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All HBS Web
(2,092)
- Faculty Publications (378)
- October 2008
- Article
It's Time to Make Management a True Profession
By: Nitin Nohria and Rakesh Khurana
In the face of the recent institutional breakdown of trust in business, managers are losing legitimacy. To regain public trust, management needs to become a true profession in much the way medicine and law have, argue Khurana and Nohria of Harvard Business School. True...
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Keywords:
Competency and Skills;
Education;
Ethics;
Corporate Accountability;
Management;
Trust;
Value Creation
Nohria, Nitin, and Rakesh Khurana. "It's Time to Make Management a True Profession." Harvard Business Review 86, no. 10 (October 2008).
- 2008
- Working Paper
Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry
By: Karl A Muller III, Edward J. Riedl and Thorsten Sellhorn
We examine the causes and consequences of European real estate firms' decisions to provide investment property fair values prior to the required disclosure of this information under International Financial Reporting Standards (IFRS). We find evidence that investor...
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Keywords:
Fair Value Accounting;
Financial Reporting;
International Accounting;
Corporate Disclosure;
Standards;
Real Estate Industry;
European Union
Muller, Karl A., III, Edward J. Riedl, and Thorsten Sellhorn. "Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry." Harvard Business School Working Paper, No. 09-033, September 2008.
- Article
MIT Roundtable on Corporate Risk Management
By: Robert C. Merton
Against the backdrop of financial crisis, a distinguished group of academics and practitioners discusses the contribution of financial management and innovation to corporate growth and value, along with the pitfalls and unintended consequences of such innovation.... View Details
Keywords:
Financial Crisis;
Market Participation;
Finance;
Innovation and Invention;
Growth and Development Strategy;
Value;
Distribution;
Capital Structure;
Risk Management;
Business Ventures;
Business Model;
Strategy
Merton, Robert C. "MIT Roundtable on Corporate Risk Management." Journal of Applied Corporate Finance 20, no. 4 (Fall 2008): 20–38.
- 2008
- Working Paper
Some Neglected Axioms in Fair Division
By: John W. Pratt
Conditions one might impose on fair allocation procedures are introduced. Nondiscrimination requires that agents share an item in proportion to their entitlements if they receive nothing else. The "price" procedures of Pratt (2007), including the Nash...
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Pratt, John W. "Some Neglected Axioms in Fair Division." Harvard Business School Working Paper, No. 08-094, May 2008.
- March 2008 (Revised December 2011)
- Case
IBM Values and Corporate Citizenship
IBM's transformation into a globally integrated enterprise (GIE) began with a conviction about what should never change. Since its founding in 1911, the company operated under a set of principles articulated by founder Thomas Watson and became known for a strong...
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Keywords:
Values and Beliefs;
Globalized Firms and Management;
Technological Innovation;
Leading Change;
Corporate Social Responsibility and Impact;
Organizational Change and Adaptation;
Organizational Culture;
Integration
Kanter, Rosabeth M. "IBM Values and Corporate Citizenship." Harvard Business School Case 308-106, March 2008. (Revised December 2011.)
- February 2008
- Teaching Note
Silic (TN) (A) and (B): Choosing Cost or Fair Value on Adoption of IFRS
By: David F. Hawkins, Edward J. Riedl, Vincent Dessain and Andrew Barron
Teaching Note for 108-030 and 108-031.
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- December 2007
- Article
Applying Modern Risk Management to Equity and Credit Analysis
By: Robert C. Merton
Traditional conventions of accounting and actuarial science distort the valuation of capital risk in corporations with pension plans because under these conventions, pension assets and liabilities are not included in balance sheet calculations. The modern risk...
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Keywords:
Risk Management;
Valuation;
Financial Reporting;
Decision Making;
Credit;
Financial Statements;
Capital;
Equity;
Compensation and Benefits
Merton, Robert C. "Applying Modern Risk Management to Equity and Credit Analysis." CFA Institute Conference Proceedings Quarterly 24 (December 2007): 14–22.
- December 2007
- Article
Fair (and Not So Fair) Division
By: John W. Pratt
Drawbacks of existing procedures are illustrated and a method of efficient fair division is proposed that avoids them. Given additive participants' utilities, each item is priced at the geometric mean (or some other function) of its two highest valuations. The...
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Pratt, John W. "Fair (and Not So Fair) Division." Journal of Risk and Uncertainty 35, no. 3 (December 2007).
- November 2007 (Revised May 2008)
- Case
Haier Hefei Electronics Co. (A)
By: Lynn Sharp Paine
The Haier Group, the first mainland Chinese company to make the Financial Times list of Asia's "most admired companies," attributes its success in large measure to the new value system it has sought to instill throughout the organization. However, when Haier takes over...
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Keywords:
Public Ownership;
Business and Government Relations;
Organizational Culture;
Transformation;
Ethics;
Labor and Management Relations;
Business or Company Management;
Contracts;
Electronics Industry;
China
Paine, Lynn Sharp. "Haier Hefei Electronics Co. (A)." Harvard Business School Case 308-075, November 2007. (Revised May 2008.)
- November 2007
- Article
A Model of Consumer Learning for Service Quality and Usage
By: Raghuram Iyengar, Asim Ansari and Sunil Gupta
In many services, e.g., the wireless service industry, consumers choose a service plan based on their expected consumption. In such situations, consumers experience two forms of uncertainty. First, consumers may be uncertain about the quality of their service provider...
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Keywords:
Experience and Expertise;
Customer Value and Value Chain;
Learning;
Price;
Knowledge Use and Leverage;
Marketing Strategy;
Consumer Behavior;
Service Delivery;
Quality;
Risk and Uncertainty;
Service Industry
Iyengar, Raghuram, Asim Ansari, and Sunil Gupta. "A Model of Consumer Learning for Service Quality and Usage." Journal of Marketing Research (JMR) 44, no. 4 (November 2007): 529–544.
- 2007
- Book
An Experiment in Fair Value Accounting? The State of the Art in Research and Thought Leadership on Accounting for Life Assurance in the UK and Continental Europe
By: Joanne G Horton, Richard H. Macve and George Serafeim
"Fair value" is currently the central topic of debate in the development of accounting standards. While it has now been defined to mean an exit price in US GAAP, the IASB is still considering its own definition, and some commentators are arguing for versions of entry...
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Keywords:
Transition;
Financial Instruments;
Framework;
Market Entry and Exit;
Insurance;
Revenue Recognition;
Fair Value Accounting;
Standards;
United Kingdom
Horton, Joanne G., Richard H. Macve, and George Serafeim. An Experiment in Fair Value Accounting? The State of the Art in Research and Thought Leadership on Accounting for Life Assurance in the UK and Continental Europe. London, UK: Institute of Chartered Accountants in England and Wales, Centre for Business Performance, 2007.
- 2007
- Text Book
Business Analysis and Valuation: Using Financial Statements
By: Paul M. Healy and Krishna G. Palepu
Financial statements are the basis for a wide range of business analysis. Managers, securities analysts, bankers, and consultants all use them to make business decisions. There is strong demand among business students for course materials that provide a framework for...
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Healy, Paul M., and Krishna G. Palepu. Business Analysis and Valuation: Using Financial Statements. 4th ed. Mason, OH: Thomson South-Western, 2007.
- April 2007 (Revised April 2008)
- Case
Corrections Corporation of America
By: Edward J. Riedl
This case illustrates a comprehensive valuation of a publicly traded firm specializing in building and managing prisons. Students must assess the firm's strategy and risks, evaluate key financial reports, derive forecasts of future performance, and use these forecasts...
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Keywords:
Financial Statements;
Buildings and Facilities;
For-Profit Firms;
Crime and Corruption;
Forecasting and Prediction;
Risk Management;
Valuation;
Construction Industry;
Public Administration Industry;
Service Industry
Riedl, Edward J. "Corrections Corporation of America." Harvard Business School Case 107-071, April 2007. (Revised April 2008.)
- January 2007 (Revised October 2007)
- Case
The Omidyar-Tufts Microfinance Fund: Striving to Reshape the Social Enterprise Capital Markets
By: Michael Chu and Jean Hazell
Seeking to impact global poverty and philanthropy, eBay founder Pierre Omidyar donates $100 million to Tufts University for a trust restricted to investment in microfinance. Explores the origins of the initiative, the perspectives and objectives of the various parties...
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Keywords:
Capital Markets;
Microfinance;
Investment Funds;
Philanthropy and Charitable Giving;
Emerging Markets;
Social Enterprise;
Financial Services Industry
Chu, Michael, and Jean Hazell. "The Omidyar-Tufts Microfinance Fund: Striving to Reshape the Social Enterprise Capital Markets." Harvard Business School Case 307-078, January 2007. (Revised October 2007.)
- October 2006
- Article
Location Choices across the Value Chain: How Activity and Capability Influence Collocation
By: Juan Alcacer
There has been a recent revival of interest in the geographic component of firm strategy. Recent research suggests that two opposing forces—competition costs and agglomeration benefits—determine whether firms collocate in a given geographic market. Unexplored is (1)...
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Keywords:
Business Strategy;
Competitive Strategy;
Sales;
Research and Development;
Cost Accounting;
Cost Management;
Markets;
Production;
Organizational Change and Adaptation;
Distribution;
Cost vs Benefits;
SWOT Analysis;
Telecommunications Industry
Alcacer, Juan. "Location Choices across the Value Chain: How Activity and Capability Influence Collocation." Management Science 52, no. 10 (October 2006): 1457–1471.
- September 2006
- Exercise
Earnings Management Exercise
By: Malcolm P. Baker
Students act as managers or investors. Managers have the ability to manipulate reported earnings, and investors must bid for shares taking this into account.
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Baker, Malcolm P. "Earnings Management Exercise." Harvard Business School Exercise 207-034, September 2006.
- August 2006
- Article
Predicting Returns with Managerial Decision Variables: Is There a Small-Sample Bias?
By: Malcolm Baker, Ryan Taliaferro and Jeffrey Wurgler
Many studies find that aggregate managerial decision variables, such as aggregate equity issuance, predict stock or bond market returns. Recent research argues that these findings may be driven by an aggregate time-series version of Schultz's (2003, Journal of Finance...
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Keywords:
Prejudice and Bias;
Fairness;
Managerial Roles;
Management Analysis, Tools, and Techniques;
Equity;
Bonds;
Financial Markets;
Investment;
Capital Markets;
Borrowing and Debt;
Investment Return
Baker, Malcolm, Ryan Taliaferro, and Jeffrey Wurgler. "Predicting Returns with Managerial Decision Variables: Is There a Small-Sample Bias?" Journal of Finance 61, no. 4 (August 2006): 1711–1730. (Section V of "Pseudo Market Timing and Predictive Regressions, NBER Working Paper Series, No. 10823, contains additional analyses.)
- April 2006 (Revised November 2020)
- Background Note
Time-Driven Activity-Based Costing
By: Robert S. Kaplan
Introduces the role for time-driven activity-based costing. Identifies the value from an accurate costing model, describes the difficulties of traditional ABC, and illustrates how time-driven ABC provides a simpler and more powerful method.
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Kaplan, Robert S. "Time-Driven Activity-Based Costing." Harvard Business School Background Note 106-068, April 2006. (Revised November 2020.)
- April 2006 (Revised October 2006)
- Case
Best Buy Co., Inc.: Customer-Centricity
By: Rajiv Lal, Carin-Isabel Knoop and Irina Tarsis
With FY2005 sales of $27.3 billion, Richfield, Minn.-based Best Buy Co., Inc. was the leading retailer of consumer electronics, home-office products, and related services in North America. Its operations included the distinct store formats Best Buy, Future Shop in...
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Keywords:
Customer Focus and Relationships;
Service Operations;
Business Earnings;
Financial Crisis;
Failure;
Business Model;
Leadership;
Segmentation;
Value Creation;
Electronics Industry;
United States;
Canada;
Mongolia
Lal, Rajiv, Carin-Isabel Knoop, and Irina Tarsis. "Best Buy Co., Inc.: Customer-Centricity." Harvard Business School Case 506-055, April 2006. (Revised October 2006.)
- April 2006 (Revised April 2012)
- Background Note
The Role of Private Equity Firms in Merger and Acquisition Transactions
Explores the importance of private equity firms in merger and acquisitions activity around the globe. In many countries, these firms now account for one quarter of the total merger and acquisition activity of all firms. The larger private equity firms generate fees for...
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Keywords:
Leveraged Buyouts;
Mergers and Acquisitions;
Private Equity;
Investment Funds;
Value Creation
Fruhan, William E., Jr. "The Role of Private Equity Firms in Merger and Acquisition Transactions." Harvard Business School Background Note 206-101, April 2006. (Revised April 2012.)