Publications

01 Oct 1999
News

Dateline Belgrade

breakthrough memorandum while riding out a NATO bombing raid in a Belgrade bunker, the Financial Times (June 14, 1999) asserted that Castenfelt was instrumental "in convincing the Yugoslav leadership of the need to end the war."... View Details

Walter C. Teagle

international arena, acquiring operations in Iran and Venezuela. He was also instrumental in expanding the company’s presence in the petrochemistry field. All of these endeavors led Standard Oil’s market share to grow from 2% to 11.5%,... View Details

Keywords: Utilities & Energy

James R. Moffett

In 1981, Moffett orchestrated one of the largest and most profitable mergers in Wall Street history – the merger of his oil exploration company, McMoRan Oil and Gas Company, with Freeport Minerals Corporation – creating a $4 billion enterprise. A geologist by training,... View Details

Keywords: Agriculture & Mining

Mills B. Lane, Jr.

accounts. He was recognized by the Journal of Marketing as a pioneer in bank promotions. Beyond expanding the base of the bank, Lane was instrumental in building Atlanta’s cultural and commercial infrastructure after the Second World War. View Details

Keywords: Finance

James L. Kraft

Kraft created a multi-million dollar processed food supply company. He was instrumental in perfecting the method of preserving cheese, so that it could be stored for a longer period of time in any climate. Consumption of cheese in America... View Details

Keywords: Food & Tobacco

Amory Houghton, Jr.

biotechnology, medical instruments and fiber optics, which were somewhat young, risky ventures at the time, but now form the profitable core of Corning’s business. Houghton’s strategic vision brought Corning out of several years of... View Details

Keywords: Fabricated Goods

July 1994 (Revised September 1995)
Case

Cougars

By: Scott P. Mason and Mihir A. Desai

Provides an introduction to zero coupon bonds and stripping coupon bonds. Concerns the relationship between the spot curve, the strip curve, and the coupon curve. View Details

Keywords: Bonds; Relationships

June 1991
Teaching Note

Nomura Securities Co. Ltd. (A), Teaching Note

By: Samuel L. Hayes III

Keywords: Debt Securities

Article

Dividend Decisions and Earnings

By: Paul M. Healy and Franco Modigliani

Keywords: Stocks; Finance

March 1991 (Revised May 1991)
Case

New York Life Insurance Co.: Pension Department

By: Robert J. Dolan

Analyzes competition in the pension fund industry. In particular, New York Life must decide whether to compete head-to-head with mutual fund giants by offering record-keeping services or to just continue to focus on selling investment products. Presents the results of... View Details

Keywords: Competition; Financial Instruments; Insurance Industry; Financial Services Industry

07 Feb 2017
Working Paper Summaries

Rainy Day Stocks

Keywords: by Niels Gormsen and Robin Greenwood

August 2015
Article

A Comparative-Advantage Approach to Government Debt Maturity

By: Robin Greenwood, Samuel G. Hanson and Jeremy C. Stein

We study optimal government debt maturity in a model where investors derive monetary services from holding riskless short-term securities. In a setting where the government is the only issuer of such riskless paper, it trades off the monetary premium associated with... View Details

Keywords: Sovereign Finance; Debt Securities

Read Now

January 1987
Article

Dividend Behavior for the Aggregate Stock Market

By: Terry A. Marsh and Robert C. Merton

Keywords: Behavior; Stocks; Markets

August 2004 (Revised September 2004)
Background Note

Note on Duration and Convexity

This case explores two measures of price sensitivity: duration and convexity. These measures are normally used to gauge how sensitive a bond's price is to a change in interest-rate levels. However, as concepts, both duration and convexity have wider application:... View Details

Keywords: Risk and Uncertainty; Price; Financial Instruments

November 1994 (Revised March 1995)
Background Note

Capital Projects as Real Options: An Introduction

By: Timothy A. Luehrman

Introduces a framework for evaluating corporate investment projects as call options. Presumes readers are familiar with basic option pricing and basic capital budgeting rules. Explains the motivation for viewing projects as options; presents a mapping between a capital... View Details

Keywords: Financial Instruments; Capital Budgeting; Corporate Finance

June 1985 (Revised August 1994)
Background Note

U.S. Government Debt Market and the Structure of Interest Rates, The

Concerns U.S. Government Debt Market and various conventions used to depict the structure of interest rates. View Details

Keywords: Sovereign Finance; Bonds; Interest Rates

March 2009 (Revised October 2009)
Teaching Note

Washington Mutual's Covered Bonds (TN)

By: Daniel Baird Bergstresser and Robin Greenwood

Teaching Note for [209093]. View Details

Keywords: Banks and Banking; Bonds; Banking Industry

February 2006
Case

Fraikin SA

By: W. Carl Kester, Vincent Marie Dessain and Monika Stachowiak

Provides an example of a so-called "whole business" securitization. In early 2004, Fraikin, France's leading industrial vehicle rental company, compares several alternatives for refinancing a large bridge loan within a year. Presents three primary options: a classic... View Details

Keywords: Debt Securities; Transportation; Renting or Rental; Transportation Industry; Service Industry; France