Asset Pricing - Publications - Faculty & Research

26 Jun 2018
First Look

New Research and Ideas, June 26, 2018

https://www.hbs.edu/faculty/Pages/item.aspx?num=54634 forthcoming Journal of Finance Limited Investment Capital and Credit Spreads By: Siriwardane, Emil N. Abstract—Using proprietary credit default swap (CDS) data, I investigate how capital shocks at protection sellers... View Details

Keywords: Dina Gerdeman

02 Sep 2008
First Look

First Look: September 3, 2008

Rotemberg Abstract A model is developed where firms in a financial system have to settle their debts to each other by using a liquid asset. The question that is studied is how many firms must obtain how much of this asset from outside the... View Details

Keywords: Sean Silverthorne

31 Jul 2018
First Look

New Research and Ideas, July 31, 2018

classical economic model and discussing extensions of the classical model and explanations grounded in behavioral economics that can account for the observed patterns. This part covers five topics: consumption and savings, borrowing, payments, View Details

Keywords: Dina Gerdeman

13 Oct 2010
Research & Ideas

How Government can Discourage Private Sector Reliance on Short-Term Debt

institutions instead, which the industry churned out en masse. One result: many financial institutions placed not only themselves, but the broader financial system, at risk. When a financial institution can no longer repay its debts, it may have to sell View Details

Keywords: by Staff; Financial Services

19 Apr 2016
First Look

April 19, 2016

borrowers likely involve fewer monitoring tools and weaker control rights. We evaluate these explanations of cov-lite contract provisions in a large sample of U.S. loans for the 2001–2014 period. Consistent with creditor-driven explanations for cov-lite issuance, we... View Details

Keywords: Sean Silverthorne

15 Feb 2017
Op-Ed

What Africa Can Teach the United States About Funding Infrastructure Projects

issued by the African Development Bank or by a nation, an investor can put his or her money behind a specific asset or piece of an asset. Think of mutual fund pricing and tracking: if Fidelity and Vanguard... View Details

Keywords: by John Macomber; Construction

12 Mar 2018
Op-Ed

Op-Ed: Why BlackRock CEO Larry Fink Is Not a Socialist

capitalists. He cofounded BlackRock in 1988 and has grown it into the world’s largest money manager with more than $6 trillion in assets under management. Yet many other fund managers, private equity executives, and activist investors... View Details

Keywords: by Bill George; Banking

25 Apr 2014
Research & Ideas

To Pay or Not to Pay: Argentina and the International Debt Market

compared to consensual sovereign bond restructurings. A few holdout investors refused to concede and sued. These so-called "vulture" investors, hedge funds that bought the defaulted loans at deeply reduced prices and then sued... View Details

Keywords: by Laura Alfaro

02 Oct 2007
First Look

First Look: October 2, 2007

America Harvard Business School Case 908-004 Describes the auction of Cable & Wireless America (CWA), a bankrupt subsidiary of the British telecommunications company Cable & Wireless. While an initial "stalking-horse" bid valued the View Details

Keywords: Martha Lagace

01 Mar 2010
News

Sole Mates

disgusted by corruption. They worry about school fees, the price of rice, the cost of fuel, and the crime rate. For me personally, Liberia is an enjoyable place. Health care is a little scary: The X-ray machine at the major hospital... View Details

Keywords: Garry Emmons; Forestry and Logging; Agriculture; Monetary Authorities-Central Bank; Finance; Administration of Environmental Quality Programs; Government

26 Nov 2007
Research & Ideas

Best Practices of Global Innovators

related to the possession of deep individual technical skills in hundreds of diverse disciplines," the researchers conclude in their paper, Innovation through Global Collaboration: A New Source of Competitive Advantage. "Boeing's unique View Details

Keywords: by Sean Silverthorne

22 Sep 2014
Op-Ed

Online Banks Fill Funding Needs for Small Business

scale, these alternative players have the potential to fundamentally change the way in which small businesses access capital, creating greater competition, price transparency, and a better customer experience. Emerging online players are... View Details

Keywords: by Karen Mills; Banking; Financial Services

30 Jun 2015
First Look

First Look: June 30, 2015

2000s, a period during which Treasury bonds enabled investors to hedge macroeconomic risks. This paper develops a New Keynesian macroeconomic model with habit formation preferences that prices both bonds and stocks. The model attributes... View Details

Keywords: Carmen Nobel

01 Jun 2014
News

Screen Saver

AMC stock at its opening price of $18 a share. (The company's employees were given the same deal.) The articles that reported this news also wondered if AMC was a good investment, given the rise of online movie viewing and home... View Details

Keywords: Julia Hanna; Arts, Entertainment

03 May 2013
News

Looking Through Glass, Historically

described in terms meaningful to this market through the company's first direct-to-the-consumer advertising. Production runs were lengthened and inventory simplified. Glass decoration was all but eliminated and, like Ford's Model-T, color was, too. Most important, with... View Details

Keywords: Visual arts; crafts; glass making; Miscellaneous Manufacturing; Manufacturing

10 Jan 2018
Research & Ideas

Working for a Shamed Company Can Hurt Your Future Compensation

that employer’s name on their curriculum vitae? “You have this great name on your CV, and suddenly it goes from being an asset to a liability,” says George Serafeim, the Jakurski Family Associate Professor of Business Administration at... View Details

Keywords: by Michael Blanding; Financial Services

February 2018 (Revised August 2018)
Case

Blue Haven Initiative: The PEGAfrica Investment

By: Vikram S. Gandhi, Caitlin Reimers Brumme and Amram Migdal

This case examines Blue Haven Initiative (BHI), an impact investing fund and family office, and one of its investments, PEGAfrica (PEG). BHI founder Liesel Pritzker Simmons’ motivations for using her family wealth to start a family office focused on impact investing,... View Details

Keywords: Impact Investing; Family Office; Development; International Development; International Development Investing; Development Fund; Sustainability; Solar Energy; Solar; Pay As You Go; PAYG; MFI; Social Venture; Business Ventures; Acquisition; Business Growth and Maturation; Business Startups; Economics; Development Economics; Energy; Energy Conservation; Energy Sources; Renewable Energy; Social Entrepreneurship; Finance; Assets; Asset Pricing; Capital; Capital Budgeting; Capital Structure; Venture Capital; Cash; Cash Flow; Currency; Currency Exchange Rate; Equity; Private Equity; Financial Instruments; Debt Securities; Stock Shares; Financing and Loans; Microfinance; International Finance; Investment; Investment Return; Investment Activism; Investment Funds; Investment Portfolio; Price; Geography; Geographic Location; Emerging Markets; Ownership; Ownership Stake; Private Ownership; Social Enterprise; Value; Valuation; Value Creation; Energy Industry; Financial Services Industry; Green Technology Industry; Africa; United States

Citation

Educators

Purchase

30 Jul 2013
First Look

First Look: July 30

https://archive.harvardbusiness.org/cla/web/pl/product.seam?c=25120&i=25122&cs=0b17ff7f3d16c64e4a6b72b71b876054 2013 pub Information and Subsidies: Complements or Substitutes? By: Ashraf, Nava, B. Kelsey Jack, and Emir Kamenica Abstract—Does providing... View Details

Keywords: Anna Secino

09 Jun 2009
First Look

First Look: June 9

potential approaches to establishing evidence of social influence in partially endogenous networks, and they may be especially persuasive in combination. Download the paper: http://www.hbs.edu/research/pdf/09-136.pdf Technology Innovation and Diffusion as Sources of... View Details