Publications

February 2023
Teaching Note

Bear to Bull? An Analyst’s Journey with Netflix

By: Aiyesha Dey and Joseph Pacelli

Teaching Note for HBS Case No. 123-001. Wedbush Securities analyst Michael Pachter said “hell freezing over” was more likely than him upgrading the “sell” rating he had maintained on movie and television streaming giant Netflix since 2011, despite meteoric subscriber... View Details

Keywords: Equity; Analysis; Stock Shares

Article

Does the Scope of the Sell-Side Analyst Industry Matter? An Examination of Bias, Accuracy, and Information Content of Analyst Reports

By: Kenneth Merkley, Roni Michaely and Joseph Pacelli

We examine changes in the scope of the sell-side analyst industry and whether these changes impact information dissemination and the quality of analysts’ reports. Our findings suggest that changes in the number of analysts covering an industry impact analyst... View Details

Keywords: Analyst Industry; Sell-side Analysts; Analyst Reports; Finance; Analysis; Information; Reports; Quality; Financial Services Industry

Find at Harvard

Register to Read

November 1993 (Revised March 1994)
Case

Sierra On-Line (B): An Analyst's Perspective

David Farina, an analyst for William Blair and Co., has just completed a draft of a research report on Sierra On-Line, a fast growing software developer. Sierra is a tough company to analyze, and David is pondering whether to modify this draft or submit it for... View Details

Keywords: Analysis; Software; Entrepreneurship; Finance; Financial Services Industry

April 1996 (Revised May 2000)
Case

Bed Bath & Beyond

By: Amy P. Hutton and James Weber

This case examines how accurately investors have incorporated information about the growth strategy of Bed Bath & Beyond (BBBY) into share price, especially given the changing competitive environment in the housewares industry and the recent Barron's article pointing... View Details

Keywords: Analysis; Valuation; Financial Statements; Consumer Products Industry; Retail Industry

September 2022 (Revised December 2022)
Case

QED Invests in Africa

By: Álvaro Rodríguez Arregui and James Barnett

In March 2022, investors at venture capital firm QED consider strategy for establishing business in Africa. View Details

Keywords: Analysis; Investment; Geography; Markets; Operations; Strategic Planning; Strategy; Financial Services Industry; Africa; Nigeria; North America; Canada; Europe; Asia; Latin America

Career Coach

Cindy Horowitz

experience in a PE portfolio company. Other areas which she enjoys include advising on work life balance and dual career families. Work Experience: CFO of Hollinger International, Group CFO at Primedia, Division CFO and Corporate Staff at Citicorp, View Details

Keywords: Financial Services (All); Financial Services (All); Financial Services (All); Financial Services (All); Financial Services (All)

05 Jul 2017
Research & Ideas

Are Stockbrokers Illegally Leaking Confidential Information to Favored Clients?

investors (such as hedge funds, mutual funds, and pension funds) from 1999 to 2014. The information came from Abel Noser Solutions (formerly Ancerno Ltd.), a firm that performs transaction cost analysis for institutional investors—and... View Details

Keywords: by Carmen Nobel; Financial Services

15 Jun 2021
News

The Value of Difficult Conversations

of the many lessons Desai hoped the case would impart: the importance of having difficult conversations and approaching them with empathy. Desai, the Mizuho Financial Group Professor of Finance, was inspired to write about the Tulsa... View Details

Keywords: April White; Tulsa Massacre

Web

Curriculum | MBA

internship in the second summer. A typical candidate will follow the sample schedule outlined below. MBA/MPP Year 1 Harvard Kennedy School Fall Term Resources, Incentives and Choices I: Markets and Market Failures Quantitative Analysis... View Details

18 Oct 2004
Research & Ideas

The Bias of Wall Street Analysts

overoptimistic assumptions embedded in that research. The bigger problem is that not all investors are able to rigorously study financial statement analysis and valuation, and given constraints on time,... View Details

Keywords: by Ann Cullen; Financial Services

03 Apr 2006
Research & Ideas

The Competitive Advantage of Global Finance

most also influence their decisions. Q: Why did you decide to pursue an analysis of these decisions through cases? A: As I began on the path to explore these financial decisions, it became clear that... View Details

Keywords: by Sean Silverthorne; Financial Services

15 Sep 2016
News

US Competitiveness Report Sees ‘A Nation Divided’

Harvard Business School today released "Problems Unsolved and a Nation Divided," a comprehensive analysis of the state of US competitiveness in 2016, based on five years of the US Competitiveness Project's multi-faculty research. The US... View Details

February 1996 (Revised February 1997)
Case

America Online, Inc.

By: Amy P. Hutton and Krishna G. Palepu

America Online's (AOL) stock price has soared nearly 2,000% since its IPO. However, there is considerable disagreement among analysts regarding the future prospects of AOL. Although many analysts are bullish on the stock, short sellers have sold around 7 million... View Details

Keywords: Cost Accounting; Analysis; Stocks; Decision Choices and Conditions; Financial Statements; Business Strategy; Web Services Industry