Publications

September 2023
Case

Super Quantum: Using Artificial Intelligence to Transform Asset Management (A)

By: Feng Zhu and Kerry Herman

Dr. Zhang, CEO of Super Quantum, an AI-driven hedge fund, is considering an investor’s request to withdraw their funds as the markets experience volatility. Should he pull the investor’s funds? View Details

Keywords: AI and Machine Learning; Volatility; Financial Markets; Investment Funds; Decision Choices and Conditions; Financial Services Industry

Educators

1979
Chapter

Identifiability of the von Neumann-Morgenstern Utility Function from Asset Demands

By: Jerry R. Green, Lawrence J. Lau and Heraklis Polemarchakis

1995
Chapter

The Informational Role of Asset Prices: The Case of Implied Volatility

By: Zvi Bodie and Robert C. Merton

Keywords: Asset Pricing; Price; Volatility; Information

June 2012
Teaching Note

Deferred Tax Assets in Basel III: Lessons from Japan (TN)

By: David F. Hawkins and Karthik Ramanna

June 2003
Article

Make v. Buy in Trucking: Asset Ownership, Job Design and Information

By: George P. Baker and Thomas Hubbard

Keywords: Assets; Ownership; Jobs and Positions; Design; Transportation Industry

August 2013 (Revised November 2013)
Case

Gordon Brothers: Collateralizing Corporate Loans by Brands

By: Paul Healy and Maria Loumioti

The case explores the collateralization of intellectual property in a loan agreement between a highly leveraged apparel company and a large US bank. Leveraging intangibles in the credit market is a new practice that has significantly grown over the past few years.... View Details

Keywords: Intangible Assets; Accounting; Valuation; Finance; Restructuring; United States

Educators

2000
Working Paper

Contractibility and Asset Ownership: On-Board Computers and Governance in US Trucking

By: George P. Baker and Thomas Hubbard

Read Now

January 2021 (Revised May 2021)
Teaching Note

Love It or List It: An Aging Asset on Sixth Ave

By: Charles F. Wu and Sean Bracken

Teaching Note for HBS Case No. 221-004. View Details

2018
Working Paper

Detecting Anomalies: The Relevance and Power of Standard Asset Pricing Tests

By: Malcolm Baker, Patrick Luo and Ryan Taliaferro

The two standard approaches for identifying capital market anomalies are cross-sectional coefficient tests, in the spirit of Fama and MacBeth (1973), and time-series intercept tests, in the spirit of Jensen (1968). A new signal can pass the first test, which we label a... View Details

Keywords: Investment Management; Anomalies; Portfolio Construction; Transaction Costs; Investment; Management; Asset Pricing; Market Transactions; Cost

Read Now

November 2004
Article

Contractibility and Asset Ownership: On-Board Computers and Governance in US Trucking

By: George P. Baker and Thomas Hubbard

Keywords: Assets; Ownership; Technology; Governance; Contracts; Transportation Industry; United States

July 2002
Article

Asset Accumulation, Interdependence and Technological Change: Evidence from Pharmaceutical Drug Discovery

By: Stefan Thomke and Walter Kuemmerle

Keywords: Assets; Information Technology; Change; Health

January 2017 (Revised February 2017)
Teaching Note

Omar Selim: Building a Values-Based Asset Management Firm (A) and (B)

By: George Serafeim

February 2021
Teaching Note

Satrix: Competing in the Passive Asset Management Industry in South Africa

By: Mark Egan

2009
Working Paper

Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations

By: Diego A. Comin, Mark Gertler and Ana Maria Santacreu

We develop a model in which innovations in an economy's growth potential are an important driving force of the business cycle. The framework shares the emphasis of the recent "new shock" literature on revisions of beliefs about the future as a source of fluctuations,... View Details

Keywords: Business Cycles; Economic Growth; Asset Pricing; Technological Innovation; Mathematical Methods; System Shocks; Technology Adoption

Read Now

Research Summary

Corporate Bond Pricing and Different Sources of Asset Return Volatility (with George Chacko and Jens Hilscher)

This paper presents a pricing model for defaultable bonds. Default is defined by a cash flow, not value, covenant. The cash flow (total distributions) yield is stochastic. We find that different sources of volatility, cash flow versus discount rate news, affect... View Details

January 3, 2001
Article

Last Nail in the Pooling Coffin: New Goodwill and Intangible Asset Proposals

By: David F. Hawkins

Keywords: Assets

2000
Other Paper

Make versus Buy in Trucking: Asset Ownership, Job Design and Information

By: George P. Baker and Thomas Hubbard

August 1996 (Revised October 1996)
Case

Howard, Shea & Chan Asset Management(C): Recruiting and Selecting a Salesperson

By: Benson P. Shapiro

Goes to the heart of the sales strategy issues by asking discussion participants to: 1) develop a salesperson recruiting process, 2) choose among four resumes, and 3) develop a sales compensation approach. View Details

Keywords: Compensation and Benefits; Recruitment; Salesforce Management; Strategy

Educators

2001
Working Paper

Asset Accumulation, Interdependence and Technological Change: Evidence from Pharmaceutical Drug Discovery

By: Stefan Thomke and Walter Kuemmerle