Publications

Article

The Value of Intermediation in the Stock Market

By: Marco Di Maggio, Mark Egan and Francesco Franzoni

We estimate a structural model of broker choice to quantitatively decompose the value that institutional investors attach to broker services. Studying over 300 million institutional equity trades, we find that investors are sensitive to both explicit and implicit... View Details

Keywords: Financial Intermediation; Institutional Investors; Research Analysts; Broker Networks; Equity Trading; Institutional Investing

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Publications - Faculty & Research

Shenzhen Stock Exchange as a setting, we find that, shortly after analysts observe that a firm has been... View Details Keywords: Corporate Disclosure ; Information ; Financial Institutions ; Accounting ; Financial Markets ; Financial... View Details

January 2011
Case

The Risk-Reward Framework at Morgan Stanley Research

By: Suraj Srinivasan and David Lane

The case describes the Risk-Reward framework that Morgan Stanley analysts use as a systematic approach to communicate a broader range of fundamental insights about a company rather than the traditional single point estimates. The goal of the framework is to focus the... View Details

Keywords: Financial Statements; Forecasting and Prediction; Equity; Framework; Management Analysis, Tools, and Techniques; Risk Management; Business Processes; Research; Valuation

March 2023 (Revised June 2025)
Case

Close Concerns: Diabetes Research and Advocacy

By: Regina E. Herzlinger and Brian L. Walker

This case describes the Exit considerations of Kelly Close, HBS MBA, and founder of the primary distributor of diabetes newsletters. It is part of the fourth module in the Innovating in Health Care HBS MBA course, which contains cases of other health care firms that... View Details

Keywords: Diabetes; Health; Health Care; Health Care And Treatment; Health Care Outcomes; Health Care Industry; Knowledge Dissemination; Outcome or Result; Equality and Inequality; Business Model; Entrepreneurship

01 Mar 2005
News

Faculty Research Online

who are increasingly willing and able to care for their own conditions. The result: changing models of health-care delivery. The Bias of Wall Street Analysts Historically, stock analysts’ recommendations have been swayed by business... View Details

Keywords: Colleges, Universities, and Professional Schools; Educational Services

30 Apr 2019
First Look

New Research and Ideas, April 30, 2019

of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people—and... View Details

Keywords: Dina Gerdeman

Fast Answer

HBS Alumni Research Tips: Finding Company News & Industry Research

information, rating, sales data, filings, and industry information. Morningstar Investment Research Center provides financial information on stocks, mutual funds, and exchange-traded funds. Also includes access to... View Details

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Finance - Faculty & Research

produces research addressing issues of present and future importance to managers, regulators, and policy-makers. Finance Unit Our intellectual roots are based in a long line of scholars from Robert Merton whose collaborative work on risk... View Details

2024
Working Paper

Empirical Guidance: Data Processing and Analysis with Applications in Stata, R, and Python

By: Melissa Ouellet and Michael W. Toffel

This paper describes a range of best practices to compile and analyze datasets, and includes some examples in Stata, R, and Python. It is meant to serve as a reference for those getting started in econometrics, and especially those seeking to conduct data analyses in... View Details

Keywords: Empirical Methods; Empirical Operations; Statistical Methods And Machine Learning; Statistical Interferences; Research Analysts; Analytics and Data Science; Mathematical Methods

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Accounting & Management - Faculty & Research

investigate the impact of observing peers’ information acquisition on financial analysts’ allocation of attention. Using the timely disclosure mandate by the Shenzhen Stock Exchange as a setting, we find that, shortly after analysts... View Details

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Organizational Behavior - Faculty & Research

By: Boris Groysberg and Sarah L. Abbott August 2025 | Case | Faculty Research In June 2025, Meta CEO Mark Zuckerberg upped the ante in the ongoing AI talent wars. Some analysts praised Zuckerberg’s... View Details

19 Oct 2015
Research & Ideas

Business Research that Makes for Smarter Public Policy

decisions. Analysts and Advocates Sometimes it’s hard to measure exactly the impact that academic research has on government—or to tell in advance what kind of research will be... View Details

Keywords: by Michael Blanding

01 Oct 1999
News

Finance Conference Explores Research Methodologies

than 2 percent of all research published in the leading finance journals. Accordingly, in early July, HBS finance professor Peter Tufano organized a conference for eighty researchers from the United States... View Details

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Career Outcomes | Research Associates

Research Analyst Economic Research Consultant Vice President of Finance Consultant Decision Scientist Product Manager Research Lab Manager... View Details

November 2007
Case

The 1995 Release of the Institutional Investor Research Report: The Impact of New Information

By: Boris Groysberg, Nitin Nohria and Derek Haas

In 1995, Institutional Investor magazine began selling a complete ranking of the best equity research analysts. This report allowed research firms to assess the relative quality of each analyst across the industry, and this enabled firms to know nearly as much about... View Details

Keywords: Talent and Talent Management; Investment Banking; Retention; Selection and Staffing; Reports; Knowledge Use and Leverage; Performance Evaluation; Banking Industry