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- Faculty Publications (765)
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All HBS Web
(1,256)
- News (117)
- Research (1,004)
- Events (2)
- Multimedia (5)
- Faculty Publications (765)
Complicated Firms
We exploit a novel setting in which the same piece of information affects two sets of firms: one set of firms requires straightforward processing to update prices, while the other set requires more complicated analyses to incorporate the same piece of information into...
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- 17 Jun 2010
- Working Paper Summaries
When Do Analysts Add Value? Evidence from Corporate Spinoffs
- 2020
- Working Paper
Aggregate and Firm-Level Stock Returns During Pandemics, in Real Time
By: Laura Alfaro, Anusha Chari, Andrew Greenland and Peter K. Schott
We show that unexpected changes in the trajectory of COVID-19 infections predict U.S. stock returns, in real time. Parameter estimates indicate that an unanticipated doubling (halving) of projected infections forecasts next-day decreases (increases) in aggregate U.S....
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Keywords:
COVID-19;
Stock Returns;
Health Pandemics;
Stocks;
Investment Return;
Forecasting and Prediction
Alfaro, Laura, Anusha Chari, Andrew Greenland, and Peter K. Schott. "Aggregate and Firm-Level Stock Returns During Pandemics, in Real Time." NBER Working Paper Series, No. 26950, April 2020. (Revised May 2020.)
- December 2021
- Article
Trade Policy Uncertainty and Stock Returns
By: Marcelo Bianconi, Federico Esposito and Marco Sammon
A recent literature has documented large real effects of trade policy uncertainty (TPU) on trade, employment, and investment, but there is little evidence that investors are compensated for bearing such risk. To quantify the risk premium associated with TPU, we exploit...
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Keywords:
Trade Policy;
Uncertainty;
Stock Returns;
Risk Premium;
Tariff Rates;
Portfolio Analysis;
Trade;
Policy;
Risk and Uncertainty;
Stocks;
Investment Return
Bianconi, Marcelo, Federico Esposito, and Marco Sammon. "Trade Policy Uncertainty and Stock Returns." Art. 102492. Journal of International Money and Finance 119 (December 2021).
- January 2016
- Teaching Note
Groom Energy Solutions: Selling Efficiency
By: Michael W. Toffel, Kira Fabrizio and Stephanie van Sice
This case examines a start-up service provider that helps clients improve the energy efficiency of their factories, warehouses, and commercial and office spaces by integrating and installing lighting, heating, and cooling technologies. The company seeks to double...
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- Article
Unexpected Benefits of Deciding by Mind Wandering
By: Colleen Giblin, Carey K. Morewedge and Michael I. Norton
The mind wanders, even when people are attempting to make complex decisions. We suggest that such mind wandering—allowing one's thoughts to wander until the "correct" choice comes to mind—can positively impact people's feelings about their decisions. We compare...
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Giblin, Colleen, Carey K. Morewedge, and Michael I. Norton. "Unexpected Benefits of Deciding by Mind Wandering." Art. 598. Frontiers in Psychology 4 (September 6, 2013).
- May 2016
- Case
The Inexorable Rise of Walmart? 1988—2016
By: John R. Wells and Gabriel Ellsworth
In October 2015, Walmart surprised investors by announcing that it expected flat sales growth for 2015 and growth of only 3% to 4% over the coming three years. Profits would also fall due to significant investments in people and technology. The company’s stock price...
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Keywords:
Asda;
Costco;
David Glass;
Convenience Stores;
Discount Retailing;
Dollar Stores;
Doug McMillon;
E-commerce;
Online Retail;
General Merchandise;
Grocery;
Lee Scott;
Mike Duke;
Multichannel Retailing;
Omnichannel;
Neighborhood Market;
Sam Walton;
Sam's Club;
Store Formats;
Supercenter;
Supermarket;
Warehouse Clubs;
Merchandising;
Walmart;
Wal-Mart;
Globalized Firms and Management;
Competitive Strategy;
Corporate Strategy;
Growth and Development Strategy;
Business Units;
Business Divisions;
Business Growth and Maturation;
Business Model;
Business Organization;
For-Profit Firms;
Film Entertainment;
Television Entertainment;
Banks and Banking;
Price;
Profit;
Revenue;
Food;
Global Range;
Cross-Cultural and Cross-Border Issues;
Global Strategy;
Business History;
Compensation and Benefits;
Employees;
Human Capital;
Labor Unions;
Wages;
Business or Company Management;
Goals and Objectives;
Management Succession;
Brands and Branding;
Product Positioning;
Distribution;
Supply Chain;
Supply Chain Management;
Public Ownership;
Problems and Challenges;
Labor and Management Relations;
Strategy;
Adaptation;
Business Strategy;
Competition;
Competitive Advantage;
Diversification;
Expansion;
Segmentation;
Information Technology;
Internet;
Mobile Technology;
Online Technology;
Web;
Web Sites;
Retail Industry;
Food and Beverage Industry;
Distribution Industry;
Banking Industry;
United States;
Arkansas;
Bentonville
Wells, John R., and Gabriel Ellsworth. "The Inexorable Rise of Walmart? 1988—2016." Harvard Business School Case 716-426, May 2016.
- Web
Online Business Analytics Course | HBS Online
Excel to assess the impact of changes on an entire population or estimate differences between populations Interpret the results of a series of website A/B tests 8 hrs Module 4 Single Variable Linear Regression Analyze the relationship between two variables and develop...
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- 2021
- Working Paper
Going by the Book: Valuation Ratios and Stock Returns
By: Ki-Soon Choi, Eric So and Charles C.Y. Wang
We study the use of firms’ book-to-market ratios (B/M) in value investing and its implications for comovements in firms’ stock returns and trading volumes. We show B/M has become increasingly detached from common alternative valuation ratios over time while also...
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Choi, Ki-Soon, Eric So, and Charles C.Y. Wang. "Going by the Book: Valuation Ratios and Stock Returns." Harvard Business School Working Paper, No. 21-126, May 2021.
- 2015
- Working Paper
Measurement Errors of Expected-Return Proxies and the Implied Cost of Capital
Despite their popularity as proxies of expected returns, the implied cost of capital's (ICC) measurement error properties are relatively unknown. Through an in-depth analysis of a popular implementation of ICCs by Gebhardt, Lee, and Swaminathan (2001) (GLS), I show...
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Wang, Charles C.Y. "Measurement Errors of Expected-Return Proxies and the Implied Cost of Capital." Harvard Business School Working Paper, No. 13-098, May 2013. (Revised February 2015.)
- January 2001 (Revised July 2003)
- Case
Pharmacyclics: Financing Research & Development
By: Malcolm P. Baker, Richard S. Ruback and Aldo Sesia
Pharmacyclics (NASDAQ: PCYC), a pharmaceutical company that manufactures products that will improve existing therapeutic treatments for cancer, arteriosclerosis, and retinal disease, was considering a $60 million private placement in February 2000. The company had more...
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Keywords:
Valuation;
Cash Flow;
Financing and Loans;
Business Startups;
Financial Strategy;
Medical Devices and Supplies Industry;
Pharmaceutical Industry;
Health Industry
Baker, Malcolm P., Richard S. Ruback, and Aldo Sesia. "Pharmacyclics: Financing Research & Development." Harvard Business School Case 201-056, January 2001. (Revised July 2003.)
- Research Summary
The Design of Mechanisms and Institutions
Professor Coughlan's research also investigates the design of public policy and collective choice institutions. His research publications have applied game theory, mechanism design, and laboratory experiments to explore incentives and outcomes under alternative legal,...
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- Research Summary
Understanding and Managing Information Intermediaries
Brian Bushee is investigating whether information intermediaries such as institutional investors and financial analysts are sophisticated and efficient users of accounting information and whether these intermediaries' decisions influence the choices made by... View Details
- August 2021 (Revised November 2023)
- Supplement
Coats: Supply Chain Challenges
By: Willy C. Shih
Coats, the largest thread maker in the world, transformed its business to digital colour measurement so that it could respond better to customer demand in the garment industry for rapid product cycles and more fragmented colour choices. Its embrace of digital colour...
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- 21 Aug 2023
- Book
You’re More Than Your Job: 3 Tips for a Healthier Work-Life Balance
investing in themselves first. “What’s incredibly freeing about this state of constant disruption is that we’re given the space to grow, to reinvent ourselves to meet life as it shows up rather than having to forecast at 18, or 22, or...
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Keywords:
by Kara Baskin
- 2023
- Working Paper
Advances in Power-to-Gas Technologies: Cost and Conversion Efficiency
By: Gunther Glenk, Philip Holler and Stefan Reichelstein
Widespread adoption of hydrogen as an energy carrier is widely believed to require continued advances in Power-to-Gas (PtG) technologies. Here we provide a comprehensive assessment of the dynamics of system prices and conversion efficiency for three currently prevalent...
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Keywords:
Clean Tech;
Decarbonization;
Carbon Emissions;
Learning By Doing;
Environment;
Energy;
Environmental Management;
Sustainable Cities;
Price;
Energy Industry;
Utilities Industry;
Industrial Products Industry;
Manufacturing Industry;
Transportation Industry;
Europe;
North America;
South America;
Africa;
Asia
Glenk, Gunther, Philip Holler, and Stefan Reichelstein. "Advances in Power-to-Gas Technologies: Cost and Conversion Efficiency." TRR 266 Accounting for Transparency Working Paper Series, No. 109, December 2022.
- April 2008
- Case
Campbell and Bailyn's Boston Office: Managing the Reorganization
By: Anne Donnellon and Dun Gifford Jr
Ken Winston, the regional sales manager at a securities brokerage firm, has reorganized his generalist salespeople into Key Account Teams (KAT) to increase sales of specialized, higher-margin fixed income products. Winston is also implementing a new corporate...
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Keywords:
Organizational Behavior;
Fixed Costs;
Group Dynamics;
Human Resource Management;
Compensation;
Matrix Organization;
Sales;
Leading Teams;
Management;
Leadership;
Organizational Design;
Organizational Structure;
Groups and Teams;
Organizational Culture;
Organizational Change and Adaptation;
Change Management;
Salesforce Management;
Compensation and Benefits;
Financial Services Industry;
Boston
Donnellon, Anne, and Dun Gifford Jr. "Campbell and Bailyn's Boston Office: Managing the Reorganization." Harvard Business School Brief Case 082-182, April 2008.
"Selective Attention and Learning"
What do we notice and how does this affect what we learn and come to believe? I present a model of an agent who learns to make forecasts on the basis of readily available information, but is selective as to which information he attends to: he chooses whether to...
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- July 2014 (Revised May 2015)
- Case
Making Room for the Baby Boom: Senior Living
By: Charles F. Wu, Joseph Beyer and Arthur I. Segel
Tom Alperin's National Development has purchased a building site in affluent Wellesley, MA, and is in the process of deciding whether to build apartments, a combination of independent living and assisted living units for seniors, or perhaps even higher acuity...
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Keywords:
Senior Living;
Assisted Living;
Independent Living;
Property;
Finance;
Real Estate Industry;
Boston;
Massachusetts;
United States
Wu, Charles F., and Joseph Beyer. "Making Room for the Baby Boom: Senior Living." Harvard Business School Case 215-003, July 2014. (Revised May 2015.)
- October 2012 (Revised September 2014)
- Case
Doing Business in Vietnam
By: Alan MacCormack, Michael Shih-ta Chen and Dawn H. Lau
This case gives an overview of the current business environment in Vietnam as of 2012. The first part of the case introduces the main economic, political and cultural aspects of the country of which anyone who has business interest in the country ought to be aware....
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