Filter Results
:
(2,045)
Show Results For
-
All HBS Web
(2,045)
- People (1)
- News (412)
- Research (1,442)
- Events (37)
- Multimedia (13)
- Faculty Publications (866)
Show Results For
-
All HBS Web
(2,045)
- People (1)
- News (412)
- Research (1,442)
- Events (37)
- Multimedia (13)
- Faculty Publications (866)
- January 2001 (Revised August 2003)
- Case
Diageo plc
A major U.K.-based multinational is reevaluating its leverage policy as it restructures its business. The treasury team models the tradeoffs between the benefits and costs of debt financing, using Monte Carlo simulation to estimate the savings from the interest tax...
View Details
Keywords:
Cost vs Benefits;
Multinational Firms and Management;
Capital Structure;
Restructuring;
United Kingdom
Chacko, George C., Peter Tufano, and Joshua Musher. "Diageo plc." Harvard Business School Case 201-033, January 2001. (Revised August 2003.)
- 01 May 2018
- HBS Seminar
Davidson Heath, University of Utah
- May 2011
- Article
Overconfidence by Bayesian Rational Agents
This paper derives two mechanisms through which Bayesian-rational individuals with differing priors will tend to be relatively overconfident about their estimates and predictions, in the sense of overestimating the precision of these estimates. The intuition behind one...
View Details
Keywords:
Decision Choices and Conditions;
Forecasting and Prediction;
Knowledge Acquisition;
Risk Management;
Prejudice and Bias
Van den Steen, Eric J. "Overconfidence by Bayesian Rational Agents." Management Science 57, no. 5 (May 2011): 884–896.
- October 1990
- Case
Manufacturers Hanover Corp.: Customer Profitability Report
By: Robert S. Kaplan
Banking company noting declining profitability from its traditional lending activities has started to measure the total profitability of its lending relationships. A loan pricing model estimates the profit and return-on-equity from commercial loans. Additional work was...
View Details
Keywords:
Investment Return;
Revenue;
Commercial Banking;
Banks and Banking;
Customer Value and Value Chain;
Banking Industry
Kaplan, Robert S. "Manufacturers Hanover Corp.: Customer Profitability Report." Harvard Business School Case 191-068, October 1990.
- 2019
- Chapter
The Consequences of Mandatory Corporate Sustainability Reporting
By: Ioannis Ioannou and George Serafeim
A key aspect of the governance process inside organizations and markets is the measurement and disclosure of important metrics and information. In this chapter, we examine the effect of sustainability disclosure regulations on firms’ disclosure practices and...
View Details
Keywords:
Mandatory Disclosure;
Mandatory Reporting;
Sustainability;
Corporate Social Responsibility;
Social Impact;
Valuation;
China;
South Africa;
Europe;
Asia;
Regulation;
Corporate Disclosure;
Integrated Corporate Reporting;
Corporate Social Responsibility and Impact;
Governing Rules, Regulations, and Reforms;
Corporate Governance;
China;
Denmark;
Malaysia;
South Africa
Ioannou, Ioannis, and George Serafeim. "The Consequences of Mandatory Corporate Sustainability Reporting." In The Oxford Handbook of Corporate Social Responsibility: Psychological and Organizational Perspectives, edited by Abagail McWilliams, Deborah E. Rupp, Donald S. Siegel, Günter K. Stahl, and David A. Waldman, 452–489. Oxford University Press, 2019.
- October 1989 (Revised May 1990)
- Case
Jaguar plc--1984
By: Timothy A. Luehrman and William Schiano
A vehicle for analyzing the exposure of operating cash flows to exchange rate changes. Considers the value of Jaguar plc at the time of its privatization and share offering in 1984. Jaguar is a major exporter from the United Kingdom and the United States is therefore...
View Details
Keywords:
Change;
Cash Flow;
Currency Exchange Rate;
Risk Management;
Privatization;
Valuation;
Auto Industry;
United Kingdom;
United States
Luehrman, Timothy A., and William Schiano. "Jaguar plc--1984." Harvard Business School Case 290-005, October 1989. (Revised May 1990.)
- August 2008
- Article
The Implications of Unverifiable Fair-value Accounting: Evidence from the Political Economy of Goodwill Accounting
By: Karthik Ramanna
I study the evolution of SFAS 142, which uses unverifiable fair-value estimates to account for acquired goodwill. I find evidence consistent with the FASB issuing SFAS 142 in response to political pressure over its proposal to abolish pooling accounting. The result is...
View Details
Keywords:
Accounting;
Fair Values;
Politics;
Standard Setting;
Fair Value Accounting;
Goodwill Accounting;
Government Legislation;
Agency Theory
Ramanna, Karthik. "The Implications of Unverifiable Fair-value Accounting: Evidence from the Political Economy of Goodwill Accounting." Journal of Accounting & Economics 45, nos. 2-3 (August 2008): 253–281. (Winner of the Elsevier JAE 2008 Best Paper Prize. Winner of the American Accounting Association FARS Best Dissertation Award. Presented at the 2006 Journal of Accounting & Economics Conference.)
- March 2011
- Case
Valuation of AirThread Connections
By: Erik Stafford and Joel L. Heilprin
This case can be used as a capstone valuation exercise for first-year MBA students in an introductory finance course. A senior associate in the business development group at American Cable Communications, one of the largest cable companies in the U.S., must prepare a...
View Details
Keywords:
Communication;
Present Value;
Tax Accounting;
Capital Costs;
Synergy;
Telephony;
Wireless Technologies;
Communication Technology;
Assets;
Cost of Capital;
Valuation;
Cash Flow;
Capital Structure;
Accounting;
Wireless Technology;
Communications Industry;
Media and Broadcasting Industry
Stafford, Erik, and Joel L. Heilprin. "Valuation of AirThread Connections." Harvard Business School Brief Case 114-263, March 2011.
- June 30, 2020
- Article
Bipartisan Tax-Free Solution to Health Care Financing: Coupling HRAs With a Public Option
By: Regina E. Herzlinger, Richard Boxer and James Wallace
A combination of health insurance initiatives by the presumptive 2020 Democratic and Republican presidential nominees could expand health care coverage and significantly reduce costs, without raising taxes. Along the way, the combination could revitalize private...
View Details
Keywords:
Health Care Financing;
Public Option;
Health Reimbursement Arrangement (HRA);
Health Care and Treatment;
Insurance;
Cost Management
Herzlinger, Regina E., Richard Boxer, and James Wallace. "Bipartisan Tax-Free Solution to Health Care Financing: Coupling HRAs With a Public Option." Health Affairs Blog (June 30, 2020).
- Article
On the Causality and Cause of Returns to Organizational Status: Evidence from the Grands Crus Classés of the Médoc
By: Daniel Malter
This paper identifies the causal symbolic effect of status on the prices organizations charge for their products. I exploit the classification of the châteaux of the Médoc, which sorted 61 wine producers into five growth classes in 1855, as a fixed hierarchical symbol...
View Details
Keywords:
Organizational Status;
Quality Signals;
Conspicuous Consumption;
Wine Classification Of 1855;
Grand Cru;
Status and Position;
Quality;
Reputation;
Price;
France
Malter, Daniel. "On the Causality and Cause of Returns to Organizational Status: Evidence from the Grands Crus Classés of the Médoc." Administrative Science Quarterly 59, no. 2 (June 2014): 271–300.
- Article
A Choice Prediction Competition for Market Entry Games: An Introduction
By: Ido Erev, Eyal Ert and Alvin E. Roth
A choice prediction competition is organized that focuses on decisions from experience in market entry games (http://sites.google.com/site/gpredcomp/ and http://www.mdpi.com/si/games/predict-behavior/). The competition is based on two experiments: An estimation...
View Details
Keywords:
Experience and Expertise;
Decision Choices and Conditions;
Forecasting and Prediction;
Learning;
Market Entry and Exit;
Game Theory;
Behavior;
Competition
Erev, Ido, Eyal Ert, and Alvin E. Roth. "A Choice Prediction Competition for Market Entry Games: An Introduction." Special Issue on Predicting Behavior in Games. Games 1, no. 2 (June 2010): 117–136.
- 2009
- Working Paper
Systemic Risk and the Refinancing Ratchet Effect
By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market—rising home prices, declining interest rates, and near-frictionless refinancing opportunities—led to vastly increased systemic risk in the financial system. Individually, each of these trends is...
View Details
- 2009
- Working Paper
Systemic Risk and the Refinancing Ratchet Effect
By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market-rising home prices, declining interest rates, and near-frictionless refinancing opportunities-led to vastly increased systemic risk in the financial system. Individually, each of these trends is...
View Details
Khandani, Amir E., Andrew W. Lo, and Robert C. Merton. "Systemic Risk and the Refinancing Ratchet Effect." Harvard Business School Working Paper, No. 10-023, September 2009. (Revised July 2010.)
- Research Summary
A Consistent Weighted Ranking Scheme with an Application to NCAA College Football Rankings (with Chaim Fershtman and Neil Gandal)
The NCAA college football ratings, in which the so-called national champion is determined, has been plagued by controversies the last few years. The difficulty arises because there is a need to make a complete ranking of teams even though each team has a different...
View Details
- Forthcoming
- Article
No Line Left Behind: Assortative Matching Inside the Firm
By: Achyuta Adhvaryu, Vittorio Bassi, Anant Nyshadham and Jorge Tamayo
How do firms pair workers with managers, and which constraints affect the allocation of labor within the firm? We characterize the sorting pattern of managers to workers in a large readymade garment manufacturer in India and then explore potential drivers of the...
View Details
- July–August 2020
- Article
Price Bargaining and Competition in Online Platforms: An Empirical Analysis of the Daily Deal Market
By: Lingling Zhang and Doug J. Chung
The prevalence of online platforms opens new doors to traditional businesses for customer reach and revenue growth. This research investigates platform choice in a setting where prices are determined by negotiations between platforms and businesses. We compile a unique...
View Details
Keywords:
Business-to-business Marketing;
Platform Competition;
Two-Sided Markets;
Price Bargaining;
Daily Deals;
Structural Model;
Digital Platforms;
Competition;
Price;
Negotiation
Zhang, Lingling, and Doug J. Chung. "Price Bargaining and Competition in Online Platforms: An Empirical Analysis of the Daily Deal Market." Marketing Science 39, no. 4 (July–August 2020): 687–706.
- February 2017
- Article
The Effect of Prohibiting Deal Protection on M&A Activity: Evidence from the United Kingdom
By: Fernán Restrepo and Guhan Subramanian
Since 2011, the UK has prohibited all deal protections—including termination fees—in M&A deals. Prior to 2011, the UK permitted termination fees up to 1% of deal value and there was no prohibition on other protection devices. We examine the effect of this regulatory...
View Details
Restrepo, Fernán, and Guhan Subramanian. "The Effect of Prohibiting Deal Protection on M&A Activity: Evidence from the United Kingdom." Journal of Law & Economics 60, no. 1 (February 2017): 75–113.
- 2021
- Working Paper
Who Benefits from Online Gig Economy Platforms?
By: Christopher Stanton and Catherine Thomas
Online labor platforms for short-term, remote work have many more job seekers than available jobs. Despite their relative abundance, workers capture a substantial share of the surplus from transactions. We draw this conclusion from demand estimates that imply workers'...
View Details
Keywords:
Gig Economy;
Knowledge Workers;
Online Platforms;
Employment;
Internet and the Web;
Governing Rules, Regulations, and Reforms;
Wages;
Digital Platforms
Stanton, Christopher, and Catherine Thomas. "Who Benefits from Online Gig Economy Platforms?" NBER Working Paper Series, No. 29477, November 2021. (Revise and Resubmit at American Economic Review.)
- Article
Scenario Generation for Long Run Interest Rate Risk Assessment
By: Robert F. Engle, Guillaume Roussellet and Emil N. Siriwardane
We propose a statistical model of the term structure of U.S. treasury yields tailored for long-term probability-based scenario generation and forecasts. Our model is easy to estimate and is able to simultaneously reproduce the positivity, persistence, and factor...
View Details
Keywords:
Forecasting;
Stress Testing;
Interest Rates;
Forecasting and Prediction;
Risk Management;
United States
Engle, Robert F., Guillaume Roussellet, and Emil N. Siriwardane. "Scenario Generation for Long Run Interest Rate Risk Assessment." Special Issue on Theoretical and Financial Econometrics: Essays in Honor of C. Gourieroux. Journal of Econometrics 201, no. 2 (December 2017): 333–347.