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Show Results For
- All HBS Web
(10,529)
- People (35)
- News (2,482)
- Research (6,104)
- Events (29)
- Multimedia (131)
- Faculty Publications (4,586)
- 31 Mar 2018
- Working Paper Summaries
Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach
- 2024
- Working Paper
LASH Risk and Interest Rates
By: Laura Alfaro, Saleem Bahaj, Robert Czech, Jonathan Hazell and Ioana Neamtu
We introduce a framework to understand and quantify a form of liquidity risk that we dub Liquidity After Solvency Hedging or “LASH” risk. Financial institutions take LASH risk when they hedge against losses, using strategies that lead to liquidity needs when the value... View Details
Keywords: Liquidity; Monetary Policy; Non-bank Intermediaries; Hedging; Risk and Uncertainty; Investment Funds; Financial Condition; Interest Rates
Alfaro, Laura, Saleem Bahaj, Robert Czech, Jonathan Hazell, and Ioana Neamtu. "LASH Risk and Interest Rates." Bank of England Staff Working Papers, No. 1,073, May 2024. (NBER Working Paper Series, No. 33241, December 2024.)
- 2011
- Chapter
Asset Allocation by Institutional Investors after the Recent Financial Crisis
By: Robert C. Pozen, Betsy Palmer and Natalie Shapiro
Pozen, Robert C., Betsy Palmer, and Natalie Shapiro. "Asset Allocation by Institutional Investors after the Recent Financial Crisis." In Growing Old: Paying for Retirement and Institutional Money Management after the Financial Crisis, edited by Y. Fuchita, R. Herring, and R. Litan. Brookings Institution Press, 2011.
- March 2003 (Revised June 2003)
- Case
Risk Arbitrage: Abbott Labs and Alza (A)
By: George C. Chacko, Randolph B. Cohen, Marc Chennault and Andrew Kuhlman
A hedge fund is trying to decide whether to capitalize on a seeming risk arbitrage opportunity that exists during the Abbott Labs acquisition of ALZA. View Details
Chacko, George C., Randolph B. Cohen, Marc Chennault, and Andrew Kuhlman. "Risk Arbitrage: Abbott Labs and Alza (A)." Harvard Business School Case 203-003, March 2003. (Revised June 2003.)
- 2010
- Other Unpublished Work
Share Issuance and Factor Timing
By: Robin Greenwood and Samuel Hanson
We show that characteristics of stock issuers can be used to forecast important common factors in stocks returns such as those associated with book-to-market, size, and industry. Specifically, we use differences between the attributes of stock issuers and repurchasers... View Details
Keywords: Forecasting and Prediction; Equity; Stocks; Stock Shares; Investment Return; Investment Portfolio; Price; Performance Evaluation
Greenwood, Robin, and Samuel Hanson. "Share Issuance and Factor Timing." December 2010. (Appendix. Previously titled "Characteristic Timing," NBER Working Paper Series, No. 15948.)
- 18 Feb 2020
- Working Paper Summaries
A Preliminary Framework for Product Impact-Weighted Accounts
- 10 Jan 2013
- News
From Wall Street to Visual Art
investment banker who, while in her early 20s, was working at Goldman Sachs where a set of paintings she admired gave her the urge to paint. She began to explore painting, but remained in the business world. "After Goldman, I went to HBS,... View Details
- Profile
Kayode Ogunro
employer. How has HBS prepared you for your new job? My job will require a substantial amount of travel to Europe and Africa and more hands on management of deals and projects than I would face with a typical investment firm. My HBS... View Details
- September 1960 (Revised August 1983)
- Background Note
Note on Financial Analysis
Serves as an introduction to funds flows and ratio analysis. Includes basic discussion of these tools as assists in the analyst's or manager's job. Supplementary material includes problem set and answers. View Details
Helfert, Erich A. "Note on Financial Analysis." Harvard Business School Background Note 206-047, September 1960. (Revised August 1983.)
- April 1988 (Revised October 1988)
- Case
Equity Management, Inc.
By: David F. Hawkins
Hawkins, David F. "Equity Management, Inc." Harvard Business School Case 188-147, April 1988. (Revised October 1988.)
- winter 1985
- Article
Sovereignty en Garde: Negotiating with Foreign Investors
By: L. T. Wells Jr. and D. Encarnation
Wells, L. T., Jr., and D. Encarnation. "Sovereignty en Garde: Negotiating with Foreign Investors." International Organization 39, no. 1 (winter 1985): 47–78. (Reprinted in Benjamin Gomes-Casseres and David B. Yoffie (eds.) The International Political Economy of Direct Foreign Investment. London: Edward Elgar Publishing Ltd., 1993.)
- 2020
- Blog
LinkedIn Articles: Our Impact on the Environment
By: George Serafeim
Serafeim, George. "Our Impact on the Environment." LinkedIn Articles (blog). September 29, 2020. https://www.linkedin.com/pulse/our-impact-environment-george-serafeim/.
- May 2020
- Teaching Plan
SK Group: Social Progress Credits
By: George Serafeim, Ethan Rouen and David Freiberg
Teaching Plan for HBS Case No. 120-071. View Details
- January – February 2011
- Article
Benchmarks as Limits to Arbitrage: Understanding the Low-Volatility Anomaly
By: Malcolm Baker, Brendan Bradley and Jeffrey Wurgler
Contrary to basic finance principles, high-beta and high-volatility stocks have long underperformed low-beta and low-volatility stocks. This anomaly may be partly explained by the fact that the typical institutional investor's mandate to beat a fixed benchmark... View Details
Keywords: Volatility; Stocks; Investment Return; Investment Portfolio; Risk Management; Performance Expectations
Baker, Malcolm, Brendan Bradley, and Jeffrey Wurgler. "Benchmarks as Limits to Arbitrage: Understanding the Low-Volatility Anomaly." Financial Analysts Journal 67, no. 1 (January–February 2011).
- 2022
- Other Unpublished Work
Got 'Critical Minerals'? Hooray! But Be Careful
By: Louis T. Wells
When a country has “critical minerals,” certain issues require special attention in the country’s mining legislation or while negotiating contracts with potential mining investors. As well, to obtain maximum benefit the government should prepare for negotiations with... View Details
Wells, Louis T. "Got 'Critical Minerals'? Hooray! But Be Careful." Columbia FDI Perspectives, No. 338, August 2022.
- December 2017 (Revised July 2020)
- Case
Opportunity Growth at Grupo Torre Médica
By: Juan Alcácer, J. Ramon Lecuona-Torras and Katherine Grozier
Senior management must make a decision for how to grow their search fund to reach the final margins for investors. View Details
Alcácer, Juan, J. Ramon Lecuona-Torras, and Katherine Grozier. "Opportunity Growth at Grupo Torre Médica." Harvard Business School Case 718-463, December 2017. (Revised July 2020.)
- 2023
- Working Paper
Interest-Rate Risk and Household Portfolios
By: Sylvain Catherine, Max Miller, James Paron and Natasha Sarin
How are households exposed to interest-rate risk? When rates fall, households face lower future expected returns but those holding long-term assets—disproportionately the wealthy and middle-aged—experience capital gains. We study the hedging demand for long-term assets... View Details
Keywords: Portfolio Choice; Social Security; Interest Rates; Investment Portfolio; Equality and Inequality; Welfare
Catherine, Sylvain, Max Miller, James Paron, and Natasha Sarin. "Interest-Rate Risk and Household Portfolios." Working Paper, October 2023. (Reject and Resubmit, American Economic Review.)
- May 1997 (Revised May 2004)
- Case
Riverbend Telephone Company
By: William J. Bruns Jr.
An independent telephone company needs to acquire a new truck for use in telephone line installation and maintenance and must decide whether to buy or lease the truck. The company must address the rate of return in a regulated industry and the best accounting treatment... View Details
Bruns, William J., Jr. "Riverbend Telephone Company." Harvard Business School Case 197-104, May 1997. (Revised May 2004.)