Publications

16 May 2017
First Look

First Look at New Ideas and Research, May 16

the adoption of assurance or specific guidelines, firms seek the qualitative properties of comparability and credibility. Instrumental variables analysis suggests that increases in sustainability disclosure driven by the regulation are... View Details

Keywords: Re: Multiple Faculty

27 Sep 2010
Research & Ideas

Customer Experts Lose Influence When Teams are Pressured

CFOs, and heads of audit committees. Their insights were instrumental in helping me unearth the performance implications of the processes I had discovered through surveys and case studies. Q: You conducted this research in accounting and... View Details

Keywords: by Sarah Jane Gilbert

14 Jul 2008
Research & Ideas

HBS Cases: Reforming New Orleans Schools After Katrina

are building an organization that incubates new charter schools and provides a suite of services for independent charters across the city. They have been instrumental in connecting national organizations like Teach For America and New... View Details

Keywords: by Sarah Jane Gilbert; Education

01 Mar 2011
First Look

First Look: March 1

direct-selling cosmetics company involved in emerging markets exhibits significant foreign exchange risk exposure and profitability swings in the wake of the 2008 financial crisis. Students must review the company's use of derivative View Details

Keywords: Sean Silverthorne

21 Nov 2006
First Look

First Look: November 21, 2006

To establish causality, we instrument for downloads using data on international school holidays. Downloads have an effect on sales which is statistically indistinguishable from zero. Our estimates are inconsistent with claims that file... View Details

Keywords: Sean Silverthorne

01 Dec 1998
News

Africa's Way

Hofmeyr (43rd PMD), and Peter G. Wrighton (64th AMP) - were key members of the Consultative Business Movement, formed by the business community in the 1980s to facilitate the transition process. "Those individuals were instrumental in... View Details

Keywords: Susan Young and Garry Emmons

February 2018 (Revised August 2018)
Case

Blue Haven Initiative: The PEGAfrica Investment

By: Vikram S. Gandhi, Caitlin Reimers Brumme and Amram Migdal

This case examines Blue Haven Initiative (BHI), an impact investing fund and family office, and one of its investments, PEGAfrica (PEG). BHI founder Liesel Pritzker Simmons’ motivations for using her family wealth to start a family office focused on impact investing,... View Details

Keywords: Impact Investing; Family Office; Development; International Development; International Development Investing; Development Fund; Sustainability; Solar Energy; Solar; Pay As You Go; PAYG; MFI; Social Venture; Business Ventures; Acquisition; Business Growth and Maturation; Business Startups; Economics; Development Economics; Energy; Energy Conservation; Energy Sources; Renewable Energy; Social Entrepreneurship; Finance; Assets; Asset Pricing; Capital; Capital Budgeting; Capital Structure; Venture Capital; Cash; Cash Flow; Currency; Currency Exchange Rate; Equity; Private Equity; Financial Instruments; Debt Securities; Stock Shares; Financing and Loans; Microfinance; International Finance; Investment; Investment Return; Investment Activism; Investment Funds; Investment Portfolio; Price; Geography; Geographic Location; Emerging Markets; Ownership; Ownership Stake; Private Ownership; Social Enterprise; Value; Valuation; Value Creation; Energy Industry; Financial Services Industry; Green Technology Industry; Africa; United States

01 Jun 2015
News

Higher Ground

there was Prieto, telling them he wasn’t going anywhere. He would help them rebuild. When the orchestra members did start to return, most of the city was still under water. Reeks, who had come to New Orleans just before Katrina hit to pick up his cat and a few View Details

Keywords: Dan Morrell; Amusement, Gambling, and Recreation Industries; Arts, Entertainment; Health, Social Assistance

September 2011
Article

What Drives Sell-Side Analyst Compensation at High-Status Investment Banks?

By: Boris Groysberg, Paul M. Healy and David A. Maber

We use proprietary data from a major investment bank to investigate factors associated with analysts' annual compensation. We find compensation to be positively related to "All-Star" recognition, investment-banking contributions, the size of analysts' portfolios, and... View Details

Keywords: Investment Banking; Research; Compensation and Benefits; Investment Portfolio; Forecasting and Prediction; Resource Allocation; Status and Position; Business Earnings; Quality; Revenue; Stocks; Voting

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October 2021 (Revised February 2022)
Case

Green Hydrogen in Chile

By: Tarun Khanna, Jenyfeer Martínez Buitrago and Mariana Cal

In 2020, the Chilean government wants to promote green hydrogen, a technology with high potential to help mitigate climate change. President Sebastián Piñera, aware of the country's advantages to produce green hydrogen competitively, asks Energy Minister Juan Carlos... View Details

Keywords: COVID-19 Pandemic; Decision Making; Alternative Energy; Renewable Energy; Climate Change; Environmental Sustainability; Green Technology; Financial Instruments; Energy Policy; Government Administration; Strategy; Government and Politics; Social Issues; Energy Industry; Latin America; South America; Chile

June 2025
Case

TfL Pension Fund and the 2022 Gilt Market Crisis

By: Emil N. Siriwardane, Vincent Dessain, Emer Moloney and Carlota Moniz

On September 27, 2022, Padmesh Shukla, CIO of the Transport for London (TfL) Pension Fund, was keeping a careful eye on the turmoil in the U.K. sovereign bond (or gilt) market. When the new government announced the largest tax cuts the U.K. had seen in half a century,... View Details

Article

Market Reaction to and Valuation of IFRS Reconciliation Adjustments: First Evidence from the UK

By: Joanne Horton and George Serafeim

We investigate the market reaction to, and the value-relevance of, information contained in the mandatory transitional documents required by International Financial Reporting Standards (IFRS) 1 (2005). We find significant negative abnormal returns for firms reporting... View Details

Keywords: Valuation; Markets; Information; International Finance; Earnings Management; Stock Shares; Taxation; Goodwill Accounting; Price; Financial Reporting; Standards; Corporate Disclosure; United Kingdom

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March 2008 (Revised April 2009)
Case

Eliot Spitzer: Pushing Wall Street to Reform

By: Rawi Abdelal, Rafael Di Tella and Jonathan Schlefer

New York State Attorney General Eliot Spitzer faced a decision about how to stop wrongdoing committed by major Wall Street firms during the Internet boom. The equities analysts of Merrill Lynch and other Wall Street firms were charged with objectively advising retail... View Details

Keywords: Crime and Corruption; Decisions; Financial Institutions; Stocks; Governing Rules, Regulations, and Reforms; Laws and Statutes; Lawsuits and Litigation; Conflict of Interests; Internet; Financial Services Industry; United States