Publications

Find at Harvard

2000
Working Paper

Business Groups and Risk Sharing Around the World

By: Tarun Khanna and Yishay Yafeh

May 2013 (Revised September 2013)
Case

The Kashagan Production Sharing Agreement (PSA)

By: Benjamin C. Esty and Florian Bitsch

When discovered in the 1990s, the Kashagan oil field was the second largest oil field in the world. The project sponsors (equity investors) signed a 40-year production sharing agreement (PSA) with the Kazakh government in 1997, with the expectation the field would... View Details

Educators

21 Aug 2015
Working Paper Summaries

Banks’ Risk Exposures

Keywords: by Juliane Begenau; Accounting; Banking; Financial Services

2016
Working Paper

The Effect of Shareholder Litigation Risk on the Information Environment: The Case of Cross-Listed Firms

By: Anywhere Sikochi

I document the causal link between shareholder litigation risk and cross-listed firms’ information environment by exploiting a quasi-natural experiment in the form of a reduction in litigation risk resulting from the 2010 Supreme Court ruling in Morrison v. National... View Details

Keywords: Cross-listing; Information Environment; Shareholder Litigation Risk; D＆O Insurance; Risk and Uncertainty; Lawsuits and Litigation; Business and Shareholder Relations

July 2008 (Revised January 2012)
Case

Enterprise Risk Management at Hydro One (A)

By: Anette Mikes

An early adopter of Enterprise Risk Management, energy giant Hydro One anticipated new threats and opportunities in an industry that faced climate change and carbon legislation, the deregulation of electricity markets, and the greater adoption of renewable... View Details

Keywords: Capital Budgeting; Knowledge Sharing; Managerial Roles; Risk Management; Strategic Planning; Situation or Environment; Environmental Sustainability; Renewable Energy; Energy Industry

Educators

June 2010
Case

Enterprise Risk Management at Hydro One (Multimedia)

By: Anette Mikes

An early adopter of Enterprise Risk Management, energy giant Hydro One anticipated new threats and opportunities in an industry that faced climate change and carbon legislation, the deregulation of electricity markets, and the greater adoption of renewable... View Details

Keywords: Risk Management; Energy; Energy Industry; Canada

Educators

2020
Working Paper

The Myth of the Lead Arranger’s Share

By: Kristian Blickle, Quirin Fleckenstein, Sebastian Hillenbrand and Anthony Saunders

We make use of Shared National Credit Program (SNC) data to examine syndicated loans in which the lead arranger retains no stake. We find that the lead arranger sells its entire loan share for 27 percent of term loans and 48 percent of Term B loans, typically shortly... View Details

Keywords: Syndicated Loans; Lead Arrangers; Financing and Loans

SSRN

19 Sep 2011
Research & Ideas

Doomsday Coming for Catastrophic Risk Insurers?

level of risk sharing in many instances is very incomplete, very poor." Froot examines where insurance companies purchase protection asking, "Do they buy reinsurance contracts for small losses, for... View Details

Keywords: by Maggie Starvish; Financial Services

20 Sep 2012
Research & Ideas

US Competitiveness at Risk

economy, a large share of exports and foreign direct investment [FDI]. But when you look at the trajectory over time—job growth rates, wage growth rates, changes in export or FDI share, particularly compared to emerging economies—the... View Details

Keywords: Re: Michael E. Porter & Jan W. Rivkin

November 2024
Article

The Health Costs of Cost Sharing

By: Amitabh Chandra, Evan Flack and Ziad Obermeyer

What happens when patients suddenly stop their medications? We study the health consequences of drug interruptions caused by large, abrupt, and arbitrary changes in price. Medicare’s prescription drug benefit as-if-randomly assigns 65-year-olds a drug budget as a... View Details

Keywords: Outcome or Result; Health Care and Treatment; Budgets and Budgeting; Cost

15 Aug 2007
Op-Ed

3 Steps to Reduce Financial System Risk

agencies, uneven supervisory coverage, and politically driven legislative reactions. In the process, much of the initial beneficial impact of credit risk transfer technology may be negated. 3 steps can mitigate this new component of... View Details

Keywords: by Mohamed El-Erian; Financial Services; Banking

24 Mar 2008
Research & Ideas

Reducing Risk with Online Advertising

long time, but if you could get rid of a substantial share of online advertising fraud, waiting two to four months wouldn't be bad. And crucially, for the good advertising partners, the ones who are being asked to wait two to four months... View Details

Keywords: by Martha Lagace; Video Game; Web Services

May 2024
Article

The Health Risks of Generative AI-Based Wellness Apps

By: Julian De Freitas and G. Cohen

Artifcial intelligence (AI)-enabled chatbots are increasingly being used to help people manage their mental health. Chatbots for mental health and particularly ‘wellness’ applications currently exist in a regulatory ‘gray area’. Indeed, most generative AI-powered... View Details

Keywords: AI and Machine Learning; Well-being; Governing Rules, Regulations, and Reforms; Applications and Software

November 7, 2017
Article

Temporary Sharing Prompts Unrestrained Disclosures That Leave Lasting Negative Impressions

By: Reto Hofstetter, Roland Rüppell and Leslie John

With the advent of social media, the impressions people make on others are based increasingly on their digital disclosures. Yet digital disclosures can come back to haunt, making it challenging for people to manage the impressions they make. In field and online... View Details

Keywords: Disclosure; Privacy; Self-presentation; Impression Formation; Behavior; Perspective; Internet and the Web; Social Media

Find at Harvard

February 2023
Article

OTC Intermediaries

By: Andrea L. Eisfeldt, Bernard Herskovic, Sriram Rajan and Emil Siriwardane

We study the effect of dealer exit on prices and quantities in a model of an over-the-counter (OTC) market featuring a core-periphery network with bilateral trading costs. The model is calibrated using regulatory data on the entire U.S. credit default swap (CDS) market... View Details

Keywords: OTC Markets; Intermediaries; Dealers; Credit Default Swaps; Risk Sharing; Financial Markets; Networks; Price; Risk and Uncertainty

05 May 2003
Research & Ideas

Sharing the Responsibility of Corporate Governance

which require full and fair disclosure of the financial performance of companies and of the risks associated with their business. This attitude is reminiscent of the Roaring Twenties when, according to Representative (and later Speaker of... View Details

Keywords: by Carla Tishler

2003
Other Unpublished Work

Short Selling in Practice--Intermediating Uncertain Share Availability

By: Gene M D'Avolio and André Perold

Keywords: Stocks; Risk and Uncertainty