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Show Results For
- All HBS Web
(1,597)
- People (2)
- News (312)
- Research (1,152)
- Events (5)
- Multimedia (9)
- Faculty Publications (585)
- 19 Jan 2009
- News
Sour stock market stalls initial public offerings
- Fast Answer
Stock Pitching: company, industry and market research
What resources should I use to formulate a stock pitch? Research Topics Suggested Resources Company Bloomberg Current and historical financial information on individual... View Details
- May 2020
- Article
The Creation and Evolution of Entrepreneurial Public Markets
By: Shai Bernstein, Abhishek Dev and Josh Lerner
This paper explores the creation and evolution of new stock exchanges around the world geared towards entrepreneurial companies, known as second-tier exchanges. Using hand-collected novel data, we document the proliferation of these new stock exchanges that were... View Details
Keywords: Stock Exchanges; Entrepreneurship; Finance; Initial Public Offering; Capital; Entrepreneurial Finance
Bernstein, Shai, Abhishek Dev, and Josh Lerner. "The Creation and Evolution of Entrepreneurial Public Markets." Journal of Financial Economics 136, no. 2 (May 2020): 307–329.
- 15 Feb 2021
- News
This Is Where the Real Stock Market Bubble Is
- May 2013
- Article
The Stock Selection and Performance of Buy-Side Analysts
Prior research on equity analysts focuses almost exclusively on those employed by sell-side investment banks and brokerage houses. Yet investment firms undertake their own buy-side research and their analysts face different stock selection and recommendation incentives... View Details
Keywords: Buy-side Analysts; Sell-side Analysts; Stock Recommendations; Recommendation Optimism; Recommendation Performance; Investment Recommendations; Conflicts Of Interest; Financial Markets; Financial Institutions; Financial Services Industry; United States
Groysberg, Boris, Paul Healy, George Serafeim, and Devin Shanthikumar. "The Stock Selection and Performance of Buy-Side Analysts." Management Science 59, no. 5 (May 2013): 1062–1075.
- 23 Aug 2018
- News
Why recent stock market gains might not benefit the economy
- 05 Sep 2019
- Working Paper Summaries
The Value of Intermediation in the Stock Market
- spring 1974
- Article
The Optimality of a Competitive Stock Market
By: Robert C. Merton and Marti G. Subrahmanyam
Merton, Robert C., and Marti G. Subrahmanyam. "The Optimality of a Competitive Stock Market." Bell Journal of Economics and Management Science 5, no. 1 (spring 1974): 145–170.
- May – June 1981
- Article
Is Your Stock Worth Its Market Price?
By: W. E. Fruhan Jr. and Thomas R. Piper
Fruhan, W. E., Jr., and Thomas R. Piper. "Is Your Stock Worth Its Market Price?" Harvard Business Review 59, no. 3 (May–June 1981).
- January 1987
- Article
Dividend Behavior for the Aggregate Stock Market
By: Terry A. Marsh and Robert C. Merton
Marsh, Terry A., and Robert C. Merton. "Dividend Behavior for the Aggregate Stock Market." Journal of Business 60 (January 1987): 1–40.
- Article
The Stock Selection and Performance of Buy-Side Analysts
We examine the selection and performance of stocks recommended by analysts at a large investment firm relative to those of sell-side analysts during the period mid-1997 and 2004. The buy-side firm's analysts issued less optimistic recommendations for stocks with larger... View Details
Keywords: Buy-side Analysts; Sell-side Analysts; Stock Recommendations; Recommendation Optimism; Recommendation Performance; Investment Recommendations; Conflicts Of Interest; Financial Markets; Financial Institutions; Stocks; Financial Services Industry; United States
Groysberg, Boris, Paul M. Healy, Georgios Serafeim, Devin Shanthikumar, and Gui Yang. "The Stock Selection and Performance of Buy-Side Analysts." Harvard Business School Working Knowledge (March 20, 2012).
- September 2008
- Article
Does Innovation Cause Stock Market Runups? Evidence from the Great Crash
By: Tom Nicholas
This article examines the stock market's changing valuation of corporate patentable assets between 1910 and 1939. It shows that the value of knowledge capital increased significantly during the 1920s compared to the 1910s as investors responded to the quality of... View Details
Keywords: History; Technological Innovation; Patents; Stocks; Valuation; Financial Crisis; Financial Services Industry; United States
Nicholas, Tom. "Does Innovation Cause Stock Market Runups? Evidence from the Great Crash." American Economic Review 98, no. 4 (September 2008): 1370–1396.
- June 1995
- Teaching Note
ARPPS: Adjustable Rate Perpetual Preferred Stock and MMP: Money Market Preferred Stock TN
By: Andre F. Perold and Wai Lee
Keywords: Stocks
- 2021
- Working Paper
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; Financial Services Industry
Di Maggio, Marco, Mark Egan, and Francesco Franzoni. "The Value of Intermediation in the Stock Market." Harvard Business School Working Paper, No. 20-016, August 2019. (Revised June 2021. Accepted at the Journal of Financial Economics.)
- 08 Aug 2011
- News
Treasury, Stock Markets After U.S. Debt Rating Cut
- 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
Di Maggio, Marco, Mark Egan, and Francesco Franzoni. "The Value of Intermediation in the Stock Market." Journal of Financial Economics 145, no. 2A (August 2022): 208–233.
- February 1996 (Revised May 1996)
- Teaching Note
ARPPS: Adjustable Rate Perpetual Preferred Stock & MMP: Money Market Preferred Stock TN
By: Andre F. Perold and Wai Lee
Keywords: Stocks
- Working Paper
Index Rebalancing and Stock Market Composition: Do Indexes Time the Market?
By: Marco Sammon and John J. Shim
Value-weighted indexes must rebalance in response to stock market composition changes, e.g., issuance, buybacks, and IPOs. In doing so, existing index funds implicitly engage in market timing. Index funds’ long-short rebalancing portfolios have a -3.5% annual return... View Details
Sammon, Marco, and John J. Shim. "Index Rebalancing and Stock Market Composition: Do Indexes Time the Market?" SSRN Working Paper Series, No. 5080459, May 2025.
- Spring 2013
- Article
Accounting Quality, Stock Price Delay, and Future Stock Returns
By: Jeffrey Callen, Mozaffar N. Khan and Hai Lu
In frictionless capital markets with complete information and rational investors, stock prices adjust to new information instantaneously and completely. However, a substantial body of research studies information imperfections such as asymmetric information and... View Details
Callen, Jeffrey, Mozaffar N. Khan, and Hai Lu. "Accounting Quality, Stock Price Delay, and Future Stock Returns." Contemporary Accounting Research 30, no. 1 (Spring 2013): 269–295.
- October 1995
- Article
New Trading Practices and Short-Run Market Efficiency
By: Kenneth A. Froot and André Perold
Keywords: Institutional Investing; Market Efficiency; Behavioral Finance; Equities; Stock Market; Indexing; Financial Markets; Asset Pricing
Froot, Kenneth A., and André Perold. "New Trading Practices and Short-Run Market Efficiency." Journal of Futures Markets 15, no. 7 (October 1995): 731–766. (Revised from NBER Working Paper No. 3498, October 1990.)