Publications

Career Coach

Cici Xie

Cici wants to help students explore opportunities in the investment management industry at both hedge funds and long-only asset management firms. Having gone through the extensive recruiting process of both hedge funds and long-only View Details

06 Jan 2003
Research & Ideas

Why Expensing Options Doesn’t Solve the Problem

company to transfer assets and liabilities to certain so-called special purpose entities (SPEs). According to the Powers report, which was published by a special committee of Enron's board after the company entered bankruptcy protection... View Details

Keywords: by William Sahlman

January 1995 (Revised June 1995)
Case

Note on Yield Conventions

By: Andre F. Perold and Wai Lee

Describes the principal conventions used to report yields on debt instruments. View Details

Keywords: Investment Return; Capital Markets; Asset Management; Reports; Conferences; Governing and Advisory Boards

June 2005
Article

Currency Returns, Intrinsic Value, and Institutional Investor Flows

By: K. A. Froot and T. Ramadorai

Keywords: Currencies; Exchange Rates; Purchasing Power Parity; Real Exchange Rate; Forecasting and Prediction; Behavioral Finance; Investment Return; Market Transactions; Performance Expectations; Personal Characteristics; Asset Pricing; Financial Services Industry

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October 2022 (Revised September 2024)
Case

To SFO or Not To SFO: The Tolman Family Selects a Family Office Strategy

By: Lauren Cohen, Hao Gao, Victoria Alvarez-Arango, Grace Headinger, Mili Sanwalka and Anna Yuan

Peter Tolman, a first-generation investment professional, debated which family office strategy to adopt for managing his family’s assets. As the sole steward of his family’s wealth, he sought to conserve and grow his family’s wealth for him, his wife, and his two very... View Details

Keywords: Family Office; Investment Strategy; Family Business; Financial Strategy; Investment; Strategy; Diversification; Management; Asset Management; Wealth; Financial Services Industry; United States; Canada

September 2018
Case

Granite Equity Partners

By: Victoria Ivashina and Jeffrey Boyar

This case follows Rick Bauerly, CEO of Minnesota-based Granite Equity Partners, a private equity firm that specialized in buying out retiring business owners in the Minnesota community. In 2007, Granite Equity was considering an investment in Tyrell Corp. (name... View Details

Keywords: Private Equity Exit; Investing; Fund Exit; Fund Management; Wealth Management; Liquidity; Buyout; Exit Strategy; Preferred Shares; Convertible Notes; Finance; Private Equity; Investment; Asset Management; Wealth; Management; Financial Liquidity

March 2018
Case

Lufax: FinTech and the Transformation of Wealth Management in China

By: Christopher J. Malloy, Lauren H. Cohen and Anthony K. Woo

This case examines the rise and competitive positioning of Lufax, an online marketplace headquartered in Shanghai, China, and a pioneer in the origination and trading of financial assets. The company had grown at a remarkable rate, and was awarded “Trading Platform of... View Details

Keywords: Asset Management; Internet and the Web; Competitive Strategy; Situation or Environment; Product Positioning; Financial Services Industry; China

fall 2008
Article

The Intermediation of Financial Risks: Evolution in the Catastrophe Reinsurance Market

By: Kenneth A. Froot

In this paper, I provide evidence concerning the imperfections in the reinsurance market. I try to get at some of the root causes of these imperfections, e.g., the behavior of ratings firms and the agency problems associated with the corporate form of ownership. I also... View Details

Keywords: Catastrophe Risk; Corporate Finance; Banking And Insurance; Hedging; Banking; Financial Markets; Insurance; Policy; Risk Management; Natural Disasters; Cost of Capital; Asset Pricing; Insurance Industry

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October 2008
Teaching Note

Grosvenor Group Limited (TN)

By: Arthur I Segel and Ben Creo

Teaching Note for [207064]. View Details

Keywords: Resource Allocation; Market Transactions; Property; Financial Instruments; Assets; Emerging Markets; Real Estate Industry

November 1990 (Revised June 1993)
Case

FMC Corp.: A Recapitalization

By: William J. Bruns Jr. and Julie H. Hertenstein

A proposed recapitalization will use new debt to pay a large dividend to some shareholders in return for a reduction of their voting power. The result will be a highly leveraged financial structure and negative owners' equity. Students can trace the effects of proposed... View Details

Keywords: Financial Statements; Financial Strategy; Asset Management; Financial Management; Business Conglomerates; Borrowing and Debt; Business and Shareholder Relations; Capital Structure; Equity; Private Equity; Chemical Industry

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August 2019 (Revised October 2019)
Case

Amandla Capital: Real Estate in Côte d‘Ivoire

By: John D. Macomber, Pippa Tubman Armerding and Dilyana Botha

This case describes Amandla Capital, a fledgling company in Cote d’Ivoire, facing three opportunities in the real estate and hospitality industries in Africa. It introduces students to several concepts: decision-making and cost-benefit analysis in real estate,... View Details

Keywords: Small Business; Decision Making; Decision Choices and Conditions; Cost vs Benefits; Finance; Assets; Asset Management; Investment Portfolio; Investment Return; Project Finance; Relationships

01 Dec 2011
News

Rising Star

enrolling at HBS, there came a stint as manager of South Africa’s Tourism Board in Paris. As Dhlomo related to Forbes magazine (June 6, 2011), “I was in my favorite city outside South Africa and promoting my country to the French market, accentuating its tourism View Details

Keywords: Broadcasting (except Internet); Information; Publishing Industries (except Internet); Information

Bernard M. Culver

Taking the helm of Continental at the height of the Depression, Culver had hoped to maintain the business on an even keel. He did much more than that, building a top financial performer. During his tenure, he doubled the asset base of... View Details

Keywords: Finance

23 Aug 2004
Research & Ideas

Strategy for Small Fish

constraints of vertical integration. As with IDe or deNovis, they create system solutions by combining their specialized assets with complementary products and platforms provided by other niche players and keystones. They embrace the... View Details

Keywords: by Marco Iansiti & Roy Levien

February 2011 (Revised June 2011)
Case

Hardina Smythe and the Healthcare Investment Conundrum

By: Matthew Rhodes-Kropf, Ann Leamon and Lisa Strope

Hardina Smythe, a recent MBA graduate, has just joined a top-tier venture capital firm in the difficult environment of late 2010. Her first assignment is to evaluate three different deals and make recommendations to the partners. Each potential investment has strengths... View Details

Keywords: Venture Capital; Asset Management; Private Equity; Entrepreneurship; Investment; Health Care and Treatment; Innovation and Invention; Financial Services Industry