Publications
Publications
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- All HBS Web
(3,414)
- Faculty Publications (824)
- August 2005 (Revised April 2014)
- Teaching Note
Innocents Abroad: Currencies and International Stock Returns
By: Mihir A. Desai, Kathleen Luchs, Elizabeth A. Meyer and Mark Veblen
What do international stocks contribute to the portfolio of a U.S. investor? How do currencies interact with stock price movements in determining the benefits of international diversification? This case helps students compare the risks and returns of foreign stock... View Details
Keywords: Diversification; International CAPM; CAPM; Home Bias; Currency Risk; Exchange Rate Risk; International Stock Market Returns; Financial Services Industry; United States; Currency Exchange Rate; Stocks; Financial Markets; International Finance; Investment Return; Currency; Risk and Uncertainty; Emerging Markets; Investment Portfolio; United States; Australia; Canada; China; Germany; India; Japan; United Kingdom
- July 2005 (Revised August 2011)
- Case
Jesse Holman Jones and the Reconstruction Finance Corporation
By: Nitin Nohria, Anthony Mayo and Bridget Gurtler
Jesse Holman Jones is regarded as one of the most influential men in reviving the American economy from the Great Depression. With only an 8th grade education, he rose to the top of the banking, real estate, and lumber industries, as well as the upper echelons of... View Details
- July 2005 (Revised October 2006)
- Case
Global Fun: The Internationalization of Theme Parks
By: Geoffrey G. Jones and Steven Shaheen
A fictitious private equity firm considers whether to buy the international theme park business of the LEGO Group. Considers the origins of theme parks in the United States; the international expansion of Disney theme parks to Tokyo and Paris since the 1970s; and the... View Details
- July/September 2005
- Article
Le consensus de Paris: la France et les règles de la finance mondiale
By: Rawi Abdelal
This article is about the institutional foundations of the globalization of finance. These institutional foundations are both informal and formal. Until the 1980s the formal rules of the international financial architecture – most consequentially in the European Union... View Details
- June 2005 (Revised January 2007)
- Case
Equator Principles, The: An Industry Approach to Managing Environmental and Social Risks
By: Benjamin C. Esty, Carin-Isabel Knoop and Aldo Sesia
In June 2003, 10 leading international banks adopted new voluntary guidelines, called the Equator Principles, to promote sustainable development in project finance. In recent years, nongovernmental organizations (NGOs) had raised issues about the lenders'... View Details
- 2005
- Other Unpublished Work
Institutions, Capital Constraints and Entrepreneurial Firm Dynamics: Evidence from Europe
- March 2005 (Revised August 2007)
- Case
Aguas Argentinas: Settling a Dispute
By: Louis T. Wells Jr. and Alexandra de Royere
The French-owned Aguas Argentinas faces a demand from the Argentine government that it renegotiate its concession to operate the Buenos Aires water and sewage services. The company must decide whether to continue with efforts to settle on a new contract or to exercise... View Details
- March 2005 (Revised June 2005)
- Background Note
Arbitration between Foreign Investors and Host Governments
By: Louis T. Wells Jr. and Regina Garcia-Cuellar
Explains the emergence of international arbitration as an option for foreign investors with disputes with governments of emerging markets. Presents issues about whether arbitration will remain acceptable to countries and governments. View Details
- March 2005 (Revised March 2006)
- Case
Foreign Exchange Hedging Strategies at General Motors: Competitive Exposures
By: Mihir A. Desai and Mark Veblen
How can a multinational firm analyze and manage currency risks that arise from competitive exposures? General Motors has a substantial competitive exposure to the Japanese yen. Although the risks GM faces from the depreciating yen are widely acknowledged, the company's... View Details
- March 2005 (Revised July 2007)
- Case
Capital Controls in Chile in the 1990s (A)
By: Laura Alfaro, Rafael M. Di Tella and Ingrid Vogel
In 1991, Chile adopted a framework of capital controls focused on reducing the massive flows of foreign investment coming into the country as international interest rates remained low. Capital inflows threatened the Central Bank's ability to manage the exchange rate... View Details
- March 2005 (Revised January 2006)
- Case
Foreign Exchange Hedging Strategies at General Motors: Transactional and Translational Exposures
By: Mihir A. Desai and Mark Veblen
How should a multinational firm manage foreign exchange exposures? Examines transactional and translational exposures and alternative responses to these exposures by analyzing two specific hedging decisions by General Motors. Describes General Motors' corporate hedging... View Details
- February 2005 (Revised November 2012)
- Case
Chuck's Wagon Inc.
By: Paul W. Marshall and Derek Lewis
This case describes the experiences of an HBS student as he takes on the challege of transitioning from an intern to a president at a small consumer packaged goods firm in Southern Texas. This HBS student is confronted with the opportunity to perform an operational and... View Details
- January 2005 (Revised October 2005)
- Case
Private Capital and Public Policy: Standard & Poor's Sovereign Credit Ratings
By: Rawi E. Abdelal and Christopher Bruner
Describes Standard & Poor's sovereign credit ratings business. Provides background on the history of credit ratings agencies, the meaning of credit ratings, the expansion of the sovereign ratings business over recent decades, and the market for credit ratings. Also,... View Details
- January 2005 (Revised June 2005)
- Background Note
Reading the Balance of Payments
Describes the construction of the balance of payments and defines frequently used measures taken from the balance of payments. View Details
- 2005
- Article
Increasing Exploration: Evidence from International Expansion
By: Juan Alcacer, Heather Berry and Wilbur Chung
While firms balance exploitation and exploration to maximize profits, specifics of how firms pursue this balance are scarce. We focus on how firms increase their exploration after obtaining greater capabilities and experience via sequential international expansion.... View Details
Keywords: Price Bubble; Growth and Development Strategy; Growth Management; Industry Growth; Research and Development; Profit; Organizational Change and Adaptation; Knowledge Use and Leverage; Disruptive Innovation; Five Forces Framework; SWOT Analysis; Duopoly and Oligopoly; Manufacturing Industry; Japan; United States
- December 2004 (Revised May 2005)
- Case
Levenger Company
By: Myra M. Hart, Kristin Lieb and Victoria Winston
The Leveens started a high-end catalog business as a small home-based venture in 1987. It grew into a nationally recognized, $60 million company, offering products that ranged from unique pens and pencils to leather briefcases and fully furnished offices. In 1999, it... View Details
- December 2004 (Revised April 2006)
- Case
Nestle and Alcon--The Value of a Listing
By: Mihir A. Desai, Vincent Dessain and Anders Sjoman
In response to a perceived undervaluation by the capital markets, Nestle is considering divesting a part of its ophthalmology subsidiary, Alcon, and must decide on a listing location. In the process, students are challenged to wrestle with the valuation of a... View Details
- December 2004 (Revised May 2005)
- Case
The Consultative Group on International Agricultural Research
By: David E. Bell and Hal Hogan
The Consultative Group on International Agricultural Research (CGIAR) has a long, successful history at inventing solutions that help developing countries improve their agriculture. Their research centers are spread across the globe. For many years, they were funded by... View Details
- December 2004
- Article
A Multinational Perspective on Capital Structure Choice and Internal Capital Markets
By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.