Publications

July 2007 (Revised November 2007)
Case

Leasing Computers at Persistent Learning

Newly public Persistent Learning is acquiring vital computer assets. They need to determine how the lease or purchase decision will impact their financial statements, and how the market will react given previously forecast earnings and competitor's accounting. View Details

Keywords: Information Infrastructure; Financial Statements; Leasing

18 Feb 2009
First Look

First Look: February 18, 2009

offer a warning label to accompany the practice of setting goals. Level Playing Fields in International Financial Regulation Authors:Lucy White and Alan Morrison Publication:Journal of Finance (forthcoming)... View Details

Keywords: Martha Lagace

01 Mar 2012
News

The Incentive Bubble

21 Feb 2008
Working Paper Summaries

Do Legal Origins Have Persistent Effects Over Time? A Look at Law and Finance around the World c. 1900

Keywords: by Aldo Musacchio; Legal Services

March 2005 (Revised February 2006)
Case

Advising on Currency Risk at ICICI Bank

In March 2003, a client approached the Markets Advisory Group at ICICI Bank, India's second largest bank, about a hedging transaction. The hedge involved multiple interest rates and currencies. Shilpa Kumar, head of the Markets Advisory Group, has to put together a... View Details

Keywords: Risk and Uncertainty; Currency Exchange Rate; Capital Markets; Investment Funds; Banks and Banking; Financial Services Industry; Financial Services Industry; India

Research Summary

Dawn Matsumoto's research investigates managers' financial reporting decisions including the incentives driving these decisions and the impact of these decisions on capital market participants. She is interested in the role of financial intermediaries (such as... View Details

January 2004 (Revised June 2004)
Case

Innovation at the Treasury: Treasury Inflation-Protection Securities (A)

By: Kenneth A. Froot, Peter A. Hecht and Christopher Edward James Payton

In 1997, the U.S. Treasury was deciding whether to proceed with a proposal to issue inflation-indexed bonds. This case explores the challenges facing innovation in the financial markets as the Treasury tries to determine whether to introduce Treasury... View Details

Keywords: Inflation; Innovation; Federal Government; Securities; Debt Securities; Risk Management; Bonds; Investment Portfolio; Capital Markets; Inflation and Deflation; Government and Politics; Innovation and Invention; United States

June 2018
Article

Deviations from Covered Interest Rate Parity

By: Wenxin Du, Alexander Tepper and Adrien Verdelhan

We find that deviations from the covered interest rate parity (CIP) condition imply large, persistent, and systematic arbitrage opportunities in one of the largest asset markets in the world. Contrary to the common view, these deviations for major currencies are not... View Details

Keywords: Interest Rates; Financial Markets; Banks and Banking; Price

Find at Harvard

April 2018 (Revised March 2019)
Case

Tesla-SolarCity

By: E. Scott Mayfield and Emil N. Siriwardane

On June 21, 2016, Tesla Motors, Inc. announced its offer to acquire SolarCity, bringing CEO Elon Musk one step closer to completing his goal of moving the world from a hydrocarbon-based economy to a solar-electric one. Markets and analysts were mixed in their reaction... View Details

Keywords: Tesla; SolarCity; Solar Power; Mergers and Acquisitions; Renewable Energy; Goals and Objectives; Finance

19 Apr 2018
Video

Alpha Vantage Final Pitch New Venture Competition 2018 Business Track

2015
Chapter

Corporate and Integrated Reporting: A Functional Perspective

By: Robert G. Eccles and George Serafeim

In this chapter, we present the two primary functions of corporate reporting (information and transformation) and why currently isolated financial and sustainability reporting are not likely to effectively perform these functions. We describe the concept of integrated... View Details

Keywords: Information; Integrated Corporate Reporting; Transformation

SSRN

30 Jun 2010
News

In A.I.G. Bailout, Amnesty for Big Banks

March 2005
Case

Chicago Board Options Exchange (CBOE), The

By: George C. Chacko, Anders Sjoman, Daniela Beyersdorfer and George Robert Nelson

The Chicago Board Options Exchange (CBEO) must decide how to respond to new competition in the market for financial options. Options have typically been a very liquid asset class, despite the fact that many single-name options are listed on the CBOE, the second largest... View Details

Keywords: Internet and the Web; Financial Liquidity; Financial Markets; Financial Services Industry; Chicago

February 2012 (Revised December 2013)
Case

Saks Incorporated

By: Carliss Baldwin and Stefon Burns

Saks Fifth Avenue, a luxury department store chain, has been hard hit by the 2008 financial crisis and stock market crash. Speculation about impending bankruptcy is rampant in the press. The CEO, Stephen Sadove, must decide how to respond. View Details

Keywords: Retail; Fashion; Insolvency and Bankruptcy; Financial Crisis; Fashion Industry; Retail Industry; United States

February 2016 (Revised February 2017)
Case

Mattermark

By: Jeffrey Bussgang and Annelena Lobb

Mattermark, a software-as-a-service company that sold software allowing companies to access financial information about privately-held companies and startups, was at a turning point. CEO Danielle Morrill had to allocate investment funding from a Series A round. She... View Details

Keywords: Entrepreneurship; Applications and Software; Business Startups; Marketing; Strategy; Technology Industry; United States

November 2010 (Revised May 2014)
Case

Dow's Bid for Rohm and Haas

By: Benjamin C. Esty and David Lane

This case analyzes Dow Chemical Company's proposed acquisition of Rohm and Haas in 2008. The $18.8 billion acquisition was part of Dow's strategic transformation from a slow-growth, low-margin, and cyclical producer of basic chemicals into a higher-growth,... View Details

Keywords: Mergers and Acquisitions; Financial Crisis; Capital Structure; Financial Condition; Financial Management; Contracts; Lawsuits and Litigation; Risk and Uncertainty; Valuation; Chemical Industry

December 2001 (Revised February 2008)
Case

Borealis

By: Robert S. Kaplan and Bjorn N. Jorgensen

When Borealis, a European producer of plastics, used a traditional, time-consuming budgeting process, the budget was quickly out of date in a competitive environment characterized by continually changing input and output prices and dynamic market conditions. This case... View Details

Keywords: Activity Based Costing and Management; Budgets and Budgeting; Forecasting and Prediction; Investment; Governance Controls; Balanced Scorecard; Management Systems; Manufacturing Industry; Europe