Publications

July 2003 (Revised December 2003)
Case

Investment Policy at New England Healthcare

By: Jay O. Light, Luis M. Viceira and Akiko M. Mitsui

The Investment Committee of New England Healthcare must decide how to invest three long-term investment pools: a long-term, endowment-type fund and two pension plans. In particular, the committee is evaluating whether the two pension funds--one is a "final salary"... View Details

Keywords: Decisions; Asset Management; Investment; Investment Portfolio; Policy; Taxation; Health Industry; England

June 2003 (Revised August 2003)
Case

Pension Policy at The Boots Company PLC

By: Luis M. Viceira and Akiko M. Mitsui

In early 2000, the trustees of the pension scheme at Boots considered a proposal to move 100% of the pension assets into a bond portfolio, which would be passively managed. The Boots Co. PLC was a leading retailer of cosmetics and toiletries in the United Kingdom, and... View Details

Keywords: Performance Productivity; Employees; Asset Management; Capital Structure; Investment Portfolio; Consumer Products Industry; United Kingdom

March 2003
Case

Investing in Japan

By: Peter A. Hecht and Luis M. Viceira

The evolution of the macroeconomic environment, capital markets, financial institutions (including banks, public and private pension funds, and mutual funds), and financial regulation in Japan during the period 1980 to 2002, are examined long-term demographic... View Details

Keywords: Capital Markets; Investment; Financial Institutions; Macroeconomics; Japan

June 2002
Teaching Note

Harvard Management Company and Inflation-Protected Bonds,The (TN)

Teaching Note for (9-201-053). View Details

Keywords: Financial Services Industry; United States

2002
Book

Strategic Asset Allocation: Portfolio Choice for Long-Term Investors

By: John Y. Campbell and Luis M. Viceira

Keywords: Investment Portfolio

2001
Book

Appendix to 'Strategic Asset Allocation: Portfolio Choice for Long-Term Investors'

By: Luis M. Viceira and John Y. Campbell

Keywords: Strategy; Resource Allocation; Assets; Decision Choices and Conditions; Investment

April 2001
Article

Optimal Portfolio Choice for Long-Horizon Investors with Nontradable Labor Income

March 2001
Article

Who Should Buy Long-Term Bonds?

By: John Y. Campbell and Luis M. Viceira

Keywords: Bonds

December 2000
Supplement

Harvard Management Company & Inflation-Protected Bonds

Spreadsheet to (9-201-053). Download only. View Details

December 2000
Supplement

Harmonized Savings Plan at BPAmoco

Spreadsheet to (9-201-052). Download only. View Details

Keywords: Financial Services Industry; United States; North and Central America

2000
Other Unpublished Work

Asset Allocation with Endogenous Labor Income: The Case of Incomplete Markets

By: Luis M. Viceira and Yeung Lewis Chan

October 2000 (Revised February 2007)
Case

Harvard Management Company and Inflation-Protected Bonds, The

In March 2000, the board of The Harvard Management Co. (HMC) approved significant changes in the policy portfolio determining the long-run allocation policy of the Harvard University endowment. These changes included a sharp reduction of the allocation to U.S. equities... View Details

Keywords: Bonds; Investment Portfolio; Investment Funds; Asset Management; Corporate Governance; Capital Markets; Financial Services Industry; United States

October 2000 (Revised November 2000)
Case

Harmonized Savings Plan at BP Amoco, The

On August 11, 1998, United States' Amoco Corp. (NYSE: AR) and the British Petroleum Co. (BP) p.l.c. (NYSE: BP) announced the BPC merger with Amoco. This deal was the largest industrial merger to date, and created the world's third-largest oil company, BP (NYSE: BP).... View Details

Keywords: Financial Strategy; Mergers and Acquisitions; Compensation and Benefits; Energy Industry; North and Central America

March 2000
Case

Dell Computer Corporation: Share Repurchase Program

By: George C. Chacko and Luis M. Viceira

Dell Computer Corp. announced a share repurchase program shortly after a significant stock price drop. In this announcement, the company also states that it will use options contracts. This case looks at the options transactions and how they relate to Dell's employee... View Details

Keywords: Financial Strategy; Stock Options; Employee Stock Ownership Plan; Computer Industry

2000
Other Unpublished Work

Do Executive Stock Options Encourage Risk-Taking?

By: Randolph B. Cohen, Brian J. Hall and Luis M. Viceira

Executive stock options create incentives for executives to manage firms in ways that maximize firm market value. Since options increase in value with the volatility of the underlying stock, executive stock options provide managers with incentives to take actions that... View Details

Keywords: Risk and Uncertainty; Motivation and Incentives; Stock Options; Executive Compensation

Article

Consumption and Portfolio Decisions When Expected Returns Are Time Varying

By: Luis M. Viceira and John Y. Campbell

1996
Other Unpublished Work

Testing for Structural Change in the Predictability of Asset Returns

Teaching Interest

Investment Management Workshop

Investing and Strategic Decision-Making for Principals, Portfolio Managers, and Executives of Asset Management Firms

For nearly 50 years, the Investment Management Workshop (IMW) has convened the world's top principals, portfolio managers, and... View Details

Teaching Interest

Investment Managment for Professional and Personal Investors