Business Analysis and Valuation Model
This software enables users to download financial statements for a company, standardize them to a common format, make any needed adjustments to the company’s accounting, and make assumptions about the company’s future performance. The model then provides financial ratios for the company, with benchmarks for the U.S. economy, company pro forma financial statements, and a company valuation using several standard valuation techniques.
Editor’s Note: read … [ Read more ]
Content: Online Resource | Authors: Arleen Ahearn, Jonathan Barnett, Krishna Palepu, Paul Healy | Source: Harvard Business School (HBS) | Subject: Finance
The Fall of Enron
Abstract:
We will assess how governance and incentive problems contributed to Enron’s rise and fall. A well-functioning capital market creates appropriate linkages of information, incentives, and governance between managers and investors. This process is supposed to be carried out through a network of intermediaries.
We show that despite this elaborate corporate governance and intermediation network, Enron was able to attract large sums of capital to … [ Read more ]
Content: Article | Authors: Krishna Palepu, Paul Murray Healy | Source: Journal of Economic Perspectives | Subject: Corporate Governance
Disclosure Practices of Foreign Companies Interacting with U.S. Markets
Khanna, Palepu, and Srinivasan examine the relatively new S&P Transparency and Disclosure scores for 466 firms from Asian-Pacific countries. Consistent with theory, they find that the more the interaction with US firms, the more transparent the firm’s disclosure practices. Specifically they find “a positive association between these disclosure scores and the following types of market interactions: business operations in the US, US listing, … [ Read more ]
Content: Article | Authors: Krishna Palepu, Suraj Srinivasan, Tarun Khanna | Source: Social Science Research Network (SSRN) | Subjects: Finance, International
Governance in India and Around the Globe
India is not known for rigid corporate governance standards. Is software giant Infosys changing all that? A working paper by HBS professors Tarun Khanna and Krishna Palepu looks at how globalization may—or may not—foster convergence of corporate governance.
Content: Article | Authors: Krishna Palepu, Tarun Khanna | Source: Harvard Business School (HBS) Working Knowledge | Subjects: Corporate Governance, International – Asia