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Show Results For
- All HBS Web
(5,293)
- People (10)
- News (849)
- Research (3,771)
- Events (20)
- Multimedia (56)
- Faculty Publications (2,597)
- December 1993
- Article
Risk Management: Coordinating Corporate Investment and Financing Policies
By: K. A. Froot, David S. Scharfstein and J. Stein
Keywords: Catastrophe Risk; Corporate Finance; Banking And Insurance; Hedging; Banking; Decision Choice And Uncertainty; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Cost of Capital; Asset Pricing; Insurance Industry
Froot, K. A., David S. Scharfstein, and J. Stein. "Risk Management: Coordinating Corporate Investment and Financing Policies." Journal of Finance 48, no. 5 (December 1993): 1629–1658. (Revised from NBER Working Paper No. 4084, February 1993. Reprinted in RAE-Revista de Administração de Empresas, Management Journal of Fundação Getulio Vargas (FGV-EAESP), Business School for Administration in Sao Paulo, Brazil, volume no. 48, issue no. 1 (January-March 2008): 87-118. Reprinted in Insurance and Risk Management, Volume II, Corporate Risk Management, Part I: Theory on Why and How Firms Manage Risk, Chapter 3, edited by Gregory R. Niehaus, UK: Edward Elgar Publishing Ltd. (October 2008). Also in M.J. Brennan, The Theory of Corporate Finance from The International Library of Critical Writings in Financial Economics, edited by R. Roll, 1995; and in Merton Miller and Chris Culp, eds. Corporate Hedging in Theory and Practice: Lessons from Metallgesellschaft, Risk Books, 1999.)
- October 2016
- Case
Elon Musk: Balancing Purpose and Risk
By: Shikhar Ghosh and Sarah Mehta
The case is used to illustrate the place of ‘Purpose’ versus financial risk and returns in a founder’s objectives. It also addresses personal risk profile of different founders, and when paired with the Risk Tolerance Exercise, it enables evaluating one’s own appetite... View Details
Keywords: Electric Vehicle; Solar Power; Vision; Trade-offs; Leadership; Mission and Purpose; Risk and Uncertainty; Entrepreneurship; Failure; United States; North America
Ghosh, Shikhar, and Sarah Mehta. "Elon Musk: Balancing Purpose and Risk." Harvard Business School Case 817-040, October 2016.
- 2014
- Working Paper
Financing Risk and Innovation
By: Ramana Nanda and Matthew Rhodes-Kropf
We provide a model of investment into new ventures that demonstrates why some places, times, and industries should be associated with a greater degree of experimentation by investors. Investors respond to financing risk―a forecast of limited future funding―by modifying... View Details
Keywords: Business Startups; Venture Capital; Financial Markets; Financing and Loans; Investment; Price Bubble; Innovation and Invention; Technological Innovation; Risk and Uncertainty
Nanda, Ramana, and Matthew Rhodes-Kropf. "Financing Risk and Innovation." Harvard Business School Working Paper, No. 11-013, August 2010. (Revised March 2014.)
- 09 Jun 2009
- Research Event
Business Summit: Enterprise Risk Management
ServicesM.D. Ranganath, Chief Risk Officer, InfosysBarry Zubrow, Chief Risk Officer, JP Morgan Chase The global companies profiled in this session—Infosys, GE Capital Services, and JPMorgan Chase—highlight... View Details
Keywords: Re: Robert S. Kaplan
- 2024
- Working Paper
Finance Without Exotic Risk
By: Pedro Bordalo, Nicola Gennaioli, Rafael La Porta and Andrei Shleifer
We address the joint hypothesis problem in cross-sectional asset pricing by using measured analyst expectations of earnings growth. We construct a firm-level measure of Expectations Based Returns (EBRs) that uses analyst forecast errors and revisions and shuts down any... View Details
Bordalo, Pedro, Nicola Gennaioli, Rafael La Porta, and Andrei Shleifer. "Finance Without Exotic Risk." NBER Working Paper Series, No. 33004, September 2024.
- Research Summary
Time-Varying Volatility Risk Premia
This paper provides evidence for the existence of time-varying volatility risk premia. In doing so, it examines the evolution of the implied volatility bias in the S&P 100 from 1986-2006. Additionally, the paper proves three new results regarding the limiting... View Details
- 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
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.
- 01 Nov 2020
- News
The Risks You Can’t Foresee
- 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
- September 1997
- Background Note
Note on Political Risk Analysis
By: Debora L. Spar
Describes the emergence and subsequent decline of the political risk analysis industry. Discusses what political risk means for multinational firms and various ways in which firms have tried to analyze and grapple with these risks. View Details
Spar, Debora L., Heidi Deringer, and Jennifer Wang. "Note on Political Risk Analysis." Harvard Business School Background Note 798-022, September 1997.
- June 2016
- Article
Local Currency Sovereign Risk
By: Wenxin Du and Jesse Schreger
We introduce a new measure of emerging market sovereign credit risk: the local currency credit spread, defined as the spread of local currency bonds over the synthetic local currency risk-free rate constructed using cross-currency swaps. We find that local currency... View Details
Du, Wenxin, and Jesse Schreger. "Local Currency Sovereign Risk." Journal of Finance 71, no. 3 (June 2016): 1027–1070.
- March 2017
- Article
Artful Paltering: The Risks and Rewards of Using Truthful Statements to Mislead Others
By: Todd Rogers, Richard Zeckhauser, F. Gino, Michael I. Norton and Maurice E. Schweitzer
Paltering is the active use of truthful statements to convey a misleading impression. Across two pilot studies and six experiments, we identify paltering as a distinct form of deception. Paltering differs from lying by omission (the passive omission of relevant... View Details
Rogers, Todd, Richard Zeckhauser, F. Gino, Michael I. Norton, and Maurice E. Schweitzer. "Artful Paltering: The Risks and Rewards of Using Truthful Statements to Mislead Others." Journal of Personality and Social Psychology 112, no. 3 (March 2017): 456–473.
- January 2014 (Revised March 2014)
- Teaching Note
The LEGO Group: Envisioning Risks in Asia (A) and (B)
By: Anette Mikes
- February 2005 (Revised December 2012)
- Background Note
Assessing Accounting Risk
By: David F. Hawkins
Describes a framework that financial analysts can use to assess the likelihood of accounting misstatements in financial statements. View Details
Hawkins, David F. "Assessing Accounting Risk." Harvard Business School Background Note 105-054, February 2005. (Revised December 2012.)
- 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
Baker, Malcolm. "Risk Neglect in Equity Markets." Journal of Portfolio Management 42, no. 3 (Spring 2016): 12–25.
- April 2017
- Article
Financing Risk and Innovation
By: Ramana Nanda and Matthew Rhodes-Kropf
We provide a model of investment into new ventures that demonstrates why some places, times, and industries should be associated with a greater degree of experimentation by investors. Investors respond to financing risk―a forecast of limited future funding―by modifying... View Details
Nanda, Ramana, and Matthew Rhodes-Kropf. "Financing Risk and Innovation." Management Science 63, no. 4 (April 2017): 901–918.
- 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
Perold, Andre F., and Erik Stafford. "2006 Hurricane Risk." Harvard Business School Case 207-075, October 2006. (Revised March 2008.)
- September 2022
- Article
Tone at the Bottom: Measuring Corporate Misconduct Risk from the Text of Employee Reviews
By: Dennis W. Campbell and Ruidi Shang
This paper examines whether information extracted via text-based statistical methods applied to employee reviews left on the website Glassdoor.com can be used to develop indicators of corporate misconduct risk. We argue that inside information on the incidence of... View Details
Keywords: Management Accounting; Management Control; Corporate Culture; Corporate Misconduct; Risk Measurement; Organizational Culture; Crime and Corruption; Risk and Uncertainty; Measurement and Metrics
Campbell, Dennis W., and Ruidi Shang. "Tone at the Bottom: Measuring Corporate Misconduct Risk from the Text of Employee Reviews." Management Science 68, no. 9 (September 2022): 7034–7053.
- 2021
- Article
Internment as a Business Challenge: Political Risk Management and German Multinationals in Colonial India (1914–1947)
By: Christina Lubinski, Valeria Giacomin and Klara Schnitzer
Internment in so-called “enemy countries” was a frequent occurrence in the 20th century and created significant obstacles for multinational enterprises (MNEs). This article focuses on German MNEs in India and shows how they addressed the formidable challenge of the... View Details
Keywords: Internment; Political Risk; International Business; Multinational Firms and Management; Employees; War; History; Outcome or Result; India; Germany
Lubinski, Christina, Valeria Giacomin, and Klara Schnitzer. "Internment as a Business Challenge: Political Risk Management and German Multinationals in Colonial India (1914–1947)." Business History 63, no. 1 (2021): 72–97.
- March 1999 (Revised April 1999)
- Case
Environmental Risk Management at Chevron Corporation
By: Forest L. Reinhardt, Monica M Mandelli and Jennifer Burns
Chevron Corp., headquartered in San Francisco, manages a worldwide, vertically integrated value chain from the oil well to the gasoline station. Mishandling of oil at any stage of production can damage the natural environment, human health, corporate profitability, or... View Details
Keywords: Risk Management; Risk and Uncertainty; Environmental Sustainability; Energy Generation; Supply Chain Management; Metals and Minerals; Management Systems; Management Teams; Trade; Vertical Integration; Energy Industry; Mining Industry
Reinhardt, Forest L., Monica M Mandelli, and Jennifer Burns. "Environmental Risk Management at Chevron Corporation." Harvard Business School Case 799-062, March 1999. (Revised April 1999.)