Publications

Find at Harvard

2002
Other Unpublished Work

Market Liquidity as a Sentiment Indicator

By: Malcolm Baker and Jeremy Stein

We build a model that helps to explain why increases in liquidity—such as lower bid–ask spreads, a lower price impact of trade, or higher turnover—predict lower subsequent returns in both firm-level and aggregate data. The model features a class of irrational... View Details

Keywords: Price; Financial Liquidity; Trade; Valuation; Markets; Forecasting and Prediction; Equity; Stock Shares; Investment Return

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20 Jun 2017
First Look

First Look at New Research and Ideas, June 20

instrumental variables approach exploiting an historical shift in innovation activity during World War II to show that this relationship could be causal. Finally, we document a U-shaped relationship between top income inequality and... View Details

Keywords: Sean Silverthorne

21 Jul 2014
Research & Ideas

Is a Gap in Small-Business Credit Holding Back the American Economy?

the nation's private sector workforce—about 120 million people—but since 1995 they have created approximately two-thirds of the net new jobs in our country. They are also instrumental in driving the innovation that provides a competitive... View Details

Keywords: by Karen Mills; Manufacturing

12 Mar 2007
Research & Ideas

The New Real Estate

percent for the market as a whole. New Capital Market Instruments The press and Wall Street are focused on the 24 countries which now have REITs and the 28 countries which are expected to have REITs over the next 18 months. But the new,... View Details

Keywords: by Arthur I. Segel; Construction; Real Estate

10 Oct 2000
Research & Ideas

Cross-Sector Collaboration: Lessons from the International Trachoma Initiative

and Ms. Luff were instrumental in building support for this collaboration within their respective organizations. It is important to note that Austin's research revealed that top leadership support for the business-nonprofit collaborations... View Details

Keywords: by Diana Barrett, James Austin & Sheila McCarthy

01 Sep 2021
Blog Post

Investing in Career Switchers - Cyril Straughn-Turner & Invesco US

Hancock (MBA 2021). Straughn-Turner also worked closely with HBS Career Coach and Corporate Relations Director, Jonathan Shepherd, to access the resources, support, and education he needed. In addition, the Harvard Alumni Real Estate Board was View Details

Keywords: Real Estate

01 Oct 2002
News

Faculty Research Symposium

that offer them. Hall's research is focused on the optimal design and incentive effects of compensation plans built around equity-based pay and especially stock options, the instruments most responsible for the huge numbers associated... View Details

November 2010
Supplement

Lessons Learned? Brooksley Born & the OTC Derivatives Market (B)

By: Clayton S. Rose and David Lane

This (B) case provides the 2009 reflections of former SEC Chairman Arthur Levitt on CFTC Chairman Brooksley Born's 1998 efforts to consider regulating the OTC derivative market. It also provides a summary of the aspects of the 2010 Dodd-Frank Act that regulate these... View Details

Keywords: Financial Crisis; Credit Derivatives and Swaps; Governing Rules, Regulations, and Reforms; Policy; Government Legislation; Business and Government Relations; Financial Services Industry; Public Administration Industry; District of Columbia

Web

ARD - Georges F. Doriot : Educating Leaders, Building Companies, Baker Library, Harvard Business School

proposals but invested in only a small percentage of them. The firm's prized portfolio companies included Circo Products (automobile tools); High Voltage Engineering Corp (high-powered generators and nuclear particle accelerators); Tracerlab, Inc. (analytical View Details

December 2000
Case

Stock Options at Virtua.Net

By: Brian J. Hall, Noam T. Wasserman and Carleen Madigan

Describes issues facing three young founders of a high-tech start-up in Silicon Valley, including hiring an experienced CEO and negotiating with a potential VC investor. Focuses on the incentive and compensation aspects of negotiating with job candidates (e.g., what... View Details

Keywords: Venture Capital; Stock Options; Executive Compensation; Employee Stock Ownership Plan; Negotiation

July 2001 (Revised March 2002)
Case

Nasdaq Stock Market, Inc., The

By: Andre F. Perold and Austin K Scee

NASDAQ's mission "to facilitate capital formation" is threatened by the emergence of Electronic Communication Networks, which are not as heavily regulated by the SEC. This case reviews the development of NASDAQ and its evolution from a loose network of broker-dealers... View Details

Keywords: Capital Markets; Stocks; Financial Markets; Governing Rules, Regulations, and Reforms; Innovation Strategy; Performance Efficiency; Perspective

July 2024
Case

Jacqueline Cook at Vendasta: Debating an IPO

By: Reza Satchu, Tom Quinn and Andrew Kosc

In May 2021, after a surge in demand for digital services that prompted high valuations for startups across the Canadian tech sector, Saskatchewan-based Vendasta entered the final stages of the initial public offering (IPO) process. COO Jacqueline Cook had invested her... View Details

August 1988 (Revised July 1996)
Case

Colt Industries

Colt Industries is a conglomerate that is considering undertaking a leveraged recapitalization. The deal would involve a large one-time dividend to stockholders, which would be financed by over $1 billion in new debt. Unlike in an leveraged buyout, however, public... View Details

Keywords: Business Conglomerates; Equity; Economic Growth; Ownership Stake; Stocks; Borrowing and Debt; Employee Stock Ownership Plan; Financial Strategy

March 2010
Article

Information Content of Insider Trades before and after the Sarbanes-Oxley Act

By: Francois Brochet

This paper examines the information content of Form 4 filings under the more timely disclosure regime introduced by Section 403 of the Sarbanes-Oxley Act of 2002 (SOX). Abnormal returns and trading volumes around filings of insider stock purchases are significantly... View Details

Keywords: Stocks; Corporate Disclosure; Governing Rules, Regulations, and Reforms; Government Legislation; Lawsuits and Litigation; Market Transactions; Volume; Sales