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- Faculty Publications (241)
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- May 2008
- Article
Excess Comovement of Stock Returns: Evidence from Cross-sectional Variation in Nikkei 225 Weights
By: Robin Greenwood
In the presence of limits to arbitrage, cross-sectional variation in periodic investor demand should be related to the degree of comovement of returns. I exploit the unusual weighting system of the Nikkei 225 index in Japan to identify cross-sectional variation in... View Details
Keywords: Stocks; Investment; Investment Return; Market Transactions; Weight; Performance Expectations; Behavior; Japan
Greenwood, Robin. "Excess Comovement of Stock Returns: Evidence from Cross-sectional Variation in Nikkei 225 Weights." Review of Financial Studies 21, no. 3 (May 2008): 1153–1186.
- 2012
- Article
Hiring Cheerleaders: Board Appointments of 'Independent' Directors
By: Lauren Cohen, Andrea Frazzini and Christopher Malloy
We provide evidence that firms appoint independent directors who are overly sympathetic to management, while still technically independent according to regulatory definitions. We explore a subset of independent directors for whom we have detailed, micro-level data on... View Details
Keywords: Recruitment; Management; Corporate Governance; Performance; Governing and Advisory Boards; Executive Compensation; Governing Rules, Regulations, and Reforms; Prejudice and Bias
Cohen, Lauren, Andrea Frazzini, and Christopher Malloy. "Hiring Cheerleaders: Board Appointments of 'Independent' Directors." Management Science 58, no. 6 (June 2012): 1039–1058.
- 23 May 2011
- Research & Ideas
Corporate Sustainability Reporting: It’s Effective
change in the social awareness of investors in the past decade. "The number of investors who care about this kind of performance has increased dramatically in the last 10 years," Serafeim says. "Right now those investors have about $5... View Details
Keywords: by Michael Blanding
- Research Summary
Sustainability and Integrated Reporting
A sustainable strategy for a company is one that enables it to create value for shareholders over the long term while contributing to a sustainable society. In doing so, it must balance the needs of different types of providers of financial capital (e.g.,... View Details
- 22 Sep 2008
- Research & Ideas
The Silo Lives! Analyzing Coordination and Communication in Multiunit Companies
reporting structure inside the firm, and job performance measures. These projects will allow us to address questions surrounding how individual managers' (and scientists') positions in the communication stream influence their job... View Details
Keywords: by Sarah Jane Gilbert
- 28 Sep 2009
- Research & Ideas
Improving Accountability at the World Bank
governance are the most daunting because the very foundations of governance—vote allocation proportionate to economy, representation by finance ministries, absence of parliamentary scrutiny, and the relative voicelessness of the poorest... View Details
Keywords: by Alnoor Ebrahim
- 14 Jan 2008
- Research & Ideas
Mapping Polluters, Encouraging Protectors
Citizens, industrial polluters, and scholars do not usually see eye to eye—but that may change with a new Web site that monitors corporate environmental performance in the United States. According to the university professors who created... View Details
- 23 Oct 2000
- Research & Ideas
The Strategy-Focused Organization
illustrate how major organizations have used the Scorecard to create an entirely new performance management framework that puts strategy at the center of a company's key management processes and systems. Mobil North America Marketing and... View Details
Keywords: by Robert S. Kaplan & David P. Norton
- 28 Mar 2016
- Research & Ideas
What's a Boss Worth?
people supervising teams. In part, that’s because it’s difficult to separate the performance of the boss from the performance of the individual workers he or she oversees. “Bosses may get lucky and have... View Details
- 22 Jun 2009
- Research & Ideas
“Too Big To Fail”: Reining In Large Financial Firms
restructure, sell, or liquidate a failing company. Bottom line, no firm should be too big to fail. At the same time, the majority of financial firms that pose no systemic risk should face relatively light regulation, ensuring their... View Details
- 13 Nov 2006
- Research & Ideas
Science Business: What Happened to Biotech?
describe it, has worked well for certain things in the industry, but not so well for others. What are some of the attributes of the anatomy and how has it contributed to performance shortfall? A: Let's take one: the market for know-how. I... View Details
- 07 Jul 2022
- HBS Case
How a Multimillion-Dollar Ice Cream Startup Melted Down (and Bounced Back)
to fantasize about big ideas,” Smith recalled. “After our first four days, and after we saw such great press and reviews, those dreams started to shape how we thought about the future.” At that juncture, Smith and Cuscuna made a critical mistake that would set their... View Details
Keywords: by Pamela Reynolds
- 13 Mar 2007
- First Look
First Look: March 13, 2007
threatening the relative standing of those whose appraisals they are attempting to change. By considering status differences, we are able to identify certain conditions under which verification effects should have especially potent... View Details
Keywords: Martha Lagace
- 09 Sep 2014
- First Look
First Look: September 9
Wakeman, and Francesca Gino Abstract—When entering task performance contexts we generally have expectations about both the task and how well we will perform on it. When those expectations go unmet, we... View Details
Keywords: Sean Silverthorne
- 23 Nov 2021
- Book
What It Takes to Build an Organizational Culture That Wins
led a renewal of the company by discarding performance metrics that discouraged risk-taking, aligning employees behind a mission to empower customers, and proclaiming that the “C” in his title stood for culture. The book, forthcoming in... View Details
Keywords: by Avery Forman
- 21 Feb 2017
- First Look
First Look at New Research: February 21
Eleanor W., and Christopher T. Stanton Abstract—Small business owners and others who are self-employed have the option to transition to paid work. If there is initial uncertainty about entrepreneurial earnings, this option increases the expected lifetime value of... View Details
Keywords: Carmen Nobel
- 11 Oct 2016
- First Look
October 11, 2016
to old ways of doing things, and company performance doesn't improve. To fix these problems, senior executives and their HR departments should change the way they think about learning and development, and because context is crucial,... View Details
Keywords: Sean Silverthorne
- Article
Medium-term Business Cycles
By: Diego Comin and Mark Gertler
Over the postwar period, many industrialized countries have experienced significant medium-frequency oscillations between periods of robust growth versus relative stagnation. Conventional business cycle filters, however, tend to sweep these oscillations into the trend.... View Details
Keywords: Business Cycles; Fluctuation; Information Technology; Research and Development; Resource Allocation; Framework; Trends; Performance Efficiency; Performance Productivity
Comin, Diego, and Mark Gertler. "Medium-term Business Cycles." American Economic Review 96, no. 3 (June 2006).
- 26 Aug 2002
- Research & Ideas
High-Stakes Decision Making: The Lessons of Mount Everest
leaders shape the perceptions and beliefs of others through subtle signals, actions, and symbols. For example, the compensation differential among the guides shaped people's beliefs about their relative status in the expedition. It is... View Details
Keywords: by Michael A. Roberto
- 15 Jan 2008
- First Look
First Look: January 15, 2008
profitability of a vertically integrated monopoly. We then use our model to compare open and closed standards regimes, to understand how commoditization affects a cluster, to determine the relative profits of platform firms and firms that... View Details
Keywords: Martha Lagace