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Show Results For
- All HBS Web
(6,008)
- People (11)
- News (905)
- Research (4,150)
- Events (26)
- Multimedia (55)
- Faculty Publications (2,856)
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- fall 1999
- Article
The Evolving Market for Catastrophe Event Risk
By: K. A. Froot
Keywords: Catastrophe Risk; Corporate Finance; Cost Of Capital; Banking And Insurance; Asset Pricing; Hedging; Banking; Decision Choice And Uncertainty; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Insurance Industry
Froot, K. A. "The Evolving Market for Catastrophe Event Risk." Risk Management and Insurance Review 2, no. 3 (fall 1999): 1–28. (Reprinted in Risk Management: The State of the Art, edited by S. Figlewski and R. Levich, Kluwer Academic Publishers, 2001.)
- 2020
- Working Paper
Reverse Information Sharing: Reducing Costs in Supply Chains with Yield Uncertainty
By: Pavithra Harsha, Ashish Jagmohan, Retsef Levi, Elisabeth Paulson and Georgia Perakis
Supply uncertainty in produce supply chains presents major challenges to retailers. Supply shortages create frequent disruptions in terms of promised delivery times, quantity and quality delivered. To alleviate these challenges, dual sourcing--a strategy in which... View Details
Keywords: Information Sharing; Yield Uncertainty; Ration Gaming; Blockchain; Supply Chain; Risk and Uncertainty
Harsha, Pavithra, Ashish Jagmohan, Retsef Levi, Elisabeth Paulson, and Georgia Perakis. "Reverse Information Sharing: Reducing Costs in Supply Chains with Yield Uncertainty." MIT Sloan Research Paper, No. 6172-20, October 2020.
- 17 Mar 2021
- Working Paper Summaries
Consuming Contests: Outcome Uncertainty and Spectator Demand for Contest-based Entertainment
- 2022
- Chapter
Measuring Compliance Risk and the Emergence of Analytics
By: Eugene F. Soltes
Corporate compliance manages a diverse set of regulatory and reputational concerns ranging from fraud to privacy to discrimination. However, effectively managing such risks has often been hampered by a lack of adequate information about when, where, and why misconduct... View Details
Keywords: Compliance; Risk; Analytics; Governance Compliance; Governing Rules, Regulations, and Reforms; Risk Management; Analytics and Data Science
Soltes, Eugene F. "Measuring Compliance Risk and the Emergence of Analytics." Chap. 8 in Measuring Compliance: Assessing Corporate Crime and Misconduct Prevention, edited by Melissa Rorie and Benjamin van Rooij, 137–152. Cambridge University Press, 2022.
- August 2020
- Article
Macroeconomic Drivers of Bond and Equity Risks
By: John Y. Campbell, Carolin E. Pflueger and Luis M. Viceira
Our new model of consumption-based habit generates time-varying risk premia on bonds and stocks from loglinear, homoskedastic macroeconomic dynamics. Consumers' first-order condition for the real risk-free bond generates an exactly loglinear consumption Euler equation,... View Details
Keywords: Consumption-based Habit Formation; Consumption Euler Equation; Time-varying Risk Premia; Inflation Dynamics; Bond-stock Correlation; Risk and Uncertainty; Bonds; Macroeconomics
Campbell, John Y., Carolin E. Pflueger, and Luis M. Viceira. "Macroeconomic Drivers of Bond and Equity Risks." Journal of Political Economy 128, no. 8 (August 2020): 3148–3185.
- 2021
- Working Paper
Shareholder Activism and Firms’ Voluntary Disclosure of Climate Change Risks
By: Caroline Flammer, Michael W. Toffel and Kala Viswanathan
This paper examines whether—in the absence of mandated disclosure requirements—shareholder activism can elicit greater disclosure of firms’ exposure to climate change risks. We find that environmental shareholder activism increases the voluntary disclosure of climate... View Details
Keywords: Shareholder Activism; Climate Risk; Corporate Accountability; Climate Change; Corporate Disclosure; Corporate Governance; Corporate Social Responsibility and Impact; Business and Shareholder Relations; Risk and Uncertainty; Natural Environment; Environmental Sustainability; Financial Services Industry; United States
Flammer, Caroline, Michael W. Toffel, and Kala Viswanathan. "Shareholder Activism and Firms' Voluntary Disclosure of Climate Change Risks." Harvard Business School Working Paper, No. 20-049, October 2019. (Revised March 2021.)
- Research Summary
Measuring and Managing Uncertainty in Product Development
Dissertation research regarding the startegic implications of uncertainty in product development. View Details
- January 1998
- Article
Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach
By: K. A. Froot and J. Stein
Keywords: Catastrophe Risk; Corporate Finance; Cost Of Capital; Banking And Insurance; Asset Pricing; Hedging; Banking; Decision Choice And Uncertainty; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Insurance Industry
Froot, K. A., and J. Stein. "Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach." Journal of Financial Economics 47, no. 1 (January 1998): 55–82. (Winner of Journal of Financial Economics. Jensen Prize. First Place For the best paper published in the Journal of Financial Economics in the areas of corporate finance and organizations. Revised from NBER Working Paper No. 5403, January 1996 and HBS Working Paper 96-030, December 1995.)
- 15 May 2020
- Research & Ideas
Find Your Pragmatic Path through Radical Uncertainty
Reprinted with permission from CommonWealth Magazine, which first published this article. These are times that none of us have seen before. Amid the radical uncertainty of the coronavirus pandemic, fear has reared its ugly head medically,... View Details
- 27 Mar 2020
- Working Paper Summaries
Novel Risks
- Forthcoming
- Article
Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies
By: Ishita Sen, Ana-Maria Tenekedjieva and Sangmin Oh
We study the pricing of homeowners’ insurance, a $15 trillion market essential for hedging climate-related losses. We show that insurance premiums are subject to starkly different regulations across states, creating persistent cross-subsidies and price distortions. We... View Details
Keywords: Climate Risk; Homeowners' Insurance; Price Controls; Financial Regulation; Cross-subsidization; Climate Change; Price; Risk and Uncertainty; Geographic Location; Insurance Industry; United States
Sen, Ishita, Ana-Maria Tenekedjieva, and Sangmin Oh. "Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies." Journal of Finance (forthcoming).
- August 2017 (Revised November 2017)
- Case
Accounting for Political Risk at AES
By: Gerardo Pérez Cavazos and Suraj Srinivasan
As a global energy generating company, AES frequently faces challenges from political changes and instability. This is exacerbated by the fact that in many instances AES' primary customer is the government, which is also in charge of law-making. For example, AES'... View Details
Keywords: Political Risk; Asset Impairment; Risk Factors; Fair Value; Fair Value Accounting; Financial Reporting; Financial Statements; Energy Industry; Bulgaria; Dominican Republic; United States; Venezuela
Pérez Cavazos, Gerardo, and Suraj Srinivasan. "Accounting for Political Risk at AES." Harvard Business School Case 118-023, August 2017. (Revised November 2017.)
- November 2018
- Case
Swissgrid: Enterprise Risk Management in a Digital Age
By: Robert S. Kaplan and Anette Mikes
Kurt Meyer, chief risk officer of Swissgrid, the Swiss national electricity transmission system operator, reflects on the risk management system he installed after the deregulation and liberalization of the European energy market. With 41 connections to other European... View Details
Keywords: Enterprise Risk Management; Energy Transmission; Risk and Uncertainty; Risk Management; Energy; Energy Industry; Utilities Industry; Switzerland
Kaplan, Robert S., and Anette Mikes. "Swissgrid: Enterprise Risk Management in a Digital Age." Harvard Business School Case 119-045, November 2018.
- April 1991 (Revised April 1993)
- Background Note
Strategic Response to Uncertainty
Managers often ignore uncertainty and plan as if the world were certain. Frequently, strategy is formulated based on an extrapolation of current trends into the future, or the best guess scenario of the manager involved. This note discusses four approaches to shaping... View Details
Teisberg, Elizabeth O. "Strategic Response to Uncertainty." Harvard Business School Background Note 391-192, April 1991. (Revised April 1993.)
- 2003
- Working Paper
The Risk Tolerance of International Investors
By: Kenneth A. Froot and Paul G. J. O'Connell
- June 2006 (Revised April 2007)
- Case
Nephila: Innovation in Catastrophe Risk Insurance
By: Kenneth A. Froot and Michael Heinrich
At the cross-section of capital markets and the catastrophe insurance space stands the hedge fund Nephila. Nephila must decide how best to take advantage of the newly presented market opportunities post hurricanes Katrina, Wilma, and Rita. Nephila has a plethora of... View Details
Keywords: Hedge Fund; Investment Management; Uncertainty; Risk and Uncertainty; Natural Disasters; Insurance; Capital Markets; Investment Funds; Financial Services Industry; Insurance Industry; Bermuda
Froot, Kenneth A., and Michael Heinrich. "Nephila: Innovation in Catastrophe Risk Insurance." Harvard Business School Case 206-130, June 2006. (Revised April 2007.)
- 31 Aug 2020
- Working Paper Summaries
The Pass-Through of Uncertainty Shocks to Households
- Other Unpublished Work
Inflation Uncertainty and the Wage Bargain
By: Lucy White and Hans-Joachim Voth
- Article
Business, Governments and Political Risk in South Asia and Latin America since 1970
By: G. Jones and Rachael Comunale
This article contributes to the literature on political risk in business and economic history by examining both new perspectives (risk encountered by companies domestically, rather than risk for foreign investors) and new settings (emerging markets economies in Latin... View Details
Keywords: Political Risk; Emerging Market; Bribery; Business ＆ Government Relations; Turbulence; Violence; Risk and Uncertainty; Emerging Markets; Crime and Corruption; Business and Government Relations; Business History; India; Latin America
Jones, G., and Rachael Comunale. "Business, Governments and Political Risk in South Asia and Latin America since 1970." Australian Economic History Review 58, no. 3 (November 2018): 233–264.
- Article
Risk and the Cross-Section of Stock Returns
By: Mark Seasholes, Radu Burlacu, Patrice Fontaine and Sonia Jimenez-Garces
This paper mathematically transforms unobservable rational expectation equilibrium model parameters (information precision and supply uncertainty) into a single variable that is correlated with expected returns and that can be estimated with recently observed data. Our... View Details
Keywords: Risk Premiums; Cross-sectional Asset Pricing; REE Models; Risk and Uncertainty; Asset Pricing; Investment Return
Seasholes, Mark, Radu Burlacu, Patrice Fontaine, and Sonia Jimenez-Garces. "Risk and the Cross-Section of Stock Returns." Journal of Financial Economics 105, no. 3 (September 2012): 511–522.