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2011
Article

'Deprival Value' vs. 'Fair Value' Measurement for Contract Liabilities: How to Resolve the 'Revenue Recognition' Conundrum

By: Joanne Horton, Richard H. Macve and George Serafeim

Revenue recognition and measurement principles can conflict with liability recognition and measurement principles. We explore here under different market conditions when the two measurement approaches coincide and when they conflict. We show that where entities expect... View Details

Keywords: Fair Value; Deprival Value; Contract Liabilities; Fair Value Accounting; Measurement and Metrics; Profit; Revenue Recognition; Assets; Performance Evaluation; Contracts

SSRN

August 2009
Case

Nomura's Global Growth: Picking Up Pieces of Lehman

By: C. Fritz Foley and Linnea Meyer

What issues commonly arise in international financial management? Kenichi Watanabe and Takumi Shibata, CEO and COO of Nomura Holdings Inc., one of the leading investment banks in Asia, have the opportunity to expand their firm internationally through the acquisition of... View Details

Keywords: Mergers and Acquisitions; Insolvency and Bankruptcy; Investment Banking; International Finance; Cross-Cultural and Cross-Border Issues; Expansion; Financial Services Industry; Japan

May 2010
Case

Alpen Bank: Launching the Credit Card in Romania

By: V. Kasturi Rangan and Sunru Yong

In 2006, the country manager for Alpen Bank in Romania, Gregory Carle, considers whether to recommend the launch of a credit card business. The firm rejected the idea several years earlier because of poor economic conditions in Romania. However, Romania is experiencing... View Details

Keywords: Consumer Credit; International Business; International Marketing; Product Introduction; Service Management; Credit Cards; Globalized Firms and Management; Product Positioning; Marketing Strategy; Service Delivery; Personal Finance; Product Launch; Banking Industry; European Union; Romania

February 2003 (Revised May 2008)
Case

AFP Provida

By: Michael E. Porter, Arturo L. Condo and Andrea Prado

Describes the evolution of AFP Provida, one of the early entrants into the Chilean pension fund system established in 1981. By 1999, AFP Provida was not only the largest pension fund administrator in Chile, but also the largest in Latin America in terms of number of... View Details

Keywords: Developing Countries and Economies; Globalized Firms and Management; Industry Clusters; Competitive Advantage; Expansion; Financial Services Industry; Chile

03 Feb 2009
First Look

First Look: February 3, 2009

Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed—and What to Do About It Author: Josh Lerner Publication: Princeton University Press, forthcoming Abstract In response to the financial crisis, governments are... View Details

Keywords: Martha Lagace

December 2009 (Revised April 2022)
Case

Lyondell Chemical Company

By: Stuart C. Gilson and Sarah Abbott

Hit with an industry recession and the global financial crisis of 2008, in January 2009 LyondellBasell Industries AF S.C.A., one of the world's largest internationally diversified chemical companies headquartered in The Netherlands, placed its U.S. operations and a... View Details

Keywords: Restructuring; Financial Crisis; Borrowing and Debt; Capital Structure; Insolvency and Bankruptcy; Financing and Loans; International Finance; Crisis Management; Chemical Industry; Netherlands; United States

2023
Working Paper

Saving and Consumption Responses to Student Loan Forbearance

By: Justin Katz

How do households adjust savings and consumption in response to liquidity from debt relief? I study this question using policy variation induced by federal student loan forbearance in the 2020 CARES Act and an individual-level panel of daily financial transactions for... View Details

Keywords: Saving; Consumer Behavior; Borrowing and Debt; Interest Rates; Financial Liquidity; Personal Finance; Government Legislation

SSRN

August 2014 (Revised March 2016)
Case

Thomas Cook Group on the Brink (A)

By: Benjamin C. Esty, Stuart C. Gilson and Aldo Sesia

Harriett Green, the newly appointed CEO of Thomas Cook Group, faces a daunting set of business and financial challenges at the 171-year old UK travel services company. The company has lost almost £600 million in the last three quarters; has seen its stock price fall... View Details

Keywords: Turnaround; Corporate Restructuring; Change Leadership; Female Ceo; Change Management; Communication Strategy; Borrowing and Debt; Cash Flow; Cost Management; Financial Liquidity; Financial Management; Executive Compensation; Leading Change; Crisis Management; Value Creation; Travel Industry; United Kingdom

August 1988 (Revised February 1992)
Case

Norton Group PLC: To Be or Not to Be in the Motorcycle Business (A)

By: V. Kasturi Rangan and Jon Skofic

Norton, a once famous motorcycle manufacturer, soundly beaten by Japanese competition, turns its attention to developing rotary engines. The company is acquired by Norton Group PLC, which is headed by a dashing entrepreneur. The new management must decide what... View Details

Keywords: Acquisition; Decision Choices and Conditions; Corporate Entrepreneurship; Human Resources; Crisis Management; Resource Allocation; Production; Competition; Auto Industry; Motorcycle Industry; Japan; United Kingdom

07 Jul 2010
First Look

First Look: July 7

This note briefly reviews the financial crisis in central Europe in late 2008 and summarizes how four central European countries—Poland, the Czech Republic, Hungary, and Slovakia—have coped with the economic downturn. Purchase this... View Details

Keywords: Martha Lagace

April 4, 2009
Article

The Return of State-Owned Enterprises: Should We Be Afraid?

By: Aldo Musacchio and Francisco Flores-Macias

The global financial crisis of 2008-2009 has prompted many industrialized states worldwide to increase their stakes in private corporations. This wave of partial nationalizations has come amidst full-scale expropriations in developing countries such as Venezuela,... View Details

Keywords: History; Private Ownership; State Ownership; Financial Crisis; Business and Government Relations

March 2012
Article

Macroeconomic Policy and U.S. Competitiveness

By: Richard H.K. Vietor and Matthew Weinzierl

The United States is on a glide path to fiscal disaster, with experts projecting that the federal government will take in far less money than it spends-indefinitely. Our current fiscal policy is eroding competitiveness in several ways, and business conditions in the... View Details

Keywords: Macroeconomics; Government and Politics; Financial Crisis; Policy; Competition; Public Administration Industry; United States

January 2009
Supplement

The Tip of the Iceberg: JP Morgan Chase and Bear Stearns (B1)

By: Clayton S. Rose, Daniel Baird Bergstresser and David Lane

Bear Stearns & Co burned through nearly all of its $18 billion in cash reserves during the week of March 10, 2008, and an unprecedented provision of liquidity support from the Federal Reserve on Friday March 13 was insufficient to reverse the decline in Bear's... View Details

Keywords: Economic Slowdown and Stagnation; Capital; Financial Liquidity; Banks and Banking; Governance; Crisis Management; Failure; Business and Stakeholder Relations; Balance and Stability; Valuation; New York (state, US)

04 Oct 2019
Blog Post

Finding My Passion in the Startup Space

This post was originally published on the Alumni Careers Blog. When I was 17, I moved to the US to study. Back home in Greece, the country was succumbing to a financial crisis. I questioned whether I would ever be able to move back to my... View Details

November 2011
Article

How Great Companies Think Differently

By: Rosabeth Moss Kanter

Corporate leaders have long subscribed to the belief that the sole purpose of business is to make money. That narrow view, deeply embedded in the American capitalist system, molds the actions of most corporations, constraining them to focus on maximizing short-term... View Details

Keywords: Decision Choices and Conditions; Profit; Leadership; Corporate Social Responsibility and Impact; Business and Shareholder Relations; Behavior; Social Issues; Competitive Advantage

Find at Harvard

January 2003 (Revised October 2012)
Case

Newport Creamery (A)

By: Paul Marshall and Todd Thedinga

Describes the operating challenges of Newport Creamery, a Rhode Island-based chain of ice cream restaurants. Profiles the company's transition from longtime family ownership to a real estate developer, the developer's expansion strategy, and the company's subsequent... View Details

Keywords: Family Business; Crisis Management; Insolvency and Bankruptcy; Food and Beverage Industry; Rhode Island

September 2001 (Revised July 2009)
Case

Buenos Aires Embotelladora S.A. (BAESA): A South American Restructuring

By: Stuart C. Gilson and Gustavo A. Herrero

In 1998, BAESA, PepsiCo's largest bottler and distributor outside North America, experienced severe financial difficulty and had to restructure its debt and business operations to avoid bankruptcy or liquidation. Based in Argentina, with operations throughout South... View Details

Keywords: Restructuring; Borrowing and Debt; Insolvency and Bankruptcy; Bonds; Stocks; Multinational Firms and Management; Laws and Statutes; United States; Argentina; Brazil