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  • Web

Finance - Faculty & Research

some investors overreact to past fundamentals and others extrapolate past returns, can explain three key features of financial markets: (i) the belief dynamics and heterogeneity observed in surveys, (ii) excess stock View Details
  • 16 Sep 2014
  • First Look

First Look: September 16

lower than expected revenues and earnings for the second quarter of 2012. In response to the announcement, its stock price fell 29% (its stock price had fallen from $77 to $11 in the past 18 months). The... View Details
Keywords: Sean Silverthorne
  • Article

Optimal Value and Growth Tilts in Long-Horizon Portfolios

By: Jakub W. Jurek and Luis M. Viceira
We develop an analytical solution to the dynamic portfolio choice problem of an investor with power utility defined over wealth at a finite horizon, who faces a time-varying investment opportunity set, parameterized using a flexible vector autoregression. We apply this... View Details
Keywords: Decision Choices and Conditions; Private Equity; Investment; Investment Portfolio; Asset Pricing; Value
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  • 07 Feb 2022
  • Research & Ideas

Digital Transformation: A New Roadmap for Success

end-to-end customer experiences in an unforgiving dynamic economy. As one executive put it, in a hyperconnected world, competitors can "pop up from anywhere and everywhere." With rising expectations of customers and other stakeholders, no... View Details
Keywords: by Linda A. Hill, Ann Le Cam, Sunand Menon, and Emily Tedards
  • 16 Dec 2008
  • First Look

First Look: December 16, 2008

including terms of the bids. After winning the auction, Coke's stock price fell dramatically. Coke's Board then refused to approve the deal and withdrew. Quaker then approached Pepsi, the losing bidder, and asked them to submit another... View Details
Keywords: Sean Silverthorne
  • 24 Jan 2017
  • First Look

First Look at New Research: January 24, 2017

January 2017 Review of Financial Studies Being Surprised by the Unsurprising: Earnings Seasonality and Stock Returns By: Chang, Tom Y., Samuel M. Hartzmark, David H. Solomon, and Eugene F. Soltes Abstract—We present evidence consistent with markets failing to properly... View Details
Keywords: Sean Silverthorne
  • 27 Jan 2015
  • First Look

First Look: January 27

transactions and vice versa. This paper estimates the effect of competition and service quality on mobile money demand. In this setting, service quality consists of service reliability (lower stockout and system downtime rates), pricing... View Details
Keywords: Sean Silverthorne
  • 17 May 2011
  • First Look

First Look: May 17

and Matthew C. Weinzierl Abstract This paper examines the optimal response of monetary and fiscal policy to a decline in aggregate demand. The theoretical framework is a two-period general equilibrium model in which prices are sticky in... View Details
Keywords: Sean Silverthorne
  • 03 Feb 2009
  • First Look

First Look: February 3, 2009

including cashews, sesame, cocoa, and coffee. In mid-October 2008, Olam's stock price declined to $1 a share from a high of $3.71 in early 2007 as part of the global economic crisis. Verghese had to decide whether to change the firm's... View Details
Keywords: Martha Lagace
  • Web

Business & Environment - Faculty & Research

June 2025 | Case | Faculty Research In 2024, Maxime Aucoin, Executive Vice President and CFO of Hydro-Quebec, faced a series of compounding challenges as the utility confronted rapidly rising electricity demand, public pricing... View Details
  • 23 Feb 2011
  • First Look

First Look: Feb. 23

examine a class of dynamic decision-making processes that involve endogenous commitment. Our analysis is relevant to group decision-making settings as well as to hierarchical decision-making settings in which, for example, subordinates... View Details
Keywords: Sean Silverthorne
  • 24 Feb 2009
  • First Look

First Look: February 24, 2009

  Working PapersLearn-how to Improve Collaboration and Performance Authors:Ingrid M. Nembhard, Anita L. Tucker, Richard M.J. Bohmer, Joseph H. Carpenter, and Jeffrey D. Horbar Abstract Organizational learning, a prerequisite for high performance in View Details
Keywords: Martha Lagace
  • 10 Nov 2015
  • First Look

November 10, 2015

were realized. What we label the CEO-specific Q and past return explains equity issuance, but it does not explain debt issuance, investment, or profitability. Two discontinuity analyses show that the specific share price that the current... View Details
Keywords: Sean Silverthorne
  • 12 Oct 2021
  • Research & Ideas

What Actually Draws Sports Fans to Games? It's Not Star Athletes.

governing player drafts, free agency, revenue sharing, salary caps, and even ticket prices. Tickets must be sold at face value under league rules, eliminating the unauthorized sales of tickets at higher prices by third parties. Other... View Details
Keywords: by Rachel Layne; Sports
  • 07 Aug 2012
  • First Look

First Look: August 7

levels of aid. We call these joint phenomena the political transfer problem and argue that the largest windfall of the 20th century, the period from 1973 to 1985 during which oil prices were at all-time highs, produced long-run political... View Details
Keywords: Sean Silverthorne
  • 01 Dec 2023
  • News

Thinking Ahead

As we wind down 2023, there’s talk everywhere of generative AI and how it will fundamentally alter the world as we know it; but how does that translate for your corner of the business world? Is TikTok something you need to take seriously? (Is it time to dance?) We... View Details
Keywords: Julia Hanna; Illustrations by Chris Gash; News, Library, Internet, and Other Services; Information
  • 24 Sep 2013
  • First Look

First Look: September 24

may benefit from limited developer access. Second, an open platform may lead to higher investment than a proprietary platform. Third, opening one side of a proprietary platform may lower incentives to invest in platform quality. Fourth, the structure of access View Details
Keywords: Sean Silverthorne
  • 07 Jul 2019
  • HBS Case

Walmart's Workforce of the Future

to $10 in 2016 (it hit $11 per hour in early 2018). Yet in 2015, announcement of a wage increase resulted in a share price drop the following day of 10 percent, on news that the increase would cut earnings per share by 6 to 12 percent in... View Details
Keywords: by Julia Hanna; Retail
  • Web

2023 Reunion Presentations - Alumni

measures reduce US dependence on supply chains linked to China? And what should we do with prices of imports from Vietnam and Mexico on the rise? Paper on Global Supply Chain Great Reallocation CASE STUDY Acquiring and Engaging Talent for... View Details
  • 01 Oct 2012
  • Research & Ideas

Better by the Bundle?

research that culminated in their paper The Dynamic Effects of Bundling as a Product Strategy. Kumar and Derdenger studied the handheld video game market between 2001 and 2005, specifically Nintendo's Game Boy Advance and Game Boy Advance... View Details
Keywords: by Dina Gerdeman