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Show Results For
- All HBS Web
(3,190)
- People (9)
- News (613)
- Research (1,956)
- Events (10)
- Multimedia (14)
- Faculty Publications (926)
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- June 2021 (Revised November 2021)
- Case
Asian Corporate Governance Association: Stemming a 'Race to the Bottom' by Stock Exchanges?
By: Charles C.Y. Wang and Billy Chan
This case describes the movement towards dual-class listings on Asian stock exchanges and the efforts of the Asian Corporate Governance Association (ACGA), a not-for-profit shareholder advocacy group, to discourage this trend. As a not-for-profit organization with no... View Details
Keywords: Corporate Governance; Governance Controls; Nonprofit Organizations; Stocks; Financial Markets; Financial Services Industry; Hong Kong; China; Asia
Wang, Charles C.Y., and Billy Chan. "Asian Corporate Governance Association: Stemming a 'Race to the Bottom' by Stock Exchanges?" Harvard Business School Case 121-073, June 2021. (Revised November 2021.)
- 2023
- Chapter
Market Design Under Weak Institutions
By: Benjamin N. Roth
As market designers begin to address economic inequality, we will necessarily also
begin to engage marginalized populations who have so far not been served well by the
markets in which they participate. We will need new market designs for participants who
may not... View Details
Roth, Benjamin N. "Market Design Under Weak Institutions." In More Equal by Design: Economic Design Responses to Inequality, edited by Scott Duke Kominers and Alex Teytelboym. Oxford University Press, forthcoming.
- May 2010
- Article
Aggregate Market Reaction to Earnings Announcements
By: William Cready and Umit G Gurun
This analysis identifies a distinct immediate announcement period negative relation between earnings announcement surprises and aggregate market returns. Such a relation implies that market participants use earnings information in forming expectations about expected... View Details
Cready, William, and Umit G Gurun. "Aggregate Market Reaction to Earnings Announcements." Journal of Accounting Research 48, no. 2 (May 2010): 289–334.
- 2012
- Article
Mutual Fund Trading Pressure: Firm-Level Stock Price Impact and Timing of SEOs
By: Mozaffar N. Khan, Leonid Kogan and George Serafeim
In tests of the equity market timing theory of external finance, the prior literature has used overvaluation identifiers such as high market-to-book and high prior returns that are likely correlated with other determinants of SEOs. We use price pressure resulting from... View Details
Keywords: Equity; Market Transactions; Valuation; Capital Structure; Market Timing; Mathematical Methods; Acquisition
Khan, Mozaffar N., Leonid Kogan, and George Serafeim. "Mutual Fund Trading Pressure: Firm-Level Stock Price Impact and Timing of SEOs." Journal of Finance 67, no. 4 (August 2012): 1371–1395.
- October 2007
- Article
The Art of Designing Markets
By: Alvin E. Roth
Traditionally, markets have been viewed as simply the confluence of supply and demand. But to function properly, they must be able to attract a sufficient number of buyers and sellers, induce participants to make their preferences clear, and overcome congestion by... View Details
Keywords: Market Design; Market Participation; Market Transactions; Information Technology; Internet and the Web
Roth, Alvin E. "The Art of Designing Markets." Harvard Business Review 85, no. 10 (October 2007): 118–126.
- 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
- 06 Dec 2021
- Research & Ideas
The Popular Stock Metric That Can Lead Investors Astray
stock market is overvalued and may experience some volatility as the economy continues to recover, Wang’s research suggests that investors may be relying too heavily on a formerly tried-and-true tool that... View Details
Keywords: by Rachel Layne
- July 2016
- Article
The Capital Market Consequences of Language Barriers in the Conference Calls of Non-U.S. Firms
By: Francois Brochet, Patricia L. Naranjo and Gwen Yu
We examine how language barriers affect the capital market reaction to information disclosures. Using transcripts from the English-language conference calls of non-U.S. firms, we find that the calls of firms in countries with greater language barriers are more likely... View Details
Keywords: Voluntary Disclosure; Capital Market Consequences; Non-plain English; Spoken Communication; Complexity; Capital Markets; Cross-Cultural and Cross-Border Issues
Brochet, Francois, Patricia L. Naranjo, and Gwen Yu. "The Capital Market Consequences of Language Barriers in the Conference Calls of Non-U.S. Firms." Accounting Review 91, no. 4 (July 2016): 1023–1049.
- July 2005
- Article
Price Improvement in Dealership Markets
By: Matthew Rhodes-Kropf
Price improvement refers to the practice whereby dealers order executions that improve on quoted prices. Why are these improvements given? Standard thinking is that competition causes dealers to give better prices to customers with less information. This paper... View Details
Keywords: Price; Markets; Competition; Information; Customers; Negotiation; Mission and Purpose; Practice; Theory; Performance Improvement; Bids and Bidding; Governing Rules, Regulations, and Reforms
Rhodes-Kropf, Matthew. "Price Improvement in Dealership Markets." Journal of Business 78, no. 4 (July 2005): 1137–1172.
- 19 Feb 2007
- Research & Ideas
Inexperienced Investors and Market Bubbles
systematic evidence. Having said that, there is some interesting experimental work, conducted during the 1980s, in which participants in a simulated financial market were asked to make investment decisions.... View Details
- Article
Stakeholder Marketing 2.0
As more companies pursue "open innovation" and adopt social networking and Web 2.0 tools, there is an emerging opportunity for them to connect with a diverse body of stakeholders and incorporate their interests and ideas. However, this also introduces many new... View Details
Chakravorti, Bhaskar. "Stakeholder Marketing 2.0." Journal of Public Policy & Marketing 29, no. 1 (Spring 2010): 97–102.
- 18 Mar 2009
- Research & Ideas
Marketing After the Recession
Editor's Note: Harvard Business School professor John Quelch writes a blog on marketing issues, called Marketing Know: How, for Harvard Business Online. It is reprinted on HBS Working Knowledge.... View Details
- August 2005 (Revised March 2024)
- Background Note
Spotting Institutional Voids in Emerging Markets
By: Tarun Khanna and Krishna Palepu
With the demise of communism, many countries in the world are striving to build their economic activity around markets and to participate in free trade arrangements, such as the World Trade Organization (WTO), European Union (EU), and North American Free Trade... View Details
Keywords: Emerging Markets
Khanna, Tarun, and Krishna Palepu. "Spotting Institutional Voids in Emerging Markets." Harvard Business School Background Note 106-014, August 2005. (Revised March 2024.)
- June 2001 (Revised March 2008)
- Exercise
Privatization of Anatolia National Telekom, The: General Instructions for All Simulation Participants
Anatolia National Telekom is a multiparty negotiation simulation patterned after the Turkish government's aborted attempt to privatize its state-owned telecommunications monopoly, Turk Telekom, in late 1997. Provides participants with an opportunity to identify and... View Details
"Privatization of Anatolia National Telekom, The: General Instructions for All Simulation Participants." Harvard Business School Exercise 801-431, June 2001. (Revised March 2008.)
- 2013
- Chapter
The Design of Online Advertising Markets
By: Benjamin Edelman
Because the market for online advertising is both new and fast-changing, participants experiment with all manner of variations. Should an advertiser's payment reflect the number of times an ad was shown, the number of times it was clicked, the number of sales that... View Details
Keywords: Misleading and Fraudulent Advertising; Online Advertising; Price; Market Design; Measurement and Metrics; Sales; Motivation and Incentives; Internet and the Web
Edelman, Benjamin. "The Design of Online Advertising Markets." Chap. 15 in The Handbook of Market Design, edited by Nir Vulkan, Alvin E. Roth, and Zvika Neeman. Oxford University Press, 2013.
- March 2008
- Article
What Have We Learned from Market Design?
By: Alvin E. Roth
This essay discusses some things we have learned about markets, in the process of designing marketplaces to fix market failures. To work well, marketplaces have to provide thickness, i.e. they need to attract a large enough proportion of the potential participants in... View Details
Keywords: Risk Management; Market Design; Market Participation; Market Transactions; Failure; Safety
Roth, Alvin E. "What Have We Learned from Market Design?" Economic Journal 118, no. 527 (March 2008): 285–310. (Hahn Lecture.)
- 11 Feb 2008
- Research & Ideas
Does Democracy Need a Marketing Manager?
Very little scholarship has been done around the subject of marketing and democracy. In fact, many believe that politics needs less marketing. Harvard Business School professor John A. Quelch and research associate Katherine E. Jocz see... View Details
Keywords: by Sean Silverthorne
- 07 Nov 2007
- Op-Ed
How Marketing Hype Hurt Boeing and Apple
Editor's Note: Harvard Business School professor John Quelch writes a blog on marketing issues, called Marketing Know: How, for Harvard Business Online. It is reprinted on HBS Working Knowledge. Last month,... View Details
- 2009
- Comment
Comment on “Free Flows, Limited Diversification: Openness and the Fall and Rise of Stock Market Correlations” (by D. Quaid and H-J. Voth)
By: Huw Pill
Pill, Huw. "Comment on “Free Flows, Limited Diversification: Openness and the Fall and Rise of Stock Market Correlations” (by D. Quaid and H-J. Voth)." NBER International Seminar on Macroeconomics 6 (2009): 40–47.
- 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.