Lecture | 23 Jun 1986

The Global Integration of Financial Markets

Keywords: Markets; Finance; Integration;

Language: English

Format: Print

Citation:

Kester, W. Carl. "The Global Integration of Financial Markets." Lecture at the Harvard Business School Research Colloquium, Development and Changes in the U.S. Financial Services Sector, Boston, MA, June 23, 1986. (Session discussion leader.)

In early 1993, Stone Container was heavily burdened by debt following a series of highly leveraged acquisitions. A prolonged depression in paper prices necessitated the development of a comprehensive financial plan to relieve the financial pressures on Stone. Among the alternatives to be considered are straight debt, convertible debt, and equity.

The Schön Klinik is a private, for-profit German hospital group trying to establish itself as a premium health care provider in a competitive German market. The case details Schön Klinik's founding, its early focus on measurement and improvement, and the design and implementation of a system-wide structure for measuring and reporting actual health outcomes. The case details the care cycle for eating disorder patients and highlights the role outcomes measurement has played in improving eating disorder care over time. It ends with a discussion of Schön's innovative bundled reimbursement models and challenges the reader to explore how to develop new pricing and care delivery models that encourage integration of care around patient medical conditions. The case also discusses the German health care system, its regulatory constraints, and Schön's attempts to change the paradigm of competition in the sector.

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