Accounting & Management
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- 2021
- Working Paper
Simplifying Business Group Structures: Value and Governance Implications for Korean Chaebols
By: Akash Chattopadhyay, Sa-Pyung Sean Shin and Charles C.Y. WangWe examine Korean business groups' transitions from circular-shareholding to (relatively simple) pyramidal-shareholding structures during 2011-2018. The transition did not impact chaebol families' degrees of control or incentive conflicts in firms belonging to circular-shareholdings (“loops”), yet these firms' values declined, particularly when they have higher incentive conflicts. Non-loop group firms experienced a value increase (decline) if they had little (significant) agency issues that were difficult to identify under opaque circular-shareholding structures. Firms in transitioning chaebols also experienced an increase in earnings informativeness. Our findings suggest ownership transparency enables investors to more clearly identify agency issues and managerial incentives across group firms.
- 2021
- Working Paper
Simplifying Business Group Structures: Value and Governance Implications for Korean Chaebols
By: Akash Chattopadhyay, Sa-Pyung Sean Shin and Charles C.Y. WangWe examine Korean business groups' transitions from circular-shareholding to (relatively simple) pyramidal-shareholding structures during 2011-2018. The transition did not impact chaebol families' degrees of control or incentive conflicts in firms belonging to circular-shareholdings (“loops”), yet these firms' values declined, particularly when...
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- Article
A Cost Comparison of Cataract Surgeries in Three Countries—United States, India, and Nepal
By: Jiayin Xue, John Hinkle, Mary-Grace Reeves, Luo Luo Zheng, Vengadesan Natarajan, Shyam Vyas, Radhika Upreti Oli, Matt Oliva, Robert S. Kaplan, Arnold Milstein, Geoff Tabin, Jeffrey L. Goldberg and Kevin SchulmanU.S.-based cataract surgeries are costly compared with those performed in high-quality Indian and Nepalese eye centers. The authors used time-driven activity-based costing to evaluate phacoemulsification surgery across four sites: a U.S.-based academic hospital outpatient department (HOPD) and an ambulatory surgery center (ASC), Aravind Eye Hospital in Pondicherry, India (AEH-P), and Tilganga Institute of Ophthalmology (TIO) in Kathmandu, Nepal. Indexing HOPD to $100 and correcting for purchasing power parity, the costs of cataract care were $42.00 at ASC, $21.50 at AEH-P, and $16.10 at TIO. Lower cost at the two South Asian sites can be attributed to faster patient throughput, avoidance of intravenous anesthesia, increased use of mid-level staff, and more frequent reuse of supplies. Adopting clinical processes from these high-quality, lower-cost providers, including a top-of-license approach that optimizes physician time; instituting detailed process flows, task-specific staffing models; and strengthening the focus on supply costs, could significantly reduce cataract surgery costs in the United States but may require new incentives within the nation’s health system.
- Article
A Cost Comparison of Cataract Surgeries in Three Countries—United States, India, and Nepal
By: Jiayin Xue, John Hinkle, Mary-Grace Reeves, Luo Luo Zheng, Vengadesan Natarajan, Shyam Vyas, Radhika Upreti Oli, Matt Oliva, Robert S. Kaplan, Arnold Milstein, Geoff Tabin, Jeffrey L. Goldberg and Kevin SchulmanU.S.-based cataract surgeries are costly compared with those performed in high-quality Indian and Nepalese eye centers. The authors used time-driven activity-based costing to evaluate phacoemulsification surgery across four sites: a U.S.-based academic hospital outpatient department (HOPD) and an ambulatory surgery center (ASC), Aravind Eye...
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- Fall 2021
- Article
Job-Hopping Toward Equity: Changing Employers Can Help Narrow the Gender Gap in Executive Compensation
By: Boris Groysberg, Paul M. Healy and Eric LinChanging employers has been linked to larger pay increases for executives and managers. Although survey-based studies suggest that men gain more than women, an analysis of more than 2,000 job moves found that executive women are commanding bigger increases than men when switching employers. In certain contexts, female executives can use these external moves to increase their own compensation and perhaps narrow the gender pay gap overall.
- Fall 2021
- Article
Job-Hopping Toward Equity: Changing Employers Can Help Narrow the Gender Gap in Executive Compensation
By: Boris Groysberg, Paul M. Healy and Eric LinChanging employers has been linked to larger pay increases for executives and managers. Although survey-based studies suggest that men gain more than women, an analysis of more than 2,000 job moves found that executive women are commanding bigger increases than men when switching employers. In certain contexts, female executives can use these...
About the Unit
The Accounting & Management unit at Harvard Business School strives to be the worldwide leader in research, course development, and teaching on top managements' use of performance measurement systems to:
- Communicate with external investors to ensure that their firms' securities are fairly priced and that they are able to access capital,
- Measure and evaluate their firms' economic performance,
- Improve resource allocation and strategy implementation within their firms, and
- Build accountability for performance through effective external and internal governance.
Unit research, course development, and teaching fall into two broad areas: Financial Reporting and Analysis and Management Accounting. Our research helps scholars and educators understand current best practices for the design and use of performance measurement systems that help managers to build more effective, value-creating organizations. Our teaching materials enable us to bring the results of this research into the classroom, and to practice.
Recent Publications
Simplifying Business Group Structures: Value and Governance Implications for Korean Chaebols
- 2021 |
- Working Paper |
- Faculty Research
A Cost Comparison of Cataract Surgeries in Three Countries—United States, India, and Nepal
- Article |
- NEJM Catalyst Innovations in Care Delivery
Job-Hopping Toward Equity: Changing Employers Can Help Narrow the Gender Gap in Executive Compensation
- Fall 2021 |
- Article |
- MIT Sloan Management Review
How Top Managers Use the Entrepreneurial Gap to Drive Strategic Change
- 2021 |
- Article |
- European Accounting Review
An Empirical Examination of Sell-Side Brokerage Analysts' Published Research, Concierge Services, and High-Touch Services
- 2021 |
- Article |
- European Accounting Review
Does Financial Misconduct Affect the Future Compensation of Alumni Managers?
- 2017 |
- Working Paper |
- Faculty Research
Airgas Valuation Instructor
- August 2021 |
- Supplement |
- Faculty Research