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Show Results For
-
All HBS Web
(2,900)
- People (8)
- News (732)
- Research (1,566)
- Events (5)
- Multimedia (14)
- Faculty Publications (974)
- April 2010
- Article
Executive Pay and 'Independent' Compensation Consultants
By: K. J. Murphy and Tatiana Sandino
Executive compensation consultants face potential conflicts of interest that can lead to higher recommended levels of CEO pay, including the desires to "cross-sell" services and to secure "repeat business." We find evidence in both the US and Canada that CEO pay is...
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Keywords:
Compensation Consultants;
Conflicts Of Interest;
CEO Pay;
Board Of Directors;
Director Pay;
Disclosure;
Conflict of Interests;
Governing and Advisory Boards;
Corporate Disclosure;
Executive Compensation;
Corporate Governance;
Consulting Industry;
Canada;
United States
Murphy, K. J., and Tatiana Sandino. "Executive Pay and 'Independent' Compensation Consultants." Journal of Accounting & Economics 49, no. 3 (April 2010): 247–262.
- August 2012 (Revised March 2013)
- Case
Preem (A)
By: Bo Becker, Annelena Lobb and Aldo Sesia
High yield bond fund Proventus Capital Partners (PCP) has invested in underwater bonds issued by Preem, a large oil refinery. As maturity approaches, in the midst of financial crisis, Preem appear unlikely to be able to refinance. Meanwhile, Prreem has a complicated...
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Keywords:
Insolvency and Bankruptcy;
Financial Liquidity;
Restructuring;
Courts and Trials;
Negotiation;
Bonds;
Mining Industry;
Energy Industry;
Europe
Becker, Bo, Annelena Lobb, and Aldo Sesia. "Preem (A)." Harvard Business School Case 213-008, August 2012. (Revised March 2013.)
- 2013
- Article
Learning and the Disappearing Association Between Governance and Returns
By: Lucian A. Bebchuk, Alma Cohen and Charles C.Y. Wang
The correlation between governance indices and abnormal returns documented for 1990–1999 subsequently disappeared. The correlation and its disappearance are both due to market participants' gradually learning to appreciate the difference between good-governance and...
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Keywords:
Corporate Governance;
Investment Return;
Operations;
Performance;
Value;
Learning;
Business Earnings;
Behavioral Finance
Bebchuk, Lucian A., Alma Cohen, and Charles C.Y. Wang. "Learning and the Disappearing Association Between Governance and Returns." Journal of Financial Economics 108, no. 2 (May 2013): 323–348. (2013 IRRCi Investor Research Award.)
- 2010
- Working Paper
Crashes and Collateralized Lending
By: Jakub W. Jurek and Erik Stafford
This paper develops a parsimonious static model for characterizing financing terms in collateralized lending markets. We characterize the systematic risk exposures for a variety of securities and develop a simple indifference-pricing framework to value the systematic...
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Keywords:
Financial Crisis;
Borrowing and Debt;
Cost of Capital;
Credit;
Financing and Loans;
Interest Rates;
Investment;
Framework;
Risk and Uncertainty;
Financial Services Industry
Jurek, Jakub W., and Erik Stafford. "Crashes and Collateralized Lending." Harvard Business School Working Paper, No. 11-025, September 2010.
- September 2009
- Article
Is There a Better Commitment Mechanism than Cross-Listings for Emerging Economy Firms? Evidence from Mexico
By: Jordan I. Siegel
The last decade of work in corporate governance has shown that weak legal institutions at the country level hinder firms in emerging economies from accessing finance and technology affordably. To attract outside resources, these firms must often use external...
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Keywords:
Commitment;
Inter-organizational Relationships;
Emerging Markets;
Economics;
International Political Economy;
Economy;
Business Ventures;
Information;
Mexico
Siegel, Jordan I. "Is There a Better Commitment Mechanism than Cross-Listings for Emerging Economy Firms? Evidence from Mexico." Journal of International Business Studies 40, no. 7 (September 2009): 1171–1191. (The last decade of work in corporate governance has shown that weak legal institutions at the country level hinder firms in emerging economies from accessing finance and technology affordably. To attract outside resources, these firms must often use external commitments for repayment. Research suggests that a common commitment mechanism is to borrow US securities laws, which involves listing the emerging economy firm's shares on a US exchange. This paper uses a quasi-natural experiment from Mexico to examine the conditions under which forming a strategic alliance with a foreign multinational firm is actually a superior mechanism for ensuring good corporate governance.)
- August 2006 (Revised August 2007)
- Case
Revenue Recognition Problems in the Communications Equipment Industry
By: Paul M. Healy and Arjuna J Costa
Designed to explore recognition issues in the context of a potential market downturn. In late 2000, Lucent Technologies reports multiple revisions to its recent financial results due to revenue recognition problems, leading to a dramatic decline in its stock price....
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Keywords:
Corporate Disclosure;
Revenue Recognition;
Policy;
Supply and Industry;
Performance;
Communications Industry
Healy, Paul M., and Arjuna J Costa. "Revenue Recognition Problems in the Communications Equipment Industry." Harvard Business School Case 107-025, August 2006. (Revised August 2007.)
- February 2001 (Revised November 2009)
- Case
Amazon.com (C)
At the end of 1998, Amazon.com founder and CEO Jeff Bezos ponders the next moves for his company. Having secured the leadership position as the leading online book seller in the United States, Amazon.com has now moved into the product categories of CDs and videos by...
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Keywords:
Expansion;
Internet and the Web;
Business Growth and Maturation;
Books;
Growth and Development Strategy;
Retail Industry;
Germany;
United Kingdom;
United States
Rayport, Jeffrey F., and Dickson Louie. "Amazon.com (C)." Harvard Business School Case 901-021, February 2001. (Revised November 2009.)
- May 1996
- Case
First Capital Holdings Corp.
By: Stuart C. Gilson, Harry DeAngelo and Linda DeAngelo
The manager of a money-management firm considers whether to invest in the securities of a large, financially troubled, California-based life insurance holding company that holds 40% of its assets in high-yield junk bonds. Over the past year, the value of its portfolio...
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Keywords:
Risk Management;
Debt Securities;
Bonds;
Valuation;
Investment Return;
Fair Value Accounting;
Financial Institutions;
Insurance Industry
Gilson, Stuart C., Harry DeAngelo, and Linda DeAngelo. "First Capital Holdings Corp." Harvard Business School Case 296-032, May 1996.
- 01 Mar 2010
- Op-Ed
A Golden Opportunity for Ford and GM
to move aggressively to secure their market share gains by investing windfall profits to make their auto lineups more competitive for the next decade. That means introducing new designs that offer attractive features, improved fuel...
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- Web
Admissions & Financial Support - Doctoral
program offers a comprehensive range of support, designed to provide you with financial security as you pursue your research endeavors. Explore HBS’ commitment to PhD students 100 % Fully-funded for 5 years Research Community Anil Doshi...
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- August 2015 (Revised October 2017)
- Case
Turnaround at Norsk Gjenvinning (A)
By: George Serafeim
Erik Osmundsen, CEO of Norsk Gjenvinning (NG), had initiated a program to strenghten corporate governance, eliminate corruption and improve compliance, and as a result the company had experienced a turnover of almost half of its top 70 line managers and strained...
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Keywords:
Change Leadership;
Governance;
Compliance;
Waste Management;
Environmental Impact;
Social Responsibility;
Industry Regulation;
Regulatory Enforcement;
Turnaround;
Turn Around Management;
Corruption;
Leading Change;
Change Management;
Crime and Corruption;
Governance Compliance;
Wastes and Waste Processing;
Industrial Products Industry;
Norway;
Scandinavia;
Europe
Serafeim, George, and Shannon Gombos. "Turnaround at Norsk Gjenvinning (A)." Harvard Business School Case 116-012, August 2015. (Revised October 2017.)
- October 1999 (Revised January 2000)
- Case
W. R. Hambrecht & Co: OpenIPO
By: Andre F. Perold and Gunjan D. Bhow
OpenIPO is a new mechanism for pricing and distributing initial public offerings. The system, which is based on a Dutch auction, represents an attempt by the investment bank W.R. Hambrecht + Co. to change the manner in which IPOs are underwritten. The case provides a...
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Keywords:
Investment Banking;
Debt Securities;
Stocks;
Initial Public Offering;
Price;
Information;
Auctions;
Agreements and Arrangements;
Distribution;
Internet;
Netherlands
Perold, Andre F., and Gunjan D. Bhow. "W. R. Hambrecht & Co: OpenIPO." Harvard Business School Case 200-019, October 1999. (Revised January 2000.)
- Research Summary
Book in progress
Expanding on my work on BP, I am starting a new book on the transformation of the major international oil companies since the 1970s. Prior to that, the oil majors largely controlled the international flow of oil, which was channelled through their vertically... View Details
- April 1996 (Revised January 2006)
- Case
Times Mirror Company PEPS Proposal Review
By: Peter Tufano
Times Mirror Co. (TMC) owns a substantial block of Netscape common stock purchased prior to Netscape's IPO, on which it has substantial unrealized gains. TMC is restricted from selling the stock in a public offering and is therefore considering a proposal by Morgan...
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Keywords:
Risk Management;
Stocks;
Taxation;
Corporate Finance;
Telecommunications Industry;
Media and Broadcasting Industry;
United States
Tufano, Peter, and Cameron Poetzscher. "Times Mirror Company PEPS Proposal Review." Harvard Business School Case 296-089, April 1996. (Revised January 2006.)
- March 2015
- Case
The Sino-Russian Rapprochement: Energy Relations in a New Era
By: Rawi Abdelal, Morena Skalamera and Sogomon Tarontsi
The United States could enhance or threaten China's energy security but China was unsure of the U.S. intentions. China and the United States were both friends and potential foes. In the meantime, Russia's own ambivalent relationship with the United States and its...
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Keywords:
International Relations;
Energy;
Trade;
Conflict and Resolution;
Business and Government Relations;
Energy Industry;
China;
United States;
Russia
Abdelal, Rawi, Morena Skalamera, and Sogomon Tarontsi. "The Sino-Russian Rapprochement: Energy Relations in a New Era." Harvard Business School Case 715-016, March 2015.
- April 2014
- Teaching Plan
Beidahuang
By: Ray A. Goldberg and David Lane
This teaching plan is designed to support the teaching of Beidahuang, HBS No. 914-412, rev. March 2014. Beidahuang is a major new Chinese player in global grain trading that in 2013 is seeking access to grain both to help assure China's food security and in pursuit of...
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Keywords:
Agribusiness;
Sourcing;
Beidahuang;
S;
Plant-Based Agribusiness;
Supply Chain Management;
Trade;
Agriculture and Agribusiness Industry;
Brazil;
China
Goldberg, Ray A., and David Lane. "Beidahuang." Harvard Business School Teaching Plan 914-415, April 2014.
- 2015
- Mimeo
Market Power in Mortgage Lending and the Transmission of Monetary Policy
By: David S. Scharfstein and Adi Sunderam
We present evidence that high concentration in mortgage lending reduces the sensitivity of mortgage rates and refinancing activity to mortgage-backed security (MBS) yields. We isolate the direct effect of concentration and rule out alternative explanations in two ways....
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Keywords:
Mortgage Lending;
Market Power;
Monetary Policy Transmission;
Mortgages;
Banking Industry;
United States
Scharfstein, David S., and Adi Sunderam. "Market Power in Mortgage Lending and the Transmission of Monetary Policy." April 2015. Mimeo.
- February 2010 (Revised June 2014)
- Supplement
CityCenter (C): Turmoil and Choices
By: John D. Macomber
"CityCenter (C)" follows the (A) and (B) cases chronologically. The (C) case explores the decisions facing MGM MIRAGE following a lawsuit by partner Dubai World and suspension of Dubai World's cash contributions to the project in early 2009. Issues include the...
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Keywords:
Lawsuits and Litigation;
Private Equity;
Games, Gaming, and Gambling;
Decisions;
Partners and Partnerships;
Conflict and Resolution;
Entertainment and Recreation Industry;
Nevada
Macomber, John D. "CityCenter (C): Turmoil and Choices." Harvard Business School Supplement 210-066, February 2010. (Revised June 2014.)
- October 2008
- Case
TripIt: The Traveler's Agent
By: Lynda M. Applegate, Gabriele Piccoli and Kathryn Brohman
In July 2008, the co-founders of TripIt, a free online travel organizer that aggregated travelers' bookings from many top travel websites, had recently secured $5.1 million in new financing. While the co-founders believed that their company offered travelers a unique...
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Keywords:
Entrepreneurship;
Investment;
Profit;
Revenue;
Growth and Development Strategy;
Competition;
Internet;
Travel Industry
Applegate, Lynda M., Gabriele Piccoli, and Kathryn Brohman. "TripIt: The Traveler's Agent." Harvard Business School Case 809-059, October 2008.