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  • 03 Nov 2009
  • First Look

First Look: Nov. 3

structure of financial assets and non-fundamental risk. An asset is fragile if its owners collectively have to buy or sell. Such assets are susceptible to non-fundamental price movements. An asset can be fragile because of concentrated ownership, or because its owners... View Details
Keywords: Martha Lagace
  • 03 Jan 2017
  • First Look

January 3, 2017

structure and liquidity policies—for tax or agency reasons—appears to be a key driver of their decision to simultaneously raise and pay out capital. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=48383 Online... View Details
Keywords: Carmen Nobel
  • 20 Sep 2011
  • First Look

First Look: September 20

Authors:Jakub W. Jurek and Erik Stafford Abstract This paper studies the cost of capital for alternative investments. We document that the risk profile of the aggregate hedge fund universe can be accurately matched by a simple index put option writing strategy that... View Details
Keywords: Sean Silverthorne
  • 23 Dec 2008
  • First Look

First Look: December 23, 2008

and, in particular, senior risk officers play in fifteen international banks. The research was carried out between June 2006 and June 2007, thus it offers a rare snapshot of the "calm before the storm"—the state of risk management at fifteen large players... View Details
Keywords: Martha Lagace
  • 14 Nov 2017
  • First Look

New Research and Ideas: November 14, 2017

profitability in Japan, the JPX-Nikkei400 Index was introduced in 2014. Each year the Index selected 400 large and liquid firms deemed best performing in terms of profitability; membership is considered highly prestigious. We document... View Details
Keywords: Carmen Nobel
  • 01 Oct 2013
  • First Look

First Look: October 1

also more pronounced for the insurance firms for which regulatory capital requirements are more binding. The results hold both at issuance and for trading in the secondary market and are robust to a series of bond and issuer controls, including issuer fixed effects as... View Details
Keywords: Sean Silverthorne
  • 13 Jul 2010
  • First Look

First Look: July 13

forces. We recognize the advantage of using fair values in circumstances where these are based on observable prices in liquid secondary markets, but caution against expanding fair values to financial reporting more generally. We conclude... View Details
Keywords: Martha Lagace
  • 01 Jun 2008
  • News

The Prophet of Start-Ups

said Doriot. “I look for the resourceful man.” Olsen embodied that ideal. In Doriot, Olsen found a comforting father figure always ready to offer words of encouragement or some bit of wisdom. The fates of these two men would be forever intertwined. When ARD View Details
Keywords: Spencer E. Ante; George Doriot; Charles F. Kettering; Lawrence Lowell; F. Warren Hellman; Finance; Securities, Commodities, and Other Financial Investments; Finance
  • 29 Jan 2019
  • First Look

New Research and Ideas, January 29, 2019

trust and liquidity when launching new marketplaces as well as challenges encountered as marketplaces mature (e.g., congestion and disintermediation). Purchase this case:https://hbsp.harvard.edu/product/818096-PDF-ENG Harvard Business... View Details
Keywords: Dina Gerdeman
  • 04 Jan 2012
  • First Look

First Look: January 4

need to be reformulated in light of the data, methodology, and findings presented here. Download the paper: http://www.hbs.edu/research/pdf/10-072.pdf   Cases & Course MaterialsVignette: Alternative Liquidity Options G. Felda... View Details
Keywords: Carmen Nobel
  • 01 Dec 2009
  • News

The Fab Four

looking for a business to buy when I had no money, and people didn’t really want to talk to me. But it took around ten years to sell it, which is a very long exit strategy. We could have found somebody to liquidate the business and take... View Details
Keywords: Julia Hanna; contests; Technical and Trade Schools; Educational Services; Data Processing, Hosting, and Related Services; Information; News, Library, Internet, and Other Services; Information; Fabricated Metal Product Manufacturing; Manufacturing
  • 24 Jul 2007
  • First Look

First Look: July 24, 2007

determines whether an undersea rock formation contains oil—prior to the oil company drilling a hole. With its high-growth characteristics, emgs is very different from the typical oilfield services company, and would be more suitable for floating on the NYSE or LSE,... View Details
Keywords: Martha Lagace
  • 18 Mar 2014
  • First Look

First Look: March 18

v. Van Gorkum); and the board's role and process in hiring, firing, and severance decisions (Ovitz at Disney). Purchase this case: http://hbr.org/product/these-people-are-fiduciaries/an/314067-PDF-ENG Harvard Business School Case 514-024 Coca-Cola: View Details
Keywords: Sean Silverthorne
  • 17 Dec 2013
  • First Look

First Look: December 17

complex technology. Purchase this case: http://hbr.org/search/614019-PDF-ENG Harvard Business School Case 212-045 The Long and Short of Apollo Group and the University of Phoenix (A) A hedge fund is deciding whether to liquidate its... View Details
Keywords: Carmen Nobel
  • 28 Jan 2014
  • First Look

First Look: January 28

Investment Group is deciding whether or not to recapitalize an equity investment in a Residencial Los Andes, a residential project in Santiago, Chile, or take a substantial loss. The project did not meet its sales goals, and the bank pressured the investors to View Details
Keywords: Sean Silverthorne
  • 01 Jun 2018
  • News

June 2018 Alumni and Faculty Books

Publishing The 2008 financial crisis triggered a worldwide recession. Unlike the American banking system, which experienced massive losses, takeovers, and taxpayer-funded bailouts, Canada’s banking system withstood the crisis relatively well and maintained its View Details
  • 03 Feb 2009
  • First Look

First Look: February 3, 2009

faced a liquidity crunch. Aracapita offered Islamic-compliant private equity, real estate, and venture capital products. In the wake of the 9/11 terrorist attack, however, Islamic banking was an endangered species in the U.S. Should... View Details
Keywords: Martha Lagace
  • 18 Dec 2012
  • First Look

First Look: December 18

and to avoid the larger economies of Spain and Italy becoming involved. The European financial system became strained. Banks were found to be undercapitalized and began to ration credit to the economy. The European Central Bank intervened to provide View Details
Keywords: Carmen Nobel
  • 12 Feb 2008
  • First Look

First Look: February 12, 2007

reserves and channeling them (until very recently) almost exclusively into U.S. government securities, China has kept nominal and real long-term interest rates artificially low. In our view, it is this wedge between returns on capital and the cost of capital, rather... View Details
Keywords: Martha Lagace
  • 05 Mar 2019
  • First Look

New Research and Ideas, March 5, 2019

Case 219-088 Liquidity Management No abstract available. Purchase this case:https://cb.hbsp.harvard.edu/cbmp/product/219088-PDF-ENG Harvard Business School Case 219-037 The Financial Crisis: Hank Paulson in 2008 On the afternoon of Monday... View Details
Keywords: Dina Gerdeman