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- All HBS Web (156)
- Faculty Publications (56)
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- All HBS Web (156)
- Faculty Publications (56)
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- July 2002 (Revised January 2003)
- Case
Harrah's Entertainment, Inc: Rewarding Our People
By: Thomas J. DeLong and Vineeta Vijayaraghavan
Marilyn Winn, head of human resources at Harrah's Entertainment, must make a recommendation to the company's president and CEO about whether the existing bonus payout program is effective at motivating employees or whether it should be revised and/or replaced. A recent...
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Keywords:
Customer Satisfaction;
Economic Slowdown and Stagnation;
Compensation and Benefits;
Employees;
Human Capital;
Management Style;
Motivation and Incentives;
Alignment;
Entertainment and Recreation Industry
DeLong, Thomas J., and Vineeta Vijayaraghavan. "Harrah's Entertainment, Inc: Rewarding Our People." Harvard Business School Case 403-008, July 2002. (Revised January 2003.)
- May 2014
- Article
Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment
By: Shawn A. Cole, Daniel Stein and Jeremy Tobacman
This paper estimates how experimentally-manipulated experiences with a novel financial product, rainfall index insurance, affect subsequent insurance demand. Using a seven-year panel, we develop three main findings. First, recent experience matters for demand,...
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Cole, Shawn A., Daniel Stein, and Jeremy Tobacman. "Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment." American Economic Review: Papers and Proceedings 104, no. 5 (May 2014): 284–290.
- 2013
- Working Paper
How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment
By: Shawn Cole, Xavier Gine and James Vickery
Weather is a key source of income risk, particularly in emerging market economies. This paper uses a randomized controlled trial involving a sample of Indian farmers to study how an innovative rainfall insurance product affects production decisions. We find that...
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Keywords:
Risk Management;
Production;
Weather;
Insurance;
Emerging Markets;
Agribusiness;
Insurance Industry;
Agriculture and Agribusiness Industry;
India
Cole, Shawn, Xavier Gine, and James Vickery. "How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment." Harvard Business School Working Paper, No. 13-080, March 2013. (Revised September 2014.)
- 30 Nov 2020
- Working Paper Summaries
Short-Termism, Shareholder Payouts, and Investment in the EU
Keywords:
by Jesse M. Fried and Charles C.Y. Wang
- August 2014
- Article
What Makes Annuitization More Appealing?
By: John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian and Stephen P. Zeldes
We conduct and analyze two large surveys of hypothetical annuitization choices. We find that allowing individuals to annuitize a fraction of their wealth increases annuitization relative to a situation where annuitization is an "all or nothing" decision. Very few...
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Beshears, John, James J. Choi, David Laibson, Brigitte C. Madrian, and Stephen P. Zeldes. "What Makes Annuitization More Appealing?" Special Issue on NBER Pensions. Journal of Public Economics 116 (August 2014): 2–16.
- April 2018 (Revised June 2020)
- Case
Tesla's CEO Compensation Plan
By: Krishna G. Palepu and Sarah Mehta
Tesla’s board of directors proposed an unusual compensation plan for the company’s CEO Elon Musk. The plan payouts were entirely contingent on achieving very ambitious market value, sales, and EBIT targets over the next ten years. If all the targets were achieved,...
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Keywords:
CEO Compensation;
Compensation Committee;
Corporate Governance;
Executive Compensation;
Governing and Advisory Boards;
Business and Shareholder Relations;
Auto Industry;
United States
Palepu, Krishna G., and Sarah Mehta. "Tesla's CEO Compensation Plan." Harvard Business School Case 118-085, April 2018. (Revised June 2020.)
- October 2003 (Revised February 2004)
- Case
Dividend Policy at Linear Technology
By: Malcolm P. Baker and Alison Berkley Wagonfeld
In 1992, Linear Technology, a designer and manufacturer of analog semiconductors, initiated a dividend. The firm increased its dividend by approximately $0.01 per share each year thereafter. In fiscal year 2002, Linear experienced its first significant drop in sales...
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Keywords:
Financial Strategy;
Investment Return;
Financial Condition;
Taxation;
Initial Public Offering;
Financial Management;
Semiconductor Industry
Baker, Malcolm P., and Alison Berkley Wagonfeld. "Dividend Policy at Linear Technology." Harvard Business School Case 204-066, October 2003. (Revised February 2004.)
- 23 Dec 2014
- First Look
First Look: December 23
descriptive methods. Download working paper: http://ssrn.com/abstract=2537079 Financing Payouts By: Farre-Mensa, Joan, Roni Michaely, and Martin C. Schmalz Abstract—Despite the obvious interest in payout...
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Keywords:
Carmen Nobel
- March 2011
- Article
What Do Dividends Tell Us About Earnings Quality
By: Douglas Skinner and Eugene F. Soltes
Over the past 30 years, there have been significant changes in the distribution of earnings (cross-sectional variation has increased, with increasing left skewness) as well as in corporate payout policy, with many fewer firms paying dividends and the emergence of stock...
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Keywords:
Distribution;
Business Earnings;
Change;
Policy;
Stocks;
Investment Return;
Performance Consistency;
Quality
Skinner, Douglas, and Eugene F. Soltes. "What Do Dividends Tell Us About Earnings Quality." Review of Accounting Studies 16, no. 1 (March 2011).
- November 2012 (Revised January 2014)
- Case
HCA, Inc. LBO Exit
This case discusses the events following the 2006 $33.2 billion buyout of Hospital Corporation of America (HCA) by a consortium of private equity firms, including Bain Capital, KKR, and Merrill Lynch's private equity arm. The case highlights some of the core features...
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Keywords:
Entrepreneurship;
Finance;
Stockholders;
Dividends;
Private Equity;
Initial Public Offering
Ivashina, Victoria. "HCA, Inc. LBO Exit." Harvard Business School Case 813-056, November 2012. (Revised January 2014.)
- August 2008
- Case
Progressive Corporation: Variable Dividends
By: Timothy A. Luehrman and Brenda W. Chia
In 2006, Progressive Corporation announced a change in its dividend policy. Henceforth, dividends would be paid annually rather than quarterly and, more importantly, would be set according to a formula that would result in considerably greater year-to-year variability...
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Keywords:
Capital Structure;
Policy;
Goals and Objectives;
Performance;
Business and Shareholder Relations;
Insurance Industry
Luehrman, Timothy A., and Brenda W. Chia. "Progressive Corporation: Variable Dividends." Harvard Business School Case 209-004, August 2008.
- May 2022
- Article
Can Gambling Increase Savings? Empirical Evidence on Prize-Linked Savings Accounts
By: Shawn A. Cole, Benjamin Iverson and Peter Tufano
This paper studies the adoption and impact of prize-linked savings (PLS) accounts, which offer lottery-like payouts to individual account holders in lieu of interest. Using microlevel data from a bank in South Africa, we show that PLS is attractive to a broad group of...
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Keywords:
Household Finance;
Banking;
Savings;
Prize-linked Savings;
Lottery;
Household;
Personal Finance;
Saving;
Banks and Banking
Cole, Shawn A., Benjamin Iverson, and Peter Tufano. "Can Gambling Increase Savings? Empirical Evidence on Prize-Linked Savings Accounts." Management Science 68, no. 5 (May 2022): 3282–3308.
- January 2013
- Article
Barriers to Household Risk Management: Evidence from India
By: Shawn A. Cole, Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert M. Townsend and James Vickery
Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and non-price factors in the adoption of an innovative rainfall insurance...
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Cole, Shawn A., Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert M. Townsend, and James Vickery. "Barriers to Household Risk Management: Evidence from India." American Economic Journal: Applied Economics 5, no. 1 (January 2013): 104–135.
- Article
Are Buybacks Really Shortchanging Investment?
By: Jesse M. Fried and Charles C.Y. Wang
It’s no secret that the American economy is suffering from the twin ills of slow growth and rising income inequality. Many lay the blame at the doors of America’s largest public corporations. The charge? These firms prefer to distribute cash generated from their...
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Keywords:
Economy;
Investment;
Stocks;
Business and Shareholder Relations;
Equality and Inequality;
United States
Fried, Jesse M., and Charles C.Y. Wang. "Are Buybacks Really Shortchanging Investment?" Harvard Business Review 96, no. 2 (March–April 2018): 88–95.
- 2017
- Article
Agricultural Insurance and Economic Development
By: Shawn A. Cole and Wentao Xiong
This article provides a review of recent research on agricultural insurance (AI) in developing countries. Agricultural producers face a variety of significant risks; historically, only government-subsidized products have achieved widespread adoption. A recent...
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Keywords:
Agribusiness;
Insurance;
Developing Countries and Economies;
Adoption;
Risk Management;
Research;
Agriculture and Agribusiness Industry
Cole, Shawn A., and Wentao Xiong. "Agricultural Insurance and Economic Development." Annual Review of Economics 9 (2017): 235–262.
- Research Summary
Do Measures of Financial Constraints Measure Financial Constraints?
Financial constraints are fundamental to empirical research in finance and economics. In joint work with Alexander Ljunqvist, we propose two novel tests to evaluate how well measures of financial constraints actually capture constraints. We find that firms...
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- Research Summary
Overview
Professor Becker’s research revolves around the way financing supply and financial conditions affect firm behavior, investment, and financing choices. His work on financial contracting has revealed that, in recent years, greater competition has tended to lower rather...
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- February 2016
- Article
Do Measures of Financial Constraints Measure Financial Constraints?
By: Joan Farre-Mensa and Alexander Ljungqvist
Financial constraints are fundamental to empirical research in finance and economics. We propose two tests to evaluate how well measures of financial constraints actually capture constraints. We find that firms typically classified as constrained do not in fact behave...
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Keywords:
Corporate Finance
Farre-Mensa, Joan, and Alexander Ljungqvist. "Do Measures of Financial Constraints Measure Financial Constraints?" Review of Financial Studies 29, no. 2 (February 2016): 271–308.
- 2010
- Other Unpublished Work
Share Issuance and Factor Timing
By: Robin Greenwood and Samuel Hanson
We show that characteristics of stock issuers can be used to forecast important common factors in stocks returns such as those associated with book-to-market, size, and industry. Specifically, we use differences between the attributes of stock issuers and repurchasers...
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Keywords:
Forecasting and Prediction;
Equity;
Stocks;
Stock Shares;
Investment Return;
Investment Portfolio;
Price;
Performance Evaluation
Greenwood, Robin, and Samuel Hanson. "Share Issuance and Factor Timing." December 2010. (Appendix. Previously titled "Characteristic Timing," NBER Working Paper Series, No. 15948.)
- March 2024
- Supplement
ELCA's Series A Cap Table Exercise (Student Version)
By: Raymond Kluender, Anke Becker and Johnson Elugbadebo
In ELCA, the company must decide between two term sheets: one put forth by STV and one put forth by ESV.
This exercise is an analysis of the implications of these two term sheets on the ownership structure and the payouts of common and preferred shareholders in...
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