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  • All HBS Web  (840)
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  • 06 Mar 2018
  • First Look

First Look at Research and Ideas, March 6, 2018

Approach By: Chattopadhyay, Akash, Matthew R. Lyle, and Charles C.Y. Wang Abstract—Expected return proxies (ERP) derived from a log-linear present-value (LPV) framework—combining the book value of equity, profitability, and market... View Details
Keywords: Sean Silverthorne
  • 08 Jul 2008
  • First Look

First Look: July 8, 2008

emphasize and vice versa, an effect we label compensatory fit. We illustrate the concept of compensatory fit by drawing upon qualitative data from a re-organization at Cisco Systems. We also derive formal boundary conditions for... View Details
Keywords: Martha Lagace
  • 03 Jan 2008
  • What Do You Think?

Does Judgment Trump Experience?

Jennifer Davis recalled the "quip that states that some people have 20 years experience and others have had the 1 year of experience 20 times." Stan Heard pointed out, "It is possible to get experience without deriving... View Details
Keywords: by Jim Heskett
  • 17 Dec 2001
  • Research & Ideas

Risks and Rewards of the Intrapreneur

always the wrong thing to do, Gilbert noted, because your project may one day become the core business. GE, once a maker of appliances, now derives 60 percent of its revenue and 70 percent of its profit from financial services. Other keys... View Details
Keywords: by Sean Silverthorne
  • 09 Aug 2016
  • First Look

August 9, 2016

earnings growth by 6%. Consistent with the hypothesis that this effect derives from the local demand channel, we find that consumption is less responsive to local labor demand shocks in counties with more generous benefits. Our analysis... View Details
Keywords: Sean Silverthorne
  • 22 Sep 2009
  • First Look

First Look: September 22

2003. An open-economy after-tax capital asset pricing model is used to derive the hypothesis that JGTRRA should lead to a portfolio reallocation by U.S. investors towards equities in tax-favored countries. A difference-in-difference... View Details
Keywords: Martha Lagace
  • 17 Aug 2010
  • First Look

First Look: August 17

distant markets, by being able as outsiders to see the major social schisms common in host labor markets and potentially exploit the social divide for their own competitive advantage. Using two unique data sets from South Korea, we show that multinationals in the 2000s... View Details
Keywords: Martha Lagace
  • May 1991 (Revised December 1994)
  • Case

State of Connecticut Municipal Swap

By: Andre F. Perold
The state of Connecticut wants to raise $325 million of long-term fixed-rate debt. One alternative is to do this synthetically--issue long-term variable rate debt and enter into an interest rate swap. The case is a vehicle for analyzing various floating rate structures... View Details
Keywords: Borrowing and Debt; Credit Derivatives and Swaps; Interest Rates; Taxation; Management Analysis, Tools, and Techniques; Risk and Uncertainty; New England
Citation
Educators
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Perold, Andre F. "State of Connecticut Municipal Swap." Harvard Business School Case 291-024, May 1991. (Revised December 1994.)
  • 28 May 2014
  • Research & Ideas

Building Histories of Emerging Economies One Interview at a Time

that body of knowledge was derived primarily from companies in the United States, Europe, and Japan. But as emerging markets in Africa, Asia, the Middle East, and Latin America continue to grow, so does an interest in how they came to be... View Details
Keywords: by Julia Hanna
  • 28 Jun 2016
  • First Look

June 28, 2016

have preferences over relative outcomes, we derive predictions about the antecedents and consequences of dividing equity equally among all founders. Using proprietary survey data, we empirically test the predictions. Our central finding... View Details
Keywords: Sean Silverthorne
  • 20 Feb 2006
  • Research & Ideas

Are Company Founders Underpaid?

The interests of these "organizationally centered" executives are more likely to be aligned with those of the owners. Stewards identify closely with the organization and thus derive higher satisfaction from behaviors that... View Details
Keywords: by Sarah Jane Gilbert; Financial Services; Technology
  • 16 Oct 2013
  • Op-Ed

Response to Readers: Combating Climate Change with Nuclear Power and Fracking

newly approved Gen III+ nuclear reactors (e.g., AP-1000 variants or even the still-to-be-approved, but largely derivative Small Modular Reactors) are not likely to produce power cheaply enough to change the currently forecast build out of... View Details
Keywords: by Joe Lassiter; Energy; Utilities
  • 29 Sep 2008
  • Research & Ideas

Financial Crisis Caution Urged by Faculty Panel

much more complicated due in part to the development of mortgage brokers. The new system fueled a bevy of mortgage backed securities and derivatives that were terribly difficult for experts to comprehend, he said. Too much leverage... View Details
Keywords: by Martha Lagace; Financial Services
  • 26 Apr 2011
  • First Look

First Look: April 26

examine a prominent justification for capital income taxation: goods preferred by those with high ability ought to be taxed. In an environment where commodity taxes are allowed to be nonlinear functions of income and consumption, we View Details
Keywords: Sean Silverthorne
  • 03 Dec 2018
  • Research & Ideas

How Companies Can Increase Market Rewards for Sustainability Efforts

flavijus For the first time, a link has been drawn between public sentiment about a company’s sustainability practices and how that company is valued in the market. The results are important both for investors searching for under-valued, socially responsible companies,... View Details
Keywords: by Rachel Layne
  • 09 Feb 2016
  • First Look

February 9, 2016

alternative investment firm peers in assets under management, new business launches, profitability, and market capitalization. Under the leadership of Stephen A. Schwarzman, chairman and CEO, and president and COO Hamilton ("Tony") James, Blackstone's growth... View Details
Keywords: Sean Silverthorne
  • 25 Sep 2012
  • First Look

First Look: September 25

analyst recommendations. Using a unique data set that discloses brokerage firms' commission income derived from each mutual fund client as well as the share holdings of these mutual funds, we find that an analyst's recommendation on a... View Details
Keywords: Sean Silverthorne
  • 12 Mar 2006
  • Research & Ideas

Global Poverty Needs a Global Answer

Business derives its legitimacy from ideology—the ideas of property rights and marketplace competition, for example. In the 1980s, Professor Ezra Vogel of Harvard and I compared the ideologies of nine countries, noting how the sources of... View Details
Keywords: by Cynthia Churchwell
  • 11 Dec 2018
  • First Look

New Research and Ideas, December 11, 2018

Pflueger, Carolin E., Emil Siriwardane, and Adi Sunderam Abstract—We propose a new measure of the economy’s risk appetite based on the valuation of volatile stocks. Unlike proxies for risk appetite derived from aggregates, our measure is... View Details
Keywords: Dina Gerdeman
  • 31 May 2011
  • First Look

First Look: May 31

research on admired companies from four continents, followed in over 20 countries, to derive six propositions about the role of humanistic institutional logic. Download the paper: http://www.hbs.edu/research/pdf/11-119.pdf   Cases &... View Details
Keywords: Sean Silverthorne
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