Publications

September 2011
Article

What Drives Sell-Side Analyst Compensation at High-Status Investment Banks?

By: Boris Groysberg, Paul M. Healy and David A. Maber

We use proprietary data from a major investment bank to investigate factors associated with analysts' annual compensation. We find compensation to be positively related to "All-Star" recognition, investment-banking contributions, the size of analysts' portfolios, and... View Details

Keywords: Investment Banking; Research; Compensation and Benefits; Investment Portfolio; Forecasting and Prediction; Resource Allocation; Status and Position; Business Earnings; Quality; Revenue; Stocks; Voting

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December 2014
Article

Market Competition, Earnings Management, and Persistence in Accounting Profitability Around the World

By: Paul M. Healy, George Serafeim, Suraj Srinivasan and Gwen Yu

We examine how cross-country differences in product, capital, and labor market competition, and earnings management affect mean reversion in accounting return on assets. Using a sample of 48,465 unique firms from 49 countries, we find that accounting returns mean... View Details

Keywords: Corporate Performance; Valuation; Equity Valuation; Persistence; Competitive Advantage; Institutions; Earnings Management; Labor Market; Capital Markets; Competition; Profit; Performance; Supply and Industry; Financial Statements; Government and Politics; Globalized Markets and Industries

31 Mar 2009
First Look

First Look: March 31, 2009

http://www.hbs.edu/research/pdf/09-101.pdf Does Public Ownership of Equity Improve Earnings Quality? Authors:Dan Givoly, Carla Hayn, and Sharon P. Katz Abstract We compare the quality of accounting numbers produced by two types of public... View Details

Keywords: Martha Lagace

January 2010
Article

Buy Local? The Geography of Successful Venture Capital Expansion

By: Henry Chen, Paul A. Gompers, Anna Kovner and Josh Lerner

We document geographic concentration by both venture capital firms and venture capital-financed companies in three metropolitan areas: San Francisco, Boston, and New York. We find that venture capital firms locate in regions with high success rates of venture... View Details

Keywords: Venture Capital; Expansion; Success; Capital; Geographic Location; Business Units; Corporate Accountability; Business Offices; Goals and Objectives; Mission and Purpose; Investment Funds; Corporate Governance; Boston; New York (state, US); San Francisco

16 Dec 2014
First Look

First Look: December 16

benefits are at most partially realized. The same institutions and practices that facilitate efficient ad placement can also facilitate fraud. The networks that should be serving advertisers have decidedly mixed incentives, such as cost savings from cutting corners,... View Details

Keywords: Sean Silverthorne

07 Feb 2012
First Look

First Look: February 7

has been divided by both worldview and practice. Why, in the face of the common challenge of dependence on imported Russian gas, have national reactions to such vulnerability varied so dramatically across the continent? And why have a... View Details

Keywords: Sean Silverthorne

2017
Working Paper

Shopping for Confirmation: How Disconfirming Feedback Shapes Social Networks

By: Paul Green Jr., Francesca Gino and Bradley Staats

Many organizations employ interpersonal feedback processes as a structured means of informing and motivating employee improvement. Ample evidence suggests that these feedback processes are largely ineffective, and despite a wealth of prescriptive literature, these... View Details

Keywords: Developmental Feedback; Self-concept; Positive Illusions; Social Network; Threat; Identity; Social and Collaborative Networks; Behavior; Performance; Social Media

08 Oct 2013
First Look

First Look: October 8

differentiate "quality FDI" in several different ways. First, we look at the possibility that the effects of FDI differ by sector. Second, we differentiate FDI based on objective qualitative industry characteristics including... View Details

Keywords: Sean Silverthorne

2021
Working Paper

rTSR: Properties, Determinants, and Consequences of Benchmark Choice

By: Paul Ma, Jee-Eun Shin and Charles C.Y. Wang

We develop a measurement-error framework for assessing the quality of relative-performance metrics designed to filter out the systematic component of performance and analyze relative total shareholder return (rTSR)—the predominant metric market participants use to... View Details

Keywords: Relative TSR; Relative Performance Evaluation; Systematic Risk; Board Of Directors; Compensation Consultants; Style Effects; Executive Compensation; Performance Evaluation; Corporate Governance

15 Jul 2008
First Look

First Look: July 15, 2008

and Rohini Somanathan Publication:In Handbook of Development Economics. Vol. 4, edited by T. Paul Schultz and John Strauss. Elsevier Science & Technology Books, 2008 Abstract This chapter focuses on the... View Details

Keywords: Martha Lagace

14 Sep 2010
First Look

First Look: September 14, 2010

problem when they first emerged but was ultimately overcome by changes in the innovation ecosystem. However, incumbents in the oil and power sector are different in two respects. First, they are producing a commodity and hence face little... View Details

Keywords: Sean Silverthorne

12 Jan 2010
First Look

First Look: Jan. 12

to meet or beat key benchmarks. This paper examines this hypothesis by testing how different types of marketing expenditures are used to boost earnings for a durable commodity consumer product, which can be easily stockpiled View Details

Keywords: Martha Lagace

June 2019 (Revised February 2020)
Case

Eric Hawkins Leading Agile Teams @ Digitally-Born AppFolio (A)

By: Tsedal Neeley, Paul Leonardi and Michael Norris

Eric Hawkins, director of engineering at AppFolio—a digital technology firm that offered cloud-based business software to small and medium sized companies—was shocked by an unusual request from his senior leadership team. Could Hawkins and one of his agile teams build... View Details

Keywords: Values; Agile; Vision; Corporate Culture; Leadership; Values and Beliefs; Organizational Culture; Decision Choices and Conditions; Digital Transformation; Technology Industry; United States; California

Educators

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08 Jul 2014
First Look

First Look: July 8

Publications 2014 AMACOM Own Your Future: How to Think Like an Entrepreneur and Thrive in an Unpredictable Economy By: Brown, Paul B., Charles F. Kiefer, and Leonard A. Schlesinger Abstract—It used to be that if you studied and worked... View Details

Keywords: Carmen Nobel

28 May 2008
First Look

First Look: May 28, 2008

Working PapersAgency and Institutions: A Review of Institutional Entrepreneurship Authors:Julie Battilana, Bernard Leca, and Eva Boxenbaum Abstract This paper analyzes the literature that has been published on institutional entrepreneurship since View Details

Keywords: Martha Lagace

2017
Working Paper

Seeking to Belong: How the Words of Internal and External Beneficiaries Influence Performance

By: Paul Green, Francesca Gino and Bradley R. Staats

In this paper, we examine how connecting to beneficiaries of one’s work increases performance and argue that beneficiaries internal to an organization (i.e., one’s own colleagues) can serve as an important source of motivation, even in jobs that—on the surface—may seem... View Details

Keywords: Prosocial Motivation; Belongingness; Motivation; Job Design; Field Experiment; Motivation and Incentives; Strategy; Job Design and Levels