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Show Results For
- All HBS Web
(2,415)
- People (4)
- News (529)
- Research (1,651)
- Events (9)
- Multimedia (2)
- Faculty Publications (560)
- April 1975 (Revised November 1984)
- Case
Enzone Petroleum Corp.
By: Thomas R. Piper
A large integrated oil company is debating whether to switch from a single hurdle rate to multiple hurdle rates for project analysis purposes. Raises questions on: 1) determination of the cost of equity; 2) the usefulness of multiple hurdle rates to adjust for project... View Details
Piper, Thomas R. "Enzone Petroleum Corp." Harvard Business School Case 275-113, April 1975. (Revised November 1984.)
- January 2004 (Revised May 2004)
- Background Note
Professional Associations
By: Ashish Nanda
This case discusses why society grants professional associations the rights of certification and self-regulation. In exercising these rights, professional associations serve client interests but also the interest of member practitioners. The case discusses how... View Details
Nanda, Ashish. "Professional Associations." Harvard Business School Background Note 904-054, January 2004. (Revised May 2004.)
- January 2009 (Revised June 2010)
- Case
Lyons Document Storage Corporation: Bond Math
By: William J. Bruns Jr.
In 2009 a recent MBA must analyze the possible refunding of bonds issued in 2000 when interest rates were much higher. She must consider the possible consequences of repurchasing company bonds outstanding using cash that might be obtained by issuing new bonds at a... View Details
Keywords: Financial Accounting; Quantitative Analysis; Securities; Debt Securities; Bonds; Cash Flow; Mathematical Methods; Accounting; Interest Rates
Bruns, William J., Jr. "Lyons Document Storage Corporation: Bond Math." Harvard Business School Brief Case 093-215, January 2009. (Revised June 2010.)
- 18 Apr 2017
- First Look
First Look at New Ideas, April 18
https://www.hbs.edu/faculty/Pages/item.aspx?num=52520 Interest Rate Conundrums in the Twenty-First Century By: Hanson, Samuel G., David O. Lucca, and Jonathan H. Wright Abstract—A large literature argues that... View Details
Keywords: by Sean Silverthorne
- 2018
- Working Paper
Corporate Refinancing, Covenants, and the Agency Cost of Debt
By: Daniel Green
How valuable are restrictive debt covenants in reducing the agency costs of debt? I exploit the revealed preference decision to refinance fixed-coupon bonds, which weighs observable interest rate savings against the unobservable costs of a change in restrictive... View Details
Keywords: Covenants; Refinancing; Corporate Bonds; Agency Costs; Debt Policy; Borrowing and Debt; Bonds; Interest Rates
Green, Daniel. "Corporate Refinancing, Covenants, and the Agency Cost of Debt." Working Paper, 2018. (Revise and Resubmit, Journal of Finance.)
- 2020
- Working Paper
Mortgage Prepayment, Race, and Monetary Policy
By: Kristopher Gerardi, Paul Willen and David Hao Zhang
Over the period 2005 to 2015, Black borrowers paid more than 40 basis points higher mortgage interest rates than Non-Hispanic white borrowers. We show that the main reason is that Non-Hispanic white borrowers are much more likely to exploit periods of falling interest... View Details
Keywords: Mortgages; Consumer Behavior; Race; Ethnicity; Equality and Inequality; Policy; United States
Gerardi, Kristopher, Paul Willen, and David Hao Zhang. "Mortgage Prepayment, Race, and Monetary Policy." Working Paper, September 2020.
- 20 Jan 2009
- Research & Ideas
Risky Business with Structured Finance
modeling exercise (using the same computer tools employed by the ratings agencies) that demonstrates that the challenge of rating structured products lies in their extreme sensitivity to estimation... View Details
- March 2009 (Revised May 2013)
- Supplement
Kinyuseisaku: Monetary Policy in Japan (B)
By: Laura Alfaro and Akiko Kanno
Toshihiko Fukui, Governor of the Bank of Japan, faced a complex situation in the fall of 2007. An economic recovery had allowed the central bank to abandon its zero interest rate policy, which had been in place for years, and raise rates to 0.5%. The Bank of Japan was... View Details
Alfaro, Laura, and Akiko Kanno. "Kinyuseisaku: Monetary Policy in Japan (B)." Harvard Business School Supplement 709-056, March 2009. (Revised May 2013.)
- Research Summary
Overview
Professor Begenau’s research agenda is directed at better understanding how financial markets work and how they affect the real economy. She uses quantitative analysis to build both prescriptive and descriptive models concerning financial risk in banking, and she also... View Details
- December 2001 (Revised February 2004)
- Case
Argentina's Convertibility Plan
By: Rafael M. Di Tella and Ingrid Vogel
Describes the political and economic development in Argentina from 1989 to 1995, with a focus on the role of the currency board. Culminates in Argentine policy makers (Menem in particular) contemplating how to respond to the tequila crisis in the middle of 1995.... View Details
Keywords: Currency Exchange Rate; Government and Politics; Interest Rates; Balance and Stability; Developing Countries and Economies; Financial Crisis; Crisis Management; Policy; Currency; Macroeconomics; Argentina
Di Tella, Rafael M., and Ingrid Vogel. "Argentina's Convertibility Plan." Harvard Business School Case 702-002, December 2001. (Revised February 2004.)
- March 2011
- Article
Institutional Demand Pressure and the Cost of Corporate Loans
By: Victoria Ivashina and Zheng Sun
Between 2001 and 2007, annual institutional funding in highly leveraged loans went up from $32 billion to $426 billion, accounting for nearly 70% of the jump in total syndicated loan issuance over the same period. Did the inflow of institutional funding in the... View Details
Keywords: Leveraged Buyouts; Financial Crisis; Credit; Debt Securities; Financing and Loans; Interest Rates; Investment
Ivashina, Victoria, and Zheng Sun. "Institutional Demand Pressure and the Cost of Corporate Loans." Journal of Financial Economics 99, no. 3 (March 2011): 500–522.
- July 1997
- Background Note
Basic Capital Investment Analysis
By: William J. Bruns Jr.
Discusses the net present value and internal rate of return methods for analyzing capital investments. Assumes prior knowledge of compound interest and present value methods. View Details
Bruns, William J., Jr. "Basic Capital Investment Analysis." Harvard Business School Background Note 198-004, July 1997.
- October 2012 (Revised September 2015)
- Case
Altoona State Investment Board: July 2012
By: Josh Lerner and Nathaniel Burbank
Considers the decision faced by state pension fund manager Rod Calhoun as he decides whether to invest $200 million in Bain Capital's eleventh global buyout fund: Bain Capital Fund XI. For the fund, Bain was offering its limited partners a choice between three... View Details
Keywords: Management Fees; Bain Capital; Venture Capital; Private Equity; Leveraged Buyouts; Banking Industry; Boston
Lerner, Josh, and Nathaniel Burbank. "Altoona State Investment Board: July 2012." Harvard Business School Case 813-100, October 2012. (Revised September 2015.)
- January 2008 (Revised April 2009)
- Case
Kinyuseisaku: Monetary Policy in Japan (A)
By: Laura Alfaro and Akiko Kanno
Toshihiko Fukui, Governor of the Bank of Japan, faced a complex situation in the fall of 2007. An economic recovery had allowed the central bank to abandon its zero interest rate policy, which had been in place for years, and raise rates to 0.5%. The Bank of Japan was... View Details
Alfaro, Laura, and Akiko Kanno. "Kinyuseisaku: Monetary Policy in Japan (A)." Harvard Business School Case 708-017, January 2008. (Revised April 2009.)
- 14 May 2015
- News
A senseless subsidy
- February 2006 (Revised August 2006)
- Case
Auctioning Morningstar
By: Malcolm P. Baker and James Quinn
Morningstar, a publisher of data and ratings for mutual fund investors, is considering an auction-based approach to the company's upcoming IPO, with management weighing the risks and benefits of the auction approach vs. a traditional underwritten offering. View Details
Keywords: Financial Strategy; Initial Public Offering; Stock Shares; Cost vs Benefits; Strategy; Auctions; Business or Company Management; Conflict of Interests; Publishing Industry
Baker, Malcolm P., and James Quinn. "Auctioning Morningstar." Harvard Business School Case 206-023, February 2006. (Revised August 2006.)
- March 1986 (Revised July 1986)
- Case
Applications for Financial Futures
Consists of a series of four brief descriptions of the use of financial futures as hedging vehicles: a savings and loan hedging the rollover of three-month money market certificates with T-bill futures, a corporate debt issuer hedging the cost of a future debt issue... View Details
Keywords: Financial Instruments
Mason, Scott P. "Applications for Financial Futures." Harvard Business School Case 286-109, March 1986. (Revised July 1986.)
Best-selling and New Cases by Ben Esty
Best-Selling Cases:
1) Eaton: Portfolio Transformation & Cost of... View Details
- August 2017 (Revised September 2023)
- Case
Altoona State Investment Board & Bain Capital Fund XI
By: Josh Lerner and Ted Berk
Considers the decision faced by state pension fund manager Rod Calhoun as he decides whether to invest $200 million in Bain Capital's eleventh global buyout fund: Bain Capital Fund XI. For the fund, Bain was offering its limited partners a choice among three different... View Details
Keywords: Equity Method; Leveraged Buyout; Management Buyout; Capital; Design; Entrepreneurship; Finance; Leveraged Buyouts; Management; Private Equity; Venture Capital; Banking Industry; Massachusetts
Lerner, Josh, and Ted Berk. "Altoona State Investment Board & Bain Capital Fund XI." Harvard Business School Case 218-022, August 2017. (Revised September 2023.)
Sebastian Hillenbrand
Sebastian Hillenbrand is an Assistant Professor in the Finance Unit at Harvard Business School. He teaches the Finance I course in the MBA required curriculum.
Sebastian’s research interests are in behavioral and... View Details