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- Faculty Publications (942)
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- All HBS Web (1,263)
- Faculty Publications (942)
- April 2005 (Revised January 2006)
- Background Note
Note on Basic Option Properties
Options are contracts that give the right, but not the obligation, to either buy or sell a specific underlying security for a specified price on or before a specific date. Explains the basis of options, covering fundamentals such as option terminology, the payoff... View Details
Keywords: Stock Options
Chacko, George C., Peter A. Hecht, Vincent Dessain, and Anders Sjoman. "Note on Basic Option Properties." Harvard Business School Background Note 205-105, April 2005. (Revised January 2006.)
- October 2003 (Revised December 2003)
- Case
STMicroelectronics N.V., 2003 Convertible Bond Offering
Focuses on the valuation of a complex option embedded in a convertible debenture with a negative yield to maturity. View Details
Fruhan, William E., Jr. "STMicroelectronics N.V., 2003 Convertible Bond Offering." Harvard Business School Case 204-092, October 2003. (Revised December 2003.)
- September 2023 (Revised January 2024)
- Case
Icahn Enterprises: Ponzi Scheme or Sound Investment
By: Aiyesha Dey, Jonas Heese and James Weber
Icahn Enterprises, a publicly traded limited partnership founded and operated by famed activist investor Carl Icahn, had earned above market returns for over a decade. Between 2018 and early 2023, it had a compound annual return of 31%. Icahn invested in undervalued... View Details
Dey, Aiyesha, Jonas Heese, and James Weber. "Icahn Enterprises: Ponzi Scheme or Sound Investment." Harvard Business School Case 124-013, September 2023. (Revised January 2024.)
- July 1994 (Revised September 1995)
- Case
Cougars
By: Scott P. Mason and Mihir A. Desai
Provides an introduction to zero coupon bonds and stripping coupon bonds. Concerns the relationship between the spot curve, the strip curve, and the coupon curve. View Details
Mason, Scott P., and Mihir A. Desai. "Cougars." Harvard Business School Case 295-006, July 1994. (Revised September 1995.)
- Article
Dividend Decisions and Earnings
By: Paul M. Healy and Franco Modigliani
Healy, Paul M., and Franco Modigliani. "Dividend Decisions and Earnings." Journal of Accounting, Auditing & Finance 5, no. 1 (Winter 1990): 3–26.
- April 26, 2007
- Article
How to Strengthen Wall Street's Global Trust
By: Robert C. Pozen
Pozen, Robert C. "How to Strengthen Wall Street's Global Trust." Financial Times (April 26, 2007).
John M. Regan, Jr.
Regan helped build Marsh & McLennan into the largest U.S. insurance broker and the first US company to buy its way into the world’s only major insurance underwriting exchange, Lloyd’s of London. Regan has played an instrumental role... View Details
Keywords: Finance
- January 1995
- Case
Keller Fund's Option Investment Strategies, The
By: W. Carl Kester
A closed-end mutual fund's decision to study option trading provides an opportunity to study the profit profile and pricing of multiple option investment strategies (e.g., buy a call, buy a put, write a call, buy stock-write call, etc.). This case is designed to... View Details
Kester, W. Carl. "Keller Fund's Option Investment Strategies, The." Harvard Business School Case 295-096, January 1995.
- March 2005 (Revised December 2005)
- Case
Morgan Stanley and TRAC-X: The Battle for the CDS Indexes Market
Morgan Stanley's credit derivatives business, specifically its collateralized debt obligation (CDO) business, has been hugely successful. One of its leading offerings is the TRAC-X product, jointly created and marketed by Morgan Stanley and JP Morgan. However, a new... View Details
Keywords: Credit Derivatives and Swaps; Product; Competition; Capital Markets; Financial Services Industry
Chacko, George C., Vincent Dessain, Anders Sjoman, Leonie Maruani, and Kate Hao. "Morgan Stanley and TRAC-X: The Battle for the CDS Indexes Market." Harvard Business School Case 205-075, March 2005. (Revised December 2005.)
- 09 Jun 2020
- Working Paper Summaries
Aggregate and Firm-Level Stock Returns During Pandemics, in Real Time
- January–February 1976
- Article
Option Pricing When Underlying Stock Returns are Discontinuous
By: Robert C. Merton
Merton, Robert C. "Option Pricing When Underlying Stock Returns are Discontinuous." Journal of Financial Economics 3 (January–February 1976): 125–144. (Chapter 9 in Continuous-Time Finance.)
- August 1994
- Background Note
Derivative Markets: Structure and Risks
Gives a conceptual understanding of derivative products, their applications, and valuation. After a brief treatment of exchange-traded derivatives, explores over-the-counter (OTC) derivatives, emphasizing the market, credit, legal, operational, and other risks... View Details
Mason, Scott P., and Kuljot Singh. "Derivative Markets: Structure and Risks." Harvard Business School Background Note 295-009, August 1994.
- Article
Investment in United States Government Securities by State Governments
By: Joseph L. Bower
Bower, Joseph L. "Investment in United States Government Securities by State Governments." National Tax Journal 13, no. 2 (June 1960): 127–139.
- April 2005 (Revised February 2006)
- Background Note
Note on Option Valuation
For every option, a fair price has to be established. But how do you actually price an option? Assuming a basic knowledge of options, this note covers two pricing methods: the binominal tree and the Black-Scholes/Merton formula. View Details
Chacko, George C., Peter A. Hecht, Vincent Dessain, and Anders Sjoman. "Note on Option Valuation." Harvard Business School Background Note 205-106, April 2005. (Revised February 2006.)
- Article
Understanding Inflation-Indexed Bond Markets
By: John Y. Campbell, Robert J. Shiller and Luis M. Viceira
Campbell, John Y., Robert J. Shiller, and Luis M. Viceira. "Understanding Inflation-Indexed Bond Markets." Brookings Papers on Economic Activity (Spring 2009): 79–120.
- spring 1974
- Article
The Optimality of a Competitive Stock Market
By: Robert C. Merton and Marti G. Subrahmanyam
Merton, Robert C., and Marti G. Subrahmanyam. "The Optimality of a Competitive Stock Market." Bell Journal of Economics and Management Science 5, no. 1 (spring 1974): 145–170.
- December 2010 (Revised July 2011)
- Supplement
DoubleClick, Inc.: Additional Paid-in-CapitalStock Options
By: David F. Hawkins
Income statement and balance sheet consequences of DoubleClick adoption of the fair value method to account for stock options. View Details
- December 1982 (Revised November 2006)
- Background Note
Note on Futures Contracts
By: David E. Bell
Provides an introduction to futures contracts, what they are, what their use in hedging is, and their usefulness in providing forecasts. Also covers basic risk. Includes a list of commodities currently traded in futures markets and the necessary properties of a... View Details
Keywords: Futures and Commodity Futures
Bell, David E. "Note on Futures Contracts." Harvard Business School Background Note 183-126, December 1982. (Revised November 2006.)
- October 1972
- Article
A Dynamic Model for Bond Portfolio Management
By: D. B. Crane and S. P. Bradley
Crane, D. B., and S. P. Bradley. "A Dynamic Model for Bond Portfolio Management." Management Science 19, no. 2 (October 1972).