Publications

06 Feb 2006
Research & Ideas

The Trouble Behind Livedoor

into market manipulation, especially in Japan? Robin Greenwood: Generally speaking, market manipulation comes in two forms: manipulating investor expectations, or manipulating investors' ability to trade. Financial economists know a lot... View Details

Keywords: by Sean Silverthorne; Financial Services; Financial Services

August 2010 (Revised February 2012)
Supplement

Cosmeticos de Espana, S.A. (D)

By: David F. Hawkins

The fourth case in the Cosmeticos de Espana case series. What should management's accounting response be to the imposition of foreign currency controls? View Details

Keywords: Financial Statements; Decision Choices and Conditions; Inflation and Deflation; Currency Exchange Rate; Governance Controls; Beauty and Cosmetics Industry; Spain; Venezuela

January 1999
Case

Prague Post, The

By: Paul A. Gompers

Lisa Frankenberg, co-founder of the Prague Post, is faced with several business and professional decisions. The English-language paper she founded is under pressure from competition and a Czech Republic recession. She must decide how to return the paper to... View Details

Keywords: Growth and Development Strategy; Decisions; Decision Choices and Conditions; Profit; Competition; Financial Crisis; Personal Development and Career; Publishing Industry; Czech Republic

February 2006 (Revised April 2006)
Case

Grove International Partners

By: Robert F. Higgins, Carin-Isabel Knoop and Suzanne Petrela

Grove International Partners, one of the world's largest international real estate private equity funds, is actively seeking new investment opportunities in the seniors housing industry. The firm has identified two potential opportunities--one located in Japan and one... View Details

Keywords: Decision Choices and Conditions; Private Equity; Investment; Opportunities; Financial Services Industry; Financial Services Industry; Japan; United Kingdom

January 2021 (Revised March 2021)
Case

Juno (A): Leveraging Student Power

By: Joshua Schwartzstein, Kathleen L. McGinn and Amy Klopfenstein

In March 2020, Chris Abkarians and Nikhil Agarwal were in the midst of preparing the annual auction for their student loan assistance startup, Juno. Both current MBA students at Harvard Business School, the duo founded Juno in 2018 to leverage student bargaining power... View Details

29 Jan 2019
Research & Ideas

'Green Bonds' May Be Our Best Bet for Environmental Damage Control

Municipalities have been selling bonds to pay for public works projects—fire stations, parking garages,sewage treatment systems—for 200 years. It’s only in the past decade or so, however, that they’ve been selling them with an extra perk: helping the environment. In... View Details

Keywords: by Michael Blanding; Energy; Utilities; Construction; Green Technology; Public Administration

August 2010 (Revised May 2015)
Teaching Note

Bank of America: Mobile Banking and Bank of America: Mobile Banking (Abridged)

By: Sunil Gupta

Teaching Note for 510063 and 512082 View Details

Keywords: Banks and Banking; Strategy; Customers; Technology Adoption; Decisions; Product Launch; Mobile Technology; Banking Industry

July 2005 (Revised December 2005)
Case

General Motors U.S. Pension Funds

By: Luis M. Viceira and Helen Tung

In June 2003, General Motors Corp. (GM) successfully marketed the largest corporate debt offering in U.S. history, worth $17.6 billion. The offering included $13.6 billion worth of debt denominated in dollars, euros, and pounds and $4 billion dollars denominated in... View Details

Keywords: Decisions; Bonds; Investment Return; Policy; Borrowing and Debt; Corporate Finance; Auto Industry; United States

2002
Other Unpublished Work

Market Liquidity as a Sentiment Indicator

By: Malcolm Baker and Jeremy Stein

We build a model that helps to explain why increases in liquidity—such as lower bid–ask spreads, a lower price impact of trade, or higher turnover—predict lower subsequent returns in both firm-level and aggregate data. The model features a class of irrational... View Details

Keywords: Price; Financial Liquidity; Trade; Valuation; Markets; Forecasting and Prediction; Equity; Stock Shares; Investment Return

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October 2000
Article

The Equity Share in New Issues and Aggregate Stock Returns

By: Malcolm Baker and Jeffrey Wurgler

The share of equity issues in total new equity and debt issues is a strong predictor of U.S. stock market returns between 1928 and 1997. In particular, firms issue more equity than debt just before periods of low market returns. The equity share in new issues has... View Details

Keywords: Equity; Borrowing and Debt; Stocks; Markets; Debt Securities; Forecasting and Prediction; Accounting Industry; United States

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Read Now

12 Jun 2009
Research Event

Business Summit: Lawrence Summers on Market Capitalism’s Historic Opportunity

requiring decisive action. This includes both near-term action to deal with the current financial crisis, and decisions on three broad issues that hold enormous ramifications... View Details

February 2004 (Revised April 2004)
Case

Great Atlantic & Pacific Tea Company, Inc., The

By: David F. Hawkins and Jacob Cohen

Analysts believe bankruptcy is a distinct possibility for A&P in the future. The company believes otherwise. View Details

Keywords: Forecasting and Prediction; Insolvency and Bankruptcy; Consumer Products Industry; Food and Beverage Industry

Find at Harvard

December 2009 (Revised July 2013)
Case

Iris Running Crane: December 2009

By: Matthew Rhodes-Kropf, Josh Lerner and Ann Leamon

Iris Running Crane, an MBA candidate, must choose among three different job offers in private equity. One is with a top-tier megafund buyout operation; the second with a geographically focused mid-market fund; and the third with a one-time top-tier fund that is trying... View Details

Keywords: Decision Choices and Conditions; Private Equity; Compensation and Benefits; Job Offer; Personal Development and Career; Financial Services Industry

12 Feb 2007
Lessons from the Classroom

‘UpTick’ Brings Wall Street Pressure to Students

In a Harvard Business School classroom, students in the Dynamic Markets class may have one minute to make a decision in a pressure cooker one called "the most stress I've experienced in ten years." It's margin call time in a... View Details

Keywords: by Julia Hanna; Financial Services; Financial Services

01 Sep 2012
News

Expertise From The Front Lines Of The Eurozone

timing, he says, that couldn’t have been better. “The US financial crisis made students particularly interested in my views, and since the European crisis, I’ve been concentrating my research and case writing on this latter topic.” From... View Details

Keywords: Funds, Trusts, and Other Financial Vehicles; Funds, Trusts, and Other Financial Vehicles; Funds, Trusts, and Other Financial Vehicles; Funds, Trusts, and Other Financial Vehicles

01 Dec 2013
News

Alumni News | Bookshelf: A Manager's Responsibility in the 21st Century

society with bad business decisions is magnified by multipliers that include technology, financial interdependencies, and pressure to react quickly in increasingly competitive environments. The solution can... View Details

Keywords: Sean Silverthorne; oil spill; Publishing Industries (except Internet); Information

Web

The Anatomy of Fraud (TAF) - Course Catalog

they develop expertise to understand financial reporting implications of business decisions and identify key control fault-lines in companies that can lead to fraud. The course is also relevant for students... View Details

01 Sep 2009
News

Faculty Research Online

HBS Working Knowledge vault about building a business in a down economy, motivating the troops, and other current topics. See http://hbswk.hbs.edu/item/6232.html. Why Do Countries Adopt International Financial Reporting Standards? Why do... View Details

Keywords: Colleges, Universities, and Professional Schools; Educational Services; News, Library, Internet, and Other Services; Information

September 2009 (Revised February 2011)
Case

Eden McCallum: A Network-Based Consulting Firm (A)

By: Heidi K. Gardner and Robert G. Eccles

Eden McCallum pioneered the network-based ("virtual") consulting firm model in the U.K. Contracting freelance consultants on a per-project basis keeps overheads lean so that Eden McCallum's fees are a fraction of the big firms' rates. Their flexible, low-cost model has... View Details

Keywords: Business Model; Decision Choices and Conditions; Financial Crisis; Growth and Development Strategy; Expansion; Consulting Industry; United Kingdom