Filter Results
:
(31)
Show Results For
- All HBS Web (37)
- Faculty Publications (9)
Show Results For
- All HBS Web (37)
- Faculty Publications (9)
Page 1 of
31
Results
→
Sort by
- 1993
- Working Paper
Currency Hedging Over Long Horizons
By: K. A. Froot
This paper reexamines the widely-held wisdom that the currency exposure of international investments should be entirely hedged. It finds that the previously documented ability of hedges to reduce portfolio return variance holds at short horizons, but not at long...
View Details
- October 2013 (Revised September 2014)
- Case
The TELUS Share Conversion Proposal
By: Lucy White, Benjamin C. Esty and Lisa Mazzanti
On February 21, 2013, TELUS announced a proposal to convert the firm's non-voting shares into voting shares on a one-to-one basis, thereby eliminating the firm's dual class structure. Shareholders were scheduled to vote on the proposal at the firm's annual general...
View Details
Keywords:
Proxy Contest;
Proxy Battle;
Proxy Advisor;
ISS;
Glass Lewis & Co.;
Hedge Fund;
Short Selling;
Share Lending;
Telecommunications;
Voting Rights;
Empty Voting;
Equity Decoupling;
Share Unification;
Dual Class Shares;
Canada;
Exchange Ratio;
Shareholder Activism;
Shareholder Votes;
Investment Activism;
Public Equity;
Capital Structure;
Investment Return;
Corporate Governance;
Corporate Finance;
Ownership Stake;
Business and Shareholder Relations;
Valuation;
Telecommunications Industry;
Canada;
British Columbia;
United States;
New York (city, NY)
White, Lucy, Benjamin C. Esty, and Lisa Mazzanti. "The TELUS Share Conversion Proposal." Harvard Business School Case 214-001, October 2013. (Revised September 2014.)
- March 2014 (Revised May 2014)
- Teaching Note
The TELUS Share Conversion Proposal
By: Lucy White and Benjamin C. Esty
On February 21, 2013, TELUS announced a proposal to convert the firm's non-voting shares into voting shares on a one-to-one basis, thereby eliminating the firm's dual class structure. Shareholders were scheduled to vote on the proposal at the firm's annual general...
View Details
Keywords:
Proxy Contest;
Proxy Battle;
Proxy Advisor;
ISS;
Glass Lewis & Co.;
Hedge Fund;
Short Selling;
Share Lending;
Telecommunications;
Voting Rights;
Empty Voting;
Equity Decoupling;
Share Unification;
Dual Class Shares;
Canada;
Exchange Ratio;
Shareholder Activism;
Shareholder Votes;
Investment Activism;
Public Equity;
Capital Structure;
Investment Return;
Corporate Governance;
Corporate Finance;
Ownership Stake;
Business and Shareholder Relations;
Valuation;
Telecommunications Industry;
Canada;
British Columbia;
United States;
New York (city, NY)
- September 1997 (Revised May 1999)
- Case
Precision Controls, Inc.
By: James K. Sebenius and David T. Kotchen
Precision Controls is a Minnesota-based manufacturer of electronic control devices. To enhance its product line, Precision would like to establish an artificial intelligence research group, either through internal development or, preferably, by merging with or...
View Details
Keywords:
Information Technology;
Valuation;
Research and Development;
Negotiation Process;
Stock Shares;
Negotiation Tactics;
Mergers and Acquisitions;
Manufacturing Industry;
Electronics Industry;
Minnesota
Sebenius, James K., and David T. Kotchen. "Precision Controls, Inc." Harvard Business School Case 898-046, September 1997. (Revised May 1999.)
- September 1997 (Revised May 1999)
- Case
Automated Intelligence Corporation
By: James K. Sebenius and David T. Kotchen
Precision Controls is a Minnesota-based manufacturer of electronic control devices. To enhance its product line, Precision would like to establish an artificial intelligence research group, either through internal development or, preferably, by merging with or...
View Details
Keywords:
Information Technology;
Valuation;
Research and Development;
Stock Shares;
Negotiation Process;
Negotiation Tactics;
Mergers and Acquisitions;
Manufacturing Industry;
Electronics Industry;
Minnesota
Sebenius, James K., and David T. Kotchen. "Automated Intelligence Corporation." Harvard Business School Case 898-045, September 1997. (Revised May 1999.)
- 10 Aug 2015
- Research & Ideas
Why a Federal Rule on CEO Pay Disclosure May Get You In Trouble With Customers
check. In sheer terms of gaining favor among consumers, a firm with a high CEO-to-worker pay ratio must offer a substantial 50 percent discount to keep up with a firm that maintains a low pay ratio. This is among the key findings in the...
View Details
- Article
Analyzing Scrip Systems
By: Kris Johnson, David Simchi-Levi and Peng Sun
Scrip systems provide a nonmonetary trade economy for exchange of resources. We model a scrip system as a stochastic game and study system design issues on selection rules to match potential trade partners over time. We show the optimality of one particular rule in...
View Details
Keywords:
"Repeated Games";
Stochastic Trust Game;
Dynamic Program;
P2P Lending;
Scrip Systems;
Artificial Currency;
Non-monetary Trade Economies;
Marketplace Matching;
Currency;
Operations;
Game Theory
Johnson, Kris, David Simchi-Levi, and Peng Sun. "Analyzing Scrip Systems." Operations Research 62, no. 3 (May–June 2014): 524–534.
- Research Summary
Overview
By: Ethan C. Rouen
Relying on empirical archival methodologies—as well as techniques in data science—to develop and structure new sources of data by which to approach questions of looming disclosure changes, Professor Rouen has focused on one of the Securities and Exchange Commission’s...
View Details
- 17 Jan 2018
- Research & Ideas
If the CEO’s High Salary Isn't Justified to Employees, Firm Performance May Suffer
the issue because the US Securities and Exchange Commission in September 2017 adopted a rule stemming from the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rule mandates that companies disclose the View Details
Keywords:
by Dina Gerdeman
- 23 Aug 2011
- First Look
First Look: August 23
measured by the maximum Sharpe ratio achievable. We propose a model in which menu setters differ in their ability to preselect the menu. We show that when the cost of increasing the menu size is sufficiently small, a lower-ability menu...
View Details
Keywords:
Sean Silverthorne
- 20 Nov 2012
- First Look
First Look: November 20
the firms they regulate, but not exclusively via dyadic exchanges as is traditionally argued in the regulatory capture and business-government literatures. Instead, regulatory decisions are indirectly shaped via third-party actors who...
View Details
Keywords:
Sean Silverthorne
- 21 Nov 2006
- First Look
First Look: November 21, 2006
high tax costs when repatriating earnings. Estimates indicate that a one standard deviation increase in the tax burden from repatriating foreign income is associated with a 7.9% increase in the ratio of cash to net assets. In addition,...
View Details
Keywords:
Sean Silverthorne
- 10 Jul 2000
- Research & Ideas
The State of the Markets
Stock Exchange (NYSE); and Robert C. Gasser, managing director and head of U.S. equities at J. P. Morgan & Co. Financial exchanges today, Seifert began, must have the business systems of a technology...
View Details
Keywords:
by James E. Aisner
- 06 Nov 2012
- First Look
First Look: November 6
with higher level of CEO pay, greater emphasis on incentive-based compensation, and smaller pay gap with U.S. firms. Using a sample of CEOs of UK firms and using both broad cross-sectional and narrow event-window tests, we find that capital market relationship in the...
View Details
Keywords:
Sean Silverthorne
- 05 Sep 2000
- What Do You Think?
Whither the Information Economy?
founder of Napster, would probably agree with the assertion. While Harlan Cleveland foresaw the dimensions of the Information Economy, what he may have underestimated was the ease with which information, proprietary or not, could be transmitted and View Details
Keywords:
by James Heskett
- 20 Jan 2017
- Research & Ideas
Here’s How Businessman Trump Is Likely to Approach the Presidency
especially on profit-shifting, and only middle-of-the-pack average tax rates. The ratio of tax- induced distortions to revenue is creeping higher every year. The individual tax side of things is not quite as broken, but is overgrown and...
View Details
Keywords:
by Christina Pazzanese
- 23 Dec 2013
- Research & Ideas
Just How Independent are ‘Independent’ Directors?
rock the boat when they are leaving," speculates Ma. By contrast, when Ma and Khanna measured the effects of firm performance on likelihood of dissent, they found a much lower correlation. A one unit increase in the ratio of a firm's...
View Details
Keywords:
by Michael Blanding
- 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 lower leverage ratios than the...
View Details
Keywords:
Carmen Nobel
- 29 Jan 2019
- First Look
New Research and Ideas, January 29, 2019
of countries with deteriorated corporate financial fragility indicators (Altman’s Z-score). Firm size plays a critical role in the relationship between leverage, firm fragility, and exchange rate movements in emerging markets. While the...
View Details
Keywords:
Dina Gerdeman
- 08 May 2012
- First Look
First Look: May 8
gaming of Securities and Exchange Commission rules by Citigroup's mortgage-banking desk in 2007 is an illuminating example of institutional corruption in the finance industry. After exploring that case, I provide a more complete...
View Details
Keywords:
Carmen Nobel