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This case considers Oakland Athletics General Manager Billy Beane’s data driven and, in baseball circles unconventional, approach to winning games...
Scott Wagner has recently joined GoDaddy, a leading provider of cloud-based software and services that helped individuals and small businesses...
- August 2021
- Article
Don't Take Their Word for It: The Misclassification of Bond Mutual Funds
By: Huaizhi Chen, Lauren Cohen and Umit Gurun
We provide evidence that bond fund managers misclassify their holdings, and that these misclassifications have a real and significant impact on investor capital flows. In particular, many funds report more investment grade assets than are actually held in their...
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- 2021
- Working Paper
The Changing Role of Business in Society
Business interaction with the U.S. government, historically based on securing industry or company special interests at the expense of the public god, has enabled and furthered government dysfunction. Gridlock within the American political system has precluded the...
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Keywords:
Politics;
Shared Value;
Social Progress Index;
Competitiveness;
United States;
Walmart;
BlackRock;
ESG (Environmental, Social, Governance) Performance;
ESG;
Transparency;
Campaign Contributions;
Campaign Finance;
Lobbying;
Revolving Door;
Political Ideology;
Political Parties;
Political Partisanship;
Government And Business;
Government Innovation;
Elections;
Democracy;
Capitalism;
Stakeholder Capitalism;
Shareholder Engagement;
Corporate Accountability;
Competition;
Strategy;
Government and Politics;
Society;
Social Issues;
Human Needs;
Wealth and Poverty;
Business and Community Relations;
Business and Government Relations;
Financial Services Industry;
Banking Industry;
United States
- July 9, 2021
- Article
Mobilizing the U.S. Military’s TRICARE Program for Value-Based Care: A Report From the Defense Health Board
By: Robert S. Kaplan, Paul R. Schaettle, Vivian S. Lee, Michael D. Parkinson, Gregory H. Gorman and Michael-Anne Browne
The U.S. Military Health System spends about $50 billion annually to provide care to 9.6 million active duty service members, retirees, and their families through its TRICARE health plans. TRICARE follows the predominant payment model in the...
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Keywords:
United States
- July 2021
- Article
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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Keywords:
Voluntary Disclosure;
Accounting Standards;
Sustainability;
Nonfinancial Information;
Corporate Social Responsibility;
Stock Price Informativeness;
Synchronicity;
Environmental Sustainability;
Corporate Disclosure;
Corporate Accountability;
Stocks;
Price;
Corporate Social Responsibility and Impact;
Accounting;
Standards
- July, 2021
- Article
Medical Debt in the U.S., 2009–2020
By: Ray Kluender, Neale Mahoney, Francis Wong and Wesley Yin
Importance: Medical debt is an increasing concern in the US, yet there is limited understanding of the amount and distribution of medical debt, and its association with health care policies.
Objective: To measure the amount of medical debt nationally and by... View Details
Objective: To measure the amount of medical debt nationally and by... View Details
- July 2021
- Article
Tabulated Nonsense? Testing the Validity of the Ethnographic Atlas
By: Duman Bahrami-Rad, Anke Becker and Joseph Henrich
The Ethnographic Atlas (Murdock, 1967), an anthropological database, is widely used across the social sciences. The Atlas is a quantified and discretely categorized collection of information gleaned from ethnographies covering more than 1200...
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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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Keywords:
Product Innovation;
Impact;
Impact Investing;
Impact Measurement;
ESG;
ESG (Environmental, Social, Governance) Performance;
ESG Ratings;
Social Corporate Responsibility;
Corporate Social Responsibility;
Social Impact;
Oil;
Oil ＆ Gas;
Oil And Gas;
IWAI;
Product Design;
Product Positioning;
Society;
Environmental Sustainability;
Corporate Social Responsibility and Impact;
Product
- 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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Keywords:
Product Innovation;
Impact;
Impact Investing;
Impact Measurement;
ESG;
ESG (Environmental, Social, Governance) Performance;
ESG Ratings;
Social Corporate Responsibility;
Corporate Social Responsibility;
Social Impact;
Pharmaceutical Companies;
Pharmaceuticals;
Product Design;
Product Positioning;
Society;
Environmental Sustainability;
Corporate Social Responsibility and Impact;
Product;
Safety;
Pharmaceutical Industry
- 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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- June 2021
- Teaching Note
Michael Phelps: 'It’s Okay to Not Be Okay'
By: Boris Groysberg, Carin-Isabel Knoop and Michael Norris
Teaching Note for HBS Case No. 421-044. In 2020, Michael Phelps, the most decorated Olympian of all time, with 28 medals in various swimming events, was now retired. As he looked back on his 20+ year athletic career, he considered what had gone into making him the...
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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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Keywords:
Product Innovation;
Impact;
Impact Investing;
Impact Measurement;
ESG;
ESG (Environmental, Social, Governance) Performance;
ESG Ratings;
Social Corporate Responsibility;
Corporate Social Responsibility;
Social Impact;
Social Media;
Product Design;
Product Positioning;
Society;
Product;
Environmental Sustainability;
Measurement and Metrics;
Framework;
Corporate Social Responsibility and Impact;
Technology Industry
- June 2021
- Technical Note
Introduction to Linear Regression
By: Michael Parzen and Paul J. Hamilton
This technical note introduces (from an applied point of view) the theory and application of simple and multiple linear regression. The motivation for the model is introduced, as well as how to interpret the summary output with regard to prediction and statistical...
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- 2021
- Working Paper
Who Closed the Schools?
By: Joshua D. Coval
This paper examines the differences in characteristics between U.S. public schools that opted for virtual instruction because of COVID-19, and schools that did not. Much of the variation can be explained by measures of the degree to which districts favored teachers...
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- June 2021
- Article
Developing a Value Framework: Utilizing Administrative Data to Assess an Enhanced Care Initiative
By: Casey J. Allen, Jarrod S. Eska, Nikhil G. Thaker, Thomas W. Feeley, Robert S. Kaplan, Ryan W. Huey, Ching-Wei D. Tzeng, Jeffrey E. Lee, Steven J. Frank, Thomas A. Aloia, Vijaya Gottumukkala and Matthew H.G. Katz
We used national administrative data to assess multiple domains of value associated with enhanced recovery pathways for patients undergoing pancreatic surgery. Value metrics included in-hospital mortality, complication rates, length of stay (LOS), 30-day readmission...
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- January 2021
- Article
Measuring Audit Quality
By: Shivaram Rajgopal, Suraj Srinivasan and Xin Zheng
In this paper, we document 45 specific allegations related to audit deficiencies based on GAAS, as detailed in 141 AAERs and 153 securities class action lawsuits over the violation years 1978–2016. Next, we use these allegations to validate existing popular proxies of...
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- 2021
- Article
Use of Connected Digital Products in Clinical Research Following the COVID-19 Pandemic: A Comprehensive Analysis of Clinical Trials
By: Caroline Marra, William J. Gordon and Ariel Dora Stern
Objectives: In an effort to mitigate COVID-19 related challenges for clinical research, the U.S. Food and Drug Administration (FDA) issued new guidance for the conduct of ‘virtual’ clinical trials in late March 2020. This study documents trends in the use of...
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- May 2021
- Case
Coats: Supply Chain Challenges
By: Willy C. Shih and Adina Wong
Coats, the largest thread maker in the world, transformed its business to digital colour measurement so that it could respond better to customer demand in the garment industry for rapid product cycles and more fragmented colour choices. Its embrace of digital colour...
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- 2021
- Working Paper
Growth, Transformation and Digital Capital: The Importance of Technological and Organizational Architecture
By: Ruiqing Cao and Marco Iansiti
The benefits to data analytics and machine learning have been distributed unevenly across firms around the world. Research on IT productivity points to intangible capital as a crucial driver of value creation from innovation in computing. We argue that an important...
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- May 2021
- Case
André Hoffmann: Beyond Philanthropy
By: Lauren Cohen, Hao Gao, Jiawei Ye and Spencer C.N. Hagist
André Hoffmann is a leader of one of the world's largest pharmaceutical companies. His exceptional tenure in philanthropy over the past several decades, including being president of the WWF and the vice-president of the MAVA Foundation, has allowed him access to a far...
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- April 2021
- Case
Accounting for Bitcoin at Tesla
By: Charles C.Y. Wang and Siyu Zhang
In February of 2021, Tesla revealed that it had purchased $1.5 billion of Bitcoin, totaling 7.5% of the company's cash. This announcement came after a series of cryptocurrency-related tweets from Elon Musk, the company's CEO, and a surge in cryptocurrency values. The...
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