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- All HBS Web
(2,137)
- People (3)
- News (351)
- Research (1,439)
- Events (5)
- Multimedia (4)
- Faculty Publications (665)
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- December 2012
- Article
Evidence on the Use of Unverifiable Estimates in Required Goodwill Impairment
By: Karthik Ramanna and Ross L. Watts
SFAS 142 requires managers to estimate the current fair value of goodwill to determine goodwill write-offs. In promulgating the standard, the FASB predicted managers will, on average, use the fair value estimates to convey private information on future cash flows. The... View Details
Keywords: Goodwill Impairment; Fair-value Accounting; FASB; SFAS 142; Fair Value Accounting; Standards; Cash Flow; Agency Theory; Motivation and Incentives; Forecasting and Prediction; Goodwill Accounting
Ramanna, Karthik, and Ross L. Watts. "Evidence on the Use of Unverifiable Estimates in Required Goodwill Impairment." Review of Accounting Studies 17, no. 4 (December 2012): 749–780.
- January 2025 (Revised March 2025)
- Case
Creating Value by Splitting Aster: Can One Minus One Equal Two?
By: V.G. Narayanan and Kairavi Dey
Aster DM Healthcare (Aster), founded by Dr. Azad Moopen in 1987, is a prominent healthcare conglomerate with operations spanning hospitals, clinics, retail pharmacies, and diagnostic centers across India and the GCC. After its 2018 listing on India’s National Stock... View Details
Keywords: Corporate Governance; Corporate Accountability; Leadership; Change Management; Mergers and Acquisitions; Restructuring; Negotiation; Valuation; Health Industry; Asia; India; Middle East; United Arab Emirates
Narayanan, V.G., and Kairavi Dey. "Creating Value by Splitting Aster: Can One Minus One Equal Two?" Harvard Business School Case 125-069, January 2025. (Revised March 2025.)
- September 2009 (Revised December 2011)
- Teaching Note
IBM Values and Corporate Citizenship (TN)
By: Rosabeth M. Kanter and Matthew Bird
Teaching Note for [308106]. View Details
- May 2015 (Revised December 2016)
- Supplement
Generating Higher Value at IBM (B)
By: Benjamin C. Esty and E. Scott Mayfield
Keywords: Dividends; Share Repurchases; Earnings Guidance; Financial Statement Analysis; Financial Ratios; Payout Policy; Earnings Per Share (EPS); Value Creation; Financial Statements; Corporate Finance; Computer Industry
Esty, Benjamin C., and E. Scott Mayfield. "Generating Higher Value at IBM (B)." Harvard Business School Supplement 215-059, May 2015. (Revised December 2016.)
- March 2020
- Article
Synergistic Value in Vertically Integrated Power-to-Gas Energy Systems
By: Gunther Glenk and Stefan Reichelstein
In vertically integrated energy systems, integration frequently entails operational gains that must be traded off against the requisite cost of capacity investments. In the context of the model analyzed in this study, the operational gains are subject to inherent... View Details
Keywords: Vertical Integration; Volatility; Capital Investment; Capacity Management; Renewable Energy; Green Hydrogen; Decarbonization; Carbon Emissions; Environment; Energy; Environmental Accounting; Environmental Management; Environmental Sustainability; Investment; Decision Making; Operations; Technological Innovation; Green Technology; Energy Industry; Utilities Industry; Consulting Industry; Green Technology Industry; Industrial Products Industry; Manufacturing Industry; Technology Industry; Steel Industry; Shipping Industry; Transportation Industry; Europe; North America; South America; Africa; Asia
Glenk, Gunther, and Stefan Reichelstein. "Synergistic Value in Vertically Integrated Power-to-Gas Energy Systems." Production and Operations Management 29, no. 3 (March 2020): 526–546.
- 12 Oct 1999
- Research & Ideas
Value Judgments: Business Ethics Across Borders
several years ago in Asian Business magazine's annual most admired companies survey, Siam Cement Group (SCG) was one of the first firms in Thailand to develop its own written code of ethics. SCG's philosophy is rooted in the Buddhist concept of View Details
Keywords: by Judith A. Ross
- May 2015 (Revised September 2017)
- Case
Generating Higher Value at IBM (A)
By: Benjamin C. Esty and E. Scott Mayfield
This case analyzes IBM's financial performance and its capital allocation decisions over a 10-year period from 2004-2013, during which IBM returned more than $140B to shareholders through a combination of dividends and share repurchases. During this time, CEO Sam... View Details
Keywords: Dividends; Share Repurchases; Earnings Guidance; Financial Statement Analysis; Financial Ratios; Payout Policy; Earnings Per Share (EPS); Earnings Management; Change Management; Leadership; Transformation; Financial Strategy
Esty, Benjamin C., and E. Scott Mayfield. "Generating Higher Value at IBM (A)." Harvard Business School Case 215-058, May 2015. (Revised September 2017.)
- 10 May 2004
- Research & Ideas
Rethink the Value of Joint Ventures
such far-flung but tightly integrated subsidiaries? How do you ensure that financial reporting is effective while simultaneously optimizing your tax position? How do you design compensation systems that provide for local accountability... View Details
Keywords: by Cynthia Churchwell
- June 2010 (Revised August 2021)
- Case
Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V. (VHSS): Valuing Ships
By: Benjamin C. Esty and Albert Sheen
After booming for more than five years, the global shipping (maritime) industry experienced a dramatic crash in late 2008 as the global financial system froze and the global economy slid into recession. Ship charter rates (revenue) fell by as much as 90% causing prices... View Details
Keywords: Fair Value Accounting; Financial Crisis; Capital Markets; Financial Liquidity; International Finance; Globalized Markets and Industries; Valuation; Banking Industry; Shipping Industry; Germany
Esty, Benjamin C., and Albert Sheen. "Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V. (VHSS): Valuing Ships." Harvard Business School Case 210-058, June 2010. (Revised August 2021.)
- May 2011
- Article
Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting
By: George Serafeim
I analyze Embedded Value (EV) reporting by firms with life insurance operations to assess the impact of unregulated financial reporting on transparency and to examine the institutional characteristics that promote unregulated reporting. Under EV accounting the present... View Details
Keywords: Financial Statements; Mergers and Acquisitions; Financial Reporting; Cash Flow; Contracts; Equity; Profit; Value; Corporate Disclosure; Governing Rules, Regulations, and Reforms; Business and Shareholder Relations; Business Earnings
Serafeim, George. "Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting." Journal of Accounting Research 49, no. 2 (May 2011).
- 2019
- White Paper
Impact-Weighted Financial Accounts: The Missing Piece for an Impact Economy
By: George Serafeim, T. Robert Zochowski and Jennifer Downing
Reimagining capitalism is an imperative. We need to create a more inclusive and sustainable form of capitalism that works for every person and the planet. Massive environmental damage, growing income and wealth disparity, stress, and depression within developed... View Details
Keywords: Impact-Weighted Accounts; IWAI; Background; Economic Systems; Economy; Corporate Social Responsibility and Impact; Measurement and Metrics; Financial Statements
Serafeim, George, T. Robert Zochowski, and Jennifer Downing. "Impact-Weighted Financial Accounts: The Missing Piece for an Impact Economy." White Paper, Harvard Business School, Boston, MA, September 2019.
- 2021
- Working Paper
Hidden Software and Veiled Value Creation: Illustrations from Server Software Usage
By: Raviv Murciano-Goroff, Ran Zhuo and Shane Greenstein
How do you measure the value of a commodity that transacts at a price of zero from an economic standpoint? This study examines the potential for and extent of omission and misattribution in standard approaches to economic accounting with regards to open source... View Details
Keywords: Server Software; Open Source Distribution; Applications and Software; Analytics and Data Science; Economics; Value Creation; Measurement and Metrics
Murciano-Goroff, Raviv, Ran Zhuo, and Shane Greenstein. "Hidden Software and Veiled Value Creation: Illustrations from Server Software Usage." NBER Working Paper Series, No. 28738, April 2021.
- July 2010 (Revised August 2021)
- Supplement
Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V. (VHSS): Valuing Ships (CW)
By: Benjamin C. Esty and Albert W. Sheen
After booming for more than five years, the global shipping (maritime) industry experienced a dramatic crash in late 2008 as the global financial system froze and the global economy slid into recession. Ship charter rates (revenue) fell by as much as 90% causing prices... View Details
- 1999
- Other Unpublished Work
Value and Reporting in the Insurance Industry
By: Robert G. Eccles Jr. and Michael P. Nelligan
- 1999
- Other Unpublished Work
Value and Reporting in the Banking Industry
By: Robert G. Eccles Jr. and John K. Fletcher
- 2013
- Book
Manufacturing Morals: The Values of Silence in Business School Education
By: Michel Anteby
Corporate accountability is never far from the front page and Harvard Business School trains many future business leaders. But how does HBS formally and informally ensure its members embrace proper business standards? Relying on his faculty experience, Michel Anteby... View Details
Keywords: Ethics; Moral Sensibility; Business Education; Higher Education; Education; Education Industry; United States
Anteby, Michel. Manufacturing Morals: The Values of Silence in Business School Education. University of Chicago Press, 2013.
- September 2014
- Article
Defining the Value of Proton Therapy Using Time-Driven Activity-Based Costing
By: N.G. Thaker, A.B. Guzman, Thomas W. Feeley, T.M. Jones, J.R. Incalcaterra, C. Kolom, S.J. Frank, L.S. Tatum, Ronald S. Walters, Scott B. Cantor, D.I. Rosenthal, A.S. Garden, G.B. Gunn, C.D. Fuller and M.B. Palmer
Technological innovations in radiation therapy (RT) have rapidly improved the quality of care for patients with head and neck cancer. Intensity-modulated proton therapy (MPT) holds promise of further improving outcomes compared with the current photon-based technique... View Details
Keywords: Time-Driven Activity-Based Costing; Health Care and Treatment; Technological Innovation; Activity Based Costing and Management
Thaker, N.G., A.B. Guzman, Thomas W. Feeley, T.M. Jones, J.R. Incalcaterra, C. Kolom, S.J. Frank, L.S. Tatum, Ronald S. Walters, Scott B. Cantor, D.I. Rosenthal, A.S. Garden, G.B. Gunn, C.D. Fuller, and M.B. Palmer. "Defining the Value of Proton Therapy Using Time-Driven Activity-Based Costing." Oncology Payers, no. 1 (September 2014): 22–28.
- spring 1995
- Article
Mark-to-Market Accounting for Banks and Thrifts: Lessons from the Danish Experience
By: Victor L Bernard, Robert C. Merton and Krishna G. Palepu
Bernard, Victor L., Robert C. Merton, and Krishna G. Palepu. "Mark-to-Market Accounting for Banks and Thrifts: Lessons from the Danish Experience." Journal of Accounting Research 33, no. 1 (spring 1995): 1–32.
- June 2024
- Article
Valuing the Societal Impact of Medicines and Other Health Technologies: A User Guide to Current Best Practices
By: Jason Shafrin, Jaehong Kim, Joshua T. Cohen, Louis P. Garrison, Dana A. Goldman, Jalpa A. Doshi, Joshua Krieger, Darius N. Lakdawalla, Peter J. Neumann, Charles E. Phelps, Melanie D. Whittington and Richard Willke
This study argues that value assessment conducted from a societal perspective should rely on the Generalized Cost-Effectiveness Analysis (GCEA) framework proposed herein. Recently developed value assessment inventories—such as the Second Panel on Cost-Effectiveness’s... View Details
Shafrin, Jason, Jaehong Kim, Joshua T. Cohen, Louis P. Garrison, Dana A. Goldman, Jalpa A. Doshi, Joshua Krieger, Darius N. Lakdawalla, Peter J. Neumann, Charles E. Phelps, Melanie D. Whittington, and Richard Willke. "Valuing the Societal Impact of Medicines and Other Health Technologies: A User Guide to Current Best Practices." Forum of Health Economics and Policy 27, no. 1 (June 2024): 29–116.
- March 2025
- Case
Silicon Valley Bank: Gone in 36 Hours
This case examines factors contributing to the collapse of Silicon Valley Bank (SVB) in March 2023, an event as unpredicted as it was quick. SVB funded nearly half of all U.S. venture-backed startups and at the end of 2022 held $173 billion in deposits, largely... View Details
Keywords: Accounting Standards; Bank Runs; Financial Accounting; Financial Reporting; Social Media; Banks and Banking; Financing and Loans; Investment Portfolio; Interest Rates; Debt Securities; Risk and Uncertainty; Financial Statements; Risk Management; Failure; Fair Value Accounting; Credit; Corporate Governance; Financial Services Industry; Banking Industry; United States
Kang, Jung Koo, Krishna G. Palepu, Charles C.Y. Wang, and David Lane. "Silicon Valley Bank: Gone in 36 Hours." Harvard Business School Case 125-094, March 2025.