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- All HBS Web (137)
- Faculty Publications (57)
- 01 Dec 2015
- News
Giving Advice
allowed to make program-related investments (PRIs), which “count” against your 5 percent annual payout requirement. I am developing an educational project that will require an investment in several Eastern countries in excess of $300... View Details
- 02 Dec 2002
- What Do You Think?
How Will We Respond to the “Moment of Truth” in Option Plans?
largest organizations an average of 30 percent of all options granted. This occurred despite evidence suggesting that beyond a certain size of grant (well below the "mega" level) there is a much greater payout from granting... View Details
Keywords: by James Heskett
- 03 Sep 2009
- What Do You Think?
Are Retention Bonuses Worth the Investment?
This has led to a much greater reliance on pay for performance. On the other hand, pay for performance produces large payouts that periodically capture the attention of the public, not all of it positive. They helped raise the ratio of... View Details
Keywords: by Jim Heskett
- 20 Jan 2010
- First Look
First Look: Jan. 20
their firms as small firms when investors favor small firms. Local Dividend Clienteles Authors:Bo Becker, Zoran Ivkovic, and Scott Weisbenner Publication:Journal of Finance (forthcoming) Abstract We exploit demographic variation to identify the effect of dividend... View Details
Keywords: Martha Lagace
- 12 Jun 2018
- First Look
New Research and Ideas, June 12, 2018
$2.8 trillion via dividends—$7 trillion in total. These shareholder payouts amounted to over 96% of the firms' net income. Academics, corporate lawyers, asset managers, and politicians point to such shareholder-payout figures as... View Details
Keywords: Dina Gerdeman
- 28 Nov 2016
- Research & Ideas
Challenging the Belief that Liability Laws Kill Medical Device Innovation
if the payout is less than certain amount,” says Luo. Pressure on patents In order to determine those effects on innovation, Luo and Galasso obtained data from the American Tort Reform Association on tort reform efforts between 1985 and... View Details
- 17 Feb 2014
- Research & Ideas
Companies Detangle from Legacy Pensions
Prudential, which then promised to make good on the benefit payouts in the form of guaranteed annuities. The deal made sense—after all, who better than insurance companies to estimate life expectancy and long-term risk. And by pooling the... View Details
- 28 Nov 2012
- What Do You Think?
Should Pay-for-Performance Compensation be Replaced?
new potential problems to the process? Can the effectiveness of pay for performance be improved by extending payout periods or determining performance on non-financial criteria? Or should reliance on pay for performance be reduced in the... View Details
Keywords: by James Heskett
- 14 Apr 2003
- Research & Ideas
Pay-for-Performance Doesn’t Always Pay Off
Level 3. For the first six months, everyone loved the new system. The majority of teams hit Levels 2 and 3. And, said Beer, because the payout was greater than expected, management adjusted the goals upward. Then the complaints began. The... View Details
Keywords: by Martha Lagace
- 24 Nov 2014
- Research & Ideas
Corrupting Silence: Companies Must Speak Up Against Bribes
business world with revelations it had been paying bribes for contracts on a massive scale—eventually admitting to payouts in 60 percent of its markets, totaling $130 million to $275 million a year. Shopping trips to Hong Kong were the... View Details
Keywords: by Michael Blanding
- 29 Sep 2009
- First Look
First Look: September 29
Working PapersLocal Dividend Clienteles Authors:Bo Becker, Zoran Ivkovich, and Scott WeisbennerNBER Working Paper Series, No. 15175, July 2009 Abstract We exploit demographic variation to identify the effect of dividend demand on firm View Details
Keywords: Martha Lagace
- 18 May 2010
- First Look
First Look: May 18
payout policy, profitability, and industry. We consider interpretations of these results based on both time-varying risk premia and mispricing. Our results are primarily consistent with the view that firms issue and repurchase shares to... View Details
Keywords: Martha Lagace
- 13 Oct 2015
- First Look
October 13, 2015
tax savings. We find that 2,281 top executives strategically realized their built-in capital gains prior to the tax hikes to save nearly $741 million in personal taxes in 2012. These executives also (1) make payout policy choices that... View Details
- 27 Aug 2013
- First Look
First Look: August 27
fraction of their wealth increases annuitization relative to a situation where annuitization is an "all or nothing" decision. Very few respondents choose declining real payout streams over flat or increasing real View Details
Keywords: Sean Silverthorne
- 07 Jun 2017
- Research & Ideas
How an African History Scholar Became a Modern Righter of Wrongs
Leigh Day—and six decades after the Kenyan rebels were detained and tortured, the British government settled out of court with some 5,500 Kikuyu detention camp survivors. The monetary payout was 19.9 million pound sterling, the equivalent... View Details
Keywords: by Carmen Nobel
- 27 Feb 2018
- First Look
First Look at New Research and Ideas, February 27, 2018
distribution. We also find that households’ consumption is significantly more responsive to dividend payouts across all parts of the wealth distribution. Our findings are broadly consistent with near-rational behavior in which households... View Details
Keywords: Sean Silverthorne
- 23 Jun 2009
- First Look
First Look: June 23
attention to the returns of firms that do not issue at all, suggesting that issuance is partly an attempt to cater to broad time-varying patterns in characteristics mispricing. Our approach helps forecast returns to portfolios based on book-to-market (HML), size (SMB),... View Details
Keywords: Martha Lagace
- 01 Jun 2010
- News
M.I.A. Boards
Fuld told analysts, “I must say the board’s been wonderfully supportive.” The next day the board approved $100 million in payouts to five executives. Four days later the 159-year-old company declared the largest bankruptcy in U.S.... View Details
- 06 Sep 2016
- First Look
September 6, 2016
emphasizing that the company delivered strong results despite an exceptionally challenging environment, which included a nearly 50% drop in oil prices. However, shareholders questioned the massive payout and ultimately rejected BP's... View Details
Keywords: Carmen Nobel
- 01 Sep 2015
- First Look
First Look -- September 1, 2015
debt increases exogenously and they use the proceeds of equity issues to increase payouts to shareholders. Our evidence suggests that extant findings that have been attributed to constraints may instead reflect differences in the growth... View Details
Keywords: Sean Silverthorne