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Finance - Faculty & Research

SVB By: Samuel Antill , Marco Sammon and Erik Stafford May 2025 | Case | Faculty Research Citation Educators Related Antill, Samuel, Marco Sammon, and Erik Stafford. "First... View Details

December 2019
Case

The Business of Pain: Johnson & Johnson and the Promise of Opioids

By: Erik Snowberg, Trevor Fetter and Amy W. Schulman

This case is designed to provide an engrossing overview of stakeholder capitalism through a vigorous discussion of the conflicts that can arise when trying to serve multiple stakeholders. In 2007, Johnson & Johnson’s (J&J) subsidiary Janssen has to decide whether or... View Details

Keywords: Opioids; Addiction; Stakeholder Capitalism; Business and Stakeholder Relations; Product Launch; Decision Making; Ethics; Social Issues; Pharmaceutical Industry

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Behavioral Finance & Financial Stability

clients. See Marco’s other research here , Francesco’s other research here , and Amir’s other research here . More Info Do Banks have an Edge? By: Juliane Begenau & Erik Stafford NOV 2019 View Details

August 2001 (Revised April 2002)
Case

Strategic Capital Management, LLC (A)

By: Mark L. Mitchell, Erik Stafford and Todd Pulvino

Strategic Capital Management, LLC, is a hedge fund that is planning to make financial investments in Creative Computers and Ubid. Creative Computers recently sold approximately 20% of its Internet auction subsidiary, Ubid, to the public at $15 per share. Ubid's stock... View Details

Keywords: Risk and Uncertainty; Business Subsidiaries; Internet and the Web; Investment Funds; Price; Performance Efficiency; Capital Markets; Auctions; Investment Return; Equity; Planning; Financial Services Industry

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Podcasts - Managing the Future of Work

office. Read the Transcript Previous Episodes Upwork’s Hayden Brown on bridging volatility with contingency 08 MAY 2025 | Managing the Future of Work "Freelance by choice" can sound like a rationalization—or putting on a brave face—but... View Details

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People - Behavioral Finance & Financial Stability

articles. Shleifer is an Editor of the Quarterly Journal of Economics, and a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Finance Association. In 1999, Shleifer won the John Bates Clark medal of the American Economic... View Details

April 2008 (Revised December 2008)
Case

Leveraged Loans 2007

By: Andre F. Perold and Erik Stafford

The leveraged loan market was in a crisis during the summer of 2007, following many years of low realized volatility (less than 4% per annum), an index of leveraged loans had fallen over 5% in the month of July. A sudden drop in capital market prices for an asset class... View Details

Keywords: History; Financial Liquidity; Investment; Financial Crisis; Market Transactions; Disruption; Decision Choices and Conditions; Competitive Strategy; Capital Markets; Crisis Management; Commercial Banking; Banking Industry; Financial Services Industry

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Past Programs - Crossover Into Business

Hockey Antonina Skobina Ballroom Dance Durham Smythe NFL Denard Span MLB Courtney Celeste Spears Alvin Ailey ADT Imani Stafford WNBA Cory Stearns Ballet Azurá Stevens WNBA Jordan Stewart MLS Aldila Sutjiadi WTA William Sweet III NFL View Details

2019
Working Paper

Do Banks Have an Edge?

By: Juliane Begenau and Erik Stafford

Overall, no! We show that the level and time series variation in cash flows for most bank activities are well matched by capital market portfolios with similar interest rate and credit risk to what banks report to hold. Ignoring operating expenses, bank loans earn high... View Details

Keywords: Banks; Market Efficiency; Bank Capital; Bank Debt; CAPM; Banking; Bank Deposits; Bank Funding Advantage; Leverage; Maturity Transformation; Replicating Portfolio; Efficiency; Banks and Banking; Capital Markets; Performance Evaluation; Performance Efficiency; Banking Industry; United States

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March 2008
Course Overview Note

Dynamic Markets

By: Joshua D. Coval and Erik Stafford

The Dynamic Markets course at Harvard Business School is organized around the hands-on application of financial decision making in a wide variety of capital market settings. The course relies heavily on in-class simulations of a range of market settings where students... View Details

Keywords: Value Creation; Decision Making; Capital Markets; Competitive Strategy; Profit; Applications and Software; Information; Strategy; Price; Outcome or Result; Curriculum and Courses; Theory

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Podcast - Business & Environment

packaging waste by building a reusable container system for restaurants, canteens, and major events. He explains why deposit-based systems often fail, how Vytal’s “borrow and return” model changes consumer behavior, and how data,... View Details

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In The Classroom - Behavioral Finance & Financial Stability

Hanson , Erik Stafford & Luis M. Viceira OCT 2012 (REVISED JUN 2015) | Harvard Business School Case 213-051 View Details H Partners and Six Flags By: Robin Greenwood , Julie Messina & Jared Dourdeville MAY... View Details

09 Feb 2023
Blog Post

The Sixth Year of Short Intensive Programs (SIPs) at HBS

experiences of leading investors and entrepreneurs, including Erik Snyder of the Drawdown Fund, Scott Jacobs of Generate and Rodi Guidero of Breakthrough Energy. The final phase of the SIP focused on common challenges faced View Details

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Finance Awards & Honors - Faculty & Research

2004), with Adam Jaffe, was selected by The Economist as one of the Best Business and Economics Books of the Year. Erik Stafford : Nominated in 2004 for the Brattle Prize for... View Details

23 Jan 2018
First Look

First Look at New Research and Ideas, January 23, 2018

https://www.hbs.edu/faculty/Pages/item.aspx?num=53811 Do Banks Have an Edge? By: Begenau, Juliane, and Erik Stafford Abstract—We decompose bank activities into passive and active components and evaluate the... View Details

Keywords: Sean Silverthorne

March 2011
Case

Valuation of AirThread Connections

By: Erik Stafford and Joel L. Heilprin

This case can be used as a capstone valuation exercise for first-year MBA students in an introductory finance course. A senior associate in the business development group at American Cable Communications, one of the largest cable companies in the U.S., must prepare a... View Details

Keywords: Communication; Present Value; Tax Accounting; Capital Costs; Synergy; Telephony; Wireless Technologies; Communication Technology; Assets; Cost of Capital; Valuation; Cash Flow; Capital Structure; Accounting; Wireless Technology; Communications Industry; Media and Broadcasting Industry