Publications

November 2010 (Revised May 2012)
Case

Innovating into Active ETFs: Factor Funds Capital Management LLC

By: Kenneth A. Froot, Lauren Cohen and Scott Waggoner

Kishore Karunakaran, President and COO of FFCM, faces a variety of challenges in launching an innovative investment management business in the rapidly evolving ETF space. View Details

Keywords: Investment Management; Institutional Investments; Entrepreneurial Finance; Financial Management; Innovation Strategy; Corporate Entrepreneurship; Capital Markets; Investment Funds; Financial Strategy; Management Teams; Financial Services Industry; Boston

December 2020
Article

Monetary Policy and Global Banking

By: Falk Bräuning and Victoria Ivashina

When central banks adjust interest rates, the opportunity cost of lending in local currency changes, but—in absence of frictions—there is no spillover effect to lending in other currencies. However, when equity capital is limited, global banks must benchmark domestic... View Details

Keywords: Global Banks; Monetary Policy Transmission; Cross-border Lending; Banks and Banking; Financial Markets; Global Range

SSRN

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Career Coach

Vincent Dessain

Strategy consulting at Booz-Allen & Hamilton in New York and Paris; research; course development; recruitment and Executive Education at INSEAD and Harvard Business School; European Marketing Director at... View Details

August 2011 (Revised October 2014)
Case

High Wire Act: Credit Suisse and Contingent Capital (A)

By: Clayton S. Rose and Aldo Sesia

Late in 2010, Credit Suisse CEO Brady Dougan and his team closed in on the decision of whether or not to issue contingent capital, which Swiss regulators would require by 2019. There were a number of substantial issues facing Dougan and his team, including whether... View Details

Keywords: Financial Institutions; Capital Markets; Financial Crisis; Decision Choices and Conditions; Leadership; International Finance; Financial Liquidity; Risk and Uncertainty; Competitive Strategy; Financial Services Industry; Switzerland

01 Nov 2010
Research & Ideas

How IT Shapes Top-Down and Bottom-Up Decision Making

rise in leased lines and corporate intranets would lead to a rise in centralized decision-making at the top of the corporate ladder. Enabling Micromanagement View Details

Keywords: by Carmen Nobel

July 2010 (Revised December 2011)
Case

Controlling Hot Money

By: Robert C. Pozen

The manager of the Japan Equities Fund is faced with an increase in "hot money" moving quickly in and out of the Fund. This short-term trading is an attempt to take advantage of the difference between the closing times of the Tokyo and New York Stock Exchanges. The CFO... View Details

Keywords: Stocks; International Finance; Investment Funds; Governing Rules, Regulations, and Reforms; Market Timing; Market Transactions; Financial Services Industry; New York (city, NY)

16 Jun 2009
First Look

First Look: June 16

social categories. We discuss the ethical implications of these decision-making biases in the context of organizations. Download the paper: http://www.hbs.edu/research/pdf/06-033.pdf What Should GAAP Look... View Details

Keywords: Martha Lagace

Research Summary

Mastering Strategy Execution

By: Robert Simons

Professor Robert Simons’ research encompasses three areas of management accountability that are the foundation for successful strategy execution: organization design, performance measurement and control, and risk management. In addition, Simons is interested in the... View Details

June 2009
Supplement

F. William McNabb, Chairman, Vanguard Group, Interviewed by Professor John Quelch, April 2008

By: John A. Quelch

Professor John Quelch interviewed F. William McNabb, Chairman, Vanguard Group in April 2008 to review updates since the original case was published in 2004. View Details

Keywords: Growth and Development Strategy; Brands and Branding; Marketing Strategy; Financial Services Industry; United States

October 1995 (Revised June 1996)
Case

ABN-AMRO Holding N.V. and Smit Transformatoren N.V. (A)

By: Peter Tufano

ABN-AMRO, the largest bank in the Netherlands, must decide whether to take any action in regard to the poor performance of Smit Transformatoren, a Dutch transformer manufacturer. ABN-AMRO acted as lead underwriter for the IPO of Smit, and also released a favorable... View Details

Keywords: Initial Public Offering; Capital Markets; Investment Banking; Financial Services Industry; Financial Services Industry; Netherlands

September 2019
Article

The Dollar, Bank Leverage and Deviations from Covered Interest Parity

By: Stefan Advjiev, Wenxin Du, Catherine Koch and Hyun Song Shin

We document a triangular relationship in that a stronger dollar goes hand in hand with larger deviations from covered interest parity (CIP) and contractions of cross-border bank lending in dollars. We argue that underpinning the triangle is the role of the dollar as a... View Details

Keywords: International Finance; Currency; Financial Markets; Banks and Banking

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10 May 2020
Blog Post

Let’s Hear it For the Moms – The Incredible Balancing Act of Student Mothers

On the first day at HBS, all first-year students meet their sections – a mini 94-student family amidst the larger cohort of 938 students. To get to know one another, we were given a prompt inspired by a bet someone made with Hemingway that he could not tell an... View Details

02 Nov 2020
Blog Post

WE RISE

private-capital database PitchBook, just 12 percent of check-writing decision-makers at the largest VC firms in the United States are women. A survey by The Information, a tech-sector media outlet, found... View Details

Keywords: Other Financial Services; Other Financial Services; Other Financial Services

March 2008 (Revised May 2008)
Case

Carlyle Japan (A)

By: David B. Godes, Masako Egawa and Mayuka Yamazaki

Tamotsu Adachi, Managing Director of Carlyle Japan, wants to formulate a strategy to improve his firm's ability to source high-quality deals at competitive valuations, or prices. Buyout funds like Carlyle typically have two deal phases: sourcing and monitoring. These... View Details

Keywords: Financial Instruments; Leveraged Buyouts; Supply Chain Management; Marketing Channels; Sales; Financial Services Industry; Japan

August 2009
Article

Rewriting History

By: Alexander Ljungqvist, Christopher J. Malloy and Felicia Marston

We document widespread ex post changes to the historical contents of the I/B/E/S analyst stock recommendations database. Across a sequence of seven downloads of the entire I/B/E/S recommendations database, obtained between 2000 and 2007, we find that between 6,594... View Details

Keywords: Competency and Skills; Stocks; Profit; Market Transactions; Reputation; Financial Services Industry

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2008
Working Paper

Rewriting History

By: Alexander Ljungqvist, Christopher J. Malloy and Felicia Marston

We document widespread ex post changes to the historical contents of the I/B/E/S analyst stock recommendations database. Across a sequence of seven downloads of the entire I/B/E/S recommendations database, obtained between 2000 and 2007, we find that between 6,594... View Details

Keywords: Competency and Skills; Stocks; Profit; Market Transactions; Reputation; Financial Services Industry

23 Feb 2011
First Look

First Look: Feb. 23

unavailable at this time. Publisher's Link: http://www.informaworld.com/smpp/title~db=all~content=t927286744 Political Instability: Effects on Financial Development, Roots in the Severity of Economic... View Details

Keywords: Sean Silverthorne

February 2001 (Revised April 2001)
Case

CDC Capital Partners

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

In 2001, CDC Capital Partners is facing the greatest challenge in its 53-year history. Founded as part of the U.K. government's post-war colonial reconstruction, it had operated as a developmental finance institution, largely issuing debt to the world's poorest... View Details

Keywords: Business or Company Management; Private Equity; Emerging Markets; Cost vs Benefits; Mergers and Acquisitions; Partners and Partnerships; Financial Institutions; Financial Services Industry; United Kingdom