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  • May 2018
  • Article

U.S. Treasury Premium

By: Wenxin Du, Joanne Im and Jesse Schreger
We quantify the difference in the convenience yield of U.S. Treasuries and government bonds of other developed countries by measuring the deviation from covered interest parity between government bond yields. We call this wedge the “U.S. Treasury Premium.” We document... View Details
Keywords: Bonds; Investment Return; Interest Rates; Financial Crisis
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  • September 1993 (Revised September 1997)
  • Case

China (A): The Great Awakening

By: Debora L. Spar
As the third largest economy after the United States and Japan, China's startling economic growth has spurred increasing interest in the economic, social, and political factors that catapulted the country to sudden prominence. This case starts with an overview of the... View Details
Keywords: History; Government and Politics; Society; Macroeconomics; China
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    Robert C. Merton

    Robert C. Merton is the School of Management Distinguished Professor of Finance at the MIT Sloan School of Management.

    Merton is University Professor Emeritus at Harvard University and was the George Fisher Baker Professor of... View Details

    Keywords: financial services; financial services; financial services; financial services; financial services; financial services
    • 20 Oct 2010
    • Op-Ed

    Export Competitiveness: Reversing the Logic

    the current economic and financial crisis, countries around the globe are looking for ways to reignite economic growth. Traditionally, export-led growth has been perceived as one of the most promising pathways to do so. The experience of... View Details
    Keywords: by Christian Ketels
    • October 2012 (Revised February 2013)
    • Case

    Jim Johnson's Re-election to the Goldman Sachs Board

    By: Suraj Srinivasan and Kelly Baker
    The case presents the opposition by a leading institutional investor in Goldman Sachs to the re-election of Jim Johnson to the board of directors of the company. The investor, Sequoia Fund, opposes the re-election citing Jim Johnson's prior track record as the CEO of... View Details
    Keywords: Board Of Directors; Corporate Governance; Director Elections; Goldman Sachs; Reputation; Institutional Investing; Governing and Advisory Boards; Corporate Accountability; Banking Industry; New York (city, NY)
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    • September 2009 (Revised September 2009)
    • Case

    The Termination of U.S. Auto Dealerships in 2009

    By: Das Narayandas, Kerry Herman and Sarah Morton
    The case chronicles the sudden termination of many U.S. autodealers in the wake of the economic crisis in the fall of 2008. View Details
    Keywords: Business Exit or Shutdown; Financial Crisis; Marketing; Distribution; Sales; Auto Industry; United States
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    • April 2011 (Revised May 2013)
    • Case

    South Africa (A): Stuck in the Middle?

    By: Richard H. K. Vietor and Diego Comin
    Fifteen years after ending apartheid, formal unemployment in South Africa was still at 24%. While the country had grown at 4 to 5% annually during the 2000s, the financial crisis set it back by 1 million more unemployed. Moreover, it seemed as if the nation were stuck... View Details
    Keywords: Financial Crisis; Inflation and Deflation; Policy; Employment; Wages; Competition; South Africa
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    • April 2008 (Revised June 2008)
    • Case

    Korea: On the Back of a Tiger (Abridged)

    What caused the 1997 Korea crisis? Did the International Monetary Fund (IMF) help or hinder recovery? Did democracy help or hinder recovery? Seen as an economic miracle, Korea succumbed to the wave of currency crises sweeping Asia in late 1997. Did the same state-led... View Details
    Keywords: Financial Crisis; Trade; Currency Exchange Rate; Foreign Direct Investment; Governing Rules, Regulations, and Reforms; Business and Government Relations; Asia; South Korea
    Related
    • 01 May 2020
    • In Practice

    COVID-19’s Hard Lessons Might Prepare Business for Climate Change

    stressed. In the long run, I hope that companies will emerge from the crisis with a renewed appreciation for the importance of paying attention to the potential for catastrophic risks such as climate change, and for the importance of... View Details
    Keywords: by Danielle Kost
    • April 2011 (Revised December 2012)
    • Supplement

    South Africa (B): Getting Unstuck?

    By: Richard H. K. Vietor and Diego Comin
    15 years after ending apartheid, formal unemployment in South Africa was still at 24%. While the country had grown at 4 to 5% annually during the 2000s, the financial crisis set it back by 1 million more unemployed. Moreover, it seemed as if the nation were stuck... View Details
    Keywords: Financial Crisis; Inflation and Deflation; Policy; Employment; Wages; Competition; South Africa
    Related
    • December 2008 (Revised March 2009)
    • Case

    Rosetree Mortgage Opportunity Fund

    By: Victoria Ivashina and Andre F. Perold
    In December 2008, in the midst of the worst financial crisis since the Great Depression, Rosetree Capital Management was evaluating the purchase of a pool of U.S. residential mortgages. The firm had formed an investment vehicle to acquire troubled residential mortgages... View Details
    Keywords: Financial Crisis; Borrowing and Debt; Mortgages; Investment; Housing; Valuation; United States
    Related
    • October 2019 (Revised June 2020)
    • Case

    Pantheon Ventures in 2019

    By: Victoria Ivashina and Tonia Labruyere
    The case discusses the strategy of Pantheon, a UK-based fund of funds investing in private equity. Client demands and preferences had changed in the aftermath of the 2008 global financial crisis and Pantheon had to adapt its business model to accommodate requests for... View Details
    Keywords: Financial Management; Private Equity; Corporate Strategy; Financial Services Industry; United Kingdom
    Related
    • April 2015 (Revised October 2024)
    • Case

    The German Export Engine

    By: Gunnar Trumbull, Jonathan Schlefer and Sophus A. Reinert
    In fall of 2018, Germany’s chancellor Angela Merkel had logged significant successes. Germany was the largest exporter in the world, had maintained low unemployment through the 2008 financial crisis, and was gradually reforming its welfare state to meet future pension... View Details
    Keywords: Economy; Economic Growth; Success; Leadership; Problems and Challenges; Germany
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    • 18 May 2022
    • Research & Ideas

    Are Banks the ‘Bad Guys’? Overdraft Fees Are Crushing Low-Income Customers

    shows. Despite scrutiny of overdraft fees during the financial crisis more than a decade ago, some banks still reorder checking account debits so that the largest amounts, rather than the earliest debits... View Details
    Keywords: by Rachel Layne; Financial Services
    • March 2002 (Revised July 2004)
    • Case

    Price of Light, The: Privatization, Regulation and Valuation in Brazil

    Asks students to produce a valuation for Rio Light, a Brazilian power company that is state owned and to be sold in March 1996. If successful, the privatization would bring in over $2 billion to the Brazilian treasury. But success was far from assured. Members of the... View Details
    Keywords: Valuation; Energy Generation; Privatization; Corporate Governance; Energy Industry; Brazil
    Related
    • August 2018 (Revised June 2019)
    • Case

    Oaktree: Pierre Foods Investment

    By: Victoria Ivashina and Mike Harmon
    This case is a setting to discuss “loan to own” investment strategy that is often pursued by distressed investors. The aftermath of the 2007 financial crisis left many companies with poor liquidity and limited ability to obtain credit. One of these companies was Pierre... View Details
    Keywords: Distress Investing; Investment; Debt Securities; Strategy; Restructuring
    Related
    • 11 Dec 2023
    • Research & Ideas

    Doing Well by Doing Good? One Industry’s Struggle to Balance Values and Profits

    in an uncertain economy. Navigating an industry in crisis Working in the field of journalism has never been financially rewarding or secure. But the field enjoyed a “golden age” from the mid-to-late 20th... View Details
    Keywords: by Scott Van Voorhis
    • September 2016 (Revised March 2018)
    • Case

    Qalaa Holdings and the Egyptian Refining Company

    By: Victoria Ivashina and Marc Homsy
    This case follows Qalaa Holdings, a successful Egypt-based private equity firm, and gives insight into the types of investments it pursued, its growth over time, and the limited partner base it had at hand. It also allows students to consider and debate whether the... View Details
    Keywords: Africa; Structuring And Financing Large Projects; Private Equity; Infrastructure; Project Finance; Emerging Markets; Financial Services Industry; Egypt; Africa
    Related
    • November 2010
    • Case

    Spudnik, Inc.

    By: William A. Sahlman and Elizabeth A. Kind
    This case describes the plan to finance a revolutionary new television set manufacturing business in late 2009. Yatin Mundkur, a venture capitalist at Artiman Ventures, has recruited a team of veteran eecutives from the optical disk drive business, to design large... View Details
    Keywords: Technological Innovation; Information Technology; Venture Capital; Disruptive Innovation; Corporate Finance; Electronics Industry
    Related
    • 06 Feb 2009
    • News

    Keeping a keen eye on consumer behaviour