Publications

14 Jun 2016
First Look

June 14, 2016

of the Private Capital Research Institute By: Lerner, Josh, and Leslie Jeng Abstract—Private markets are becoming an increasingly important way of financing rapidly growing and mature firms, and private investors are reputed to have... View Details

Keywords: Sean Silverthorne

29 Jan 2013
First Look

First Look: Jan. 29

some cases down to the source code level. Our study thus extends the concept of IP modularity to comprise the notion of hierarchy levels. Working PapersInflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds... View Details

Keywords: Sean Silverthorne

13 Sep 2012
Research & Ideas

Why Public Companies Underinvest in the Future

short-term bias, boards of public firms must be careful with the type of incentives they set or risk that managers will behave in a way that might harm the long-term interests of the company. "It's important that boards of public... View Details

Keywords: by Maggie Starvish

03 Jun 2020
Research & Ideas

Who Guarantees Your Workplace Is Safe for Return?

Beyond what we can do as individuals to reduce our risks of exposure, are there objective measures employers can use to validate what is effective? The answer, fortunately, is yes. Many claims will be made over the next few weeks and... View Details

Keywords: by John Macomber and Joseph Allen; Real Estate

01 May 2009
What Do You Think?

Do Innovation and Entrepreneurship Have to Be Incompatible with Organization Size?

strong finance and legal teams" as sources of risk aversion. But other respondents concluded that it doesn't have to happen, and proposed antidotes to the phenomenon, starting with David Levine's... View Details

Keywords: by Jim Heskett

13 Feb 2007
First Look

First Look: February 13, 2007

A. Desai, and C. Fritz Foley Abstract This paper examines how costly financial contracting and weak investor protection influence the cross-border operational, financing and investment decisions of firms. We develop a model in which... View Details

Keywords: Martha Lagace

12 Feb 2001
Research & Ideas

Creating Value Across Borders

Europe and Africa because property rights are more difficult to enforce there. —Walter Kuemmerle The first difference is the development of capital markets and the transparency of these markets. In countries where family-owned conglomerates are the main source of View Details

Keywords: by Staff

September 1994 (Revised March 1995)
Case

RailTex, Inc. (A)

By: Norman A. Berg and James Weber

By 1992, RailTex, Inc., had acquired and was operating 23 geographically separate short-line railroads (feeder lines for larger railroads) in Mexico, Canada, and primarily in the United States. Founded in 1977 with $500,000 of capital as a railcar leasing company, the... View Details

Keywords: Acquisition; Business Divisions; Cost Management; Growth and Development; Growth and Development Strategy; Management Systems; Product Marketing; Logistics; Risk and Uncertainty; Valuation

Find at Harvard

06 Jan 2012
Op-Ed

Where Green Corporate Ratings Fail

temperature that could put millions at risk of drought and flooding. Therefore, an exclusive focus on voluntary operational greening including carbon neutrality distracts from the far greater need for climate regulation to achieve the... View Details

Keywords: by Michael Toffel & Auden Schendler; Information; Publishing

30 Oct 2007
First Look

First Look: October 30, 2007

pre-specified limit. Mr. Sattaiah, managing director of the BASIX's bank, considers a revised insurance policy for the coming season, weighing the costs and potential risks of expanding the product against the potential benefits. Purchase... View Details

Keywords: Sean Silverthorne

March 2009 (Revised March 2010)
Case

Groupe Eurotunnel S.A. (A)

By: Stuart C. Gilson, Vincent Marie Dessain and Sarah Abbott

In the summer of 2006, the chairman and CEO of Eurotunnel Group is faced with the decision whether to file for bankruptcy protection, after having failed to gain creditor approval of an ambitious out-of-court restructuring plan. The company, which has been attempting... View Details

Keywords: Restructuring; Capital Structure; Insolvency and Bankruptcy; Laws and Statutes; Risk Management; Rail Industry; France; United Kingdom

03 Dec 2008
What Do You Think?

Can Housing and Credit be “Nudged” Back to Health?

"greed and corruption helped create the crisis, ... simple human frailty played a vital role." They suggest providing incentives to make financial products easier, not more difficult, to understand. This would involve, among other things, more disclosure... View Details

Keywords: by Jim Heskett

February 1994 (Revised July 2008)
Case

Banc One Corporation: Asset and Liability Management

By: Benjamin C. Esty, Peter Tufano and Jon Headley

Banc One's share price has been falling recently due to analyst and investor concern over the bank's heavy use of interest rate derivatives. Dick Lodge, chief investment officer in charge of the bank's investment and derivative portfolio, must recommend to the CEO a... View Details

Keywords: Credit Derivatives and Swaps; Financial Management; Interest Rates; Investment Portfolio; Governance Controls; Risk Management; Banking Industry

20 Jan 2017
Research & Ideas

Here’s How Businessman Trump Is Likely to Approach the Presidency

technology and innovation in ways that streamline interactions with federal agencies, like online form filing. Stars align to fix a broken tax system Mihir Desai, Mizuho Financial Group Professor of Finance and professor of law at Harvard... View Details

Keywords: by Christina Pazzanese

20 Nov 2012
First Look

First Look: November 20

capacity and new products only when attractive, low-risk opportunities are identified and can be funded internally. The firm's culture of risk aversion extends to financing decisions with a clear preference... View Details

Keywords: Sean Silverthorne

January 2021
Case

The FIRE Savings Calculator

By: Michael Parzen and Paul Hamilton

This case follows Carol Muñoz, a member of the Financial Independence, Retire Early (FIRE) lifestyle movement. At the age of 45, Carol is considering retiring and living off the $1 million she has accumulated. Using Monte Carlo simulation, Carol forecasts the... View Details

Keywords: Analysis; Forecasting and Prediction; Financial Strategy; Investment Portfolio; Investment Return; Personal Finance; Saving; Risk and Uncertainty; Diversification; Theory; Personal Development and Career; Financial Services Industry

28 Apr 2009
First Look

First Look: April 28, 2009

from the risk that they will live a long time. The funds that individuals contribute to a MIF are invested in a mutual fund. The proceeds from the fund's underlying assets are reinvested until the contributor dies or he turns an age... View Details

Keywords: Martha Lagace

November 1993 (Revised April 2007)
Case

Continental Airlines--1992 (Abridged)

By: Stuart C. Gilson

The CEO is preparing a recommendation to the board regarding several potential outside investments in the company, which is currently operating in bankruptcy. In making his decision, the CEO has to consider various financial and strategic factors, including possible... View Details

Keywords: Capital Structure; Cash Flow; Cost of Capital; Insolvency and Bankruptcy; Investment; Taxation; Risk and Uncertainty; Valuation; Aerospace Industry; United States