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Summary
Paul Healy joined Harvard Business School as a Professor of Business Administration in 1997. His primary teaching interests include corporate governance and accountability, equity research at financial services firms, strategic financial analysis and financial reporting. Professor Healy teaches in several executive education programs, and is faculty cochair of Strategic Financial Analysis for Business Evaluation. Professor Healy received his B.C.A. Honors (1st Class) in Accounting and Finance from Victoria University, New Zealand in 1977, his M.S. in Economics from the University of Rochester in 1981, his Ph.D. in Business from the University of Rochester in 1983, and is a New Zealand CPA. In New Zealand, Professor Healy worked for Arthur Young and ICI. Prior to joining Harvard, Professor Healy spent fourteen years on the faculty at the M.I.T. Sloan School of Management, where he received awards for teaching excellence in 1991, 1992, and 1997. He is the coauthor (with Professors Krishna G. Palepu) of one of the leading financial analysis textbooks, Business Analysis and Valuation. In 1993-94 he served as Deputy Dean at the Sloan School, and in 1994-95 he visited London Business School and Harvard Business School.
Professor Healy's research includes studies of the performance of financial analysts, corporate governance, the performance of mergers, corporate disclosure, and managers' financial reporting decisions. His work has been published in The Accounting Review, Journal of Accounting and Economics, Journal of Accounting Research, Financial Analysts Journal, Harvard Business Review, and Journal of Financial Economics. In 1990, his article 'The Effect of Bonus Schemes on Accounting Decisions,' published in Journal of Accounting and Economics, was awarded the AICPA/AAA Notable Contribution Award. His text Business Analysis and Valuation was awarded the AICPA/AAA's Wildman Medal for contributions to the practice in 1997, and the AICPA/AAA Notable Contribution Award in 1998.
| Current Institution | Harvard Business School |
| Department | Business Administration |
| Disciplines | |
| Geographical Focus | |
| Address | Harvard Business School Boston Massachusetts United States Phone: 617-495-1283 |
Profile viewed 618 times
Education
University of Rochester
Ph.D.,
Business
(1983)
University of Rochester
M.S.,
Economics
(1981)
Work Experience
Professor
Harvard Business School
(1997 - Present)
Professor
M.I.T. Sloan School of Management
(1983 - 1997)
Achievements
General
Publication Summary
Books
- Palepu, Krishna, and Paul M. Healy. Business Analysis and Valuation: Using Financial Statements. 5th ed. Cengage Learning, forthcoming.
- Healy, Paul M., and Krishna G. Palepu. Business Analysis and Valuation: Using Financial Statements. 4th ed. Mason, Ohio: Thomson Southwestern, 2007.
- Palepu, Krishna G., Paul M. Healy, and Victor L. Bernard. Business Analysis and Valuation Using Financial Statements: Text and Cases. 3rd ed. Mason, Ohio: Thomson Southwestern, 2003.
- Bruns, William J., Paul M. Healy, J. H. Hertenstein, Robert S. Kaplan, and Sharon M. McKinnon. Reading Financial Reports. 2nd ed. Business Fundamentals. Boston: Harvard Business School Press, 2002.
- Healy, Paul M., Krishna G. Palepu, and Victor L. Bernard. Business Analysis and Valuation. 2nd ed. Southwestern Publishing Company, 2000.
- Bernard, Victor L., Paul M. Healy, and Krishna G. Palepu. Business Analysis and Valuation Using Financial Statements. Cincinnati, Ohio: Southwestern Publishing Company, 1996.
Published Papers
- Groysberg, Boris, Paul Healy, Nitin Nohria, and George Serafeim. "What Factors Drive Analyst Forecasts?" Financial Analysts Journal 67, no. 4 (July - August 2011).
- Groysberg, Boris, Paul M. Healy, and David A. Maber. "What Drives Sell-Side Analyst Compensation at High-Status Investment Banks?" Journal of Accounting Research 49, no. 4 (2011): 969-1000.
- Groysberg, Boris, Paul M. Healy, and Yang Gui. "Can Research Committees Add Value for Investors? An Analysis of Lehman Brothers' Ten Uncommon Values® Recommendations." Investments Issue. Journal of Financial Transformation 24 (November 2008): 123-130.
- Groysberg, Boris, Paul M. Healy, and Craig James Chapman. "Buy-Side vs. Sell-Side Analysts' Earnings Forecasts." Financial Analysts Journal 64, no. 4 (July - August 2008): 25 - 39.
- Cowen, Amanda Paige, Boris Groysberg, and Paul Healy. "Which Types of Analyst Firms Are More Optimistic?" Journal of Accounting & Economics 41, nos. 1-2 (April 2006): 119-146. (Winner of the 2006 Emerald Management Reviews Citation of Excellence.)
- Healy, Paul M., and Krishna G. Palepu. "How the Quest for Efficiency Corroded the Market." Harvard Business Review 81, no. 7 (July 2003).
- Healy, Paul M., and Krishna G. Palepu. "The Fall of Enron." Journal of Economic Perspectives 17, no. 2 (spring 2003).
- Healy, P. M. "R&D Accounting and the Tradeoff between Relevance and Objectivity." Journal of Accounting Research 40, no. 3 (June 2002): 677, 34 pgs.
- Healy, P. M. "Audit the audit committees: VIEWPOINT PAUL HEALY AND KRISHNA PALEPU: After Enron, boards must change the focus and provide greater financial transparency." The Financial Times, June 10, 2002, 14.
- Gilson, Stuart C., Paul M. Healy, Christopher F. Noe, and Krishna G. Palepu. "Analyst Specialization and Conglomerate Stock Breakups." Journal of Accounting Research 39, no. 3 (December 2001).
- Healy, Paul M., and Krishna G. Palepu. "Information Asymmetry, Corporate Disclosure, and the Capital Markets: A Review of the Empirical Disclosure Literature." Journal of Accounting & Economics 31, nos. 1-3 (September 2001): 405-440.
- Healy, Paul M., and James Wahlen. "A Review of the Earnings Management Literature and its Implications for Standard Setting." Accounting Horizons (December 1999).
- Healy, Paul M., Amy P. Hutton, and Krishna G. Palepu. "Stock Performance and Intermediation Changes Surrounding Sustained Increases in Disclosure." Contemporary Accounting Research 16, no. 3 (fall 1999).
- Healy, Paul M. "Discussion of Earnings-based Bonus Plans and Earnings Management by Business Unit Managers." Journal of Accounting and Economics (January 1999).
- Healy, Paul M., Andrew Alford, and Ng Kah Hwa. "The Performance of International Joint Ventures: A Study of The Merchant Banking Industry In Singapore." Journal of Corporate Finance 4, no. 1 (March 1998).
- Healy, Paul M., Krishna G. Palepu, and Richard S. Ruback. "Which Takeovers are Profitable: Strategic or Financial?" MIT Sloan Management Review 38, no. 4 (summer 1997): 45-57.
- Healy, Paul M., and Krishna G. Palepu. "Using Capital Structure to Communicate with Investors: The Case of CUC International." Journal of Applied Corporate Finance 8, no. 4 (winter 1996).
- Healy, Paul M. "Discussion of a Market-Based Evaluation of Discretionary Accrual Models." Journal of Accounting Research 34 (1996).
- Healy, Paul M., and Krishna G. Palepu. "The Challenges of Investor Communication: The Case of CUC International, Inc." Journal of Financial Economics 38, no. 2 (June 1995): 111-140.
- Palepu, Krishna G., and Paul M. Healy. "The Effect of Firms' Financial Disclosure Strategies on Stock Prices." Accounting Horizons 7 (March 1993): 1-11.
- Healy, Paul M., Krishna G. Palepu, and Richard S. Ruback. "Does Corporate Performance Improve after Mergers?" Journal of Financial Economics 31, no. 2 (April 1992): 135-175.
- Healy, Paul M. "How Management Bonus Plans Affect Reported Earnings." CPE Program Lesson 90-11. Accounting Today (1991).
- Healy, Paul M., and Krishna G. Palepu. "Earnings and Risk Changes Surrounding Primary Stock Offers." Journal of Accounting Research 28, no. 1 (spring 1990): 25-48.
- Healy, Paul M., and Krishna G. Palepu. "Effectiveness of Accounting-Based Dividend Covenants." Journal of Accounting & Economics 12, nos. 1-3 (January 1990): 97-124.
- Healy, Paul M., and Krishna G. Palepu. "How Do Investors Interpret Firms' Financial Decisions." Journal of Applied Corporate Finance 2, no. 3 (fall 1989).
- Asquith, Paul, Paul M. Healy, and Krishna G. Palepu. "Earnings and Stock Splits." The Accounting Review 64, no. 3 (July 1989): 387-403.
- Healy, Paul M., and Franco Modigliani. "Dividend Decisions and Earnings." Journal of Accounting, Auditing and Finance 5, nos. 1--2 (1989): 3-26.
- Healy, Paul M., and Krishna G. Palepu. "Earnings Information Conveyed by Dividend Initiations and Omissions." Journal of Financial Economics 21, no. 2 (September 1988): 149-175.
- Healy, Paul M., Sok-Hyon Kang, and Krishna G. Palepu. "The Effect of Accounting Procedure Changes on CEO's Cash Salary and Bonus Compensation." Journal of Accounting & Economics 9, no. 1 (April 1987): 7-34.
- Healy, Paul M., and Tom Lys. "Auditor Changes Following Big Eight Mergers with Non-Big Eight Audit Firms." Journal of Accounting and Public Policy 5, no. 4 (winter 1986): 251-265.
- Healy, Paul M. "The Effect of Bonus Schemes on Accounting Decisions." Journal of Accounting & Economics 7, nos. 1-3 (April 1985): 85-107.
Book Chapters
- Healy, Paul M. and Krishna G. Palepu. "International Equity Acquisitions: Who, Where, and Why?" In Foreign Direct Investment, edited by K. Froot. Chicago: University of Chicago Press, 1993.
- Healy, Paul M. "The Effects of Changes in Corporate Control on Firm Performance." In Transforming Organizations, edited by Thomas Kochan and Michael Useem. New York: Oxford University Press, 1992.
Other Papers
- Healy, Paul, and George Serafeim. "Causes and Consequences of Firm Disclosures of Anticorruption Efforts." Harvard Business School Working Paper, No. 12-077, February 2012.
- Groysberg, Boris, Paul Healy, George Serafeim, Devin Shanthikumar, and Gui Yang. "The Stock Selection and Performance of Buy-Side Analysts." Harvard Business School Working Paper, No. 12-076, February 2012.
- Healy, Paul, Venkat Kuppuswamy, and George Serafeim. "What Impedes Oil and Gas Companies' Transparency?" Harvard Business School Working Paper, No. 12-038, November 2011.
- Healy, Paul M., George Serafeim, Suraj Srinivasan, and Gwen Yu. "Market Competition, Government Efficiency, and Profitability Around the World." Harvard Business School Working Paper, No. 12-010, May 2011.
- Groysberg, Boris, Paul M. Healy, George Serafeim, Devin M. Shanthikumar, and Yang Gui. "Who Makes Better Stock Picks: The Sell-side or The Buy-side?" Working Paper. (2010.)
HBS Course Materials
- Healy, Paul M., and Boris Groysberg. "10 Uncommon Values®: Optimizing the Stock-Selection Process." Harvard Business School Case 405-022.
- Groysberg, Boris, and Paul M. Healy. "10 Uncommon Values®: Optimizing the Stock-Selection Process (TN)." Harvard Business School Teaching Note 407-073.
- Healy, Paul M., and Jacob Cohen. "Accounting for Mergers & Acquisitions." Harvard Business School Note 101-021.
- Healy, Paul M. "Adelphia Communications Corporation." Harvard Business School Case 198-031.
- Healy, Paul M. "Adelphia Communications Corporation TN." Harvard Business School Teaching Note 100-086.
- Healy, Paul M., and Jacob Cohen. "Aerospace Technologies, Inc." Harvard Business School Case 101-003.
- Healy, Paul M., and Preeti Choudhary. "Asset Reporting." Harvard Business School Note 101-014.
- Healy, Paul M., Clayton S. Rose, and Aldo Sesia. "Aubrey McClendon's Special Incentive Compensation at Chesapeake Energy (A)." Harvard Business School Case 110-047.
- Healy, Paul M., Clayton S. Rose, and Aldo Sesia. "Aubrey McClendon's Special Incentive Compensation at Chesapeake Energy (B)." Harvard Business School Supplement 110-050.
- Healy, Paul M. "Boeing Company's Accounting for Executive Stock Compensation, The." Harvard Business School Teaching Note 101-088.
- Healy, Paul M., and Jacob Cohen. "Boeing Company's Accounting for Executive Stock Compensation, The." Harvard Business School Case 100-031.
- Healy, Paul M. "Boston Chicken, Inc." Harvard Business School Case 198-032.
- Healy, Paul M. "Boston Chicken, Inc. TN." Harvard Business School Teaching Note 100-084.
- Healy, Paul M. "Brierley Investments Limited." Harvard Business School Case 100-014.
- Healy, Paul M. "Brierley Investments Limited TN." Harvard Business School Teaching Note 100-085.
- Healy, Paul M., Krishna G. Palepu, and Jonathan Barnett. "Business Analysis and Valuation Model (Version 5)." Harvard Business School HBSP Online Case Product 103-701.
- Healy, Paul M., and James Quinn. "CIBA Vision: The Wesley Jessen Acquisition (A)." Harvard Business School Case 105-063.
- Healy, Paul M., and James Quinn. "CIBA Vision: The Wesley Jessen Acquisition (B)." Harvard Business School Case 105-064.
- Healy, Paul M., and James Quinn. "CIBA Vision: The Wesley Jessen Acquisition (C)." Harvard Business School Case 105-065.
- Healy, Paul M. "City of New York, The." Harvard Business School Case 198-030.
- Healy, Paul M. "City of New York, The (TN)." Harvard Business School Teaching Note 104-033.
- Healy, Paul M. "Computer Associates International Inc.: Governance and Investor Communication Challenge (TN)." Harvard Business School Teaching Note 104-026.
- Healy, Paul M., and Krishna G. Palepu. "Computer Associates International, Inc.: Governance and Investor Communication Challenge." Harvard Business School Case 103-007.
- Healy, Paul M., and Maria Loumioti. "Corruption at Siemens (A)." Harvard Business School Case 108-033.
- Healy, Paul M., and Maria Loumioti. "Corruption at Siemens (B)." Harvard Business School Supplement 108-034.
- Healy, Paul M., and Maria Loumioti. "Corruption at Siemens (C)." Harvard Business School Supplement 108-035.
- Healy, Paul M., and Maria Loumioti. "Corruption at Siemens (D)." Harvard Business School Supplement 108-036.
- Groysberg, Boris, Paul M. Healy, and Sarah Abbott. "Credit Suisse Group: Managing Equity Research as a Business." Harvard Business School Case 410-073.
- Palepu, Krishna G., and Paul M. Healy. "CUC International, Inc. (A)." Harvard Business School Case 192-099.
- Healy, Paul M. "CUC International, Inc. (A) (TN)." Harvard Business School Teaching Note 104-028.
- Palepu, Krishna G., and Paul M. Healy. "CUC International, Inc. (B)." Harvard Business School Supplement 192-100.
- Palepu, Krishna G., and Paul M. Healy. "CUC International, Inc. (C)." Harvard Business School Supplement 192-101.
- Gilson, Stuart C., Paul M. Healy, and Natalie Kindred. "Customer Planning at Novartis Pharmaceuticals Corporation 2008." Harvard Business School Case 209-087.
- Healy, Paul M. "DICOM Group plc and Captiva Software Corp." Harvard Business School Case 106-015.
- Healy, Paul M. "DICOM Group plc and Captiva Software Corp. (TN)." Harvard Business School Teaching Note 108-026.
- Healy, Paul M., Bjorn N. Jorgensen, and Penny Joseph. "Echlin vs. SPX." Harvard Business School Case 199-010.
- Healy, Paul M., Sharon P. Katz, and Aldo Sesia. "Eddie Bauer (A)." Harvard Business School Case 110-008.
- Healy, Paul M., Sharon P. Katz, and Aldo Sesia. "Eddie Bauer (B)." Harvard Business School Supplement 110-009.
- Healy, Paul M., Sharon P. Katz, and Aldo Sesia. "Eddie Bauer (C)." Harvard Business School Supplement 110-010.
- Healy, Paul M., and Sharon P. Katz. "Eddie Bauer (TN) (A), (B) and (C)." Harvard Business School Teaching Note 110-041.
- Healy, Paul M., and Jacob Cohen. "Emergence of an International Accounting Standards Setter, The." Harvard Business School Note 100-046.
- Healy, Paul M., and Preeti Choudhary. "Expense Recognition." Harvard Business School Note 101-015.
- Healy, Paul M., and Krishna G. Palepu. "The Fall of Enron." Harvard Business School Case 109-039.
- Healy, Paul M., and Djordjija Petkoski. "Fighting Corruption at Siemens." Harvard Business School Multimedia/Video Case 112-702.
- Healy, Paul M. "Fighting Corruption at Siemens." Harvard Business School Teaching Note 112-089.
- Hawkins, David F., and Paul M. Healy. "Financial Accounting: An Online Introductory Course (TN)." Harvard Business School Teaching Note 106-041.
- Healy, Paul M., Amy P. Hutton, Robert S. Kaplan, and Krishna G. Palepu. "Financial Reporting Environment, The." Harvard Business School Note 102-029.
- Healy, Paul M. "Financial Reporting Problems at Molex, Inc. (A)." Harvard Business School Case 105-082.
- Healy, Paul M. "Financial Reporting Problems at Molex, Inc. (B)." Harvard Business School Supplement 107-048.
- Healy, Paul M. "Financial Reporting Problems at Molex, Inc. (C)." Harvard Business School Supplement 107-049.
- Healy, Paul M. "Financial Reporting Problems at Molex, Inc. (TN) (A), (B) & (C)." Harvard Business School Teaching Note 106-018.
- Healy, Paul M., and Jacob Cohen. "Financial Statement and Ratio Analysis." Harvard Business School Note 101-029.
- Groysberg, Boris, Paul M. Healy, and Sarah Abbott. "Gerson Lehrman Group: Managing Risks." Harvard Business School Case 412-004.
- Hawkins, David F., and Paul M. Healy. "HBS Financial Accounting Tutorial." Harvard Business School HBSP Online Case Product 107-707.
- Hawkins, David F., and Paul M. Healy. "HBS Financial Accounting Tutorial (TN)." Harvard Business School Teaching Note 107-063.
- Healy, Paul M. "Inventory Exercises." Harvard Business School Exercise 101-012.
- Healy, Paul M. "Krispy Kreme Doughnuts." Harvard Business School Case 103-018.
- Healy, Paul M. "Krispy Kreme Doughnuts (TN)." Harvard Business School Teaching Note 104-024.
- Healy, Paul M., and Preeti Choudhary. "Liability Reporting." Harvard Business School Note 101-016.
- Healy, Paul M., and Jacob Cohen. "MCI-WorldCom Combination, The (A)." Harvard Business School Case 101-027.
- Healy, Paul M., and Jacob Cohen. "MCI-WorldCom Combination, The (B)." Harvard Business School Case 101-028.
- Groysberg, Boris, Paul M. Healy, and David Kiron. "Merrill Lynch in 2003: Sunny Skies Ahead?" Harvard Business School Case 105-067.
- Healy, Paul M. "Merrill Lynch in 2003: Sunny Skies Ahead? (TN)." Harvard Business School Teaching Note 108-025.
- Groysberg, Boris, Paul M. Healy, and Sarah Abbott. "Morgan Asset Management." Harvard Business School Case 411-058.
- Healy, Paul M. "Nokia in 2003." Harvard Business School Case 106-067.
- Serafeim, George, Paul M. Healy, and Aldo Sesia. "Oddo Securities - ESG Integration." Harvard Business School Case 111-085.
- Hutton, Amy P., Paul M. Healy, and Jacob Cohen. "Off-Balance Sheet Leases in the Restaurant Industry." Harvard Business School Case 101-033.
- Hawkins, David F., and Paul M. Healy. "Pre-matriculation Accounting Tutorial (TN)." Harvard Business School Teaching Note 105-074.
- Healy, Paul M., and Jacob Cohen. "Pre-Paid Legal Services, Inc." Harvard Business School Case 100-037.
- Healy, Paul M. "Pre-Paid Legal Services, Inc. TN." Harvard Business School Teaching Note 100-082.
- Hawkins, David F., Paul M. Healy, and Ratna G. Sarkar. "Prematriculation Financial Accounting Tutorial/Module." Harvard Business School HBSP Online Case Product 105-708.
- Healy, Paul M. "Primary Care at Pharma Austria." Harvard Business School Case 105-058.
- Groysberg, Boris, Paul M. Healy, and Amanda Cowen. "Prudential Securities." Harvard Business School Case 104-008.
- Healy, Paul M., Boris Groysberg, and Geoff Marietta. "Prudential Securities (TN)." Harvard Business School Teaching Note 108-027.
- Healy, Paul M. "Reporting Income for Dot-Coms." Harvard Business School Note 101-013.
- Healy, Paul M. "Reporting Income for Dot-coms TN." Harvard Business School Teaching Note 101-086.
- Healy, Paul M. "Revenue Recognition." Harvard Business School Note 101-017.
- Healy, Paul M., and Arjuna J Costa. "Revenue Recognition Problems in the Communications Equipment Industry." Harvard Business School Case 107-025.
- Healy, Paul M. "Revenue Recognition Problems in the Communications Equipment Industry (TN)." Harvard Business School Teaching Note 108-028.
- Healy, Paul, Karthik Ramanna, and Matthew Shaffer. "Rospil.info." Harvard Business School Case 112-033.
- Healy, Paul M., Mark T. Bradshaw, and James Quinn. "Sandoz Germany: Reviewing Goodwill Impairment." Harvard Business School Case 105-066.
- Groysberg, Boris, Paul M. Healy, and Sarah Abbott. "Sidoti & Company: Launching a Micro-Cap Product." Harvard Business School Case 411-072.
- Healy, Paul M., Krishna G. Palepu, and Georgios Serafeim. "Subprime Crisis and Fair-Value Accounting." Harvard Business School Case 109-031.
- Healy, Paul, Krishna Palepu, and George Serafeim. "Subprime Crisis and Fair-Value Accounting (TN)." Harvard Business School Teaching Note 112-027.
- Healy, Paul M., and Souren G. Ouzounian. "Thermo Electron Corporation: Financial Analysis." Harvard Business School Case 100-057.
- Healy, Paul M. "Thermo Electron Corporation: Financial Analysis TN." Harvard Business School Teaching Note 100-083.
- Healy, Paul M., Brett Laschinger, and Ajay Shroff. "United Parcel Service's IPO." Harvard Business School Case 103-015.
- Healy, Paul M. "United Parcel Service's IPO (TN)." Harvard Business School Teaching Note 104-029.
- Healy, Paul M. "Valuation at Novartis." Harvard Business School Case 108-041.
- Healy, Paul M., Krishna G. Palepu, and Jonathan Barnett. "Valuation Ratios in the Airline Industry." Harvard Business School Case 103-002.
- Healy, Paul M. "Valuation Ratios in the Airline Industry (TN)." Harvard Business School Teaching Note 104-025.
- Healy, Paul M., and Krishna G. Palepu. "Valuation Ratios in the Restaurant Industry." Harvard Business School Case 104-066.
- Healy, Paul M. "Valuation Ratios in the Restaurant Industry (TN)." Harvard Business School Teaching Note 105-056.
- Healy, Paul M., George Serafeim, and David Lane. "Wealth Management Crisis at UBS (A)." Harvard Business School Case 111-082.
- Healy, Paul M., Georgios Serafeim, and David Lane. "Wealth Management Crisis at UBS (B)." Harvard Business School Supplement 111-090.
- Healy, Paul M., and Jacob Cohen. "Yahoo!'s Stock-Based Compensation." Harvard Business School Case 101-059.
- Healy, Paul M., and Jacob Cohen. "Yahoo!'s Stock-Based Compensation (B)." Harvard Business School Case 103-043.
- Healy, Paul M., and Jacob Cohen. "Yahoo!'s Stock-Based Compensation (C)." Harvard Business School Case 103-044.
- Healy, Paul M., and Jacob Cohen. "Yahoo!'s Stock-Based Compensation (D)." Harvard Business School Case 103-045.
Books
Business Analysis and ValuationFinancial statements are the basis for a wide range of business analysis. Managers, securities analysts, bankers, and consultants all use them to make business decisions. There is strong demand...
Business Analysis and Valuation: Using Financial StatementsBusiness Analysis and Valuation teaches students how to use financial statement information to assess a firm's financial performance, value, and creditworthiness. This new IFRS edition has... |
Other Publications
