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- All HBS Web (154)
- Faculty Publications (56)
- 04 Oct 2007
- What Do You Think?
Has Managerial Capitalism Peaked?
transfer of wealth from public investors to the hands of business leaders, corporate insiders, and financial intermediaries." Headlines remind us of very large payouts to CEOs, regardless of their performance. (In fact, it could be...
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by Jim Heskett
- 07 Aug 2007
- First Look
First Look: August 7, 2007
complete abandonment of the current system. Download the paper: http://papers.nber.org/papers/W13213 Institutional Tax Clienteles and Payout Policy Authors:Mihir A. Desai and Li Jin Abstract This paper employs heterogeneity in...
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Martha Lagace
- 03 Jan 2017
- First Look
January 3, 2017
and suburban areas. Download working paper: https://pubwww.hbs.edu/faculty/Pages/item.aspx?num=52059 Financing Payouts By: Farre-Mensa, Joan, Roni Michaely, and Martin Schmalz Abstract—We study the extent to which firms rely on the capital...
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Carmen Nobel
- 21 Feb 2017
- First Look
First Look at New Research: February 21
shareholders more than $3.95 trillion via stock buybacks and $2.45 trillion via dividends—$6.4 trillion in total. These shareholder payouts amounted to over 93% of the firms' net income. Academics, corporate lawyers, asset managers, and...
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Carmen Nobel
- Web
Supplemental Financial Information - Annual Report 2016
support operations in accordance with the donors’ intentions and the terms of each gift. The University determines each year’s endowment payout rate—that is, the percentage of the endowment’s prior-year market value withdrawn and...
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- Web
Supplemental Financial Information - Financial Report 2015
each gift. The University determines each year’s endowment payout rate—that is, the percentage of the endowment’s prior-year market value withdrawn and distributed for operations and for one-time or time-limited strategic purposes. This...
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- Web
Supplemental Financial Information - Annual Report 2017
University determines each year’s endowment payout rate—that is, the percentage of the endowment’s prior year-end market value withdrawn and distributed annually for operations and for one-time or time-limited strategic purposes. This...
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- 02 Dec 2002
- What Do You Think?
How Will We Respond to the “Moment of Truth” in Option Plans?
largest organizations an average of 30 percent of all options granted. This occurred despite evidence suggesting that beyond a certain size of grant (well below the "mega" level) there is a much greater payout from granting...
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by James Heskett
- 12 Jun 2018
- First Look
New Research and Ideas, June 12, 2018
$2.8 trillion via dividends—$7 trillion in total. These shareholder payouts amounted to over 96% of the firms' net income. Academics, corporate lawyers, asset managers, and politicians point to such shareholder-payout figures as...
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Dina Gerdeman
- 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
- 28 Nov 2016
- Research & Ideas
Challenging the Belief that Liability Laws Kill Medical Device Innovation
if the payout is less than certain amount,” says Luo. Pressure on patents In order to determine those effects on innovation, Luo and Galasso obtained data from the American Tort Reform Association on tort reform efforts between 1985 and...
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- 30 Aug 2006
- Op-Ed
The Compensation Game
payments or deferred-compensation arrangements that serve to obscure total pay. And when clubs get rid of poorly-performing players, they do not generally provide them with the equivalent of a golden parachute—a payout that is common...
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by Lucian Bebchuk & Rakesh Khurana
- 30 Sep 2014
- First Look
First Look: September 30
the puzzle of low adoption, we show that payouts improve trust in the product and that farmers shield payouts from claims by relatives. Download working paper:...
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Sean Silverthorne
- Web
CFO Letter - Annual Report 2017
flexibility and security that current use gifts provide. The 2 percent investment loss experienced by the Harvard endowment in fiscal 2016 also presents a challenge for HBS and other Harvard schools. Endowment investment returns drive the View Details
- 17 Feb 2014
- Research & Ideas
Companies Detangle from Legacy Pensions
Prudential, which then promised to make good on the benefit payouts in the form of guaranteed annuities. The deal made sense—after all, who better than insurance companies to estimate life expectancy and long-term risk. And by pooling the...
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- 28 Nov 2012
- What Do You Think?
Should Pay-for-Performance Compensation be Replaced?
new potential problems to the process? Can the effectiveness of pay for performance be improved by extending payout periods or determining performance on non-financial criteria? Or should reliance on pay for performance be reduced in the...
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by James Heskett
- 01 Dec 2015
- News
Giving Advice
allowed to make program-related investments (PRIs), which “count” against your 5 percent annual payout requirement. I am developing an educational project that will require an investment in several Eastern countries in excess of $300...
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- 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
- 29 Sep 2009
- First Look
First Look: September 29
Working PapersLocal Dividend Clienteles Authors:Bo Becker, Zoran Ivkovich, and Scott WeisbennerNBER Working Paper Series, No. 15175, July 2009 Abstract We exploit demographic variation to identify the effect of dividend demand on firm View Details
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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