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  • Article

Investor Sentiment in the Stock Market

By: Malcolm Baker and Jeffrey Wurgler
We examine how investor sentiment affects the cross-section of stock returns. Theory predicts that a broad wave of sentiment will disproportionately affect stocks whose valuations are highly subjective and are difficult to arbitrage. We test this prediction by... View Details
Keywords: Financial Markets; Stocks; Investment Return; Valuation; Forecasting and Prediction; Volatility; Price; Risk and Uncertainty; Behavioral Finance
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  • 12 Jun 2012
  • First Look

First Look: June 12

seek and how firms could deliver it. The result can be new revenue, increased customer satisfaction and loyalty, positive word of mouth, and cost savings. The multiyear process to price the 8 million tickets to the upcoming London 2012... View Details
Keywords: Sean Silverthorne

    The Contract Year Phenomenon in the Corner Office: An Analysis of Firm Behavior During CEO Contract Renewals

    This paper investigates how executive employment contracts influence corporate financial policies during the final year of the contract term, using a new, hand-collected data set of CEO employment agreements. On the one hand, the impending... View Details
    • 2021
    • Chapter

    Towards a Unified Framework for Fair and Stable Graph Representation Learning

    By: Chirag Agarwal, Himabindu Lakkaraju and Marinka Zitnik
    As the representations output by Graph Neural Networks (GNNs) are increasingly employed in real-world applications, it becomes important to ensure that these representations are fair and stable. In this work, we establish a key connection between counterfactual... View Details
    Keywords: Graph Neural Networks; AI and Machine Learning; Prejudice and Bias
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    • February 2025
    • Article

    Improving Customer Compatibility with Tradeoff Transparency

    By: Ryan W. Buell and MoonSoo Choi
    Through a large-scale field experiment with 393,036 customers considering opening a credit card account with a nationwide retail bank, we investigate how providing transparency into an offering’s tradeoffs affects subsequent rates of customer acquisition and long-run... View Details
    Keywords: Transparency; Customer Selection; Customer Compatibility; Retention; Service Operations; Service Delivery; Marketing Strategy; Marketing Communications; Customer Focus and Relationships; Customer Satisfaction; Banking Industry; Australia
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    • 2017
    • Working Paper

    The Effectiveness of White-Collar Crime Enforcement: Evidence from the War on Terror

    By: Trung Nguyen
    This paper studies the deterrent effect of criminal enforcement on white-collar criminal activities. Using the 9/11 terrorist attacks as a shock to the FBI’s allocation of investigative resources and priorities, and variations in the Muslim population in the United... View Details
    Keywords: Regulation; Fraud; White-collar Crime; Enforcement; Crime and Corruption; Law Enforcement; System Shocks
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    • April 2009
    • Case

    Performance Management at Intermountain Healthcare

    By: Richard M.J. Bohmer and Alexander Romney
    Intermountain Healthcare is a 21-hospital integrated delivery system serving Utah and southern Idaho that is nationally recognized for its highly structured approach to managing the quality of clinical care. This case describes Intermountain's system for improving... View Details
    Keywords: Financial Strategy; Health Care and Treatment; Standards; Service Delivery; Outcome or Result; Motivation and Incentives; Health Industry; Idaho; Utah
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    • July 2010
    • Case

    Mekong Capital: Building a Culture of Leadership in Vietnam

    By: Christopher Marquis, Vinay Ganti, Kevin Smith and Doug Guthrie
    Mekong Capital, a private equity firm specializing in investing in Vietnam, had grown dramatically since its inception in 2002 and faced numerous organizational issues in 2007. There was a shortage of qualified middle managers, an overall lack of leadership, and a... View Details
    Keywords: Entrepreneurship; Leading Change; Organizational Change and Adaptation; Organizational Culture; Performance Improvement; Groups and Teams; Alignment; Financial Services Industry
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    • 07 Aug 2019
    • Research & Ideas

    Big Infrastructure May Not Always Produce Big Benefits

    vis-a-vis local financial development in districts all along the route, is the first paper to connect microlevel financial development with infrastructure development. The paper, Infrastructure and Finance:... View Details
    Keywords: by Martha Lagace; Construction
    • February 1995 (Revised November 1996)
    • Case

    MasterCard and World Championship Soccer

    By: John A. Quelch and Carin-Isabel Knoop
    The MasterCard vice president for global promotions and other MasterCard executives are appraising the results of MasterCard's worldwide sponsorship of the 1994 World Cup soccer championship. They must decide whether to commit to sponsor the 1998 championship to be... View Details
    Keywords: Credit Cards; Marketing Strategy; Multinational Firms and Management; Advertising Campaigns; Globalization; Sports; Financial Services Industry; Financial Services Industry; France; United States
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    • September 2008
    • Supplement

    Mr. Nelson Peltz, Founding Partner, Trian Partners. Interviewed by Professor John Quelch

    By: John A. Quelch
    Professor John Quelch interviewed Mr. Nelson Peitz, Founding Partner of Trian Partners on events and decisions leading up to the decision to acquire the Snapple brand and the results of that corporate decision. View Details
    Keywords: Mergers and Acquisitions; Decision Choices and Conditions; Private Equity; Investment; Brands and Branding; Financial Services Industry; Financial Services Industry
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    • 2014
    • Working Paper

    The Contract Year Phenomenon in the Corner Office: An Analysis of Firm Behavior During CEO Contract Renewals

    By: Ping Liu and Yuhai Xuan
    This paper investigates how executive employment contracts influence corporate financial policies during the final year of the contract term, using a new, hand-collected data set of CEO employment agreements. On the one hand, the impending expiration of fixed-term... View Details
    Keywords: Management Style; Contracts; Behavior; Employment
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    • 14 Dec 2011
    • Research & Ideas

    The New Measures for Improving Nonprofit Performance

    multiple stakeholders, including funders, boards, and clients—all while staying true to a core mission and values. In today's climate of scarce economic resources, the pressure for nonprofits to show quantifiable results is greater than... View Details
    Keywords: by Julia Hanna
    • 15 Feb 2016
    • Working Paper Summaries

    Replicating Private Equity with Value Investing, Homemade Leverage, and Hold-to-Maturity Accounting

    Keywords: by Erik Stafford; Financial Services; Financial Services
    • Research Summary

    Impact Investing

    In the last decade, inspired by the success of commercial microfinance, the concept of applying the practice of equity investing to the delivery of high social impact interventions has drawn increasing attention in development circles, business academia and... View Details
    • January 2021
    • Supplement

    A Half-Deal

    By: Marco Di Maggio, Pedro Levindo and Carla Larangeira
    In June 2020, XP and Itaú faced intensified competition and tension in their partnership, with the latter owning a minority stake at XP. Two years earlier, in May 2017, Itaú had announced it would acquire 49.9% of XP for $1.8 billion, followed by three additional... View Details
    Keywords: Fintech; Financing Strategy; Competition; Partners and Partnerships; Financing and Loans; Strategy; Latin America; Brazil
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    • 2013
    • Chapter

    The Welfare State as an Investment Strategy: Denmark’s Flexicurity Policies

    By: Arthur Daemmrich and Thomas Bredgaard
    This chapter examines how the welfare state can serve as a national strategy to invest in economic competitiveness and sustainable national prosperity, as well as the significant challenges associated with operating an open economy in a period of increased labor... View Details
    Keywords: Open Economy; Welfare; Competitive Advantage; Economic Growth; Human Capital; Government and Politics; Denmark
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    • 29 Sep 2009
    • First Look

    First Look: September 29

    provide indirect evidence as to why firm managers may cater to the demand for dividends from local seniors. Overall, these results suggest that the composition of a firm's investor base affects corporate policy choices. Download the paper... View Details
    Keywords: Martha Lagace
    • 23 Jul 2024
    • Research & Ideas

    Forgiving Medical Debt Won't Make Everyone Happier

    burdens, like student debt or mortgages. One reason for that may be that medical debt is often involuntary and much less likely to be repaid than these other types of debt, Kluender suggests. Unexpected result merits more study Kluender... View Details
    Keywords: by Rachel Layne; Health
    • July 2010
    • Supplement

    Post-Crisis Compensation at Credit Suisse (C)

    By: Clayton S. Rose and Aldo Sesia
    The (C) case describes the results of Credit Suisse's PIP I program, the value of PAF, shareholders' vote on the new compensation plan supported by management, and the impact of the company's approach to the U.K. banker's tax. View Details
    Keywords: Voting; Taxation; Compensation and Benefits; Business and Shareholder Relations; Financial Services Industry; Financial Services Industry; Switzerland; United Kingdom
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