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All HBS Web
(1,442)
- Faculty Publications (233)
- October 2008 (Revised August 2009)
- Case
Subprime Crisis and Fair-Value Accounting
This case examines the challenges in implementing fair value accounting for mortgage instruments, the role of accounting in the sub-prime crisis, and proposals for revising accounting standards given the crisis.
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Healy, Paul M., Krishna G. Palepu, and George Serafeim. "Subprime Crisis and Fair-Value Accounting." Harvard Business School Case 109-031, October 2008. (Revised August 2009.)
- September 2008 (Revised September 2011)
- Background Note
Note: Credit Rating Agencies
The note examines the role of credit rating agencies in capital markets, with emphasis on the role of these agencies in the recent credit crisis and recommendations for change.
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Keywords:
Financial Crisis;
Capital Markets;
Credit;
Governing Rules, Regulations, and Reforms;
Standards
Fruhan, William E. "Note: Credit Rating Agencies." Harvard Business School Background Note 209-056, September 2008. (Revised September 2011.)
- 2008
- Working Paper
New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability
By: Dale F. Gray, Robert C. Merton and Zvi Bodie
This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of...
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Gray, Dale F., Robert C. Merton, and Zvi Bodie. "New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability." Harvard Business School Working Paper, No. 09-015, August 2008. (Revised.)
- July 2008 (Revised December 2009)
- Case
Infosys' Relationship Scorecard: Measuring Transformational Partnerships
By: Francisco de Asis Martinez-Jerez, Robert S. Kaplan and Katherine Miller
This case analyzes Infosys' innovative approach to measuring performance in client relations. Infosys' strategy is evolving to build transformational partnerships from its original position as an outsourcer of end-to-end IT projects. A transformational partner helps...
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Keywords:
Partners and Partnerships;
Performance Evaluation;
Attorney and Client Relationships;
Job Cuts and Outsourcing;
Balanced Scorecard;
Competitive Strategy;
Commercialization;
Competitive Advantage;
Economic Growth;
Growth and Development Strategy;
Consulting Industry;
Information Technology Industry;
India
Martinez-Jerez, Francisco de Asis, Robert S. Kaplan, and Katherine Miller. "Infosys' Relationship Scorecard: Measuring Transformational Partnerships." Harvard Business School Case 109-006, July 2008. (Revised December 2009.)
- March 2008 (Revised July 2009)
- Case
U.S. Subprime Mortgage Crisis: Policy Reactions (A)
By: Laura Alfaro and Renee Kim
By March 2008, the U.S. Government and the U.S. Federal Reserve Board had taken various policy measures over the last few months to tackle the subprime mortgage crisis that threatened to drag the economy into a recession. The Bush administration approved a fiscal...
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Keywords:
Financial Crisis;
Inflation and Deflation;
Central Banking;
Mortgages;
Policy;
Business and Government Relations;
United States
Alfaro, Laura, and Renee Kim. "U.S. Subprime Mortgage Crisis: Policy Reactions (A)." Harvard Business School Case 708-036, March 2008. (Revised July 2009.)
- March 2008
- Article
Market Reactions to Export Subsidies
By: M. A. Desai and James R. Hines Jr.
This paper analyzes the economic impact of export subsidies by investigating stock price reactions to a critical event in 1997. On November 18, 1997, the European Union announced its intention to file a complaint before the World Trade Organization (WTO), arguing that...
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Keywords:
Economic Systems;
Trade;
Development Economics;
Financial Markets;
Profit;
Taxation;
Volume;
Value Creation;
Market Design;
Business Subsidiaries;
Utilities Industry;
Financial Services Industry;
Europe;
North and Central America
Desai, M. A., and James R. Hines Jr. "Market Reactions to Export Subsidies." Journal of International Economics 74, no. 2 (March 2008).
- 2007
- Working Paper
Choice, Rationality and Welfare Measurement
By: Jerry R. Green and Daniel A. Hojman
We present a method for evaluating the welfare of a decision maker, based on observed choice data. Unlike the standard economic theory of revealed preference, our method can be used whether or not the observed choices are rational. Paralleling the standard theory we...
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Green, Jerry R., and Daniel A. Hojman. "Choice, Rationality and Welfare Measurement." HKS Faculty Research Working Paper Series, No. 2144, November 2007.
- 2007
- Book
Global Competitiveness Report 2007-2008
By: Augusto Lopez-Claros, Michael Porter, Xavier Sala-i-Martin and Klaus Schwab
The World Economic Forum continues its tradition of excellence with the 29th edition of the annual Global Competitiveness Report featuring the latest indicators from the Executive Opinion Survey. The Report assesses over 130 developed and...
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Lopez-Claros, Augusto, Michael Porter, Xavier Sala-i-Martin, and Klaus Schwab. Global Competitiveness Report 2007-2008. World Economic Forum, 2007.
- November 2007
- Article
Innovation and Incentives: Evidence from Corporate R&D
By: Josh Lerner and Julie Wulf
Beginning in the late 1980s, American corporations began increasingly linking the compensation of central research personnel to the economic objectives of the corporation. This paper examines the impact of the shifting compensation of the heads of corporate research...
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Keywords:
Innovation and Invention;
Motivation and Incentives;
Goals and Objectives;
Research and Development;
Patents;
Employee Stock Ownership Plan
Lerner, Josh, and Julie Wulf. "Innovation and Incentives: Evidence from Corporate R&D." Review of Economics and Statistics 89, no. 4 (November 2007): 634–644.
- 2007
- Working Paper
New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability
By: Dale F. Gray, Robert C. Merton and Zvi Bodie
This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of...
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Gray, Dale F., Robert C. Merton, and Zvi Bodie. "New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability." NBER Working Paper Series, No. 13607, November 2007.
- 2007
- Text Book
Business Analysis and Valuation: Using Financial Statements
By: Paul M. Healy and Krishna G. Palepu
Financial statements are the basis for a wide range of business analysis. Managers, securities analysts, bankers, and consultants all use them to make business decisions. There is strong demand among business students for course materials that provide a framework for...
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Healy, Paul M., and Krishna G. Palepu. Business Analysis and Valuation: Using Financial Statements. 4th ed. Mason, OH: Thomson South-Western, 2007.
- November 2005 (Revised July 2006)
- Background Note
Understanding Economic Value Added
By: Mihir A. Desai, Fabrizio Ferri and Steve Treadwell
Explores the concept of economic value added (EVA) and its practical applications as a management control system for performance measurement and incentive compensation. Explains how EVA is measured and explores some of the adjustments to financial statements that are...
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Keywords:
Value
Desai, Mihir A., Fabrizio Ferri, and Steve Treadwell. "Understanding Economic Value Added." Harvard Business School Background Note 206-016, November 2005. (Revised July 2006.)
- 2005
- Working Paper
Can Mutual Fund Managers Pick Stocks? Evidence from Their Trades Prior to Earnings Announcements
By: Malcolm Baker, Lubomir Litov, Jessica Wachter and Jeffrey Wurgler
We consider measures of stock-picking skill of mutual fund managers based on the earnings announcement returns of the stocks that they hold and trade. Relative to standard approaches, this approach focuses on an especially informative subset of the returns data,...
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Keywords:
Stocks;
Asset Management;
Business Earnings;
Forecasting and Prediction;
Competency and Skills
Baker, Malcolm, Lubomir Litov, Jessica Wachter, and Jeffrey Wurgler. "Can Mutual Fund Managers Pick Stocks? Evidence from Their Trades Prior to Earnings Announcements." NBER Working Paper Series, No. w10685, February 2005. (First Draft in 2004.)
- December 2004
- Supplement
Basic Statistics from the World Bank's World Development Indicators, 2004
By: David A. Moss, Sarah A. Brennan and Peter Epstein
Provides basic economic and social indicators for 145 countries, drawn from the World Bank's World Development Indicators (2004). The data include: population, land area, GNP per capita, real GDP growth, life expectancy, adult illiteracy, fertility rate, access to...
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Moss, David A., Sarah A. Brennan, and Peter Epstein. "Basic Statistics from the World Bank's World Development Indicators, 2004." Harvard Business School Supplement 705-022, December 2004.
- June 2004
- Article
Market Liquidity as a Sentiment Indicator
By: Malcolm Baker and Jeremy Stein
We build a model that helps to explain why increases in liquidity-such as lower bid-ask spreads, a lower price impact of trade, or higher turnover-predict lower subsequent returns in both firm-level and aggregate data. The model features a class of irrational...
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Keywords:
Markets;
Financial Liquidity;
Price;
Trade;
Sales;
Equity;
Information;
Management Analysis, Tools, and Techniques;
Accounting Industry
Baker, Malcolm, and Jeremy Stein. "Market Liquidity as a Sentiment Indicator." Journal of Financial Markets 7, no. 3 (June 2004): 271–299.
- May 2004 (Revised July 2004)
- Case
Clarence Saunders: The Comeback King
By: Nitin Nohria and Bridget Gurtler
Follows the rise and fall of the founder of the modern supermarket, Clarence Saunders. Prior to 1915, all staple shopping took place in the market or general store, where a clerk behind a counter pulled items from shelves for customers , measured them from a barrel, or...
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Keywords:
Inflation and Deflation;
Mission and Purpose;
Business Processes;
Leadership;
Consumer Behavior;
Leadership Style;
Advertising;
Customer Relationship Management;
Customer Value and Value Chain;
Order Taking and Fulfillment
Nohria, Nitin, and Bridget Gurtler. "Clarence Saunders: The Comeback King." Harvard Business School Case 404-070, May 2004. (Revised July 2004.)
- May 2004
- Article
Disclosure Practices of Foreign Companies Interacting with U.S. Markets
We analyze the disclosure practices of companies as a function of their interaction with the U.S. markets for a group of 794 firms from 24 countries in Asia-Pacific and Europe. Our analysis uses the Transparency and Disclosure scores developed recently by Standard &...
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Keywords:
Management Practices and Processes;
Markets;
Investment;
Size;
Performance;
Cross-Cultural and Cross-Border Issues;
Corporate Governance;
Corporate Disclosure;
Trade;
United States;
Asia;
Europe
Khanna, Tarun, Krishna G. Palepu, and Suraj Srinivasan. "Disclosure Practices of Foreign Companies Interacting with U.S. Markets." Journal of Accounting Research 42, no. 2 (May 2004).
- February 2004 (Revised March 2010)
- Case
Brazil 2003: Inflation Targeting and Debt Dynamics
By: Laura Alfaro, Rafael M. Di Tella and Ingrid Vogel
In October 2002, Brazilians elected a left-wing president, Luis Inacio Lula da Silva, for the first time in that country's history. As markets faltered in response, Lula sought to reaffirm his commitment to fiscal discipline, a floating exchange rate, and inflation...
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Keywords:
Economy;
Inflation and Deflation;
Money;
Borrowing and Debt;
Policy;
Emerging Markets;
Brazil
Alfaro, Laura, Rafael M. Di Tella, and Ingrid Vogel. "Brazil 2003: Inflation Targeting and Debt Dynamics." Harvard Business School Case 704-028, February 2004. (Revised March 2010.)
- December 2003 (Revised October 2005)
- Case
High-Definition TV: The Grand Alliance
Describes political and economic forces that influenced the development of an all-digital, high-definition television (HDTV) standard in the United States between 1986 and 1996. Outlines the stakes for various government and industry participants in the...
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Keywords:
Decision Choices and Conditions;
Investment;
Policy;
Management Practices and Processes;
Emerging Markets;
Standards;
Business and Government Relations;
Networks;
Research and Development;
Technology Adoption;
Entertainment and Recreation Industry;
Technology Industry;
Japan;
Europe;
United States
Eisenmann, Thomas R. "High-Definition TV: The Grand Alliance." Harvard Business School Case 804-103, December 2003. (Revised October 2005.)
- March 2003
- Case
Insurer of Last Resort? The Federal Financial Response to September 11
By: David A. Moss and Sarah A. Brennan
Examines the federal financial response to September 11, 2001: the airline bailout, the victim compensation fund, emergency aid to New York and Washington, and terrorism reinsurance. Less than two weeks after the attacks, the government had committed almost $40 billion...
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Moss, David A., and Sarah A. Brennan. "Insurer of Last Resort? The Federal Financial Response to September 11." Harvard Business School Case 703-041, March 2003.