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Show Results For
- All HBS Web
(1,010)
- News (130)
- Research (804)
- Events (1)
- Multimedia (3)
- Faculty Publications (424)
When Do Stocks and Bonds Move Together, and Why Does it Matter?
The co-movement of Treasury bonds and stocks is an important indicator for both policy makers and for long-term investors. A positive co-movement between nominal Treasury bonds and stocks, as in the 1980s, means that nominal bonds amplify the volatility of stock... View Details
- 26 Jul 2010
- Research & Ideas
Yes, You Can Raise Prices in a Downturn
product can and usually does have different value depending on the context, thereby supporting different prices for the specific piece of business. For example, the paper stock purchased by a magazine... View Details
- Fast Answer
Options: Basics for finding price data
common stock was $57.74 and on that date the price of a call option to buy a share of JPM for $57.50 on January 18, 2014 was $0.48. That is, on January 14 you’d pay $0.48 for the right to buy the View Details
- Web
Delisted securities: prices | Baker Library
Help Center Delisted securities: prices Where can I find daily stock price data for delisted securities? US and non-US Stock View Details
- 06 Dec 2021
- Research & Ideas
The Popular Stock Metric That Can Lead Investors Astray
the company were liquidated. Market value reflects the total value of a public company’s outstanding shares based on the market price for a share. A stock with higher book-to-market ratio, such as when it is... View Details
Keywords: by Rachel Layne
- 2022
- Article
Which Corporate ESG News Does the Market React To?
By: George Serafeim and Aaron Yoon
Using a dataset that classifies firm-level ESG news as positive and negative, we examine how stock prices react to different types of ESG news. We analyze 111,020 firm-day observations for 3,126 companies and find that prices react only to issues identified as... View Details
Keywords: ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; Social Capital; Environment; Sustainability; CSR; Stock Price; Stock Market Expectations; Materiality; Market Reaction; Environmental Sustainability; Governance; Social Issues; Performance; News
Serafeim, George, and Aaron Yoon. "Which Corporate ESG News Does the Market React To?" Financial Analysts Journal 78, no. 1 (2022): 59–78.
- November 1984
- Background Note
Black-Scholes Option Pricing Program for the HP 12C Calculator
By: Andre F. Perold
Contains a program that can be used on the HP12C pocket calculator to compute the Black-Scholes option price and the associated hedge ratio. The program must be given the following parameters: the exercise price, the risk-free rate, the time to expiration, and the... View Details
Perold, Andre F. "Black-Scholes Option Pricing Program for the HP 12C Calculator." Harvard Business School Background Note 285-057, November 1984.
- Research Summary
Portfolio Betas Do Not Make for Better Asset Pricing Tests
Many papers claim that because using portfolios instead of individual stocks as test assets minimizes idiosyncratic volatility, their use also yields more precise estimates of risk premia. I show that while portfolio formation does lead to more efficient beta... View Details
- January 2017
- Article
Being Surprised by the Unsurprising: Earnings Seasonality and Stock Returns
By: Tom Y. Chang, Samuel M. Hartzmark, David H. Solomon and Eugene F. Soltes
We present evidence consistent with markets failing to properly price information in seasonal earnings patterns. Firms with historically larger earnings in one quarter of the year (“positive seasonality quarters”) have higher returns when those earnings are usually... View Details
Chang, Tom Y., Samuel M. Hartzmark, David H. Solomon, and Eugene F. Soltes. "Being Surprised by the Unsurprising: Earnings Seasonality and Stock Returns." Review of Financial Studies 30, no. 1 (January 2017): 281–323.
- 2009
- Working Paper
Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations
By: Diego A. Comin, Mark Gertler and Ana Maria Santacreu
We develop a model in which innovations in an economy's growth potential are an important driving force of the business cycle. The framework shares the emphasis of the recent "new shock" literature on revisions of beliefs about the future as a source of fluctuations,... View Details
Keywords: Business Cycles; Economic Growth; Asset Pricing; Technological Innovation; Mathematical Methods; System Shocks; Technology Adoption
Comin, Diego A., Mark Gertler, and Ana Maria Santacreu. "Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations." Harvard Business School Working Paper, No. 09-134, May 2009. (Revise and Resubmit at the Journal of Political Economy.)
- 02 Jul 2009
- Working Paper Summaries
Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations
- 17 Jul 2017
- Working Paper Summaries
The Relevance of Broker Networks for Information Diffusion in the Stock Market
- 20 Mar 2013
- News
ETF Beating Market With Gains Less Price Swings: Riskless Return
- September 1997 (Revised February 2000)
- Exercise
Exercises in Option Pricing and Real Option Analysis
By: Benjamin C. Esty
Contains five problems, one each on basic option pricing, abandonment value, the value of waiting to invest, contingent claims analysis (equity as a call option), and strategic decision making in an option framework. The goal is for students to recognize option value... View Details
- 01 Apr 2001
- News
Tatsuyuki Saeki: Putting Stock in New Options at Nasdaq Japan
of the wildly successful American technology stock market. Launched last year as a joint venture between the U.S. Nasdaq, Japan’s Softbank Corporation, and thirteen leading Japanese and foreign brokerages, Nasdaq Japan aims to break the... View Details
- August 2024
- Article
Not a One-Trick Pony: Price Impact of Rating Agency Information
By: Michael Machokoto and Anywhere Sikochi
Prior literature on the informational role of credit rating agencies has largely focused on announcements by the rating agencies regarding rating actions. We take a tangent in this paper and examine the relevance of rating agencies' other information disclosures beyond... View Details
Machokoto, Michael, and Anywhere Sikochi. "Not a One-Trick Pony: Price Impact of Rating Agency Information." Art. 111837. Economics Letters 241 (August 2024).
- October 1984 (Revised July 2003)
- Case
At the T. Rowe Price Trading Desk (A)
By: Andre F. Perold
Describes the events surrounding the sale of a particular large block of a thinly traded stock. Brings the situation to the point at which the seller has received an offer, and must now decide what to do. View Details
Perold, Andre F. "At the T. Rowe Price Trading Desk (A)." Harvard Business School Case 285-041, October 1984. (Revised July 2003.)
- August 2007 (Revised June 2020)
- Case
Trouble with a Bubble
By: Tom Nicholas
Examines technology, firm performance, and the stock market during the 1929 Great Crash and the Great Depression of the 1930s. The 1920s was an extraordinary period of technological progress marked by a strong run-up in stock market prices. Firms invested heavily in... View Details
Keywords: Bubble; Stock Market; Great Depression; Irving Fisher; Information Technology; Organizational Change and Adaptation; History; Financial Markets; Performance; Labor and Management Relations; Equity; Financial Crisis; Innovation and Invention; United States
Nicholas, Tom. "Trouble with a Bubble." Harvard Business School Case 808-067, August 2007. (Revised June 2020.)
Naked Wines: The Profit vs. Growth Decision
Nick Devlin faced a difficult strategic decision in October 2022. As the CEO of a UK-based subscription business connecting wine drinkers in the US, UK, and Australia with winemakers from around the world (which one journalist called the “Netflix of Wine”), he had... View Details
- Web
Center for Research in Security Prices (CRSP) | Baker Library
Center for Research in Security Prices (CRSP) Security-level historical pricing, returns, and volume data on more than 20,000 stocks (inactive and active companies) from the NYSE, AMEX, and NASDAQ markets,... View Details