Publications

April 2024
Article

Demand-and-Supply Imbalance Risk and Long-Term Swap Spreads

By: Samuel G. Hanson, Aytek Malkhozov and Gyuri Venter

We develop and test a model in which swap spreads are determined by end users' demand for and constrained intermediaries’ supply of long-term interest rate swaps. Swap spreads reflect compensation both for using scarce intermediary capital and for bearing convergence... View Details

Keywords: Swap Spreads; Credit Derivatives and Swaps; Interest Rates; Risk and Uncertainty; Volatility

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01 Jun 2010
News

Powering Up

Watertown, Massachusetts. The company builds systems derived from innovative electricity-delivery technology developed by an MIT professor (Boston Globe, February 22, 2010). While initial applications — Giler thinks they will be... View Details

Keywords: Management, Scientific, and Technical Consulting Services; Professional Services; Electric Power Generation, Transmission, Distribution; Utilities

February 2010
Teaching Note

Saginaw Parts Co. and the General Motors Corp. Credit Default Swap (TN)

By: William E. Fruhan

Teaching Note for [210056]. View Details

Keywords: Credit Derivatives and Swaps; Insolvency and Bankruptcy; Law; Cost of Capital; United States

May 2005 (Revised December 2005)
Case

Nexgen: Structuring Collateralized Debt Obligations (CDOs)

A client asks Luc Giraud, CEO of the structured finance solutions provider Nexgen Financial Solutions, to put together a solution that allows the client to add AAA-rated bonds to its portfolio. The client cannot find suitably priced top-rated bonds in the market and... View Details

Keywords: Credit Derivatives and Swaps; Risk and Uncertainty; Debt Securities; Bonds; Financial Services Industry

21 Jul 2010
Research & Ideas

HBS Faculty Debate Financial Reform Legislation

everything I might have wanted, but the legislative process seldom produces that. Certain elements of this reform are positive and helpful, including the creation of a formal resolution authority and a systemic risk regulator; provisions requiring View Details

Keywords: by Staff

June 2024
Article

Counterparty Risk and Counterparty Choice in the Credit Default Swap Market

By: Wenxin Du, Salil Gadgil, Michael Gordy and Clara Vega

We investigate how market participants price and manage counterparty credit risk using confidential trade repository data on single-name credit default swap (CDS) transactions. We find that counterparty risk has a modest impact on the pricing of CDS contracts but a... View Details

Keywords: Credit Derivatives and Swaps; Market Participation; Risk and Uncertainty; Price; Financial Markets; Credit

Find at Harvard

24 Apr 2014
News

Tapping into a sustainable enterprise that provides income for indigenous Mexican families

that allows indigenous Mexican populations to earn vital income by planting seedlings and developing pine-tree forests on their degraded lands. Arias-King, president of T&R Chemicals in Texas, uses natural pine resin tapped from trees to make View Details

Web

2.1.1 Citing Sources & Plagiarism | MBA

fully, including the page number(s) on which the quoted words appear in the original text. Paraphrasing : All paraphrased material must be acknowledged. Whenever ideas or facts are derived from a student’s reading and research or from a... View Details

March 1984 (Revised August 1996)
Case

B.F. Goodrich-Rabobank Interest Rate Swap

By: Jay O. Light

A U.S. manufacturing organization and a Eurobank swap fixed and floating rate obligations to reduce their financing costs. View Details

Keywords: Financing and Loans; Cost Management; Production; Interest Rates; Credit Derivatives and Swaps; Auto Industry; Financial Services Industry; United States

July 2002
Case

First American Bank: Credit Default Swaps

This case examines a bank's ability to manage its credit exposure to a particular client using credit default swaps. View Details

Keywords: Credit Derivatives and Swaps; Risk and Uncertainty; Banks and Banking; Banking Industry

01 Mar 2007
News

HBS Issues Upbeat 2006 Annual Report

generated by units that operate in competitive, customer-driven markets: Executive Education and Harvard Business School Publishing (HBSP). Another 22 percent of operating revenue was derived from current-use gifts and endowment... View Details

Keywords: Colleges, Universities, and Professional Schools; Educational Services

22 Sep 2009
News

The Case for Regulatory Reform

overview by Treasury Secretary Timothy Geithner and Lawrence Summers, director of the National Economic Council, in the June 15 Washington Post. Among other things, the proposed reforms will raise capital and liquidity requirements for all financial institutions,... View Details

Keywords: Roger Thompson; Colleges, Universities, and Professional Schools; Educational Services; Government

01 Sep 2012
News

Case Study Pioneer

building the Intercollegiate Case Clearing House, an organization at HBS that was dedicated to US and international dissemination of cases written by faculty from Harvard and other universities. A legacy of his work is the Andrew R. Towl Endowment Fund at HBS for the... View Details

Keywords: Colleges, Universities, and Professional Schools; Educational Services

January 2013 (Revised April 2017)
Supplement

Maxum Petroleum, Inc.

By: W. Carl Kester

Maxum seeks an oil-price hedging strategy that yields substantial cash during oil price spikes, is affordable under ordinary circumstances, and is easily managed. It is striving to avoid a repeat of the challenging situation encountered in 2008 when spiking oil prices... View Details

Keywords: Hedging; Options; Commodities; Credit Derivatives and Swaps; Risk Management; Futures and Commodity Futures; Financial Strategy; Volatility