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  • February 2019 (Revised January 2020)
  • Teaching Note

Renegotiating NAFTA

By: Laura Alfaro and Sarah Jeong
On January 16, 2020, the Senate passed a landmark trade deal that would replace the 26-year-old North American Free Trade Agreement (NAFTA). Until the United States-Mexico-Canada Agreement (USMCA) was signed, considerable debate had surrounded it. The new agreement... View Details
Keywords: NAFTA; Trade; Agreements and Arrangements; Policy; Cost vs Benefits; North America
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Alfaro, Laura, and Sarah Jeong. "Renegotiating NAFTA." Harvard Business School Teaching Note 319-096, February 2019. (Revised January 2020.)
  • April 2007 (Revised April 2008)
  • Case

Corrections Corporation of America

This case illustrates a comprehensive valuation of a publicly traded firm specializing in building and managing prisons. Students must assess the firm's strategy and risks, evaluate key financial reports, derive forecasts of future performance, and use these forecasts... View Details
Keywords: Financial Statements; Buildings and Facilities; For-Profit Firms; Crime and Corruption; Forecasting and Prediction; Risk Management; Valuation; Construction Industry; Public Administration Industry; Service Industry
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Riedl, Edward J. "Corrections Corporation of America." Harvard Business School Case 107-071, April 2007. (Revised April 2008.)
  • Summer 2023
  • Article

(Un)principled Agents: Monitoring Loyalty after the End of the Royal African Company Monopoly

By: Anne Ruderman and Marlous van Waijenburg
The revocation of the Royal African Company's monopoly in 1698 inaugurated a transformation of the transatlantic slave trade. While the RAC’s exit from the slave trade has received scholarly attention, little is known about the company’s response to the loss of its... View Details
Keywords: Slavery; Organizational Change and Adaptation; Business History; Monopoly; History; Business and Government Relations
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Ruderman, Anne, and Marlous van Waijenburg. "(Un)principled Agents: Monitoring Loyalty after the End of the Royal African Company Monopoly." Special Issue on Business, Capitalism, and Slavery edited by Marlous van Waijenburg and Anne Ruderman. Business History Review 97, no. 2 (Summer 2023): 247–281.
  • July 2021
  • Article

Augmenting Markets with Mechanisms

By: Samuel Antill and Darrell Duffie
We explain how the common practice of size-discovery trade detracts from overall financial market efficiency. At each of a series of size-discovery sessions, traders report their desired trades, generating allocations of the asset and cash that rely on the most recent... View Details
Keywords: Mechanism Design; Price Impact; Size Discovery; Allocative Efficiency; Workup; Dark Pool; Financial Markets; Market Design; Performance Efficiency
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Antill, Samuel, and Darrell Duffie. "Augmenting Markets with Mechanisms." Review of Economic Studies 88, no. 4 (July 2021): 1665–1719.
  • October 2023
  • Case

Taiwan After Globalization: Twilight of the Developmental State?

By: Debora L. Spar and Julia M. Comeau
In the last 70 years, the small island of Taiwan has achieved what many believe to be a “miracle”: its economy has grown at a record-setting pace, driven and guided by one of the world's most successful set of industrial policies, and it has become one of the richest... View Details
Keywords: Economic Growth; Economic Slowdown and Stagnation; Trade; Policy; Government and Politics; Semiconductor Industry; Technology Industry; Taiwan; China; Asia; United States
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Spar, Debora L., and Julia M. Comeau. "Taiwan After Globalization: Twilight of the Developmental State?" Harvard Business School Case 324-032, October 2023.
  • April 2010 (Revised May 2017)
  • Case

Tremblant Capital Group

By: Robin Greenwood
Brett Barakett, CEO and founder of Tremblant Capital Group, a New York–based hedge fund, must decide what to do with his fund's position in Green Mountain Coffee Roasters, which has dropped in value by more than 40% in recent months. Tremblant is a hedge fund that... View Details
Keywords: Business Earnings; Behavioral Finance; Stocks; Investment Funds; Consumer Behavior; Competitive Advantage; Financial Services Industry; New York (city, NY)
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Greenwood, Robin. "Tremblant Capital Group." Harvard Business School Case 210-071, April 2010. (Revised May 2017.)
  • 10 Jun 2022
  • News

Lessons From Henry Ford About Today’s Supply Chain Mess

  • 21 Jun 2017
  • News

Are Activists Being Sabotaged by Their Brokers?

  • September 1994
  • Case

Leadership Problems at Salomon (A)

By: Lynn S. Paine and Michael Santoro
Deryck Maughan, a vice chairman and co-head of investment banking at Salomon Brothers, learns that his superiors have been less than candid about their knowledge of bidding improprieties by the firm's government trading desk. He must decide what, if anything, he should... View Details
Keywords: Leadership; Decision Choices and Conditions; Ethics; Moral Sensibility; Values and Beliefs; Crime and Corruption; Rank and Position; Financial Services Industry
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Paine, Lynn S., and Michael Santoro. "Leadership Problems at Salomon (A)." Harvard Business School Case 395-044, September 1994.
  • 01 Jun 2021
  • News

How the World Ran Out of Everything

  • 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
Keywords: Debt Securities; Mortgages; Investment Funds
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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.)
  • March 2005
  • Case

Chicago Board Options Exchange (CBOE), The

By: George C. Chacko, Anders Sjoman, Daniela Beyersdorfer and George Robert Nelson
The Chicago Board Options Exchange (CBEO) must decide how to respond to new competition in the market for financial options. Options have typically been a very liquid asset class, despite the fact that many single-name options are listed on the CBOE, the second largest... View Details
Keywords: Internet and the Web; Financial Liquidity; Financial Markets; Financial Services Industry; Chicago
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Chacko, George C., Anders Sjoman, Daniela Beyersdorfer, and George Robert Nelson. "Chicago Board Options Exchange (CBOE), The." Harvard Business School Case 205-073, March 2005.
  • February 2010
  • Case

Saginaw Parts Co. and the General Motors Corp. Credit Default Swap

By: William E. Fruhan
This two-page case demonstrates how to unbundle the cost of credit extensions from product prices by observing the price of a credit default swap. It also explores how credit default swaps work, and how trade creditors are treated under U.S. bankruptcy law. Finally it... View Details
Keywords: Trade; Credit; Insolvency and Bankruptcy; Credit Derivatives and Swaps; Laws and Statutes; Risk Management; Auto Industry; United States
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Fruhan, William E. "Saginaw Parts Co. and the General Motors Corp. Credit Default Swap." Harvard Business School Case 210-056, February 2010.
  • April 1984
  • Background Note

Export Controls

By: David B. Yoffie
Explores the problems and opportunities associated with export controls--one of the most widely used tools of international trade policy in the 1970s and early 1980s; and the role of the United States and Soviet Union as major players in the international economy.... View Details
Keywords: Macroeconomics; Trade; Governing Rules, Regulations, and Reforms; Policy; Problems and Challenges; Opportunities; Soviet Union; United States
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Yoffie, David B. "Export Controls." Harvard Business School Background Note 384-008, April 1984.
  • 2015
  • Working Paper

Collateral Shortages and Intermediation Networks

By: Marco Di Maggio and Alireza Tahbaz-Salehi
This paper argues that in the presence of trading frictions and agency problems, the interbank market may be overly fragile, in the sense that small changes in the liquidity of assets used as collateral may lead to large swings in haircuts and a potential credit... View Details
Keywords: Financial Intermediation; Financial Networks; Secured Lending; Collateral; Repo Runs; ABCP Collapse; Networks; Negotiation; Financing and Loans; Financial Crisis
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Di Maggio, Marco, and Alireza Tahbaz-Salehi. "Collateral Shortages and Intermediation Networks." Working Paper, November 2015. (Revise and Resubmit to The Review of Financial Studies.)
  • June 2017
  • Case

Maggie Wilderotter: The Evolution of an Executive

By: Boris Groysberg, Sarah L. Abbott and Robin Abrahams
In a career that spanned over 30 years, Maggie Wilderotter served as CEO of two publicly traded companies and served on 32 corporate and 9 association and nonprofit boards of directors. As CEO of Frontier Communications, a U.S. telecom company with over $25 billion in... View Details
Keywords: Leadership; Managing People; Networks; Strategy And Leadership; Personal Development and Career; Personal Characteristics; Leadership Style; Social and Collaborative Networks; Gender; Power and Influence; Telecommunications Industry; United States
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Groysberg, Boris, Sarah L. Abbott, and Robin Abrahams. "Maggie Wilderotter: The Evolution of an Executive." Harvard Business School Case 417-091, June 2017.

    Laura Alfaro

    Laura Alfaro is the Warren Alpert Professor of Business Administration. At Harvard since 1999, she served as Minister of National Planning and Economic Policy in Costa Rica from 2010-2012, taking a leave from HBS. She is Co-Editor of the Journal of International... View Details

    • February 2007 (Revised February 2007)
    • Module Note

    The International Financial Architecture

    By: Rawi E. Abdelal
    The International Financial Architecture is one of the core modules of Managing International Trade and Investment, an elective course at Harvard Business School. Provides instructors with an overview of the module, the cases and readings, and the teaching notes. View Details
    Keywords: International Finance
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    Abdelal, Rawi E. "The International Financial Architecture." Harvard Business School Module Note 707-035, February 2007. (Revised February 2007.)
    • April 2006
    • Background Note

    Legal Aspects of Management: Increasing and Capturing the Value of Knowledge Assets

    Describes the third module of the Harvard Business School MBA second-year elective course Legal Aspects of Management. This module deals with the way in which intellectual property rights--as protected by patents, copyrights, trademarks, and trade secrets--enable firms... View Details
    Keywords: Rights; Patents; Competitive Advantage; Trademarks; Copyright
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    Bagley, Constance E. "Legal Aspects of Management: Increasing and Capturing the Value of Knowledge Assets." Harvard Business School Background Note 806-137, April 2006.
    • 09 Dec 2021
    • News

    How the Supply Chain Upheaval Became a Life-or-Death Threat

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