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  • July 2002 (Revised September 2002)
  • Case

Competition in Japanese Financial Markets, 2002 (Abridged)

By: Tarun Khanna
In early 2002, Japan, the world's largest economy, had been mired in a decade-long recession. A range of stimulus packages had failed to work their magic. The "Big Bang" financial deregulation reforms announced in 1998 had not quite produced the economic boom that the... View Details
Keywords: Competition; Financial Markets; Global Strategy; Financial Crisis; Banks and Banking; Banking Industry; Japan
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Khanna, Tarun. "Competition in Japanese Financial Markets, 2002 (Abridged)." Harvard Business School Case 703-407, July 2002. (Revised September 2002.)
  • April 2013
  • Teaching Plan

Barclays and the LIBOR Scandal

By: Clayton S. Rose and Aldo Sesia
In the summer of 2012, Barclays plc, one of the largest banks in the world, agreed to settle with authorities and acknowledged that the firm had manipulated LIBOR (London Inter-Bank Offered Rate)—a benchmark reference rate that was fundamental to the operation of... View Details
Keywords: Financial Systems; Financial Services; Corruption; Regulation; General Management; Management; Leadership; Economic Systems; Crime and Corruption; Ethics; Culture; Banking Industry; Banking Industry; United Kingdom
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Rose, Clayton S., and Aldo Sesia. "Barclays and the LIBOR Scandal ." Harvard Business School Teaching Plan 313-108, April 2013.
  • June 2009 (Revised July 2010)
  • Case

Microfin

By: Michael Chu and Enrique Kramer
The case presents the management dilemmas of a new institution in an undeveloped microfinance market in Latin America. Supported by a globally recognized industry player, it is the result of the efforts of two fledgling local entrepreneurs with a business model they... View Details
Keywords: Business Model; Developing Countries and Economies; Social Entrepreneurship; Microfinance; Governing Rules, Regulations, and Reforms; Industry Structures; Competitive Strategy; Financial Services Industry; Latin America
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Chu, Michael, and Enrique Kramer. "Microfin." Harvard Business School Case 309-126, June 2009. (Revised July 2010.)
  • June 2011 (Revised November 2011)
  • Case

The Expansion of Ping An

By: Robert C. Pozen and Nina Yang
In June 2010, Mingzhe Ma, chairman and chief executive officer of Ping An Insurance (Group) Company of China ("Ping An" or "the Company"), sat down with Sun Jianyi, vice chief executive officer and executive vice president at Ping An, to discuss the future direction of... View Details
Keywords: Acquisition; Business Conglomerates; Conferences; Banks and Banking; Financial Strategy; Insurance; Global Strategy; Leadership Style; Strategic Planning; Opportunities; Diversification; Expansion; China
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Pozen, Robert C., and Nina Yang. "The Expansion of Ping An." Harvard Business School Case 311-133, June 2011. (Revised November 2011.)
  • March 2011 (Revised May 2011)
  • Supplement

China Construction America (B): The Baha Mar Resort Deal

Why is a Chinese state-owned construction company building the largest mega-resort and casino in the Caribbean? This case examines the intricate deal-making by which CSCEC, China's leading global engineering and construction contractor, emerged as a key market player.... View Details
Keywords: Project Finance; Competitive Strategy; Global Strategy; Financial Strategy; Construction Industry; Tourism Industry; China; Bahamas
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Abrami, Regina M., Malcolm Riddell, and Weiqi Zhang. "China Construction America (B): The Baha Mar Resort Deal." Harvard Business School Supplement 911-411, March 2011. (Revised May 2011.)
  • Research Summary

Islamic Financing Practices

By: Samuel L. Hayes
Samuel L. Hayes III is examining (with faculty of Harvard University's Law School and Center for Middle Eastern Studies) Islamic banking and investment practices. Because the Koran prohibits the payment of fixed interest and guarantees on funds invested either with... View Details
  • October 2011 (Revised July 2012)
  • Case

ATR KimEng Financial Corporation

By: Li Jin, Michael Shih-ta Chen and Dawn Lau
ATR KimEng is a Philippino asset management business. It is making an important decision on its own strategy going forward: should it stay independent, or be taken over by a large bank in the region. Through this case, we discuss the financial service industry in South... View Details
Keywords: Asset Management; Mergers and Acquisitions; Capital Markets; Investment; Financial Services Industry; Philippines
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Jin, Li, Michael Shih-ta Chen, and Dawn Lau. "ATR KimEng Financial Corporation." Harvard Business School Case 212-026, October 2011. (Revised July 2012.)
  • May 2013
  • Teaching Plan

High Wire Act: Credit Suisse and Contingent Capital

By: Clayton Rose and David Lane
Late in 2010, Credit Suisse CEO Brady Dougan and his team considered whether or not to issue contingent capital, which Swiss regulators would require by 2019. They faced a number of substantial issues, including: Would contingent capital actually work as conceptualized... View Details
Keywords: Financial Institutions; Capital Markets; Financial Crisis; Decision Choices and Conditions; Leadership; International Finance; Financial Liquidity; Risk and Uncertainty; Competitive Strategy; Financial Services Industry; Switzerland
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Rose, Clayton, and David Lane. "High Wire Act: Credit Suisse and Contingent Capital." Harvard Business School Teaching Plan 313-048, May 2013.
  • Forthcoming
  • Article

The Evolution of Financial Services in the United States

By: Robin Greenwood, Robert Ialenti and David Scharfstein
This article surveys the literature on the historical growth and transformation of the U.S. financial sector. The sector expanded rapidly between 1980 until 2006, when its contribution to GDP rose from 4.8% to 7.6%. After the Global Financial Crisis, the size of the... View Details
Keywords: Financial Crisis; Financial Institutions; Financial Markets; Growth and Development; Economic Sectors
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Greenwood, Robin, Robert Ialenti, and David Scharfstein. "The Evolution of Financial Services in the United States." Annual Review of Financial Economics (forthcoming).
  • August 2011 (Revised October 2014)
  • Case

High Wire Act: Credit Suisse and Contingent Capital (A)

By: Clayton S. Rose and Aldo Sesia
Late in 2010, Credit Suisse CEO Brady Dougan and his team closed in on the decision of whether or not to issue contingent capital, which Swiss regulators would require by 2019. There were a number of substantial issues facing Dougan and his team, including whether... View Details
Keywords: Financial Institutions; Capital Markets; Financial Crisis; Decision Choices and Conditions; Leadership; International Finance; Financial Liquidity; Risk and Uncertainty; Competitive Strategy; Financial Services Industry; Switzerland
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Rose, Clayton S., and Aldo Sesia. "High Wire Act: Credit Suisse and Contingent Capital (A)." Harvard Business School Case 312-007, August 2011. (Revised October 2014.)
  • Article

An Evaluation of Money Market Fund Reform Proposals

By: Samuel G. Hanson, David S. Scharfstein and Adi Sunderam
U.S. money market mutual funds (MMFs) are an important source of dollar funding for global financial institutions, particularly those headquartered outside the U.S. MMFs proved to be a source of considerable instability during the financial crisis of 2007–2009,... View Details
Keywords: Balance and Stability; Globalized Markets and Industries; Banks and Banking
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Hanson, Samuel G., David S. Scharfstein, and Adi Sunderam. "An Evaluation of Money Market Fund Reform Proposals." IMF Economic Review 63, no. 4 (November 2015): 984–1023.
  • July – August 2009
  • Article

The Descent of Finance

What if the current recession turns out to be like the Great Depression of 1929-1933? Four years from now, the United States might find itself with a still-shrinking economy, half as many banks as in 2009, a third as many hedge funds, and retail banking resembling a... View Details
Keywords: Forecasting and Prediction; Economic Slowdown and Stagnation; International Finance; Globalized Economies and Regions; Business and Government Relations; Financial Services Industry
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Ferguson, Niall. "The Descent of Finance." Harvard Business Review 87, nos. 7-8 (July–August 2009).
  • 29 Oct 2015
  • Other Presentation

Social Progress: The Next Development Agenda (Video)

By: Michael E. Porter and Scott Stern
How do we measure development? The Social Progress Index was launched in 2013 as a holistic approach to benchmarking countries' social performance, independent of economic measures. SPI has been widely taken up on a global basis in evaluating national performance, and... View Details
Keywords: Economic Development; Development Economics; Society; United States
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Porter, Michael E., and Scott Stern. "Social Progress: The Next Development Agenda (Video)." DEC Lecture Series Series, World Bank, Economic Development Institute, Washington, D.C., United States, October 29, 2015.
  • September 2010 (Revised November 2010)
  • Case

J.P. Morgan Private Bank: Risk Management during the Financial Crisis 2008-2009

By: Anette Mikes, Clayton S. Rose and Aldo Sesia
Mary Erdoes, the CEO of JP Morgan's asset management business, and three colleagues provide insights into risk management issues faced by the firm's private bank during the financial crisis in 2008–2009. The case provides perspective on the philosophy with which they... View Details
Keywords: Judgments; Financial Crisis; Globalized Firms and Management; Management Analysis, Tools, and Techniques; Risk Management; Mathematical Methods; Banking Industry; United States
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Mikes, Anette, Clayton S. Rose, and Aldo Sesia. "J.P. Morgan Private Bank: Risk Management during the Financial Crisis 2008-2009." Harvard Business School Case 311-003, September 2010. (Revised November 2010.)
  • March 2009 (Revised November 2009)
  • Supplement

Washington Mutual's Covered Bonds Courseware

By: Daniel Baird Bergstresser, Robin Greenwood and James Quinn
Washington Mutual issues 6 billion Euro of covered bonds in 2006. The objective of the case is to ask whether these bonds are mispriced in late 2008. The case is set in September 20008, and Washington Mutual is facing considerable distress due to mounting losses on its... View Details
Keywords: Banks and Banking; Bonds; Education; Information; Banking Industry
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Bergstresser, Daniel Baird, Robin Greenwood, and James Quinn. "Washington Mutual's Covered Bonds Courseware." Harvard Business School Spreadsheet Supplement 209-724, March 2009. (Revised November 2009.)
  • January 2013 (Revised October 2014)
  • Case

Barclays and the LIBOR Scandal

By: Clayton S. Rose and Aldo Sesia
In June of 2012, Barclays plc admitted that it had manipulated LIBOR—a benchmark interest rate that was fundamental to the operation of international financial markets and that was the basis for trillions of dollars of financial transactions. Between 2005 and 2009... View Details
Keywords: Financial Systems; Financial Services; Corruption; Regulation; General Management; Management; Leadership; Economic Systems; Crime and Corruption; Ethics; Culture; Banking Industry; Banking Industry; United Kingdom
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Rose, Clayton S., and Aldo Sesia. "Barclays and the LIBOR Scandal." Harvard Business School Case 313-075, January 2013. (Revised October 2014.)
  • 18 Oct 2011
  • First Look

First Look: October 18

giving a subsidy as a lump sum to offset capital costs is more effective. This has different regulatory implications for urban and rural settings where the environmental objectives may differ. Bouncing Out of the Banking System: An... View Details
Keywords: Sean Silverthorne
  • 29 Oct 2015
  • Other Presentation

Social Progress: The Next Development Agenda

By: Michael E. Porter and Scott Stern
How do we measure development? The Social Progress Index was launched in 2013 as a holistic approach to benchmarking countries' social performance, independent of economic measures. SPI has been widely taken up on a global basis in evaluating national performance, and... View Details
Keywords: Economic Development; Development Economics; Society; United States
Citation
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Porter, Michael E., and Scott Stern. "Social Progress: The Next Development Agenda." DEC Lecture Series Series, World Bank, Economic Development Institute, Washington, D.C., United States, October 29, 2015.
  • April 1998
  • Case

Responding to 21st Century Financial Crisis

By: Huw Pill
During the 1990s, financial crises appear to have been almost annual events. Examples abound: the collapse of S & Ls in the United States; currency mayhem in Europe; Mexican devaluation and banking crisis; Japanese banks teetering on the verge of default; currency and... View Details
Keywords: Global Range; Financial Crisis
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Pill, Huw. "Responding to 21st Century Financial Crisis." Harvard Business School Case 798-090, April 1998.
  • 29 May 2018
  • First Look

New Research and Ideas, May 29, 2018

February 2018 Journal of Accounting & Economics Bank CEO Materialism: Risk Controls, Culture and Tail Risk By: Bushman, Robert, Robert Davidson, Aiyesha Dey, and Abbie Smith Abstract—We investigate how the prevalence of materialistic... View Details
Keywords: Dina Gerdeman
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