Publications

May 2010
Article

Elections and Discretionary Accruals: Evidence from 2004

By: Karthik Ramanna and Sugata Roychowdhury

We examine the accrual choices of outsourcing firms with links to U.S. congressional candidates during the 2004 elections, when corporate outsourcing was a major campaign issue. We find that politically connected firms with more extensive outsourcing activities have... View Details

Keywords: Political Economy; Accounting Information; Accruals Management; Campaign Contributions; Discretionary Accruals; Election Outcomes; Political Currency; Political Process; Social Issues; Political Elections; Job Cuts and Outsourcing; Motivation and Incentives; Earnings Management; Welfare; United States

SSRN

September 2002 (Revised October 2002)
Case

Corporate Inversions: Stanley Works and the Lure of Tax Havens

By: Mihir A. Desai, James R. Hines, Jr and Mark Veblen

In response to Stanley Work's announcement that it is moving to Bermuda--and the associated jump in market value--a major competitor sets out to determine how the market is valuing the consequences of moving to a tax haven and whether his company should invert to a tax... View Details

Keywords: Financial Management; Taxation; Financial Strategy; Credit Derivatives and Swaps; International Finance; Valuation; Financial Markets; Financial Statements; United States

06 Dec 2021
News

Digitalization: The Key to the Future of HBS

are on the bleeding edge of this in a range of companies, from Stitch Fix to Spotify, from JP Morgan to Walt Disney. I also hope our alumni will hold HBS accountable on this.... View Details

Keywords: April White

25 Mar 2016
News

New Head of MBA Admissions Is 2013 Grad

Chad Losee Chad Losee Harvard Business School has announced that it has chosen Chad Losee (MBA 2013) to be its next managing director of MBA Admissions and Financial Aid. Losee will succeed Dee Leopold (MBA... View Details

August 2015
Article

Dollar Funding and the Lending Behavior of Global Banks

By: Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein

A large share of dollar-denominated lending is done by non-U.S. banks, particularly European banks. We present a model in which such banks cut dollar lending more than euro lending in response to a shock to their credit quality. Because these banks rely on wholesale... View Details

Keywords: Banks; Global Banks; Credit Supply; Dollar Funding; International Finance; Banks and Banking; Banking Industry

September 2023
Article

Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement

By: George Serafeim and Aaron Yoon

We investigate whether ESG ratings predict future ESG news and the associated market reactions. We find that the consensus rating predicts future news, but its predictive ability diminishes for firms with large disagreement between raters. Relation between news and... View Details

SSRN

October 1985
Background Note

Analysis and Reporting of Intercorporate Investments and Business Combinations

By: David F. Hawkins

Keywords: Financial Reporting

02 Mar 2015
Research & Ideas

‘Retail Revolution’ Excerpt: The Scale of the Ecommerce Threat

book excerpt The Scale Of The Threat From Retail Revolution: Will Your Brick-and-Mortar Store Survive? By Rajiv Lal, José B. Alvarez and Dan Greenberg After years against the ropes, many retailers are fighting out View Details

Keywords: Re: Rajiv Lal; Retail

April 1977
Background Note

Choice of Debt Securities: Maturity and Call Provisions

By: Jay O. Light

Keywords: Financial Instruments

01 Dec 1999
News

HBS Alumni Association Board of Directors: President's Report

twenty HBS faculty members along with first-rate speakers and panelists drawn from the top companies in Europe. Key themes include technology, corporate strategy, globalization, and entrepreneurship. Specific sessions will be held on "The Role View Details

August 2018
Case

Tapping Growth at Lord Hobo Brewing Company

By: Ethan Rouen and Susanna Gallani

Lord Hobo Brewing Company accounts for its inventory process as it prepares to create its first set of professional financial statements for investors. View Details

Keywords: Inventory; Start-ups; Craft Brewing; Investing; GAAP; Brand Management; Accounting; Working Capital; Entrepreneurship; Private Equity; Business Startups; Business and Shareholder Relations; Food and Beverage Industry; Boston; New England; United States

Web

The Anatomy of Fraud (TAF) - Course Catalog

develop expertise to understand financial reporting implications of business decisions and identify key control fault-lines in companies that can lead to fraud. The course is also relevant for students... View Details

November 2000
Case

Wit Capital: Evolution of the Online Investment Bank (B)

Describes the evolution of Wit Capital from its origins as a small brewery to an online investment bank advising both small technology-based companies seeking to raise capital and large companies seeking to acquire Internet companies, as well as offering retail... View Details

Keywords: Internet and the Web; Disruptive Innovation; Service Delivery; Investment Banking; Entrepreneurship

11 Dec 2018
Blog Post

Recap of the 4th Annual Women in Investing Summit

Accountancy from the University of Illinois. Roughly 200 attendees joined the Fourth Annual Women in Investing Summit on November 29th. It was powerful to be surrounded by a diverse group View Details

2006
Article

The End of Nationality? Global Firms and 'Borderless Worlds'

By: G. Jones

This article provides a historical perspective to current debates whether large global firms are becoming "stateless" and whether this is a historically new phenomenon. It shows that a great deal of international business in the nineteenth century was not easily fitted... View Details

Keywords: Business Subsidiaries; Multinational Firms and Management; Trade; Ownership; International Finance; Economic Systems; International Accounting; Globalized Economies and Regions; Geographic Location; Nationality; Boundaries; Global Strategy