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- All HBS Web (344)
- Faculty Publications (80)
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- All HBS Web (344)
- Faculty Publications (80)
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- 19 May 2011
- Working Paper Summaries
Mandatory IFRS Adoption and Financial Statement Comparability
- 2003
- Book
Profits You Can Trust: Spotting and Surviving Accounting Landmines
By: H. David Sherman, S. David Young and Harris Collingwood
Profits You Can Trust gives managers, directors, lenders, audit partners and analysts a clear framework to demystify global financial reporting in a market fraught with danger. Filled with provocative and enlightening examples, it offers a fresh perspective and clear... View Details
Sherman, H. David, S. David Young, and Harris Collingwood. Profits You Can Trust: Spotting and Surviving Accounting Landmines. Upper Saddle River, NJ: Financial Times Prentice Hall, 2003.
- 19 May 2015
- First Look
First Look: May 19
decreased volatility of supply shocks and increased volatility of the Fed's long-run inflation target. Endogenous responses of bond risk premia amplify these effects of monetary policy on bond risks. Download working paper: http://ssrn.com/abstract=2332106 Career... View Details
Keywords: Sean Silverthorne
- December 2016 (Revised January 2017)
- Supplement
Accounting for the iPhone Upgrade Program (B)
By: Jonas Heese, Krishna G. Palepu, H. David Sherman and Monica Baraldi
In October 2016, Apple Inc. announced the financial results for its fiscal year 2016. CEO Tim Cook commented on a very successful fiscal year 2016 and focused on all the positive financial results. However, Apple’s 2016 annual report was also telling another story.... View Details
Heese, Jonas, Krishna G. Palepu, H. David Sherman, and Monica Baraldi. "Accounting for the iPhone Upgrade Program (B)." Harvard Business School Supplement 117-039, December 2016. (Revised January 2017.)
- 19 May 2008
- Research & Ideas
Connecting School Ties and Stock Recommendations
social networks in the form of school ties—bonds formed based on attendance at a common educational institution—helped equity analysts outperform on stock recommendations when the analysts enjoyed an... View Details
- October 2018 (Revised September 2022)
- Case
Stock-Based Compensation at Twitter
By: Jonas Heese, Zeya Yang and Mike Young
Olivia Nash, an analyst at leading hedge fund BlueShark Capital Management, had just finished listening to the hour-long earnings call for Twitter’s Q4 2017 results. Was Twitter doing well? That depended on which numbers she chose to believe. According to Generally... View Details
Keywords: Twitter; Non-GAAP Disclosure; Stock-based Compensation; Earnings Management; Corporate Disclosure; Compensation and Benefits; Stocks; Measurement and Metrics
Heese, Jonas, Zeya Yang, and Mike Young. "Stock-Based Compensation at Twitter." Harvard Business School Case 119-032, October 2018. (Revised September 2022.)
- 17 Sep 2013
- First Look
First Look: September 17
investor expectations are strongly negatively correlated with model-based expected returns. The evidence is not consistent with rational expectations representative investor models of returns. September 2013 Management Science The Stock Selection and Performance of... View Details
Keywords: Sean Silverthorne
- June 2017
- Case
AT&T Versus Verizon: A Financial Comparison
By: V.G. Narayanan and Joel L. Heilprin
This case asks students to prepare a report comparing the financial and operating performance of AT&T and Verizon. Taking the perspective of a communications industry analyst, they must also consider the differences between and implications of the companies' business... View Details
Keywords: Financial Statements; Operations; Analysis; Business Model; Accounting; Performance Effectiveness; Telecommunications Industry
Narayanan, V.G., and Joel L. Heilprin. "AT&T Versus Verizon: A Financial Comparison." Harvard Business School Brief Case 917-543, June 2017.
- November 2010 (Revised December 2010)
- Case
Electro, Inc.
By: David F. Hawkins
CFO of U.S. company preparing for U.K. analyst meetings reviews his company's 2008 earnings per share calculations. View Details
Keywords: Business Earnings; Financial Reporting; International Accounting; Standards; United Kingdom; United States
Hawkins, David F. "Electro, Inc." Harvard Business School Case 111-058, November 2010. (Revised December 2010.)
- June 2011
- Case
CA Technologies: Bringing the Cloud to Earth
By: Marco Iansiti and Kerry Herman
Adam Famularo, general manager, Cloud Computing business, CA Technologies, and David Dobson, WVP and group executive, Customer Solutions Group, were preparing for a presentation on communicating and positioning CA Technologies' new strategy for cloud computing.... View Details
Keywords: Disruptive Innovation; Product Positioning; Expansion; Internet and the Web; Technology Adoption
Iansiti, Marco, and Kerry Herman. "CA Technologies: Bringing the Cloud to Earth." Harvard Business School Case 611-047, June 2011.
- May 2006
- Case
Nokia in 2003
By: Paul M. Healy
Examines the challenges facing a money manager who owns stock in Nokia, the leading wireless handset provider. Two analysts covering the stock make very different predictions about the economies of the industry, Nokia's future performance, and stock recommendations.... View Details
- April 2004 (Revised April 2011)
- Case
Enron Corporation: May 6, 2001 Sell Recommendation
By: David F. Hawkins and Jacob Cohen
A consulting firm to institutional investors recommends selling Enron Corp.'s equity short on May 6, 2001, while many sellside analysts are recommending the stock as a "buy." View Details
Keywords: Judgments; Financial Reporting; Investment; Competency and Skills; Financial Statements; Consulting Industry
Hawkins, David F., and Jacob Cohen. "Enron Corporation: May 6, 2001 Sell Recommendation." Harvard Business School Case 104-075, April 2004. (Revised April 2011.)
- July 2002 (Revised March 2005)
- Case
Kendall Square Research Corporation (A) (Abridged)
By: William J. Bruns Jr. and F. Warren McFarlan
Kendall Square Research was a small competitor in the supercomputer industry. Sales grew rapidly in 1992 and early 1993, and the company sold stock to the public for the first time. Analysts forecasted higher earnings for 1993, then the company's revenue recognition... View Details
Bruns, William J., Jr., and F. Warren McFarlan. "Kendall Square Research Corporation (A) (Abridged)." Harvard Business School Case 303-036, July 2002. (Revised March 2005.)
- October 2010 (Revised July 2012)
- Supplement
Robin Bienenstock at Sanford C. Bernstein
By: Linda A. Hill and Dana Teppert
Robin Bienenstock, a senior sell-side equity research analyst at Sanford C. Bernstein, considers how to build her research franchise given the changing nature of the industry and the firm. A collaborative research paper called "Computer in Your Pocket" was recently... View Details
Keywords: Employees; Knowledge Dissemination; Knowledge Sharing; Leadership; Groups and Teams; Research; Cooperation; Financial Services Industry
Hill, Linda A., and Dana Teppert. "Robin Bienenstock at Sanford C. Bernstein." Harvard Business School Supplement 411-053, October 2010. (Revised July 2012.)
- 19 Mar 2014
- Working Paper Summaries
The Use of Broker Votes to Reward Brokerage Firms’ and Their Analysts’ Research Activities
- May 2016
- Case
The Inexorable Rise of Walmart? 1988—2016
By: John R. Wells and Gabriel Ellsworth
In October 2015, Walmart surprised investors by announcing that it expected flat sales growth for 2015 and growth of only 3% to 4% over the coming three years. Profits would also fall due to significant investments in people and technology. The company’s stock price... View Details
Keywords: Asda; Costco; David Glass; Convenience Stores; Discount Retailing; Dollar Stores; Doug McMillon; E-commerce; Online Retail; General Merchandise; Grocery; Lee Scott; Mike Duke; Multichannel Retailing; Omnichannel; Neighborhood Market; Sam Walton; Sam's Club; Store Formats; Supercenter; Supermarket; Warehouse Clubs; Merchandising; Walmart; Wal-Mart; Globalized Firms and Management; Competitive Strategy; Corporate Strategy; Growth and Development Strategy; Business Units; Business Divisions; Business Growth and Maturation; Business Model; Business Organization; For-Profit Firms; Film Entertainment; Television Entertainment; Banks and Banking; Price; Profit; Revenue; Food; Global Range; Cross-Cultural and Cross-Border Issues; Global Strategy; Business History; Compensation and Benefits; Employees; Human Capital; Labor Unions; Wages; Business or Company Management; Goals and Objectives; Management Succession; Brands and Branding; Product Positioning; Distribution; Supply Chain; Supply Chain Management; Public Ownership; Problems and Challenges; Labor and Management Relations; Strategy; Adaptation; Business Strategy; Competition; Competitive Advantage; Diversification; Expansion; Segmentation; Information Technology; Internet; Mobile Technology; Online Technology; Web; Web Sites; Retail Industry; Food and Beverage Industry; Distribution Industry; Banking Industry; United States; Arkansas; Bentonville
Wells, John R., and Gabriel Ellsworth. "The Inexorable Rise of Walmart? 1988—2016." Harvard Business School Case 716-426, May 2016.
- June 1997
- Case
Olympic Financial Ltd.
By: Krishna G. Palepu and Sarayu Srinivasan
Olympic Financial is a sub-prime lender in the auto financing industry. Several other financing companies have been wrought with accounting fraud and business mismanagement. Olympic's debt has been downgraded, and its stock has been denigrated although the company is... View Details
Keywords: Business or Company Management; Crime and Corruption; Valuation; Financial Reporting; Credit; Financial Services Industry
Palepu, Krishna G., and Sarayu Srinivasan. "Olympic Financial Ltd." Harvard Business School Case 197-081, June 1997.
- March 2011
- Article
Accounting Scholarship That Advances Professional Knowledge and Practice
By: Robert S. Kaplan
Recent accounting scholarship has used statistical analysis on asset prices, financial reports and disclosures, laboratory experiments, and surveys of practice. The research has studied the interface among accounting information, capital markets, standard setters, and... View Details
Keywords: Corporate Disclosure; Asset Pricing; Risk Management; Surveys; Capital Markets; Measurement and Metrics; Valuation; Fair Value Accounting; Management Analysis, Tools, and Techniques; Financial Reporting
Kaplan, Robert S. "Accounting Scholarship That Advances Professional Knowledge and Practice." Accounting Review 86, no. 2 (March 2011): 367–383.
- January 2013 (Revised August 2013)
- Case
First Solar: CFRA's Accounting Quality Concerns
By: Suraj Srinivasan and Ian McKown Cornell
The case relates to accounting quality analysis conducted by the leading research firm Center for Financial Research and Analysis (CFRA) on companies in the solar industry with a focus on First Solar Inc. In 2009, CFRA was concerned that First Solar, like much of the... View Details
Keywords: Accounting; Accounting Quality; Financial Accounting; Financial Statement Analysis; Accounting Fraud; Accounting Red Flags; Accounting Scandal; Risk and Uncertainty; Quality; Earnings Management; Valuation; Crime and Corruption; Financial Statements; Energy Sources; Green Technology Industry; Accounting Industry; Energy Industry
Srinivasan, Suraj, and Ian McKown Cornell. "First Solar: CFRA's Accounting Quality Concerns." Harvard Business School Case 113-044, January 2013. (Revised August 2013.)
- August 2000 (Revised July 2001)
- Case
Laura Martin: Real Options and the Cable Industry
By: Mihir A. Desai and Peter Tufano
CSFB equity research analyst Laura Martin publishes a report on valuing Cox Communications that introduces an innovative approach to valuation. She contends that EBITDA multiple analysis, typical for the cable industry, is flawed because it overlooks the value of the... View Details
Desai, Mihir A., and Peter Tufano. "Laura Martin: Real Options and the Cable Industry." Harvard Business School Case 201-004, August 2000. (Revised July 2001.)