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  • 02 Sep 2009
  • Working Paper Summaries

Information Risk and Fair Value: An Examination of Equity Betas and Bid-Ask Spreads

Keywords: by Edward J. Riedl & George Serafeim; Banking
  • 2021
  • Working Paper

The Effects of Temporal Distance on Intra-Firm Communication: Evidence from Daylight Savings Time

By: Jasmina Chauvin, Prithwiraj Choudhury and Tommy Pan Fang
Cross-border communication costs have plummeted and enabled the global distribution of work, but frictions attributable to distance persist. We estimate the causal effects of temporal distance, i.e., time zone separation between employees, on intra-firm communication,... View Details
Keywords: Communication Patterns; Time Zones; Geographic Frictions; Knowledge Workers; Multinational Companies; Communication; Multinational Firms and Management; Geographic Location
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  • 2025
  • Working Paper

Bank Capital and the Growth of Private Credit

By: Sergey Chernenko, Robert Ialenti and David Scharfstein
We show that business development companies (BDCs), a significant source of private credit, are very well capitalized according to bank capital frameworks. These types of private credit funds have median risk-based capital ratios of about 36%, which is 26 percentage... View Details
Keywords: Financing and Loans; Capital; Credit; Financial Institutions
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  • 2023
  • Working Paper

Keep Your Enemies Closer: Strategic Platform Adjustments during U.S. and French Elections

By: Rafael Di Tella, Randy Kotti, Caroline Le Pennec and Vincent Pons
A key tenet of representative democracy is that politicians' discourse and policies should follow voters' preferences. In the median voter theorem, this outcome emerges as candidates strategically adjust their platform to get closer to their opponent. Despite its... View Details
Keywords: Political Ideology; Political Elections; United States; France
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  • 13 May 2008
  • First Look

First Look: May 13, 2008

Publication:Financial Analysts Journal (forthcoming) Abstract We compare the earnings forecast performance of analysts at a large buy-side firm to that of sell-side analysts. Our tests show that the buy-side firm analysts make more... View Details
Keywords: Martha Lagace
  • December 2009
  • Article

Media Markets and Localism: Does Local News en Español Boost Hispanic Voter Turnout?

By: Felix Oberholzer-Gee and Joel Waldfogel
Since the dawn of broadcasting, and especially in the past decade, Americans have turned their attention from local to more distant sources of news and entertainment. While the integration of media markets will raise the private welfare of many consumers, critics of a... View Details
Keywords: Voting; Ethnicity; Behavior; Local Range; Journalism and News Industry; Media and Broadcasting Industry; United States
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  • 05 Mar 2019
  • First Look

New Research and Ideas, March 5, 2019

Yanhua, Jodi L. Short, and Michael W. Toffel Abstract— Exploitive working conditions have spurred companies to pressure their suppliers to adopt labor codes of conduct and to conform their labor practices to the standards set forth in... View Details
Keywords: Dina Gerdeman

    Bank Capital and the Growth of Private Credit

    We show that business development companies (BDCs)—closed-end funds that provide a significant share of nonbank loans to middle market firms—are very well capitalized according to bank capital frameworks. They have median risk-based capital ratios of about 36% and,... View Details
    • 09 Sep 2015
    • HBS Seminar

    Judith A. Chevalier, Yale University

    • 02 Jan 2024
    • Research & Ideas

    10 Trends to Watch in 2024

    The lightning-fast ascent of generative AI isn’t the only sea change on the horizon for businesses in the new year. The global economy is in flux as war, climate change, trade issues, and infrastructure problems demand attention. Many companies continue to struggle to... View Details
    Keywords: by Rachel Layne
    • 11 Mar 2014
    • First Look

    First Look: March 11

    of historical change. Sadly, the field of entrepreneurship as it has evolved in recent decades has become narrow and is often confined to little more than econometric testing of large datasets concerning high tech entrepreneurs in the... View Details
    Keywords: Sean Silverthorne
    • 05 Jun 2007
    • First Look

    First Look: June 5, 2007

    of formal authority, but limited it with democratic mechanisms that enabled experimentation with shifting conceptions of authority over time. When members settle on a shared conception of authority, it is more expansive than their original design. This finding is... View Details
    Keywords: Martha Lagace
    • Research Summary

    Clinical Trials as a setting for Health Policy and Management Research

    The clinical trial marketplace is in flux. A decade ago, pharmaceutical firms almost exclusively conducted the study of their novel drug compounds within major academic medical centers. But today, industry-sponsored clinical trials are increasingly using community... View Details
    • Web

    Marketing - Faculty & Research

    for the 2022 John D. C. Little Award. They study the effect of Airbnb’s smart-pricing algorithm on the racial disparity in the daily revenue earned by Airbnb hosts. Their empirical strategy exploits Airbnb’s introduction of the algorithm... View Details
    • 14 Apr 2009
    • First Look

    First Look: April 14, 2009

    (roommate) problems in which agents can either be matched as pairs or remain single. We introduce a so-called bi-choice graph for each pair of stable matchings and characterize its structure. Exploiting this structure we obtain as a... View Details
    Keywords: Martha Lagace
    • Web

    Behavioral Finance & Financial Stability

    Competition: Effects on Risky Mortgage Origination By: Marco Di Maggio , Amir Kermani & Sanket Korgaonkar FEB 2019 How does financial deregulation affect the use of complex loans features? How do regulated intermediaries react to the deregulation of other lenders? The... View Details
    • 10 Feb 2020
    • In Practice

    6 Ways That Emerging Technology Is Disrupting Business Strategy

    Alexander J. MacKay, an assistant professor of business administration who studies the economics of competition. 4. Platforms are upending traditional business models   “Emerging technologies of all types and forms are helping companies View Details
    Keywords: by Danielle Kost
    • 03 Nov 2015
    • First Look

    November 3, 2015

    Abstract—The effect of vouchers on sorting between private and public schools depends upon the price elasticity of demand for private schooling. Estimating this elasticity is empirically challenging because prices and quantities are jointly determined in the market for... View Details
    Keywords: Sean Silverthorne
    • 07 Jul 2008
    • Research & Ideas

    Innovation Corrupted: How Managers Can Avoid Another Enron

    building on intense lobbying to encourage further domestic deregulation and limit federal oversight of the energy industry, Skilling encouraged Enron executives to exploit to the hilt recent Securities and Exchange Commission rule changes... View Details
    Keywords: by Martha Lagace; Energy; Utilities
    • 20 Jan 2010
    • First Look

    First Look: Jan. 20

    between these variables may be an important determinant of strategic exploitation and exploration activities. Data from the field studies suggest that, in accordance with the controllability principle, accountability and control are... View Details
    Keywords: Martha Lagace