More from these Authors

• Working Paper | HBS Working Paper Series | 2020

  Accounting for Product Impact in the Airlines Industry

  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 affordability, timeliness and gate control, among other factors. Our results indicate substantial differences in the impact that competitors have through their products. These differences demonstrate how impact reflects corporate strategy and informs decision-making on industry-specific areas, including airline route structure choices.

  Keywords: Product Innovation; Product design; Impact; impact investing; impact measurement; ESG; ESG (environmental, social, governance) performance; ESG (environmental, social, governance) performance; ESG ratings; social corporate responsibility; corporate social responsibility; social impact; air transportation; aviation; Product; Product Design; Product Positioning; Society; Air Transportation Industry;

  Citation:

  Serafeim, George, and Katie Trinh. "Accounting for Product Impact in the Airlines Industry." Harvard Business School Working Paper, No. 21-066, November 2020.  View Details

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• Working Paper | HBS Working Paper Series | 2020

  Accounting for Product Impact in the Consumer Finance Industry

  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 on cardholder access to credit, affordability for merchants, financial health, and recyclability, among other factors. Our results indicate substantial differences in the impact that competitors have through their products. These differences demonstrate how impact reflects corporate strategy and informs decision-making on industry-specific areas.

  Keywords: Product Innovation; Product design; Impact; impact investing; impact measurement; ESG; ESG (environmental, social, governance) performance; ESG (environmental, social, governance) performance; ESG ratings; social corporate responsibility; corporate social responsibility; social impact; consumer finance; financial services; Credit Cards; Financial inclusion; Product; Product Design; Product Positioning; Society; Financial Services Industry;

  Citation:

  Serafeim, George, and Katie Trinh. "Accounting for Product Impact in the Consumer Finance Industry." Harvard Business School Working Paper, No. 21-061, November 2020.  View Details

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• Article | Management Science | November 2020

  The Role of Taxes in the Disconnect Between Corporate Performance and Economic Growth

  Urooj Khan, Suresh Nallareddy and Ethan Rouen

  We investigate the relation between the growth in corporate profits and the overall U.S. economy, focusing on the impact of the U.S. corporate tax regime on this relation. We document that the growth of corporate profits, on average, has outpaced the growth of the economy, and this disconnect increases as the difference between the corporate income tax rate of the U.S. and the other OECD countries increases. The underlying mechanism is fewer corporate profits being channeled into subsequent domestic investments when the U.S. tax rate is relatively higher, leading to lower economic growth. Our findings have implications for policy setters.

  Keywords: taxes; gdp; Corporate profits; American jobs creation Act of 2004; Taxation; Economic Growth; Profit; United States;

  Citation:

  Khan, Urooj, Suresh Nallareddy, and Ethan Rouen. "The Role of Taxes in the Disconnect Between Corporate Performance and Economic Growth." Management Science 66, no. 11 (November 2020): 5427–5447.  View Details

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