Publications

2009
Working Paper

Systemic Risk and the Refinancing Ratchet Effect

By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton

The confluence of three trends in the U.S. residential housing market—rising home prices, declining interest rates, and near-frictionless refinancing opportunities—led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details

Keywords: Housing; Mortgages; Risk and Uncertainty; Value; Mathematical Methods; Real Estate Industry; United States

2009
Working Paper

Systemic Risk and the Refinancing Ratchet Effect

By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton

The confluence of three trends in the U.S. residential housing market-rising home prices, declining interest rates, and near-frictionless refinancing opportunities-led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details

Keywords: Equity; Mortgages; Interest Rates; Price; Housing; Risk and Uncertainty; United States

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27 Feb 2024
Cold Call Podcast

How Could Harvard Decarbonize Its Supply Chain?

Keywords: Re: Robert S. Kaplan & Shirley Lu; Green Technology

Michael T. Moynihan

Michael Moynihan is a Lecturer of Business Administration in the Marketing Unit at Harvard Business School. Mike is currently teaching Creating Brand Value, an MBA elective course on brand strategy. He has also served as an Executive Fellow at Harvard Business... View Details

01 Mar 2021
News

HBS Announces Spring 2021 Cohort of Executive Fellows

19 Feb 2019
News

This Company Is Japan’s Top Contender for Global Internet Domination

Thomas R. Eisenmann

Thomas R. Eisenmann is the Howard H. Stevenson Professor of Business Administration at the Harvard Business School; Peter O. Crisp Faculty Chair, Harvard Innovation Labs; and Unit Head of the HBS Entrepreneurial... View Details

06 Apr 2016
News

Innovation Leaders Create Long-Term Value

October 2007 (Revised January 2009)
Case

The Hertz Corporation (A)

By: Timothy A. Luehrman and Douglas Scott

Examines the leveraged buyout of Hertz in 2005, a complex, high-profile deal and a good example of cutting-edge practice in private equity. The first of a two-part series on the Hertz LBO, adopts the perspective of Clayton, Dubilier & Rice, the leader of a private... View Details

Keywords: Leveraged Buyouts; Private Equity; Bids and Bidding; Negotiation Deal; Valuation; Value Creation; Financial Services Industry; United States

August 2013
Background Note

A Simple Free Cash Flow Valuation Model

By: William A. Sahlman

Explores some of the issues involved in valuing cash flow streams. A simple model is presented that reveals the effect on value of changing assumptions about the appropriate discount rate, the level of profitability, the growth rate of sales, the asset intensity ratio,... View Details

Keywords: Cash Flow; Valuation

24 Jul 2014
Blog Post

Create a Content Marketing Strategy for your Talent Acquisitions Team

As a talent acquisitions manager or a marketing manager within a human resources team, you’ve probably asked yourself how to reach large quantities of high quality candidates in a thoughtful and meaningful way. You’ve leveraged various... View Details

November 2020 (Revised January 2021)
Supplement

Bridge International Academies in 2020: Battling Headwinds to Solve Africa's Education Problems

By: Caroline M. Elkins, Tarun Khanna and Joyce J. Kim

By 2020, Bridge International Academies and its "school in a box" model had achieved great scale. By leveraging digital technology and public-private partnerships, they had reached one million children across Africa and India through hundreds of schools. However, the... View Details

Keywords: Entrepreneurship In Africa; Entrepreneurship In Emerging Markets; Bottom Of The Pyramid; Education In Africa; Scale; Partnerships; Education; Entrepreneurship; Emerging Markets; Health Pandemics; Problems and Challenges; Education Industry; Africa

Teaching Interest

Changing the Game: Negotiation and Competitive Decision Making

By: Guhan Subramanian

High-stakes business negotiations challenge your wits, your confidence, and your capacity for clear reasoning under intense pressure. Changing the Game leverages the latest research to your advantage, helping you prepare for complex... View Details

August 2017
Case

RoboTech: Storming into the U.S. Market

By: Christopher A. Bartlett, Rachel Gordon and John J. Lafkas

This case describes the challenges facing the CEO of a small, Singapore-based industrial robotics company that decides to diversify away from its core industrial robot business by leveraging its expertise into the medical-devices industry. It launches an innovative... View Details

Keywords: Market Entry and Exit; Diversification; Product Launch; Competitive Strategy; Globalized Firms and Management; Medical Devices and Supplies Industry; Technology Industry; Singapore; United States

Ayelet Israeli is the Marvin Bower Associate Professor of Business Administration at the Harvard Business School Marketing Unit. She is the co-founder of the Customer Intelligence Lab at the Digital Data Design (D^3) Institute at Harvard Business School. She teaches... View Details

Keywords: retailing; e-commerce industry; internet; automotive

January–February 2019
Article

Why Some Platforms Thrive and Others Don't

By: Feng Zhu and Marco Iansiti

In the digital economy, scale is no guarantee of continued success. After all, the same factors that help an online platform expand quickly—such as the low cost of adding new customers—work for challengers too. What, then, allows platforms to fight off rivals and grow... View Details

Keywords: Digital Platforms; Competition; Network Effects; Competitive Strategy

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Register to Read

Leverage AI to be a 10x Founder

Today’s most successful founders know that the startups that learn the fastest will win. In The Experimentation Machine, HBS professor, entrepreneur, and venture capitalist Jeffrey J. Bussgang reveals... View Details

November 1989 (Revised March 1995)
Case

Goodyear Tire & Rubber Co.--1988

By: Timothy A. Luehrman

Set two years after a takeover attempt forced the company to restructure by leveraging up, selling assets, and repurchasing stock. The case affords an opportunity to analyze what effect the restructuring had on: 1) the cost of capital, 2) investment decisions, and 3)... View Details

Keywords: Acquisition; Restructuring; Assets; Cost of Capital; Investment; Competition; Rubber Industry