Publications

June 2021
Case

Modern Endowment Management: Paula Volent and the Bowdoin Endowment

By: Luis M. Viceira, Emily R. McComb and Dean Xu

This case examines modern endowment investment management through the lens of a leadership transition between Chief Investment Officers (CIOs). In March 2021, Paula Volent is about to step down as the CIO of the endowment of Bowdoin College after twenty-one years, and... View Details

Keywords: Investment Portfolio; Investment Banking; Growth Management; Investment Return; Capital Markets; Interest Rates; Competition; Cost Management; Risk Management; Financial Liquidity; Performance Evaluation

Educators

2000
Other Unpublished Work

Career Concerns and Staged Investment: Evidence from the Venture Capital Industry

By: Malcolm Baker

I develop a model in which career concerns lead to inefficient reinvestment decisions. Managers have incentives to inflate interim returns by continuing bad projects and delaying write-offs. In the venture capital industry, the syndication of follow-on investments can... View Details

Keywords: Performance Efficiency; Valuation; Venture Capital; Investment; Decisions; Motivation and Incentives; Quality

26 Oct 2010
News

Heads I Win, Tails I Win Too

Article

Om det meningslösa och farliga med monetär heroism [On the Futility and Hazards of Monetary Heroics]

By: Amar Bhide

The decentralized enterprise that sustains the dynamism of economies makes top-down monetary interventions, such as quantitative easing, that target aggregates such as overall inflation, futile. Moreover, economic stability and dynamism also require prudent,... View Details

Keywords: Innovation; Monetary Policy; Decentralization; Quantitative Easing

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Article

Temporal View of the Costs and Benefits of Self-Deception

By: Zoe Chance, Michael I. Norton, Francesca Gino and Dan Ariely

Researchers have documented many cases in which individuals rationalize their regrettable actions. Four experiments examine situations in which people go beyond merely explaining away their misconduct to actively deceiving themselves. We find that those who exploit... View Details

Keywords: Hindsight Bias; Lying; Motivated Reasoning; Self-enhancement; Social Psychology; Perception; Performance Expectations

July 1986
Article

Inflation, Uncertainty and Investment

By: Carliss Y. Baldwin and R. S. Ruback

Keywords: Inflation and Deflation; Investment; Risk and Uncertainty

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2003
Book

Profits You Can Trust: Spotting and Surviving Accounting Landmines

By: H. David Sherman, S. David Young and Harris Collingwood

Profits You Can Trust gives managers, directors, lenders, audit partners and analysts a clear framework to demystify global financial reporting in a market fraught with danger. Filled with provocative and enlightening examples, it offers a fresh perspective and clear... View Details

Keywords: Accounting; Corporate Finance; Economics; Financial Reporting

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06 Mar 2018
First Look

First Look at Research and Ideas, March 6, 2018

temporary effect on aggregate inflation and no downward effect on other goods. Second, contrary to common beliefs, we find that controlled goods are consistently available for sale. Third, firms compensate... View Details

Keywords: Sean Silverthorne

March 2023
Supplement

Allianz Türkiye (C): Managing the 2017 Hail Storm

By: John D. Macomber and Fares Khrais

Allianz Turkey is a property casualty insurance company operating in a region experiencing increasing losses from natural catastrophe events related to climate change, for example hail, wildfire, and flooding. There are also substantial other natural catastrophe... View Details

Keywords: Insurance And Reinsurance; Natural Disasters; Turkey; Insurance; Climate Change; Analytics and Data Science; Insurance Industry; Financial Services Industry; Turkey

March 2023 (Revised April 2024)
Case

Allianz Türkiye: Adapting to Climate Change

By: John D. Macomber and Fares Khrais

Allianz Turkey is a property casualty insurance company operating in a region experiencing increasing losses from natural catastrophe events related to climate change, for example hail, wildfire, and flooding. There are also substantial other natural catastrophe... View Details

Keywords: Insurance And Reinsurance; Natural Disasters; Turkey; Insurance; Climate Change; Analytics and Data Science; Insurance Industry; Financial Services Industry; Turkey

Educators

September 2022 (Revised November 2022)
Case

The Uyghur Forced Labor Prevention Act: Trade and Genocide in U.S.-China Relations

By: Jeremy Friedman and David Lane

On June 21, 2022, the Uyghur Forced Labor Prevention Act (UFLPA) went into effect, requiring companies to prove that goods imported from the People’s Republic of China were not made with forced labor. The bill was a reaction to reports of products being made with... View Details

Educators

10 Jan 2024
Research & Ideas

Technology and COVID Upended Tipping Norms. Will Consumers Keep Paying?

as under-tipping or be perceived as cheap. It makes us feel guilty if we go in at the bottom of the range, particularly if we believe everyone else is tipping higher than us.” But Avery says that with rising inflation View Details

Keywords: by Anna Lamb, Harvard Gazette

January – March 2012
Article

Bond Risk, Bond Return Volatility, and the Term Structure of Interest Rates

By: Luis M. Viceira

This paper explores time variation in bond risk, as measured by the covariation of bond returns with stock returns and with consumption growth, and in the volatility of bond returns. A robust stylized fact in empirical finance is that the spread between the yield on... View Details

Keywords: Bonds; Volatility; Forecasting and Prediction; Interest Rates; Inflation and Deflation; Investment Return; Risk and Uncertainty; Currency Exchange Rate; Cash Flow; Stocks

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