Publications
Publications
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(4,874)
- Faculty Publications (1,226)
- July 2004 (Revised July 2004)
- Case
Man Group plc
By: Andre F. Perold and Herve Duteil
In 2004, Man Group was the world's largest packager and distributor of investment vehicles tied to hedge funds. The firm had an equity market capitalization of $10 billion and funds under management of $38 billion. Man's offerings spanned a wide range of risk/reward... View Details
- June 2004
- Article
Market Liquidity as a Sentiment Indicator
By: Malcolm Baker and Jeremy Stein
We build a model that helps to explain why increases in liquidity-such as lower bid-ask spreads, a lower price impact of trade, or higher turnover-predict lower subsequent returns in both firm-level and aggregate data. The model features a class of irrational... View Details
- May 2004 (Revised October 2007)
- Background Note
Best Practices: Decision Making Among Venture Capital Firms
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
Describes investment decision-making processes, based on interviews with 56% of the top 38 venture capital firms in the country. Discusses some implications for the future growth of the industry. View Details
- May 2004 (Revised April 2005)
- Case
Prudential Securities
By: Boris Groysberg, Paul M. Healy and Amanda Cowen
Prudential Insurance Co. attempted to diversify into financial services by building an investment banking franchise. Prudential's initial foray into the industry was its acquisition of The Bache Group in 1982. In 2000, the company decided to exit investment banking.... View Details
- April 2004 (Revised May 2005)
- Case
Telecomunicacoes de Sao Paulo SA (Telesp)
By: Lynda M. Applegate, Elizabeth Collins and Ricardo Reisen de Pinho
Set in Brazil during the period of telecommunication's privatization, CEO Manoel Amorim must define a sustainable strategy and build capabilities in his organization. View Details
- 2004
- Working Paper
Regulation and Reaction: The Other Side of Free Banking in Antebellum New York
By: David A. Moss and Sarah Brennan
Free banking, which first appeared in the United States in the late 1830s, comprised two essential features: general incorporation for banks and rigorous security requirements for note issue. Because the general incorporation feature is what allowed free entry, it has... View Details
- March 2004 (Revised June 2004)
- Case
Blackout: August 14, 2003
By: Thomas R. Eisenmann and Ryland Matthew Willis
On August 14, 2003, an electricity blackout cascaded throughout the northeastern United States and Canada. Describes the structure, technology, and economics of the electric utility industry and how gradual deregulation beginning in the 1970s placed unprecedented, and... View Details
- March 2004 (Revised October 2013)
- Case
Innocents Abroad: Currencies and International Stock Returns
By: Mihir A. Desai, Kathleen Luchs, Elizabeth A. Meyer and Mark Veblen
What do international stocks contribute to the portfolio of a U.S. investor? How do currencies interact with stock price movements in determining the benefits of international diversification? This case helps students compare the risks and returns of foreign stock... View Details
Keywords: Diversification; International CAPM; CAPM; Home Bias; Currency Risk; Exchange Rate Risk; International Stock Market Returns; United States; Currency Exchange Rate; Stocks; Financial Markets; International Finance; Investment Return; Currency; Risk and Uncertainty; Emerging Markets; Investment Portfolio; Financial Services Industry; United States; Australia; Canada; China; Germany; India; Japan; United Kingdom
- February 2004
- Case
Czech Mate: CME and Vladimir Zelezny (A)
By: Mihir A. Desai, Alberto Moel and Kathleen Luchs
This case examines how insiders can expropriate value from shareholders in emerging markets when property rights are ill-defined. As such, it provides a platform for considering how institutions and legal rules impact financing patterns and economic outcomes. CME,... View Details
- January 2004
- Background Note
Cross-Border Listings and Depositary Receipts
By: Mihir A. Desai, Maria Raga-Frances, Ami Dave, Mark Veblen and Kathleen Luchs
This case describes the varied instruments that have evolved to facilitate investments in foreign corporations, emphasizing American Depositary Receipts (ADRs) and cross-border listings. It describes the different types of ADRs and the regulatory requirements foreign... View Details
- January 2004 (Revised August 2004)
- Supplement
Innovation at the Treasury: Treasury Inflation-Protection Securities (B)
By: Kenneth A. Froot, Peter A. Hecht and Christopher Edward James Payton
In 1997, the U.S. Treasury was deciding whether to proceed with a proposal to issue inflation-indexed bonds. This case explores the challenges facing innovation in the financial markets as the Treasury tries to determine whether to introduce Treasury... View Details
- January 2004 (Revised June 2004)
- Case
Innovation at the Treasury: Treasury Inflation-Protection Securities (A)
By: Kenneth A. Froot, Peter A. Hecht and Christopher Edward James Payton
In 1997, the U.S. Treasury was deciding whether to proceed with a proposal to issue inflation-indexed bonds. This case explores the challenges facing innovation in the financial markets as the Treasury tries to determine whether to introduce Treasury... View Details
- December 2003 (Revised April 2005)
- Course Overview Note
Corporate Strategy: Course Note for Instructors
By: Bharat N. Anand
Introduces students to the concerns that impact a firm's choice of strategy, scope, and organization and assists in three central tasks that comprise the typical decision problem: diagnosing the sources of corporate advantage, evaluating the limits to such advantage,... View Details
Keywords: Corporate Strategy
- December 2003 (Revised March 2004)
- Case
FIRA: Confronting the Mexican Agricultural Crisis
By: James E. Austin, Michael Chu and Cate Reavis
In fall 2003, Mexico's agriculture sector was facing a crisis brought on largely by a surge in cheap U.S. imports resulting from NAFTA and inaccessible and/or expensive terms of credit for Mexican agricultural producers. It was getting harder for Mexican producers to... View Details
- December 2003
- Case
Fox Bids for the NFL-1993
By: Bharat N. Anand and Catherine M. Conneely
The Fox television network, launched in 1987 by Rupert Murdoch's News Corp. was in a precarious position in 1993. Although it had met its business plan targets, its ratings in the recently concluded November "sweeps" were indifferent, several of its newly launched... View Details
- November 2003 (Revised March 2006)
- Case
Dow Chemical's Bid for the Privatization of PBB in Argentina
By: Mihir A. Desai and Alexandra de Royere
What price should Dow Chemical bid for PBB, a petrochemical complex that is being privatized by the Argentine government? To answer this question, students are forced to consider the role of country risk, the underlying currency exposure of the business, and how to... View Details
- November 2003 (Revised March 2004)
- Case
Drilling South: Petrobras Evaluates Pecom
By: Mihir A. Desai and Ricardo Reisen de Pinho
The Brazilian oil company, Petrobras, is evaluating the acquisition of an Argentine oil company, the Perez Companc Group (Pecom). The acquisition would increase Petrobras' oil reserves and expand its interests outside Brazil, a significant step for the largest company... View Details
Keywords: Mergers and Acquisitions; Forecasting and Prediction; Financial Crisis; Non-Renewable Energy; Cross-Cultural and Cross-Border Issues; Corporate Governance; Risk Management; Emerging Markets; State Ownership; Performance Evaluation; Risk and Uncertainty; Valuation; Energy Industry; Argentina; Brazil
- November 2003 (Revised April 2004)
- Case
Internal Governance and Control at Goldman Sachs: Block Trading
By: Malcolm S. Salter and Ratna Sarkar
Although the explicit problem presented in the case concerns pricing a block trade, the real issue involves the decision-making and oversight processes used to arrive at a price that is appropriate for both the client and Goldman Sachs. Asks students in assignment... View Details
- November 2003 (Revised March 2004)
- Case
Marv Tseu at Active Reasoning
By: William A. Sahlman and Christina Darwall
Describes a set of decisions confronting the management team of an early-stage software company. The company has made considerable progress in developing its software but will need additional capital to move forward. Unfortunately, conditions in the capital market are... View Details
- November 2003
- Article
The Maturity of Debt Issues and Predictable Variation in Bond Returns
By: Malcolm Baker, Robin Greenwood and Jeffrey Wurgler
The maturity of new debt issues predicts excess bond returns. When the share of long-term debt issues in total debt issues is high, future excess bond returns are low. This predictive power comes in two parts. First, inflation, the real short-term rate, and the term... View Details