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- All HBS Web (67)
- Faculty Publications (23)
- 07 Dec 2010
- First Look
First Look: Dec. 7
implemented in the SEC's August 2010 rule. Download the paper: http://www.hbs.edu/research/pdf/11-052.pdf Payout Taxes and the Allocation of Investment Authors:Bo Becker, Marcus Jacob, and Martin Jacob Abstract When corporate View Details
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Sean Silverthorne
- Web
Supplemental Financial Information - Annual Report 2014
schools, are managed by Harvard Management Company (HMC), a subsidiary governed and wholly owned by the University. The University determines the payout rate— that is, the percentage of the endowment withdrawn in any given year and...
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- 17 Apr 2012
- First Look
First Look: April 17
responsibility for securing these materials. Working PapersPayout Taxes and the Allocation of Investment Authors:Bo Becker, Marcus Jacob, and Martin Jacob Abstract When corporate payout is taxed, internal equity (retained earnings) is...
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Carmen Nobel
- 03 Jan 2017
- First Look
January 3, 2017
January 2017 Journal of Financial Economics The Unintended Consequences of the Zero Lower Bound Policy By: Di Maggio, Marco, and Marcin Kacperczyk Abstract—We study the impact of the zero lower bound interest rate View Details
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Carmen Nobel
- 31 Jul 2012
- First Look
First Look: July 31
development. Payout Taxes and the Allocation of Investment Authors:Bo Becker, Marcus Jacob, and Martin Jacob Publication:Journal of Financial Economics (forthcoming) Abstract When corporate payout is taxed,...
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Carmen Nobel
- Web
HBS - Financials | Supplemental Financial Information
deferral and leave policies granted by HBS to first-year and second-year students in fiscal 2021, during the peak of the COVID pandemic. With both classes including deferred students in fiscal 2023, total enrollment increased 8 percent to...
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- 21 Feb 2017
- First Look
First Look at New Research: February 21
insight from behavioral economists and organizational consultants is also included. Publisher's link: https://pubwww.hbs.edu/faculty/Pages/item.aspx?num=52264 December 2016 Journal of Business and Policy Research Corporate Sponsorship in...
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Carmen Nobel
- 20 Jan 2010
- First Look
First Look: Jan. 20
their firms as small firms when investors favor small firms. Local Dividend Clienteles Authors:Bo Becker, Zoran Ivkovic, and Scott Weisbenner Publication:Journal of Finance (forthcoming) Abstract We exploit demographic variation to identify the effect of dividend...
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Martha Lagace
- 27 Aug 2013
- First Look
First Look: August 27
fraction of their wealth increases annuitization relative to a situation where annuitization is an "all or nothing" decision. Very few respondents choose declining real payout streams over flat or increasing real View Details
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Sean Silverthorne
- 01 Sep 2015
- First Look
First Look -- September 1, 2015
debt increases exogenously and they use the proceeds of equity issues to increase payouts to shareholders. Our evidence suggests that extant findings that have been attributed to constraints may instead reflect differences in the growth...
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Sean Silverthorne
- 24 Nov 2014
- Research & Ideas
Corrupting Silence: Companies Must Speak Up Against Bribes
business world with revelations it had been paying bribes for contracts on a massive scale—eventually admitting to payouts in 60 percent of its markets, totaling $130 million to $275 million a year. Shopping trips to Hong Kong were the...
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by Michael Blanding
- 12 Jun 2018
- First Look
New Research and Ideas, June 12, 2018
Milan in the late 1700s to recover the Academy’s ideas and the policies they informed. At the core of their preoccupations lay the often lethal tension among states, markets, and human welfare in an era when the three were becoming...
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Dina Gerdeman
- 27 Feb 2018
- First Look
First Look at New Research and Ideas, February 27, 2018
distribution. We also find that households’ consumption is significantly more responsive to dividend payouts across all parts of the wealth distribution. Our findings are broadly consistent with near-rational behavior in which households...
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Sean Silverthorne
- 10 Mar 2009
- First Look
First Look: March 10, 2009
variability than was the case historically. Under the new policy, dividends would be tied to the company's underwriting results, its performance relative to predetermined goals, and a target payout ratio. Progressive's new View Details
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Martha Lagace
- 13 Oct 2015
- First Look
October 13, 2015
tax savings. We find that 2,281 top executives strategically realized their built-in capital gains prior to the tax hikes to save nearly $741 million in personal taxes in 2012. These executives also (1) make payout View Details
- 23 Jun 2009
- First Look
First Look: June 23
attention to the returns of firms that do not issue at all, suggesting that issuance is partly an attempt to cater to broad time-varying patterns in characteristics mispricing. Our approach helps forecast returns to portfolios based on book-to-market (HML), size (SMB),...
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Martha Lagace
- 30 Jun 2009
- First Look
First Look: June 30
non-local investments suggests that policy makers in regions without local venture capitalists might want to mitigate costs associated with established venture capitalists investing in their geographies rather than encouraging the...
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Martha Lagace
- 18 May 2010
- First Look
First Look: May 18
payout policy, profitability, and industry. We consider interpretations of these results based on both time-varying risk premia and mispricing. Our results are primarily consistent with the view that firms issue and repurchase shares to...
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Martha Lagace
- 01 Jun 2010
- News
M.I.A. Boards
Fuld told analysts, “I must say the board’s been wonderfully supportive.” The next day the board approved $100 million in payouts to five executives. Four days later the 159-year-old company declared the largest bankruptcy in U.S....
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- 11 Jan 2011
- First Look
First Look: Jan. 11
SMB factors), and industry, our approach is also useful for forecasting factor returns associated with distress, payout policy, and profitability. Read the paper: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1572174 Are You a Good...
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Sean Silverthorne