Publications

Article

Marketing and Seduction: Building Exchange Relationships by Managing Social Consensus

By: John A. Deighton and Kent Grayson

Keywords: Marketing; Relationships; Management; Public Opinion

March 2004 (Revised May 2005)
Case

Foreign Exchange Hedging Strategies at General Motors

By: Mihir A. Desai and Mark Veblen

How should a multinational firm manage foreign exchange exposures? Examines transactional, translational, and competitive exposures. Describes General Motors' corporate hedging policies, its risk management structure, and how accounting rules impact hedging decisions.... View Details

Keywords: Risk Management; Multinational Firms and Management; Currency Exchange Rate; Investment; Financial Markets; Manufacturing Industry; Auto Industry; Argentina; Japan; Canada; United States

14 Dec 2017
Working Paper Summaries

The Real Exchange Rate, Innovation and Productivity

Keywords: by Laura Alfaro, Alejandro Cuñat, Harald Fadinger, and Yanping Liu; Manufacturing

July 2015
Teaching Note

A Currency We Can Call Our Own: Populism, Banking Crises, and Exchange Rate Crises in Argentina, 1946-2002

By: Rafael Di Tella

March 1984 (Revised August 1996)
Case

B.F. Goodrich-Rabobank Interest Rate Swap

By: Jay O. Light

A U.S. manufacturing organization and a Eurobank swap fixed and floating rate obligations to reduce their financing costs. View Details

Keywords: Financing and Loans; Cost Management; Production; Interest Rates; Credit Derivatives and Swaps; Auto Industry; Financial Services Industry; United States

September 2016 (Revised February 2017)
Case

Angie's List: Ratings Pioneer Turns 20

By: Robert J. Dolan and Ayelet Israeli

In 1995, before people “googled” or “yelped,” Angela Hicks (HBS, 2000) was establishing her Angie’s List as a pioneer in the accumulation and dissemination of consumer rating information. Hicks focused on the home repair and maintenance market and, as she put it,... View Details

Article

The Factor Environmental Ratings Miss

By: Auden Schendler and Michael W. Toffel

There's a problem with most major environmental rankings of businesses: too often, the ratings fail to incorporate advocacy activities that influence environmental regulation. View Details

Keywords: Governing Rules, Regulations, and Reforms; Problems and Challenges; Rank and Position; Environmental Sustainability; Power and Influence

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2020
Working Paper

Tariff Passthrough at the Border and at the Store: Evidence from U.S. Trade Policy

By: Alberto Cavallo, Gita Gopinath, Brent Neiman and Jenny Tang

We use micro data collected at the border and the store to characterize the price impact of recent US trade policy on importers, exporters, and consumers. At the border, import tariff passthrough is much higher than exchange rate passthrough. Chinese exporters did not... View Details

Keywords: Trade Policy; Tariffs; Exchange Rate Passthrough; Economics; Trade; Policy; Inflation and Deflation; United States; China

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11 Oct 2007
Working Paper Summaries

How Firms Respond to Being Rated

Keywords: by Aaron K. Chatterji & Michael W. Toffel

April 2017 (Revised February 2020)
Case

Restructuring Ukraine

By: Kristin Mugford, Seema Amble and Tian Feng

In June 2015, Ukraine found itself struggling with a volatile and devalued currency, dramatically diminished foreign reserves, and a projected financing shortfall of $40 billion. Ukraine’s new government sought to return the nation to stability following political... View Details

Keywords: Exchange Rates; Politics; Macroeconomics; Financial Crisis; Insolvency and Bankruptcy; Restructuring; Economy; Currency Exchange Rate; Banks and Banking; Economic Slowdown and Stagnation; Bonds; Sovereign Finance; Capital Markets; Credit; Debt Securities; Financial Liquidity; Financial Markets; Government and Politics; Ukraine

Article

Tariff Passthrough at the Border and at the Store: Evidence from U.S. Trade Policy

By: Alberto Cavallo, Gita Gopinath, Brent Neiman and Jenny Tang

We use micro data collected at the border and the store to characterize the price impact of recent US trade policy on importers, exporters, and consumers. At the border, import tariff passthrough is much higher than exchange rate passthrough. Chinese exporters did not... View Details

Keywords: Trade Policy; Tariffs; Exchange Rate Passthrough; Economics; Trade; Policy; Currency Exchange Rate; Price; United States

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October 2013
Teaching Note

Switzerland: Foreign Pressure and Direct Democracy

By: Julio J. Rotemberg

Keywords: Foreign Exchange Intervention; Exchange Rates; European Union; Exchange Rate Management; Bank Secrecy; Corporate Governance; International Relations; Corporate Accountability; Switzerland; Europe

May 2016 (Revised January 2018)
Case

Improving Repurchase Rates at zulily

By: Thales Teixeira and Sarah McAra

In February 2015, zulily cofounder and CEO Darrell Cavens faced a major challenge in his business, a Seattle-based daily deals site that catered to moms. The more he spent to acquire new customers, the less he retained them in the form of repeat purchases. This was an... View Details

Keywords: Zulily; Repurchase; E-commerce; Online Shopping; Fashion; Customer Relationship Management; Internet and the Web; Digital Marketing; Customer Satisfaction; Fashion Industry; Retail Industry; Seattle

October 2007 (Revised November 2007)
Case

Barclays Global Investors and Exchange Traded Funds

By: Luis M. Viceira and Alison Berkley Wagonfeld

Provides an overview of the Exchange Traded Funds (EFT) industry and highlights the leadership role that Barclays Global Investors (BGI) has played in this developing asset class. BGI launched its first ETFs under the iShares brand name in 2000, and by mid-2007 BGI was... View Details

Keywords: History; Venture Capital; Asset Management; Stocks; Investment Funds; Leading Change; Expansion; Competitive Strategy; Capital Markets; Global Strategy; Financial Strategy; Banking Industry; Financial Services Industry; Asia; Europe

June 2023
Article

Regulatory Limits to Risk Management

By: Ishita Sen

Variable annuities, the largest liability of U.S. life insurers, are investment products containing long-dated minimum return guarantees. I show that guarantees with similar economic risks are treated differently by regulation and these differences impact insurers’... View Details

Keywords: Interest Rate Risk; Variable Annuities; Capital Regulation; Reinsurance; Derivatives; Risk Management; Interest Rates; Governing Rules, Regulations, and Reforms

SSRN

June 2005
Article

Currency Returns, Intrinsic Value, and Institutional Investor Flows

By: K. A. Froot and T. Ramadorai

Keywords: Currencies; Exchange Rates; Purchasing Power Parity; Real Exchange Rate; Forecasting and Prediction; Behavioral Finance; Investment Return; Market Transactions; Performance Expectations; Personal Characteristics; Asset Pricing; Financial Services Industry

Article

The Price Impact of Joining a Currency Union: Evidence from Latvia

By: Alberto Cavallo, Brent Neiman and Roberto Rigobon

Does membership in a currency union matter for a country’s international relative prices? The answer to this question is critical for thinking about the implications of joining (or exiting) a common currency area. This paper is the first to use high-frequency... View Details

Keywords: Currency Union; Exchange Rate; Law Of One Price; Currency Exchange Rate; Price; Latvia

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Research Summary

The Real Exchange Rate, Innovation and Productivity

By: Laura Alfaro

We evaluate manufacturing firms' responses to changes in the real exchange rate (RER) using detailed firm-level data for a large set of countries for the period 2001-2010. We uncover the following stylized facts about regional variation of manufacturing firms'... View Details

October 2005
Teaching Note

Foreign Exchange Markets and Transactions (TN)

By: Mihir A. Desai and Kathleen Luchs

Keywords: Currency Exchange Rate