Publications

February 2022 (Revised November 2022)
Case

Fondeadora

By: Álvaro Rodríguez Arregui and Mitchell Weiss

Norman Müller and René Serrano, cofounders of Fondeadora, a Mexican “neobank,” had lined up a $12.5 million in Series A funding round in 2020 only to run into a major obstacle: The lead investor was Gradient Ventures, a venture firm launched by Alphabet, Inc., and... View Details

Keywords: Fundraising; Entrepreneurship; Venture Capital; Financial Institutions; Business Startups; Government Legislation; Governing Rules, Regulations, and Reforms; Financial Strategy; Financial Services Industry; Mexico City; Latin America

Program

Strategy: Building and Sustaining Competitive Advantage

Summary In the fight for market leadership and the continuous drive toward improved returns, your company needs to devise an effective strategy—and execute it flawlessly. This program prepares you to tackle or lead that challenge in all... View Details

December 2024 (Revised January 2025)
Case

Balancing Returns and Responsibilities at Raya Partners

By: Arthur Segel, Ephraim Mernick, Derek C. M. van Bever and Olivia Barba

Raya Partners, a private equity firm, faces a crucial decision regarding Asa Specialty Coatings Company (ASCC). The dilemma involves shifting ASCC's manufacturing operations to Mexico, a move that would boost profitability and reduce emissions but result in significant... View Details

Keywords: Factories, Labs, and Plants; Communication Strategy; Private Equity; Job Cuts and Outsourcing; Corporate Social Responsibility and Impact; Environmental Sustainability; Values and Beliefs; Financial Services Industry; Manufacturing Industry; Mexico; Vermont

Web

Site Map

Business Analytics Program Harvard Business School Online MBA Predoctoral Researchers Alumni Alumni Events Alumni Reunions Commencement New Venture Competition Public Events Faculty / Research / Topics Behavioral Finance & Financial... View Details

06 Jun 2013
Working Paper Summaries

Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly

Keywords: by Malcolm Baker & Jeffrey Wurgler; Financial Services; Financial Services

2010
Working Paper

A Brief Postwar History of U.S. Consumer Finance

By: Andrea Ryan, Gunnar Trumbull and Peter Tufano

This article describes the consumer finance sector in the US since World War II. We first define the sector in terms of the functions delivered by firms (payments, savings/investing, borrowing, managing risk, and providing advice.) We provide time series evidence on... View Details

Keywords: Decision Choices and Conditions; Borrowing and Debt; Mortgages; Personal Finance; Business History; Innovation and Invention; Risk and Uncertainty; Financial Services Industry; United States

Read Now

24 Feb 2011
Research & Ideas

What’s Government’s Role in Regulating Home Purchase Financing?

proposals, which would include the wind down of two government sponsored enterprises—Fannie Mae and Freddie Mac. Between them they generated more than half of all US mortgage credit before failing in September 2008. According to a new... View Details

Keywords: by Sean Silverthorne; Financial Services

05 Feb 2009
What Do You Think?

Why Can’t We Figure Out How to Select Leaders?

leaders of our largest financial institutions worldwide struggling to justify decisions that have placed their organizations in jeopardy. I was reminded, too, of the CEO of a well-known retail organization who, I believe, would be... View Details

Keywords: by Jim Heskett

August 2012 (Revised September 2012)
Case

JP Morgan Chase & the CIO Losses

By: Clayton Rose

On July 13, 2012, JP Morgan Chase & Co. announced a larger than expected loss for the quarter, $4.4 billion, from positions held in the Chief Investment Office (CIO), raising the total losses to $5.9 billion. Since the substantial risks in the CIO had first been... View Details

Keywords: Banking; Governance; Finance; Risk Management; Corporate Governance; Business Earnings; Accounting; Financial Services Industry; Financial Services Industry; United States

2012
Working Paper

Earnings Management from the Bottom Up: An Analysis of Managerial Incentives Below the CEO

By: Felix Oberholzer-Gee and Julie Wulf

Performance-based pay is an important instrument to align the interests of managers with the interests of shareholders. However, recent evidence suggests that high-powered incentives also provide managers with incentives to manipulate the firm's reported earnings. The... View Details

Keywords: Compensation and Benefits; Interests; Business and Shareholder Relations; Motivation and Incentives; Earnings Management; Performance Evaluation; Stock Options

Read Now

Program

Rising Generation in the Family Enterprise

different path, but all will benefit from a holistic exploration of their connection to the family enterprise. In a program that places all options on the table—and explores many of the topics that families... View Details

10 Mar 2022
Blog Post

How I Spent My HBS 2+2 Deferral: Vika Wasyliw

deep engineering knowledge with minimal regard for business requirements. As an engineer who loves working with people even more than circuit boards, I saw an opportunity to bridge these gaps and help others communicate more effectively across View Details

02 Oct 2014
Working Paper Summaries

Bitcoin

Keywords: by Rainer Böhme, Nicolas Christin, Benjamin Edelman & Tyler Moore; Banking

Career Coach

Anne Marie Checcone

strategy at companies like Meta, Amazon Web Services and Boston Consulting Group, Anne Marie brings a sharp, pragmatic approach to executive coaching, leadership development, and career growth. Anne Marie is a seasoned product management... View Details

Keywords: Technology; Consulting

03 Oct 2023
HBS Case

Layoffs Can Be Bad Business: 5 Strategies to Consider Before Cutting Staff

unavoidable. In such situations, companies can mitigate the hidden costs if executives develop specific policies to follow in downsizing and make everyone aware of the company’s approach and its commitment to acting fairly for all... View Details

Keywords: by Ben Rand; Financial Services; Financial Services; Financial Services; Financial Services

September 2009 (Revised August 2011)
Case

Root Capital

By: V. Kasturi Rangan and Katharine Lee

Founded in 1999, Root Capital had loaned $150 million to nearly 250 small and growing businesses, mainly in Latin America. In 2009, as the organization launched a five-year, $55 million capital campaign, it had to determine a strategic path going forward in keeping... View Details

Keywords: Business Model; Social Entrepreneurship; Capital; Financing and Loans; Growth and Development Strategy; Financial Services Industry; Latin America

March 2021
Case

P.F. Chang's

By: Ashish Nanda, Nitin Nohria and Margaret Cross

Excited yet apprehensive after being named CEO of P.F. Chang’s beginning July 1st, 2020, Damola Adamolekun was well aware of the extraordinary challenges facing the firm. The closure of businesses deemed “nonessential” owing to the COVID-19 pandemic had devastated the... View Details

Keywords: Restaurants; COVID-19 Pandemic; Scenario Planning; Scenarios; Health Pandemics; Risk and Uncertainty; Strategy