Publications

06 Jun 2017
First Look

First Look at New Research and Ideas: June 6, 2017

question using a unique dataset of the gender of venture capital partners’ children. First, we find strong evidence that parenting more daughters leads to an increased propensity to hire female partners by venture capital firms. Second, using an View Details

Keywords: Sean Silverthorne

04 Mar 2014
First Look

First Look: March 4

act like debt during "normal times" but would convert to create capital should the bank hit a "triggering event." How should these instruments be designed? Can they be made attractive for both the bank and for... View Details

Keywords: Sean Silverthorne

01 Dec 2013
News

Faster, Bigger, Stronger: Supersizing the NFL

this century, the Patriots are said by Forbes magazine to be worth $1.8 billion. Robert Kraft, whom Sports Illustrated recently declared is the second-most powerful person in the NFL after the commissioner, has been instrumental to the... View Details

Keywords: Finance; Management; Performing Arts, Spectator Sports, and Related Industries; Arts, Entertainment

2022
Article

Regulatory Treatment of Changes in Fair Value and the Composition of Banks' Investment Portfolios

By: Michael Iselin, Jung Koo Kang and Joshua Madsen

In their implementation of Basel III, U.S. bank regulators are again including changes in the fair value of available-for-sale (AFS) debt securities in Tier 1 capital, but only for the largest U.S. banks. This paper investigates a potential impact of expanding this... View Details

Keywords: Fair Value Accounting; SFAS 115; Basel III; Governing Rules, Regulations, and Reforms; Banks and Banking; Debt Securities; Credit; Risk and Uncertainty; Investment Portfolio; Decision Making; Banking Industry; United States

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2007
Chapter

Behavioral Corporate Finance: A Survey

By: Malcolm Baker, Richard Ruback and Jeffrey Wurgler

Research in behavioral corporate finance takes two distinct approaches. The first emphasizes that investors are less than fully rational. It views managerial financing and investment decisions as rational responses to securities market mispricing. The second approach... View Details

Keywords: Decisions; Prejudice and Bias; Debt Securities; Financial Management; Price; Theory; Investment; Problems and Challenges; Behavioral Finance; Corporate Finance

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07 Jun 2016
First Look

June 7, 2016

number of topics; (ii) negative sentiment inherent in a review has a larger downward impact than corresponding positive sentiment; and (iii) negative reviews contain a larger variation in sentiment on average than positive reviews. These insights can be View Details

Keywords: Sean Silverthorne

23 Apr 2001
Research & Ideas

Brand Power from Wedgwood to Dell: Part Two

and early 80s. Her son, Leonard Lauder, who has been instrumental in building and leading the company for more than 30 years, is the current chairman. So in making the transition from the garage to company headquarters, one very important... View Details

Keywords: by Martha Lagace

13 Jul 2020
News

The First Five Years: Meaghan Fitzgerald (MBA 2016)

and the case of the Challenger disaster. The first one, because we’re still working on finding the ‘job’ that VR does for the majority of people today, and this framework has been instrumental in framing our development and messaging for... View Details

02 Sep 2014
First Look

First Look: September 2

of the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) standard. Using matching methods, panel data, and instrumental variables, we find that government procurement rules produce spillover effects that... View Details

Keywords: Sean Silverthorne

26 Nov 2013
First Look

First Look: November 26

identification. The latter instruments are developed by combining panel variation on the development of new technologies across U.S. cities with historical settlement patterns for migrants from countries. The View Details

Keywords: Sean Silverthorne

March 2001 (Revised November 2001)
Case

Merrill Lynch HOLDRS

By: Andre F. Perold and Simon E. Brown

Exchange-traded funds (ETFs) and HOLDRS (Holding Company Depositary Receipts) represent recent and highly successful capital market innovations. HOLDRS closely approximates a buy-and-hold strategy, and Merrill Lynch believes the product has significantly lower taxes... View Details

Keywords: Capital Markets; Cost; Stocks; Financial Strategy; Investment Funds; Taxation; Innovation and Invention; Product; Success; Expansion

26 Sep 2017
First Look

First Look at New Research and Ideas, September 26, 2017

through a new survey instrument that allows us to codify CEOs’ diaries in a detailed and comparable fashion and to build a bottom-up measure of CEO labor supply. The comparison of 1,114 family and professional CEOs reveals that family... View Details

Keywords: Sean Silverthorne

30 Jun 2009
First Look

First Look: June 30

provided a one-time tax holiday for the repatriation of foreign earnings by U.S. multinationals. The analysis controls for endogeneity and omitted variable bias by using instruments that identify the firms likely to receive the largest... View Details

Keywords: Martha Lagace

September 2006 (Revised January 2008)
Case

Providian Financial Corporation

By: John R. Wells

On October 3, 2005, Washington Mutual acquired Providian Financial Corporation, the ninth-largest credit card issuer in the U.S., for $6.5 billion. At the time, Providian had approximately 10 million customer relationships and a balance of $18.6 billion. For some... View Details

Keywords: Mergers and Acquisitions; Restructuring; Customer Relationship Management; Insolvency and Bankruptcy; Credit Cards; Organizational Change and Adaptation; Financial Services Industry; United States

24 Dec 2013
First Look

First Look: December 24

accounts for more than a quarter of the overall increase in labor supply to the private sector during 1986-2005. Using the reform to instrument for private-sector labor supply, we find that private-sector labor demand is very elastic. We... View Details

Keywords: Carmen Nobel

18 Sep 2013
Research & Ideas

Excerpt: Manufacturing Morals

School alumnus helped secure newly consecrated bells both for the School and for Harvard College. (The acquisition and consecration of the new bells occurred upon the return of the original bells to Russia.) This time around, the School was View Details

Keywords: Education

02 Feb 2010
First Look

First Look: Feb. 2

level thanks to the extreme form of fiscal decentralization that the Brazilian government adopted in the Constitution of 1891, which gave states the sole right to tax exports. We also use indices of export prices for each state as View Details

Keywords: Martha Lagace

February 2025
Case

Ingersoll Rand: Broadening Employee Ownership

By: Ethan Rouen and Jenyfeer Martinez Buitrago

Set in 2024, this case examines how Ingersoll Rand—a global leader in air, liquid, and gas handling technologies—approached broadening employee ownership. The company granted restricted stock units (RSUs) to all employees on their one-year anniversary, reinforcing a... View Details

Keywords: Stock Shares; Employee Stock Ownership Plan; Retention; Employee Ownership; Mergers and Acquisitions; Organizational Culture; Expansion; Africa; Asia; Europe; Latin America; Middle East; North and Central America