Publications
Publications
Show Results For
- All HBS Web
(2,298)
- Faculty Publications (544)
- 2013
- Working Paper
FIN Around the World: The Contribution of Financing Activity to Profitability
By: Russell Lundholm, George Serafeim and Gwen Yu
We study how the availability of domestic credit influences the contribution that financing activities make to a firm's return on equity (ROE). Using a sample of 51,866 firms from 69 countries, we find that financing activities contribute more to a firm's ROE in... View Details
- July 2012
- Case
New Century Financial Corporation (Abridged)
By: Krishna G. Palepu, Suraj Srinivasan and Ian Cornell
After years of rapid growth and stock price appreciation, New Century Financial Corporation, one of the largest subprime loan originators in the U.S., reported accounting problems in early 2007. The resulting liquidity crisis forced the company to file for Chapter 11... View Details
- July 2012
- Supplement
Generation Investment Management, Video
By: Sandra J. Sucher
Examines the Investment process of Generation Investment Management, a "sustainable" investing firm established in 2004 by David Blood and U.S. Vice President Al Gore. Places students in the position of David Lowish, director of global industrials, who must decide... View Details
- 2012
- Chapter
Capturing the Link between Non-financial and Financial Performance in One Space
By: Robert G. Eccles, Jess Schulschenk and George Serafeim
- June 2012
- Article
Short Termism: Don't Blame the Investors
By: Francois Brochet, George Serafeim and Maria Loumioti
The article presents research on executives and corporation investor relations. A study is conducted of the language used by executives in conference calls discussing earnings with investors and financial analysts. A correlation was found between the use of language... View Details
- Spring 2012
- Article
The Need for Sector-Specific Materiality and Sustainability Reporting Standards
By: Robert G. Eccles, Michael P. Krzus, Jean Rogers and George Serafeim
Even though the supply of sustainability information has increased considerably in the last decade, companies are still failing to disclose material information in a comparable format. We believe this has two downsides. On the one hand, companies are not adequately... View Details
- 2012
- Chapter
Social Entrepreneurs, Socialization Processes, and Social Change: The Case of Sekem
By: Tomislav Rimac, Johanna Mair and Julie Battilana
How can application of a positive lens to understanding social change and organizations enrich and elaborate theory and practice? This is the core question that inspired this book. It is a question that brought together a diverse and talented group of researchers... View Details
- November 29, 2011
- Article
The Role of The Board in Creating a Sustainable Strategy
By: Robert G. Eccles, Ioannis Ioannou and George Serafeim
While conceptually elegant, the belief that a corporation's role is to maximize value for shareholders is under increasing challenge as society's expectations for companies change. An equally elegant new concept that takes account of these dual pressures has yet to... View Details
Keywords: Value Creation; Business and Stakeholder Relations; Corporate Strategy; Business and Shareholder Relations; Corporate Social Responsibility and Impact; Performance Expectations; Governing and Advisory Boards; Management Practices and Processes; Decisions; Risk and Uncertainty; Cost vs Benefits; Information
- November 2011
- Article
The Role of the Board in Accelerating the Adoption of Integrated Reporting
By: Robert G. Eccles and George Serafeim
This report examines the concept of integrated reporting and its current state of adoption around the globe. It also discusses the benefits to both companies and society and recommends ways boards can help their organizations accelerate the implementation of integrated... View Details
- September 2011 (Revised September 2015)
- Case
Hassina Sherjan
By: Robert G. Eccles, George Serafeim and Pippa Eccles
Hassina Sherjan was born in Afghanistan but grew up and was educated in the United States. A trip to Afghanistan when she was an adult inspired her to move back to her home country with two missions. The first was to educate young women through a non-profit... View Details
Keywords: Environmental Accounting; Non-Governmental Organizations; Nonprofit Organizations; Corporate Social Responsibility and Impact; Social Entrepreneurship; Leadership; Innovation Leadership; Development Economics; Growth and Development; Problems and Challenges; Retail Industry; Afghanistan; United States
- September 2011
- Article
A Global Leader's Guide to Managing Business Conduct
An extensive global survey by three Harvard Business School professors finds that employees agree on core standards of corporate behavior. But meeting those standards will require new approaches to managing business conduct. The compliance and ethics programs of most... View Details
- 2011
- Chapter
Accelerating the Adoption of Integrated Reporting
By: Robert G. Eccles and George Serafeim
This chapter describes the concept of integrated reporting, provides a brief history of its development, reviews the current state of practice, presents a strategy for institutional change that will accelerate the adoption of integrated reporting in order to meet the... View Details
- August 2011 (Revised July 2012)
- Case
Mike Mayo Takes on Citigroup (A)
By: Suraj Srinivasan and Amy Kaser
The case details the conflict between Mike Mayo, an influential banking analyst and Citigroup about what Mayo considers aggressive accounting policies. Mike Mayo questions Citigroup's lack of a valuation allowance against their Deferred Tax Assets despite Citi's recent... View Details
- August 2011 (Revised July 2012)
- Case
Sealed Air Corporation: Deciding the Fate of VTID
By: Elie Ofek
In mid 2010 the Sealed Air Corporation has to decide on next steps for its novel video tracking technology (called VTID) after unsuccessful attempts to market it in three different industry settings. The company must determine whether its most recent target market, the... View Details
- August 2011
- Article
Independent Invention During the Rise of the Corporate Economy in Britain and Japan
By: Tom Nicholas
Independent inventors accounted for approximately half of all patents in Britain and Japan by 1930, despite the rise of the corporate economy and the spread of industrial R&D. A mixture of patent renewal and historical citations data reveals that the quality of... View Details
- 2011
- Working Paper
The Organization of Firms Across Countries
By: Nicholas Bloom, Raffaella Sadun and John Van Reenen
We argue that social capital as proxied by trust increases aggregate productivity by affecting the organization of firms. To do this we collect new data on the decentralization of investment, hiring, production, and sales decisions from Corporate Headquarters to local... View Details
- July 2011 (Revised September 2011)
- Case
CEO Compensation at GE: A Decade with Jeff Immelt
By: V.G. Narayanan and Lisa Brem
When ISS, a large shareholder advisory group, recommended a "no" vote on Jeff Immelt's award of 2 million stock options in April 2011, GE's compensation committee had to decide whether to rescind or amend the award or ignore the ISS recommendation. Was Immelt's 2010... View Details
- July 2011 (Revised June 2013)
- Case
Foxconn Technology Group (A)
By: Robert G. Eccles, George Serafeim and Beiting Cheng
In 2010, Foxconn Technology Group, the largest and fastest growing multinational company in the Electronic Manufacturing Services (EMS) industry, came under public scrutiny after a string of employee suicides reached the international press. Although the company was... View Details
Keywords: Multinational; Labor Market; Electronic Manufacturing Services; Health ＆ Wellness; Robots; Automation; Social Responsibility; Employee Relationship Management; Leadership; Stocks; Social Issues; Corporate Social Responsibility and Impact; Capital Markets; Supply Chain Management; Safety; Environmental Accounting; Human Capital; Human Resources; Electronics Industry; Manufacturing Industry; China
- 2011
- Working Paper
Non-Audit Services and Financial Reporting Quality: Evidence from 1978-1980
By: Kevin Koh, Shiva Rajgopal and Suraj Srinivasan
We provide evidence for the long-standing concern on auditor conflicts of interest from providing non-audit services (NAS) to audit clients by using rarely explored NAS fee data from 1978 to 1980. Using this earlier setting, we find cross-sectional evidence of improved... View Details
- July–August 2011
- Article
Putting Business Models Under the Microscope
By: K. Merchant, Tatiana Sandino and D. Huelsbeck
The article provides advice for financial managers on evaluating business models for corporate performance measurement. Emphasis is given to a study sponsored by the Chartered Institute of Management Accountants (CIMA) that examined the business model of a medical... View Details