harvard research.docx

7/24/2019 harvard research.docx

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The Harvard business school is renowned around the world for its excellence in and

dedication to the goal of creating business and world leaders.

Harvard Business School is not only a place to teach, but also a place that teaches. With

thirty-three buildings on forty acres nestled in a bend of the Charles iver, this vibrant

co!!unity"s every aspect has been designed to help students develop s#ills and build

relationships that will last a lifeti!e. $ts spacious facilities, re!ar#able resources, inti!ate

courtyards, open lawns, and tree-lined wal#ways reinforce both the individual concentration

and the group interaction that are critical to the transfor!ational learning experience that the

School provides.

%ounded in &'(), HBS was originally located in Harvard *ard. The present ca!pus, with its

stately +eorgian buildings following the gentle curve on the Boston side of the Charles

iver, was dedicated in une of &'. The fir! of %rederic# /aw 0l!sted, designers of 1ew

*or#"s Central 2ar# and Boston"s 34!erald 1ec#lace3 syste! of par#s, designed the

landscaping.


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Integrated Reporting and Investor Clientele

Author: George Serafeim

Published: 01 Jun 201

$n this paper, 5uthor exa!ines the relation between $ntegrated eporting 6$7 and the

co!position of a fir!"s investor base. He hypothesi8es and fined those fir!s that practice $

have a !ore long-ter! oriented investor base with !ore dedicated and fewer transient

investors. This result is !ore pronounced for fir!s with high growth opportunities, not

controlled by a fa!ily, operating in "sin" industries, and exhibiting co!!it!ent to $. He

fined that the results are robust to the inclusion of fir! fixed effects, controls for the 9uantity

of sustainability disclosure, and alternative ways of !easuring $. :oreover, He show that

investor activis! on environ!ental or social issues or a large nu!ber of concerns about a

fir!"s environ!ental or social i!pact leads a fir! to practice !ore $ and that this investor

or crisis-induced $ affects the co!position of a fir!"s investor base. %inally, fir!s that

report !ore infor!ation about the different for!s of capital or follow !ore closely the

guiding principles as described in the $ %ra!ewor# of the $$C exhibit a !ore long-ter!

oriented investor base.
http://www.hbs.edu/faculty/Pages/item.aspx?num=49250http://www.hbs.edu/faculty/Pages/item.aspx?num=49250


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Corporate Sustainabilit!: "irst #viden$e on %aterialit!

Author: %o&affar 'han( George Serafeim and Aaron )oon

Published: 0* %ar 201

5n increasing nu!ber of co!panies !a#e sustainability invest!ents, and an increasing

nu!ber of investors integrate sustainability perfor!ance data in their capital allocation

decisions. To 2ublished however, the prior acade!ic literature has not distinguished between

invest!ents in !aterial versus i!!aterial sustainability issues. They develop a novel dataset

by hand-!apping data on sustainability invest!ents classified as !aterial for each industry

into fir!-specific perfor!ance data on a variety of sustainability invest!ents. This allows us

to present new evidence on the value i!plications of sustainability invest!ents. ;sing

calendar-ti!e portfolio stoc# return regressions they find that fir!s with good perfor!ance

on !aterial sustainability issues significantly outperfor! fir!s with poor perfor!ance on

these issues, suggesting that invest!ents in sustainability issues are shareholder-value

enhancing. %urther, fir!s with good perfor!ance on sustainability issues not classified as

!aterial do not underperfor! fir!s with poor perfor!ance on these sa!e issues, suggesting

invest!ents in sustainability issues are at a !ini!u! not value-destroying. %inally, fir!s

with good perfor!ance on !aterial issues and concurrently poor perfor!ance on i!!aterial

issues perfor! the best. These results spea# to the efficiency of fir!s" sustainability

invest!ents, and also have i!plications for asset !anagers who have co!!itted to the

integration of sustainability factors in their capital allocation decisions.

%a+ing the ,usiness Case for #nvironmental Sustainabilit!
http://www.hbs.edu/faculty/Pages/item.aspx?num=48910http://www.hbs.edu/faculty/Pages/item.aspx?num=48745http://www.hbs.edu/faculty/Pages/item.aspx?num=48910http://www.hbs.edu/faculty/Pages/item.aspx?num=48745


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Author: Rebe$$a -enderson

Published: 1* "eb 201

Can a business case be !ade for acting sustainably< This is a difficult 9uestion to answer

precisely, largely because there is no generally accepted definition of the ter!

3sustainability3. $s it acting sustainably to protect the hu!an rights of the fir!"s wor#forceect of investigation since the ways in which we deal with it are nu!erous?

touch, vision, proprioception, !otor behavior, se!antic co!prehension, e!otions

and feelings. So, we receive !ore infor!ation on our body than on any other ob>ects,

and unli#e other physical ob>ects, the different experiences through that we deal with

our body explain the wide ranges of body representation alterations following brain

in>ury a!ong these disorders, clinical neuropsychology distinguishes between body

parts locali8ation and body awareness.

The case of %2 affected by personal and extrapersonal neglect and a body

representation deficit characteri8ed by delusional ideas. When %2 perfor!ed the

hu!an figure, he placed body parts to the left, despite his extrapersonal neglect.

@ifferently, when he perfor!ed the car figure he placed all parts to the right, in line

with his deficit. Co!paring %2 with a s!all patient group with the sa!e clinical

features without delusional ideas about body e!erged that he was the only one to

suffer fro! a specific body representation deficit characteri8ed by a lac# of body

ownership sense.

3he determinants of ta4 haven "I

Authors:Chris Jones( )ama 3emouri

Published: 10September201

This paper exa!ines the deter!inants of a !ultinational enterprise=s 6:14s7 decision to set

up tax haven subsidiaries. They adapt the fir!-specific advantageAcountry-specific

advantage 6%S5ACS57 fra!ewor# and construct a nu!ber of e!pirically testable


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hypotheses. The analysis is based on a database covering &,(' :14s in twelve 04C@

countries. They found that the variety of capitalis! of a :14s ho!e location and the level

of technological intensity has a strong i!pact on this decision. They also found that the ho!e

country corporate tax rate has a !ini!al i!pact. This study suggests that corporate tax

liberali8ation is unli#ely to deter :14s fro! underta#ing this activity.

There is no doubt that globali8ation has increased the spread and !obility of :14s. $t is

clear that govern!ents across the 04C@ fear the role that tax havens !ay play in eroding the

corporate tax base. Tax co!petition across countries and the lowering of do!estic tax rates

has certainly had a co!petitive effect in attracting foreign inward invest!ent. %urther!ore,

these results indicate that the utili8ation of tax haven subsidiaries is li#ely to beco!e even

!ore widespread in the future. They found that :14s fro! the high technology

!anufacturing and services sectors with high levels of intangible assets are !ore li#ely to

have tax haven presence.

3he Gro5ing Strategi$ Importan$e of #nd.of.ife Produ$t %anagement

Author: %i$hael 6/ 3offel

Published: 07 Jan 201

e9uiring !anufacturers to !anage the their products when they beco!e waste is an

innovative for! of regulation, one that has been adopted by countries in 5sia, 4urope, and

1orth 5!erica on a variety of products that range fro! vehicles to appliances to batteries.

However, even in !any unregulated industries, so!e !anufacturers are voluntarily assu!ing


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!ore responsibility for their end-of-life products, driven by custo!er de!and and cost

efficiencies. This article explores various for!s of ta#e-bac# regulation and highlights so!e

of the #ey features of the institutions that e!erge in response. $n addition, six strategic

product recovery alternatives are presented, followed by a discussion of so!e factors

!anagers should consider in developing a ta#e-bac# strategy.

#valuating Ris+! Individual ,ehavior during #pidemi$s 8sing %obile 9et5or+ ata

Authors:Antonio ima( el+oPeovi$( u$a Rossi( %ir$o%usolesi( %arta Gon&ale&

Published: 10;$tober201

$n this paper they have proposed 2rog!osis, an approach to disease prevention and

contain!ent that goes beyond traditional epide!ic !odeling and contact tracing, and

leverages behavioral data generated by !obile carrier networ#s to evaluate contagion ris# on

a per-user basis. The individual ris# represents the loss incurred by not isolating or treating a


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specific person, both in ter!s of how li#ely it is for this person to spread the disease as well

as how !any secondary infections it will cause. They have developed and released an open-

source tool that calculates this ris# based on cellular networ# events also they have

si!ulated a realistic epide!ic scenario, based on an 4bola virus outbrea#. They found that

gradually restricting the !obility of a subset of individuals, selected using 2rognosis greatly

reduces the nu!ber of infected people, co!pared to a rando! choice.

This study focuses on a theoretical !odel and not on its actual translation into a real-world

syste!. While co!puter-based si!ulations show pro!ising results, they are obtained under

specific assu!ptions real-world constraints and challenges !ight greatly affect the

effectiveness of that !odel. $t is worth re!ar#ing that si!ulations were perfor!ed using data

of a country that is currently 4bola-free according to WH0. %inally, they also stress the fact

that this wor# has been co!!issioned neither by 0range nor by any other organi8ation for

preparation to a real-world disease outbrea#.

Corporate So$ial Responsibilit! and A$$ess to "inan$e

Author: ,eiting Cheng( Ioannis Ioannou and George Serafeim

Published: 01 Apr 201

$n this paper, they investigate whether superior perfor!ance on corporate social responsibility

6CS7 strategies leads to better access to finance. They hypothesi8e that better access to finance

can be attributed to reduced agency costs due to enhanced sta#eholder engage!ent and reduced

infor!ational asy!!etry due to increased transparency. ;sing a large cross-section of fir!s,

they find that fir!s with better CS perfor!ance face significantly lower capital constraints.

:oreover, they provide evidence that both of the hypothesi8ed !echanis!s, better sta#eholder

engage!ent and transparency around CS perfor!ance, are i!portant in reducing capital


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constraints. The results are further confir!ed using an instru!ental variables and a si!ultaneous

e9uations approach. %inally, they are show that the relation is driven by both the social and the

environ!ental di!ension of CS.

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