Publications

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23 Sep 2008
Working Paper Summaries

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

Keywords: by Dale F. Gray, Robert C. Merton & Zvi Bodie

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2023 Reunion Presentations - Alumni

economic inequality, driving environmental destruction, and sustaining systems of racial injustice. Join Professor Debora Spar and a panel of fellow alumni for a discussion about where business and society... View Details

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Finance - Faculty & Research

Economics in 1997, to John Lintner who co-created the Capital Asset Pricing Model and made significant contributions to dividend policy , and Gordon Donaldson whose work helped shape the field of corporate finance . We strive to... View Details

2008
Working Paper

Accountability and Inequality in Single-Party Regimes: A Comparative Analysis of Vietnam and China

Over the past two decades, no two economies have averaged more rapid economic growth than China and Vietnam. But while China's income inequality has risen rapidly over that same time frame, Vietnam's has only grown moderately. Structural and socio-cultural determinants... View Details

Keywords: Income Characteristics; Economic Growth; Policy; Government and Politics; Equality and Inequality; China; Viet Nam

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

2020
Working Paper

An Executive Order Worth $100 Billion: The Impact of an Immigration Ban's Announcement on Fortune 500 Firms' Valuation

By: Dany Bahar, Prithwiraj Choudhury and Britta Glennon

On June 22, 2020, President Trump issued an Executive Order (EO) that suspended new work visas, barring nearly 200,000 foreign workers and their dependents from entering the United States and preventing American companies from hiring skilled immigrants using H-1B or L1... View Details

Keywords: Visa; Foreign Workers; Fortune 500; Immigration; Policy; System Shocks; Business Ventures; Valuation

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Topics - HBS Working Knowledge

Stagnation (12) Economic Systems (14) Economics (393) Economy (16) Education (118) Emerging Markets (14) Emotions (21) Employee Ownership (1) Employee Relationship Management... View Details

Fall 2012
Article

Foreign Entry and the Mexican Banking System, 1997-2007

By: Stephen Haber and Aldo Musacchio

What is the impact of foreign bank entry on the pricing and availability of credit in developing economies? The Mexican banking system provides a quasi-experiment to address this question because in 1997 the Mexican government radically changed the laws governing the... View Details

Keywords: Banks and Banking; Ownership; Foreign Direct Investment; Laws and Statutes; Developing Countries and Economies; Banking Industry; Mexico

Find at Harvard

February 1996 (Revised November 2003)
Case

Indianapolis: Activity-Based Costing of City Services (A)

By: Robert S. Kaplan

A new administration in the City of Indianapolis is initially determined to privatize many municipal services. Before taking this action, however, the city managers want to know the current cost of performing these services with the municipal workers. Existing... View Details

Keywords: Cost Management; Public Sector; Activity Based Costing and Management; Service Delivery; Privatization; City; Indianapolis

24 Jul 2000
Research & Ideas

Value Maximization and Stakeholder Theory

consuming their economic rents in this manner. Enlightened Stakeholder Theory Enlightened stakeholder theory is easy to explain. It can take advantage of most that stakeholder theorists offer in the way of processes and audits to measure... View Details

Keywords: by Michael C. Jensen

August 2002 (Revised February 2003)
Case

Siebel Systems: Anatomy of a Sale, Part 2

By: John A. Deighton and Das Narayandas

How does a $2 million software sale happen? This case traces efforts by Siebel Systems to sell lead management software to discount broker Quick & Reilly. The buying process is mapped out over four years. Covers in detail the last six months--from Siebel's initial... View Details

Keywords: Business Cycles; Leadership; Management Analysis, Tools, and Techniques; Marketing Strategy; Consumer Behavior; Organizational Structure; Behavior; Competition; Applications and Software; Technology Industry

March 2021 (Revised December 2023)
Case

Capitalism and the Party-State: The People's Republic of China at 70

By: Meg Rithmire and Courtney Han

In 2019, the People’s Republic of China (PRC) turned seventy-years-old and became the longest active authoritarian regime in recent history. By then, China was the world’s second largest economy by GDP (after the United States), and a high-technology industrial... View Details

Keywords: Party-state; Economic Systems; Business and Government Relations; Economy; Society; International Relations; China

18 Jun 2024
Research & Ideas

What Your Non-Binary Employees Need to Do Their Best Work

women, but rather, may identify as a mix of both genders, consider themselves somewhere in between, or decline to align with either gender. Coffman set out to understand this population better—in terms of how others perceive them and how they perceive themselves,... View Details

Keywords: by Michael Blanding

January 2002 (Revised September 2002)
Case

Corporate Renewal in America

By: Bruce R. Scott and Thomas S. Mondschean

Discusses various macroeconomic, regulatory, technological, and financial forces that led to increased corporate restructuring in the United States beginning in the mid-1980s. The U.S. financial system is often viewed as the most developed in the world and a model for... View Details

Keywords: Performance Evaluation; Corporate Governance; Macroeconomics; Economic Systems; Restructuring; Markets; Private Sector; Corporate Finance; Germany; Japan; United States

2010
Chapter

Measuring and Managing Macrofinancial Risk and Financial Stability: A New Framework

By: Dale F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details

Keywords: Financial Statements; Economy; Financial Condition; Central Banking; Management Analysis, Tools, and Techniques; Management Practices and Processes; Risk Management; Measurement and Metrics; System Shocks

2007
Working Paper

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

By: Dale F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details

Keywords: Financial Crisis; Macroeconomics; Central Banking; Risk Management