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  • 30 Sep 2014
  • News

Finding out how much the boss earns

  • 09 Jun 2015
  • First Look

First Look: June 9, 2015

Pay Ratios By: Mohan, Bhavya, Michael I. Norton, and Rohit Deshpandé Abstract— Prior research examining consumer expectations of equity and price fairness has not addressed wage fairness, as measured by a... View Details
Keywords: Sean Silverthorne
  • 2014
  • Article

Unequality: Who Gets What and Why It Matters

By: Michael I. Norton
Who should get what, and what are the consequences? Economic inequality in the United States has been rising for decades, yet only recently have behavioral scientists explored two central questions surrounding the optimal level of inequality. First, what are the... View Details
Keywords: Inequality; Ethics; Productivity; Gambling; Equality and Inequality; Fairness; Income; Performance Productivity; United States
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  • January 2008
  • Background Note

Convertible Arbitrage

By: Joshua Coval and Erik Stafford
The goal of this simulation is to understand how convertible bonds can be viewed as a portfolio of simpler securities and to introduce an over-the-counter market. The convertible bonds that are available during the simulation are at-the-money and in-the-money so that... View Details
Keywords: Bonds; Investment Portfolio; Price; Risk Management; Mathematical Methods
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  • 08 Oct 2010
  • What Do You Think?

Will Transparency in CEO Compensation Have Unintended Consequences?

further thought: "Does increasing transparency and visibility of the ratios help increase the ability for shareholders and boards to make better choices?" He commented, "One of the best agents to advocate for the right... View Details
Keywords: by Jim Heskett
  • 27 Sep 2011
  • Working Paper Summaries

Salience in Quality Disclosure: Evidence from the U.S. News College Rankings

Keywords: by Michael Luca & Jonathan Smith; Education; Information; Publishing
  • Research Summary

Overview

By: Ethan C. Rouen
Relying on empirical archival methodologies—as well as techniques in data science—to develop and structure new sources of data by which to approach questions of looming disclosure changes, Professor Rouen has focused on one of the Securities and Exchange Commission’s... View Details
  • 2025
  • Working Paper

Bank Capital and the Growth of Private Credit

By: Sergey Chernenko, Robert Ialenti and David Scharfstein
We show that business development companies (BDCs), a significant source of private credit, are very well capitalized according to bank capital frameworks. These types of private credit funds have median risk-based capital ratios of about 36%, which is 26 percentage... View Details
Keywords: Financing and Loans; Capital; Credit; Financial Institutions
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    Bank Capital and the Growth of Private Credit

    We show that business development companies (BDCs)—closed-end funds that provide a significant share of nonbank loans to middle market firms—are very well capitalized according to bank capital frameworks. They have median risk-based capital ratios of about 36% and,... View Details
    • 20 Nov 2012
    • First Look

    First Look: November 20

    concentration ratios (CRs), varies across the nine sectors comprising the industry, but all are within the range generally considered as indicative of a competitive industry. At the holding company level, the four largest organizations... View Details
    Keywords: Sean Silverthorne
    • 17 Jan 2018
    • Research & Ideas

    If the CEO’s High Salary Isn't Justified to Employees, Firm Performance May Suffer

    that CEOs take home versus average employee pay is taking on added importance in 2018, as public companies in the United States are mandated for the first time to disclose pay View Details
    Keywords: by Dina Gerdeman
    • Web

    Human Behavior & Decision-Making - Faculty & Research

    cheat more when cheating is more lucrative, but we find that the effect of performance-based pay rates on dishonesty depends on how readily people can compare their pay rate to that of others. In Experiment... View Details
    • 19 Mar 2019
    • First Look

    New Research and Ideas, March 19, 2019

    romantic relationships. Using a sample of romantic dyads, we identify a novel moderating role of mutual agreement, such that both members of a couple must agree that they have a ritual: different couples can see the same consumption behavior (e.g., View Details
    Keywords: Dina Gerdeman
    • 12 Mar 2019
    • First Look

    New Research and Ideas, March 12, 2019

    pursuit of financial gain and pay closer attention to their impact on employees, customers, communities, and the environment. But changing an organization’s DNA may require upending the existing business model and lowering profitability,... View Details
    Keywords: Dina Gerdeman
    • Web

    Financial Accounting Online Course | HBS Online

    performance using profitability, efficiency, leverage, and other ratios. Highlights Profit Margin Cash Conversion Cycle Show Hide Details Concepts Profitability Efficiency Leverage Other Ratios Impact of Policy Differences Featured... View Details
    • Web

    Business Finance Course Online | HBS Online

    Unidentified Industries Ratios Over Time Show Hide Details Concepts Examining the Balance Sheet Utilizing Ratios Finding Meaning Case: Unidentified Industries Comparisons Featured Exercises Categorize... View Details
    • Web

    2023 Reunion Presentations - Alumni

    reversed. The Psychology of (In)equality Professor Mike Norton + More Info – Less Info Our research reveals that people all over the world prefer less inequality – in wealth, health, and income. For example, Americans report an ideal CEO-to-worker View Details
    • 30 Nov 2015
    • Research & Ideas

    Donors Are Turned Off by Overhead Costs. Here’s What Charities Can Do

    their ability to carry out core missions. “Most people donating money wouldn’t choose to contribute to the salary of the organization’s CEO” “As nonprofits try so hard to pare down their overhead expenses, they end up feeding the expectation that the overhead View Details
    Keywords: by Carmen Nobel
    • 11 Oct 2006
    • What Do You Think?

    How Do We Respond to the “Dependency Ratio” Dilemma?

    And consumers are becoming less willing to pay for it in the price of GM's products. When dependency ratios become too burdensome, as in the case of Bethlehem Steel in 2001, where each worker was supporting... View Details
    Keywords: by Jim Heskett
    • 18 Nov 2015
    • Research & Ideas

    Who Really Determines CEO Salary Packages?

    ask? And more specifically, what are the sources of influence on the decisions that they make?” At large public companies, boards of directors are usually in charge of how and what to pay their CEOs. It’s an expensive decision. Among the... View Details
    Keywords: by Carmen Nobel; Consulting