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Show Results For
- All HBS Web
(3,163)
- People (5)
- News (697)
- Research (2,057)
- Events (8)
- Multimedia (14)
- Faculty Publications (907)
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- 2009
- Working Paper
Stock Price Fragility
By: Robin Greenwood and David Thesmar
We investigate the relationship between ownership structure of financial assets and non-fundamental risk. An asset is fragile if its owners collectively have to buy or sell. Such assets are susceptible to non-fundamental price movements. An asset can be fragile because... View Details
Keywords: Financial Liquidity; Stocks; Price; Market Transactions; Ownership; Risk and Uncertainty; United States
Greenwood, Robin, and David Thesmar. "Stock Price Fragility." Harvard Business School Working Paper, No. 10-031, October 2009.
- 21 Jun 2013 - 22 Jun 2013
- Conference Presentation
Stock Market Prediction via Social Media: The Importance of Competitors
By: Frank Nagle
Nagle, Frank. "Stock Market Prediction via Social Media: The Importance of Competitors." Paper presented at the 11th ZEW Conference on the Economics of Information and Communication Technologies, Center for European Economic Research (ZEW), Mannheim, Germany, June 21–22, 2013.
- 2001
- Working Paper
When Does the Market Matter? Stock Prices and the Investment of Equity Dependent Firms
By: Malcolm Baker, Jeremy Stein and Jeffrey Wurgler
We use a simple model of corporate investment to determine when investment will be sensitive to non-fundamental movements in stock prices. The key cross-sectional prediction of the model is that stock prices will have a stronger impact on the investment of firms that... View Details
Baker, Malcolm, Jeremy Stein, and Jeffrey Wurgler. "When Does the Market Matter? Stock Prices and the Investment of Equity Dependent Firms." NBER Working Paper Series, No. 8750, December 2001. (First draft in 2001.)
- December 1998 (Revised March 2001)
- Case
Korea Stock Exchange, 1998
By: Tarun Khanna, Krishna G. Palepu and James Chang
Following a major financial crisis, the South Korean government attempted to revive the Korea Stock Exchange to spur equity investment in Korean companies. This case describes the reforms undertaken so far and the challenges that lay ahead. View Details
Keywords: Equity; Stocks; Restructuring; Emerging Markets; Corporate Governance; Business and Government Relations; Accounting Industry; Financial Services Industry; South Korea
Khanna, Tarun, Krishna G. Palepu, and James Chang. "Korea Stock Exchange, 1998." Harvard Business School Case 199-033, December 1998. (Revised March 2001.)
- 20 Mar 2007
- Research & Ideas
What’s Behind China’s Wild Stock Ride?
Podcast with: Li Jin Interviewer: James Aisner Running Time: 18 min., 55 sec. View Details
Keywords: Financial Services
- July 2001 (Revised March 2002)
- Case
Nasdaq Stock Market, Inc., The
By: Andre F. Perold and Austin K Scee
NASDAQ's mission "to facilitate capital formation" is threatened by the emergence of Electronic Communication Networks, which are not as heavily regulated by the SEC. This case reviews the development of NASDAQ and its evolution from a loose network of broker-dealers... View Details
Keywords: Capital Markets; Stocks; Financial Markets; Governing Rules, Regulations, and Reforms; Innovation Strategy; Performance Efficiency; Perspective
Perold, Andre F., and Austin K Scee. "Nasdaq Stock Market, Inc., The." Harvard Business School Case 202-008, July 2001. (Revised March 2002.)
- 1984
- Working Paper
Earnings Variability and Variance Bounds Tests for Rationality of Stock Market Prices
By: Robert C. Merton and Terry A. Marsh
- January 2002
- Background Note
The Major Global Stock Exchanges
By: Ashish Nanda, Thomas J. DeLong and Lynn Villadolid Roy
Describes the major global stock exchanges. View Details
Nanda, Ashish, Thomas J. DeLong, and Lynn Villadolid Roy. "The Major Global Stock Exchanges." Harvard Business School Background Note 902-169, January 2002.
- 1983
- Working Paper
Aggregate Dividend Behavior and Its Implications for Tests of Stock Market Rationality
By: Terry A. Marsh and Robert C. Merton
- September 1992
- Article
Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation
By: Kenneth Froot, David S. Scharfstein and Jeremy Stein
Froot, Kenneth, David S. Scharfstein, and Jeremy Stein. "Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation." Journal of Finance 47, no. 4 (September 1992): 1461–1484. (Revised from NBER Working Paper No. 3250, February 1990.)
- 15 Aug 2012
- Working Paper Summaries
Legislating Stock Prices
- 2000
- Other Unpublished Work
Do Executive Stock Options Encourage Risk-Taking?
Executive stock options create incentives for executives to manage firms in ways that maximize firm market value. Since options increase in value with the volatility of the underlying stock, executive stock options provide managers with incentives to take actions that... View Details
Cohen, Randolph B., Brian J. Hall, and Luis M. Viceira. "Do Executive Stock Options Encourage Risk-Taking?" 2000.
- March 2009
- Article
Trading Restrictions and Stock Prices
By: Robin Greenwood
Firms can manipulate their stock price by limiting the ability of their investors to sell. I examine a series of corporate events in Japan in which firms actively reduced their float—the fraction of shares available to trade—for periods of one to three months, locking... View Details
Greenwood, Robin. "Trading Restrictions and Stock Prices." Review of Financial Studies 22, no. 3 (March 2009): 509–539.
- Article
Stock Market Mean Reversion and the Optimal Equity Allocation of a Long-Lived Investor
By: Luis M. Viceira, John Y. Campbell, Francisco Gomes and Pascal J. Maenhout
Viceira, Luis M., John Y. Campbell, Francisco Gomes, and Pascal J. Maenhout. "Stock Market Mean Reversion and the Optimal Equity Allocation of a Long-Lived Investor." European Finance Review 5, no. 3 (2001).
- 29 Apr 2015
- Lessons from the Classroom
Use Personal Experience to Pick Winning Stocks
Let's face it: in most cases, the stock market knows what it's doing. With millions of people performing their homework and investing money in stocks they hope will pay off,... View Details
- 2005
- Working Paper
Aggregate Corporate Liquidity and Stock Returns
By: Robin Greenwood
Aggregate investment in cash and liquid assets as a share of total corporate investment is negatively related to subsequent U.S. stock market returns between 1947 and 2003. The share of cash in total investment is a more stable predictor of returns than scaled price... View Details
- March 2007
- Article
Gender Effects and Stock Market Reactions to the Announcement of Top Executive Appointments
This study uses Kanter's token status theory to link announcements of top executives to shareholder reactions, highlighting possible gender effects. Using a sample of top executive announcements from 1990 to 2000, our results show that investor reactions to the... View Details
- June 1986
- Article
Dividend Variability and Variance Bounds Tests for the Rationality of Stock Market Prices
By: Robert C. Merton and Terry A. Marsh
Merton, Robert C., and Terry A. Marsh. "Dividend Variability and Variance Bounds Tests for the Rationality of Stock Market Prices." American Economic Review 76, no. 3 (June 1986): 483–498.
- 1 Mar 2002 - 3 Mar 2004
- Conference Presentation
Does governance form matter? Evidence from stock market reactions to acquisitions and alliances
Villalonga, Belen, and Anita M. McGahan. "Does governance form matter? Evidence from stock market reactions to acquisitions and alliances." Paper presented at the Brigham Young University-University of Utah Winter Strategy Conference, March 1, 2002–March 3, 2004. (Also presented at the Strategic Management Society Annual International Conference, Paris, September 2002; MIT Organizational Economics lunch seminar, September 2002; NBER Productivity lunch seminar, Boston, April 2002; Harvard Business School Finance lunch seminar, September 2001; Academy of Management Association Annual Meeting, Washington DC, August 2001; Strategy Research Forum, Northwestern University, May 2001.)
- August 1999
- Article
How Are Stock Prices Affected by the Location of Trade?
By: K. A. Froot and E. Dabora
Keywords: Asset Pricing; Market Segmentation; International Markets; Law Of One Price; Behavioral Finance
Froot, K. A., and E. Dabora. "How Are Stock Prices Affected by the Location of Trade?" Journal of Financial Economics 53, no. 2 (August 1999): 189–216. (Reprinted in International Capital Markets, R. Stulz and A. Karolyi, eds. Edward Elgar Publishing, 2003. Also reprinted in Advances in Behavioral Finance, Vol. 2, edited by Richard Thaler. New Jersey: Princeton University Press; New York: Russell Sage Foundation, July 2005, 102-129.)