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Show Results For
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All HBS Web
(667)
- News (76)
- Research (519)
- Events (1)
- Multimedia (1)
- Faculty Publications (261)
- 14 Jan 2008
- Research & Ideas
Mapping Polluters, Encouraging Protectors
Citizens, industrial polluters, and scholars do not usually see eye to eye—but that may change with a new Web site that monitors corporate environmental performance in the United States. According to the...
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- September 2023
- Article
Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement
By: George Serafeim and Aaron Yoon
We investigate whether ESG ratings predict future ESG news and the associated market reactions. We find that the consensus rating predicts future news, but its predictive ability diminishes for firms with large disagreement between raters. Relation between news and...
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Keywords:
ESG;
ESG (Environmental, Social, Governance) Performance;
ESG Disclosure;
ESG Ratings;
ESG Reporting;
ESG Disclosure Metrics;
Sustainability;
Investments;
Disagreement;
Rating Disagreement;
Ratings;
Environmental Sustainability;
Social Issues;
Corporate Social Responsibility and Impact;
Performance;
News;
Investment;
Financial Markets;
Stocks;
Price
Serafeim, George, and Aaron Yoon. "Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement." Special Issue on RAST 2022 Conference. Review of Accounting Studies 28, no. 3 (September 2023): 1500–1530.
- June 2013 (Revised January 2024)
- Case
Governance and Sustainability at Nike (A)
By: Lynn S. Paine, Nien-hê Hsieh and Lara Adamsons
Two members of Nike's executive team must decide what sustainability targets to propose to Nike's CEO and to the corporate responsibility committee of Nike's board of directors. Set in 2012, the case traces the evolution of Nike's approach to environmental and social...
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Keywords:
Nike;
Hannah Jones;
Mark Parker;
Phil Knight;
Philip Knight;
Eric Sprunk;
Jill Ker Conway;
Phyllis Wise;
Don Blair;
Sustainable Business And Innovation;
SB&I;
Flyknit;
DyeCoo;
Footwear;
Athletic Footwear;
Apparel;
Athletic Apparel;
Sustainability;
Greenpeace;
Detox Campaign;
Dirty Laundry;
Water;
Water Use;
Water Pollution;
Water Resources;
Corporate Responsibility Committee;
Judgment;
Board Of Directors;
Board Committees;
Environmental And Social Sustainability;
Footwear Industry;
Decision Choices and Conditions;
Decisions;
Ethics;
Fairness;
Globalized Firms and Management;
Multinational Firms and Management;
Globalized Markets and Industries;
Governance;
Corporate Accountability;
Corporate Governance;
Innovation and Invention;
Innovation and Management;
Innovation Leadership;
Innovation Strategy;
Goals and Objectives;
Management Practices and Processes;
Corporate Social Responsibility and Impact;
Performance;
Alignment;
Supply Chain;
Organizational Change and Adaptation;
Judgments;
Apparel and Accessories Industry;
Asia;
China;
United States;
Oregon;
Portland
Paine, Lynn S., Nien-hê Hsieh, and Lara Adamsons. "Governance and Sustainability at Nike (A)." Harvard Business School Case 313-146, June 2013. (Revised January 2024.)
- May 2011
- Article
The Growing Power of Non-financial Reports
By: Ioannis Ioannou and George Serafeim
We are exploring the value of forcing corporations to issue sustainability reports, which provide information about corporate performance in terms of social, environmental and governance issues. In a breakthrough study they asked, what is the effect of mandatory...
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Keywords:
Value;
Reports;
Performance;
Management Practices and Processes;
Globalization;
Power and Influence;
Natural Environment;
Governance;
Social Issues
Ioannou, Ioannis, and George Serafeim. "The Growing Power of Non-financial Reports." Business Strategy Review (May 2011).
- 02 Nov 2006
- Working Paper Summaries
Resolving Information Asymmetries in Markets: The Role of Certified Management Programs
Keywords:
by Michael W. Toffel
- 23 Apr 2024
- In Practice
Getting to Net Zero: The Climate Standards and Ecosystem the World Needs Now
With each month clocking record-breaking temperatures across the planet, this Earth Day reflected the renewed urgency of regulators and businesses to find climate-change solutions. The US Securities and Exchange Commission recently adopted new rules that will mandate...
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Keywords:
by Rachel Layne
- January 2006 (Revised May 2006)
- Case
Akin Ongor's Journey
A retired bank CEO, one of Turkey's most admired leaders, wants to start a leadership institute to develop emerging leaders in the eastern Mediterranean region. Describes his biography and values, the models he established for excellent financial performance and...
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Keywords:
Leadership Development;
Values and Beliefs;
Partners and Partnerships;
Corporate Social Responsibility and Impact;
Business Startups;
Environmental Sustainability;
Retirement;
Education Industry;
Turkey;
United States
Kanter, Rosabeth M. "Akin Ongor's Journey." Harvard Business School Case 306-072, January 2006. (Revised May 2006.)
- 2022
- Article
Which Corporate ESG News Does the Market React To?
By: George Serafeim and Aaron Yoon
Using a dataset that classifies firm-level ESG news as positive and negative, we examine how stock prices react to different types of ESG news. We analyze 111,020 firm-day observations for 3,126 companies and find that prices react only to issues identified as...
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Keywords:
ESG;
ESG (Environmental, Social, Governance) Performance;
ESG Ratings;
Social Capital;
Environment;
Sustainability;
CSR;
Stock Price;
Stock Market Expectations;
Materiality;
Market Reaction;
Environmental Sustainability;
Governance;
Social Issues;
Performance;
News
Serafeim, George, and Aaron Yoon. "Which Corporate ESG News Does the Market React To?" Financial Analysts Journal 78, no. 1 (2022): 59–78.
- 11 Oct 2007
- Working Paper Summaries
How Firms Respond to Being Rated
- 17 Feb 2012
- News
Saints Beat Sinners for Sustainable Investing: Stock Chart
- September 1996 (Revised December 1997)
- Case
Cytec Industries' Spin-Off (A): Sink or Swim?
In the wake of market pressure to restructure, American Cyanamid spun off its poorly performing Chemicals Unit into a new publicly traded corporation, Cytec Industries. In addition to weak operations, Cytec inherited the bulk of Cyanamid's environmental and...
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Keywords:
Organizational Change and Adaptation;
Management Practices and Processes;
Restructuring;
Performance Improvement;
Chemical Industry;
United States
Wruck, Karen, and Sherry P. Roper. "Cytec Industries' Spin-Off (A): Sink or Swim?" Harvard Business School Case 897-053, September 1996. (Revised December 1997.)
- September 2016
- Article
The Effect of Target Difficulty on Target Completion: The Case of Reducing Carbon Emissions
By: Ioannis Ioannou, Shelley Xin Li and George Serafeim
Targets are an integral component of management control systems and play a significant role in achieving desirable performance outcomes. We focus on a key environmental performance objective—reduction of carbon emissions—as a setting in which to examine how target...
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Keywords:
Sustainability;
Target-setting;
Management Accounting;
Management Accounting And Control Systems;
Control Systems;
Sustainable Development;
Environment;
Goals and Objectives;
Climate Change;
Management Systems;
Accounting;
Environmental Sustainability
Ioannou, Ioannis, Shelley Xin Li, and George Serafeim. "The Effect of Target Difficulty on Target Completion: The Case of Reducing Carbon Emissions." Accounting Review 91, no. 5 (September 2016).
- 16 Jul 2020
- News
Crisis offers a chance to rewrite accounting to include impact
- 20 Jan 2012
- News
LRQA talks to world’s leading management systems expert
- 2019
- White Paper
Impact-Weighted Financial Accounts: The Missing Piece for an Impact Economy
By: George Serafeim, T. Robert Zochowski and Jennifer Downing
Reimagining capitalism is an imperative. We need to create a more inclusive and sustainable form of capitalism that works for every person and the planet. Massive environmental damage, growing income and wealth disparity, stress, and depression within developed...
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Keywords:
Impact-Weighted Accounts;
IWAI;
Background;
Economic Systems;
Economy;
Corporate Social Responsibility and Impact;
Measurement and Metrics;
Financial Statements
Serafeim, George, T. Robert Zochowski, and Jennifer Downing. "Impact-Weighted Financial Accounts: The Missing Piece for an Impact Economy." White Paper, Harvard Business School, Boston, MA, September 2019.
- 2021
- Article
Decarbonizing Everything
By: Alex Cheema-Fox, Bridget LaPerla, George Serafeim, David Turkington and Hui (Stacie) Wang
We analyze how the use of different climate risk measures leads to different portfolio carbon outcomes and risk-adjusted returns. Our findings are synthesized in a rules-based investment framework, which selects a different type of climate metric across industries and...
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Keywords:
Climate Risk;
ESG;
ESG (Environmental, Social, Governance) Performance;
ESG Disclosure;
ESG Disclosure Metrics;
ESG Ratings;
Investing;
Investing For Impact;
Investment Strategy;
Environment;
Decarbonization;
Climate Change;
Environmental Sustainability;
Environmental Management;
Environmental Accounting;
Investment;
Strategy;
Investment Portfolio;
Investment Return
Cheema-Fox, Alex, Bridget LaPerla, George Serafeim, David Turkington, and Hui (Stacie) Wang. "Decarbonizing Everything." Financial Analysts Journal 77, no. 3 (2021): 93–108.
- 04 Jun 2008
- Working Paper Summaries
Coming Clean and Cleaning Up: Is Voluntary Disclosure a Signal of Effective Self-Policing?
Keywords:
by Michael W. Toffel & Jodi L. Short
- September 2010 (Revised December 2011)
- Case
Southwest Airlines One ReportTM
By: Robert G. Eccles, Beiting Cheng and Susan Thyne
In 2009, Southwest Airlines produced its first integrated annual report, the Southwest Airlines One Report, combing financial and nonfinancial performance information. This case examines Southwest's environmental and corporate social responsibility (CSR) reports...
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Keywords:
Environmental Accounting;
Financial Reporting;
Integrated Corporate Reporting;
Innovation and Invention;
Corporate Social Responsibility and Impact;
Environmental Sustainability;
Air Transportation Industry;
United States
Eccles, Robert G., Beiting Cheng, and Susan Thyne. "Southwest Airlines One ReportTM." Harvard Business School Case 411-042, September 2010. (Revised December 2011.)
- December 2004 (Revised May 2005)
- Case
Nestle: Sustainable Agriculture Initiative
Swiss food giant Nestle attempts to improve the performance of its suppliers of agricultural commodities to raise quality, lower costs, and contribute to sustainable development. Its initiatives focus first on coffee, cocoa, and milk. Nestle managers assert that the...
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Keywords:
Corporate Social Responsibility and Impact;
Environmental Sustainability;
Social Issues;
Business and Community Relations;
Corporate Strategy;
Agribusiness;
Supply Chain Management;
Marketing Strategy;
Value Creation;
Food and Beverage Industry;
Agriculture and Agribusiness Industry
Reinhardt, Forest L. "Nestle: Sustainable Agriculture Initiative." Harvard Business School Case 705-018, December 2004. (Revised May 2005.)