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- All HBS Web (982)
- Faculty Publications (116)
- 02 Mar 2016
- What Do You Think?
Is Apple’s Real Privacy Challenge Technology Innovation Itself?
least initially, refused the government’s order and subsequent lawsuit on the grounds doing so runs the risk of making public the workings of a device intended to serve the security interests of its users.... View Details
- 10 Dec 2021
- Research & Ideas
Truth Be Told: Unpacking the Risks of Whistleblowing
relying on whistleblowers to prevent and investigate fraud, the professors realized, there is little understanding about the real risks faced by an employee who steps forward. Dey and Heese set out to study... View Details
Keywords: by April White
- 17 Oct 2024
- Research & Ideas
The Reputation Risks of Sharing Fake News
political party is to show that you’re willing to take outlandish stances that will brand you as a supporter,” explains Jordan. Could the logic of what academics call “costly signaling” create a perverse incentive to spread fake news, Jordan and her colleagues... View Details
Keywords: by Avery Forman
- 16 Sep 2019
- Research & Ideas
Crowdsourcing Is Helping Hollywood Reduce the Risk of Movie-Making
is ready for audiences, making them risky and expensive propositions. “Each one is a huge project, and the success rate is quite low,” says Hong Luo, the James Dinan and Elizabeth Miller Associate Professor of Business Administration in... View Details
- 23 Dec 2019
- Blog Post
Taking the Risk to Start a Company at Business School
I was doing, so I decided to make a change. I applied to HBS.” She arrived at HBS, thinking that it might help her figure out the next step in a finance career. She was also interested in exploring social impact investing. HBS helped her... View Details
- 15 Apr 2002
- Research & Ideas
In the Virtual Dressing Room Returns Are A Real Problem
Most compelling is the high return rate for apparel products purchased online, which mirrors the rate for catalog apparel purchases: By one estimate, returns for apparel bought from catalogs ranged from 12... View Details
- Web
2018 Financial Risk and Regulation Survey - Behavioral Finance & Financial Stability
that under-provision of credit due to excessive regulation posed a great threat to the financial system. Figure 6: In Your View, Do Any of the Following Pose a Threat to the U.S. Financial System? These two main concerns - political risk... View Details
- 04 Mar 2016
- Research & Ideas
Is E-commerce at Risk in Apple's Security Dispute with the FBI?
sales each year? Sunil Gupta, the Edward W. Carter Professor of Business Administration at Harvard Business School, recently wrote a case on Apple Pay and the company’s ambitions of convincing consumers to trade in their real wallets in... View Details
- Article
The Unintended Consequences of the Zero Lower Bound Policy
By: Marco Di Maggio and Marcin Kacperczyk
We study the impact of the zero lower bound interest rate policy on the industrial organization of the U.S. money fund industry. We find that in response to policies that maintain low interest rates, money funds change their product offerings by investing in riskier... View Details
Keywords: Quantitative Easing; Money Market Funds; Reaching For Yield; Risk Taking; Fund Exit; Unconventional Monetary Policy; Investment Funds; Interest Rates
Di Maggio, Marco, and Marcin Kacperczyk. "The Unintended Consequences of the Zero Lower Bound Policy." Journal of Financial Economics 123, no. 1 (January 2017): 59–80.
- June 2024
- Case
Alignvest Student Housing: Keep Building or Time to Sell?
By: Shikhar Ghosh and Patrick Sanguineti
Sanjil Shah, Managing Partner of Alignvest Student Housing REIT (ASH), faces the most significant decision thus far in his career: is it the right time to sell the company? Together with his partner Reza Satchu, Shah had developed ASH into the largest student housing... View Details
Keywords: Exit Strategy; Real Estate; Founder; Equity Valuation; Decisions; Entrepreneurial Finance; Interest Rates; Health Pandemics; Housing; Partners and Partnerships; Expansion; Entrepreneurship; Business Exit or Shutdown; Canada
Ghosh, Shikhar, and Patrick Sanguineti. "Alignvest Student Housing: Keep Building or Time to Sell?" Harvard Business School Case 824-208, June 2024.
- June 2017
- Teaching Note
The U-Turns of National Truck Stops
By: Nori Gerardo Lietz and Alexander W. Schultz
Raj Makam had spent months trying to restructure a 2006 investment he had made in National Truck Stops, Inc. (“NTS”) as a senior member of Oaktree Capital Management’s (“Oaktree”) Mezzanine finance business within their Corporate Debt platform. It was the first time... View Details
- April 2017 (Revised August 2020)
- Case
The U-Turns of National Truck Stops
By: Nori Gerardo Lietz and Alexander W. Schultz
Raj Makam had spent months trying to restructure a 2006 investment he had made in National Truck Stops, Inc. (NTS) as a senior member of Oaktree Capital Management’s (Oaktree) Mezzanine finance business within their Corporate Debt platform. It was the first time they... View Details
Keywords: Mezzanine Financing; Corporate Debt; Bankruptcy; Real Assets; Financing and Loans; Borrowing and Debt; Insolvency and Bankruptcy; Restructuring; Private Equity; Cost vs Benefits; Atlanta; New York (city, NY)
Lietz, Nori Gerardo, and Alexander W. Schultz. "The U-Turns of National Truck Stops." Harvard Business School Case 217-062, April 2017. (Revised August 2020.)
- August 2014
- Article
Mortgage Convexity
By: Samuel G. Hanson
Most home mortgages in the United States are fixed-rate loans with an embedded prepayment option. When long-term rates decline, the effective duration of mortgage-backed securities (MBS) falls due to heightened refinancing expectations. I show that these changes in MBS... View Details
Hanson, Samuel G. "Mortgage Convexity." Journal of Financial Economics 113, no. 2 (August 2014): 270–299. (Internet Appendix Here.)
- May 1991 (Revised December 1994)
- Case
State of Connecticut Municipal Swap
By: Andre F. Perold
The state of Connecticut wants to raise $325 million of long-term fixed-rate debt. One alternative is to do this synthetically--issue long-term variable rate debt and enter into an interest rate swap. The case is a vehicle for analyzing various floating rate structures... View Details
Keywords: Borrowing and Debt; Credit Derivatives and Swaps; Interest Rates; Taxation; Management Analysis, Tools, and Techniques; Risk and Uncertainty; New England
Perold, Andre F. "State of Connecticut Municipal Swap." Harvard Business School Case 291-024, May 1991. (Revised December 1994.)
- 09 Feb 2022
- News
When Will Hot Housing Market Finally Start to Cool?
- March 1993 (Revised July 2008)
- Case
Liability Management at General Motors
By: Peter Tufano
An analyst at General Motors charged with managing the structure of the automaker's debt must decide whether and how to modify the interest rate exposure of the firm's most recent debt offering. The analyst must take into consideration GM's liability management policy... View Details
Keywords: Borrowing and Debt; Capital Structure; Financial Management; Interest Rates; Risk Management; Auto Industry; North America
Tufano, Peter. "Liability Management at General Motors." Harvard Business School Case 293-123, March 1993. (Revised July 2008.)
- August 1989 (Revised January 1992)
- Case
Prospect Hill
By: William J. Poorvu and Katherine Sweetman
Bill Hassett, a partner in the Nelson Companies, has to make some important decisions regarding the expansion of Prospect Hill Executive Office Park in Waltham, Massachusetts. The pre-development issues concerning him about the Hillside Building include how to position... View Details
Keywords: Expansion; Growth and Development Strategy; Property; Decisions; Interest Rates; Urban Development; Organizational Structure; Real Estate Industry; Massachusetts
Poorvu, William J., and Katherine Sweetman. "Prospect Hill." Harvard Business School Case 390-011, August 1989. (Revised January 1992.)
- March 2016
- Article
An Analysis of Firms' Self-reported Anticorruption Efforts
By: Paul M. Healy and George Serafeim
We use Transparency International's ratings of self-reported anticorruption efforts for 480 corporations to analyze factors underlying the ratings. Our tests examine whether these forms of disclosure reflect firms' real efforts to combat corruption or are cheap talk.... View Details
Keywords: Corruption; Corporate Performance; Growth; Disclosure; Disclosure Strategy; Sustainability; Crime and Corruption; Corporate Disclosure; Performance; Sales
Healy, Paul M., and George Serafeim. "An Analysis of Firms' Self-reported Anticorruption Efforts." Accounting Review 91, no. 2 (March 2016): 489–511.
- 16 Oct 2018
- First Look
New Research and Ideas, October 16, 2018
input more valuable. Distributed supermodular complementarity (DSMC) exists when two or more independent actors can create complementary value by pursuing their own interests and will not find it advantageous to combine in order to... View Details
Keywords: Dina Gerdeman
- Article
Variance-Minimizing Monetary Policies with Lagged Price Adjustment and Rational Expectations
By: Jerry R. Green and Seppo Honkapohja
This paper considers a macroeconomic model with rational expectations in which prices are incompletely flexible. Markets therefore fail to clear. In such a model monetary policy is not neutral. The variance of real and nominal quantities and interest rates is sensitive... View Details
Green, Jerry R., and Seppo Honkapohja. "Variance-Minimizing Monetary Policies with Lagged Price Adjustment and Rational Expectations." European Economic Review 20, nos. 1-3 (January 1983): 123–141.