Publications

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May 2013
Article

The Stock Selection and Performance of Buy-Side Analysts

By: Boris Groysberg, Paul Healy, George Serafeim and Devin Shanthikumar

Prior research on equity analysts focuses almost exclusively on those employed by sell-side investment banks and brokerage houses. Yet investment firms undertake their own buy-side research and their analysts face different stock selection and recommendation incentives... View Details

Keywords: Buy-side Analysts; Sell-side Analysts; Stock Recommendations; Recommendation Optimism; Recommendation Performance; Investment Recommendations; Conflicts Of Interest; Financial Markets; Financial Institutions; Financial Services Industry; United States

September 2022
Article

Human Versus Machine: A Comparison of Robo-Analyst and Traditional Research Analyst Investment Recommendations

By: Braiden Coleman, Kenneth J. Merkley and Joseph Pacelli

We provide the first comprehensive analysis of the properties of investment recommendations generated by “Robo-Analysts,” which are human analyst-assisted computer programs conducting automated research analysis. Our results indicate that Robo-Analyst recommendations... View Details

Keywords: Fintech; Analysts; Robo-analysts; Investment Recommendations; Investment; Information Technology; Performance

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23 Apr 2008
Op-Ed

The Gap in the U.S. Treasury Recommendations

The U.S. Treasury recommendations for restructuring the nation's system of financial regulation are an important start in the process of strengthening the United States financial system. The proposal is to be commended for some of its... View Details

Keywords: by Dwight Crane; Banking; Construction; Real Estate; Financial Services

May 2014
Case

WeaveTech: High Performance Change

By: Michael Beer and Paul Swiercz

WeaveTech, formerly Johnson-Ware, is a clothing company that produces jackets, coats, overalls, coveralls, and fire-resistant clothing for the military. A private equity firm renamed the company after it acquired Johnson-Ware several years ago. WeaveTech now faces a... View Details

19 May 2008
Research & Ideas

Connecting School Ties and Stock Recommendations

Social networks matter for more than just efficient Internet communication. They're also crucial for the strong performance of stock recommendations by analysts, according to researchers at Harvard Business... View Details

Keywords: by Martha Lagace; Financial Services

2020
Working Paper

Are ISS Recommendations Informative? Evidence from Assessments of Compensation Practices

By: Ana Albuquerque, Mary Ellen Carter and Susanna Gallani

Using detailed information from the largest proxy advisor in the U.S., Institutional Shareholder Services (ISS), we examine whether proxy advisors’ assessments of firms’ compensation practices are able to identify poor compensation practices as measured by subsequent... View Details

Keywords: Proxy Advisors; CEO Compensation; Say-on-Pay; Institutional Shareholder Voting; Executive Compensation; Performance

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November 2008
Journal Article

Can Research Committees Add Value for Investors? An Analysis of Lehman Brothers' Ten Uncommon Values® Recommendations

By: Boris Groysberg, Paul M. Healy and Yang Gui

Since 1949 Lehman Brothers has used an investment committee to select the top ten recommendations made by its analysts each year. We examine the performance of this committee's recommendations and find that on average its selections generated abnormal returns of 2.7%... View Details

Keywords: Forecasting and Prediction; Stocks; Financial Markets; Investment; Investment Return; Governing Rules, Regulations, and Reforms; Performance Expectations; Groups and Teams; Research; Value Creation

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July 2012
Case

Performance Management at Vitality Health Enterprises, Inc.

By: John Bingham and Michael Beer

Vitality Health Enterprises, a medium-sized firm that manufactures health and personal care products, has experienced six straight quarters of strong revenue growth. James Hoffman, the new Senior Vice President of Human Resources, fears that the chain of success is... View Details

Keywords: Performance Evaluation; Motivation and Incentives; Compensation and Benefits; Talent and Talent Management; Health Industry; Consumer Products Industry; Manufacturing Industry; United States

20 Mar 2012
Working Paper Summaries

The Stock Selection and Performance of Buy-Side Analysts

Keywords: by Boris Groysberg, Paul Healy, George Serafeim, Devin Shanthikumar & Gui Yang; Financial Services

October 2006 (Revised August 2008)
Background Note

Performing Industry Research to Inform Investment Decisions

Conducting thorough research about an industry is often an important component of investment analysis. Written specifically for HBS MBA students, provides guidance on how to perform industry research to inform investment decisions. Provides detailed information about... View Details

Keywords: Decision Choices and Conditions; Investment; Supply and Industry; Research

18 Sep 2000
Research & Ideas

Getting It Done: Improving Nonprofit Performance

limit to the changes they could effect in the sector." To help these organizations do that, Grossman concludes his paper with recommendations centering on three areas: knowledge development and information sharing concerning View Details

Keywords: by James E. Aisner

27 Nov 2006
What Do You Think?

What’s to Be Done About Performance Reviews?

suggestions for how to improve them. Typical of these were Thad Juszczak's recommendation that "The process of performance feedback should be continuous." Continuous feedback is an antidote to Hany... View Details

Keywords: by Jim Heskett

13 Mar 2023
Research & Ideas

The Power of Personal Connections: How Shared Experiences Boost Performance

residency, including on metrics such as patients’ likelihood of recommending their specialist, write Maximilian J. Pany, a doctoral candidate at Harvard Business School and MD candidate at Harvard Medical School, and J. Michael... View Details

Keywords: by Rachel Layne; Health

May 15, 2012
Article

Ensuring Quality Cancer Care: A Follow-Up Review of the Institute of Medicine’s 10 Recommendations for Improving the Quality of Cancer Care in America

By: Tracy E. Spinks, Heidi W. Albright, Thomas W. Feeley, Ron Walters, Thomas W. Burke, Thomas Aloia, Eduardo Bruera, Aman Buzdar, Lewis Foxhall, David Hui, Barbara Summers, Alma Rodriguez, Raymond DuBois and Kenneth I. Shine

Responding to growing concerns regarding the safety, quality, and efficacy of cancer care in the United States, the Institute of Medicine (IOM) of the National Academy of Sciences commissioned a comprehensive review of cancer care delivery in the US health care system... View Details

Keywords: Cancer; Quality; Cancer Care In The U.S.; Quality Improvement; Health Care and Treatment; Health Industry; North and Central America

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June 2019 (Revised April 2020)
Teaching Note

Vox Capital: Pioneering Impact Investing in Brazil

By: Julie Battilana, Marissa Kimsey and Falko Paetzold

Teaching Note for HBS No. 417-051. This Teaching Note provides conceptual foundations and teaching plan recommendations for the case on Vox Capital, a firm that launched one of the first impact investing funds in Brazil. The learning objectives are to understand how an... View Details

Keywords: Impact Investing; Social Performance Measurement; Social Entrepreneurship; Investment Funds; Social Enterprise; Brazil

January 2011
Case

AIC Netbooks: Optimizing Product Assembly

By: Steven C. Wheelwright and Sunru Yong

AIC Systems, located in Taichung, Taiwan, is a manufacturer of printed circuit boards, primarily for motherboards and video cards for personal computers. The firm is considered an original design manufacturer (ODM) and takes an active role in innovating and designing... View Details

Keywords: Performance Management; Quantitative Analysis; Manufacturing; Production Planning; Production Management; Diversification; Production; Performance Efficiency; Product Design; Performance Improvement; Mobile Technology; Manufacturing Industry; Electronics Industry; Taiwan

April 2012
Case

Bayonne Packaging, Inc.

By: Roy D. Shapiro and Paul E. Morrison

A printer and paper converter produces customized packaging used by industrial customers to deliver promotional materials, software, luxury beverages, and gift food and candy. The company specializes in creating innovative packaging solutions for its customers and... View Details

Keywords: Production Controls; Manufacturing; Capacity Analysis; Quality Control; Performance Management; Process Analysis; Quality; Production; Performance Productivity; Performance Capacity; Business Processes; Manufacturing Industry

Keywords: Green Building; LEED Rating System; Economic And Environmental Performance; Program Evaluation And Assessment; Tradeoffs Between Process- And Performance Standards; Buildings and Facilities; Business Headquarters; Governing Rules, Regulations, and Reforms; Standards; Corporate Social Responsibility and Impact; Performance Improvement; Environmental Sustainability; Pollutants; Green Technology Industry

September 2009 (Revised September 2010)
Case

Genzyme Center (A)

By: Michael W. Toffel and Aldo Sesia

Genzyme Corporation is in the midst of planning its new corporate headquarters, which incorporates many innovative green building features. After learning that the building as planned would likely earn a LEED Silver rating, an intermediate score in the LEED green... View Details

April 1988 (Revised October 1996)
Case

Home Depot, Inc., The

By: Krishna G. Palepu

Home Depot, founded in 1978, pioneered the warehouse retailing concept in the home center industry. The company's niche strategy resulted in rapid growth in sales. By 1986, however, the company began experiencing deteriorating profitability. Students are asked to... View Details

Keywords: Mathematical Methods; Performance; Business Strategy; Retail Industry