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Show Results For
- All HBS Web (675)
- Faculty Publications (226)
- Article
Sustainability in Financial Services Is Not About Being Green
By: Robert G. Eccles and George Serafeim
Keywords:
Sustainability;
Financial Services;
Banks;
Insurance Companies;
Risk;
Risk Management;
Insurance;
Accounting;
Banks and Banking;
Financial Services Industry
Eccles, Robert G., and George Serafeim. "Sustainability in Financial Services Is Not About Being Green." Harvard Business Review Blogs (May 15, 2013).
- 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.
- January 2008
- Article
On the Pricing of Intermediated Risks: Theory and Application to Catastrophe Reinsurance
By: K. A. Froot and P. O'Connell
Keywords:
Catastrophe Risk;
Corporate Finance;
Banking And Insurance;
Hedging;
Banking;
Financial Markets;
Insurance;
Policy;
Risk Management;
Natural Disasters;
Cost of Capital;
Asset Pricing;
Insurance Industry
Froot, K. A., and P. O'Connell. "On the Pricing of Intermediated Risks: Theory and Application to Catastrophe Reinsurance." Special Issue on Dynamics of Insurance Markets: Structure, Conduct, and Performance in the 21st Century Journal of Banking & Finance 32, no. 1 (January 2008): 69–85. (Revised from NBER Working Paper No. 6011, April 1997, Harvard Business School Working Paper No. 98-024, 1997.)
- 2013
- Working Paper
How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment
By: Shawn Cole, Xavier Gine and James Vickery
Weather is a key source of income risk, particularly in emerging market economies. This paper uses a randomized controlled trial involving a sample of Indian farmers to study how an innovative rainfall insurance product affects production decisions. We find that...
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Keywords:
Risk Management;
Production;
Weather;
Insurance;
Emerging Markets;
Agribusiness;
Insurance Industry;
Agriculture and Agribusiness Industry;
India
Cole, Shawn, Xavier Gine, and James Vickery. "How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment." Harvard Business School Working Paper, No. 13-080, March 2013. (Revised September 2014.)
- Article
Can Analysts Assess Fundamental Risk and Valuation Uncertainty? An Empirical Analysis of Scenario-Based Value Estimates
By: Peter R. Joos, Joseph D. Piotroski and Suraj Srinivasan
We use a dataset of sell-side analysts' scenario-based valuation estimates to examine whether analysts reliably assess the risk surrounding a firm's fundamental value. We find that the spread in analysts' state-side contingent valuations captures the riskiness of...
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Keywords:
Analyst Forecasts;
Scenarios;
Uncertainty;
Risk and Uncertainty;
Valuation;
Forecasting and Prediction
Joos, Peter R., Joseph D. Piotroski, and Suraj Srinivasan. "Can Analysts Assess Fundamental Risk and Valuation Uncertainty? An Empirical Analysis of Scenario-Based Value Estimates." Journal of Financial Economics 121, no. 3 (September 2016): 645–663.
- 2022
- Working Paper
A Conceptualization of Sub-Living Wages: Liabilities, Leverage, and Risk
By: Drew Keller, Katie Panella and George Serafeim
Currently the accounting system records employee wages as an expense in the income statement. However, paying below living wages can expose an organization to reputational and operational risks. In this paper, we offer an alternative conceptualization of the issue of...
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Keywords:
Accounting;
Impact Accounting;
Leverage;
Wages;
Compensation and Benefits;
Business and Stakeholder Relations;
Business and Government Relations;
Social Issues;
Human Capital
Keller, Drew, Katie Panella, and George Serafeim. "A Conceptualization of Sub-Living Wages: Liabilities, Leverage, and Risk." Harvard Business School Working Paper, No. 22-076, June 2022.
- 10 Dec 2021
- Research & Ideas
Truth Be Told: Unpacking the Risks of Whistleblowing
relying on whistleblowers to prevent and investigate fraud, the professors realized, there is little understanding about the real risks faced by an employee who steps forward. Dey and Heese set out to study the experiences of about 2,400...
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Keywords:
by April White
- 17 Sep 2020
- Research & Ideas
Many Small-Business Employees May Be Close to Losing Health Insurance
at risk of cancelling health insurance coverage within two months, the researchers found. Almost one in five, 18.9 percent, predicted they’d be able to keep paying premiums for no more than two months....
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- Article
Reaching for Yield in the Bond Market
By: Bo Becker and Victoria Ivashina
Reaching for yield—the propensity to buy riskier assets in order to achieve higher yields—is believed to be an important factor contributing to the credit cycle. This paper analyzes this phenomenon in the corporate bond market. Specifically, we show evidence for...
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Keywords:
Fixed Income;
Reaching For Yield;
Financial Intermediation;
Insurance Companies;
Insurance;
Assets;
Bonds;
Investment Return;
Investment Portfolio;
Risk Management;
Insurance Industry
Becker, Bo, and Victoria Ivashina. "Reaching for Yield in the Bond Market." Journal of Finance 70, no. 5 (October 2015): 1863–1902.
- April 1996 (Revised October 1999)
- Case
Risk of Stocks in the Long Run, The: The Barnstable College Endowment
By: Andre F. Perold
The manager of the Barnstable College Endowment is evaluating proposals to increase the endowment's exposure to stocks based on an analysis that shows stocks to be much safer over long holding periods.
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Keywords:
Risk Management;
Financial Management;
Stocks;
Financial Services Industry;
Education Industry
Perold, Andre F. "Risk of Stocks in the Long Run, The: The Barnstable College Endowment." Harvard Business School Case 296-073, April 1996. (Revised October 1999.)
- 01 Feb 1997
- News
Merton Discusses Risk Management at Dean's Seminar
Merton noted that "risk management will become an essential internal process for the lending institution if it expects to remain viable and competitive." By demonstrating mathematically how to determine and hedge risk View Details
Keywords:
Elizabeth McNair
- 13 Nov 2006
- Working Paper Summaries
A New Framework for Analyzing and Managing Macrofinancial Risks of An Economy
- Research Summary
Concentrated Capital Losses and the Pricing of Corporate Credit Risk
In studying the U.S. credit default swap (CDS) market, Professor Siriwardane has discovered that the selling of CDS protection is extremely concentrated, with five sellers accounting for nearly half the market. Further, in contrast to what neoclassical theory... View Details
- 02 Sep 2009
- Working Paper Summaries
Information Risk and Fair Value: An Examination of Equity Betas and Bid-Ask Spreads
- 31 Mar 2023
- Research & Ideas
Can a ‘Basic Bundle’ of Health Insurance Cure Coverage Gaps and Spur Innovation?
By the early 1980s, several high-income countries—including Switzerland, the United Kingdom, Australia, Canada, and New Zealand—had universal health insurance covering 100 percent of the population. Meanwhile, 40 years later, the United...
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- Research Summary
Self-environment relationship and its effect on decisions under risk and uncertainty
My research seek to better understand the main cognitive and social abilities that guide our judgments, and the ways they interact with aspects of the situation to shape humans' decisions. It is currently comprised of three related... View Details
- 2014
- Working Paper
Putting Skin in the Game: Managerial Ownership and Bank Risk-Taking
By: Jan Bouwens and Arnt Verriest
This paper examines the relation between managerial ownership and bank risk exposure for a large sample of international financial institutions. We seek empirical evidence suggested by theories concerning conflicts between managers and owners over risk-taking. We argue...
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Keywords:
Managerial Equity Ownership;
Financial Risk;
Banks;
Motivation and Incentives;
Risk Management;
Employee Ownership;
Corporate Governance;
Banks and Banking;
Banking Industry
Bouwens, Jan, and Arnt Verriest. "Putting Skin in the Game: Managerial Ownership and Bank Risk-Taking." Harvard Business School Working Paper, No. 14-070, February 2014. (Revised June 2014.)
- March 2023
- Supplement
Allianz Türkiye (C): Managing the 2017 Hail Storm
By: John D. Macomber and Fares Khrais
Allianz Turkey is a property casualty insurance company operating in a region experiencing increasing losses from natural catastrophe events related to climate change, for example hail, wildfire, and flooding. There are also substantial other natural catastrophe...
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Keywords:
Insurance And Reinsurance;
Natural Disasters;
Turkey;
Insurance;
Climate Change;
Analytics and Data Science;
Insurance Industry;
Insurance Industry;
Turkey
Macomber, John D., and Fares Khrais. "Allianz Türkiye (C): Managing the 2017 Hail Storm." Harvard Business School Supplement 223-084, March 2023.
- March 2023 (Revised April 2024)
- Case
Allianz Türkiye: Adapting to Climate Change
By: John D. Macomber and Fares Khrais
Allianz Turkey is a property casualty insurance company operating in a region experiencing increasing losses from natural catastrophe events related to climate change, for example hail, wildfire, and flooding. There are also substantial other natural catastrophe...
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Keywords:
Insurance And Reinsurance;
Natural Disasters;
Turkey;
Insurance;
Climate Change;
Analytics and Data Science;
Insurance Industry;
Insurance Industry;
Turkey
Macomber, John D., and Fares Khrais. "Allianz Türkiye: Adapting to Climate Change." Harvard Business School Case 223-074, March 2023. (Revised April 2024.)