Gwen Yu
There are 3 articles for this faculty member.
About Faculty in this Article:
Gwen Yu is an assistant professor of business administration in the Accounting and Management Unit at Harvard Business School.
Market Competition, Government Efficiency, and Profitability Around the World
| Authors: | Paul M. Healy, George Serafeim, Suraj Srinivasan, and Gwen Yu |
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| Published: | October 13, 2011 |
| Paper Release Date: | May 2011 |
| Feature: | Working Papers |
Understanding whether and how corporate profitability mean reverts across countries is important for valuation purposes. This research by Paul M. Healy, George Serafeim, Suraj Srinivasan, and Gwen Yu suggests that firm performance persistence varies systematically. Country product, capital, and to a lesser extent labor market competition all affect the rate of mean reversion of corporate profits. Corporate profitability exhibits faster mean reversion in countries with more competitive factor markets. In contrast, government efficiency decreases the speed of mean reversion, but only when the level of market competition is held constant. The findings are useful to practitioners and scholars interested in understanding how country factors affect corporate profitability.
Doing What the Parents Want? The Effect of the Local Information Environment on the Investment Decisions of Multinational Corporations
| Authors: | Nemit O. Shroff, Rodrigo S. Verdi, and and Gwen Yu |
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| Published: | October 5, 2011 |
| Paper Release Date: | September 2011 |
| Feature: | Working Papers |
As firms increase the scale of their global operations, monitoring operations across borders becomes increasingly challenging. Transparency in the external information environment can help multinational corporations monitor foreign subsidiaries and resolve internal agency problems. In this paper, researchers Nemit O. Shroff, Rodrigo S. Verdi, and Gwen Yu find that foreign subsidiaries located in country-industries with more transparent information environments are better able to translate local growth opportunities into investments.
Accounting for Crises
| Authors: | Venky Nagar and Gwen Yu |
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| Published: | May 25, 2011 |
| Paper Release Date: | April 2011 |
| Feature: | Working Papers |
A key endeavor of modern economic theory is to understand the causes of panics. This paper shows empirically that currency investors are more likely to get spooked unnecessarily when they have too much information. This finding accords well with global games models, which argue that self-fulfilling panics—i.e., panics unrelated to fundamentals—are more likely to occur when the quality of public information available to investors is very high. Research was conducted by Venky Nagar (University of Michigan) and Gwen Yu (Harvard).
