Publications

29 Aug 2017
First Look

First Look at New Research and Ideas, August 29

consequences of correcting these erroneous beliefs. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=53126 Surfacing the Submerged State: Operational Transparency Increases Trust in and Engagement with Government By:... View Details

Keywords: Sean Silverthorne

16 Mar 2023
Blog Post

HySynergy and Crossbridge Energy

Energy and HySynergy are angling to play a significant role lowering emissions in a hard-to-abate sector. The management team must balance the “clean” and “dirty” sides of the business to successfully finance the energy transition. The... View Details

October 1994 (Revised November 1995)
Case

N.V. Philips Electronics - Currency Hedging Policies

By: Richard F. Meyer

Describes Philips Electronics' policies and problems relating to foreign exchange risk and hedging. Explains centralization versus decentralization of currency hedging, economic role versus transaction role, the difficulties of capturing the necessary information... View Details

Keywords: Business Divisions; Currency Exchange Rate; International Finance; Globalization; Policy; Information Management; Management; Problems and Challenges; Risk and Uncertainty

September 1992 (Revised August 2010)
Case

The Carried Interest

By: Henry B. Reiling

Makes the point that general partners and others frequently contract to receive a share of any profits that the venture they manage generates. This practice raises the question of whether the value of this contract right should be taxed when it is received or only when... View Details

Keywords: Venture Capital; Cash Flow; Profit Sharing; Taxation; Contracts; Business or Company Management; Partners and Partnerships

February 1999 (Revised October 2009)
Background Note

Debt v. Equity: Definitions and Consequences

By: Henry B. Reiling and Mark Pollard

Explores the location of the somewhat imprecise line between debt and equity. Identifies the primary business contexts that give rise to problems, the alternative tax consequences attending the debt versus equity determination, and the most prominent tests used to... View Details

Keywords: Borrowing and Debt; Equity; Interest Rates; Taxation; Business and Government Relations; Public Administration Industry

21 Sep 2015
News

Funding Progress Back Home

estimates indicate that global diaspora remittances amount to $550 billion a year. Homestrings investors choose from among funds or projects in Africa selected because they meet economic, social, and good governance objectives. Typical... View Details

1983
Book

The Effects of Banking Deregulation

By: D. B. Crane, Ralph C. Kimball and William C. Gregor

Keywords: Banks and Banking; Governing Rules, Regulations, and Reforms

March 2006 (Revised April 2015)
Case

China: To Float or Not To Float? (B)- Timeline of Changes Relevant to the Chinese Renminbi

By: Laura Alfaro and Rafael M. Di Tella

On July 21, 2005 China revalued its decade-long quasi-fixed exchange rate of approximately 8.28 yuan per U.S. dollar by 2.1% to 8.11% and, at the same time, introduced a more market-based exchange rate system. Many analysts and economists were disappointed with what... View Details

Keywords: Currency; Exchange Rate; China; Macroeconomics; Trade; Currency Exchange Rate; Governance Controls; Policy; China; United States

23 Aug 2019
Sharpening Your Skills

Has the Corporate Mission Just Been Disrupted?

as important as rewarding investors is using the power of business to build a better society. Roundtable members committed to building up local communities, investing more in employees, fostering diversity and inclusion, embracing... View Details

Keywords: by Sean Silverthorne; Green Technology

December 2004 (Revised April 2006)
Case

Nestle and Alcon--The Value of a Listing

By: Mihir A. Desai, Vincent Dessain and Anders Sjoman

In response to a perceived undervaluation by the capital markets, Nestle is considering divesting a part of its ophthalmology subsidiary, Alcon, and must decide on a listing location. In the process, students are challenged to wrestle with the valuation of a... View Details

Keywords: Business Conglomerates; International Finance; Corporate Entrepreneurship; Markets; Taxation; Business Subsidiaries; Valuation; Food and Beverage Industry; Health Industry; Europe; United States

1995
Other Unpublished Work

The Federal Budget and the States: Fiscal Year 1994

By: Dutch Leonard and Monica E. Friar

Keywords: Sovereign Finance; Budgets and Budgeting; Government and Politics; United States

2000
Other Unpublished Work

The Federal Budget and the States: Fiscal Year 1999

By: Dutch Leonard and Jay H. Walder

Keywords: Sovereign Finance; Budgets and Budgeting; Government and Politics; United States

2004
Other Unpublished Work

The Federal Budget and the States: Fiscal Year 2003

By: Dutch Leonard and Elizabeth Keating

Keywords: Sovereign Finance; Budgets and Budgeting; Government and Politics; United States

June 2020 (Revised February 2021)
Supplement

Accounting for Leases at American Airlines (B)

By: Jonas Heese, Gerardo Pérez Cavazos and Julia Kelley

This is a supplement to the “Accounting for Leases at American Airlines (A)” case. The (B) case describes American Airlines’ financial results for the first quarter of 2020, as well as the continuing effects of coronavirus on the airline industry. View Details

Keywords: Accounting; Financial Reporting; Financial Statements; Finance; Governance; Corporate Accountability; Corporate Governance; Governing Rules, Regulations, and Reforms; Governing and Advisory Boards; Leasing; Health Pandemics; Accounting Industry; Air Transportation Industry; North and Central America; United States

August 1995 (Revised September 1995)
Case

Hutton Branch Manager (C)

By: Lynn S. Paine and Jane Palley Katz

Centers on the company's plea of guilty to 2,000 counts of mail and wire fraud in response to the U.S. government's challenge to its cash management practices. Describes the Justice Department's investigations as well as the findings and recommendations of former... View Details

Keywords: Organizational Change and Adaptation; Financial Management; Governance Controls; Crime and Corruption; Governance Compliance; Law Enforcement; Financial Services Industry; United States

July 2001 (Revised March 2002)
Case

Nasdaq Stock Market, Inc., The

By: Andre F. Perold and Austin K Scee

NASDAQ's mission "to facilitate capital formation" is threatened by the emergence of Electronic Communication Networks, which are not as heavily regulated by the SEC. This case reviews the development of NASDAQ and its evolution from a loose network of broker-dealers... View Details

Keywords: Capital Markets; Stocks; Financial Markets; Governing Rules, Regulations, and Reforms; Innovation Strategy; Performance Efficiency; Perspective