Filter Results:
(15,052)
Show Results For
- All HBS Web
(15,052)
- People (43)
- News (3,322)
- Research (9,161)
- Events (53)
- Multimedia (221)
- Faculty Publications (7,323)
Show Results For
- All HBS Web
(15,052)
- People (43)
- News (3,322)
- Research (9,161)
- Events (53)
- Multimedia (221)
- Faculty Publications (7,323)
- Article
Consequences of Financial Reporting Failure for Outside Directors: Evidence from Accounting Restatements and Audit Committee Members
By: Suraj Srinivasan
I use a sample of 409 companies that restated their earnings from 1997 to 2001 to examine penalties for outside directors, particularly audit committee members, when their companies experience accounting restatements. Penalties from lawsuits and Securities and Exchange... View Details
Keywords: Outcome or Result; Business Earnings; Financial Statements; Lawsuits and Litigation; Labor; Markets; Financial Reporting; Accounting Audits; Cost; Reputation
Srinivasan, Suraj. "Consequences of Financial Reporting Failure for Outside Directors: Evidence from Accounting Restatements and Audit Committee Members." Journal of Accounting Research 43, no. 2 (May 2005): 291–334.
- September 2016
- Case
Financial Services at Falabella (A)
By: C. Fritz Foley and Agustin M. Hurtado
In 2010, the board and senior management team of Falabella, a leading retailer with operations throughout Latin America, faced choices about what to do with its financial services division. More than 4.5 million customers had CMR credit cards that could be used in... View Details
Keywords: Consumer Credit; Financial Institutions; Personal Finance; Financial Management; Financial Strategy; Corporate Strategy; Banking Industry; Retail Industry; Latin America; Chile; Argentina; Colombia; Peru
Foley, C. Fritz, and Agustin M. Hurtado. "Financial Services at Falabella (A)." Harvard Business School Case 217-016, September 2016.
- 2017
- Working Paper
Does Financial Misconduct Affect the Future Compensation of Alumni Managers?
By: Boris Groysberg, Eric Lin and Georgios Serafeim
We explore how an organization’s financial misconduct may affect pay for former employees not implicated in wrongdoing. Drawing on stigma theory we hypothesize that although such alumni did not participate in the financial misconduct and they had left the organization... View Details
Keywords: Corporate Misconduct; Restatements; Stigma; Financial Misconduct; Compensation and Benefits; Crime and Corruption; Employees
Groysberg, Boris, Eric Lin, and Georgios Serafeim. "Does Financial Misconduct Affect the Future Compensation of Alumni Managers?" Working Paper, November 2017.
- October 1998 (Revised May 1999)
- Case
Commercial Financial Services, Inc.: Securitization of Charged-off Credit Card Receivables
By: Kenneth A. Froot and Ivan G. Farman
Commercial Financial Services (CFS) is a company that buys charged-off credit card receivables, securitizes them, and then attempts to collect on the receivables. The case deals with how the firm makes money and the limits of securitization as an efficient financing... View Details
Keywords: Financing; Asset-back Finance; Financial Policy; Securitization; Credit; Financial Strategy; Business Strategy; Policy; Financial Services Industry
Froot, Kenneth A., and Ivan G. Farman. "Commercial Financial Services, Inc.: Securitization of Charged-off Credit Card Receivables." Harvard Business School Case 299-023, October 1998. (Revised May 1999.)
- January–February 2021
- Article
Cross‐firm Return Predictability and Accounting Quality
By: Wen Chen, Mozaffar Khan, Leonid Kogan and George Serafeim
We test the hypothesis that if poor accounting quality (AQ) is associated with poor investor understanding of firms’ revenue and cost structures, then poor AQ stocks likely respond more slowly than good AQ stocks to new non‐idiosyncratic information that affects both... View Details
Keywords: Accounting Quality; Earnings Quality; Stock Returns; Investment Strategy; Accounting; Business Earnings; Quality; Investment Return; Investment; Strategy
Chen, Wen, Mozaffar Khan, Leonid Kogan, and George Serafeim. "Cross‐firm Return Predictability and Accounting Quality." Journal of Business Finance & Accounting 48, nos. 1-2 (January–February 2021): 70–101.
- November 2009
- Article
Is it Fair to Blame Fair Value Accounting for the Financial Crisis?
By: Robert C. Pozen
When the credit markets seized up in 2008, many heaped blame on "mark to market" accounting rules, which require banks to write down their troubled assets to the prices they'd fetch if sold on the open market - at the time, next to nothing. Recording those assets below... View Details
Keywords: Cost Accounting; Fair Value Accounting; Financial Crisis; Assets; Governing Rules, Regulations, and Reforms; Crisis Management; Standards; Banking Industry
Pozen, Robert C. "Is it Fair to Blame Fair Value Accounting for the Financial Crisis?" Harvard Business Review 87, no. 11 (November 2009).
- September 2011
- Article
Political Instability: Effects on Financial Development, Roots in the Severity of Economic Inequality
By: Mark J. Roe and Jordan I. Siegel
We here bring forward strong evidence that political instability impedes financial development, with its variation a primary determinant of differences in financial development around the world. As such, it needs to be added to the short list of major determinants of... View Details
Keywords: Financial Development; Political Instability; Government and Politics; Finance; Growth and Development; Economics; Equality and Inequality
Roe, Mark J., and Jordan I. Siegel. "Political Instability: Effects on Financial Development, Roots in the Severity of Economic Inequality." Journal of Comparative Economics 39, no. 3 (September 2011): 279–309. (We here bring forward strong evidence that political instability impedes financial development, with its variation a primary determinant of differences in financial development around the world. As such, it needs to be added to the short list of major determinants of financial development. First, structural conditions first postulated by
Engerman and Sokoloff (2002) as generating long-term inequality are shown here empirically to be exogenous determinants of political instability. Second, that exogenously-determined political instability in turn holds back financial development, even when we control for factors prominent in the last decade's cross-country studies of
financial development. The findings indicate that inequality-perpetuating conditions that result in political instability are fundamental roadblocks for international organizations like the World Bank that seek to promote financial development. The evidence here includes country fixed effect regressions and an instrumental model inspired by Engerman and Sokoloff's (2002) work, which to our knowledge has not yet been used in finance and which is consistent with current tests as valid instruments. Four conventional measures of national political instability — Alesina and Perotti's (1996) well-known index of instability, a subsequent index derived from Banks' (2005) work,
and two indices of managerial perceptions of nation-by-nation political instability — persistently predict a wide range of national financial development outcomes for recent decades. Political instability's significance is time consistent in cross-sectional regressions back to the 1960's, the period when the key data becomes available, robust
in both country fixed-effects and instrumental variable regressions, and consistent across multiple measures of instability and of financial development. Overall, the results indicate the existence of an important channel running from structural inequality to political instability, principally in nondemocratic settings, and then to financial
backwardness. The robust significance of that channel extends existing work demonstrating the importance of political economy explanations for financial development and financial backwardness. It should help to better understand which policies will work for financial development, because political instability has causes, cures, and effects quite distinct from those of many of the key institutions most studied in the past decade as explaining financial backwardness.)
- 31 Oct 2013
- Working Paper Summaries
Do Measures of Financial Constraints Measure Financial Constraints?
- February 2019
- Article
The Market for Financial Adviser Misconduct
By: Mark Egan, Gregor Matvos and Amit Seru
We construct a novel database containing the universe of financial advisers in the United States from 2005 to 2015, representing approximately 10% of employment of the finance and insurance sector. We provide the first large-scale study that documents the economy-wide... View Details
Keywords: Financial Advisors; Brokers; Consumer Finance; Financial Misconduct And Fraud; FINRA; Financial Institutions; Crime and Corruption; Organizational Culture; Personal Finance; Financial Services Industry
Egan, Mark, Gregor Matvos, and Amit Seru. "The Market for Financial Adviser Misconduct." Journal of Political Economy 127, no. 1 (February 2019): 233–295.
- 2010
- Chapter
The Many Faces of Nonprofit Accountability
By: Alnoor Ebrahim
Calls for greater accountability are not new. Leaders of organizations, be they nonprofit, business, or government, face a constant stream of demands from various constituents demanding accountable behavior. But what does it mean to be accountable? By and large,... View Details
Keywords: Crime and Corruption; Corporate Accountability; Governing Rules, Regulations, and Reforms; Taxation; Leadership; Management; Nonprofit Organizations; Behavior; Trust
Ebrahim, Alnoor. "The Many Faces of Nonprofit Accountability." Chap. 4 in The Jossey-Bass Handbook of Nonprofit Leadership and Management. 3rd ed. Edited by David O. Renz, 110–121. San Francisco: Jossey-Bass, 2010.
- 1985
- Chapter
Accounting Lag: The Obsolescence of Cost Accounting Systems
By: Robert S. Kaplan
Keywords: Cost Accounting
- February 2005 (Revised December 2012)
- Background Note
Assessing Accounting Risk
By: David F. Hawkins
Describes a framework that financial analysts can use to assess the likelihood of accounting misstatements in financial statements. View Details
Hawkins, David F. "Assessing Accounting Risk." Harvard Business School Background Note 105-054, February 2005. (Revised December 2012.)
- 2010
- Working Paper
The Many Faces of Nonprofit Accountability
By: Alnoor Ebrahim
What does it mean for a nonprofit organization to be accountable? Nonprofit leaders tend to pay attention to accountability once a problem of trust arises—a scandal in the sector or in their own organization, questions from citizens or donors who want to know if their... View Details
Keywords: Corporate Accountability; Corporate Disclosure; Governing Rules, Regulations, and Reforms; Leadership; Mission and Purpose; Performance Evaluation; Nonprofit Organizations; Business Strategy
Ebrahim, Alnoor. "The Many Faces of Nonprofit Accountability." Harvard Business School Working Paper, No. 10-069, February 2010.
- September 2022
- Article
The Impact of Financial Assistance Programs on Health Care Utilization: Evidence from Kaiser Permanente
By: Alyce S. Adams, Raymond Kluender, Neale Mahoney, Jinglin Wang, Francis Wong and Wesley Yin
Most hospitals have financial assistance programs for low-income patients. We use administrative data from Kaiser Permanente to study the effects of financial assistance on health care utilization. Using a regression discontinuity design based on an income threshold... View Details
Keywords: Healthcare; Utilization; Financial Assistance; Health Care and Treatment; Social Issues; Poverty; Health Industry
Adams, Alyce S., Raymond Kluender, Neale Mahoney, Jinglin Wang, Francis Wong, and Wesley Yin. "The Impact of Financial Assistance Programs on Health Care Utilization: Evidence from Kaiser Permanente." American Economic Review: Insights 4, no. 3 (September 2022): 389–407.
- Research Summary
Do Measures of Financial Constraints Measure Financial Constraints?
Financial constraints are fundamental to empirical research in finance and economics. In joint work with Alexander Ljunqvist, we propose two novel tests to evaluate how well measures of financial constraints actually capture constraints. We find that firms... View Details
- 2021
- Working Paper
Accounting for Workforce Impact at Scale
By: Adel Fadhel, Katie Panella, Ethan Rouen and George Serafeim
Using new data on workforce composition and wages, we systematically measure the employment impact at U.S. firms from 2008 to 2020, including 2,682 unique firms and 22,322 firm-year observations. We document significant variation across industries and firms within each... View Details
Keywords: Impact Accounting; ESG; Employee Turnover; Wages; Employment; Measurement and Metrics; Human Capital; Diversity; United States
Fadhel, Adel, Katie Panella, Ethan Rouen, and George Serafeim. "Accounting for Employment Impact at Scale." Harvard Business School Working Paper, No. 22-018, December 2021.
- August 1983
- Background Note
Balance of Payments: Accounting and Presentation
By: David B. Yoffie
Provides an overview of balance of payments accounting and analytical presentation of balance of payments data. Includes sample transactions to illustrate the application of the basic accounting principles and definitions of the standard balances. View Details
Yoffie, David B. "Balance of Payments: Accounting and Presentation." Harvard Business School Background Note 384-005, August 1983.
- September 2013
- Teaching Note
The Case of the Unidentified Industries—2013
By: Mihir A. Desai, William E. Fruhan, Jr. and Elizabeth A. Meyer
Helps students to understand how the characteristics of a business are reflected in its financial statements. This case consists of an exercise in which students are given balance sheet data in percentage form and other selected financial data for companies in 14... View Details
- September 1979 (Revised July 1993)
- Background Note
Liberal Art of Accounting
By: William J. Bruns Jr. and Julie H. Hertenstein
Keywords: Accounting
Bruns, William J., Jr., and Julie H. Hertenstein. "Liberal Art of Accounting." Harvard Business School Background Note 180-024, September 1979. (Revised July 1993.)
- January 1999
- Article
International Accounting Standards: New Interim Financial Reporting Standard Now Effective
By: David F. Hawkins
Hawkins, David F. "International Accounting Standards: New Interim Financial Reporting Standard Now Effective." Accounting Bulletin, no. 74 (January 1999).