Faculty & Research
Faculty & Research
117
Results
- January 2022
- Accounting Review
Why is Corporate Virtue in the Eye of The Beholder? The Case of ESG Ratings
By: Dane Christensen, George Serafeim and Anywhere Sikochi
| Despite the rising use of environmental, social, and governance (ESG) ratings, there is substantial disagreement across rating agencies regarding what rating to give to individual firms. As what drives this disagreement is unclear, we examine whether a firm’s ESG...
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- Working Paper
ESG: Hyperboles and Reality
By: George Serafeim
| ESG has rapidly become a household name leading to both confusion about what it means and creating unrealistic expectations about its effects. In this paper, I draw on more than a decade of research to dispel several myths about ESG and provide answers to important...
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- 2021
- Working Paper
Accounting for Workforce Impact at Scale
By: Adel Fadhel, Katie Panella, Ethan Rouen and George Serafeim
| Using new data on workforce composition and wages, we systematically measure the employment impact at U.S. firms from 2008 to 2020, including 2,682 unique firms and 22,322 firm-year observations. We document significant variation across industries and firms within each...
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- 21 Jul 2021
- Research & Ideas
What Does an ESG Score Really Say About a Company?
by Kristen Senz
| A key gauge in the $30 trillion sustainable investment market provides a murky picture of corporate social responsibility. Research by Anywhere Sikochi and George Serafeim probes the underlying factors.
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- July 2021
- Journal of Business Ethics
Material Sustainability Information and Stock Price Informativeness
By: Jody Grewal, Clarissa Hauptmann and George Serafeim
| As part of the SEC’s revision of Regulation S-K, many investors proposed the mandatory disclosure of sustainability information in the form of environmental, social, and governance (ESG) data. However, progress is contingent on collecting evidence regarding which...
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- 2021
- Working Paper
Accounting for Product Impact in the Pharmaceuticals 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 pharmaceuticals industry. We design a monetization methodology that allows us to calculate monetary impact estimates of accessible...
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- 2021
- Working Paper
Accounting for Product Impact in the Oil and Gas Industry
By: Katie Panella, 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 oil and gas industry. We design a monetization methodology that allows us to calculate monetary product impact estimates of...
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- 2021
- Working Paper
Impact Accounting for Product Use: A Framework and Industry-specific Models
By: George Serafeim and Katie Trinh
| This handbook provides the first systematic attempt to generate a framework and industry-specific models for the measurement of impacts on customers and the environment from use of products and services, in monetary terms, that can then be reflected in financial...
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- 2021
- Working Paper
Accounting for Product Impact in the Interactive Media and Services Industry
By: DG Park, 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 interactive media and services industry. We design a monetization methodology that allows us to calculate monetary impact...
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- 12 May 2021
- Working Paper Summaries
Accounting for Product Impact in the Water Utilities Industry
by George Serafeim and Katie Trinh
| Using a framework for measuring and monitoring product impact in a systematic way, this paper compares two competitor companies in the water utilities industry. Results demonstrate the potential for product impact measurement to inform strategic decision-making.
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- 04 May 2021
- Working Paper Summaries
Accounting for Product Impact in the Telecommunications Industry
by George Serafeim and Katie Trinh
| A product impact framework is a systematic methodology applicable to different companies across a wide range of industries. This study examines the telecommunications industry, estimating the value of a product’s reach, accessibility, quality, optionality,...
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- May 2021
- Teaching Material
BlackRock: Linking Purpose to Profit
| Teaching Note for HBS Case No. 120-042
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