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- Faculty Publications (22)
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- All HBS Web (75)
- Faculty Publications (22)
- 2005
- Other Unpublished Work
Corporate Financing Decisions When Investors Take the Path of Least Resistance
By: Malcolm Baker, Joshua Coval and Jeremy Stein
We explore the consequences for corporate financial policy that arise when investors exhibit inertial behavior. One implication of investor inertia is that, all else equal, a firm pursuing a strategy of equity-financed growth will prefer a stock-for-stock merger to...
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Keywords:
Decisions;
Behavior;
Stocks;
Mergers and Acquisitions;
Policy;
Investment;
Financial Institutions;
Equity;
Corporate Finance
Baker, Malcolm, Joshua Coval, and Jeremy Stein. "Corporate Financing Decisions When Investors Take the Path of Least Resistance." NBER Working Paper Series, April 2005. (First Draft in 2004.)
- 08 Aug 2012
- Working Paper Summaries
Monetary Policy and Long-Term Real Rates
Keywords:
by Samuel G. Hanson & Jeremy C. Stein
- 2016
- Working Paper
Credit Migration and Covered Interest Rate Parity
By: Gordon Y Liao
I document economically large and persistent discrepancies in the pricing of credit risk between corporate bonds denominated in different currencies. The discrepancies amount to 50-100 basis points on trillions of dollars of debt notional. I relate this violation of...
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Keywords:
Market Segmentation;
Debt Issuance;
Covered Interest Rate Parity;
Cross-currency Basis;
Credit Risk;
Financial Markets;
Credit
Liao, Gordon Y. "Credit Migration and Covered Interest Rate Parity." Working Paper, October 2016.
- March 2024 (Revised March 2024)
- Case
Angel City Football Club: Scoring a New Model
By: Jeffrey F. Rayport, Jennifer Fonstad and Nicole Tempest Keller
In January 2024, Kara Nortman, Julie Uhrman, and Natalie Portman, the founders of Angel City Football Club (ACFC) were developing the club’s first three-year strategic plan. Founded in 2020, ACFC had a star-studded investor group, including Portman and celebrities such...
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- Web
Business Economics Online Course | HBS Online
Elasticity Elasticity as a General Concept ShowHide Details Concepts Willingness to Pay A Different Visual Representation of WTP Elasticity Featured Exercise Construct supply and demand curves for...
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- 06 Jan 2014
- Working Paper Summaries
Mechanisms of Technology Re-Emergence and Identity Change in a Mature Field: Swiss Watchmaking, 1970-2008
- Web
Behavioral Finance & Financial Stability
Financial Sector More Info The Impact of Pensions and Insurance on Global Yield Curves By: Robin Greenwood & Annette Vissing-Jorgensen JUN 2018 In this NBER working paper, researchers from the Behavioral Finance and Financial Stability...
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- 30 May 2023
- Research & Ideas
Can AI Predict Whether Shoppers Would Pick Crest or Colgate?
mean and the distribution around that, and then look at the overall shape of what we get, and determine whether we are actually getting something that looks like a realistic demand curve or not,” Israeli...
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- Web
California - Global
positive impact on its local community and had started to bend the curve toward greater pay equity in women’s sports—the club’s ultimate goal. The founders knew there was much more to do to capitalize on the club’s momentum. There were...
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- Web
Finance - Faculty & Research
Finance Finance May 2014 Article Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment By: Shawn A. Cole, Daniel Stein and Jeremy Tobacman This paper estimates how experimentally-manipulated experiences with a...
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- 05 Jul 2022
- What Do You Think?
Have We Seen the Peak of Just-in-Time Inventory Management?
those days, there was fascination with air freight and the trade-off of inventory and transportation costs—as in spending more for air transport in order to spend less on owning inventory, thereby optimizing what we called the “total cost curve.” (I can still draw...
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- 01 Dec 2023
- News
Thinking Ahead
personalization for a customer, thinking through the right shelf assortment in a store, or stocking a warehouse, it implies changes in your process.” Finally, AI’s ability to rapidly test different options demands an experimental,...
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- Web
Entrepreneurship - Faculty & Research
was reflected in its estimated private market valuation of $180 million, the highest in the league. But perhaps equally important to ACFC, the club had made a positive impact on its local community and had started to bend the curve toward...
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- 26 Jun 2018
- First Look
New Research and Ideas, June 26, 2018
linked to the regulatory discount curve. When regulators reduce the dependence of the regulatory discount curve on a particular security, P&I demand for the security falls and its yield increases. We...
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Keywords:
Dina Gerdeman
- 07 May 2020
- Research & Ideas
The One Good Thing Caused by COVID-19: Innovation
pandemic. An increase in risk perception makes consumers more willing to pay for safety features, which, in turn, provides producers greater incentives to develop and commercialize technologies that address consumers' demands for safety....
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Keywords:
by Hong Luo and Alberto Galasso
- Web
Research - Behavioral Finance & Financial Stability
Info The Impact of Pensions and Insurance on Global Yield Curves By: Robin Greenwood & Annette Vissing-Jorgensen JUN 2018 In this NBER working paper, researchers from the Behavioral Finance and Financial Stability Initiative evaluate the...
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- 08 Aug 2005
- Research & Ideas
A Balanced Scorecard Approach To Measure Customer Profitability
profitable to least profitable (loss). The vertical axis represents cumulative customer profitability. The shape of the curve in Figure 1 occurs in virtually every customer profitability study ever done, in which 15 percent to 20 percent...
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Keywords:
by Robert S. Kaplan
- 06 Jan 2014
- Research & Ideas
Technology Re-Emergence: Creating New Value for Old Innovations
the country was producing only 10 percent of the world's watches. Yet Switzerland has reemerged as the global leader of watch exports (by export value), due to a newfound market demand for old-style mechanical watches. This curious...
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- 01 Feb 2021
- What Do You Think?
Has the New Economy Finally Arrived?
contributed to what came to be regarded as a target unemployment rate, with anything less causing excessive inflation. At one time, many economists thought this to be as high as 6 percent. The Phillips curve has taken its lumps over the...
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Keywords:
by James Heskett
- Web
Energy | Baker Library | Bloomberg Center | Harvard Business School
the industry, providing current data and forecasts on demand and consumption. 55 1812 World Energy Outlook /citations/world-energy-outlook Covers all sectors of the industry, providing current data and forecasts on View Details