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Show Results For
- All HBS Web
(1,843)
- People (4)
- News (139)
- Research (1,461)
- Events (17)
- Multimedia (6)
- Faculty Publications (1,230)
- September 1994 (Revised April 1995)
- Case
Banque Paribas: Paribas Derives Garantis
In March 1993, the management of Paribas Capital Markets is making a final review of the proposal to set up Paribas Derives Garantis (PDG), a special-purpose subsidiary of Compagnie Financiere de Paribas (CFP), that would guarantee derivative products offered by Banque... View Details
Keywords: Credit Derivatives and Swaps; Business Subsidiaries; Banks and Banking; Financial Services Industry
Mason, Scott P., and Kuljot Singh. "Banque Paribas: Paribas Derives Garantis." Harvard Business School Case 295-008, September 1994. (Revised April 1995.)
- Spring 2024
- Article
The Evolution of Banking in the 21st Century: Evidence and Regulatory Implications
By: Samuel Gregory Hanson, Victoria Ivashina, Laura Nicolae, Jeremy C. Stein, Adi Sunderam and Daniel K. Tarullo
As revealed by the failures of three regional banks in the spring of 2023, bank runs are not a thing of the past. To inform the ongoing discussion of the appropriate regulatory response, we examine trends in the banking industry over the last twenty-five years. On the... View Details
Keywords: Financial Instruments; Financial Crisis; Assets; Governing Rules, Regulations, and Reforms; Financial Condition; Banking Industry
Hanson, Samuel Gregory, Victoria Ivashina, Laura Nicolae, Jeremy C. Stein, Adi Sunderam, and Daniel K. Tarullo. "The Evolution of Banking in the 21st Century: Evidence and Regulatory Implications." Brookings Papers on Economic Activity (Spring 2024): 343–389.
- April 2010
- Teaching Note
Groupe Ariel S.A.: Parity Conditions and Cross-Border Valuation (Brief Case)
By: Timothy A. Luehrman and James Quinn
Teaching Note for 4194 View Details
- 2011
- Working Paper
Fractionalization and the Municipal Bond Market
We study the impact of ethnic and religious fractionalization on the U.S. municipal debt market and find that issuers from more ethnically and religiously fractionalized counties pay higher yields on their municipal debt. A two standard deviation increase in religious... View Details
Keywords: Ethnicity Characteristics; Bonds; Financial Markets; Investment Return; Geographic Location; City; Religion; United States
Bergstresser, Daniel, Randolph Cohen, and Siddharth Shenai. "Fractionalization and the Municipal Bond Market." Harvard Business School Working Paper, No. 11-128, June 2011.
- January 1990 (Revised March 1994)
- Case
Royal Ahold NV
By: Richard F. Meyer
Contains a general description of a large international retailer. Focus is on the major financial risks facing the company: exchange rate risk and commodity price risk. This case is an introduction to financial risk management. It poses some of the major problem areas. View Details
Keywords: Risk Management; Currency Exchange Rate; Futures and Commodity Futures; Trade; Distribution; Financial Services Industry
Meyer, Richard F. "Royal Ahold NV." Harvard Business School Case 190-113, January 1990. (Revised March 1994.)
- June 2007 (Revised January 2009)
- Case
Nextel Partners: Put Option
By: Timothy A. Luehrman and Douglas Scott
Nextel Partners' shareholders have voted to exercise a put option that will require the company's largest shareholder, Sprint Nextel Corp., to purchase all the shares it does not already own. However, the put option does not stipulate a price to be paid, but rather a... View Details
Luehrman, Timothy A., and Douglas Scott. "Nextel Partners: Put Option." Harvard Business School Case 207-128, June 2007. (Revised January 2009.)
- 2008
- Working Paper
Long-Run Stockholder Consumption Risk and Asset Returns
By: Christopher J. Malloy, Tobias J. Moskowitz and Annette Vissing-Jorgensen
We provide new evidence on the success of long-run risks in asset pricing by focusing on the risks borne by stockholders. Exploiting micro-level household consumption data, we show that long-run stockholder consumption risk better captures cross-sectional... View Details
Malloy, Christopher J., Tobias J. Moskowitz, and Annette Vissing-Jorgensen. "Long-Run Stockholder Consumption Risk and Asset Returns." Harvard Business School Working Paper, No. 08-060, January 2008.
- March 2002 (Revised October 2002)
- Case
Akamai's Underwater Options (A)
By: Brian J. Hall, Houston Lane and Jonathan Lim
Akamai's stock price declines dramatically with the NASDAQ in 2000, causing virtually all employee options to go underwater. Ownership and retention incentives are largely destroyed, and employee morale falls sharply. Management weighs the pros and cons of various... View Details
Hall, Brian J., Houston Lane, and Jonathan Lim. "Akamai's Underwater Options (A)." Harvard Business School Case 902-069, March 2002. (Revised October 2002.)
- 16 Apr 2019
- First Look
New Research and Ideas, April 16, 2019
capabilities. There is no such impact for firms without this ecosystem of complements. Dynamic panel analysis, instrumental variables, and a variety of robustness checks are used to address measurement error concerns and to add support... View Details
Keywords: Dina Gerdeman
- January 2008
- Background Note
Collateralized Debt Obligations (CDOs)
By: Joshua Coval and Erik Stafford
This lesson integrated Merton's (1974) contingent claims model of debt and equity claims with the CAPM, which allows us to examine the risks and pricing of credit portfolios and the derivative claims issued against them. In particular, this model is used to make... View Details
Keywords: Decision Choices and Conditions; Borrowing and Debt; Credit Derivatives and Swaps; Investment Portfolio; Risk Management
Coval, Joshua, and Erik Stafford. "Collateralized Debt Obligations (CDOs)." Harvard Business School Background Note 208-113, January 2008.
- November 2006
- Case
Selling Biovail Short
By: Malcolm P. Baker, Chris Lombardi and Aldo Sesia
Hedge fund SAC Capital and analysts from Gradient Analytics and Banc of America face charges of stock price manipulation from Biovail, a Canadian pharmaceutical company. Gradient and BofA produced negative reports on Biovail's earnings quality. At the same time, SAC... View Details
Keywords: Stock Shares; Investment Banking; Asset Pricing; Financial Strategy; Crime and Corruption; Pharmaceutical Industry; Financial Services Industry; Canada
Baker, Malcolm P., Chris Lombardi, and Aldo Sesia. "Selling Biovail Short." Harvard Business School Case 207-071, November 2006.
- January 2005 (Revised December 2005)
- Case
KAMCO and the Cross-Border Securitization of Korean Non-Performing Loans
Covers the first international nonperforming loan securitization done in Korea. The CEO of KAMCO is trying to dispose of a portfolio of nonperforming commercial loans that the organization acquired from a number of banks. A group of investment bankers have proposed... View Details
Keywords: Debt Securities; Decision Choices and Conditions; Capital Markets; Financing and Loans; Cross-Cultural and Cross-Border Issues; Financial Services Industry; South Korea
Chacko, George C., Jacob Hook, Vincent Dessain, and Anders Sjoman. "KAMCO and the Cross-Border Securitization of Korean Non-Performing Loans." Harvard Business School Case 205-037, January 2005. (Revised December 2005.)
- February 2025
- Supplement
Align Partners and SM Entertainment: Korean Shareholder Activism Meets K-Pop (B)
By: Charles C.Y. Wang and Billy Chan
Supplements the (A) case, HBS No. 125-065. For years, institutional investors had experienced very limited success in influencing the management of listed companies through shareholder activist campaigns in Korea. The common practice of circular ownership and public... View Details
Keywords: Financial Reporting; Public Equity; Stocks; Investment Activism; Music Entertainment; Corporate Governance; Success; Business and Shareholder Relations; Entertainment and Recreation Industry; South Korea
Wang, Charles C.Y., and Billy Chan. "Align Partners and SM Entertainment: Korean Shareholder Activism Meets K-Pop (B)." Harvard Business School Supplement 125-066, February 2025.
- fall 2010
- Article
Lawsuits and Empire: On the Enforcement of Sovereign Debt in Latin America
By: Faisal Z. Ahmed, Laura Alfaro and Noel Maurer
The re-occurring phenomenon of sovereign default has prompted an enormous theoretical and empirical literature. Most of this research has focused on why countries ever chose to pay their debts (or why private creditors ever expected repayment). The problem originates... View Details
Keywords: Lawsuits and Litigation; Insolvency and Bankruptcy; Sovereign Finance; Borrowing and Debt; Debt Securities; Motivation and Incentives; Markets; Equity; Banking Industry; Latin America
Ahmed, Faisal Z., Laura Alfaro, and Noel Maurer. "Lawsuits and Empire: On the Enforcement of Sovereign Debt in Latin America." Law and Contemporary Problems 73, no. 4 (fall 2010): 39–46.
- January 2005 (Revised March 2008)
- Case
Kohler Co. (A)
Kohler Co., best known for its plumbing fixtures, is a large, private family firm. As part of a recapitalization aimed at preserving family ownership of Kohler Co., nonfamily shareholders, who held 4% of common stock, were required to sell their shares to the company.... View Details
Keywords: Family Business; Capital Structure; Cash Flow; Stocks; Price; Family Ownership; Business and Shareholder Relations; Valuation
Villalonga, Belen, and Raphael Amit. "Kohler Co. (A)." Harvard Business School Case 205-034, January 2005. (Revised March 2008.)
- 03 Mar 2009
- First Look
First Look: March 3, 2009
decisions are endogenous, and 3) influencing stores' choices of strategic variables (e.g., pricing) once they have decided to affiliate. We show that search diversion remains a necessary strategic instrument for the intermediary even when... View Details
Keywords: Martha Lagace
- November 2013 (Revised March 2015)
- Case
Massachusetts Pay-for-Success Contracts: Reducing Juvenile and Young Adult Recidivism
By: V. Kasturi Rangan and Lisa A. Chase
The case describes the nature of juvenile recidivism in Massachusetts and explores the potential structure of a privately funded, publicly guaranteed pay-for-success contract. View Details
Keywords: Social Impact Bonds; Pay-for-success; Social Innovation; Juvenile (Prison) Recidivism; Homelessness; Bonds; Social Issues; Public Administration Industry; Massachusetts
Rangan, V. Kasturi, and Lisa A. Chase. "Massachusetts Pay-for-Success Contracts: Reducing Juvenile and Young Adult Recidivism." Harvard Business School Case 514-061, November 2013. (Revised March 2015.)
- 1 Mar 2002 - 3 Mar 2004
- Conference Presentation
Does governance form matter? Evidence from stock market reactions to acquisitions and alliances
Villalonga, Belen, and Anita M. McGahan. "Does governance form matter? Evidence from stock market reactions to acquisitions and alliances." Paper presented at the Brigham Young University-University of Utah Winter Strategy Conference, March 1, 2002–March 3, 2004. (Also presented at the Strategic Management Society Annual International Conference, Paris, September 2002; MIT Organizational Economics lunch seminar, September 2002; NBER Productivity lunch seminar, Boston, April 2002; Harvard Business School Finance lunch seminar, September 2001; Academy of Management Association Annual Meeting, Washington DC, August 2001; Strategy Research Forum, Northwestern University, May 2001.)
- 2003
- Other Unpublished Work
Short Selling in Practice--Intermediating Uncertain Share Availability
By: Gene M D'Avolio and André Perold
- summer 1975
- Article
Simulation of Bond Portfolio Strategies: Laddered vs. Barbell Maturity Sturctures
By: D. B. Crane and Stephen P. Bradley
Crane, D. B., and Stephen P. Bradley. "Simulation of Bond Portfolio Strategies: Laddered vs. Barbell Maturity Sturctures." Journal of Bank Research 6, no. 2 (summer 1975).