Publications
Publications
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- All HBS Web
(687)
- Faculty Publications (90)
- 2007
- 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
- Fourth Quarter 2007
- Article
Contingent Claims Approach to Measuring and Managing Sovereign Credit Risk
By: Dale . F. Gray, Robert C. Merton and Zvi Bodie
This paper proposes a new approach to measure, analyze, and manage sovereign risk based on the theory and practice of modern contingent claims analysis (CCA). The paper provides a new framework for adapting the CCA model to the sovereign balance sheet in a way that can... View Details
- July 2007
- Teaching Note
Rwanda: National Economic Transformation (TN)
By: Michael E. Porter and Michael Patrick McCreless
Teaching Note to 706491. View Details
- April 2006 (Revised April 2012)
- Case
Ghana: National Economic Strategy
By: Michael E. Porter and Kjell Ke-Li Carlsson
Set in the year 2001, as President John Kufuor contemplates a national economic strategy following his election in the first democratic transfer of power in Ghana's history. Focuses on Ghana's long history of poor economic performance and intractable poverty,... View Details
- March 2006 (Revised February 2017)
- Case
Rwanda: National Economic Transformation
By: Michael E. Porter, Kaia Miller, Michael McCreless, Kjell Carlsson, Jem Hudson and Haviland Sheldahl-Thomason
Set in the year 2004, when Rwanda commemorated the 10th anniversary of a genocide that had claimed the lives of over 10% of its population. Focuses on the formulation of an economic strategy to rebuild the economy and its institutions after the devastation. Rwanda, one... View Details
- March 2005 (Revised January 2006)
- Case
Foreign Exchange Hedging Strategies at General Motors: Transactional and Translational Exposures
By: Mihir A. Desai and Mark Veblen
How should a multinational firm manage foreign exchange exposures? Examines transactional and translational exposures and alternative responses to these exposures by analyzing two specific hedging decisions by General Motors. Describes General Motors' corporate hedging... View Details
- December 2003
- Case
Antitrust Regulations in a Global Setting: The EU Investigation of the GE/Honeywell Merger
By: Mihir A. Desai, Belen Villalonga and Mark Veblen
Helps students understand the principles underlying competition and antitrust policy in the context of the proposed GE-Honeywell merger. The U.S. Department of Justice has already approved the transaction and it is being considered by the European Commission. The... View Details
- September 2003 (Revised September 2004)
- Case
Hearthside Homes
By: Jason R. Barro, Brian J. Hall and Aaron Zimmerman
Investigates the "controllability problem" inherent in bonus systems. Ideally, an incentive system accurately measures performance in areas that the individual can control. But most measures are either too broad, including factors outside the influence of the employee,... View Details
- July 2003 (Revised December 2003)
- Case
Investment Policy at New England Healthcare
By: Jay O. Light, Luis M. Viceira and Akiko M. Mitsui
The Investment Committee of New England Healthcare must decide how to invest three long-term investment pools: a long-term, endowment-type fund and two pension plans. In particular, the committee is evaluating whether the two pension funds--one is a "final salary"... View Details
Keywords: Decisions; Asset Management; Investment; Investment Portfolio; Policy; Taxation; Health Industry; England
- October 2001 (Revised October 2017)
- Case
Pilgrim Bank (A): Customer Profitability
By: Frances X. Frei and Dennis Campbell
Provides a context in which students can explore managerial decision making that is critically informed by data analysis. The setting is a retail bank and the decision making relates to the bank's policy toward online banking. The management team is evaluating whether... View Details
- April 2001 (Revised November 2001)
- Case
AvantGo
By: Alan D. MacCormack and Kerry Herman
Richard Owen, CEO of AvantGo, is preparing for a meeting in which he will set the human resource policy for the firm going forward. It has been three months since the company's IPO, and given the tremendous cramp in hiring over the six months prior to the IPO, he knows... View Details
- January 2001 (Revised May 2010)
- Case
BP Amoco (A): Policy Statement on the Use of Project Finance
By: Benjamin C. Esty and Michael Kane
Following the BP/Amoco merger in December 1998, CFO David Watson asked Bill Young to recommend when and under what circumstances the firm should use external project finance instead of internal corporate funds to finance new capital investments. As part of this... View Details
- Winter 2001
- Other Article
Competition and Antitrust: A Productivity-Based Approach to Evaluating Mergers and Joint Ventures
This article seeks to contribute thinking on how the intellectual foundations of antitrust might be updated, based on a large body of theoretical and empirical research on company strategy, competition, and economic development. The aim is to outline a new direction... View Details
- 2000
- Other Article
Understanding the Drivers of National Innovative Capacity
By: Jeffrey L. Furman, Michael E. Porter and Scott Stern
Motivated by R&D productivity differences across countries, we evaluate the determinants of country-level international patenting. Our framework is built on the concept of national innovative capacity. Our results suggest that (a) patenting is well-characterized... View Details
- March 1998 (Revised November 2004)
- Case
FAG Kugelfischer-A German Restructuring
By: Stuart C. Gilson
A large German manufacturer of ball bearings and precision machinery experiences severe financial difficulty brought on by poor management practices, an ill-conceived acquisition of a former East German ball-bearings company, and an industry recession. The company... View Details
Keywords: Accounting; Acquisition; Restructuring; Economic Slowdown and Stagnation; Machinery and Machining; Policy; Resignation and Termination; Management Practices and Processes; Performance Evaluation; Business and Shareholder Relations; Business and Stakeholder Relations; Europe; Germany; United States
- February 1994 (Revised February 1996)
- Case
Union Carbide Corporation: Interest Rate Risk Management
By: Peter Tufano
Union Carbide's board of directors is asked to evaluate a proposal from the staff treasurer's that would articulate policies to manage its debt portfolio. The staff proposes that shareholder value will be maximized if the firm manages its exposure to interest rates by... View Details
- October 1993 (Revised July 1997)
- Case
Measure of Delight: The Pursuit of Quality at AT&T Universal Card Services (A)
By: Roy D. Shapiro and Michael D. Watkins
AT&T's Universal Card Services (UCS) has been extremely successful during its short lifetime. Dedicated to improving service quality and customer satisfaction, chief quality officer Rob Davis and his quality team have designed and put into place an unusual measurement... View Details
- September 1993 (Revised July 1995)
- Background Note
Public Policy and the Manager: Conceptual Framework
Government intervention in markets may have significant effects--both positive and negative--on a firm's strategic options and its performance outcomes. Thus the ability to analyze the origins, implications, and dynamics of public policy is a critical managerial skill... View Details
- July 1990 (Revised October 1999)
- Case
Nordstrom: Dissension in the Ranks? (A)
By: Robert L. Simons and Hilary Weston
In 1989, the performance measurement systems and compensation policies of Nordstrom Department Stores unexpectedly came under attack by employees, unions, and government regulators. The case describes the "sales-per-hour" monitoring and compensation system that many... View Details