Publications

December 1989
Article

Organizational Changes and Value Creation in Leveraged Buyouts: The Case of O.M. Scott & Sons Company

By: George P. Baker and Karen Wruck

Keywords: Change; Value; Borrowing and Debt; Financial Instruments; Leveraged Buyouts

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04 Apr 2007
Research & Ideas

The Business of Global Poverty

networks, product packaging, and financing instruments to meet the needs and requirements of very poor customers. As members of the School's Global Poverty Project (GPP), Kash Rangan, John Quelch, and other faculty members have studied... View Details

Keywords: by Garry Emmons

06 Dec 2021
Research & Ideas

The Popular Stock Metric That Can Lead Investors Astray

What if a bedrock method that investors have relied on for decades to find cheap-but-promising stocks to buy low and sell high no longer works well? The book-to-market ratio has been used since at least the Great Depression to identify undervalued stocks. But it has... View Details

Keywords: by Rachel Layne

04 Sep 2018
Working Paper Summaries

Investing Outside the Box: Evidence from Alternative Vehicles in Private Capital

Keywords: by Josh Lerner, Jason Mao, Antoinette Schoar, and Nan R. Zhang

2020
Guest Column

Learning from Lehman: Lessons for Today

By: Laura Comstock, Michael Holland and Peter Tufano

Keywords: COVID-19 Pandemic; Financial Crisis; Financial Markets; Financial Instruments

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November 2006 (Revised June 2007)
Teaching Note

Conflict on a Trading Floor (TN) (A) and (B) (LCA)

By: Lynn S. Paine and Aldo Sesia

Keywords: Conflict and Resolution; Stocks

August 2001
Technical Note

Technical Note on Expectations

By: Carliss Y. Baldwin

Reviews the mathematics of expectations embedded in a company's current stock price and the related (whole) enterprise value. Begins by showing how the current stock price can be compounded forward to arrive at an expectation one or more years in the future. Describes... View Details

Keywords: Performance Expectations; Price; Stocks

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November 1994 (Revised March 1995)
Background Note

Capital Projects as Real Options: An Introduction

By: Timothy A. Luehrman

Introduces a framework for evaluating corporate investment projects as call options. Presumes readers are familiar with basic option pricing and basic capital budgeting rules. Explains the motivation for viewing projects as options; presents a mapping between a capital... View Details

Keywords: Financial Instruments; Capital Budgeting; Corporate Finance

June 1985 (Revised August 1994)
Background Note

U.S. Government Debt Market and the Structure of Interest Rates, The

Concerns U.S. Government Debt Market and various conventions used to depict the structure of interest rates. View Details

Keywords: Sovereign Finance; Bonds; Interest Rates

March 2009 (Revised October 2009)
Teaching Note

Washington Mutual's Covered Bonds (TN)

By: Daniel Baird Bergstresser and Robin Greenwood

Teaching Note for [209093]. View Details

Keywords: Banks and Banking; Bonds; Banking Industry

February 2006
Case

Fraikin SA

By: W. Carl Kester, Vincent Marie Dessain and Monika Stachowiak

Provides an example of a so-called "whole business" securitization. In early 2004, Fraikin, France's leading industrial vehicle rental company, compares several alternatives for refinancing a large bridge loan within a year. Presents three primary options: a classic... View Details

Keywords: Debt Securities; Transportation; Renting or Rental; Transportation Industry; Service Industry; France

November 1999 (Revised June 2001)
Case

Seitel, Inc.

By: David F. Hawkins

The company's accounting for its seismic data library is questioned. Teaching Purpose: Inventory accounting. View Details

Keywords: Stock Shares; Financial Statements; Business Earnings; Financial Reporting; Stock Options; Mathematical Methods; Accounting Industry

October 1994
Background Note

Note on Crude Oil and Crude Oil Derivatives Markets

By: Andre F. Perold, Wai Lee and Kuljot Singh

Briefly describes the crude oil markets and common derivatives contracts written on oil. The contracts are oil forward and futures contracts, and over-the-counter oil price swaps. View Details

Keywords: Non-Renewable Energy; Futures and Commodity Futures; Credit Derivatives and Swaps; Contracts; Energy Industry

January 1994
Exercise

Walt Disney Company's Sleeping Beauty Bonds

By: Carliss Y. Baldwin

Walt Disney Co. issues a 100-year bond. This case describes the terms of the bond and immediate capital market reaction. View Details

Keywords: Capital Markets; Cash Flow; Debt Securities; Bonds; Interest Rates; Value

Profile

Ann Chao

instrument is popular, ninety percent of all players quit by age fifteen. "In sports," Ann observes, "the social connectivity helps people stay. But in music, that social aspect isn't as accessible. We don't get that bigger... View Details

01 Sep 2006
News

Innovative Loan Fund Yields Big Returns

she declares. “The School’s enthusiasm was instrumental in bringing other schools around.” Andy O’Brien, chief of operations at HBS, says the loan-fund projects would have been the right thing to do even if the economics had been less... View Details

Keywords: Paul Massari; Construction of Buildings; Construction; Business Schools & Computer & Management Training; Educational Services

30 Jan 2017
Research & Ideas

Vanguard, Trian And The Problem With 'Passive' Index Funds

On August 31, 2016, many investors celebrated the 40th birthday of one of the world’s most successful financial instruments: the mutual index fund, created by Vanguard founder John C. Bogle. Index funds, which automatically track an index of stocks such as the S&P... View Details

Keywords: by Michael Blanding; Financial Services

2020
Working Paper

Corporate Leadership and Creditor Recovery Rates: Evidence from Executive Gender

By: Clarissa Hauptmann, Syrena Shirley and Anywhere Sikochi

We examine the relationship between the gender of executives and corporate creditor recovery rates. Using 2,288 defaulted debt instruments, we find that female executives are associated with higher creditor recovery rates. Our findings are robust to tests that correct... View Details

Keywords: Executive Gender; Default; Recovery Rates; Debt; Corporate Bonds; Conservatism; Leadership; Gender; Borrowing and Debt; Bonds; Risk Management