This website uses technical, customisation and analytical cookies, both first-party and third-party, to anonymously facilitate browsing and analyse statistics on use of the website. Learn more
Search results
-
Real Problem with Pensions (Spanish version)
Merton, Robert C.Article HBS-F0412HAccounting and ControlNobel laureate Robert C. Merton explains that companies sometimes misvalue capital investment opportunities because they fail to adjust their cost-of-capital calculations to reflect pension risks.Starting at €8.20
-
Innovation Risk: How to Make Smarter Decisions
Merton, Robert C.Article HBS-R1304B-EStrategyNew products and services are created to enable people to do tasks better than they previously could or do things they couldn't before. But innovations also carry risks. Just how risky an innovation turns out to be depends in great measure on the choices people make in using it. Attempts to gauge the riskiness of an innovation must take into account the limitations of the models--formal and informal--on which people base their decisions about how...Starting at €8.20
-
The Crisis in Retirement Planning
Merton, Robert C.Article HBS-R1407B-EEconomicsCorporate America began to really take notice of the looming retirement crisis in the wake of the dot-com crash, when companies in major industries went bankrupt in large part because of their inability to meet their pension obligations. The result was an acceleration of America's shift away from employer-sponsored pension plans toward defined-contribution plans--epitomized by the ubiquitous 401(k)--which transfer the investment risk from the com...Starting at €8.20
-
Making the Financial Markets Safe: A Conversation with Robert Merton
Merton, Robert C.; Champion, DavidArticle HBS-R0910J-EFinanceIn this edited conversation with HBR senior editor David Champion, Merton, a professor at Harvard Business School, casts light on the role of derivatives in the current financial crisis. Merton was awarded the Nobel Prize in 1997 for his part in developing a new method to value derivatives, and after publication of that development, the markets in derivatives exploded: Today, the estimated notional value of derivative contracts exceeds $500 trill...Starting at €8.20
-
For the Last Time: Stock Options Are an Expense (Spanish version)
Bodie, Zvi; Kaplan, Robert S.; Merton, Robert C.Article HBS-R0303DAccounting and ControlShould stock options be recorded as an expense on a company's income statement and balance sheet, or should they remain where they are, relegated to footnotes? The authors believe the case for expensing options is overwhelming. In this article, Nobel laureate Robert Merton, one of the inventors of the Black-Scholes option-pricing model; his co-author on the classic textbook Finance, Zvi Bodie; and Robert Kaplan, creator of the Balanced Scorecard,...Starting at €8.20