Publications

February 2018 (Revised June 2019)
Case

Jaguar Capital S.A.S., Take the Money and Run?

By: Nori Gerardo Lietz and Sayiddah Fatima McCree

In January 2014, Tomas Uribe and Rodrigo Sanchez-Rios of Jaguar Capital S.A.S. (Jaguar or Jaguar Capital), were considering an offer from White Stone, the world’s largest private equity real estate investor. Jaguar Capital needed capital to fund its investment thesis,... View Details

Keywords: Real Estate; Investing; Private Equity Financing; Deal Structuring; Emerging Market; Emerging Economies; Emerging Market Finance; International Entrepreneurship; Finance; Entrepreneurship; Agreements and Arrangements; Emerging Markets; Real Estate Industry; Retail Industry; Financial Services Industry; Colombia; Latin America; United States

1999
Book

The Financing of Catastrophe Risk

By: Kenneth A. Froot

Keywords: Catastrophe Risk; Corporate Finance; Banking And Insurance; Hedging; Banking; Decision Choice And Uncertainty; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Cost of Capital; Asset Pricing; Insurance Industry

Find at Harvard

2014
Working Paper

Financing Risk and Innovation

By: Ramana Nanda and Matthew Rhodes-Kropf

We provide a model of investment into new ventures that demonstrates why some places, times, and industries should be associated with a greater degree of experimentation by investors. Investors respond to financing risk―a forecast of limited future funding―by modifying... View Details

Keywords: Business Startups; Venture Capital; Financial Markets; Financing and Loans; Investment; Price Bubble; Innovation and Invention; Technological Innovation; Risk and Uncertainty

November 2015
Technical Note

Field 2: Some Tips on Navigating Common Pitfalls when Working in Emerging Markets

By: Dina D. Pomeranz, Samik Adhikari and Juan Ignacio Elorrieta

Keywords: Emerging Markets

9 AM – 9 AM EST, 07 Nov 2018

HBX Leading with Finance

Gain a deep understanding of the principles of finance a toolkit for making smart financial decisions and the confidence to communicate those decisions to key stakeholders. Program Dates: November 7, 2018 - December 19, 2018 View Details

10 Apr 2023
Blog Post

Creating Emerging Markets Sustainability Series - Innovations to Address the Global Water Crisis

Creating Emerging Markets Sustainability Series – Innovations to Address the Global Water Crisis Cover image features Rosario Bazán (left) and Anil Jain (right). Between March 22 – 24th, world and business... View Details

14 May 2024
Blog Post

Creating Emerging Markets Sustainability Series - How to Build a Culture of Intrapreneurship

Creating Emerging Markets Sustainability Series – How to Build a Culture of Intrapreneurship Today, the concept of “sustainable innovation” seems commonplace and is generally accepted as a viable path... View Details

Web

Driving Impact in Emerging Markets with HBS Alum Nneka Chime (MBA 2015) - Recruiting

Insights & Advice 22 Mar 2024 Driving Impact in Emerging Markets with HBS Alum Nneka Chime (MBA 2015) Becca Carnahan Author HBS Team tag Alumni Student & Alumni Stories Nneka Chime’s (MBA 2015) career path... View Details

October 2024
Case

Estímulo: Blended Finance in Brazil

By: Vikram S. Gandhi, James Barnett, Maxim Pike Harrell and Marina Osborn

In December 2022, Estímulo—a Brazilian impact investment fund supporting small businesses—found itself at a crossroads. The fund was established in 2020 to provide emergency relief through accessible credit and financial education. When low default rates from borrowers... View Details

Keywords: Credit; Financial Management; Financing and Loans; Investment; Social Enterprise; Business Model; Financial Services Industry; Brazil; South America; Latin America

May 2018 (Revised July 2018)
Case

EY China (A): Strengthening Presence in a Critical Market

By: Ashish Nanda, Das Narayandas and Lisa Rohrer

Soon after being named regional managing partner for Ernst & Young (EY) China in September 2009, Albert Ng reflects on the enormity of challenges facing EY China. Despite EY Global's commitment to the China practice, EY China’s growth agenda has been reversed, post... View Details

Keywords: Professional Services; International Management; Big Four; Strategy And Execution; Emerging Market; Strategy; Leadership; Global Range; Growth and Development Strategy; Emerging Markets; Accounting Industry; China

Teaching Interest

Finance II (MBA Required Curriculum)

By: Benjamin C. Esty

This course builds on the foundation developed in Finance I, focusing on three sets of managerial decisions:

How to evaluate complex investments.
How to set and execute financial policies within a firm.
How to integrate... View Details

Keywords: Finance

2018
Working Paper

Opportunistic Returns and Dynamic Pricing: Empirical Evidence from Online Retailing in Emerging Markets

By: Chaithanya Bandi, Antonio Moreno, Donald Ngwe and Zhiji Xu

We investigate how dynamic pricing can lead to more product returns in the online retail industry. Using detailed sales data of more than two million transactions from the Indian online retail market, where price promotions are very common, we document two types of... View Details

Keywords: Cash On Delivery; Dynamic Pricing; Online Retail; Payment Methods; Strategic Customer Behavior; Opportunistic Returns; Price; Policy; Consumer Behavior; Emerging Markets; Retail Industry

SSRN

October 2023
Article

Stock Market Stimulus

By: Robin Greenwood, Toomas Laarits and Jeffrey Wurgler

We study the stock market effects of the arrival of the three rounds of “stimulus checks” to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of... View Details

Keywords: Stock Market; COVID-19 Pandemic; Fiscal Stimulus; Stimulus Payments; Impact; Stocks; System Shocks; Price; Spending; United States; Hong Kong

March 2021
Case

Litigation Finance 2.0: LexShares

By: Lauren Cohen, Spencer C. N. Hagist and Yago Zavalia Gahan

Litigation finance—also referred to as third party litigation funding—was in its relative infancy as an asset class when Jay Greenberg and Max Volsky made a platform-play in the space. Seven years later, the market was far from "mainstream," but nonetheless had grown... View Details

Keywords: Finance; Entrepreneurship; Growth and Development Strategy; United States

Web

The Business History of India & South Asia - Creating Emerging Markets

1990s. The conference highlighted new sources available for research, especially digital resources. At the core of the event was Harvard Business School’s Creating Emerging Markets project, which has... View Details

12 Jun 2023
Blog Post

Creating Emerging Markets Sustainability Series - Leapfrogging Traditional Agricultural Development in Africa

Creating Emerging Markets Sustainability Series – Leapfrogging Traditional Agricultural Development in Africa Cover image features Mostafa Terrab. By 2050, the world’s population is expected to reach 9.7... View Details

14 Dec 2022
Blog Post

Creating Emerging Markets Sustainability Series - Reducing Plastic Pollution on a Global Scale

Creating Emerging Markets Sustainability Series – Reducing Plastic Pollution on a Global Scale Cover image features Anand Burman (left) and María Emilia Correa (right). A recent article in the Boston Globe... View Details

2022
Working Paper

Stock Market Stimulus

By: Robin Greenwood, Toomas Laarits and Jeffrey Wurgler

We study the stock market effects of the arrival of the three rounds of “stimulus checks” to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of... View Details

Keywords: Stock Market; COVID-19 Pandemic; Fiscal Stimulus; Stimulus Payments; Impact; Stocks; System Shocks; Price; Spending; United States; Hong Kong; China

Article

What is the Equity Size of Companies Receiving Private Equity in Latin America?: Evidence from Twenty-five Countries from 2002 to 2008

By: Roberto Charvel

This article reviews the equity size or value of the firms attracting private equity investments in Latin America over time. The information is on post money valuations. View Details

Keywords: Alternative Assets; Entrepreneurial Finance; Emerging Market; Venture Capital; Private Equity; Latin America