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  • 21 Oct 2014
  • First Look

First Look: October 21

Economics Payout Policy By: Farre-Mensa, Joan, Roni Michaely, and Martin C. Schmalz Abstract—We survey the literature on payout policy, with a particular emphasis on developments in the last two decades. Of... View Details
Keywords: Sean Silverthorne
  • 12 PM – 1 PM EST, 15 Nov 2016
  • Webinars: Career

Joining the Right Startup

Startups are like infants: brand new, exciting, bursting with hope and potential. Unfortunately, if you're thinking about joining a startup, that excitement doesn't help much. It often confuses the issues about which deals could succeed and which could fail or, more... View Details
  • 01 Jun 2018
  • News

How Does the HBS Endowment Work?

the payout rate—typically around 5 percent of the endowment’s prior year-end market value —that can be withdrawn and used to support activities in accordance with the donor’s intentions and the terms of each gift. A large majority of... View Details
  • 25 Apr 2016
  • News

Just Rewards

increasing executive remuneration. “It seemed the payouts at the top were massive and they weren’t warranted,” he says. “Meanwhile, 95 percent of the workforce was getting an annual salary increase of inflation plus one percent.” When he... View Details
  • 15 Mar 2011
  • First Look

First Look: March 15

the natural environment while creating urban living capacity by combining low carbon and resource-efficient development with the use of information and communication technologies (ICT) to better manage complex urban systems. Download the paper:... View Details
Keywords: Sean Silverthorne
  • 18 Aug 2009
  • First Look

First Look: August 18

one mechanism for capturing the performance benefits of diversity in experience and provide insight into how the management of experience accumulation affects team performance. Download the paper: http://www.hbs.edu/research/pdf/09-145.pdf   PublicationsInstitutional... View Details
Keywords: Martha Lagace
  • 12 Oct 2011
  • First Look

First Look: October 12

decisions. We review relevant psychology, economic theory and predictions, empirical challenges, empirical evidence, new directions such as behavioral signaling, and open questions. Download the paper: http://papers.nber.org/papers/w17333 View Details
Keywords: Sean Silverthorne
  • 07 Dec 2010
  • First Look

First Look: Dec. 7

implemented in the SEC's August 2010 rule. Download the paper: http://www.hbs.edu/research/pdf/11-052.pdf Payout Taxes and the Allocation of Investment Authors:Bo Becker, Marcus Jacob, and Martin Jacob Abstract When corporate View Details
Keywords: Sean Silverthorne
  • 07 Aug 2007
  • First Look

First Look: August 7, 2007

complete abandonment of the current system. Download the paper: http://papers.nber.org/papers/W13213 Institutional Tax Clienteles and Payout Policy Authors:Mihir A. Desai and Li Jin Abstract This paper employs heterogeneity in... View Details
Keywords: Martha Lagace
  • 31 Jul 2012
  • First Look

First Look: July 31

development. Payout Taxes and the Allocation of Investment Authors:Bo Becker, Marcus Jacob, and Martin Jacob Publication:Journal of Financial Economics (forthcoming) Abstract When corporate payout is taxed,... View Details
Keywords: Carmen Nobel
  • Web

Supplemental Financial Information | Annual Report 2024

across generations. In any given year, Harvard fulfills this responsibility in setting the annual endowment payout rate. The payout rate is the percentage of the endowment’s fair market value that is... View Details
  • 26 Oct 2010
  • First Look

First Look: October 26, 2010

support for ultimate target agreements. Download the paper: http://www.people.hbs.edu/jsebenius/articles_scans/10_NegCampaignsNN.pdf   Working PapersPayout Taxes and the Allocation of Investment Authors:Bo Becker, Marcus Jacob, and Martin Jacob Abstract When corporate... View Details
Keywords: Sean Silverthorne
  • 22 Apr 2014
  • First Look

First Look: April 22

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1719204 Payout Policy By: Farre-Mensa, Joan, Roni Michaely, and Martin C. Schmalz Abstract—We survey the literature on payout policy, with a particular... View Details
Keywords: Sean Silverthorne
  • 17 Apr 2012
  • First Look

First Look: April 17

responsibility for securing these materials.   Working PapersPayout Taxes and the Allocation of Investment Authors:Bo Becker, Marcus Jacob, and Martin Jacob Abstract When corporate payout is taxed, internal equity (retained earnings) is... View Details
Keywords: Carmen Nobel
  • 21 Feb 2017
  • First Look

First Look at New Research: February 21

shareholders more than $3.95 trillion via stock buybacks and $2.45 trillion via dividends—$6.4 trillion in total. These shareholder payouts amounted to over 93% of the firms' net income. Academics, corporate lawyers, asset managers, and... View Details
Keywords: Carmen Nobel
  • Web

Strategies for Value Creation (SVC) - Course Catalog

includes several “Policy Days” which analyze current policy debates in corporate America such as payout policy (share repurchases), CEO pay, and activist investors. The policy days typically follow related cases and use readings from... View Details
  • 04 Oct 2007
  • What Do You Think?

Has Managerial Capitalism Peaked?

transfer of wealth from public investors to the hands of business leaders, corporate insiders, and financial intermediaries." Headlines remind us of very large payouts to CEOs, regardless of their performance. (In fact, it could be... View Details
Keywords: by Jim Heskett
  • 03 Jan 2017
  • First Look

January 3, 2017

and suburban areas. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=52059 Financing Payouts By: Farre-Mensa, Joan, Roni Michaely, and Martin Schmalz Abstract—We study the extent to which firms rely on the capital... View Details
Keywords: Carmen Nobel
  • 30 Aug 2006
  • Op-Ed

The Compensation Game

payments or deferred-compensation arrangements that serve to obscure total pay. And when clubs get rid of poorly-performing players, they do not generally provide them with the equivalent of a golden parachute—a payout that is common... View Details
Keywords: by Lucian Bebchuk & Rakesh Khurana
  • 30 Sep 2014
  • First Look

First Look: September 30

the puzzle of low adoption, we show that payouts improve trust in the product and that farmers shield payouts from claims by relatives. Download working paper:... View Details
Keywords: Sean Silverthorne