Real Exchange Rate - Publications - Faculty & Research

January 1987 (Revised November 1991)
Case

R.J. Reynolds International Financing

By: W. Carl Kester and William B. Allen

Reynolds must source a substantial portion of the financing of its Nabisco acquisition in offshore bond markets. Morgan Guaranty has proposed a yen/dollar dual currency Eurobond that could be hedged into dollars. This structure is compared to Eurodollar Bonds, Euroyen... View Details

Keywords: Acquisition; Capital Markets; Currency Exchange Rate; Credit Derivatives and Swaps; Bonds; Financing and Loans

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November 2010 (Revised July 2011)
Supplement

Oriflame S.A. (B)

By: David F. Hawkins and Karol Misztal

Exercise for recording derivative hedging transactions, accompanied by a technical note on IFRS derivative accounting. View Details

Keywords: Financial Reporting; Financial Statements; International Accounting; Currency Exchange Rate; Management Analysis, Tools, and Techniques; Risk Management; Standards; Beauty and Cosmetics Industry

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May 2006 (Revised November 2006)
Case

China: To Float or Not To Float? (F)- Alcatel and Strong Chinese Competition

By: Laura Alfaro, Rafael M. Di Tella and Ingrid Vogel

The Chinese operations of Alcatel, a global communications solution provider based in France, were faced with strong local competition and a difficult market. It remained unclear how Alcatel would be able to recover growth in the Chinese market. Initiatives were... View Details

Keywords: Currency Exchange Rate; International Relations; Growth and Development Strategy; Research and Development; Competitive Strategy; Horizontal Integration; Communications Industry; China; France; United States

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18 Oct 2004
Research & Ideas

The Bias of Wall Street Analysts

was recouped through a schedule of commission rates on stock transactions by the firm's clients. These commissions were regulated by the exchanges along with the Securities and View Details

Keywords: by Ann Cullen; Financial Services

May 2016
Supplement

2016 Update: Argentina Turns the Page

By: David E. Bell, Forest Reinhardt and Natalie Kindred

This brief case is a supplement to “Cresud and Argentina” (515-043) and “Note on Agriculture in Argentina” (515-069). Set in early 2016, it describes developments in Argentina under newly elected President Mauricio Macri, including the country’s return to international... View Details

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18 Mar 2014
First Look

First Look: March 18

the ratings. Our tests examine whether these forms of disclosure reflect firms' real efforts to combat corruption or are cheap talk. We find that the ratings are related to enforcement and monitoring,... View Details

Keywords: Sean Silverthorne

01 Jun 2011
News

Alumni Books

of how the historic merger between the Chicago Mercantile Exchange and CBOT almost didn’t happen. She details the reasons behind the derivatives market’s spectacular growth and explains how derivatives affect the lives of average... View Details

Keywords: Finance; Monetary Authorities-Central Bank; Finance; National Security and International Affairs; Government

Web

Choosing the Right Student Loan | MBA

Direct Graduate PLUS Loan. Both of these loans have fixed interest rates and several repayment options. While the maximum you can borrow in Unsubsidized Loan funds is $20,500, you may borrow up to the Cost of Attendance in Graduate PLUS... View Details

13 Apr 2010
First Look

First Look: April 13

stylized fact in empirical finance is that the spread between the yield on long-term bonds and short-term bonds forecasts positively future excess returns on bonds at varying horizons, and that the short-term nominal interest rate... View Details

Keywords: Martha Lagace

19 Mar 2013
First Look

First Look: March 19

Electronic Monitoring Authors:Di Tella, Rafael, and Ernesto Schargrodsky Publication:Journal of Political Economy Abstract We study criminal recidivism in Argentina by focusing on the re-arrest rates of two groups: individuals released... View Details

Keywords: Sean Silverthorne

15 Sep 2017
Working Paper Summaries

Debt Redemption and Reserve Accumulation

Keywords: by Laura Alfaro and Fabio Kanczuk

01 Feb 1997
News

Conversing in Cyberspace: Students and Alumni Talk Management

find that the boss isn't interested in their suggestions? These are very real questions for anyone making the transition from functional to general manager. Last October, in Professor David A. Garvin's elective course General Management:... View Details

Keywords: Daniel Penrice

17 Jul 2009
Research Event

Business Summit: Ethics in Globalization

Mossavar-Rahmani Center for Business and GovernmentMichael Oxley, Of Counsel, Baker HostetlerDaniel Vasella, Chairman & CEO, Novartis Drawing upon learnings from their work and experiences, the panelists and moderator exchanged views... View Details

Keywords: Re: Rafael M. Di Tella

29 Sep 2009
First Look

First Look: September 29

political integration. In particular, they appreciated that European capital market integration could reinforce the case for British membership of the EEC. The resurrection of London as Europe's principal financial center, even at a time of economic and View Details

Keywords: Martha Lagace

02 Sep 2015
Research & Ideas

Explaining China's Crash

the stock market. The real money is in the property market; a drop in values of real estate would have more far-reaching consequences. In terms of global spillovers, the recovery in most developed markets... View Details

Keywords: by Christina Pazzanese; Financial Services

01 Jun 1998
News

Excitement Building for HBS Global Conference in Chicago

established companies and examine how emerging growth firms are developing competitive products and strategies for the global marketplace. Over a dozen presentations and panel discussions on topics such as entrepreneurial marketing, high-tech product development,... View Details

October 2008
Teaching Note

Samoa Tala (TN)

By: Joshua D. Coval, Bhagwan Chowdhry and Konark Saxena

Teaching Note for [209053]. View Details

Keywords: Currency Exchange Rate; Risk Management; Credit Derivatives and Swaps; Microfinance; Strategy; Borrowing and Debt; Currency; Cash Flow; Samoa

Citation

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12 Dec 2017
First Look

New Research and Ideas, December 12, 2017

https://www.hbs.edu/faculty/Pages/item.aspx?num=53587 The Real Exchange Rate, Innovation and Productivity By: Alfaro, Laura, Alejandro Cuñat, Harald Fadinger, and Yanping Liu Abstract—We evaluate... View Details

Keywords: Sean Silverthorne

Web

Training Course in Personnel Administration - Business Education For Women At Harvard University | Harvard Business School

The curricula included economics, sociology, guidance, government, and educational psychology. 142, 139, 185 Edith Stedman, a director of Radcliffe's Career Appointment Bureau, served as a vigorous supporter and first director of the Training Course. "At that time,... View Details

February 2000 (Revised March 2001)
Case

Alphatec Electronics Pcl

By: Stuart C. Gilson, C. Fritz Foley and Perry Fagan

The newly appointed CEO of an important high-technology company in Thailand must lead the company through a complicated debt restructuring. Due to the collapse of the Thai currency, the company's debt burden, like that of most Thai companies, has skyrocketed because it... View Details