Publications

2007
Chapter

Microfinance: Business, Profitability, and the Creation of Social Value

By: Michael Chu

The chapter examines the development of microfinance from its NGO origins to the present stage in which it is characterized by regulated commercial institutions capable of superior financial returns. It then looks at the creation of social value under these... View Details

Keywords: Microfinance; Investment Return; Profit; Governing Rules, Regulations, and Reforms; Social Enterprise; Non-Governmental Organizations; Perspective; Value Creation

August 2024
Case

Circle: Reinventing the Future of Money

By: Shikhar Ghosh and Shweta Bagai

In early 2024, Circle Internet Financial's leadership team gathered to discuss the company's strategic path as it prepared for an IPO. Founded in 2013 by Jeremy Allaire, Circle had emerged as a pioneer in digital finance through its USD Coin (USDC), a regulated... View Details

Keywords: Currency; Governance Compliance; Initial Public Offering; Competition; Financial Services Industry

23 Apr 2014
HBS Case

Are Electronic Cigarettes a Public Good or Health Hazard?

intersections of business and health. "One of the themes in the course is the tension that exists, quite understandably, between regulators and commercial interests," says Quelch. "Most people are used to hearing about that... View Details

Keywords: by Michael Blanding; Food & Beverage; Advertising

April 2020 (Revised April 2023)
Case

TransDigm in 2017: The Beginning of the End or the End of the Beginning?

By: Benjamin C. Esty and Daniel Fisher

TransDigm was a highly acquisitive company that manufactured a wide range of highly engineered aerospace parts for both military and commercial customers. Over the ten years ending in 2016, its stock price had increased ten times, and both EBITDA and revenues had grown... View Details

April 2012 (Revised June 2014)
Case

Capitalizing for the Future: HSBC in 2010

By: Anette Mikes and Dominique Hamel

Following the financial crisis of 2007/2008, HSBC CEO Michael Geoghegan saw a fundamental change in global opportunities and risks. With increasing regulation and fierce competition between banks, the Western hemisphere was going to be a tougher place to do business.... View Details

Keywords: Accounting; Competitive Strategy; Control Systems; Finance; Financial Crisis; Banks and Banking; Emerging Markets; Risk Management; Business Strategy; Banking Industry

21 Feb 2008
Working Paper Summaries

Do Legal Origins Have Persistent Effects Over Time? A Look at Law and Finance around the World c. 1900

Keywords: by Aldo Musacchio; Legal Services

2015
Chapter

Corporate and Integrated Reporting: A Functional Perspective

By: Robert G. Eccles and George Serafeim

In this chapter, we present the two primary functions of corporate reporting (information and transformation) and why currently isolated financial and sustainability reporting are not likely to effectively perform these functions. We describe the concept of integrated... View Details

Keywords: Information; Integrated Corporate Reporting; Transformation

SSRN

15 Dec 2016
News

Trump must see that small business is the engine of America

August 2017 (Revised November 2017)
Case

Accounting for Political Risk at AES

By: Gerardo Pérez Cavazos and Suraj Srinivasan

As a global energy generating company, AES frequently faces challenges from political changes and instability. This is exacerbated by the fact that in many instances AES' primary customer is the government, which is also in charge of law-making. For example, AES'... View Details

Keywords: Political Risk; Asset Impairment; Risk Factors; Fair Value; Fair Value Accounting; Financial Reporting; Financial Statements; Energy Industry; Bulgaria; Dominican Republic; United States; Venezuela

13 Jan 2010
Working Paper Summaries

Private Equity and Industry Performance

Keywords: by Shai Bernstein, Josh Lerner, Morten Sørensen & Per Strömberg

David A. Moss

David Moss is the Paul Whiton Cherington Professor at Harvard Business School, where he teaches in the Business, Government, and the International Economy (BGIE) unit. He earned his B.A. from Cornell University and his Ph.D. from Yale. In 1992-1993, he served as a... View Details

Keywords: financial services; financial services; financial services; financial services; financial services; financial services; financial services

2018
Working Paper

The Impact of Pensions and Insurance on Global Yield Curves

By: Robin Greenwood and Annette Vissing-Jorgensen

We document a strong effect of pension and insurance company (P&I) assets on the long end of the yield curve. Using data from 26 countries, the yield spread between 30-year and 10-year government bond yields is negatively related to the ratio of pension assets (in... View Details

Keywords: Pension Funds; Investment Funds; Insurance; Assets; Interest Rates; Bonds

SSRN

Read Now

15 Jun 2012
Working Paper Summaries

Reaching for Yield in the Bond Market

Keywords: by Bo Becker & Victoria Ivashina

16 Mar 2009
Research & Ideas

When the Internet Runs Out of IP Addresses

quality. That's why it's so important to make the transition smooth—to provide financial incentives to move to IPv6, and to provide a framework to let ISPs enter and expand even their IPv4 operations at reasonable cost and with... View Details

Keywords: by Sean Silverthorne; Telecommunications

February 2022 (Revised November 2022)
Case

Fondeadora

By: Álvaro Rodríguez Arregui and Mitchell Weiss

Norman Müller and René Serrano, cofounders of Fondeadora, a Mexican “neobank,” had lined up a $12.5 million in Series A funding round in 2020 only to run into a major obstacle: The lead investor was Gradient Ventures, a venture firm launched by Alphabet, Inc., and... View Details

Keywords: Fundraising; Entrepreneurship; Venture Capital; Financial Institutions; Business Startups; Government Legislation; Governing Rules, Regulations, and Reforms; Financial Strategy; Financial Services Industry; Mexico City; Latin America

Aliya Korganbekova is an assistant professor in the Accounting and Management Unit. She teaches the Financial Reporting and Control course in the MBA required curriculum.

Professor Korganbekova's research focuses on... View Details

2022
Article

Regulatory Treatment of Changes in Fair Value and the Composition of Banks' Investment Portfolios

By: Michael Iselin, Jung Koo Kang and Joshua Madsen

In their implementation of Basel III, U.S. bank regulators are again including changes in the fair value of available-for-sale (AFS) debt securities in Tier 1 capital, but only for the largest U.S. banks. This paper investigates a potential impact of expanding this... View Details

Keywords: Fair Value Accounting; SFAS 115; Basel III; Governing Rules, Regulations, and Reforms; Banks and Banking; Debt Securities; Credit; Risk and Uncertainty; Investment Portfolio; Decision Making; Banking Industry; United States