Publications

02 Mar 2010
First Look

First Look: March 2

Working PapersEquity-Debtholder Conflicts and Capital Structure Authors:Bo Becker and Per Strömberg Abstract We use an important legal event as a natural experiment to examine equity-debt conflicts in the vicinity of financial distress.... View Details

Keywords: Martha Lagace

June 1995
Case

Banc One Corporation (A)

As Banc One's use of derivatives had proliferated, investors and analysts had expressed increasing concern about the size of derivative portfolios, the potential sensitivity of their value to interest rate swings, and the lack of standardized reporting on their use.... View Details

Keywords: Credit Derivatives and Swaps; Investment Banking; Financial Reporting; Annual Reports; Banking Industry

June 2009 (Revised May 2013)
Case

Australia: The Riches and Challenges of Commodities

By: Laura Alfaro and Renee Kim

Australia's Prime Minister Kevin Rudd faced a daunting task that he never imagined he would have to face when he was elected two years ago. Australia at that time was poised to enter its 17th year of uninterrupted growth. Commodity exports were booming, largely driven... View Details

Keywords: Financial Crisis; Trade; Foreign Direct Investment; Policy; Crisis Management; China; Australia

2025
Working Paper

Performance Capital Flows in DC Pensions

By: Bryan Gutierrez Cortez, Victoria Ivashina and Juliana Salomao

Are defined contribution (DC) pension funds' capital flows sensitive to performance? We examine pressures from individual account holders who can switch their pension managers. Using novel data on retirement accounts for nearly 10 million individuals, we analyze... View Details

Keywords: Investment Funds; Retirement; Risk and Uncertainty; Financial Management; Investment Portfolio; Financial Services Industry

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January 2007 (Revised April 2008)
Case

The Case of the Unidentified Industries - 2006

By: William E. Fruhan Jr.

Helps students to understand how the characteristics of a business are reflected in its financial statements. View Details

Keywords: Financial Statements; Business Ventures; Forecasting and Prediction; Financial Management

October 1999 (Revised October 2000)
Case

Coca-Cola Company (A), The

By: David F. Hawkins

In order to fully appreciate Coca-Cola's profitability, financial risk, and operating risk, Jane Wilson, a security analyst, is considering preparing a consolidated financial statement for Coca-Cola analyzing Coca-Cola Enterprises as a fully consolidated entity. View Details

Keywords: Accounting Audits; Financial Statements; Business Earnings; History; Private Sector; Business Units; Consolidation; Organizations; Operations; Private Ownership; Consumer Products Industry; Food and Beverage Industry

14 Jul 2015
First Look

First Look: July 14, 2015

current estimates placing financial losses at greater than $3.7 trillion dollars annually. Unfortunately, fraud prevention has been stymied by lack of a clear and comprehensive understanding of its underlying causes and mechanisms. In... View Details

Keywords: Sean Silverthorne

Web

Doctoral

the changing world of business, society, and education. PhD Programs Accounting & Management Business Economics (Includes Finance) Health Policy (Management) Marketing Organizational Behavior Strategy Technology & Operations Management... View Details

March 2022 (Revised August 2022)
Case

Swvl: Smart Mobility for the Masses

By: Krishna Palepu, Esel Çekin and Menna Hassan

The case focuses on strategy and governance issues at Swvl, a tech-enabled mass mobility marketplace. It describes the journey of CEO and Chairman Mostafa Kandil on his journey from founding the company to its listing on Nasdaq. Since its founding in Egypt in 2017,... View Details

Keywords: Corporate Governance; Growth and Development Strategy; Initial Public Offering; Innovation and Invention; Business Startups; Transportation Industry; Technology Industry; Middle East; North Africa

May 2023
Case

CMA CGM: Reducing the Carbon Footprint of Container Shipping

By: Willy C. Shih and Emilie Billaud

Marine transport is the most cost-effective way to move large volumes over long distances, and container shipping is the backbone of international trade in goods. Yet shipping contributed 3% of worldwide greenhouse gas emissions, and the deep-sea segment, which... View Details

Keywords: Container Shipping; Logistic Regression; Trade Links; Decarbonization; Environmental Strategies; Environmental Impact; Globalization; Trade; Environmental Regulation; Logistics; Supply Chain; Governance Compliance; Shipping Industry; European Union; Asia; North America

2025
Working Paper

Heterogeneous Beliefs and Stock Market Fluctuations

By: Odhrain McCarthy and Sebastian Hillenbrand

This paper examines the role of heterogeneous investor beliefs in explaining stock market puzzles. Using survey data, we show that individual investors and investment professionals, such as equity analysts and strategists, form distinct beliefs. These groups rely on... View Details

Keywords: Financial Markets; Valuation; Stocks; Asset Pricing; Investment; Behavioral Finance

SSRN

September 2013
Article

Do Short Sellers Front-Run Insider Sales?

By: Mozaffar N. Khan and Hai Lu

We study the behavior of short sellers as informed market participants and examine potential sources of their information. Using a newly available dataset with high-frequency short sales data, we find evidence of significant increases in short sales immediately prior... View Details

Keywords: Information; Consumer Behavior; Accounting; Financial Services Industry

04 May 2020
News

Investors Rewarded These Signs of Resilience in the Stock Market Crash

December 2009 (Revised September 2014)
Case

TD Canada Trust

By: Dennis Campbell and Brent Kazan

The case illustrates the role of performance measurement and analytics in translating TD-Canada Trust's service model of "comfortable banking" into operational terms. In 2000, in a banking market where consumers and regulators were typically hostile to mergers and... View Details

Keywords: Mergers and Acquisitions; Customer Focus and Relationships; Customer Satisfaction; Commercial Banking; Profit; Balanced Scorecard; Organizational Change and Adaptation; Banking Industry; Canada

03 Feb 2018
Op-Ed

How to Heed BlackRock's Call for Corporate Social Responsibility

do so, investment funds will need to collect new data. The good news is that over the past decades, many initiatives have contributed to developing standards to assess companies’ social performance. The Sustainability View Details

Keywords: by Julie Battilana

December 2007
Article

Applying Modern Risk Management to Equity and Credit Analysis

By: Robert C. Merton

Traditional conventions of accounting and actuarial science distort the valuation of capital risk in corporations with pension plans because under these conventions, pension assets and liabilities are not included in balance sheet calculations. The modern risk... View Details

Keywords: Risk Management; Valuation; Financial Reporting; Decision Making; Credit; Financial Statements; Capital; Equity; Compensation and Benefits

September 2023
Supplement

Icahn Enterprises: Ponzi Scheme or Sound Investment

By: Aiyesha Dey, Jonas Heese and James Weber

Excel Supplement consists of financial statements of Icahn Enterprises and two competitors. View Details

Keywords: Financial Statements

Professor Cash received a Bachelor of Science degree in Mathematics from Texas Christian University; a Master of Science in Computer Science from Purdue University's Graduate School of Mathematical Sciences; and a Doctor of Philosophy in Management Information... View Details

Keywords: accounting industry; accounting industry; accounting industry; accounting industry; accounting industry; accounting industry; accounting industry

September 2015
Teaching Note

Unidentified Industries: Australia 2014

By: Benjamin C. Esty and William E. Fruhan, Jr.

Helps students to understand how the characteristics of a business are reflected in the firm's financial statements. In this exercise, students are given balance sheet data in percentage form (common-size balance sheets) and other selected financial ratios for a set of... View Details

Keywords: Accounting; Finance; Financial Management; Australia