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Show Results For
-
All HBS Web
(2,323)
- People (7)
- News (359)
- Research (1,329)
- Events (10)
- Multimedia (14)
- Faculty Publications (868)
- March 2005
- Article
Sovereign Debt As a Contingent Claim: A Quantitative Approach
By: Laura Alfaro and Fabio Kanczuk
We construct a dynamic equilibrium model with contingent service and adverse selection to quantitatively study sovereign debt. In the model, benefits of defaulting are tempered by higher future interest rates. For a wide set of parameters, the only equilibrium is one...
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Keywords:
Sovereign Finance;
Borrowing and Debt;
Interest Rates;
Balance and Stability;
Risk and Uncertainty;
Risk Management;
Mathematical Methods;
Management Style;
Segmentation;
Debt Securities;
Banking Industry
Alfaro, Laura, and Fabio Kanczuk. "Sovereign Debt As a Contingent Claim: A Quantitative Approach." Journal of International Economics 65, no. 2 (March 2005).
- 2022
- Article
Climate Change Vulnerability and Currency Returns
By: Alex Cheema-Fox, George Serafeim and Hui (Stacie) Wang
Using measures of physical risk from climate change, we develop a methodology to allocate currency pairs according to a country’s vulnerability and construct portfolios with decreasing vulnerability to physical risk. We show that non-G10 currencies are more vulnerable...
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Keywords:
Climate Finance;
Vulnerabilities;
Currencies;
Foreign Exchange;
Climate Change;
Currency;
Natural Disasters
Cheema-Fox, Alex, George Serafeim, and Hui (Stacie) Wang. "Climate Change Vulnerability and Currency Returns." Financial Analysts Journal 78, no. 4 (2022): 37–58.
- Web
The JD/MBA Seminar: The Perfect Practice Ground - MBA
Blog Blog MBA Voices Filter Results Arrow Down Arrow Up Read posts from Author Alumni Author Career and Professional Development Staff Author HBS Community Author HBS Faculty Author MBA Admissions Author MBA Students Topics Topics 1st Year (RC) 2+2 Program 2nd Year...
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- July 2022
- Article
The Pass-Through of Uncertainty Shocks to Households
By: Marco Di Maggio, Amir Kermani, Rodney Ramcharan, Vincent Yao and Edison Yu
Using new employer-employee matched data, this paper investigates the impact of uncertainty, as measured by idiosyncratic stock market volatility, on individual outcomes. We find that firms provide at best partial insurance to their workers. An increase in firm-level...
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Keywords:
Employment Risk;
Consumption;
Employment;
Risk and Uncertainty;
System Shocks;
Insurance;
Household;
Spending
Di Maggio, Marco, Amir Kermani, Rodney Ramcharan, Vincent Yao, and Edison Yu. "The Pass-Through of Uncertainty Shocks to Households." Journal of Financial Economics 145, no. 1 (July 2022): 85–104. (2023 Fama-DFA Prize for the Best Paper Published in the Journal of Financial Economics in Asset Pricing, 2nd place.)
- 27 Nov 2019
- News
Beware Footnote Mischief
- 17 Nov 2016
- Working Paper Summaries
Sovereign Risk, Currency Risk, and Corporate Balance Sheets
Keywords:
by Wenxin Du and Jesse Schreger
- 2014
- Chapter
Better Timing of Cyber Conflict
By: Elisabeth Paulson and Christopher Griffin
In this paper, we construct a model of cyber-weapon deployment and attempt to determine an optimal deployment time for cyberweapons using this model. We compare and contrast our approach to that in Axelrod and Iliev (R. Axelrod and R. Iliev. Timing of cyber conflict....
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Paulson, Elisabeth, and Christopher Griffin. "Better Timing of Cyber Conflict." In Proceedings of the Third ASE International Conference on Cyber Security. Los Angeles, CA: Academy of Science and Engineering, 2014.
- September 2018
- Article
Aggregation of Consumer Ratings: An Application to Yelp.com
By: Weijia Dai, Ginger Jin, Jungmin Lee and Michael Luca
Because consumer reviews leverage the wisdom of the crowd, the way in which they are aggregated is a central decision faced by platforms. We explore this "rating aggregation problem" and offer a structural approach to solving it, allowing for (1) reviewers to vary in...
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Keywords:
User Generated Content;
Crowdsourcing;
Yelp;
Social and Collaborative Networks;
Information;
Internet and the Web;
Learning;
Mathematical Methods;
E-commerce
Dai, Weijia, Ginger Jin, Jungmin Lee, and Michael Luca. "Aggregation of Consumer Ratings: An Application to Yelp.com." Quantitative Marketing and Economics 16, no. 3 (September 2018): 289–339.
- April 2012
- Article
The Changing Ecology of Teams: New Directions for Teams Research
By: Ruth Wageman, Heidi K. Gardner and Mark Mortensen
The nature of collaboration has been changing at an accelerating pace, particularly in the last decade. Much of the published work in teams research, however, is still focused on the archetypal team that has well-defined membership, purposes, leadership, and standards...
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Keywords:
Groups and Teams;
Research;
Change Management;
Leadership;
Standards;
Performance Effectiveness;
Theory;
Civil Society or Community
Wageman, Ruth, Heidi K. Gardner, and Mark Mortensen. "The Changing Ecology of Teams: New Directions for Teams Research." Journal of Organizational Behavior 33, no. 3 (April 2012): 301–315.
Buy Now, Pay Later Credit: User Characteristics and Effects on Spending Patterns
Firms offering "buy now, pay later" (BNPL) point-of-sale loans with minimal underwriting have grown in popularity in the last couple of years. According to Worldpay, BNPL accounted for 2.1% – or roughly $97b – of global e-commerce transactions in 2020, and is...
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- September 2019 (Revised May 2020)
- Supplement
Keroche (F): Future Growth Plans
By: Ramon Casadesus-Masanell and Pippa Tubman Armerding
This case describes Keroche co-founder Tabitha Karanja’s 2012 decision to invest in additional production capacity. In November 2012, with a loan from Barclay’s bank, Keroche began constructing a new state-of-the-art beer brewery using German technology. The new plant,...
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Keywords:
Keroche;
Alcohol;
Aloholic Beverages;
Beer;
Production Capacity;
Growth;
Business Ventures;
Business Exit or Shutdown;
Business Growth and Maturation;
Business Startups;
Small Business;
Family Business;
Crime and Corruption;
Customer Focus and Relationships;
Decisions;
Income;
Demographics;
Geographic Scope;
Geographic Location;
Goods and Commodities;
Government Legislation;
Growth and Development;
Business History;
Lawsuits and Litigation;
Laws and Statutes;
Lawfulness;
Goals and Objectives;
Consumer Behavior;
Market Entry and Exit;
Problems and Challenges;
Safety;
Social Issues;
Poverty;
Strategy;
Competition;
Entrepreneurship;
Manufacturing Industry;
Food and Beverage Industry;
Kenya;
Nairobi;
Africa
Casadesus-Masanell, Ramon, and Pippa Tubman Armerding. "Keroche (F): Future Growth Plans." Harvard Business School Supplement 720-395, September 2019. (Revised May 2020.)
- November 2014
- Article
Government Green Procurement Spillovers: Evidence from Municipal Building Policies in California
By: Timothy Simcoe and Michael W. Toffel
We study how government green procurement policies influence private-sector demand for similar products. Specifically, we measure the impact of municipal policies requiring governments to construct green buildings on private-sector adoption of the U.S. Green Building...
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Keywords:
Public Procurement;
Green Building;
Quality Certification;
Environmental Policy;
Buildings and Facilities;
Environmental Sustainability;
Policy;
Government and Politics;
Green Technology Industry;
Public Administration Industry;
California
Simcoe, Timothy, and Michael W. Toffel. "Government Green Procurement Spillovers: Evidence from Municipal Building Policies in California." Journal of Environmental Economics and Management 68, no. 3 (November 2014): 411–434. (Lead article.)
- August 2000
- Case
Manila Water Company (A)
By: Michael Beer and Elizabeth Weldon
On February 3, 1997, the east zone of the Manila Metropolitan Water and Sewerage System (MWSS) was taken over by the Manila Water Co. (MWC), a newly created joint venture between the Ayala Corp., a large Filipino conglomerate; Bechtel Enterprises, Inc., an American...
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Keywords:
Change Management;
Organizational Change and Adaptation;
Horizontal Integration;
Privatization;
Problems and Challenges;
Utilities Industry
Beer, Michael, and Elizabeth Weldon. "Manila Water Company (A)." Harvard Business School Case 401-014, August 2000.
- October 2012 (Revised February 2014)
- Case
Keystone XL Pipeline
On January 18, 2012, President Obama rejected TransCanada's application for a "national interest" determination to approve construction of the Keystone XL Pipeline. Keystone XL was a 1,700 mile long, 36-inch diameter pipeline to transport 1.1 million barrels a day of...
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Keywords:
Energy;
Petroleum;
Environmentalism;
United States;
Oil Prices;
National Security;
Environmental Sustainability;
Energy Sources;
Energy Industry;
Canada;
United States
Vietor, Richard H. K. "Keystone XL Pipeline." Harvard Business School Case 713-039, October 2012. (Revised February 2014.)
- Research Summary
Conceptualizing and measuring environmental sustainability
This research involves developing clarity around the murky construct of environmental sustainability, and improving techniques to measure corporate environmental performance. My prior research in this domain includes View Details
- May 2017
- Article
Distracted Shareholders and Corporate Actions
By: Elisabeth Kempf, Alberto Manconi and Oliver Spalt
Investor attention matters for corporate actions. Our new identification approach constructs firm-level shareholder "distraction" measures, by exploiting exogenous shocks to unrelated parts of institutional shareholders' portfolios. Firms with "distracted" shareholders...
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Keywords:
Investors;
Business and Shareholder Relations;
Executive Compensation;
Stocks;
Mergers and Acquisitions
Kempf, Elisabeth, Alberto Manconi, and Oliver Spalt. "Distracted Shareholders and Corporate Actions." Review of Financial Studies 30, no. 5 (May 2017): 1660–1695.
- 2021
- Article
Leisure Beliefs and the Subjective Well-being of Nations
By: Lucia Macchia and A.V. Whillans
Here, we construct a data set of 79 countries (N = 220,000) and explore whether differences in the prioritization of time (leisure) vs. money (work) explain cross-country differences in happiness. Consistent with our predictions, countries whose citizens value leisure...
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Keywords:
Leisure;
Work;
Subjective Well-being;
Public Policy;
Employment;
Happiness;
Governance;
Policy
Macchia, Lucia, and A.V. Whillans. "Leisure Beliefs and the Subjective Well-being of Nations." Journal of Positive Psychology 16, no. 2 (2021): 198–206. (Shared Authorship.)
- 2012
- Article
Organizational Identity as an Anchor for Adaptation: An Emerging Market Perspective
By: Andres Hatum, Luciana Silvestri, Roberto Vassolo and Andrew Pettigrew
There is little doubt that organizational identity—that which is central, distinctive, and enduring about an organization—mediates in adaptive processes. Exactly how this mediation takes place, and whether it is favorable or unfavorable to adaptation, must still be...
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Keywords:
Organizational Identity;
Emerging Economies;
Organizational Change and Adaptation;
Organizational Culture
Hatum, Andres, Luciana Silvestri, Roberto Vassolo, and Andrew Pettigrew. "Organizational Identity as an Anchor for Adaptation: An Emerging Market Perspective." International Journal of Emerging Markets 7, no. 3 (2012): 305–334.