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  • All HBS Web  (2,005)
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  • All HBS Web  (2,005)
    • People  (1)
    • News  (283)
    • Research  (1,546)
    • Events  (1)
    • Multimedia  (13)
  • Faculty Publications  (1,132)
← Page 4 of 2,005 Results →
  • 2024
  • Working Paper

LASH Risk and Interest Rates

By: Laura Alfaro, Saleem Bahaj, Robert Czech, Jonathan Hazell and Ioana Neamtu
We introduce a framework to understand and quantify a form of liquidity risk that we dub Liquidity After Solvency Hedging or “LASH” risk. Financial institutions take LASH risk when they hedge against losses, using strategies that lead to liquidity needs when the value... View Details
Keywords: Liquidity; Monetary Policy; Non-bank Intermediaries; Hedging; Risk and Uncertainty; Investment Funds; Financial Condition; Interest Rates
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Alfaro, Laura, Saleem Bahaj, Robert Czech, Jonathan Hazell, and Ioana Neamtu. "LASH Risk and Interest Rates." Bank of England Staff Working Papers, No. 1,073, May 2024. (NBER Working Paper Series, No. 33241, December 2024.)
  • November 1999 (Revised April 2003)
  • Case

Financing the Mozal Project

By: Benjamin C. Esty and Fuaad Qureshi
It is June 1997, and a team from the International Finance Corp. (IFC) is recommending that the board approve a $120 million investment in a $1.4 billion aluminum smelter in Mozambique, known as the Mozal project. Four factors make the investment controversial: it... View Details
Keywords: Investment; Capital Markets; Emerging Markets; Projects; Financial Management; Risk and Uncertainty; Developing Countries and Economies; Metals and Minerals; Financial Strategy; Government and Politics; International Finance; Infrastructure; Mozambique
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Esty, Benjamin C., and Fuaad Qureshi. "Financing the Mozal Project." Harvard Business School Case 200-005, November 1999. (Revised April 2003.)
  • August 1994
  • Background Note

Derivative Markets: Structure and Risks

Gives a conceptual understanding of derivative products, their applications, and valuation. After a brief treatment of exchange-traded derivatives, explores over-the-counter (OTC) derivatives, emphasizing the market, credit, legal, operational, and other risks... View Details
Keywords: Credit Derivatives and Swaps; Markets
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Mason, Scott P., and Kuljot Singh. "Derivative Markets: Structure and Risks." Harvard Business School Background Note 295-009, August 1994.
  • Article

The Economics of Structured Finance

By: Joshua D. Coval, Jakub W. Jurek and Erik Stafford
This paper investigates the spectacular rise and fall of structured finance. The essence of structured finance activities is the pooling of economic assets like loans, bonds, and mortgages, and the subsequent issuance of a prioritized capital structure of claims, known... View Details
Keywords: Financial Crisis; Asset Management; Debt Securities; Investment; Risk Management; Behavior
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Coval, Joshua D., Jakub W. Jurek, and Erik Stafford. "The Economics of Structured Finance." Journal of Economic Perspectives 23, no. 1 (Winter 2009): 3–25.
  • 26 Feb 2008
  • Working Paper Summaries

Long-Run Stockholder Consumption Risk and Asset Returns

Keywords: by Christopher J. Malloy, Tobias J. Moskowitz & Annette Vissing-Jørgensen; Financial Services
  • 07 Jan 2015
  • News

Taking on risk

Having worked as an engineer at SpaceX and as an analyst at Oaktree Capital, Zach Lupei (MBA 2015) is now building a startup in the personal-finance space. (Published January 2015) View Details
  • 11 Apr 2012
  • Research & Ideas

The High Risks of Short-Term Management

short horizon and the volatility of their stock, this does not apply to the association between short-termism and cost of capital. We interpret this as evidence that our short-termism measure captures a dimension of non-diversifiable risk... View Details
Keywords: by Sean Silverthorne; Financial Services
  • October 2006 (Revised March 2008)
  • Case

2006 Hurricane Risk

By: Andre F. Perold and Erik Stafford
In May 2006, a resident of Key West, Florida had to decide whether to renew his policy to insure against hurricane damage. The policy would cost $13,000 for one year, $5,000 more than what he paid in 2005. At the same time, a wealthy California resident was... View Details
Keywords: Capital Markets; Cost; Insurance; Price; Risk Management; California; Key West
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Perold, Andre F., and Erik Stafford. "2006 Hurricane Risk." Harvard Business School Case 207-075, October 2006. (Revised March 2008.)
  • 2016
  • Working Paper

Options-Pricing Formula with Disaster Risk

By: Robert J. Barro and Gordon Y. Liao
A new options-pricing formula applies to far-out-of-the money put options on the overall stock market when disaster risk is the dominant force, the size distribution of disasters follows a power law, and the economy has a representative agent with Epstein-Zin utility.... View Details
Keywords: Option Pricing; Rare Disaster; Price; Stock Options; Financial Crisis
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Barro, Robert J., and Gordon Y. Liao. "Options-Pricing Formula with Disaster Risk." NBER Working Paper Series, No. 21888, January 2016.
  • 1995
  • Chapter

Incentive Problems in Financial Contracting: Impacts on Corporate Financing, Investment, and Risk Management Policies

By: K. Froot
Keywords: Catastrophe Risk; Corporate Finance; Cost Of Capital; Banking And Insurance; Asset Pricing; Hedging; Banking; Decision Choice And Uncertainty; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Insurance Industry
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Froot, K. "Incentive Problems in Financial Contracting: Impacts on Corporate Financing, Investment, and Risk Management Policies." Chap. 7 in The Global Financial System: A Functional Perspective, by D. B. Crane, K. A. Froot, Scott P. Mason, André Perold, R. C. Merton, Z. Bodie, E. R. Sirri, and P. Tufano, 225–261. Boston: Harvard Business School Press, 1995. (Revised from Harvard Business School Working Paper No. 95-020.)
  • Spring 2016
  • Article

Risk Neglect in Equity Markets

By: Malcolm Baker
The link between measures of risk and return within the equity market has been very weak over the past 47 years: in the United States, returns on high-risk stocks have cumulatively fallen short of the returns on low-risk stocks, during a period when the equity market... View Details
Keywords: Asset Allocation; Equity Investment; Behavioral Finance; Private Equity
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Baker, Malcolm. "Risk Neglect in Equity Markets." Journal of Portfolio Management 42, no. 3 (Spring 2016): 12–25.
  • July 2008 (Revised January 2012)
  • Case

Enterprise Risk Management at Hydro One (A)

By: Anette Mikes
An early adopter of Enterprise Risk Management, energy giant Hydro One anticipated new threats and opportunities in an industry that faced climate change and carbon legislation, the deregulation of electricity markets, and the greater adoption of renewable... View Details
Keywords: Capital Budgeting; Knowledge Sharing; Managerial Roles; Risk Management; Strategic Planning; Situation or Environment; Environmental Sustainability; Renewable Energy; Energy Industry
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Mikes, Anette. "Enterprise Risk Management at Hydro One (A)." Harvard Business School Case 109-001, July 2008. (Revised January 2012.)
  • March 2009
  • Article

Risk Management and Calculative Cultures

By: Anette Mikes
Enterprise risk management (ERM) has recently emerged as a widespread practice in financial institutions. It has been increasingly codified and encrypted into regulatory, corporate governance and organisational management blueprints. A burgeoning literature of... View Details
Keywords: Risk Management; Practice; Banks and Banking; Corporate Governance; Value; Business and Shareholder Relations; Managerial Roles; Culture; Governing Rules, Regulations, and Reforms; Business or Company Management; Financial Services Industry
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Mikes, Anette. "Risk Management and Calculative Cultures." Management Accounting Research 20, no. 1 (March 2009): 18–40. (

Winner of David Solomons Prize For the best paper in each annual volume of Management Accounting Research presented by Chartered Institute of Management Accountants​

.)
  • 10 Oct 2017
  • News

Risk and Rewards

Adebayo Ogunlesi (MBA 1979) is chairman and managing partner of Global Infrastructure Partners. In this interview he talks about the rewards of taking risks on unexpected opportunities. “People often ask me, ‘What is the best advice you... View Details
  • 2016
  • Chapter

Financing Entrepreneurial Experimentation

By: Ramana Nanda and Matthew Rhodes-Kropf
Keywords: Innovation; Investing; Abandonment Option; Failure Tolerance; Risk and Uncertainty; Technological Innovation; Venture Capital; Entrepreneurship
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Nanda, Ramana, and Matthew Rhodes-Kropf. "Financing Entrepreneurial Experimentation." Chap. 1 in Innovation Policy and the Economy, Volume 16, edited by William R. Kerr, Josh Lerner, and Scott Stern, 1–23. National Bureau of Economic Research, and University of Chicago Press, 2016.
  • 2021
  • Chapter

Multinationals' Need for State Protection: The Creation of the Swiss Investment Risk Guarantee in the 1960s

By: Sabine Pitteloud
This chapter focuses on the role of Industrie-Holding, the Federation of Swiss Industrial Multinational Companies, in the introduction of an investment risk guarantee during the 1960s. The chapter therefore contributes to a) the growing body of literature on how... View Details
Keywords: Investments; Multinational Companies; Political Risk; Business & Government Relations; Investment; Multinational Firms and Management; Risk and Uncertainty; Business and Government Relations; Switzerland
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Pitteloud, Sabine. "Multinationals' Need for State Protection: The Creation of the Swiss Investment Risk Guarantee in the 1960s." In Security and Insecurity in Business History: Case Studies in the Perception and Negotiation of Threats, edited by Mark Jakob, Nina Kleinöder, and Christian Kleinschmidt, 111–134. Baden-Baden: Nomos Verlagsgesellschaft, 2021.
  • Spring 2013
  • Article

The Growth of Finance

By: Robin Greenwood and David S. Scharfstein
The U.S. financial services industry grew from 4.9% of GDP in 1980 to 7.9% of GDP in 2007. A sizeable portion of the growth can be explained by rising asset management fees, which in turn were driven by increases in the valuation of tradable assets, particularly... View Details
Keywords: Finance; Asset Management; Research; Mortgages; Financial Services Industry
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Greenwood, Robin, and David S. Scharfstein. "The Growth of Finance." Journal of Economic Perspectives 27, no. 2 (Spring 2013): 3–28.
  • 06 Jun 2016
  • Video

Measuring Risk to Create More Value

    Fiscal Risk and the Portfolio of Government Programs

    This paper proposes a new approach to social cost-benefit analysis using a model in which a benevolent government chooses risky projects in the presence of market failures and tax distortions.  The government internalizes market failures and therefore perceives project... View Details
    • 15 May 2012
    • Panel Discussion

    Capitalism at Risk

    By: Lynn S. Paine and Joseph L. Bower
    Keywords: Capital Markets; Innovation; Capital Structure; Innovation Leadership; Consumer Products Industry
    Citation
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    Paine, Lynn S., and Joseph L. Bower. "Capitalism at Risk." Recast Capitalism, Rethink Company, Institut de l'entreprise, Paris, France, May 15, 2012.
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