Publications

Research Summary

The Role of Financial and Information Intermediaries in the Capital Markets

Hutton's research investigates the role of financial analysts and short sellers in the pricing of equity securities. Recently, Hutton examines (with Patricia Dechow and Richard Sloan) the role of sell-side analysts' earnings forecasts in the pricing of common equity... View Details

August 2014 (Revised March 2015)
Case

Molycorp: Morgan Brothers' Reverse Convertible Notes (C)

By: Benjamin C. Esty and E. Scott Mayfield

In August 2011, Morgan Brothers Bank was issuing a $2.5 million reverse convertible note with payoffs linked to the price of Molycorp's common stock. These financially engineered securities were just one of many kinds of structured notes available in the retail market.... View Details

Keywords: Structured Products; Reverse Convertible Notes; Replication; Option Pricing; Bond Pricing; Financial Engineering; Valuation; Metals and Minerals; Debt Securities; Finance; Investment; Financial Services Industry; Financial Services Industry; Canada; California

June, 2023
Article

Walking the Purpose-Talk Inside a Large Company: Sustainable Product Development as an Instance of Divergent Change

By: Marissa Kimsey, Thijs Geradts and Julie Battilana

There is a growing interest in large companies pursuing a new purpose—changing their core reason for being from a singular focus on financial gain to a renewed responsibility to people and the planet alongside profit. Yet knowledge of how a large company can walk that... View Details

Keywords: Product Development; Environmental Sustainability; Mission and Purpose; Leading Change

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01 Jun 2017
News

A Finger on the Pulse of the Financial System

What if it were possible to accurately predict and maybe even prevent the next global financial crisis? Harvard’s Behavioral Finance and Financial Stability (BFFS) Project, conceived at HBS and launched in... View Details

2003
Other Unpublished Work

A Review of Commitment Savings Products in Developing Countries

By: Nava Ashraf, Nathalie Gons, Dean Karlan and Wesley Yin

Keywords: Saving; Developing Countries and Economies; Financial Instruments

Web

From the Chief Financial Officer | Annual Report 2024

revenue from the group’s Corporate Learning and Harvard Business Press components, as well as to a decline in advertising revenue. Focusing on long-term financial growth, the group continued its investment in new View Details

22 Sep 2010
Working Paper Summaries

The Task and Temporal Microstructure of Productivity: Evidence from Japanese Financial Services

Keywords: by Bradley R. Staats & Francesca Gino; Banking

September 2017 (Revised September 2023)
Case

Chase Sapphire: Creating a Millennial Cult Brand

By: Shelle Santana, Jill Avery and Christine Snively

The launch of the Chase Sapphire Reserve credit card was enthusiastically received by millennial consumers, a cohort that had previously eluded JPMorgan Chase and its competitors. With the one-year anniversary of the launch approaching, managers are focused on... View Details

2017
Working Paper

Management as a Technology?

By: Nicholas Bloom, Raffaella Sadun and John Van Reenen

Are some management practices akin to a technology that can explain firm and national productivity, or do they simply reflect contingent management styles? We collect data on core management practices from over 11,000 firms in 34 countries. We find large cross-country... View Details

Keywords: Management Practices; Productivity; Competition; Management Practices and Processes; Performance Productivity

SSRN

08 Aug 2023
Research & Ideas

The Rise of Employee Analytics: Productivity Dream or Micromanagement Nightmare?

likely to leave?” Yet, at the same time, Polzer notes that people analytics could also be used in more worrisome ways, raising concerns about employers that monitor every keystroke in an attempt to control and micromanage employee behavior. “This has the potential to... View Details

Keywords: by Ben Rand

16 Mar 2011
Working Paper Summaries

Driven by Social Comparisons: How Feedback about Coworkers’ Effort Influences Individual Productivity

Keywords: by Francesca Gino & Bradley R. Staats; Banking

06 Aug 2020
Blog Post

My HBS Financial Aid Story: Why I Chose to Invest in My Future

There is also a calculator that allows you to estimate the amount of financial aid you might receive. I knew before I applied that HBS offered need-based financial aid, but I was not sure I would qualify. My... View Details

Research Summary

How Does Foreign Direct Investment Promote Economic Growth? Exploring the Effects of Financial Markets on Linkages (with Areendam Chanda, Sebnem Kalemli-Ozcan and Selin Sayek)

By: Laura Alfaro

The empirical literature finds mixed evidence on the existence of positive productivity externalities in the host country generated by foreign multinational companies. We propose a novel mechanism, which emphasizes the role of local financial markets in enabling... View Details

December 1999
Case

Sun Microsystems, Inc. (A5): Solaris 7: Rich Green on Product Strategy and Culture Change

By: Rosabeth M. Kanter and Jane Roessner

Solaris, Sun Microsystems' version of the UNIX operating system, was an amorphous collection of capabilities that had accumulated over the years, a product the company vaguely wished it could market and sell better. Developing and marketing Solaris 7 would help... View Details

Keywords: Digital Platforms; Applications and Software; Organizational Change and Adaptation; Product Positioning; Growth and Development Strategy; Organizational Culture; Success; Change; Diversification; Technology Industry; Computer Industry

May 2009
Teaching Note

Ceres Gardening Company: Funding Growth in Organic Products (Brief Case)

By: John H. McArthur and Sunru Yong

Teaching Note to 4017. View Details

Keywords: Accounting Procedures; Marketing; Business Growth; Expansion; Business Growth and Maturation; Marketing Channels; Financial Statements; Sales

May 2011
Article

Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting

By: George Serafeim

I analyze Embedded Value (EV) reporting by firms with life insurance operations to assess the impact of unregulated financial reporting on transparency and to examine the institutional characteristics that promote unregulated reporting. Under EV accounting the present... View Details

Keywords: Financial Statements; Mergers and Acquisitions; Financial Reporting; Cash Flow; Contracts; Equity; Profit; Value; Corporate Disclosure; Governing Rules, Regulations, and Reforms; Business and Shareholder Relations; Business Earnings

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May 2013 (Revised March 2014)
Case

Hubei Lantian (A)

By: David F. Hawkins, Michael Shih-Ta Chen and Nancy Hua Dai

Emily Wang, an analyst with Future Securities, a Shanghai-based investment firm, is given the task of making stock purchase recommendations to her supervisor from a number of Chinese common stocks. One stock in particular, Hubei Lantian Co., Ltd. (Hubei Lantian),... View Details

Keywords: Financial Analysis; Ratio Analysis

October 2007
Article

The Influence of Financial Statement Recognition and Analyst Coverage on the Market's Valuation of R&D Capital

By: Michael D. Kimbrough

Statement of Financial Accounting Standards 141 (SFAS No. 141)'s requirement that an acquirer in a business combination estimate the fair value of the target's separately identifiable assets and liabilities (including research and development capital) provides a rare... View Details

Keywords: Information; Value Creation; Fair Value Accounting; Research and Development; Financial Statements; Capital