• March 2004 (Revised May 2005)
• Case

Foreign Exchange Hedging Strategies at General Motors

By: Mihir A. Desai and Mark Veblen

How should a multinational firm manage foreign exchange exposures? Examines transactional, translational, and competitive exposures. Describes General Motors' corporate hedging policies, its risk management structure, and how accounting rules impact hedging decisions.... View Details

Keywords: Risk Management; Multinational Firms and Management; Currency Exchange Rate; Investment; Financial Markets; Manufacturing Industry; Auto Industry; Argentina; Japan; Canada; United States

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Desai, Mihir A., and Mark Veblen. "Foreign Exchange Hedging Strategies at General Motors." Harvard Business School Case 204-024, March 2004. (Revised May 2005.)

• February 2006 (Revised August 2006)
• Case

Auctioning Morningstar

By: Malcolm P. Baker and James Quinn

Morningstar, a publisher of data and ratings for mutual fund investors, is considering an auction-based approach to the company's upcoming IPO, with management weighing the risks and benefits of the auction approach vs. a traditional underwritten offering. View Details

Keywords: Financial Strategy; Initial Public Offering; Stock Shares; Cost vs Benefits; Strategy; Auctions; Business or Company Management; Conflict of Interests; Publishing Industry

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Baker, Malcolm P., and James Quinn. "Auctioning Morningstar." Harvard Business School Case 206-023, February 2006. (Revised August 2006.)

• January 2008
• Background Note

Valuing Risky Debt

By: Joshua Coval and Erik Stafford

This lesson develops the classical structural approach to pricing and hedging credit risk: Merton's (1974) contingent claims model of debt and equity claims. This model is used to make investment and risk management decisions in an over-the-counter (OTC) market for... View Details

Keywords: Borrowing and Debt; Credit; Investment; Price; Risk Management; Mathematical Methods; Valuation

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Coval, Joshua, and Erik Stafford. "Valuing Risky Debt." Harvard Business School Background Note 208-111, January 2008.

• Research Summary

US-China Relations

By: Meg Rithmire

Economic interdependence between the US and China was imagined years ago to be a source of security and prosperity for both countries, but is now the site of concerns about risk and national security on both sides. My work has examined how that shift has come about,... View Details

• 12 Sep 2023
• Research & Ideas

How Can Financial Advisors Thrive in Shifting Markets? Diversify, Diversify, Diversify

wealth management. The number of financial advisory firms grew 41 percent to more than 15,000 between 2015 and 2021, according to Barron’s. Every April, Dimensional Fund queries hundreds of financial advisers across the globe, who together View Details

Keywords: by Ben Rand; Financial Services

• 09 May 2011
• News

Moving From Bean Counter to Game Changer

• 01 Jan 2003
• News

• 09 Jun 2021
• News

How the Retail Workforce Has Changed for Good

• 23 Jan 2023
• Research & Ideas

After High-Profile Failures, Can Investors Still Trust Credit Ratings?

During the financial crisis of 2008, major credit rating agencies faced sharp criticism for failing to recognize and warn of the risks of emerging instruments like mortgage-backed securities. Since that time, the results of a new study... View Details

Keywords: by Ben Rand

• November 1995 (Revised April 1998)
• Case

National Insurance Corporation

The case visits the catastrophe insurance business at an interesting time in the history of the insurance markets. A major reinsurer, National Insurance, is taking a look at the new insurance derivatives being traded on the Chicago Board of Trade with a view to using... View Details

Keywords: Risk Management; Insurance; Capital Markets; Insurance Industry; United States

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Das, Sanjiv R., and Nils C. Haugestad. "National Insurance Corporation." Harvard Business School Case 296-036, November 1995. (Revised April 1998.)

• April 2022 (Revised May 2022)
• Case

Mastercard Labs (A) (Abridged)

By: Linda A. Hill, Sunil Gupta, Emily Tedards and Julia Kelley

When Ajaypal (Ajay) Banga became the CEO of Mastercard in 2010, he shifted the company’s competitive focus from card networks to cash itself. Mastercard’s new vision of a “World Beyond Cash” distilled into a three-pronged framework: Grow the core business, Diversify... View Details

Keywords: Organizational Behavior; Culture; Organizational Culture; Culture Change; Organizational Adaptation; Organizational Effectiveness; Alignment; Leadership; Leadership Development; Innovation; Innovation Ecosystems; Diversity; Collaboration; Co-creation; Learning Organizations; Empowerment; Ecosystem; Agility; Prototype; Experiment; Partnerships; Operating Model; Risk Management; Metrics; Payments; Financial Inclusion; Financial Industry; Ambidexterity; Corporate Innovation; Innovation Lab; Accelerator; Start-up; Intrapreneurship; Competitive Strategy; Business Model; Technological Innovation; Growth and Development Strategy; Digital Transformation

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Hill, Linda A., Sunil Gupta, Emily Tedards, and Julia Kelley. "Mastercard Labs (A) (Abridged)." Harvard Business School Case 422-082, April 2022. (Revised May 2022.)