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- All HBS Web (2,659)
- Faculty Publications (909)
- November 2016
- Article
Corporate Sustainability: First Evidence on Materiality
By: Mozaffar Khan, George Serafeim and Aaron Yoon
Using newly available materiality classifications of sustainability topics, we develop a novel dataset by hand-mapping sustainability investments classified as material for each industry into firm-specific sustainability ratings. This allows us to present new evidence... View Details
Keywords: Sustainability; Investments; Corporate Social Responsibility; Accounting; Corporate Reporting; Regulation; Corporate Social Responsibility and Impact; Integrated Corporate Reporting; Investment; Corporate Governance
Khan, Mozaffar, George Serafeim, and Aaron Yoon. "Corporate Sustainability: First Evidence on Materiality." Accounting Review 91, no. 6 (November 2016): 1697–1724.
- July 2011
- Article
Mixed Source
By: Ramon Casadesus-Masanell and Gaston Llanes
We study competitive interaction between a profit-maximizing firm that sells software and complementary services and a free open source competitor. We examine the firm's choice of business model between the proprietary model (where all software modules are... View Details
Keywords: Competition; Open Source Distribution; Profit; Sales; Applications and Software; Service Operations; Business Model; Decision Choices and Conditions; Quality; Value Creation
Casadesus-Masanell, Ramon, and Gaston Llanes. "Mixed Source." Management Science 57, no. 7 (July 2011): 1212–1230.
- 2023
- Working Paper
Evaluation and Learning in R&D Investment
By: Alexander P. Frankel, Joshua L. Krieger, Danielle Li and Dimitris Papanikolaou
We examine the role of spillover learning in shaping the value of exploratory versus incremental
R&D. Using data from drug development, we show that novel drug candidates generate more
knowledge spillovers than incremental ones. Despite being less likely to reach... View Details
Frankel, Alexander P., Joshua L. Krieger, Danielle Li, and Dimitris Papanikolaou. "Evaluation and Learning in R&D Investment." Harvard Business School Working Paper, No. 23-074, May 2023. (NBER Working Paper Series, No. 31290, May 2023.)
- 22 Aug 2007
- Research & Ideas
The Hedge Fund as Activist
recent academic papers have found that hedge funds generate returns of over 5 percent on announcement of their involvement, suggesting that investors believe these funds will increase the value of the firms... View Details
- Article
How Big are the Private Equity Transactions in Latin America?: Evidence from Twenty-five Countries from 2001 to 2008
By: Roberto Charvel
This article shows evidence on private equity transaction size and firm value size in 25 Latin American countries. View Details
Keywords: Private Equity; Venture Capital; Alternative Assets; Latin America; Emerging Market; Entrepreneurial Finance; Business Ventures; Finance; Entrepreneurship; Financial Services Industry; Latin America
Charvel, Roberto. "How Big are the Private Equity Transactions in Latin America? Evidence from Twenty-five Countries from 2001 to 2008." Venture Equity Latin America (2009). (Mid-year Report.)
- Article
What is the Equity Size of Companies Receiving Private Equity in Latin America?: Evidence from Twenty-five Countries from 2002 to 2008
By: Roberto Charvel
This article reviews the equity size or value of the firms attracting private equity investments in Latin America over time. The information is on post money valuations. View Details
Keywords: Alternative Assets; Entrepreneurial Finance; Emerging Market; Venture Capital; Private Equity; Latin America
Charvel, Roberto. "What is the Equity Size of Companies Receiving Private Equity in Latin America? Evidence from Twenty-five Countries from 2002 to 2008." Venture Equity Latin America 8, no. 20 (December 15, 2009).
- 2021
- Working Paper
Accounting for Workforce Impact at Scale
By: Adel Fadhel, Katie Panella, Ethan Rouen and George Serafeim
Using new data on workforce composition and wages, we systematically measure the employment impact at U.S. firms from 2008 to 2020, including 2,682 unique firms and 22,322 firm-year observations. We document significant variation across industries and firms within each... View Details
Keywords: Impact Accounting; ESG; Employee Turnover; Wages; Employment; Measurement and Metrics; Human Capital; Diversity; United States
Fadhel, Adel, Katie Panella, Ethan Rouen, and George Serafeim. "Accounting for Employment Impact at Scale." Harvard Business School Working Paper, No. 22-018, December 2021.
- September 1983
- Case
Bennett, Strang & Farris
A law firm must decide how to split partnership profits among the partners. Issues of seniority versus performance, performance evaluation, and lack of consensus of values dominate the discussions. View Details
Maister, David H. "Bennett, Strang & Farris." Harvard Business School Case 684-027, September 1983.
- November 2002 (Revised March 2007)
- Case
Keane's Acquisition of Metro Information Services (A)
By: Francisco de Asis Martinez-Jerez
On August 21, 2001, Keane, Inc. announced the acquisition of Metro Information Services, Inc. This case analyzes the challenges facing firms and examines transactions whose major source of value creation hinges on intangible assets (e.g., people or knowledge). View Details
Keywords: Mergers and Acquisitions; Value Creation; Goodwill Accounting; Problems and Challenges; Information Technology Industry; Consulting Industry
Martinez-Jerez, Francisco de Asis. "Keane's Acquisition of Metro Information Services (A)." Harvard Business School Case 103-042, November 2002. (Revised March 2007.)
- December 2012
- Article
Evidence on the Use of Unverifiable Estimates in Required Goodwill Impairment
By: Karthik Ramanna and Ross L. Watts
SFAS 142 requires managers to estimate the current fair value of goodwill to determine goodwill write-offs. In promulgating the standard, the FASB predicted managers will, on average, use the fair value estimates to convey private information on future cash flows. The... View Details
Keywords: Goodwill Impairment; Fair-value Accounting; FASB; SFAS 142; Fair Value Accounting; Standards; Cash Flow; Agency Theory; Motivation and Incentives; Forecasting and Prediction; Goodwill Accounting
Ramanna, Karthik, and Ross L. Watts. "Evidence on the Use of Unverifiable Estimates in Required Goodwill Impairment." Review of Accounting Studies 17, no. 4 (December 2012): 749–780.
- March 1997
- Case
Private Management and Public Schools (A)
Examines the prospects for private management in U.S. public schools. Introduces the U.S. system of education and the concerns driving the education reform process. Focuses on the education and business strategies of Education Alternatives, Inc. (EAI), Public... View Details
Keywords: For-Profit Firms; Value; Education; Government and Politics; Education Industry; United States
Dyck, Alexander, and Danielle J. Melito. "Private Management and Public Schools (A)." Harvard Business School Case 797-113, March 1997.
- December 2013
- Course Overview Note
Digital Marketing Strategy
By: Thales Teixeira
Digital Marketing Strategy is the process by which firms employ, either partially or exclusively, digital tools, techniques, and tactics to create value for customers. View Details
Teixeira, Thales. "Digital Marketing Strategy." Harvard Business School Course Overview Note 514-087, December 2013.
- 07 Sep 2012
- Working Paper Summaries
IP Modularity: Profiting from Innovation by Aligning Product Architecture with Intellectual Property
- December 2014
- Article
Location Strategies for Agglomeration Economies
By: Juan Alcácer and Wilbur Chung
Geographically concentrated industry activity creates pools of skilled labor and specialized suppliers, and increases opportunities for knowledge spillovers. The strategic value of these agglomeration economies may vary by firm, depending upon the relative value of... View Details
Keywords: Location Strategies; Location Choices; Agglomeration Economies; Strategy; Value Creation; Geographic Location; Industry Clusters; Microeconomics; Manufacturing Industry; United States
Alcácer, Juan, and Wilbur Chung. "Location Strategies for Agglomeration Economies." Strategic Management Journal 35, no. 12 (December 2014): 1749–1761.
- April 2007 (Revised April 2008)
- Case
Corrections Corporation of America
This case illustrates a comprehensive valuation of a publicly traded firm specializing in building and managing prisons. Students must assess the firm's strategy and risks, evaluate key financial reports, derive forecasts of future performance, and use these forecasts... View Details
Keywords: Financial Statements; Buildings and Facilities; For-Profit Firms; Crime and Corruption; Forecasting and Prediction; Risk Management; Valuation; Construction Industry; Public Administration Industry; Service Industry
Riedl, Edward J. "Corrections Corporation of America." Harvard Business School Case 107-071, April 2007. (Revised April 2008.)
- Research Summary
Delegation in Multi-Divisional Firms: Determinants of the Organizational Structure of IT Purchasing Authority
Recent contributions to a growing theory literature have focused on the tradeoff between adaptation and coordination in determining delegation within firms. Empirical evidence, however, is limited. Using establishment-level data on decision rights over information... View Details
- Summer 2014
- Article
Delegation in Multi-Establishment Firms: Evidence from I.T. Purchasing
By: Kristina Steffenson McElheran
Recent contributions to a growing theory literature have focused on the tradeoff between adaptation and coordination in determining delegation within firms. Empirical evidence, however, is limited. Using establishment-level data on decision rights over information... View Details
McElheran, Kristina Steffenson. "Delegation in Multi-Establishment Firms: Evidence from I.T. Purchasing." Journal of Economics & Management Strategy 23, no. 2 (Summer 2014): 225–258. (Lead Article.)
- April 2020 (Revised February 2023)
- Case
GitLab and the Future of All-Remote Work (A)
By: Prithwiraj Choudhury and Emma Salomon
GitLab is arguably one of the world’s largest “all-remote” companies. Started in 2011 and with more than 1,000 employees at present, it has no physical offices and all employees, including the entire C-Suite, work remotely from all parts of the world. The case... View Details
Keywords: Remote Work; Internet and the Web; Technology Adoption; Value Creation; Business Model; Organizational Structure
Choudhury, Prithwiraj, and Emma Salomon. "GitLab and the Future of All-Remote Work (A)." Harvard Business School Case 620-066, April 2020. (Revised February 2023.)
- 2021
- Working Paper
Corporate Environmental Impact: Measurement, Data and Information
By: David Freiberg, DG Park, George Serafeim and T. Robert Zochowski
As an organization’s environmental impact has become a central societal consideration, thereby affecting industry and organizational competitiveness, interest in measuring and analyzing environmental impact has increased. We develop a methodology to derive comparable... View Details
Keywords: Environment; Impact; Measurement; Environmental Ratings; Corporate Valuation; Financial Materiality; Sustainability; Environmental Impact; Environmental Strategy; Impact-Weighted Accounts; IWAI; Environmental Sustainability; Corporate Social Responsibility and Impact; Measurement and Metrics; Valuation
Freiberg, David, DG Park, George Serafeim, and T. Robert Zochowski. "Corporate Environmental Impact: Measurement, Data and Information." Harvard Business School Working Paper, No. 20-098, March 2020. (Revised February 2021.)
- March 2024 (Revised April 2024)
- Case
Coursera's Foray into GenAI
By: Suraj Srinivasan, Michael Parzen and Radhika Kak
In early 2023, Maggioncalda, CEO of US EdTech firm Coursera, launched Project Genesis to develop a strategy for incorporating GenAI capabilities into the firm's offerings, asking his teams to focus on value to the firm and cost of implementation. The team identified... View Details
Keywords: Business Model; AI and Machine Learning; Brands and Branding; Business Strategy; Competitive Advantage; Technological Innovation; Education Industry; Technology Industry; United States
Srinivasan, Suraj, Michael Parzen, and Radhika Kak. "Coursera's Foray into GenAI." Harvard Business School Case 124-089, March 2024. (Revised April 2024.)