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(990)
- News (106)
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- Faculty Publications (296)
Show Results For
-
All HBS Web
(990)
- News (106)
- Research (790)
- Events (2)
- Multimedia (1)
- Faculty Publications (296)
- March 2013
- Case
NovaStar Financial: A Short Seller's Battle
By: Suraj Srinivasan and Amy Kaser
The NovaStar case describes the challenges faced by short seller Marc Cohodes of hedge fund Rocker Partners as he tried to expose what he thought was widespread fraud in mortgage lender NovaStar Financial. The case is set in the time period from 2001 to 2007 and tracks...
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Keywords:
Short Selling;
Financial Accounting;
Financial Analysis;
Financial Analysts;
Valuation;
Business Analysis;
Financial Statement Analysis;
Financial Statements;
Securitization;
Securities Analysis;
Fraud;
Accounting Quality;
Accounting Red Flags;
Accounting Restatements;
Hedge Fund;
Hedge Funds;
Accounting Scandal;
Accounting Fraud;
Financial Crisis;
Financial Intermediaries;
Financial Firms;
Corporate Accountability;
Subprime Lending;
Mortgage Lending;
Accounting;
Accrual Accounting;
Fair Value Accounting;
Governance;
Governance Compliance;
Corporate Governance;
Governance Controls;
Financial Services Industry;
United States;
California
Srinivasan, Suraj, and Amy Kaser. "NovaStar Financial: A Short Seller's Battle." Harvard Business School Case 113-120, March 2013.
- Research Summary
Overview
By: Mark L. Egan
When considering how households make investment decisions, Professor Egan became intrigued by the question, “What makes a bank ‘special’ when compared to other lending institutions?” Focusing on empirical industrial organization with applications to finance and...
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- 2014
- Working Paper
Putting Skin in the Game: Managerial Ownership and Bank Risk-Taking
By: Jan Bouwens and Arnt Verriest
This paper examines the relation between managerial ownership and bank risk exposure for a large sample of international financial institutions. We seek empirical evidence suggested by theories concerning conflicts between managers and owners over risk-taking. We argue...
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Keywords:
Managerial Equity Ownership;
Financial Risk;
Banks;
Motivation and Incentives;
Risk Management;
Employee Ownership;
Corporate Governance;
Banks and Banking;
Banking Industry
Bouwens, Jan, and Arnt Verriest. "Putting Skin in the Game: Managerial Ownership and Bank Risk-Taking." Harvard Business School Working Paper, No. 14-070, February 2014. (Revised June 2014.)
- June 2016
- Article
Corporate Governance and Executive Compensation for Corporate Social Responsibility
By: Bryan Hong, Zhichuan (Frank) Li and Dylan B. Minor
We link the corporate governance literature in financial economics to the agency cost perspective of corporate social responsibility (CSR) to derive theoretical predictions about the relationship between corporate governance and the existence of executive compensation...
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Keywords:
Corporate Social Responsibility;
Incentives For CSR;
Non-financial Performance Measures;
Agency Costs;
Board Independence;
Institutional Holdings;
Managerial Power;
Motivation and Incentives;
Corporate Social Responsibility and Impact;
Executive Compensation;
Corporate Governance
Hong, Bryan, Zhichuan (Frank) Li, and Dylan B. Minor. "Corporate Governance and Executive Compensation for Corporate Social Responsibility." Journal of Business Ethics 136, no. 1 (June 2016): 199–213.
- December 2013
- Article
Legislating Stock Prices
By: Lauren Cohen, Karl Diether and Christopher Malloy
We demonstrate that legislation has a simple, yet previously undetected impact on stock prices. Exploiting the voting record of legislators whose constituents are the affected industries, we show that the votes of these "interested" legislators capture important...
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Keywords:
Legislator Incentives;
Voting;
Return Predictability;
Lobbying;
Motivation and Incentives;
Government Legislation;
Stocks
Cohen, Lauren, Karl Diether, and Christopher Malloy. "Legislating Stock Prices." Journal of Financial Economics 110, no. 3 (December 2013): 574–595. (Winner of Fama-DFA Prize for the Best Paper Published in the Journal of Financial Economics in Asset Pricing (Distinguished Paper) 2013.)
- November 2020
- Article
Accelerator or Brake? Cash for Clunkers, Household Liquidity, and Aggregate Demand
By: Daniel Green, Brian Melzer, Jonathan Parker and Arcenis Rojas
This paper evaluates the Car Allowance Rebate System (CARS) by comparing the vehicle purchases and disposals of households with eligible "clunkers" to those of households with similar, but ineligible, vehicles. CARS caused roughly 500,000 purchases during the program...
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Keywords:
Automobiles;
Purchasing;
Government Incentives;
Household;
Financial Liquidity;
Income;
Behavior
Green, Daniel, Brian Melzer, Jonathan Parker, and Arcenis Rojas. "Accelerator or Brake? Cash for Clunkers, Household Liquidity, and Aggregate Demand." American Economic Journal: Economic Policy 12, no. 4 (November 2020): 178–211.
- 2020
- Working Paper
The Effects of Information on Credit Market Competition: Evidence from Credit Cards
By: C. Fritz Foley, Agustin Hurtado, Andres Liberman and Alberto Sepulveda
We show empirically that public credit information increases competition in credit markets. We access data that cover all credit card borrowers in Chile and include details about relationship borrowers have with each lender. We exploit a natural experiment whereby a...
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Keywords:
Consumer Credit;
Financial Intermediaries;
Credit;
Information;
Competition;
Credit Cards;
Financial Institutions
Foley, C. Fritz, Agustin Hurtado, Andres Liberman, and Alberto Sepulveda. "The Effects of Information on Credit Market Competition: Evidence from Credit Cards." Working Paper, February 2020.
- Research Summary
Overview
The Information Age has introduced well-received opportunities to track performance. Fitbits and Fuelbands allow individuals to track their own performance; companies like Uber and leading hospitals help you choose a driver or a doctor based on how others rated... View Details
- Research Summary
Overview
Abigail's research to date has focused on the financial accounting standard setting process. Specifically, her current projects investigate the impacts of regulator backgrounds, constituent preferences, and lobbying incentives in the determination of US GAAP. Her...
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- Teaching Interest
Overview
By: Susanna Gallani
At HBS, Professor Gallani teaches in the Executive Education Program for Leadership Development and in focused Executive Education programs, including Managing Health Care Delivery, Driving Corporate Performance, and several programs focused on the implementation of...
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- Research Summary
Overview
The Information Age has introduced well recieved opportunities to track performance. Fitbits and Fuelbands show individuals their own performance; service companies including Uber and leading hospitals help pick from drivers or doctors based on how others rate them;...
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- 2021
- Working Paper
Government Shareholdings in Brokerage Firms and Analyst Research Quality
By: Sheng Cao, Xianjie He, Charles C.Y. Wang and Huifang Yin
During times when the Chinese government wished to prop up the market, sell-side analysts from brokerages with significant government ownership issued relatively less pessimistic (or more optimistic) earnings forecasts, earnings-forecast revisions, and stock...
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Keywords:
Sell-side Analysts;
Forecast Optimism;
Forecast Accuracy;
Government Incentives;
Stocks;
Forecasting and Prediction;
Business and Government Relations;
Emerging Markets
Cao, Sheng, Xianjie He, Charles C.Y. Wang, and Huifang Yin. "Government Shareholdings in Brokerage Firms and Analyst Research Quality." Harvard Business School Working Paper, No. 18-095, March 2018. (Revised June 2021.)
- 30 Jan 2024
- Research & Ideas
‘Intrinsic Joy’ Sparks Ideas Better than Cash
Columbia University. When AI, open source, and incentives collide The findings have implications for any kind of innovation drive stemming from crowdsourcing, a method of gathering information from large groups that has been around for...
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- 09 Apr 2018
- Sharpening Your Skills
The Dark Side of Performance Bonuses
carefully, can open a box full of unintended consequences that ultimately harm rather than help the organization. The financial crisis of 2008 was partially fueled by origination bonuses paid to bank loan officers who were View Details
Keywords:
by Sean Silverthorne
- 2021
- Working Paper
Elusive Safety: The New Geography of Capital Flows and Risk
By: Laura Alfaro, Ester Faia, Ruth Judson and Tim Schmidt-Eisenlohr
A confidential dataset with industry-level disaggregation of U.S. cross-border claims and liabilities, shows U.S. securities to be increasingly intermediated by tax-haven-financial-centers (THFC) and less regulated funds. These securities are risky, in...
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Keywords:
Tax Havens;
Financial Centers;
Geography Of Flows;
Profit Shifting;
Tax Avoidance;
Risk;
Safe Assets;
Hetergeneous Firms;
Endogenous Entry;
Endogenous Monitoring;
Regulatory Arbitrage;
Assets;
Safety;
Risk and Uncertainty;
Capital;
Global Range
Alfaro, Laura, Ester Faia, Ruth Judson, and Tim Schmidt-Eisenlohr. "Elusive Safety: The New Geography of Capital Flows and Risk." Harvard Business School Working Paper, No. 20-099, March 2020. (Revised February 2021.)
- 07 Jul 2008
- Research & Ideas
Innovation Corrupted: How Managers Can Avoid Another Enron
in diverse markets proved a significant challenge. Still, supreme overconfidence and perverse financial incentives led to a gladiator culture in which executives proposed—and risk managers and the board of...
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- December 2017 (Revised January 2018)
- Case
NatureSweet
By: Jose Alvarez, Forest Reinhardt and Natalie Kindred
This case describes the business model and workplace philosophy of NatureSweet, a privately owned, vertically integrated greenhouse grower and marketer of fresh tomatoes with sales across the United States and $329 million in 2016 revenues. CEO Bryant Ambelang treated...
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Keywords:
NatureSweet;
Tomatoes;
Agriculture;
Greenhouse;
Ambelang;
Cherry Tomatoes;
Incentives;
Worker Empowerment;
Empowerment;
Toyota Production System;
Leadership;
Branding;
Produce;
Manufacturing;
Organizational Change;
Agribusiness;
Business Model;
Employee Relationship Management;
Working Conditions;
Organizational Culture;
Success;
Problems and Challenges;
Agriculture and Agribusiness Industry;
Manufacturing Industry;
United States;
Mexico;
North America
Alvarez, Jose, Forest Reinhardt, and Natalie Kindred. "NatureSweet." Harvard Business School Case 518-002, December 2017. (Revised January 2018.)
Suraj Srinivasan
Suraj Srinivasan is a Professor in the Accounting and Management area at Harvard Business School. He is currently the course-head for the HBS required course Financial Reporting and Control. He also teaches to executives, Strategic Financial Analysis for... View Details
- 29 Apr 2009
- News
Economic Recovery
- 17 Jul 2023
- Research & Ideas
Money Isn’t Everything: The Dos and Don’ts of Motivating Employees
employees, it can come across as crass, pushy, or unethical. “The story matters a lot,” Hall says. “Even when you get the financial incentives right, it’s rarely the case that you want to emphasize to...
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Keywords:
by Avery Forman