Publications
Publications
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- All HBS Web
(120,130)
- Faculty Publications (237)
- February 1988 (Revised November 1994)
- Background Note
Note on Fundamental Parity Conditions
By: W. Carl Kester and Richard P. Melnick
Provides a simple framework for analyzing expected exchange rate movements. Basic parity and equilibrium conditions are presented including purchasing power parity, forward parity, interest rate parity, the domestic Fisher effect, and the international Fisher effect... View Details
- October 1987 (Revised November 1991)
- Case
Fiat--1986
By: W. Carl Kester and Richard P. Melnick
Describes Fiat's 1986 Euro-equity offering of $2.1 billion of stock. The offering proved to be highly problematic, particularly for the lead manager, Deutsche Bank, and raises questions about the future of the Euro-equity market. Students are provided opportunities to... View Details
- September 1987 (Revised November 1991)
- Case
International Pharmaceuticals Inc.
By: W. Carl Kester and Richard P. Melnick
Keywords: Pharmaceutical Industry
- September 1987 (Revised November 1992)
- Background Note
Note on Transaction and Translation Exposure
By: W. Carl Kester and Richard P. Melnick
Describes the transaction and translation exposures that companies doing business internationally face when foreign exchange rates change. Also discusses how to measure and cover both types of exposure. Covering techniques are demonstrated using examples of forward... View Details
- March 1987 (Revised June 1991)
- Case
Understanding the U.S. Dollar in 1987
By: W. Carl Kester and Richard P. Melnick
- February 1987 (Revised September 1991)
- Background Note
Foreign Exchange Market, Background Note and Problem Set, The
By: W. Carl Kester and Richard P. Melnick
Discusses the background of the foreign exchange market. This includes information about the participants and how the market operates. The problem set verses students in the arithmetic in the many common foreign exchange problems such as calculating forward premium and... View Details
Keywords: Financial Markets
- February 1987 (Revised November 1991)
- Supplement
Distillers Company plc (B)
By: W. Carl Kester and Richard P. Melnick
Keywords: Food and Beverage Industry
- February 1987 (Revised November 1991)
- Supplement
Distillers Company plc (C)
By: W. Carl Kester and Richard P. Melnick
Keywords: Food and Beverage Industry
- February 1987 (Revised November 1991)
- Supplement
Distillers Company plc (D)
By: W. Carl Kester and Richard P. Melnick
Keywords: Food and Beverage Industry
- February 1987 (Revised November 1991)
- Supplement
Distillers Company plc (E)
By: W. Carl Kester and Richard P. Melnick
Keywords: Food and Beverage Industry
- January 1987 (Revised December 1991)
- Case
Distillers Company plc (A)
By: W. Carl Kester and Richard P. Melnick
- January 1987 (Revised September 1991)
- Case
Walt Disney Co.'s Yen Financing
By: W. Carl Kester and William B. Allen
Walt Disney is considering hedging future yen inflows from Disney Tokyo. It is evaluating techniques using FX Forwards, swaps, and Yen term borrowings. Goldman Sachs presents a rather unusual but potentially attractive solution: Disney could issue ECU Eurobonds and... View Details
- January 1987 (Revised November 1991)
- Case
R.J. Reynolds International Financing
By: W. Carl Kester and William B. Allen
Reynolds must source a substantial portion of the financing of its Nabisco acquisition in offshore bond markets. Morgan Guaranty has proposed a yen/dollar dual currency Eurobond that could be hedged into dollars. This structure is compared to Eurodollar Bonds, Euroyen... View Details
- October 27, 1986
- Article
Why Dollar Bashing Doesn't Work
By: Timothy A. Luehrman and W. Carl Kester
Keywords: Finance
- August 1986 (Revised November 1991)
- Case
Minebea Co. Ltd.
By: W. Carl Kester
Keywords: Electronics Industry
- July 1986 (Revised July 1991)
- Case
Nippon-WTI Ltd.
By: W. Carl Kester and Glynn Ferguson
A Japanese joint venture between a U.S. parent and a Japanese parent has proposed that 100% of the U.S. parent's product be produced in Japan rather than the 40% currently being manufactured there. This would require the U.S. parent to give up a dollar profit earned on... View Details
Keywords: Joint Ventures; Currency Exchange Rate; Profit; Product; Production; Strategy; Manufacturing Industry; Asia; Japan; United States
- May 1986
- Case
Disposable Diaper Industry in 1974, Software Case
By: W. Carl Kester
Keywords: Consumer Products Industry