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- Faculty Publications (95)
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- All HBS Web (230)
- Faculty Publications (95)
- 09 Sep 2013
- Lessons from the Classroom
Teaching Climate Change to Skeptics
and BEI faculty cochair Forest L. Reinhardt. "I don't think this ought to be treated as a religious question. I think it's better seen as a classic managerial question about decision-making under uncertainty." Indeed, nothing is certain, but scientific predictions are...
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by Carmen Nobel
- 25 Apr 2005
- Research & Ideas
New Learning at American Home Products
capabilities in maintaining and upgrading product portfolios through acquisition and divestiture. Acquisitions were financed almost wholly out of retained earnings and income received from divestitures. The resulting overall financial...
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- 23 May 2017
- First Look
First Look at New Ideas and Research: May 23, 2017
vulnerability indicators prior to the Asian Financial Crisis (AFC) attributed to corporate financial roots provide a benchmark for comparison. The firm-level data suggest that emerging markets post-GFC have...
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Carmen Nobel
- 18 Jul 2005
- Research & Ideas
Time to Rethink the Corporate Tax System?
compliance function to being a profit center. The ratio of corporate taxes to GDP declined through the late 1990s even during an economic expansion. There has been a growing disconnect between the income reports to capital markets and tax...
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by Ann Cullen
- 01 Dec 2022
- News
Case Study: Your Call Is Important to Us
explain how we have arrived at this point, he says: Businesses everywhere are short staffed, and call volumes are at record levels, so the human-to-call ratio doesn’t work in the customer’s favor. Plus, with wages as high as they are,...
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- 02 Apr 2013
- First Look
First Look: April 2
ratio and ROE. Applying the model to the cross-section of firms, we find that expected returns and expected profitability are highly persistent and time varying. Our fundamentals-implied estimates of expected returns across time horizons...
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Sean Silverthorne
- 24 Apr 2012
- First Look
First Look: April 24
would not be achieved even if the product offered a payout ratio comparable to U.S. insurance contracts. We present evidence suggesting that lack of trust, liquidity constraints, and limited salience are significant non-price frictions...
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Carmen Nobel
- 16 Apr 2013
- First Look
First Look: April 16
democratize information and change the way that stocks are traded, threatening the industry's product and business model. There were upheavals and stagnation in established core financial markets such as the U.S., Japan, and Western...
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Sean Silverthorne
- 12 Jul 2011
- First Look
First Look: July 12
debt for firms in the vicinity of financial distress. We show that this ruling increased the likelihood of equity issues, increased investment, and reduced firm risk, consistent with a decrease in debt-equity conflicts of interest. The...
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Carmen Nobel
- 22 Apr 2015
- Op-Ed
Reforming Greece: Myths and Truths
past few years (yes there are some). It is true that Greece reformed laws and regulations to make its economy more open to foreign trade and as a result more competitive. Trade (defined as the sum of exports and imports) to GDP ratio...
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by George Serafeim
- 13 Jan 2015
- First Look
First Look: January 13
obligations (CDOs) and private-label mortgage-backed securities (MBS) backed by nonprime loans played a central role in the recent financial crisis. Little is known, however, about the underlying forces that drove investor demand for...
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Sean Silverthorne
- 07 Dec 2010
- First Look
First Look: Dec. 7
by a (chronic or situational) productivity orientation. Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting Author:George Serafeim Publication:Journal of...
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Sean Silverthorne
- 21 Apr 2009
- First Look
First Look: April 21, 2009
Financial Literacy, Financial Decisions, and the Demand for Financial Services: Evidence from India and Indonesia Authors:Shawn Cole, Thomas Sampson, and Bilal Zia Abstract Why...
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Martha Lagace
- 19 Mar 2019
- First Look
New Research and Ideas, March 19, 2019
significant relation between the ratio of CEO-to-mean employee compensation and performance. I next create empirical models that allow me to separate the components of CEO and employee compensation explained by economic factors from those...
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Dina Gerdeman
- 26 Jul 2011
- First Look
First Look: July 26
by $2.1 trillion in 2010 dollars. By either measure, cash flows received from abroad exceeded 160% of net investments, implying that foreign investment over these periods was dynamically efficient. Download the paper: http://papers.nber.org/papers/w17202 Non-Audit...
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Sean Silverthorne
- 12 Dec 2006
- First Look
First Look: December 12, 2006
earnings. Estimates indicate that a one standard deviation increase in the tax burden from repatriating foreign income is associated with a 7.9 percent increase in the ratio of cash to net assets. In addition, certain firms, specifically...
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Martha Lagace
- 12 Jun 2019
- Research & Ideas
Investors Have More Than Money to Offer Entrepreneurs
team? Your investors have probably seen many different configurations and can help you get creative if you’re trying to land a key hire or to retain and motivate your current team. Other financial areas where investors can be helpful are...
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by Julia Austin
- 06 Mar 2018
- First Look
First Look at Research and Ideas, March 6, 2018
forthcoming Financial Analysts Journal Why and How Investors Use ESG Information: Evidence from a Global Survey By: Amel-Zadeh, Amir, and George Serafeim Abstract—Using survey data from a sample of senior investment professionals from...
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Sean Silverthorne
- 10 Dec 2013
- First Look
First Look: December 10
liquidation value is not directly intuitive, since intangibles are highly illiquid assets and have uncertain future cash flows. Can banks reliably secure corporate loans by intellectual property, and how can they alleviate the challenges in estimating a loan-to-value...
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Sean Silverthorne
- 07 Oct 2008
- First Look
First Look: October 7, 2008
the shares of agencies and receipts they represent. Second, concentration levels in 1997 and 2002 varied across the nine sectors comprising the A&MS industry, but all were within the range generally considered as indicative of a competitive industry. Third, we...
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Martha Lagace