Publications

01 Nov 2011
First Look

First Look: Nov. 1

into these market areas? Or should it go more aggressively to attack the coastal areas with its new 2000 cc model to be launched in late 2011? Purchase this case:http://cb.hbsp.harvard.edu/cb/product/612029-PDF-ENG Mike Mayo Takes on Citigroup View Details

Keywords: Sean Silverthorne

May 2004
Article

Disclosure Practices of Foreign Companies Interacting with U.S. Markets

By: Tarun Khanna, Krishna G. Palepu and Suraj Srinivasan

We analyze the disclosure practices of companies as a function of their interaction with the U.S. markets for a group of 794 firms from 24 countries in Asia-Pacific and Europe. Our analysis uses the Transparency and Disclosure scores developed recently by Standard &... View Details

Keywords: Management Practices and Processes; Markets; Investment; Size; Performance; Cross-Cultural and Cross-Border Issues; Corporate Governance; Corporate Disclosure; Trade; United States; Asia; Europe

November 2012
Case

Ahold versus Tesco—Analyzing Performance

By: Suraj Srinivasan and Penelope Rossano

The case relates to understanding and comparing the performance of two leading retail companies—Ahold and Tesco. The case introduces the tools of Dupont and Modified Dupont Decomposition. While performance as measured by return on equity has been similar for the two... View Details

Keywords: Performance Evaluation; Retail Industry

January 2018
Case

Ak Gıda: IPO or Strategic Sale

By: Suraj Srinivasan and Eren Kuzucu

In 2015, Yıldiz Holding, one of the world’s largest producer of confections, biscuits and crackers, was at the end of its divestiture process from Ak Gida, one of the leading dairy companies in Turkey. The company had adopted a dual track process, pursuing an initial... View Details

Keywords: Valuation; Private Sector; For-Profit Firms; Business Model; Business Strategy; Competitive Advantage; Growth and Development Strategy; Value Creation; Decision Making; Growth Management; Mergers and Acquisitions; Initial Public Offering; Business Conglomerates; Business Exit or Shutdown; Family Business; Joint Ventures; Food and Beverage Industry; Turkey

01 Dec 2023
News

A Continuum of Innovation

As senior associate dean and chair of the MBA Program, Matt Weinzierl has a running list of questions that he and Jana P. Kierstead, the executive director of MBA and Doctoral programs, always keep in mind. They range from the curricular (How can we ensure that the MBA... View Details

Keywords: Jennifer Gillespie

March 2013
Case

NovaStar Financial: A Short Seller's Battle

By: Suraj Srinivasan and Amy Kaser

The NovaStar case describes the challenges faced by short seller Marc Cohodes of hedge fund Rocker Partners as he tried to expose what he thought was widespread fraud in mortgage lender NovaStar Financial. The case is set in the time period from 2001 to 2007 and tracks... View Details

March 2020 (Revised September 2020)
Case

Board Director Dilemmas—Pushing Senior Management

By: David G. Fubini, Suraj Srinivasan and Amram Migdal

This case explores a new board director who wants more detail from the management team than his fellow directors are willing to press for. New board director Sam Pesca is frustrated that CFO Alex Marotta provides only a minimal two-page financial summary at board... View Details

Keywords: Board Of Directors; Corporate Governance; Governing and Advisory Boards; Management Teams

August 2017 (Revised November 2017)
Case

Accounting for Political Risk at AES

By: Gerardo Pérez Cavazos and Suraj Srinivasan

As a global energy generating company, AES frequently faces challenges from political changes and instability. This is exacerbated by the fact that in many instances AES' primary customer is the government, which is also in charge of law-making. For example, AES'... View Details

Keywords: Political Risk; Asset Impairment; Risk Factors; Fair Value; Fair Value Accounting; Financial Reporting; Financial Statements; Energy Industry; Bulgaria; Dominican Republic; United States; Venezuela

October 2020 (Revised November 2020)
Case

Digging for Gold: Paulson & Co.'s Activism in the Gold Sector

By: Suraj Srinivasan and Jonah S. Goldberg

The case describes the efforts of hedge fund Paulson & Co to influence corporate governance and improve performance in the gold industry. In an innovative move, the hedge fund led the creation of the Shareholder Gold Council, a consortium of large investors in gold... View Details

Keywords: Board Of Directors; Hedge Funds; Shareholder Activism; Gold; Corporate Governance; Governing and Advisory Boards; Investment Funds; Investment Activism; Performance Improvement; Corporate Accountability; Mining Industry; Canada; United States

06 Nov 2012
First Look

First Look: November 6

Which U.S. Market Interactions Affect CEO Pay? Evidence from UK Companies Authors: Joseph Gerakos, Joseph Piotroski, and Suraj Srinivasan Publication: Management Science... View Details

Keywords: Sean Silverthorne

Article

SOX after Ten Years: A Multidisciplinary Review

By: Suraj Srinivasan and John C. Coates IV

We review and assess research findings from 120+ papers in accounting, finance, and law to evaluate the impact of the Sarbanes-Oxley Act. We describe significant developments in how the Act was implemented and find that despite severe criticism, the Act and... View Details

Keywords: Financial Reporting; Laws and Statutes; United States

2014
Working Paper

SOX after Ten Years: A Multidisciplinary Review

By: John C. Coates and Suraj Srinivasan

We review and assess research findings from 120 papers in accounting, finance, and law to evaluate the impact of the Sarbanes-Oxley Act. We describe significant developments in how the Act was implemented and find that despite severe criticism, the Act and institutions... View Details

Keywords: Laws and Statutes

November 2017 (Revised June 2019)
Case

Measuring True Value at Ambuja Cement

By: V. Kasturi Rangan, Suraj Srinivasan and Namrata Arora

The case discusses the measurement of social and environmental impact at Ambuja Cements, one of India’s leading cement companies. Ambuja is a leader in CSR activities and is attempting to quantify its impact, both positive and negative, using the “True Value” framework... View Details

Keywords: Corporate Social Responsibility and Impact; Environmental Sustainability; Value; Measurement and Metrics; Framework; Cost vs Benefits

January 2013 (Revised August 2013)
Case

First Solar: CFRA's Accounting Quality Concerns

By: Suraj Srinivasan and Ian McKown Cornell

The case relates to accounting quality analysis conducted by the leading research firm Center for Financial Research and Analysis (CFRA) on companies in the solar industry with a focus on First Solar Inc. In 2009, CFRA was concerned that First Solar, like much of the... View Details

Keywords: Accounting; Accounting Quality; Financial Accounting; Financial Statement Analysis; Accounting Fraud; Accounting Red Flags; Accounting Scandal; Risk and Uncertainty; Quality; Earnings Management; Valuation; Crime and Corruption; Financial Statements; Energy Sources; Green Technology Industry; Accounting Industry; Energy Industry

Article

Signaling Firm Performance Through Financial Statement Presentation: An Analysis Using Special Items

By: Edward J. Riedl and Suraj Srinivasan

This paper investigates whether managers' presentation of special items within the financial statements reflects economic performance or opportunism. Specifically, we assess special items presented as a separate line item on the income statement (income statement... View Details

Keywords: Managerial Roles; Financial Statements; Economics; Performance; Research; Opportunities; Business Earnings; Motivation and Incentives