Publications
Publications
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- All HBS Web
(4,400)
- Faculty Publications (1,024)
- November 2008
- Journal Article
Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises
By: Mihir A. Desai, C. Fritz Foley and Kristin Forbes
This paper examines how financial constraints and product market exposures determine the response of multinational and local firms to sharp depreciations. U.S. multinational affiliates increase sales, assets, and investment significantly more than local firms during,... View Details
- 31 Oct 2008
- Conference Presentation
A Design-Centric View of the Economy (and the Financial Crisis)
- October 2008
- Case
Financial Crisis in Asia: 1997-1998 (Abridged)
By: Huw Pill, Rafael M. Di Tella and Jonathan Schlefer
What caused the 1997-98 Asia Crisis: Asian nations' poor economic management, international financial contagion, close "crony" relations between local politicians and capitalists? This case examines how the crisis erupted in Thailand and spread in a chain of events... View Details
- October 2008 (Revised August 2010)
- Background Note
Understanding the Credit Crisis of 2007 to 2008
By: Arthur I Segel and Ben Creo
This note details the background of the credit crisis, discusses potential causes of it, and considers its ramifications. The exhibits contain a variety of pertinent data regarding the rise of securitization, debt levels, and typical aspects of financial crises. A new... View Details
- October 2008 (Revised June 2010)
- Case
Executive Pay and the Credit Crisis of 2008 (A)
By: V.G. Narayanan, Fabrizio Ferri and Lisa Brem
The credit crisis of 2008 placed compensation practices at publicly traded firms in the United States under scrutiny. This case examines perceived excessive pay and severance packages at several firms implicated in the credit crisis of 2008, the executive compensation... View Details
- October 2008 (Revised October 2009)
- Case
New Century Financial Corporation
By: Krishna G. Palepu, Suraj Srinivasan and Aldo Sesia
After years of rapid growth and stock price appreciation, New Century Financial Corporation, one of the largest subprime loan originators in the U.S., reported accounting problems in early 2007. The resulting liquidity crisis forced the company to file for Chapter 11... View Details
- 12 Oct 2008 - 15 Oct 2008
- Conference Presentation
A Design-Centric View of the Economy (and the Financial Crisis)
- October 2008 (Revised August 2009)
- Case
Subprime Crisis and Fair-Value Accounting
This case examines the challenges in implementing fair value accounting for mortgage instruments, the role of accounting in the sub-prime crisis, and proposals for revising accounting standards given the crisis. View Details
- 2008
- Working Paper
The Decentering of the Global Firm
By: Mihir A. Desai
This paper describes recent changes in the relationship between firms and nation states. Firms are typically linked to the nation in which they began and are considered to have fixed national identities. While firms have reallocated various activities around the world... View Details
- September 2008 (Revised September 2011)
- Background Note
Note: Credit Rating Agencies
The note examines the role of credit rating agencies in capital markets, with emphasis on the role of these agencies in the recent credit crisis and recommendations for change. View Details
- September 2008
- Article
Does Innovation Cause Stock Market Runups? Evidence from the Great Crash
By: Tom Nicholas
This article examines the stock market's changing valuation of corporate patentable assets between 1910 and 1939. It shows that the value of knowledge capital increased significantly during the 1920s compared to the 1910s as investors responded to the quality of... View Details
- Article
MIT Roundtable on Corporate Risk Management
By: Robert C. Merton
Against the backdrop of financial crisis, a distinguished group of academics and practitioners discusses the contribution of financial management and innovation to corporate growth and value, along with the pitfalls and unintended consequences of such innovation.... View Details
- August 2008 (Revised July 2009)
- Supplement
Gazprom (C): The Ukrainian Crisis and Its Aftermath
By: Rawi E. Abdelal, Sogomon Tarontsi and Alexander Jorov
The case describes the resolution to the January 2006 gas crisis, precipitated by the decision of Gazprom, the largest natural gas producer in the world, to cut off gas supply to Ukraine because of disagreement on the terms of future trade. The case also narrates the... View Details
- 2008
- 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
- July 2008 (Revised July 2020)
- Case
Managing a Global Team: Greg James at Sun Microsystems, Inc. (A)
By: Tsedal Neeley and Thomas J. DeLong
Greg James, a global manager at Sun Microsystems, Inc., sets out to meet with his entire 43-member customer implementation team spread across India, France, the United Arab Emirates, and the United States of America to resolve a dire customer system outage as required... View Details
- April 2008
- Case
TerraCog Global Positioning Systems: Conflict and Communication on Project Aerial
By: Michael Beer and Sunru Yong
TerraCog, a successful privately held high-tech firm that develops GPS (global positioning system) and similar products for consumer markets, has recently been caught off-guard by a competitor's new product that makes novel use of satellite imagery. When TerraCog... View Details
Keywords: Organizational Behavior; Meetings; Decision Making; Group Dynamics; Human Resource Management; Conflict; Information Technology; Leadership; Conflict Management; Competition; Groups and Teams; Organizational Culture; Human Resources; Communication; Decision Choices and Conditions; Crisis Management; Technology Industry
- April 2008 (Revised December 2008)
- Case
Leveraged Loans 2007
By: Andre F. Perold and Erik Stafford
The leveraged loan market was in a crisis during the summer of 2007, following many years of low realized volatility (less than 4% per annum), an index of leveraged loans had fallen over 5% in the month of July. A sudden drop in capital market prices for an asset class... View Details
- March 2008 (Revised July 2009)
- Case
U.S. Subprime Mortgage Crisis: Policy Reactions (A)
By: Laura Alfaro and Renee Kim
By March 2008, the U.S. Government and the U.S. Federal Reserve Board had taken various policy measures over the last few months to tackle the subprime mortgage crisis that threatened to drag the economy into a recession. The Bush administration approved a fiscal... View Details
- March 2008 (Revised March 2010)
- Module Note
Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture
By: Laura Alfaro
This module note presents a series of case studies taught in the Harvard Business School course Institutions, Macroeconomics, and the Global Economy (IMaGE). The course addresses the opportunities created by the emergence of a global economy and proposes strategies for... View Details
- February 2008 (Revised April 2009)
- Case
Citigroup: Re-Branding in 2007 (A)
By: Rohit Deshpandé and Carin-Isabel Knoop
With its history of growth through acquisition, Citigroup has a conglomeration of sub-brands that need to be integrated and rationalized. Ajay Banga, CEO of Citi's Global Consumer Group International, chairs a task force to work through the process of re-branding the... View Details