Publications

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November 2000 (Revised March 2001)
Case

Yale University Investments Office: July 2000

By: Josh Lerner

David Swensen, chief investment officer at Yale University, reviews the $10 billion endowment strategy, that places an unusually heavy emphasis on private equity and other illiquid securities. Changing market conditions in July 2000 cause him to rethink historically... View Details

Keywords: Private Equity; Financial Liquidity; Investment; Strategy; Education Industry

Educators

April 2011 (Revised June 2014)
Case

Securities Lending After the Financial Crisis

By: Robert C. Pozen and Gayle Hameister

In April 2009, Wendy Jefferson had just returned to her office following a whirlwind day of meetings with her newest client, Star Advisor. Jefferson, a financial services consultant, was eager to dig into the information provided to her and her team about the Star... View Details

Keywords: Business Earnings; Debt Securities; Financing and Loans; Investment Funds; Governing Rules, Regulations, and Reforms; Information

Educators

01 Oct 1998
News

A Community Investment

the HBS Initiative on Social Enterprise, which focuses its teaching, research, and collaborative efforts on nonprofit organizations, other private social-purpose enterprises, View Details

07 Dec 2016
HBS Case

Why Millennials Flock to Fintech for Personal Investing

Traditional financial advisors cater to baby boomers with substantial savings, requiring minimum amounts for investment upwards of $100,000 to access their services. By contrast, industry-leading Wealthfront... View Details

Keywords: by Michael Blanding; Financial Services

Risks, Opportunities, And Investments In The Era Of Climate Change (ROICC)

The MBA course on "Risks, Opportunities, and Investments in an Era of Climate Change" is ideal for students who aspire to become entrepreneurs by starting their own company or joining a start-up that is driving innovation and solving challenges posed by climate change.... View Details

10 Feb 2010
Working Paper Summaries

Investing in Improvement: Strategy and Resource Allocation in Public School Districts

Keywords: by Stacey Childress; Education

18 Jun 2001
Research & Ideas

Tech Investment the Wise Way

from any innovative venture must be assessed within the framework of a specific business model, which will specify how revenues will be generated, from whom, and what costs will be incurred in so doing. In View Details

Keywords: by Henry Chesbrough & Richard S. Rosenbloom

Web

Behavioral Finance & Financial Stability

policy propagating through banks’ balance sheets are primarily driven by cash flow loans, whereas asset-based credit is mostly insensitive to these types of effects. See Victoria’s other research here , Luc’s View Details

2001
Working Paper

When Does the Market Matter? Stock Prices and the Investment of Equity Dependent Firms

By: Malcolm Baker, Jeremy Stein and Jeffrey Wurgler

We use a simple model of corporate investment to determine when investment will be sensitive to non-fundamental movements in stock prices. The key cross-sectional prediction of the model is that stock prices will have a stronger impact on the investment of firms that... View Details

Keywords: Investment; Equity; Stocks; Price; Mathematical Methods; Forecasting and Prediction

Web

HBS - Financials | From the Chief Financial Officer

expenses. New investments included the build-out of additional hybrid classrooms and conference rooms. These and other infrastructure View Details

01 Mar 2012
News

Social Investing Pioneers

the social impact bond, an innovative approach to marrying social purpose with financial returns for investors. Still in the pilot stage in the UK, social impact bonds already have enthusiastic supporters determined to bring them to the... View Details

Keywords: Roger Thompson; Funds, Trusts, and Other Financial Vehicles; Funds, Trusts, and Other Financial Vehicles; Funds, Trusts, and Other Financial Vehicles; Funds, Trusts, and Other Financial Vehicles

October 2018
Supplement

African Bank Investments Limited (B)

By: Lynn S. Paine and Will Hurwitz

Less than a year after joining the board of African Bank Investments Limited (ABIL), the newest director finds himself in difficult discussions with other directors about removing the struggling company’s CEO. The case is set in South Africa in mid-2014 as shares in... View Details

Keywords: Ethics; Personal Finance; Corporate Accountability; Governing and Advisory Boards; Corporate Governance; Crisis Management; Insurance; Leadership; Management; Risk Management; Financial Services Industry; Financial Services Industry; Financial Services Industry; Africa; South Africa

05 Jun 2015
Blog Post

The HBS Investment

that there could be so much more than this. HBS cost me familiarity. HBS also cost me self-satisfaction. I had achieved a certain level of career success prior to being admitted. This now all pales to what I now expect of myself and the... View Details

28 Apr 2022
Blog Post

Harvard Team Wins Second Place in MIINT Impact Investing Competition

Harvard Business School and Harvard Kennedy School joined together in teams of 5-6 students, sourced investments in high-impact startups, and conducted due diligence on the... View Details

21 Nov 2011
Lessons from the Classroom

The New Challenge of Leading Financial Firms

you're a trader, for example, you have to trade, you have to lead, and you have to manage. You have three jobs." One way leadership of a financial firm differs from others... View Details

Keywords: by Carmen Nobel; Financial Services

August 2017
Article

Should Governments Invest More in Nudging?

By: Shlomo Benartzi, John Beshears, Katherine L. Milkman, Cass R. Sunstein, Richard H. Thaler, Maya Shankar, Will Tucker-Ray, William J. Congdon and Steven Galing

Governments are increasingly adopting behavioral science techniques for changing individual behavior in pursuit of policy objectives. The types of “nudge” interventions that governments are now adopting alter people’s decisions without coercion or significant changes... View Details

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April 2024
Article

Model-based Financial Regulations Impair the Transition to Net-zero Carbon Emissions

By: Matteo Gasparini, Matthew C. Ives, Ben Carr, Sophie Fry and Eric Beinhocker

Investments via the financial system are essential for fostering the green transition. However, the role of existing financial regulations in influencing investment decisions is understudied. Here we analyse data from the European Banking Authority to show that... View Details

Keywords: Climate Change; Investment; Governing Rules, Regulations, and Reforms; Energy Sources

29 Sep 2008
Research & Ideas

Financial Crisis Caution Urged by Faculty Panel

Liquidity vanished. Similar to mortgage-backed securities, highly leveraged loans and other transactions were characterized by a lack of transparency. "When one looked at... View Details

Keywords: by Martha Lagace; Financial Services

September 2022 (Revised September 2024)
Case

Esas Group: Investing Together, Staying Together

By: Christina R. Wing and Alpana Thapar

This case opens in June 2022, after Esas Group, one of Turkey’s largest family-owned investment firms, implements a series of changes to professionalize the business and help transition family members from operators to responsible investors. In December 2019, the Group... View Details

Keywords: Family Business; Transition; Business or Company Management; Organizational Structure; Governing and Advisory Boards; Governance; Financial Services Industry; Turkey

Educators