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- Faculty Publications (905)
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- All HBS Web (1,223)
- Faculty Publications (905)
- 17 Jul 2009
- Research Event
Business Summit: Ethics in Globalization
various forms of potentially unethical behavior. These include greed, unreasonable amounts of leverage, subtle forms of corruption (such as ratings agencies that appear to have had a conflict of interest), complex financial View Details
Keywords:
Re: Rafael M. Di Tella
- December 1997
- Case
Fixed Income Valuation
By: W. Carl Kester
A collection of problems that introduces students to the use of discounted cash flow analysis in the valuation of fixed income securities. Students are required to estimate bond prices and yields to maturity, among other items.
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Kester, W. Carl. "Fixed Income Valuation." Harvard Business School Case 298-080, December 1997.
- January 1994 (Revised July 2000)
- Exercise
Walt Disney Company's Sleeping Beauty Bonds--Duration Analysis
Walt Disney Co. issues a 100-year bond. This case describes the terms of the bond and immediate capital market reaction.
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Baldwin, Carliss Y. "Walt Disney Company's Sleeping Beauty Bonds--Duration Analysis." Harvard Business School Exercise 294-038, January 1994. (Revised July 2000.)
- 1980
- Working Paper
Taxation and the Ex-dividend Day Behavior of Common Stock Prices
By: Jerry R. Green
The behavior of stock prices around ex-dividend days has been suggested as evidence for tax-induced clientele effects and as a means to estimate the average effective tax rate faced by investors. In this paper these possibilities are examined theoretically and...
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Green, Jerry R. "Taxation and the Ex-dividend Day Behavior of Common Stock Prices." NBER Working Paper Series, No. 496, July 1980.
- December 2010 (Revised June 2011)
- Case
Boston Properties (A)
By: Ryan D. Taliaferro and Aldo Sesia
Investment manager Eliza Baena confronts an apparent convertible bond arbitrage opportunity when she notices a narrowing spread between two Boston Properties (BXP) bonds, one a convertible bond and the other a straight bond, in the wake of the 2008 Lehman bankruptcy....
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Taliaferro, Ryan D., and Aldo Sesia. "Boston Properties (A)." Harvard Business School Case 211-018, December 2010. (Revised June 2011.)
- 25 Jul 2003
- Keynote Speech
The Impact of Sarbanes-Oxley and the NYSE Rules on American Corporate Governance
By: W. Carl Kester
- December 2008
- Article
Style Investing and Institutional Investors
By: Kenneth A. Froot and Melvyn Teo
This paper explores institutional investors' trades in stocks grouped by style and the relationship of these trades with equity market returns. It aggregates transactions drawn from a large universe of approximately $6 trillion of institutional funds. To analyze style...
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Keywords:
Forecasting and Prediction;
Behavioral Finance;
Stocks;
Investment Return;
Market Transactions;
Performance Expectations;
Personal Characteristics;
Financial Services Industry
Froot, Kenneth A., and Melvyn Teo. "Style Investing and Institutional Investors." Journal of Financial and Quantitative Analysis 43, no. 4 (December 2008): 883–906. (Revised from: Equity Style Returns and Institutional Investor Flows, Harvard Business School Working Paper No. 04-048, June 2004.)
- September 2004
- Article
Decomposing the Persistence of International Equity Flows
By: Kenneth A. Froot and J. Tjornhom Donohue
- August 2014 (Revised March 2015)
- Case
Optimization and Expansion at OpenTable
By: Benjamin Edelman and Karen Webster
OpenTable considers adjustments to increase its benefits to merchants, including a novel payments service that lets customers skip the multi-step process of using a credit card.
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Keywords:
Payments;
Pricing;
Mobile;
Rollout;
Incrementality;
Innovation Strategy;
Credit Cards;
Accommodations Industry;
Information Technology Industry;
United States
Edelman, Benjamin, and Karen Webster. "Optimization and Expansion at OpenTable." Harvard Business School Case 915-003, August 2014. (Revised March 2015.) (request courtesy copy.)
- March 2013
- Supplement
FX Risk Hedging at EADS
By: W. Carl Kester
- 2005
- Working Paper
Money Illusion in the Stock Market: The Modigliani-Cohn Hypothesis
By: Randolph B. Cohen, Christopher Polk and Tuomo Vuolteenaho
Modigliani and Cohn [1979] hypothesize that the stock market suffers from money illusion, discounting real cash flows at nominal discount rates. While previous research has focused on the pricing of the aggregate stock market relative to Treasury bills, the...
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Cohen, Randolph B., Christopher Polk, and Tuomo Vuolteenaho. "Money Illusion in the Stock Market: The Modigliani-Cohn Hypothesis." NBER Working Paper Series, No. 11018, January 2005.
- August 2003
- Article
The Really Long-Run Performance of Initial Public Offerings: The Pre-Nasdaq Evidence
By: Paul A. Gompers and Josh Lerner
Gompers, Paul A., and Josh Lerner. "The Really Long-Run Performance of Initial Public Offerings: The Pre-Nasdaq Evidence." Journal of Finance 58, no. 4 (August 2003): 1355–1392.
- January 1983 (Revised February 1988)
- Case
Hospital Corp. of America (B)
By: W. Carl Kester
Focuses on HCAs financing options for reaching its target capital structure. The options include new equity conversion of convertible debentures, a debt-for-equity swap, the sale of assets, and fixed-rate debt. Students must address the problem of market timing and...
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Keywords:
Assets;
Capital Structure;
Cash Flow;
Equity;
Debt Securities;
Credit Derivatives and Swaps;
Health Industry;
United States
Kester, W. Carl. "Hospital Corp. of America (B)." Harvard Business School Case 283-054, January 1983. (Revised February 1988.)
- November 1994 (Revised March 1995)
- Background Note
Capital Projects as Real Options: An Introduction
By: Timothy A. Luehrman
Introduces a framework for evaluating corporate investment projects as call options. Presumes readers are familiar with basic option pricing and basic capital budgeting rules. Explains the motivation for viewing projects as options; presents a mapping between a capital...
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Luehrman, Timothy A. "Capital Projects as Real Options: An Introduction." Harvard Business School Background Note 295-074, November 1994. (Revised March 1995.)
- June 1985 (Revised August 1994)
- Background Note
U.S. Government Debt Market and the Structure of Interest Rates, The
Concerns U.S. Government Debt Market and various conventions used to depict the structure of interest rates.
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Mason, Scott P. "U.S. Government Debt Market and the Structure of Interest Rates, The." Harvard Business School Background Note 285-186, June 1985. (Revised August 1994.)
- February 2006
- Case
Fraikin SA
By: W. Carl Kester, Vincent Marie Dessain and Monika Stachowiak
Provides an example of a so-called "whole business" securitization. In early 2004, Fraikin, France's leading industrial vehicle rental company, compares several alternatives for refinancing a large bridge loan within a year. Presents three primary options: a classic...
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Keywords:
Debt Securities;
Transportation;
Renting or Rental;
Transportation Industry;
Service Industry;
France
Kester, W. Carl, Vincent Marie Dessain, and Monika Stachowiak. "Fraikin SA." Harvard Business School Case 206-090, February 2006.
- 2005
- Working Paper
Aggregate Corporate Liquidity and Stock Returns
By: Robin Greenwood
Aggregate investment in cash and liquid assets as a share of total corporate investment is negatively related to subsequent U.S. stock market returns between 1947 and 2003. The share of cash in total investment is a more stable predictor of returns than scaled price...
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- December 1996 (Revised October 1999)
- Case
Kidder, Peabody & Co.: Creating Elusive Profits
By: Robert L. Simons and Antonio Davila
On April 17, 1994, Kidder, Peabody & Co. announced a $350 million charge against earnings resulting from the discovery of false trading profits. That same day, the termination of Joseph Jett's employment with the company was made public. By illustrating the mechanics...
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Keywords:
Bonds;
Governance Controls;
Crime and Corruption;
Financial Reporting;
Profit;
Financial Strategy
Simons, Robert L., and Antonio Davila. "Kidder, Peabody & Co.: Creating Elusive Profits." Harvard Business School Case 197-038, December 1996. (Revised October 1999.)
- February 1986 (Revised May 1986)
- Case
PQ Corp.: Adjustable Tender Security
Keywords:
Financial Instruments
Fruhan, William E., Jr. "PQ Corp.: Adjustable Tender Security." Harvard Business School Case 286-078, February 1986. (Revised May 1986.)
- September 23, 2008
- Editorial
Beyond a Bailout, Wall Street Needs New Rules
By: A. Zelleke
Zelleke, A. "Beyond a Bailout, Wall Street Needs New Rules." Christian Science Monitor (September 23, 2008).