Publications

24 May 2023
News

Balancing Acts

Kewalramani: My tips for harmony: Do things every day that make your heart sing. Take random Wednesdays off. I go to Target, I go to the bank, I go to get my nails done. And it is super fun. Random Wednesdays are key. DM: The answers—from View Details

Keywords: work-life balance; happiness; family

January 1998
Case

Meinhard v. Salmon: Court of Appeals of New York (1928)

By: Henry B. Reiling

Meinhard and Salmon were joint venturers who had a 20-year lease on the Hotel Bristol in New York City. Salmon was the managing party. Four months before the lease was to end, the owner approached Salmon and offered to lease all the property, of which the Bristol was... View Details

Keywords: Lawsuits and Litigation; Joint Ventures; Partners and Partnerships; Decisions; Asset Pricing; Leasing; New York (city, NY)

Article

Optimal Value and Growth Tilts in Long-Horizon Portfolios

By: Jakub W. Jurek and Luis M. Viceira

We develop an analytical solution to the dynamic portfolio choice problem of an investor with power utility defined over wealth at a finite horizon, who faces a time-varying investment opportunity set, parameterized using a flexible vector autoregression. We apply this... View Details

Keywords: Decision Choices and Conditions; Private Equity; Investment; Investment Portfolio; Asset Pricing; Value

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October 1997 (Revised March 1998)
Case

Komatsu Ltd.: Project G's Globalization

By: Christopher A. Bartlett

This case describes the major strategic and organizational transformation at Komatsu aimed at changing it from a Japan-based producer of construction equipment to a truly global company with the ability to leverage its groupwide portfolio of resources and capabilities... View Details

Keywords: Change Management; Construction; Asset Pricing; Investment Portfolio; Global Strategy; Leadership; Resource Allocation; Risk Management; Expansion; Manufacturing Industry; Japan

01 Jan 2010
News

Allan W.B. Gray, MBA 1965

fascinated by stocks since he was a boy, Allan Gray has built a successful career around finding and investing in companies which are priced well below his assessment of their intrinsic value. After earning his MBA and sharpening his... View Details

25 Aug 2003
Research & Ideas

Should You Sell Your Digital Privacy?

property with a market price and opportunity cost. Rights are matters for regulation, assets are matters safely and usually better left to markets. Framed in these terms, here is the problem with regulation.... View Details

Keywords: by Manda Salls & Sean Silverthorne; Advertising

01 Dec 2009
News

Hope for Reform Dims

requirements — the cushion against losses — for all financial institutions creating a mechanism to deal with those institutions regarded as too big to fail Thain characterized the crisis as a classic bubble “fundamentally fueled by... View Details

Keywords: Securities, Commodities, and Other Financial Investments; Finance; Administration of Economic Programs; Government

January 2010 (Revised October 2011)
Case

The Congressional Oversight Panel's Valuation of the TARP Warrants (A)

By: Carliss Y. Baldwin

The Congressional Oversight Panel wants to value the warrants issued to the government in connection with the TARP investments of 2008, in order to increase the transparency of options repurchases. The case describes the methodology used to value the warrants. Students... View Details

Keywords: Financial Crisis; Asset Pricing; Financial Instruments; Investment; Business and Government Relations; Mathematical Methods; Valuation; Banking Industry; Public Administration Industry; United States

March 2006
Module Note

Exchange Rates and Global Markets

By: Mihir A. Desai and Kathleen Luchs

Describes the first module of the International Finance course at Harvard Business School. This introductory module focuses on the concepts and skills that students need throughout a course on international finance: a familiarity with exchange rates and associated... View Details

Keywords: Asset Pricing; Currency Exchange Rate; Globalized Markets and Industries; International Finance; Teaching; Innovation and Invention; Education Industry

November–December 1994
Article

A Framework for Risk Management

By: K. Froot, David S. Scharfstein and J. Stein

Keywords: Catastrophe Risk; Cost Of Capital; Banking And Insurance; Hedging; Banking; Decision Choice And Uncertainty; Framework; Risk Management; Corporate Finance; Asset Pricing; Financial Markets; Insurance; Policy; Natural Disasters; Insurance Industry

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01 Dec 2008
News

Seth Klarman

a mountain of cash — 40 to 50 percent of Baupost’s $14 billion–plus in assets — for several years, the firm’s recent investments have cut its cash stash in half. Distress selling, it seems, breeds the kind of bargains Klarman lives for.... View Details

Keywords: Roger Thompson; Finance

16 Aug 2010
Lessons from the Classroom

HBS Introduces Marketing Analysis Tools for Managers

analysis, which helps managers assess the feasibility of proposed fixed and variable marketing expenditures, the feasibility of pricing changes, and the feasibility of a new product introduction. "Customer Lifetime Value... View Details

Keywords: by Sarah Jane Gilbert

December 1993
Article

Risk Management: Coordinating Corporate Investment and Financing Policies

By: K. A. Froot, David S. Scharfstein and J. Stein

Keywords: Catastrophe Risk; Corporate Finance; Banking And Insurance; Hedging; Banking; Decision Choice And Uncertainty; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Cost of Capital; Asset Pricing; Insurance Industry

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fall 2008
Article

The Intermediation of Financial Risks: Evolution in the Catastrophe Reinsurance Market

By: Kenneth A. Froot

In this paper, I provide evidence concerning the imperfections in the reinsurance market. I try to get at some of the root causes of these imperfections, e.g., the behavior of ratings firms and the agency problems associated with the corporate form of ownership. I also... View Details

Keywords: Catastrophe Risk; Corporate Finance; Banking And Insurance; Hedging; Banking; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Cost of Capital; Asset Pricing; Insurance Industry

December 2001
Case

Qwest Communications International Inc.

By: Thomas R. Eisenmann and Christopher Hackett

Describes the evolution of Qwest from a small fiber-optic construction firm in 1996 to a global telecommunications giant in 2001. Focuses on Qwest's pivotal acquisition of "Baby Bell" US West, a regional Bell operating company many times Qwest's size. Discusses the... View Details

Keywords: Mergers and Acquisitions; Asset Pricing; Business History; Knowledge Use and Leverage; Organizational Culture; Partners and Partnerships; Vertical Integration; Telecommunications Industry