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- News (135)
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Show Results For
- All HBS Web
(731)
- News (135)
- Research (543)
- Events (1)
- Multimedia (2)
- Faculty Publications (125)
- 01 Aug 2018
- What Do You Think?
Are Free Trade and Free Markets Quaint Ideas From the Past?
policies. At the risk of oversimplification, the argument is that globalization combined with free markets has created disruptions that have led to social costs. This has fostered populist governments who are promising to reverse the View Details
Keywords: by James Heskett
- Web
Manuscript Collections - A Chronicle of the China Trade
of the China Trade Introduction Doing Business with China Augustine Heard & Co. The Canton Trade Commodities & Currencies Treaty Ports & Compradors Clippers & Steamships Exploring View Details
- November 2008
- Case
The StarNight Hotel Construction Bid: Real Time Competition on Schedule, Scope, and Cost
By: John D. Macomber
The case is intended for use with the HBS Educational Technology Group "Construction Bidding Simulation." Material that can be taught includes quantity survey methodology (from the case); analyzing preliminary estimated costs per building trade (from the discussion... View Details
Keywords: Decision Choices and Conditions; Construction; Cost; Contracts; Bids and Bidding; Real Estate Industry
Macomber, John D. "The StarNight Hotel Construction Bid: Real Time Competition on Schedule, Scope, and Cost." Harvard Business School Case 209-067, November 2008.
- 01 Mar 2024
- News
Research Brief: The Real Cost of Countering China
Illustration by Patric Sandri Over the last five years, global supply chains have come under unprecedented stress from the pandemic, natural disasters, geopolitical events, and general anti-globalization sentiments. Nowhere is this more evident than in the View Details
- 06 Jul 2016
- What Do You Think?
How Do We Pay for the Costs of Globalization?
trade between nations, but the cost is horrendous I remember reading Thomas Friedman’s book, The World Is Flat, and thinking that it sounded good in theory, but there would be years, if not decades, of... View Details
- Web
Chinese Competition and Emerging Technologies - A Chronicle of the China Trade
of the China Trade Introduction Doing Business with China Augustine Heard & Co. The Canton Trade Commodities & Currencies Treaty Ports & Compradors Clippers & Steamships Exploring View Details
- Article
What It Takes to Reshore Manufacturing Successfully
By: Willy C. Shih
The data on comparative labor and energy costs may seem compelling, but the process of bringing assembly work back to domestic factories from abroad is substantially more challenging than the economics alone would predict. This paper looks at some of the issues firms... View Details
Keywords: Manufacturing; Manufacturing Costs; Manufacturing Strategy; U.S. Competitiveness; Competitiveness; Labor Force Participation; Labor Management; Trade; Production; Management Practices and Processes; Manufacturing Industry; United States; China
Shih, Willy C. "What It Takes to Reshore Manufacturing Successfully." MIT Sloan Management Review 56, no. 1 (Fall 2014): 55–62.
- April 2010
- Article
Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930
By: Andre C. Martinez Fritscher and Aldo Musacchio
There is a large literature looking at the determinants of country risk (defined as the difference between the yield of a sovereign's bonds and the risk-free rate). In this paper, we contribute to the discussion by arguing that an important explanatory factor is the... View Details
Keywords: Bonds; Performance Capacity; Taxation; Revenue; Governance; Geographic Location; Trade; Price; Cost of Capital; Risk and Uncertainty; Public Administration Industry; Brazil
Martinez Fritscher, Andre C., and Aldo Musacchio. "Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930." Financial History Review 17, no. 1 (April 2010). (Winner of the Gerry Feldman Young Scholar Prize for the best paper of (a) young scholar(s) of the European Association of Banking and Financial History, 2010-2011.)
- 2009
- Working Paper
Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930
By: Andre C. Martinez Fritscher and Aldo Musacchio
There is a large amount of literature that aims to explain what determines country risk (defined as the difference between the yield of a sovereign's bonds and the risk free rate). In this paper, we contribute to the discussion by arguing that an important explanatory... View Details
Keywords: Trade; Cost of Capital; Revenue; Sovereign Finance; Goods and Commodities; Taxation; Business History; Risk and Uncertainty; Brazil
Martinez Fritscher, Andre C., and Aldo Musacchio. "Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930." Harvard Business School Working Paper, No. 10-027, October 2009. (Revised December 2009.)
- 2009
- Working Paper
Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930
By: Andre C. Martinez Fritscher and Aldo Musacchio
There is a large amount of literature that aims to explain what determines country risk (defined as the difference between the yield of a sovereign's bonds and the risk-free rate). In this paper, we contribute to the discussion by arguing that an important explanatory... View Details
- December 2019
- Article
Brokers and Order Flow Leakage: Evidence from Fire Sales
By: Andrea Barbon, Marco Di Maggio, Francesco Franzoni and Augustin Landier
Using trade-level data, we study whether brokers play a role in spreading order flow information. We focus on large portfolio liquidations, which result in temporary drops in stock prices, and identify the brokers that intermediate these trades. We show that these... View Details
Keywords: Predatory Trading; Back Running; Fire Sales; Brokers; Stocks; Price; Information; Knowledge Dissemination; Ethics
Barbon, Andrea, Marco Di Maggio, Francesco Franzoni, and Augustin Landier. "Brokers and Order Flow Leakage: Evidence from Fire Sales." Journal of Finance 74, no. 6 (December 2019): 2707–2749. (LEAD ARTICLE.)
- 2021
- Working Paper
The Value of Intermediation in the Stock Market
By: Marco Di Maggio, Mark Egan and Francesco Franzoni
We estimate a structural model of broker choice to quantitatively decompose the value that institutional investors attach to broker services. Studying over 300 million institutional equity trades, we find that investors are sensitive to both explicit and implicit... View Details
Keywords: Financial Intermediation; Institutional Investors; Research Analysts; Broker Networks; Equity Trading; Institutional Investing; Financial Services Industry
Di Maggio, Marco, Mark Egan, and Francesco Franzoni. "The Value of Intermediation in the Stock Market." Harvard Business School Working Paper, No. 20-016, August 2019. (Revised June 2021. Accepted at the Journal of Financial Economics.)
- June 2022
- Case
Business Implications from Regulating Carbon Emissions in the EU
By: George Serafeim and Benjamin Maletta
In the beginning of the 21st century, the European Union (the EU) had led the global fight against climate change with a wide array of policy measures. The EU’s primary approach to climate policy had been taxation via the European Union Emissions Trading System (EU... View Details
Keywords: Regulation; Carbon Emissions; Trade; Sustainability; Decarbonization; Performance; Climate Change; Analysis; Strategy; Taxation; Policy; Environmental Regulation; Industry Structures; European Union
Serafeim, George, and Benjamin Maletta. "Business Implications from Regulating Carbon Emissions in the EU." Harvard Business School Case 122-106, June 2022.
- 2015
- Working Paper
Moving to the Adjacent Possible: Discovering Paths for Export Diversification in Rwanda
By: Ricardo Hausmann and Jasmina Chauvin
How can Rwanda, which currently has one of the lowest levels of income and exports per capita in the world, grow and diversify its economy in presence of significant constraints? We analyze Rwanda's historical growth and trade performance and find that Rwanda's high... View Details
Keywords: Export Diversification; Industrialization; Economic Complexity; International Trade; Rwanda; Diversification; Trade; Transportation; Developing Countries and Economies; Rwanda
Hausmann, Ricardo, and Jasmina Chauvin. "Moving to the Adjacent Possible: Discovering Paths for Export Diversification in Rwanda." Center for International Development at Harvard University Working Paper, No. 24, April 2015.
- Article
The Value of Intermediation in the Stock Market
By: Marco Di Maggio, Mark Egan and Francesco Franzoni
We estimate a structural model of broker choice to quantitatively decompose the value that institutional investors attach to broker services. Studying over 300 million institutional equity trades, we find that investors are sensitive to both explicit and implicit... View Details
Keywords: Financial Intermediation; Institutional Investors; Research Analysts; Broker Networks; Equity Trading; Institutional Investing
Di Maggio, Marco, Mark Egan, and Francesco Franzoni. "The Value of Intermediation in the Stock Market." Journal of Financial Economics 145, no. 2A (August 2022): 208–233.
- Article
Analyzing Scrip Systems
By: Kris Johnson, David Simchi-Levi and Peng Sun
Scrip systems provide a nonmonetary trade economy for exchange of resources. We model a scrip system as a stochastic game and study system design issues on selection rules to match potential trade partners over time. We show the optimality of one particular rule in... View Details
Keywords: ＂Repeated Games＂; Stochastic Trust Game; Dynamic Program; P2P Lending; Scrip Systems; Artificial Currency; Non-monetary Trade Economies; Marketplace Matching; Currency; Operations; Game Theory
Johnson, Kris, David Simchi-Levi, and Peng Sun. "Analyzing Scrip Systems." Operations Research 62, no. 3 (May–June 2014): 524–534.
- March 1996 (Revised April 2006)
- Case
Global Equity Markets: The Case of Royal Dutch and Shell
By: Kenneth A. Froot and Andre F. Perold
Royal Dutch and Shell common stocks are securities with linked cash flow, so that the ratio of their stock prices should be fixed. In fact, the ratio is highly variable, moving with the markets where the securities are intensively traded. Royal Dutch trades more... View Details
Keywords: International Equity Markets; International Cost Of Capital; Cross-border Valuation; International Finance; Equity; Cost of Capital; Valuation; Cash Flow
Froot, Kenneth A., and Andre F. Perold. "Global Equity Markets: The Case of Royal Dutch and Shell." Harvard Business School Case 296-077, March 1996. (Revised April 2006.)
- October 2012
- Case
Hill Country Snack Foods Co.
By: W. Carl Kester and Craig Stephenson
Hill Country Snack Foods, located in Austin, Texas, manufactures, markets, and distributes snack foods and frozen treats. The CEO is passionate about maximizing shareholder value and believes in keeping tight control over costs and operating the business as efficiently... View Details
Keywords: United States; Financial Strategy; Debt Management; Retail Trade; Risk Management; Food; Capital Structure; Corporate Finance; Retail Industry; Food and Beverage Industry; Texas
Kester, W. Carl, and Craig Stephenson. "Hill Country Snack Foods Co." Harvard Business School Brief Case 913-517, October 2012.
- June 2023
- Article
Why Is Dollar Debt Cheaper? Evidence from Peru
By: Bryan Gutiérrez, Victoria Ivashina and Juliana Salomao
In emerging markets, a significant share of corporate loans are denominated in dollars. Using novel data that enables us to see currency and the cost of credit, in addition to several other transaction-level characteristics, we re-examine the reasons behind dollar... View Details
Keywords: Emerging Market Corporate Debt; Currency Mismatch; Liability Dollarization; Carry Trade; Currency; Emerging Markets; Borrowing and Debt; Interest Rates; Peru
Gutiérrez, Bryan, Victoria Ivashina, and Juliana Salomao. "Why Is Dollar Debt Cheaper? Evidence from Peru." Journal of Financial Economics 148, no. 3 (June 2023): 245–272.
- 2020
- Working Paper
Cutting the Gordian Knot of Employee Health Care Benefits and Costs: A Corporate Model Built on Employee Choice
By: Regina E. Herzlinger and Barak D. Richman
The U.S. employer-based health insurance tax exclusion created a system of employer-sponsored insurance (ESI) with limited insurance choices and transparency that may lock employed households into health plans that are costlier or different from those they prefer to... View Details
Keywords: After-tax Income; Consumer-driven Health Care; Health Care Costs; Health Insurance; Income Inequality; Tax Policy; Health Care and Treatment; Cost; Insurance; Employees; Income; Taxation; Policy; United States
Herzlinger, Regina E., and Barak D. Richman. "Cutting the Gordian Knot of Employee Health Care Benefits and Costs: A Corporate Model Built on Employee Choice." Duke Law School Public Law & Legal Theory Series, No. 2020-4, December 2019. (Revised January 2021.)