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  • 26 Feb 2008
  • First Look

First Look: February 26, 2008

order to smooth earnings (Graham, Harvey and Rajgopal, 2005). We estimate that marketing actions can be used to boost quarterly net income by up to 20% depending on the depth of promotion. But there is a price to pay, with the cost in the... View Details
Keywords: Martha Lagace
  • 03 Mar 2008
  • First Look

First Look: March 4, 2008

avoidance activities advance shareholder interests? This paper tests alternative theories of corporate tax avoidance that yield distinct predictions on the valuation of corporate tax avoidance. Unexplained... View Details
Keywords: Martha Lagace
  • 22 Apr 2015
  • Op-Ed

Reforming Greece: Myths and Truths

procedures to start a business declining from 15 to 5. Equally good news was that the average time to prepare and pay taxes declined from 264 to 193 hours over the same period. The Failures This is all good... View Details
Keywords: by George Serafeim
  • 04 Aug 2014
  • Op-Ed

Why Small-Business Lending Is Not Recovering

sheets, use sparse tax returns, and keep inadequate income statements. Community banks have traditionally placed greater emphasis on relationships with borrowers in their underwriting processes, but these... View Details
Keywords: by Karen Mills; Banking; Financial Services
  • 15 Dec 2009
  • First Look

First Look: Dec. 15, 2009

explain eight lessons from optimal tax theory and compare them to the last few decades of OECD tax policy. As recommended by theory, top marginal View Details
Keywords: Martha Lagace
  • 16 Aug 2016
  • First Look

August 16, 2016

would recommend. Related, a similar share prefer a classical benefit-based logic for the assignment of taxes over the conventional logic of diminishing marginal social welfare. Moreover, these two views are... View Details
Keywords: Sean Silverthorne
  • 07 Jun 2016
  • First Look

June 7, 2016

discontinuity design that facilitates sharper identification of treatment effects, we find a significant and discontinuous increase in tax avoidance following Russell 2000 inclusion. The tax avoidance... View Details
Keywords: Sean Silverthorne
  • 17 May 2011
  • First Look

First Look: May 17

income taxation. I show analytically how age dependence improves policy on both the intratemporal and intertemporal margins. I use detailed numerical simulations, calibrated with data from the U.S. PSID, to generate robust policy... View Details
Keywords: Sean Silverthorne
  • 23 Aug 2004
  • Research & Ideas

New Challenges for Long-Term Investors

money instrument matures, and there is no [guarantee] that rates will stay the same over time. That is, short-dated fixed income instruments are subject to "reinvestment risk" (or, "interest... View Details
Keywords: by Ann Cullen
  • 15 May 2012
  • First Look

First Look: May 15

tax rates at high incomes are lower than in standard analysis and closer to those observed in policy. Download the paper: http://www.hbs.edu/research/pdf/12-064.pdf   Cases... View Details
Keywords: Carmen Nobel
  • 18 Mar 2008
  • First Look

First Look: March 18, 2008

how these Americans spend their income tax refunds, using transaction-level data from a stored-value card product. Card-holders may choose among several tax settlement and loan... View Details
Keywords: Martha Lagace
  • 21 Apr 2009
  • First Look

First Look: April 21, 2009

  Working PapersHow Firms Respond to Being Rated (revised) Authors:Aaron K. Chatterji and Michael W. Toffel Abstract While many rating systems seek to help buyers overcome information asymmetries when making... View Details
Keywords: Martha Lagace
  • Web

From the Chief Financial Officer | Annual Report 2024

million. Yet over this same period, the School’s total revenues have increased at a compound annual rate of 3.5 percent, while total operating expenses have grown at a compound annual rate of 5.3 percent.... View Details
  • 26 Jan 2016
  • First Look

January 26, 2016

rate of 37% is fairly close to the model's estimated welfare-maximizing taxation rate of 42%. Reducing corruption provides the largest potential impact for welfare gain through its impact on the uses of... View Details
Keywords: Sean Silverthorne
  • 02 Feb 2016
  • First Look

February 2, 2016

decompose the productivity decrease that arises from taxation, we estimate that 40% is due to the lower net wage and the remaining 60% to tax aversion. This tax aversion affects labor supply more on the... View Details
Keywords: Sean Silverthorne
  • 15 Jan 2013
  • First Look

First Look: January 15

than country characteristics in explaining governance ratings variance. Our findings show that firms in emerging economies over recent years had more capability to rise above home-country peer firms in corporate governance View Details
Keywords: Sean Silverthorne
  • Web

HBS - Financials | From the Chief Financial Officer

increased for the ninth consecutive year in fiscal 2023, approaching 42,000 participants. In recent years, however, the growth rate has decreased and the revenue mix has shifted. Consequently, revenues decreased 3 percent from the prior... View Details
  • 02 Feb 2010
  • First Look

First Look: Feb. 2

employers, ISO adopters had higher growth rates for sales, employment, payroll, and average annual earnings. Injury rates declined slightly for ISO 9001 adopters, although... View Details
Keywords: Martha Lagace
  • 22 May 2007
  • First Look

First Look: May 22, 2007

other distortions measured in the literature. The second uncertain policy we consider concerns marginal tax rates. We obtain similar results once we adjust for the impact of View Details
Keywords: Martha Lagace
  • 21 Nov 2017
  • First Look

First Look at New Research and Ideas, November 21, 2017

reviews from Yelp.com, we construct an adjusted average rating and show that even a simple algorithm can lead to large information efficiency gains relative to the arithmetic average. Publisher's link:... View Details
Keywords: Sean Silverthorne