More from these Authors

• Article | Journal of Financial Economics | 2013

  Learning and the Disappearing Association Between Governance and Returns

  Lucian A. Bebchuk, Alma Cohen and Charles CY Wang

  The correlation between governance indices and abnormal returns documented for 1990–1999 subsequently disappeared. The correlation and its disappearance are both due to market participants' gradually learning to appreciate the difference between good-governance and poor-governance firms. Consistent with learning, the correlation's disappearance was associated with increases in market participants' attention to governance; market participants and security analysts were, until the beginning of the 2000s but not subsequently, more positively surprised by the earning announcements of good-governance firms; and, although governance indices no longer generated abnormal returns during the 2000s, their negative association with firm value and operating performance persisted.

  Keywords: Corporate Governance; Investment Return; Operations; Performance; Value; Learning; Business Earnings; Behavioral Finance;

  Citation:

  Bebchuk, Lucian A., Alma Cohen, and Charles CY Wang. "Learning and the Disappearing Association Between Governance and Returns." Journal of Financial Economics 108, no. 2 (2013): 323–348.

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• Teaching Note | HBS Case Collection | 2013

  Schön Klinik: Eating Disorder Care (TN)

  Michael E. Porter, Emma Stanton, Jessica Hohman and Caleb Stowell

  Citation:

  Porter, Michael E., Emma Stanton, Jessica Hohman, and Caleb Stowell. "Schön Klinik: Eating Disorder Care (TN)." Harvard Business School Teaching Note 713-527, April 2013.

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• Case | HBS Case Collection | 2013 (Revised from original 2012 version)

  Schön Klinik: Eating Disorder Care

  Michael E. Porter, Emma Stanton, Jessica A. Hohman and Caleb Stowell

  The Schön Klinik is a private, for-profit German hospital group trying to establish itself as a premium health care provider in a competitive German market. The case details Schön Klinik's founding, its early focus on measurement and improvement, and the design and implementation of a system-wide structure for measuring and reporting actual health outcomes. The case details the care cycle for eating disorder patients and highlights the role outcomes measurement has played in improving eating disorder care over time. It ends with a discussion of Schön's innovative bundled reimbursement models and challenges the reader to explore how to develop new pricing and care delivery models that encourage integration of care around patient medical conditions. The case also discusses the German health care system, its regulatory constraints, and Schön's attempts to change the paradigm of competition in the sector.

  Keywords: health care quality; outcomes; quality improvement; strategy and performance measurement; Integration; Measurement and Metrics; Competition; Health Disorders; Health Care and Treatment; Outcome or Result; Business Processes; Health Industry; Germany;

  Citation:

  Porter, Michael E., Emma Stanton, Jessica A. Hohman, and Caleb Stowell. "Schön Klinik: Eating Disorder Care." Harvard Business School Case 712-475, April 2013. (Revised from original March 2012 version.)

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