Publications
Publications
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- All HBS Web
(600)
- Faculty Publications (137)
- 2018
- Working Paper
Detecting Anomalies: The Relevance and Power of Standard Asset Pricing Tests
By: Malcolm Baker, Patrick Luo and Ryan Taliaferro
The two standard approaches for identifying capital market anomalies are cross-sectional coefficient tests, in the spirit of Fama and MacBeth (1973), and time-series intercept tests, in the spirit of Jensen (1968). A new signal can pass the first test, which we label a... View Details
- 2025
- Working Paper
Government-Brokerage Analysts and Market Stabilization: Evidence from China
By: Sheng Cao, Xianjie He, Charles C.Y. Wang and Huifang Yin
We show analysts at government-controlled brokerage firms serve as a market stabilization tool
in China. Using earnings forecasts from 2005–2019, we find government-brokerage analysts
issue relatively more optimistic—yet less accurate and timely—forecasts during... View Details
- March 2018
- Supplement
China Vanke: Battle for Control (B)
By: Lynn S. Paine, Charles C.Y. Wang, Dawn H. Lau and Anthony K. Woo
China Resources expresses disagreement over the validity of the results of the board vote as announced by China Vanke. It further raises objections to Vanke's handling of the announcement as well as reiterates its doubts about the strategic rationale of the proposed... View Details
- March 2018
- Supplement
China Vanke: Battle for Control (C)
By: Lynn S. Paine, Charles C.Y. Wang, Dawn H. Lau and Anthony K. Woo
Baoneng calls for the removal of China Vanke's board of directors, citing as reasons the directors' mishandling of the Shenzhen Metro proposal as well as the company's various breaches of corporate governance requirements. Vanke defends itself against Baoneng's... View Details
- 2023
- Working Paper
Efficient Discovery of Heterogeneous Quantile Treatment Effects in Randomized Experiments via Anomalous Pattern Detection
By: Edward McFowland III, Sriram Somanchi and Daniel B. Neill
In the recent literature on estimating heterogeneous treatment effects, each proposed method makes its own set of restrictive assumptions about the intervention’s effects and which subpopulations to explicitly estimate. Moreover, the majority of the literature provides... View Details
- Article
Mitigating Bias in Adaptive Data Gathering via Differential Privacy
By: Seth Neel and Aaron Leon Roth
Data that is gathered adaptively—via bandit algorithms, for example—exhibits bias. This is true both when gathering simple numeric valued data—the empirical means kept track of by stochastic bandit algorithms are biased downwards—and when gathering more complicated... View Details
- 2017
- Working Paper
Rethinking Measurement of Pay Disparity and its Relation to Firm Performance
By: Ethan Rouen
I develop measures of firm-level pay disparity and examine their relation to firm accounting performance. Using comprehensive compensation data for a large sample of firms, I find no statistically significant relation between the ratio of CEO-to-mean employee... View Details
- Article
Selfishly Benevolent or Benevolently Selfish? When Self-interest Undermines versus Promotes Prosocial Behavior
By: Julian Zlatev and Dale T. Miller
Existing research shows that appeals to self-interest sometimes increase and sometimes decrease prosocial behavior. We propose that this inconsistency is in part due to the framings of these appeals. Different framings generate different salient reference points,... View Details
- October 2016 (Revised December 2016)
- Module Note
Strategy Execution Module 6: Evaluating Strategic Profit Performance
By: Robert Simons
This module reading demonstrates how to calculate and analyze the profit generated by different business strategies. Formulas and examples are provided to calculate profit generated by changes in market share, revenue growth, efficiency improvements, and support costs.... View Details
- October 2016 (Revised November 2016)
- Case
Innovating Beyond Ochsner
By: Richard G. Hamermesh and Olivia Hull
The Ochsner Health System has developed a proprietary software tool designed to treat hypertension. Built into the system’s electronic medical records, the Hypertension Digital Medicine program allows patients to record their blood pressure at home and share readings... View Details
Keywords: Electronic Medical Records; Telemedicine; Hypertension; High Blood Pressure; Chronic Disease; Entrepreneurship; Health Disorders; Business Model; Business Startups; Innovation and Invention; Growth Management; Marketing Strategy; Product Launch; Product Positioning; Science-Based Business; Business Strategy; Health Industry; Technology Industry; New Orleans; Louisiana
- Fall 2016
- Article
The Integrity of Private Third-party Compliance Monitoring
By: Jodi L. Short and Michael W. Toffel
Government agencies are increasingly turning to private, third-party monitors to inspect and assess regulated entities’ compliance with law. The integrity of these regulatory regimes rests on the validity of the information third-party monitors provide to regulators.... View Details
Keywords: Regulation; Compliance; Compliance Policies; Conflict Of Interest; Independent Third Party; Inspection; Audit Quality; Auditor; Audit; Environment; Safety; Conflict of Interests; Working Conditions; Labor; Corporate Social Responsibility and Impact; Governance Compliance; Accounting Audits
- July 2016
- Article
Do Prices Determine Vertical Integration?
By: Laura Alfaro, Paola Conconi, Harald Fadinger and Andrew F. Newman
What is the relationship between product prices and vertical integration? While the literature has focused on how integration affects prices, this paper provides evidence that prices can affect integration. Many theories in organizational economics and industrial... View Details
- June 2016 (Revised December 2017)
- Case
Google to Alphabet: Ten Things We Know to Be True
By: Robert Simons and Annelena Lobb
Google’s founders wrote “10 Things We Know to Be True,” a document detailing founding principles and values, early in the company’s life. As the company expanded, added business units, and changed its name to Alphabet, were these principles and values still valid and... View Details
- Article
Third-party Punishment as a Costly Signal of Trustworthiness
By: Jillian J. Jordan, Moshe Hoffman, Paul Bloom and David G. Rand
Third-party punishment (TPP), in which unaffected observers punish selfishness, promotes cooperation by deterring defection. But why should individuals choose to bear the costs of punishing? We present a game theoretic model of TPP as a costly signal of... View Details
- 2015
- Working Paper
The Integrity of Private Third-party Compliance Monitoring
By: Jodi L. Short and Michael W. Toffel
Government agencies are increasingly turning to private, third-party monitors to inspect and assess regulated entities’ compliance with law. The integrity of these regulatory regimes rests on the validity of the information third-party monitors provide to regulators.... View Details
Keywords: Regulation; Compliance; Compliance Policies; Conflict Of Interest; Independent Third Party; Inspection; Audit Quality; Auditor; Audit; Environment; Production; Supply Chain; Quality; Government Administration; Working Conditions; Safety; Labor; Governing Rules, Regulations, and Reforms; Governance Compliance; Manufacturing Industry; Public Administration Industry; Accounting Industry; Service Industry; United States
- July 2015
- Case
Uncharted Play (A)
By: Shikhar Ghosh and Ali Huberlie
The case recounts the process of launching an early stage venture, from idea conception through initial efforts to validate the concept, followed by product launch, and fund raising. It emphasizes the Customer Value Proposition of the business model, and asks – Who is... View Details
- Article
Real Effects of Relational Contracts
By: Steven Blader, Claudine Gartenberg, Rebecca Henderson and Andrea Pratt
How important are factors such as "firm culture" and "employee engagement" in driving firm performance? Increasing evidence from a wide range of fields suggests that productivity differs widely across firms, even after the inclusion of careful controls for factors such... View Details
- Article
A Case for Contextual Intelligence
By: Tarun Khanna
In this perspective, I make a case for entrepreneurs and academics alike to focus on what I have referred to elsewhere as Contextual Intelligence, the ability to understand the limits of our knowledge, and to adapt that knowledge to a context different from the one in... View Details
- April 2015
- Article
Measuring Teamwork in Health Care Settings: A Review of Survey Instruments
By: Melissa Valentine, Ingrid M. Nembhard and Amy C. Edmondson
Background: Teamwork in health care settings is widely recognized as an important factor in providing high quality patient care. However, the behaviors that comprise effective teamwork, the organizational factors that support teamwork, and the relationship... View Details
- Article
Better Accounting Transforms Health Care Delivery
By: Robert S. Kaplan and Mary L. Witkowski
The paper describes the theory and preliminary results for an action research program that explores the implications from better measurements of health care outcomes and costs. After summarizing Porter's outcome taxonomy (Porter 2010), we illustrate how to use process... View Details