Publications

March 2013
Article

The Client Is King: Do Mutual Fund Relationships Bias Analyst Recommendations?

By: Michael Firth, Chen Lin, Ping Liu and Yuhai Xuan

This paper investigates whether the business relations between mutual funds and brokerage firms influence sell-side analyst recommendations. Using a unique data set that discloses brokerage firms' commission income derived from each mutual fund client as well as the... View Details

Keywords: Prejudice and Bias; Decision Choices and Conditions; Investment Funds

2001
Chapter

Publicly Funded Science and the Productivity of the Pharmaceutical Industry

By: Rebecca Henderson and Ian Cockburn

U.S. taxpayers funded $14.8 billion of health related research last year, four times the amount that was spent in 1970 in real terms. In this paper we evaluate the impact of these huge expenditures on the technological performance of the pharmaceutical industry. While... View Details

Keywords: Public Sector; Science-Based Business; Research and Development; Sovereign Finance; Pharmaceutical Industry

Find at Harvard

June 2020 (Revised August 2020)
Supplement

Vanguard Retail Operations (B)

By: Willy C. Shih and Antonio Moreno

The first two cases in this series are set in the financial services industry, and explore whether it is better for back-office workers to be generalists who provide the flexibility of being able to handle the complete range of transactions that the company faces or... View Details

Keywords: Pooling; Generalist Model; Specialist Model; Service Operations; Management; Financial Services Industry; United States

06 Sep 2005
Research & Ideas

The Best Place for Retirement Funds

or an equity mutual fund that holds low-dividend stocks and passes through little in the way of realized capital gains. A high-tax asset might be a standard corporate bond, since the interest payments on a bond held in a taxable account... View Details

Keywords: by Ann Cullen

01 Mar 2013
News

FAQ: How is research funded at HBS?

www.hbs.edu/faculty. All research at HBS is funded internally, without the constraints of traditional external grant funding, thanks to alumni support and income from Executive Education and Harvard Business... View Details

Keywords: Business Schools & Computer & Management Training; Educational Services

Web

Career Support & Exploration Funds | MBA

Career Support & Exploration Funds Attending Harvard Business School is a profound and life-changing experience. So it’s no surprise that so many students change career paths after completing their MBA. The School has a strong commitment... View Details

01 Feb 2002
News

Springboard Boosts Funding Prospects for Women Entrepreneurs

in a nationwide series. Presenters were seeking capital in the $1 million to $15 million range for companies involved in software, life sciences, business products and services, information services, information technology, and consumer products. The entrepreneurs were... View Details

Keywords: Management, Scientific, and Technical Consulting Services; Professional Services

04 Dec 2019
News

Skydeck Live: The Case for Funding Female Founders

the VC world, sitting on the other side of the table, that she realized the extent of the funding problem that female founders were facing. It was bizarre, Dodi thought. She knew that a diversity of views meant a higher return on... View Details

2020
Working Paper

Cutting the Gordian Knot of Employee Health Care Benefits and Costs: A Corporate Model Built on Employee Choice

By: Regina E. Herzlinger and Barak D. Richman

The U.S. employer-based health insurance tax exclusion created a system of employer-sponsored insurance (ESI) with limited insurance choices and transparency that may lock employed households into health plans that are costlier or different from those they prefer to... View Details

Keywords: After-tax Income; Consumer-driven Health Care; Health Care Costs; Health Insurance; Income Inequality; Tax Policy; Health Care and Treatment; Cost; Insurance; Employees; Income; Taxation; Policy; United States

SSRN

August 2014
Article

What Makes Annuitization More Appealing?

By: John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian and Stephen P. Zeldes

We conduct and analyze two large surveys of hypothetical annuitization choices. We find that allowing individuals to annuitize a fraction of their wealth increases annuitization relative to a situation where annuitization is an "all or nothing" decision. Very few... View Details

Keywords: Annuity; Pension; Retirement Income; Framing; Annuities; Retirement

Find at Harvard

01 Oct 2002
News

Dean Clark on Leadership, Educational Priorities, and Funding the Future

Not only that, but when our students go on to lead enterprises and governments around the world, they will do so having formed strong bonds here at HBS — bonds that will help to promote understanding between nations in the future. HBS is consciously drawing students... View Details

15 Feb 2017
Op-Ed

What Africa Can Teach the United States About Funding Infrastructure Projects

States, where the ability to fund infrastructure is less obvious than it may seem at first glance. The infrastructure paradox There is plenty of capital in the global financial system: upward of US $20 trillion invested in fixed View Details

Keywords: by John Macomber; Construction

June 2021
Case

The Canada Pension Plan Investment Board (CPP Investments): April 2021

By: Josh Lerner, Reza Satchu and Alys Ferragamo

The Canada Pension Plan Investment Board (CPPIB) is one of the largest pools of investment capital in the world and follows a rigorous “Total Portfolio Framework” in its approach to investment management. In April of 2021, John Graham was just two months into his role... View Details

Keywords: Pension Funds; Investment Strategy; Capital Markets; Financial Strategy; Investment; Asset Management; Financial Institutions; Private Equity; Growth and Development Strategy; Investment Portfolio; Assets; Financial Markets; Financial Services Industry; Canada

04 Jun 2009
Working Paper Summaries

Can a Continuously-Liquidating Tontine (or Mutual Inheritance Fund) Succeed where Immediate Annuities Have Floundered?

Keywords: by Julio J. Rotemberg; Financial Services

April 2011 (Revised June 2014)
Case

Securities Lending After the Financial Crisis

By: Robert C. Pozen and Gayle Hameister

In April 2009, Wendy Jefferson had just returned to her office following a whirlwind day of meetings with her newest client, Star Advisor. Jefferson, a financial services consultant, was eager to dig into the information provided to her and her team about the Star... View Details

Keywords: Business Earnings; Debt Securities; Financing and Loans; Investment Funds; Governing Rules, Regulations, and Reforms; Information

30 Oct 2017
News

Harvard Business School’s Rock Center Announces 15 Teams for Rock Accelerator Program

May 2005 (Revised January 2006)
Case

Mortgage Backs at Ticonderoga

Ticonderoga is a small hedge fund that trades in mortgage-backed securities--securities created from pooled mortgage loans. They often appear as straightforward so-called "pass-throughs," but can also be pooled again to create collateral for a mortgage security known... View Details

Keywords: Debt Securities; Mortgages; Investment Funds