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  • 02 Oct 2018
  • First Look

New Research and Ideas, October 2, 2018

least in part due to managers' reputational or status concerns. The ROE increase was predominantly driven by improvements in margins, which was partially driven by cutting R&D intensity—a potentially unintended consequence. Our findings suggest that indexes can... View Details
Keywords: Dina Gerdeman
  • 19 Jul 2016
  • First Look

July 19, 2016

proposals on material versus immaterial issues affect firms’ subsequent ESG performance and market valuation. We find that 58% of the shareholder proposals in our sample are filed on immaterial issues. We document that filing shareholder... View Details
Keywords: Sean Silverthorne
  • 15 Apr 2014
  • First Look

First Look: April 15

between firms' CSR ratings and analysts' forecast errors, indicating that learning is unlikely to account for the observed shifts in recommendations. Publisher's link: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1507874 August 2013... View Details
Keywords: Sean Silverthorne
  • 15 Apr 2008
  • First Look

First Look: April 15, 2008

specializing in building and managing prisons. Students must assess the firm's strategy and risks, evaluate key financial reports, derive forecasts of future performance, and use these forecasts to value the... View Details
Keywords: Martha Lagace
  • 22 Apr 2020
  • Research Event

How Investors Are Sizing Up Climate Change’s Risks—and Opportunities

Until a few years ago, climate change’s potential impact seemed abstract for many investors. Now, as sea levels rise, hurricanes intensify, and droughts threaten food supplies, many investors are confronting its financial realities. But it’s not a simple calculation.... View Details
Keywords: by Danielle Kost; Financial Services
  • 28 Jun 2011
  • First Look

First Look: June 28

externally hired CEOs increase the likelihood of providing guidance. Complicated Firms Authors:Lauren Cohen and Dong Lou Publication:Journal of Financial Economics (forthcoming) Abstract We exploit a novel setting in which the same piece of information View Details
Keywords: Sean Silverthorne
  • 15 Jul 2008
  • First Look

First Look: July 15, 2008

http://papers.nber.org/papers/w14087 Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors Author:Sharon Katz Abstract This study explores how firms' ownership structures affect their earnings quality and long-term... View Details
Keywords: Martha Lagace
  • Web

HBS - Financials | From the Chief Financial Officer

strengthen the community, and charted an aspirational course for the future, demonstrating the resilience of the School’s faculty, staff, and students and the strength of the HBS economic model. Total revenues increased to a record level in fiscal 2022, exceeding our... View Details
  • 13 Sep 2011
  • First Look

First Look: September 13

Profitability Around the World Authors:Paul M. Healy, George Serafeim, Suraj Srinivasan, and Gwen Yu Abstract We examine how cross-country differences in product, capital, labor market competition, and government efficiency affect the... View Details
Keywords: Sean Silverthorne
  • 20 Feb 2007
  • First Look

First Look: February 20, 2007

wondered if the regulatory events might affect Goodyear's ability to maintain its world leadership in the tire industry. Purchase this case: http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=707494 J.R.D. Tata Harvard... View Details
Keywords: Martha Lagace
  • 19 Feb 2007
  • Research & Ideas

Inexperienced Investors and Market Bubbles

managers over-invested in technology stocks. Why are the less-experienced managers drawn to technology? A: Our hypothesis is that younger managers, and inexperienced investors more generally, are more likely to extrapolate past price movements when forming their View Details
Keywords: by Sean Silverthorne; Financial Services
  • 10 Jan 2012
  • First Look

First Look: January 10

period 2002-2009 by the Brazilian National Development Bank (BNDES), one of the largest development banks in the world. In our fixed effect regressions, we find that BNDES' allocations do not seem to affect firm-level operational... View Details
Keywords: Sean Silverthorne
  • 15 Nov 2011
  • First Look

First Look: November 15

Analyst Recommendation and Earnings Forecast Anomaly Author:George Serafeim Publication:Chap. 3 in The Handbook of Equity Market Anomalies: Translating Market Inefficiencies into Effective Investment Strategies, 63-91. John Wiley &... View Details
Keywords: Sean Silverthorne
  • 02 Mar 2015
  • Research & Ideas

‘Retail Revolution’ Excerpt: The Scale of the Ecommerce Threat

professional and customer reviews, and ratings systems” Understanding how online retailers can cause these same-store sales and gross margin declines by affecting the operating metrics of a retail store is fundamental to understanding the... View Details
Keywords: Re: Rajiv Lal; Retail
  • 01 Dec 2013
  • News

Faster, Bigger, Stronger: Supersizing the NFL

trauma—on players' long-term health, a complex issue that could affect the league's growth. In other words, the league has to play both strong offense and stellar defense to achieve its $1 billion-a-year growth-rate goal. But fans can... View Details
Keywords: Finance; Management; Performing Arts, Spectator Sports, and Related Industries; Arts, Entertainment
  • 11 Mar 2008
  • First Look

First Look: March 11, 2008

at Columbia University, which they had covered together, as all were alumni. They were commiserating about having to submit revised forecasts to their division heads by the end of the week. Alec Hastings, head of Global Institutional... View Details
Keywords: Martha Lagace
  • 01 Sep 2018
  • News

After the Fall

investments, enabling them to forecast higher returns and discount reported liabilities at a higher rate, making the funds appear less under-funded than they were. “The cycles of optimism and pessimism in financial markets will always... View Details
Keywords: Jennifer Myers; illustration by Dan Bejar; Monetary Authorities-Central Bank; Finance; Securities, Commodities, and Other Financial Investments; Finance; Executive, Legislative, and Other General Government Support; Government
  • 19 Sep 2017
  • First Look

First Look at New Research and Ideas, September 19

pharmaceutical drugs, such as those initiated by Turing Pharmaceuticals under CEO Martin Shkreli, had recently brought media attention to this issue. Baum believed it would be relatively easy for Imprimis to create compounded versions of many of the View Details
Keywords: Sean Silverthorne
  • Person Page

Media

Media

This lists media reports covering my firm dollarDEX Investments or me (or my colleagues), or columns written by me (or my colleagues). There are all... View Details

  • 08 Sep 2015
  • First Look

September 8, 2015

demonstrates why some places, times, and industries should be associated with a greater degree of experimentation by investors. Investors respond to financing risk—a forecast of limited future funding—by modifying their focus to finance... View Details
Keywords: Carmen Nobel