Publications

April 2010
Background Note

Securities Trading: Front-, Middle- and Back Office

By: Francois Brochet and Rakeen Mabud

This note explains the basic structure of the trading floor in a typical financial institution and how the front, middle and back offices interact to ensure a functioning trading system. View Details

Keywords: Capital Markets; Financial Institutions; Financial Services Industry

11 Jan 2011
First Look

First Look: Jan. 11

standards are. The authors include a useful assessment tool to help readers get started. Read the article: http://hbr.org/2011/01/are-you-a-good-boss-or-a-great-one/ar/1# The Emerging Capital Market for... View Details

Keywords: Sean Silverthorne

30 Apr 2001
Research & Ideas

New Paths to Success in Asia

agree. In Japan, for example, Professor Lynda M. Applegate is working on a case on the launch of Nasdaq Japan. "This new venture is developing a hybrid financial market model for Japan that integrates Nasdaq's U.S. View Details

Keywords: by Alejandro Reyes & Deborah Blagg

12 Oct 2011
First Look

First Look: October 12

enterprising companies, the current threats to market capitalism present vital opportunities. Drawing on discussions with business leaders around the world, the authors argue that companies must stop seeing... View Details

Keywords: Sean Silverthorne

30 May 2017
First Look

First Look at New Research and Ideas, May 30

team wondered whether the capital markets would cooperate and how effectively the management and sponsor teams would execute. Moreover, the company had only been private for two years, and the value creation... View Details

Keywords: Sean Silverthorne

17 Feb 2003
Research & Ideas

Building Communities as Well as Companies

said, only 4 percent of the money raised by venture capital funds went to women- and minority-led business plans; at the same time, these ventures were growing at two to three times the rate of other businesses. View Details

Keywords: by Julia Hanna

November 1995 (Revised April 1998)
Case

National Insurance Corporation

The case visits the catastrophe insurance business at an interesting time in the history of the insurance markets. A major reinsurer, National Insurance, is taking a look at the new insurance derivatives being traded on the Chicago Board of Trade with a view to using... View Details

Keywords: Risk Management; Insurance; Capital Markets; Insurance Industry; United States

September 2019
Article

The Effect of Enforcement Transparency: Evidence from SEC Comment-Letter Reviews

By: Miguel Duro, Jonas Heese and Gaizka Ormazabal

This paper studies the effect of the public disclosure of the Securities and Exchange Commission (SEC) comment-letter reviews (CLs) on firms’ financial reporting. We exploit a major change in the SEC’s disclosure policy: in 2004, the SEC decided to make its CLs... View Details

Keywords: Disclosure; SEC Comment-Letter Reviews; Public Enforcement; Governance; Information Publishing; Policy; Financial Reporting; Capital Markets; Organizational Change and Adaptation

SSRN

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20 Mar 2007
First Look

First Look: March 20, 2007

the impact of inventory on sales and the interrelationship between gross margin and inventory. We also estimate the effects of exogenous explanatory variables such as store growth, proportion of new inventory, capital investment per... View Details

Keywords: Martha Lagace

1999
Book

The Financing of Catastrophe Risk

By: Kenneth A. Froot

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

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23 Oct 2012
First Look

First Look: October 23

customer vehicles at higher rates and are more likely to lose customers whom they fail, suggesting that competition intensifies pressure on facilities to provide illegal leniency. We also show that, at least in markets in which pricing is... View Details

Keywords: Sean Silverthorne

July 1997 (Revised September 1997)
Case

USAA: Catastrophe Risk Financing

By: Kenneth A. Froot and Mark Seasholes

Describes the first major risk financing using catastrophe bonds. Provides a basis for discussing the securitization of insurance risks. View Details

Keywords: Financial Management; Insurance; Capital Markets; Natural Disasters; Risk Management; Bonds; Insurance Industry; Financial Services Industry; United States