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Show Results For
- All HBS Web
(6,234)
- People (24)
- News (1,217)
- Research (3,717)
- Events (19)
- Multimedia (12)
- Faculty Publications (2,445)
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- 2022
- Working Paper
The Stock Market Value of Human Capital Creation
By: Matthias Regier and Ethan Rouen
We develop a measure of firm-year-specific human capital investment from publicly disclosed personnel expenses (PE) and examine the stock market valuation of this investment. Measuring the future value of PE (PEFV) based on the relation between lagged... View Details
Regier, Matthias, and Ethan Rouen. "The Stock Market Value of Human Capital Creation." Harvard Business School Working Paper, No. 21-047, October 2020. (Revised March 2022.)
- July 2016
- Article
The Capital Market Consequences of Language Barriers in the Conference Calls of Non-U.S. Firms
By: Francois Brochet, Patricia L. Naranjo and Gwen Yu
We examine how language barriers affect the capital market reaction to information disclosures. Using transcripts from the English-language conference calls of non-U.S. firms, we find that the calls of firms in countries with greater language barriers are more likely... View Details
Keywords: Voluntary Disclosure; Capital Market Consequences; Non-plain English; Spoken Communication; Complexity; Capital Markets; Cross-Cultural and Cross-Border Issues
Brochet, Francois, Patricia L. Naranjo, and Gwen Yu. "The Capital Market Consequences of Language Barriers in the Conference Calls of Non-U.S. Firms." Accounting Review 91, no. 4 (July 2016): 1023–1049.
- January 2012 (Revised March 2014)
- Module Note
Managers and Market Capitalism
By: Rebecca Henderson and Karthik Ramanna
The last thirty years have seen the widespread embrace of market capitalism as not only a highly efficient form of economic organization but also as one that best meets the diversity of human preferences. In large, complex societies, an increasing body of theoretical... View Details
Henderson, Rebecca, and Karthik Ramanna. "Managers and Market Capitalism." Harvard Business School Module Note 112-043, January 2012. (Revised March 2014.)
- January 2008
- Article
Venture Capital Investment Cycles: The Impact of Public Markets
It is well documented that the venture capital industry is highly volatile and that much of this volatility is associated with shifting valuations and activity in public equity markets. This paper examines how changes in public market signals affected venture capital... View Details
Keywords: Market Cycles; Venture Capital; Investment; Experience and Expertise; Public Equity; Volatility; Financial Services Industry
Gompers, Paul, Anna Kovner, Josh Lerner, and David Scharfstein. "Venture Capital Investment Cycles: The Impact of Public Markets." Journal of Financial Economics 87, no. 1 (January 2008): 1–23. (Earlier versions distributed as National Bureau of Economic Research Working Paper No. 11385.)
- February 2002
- Article
Market Timing and Capital Structure
By: Malcolm Baker and Jeffrey Wurgler
It is well known that firms tend to raise equity when their market values are high relative to book and past market values. We document that the resulting effects on capital structure are very persistent. As a consequence, current capital structure is strongly related... View Details
Baker, Malcolm, and Jeffrey Wurgler. "Market Timing and Capital Structure." Journal of Finance 57, no. 1 (February 2002): 1–32. (Winner of Brattle Prize. First Prize Paper For outstanding papers on corporate finance published in the Journal of Finance presented by Brattle Group, Inc. Reprinted in Recent Developments in Corporate Finance, edited by Jay Ritter. Edward Elgar Publishing: UK, 2005.)
- 11 Apr 2013
- Working Paper Summaries
Managers and Market Capitalism
Keywords: by Rebecca Henderson & Karthik Ramanna
- 15 May 2012
- Panel Discussion
Capitalism at Risk
By: Lynn S. Paine and Joseph L. Bower
- Research Summary
Effective Capital Market Communications
Hutton's most recent research and cases examine how managers enhance the credibility and effectiveness of their financial reports and voluntary disclosures. Her most recent working paper, "Effective Voluntary Disclosure" (co-authored with Greg Miller, HBS, and Douglas... View Details
- 2008
- Working Paper
International Financial Integration and Entrepreneurial Firm Activity
By: Laura Alfaro and Andrew Charlton
We explore the relation between international financial integration and the level of entrepreneurial activity in a country. We use a unique firm-level data set in a broad sample of developed and developing countries, which enables us to present both cross-country and... View Details
Keywords: International Financial Integration; Capital Mobility; Firm Entry; Capital Controls; Finance; Integration; Global Range; Capital; Entrepreneurship; Foreign Direct Investment; Developing Countries and Economies
Alfaro, Laura, and Andrew Charlton. "International Financial Integration and Entrepreneurial Firm Activity." Harvard Business School Working Paper, No. 07-012, August 2006. (Also NBER Working Paper No. 13118. NBER Working Paper Series, No. 13118, May 2007)
- winter 1985
- Article
Capital Market Myopia
Sahlman, William A., and Howard H. Stevenson. "Capital Market Myopia." Journal of Business Venturing 1, no. 1 (winter 1985): 7–30. (Reprinted as Chap. 3 in The Entrepreneurial Venture, edited by William A. Sahlman, Howard H. Stevenson, Michael J. Roberts and Amar Bhide, 35-64. Boston: Harvard Business School Press, 1999.)
- 2013
- Working Paper
Managers and Market Capitalism
By: Rebecca Henderson and Karthik Ramanna
In a capitalist system based on free markets, do managers have responsibilities to the system itself? If they do, should these responsibilities shape their behavior when they are engaging in the political process in an attempt to structure the institutions of... View Details
- 2020
- Working Paper
Capital Regulation and Product Market Outcomes
By: Ishita Sen and David Humphry
We present evidence of product market adjustments and asset reorganizations from the largest ever shift in risk regulation in a developed insurance market. Using proprietary data on insurance risk exposures from the Bank of England, we develop a measure of regulatory... View Details
Keywords: Non-traditional-non-insurance; Risk Regulation; Product Market Concentration; Small Vs. Large Insurers; Insurance Risk Exposure; Insurance; Risk and Uncertainty; Governing Rules, Regulations, and Reforms
Sen, Ishita, and David Humphry. "Capital Regulation and Product Market Outcomes." Working Paper, January 2020.
- November 2015 (Revised December 2017)
- Case
Public Capital Markets
By: Samuel G. Hanson and Colton Hicks
Hanson, Samuel G., and Colton Hicks. "Public Capital Markets." Harvard Business School Case 216-029, November 2015. (Revised December 2017.)
- March 2014
- Article
Do Analysts Follow Managers Who Switch Companies? An Analysis of Relationships in the Capital Markets
By: Francois Brochet, Gregory S. Miller and Suraj Srinivasan
We examine the importance of professional relationships developed between analysts and managers by investigating analyst coverage decisions in the context of CEO and CFO moves between publicly listed firms. We find that top executive moves from an origin firm to a... View Details
Keywords: Management Turnover; Analyst Coverage; Capital Market Relationships; Capital Markets; Relationships
Brochet, Francois, Gregory S. Miller, and Suraj Srinivasan. "Do Analysts Follow Managers Who Switch Companies? An Analysis of Relationships in the Capital Markets." Accounting Review 89, no. 2 (March 2014).
- 2010
- Working Paper
International Capital Allocation, Sovereign Borrowing, and Growth
By: Laura Alfaro, Sebnem Kalemli-Ozcan and Vadym Volosovych
The key in the investigation of "where" and "why" capital flows, relative to the neoclassical benchmark, is how we measure these flows. The macro literature has been using three main yardsticks: the current account balance, returns to capital, and the volume of net... View Details
Alfaro, Laura, Sebnem Kalemli-Ozcan, and Vadym Volosovych. "International Capital Allocation, Sovereign Borrowing, and Growth." NBER Working Paper Series, No. w17396.
- Research Summary
The Future of Market Capitalism
By: Joseph L. Bower
In 2009 we are aware of the fragile state of our market system. But a careful examination of the long term prospects for the global economy reveal other problems that may destabilize the system that has created so much wealth in the period since the second world... View Details
- 2010
- Other Unpublished Work
International Capital Allocation, Sovereign Borrowing, and Growth
By: Laura Alfaro, Sebnem Kalemli-Ozcan and Vadym Volosovych
The key in the investigation of "where" and "why" capital flows, relative to the neoclassical benchmark, is how we measure these flows. The macro literature has been using three main yardsticks: the current account balance, returns to capital, and the volume of net... View Details
- 2022
- Chapter
Crises and International Business
By: Geoffrey Jones
This chapter uses the intellectual journey of the author to suggest that crises have been the norm rather than the exception in the history of international business. Over the last 100 years world wars, regional conflicts, the Great Depression, and decolonization are... View Details
Keywords: Crisis; Multinational Companies; International Business; Emerging Market; Business History; Multinational Firms and Management; System Shocks; War; Emerging Markets; Crisis Management
Jones, Geoffrey. "Crises and International Business." Chap. 2 in International Business in Times of Crisis. Vol. 16, edited by Rob van Tulder, Alain Verbeke, Lucia Piscitello, and Jonas Puck, 27–32. Progress in International Business Research. Bingley, UK: Emerald Publishing Limited, 2022.
- September 2012
- Teaching Note
Stryker Corporation: Capital Budgeting (TN)
By: Timothy A. Luehrman
This case examines some parts of Stryker Corporation's systems and procedures for approving and authorizing capital spending of many different types, including buildings, machinery, and working capital for existing businesses, as well as transactions with third parties... View Details
- August 1986 (Revised June 1987)
- Case
Lotus Development Corporation: Entering International Markets
By: David B. Yoffie and John J. Coleman
Lotus 1-2-3 exploded on the American market in the spring of 1983. Nine months later Jim Manzi, vice president of marketing, hired Chuck Digate to develop an international strategy for Lotus. Case explores Lotus' rapid rise to the top of the software market in the... View Details
Keywords: Market Entry and Exit; Applications and Software; Global Strategy; Management Teams; Information Technology Industry; United States
Yoffie, David B., and John J. Coleman. "Lotus Development Corporation: Entering International Markets." Harvard Business School Case 387-034, August 1986. (Revised June 1987.)