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Show Results For
- All HBS Web
(2,823)
- People (2)
- News (577)
- Research (1,934)
- Events (9)
- Multimedia (27)
- Faculty Publications (1,233)
- May 2008
- Article
Regulation and Bonding: The Sarbanes-Oxley Act and the Flow of International Listings
By: Suraj Srinivasan and Joseph Piotroski
In this paper, we examine the economic impact of the Sarbanes-Oxley Act (SOX) by analyzing foreign listing behavior onto U.S. and U.K. stock exchanges before and after the enactment of the Act in 2002. Using a sample of all listing events onto U.S. and U.K. exchanges... View Details
Keywords: Decision Choices and Conditions; Stocks; Government Legislation; Market Transactions; Motivation and Incentives; United Kingdom; United States
Srinivasan, Suraj, and Joseph Piotroski. "Regulation and Bonding: The Sarbanes-Oxley Act and the Flow of International Listings." Journal of Accounting Research 46, no. 2 (May 2008).
- 24 Oct 2016
- Research & Ideas
Bernie Madoff Explains Himself
service of buying shares; now Madoff had turned the practice upside down and was paying them to trade. That innovation diverted trading away from the New York Stock Exchange floor, and by the early 1990s, Madoff’s firm was handling... View Details
- 06 Jun 2011
- Research & Ideas
Why Leaders Lose Their Way
forced to resign for trading in Lubrizol stock prior to recommending that Berkshire Hathaway purchase the company. Examples abound of other recent failures: Hewlett-Packard CEO Mark Hurd resigned for submitting false expense reports... View Details
Keywords: by Bill George
- January 2022 (Revised November 2023)
- Supplement
Uber in China (C): The Cost of Success for Didi
By: William C. Kirby and Noah B. Truwit
On June 30, 2021, ride-hailing giant Didi Chuxing (Didi) raised $4.4 billion in its initial public offering (IPO) on the New York Stock Exchange (NYSE), the largest IPO of a Chinese company listed on an American exchange since Alibaba raised $25 billion in 2014.... View Details
Keywords: Uber; Didi Chuxing; Start-up Growth; Regulation; Ride-sharing; Transportation; Business Startups; Business and Government Relations; Cross-Cultural and Cross-Border Issues; Growth and Development; Policy; Competition; Laws and Statutes; Transportation Industry; Technology Industry; China
Kirby, William C., and Noah B. Truwit. "Uber in China (C): The Cost of Success for Didi." Harvard Business School Supplement 322-068, January 2022. (Revised November 2023.)
- 1980
- Working Paper
Components of Manufacturing Inventories: A Structural Model of the Production Process
By: Alan J. Auerbach and Jerry R. Green
This paper presents a structural model of production and inventory accumulation based on the hypothesis of cost minimization. It differs from previous attempts in several respects. First, it integrates the analysis of input inventories with output inventories, treating... View Details
Auerbach, Alan J., and Jerry R. Green. "Components of Manufacturing Inventories: A Structural Model of the Production Process." NBER Working Paper Series, No. 491, June 1980.
- October 2020
- Article
IQ from IP: Simplifying Search in Portfolio Choice
By: Huaizhi Chen, Lauren Cohen, Umit Gurun, Dong Lou and Christopher J. Malloy
Using a novel database that tracks web traffic on the SEC’s EDGAR servers between 2004 and 2015, we show that mutual fund managers gather information on a very particular subset of firms and insiders, and their surveillance is very persistent over time. This tracking... View Details
Keywords: Tracked Trades; Return Predictability; Institutional Trading; Insider Trading; Institutional Investing; Information; Investment Portfolio; Decisions; Management
Chen, Huaizhi, Lauren Cohen, Umit Gurun, Dong Lou, and Christopher J. Malloy. "IQ from IP: Simplifying Search in Portfolio Choice." Journal of Financial Economics 138, no. 1 (October 2020): 118–137. (Winner of the First Prize, Crowell Memorial Award for Best Paper in Quantitative Investments, PanAgora Asset Management, 2019.)
- 2019
- Working Paper
Migrant Inventors and the Technological Advantage of Nations
We investigate the relationship between the presence of migrant inventors and the dynamics of innovation in the migrants’ receiving countries. We find that countries are 25% to 50% more likely to gain advantage in patenting in certain technologies given a twofold... View Details
Keywords: Innovation; Migration; Patent; Immigration; Innovation and Invention; Patents; Information Technology; Knowledge Dissemination
Bahar, Dany, Prithwiraj Choudhury, and Hillel Rapoport. "Migrant Inventors and the Technological Advantage of Nations." Harvard Business School Working Paper, No. 19-119, May 2019.
- Third Quarter 2018
- Article
Why and How Investors Use ESG Information: Evidence from a Global Survey
By: Amir Amel-Zadeh and George Serafeim
Using survey data from a sample of senior investment professionals from mainstream (i.e., not SRI funds) investment organizations, we provide insights into why and how investors use reported environmental, social, and governance (ESG) information. Relevance to... View Details
Keywords: ESG; ESG (Environmental, Social, Governance) Performance; Sustainability; Investment Management; Investment Strategy; Metrics; Standard Setting; Accounting Standards; Finance; Investment; Information; Environmental Sustainability; Governance; Performance Effectiveness; Strategy
Amel-Zadeh, Amir, and George Serafeim. "Why and How Investors Use ESG Information: Evidence from a Global Survey." Financial Analysts Journal 74, no. 3 (Third Quarter 2018): 87–103.
- April 2014
- Article
Golden Parachutes and the Wealth of Shareholders
By: Lucian A. Bebchuk, Alma Cohen and Charles C.Y. Wang
Golden parachutes (GPs) have attracted substantial attention from investors and public officials for more than two decades. We find that GPs are associated with higher expected acquisition premiums and that this association is at least partly due to the effect of GPs... View Details
Keywords: Golden Parachute; Acquisitions; Takeovers; Acquisition Takeover; Acquisition Likelihood; Acquisition Premiums; Agency Costs; Managerial Slack; Dodd-Frank; Executive Compensation; Acquisition; Corporate Governance; Business and Shareholder Relations
Bebchuk, Lucian A., Alma Cohen, and Charles C.Y. Wang. "Golden Parachutes and the Wealth of Shareholders." Journal of Corporate Finance 25 (April 2014): 140–154.
- 2012
- Working Paper
A Framework for Research on Corporate Accountability Reporting
By: Karthik Ramanna
This paper provides an accounting-based conceptual framing of the phenomenon of corporate accountability reporting. Such reporting is seen as arising from a delegator's (e.g., a citizenry) demand to hold a delegate (e.g., shareholders) to account. When effective,... View Details
Keywords: Integrated Corporate Reporting; For-Profit Firms; Framework; Corporate Accountability; Corporate Governance; Corporate Social Responsibility and Impact; Research; Environmental Sustainability; Social Issues
Ramanna, Karthik. "A Framework for Research on Corporate Accountability Reporting." Harvard Business School Working Paper, No. 12-021, September 2011. (Revised July 2012, October 2012.)
- July 2000 (Revised November 2001)
- Case
Catalyst Medical Solutions
By: Amy C. Edmondson, Richard M.J. Bohmer and Naomi Atkins
Faced with a drop in the NASDAQ, four eHealth entrepreneurs must decide between two distribution strategies for their new company's technology. The team, comprised of three full-time resident physicians and an MBA, has developed software to enable electronic... View Details
Keywords: Product Development; Health Care and Treatment; Distribution; Strategy; Venture Capital; Applications and Software; Partners and Partnerships; Borrowing and Debt; Information Technology Industry; Service Industry
Edmondson, Amy C., Richard M.J. Bohmer, and Naomi Atkins. "Catalyst Medical Solutions." Harvard Business School Case 601-014, July 2000. (Revised November 2001.)
- November 1996
- Case
Del Webb Corporation (A), The
By: Jay W. Lorsch and Samanta Graff
Begins with a company history, tracing the tenures of founder Del E. Webb and his successor as chairman and CEO, Robert H. Johnson. Johnson inherited a diversified company that was involved in construction, real estate development (including the famous Sun City), and... View Details
Keywords: Management Style; Conflict Management; Governing and Advisory Boards; Management Succession; Crisis Management
Lorsch, Jay W., and Samanta Graff. "Del Webb Corporation (A), The." Harvard Business School Case 497-016, November 1996.
- 05 Jul 2006
- Working Paper Summaries
Bankers, Industrialists, and Their Cliques: Elite Networks in Mexico and Brazil During Early Industrialization
- Research Summary
Effective Capital Market Communications
Hutton's most recent research and cases examine how managers enhance the credibility and effectiveness of their financial reports and voluntary disclosures. Her most recent working paper, "Effective Voluntary Disclosure" (co-authored with Greg Miller, HBS, and Douglas... View Details
- October 2023
- Article
Innovation on Wings: When Do Nonstop Flights Matter for Global Innovation?
By: Dany Bahar, Prithwiraj Choudhury, Do Yoon Kim and Wesley Koo
We study whether, when, and how better connectivity through nonstop flights leads to positive innovation outcomes for firms in the global context. Using unique data of all flights emanating from 5,015 airports around the globe from 2005 to 2015 and exploiting a... View Details
Keywords: Nonstop Flights; Collaborative Innovation and Invention; Patents; Research and Development; Air Transportation Industry
Bahar, Dany, Prithwiraj Choudhury, Do Yoon Kim, and Wesley Koo. "Innovation on Wings: When Do Nonstop Flights Matter for Global Innovation?" Management Science 69, no. 10 (October 2023): 6202–6223.
- January 2019 (Revised February 2019)
- Supplement
The a2 Milk Company
By: Benjamin C. Esty, Daniel Fisher and Greg Saldutte
The a2 Milk Company (a2MC) became the most valuable company listed on the New Zealand stock exchange in 2018 by capitalizing on a biochemical discovery related to the protein composition of cow's milk. Because many people find the A1 protein difficult to digest, and... View Details
Keywords: Judo Economics; Market Entry; Innovation; Barriers To Response; Industry Attractiveness; Advantage Horizon; Sustainability; First-mover Advantage; Scope; Strategy Execution; Strategic Evolution; Biochemistry; Genetics; Branding; Commodity; Milk; Dairy; Infant Formula; Farming; Porter's Five Forces; Competitive Advantage; Corporate Strategy; Value Creation; Competition; Market Entry and Exit; Disruption; Innovation and Invention; Five Forces Framework; Consumer Products Industry; New Zealand; Australia; China
- November–December 2016
- Article
The Impact of Patent Wars on Firm Strategy: Evidence from the Global Smartphone Industry
By: Yongwook Paik and Feng Zhu
Strategy scholars have documented in various empirical settings that firms seek and leverage stronger institutions to mitigate hazards and gain competitive advantage. In this paper, we argue that such “institution-seeking” behavior may not be confined to the pursuit of... View Details
Keywords: Patent Wars; Patent Litigation; Intellectual Property (IP) Enforcement; Institutions; Patent Thicket; Smartphone; Patents; Corporate Strategy; Mobile Technology
Paik, Yongwook, and Feng Zhu. "The Impact of Patent Wars on Firm Strategy: Evidence from the Global Smartphone Industry." Organization Science 27, no. 6 (November–December 2016): 1397–1416.
- October 2013
- Supplement
Alcoa's Bid for Alcan (B)
By: Paul Healy and Penelope Rossano
In spring 2007, Alcoa CEO Alain Belda was concerned about the company's market position in light of increased competition from developing markets. China's recent entry into the aluminum market was affecting both supply and demand. Furthermore, downstream and upstream... View Details
Keywords: Strategy; Acquisitions; Alcoa; Alcan; Rio Tinto; Aluminum Industry; Accounting; Financial Analysis; Consolidation; Market Participation; Financial Statements; Acquisition; Mining; Mining Industry; Canada; United States
Healy, Paul, and Penelope Rossano. "Alcoa's Bid for Alcan (B)." Harvard Business School Supplement 114-030, October 2013.
- 2012
- Book
Strategic IQ: Creating Smarter Corporations
By: John R. Wells
In today's world, only the smartest survive. The competitive landscape is littered with graves of well-known firms whose revenues, profits and stock prices rose for decades until they suddenly imploded.
In fast-changing business environments, firms must adapt... View Details
Keywords: Organizational Change and Adaptation; Change Management; Competition; Business Growth and Maturation; Adaptation; Corporate Strategy; Decision Making; Innovation and Invention
Wells, John R. Strategic IQ: Creating Smarter Corporations. San Francisco, CA: Jossey-Bass, 2012.
- August 2010
- Article
Sell-Side School Ties
By: Lauren H. Cohen, Christopher J. Malloy and Andrea Frazzini
We study the impact of social networks on agents' ability to gather superior information about firms. Exploiting novel data on the educational backgrounds of sell-side equity analysts and senior officers of firms, we test the hypothesis that analysts' school ties to... View Details
Keywords: Investment Return; Investment Portfolio; Corporate Disclosure; Governing Rules, Regulations, and Reforms; Knowledge Acquisition; Social and Collaborative Networks
Cohen, Lauren H., Christopher J. Malloy, and Andrea Frazzini. "Sell-Side School Ties." Journal of Finance 65, no. 4 (August 2010): 1409–1437. (Winner of Smith Breeden Prize for the Best Paper Published in the Journal of Finance in Asset Pricing (Distinguished Paper) 2010.)