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- All HBS Web
(4,898)
- Faculty Publications (850)
- Article
Narrow Networks on the Health Insurance Marketplaces: Prevalence, Pricing, and the Cost of Network Breadth
By: Leemore S. Dafny, Igal Hendel, Victoria Marone and Christopher Ody
Anecdotal reports and systematic research highlight the prevalence of narrow-network plans on the Affordable Care Act’s health insurance Marketplaces. At the same time, Marketplace premiums in the period 2014–2016 were much lower than projected by the Congressional... View Details
Dafny, Leemore S., Igal Hendel, Victoria Marone, and Christopher Ody. "Narrow Networks on the Health Insurance Marketplaces: Prevalence, Pricing, and the Cost of Network Breadth." Health Affairs 36, no. 9 (September 2017).
- September 2017
- Article
Reexamining Staggered Boards and Shareholder Value
By: Charles C.Y. Wang and Alma Cohen
Cohen and Wang (2013) (CW2013) provide evidence consistent with market participants perceiving staggered boards to be value reducing. Amihud and Stoyanov (2016) (AS2016) contests these findings, reporting some specifications under which the results are not... View Details
Keywords: Staggered Boards; Takeover Defense; Antitakeover Provision; Firm Value; Delaware; Airgas; Governing and Advisory Boards; Corporate Governance; Value
Wang, Charles C.Y., and Alma Cohen. "Reexamining Staggered Boards and Shareholder Value." Journal of Financial Economics 125, no. 3 (September 2017): 637–647.
- August 2017
- Case
Boston Public Schools' Long Term Financial Plan
By: C. Fritz Foley, Victor Wu and F. Katelynn Boland
In the fall of 2016, the senior leadership team of Boston Public Schools prepared a report indicating that costs were expected to grow faster than revenues for many years to come. They faced questions about whether the projections would be believed and about how to... View Details
Keywords: Financial Planning; Education Reform; Education; Budgets and Budgeting; Corporate Finance; Public Administration Industry; United States; Boston
Foley, C. Fritz, Victor Wu, and F. Katelynn Boland. "Boston Public Schools' Long Term Financial Plan." Harvard Business School Case 218-031, August 2017.
- August 2017 (Revised November 2017)
- Case
Accounting for Political Risk at AES
By: Gerardo Pérez Cavazos and Suraj Srinivasan
As a global energy generating company, AES frequently faces challenges from political changes and instability. This is exacerbated by the fact that in many instances AES' primary customer is the government, which is also in charge of law-making. For example, AES'... View Details
Keywords: Political Risk; Asset Impairment; Risk Factors; Fair Value; Fair Value Accounting; Financial Reporting; Financial Statements; Energy Industry; Bulgaria; Dominican Republic; United States; Venezuela
Pérez Cavazos, Gerardo, and Suraj Srinivasan. "Accounting for Political Risk at AES." Harvard Business School Case 118-023, August 2017. (Revised November 2017.)
- August 2017
- Case
Wake Up Call
By: David G. Fubini and Christine Snively
In 1993, three consultants at different stages in their careers must decide how to respond to what they considered to be unethical behavior from a partner at their firm. They each considered the potential consequences of reporting a senior colleague and the impact it... View Details
Fubini, David G., and Christine Snively. "Wake Up Call." Harvard Business School Case 418-001, August 2017.
- August 8, 2017
- Article
Buying Time Promotes Happiness
By: A.V. Whillans, Elizabeth W. Dunn, Paul Smeets, Rene Bekkers and Michael I. Norton
Around the world, increases in wealth have produced an unintended consequence: a rising sense of time scarcity. We provide evidence that using money to buy time can provide a buffer against this time famine, thereby promoting happiness. Using large, diverse samples... View Details
Whillans, A.V., Elizabeth W. Dunn, Paul Smeets, Rene Bekkers, and Michael I. Norton. "Buying Time Promotes Happiness." Proceedings of the National Academy of Sciences 114, no. 32 (August 8, 2017): 8523–8527.
- June 2017 (Revised January 2019)
- Case
Signet Jewelers: Assessing Customer Financing Risk
By: Gerardo Pérez Cavazos, Suraj Srinivasan and Monica Baraldi
Marc Cohodes, a renowned short seller, has identified weaknesses in Signet's business strategy, which he argues is heavily reliant on providing loans to customers with subprime credit scores. He believes that the company accounts for its receivables portfolio using... View Details
Keywords: Short Selling; Bad Debt Expense; Accounting; Financial Reporting; Financial Statements; Finance; Financing and Loans; Valuation; Retail Industry; Financial Services Industry; United States
Pérez Cavazos, Gerardo, Suraj Srinivasan, and Monica Baraldi. "Signet Jewelers: Assessing Customer Financing Risk." Harvard Business School Case 117-038, June 2017. (Revised January 2019.)
- June 2017
- Case
AT&T Versus Verizon: A Financial Comparison
By: V.G. Narayanan and Joel L. Heilprin
This case asks students to prepare a report comparing the financial and operating performance of AT&T and Verizon. Taking the perspective of a communications industry analyst, they must also consider the differences between and implications of the companies' business... View Details
Keywords: Financial Statements; Operations; Analysis; Business Model; Accounting; Performance Effectiveness; Telecommunications Industry
Narayanan, V.G., and Joel L. Heilprin. "AT&T Versus Verizon: A Financial Comparison." Harvard Business School Brief Case 917-543, June 2017.
- 2017
- Book
Profits and Sustainability: A History of Green Entrepreneurship
By: Geoffrey Jones
This book explores whether profits and environmental sustainability are compatible through the lens of a global history of green entrepreneurship between the nineteenth century and today. It tells the story of the extraordinary and often eccentric men and women who... View Details
Keywords: Environmental Entrepreneurship; Green Business; Sustainability; Entrepreneurship; Ethics; Business History; Religion; Environmental Sustainability; Agriculture and Agribusiness Industry; Banking Industry; Beauty and Cosmetics Industry; Consumer Products Industry; Alternative Energy Industry; Financial Services Industry; Food and Beverage Industry; Green Technology Industry; Tourism Industry; Africa; Asia; Europe; Latin America; North and Central America; Oceania
Jones, Geoffrey. Profits and Sustainability: A History of Green Entrepreneurship. New York: Oxford University Press, 2017.
- Article
Does the Scope of the Sell-Side Analyst Industry Matter? An Examination of Bias, Accuracy, and Information Content of Analyst Reports
By: Kenneth Merkley, Roni Michaely and Joseph Pacelli
We examine changes in the scope of the sell-side analyst industry and whether these changes impact information dissemination and the quality of analysts’ reports. Our findings suggest that changes in the number of analysts covering an industry impact analyst... View Details
Keywords: Analyst Industry; Sell-side Analysts; Analyst Reports; Finance; Analysis; Information; Reports; Quality; Financial Services Industry
Merkley, Kenneth, Roni Michaely, and Joseph Pacelli. "Does the Scope of the Sell-Side Analyst Industry Matter? An Examination of Bias, Accuracy, and Information Content of Analyst Reports." Journal of Finance 72, no. 3 (June 2017): 1285–1334.
- August 2017
- Article
Is the SEC Captured? Evidence from Comment-Letter Reviews
By: Jonas Heese, Mozaffar Khan and Karthik Ramanna
SEC oversight of publicly listed firms ranges from comment letter (CL) reviews of firms’ reporting compliance to pursuing enforcement actions against violators. Prior literature finds that firm political connections (PC) negatively predict enforcement actions,... View Details
Keywords: Comment Letters; Political Connections; Regulatory Capture; SEC Enforcement; Government Administration; Business and Government Relations; Government and Politics
Heese, Jonas, Mozaffar Khan, and Karthik Ramanna. "Is the SEC Captured? Evidence from Comment-Letter Reviews." Journal of Accounting & Economics 64, no. 1 (August 2017). (Revised June 2017.)
- May 2017
- Article
Experimental Evidence of Pooling Outcomes Under Information Asymmetry
By: William Schmidt and Ryan W. Buell
Operational decisions under information asymmetry can signal a firm's prospects to less-informed parties, such as investors, customers, competitors, and regulators. Consequently, managers in these settings often face a tradeoff between making an optimal decision and... View Details
Keywords: Behavioral Decision Research; Information Asymmetry; Signaling; Decision Choices and Conditions; Alignment
Schmidt, William, and Ryan W. Buell. "Experimental Evidence of Pooling Outcomes Under Information Asymmetry." Management Science 63, no. 5 (May 2017): 1586–1605.
- 2017
- Chapter
Toward Transparent Reporting of Psychological Science
By: Etienne P. LeBel and Leslie K. John
In this chapter we make a case for increased transparency of the methods used to obtain research findings. Although comprehensive reporting facilitates accurate assessment of a paper’s claims, the current reporting norm is secrecy, not openness. We begin by putting... View Details
LeBel, Etienne P., and Leslie K. John. "Toward Transparent Reporting of Psychological Science." In Psychological Science under Scrutiny: Recent Challenges and Proposed Solutions, edited by S.O. Lilienfeld and I.D. Waldman. New York: John Wiley & Sons, 2017.
- March 2017
- Article
Variation in the Cost of Care for Primary Total Knee Arthroplasties
By: Derek A. Haas and Robert S. Kaplan
The study examined the cost variation across 29 high-volume U.S. hospitals for delivering a primary total knee arthroplasty without major complicating conditions. Hospital and physician personnel costs were calculated using time-driven activity-based costing.... View Details
Haas, Derek A., and Robert S. Kaplan. "Variation in the Cost of Care for Primary Total Knee Arthroplasties." Arthroplasty Today 3, no. 1 (March 2017): 33–37.
- 2017
- Working Paper
Why and How Investors Use ESG Information: Evidence from a Global Survey
Using survey data from a sample of senior investment professionals from mainstream (i.e., not SRI funds) investment organizations, we provide insights into why and how investors use reported environmental, social, and governance (ESG) information. The primary reason... View Details
Keywords: Investment Management; Sustainability; ESG; ESG (Environmental, Social, Governance) Performance; Investment Fund; Investment Strategy; Corporate Accountability; Activist Shareholder; Engagement; Environment; Climate Change; Customers; Customer Satisfaction; Employee Engagement; Global Warming; Investment; Decision Making; Environmental Sustainability; Performance Expectations
Serafeim, Georgios. "Why and How Investors Use ESG Information: Evidence from a Global Survey." Harvard Business School Working Paper, No. 17-079, February 2017.
- February 2017 (Revised June 2017)
- Case
ExxonMobil: Business as Usual? (A)
By: George Serafeim, Shiva Rajgopal and David Freiberg
Climate change was becoming an important societal and business issue as more governments were introducing climate change related regulations and investors became increasibly worried about stranded assets within oil and gas firms. In September 2016, the U.S. Securities... View Details
Keywords: Oil & Gas; Oil Prices; Oil Companies; Asset Impairment; Predictive Analytics; Sustainability; Environmental Impact; Innovation; Disclosure; Accounting; Valuation; Climate Change; Renewable Energy; Environmental Sustainability; Financial Reporting; Energy Industry
Serafeim, George, Shiva Rajgopal, and David Freiberg. "ExxonMobil: Business as Usual? (A)." Harvard Business School Case 117-046, February 2017. (Revised June 2017.)
- February 2017 (Revised June 2017)
- Supplement
ExxonMobil: Business as Usual? (B)
By: George Serafeim, Shiva Rajgopal and David Freiberg
The case presents ExxonMobil's response to growing pressure to disclose how climate change will impact their business. This includes multiple asset impairments and losing a proxy vote to shareholders to increase climate change related reporting. Supplements the (B)... View Details
Keywords: Oil & Gas; Oil Prices; Oil Companies; Asset Impairment; Predictive Analytics; Sustainability; Environmental Impact; Innovation; Disclosure; Accounting; Valuation; Energy Sources; Ethics; Corporate Disclosure; Governance Compliance; Climate Change; Financial Reporting; Energy Industry; United States
Serafeim, George, Shiva Rajgopal, and David Freiberg. "ExxonMobil: Business as Usual? (B)." Harvard Business School Supplement 117-047, February 2017. (Revised June 2017.)
- February 2017
- Article
Resident Networks and Corporate Connections: Evidence from World War II Internment Camps
By: Lauren Cohen, Umit Gurun and Christopher J. Malloy
We demonstrate that simply by using the ethnic makeup surrounding a firm’s location, we can predict, on average, which trade links are valuable for firms. Using customs and port authority data on the international shipments of all U.S. publicly traded firms, we show... View Details
Keywords: Information Networks; Trade Links; Firm Behavior; Networks; Geographic Location; Ethnicity; Organizations; Trade
Cohen, Lauren, Umit Gurun, and Christopher J. Malloy. "Resident Networks and Corporate Connections: Evidence from World War II Internment Camps." Journal of Finance 72, no. 1 (February 2017): 207–248. (Winner of First Prize, the Inaugural Hakan Orbay Research Award, 2015.)
- January 2017 (Revised August 2017)
- Case
Weathernews
By: Karim R. Lakhani and Akiko Kanno
Tomohiro Ishibashi (Bashi), chief executive officer for B to S, and Julia Foote LeStage, chief innovation officer of Weathernews Inc., were addressing a panel at the HBS Digital Summit on creative uses of big data. They told the summit attendees about how the Sakura... View Details
Keywords: Crowdsourcing; Operations; Globalization; Weather; Forecasting and Prediction; Global Strategy
Lakhani, Karim R., and Akiko Kanno. "Weathernews." Harvard Business School Case 617-053, January 2017. (Revised August 2017.)
- January 2017 (Revised January 2019)
- Case
The Rise and Fall of Lehman Brothers
By: Stuart C. Gilson, Kristin Mugford and Sarah L. Abbott
With nearly $700 billion in assets, Lehman was the largest U.S. bankruptcy in history. In 2007, Lehman achieved record earnings of over $4 billion on revenues of $60 billion. By September 2008 the fourth largest investment bank in the world was bankrupt. How had a... View Details
Keywords: Bankruptcy; Financial Distress; Accounting Policies; Business Ethics; Financial Reporting; Volatility; Judgments; Financial Crisis; Insolvency and Bankruptcy; Financial Liquidity; Investment Banking; Financial Management; Financial Strategy; Corporate Accountability; Corporate Disclosure; Corporate Governance; Crisis Management; Risk Management; Failure; Business and Government Relations; Ethics; Banking Industry; New York (city, NY)
Gilson, Stuart C., Kristin Mugford, and Sarah L. Abbott. "The Rise and Fall of Lehman Brothers." Harvard Business School Case 217-041, January 2017. (Revised January 2019.)