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Show Results For
- All HBS Web
(10,655)
- People (35)
- News (2,500)
- Research (6,210)
- Events (31)
- Multimedia (136)
- Faculty Publications (4,696)
- 2012
- Working Paper
Issuer Quality and Corporate Bond Returns
By: Robin Greenwood and Samuel G. Hanson
We show that the credit quality of corporate debt issuers deteriorates during credit booms, and that this deterioration forecasts low excess returns to corporate bondholders. The key insight is that changes in the pricing of credit risk disproportionately affect the... View Details
Keywords: Price; Credit; Risk and Uncertainty; Investment Return; Forecasting and Prediction; Bonds; Market Design; Cost of Capital; Mathematical Methods; System Shocks
Greenwood, Robin, and Samuel G. Hanson. "Issuer Quality and Corporate Bond Returns." Harvard Business School Working Paper, No. 11-065, January 2011. (Revised September 2012, Internet Appendix Here.)
- March 2009
- Supplement
Groupe Eurotunnel S.A. (B): Restructuring Under the Procedure de Sauvegarde
By: Stuart C. Gilson, Vincent Marie Dessain and Sarah Abbott
In mid-2007 the chairman and CEO of Eurotunnel Group, having elected to file for bankruptcy under a newly-enacted French insolvency law, awaits the outcome of a vote by creditors and shareholders. At least 50% of the shareholders must approve the plan, however they... View Details
Keywords: Restructuring; Capital Structure; Insolvency and Bankruptcy; Law; Valuation; Assets; Investment Funds; Voting; Business and Shareholder Relations; Ownership; Outcome or Result; France
Gilson, Stuart C., Vincent Marie Dessain, and Sarah Abbott. "Groupe Eurotunnel S.A. (B): Restructuring Under the Procedure de Sauvegarde." Harvard Business School Supplement 209-113, March 2009.
- June 2008
- Teaching Note
Transparent Value LLC (TN)
By: Sharon P. Katz and Krishna G. Palepu
Teaching Note for [108098]. View Details
- March 2005
- Article
Short- and Long-term Demand Curves for Stocks: Theory and Evidence on the Dynamics of Arbitrage
By: Robin Greenwood
I develop a framework to analyze demand curves for multiple risky securities at extended horizons in a setting with limits-to-arbitrage. Following an unexpected change in uninformed investor demand for several assets, I predict returns of each security to be... View Details
Keywords: Limits To Arbitrage; Event Studies; Demand Curves; Portfolio Choice; Framework; Demand and Consumers; Change; Risk and Uncertainty; Debt Securities; Forecasting and Prediction; Stocks; Assets; Investment Portfolio; System Shocks; Price; Japan
Greenwood, Robin. "Short- and Long-term Demand Curves for Stocks: Theory and Evidence on the Dynamics of Arbitrage." Journal of Financial Economics 75, no. 3 (March 2005): 607–649.
- 15 Jun 2016
- Research & Ideas
These VC Partners May Make Your Firm Less Innovative
much-needed cash but also expertise and advice. In a perfect world, everyone benefits. The VC firm takes an equity stake and makes money when the company succeeds, rewarding limited partners who have invested in the VC firm. But what... View Details
- May 2018
- Article
U.S. Treasury Premium
By: Wenxin Du, Joanne Im and Jesse Schreger
We quantify the difference in the convenience yield of U.S. Treasuries and government bonds of other developed countries by measuring the deviation from covered interest parity between government bond yields. We call this wedge the “U.S. Treasury Premium.” We document... View Details
Du, Wenxin, Joanne Im, and Jesse Schreger. "U.S. Treasury Premium." Journal of International Economics 112 (May 2018): 167–181.
- September 2024
- Article
Activist Directors: Determinants and Consequences
By: Ian D. Gow, Sa-Pyung Sean Shin and Suraj Srinivasan
This paper examines determinants and consequences of hedge fund activism, focusing on activist directors, i.e., directors appointed in response to activist demands. Using a sample of 3,259 activism events from 2004 to 2016, we identify 1,623 activist directors.... View Details
Gow, Ian D., Sa-Pyung Sean Shin, and Suraj Srinivasan. "Activist Directors: Determinants and Consequences." Review of Accounting Studies 29, no. 3 (September 2024): 2578–2616.
- September 1984 (Revised July 2005)
- Case
Higgins v. Commissioner
By: Henry B. Reiling
Discusses the issue of whether an activity is a trade or business. The Court held that the taxpayer's very substantial stock and bond portfolio management activities were not a trade or business, whereas the taxpayer's real estate activities did constitute a trade or... View Details
Reiling, Henry B. "Higgins v. Commissioner." Harvard Business School Case 285-008, September 1984. (Revised July 2005.)
- July 2008 (Revised August 2008)
- Supplement
Fidelity Investments' Charitable Gift Fund (B)
By: Robert C. Pozen
The (B) case informs students of Fidelity's decision about pursuing a business process patent for its charitable gift fund and describes subsequent litigation and lawsuits filed by other companies over business process patent issues. View Details
Pozen, Robert C. "Fidelity Investments' Charitable Gift Fund (B)." Harvard Business School Supplement 309-003, July 2008. (Revised August 2008.)
- May 2005 (Revised January 2006)
- Case
Mortgage Backs at Ticonderoga
Ticonderoga is a small hedge fund that trades in mortgage-backed securities--securities created from pooled mortgage loans. They often appear as straightforward so-called "pass-throughs," but can also be pooled again to create collateral for a mortgage security known... View Details
Chacko, George C., Peter A. Hecht, Vincent Dessain, and Anders Sjoman. "Mortgage Backs at Ticonderoga." Harvard Business School Case 205-122, May 2005. (Revised January 2006.)
- July 2002 (Revised August 2002)
- Supplement
Australia-Japan Cable: Structuring the Project Company
By: Benjamin C. Esty
Spreadsheet to (9-203-024). Download only. View Details
- Profile
Kayode Ogunro
"The chapter that struck me was on VCPE in emerging markets," says Kayode. "I realized that this was the way to bridge the gap between small-scale angel investing and large-scale equity markets." Kayode, whose parents... View Details
- February 2020
- Case
Rotoplas: Bringing More and Better Water
By: John D. Macomber and Carla Larangeira
Private companies were being turned to for potable water in the world’s megacities due to impacts of climate change including droughts and flooding. Mexico City had endured several water-related crises, with its population suffering from floods, droughts, water... View Details
Keywords: Water Supply; Water Management; Finance; Infrastructure; Urban Development; Business and Government Relations; Latin America; Mexico
Macomber, John D., and Carla Larangeira. "Rotoplas: Bringing More and Better Water." Harvard Business School Case 220-064, February 2020.
- 22 May 2018
- First Look
New Research and Ideas, May 22, 2018
strong beliefs in the meaning of their work experience better performance. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=54523 Negotiating a Better Future: How Interpersonal Skills Facilitate Inter-Generational View Details
Keywords: Dina Gerdeman
- 19 Jul 2019
- News
Building an Ecosystem for African Entrepreneurs
The philosophy of “Africapitalism” has guided Tony Elumelu’s (AMP 166, 2004) business career. The chairman of United Bank of Africa coined the term to describe the type of community-focused investments made by Heirs Holdings, where he is... View Details
- 24 Apr 2014
- News
Leading in the face of complex challenges
John B. Hess (AB 1975, MBA 1977), CEO of Hess Corporation and chair of The Harvard Business School Campaign, is working to ensure the School continues to educate the leaders who will help solve the world’s most pressing and complex challenges. “I believe that an View Details
- 13 Jul 2020
- News
Locally Grown
climate change, I couldn’t justify the carbon footprint of getting on an airplane every week,” Fenwick-Smith recalls. Aravaipa was also an open-ended fund, in part because Fenwick-Smith was uncertain about the interest in initial View Details
Keywords: April White
- Web
Baker Old Class Collection | Baker Library | Bloomberg Center | Harvard Business School
Introduction 1840s – 1880s General Merchants to Commodities Brokers 1880s – 1920s Investment Banking & Securities Underwriting 1920s – 1960s Investing in Emerging Industries 1850–1968 Lehman Brothers Family... View Details
- 10 May 2017
- Research & Ideas
Amazon Web Services Changed the Way VCs Fund Startups
to recent research. Enter the era of “spray and pray,” where venture firms over the last decade have seeded more firms than previously, but with less upfront investment of time and money. As someone who teaches entrepreneurial finance,... View Details
- 01 Dec 2002
- News
Mary Callahan Erdoes
Considered one of Wall Street's most influential young executives, Mary Callahan Erdoes (MBA '93) has gained that stature by working hard at what she has always loved. “My father was an investment banker, and I think my interest in... View Details
Keywords: Deborah Blagg