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Faculty & Research

billion in deposits, largely comprising the venture capital those startups had raised. On February 28, 2023, Moody’s warned SVB about a potential credit rating downgrade, reflecting concerns over "funding, liquidity, and profitability"... View Details

• 18 Jan 2012
• Research & Ideas

Beyond Heroic Entrepreneurs

In recent years, business schools and investors alike have been paying more attention to social entrepreneurs, those who create ventures with the primary goal of achieving positive social change. But most people encounter the field only... View Details

Keywords: by Carmen Nobel

• 15 Dec 2008
• Research & Ideas

The Surprisingly Successful Marriages of Multinationals and Social Brands

value. Their owners and initial investors will, just as naturally, want to find some appropriate exit point (or, at least, liquidity event). And, for a variety of reasons, being acquired (through a well-designed acquisition agreement!)... View Details

Keywords: by Sarah Jane Gilbert; Consumer Products; Food & Beverage

• Teaching Interest

Overview

Globalization and Emerging Markets (Elective Course) The world order has changed significantly in the last two decades. The influence of western-style varieties of capitalism has been challenged by new forms of capitalism that rely less on private enterprise and on the... View Details

Keywords: Globalization; Strategy; Macroeconomics; State Capitalism; Political Economy; Emerging Markets; Multinational Firms and Management; Global Strategy; Economics; Energy Industry; Retail Industry; Mining Industry; Agriculture and Agribusiness Industry; Banking Industry; China; Africa; Dubai; Pakistan; India; Brazil; Russia; Cuba; Argentina

• 28 Feb 2012
• First Look

First Look: Feb. 28

performance and the flow of sustainability related information to markets. Aviva Investors, a GBP 259 billion fund, is the investment arm of the large British insurance company, Aviva plc. Aviva Investors is... View Details

Keywords: Sean Silverthorne

• 21 Jun 2010
• Research & Ideas

Strategy and Execution for Emerging Markets

indigenous companies and investors in emerging markets worldwide. Palepu and Khanna joined forces for our Q&A. Martha Lagace: Why study emerging markets? Krishna G. Palepu: Emerging markets are the growth engine for most Western... View Details

Keywords: by Martha Lagace

• 2016
• Working Paper

Credit Migration and Covered Interest Rate Parity

By: Gordon Y Liao

I document economically large and persistent discrepancies in the pricing of credit risk between corporate bonds denominated in different currencies. The discrepancies amount to 50-100 basis points on trillions of dollars of debt notional. I relate this violation of... View Details

Keywords: Market Segmentation; Debt Issuance; Covered Interest Rate Parity; Cross-currency Basis; Credit Risk; Financial Markets; Credit

Citation

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Related

Liao, Gordon Y. "Credit Migration and Covered Interest Rate Parity." Working Paper, October 2016.

• 18 Jun 2001
• Research & Ideas

Tech Investment the Wise Way

Excerpted with permission from "The Dual Edged Role of the Business Model in Leveraging Corporate Technology Investments," in Taking Technical Risks: How Innovators, Executives, and Investors Manage High Tech Risks, article ©... View Details

Keywords: by Henry Chesbrough & Richard S. Rosenbloom

• November 2013 (Revised May 2023)
• Case

Valuing Yahoo! in 2013

By: Luis M. Viceira and Atul Khosla

In late July 2013, Danielle Engle, Managing Director of Clairemont Capital, was contemplating what to do about a large investment her fund had in the stock of Yahoo! Inc. In mid-2012, Clairemont had invested nearly $75M in Yahoo! after the tech company settled a highly... View Details

Keywords: Investment; Decision Making; Investment Activism; Business Model; Growth and Development Strategy; Valuation

Citation

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Related

Viceira, Luis M., and Atul Khosla. "Valuing Yahoo! in 2013." Harvard Business School Case 214-048, November 2013. (Revised May 2023.)

• March 2012
• Article

The Incentive Bubble

By: Mihir Desai

The past three decades have seen American capitalism quietly transformed by a single, powerful idea—that financial markets are a suitable tool for measuring performance and structuring compensation. Stock instruments for managers, high-powered incentive contracts for... View Details

Keywords: Economic Systems; Financial Markets; Executive Compensation; Motivation and Incentives; Corporate Governance; Equality and Inequality; Human Capital; United States

Citation

Read Now

Related

Desai, Mihir. "The Incentive Bubble." Harvard Business Review 90, no. 3 (March 2012).

• 22 Jan 2019
• First Look

New Research and Ideas, January 22, 2019

how separating entrepreneurs from the investor can create frictions that might inhibit the funding of good projects. It has largely abstracted away from the fact that a startup typically does not have just... View Details

Keywords: Dina Gerdeman

• 19 Sep 2011
• Research & Ideas

Doomsday Coming for Catastrophic Risk Insurers?

will choose to cover gargantuan losses "because those will wipe you out," says Froot. But that's not where they spend their money. "For medium and even smaller large losses, there's some risk sharing—maybe 30, 40, up to 60... View Details

Keywords: by Maggie Starvish; Financial Services

• 11 Jan 2011
• Working Paper Summaries

Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge

Keywords: by Bo Becker, Daniel B. Bergstresser & Guhan Subramanian; Financial Services

• 25 Oct 2016
• First Look

October 25, 2016

factor of about 2 to 1. Even after adjusting for differences in internal labor cost rates, the hospital at the 90th percentile of cost spent about twice as much as the one at the 10th percentile of cost. The large variation in costs among... View Details

Keywords: Sean Silverthorne