哈佛商学院

Harvard Business School panelists argue that net-zero arenas and smarter merch can turn fandom into real climate action—and a blueprint beyond sports.“The word ‘joy’ was used more in this session than I generally hear around” Harvard Business School, Rosabeth Moss Kanter said at the conclusion of a Harvard Climate Action Week discussion on innovating sustainability in sports. The panel, organized by the Business and Environment Ini

AbstractWe investigate the impact of observing peers’ information acquisition on financial analysts’ allocation of attention. Using the timely disclosure mandate by the Shenzhen Stock Exchange as a setting, we find that, shortly after analysts observe that a firm has been visited by peer analysts, they reduce short-term attention to that firm, as indicated by a reduced tendency to conduct follow-up visits. Nonvisiting analysts who do not conduct

Abstract  Retail investors trade hard-to-value stocks. Controlling for size, stocks with a high share of retail-initiated trades are composed of more intangible capital, have longer duration cash-flows and a higher likelihood of being mispriced. Consistent with retail-heavy stocks being harder to value, we document that such stocks are less sensitive to earnings news. As an additional consequence, the well-known earnings announcer risk premi

AbstractPlatforms, retailers, and other firms often offer their own products alongside products sold by competitors. We study the effects of this practice by combining a field experiment that hides brands owned by Amazon (i.e., private labels) from shoppers on Amazon.com with model-based counterfactuals and welfare analysis. In the absence of private labels, consumers substitute toward products that are similar along most observable dimen