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  • All HBS Web  (287)
    • News  (53)
    • Research  (199)
  • Faculty Publications  (80)

Show Results For

  • All HBS Web  (287)
    • News  (53)
    • Research  (199)
  • Faculty Publications  (80)
← Page 4 of 287 Results →
  • July 2009 (Revised July 2009)
  • Case

Delphi Corp. and the Credit Derivatives Market (A)

By: Stuart C. Gilson, Victoria Ivashina and Sarah Abbott
In 2005, Jane Bauer-Martin, a hedge fund manager, is considering what she should do with the fund's large investment in the publicly traded bonds of Delphi Corp., a financially troubled auto parts supplier. Delphi is General Motor's key auto parts supplier, and, like... View Details
Keywords: Borrowing and Debt; Insolvency and Bankruptcy; Credit Derivatives and Swaps; Bonds; Financial Management; Risk Management
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Gilson, Stuart C., Victoria Ivashina, and Sarah Abbott. "Delphi Corp. and the Credit Derivatives Market (A)." Harvard Business School Case 210-002, July 2009. (Revised July 2009.)
  • April 2010
  • Article

Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

By: Andre C. Martinez Fritscher and Aldo Musacchio
There is a large literature looking at the determinants of country risk (defined as the difference between the yield of a sovereign's bonds and the risk-free rate). In this paper, we contribute to the discussion by arguing that an important explanatory factor is the... View Details
Keywords: Bonds; Performance Capacity; Taxation; Revenue; Governance; Geographic Location; Trade; Price; Cost of Capital; Risk and Uncertainty; Public Administration Industry; Brazil
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Martinez Fritscher, Andre C., and Aldo Musacchio. "Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930." Financial History Review 17, no. 1 (April 2010). (Winner of the Gerry Feldman Young Scholar Prize for the best paper of (a) young scholar(s) of the European Association of Banking and Financial History, 2010-2011.)
  • 2010
  • Chapter

The Euro as a Reserve Currency for Global Investors

By: Luis M. Viceira and Ricardo Gimeno
This article explores the demand for the euro for risk management purposes and the evidence of stock market integration in the euro area. We define a reserve currency as one that investors demand either because it helps them hedge real interest risk and inflation risk,... View Details
Keywords: Volatility; Inflation and Deflation; Capital Markets; Currency; Stocks; Financial Markets; Financing and Loans; Investment Return; Investment Portfolio; Risk Management
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Viceira, Luis M., and Ricardo Gimeno. "The Euro as a Reserve Currency for Global Investors." Chap. 4 in Spain and the Euro. The First Ten Years, 149–178. Madrid, Spain: Banco de España, 2010.
  • July 1997
  • Case

Treasury Inflation-Protection Securities (TIPS)

Explores the development of a new product offering based on the first issuance of "real" bonds in the United States. Looks at a specific organization's efforts to position itself to profit from this market development. Follows naturally from a case on nominal bonds. View Details
Keywords: Risk Management; Bonds; Inflation and Deflation; United States
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Das, Sanjiv R., and Jeffrey T. Slovin. "Treasury Inflation-Protection Securities (TIPS)." Harvard Business School Case 298-017, July 1997.
  • 2009
  • Working Paper

Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

By: Andre C. Martinez Fritscher and Aldo Musacchio
There is a large amount of literature that aims to explain what determines country risk (defined as the difference between the yield of a sovereign's bonds and the risk free rate). In this paper, we contribute to the discussion by arguing that an important explanatory... View Details
Keywords: Trade; Cost of Capital; Revenue; Sovereign Finance; Goods and Commodities; Taxation; Business History; Risk and Uncertainty; Brazil
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Martinez Fritscher, Andre C., and Aldo Musacchio. "Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930." Harvard Business School Working Paper, No. 10-027, October 2009. (Revised December 2009.)
  • March 2016 (Revised October 2023)
  • Case

Central European Distribution Corporation: Hostile Takeover, Bankruptcy Makeover

By: Stuart C. Gilson and Sarah L. Abbott
In early 2013, Central European Distribution Corporation (CEDC), a large publicly traded producer and distributer of vodka and spirits in Eastern and Central Europe, has suffered significant declines in its financial performance, is at risk of defaulting on its debt,... View Details
Keywords: Hostile Takeover; Accounting Restatement; Activist Shareholder; Restructuring; Mergers and Acquisitions; Financial Statements; Corporate Governance; Investment Activism; Distribution Industry; Food and Beverage Industry; United States; Russia; Europe
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Gilson, Stuart C., and Sarah L. Abbott. "Central European Distribution Corporation: Hostile Takeover, Bankruptcy Makeover." Harvard Business School Case 216-059, March 2016. (Revised October 2023.)
  • 2015
  • Working Paper

Customers and Investors: A Framework for Understanding Financial Institutions

By: Robert C. Merton and Robert T. Thakor
Financial institutions have both investors and customers. Investors, such as those who invest in stocks and bonds or private/public-sector guarantors of institutions, expect an appropriate risk-adjusted return in exchange for the financing and risk-bearing that they... View Details
Keywords: Financial Institutions
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Merton, Robert C., and Robert T. Thakor. "Customers and Investors: A Framework for Understanding Financial Institutions." NBER Working Paper Series, No. 21258, June 2015.
  • 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
  • 2009
  • Working Paper

Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

By: Andre C. Martinez Fritscher and Aldo Musacchio
There is a large amount of literature that aims to explain what determines country risk (defined as the difference between the yield of a sovereign's bonds and the risk-free rate). In this paper, we contribute to the discussion by arguing that an important explanatory... View Details
Keywords: Business History; Sovereign Finance; Goods and Commodities; Risk and Uncertainty; Trade; Taxation; Cost of Capital; Revenue; Brazil
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Martinez Fritscher, Andre C., and Aldo Musacchio. "Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930." NBER Working Paper Series, No. 15411, October 2009.

    Global Portfolio Diversification for Long-Horizon Investors

    We show that the secular upward shift in short-run cross-country correlations of stock and bond returns does not necessarily imply a decline in the benefits of global portfolio diversification for long-horizon investors. We show that this increase in correlations has... View Details
    • 10 Nov 2009
    • Working Paper Summaries

    Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

    Keywords: by André C. Martínez Fritscher & Aldo Musacchio
    • 22 Apr 2020
    • Research Event

    How Investors Are Sizing Up Climate Change’s Risks—and Opportunities

    Until a few years ago, climate change’s potential impact seemed abstract for many investors. Now, as sea levels rise, hurricanes intensify, and droughts threaten food supplies, many investors are confronting its financial realities. But it’s not a simple calculation.... View Details
    Keywords: by Danielle Kost; Financial Services
    • February 2018
    • Case

    Infrastructure in Nigeria: Unlocking Pension Fund Investments

    By: John Macomber and Pippa Tubman Armerding
    The so-called “infrastructure finance gap” was a problem in Nigeria as in many parts of the world. Infrastructure projects like power plants and dams were very large capital investments that could generate long-term consistent cash flows, but their financing and... View Details
    Keywords: Pension Fund Investing; Infrastucture; Power/Energy; Credit Enhancement; Infrastructure; Project Finance; Investment Funds; Emerging Markets; Nigeria; Africa
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    Macomber, John, and Pippa Tubman Armerding. "Infrastructure in Nigeria: Unlocking Pension Fund Investments." Harvard Business School Case 218-071, February 2018.
    • 10 Dec 2012
    • Working Paper Summaries

    Vulnerable Banks

    Keywords: by Robin Greenwood, Augustin Landier & David Thesmar; Banking; Financial Services
    • April 2025
    • Article

    The Fed and the Secular Decline in Interest Rates

    By: Sebastian Hillenbrand
    In this paper I document a striking fact: a narrow window around Fed meetings fully captures the secular decline in U.S. Treasury yields since 1980. By contrast, yield movements outside this window are transitory and wash out over time. This is surprising because the... View Details
    Keywords: United States Treasury; Monetary Policy; Yield Curve
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    Hillenbrand, Sebastian. "The Fed and the Secular Decline in Interest Rates." Review of Financial Studies 38, no. 4 (April 2025). (Editor's Choice.)
    • 22 Jul 2009
    • Working Paper Summaries

    Reputation and Competition: Evidence from the Credit Rating Industry

    Keywords: by Bo Becker & Todd Milbourn; Financial Services
    • February 2015 (Revised December 2016)
    • Case

    Poseidon Carlsbad: Desalination and the San Diego County Water Authority

    By: John Macomber
    Extreme drought conditions in California have significant impacts on the ability of the San Diego County Water Authority to provide adequate water for current users. Water shortfalls also could curtail the economic development of one of the fastest growing regions in... View Details
    Keywords: Risk Management; Partners and Partnerships; Resource Allocation; Public Sector; Private Sector; Environmental Sustainability; Policy; Infrastructure; Green Technology Industry; Utilities Industry; California
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    Macomber, John. "Poseidon Carlsbad: Desalination and the San Diego County Water Authority." Harvard Business School Case 215-057, February 2015. (Revised December 2016.)
    • May 1996
    • Case

    First Capital Holdings Corp.

    By: Stuart C. Gilson, Harry DeAngelo and Linda DeAngelo
    The manager of a money-management firm considers whether to invest in the securities of a large, financially troubled, California-based life insurance holding company that holds 40% of its assets in high-yield junk bonds. Over the past year, the value of its portfolio... View Details
    Keywords: Risk Management; Debt Securities; Bonds; Valuation; Investment Return; Fair Value Accounting; Financial Institutions; Insurance Industry
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    Gilson, Stuart C., Harry DeAngelo, and Linda DeAngelo. "First Capital Holdings Corp." Harvard Business School Case 296-032, May 1996.
    • 23 Apr 2012
    • Research & Ideas

    How to Brand a Next-Generation Product

    you expect Rocky II to play off Rocky. But with James Bond movies, there's no reason to expect that the latest Bond movie [Quantum of Solace] has anything to do with the previous View Details
    Keywords: by Carmen Nobel

      George Serafeim

      George Serafeim is the Charles M. Williams Professor of Business Administration at Harvard Business School. He co-leads a Lab, within Harvard's Digital, Data, Design Institute, and serves on the faculty steering commitee of Harvard University's Salata Institute. He... View Details

      Keywords: asset management; insurance industry; automobiles; industrial goods; fashion; food; green technology
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