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  • 2015
  • Working Paper

Banks' Risk Exposures

By: Juliane Begenau, Monika Piazzesi and Martin Schneider
This paper studies U.S. banks' exposure to interest rate and credit risk. We exploit the factor structure in interest rates to represent many bank positions in terms of simple factor portfolios. This approach delivers time varying measures of exposure that are... View Details
Keywords: Risk and Uncertainty; Interest Rates; Credit; Banks and Banking; United States
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  • Article

Savings in Transnational Households: A Field Experiment Among Migrants from El Salvador

By: Nava Ashraf, Diego Aycinena, Claudia Martinez A. and Dean Yang
While remittance flows to developing countries are very large, it is unknown whether migrants desire more control over how remittances are used. This research uses a randomized field experiment to investigate the importance of migrant control over the use of... View Details
Keywords: Migration; Remittances; Intrahousehold Allocation; Savings; Saving; Residency; Banks and Banking; Banking Industry; El Salvador; United States
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  • July 2007
  • Article

Geographical Segmentation of U.S. Capital Markets

Demographic variation in savings behavior can be exploited to provide evidence on segmentation in US bank loan markets. Cities with a large fraction of seniors have higher volumes of bank deposits. Since many banks rely heavily on deposit financing, this affects local... View Details
Keywords: Age; Economy; Capital Markets; Banks and Banking; Financing and Loans; Local Range; United States
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  • March 2021 (Revised October 2021)
  • Case

Aligning Mission and Margin at Southern Bancorp

By: Rebecca M. Henderson, Brian Trelstad and Eren Kuzucu
In October 2020, after spending almost a decade to turnaround Southern Bancorp, an Arkansan bank founded with the mission to provide financial services to rural, underserved communities, CEO Darrin Williams is wondering how Southern Bancorp should continue to grow.... View Details
Keywords: Racial Wealth Gap; Banks and Banking; Growth and Development; Corporate Social Responsibility and Impact; Mission and Purpose; Going Public; Investment Return; Social Issues; Wealth and Poverty; Banking Industry; Banking Industry; United States; Arkansas
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    Ricardo Salinas Pliego

    Keywords: Diversified
    • August 2020 (Revised November 2022)
    • Case

    George Soros: The Stateless Statesman

    By: Geoffrey Jones and Wendy Ying
    This case traces the business career and philanthropic activities of George Soros. The Hungarian-born Soros made a fortune as a hedge fund investor after establishing Quantum Fund on the tax haven island of Curaçao in the Netherlands Antilles in 1973 where he was... View Details
    Keywords: Hedge Fund; Philanthropy; Populism; Finance; Philanthropy and Charitable Giving; Political Elections; Personal Development and Career; Leadership Style; Financial Services Industry; Europe; Hungary; United Kingdom; North and Central America; United States
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    • March 2002 (Revised May 2007)
    • Case

    Customer Profitability and Customer Relationship Management at RBC Financial Group (Abridged)

    By: V.G. Narayanan and Lisa Brem
    The Royal Bank of Canada uses customer relationship management and customer profitability tools to gain a competitive advantage in Canada's increasingly crowded financial services market. The case presents two pricing and customer management issues: one from the point... View Details
    Keywords: Customers; Customer Relationship Management; Price; Perspective; Marketing; Competitive Advantage; Banking Industry; Banking Industry; Canada
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    • 2023
    • Working Paper

    When Should Public Programs Be Privately Administered? Theory and Evidence from the Paycheck Protection Program

    By: Alexander Bartik, Zoë B. Cullen, Edward L. Glaeser, Michael Luca, Christopher Stanton and Adi Sunderam
    What happens when public resources are allocated by private companies whose objectives may be imperfectly aligned with policy goals? We study this question in the context of the Paycheck Protection Program (PPP), which relied on private banks to disburse aid to small... View Details
    Keywords: Paycheck Protection Program; Targeting; Impact; Entrepreneurship; Health Pandemics; Small Business; Financing and Loans; Outcome or Result; United States
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    • January 1997 (Revised March 1997)
    • Case

    Crisis at the Federal Reserve: Arthur Burns and the Stagflation of 1973-75

    By: David A. Moss and Wyatt C. Wells
    Briefly examines the history of the Federal Reserve System up through 1970 and then delves into how the central bank, under the leadership of Arthur F. Burns, responded to the "stagflation" of the early 1970s. It culminates with the Federal Reserve's response to the... View Details
    Keywords: Central Banking; Inflation and Deflation; Government Administration; Financial Crisis; United States
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      Robert C. Merton

      Robert C. Merton is the School of Management Distinguished Professor of Finance at the MIT Sloan School of Management.

      Merton is University Professor Emeritus at Harvard University and was the George Fisher Baker Professor of... View Details

      Keywords: banking; banking; banking; banking; banking; banking

        National Customer Orientation: An Empirical Test across 112 Countries

        Customer orientation is a central tenet of marketing. However, less is known about how customer orientation varies across countries and time.  Mintz, Currim, and Deshpandé (Eur. J. Mark., 56: 1014–1041, 2022) propose a country-level construct, national customer... View Details
        • August 2021
        • Supplement

        Aligning Mission and Margin at Southern Bancorp

        By: Brian Trelstad
        Video Supplement for HBS Case No. 321-099. In October 2020, after spending almost a decade to turnaround Southern Bancorp, an Arkansan bank founded with the mission to provide financial services to rural, underserved communities, CEO Darrin Williams is wondering how... View Details
        Keywords: Racial Wealth Gap; Banks and Banking; Growth and Development; Corporate Social Responsibility and Impact; Mission and Purpose; Going Public; Investment Return; Social Issues; Wealth and Poverty; Banking Industry; Banking Industry; United States; Arkansas
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        • November 2019
        • Case

        Floating the Exchange Rate: In Pursuit of the Chinese Dream

        By: Laura Alfaro and Sarah Jeong
        In the decades following 2005, China faced significant financial challenges. Inflation spiraled upwards and China’s economy stagnated in the wake of the Global Financial Crisis. The country’s leaders took an interventionist approach to weather the storm, controlling... View Details
        Keywords: Exchange Rate; Inflation; Debt; Currency Exchange Rate; Inflation and Deflation; Borrowing and Debt; China
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        • September 2010 (Revised November 2010)
        • Case

        J.P. Morgan Private Bank: Risk Management during the Financial Crisis 2008-2009

        By: Anette Mikes, Clayton S. Rose and Aldo Sesia
        Mary Erdoes, the CEO of JP Morgan's asset management business, and three colleagues provide insights into risk management issues faced by the firm's private bank during the financial crisis in 2008–2009. The case provides perspective on the philosophy with which they... View Details
        Keywords: Judgments; Financial Crisis; Globalized Firms and Management; Management Analysis, Tools, and Techniques; Risk Management; Mathematical Methods; Banking Industry; United States
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        • 21 Jul 2014
        • Research & Ideas

        Is a Gap in Small-Business Credit Holding Back the American Economy?

        (Editor's note: This first in a series of articles based on a Harvard Business School working paper by Karen Mills that analyzes the current state of availability of bank capital for small business.) Small businesses are core to America's... View Details
        Keywords: by Karen Mills; Manufacturing
        • 02 Apr 2013
        • Working Paper Summaries

        Monitoring and the Portability of Soft Information

        Keywords: by Dennis Campbell & Maria Loumioti; Banking
        • 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
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        • January 2011 (Revised April 2012)
        • Case

        BBVA Compass: Marketing Resource Allocation

        By: Sunil Gupta and Joseph Davies-Gavin
        BBVA Compass, the 15th largest commercial bank in the U.S., is a part of the BBVA Group of Spain, the second largest bank in Spain with $755 billion in assets. In December 2010, Frank Sottosanti, Chief Marketing Officer of BBVA Compass, was reviewing the marketing... View Details
        Keywords: Advertising; Resource Allocation; Marketing Channels; Marketing Strategy; Performance Evaluation; Banking Industry; United States
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        • January 2014 (Revised February 2014)
        • Case

        Japan: Betting on Inflation?

        By: Julio J. Rotemberg
        The case focuses on the challenges still confronting Prime Minister Shinzo Abe at the end of 2013, a year after he has been in office. It also gives an overview of Japan's earlier economic performance, focusing primarily on the period after it suffered a stock market... View Details
        Keywords: Quantitative Easing; Debt Sustainability; International Relations; Borrowing and Debt
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        • March–April 2015
        • Article

        The Almighty Ruble

        By: Debora L. Spar
        At 1 AM Moscow time on December 16, Russia's central bank announced a massive hike in the country's interest rate, from 10.5% to 17%. It's not clear how Russian leader Vladimir Putin and his colleagues could realistically have expected to achieve anything by hiking the... View Details
        Keywords: Monetary Policy; Economy; Policy; Currency; Interest Rates; Sovereign Finance; Russia
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