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  • 26 Sep 2013
  • Research & Ideas

Behind India’s Economic and Political Woes

rupiah and the Brazilian real. A common cause of these price movements is shifts, or expected shifts, in US monetary policy. The United States is still the big gorilla in the global currency field, and when policies are tightened at home,... View Details
Keywords: by Zeenat Potia
  • 27 May 2009
  • First Look

First Look: May 27, 2009

  Working PapersThe Long-Run Risks Model and Aggregate Asset Prices: An Empirical Assessment Authors:Jason Beeler and John Y. Campbell Abstract The long-run risks model of asset prices explains stock price... View Details
Keywords: Martha Lagace
  • 30 Oct 2006
  • First Look

First Look: October 31, 2006

accounting, improve price and volatility discovery, and expand international risk intermediation activities. Download working paper: http://www.hbs.edu/research/pdf/07-026.pdf   Cases & Course... View Details
Keywords: Sean Silverthorne
  • December 2006
  • Case

Southern Company's Investment in CEMIG

In the spring of 1997, Southern Company had the opportunity to acquire a significant portion of the electric utility in the Brazilian state of Minas Gerais. The shares in the utility, CEMIG, were being sold by the state government as part of a comprehensive... View Details
Keywords: Corporate Strategy; Privatization; Investment; Acquisition; Globalized Markets and Industries; Utilities Industry; Brazil
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  • January 2013 (Revised April 2017)
  • Supplement

Maxum Petroleum, Inc.

By: W. Carl Kester
Maxum seeks an oil-price hedging strategy that yields substantial cash during oil price spikes, is affordable under ordinary circumstances, and is easily managed. It is striving to avoid a repeat of the challenging situation encountered in 2008 when spiking oil prices... View Details
Keywords: Hedging; Options; Commodities; Credit Derivatives and Swaps; Risk Management; Futures and Commodity Futures; Financial Strategy; Volatility
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  • 28 Jul 2015
  • First Look

First Look: July 28, 2015

management literature. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=47633 Concentrated Capital Losses and the Pricing of Corporate Credit Risk By: Siriwardane, Emil N. Abstract—Using proprietary credit default... View Details
Keywords: Carmen Nobel
  • 28 Feb 2012
  • First Look

First Look: Feb. 28

Pierce, Jason A. Snyder, and Michael W. Toffel Abstract Competition among firms can have many positive outcomes, including decreased prices and improved quality. Yet competition can have a darker side when firms can gain competitive... View Details
Keywords: Sean Silverthorne
  • 24 Mar 2009
  • First Look

First Look: March 24, 2009

effects of v4 scarcity, while obtaining price discovery and allocative efficiency benefits of market transactions. Download the paper: http://www.hbs.edu/research/pdf/09-091.pdf Why Do Countries Adopt International Financial Reporting... View Details
Keywords: Martha Lagace
  • November 2024
  • Teaching Note

Mercado Bitcoin: M&A, IPO, or Series B?

By: Raymond Kluender, Emanuele Colonnelli and Sabrina Howell
Teaching Note for HBS Case No. 825-047. In April 2021, Brazilian cryptocurrency platform Mercado Bitcoin, had to decide how to scale: go public, M&A with a bank, or take a VC big check. In a highly volatile market, Roberto Dagnoni, chairman of the board, viewed the... View Details
Keywords: Cryptocurrency; Mergers and Acquisitions; Business Growth and Maturation; Business Startups; Decision Making; Going Public; Ownership Stake; Strategic Planning; Venture Capital; Problems and Challenges; Business Cycles; Digital Platforms; Emerging Markets; Market Timing; Expansion; Diversification; Valuation; Value Creation; Investment Funds; Initial Public Offering; Price; Price Bubble; Negotiation Offer; Information Technology Industry; Financial Services Industry; Brazil; Latin America
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    Ray A. Goldberg

    A native of North Dakota, Dr. Goldberg received his A.B. from Harvard University in 1948, his MBA from the Harvard Graduate School of Business Administration in 1950 and his Ph.D. in Agricultural Economics from the University of Minnesota in 1952.

    ... View Details

    Keywords: agribusiness; agriculture; fast food; food; food processing; forest products; grocery; high technology; information; restaurant; retailing; soft drink; textiles; tobacco; transportation; wholesale; wine
    • 10 Feb 2009
    • First Look

    First Look: February 10, 2009

    http://harvardbusinessonline.hbsp.harvard.edu/ b01/en/common/item_detail.jhtml?id=509004 The Great Moderation Harvard Business School Note 709-023 The Great Moderation is a significant decline in the volatility of fluctuations in most... View Details
    Keywords: Martha Lagace
    • August 2024 (Revised November 2024)
    • Case

    Mercado Bitcoin: M&A, IPO, or Series B?

    By: Raymond Kluender, Emanuele Colonnelli, Sabrina T. Howell and Karina Souza
    In April 2021, Brazilian cryptocurrency platform Mercado Bitcoin had to decide how to scale: go public, M&A with a bank, or take a VC big check. In a highly volatile market, Roberto Dagnoni, chairman of the board, viewed the unprecedent crypto momentum as a window of... View Details
    Keywords: Cryptocurrency; Mergers and Acquisitions; Business Growth and Maturation; Business Startups; Decision Making; Going Public; Ownership Stake; Strategic Planning; Venture Capital; Problems and Challenges; Business Cycles; Digital Platforms; Emerging Markets; Market Timing; Expansion; Diversification; Valuation; Value Creation; Investment Funds; Initial Public Offering; Price; Price Bubble; Negotiation Offer; Financial Liquidity; Information Technology Industry; Financial Services Industry; Latin America; South America; Brazil; Sao Paulo; United States
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    • 2024
    • Working Paper

    Does the Case for Private Equity Still Hold?

    By: Nori Gerardo Lietz and Philipp Chvanov
    Private Equity (“PE”) received a 10-fold increase in capital flows since the Great Financial Crisis (“GFC”) Investors sought higher nominal returns relative to those they could obtain in the public capital markets. This paper questions the fundamental assumptions... View Details
    Keywords: Private Equity; Investment Return; Investment Portfolio; Financial Markets
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    • July 2001 (Revised March 2002)
    • Case

    Progressive Insurance: Disclosure Strategy

    By: Amy P. Hutton and James Weber
    Progressive Insurance had refused to play Wall Street's earning game. Progressive didn't manage reported earnings nor did management give guidance to analysts. Management then considered taking their unique disclosure strategy one step further to become the first to... View Details
    Keywords: Earnings Management; Stocks; Corporate Disclosure; Insurance; Volatility; Insurance Industry; United States
    Related
    • 08 Nov 2011
    • First Look

    First Look: Nov. 8

    Abstract In many service industries, companies compete with each other on the basis of the waiting time their customers experience, along with other strategic instruments such as the price they charge for their service. The objective of... View Details
    Keywords: Sean Silverthorne
    • Web

    Behavioral Finance & Financial Stability

    Info Do Fire Sales Create Externalities? By: Sergey Chernenko & Adi Sunderam DEC 2018 How do cash policies affect stock returns? A mutual fund that uses its cash reserves to accommodate outflows will lower the volatility of its underlying... View Details
    • Web

    Business, Government & the International Economy - Faculty & Research

    International and Historical Perspective By: Rafael Di Tella , Franco Nuñez and Pablo Ottonello 2025 Working Paper Tracking the Short-Run Price Impact of U.S. Tariffs By: Alberto Cavallo , Paola Llamas and Franco Vazquez This paper... View Details
    • 28 Aug 2012
    • First Look

    First Look: August 28

    at a large investment firm relative to those of sell-side analysts from mid-1997 to 2004. We find that the buy-side firm's analysts issue less optimistic recommendations for stocks with larger market capitalizations and lower return View Details
    Keywords: Sean Silverthorne
    • 20 Aug 2013
    • First Look

    First Look: August 20

    too volatile given the mean reversion in earnings. We show that high current ship earnings are associated with high secondhand ship prices and heightened industry investment in fleet capacity but forecast... View Details
    Keywords: Anna Secino
    • 18 Oct 2013
    • Working Paper Summaries

    Monetary Policy Drivers of Bond and Equity Risks

    Keywords: by John Y. Campbell, Carolin E. Pflueger & Luis M. Viceira