Faculty & Research

Publications

Publications

Filter Results : (336) Arrow Down

Show Results For

Financial Risk Remove Financial Risk →

Page 1 of 336 Results →

Are you looking for?

3 Steps to Reduce Financial System Risk
Regulatory authorities face 2 challenges that need to be addressed forcefully if they are to contain a new source of systemic risk in international...
→ Search All HBS Web
  • March 2021
  • Case

Yale Investments Office: November 2020
By: Josh Lerner, Jo Tango and Alys Ferragamo
David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments—hedge funds, private equity, venture capital, real estate, natural resources—given the impact of the COVID-19...  View Details
Keywords: University Endowment; Asset Allocation; Real Estate; Equities; Fixed Income; Covid-19; Asset Management; Private Equity; Venture Capital; Natural Resources; Resource Allocation; Investment; Investment Portfolio; Health Pandemics; Financial Crisis; Financial Services Industry; Real Estate Industry; Energy Industry; Connecticut
Related
  • February 2021
  • Case

Enterprise Agility at Komerční Banka
By: Euvin Naidoo, Suraj Srinivasan and Sarah Gulick
In 2017, Jan Juchelka, the new CEO of Komerční Banka, identified the need for the bank to start an enterprise wide agile transformation. He started by working to create a sense of urgency to kick-start a process to enable the level of service delivery to customers he...  View Details
Keywords: Agile; Agility; Transformation; Organizational Structure; Business Headquarters; Management Analysis, Tools, and Techniques; Management Systems; Banking Industry; Czech Republic
Related
  • January 2021
  • Case

Leading Culture Change at SEB
By: Amy C. Edmondson and Elena Corsi
The Risk organization at SEB, a leading Nordic financial services group founded in 1856, undertook a culture change program focused on psychological safety, empathic listening, and strategic framing. The program enabled risk organization teams to make progress on...  View Details
Keywords: Leadership; Risk Management; Leading Change; Organizational Culture; Decision Making; Banking Industry; Sweden
Related
  • February 2021
  • Article

Do Household Wealth Shocks Affect Productivity? Evidence from Innovative Workers During the Great Recession
By: S. Bernstein, T. McQuade and R. Townsend
We investigate how the deterioration of household balance sheets affects worker productivity, and, in turn, economic downturns. Specifically, we compare the output of innovative workers who experienced differential declines in housing wealth during the financial crisis...  View Details
Keywords: Great Recession; Household; Financial Condition; System Shocks; Employees; Performance Productivity
Related
  • January 2021
  • Case

The FIRE Savings Calculator
By: Michael Parzen and Paul J. Hamilton
This case follows Carol Muñoz, a member of the Financial Independence, Retire Early (FIRE) lifestyle movement. At the age of 45, Carol is considering retiring and living off the $1 million she has accumulated. Using Monte Carlo simulation, Carol forecasts the...  View Details
Keywords: Analysis; Forecasting and Prediction; Financial Strategy; Investment Portfolio; Investment Return; Personal Finance; Saving; Risk and Uncertainty; Diversification; Theory; Financial Services Industry
Related
  • January 2021
  • Case

'GEnron?' Markopolos versus General Electric (A)
By: Jonas Heese and David Lane
In August 2019, Harry Markopolos—the forensic accountant known for uncovering Bernie Madoff’s Ponzi scheme—alleged that General Electric had committed accounting fraud totaling $38 billion, coining the term “GEnron” for perceived similarities with the 2001 accounting...  View Details
Keywords: Financial Statements; Communication; Energy; Financial Condition; Insurance; Performance; Planning; Business and Shareholder Relations; Risk and Uncertainty; Value; Insurance Industry; Financial Services Industry; Energy Industry
Related
  • January–February 2021
  • Article

Compensation Packages That Actually Drive Performance
By: Boris Groysberg, Sarah Abbott, Michael R. Marino and Metin Aksoy
By aligning executives’ financial incentives with company strategy, a firm can inspire its management to deliver superior results. But it can be hard to get pay packages right. In this article four experts break down the key elements of compensation and explain how to...  View Details
Keywords: Executive Compensation; Compensation and Benefits; Motivation and Incentives; Strategy; Performance
Related
  • 2021
  • Working Paper

Pricing of Climate Risk Insurance: Regulatory Frictions and Cross-Subsidies
By: Ishita Sen and Ana-Maria Tenekedjieva
Homeowners’ insurance provides households financial protection from climate losses. To improve access and affordability, state regulators impose price controls on insurance companies. Using novel data, we construct a new measure of rate setting frictions for individual...  View Details
Keywords: Climate Risk; Homeowners' Insurance; Price Controls; Financial Regulation; Cross-subsidization; Climate Change; Household; Insurance; Price; Governance Controls; Financial Institutions; United States
Related
  • 2021
  • Working Paper

No-fault Default, Chapter 11 Bankruptcy, and Financial Institutions
By: Robert C. Merton and Richard T. Thakor
This paper analyzes the costs and benefits of a no-fault-default debt structure as an alternative to the typical bankruptcy process. We show that the deadweight costs of bankruptcy can be avoided or substantially reduced through no-fault-default debt, which permits a...  View Details
Keywords: No-fault Default; Chapter 11; Insolvency and Bankruptcy; Borrowing and Debt; Governing Rules, Regulations, and Reforms; Financial Institutions; Contracts
Related
  • November 2020 (Revised February 2021)
  • Case

Wes Hall and the BlackNorth Initiative
By: Shikhar Ghosh, Marilyn Morgan Westner and Reza Satchu
Wes Hall founded Kingsdale Advisors and built it into one of Canada’s leading shareholder services and advisory firms. Influenced by the Black Lives Matter (BLM) movement and a series of social injustices—specifically the death of George Floyd in police custody—Hall...  View Details
Keywords: Racism; Cultural Entrepreneurship; Social Entrepreneurship; Diversity; Race; Social Issues; Ethics; Canada; North America
Related
  • October 2020
  • Case

Unison Capital Korea: Gong Cha
By: Victoria Ivashina and Sangyun Lee
In the Spring of 2017, Soomin Kim, Founding Partner of Unison Capital Korea, and his team were debating the potential exit of Unison Capital Korea’s investment in Gong Cha Korea, the sole local franchisor of the premium milk tea brand that they proprietarily sourced...  View Details
Keywords: Exit; Strategic Decision Making; Private Equity; Investment; Strategy; Investment Return; Decision Making
Related
  • 2020
  • Working Paper

Income Volatility Increases Financial Impatience
By: Colin West, A.V. Whillans and Sanford DeVoe
Using a multi-method approach, we investigate whether income volatility is associated with financial impatience—the preference to receive a small sum of money immediately over a larger sum of money later. We find that experiencing more income volatility—including a...  View Details
Keywords: Income Volatility; Compensation; Impatience; Time Preferences; Income; Personal Finance; Behavior; Demographics; Policy
Related
  • 2020
  • Chapter

Climate Change Is Going to Transform Where and How We Build
By: John D. Macomber
As fires, floods, and droughts increasingly threaten homes, businesses, and other institutions, climate risk has become financial risk. This implies that homeowners and investors have been making location decisions without properly pricing the cost of potential peril,...  View Details
Keywords: Climate Change; Housing; Mortgages; Geographic Location; Real Estate Industry
Related
  • August 2020
  • Article

Leverage and the Beta Anomaly
By: Malcolm Baker, Mathias F. Hoeyer and Jeffrey Wurgler
The well-known weak empirical relationship between beta risk and the cost of equity—the beta anomaly—generates a simple tradeoff theory: As firms lever up, the overall cost of capital falls as leverage increases equity beta, but as debt becomes riskier the marginal...  View Details
Keywords: Risk Anomaly; Leverage; Capital Structure; Risk and Uncertainty
Related
  • 2020
  • Working Paper

What Can Economics Say About Alzheimer's Disease?
By: Amitabh Chandra, Courtney Coile and Corina Mommaerts
Alzheimer’s Disease (AD) affects one in ten people aged 65 or older and is the most expensive disease in the United States. We describe the central economic questions raised by AD. While there is overlap with the economics of aging, the defining features of the...  View Details
Keywords: Health Disorders; Health Care and Treatment; Economics
Related
  • Article

The Impact of COVID-19 on Small Business Outcomes and Expectations
By: Alexander Bartik, Marianne Bertrand, Zoë B. Cullen, Edward L. Glaeser, Michael Luca and Christopher Stanton
To explore the impact of COVID on small businesses, we conducted a survey of more than 5,800 small businesses between March 28 and April 4, 2020. Several themes emerged. First, mass layoffs and closures had already occurred—just a few weeks into the crisis. Second, the...  View Details
Keywords: Covid-19; Stimulus; Cares Act; Health Pandemics; Small Business; Surveys
Related
  • July 2020
  • Case

Mortgage Backed Securities and the Covid-19 Pandemic
By: Emil N. Siriwardane, Luis M. Viceira and Dean Xu
In April 2020, global financial markets were still reeling as the COVID-19 pandemic spread rapidly across the world. Global equity markets had initially fallen by 30% in response to the pandemic, and high-yield credit markets had dropped by nearly 20%. In contrast,...  View Details
Keywords: Covid-19; Mortgage-backed Securities; Health Pandemics; Financial Markets; Assets; Resource Allocation; Financial Instruments; Decision Making
Related
  • June 2020 (Revised September 2020)
  • Case

Shellye Archambeau: Becoming a CEO (A)
By: Tsedal Neeley and John Masko
With the economy in a freefall, MetricStream is losing customers, hemorrhaging cash and struggling to make payroll. Several board members are threatening to quit. Others are pressing to sell the company even at dismally low valuations. It’s 2008 and lightning has...  View Details
Keywords: Leadership; Race; Gender; Leadership Style; Risk and Uncertainty; Change; Prejudice and Bias; Decision Making; Personal Development and Career; Technology Industry; California
Related
  • June 2020
  • Supplement

Shellye Archambeau: Becoming a CEO (B)
By: Tsedal Neeley and Briana Richardson
With the economy in a freefall, MetricStream is losing customers, hemorrhaging cash and struggling to make payroll. Several board members are threatening to quit. Others are pressing to sell the company even at dismally low valuations. It’s 2008 and lightning has...  View Details
Keywords: Race; Gender; Leadership Style; Risk and Uncertainty; Change; Prejudice and Bias; Decision Making; Personal Development and Career; Technology Industry; California
Related
  • June 2020
  • Case

RBC: Transforming Transformation (A)
By: Ethan Bernstein, Francesca Gino and Aldo Sesia
In 2017, the Royal Bank of Canada (RBC), a Canadian financial icon, mandated a swat team of “enablers of collaboration” (their job description) to support the personal and commercial bank in the enterprise-wide RBC Cultural Transformation initiative. Historically,...  View Details
Keywords: Service Delivery; Technology; Transformation; Change Management; Collaborative Innovation and Invention; Innovation and Management; Decision Making; Human Resources; Management Systems; Organizational Design; Organizational Structure; Groups and Teams; Management Teams; Banking Industry; Financial Services Industry; Canada
Related

Are you looking for?

3 Steps to Reduce Financial System Risk
Regulatory authorities face 2 challenges that need to be addressed forcefully if they are to contain a new source of systemic risk in international...
→ Search All HBS Web