Publications
Publications
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- All HBS Web
(117,452)
- Faculty Publications (70)
- 2007
- Case
Deriving by Doing: A New Approach to Teaching Finance
By: Joshua Coval, Jonathan Gadzik and Erik Stafford
- May 2007
- Article
Corporate Financing Decisions When Investors Take the Path of Least Resistance
By: Malcolm Baker, Joshua Coval and Jeremy Stein
We explore the consequences for corporate financial policy that arise when investors exhibit inertial behavior. One implication of investor inertia is that, all else equal, a firm pursuing a strategy of equity-financed growth will prefer a stock-for-stock merger to... View Details
- August 2005 (Revised May 2007)
- Case
Partners Healthcare
By: Joshua D. Coval
Focuses on the portfolio allocation decision of a passive fund manager. Provides a setting to study portfolio theory, including mean-variance analysis, the capital market line, and the efficient frontier. View Details
- June 2005 (Revised October 2007)
- Background Note
Market Efficiency
By: Joshua D. Coval, Erik Stafford, Rodrigo Osmo, John Jernigan, Zachary Page and Paul Passoni
Covers how prices react to information, the incentives for bringing information into prices, and the paradox of market efficiency in equilibrium--for investors to work hard keeping markets efficient, they must always be somewhat inefficient at the margin. Uses separate... View Details
- June 2005 (Revised October 2007)
- Teaching Note
Market Efficiency (TN)
By: Joshua D. Coval and Erik Stafford
Teaching Note to (2-205-081). View Details
- June 2005 (Revised October 2007)
- Teaching Note
Price Formation (TN)
By: Joshua D. Coval and Erik Stafford
Teaching Note to (2-205-076) and (2-205-077). View Details
Keywords: Price
- June 2005 (Revised October 2007)
- Background Note
The Law of One Price
By: Joshua D. Coval, Erik Stafford, Rodrigo Osmo, John Jernigan, Zack Page and Paulo Passoni
Demonstrates the Law of One Price in practice. Using synthetic securities, students should observe opportunities to earn profits when spreads emerge between portfolios that offer identical payoffs. Uses separate uptick financial simulation software. View Details
Keywords: Price
- June 2005 (Revised October 2007)
- Teaching Note
The Law of One Price (TN)
By: Joshua D. Coval and Erik Stafford
Teaching Note to (2-205-079). View Details
Keywords: Price
- June 2005
- Article
Judging Fund Managers by the Company They Keep
By: Randolph B. Cohen, Joshua Coval and Lubos Pastor
- 2005
- Working Paper
Asset Fire Sales (and Purchases) in Equity Markets
By: Joshua Coval and Erik Stafford
- 2005
- Other Unpublished Work
Corporate Financing Decisions When Investors Take the Path of Least Resistance
By: Malcolm Baker, Joshua Coval and Jeremy Stein
We explore the consequences for corporate financial policy that arise when investors exhibit inertial behavior. One implication of investor inertia is that, all else equal, a firm pursuing a strategy of equity-financed growth will prefer a stock-for-stock merger to... View Details
- March 2005
- Article
Financial Intermediation As a Beliefs-Bridge between Optimists and Pessimists
By: Joshua D. Coval and Anjan Thakor
- October 2004
- Article
Demand for Portfolio Insurance and Index Option Prices
By: Kaushik Amin, Joshua D. Coval and H. Nejat Seyhun
- 2004
- Working Paper
Judging Fund Managers by the Company They Keep
By: Randolph Cohen, Joshua Coval and Luboš Pástor
We develop a performance evaluation approach in which a fund manager's skill is judged by the extent to which his investment decisions resemble the decisions of managers with distinguished performance records. The proposed performance measures are estimated more... View Details
- 2003
- Working Paper
Can Individual Investors Beat the Market?
By: Joshua D. Coval, David Hirshleifer and Tyler Shumway
- 2003
- Working Paper
Financial Intermediation as a Beliefs-Bridge Between Optimists and Pessimists
By: Joshua D. Coval and Anjan V. Thakor
- 2003
- Working Paper
International Capital Flows When Investors Have Local Information
By: Joshua D. Coval