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Show Results For
- All HBS Web
(522)
- News (80)
- Research (388)
- Events (1)
- Multimedia (3)
- Faculty Publications (230)
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- July–August 2014
- Article
How the Other Fukushima Plant Survived
By: Ranjay Gulati, Charles Casto and Charlotte Krontiris
In March 2011, Japan's Fukushima Daiichi nuclear power plant was devastated by three reactor explosions and two core meltdowns in the days following a 9.0 earthquake and a tsunami that produced waves as high as 17 meters. The world is familiar with Daiichi's fate; less... View Details
Gulati, Ranjay, Charles Casto, and Charlotte Krontiris. "How the Other Fukushima Plant Survived." Harvard Business Review 92, nos. 7/8 (July–August 2014): 111–115.
- 2009
- Working Paper
Labor Regulations and European Private Equity
By: Ant Bozkaya and William R. Kerr
European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor... View Details
- April 2024
- Article
Demand-and-Supply Imbalance Risk and Long-Term Swap Spreads
By: Samuel G. Hanson, Aytek Malkhozov and Gyuri Venter
We develop and test a model in which swap spreads are determined by end users' demand for
and constrained intermediaries’ supply of long-term interest rate swaps. Swap spreads reflect
compensation both for using scarce intermediary capital and for bearing convergence... View Details
Keywords: Swap Spreads; Credit Derivatives and Swaps; Interest Rates; Risk and Uncertainty; Volatility
Hanson, Samuel G., Aytek Malkhozov, and Gyuri Venter. "Demand-and-Supply Imbalance Risk and Long-Term Swap Spreads." Art. 103814. Journal of Financial Economics 154 (April 2024).
- 11 Aug 2015
- Working Paper Summaries
Structural GARCH: The Volatility-Leverage Connection
Keywords: by Robert F. Engle & Emil N. Siriwardane
- December 2018
- Supplement
iyzico: Fundraising in Emerging Markets (B)
By: Marco Di Maggio and Gamze Yucaoglu
The case opens in July 2016 as Barbaros Ozbugutu, co-founder and CEO of the Istanbul-based payment technology start-up iyzico, contemplates the pros and cons of the different term sheets the company has received for its Series C round. The case then informs the reader... View Details
Keywords: Iyzico; Fundraising; Business Startups; Venture Capital; Emerging Markets; Negotiation Offer; Decision Choices and Conditions
Di Maggio, Marco, and Gamze Yucaoglu. "iyzico: Fundraising in Emerging Markets (B)." Harvard Business School Supplement 219-065, December 2018.
- 2009
- Working Paper
Labor Regulations and European Private Equity
By: Ant Bozkaya and William R. Kerr
European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor... View Details
Keywords: Venture Capital; Private Equity; Insurance; Investment; Governing Rules, Regulations, and Reforms; Taxation; Employment; Europe
Bozkaya, Ant, and William R. Kerr. "Labor Regulations and European Private Equity." Harvard Business School Working Paper, No. 08-043, December 2009.
- 2010
- Working Paper
Medium Term Business Cycles in Developing Countries
By: Diego A. Comin, Norman Loayza, Farooq Pasha and Luis Serven
We build a two-country asymmetric DSGE model with two features: (i) endogenous and slow diffusion of technologies from the developed to the developing country, and (ii) adjustment costs to investment flows. We calibrate the model to match the Mexico-U.S. trade and FDI... View Details
Keywords: Business Cycles; Developing Countries and Economies; Trade; International Finance; Foreign Direct Investment; Mathematical Methods; Mexico; United States
Comin, Diego A., Norman Loayza, Farooq Pasha, and Luis Serven. "Medium Term Business Cycles in Developing Countries." Harvard Business School Working Paper, No. 10-029, October 2009. (Revise and resubmit at the American Economic Journal: Macroeconomics.)
- Article
Reaching for Yield in the Bond Market
By: Bo Becker and Victoria Ivashina
Reaching for yield—the propensity to buy riskier assets in order to achieve higher yields—is believed to be an important factor contributing to the credit cycle. This paper analyzes this phenomenon in the corporate bond market. Specifically, we show evidence for... View Details
Keywords: Fixed Income; Reaching For Yield; Financial Intermediation; Insurance Companies; Insurance; Assets; Bonds; Investment Return; Investment Portfolio; Risk Management; Insurance Industry
Becker, Bo, and Victoria Ivashina. "Reaching for Yield in the Bond Market." Journal of Finance 70, no. 5 (October 2015): 1863–1902.
- December 1998
- Background Note
Cash Management Practices in Small Companies
By: H. Kent Bowen, Andrew R. Jassy, Laurence E. Katz, Kevin E. Kelly and Baltej Kochar
Most small business managers claim that cash management is their leading concern. Often walking a tightrope between growth and illiquidity, small business managers face different cash management challenges than their counterparts in larger companies. Compared to larger... View Details
Keywords: Motivation and Incentives; Working Capital; Management Practices and Processes; Organizational Design; Cash; Forecasting and Prediction; Policy; Business Strategy
Bowen, H. Kent, Andrew R. Jassy, Laurence E. Katz, Kevin E. Kelly, and Baltej Kochar. "Cash Management Practices in Small Companies." Harvard Business School Background Note 699-047, December 1998.
- March 2005
- Article
Sovereign Debt As a Contingent Claim: A Quantitative Approach
By: Laura Alfaro and Fabio Kanczuk
We construct a dynamic equilibrium model with contingent service and adverse selection to quantitatively study sovereign debt. In the model, benefits of defaulting are tempered by higher future interest rates. For a wide set of parameters, the only equilibrium is one... View Details
Keywords: Sovereign Finance; Borrowing and Debt; Interest Rates; Balance and Stability; Risk and Uncertainty; Risk Management; Mathematical Methods; Management Style; Segmentation; Debt Securities; Banking Industry
Alfaro, Laura, and Fabio Kanczuk. "Sovereign Debt As a Contingent Claim: A Quantitative Approach." Journal of International Economics 65, no. 2 (March 2005).
- February 1989 (Revised November 1991)
- Case
Science Technology Co.--1985
By: Thomas R. Piper
The CEO of a U.S. electronics firm is assessing the financial forecasts and the financing plan prepared by the chief financial officer. Given the cyclicality of the industry and the volatility of the firm's performance, the CEO is unsure as to the usefulness of... View Details
Keywords: Risk and Uncertainty; Change Management; Industry Growth; Forecasting and Prediction; Financial Strategy; Volatility; Electronics Industry
Piper, Thomas R. "Science Technology Co.--1985." Harvard Business School Case 289-040, February 1989. (Revised November 1991.)
- March 2020
- Article
Estimating the Value of Electricity Storage in PJM: Arbitrage and Some Welfare Effects
By: Ramteen Sioshansi, Paul Denholm, Thomas Jenkin and Jurgen Weiss
Significant increases in prices and price volatility of natural gas and electricity have raised interest in the potential economic opportunities for electricity storage. The paper analyzes the arbitrage value of a price-taking storage device in PJM during the six-year... View Details
Sioshansi, Ramteen, Paul Denholm, Thomas Jenkin, and Jurgen Weiss. "Estimating the Value of Electricity Storage in PJM: Arbitrage and Some Welfare Effects." Energy Economics 31, no. 2 (March 2020): 269–277.
- August 2006
- Article
Investor Sentiment and the Cross Section of Stock Returns
By: Malcolm Baker and Jeffrey Wurgler
We examine how investor sentiment affects the cross-section of stock returns. Theory predicts that a broad wave of sentiment will disproportionately affect stocks whose valuations are highly subjective and are difficult to arbitrage. We test this prediction by... View Details
Keywords: Behavioral Finance; Stocks; Investment Return; Forecasting and Prediction; Motivation and Incentives; Risk and Uncertainty; Volatility
Baker, Malcolm, and Jeffrey Wurgler. "Investor Sentiment and the Cross Section of Stock Returns." Journal of Finance 61, no. 4 (August 2006): 1645–1680.
- 22 Jul 2014
- Working Paper Summaries
Banks as Patient Fixed-Income Investors
- 30 Oct 2006
- First Look
First Look: October 31, 2006
accounting, improve price and volatility discovery, and expand international risk intermediation activities. Download working paper: http://www.hbs.edu/research/pdf/07-026.pdf Cases & Course MaterialsC. R. Smith and the Birth of... View Details
Keywords: Sean Silverthorne
- 05 Jul 2006
- Working Paper Summaries
Do Managers’ Heuristics Affect R&D Performance Volatility? A Simulation Informed by the Pharmaceutical Industry
- June 2023
- Case
Block: Creating an Ecosystem of Ecosystems
By: Lauren Cohen, Richard Ryffel, Grace Headinger and Ruoshi Qi
At Investor Day 2022, Block announced a new vision for its businesses: creating an ecosystem of ecosystems. Outside the norm for many public growth companies, Block had recently acquired a variety of new business streams in the creator economy and Bitcoin despite a... View Details
Keywords: Business Growth; Fintech; Company Management; Growth Strategy; Innovation And Strategy; Acquisition; Business Growth and Maturation; Business Model; Change; Finance; Growth Management; Growth and Development Strategy; Innovation Strategy; Technological Innovation; Communication Strategy; Corporate Strategy; Business Strategy; Financial Services Industry; Technology Industry; United States; California; San Francisco
Cohen, Lauren, Richard Ryffel, Grace Headinger, and Ruoshi Qi. "Block: Creating an Ecosystem of Ecosystems." Harvard Business School Case 223-055, June 2023.
- 2012
- Book
Uncommon Service: How to Win by Putting Customers at the Core of Your Business
By: Frances Frei and Anne Morriss
Most companies treat service as a low-priority business operation, keeping it out of the spotlight until a customer complains. Then service gets to make a brief appearance—for as long as it takes to calm the customer down and fix whatever foul-up jeopardized the... View Details
Frei, Frances, and Anne Morriss. Uncommon Service: How to Win by Putting Customers at the Core of Your Business. Cambridge: Harvard Business Review Press, 2012.
- Research Summary
Sovereign Debt as a Contingent Claim: A Quantitative Approach (joint with Fabio Kanczuk)
By: Laura Alfaro
We construct a dynamic equilibrium model with contingent service and adverse selection to quantitatively study sovereign debt. In the model, benefits of defaulting are tempered by higher future interest rates. For a wide parameter, the only equilibrium is one in which... View Details
- Article
Waves in Ship Prices and Investment
By: Robin Greenwood and Samuel G. Hanson
We study the link between investment boom and bust cycles and returns on capital in the dry bulk shipping industry. We show that high current ship earnings are associated with high used ship prices and heightened industry investment in new ships, but forecast low... View Details
Greenwood, Robin, and Samuel G. Hanson. "Waves in Ship Prices and Investment." Quarterly Journal of Economics 130, no. 1 (February 2015): 55–109.