Publications

SSRN

January 2007 (Revised March 2011)
Case

Yale University Investments Office: August 2006

By: Josh Lerner

The Yale Investments Office must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments--hedge funds, private equity, real estate, and so forth. Considers the risks and benefits of a different asset allocation strategy.... View Details

Keywords: Higher Education; Asset Management; Financial Management; Financial Strategy; Investment Portfolio; Risk Management

Educators

February 1982 (Revised March 1984)
Case

Travelers Investment Management Co.

By: David E. Bell

Keywords: Investment Portfolio; Management; Risk Management; Financial Services Industry

summer 1975
Article

Simulation of Bond Portfolio Strategies: Laddered vs. Barbell Maturity Sturctures

By: D. B. Crane and Stephen P. Bradley

Keywords: Bonds; Investment; Strategy

19 Mar 2006
Research & Ideas

Unlocking Your Investment Capital

Many companies can double or even triple their capacity to invest in strategic assets and competencies by properly managing their "risk balance sheet," argues Harvard Business School professor Robert C. Merton. In a provocative... View Details

Keywords: by Ann Cullen; Financial Services

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

17 Jan 2020
Blog Post

Going the Distance for Investment Excellence

Run As a research analyst at MFS Investment Management, Cameron focuses on quantitative, strategic, and thematic approaches to bond management. MFS specializes in managing investment View Details

2021
Working Paper

Technology Differentiation and Firm Performance

By: Sam Arts, Bruno Cassiman and Jianan Hou

Prior work has extensively studied how investing in R&D and building a technology portfolio relate to superior firm performance. However, the value of a firm’s technology portfolio should also be driven by the degree to which it is more unique and technologically... View Details

Keywords: Technology Portfolio; Differentiation; Competitiveness; Organizations; Technology; Performance; United States

SSRN

November 2024 (Revised January 2025)
Case

Balancing Impact: Modeling the Future at British International Investment

By: Shawn Cole and Jonah Zahnd

In 2022, British International Investment (BII), the £8.1 billion development finance arm of the British government, implemented a new impact measurement system called the Impact Score to align its financial and impact objectives systematically. The tool was designed... View Details

Keywords: Investment Portfolio; Measurement and Metrics; Corporate Social Responsibility and Impact; Alignment; United Kingdom

Educators

February 2002 (Revised April 2002)
Case

Chengwei Ventures and the hdt* Investment

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Bo Feng, cofounder and principal in Chengwei Ventures, one of the first sovereign venture capital firms in China, is trying to decide on the proper business model for hdt, the product of a merger between two portfolio companies. This case discusses the best way for the... View Details

Keywords: Venture Capital; Mergers and Acquisitions; Customer Relationship Management; Sovereign Finance; Management Analysis, Tools, and Techniques; Entrepreneurship; Internet and the Web; Applications and Software; Markets; Business Model; Financial Services Industry; China

Educators

Article

How Institutional Investors Frame Their Losses: Evidence on Dynamic Loss Aversion from Currency Portfolios

By: Kenneth A. Froot, John Arabadjis, Sonya Cates and Stephen Lawrence

Currency investors exhibit a tendency to cut risk by pairing both longs and shorts following losses and a weaker tendency to add risk following gains. By differentiating between position level, portfolio level, and aggregate cross-portfolio losses in currency... View Details

Keywords: Loss Aversion; Decision Choices and Conditions; Currency; Investment; Risk Management; Behavioral Finance

Article

Dynamic Consumption and Portfolio Choice with Stochastic Volatility in Incomplete Markets

By: George Chacko and Luis M. Viceira

Keywords: Decision Choices and Conditions; Investment; Markets

2008
Working Paper

Attracting Flows by Attracting Big Clients: Conflicts of Interest and Mutual Fund Portfolio Choice

By: Lauren Cohen and Breno Schmidt

We explore a new channel for attracting inflows using a unique dataset of corporate 401(k) retirement plans and their mutual fund family trustees. Families secure substantial inflows by being named trustee of a 401(k) plan. This affords the plan sponsor potential... View Details

Keywords: Investment Funds; Investment Portfolio; Conflict of Interests; Financial Services Industry

13 Nov 2020
Working Paper Summaries

Long-Run Returns to Impact Investing in Emerging Markets and Developing Economies

Keywords: by Shawn Cole, Martin Melecky, Florian Mölders, and Tristan Reed; Financial Services

10 Nov 2003
Research & Ideas

The Hard Numbers on Social Investments

Because of the variability of individual IC member investment expertise, it was difficult to judge the performance of the set of companies solely on the experience of the members. In an effort to evaluate the companies in aggregate, the... View Details

Keywords: by Manda Salls

October 2019
Article

Limited Investment Capital and Credit Spreads

By: Emil N. Siriwardane

Using proprietary credit default swap (CDS) data, I investigate how capital shocks at protection sellers impact pricing in the CDS market. Seller capital shocks—measured as CDS portfolio margin payments—account for 12% of the time-series variation in weekly spread... View Details

Keywords: Credit Risk; Derivatives; Credit Derivatives and Swaps; Capital Markets; Credit; Financial Institutions

Fast Answer

Investment management: industry resources

What are top resources for analyzing the investment management industry? Need to find... Start with... Industry Overviews Use industry profiles to discover how an industry operates, trends, how to analyze a company, financial... View Details

01 Oct 1998
News

A Zest to Invest

markets, Kingdon oversees a $3-billion company that invests in a global array of stocks, bonds, currencies, and options. So he isn't exactly the type to overreact to wide swings in the market. Besides, as any hedge-fund manager knows,... View Details

Keywords: Dun Gifford, Jr.

January 2023
Teaching Note

MicroStrategy’s Investment in Bitcoin

By: C. Fritz Foley, Celine Chammas and Donal O'Cofaigh

Teaching Note for HBS Case No. 222-048. View Details

Keywords: Bitcoin; Corporate Strategy; Acquisition; Investment Portfolio; Capital Structure; Equity