Faculty & Research
Faculty & Research
97
Results
- 2021
- Working Paper
Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement
By: George Serafeim and Aaron Yoon
| We investigate whether ESG ratings predict future ESG news and the associated market reactions. We find that the consensus rating predicts future news, but its predictive ability diminishes for firms with large disagreement between raters. Relation between news and...
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- January 11, 2021
- Institutional Investor
Why ESG Funds Fail to Scale
By: Gabriel Karageorgiou and George Serafeim
| You’ve seen the headlines about the growth in environmental, social, and governance funds. Many investment professionals might read these and believe that launching a new ESG investment firm or ESG offering will be an automatic success. Our analysis of the data shows...
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- 11 Jan 2021
- Working Paper Summaries
Accounting for Product Impact in the Airlines Industry
by George Serafeim and Katie Trinh
| A systematic methodology for measuring product impact can be applied across a range of industries. Examining two competitor companies in the airlines industry, this study finds that analyzing each dimension of product impact allows for deeper understanding of each...
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- 24 Nov 2020
- Working Paper Summaries
Accounting for Product Impact in the Consumer Finance Industry
by George Serafeim and Katie Trinh
| A framework and method for measuring and monetizing product impact across industries, applying it to two competitors in the consumer finance space.
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- 2020
- Working Paper
Accounting for Product Impact in the Airlines Industry
By: George Serafeim and Katie Trinh
| We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the airlines industry. We design a monetization methodology that allows us to calculate monetary impact estimates of fare...
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- 2020
- Working Paper
Accounting for Product Impact in the Consumer Finance Industry
By: George Serafeim and Katie Trinh
| We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor credit card providers within the consumer finance industry. We design a monetization methodology that allows us to calculate monetary impact estimates...
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- 02 Nov 2020
- Working Paper Summaries
Accounting for Organizational Employment Impact
by David Freiberg, Katie Panella, George Serafeim, and T. Robert Zochowski
| Impact-weighted accounting methodology standardizes previously disparate measures of impact, in this case the impact of employment. This paper’s methodology and analysis of Intel, Apple, Costco, and Merck shows the feasibility of measuring firm employment impact for...
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- 2020
- Working Paper
Accounting for Product Impact in the Consumer-Packaged Foods Industry
By: Amanda Rischbieth, George Serafeim and Katie Trinh
| We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the consumer-packaged goods industry. We design a methodology that allows us to calculate monetary impact estimates on customer...
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- 2020
- Working Paper
Measuring the Cost of Corporate Water Usage
By: DG Park, George Serafeim and T. Robert Zochowski
| We develop a methodology that calculates the impact that organizations have on the environment through their water consumption relating to water stress risk. Using the methodology, we derive estimates for four companies that show how assumptions on the geographic...
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- September 3, 2020
- Harvard Business Review (website)
How to Measure a Company’s Real Impact
By: Ronald Cohen and George Serafeim
| Impact transparency will reshape capitalism. By shifting the pursuit of profit away from negligently creating problems to purposefully creating valuable solutions for the world, it will redefine success, so that its measure is not just money, but the positive impact we...
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- 2020
- Foundations and Trends® in Accounting
Research on Corporate Sustainability: Review and Directions for Future Research
By: Jody Grewal and George Serafeim
| We review the literature on corporate sustainability and provide directions for future research. Our review focuses on three actions: measuring, managing and communicating corporate sustainability performance. Measurement is the least developed of the three and...
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