Robin Greenwood

 

Robin Greenwood is the George Gund Professor of Finance and Banking at the Harvard Business School. He is also a Research Associate at the National Bureau of Economic Research.

This website is updated infrequently. For up-to-date working papers, please visit the official HBS website.

 

Link to official HBS homepage

Statement on Outside Activities

 

 

 

Working Papers

Greenwood, Robin, and Samuel G. Hanson. "Waves in Ship Prices and Investment." NBER Working Paper Series, No. 19246, July 2013. (Internet Appendix Here.)

Greenwood, Robin, Samuel G. Hanson, and Jeremy C. Stein. "A Comparative-Advantage Approach to Government Debt Maturity." May 2014. Mimeo. (Internet Appendix Here.)

 

Published Papers

Barberis, Nicholas, Robin Greenwood, Lawrence Jin, and Andrei Shleifer. "X-CAPM: An Extrapolative Capital Asset Pricing Model." Journal of Financial Economics (forthcoming).

Greenwood, Robin, Augustin Landier, and David Thesmar. "Vulnerable Banks." Journal of Financial Economics(forthcoming).

Greenwood, Robin, and Dimitri Vayanos. "Bond Supply and Excess Bond Returns." Review of Financial Studies 27, no. 3 (March 2014): 663–713. (Also earlier version NBER Working Paper Series, No. 13806, February 2008.)

Greenwood, Robin, and Andrei Shleifer. "Expectations of Returns and Expected Returns." Review of Financial Studies 27, no. 3 (March 2014): 714–746.

Greenwood, Robin, and David S. Scharfstein. "The Growth of Finance." Journal of Economic Perspectives 27, no. 2 (Spring 2013): 3–28.

Greenwood, Robin, and Samuel G. Hanson. "Issuer Quality and Corporate Bond Returns." Review of Financial Studies 26, no. 6 (June 2013): 1483–1525. (Internet Appendix Here.)

Greenwood, Robin, and Samuel G. Hanson. "Share Issuance and Factor Timing." Journal of Finance 67, no. 2 (April 2012): 761–798. (Internet Appendix Here.)

Greenwood, Robin, C. Fritz Foley, and Sergey Chernenko. "Agency Costs, Mispricing, and Ownership Structure."Financial Management 41, no. 4 (Winter, 2012): 885–914.

Greenwood, Robin, and David Thesmar. "Stock Price Fragility." Journal of Financial Economics 102, no. 3 (December 2011).

Greenwood, Robin, Samuel G. Hanson, and Jeremy C. Stein. "A Gap-Filling Theory of Corporate Debt Maturity Choice." Journal of Finance 65, no. 3 (June 2010): 993–1028. (Supplementary results in Internet Appendix.)

Greenwood, Robin, and Dimitri Vayanos. "Price Pressure in the Government Bond Market." American Economic Review: Papers and Proceedings 100, no. 2 (May 2010).

Foley, C. Fritz, and Robin Greenwood. "The Evolution of Corporate Ownership after IPO: The Impact of Investor Protection." Review of Financial Studies 23, no. 3 (March 2010). (Formerly NBER Working Paper No. 14557.)

Baker, Malcolm, Robin Greenwood, and Jeffrey Wurgler. "Catering Through Nominal Share Prices." Journal of Finance 64, no. 6 (December 2009): 2559–2590. (Internet Appendix.)

Greenwood, Robin, and Stefan Nagel. "Inexperienced Investors and Bubbles." Journal of Financial Economics 93, no. 2 (August 2009): 239–258. (formerly NBER Working Paper No. 14111, June 2008.)

Greenwood, Robin. "Trading Restrictions and Stock Prices." Review of Financial Studies 22, no. 3 (March 2009): 509–539.

Greenwood, Robin, and Michael Schor. "Investor Activism and Takeovers." Journal of Financial Economics 92 (2009): 362–375.

Greenwood, Robin. "Excess Comovement of Stock Returns: Evidence from Cross-sectional Variation in Nikkei 225 Weights." Review of Financial Studies 21, no. 2 (April 2008): 1153–1186.

Greenwood, Robin, and Nathan Sosner. "Trading Patterns and Excess Comovement of Stock Returns." Financial Analysts Journal 63, no. 5 (September–October 2007).

Greenwood, Robin. "Short- and Long-term Demand Curves for Stocks: Theory and Evidence on the Dynamics of Arbitrage." Journal of Financial Economics 75, no. 3 (March 2005): 607–649.

Baker, Malcolm, Robin Greenwood, and Jeffrey Wurgler. "The Maturity of Debt Issues and Predictable Variation in Bond Returns." Journal of Financial Economics 70, no. 2 (November 2003): 261–291.

 

Manager-oriented Publications

Greenwood, Robin, and David S. Scharfstein. "How to Make Finance Work." Harvard Business Review 90, no. 3 (March 2012).

Greenwood, Robin, and Michael Schor. "When (Not) to Listen to Activist Investors." Special Issue on HBS Centennial Harvard Business Review 86, no. 1 (January 2008).

 

Teaching Materials

The cases below are listed in reverse chronological order. Many of the cases concern “special situation”-type investments, such as risk arbitrage, corporate spinoffs, index redefinitions, closed end funds, macro-type mispricing, value investing, and investor activism. For information about these cases, please visit the HBS publishing website, or contact me.

 

Coval, Joshua, Robin Greenwood, and Peter Tufano. "Williams, 2002." Harvard Business School Case 203-068, December 2002. (Revised October 2013.)

Greenwood, Robin, Adi Sunderam, and Jared Dourdeville. "Assured Guaranty." Harvard Business School Teaching Note 213-131, June 2013.

Greenwood, Robin, Luis M. Viceira, and Jared Dourdeville. "Blackstone Alternative Asset Management." Harvard Business School Case 213-129, June 2013. (Revised July 2013.)

Greenwood, Robin, Julie Messina, and Jared Dourdeville. "H Partners and Six Flags ." Harvard Business School Teaching Note 213-122, May 2013. (Revised August 2013.)

Greenwood, Robin, Adi Sunderam, and Jared Dourdeville. "Assured Guaranty (CW)." Harvard Business School Spreadsheet Supplement 213-724, March 2013.

Greenwood, Robin, Adi Sunderam, and Jared Dourdeville. "Assured Guaranty." Harvard Business School Case 213-100, February 2013.

Greenwood, Robin, and Luis M. Viceira. "Martingale Asset Management LP in 2008, 130/30 Funds, and a Low-Volatility Strategy (TN)." Harvard Business School Teaching Note 211-079, January 2011. (Revised June 2012.)

Greenwood, Robin, Julie Messina, and Jared Dourdeville. "Hayman Capital Management." Harvard Business School Case 212-091, March 2012. (Revised October 2012.)

Greenwood, Robin, Julie Messina, and Jared Dourdeville. "Hayman Capital Management." Harvard Business School Spreadsheet Supplement 212-711, April 2012.

Greenwood, Robin, and James Quinn. "Citigroup's Exchange Offer." Harvard Business School Case 210-009, July 2009. (Revised May 2013.)

Greenwood, Robin, and James Quinn. "Citigroup's Exchange Offer (B)." Harvard Business School Supplement 210-004, September 2009. (Revised June 2011.)

Greenwood, Robin, and James Quinn. "Citigroup's Exchange Offer (C)." Harvard Business School Supplement 210-015, September 2009. (Revised June 2011.)

Greenwood, Robin. "Investor Demand." Harvard Business School Module Note 211-101, April 2011. (Revised April 2011.)

Greenwood, Robin, and Benjamin Steiner. "Gold in 2011: Bubble or Safe Haven Asset?" Harvard Business School Case 211-095, March 2011. (Revised April 2011.)

Greenwood, Robin. "The Nikkei 225 Reconstitution (TN)." Harvard Business School Teaching Note 207-110, March 2007. (Revised March 2011.)

Greenwood, Robin. "Livedoor

 (TN). " Harvard Business School Teaching Note 209-025, July 2008. (Revised March 2011.)

Greenwood, Robin, and Michael Gorzynski. "H Partners and Six Flags." Harvard Business School Case 211-090, March 2011. (Revised May 2013.)

Greenwood, Robin. "Gold in 2011 (CW)." Harvard Business School Spreadsheet Supplement 211-716, March 2011.

Greenwood, Robin. "H Partners and Six Flags (CW)." Harvard Business School Spreadsheet Supplement 211-715, March 2011.

Greenwood, Robin, and Michael Gorzynski. "H Partners and Six Flags (B)." Harvard Business School Supplement 211-096, March 2011.

Greenwood, Robin. "Williams, 2002 (CW)." Harvard Business School Spreadsheet Supplement 211-711, February 2011. (Revised October 2013.)

Greenwood, Robin. "Citigroup's Exchange Offer (TN)." Harvard Business School Teaching Note 211-087, February 2011.

Greenwood, Robin, and Luis M. Viceira. "MacroMarkets LLC." Harvard Business School Case 211-006, July 2010. (Revised January 2011.)

Foley, C. Fritz, Robin Greenwood, and James Quinn. "NEC Electronics." Harvard Business School Case 209-001, October 2008. (Revised November 2010.)

Foley, C. Fritz, and Robin Greenwood. "NEC Electronics (TN)." Harvard Business School Teaching Note 209-028, March 2009. (Revised November 2010.)

Greenwood, Robin, Daniel Jacob Goldberg, and James Quinn. "TravelCenters of America." Harvard Business School Case 209-030, December 2008. (Revised July 2010.)

Greenwood, Robin. "Tremblant Capital Group Exhibits (CW)." Harvard Business School Spreadsheet Supplement 210-710, May 2010.

Greenwood, Robin. "Tremblant Capital Group." Harvard Business School Case 210-071, April 2010. (Revised April 2010.)

Greenwood, Robin, and David S. Scharfstein. "Calculating Free Cash Flows." Harvard Business School Background Note 206-028, October 2005. (Revised February 2010.)

Bergstresser, Daniel Baird, Robin Greenwood, and James Quinn. "Washington Mutual's Covered Bonds Courseware." Harvard Business School Spreadsheet Supplement 209-724, March 2009. (Revised November 2009.)

Bergstresser, Daniel Baird, Robin Greenwood, and James Quinn. "Washington Mutual's Covered Bonds." Harvard Business School Case 209-093, March 2009. (Revised October 2009.)

Bergstresser, Daniel Baird, and Robin Greenwood. "Washington Mutual's Covered Bonds (TN)." Harvard Business School Teaching Note 209-130, March 2009. (Revised October 2009.)

Greenwood, Robin, and Daniel Jacob Goldberg. "TravelCenters of America (TN)." Harvard Business School Teaching Note 209-049, April 2009.

Greenwood, Robin, Rakesh Khurana, and Masako Egawa. "Aderans." Harvard Business School Case 209-090, March 2009.

Greenwood, Robin. "Opportunity Partners (TN)." Harvard Business School Teaching Note 208-139, March 2008. (Revised January 2009.)

Foley, C. Fritz, Robin Greenwood, and James Quinn. "NEC Electronics (CW)." Harvard Business School Spreadsheet Supplement 209-711, November 2008.

Greenwood, Robin, and James Quinn. "Travel Centers of America (CW)." Harvard Business School Spreadsheet Supplement 209-712, November 2008.

Greenwood, Robin, and James Quinn. "Kerr-McGee (CW)." Harvard Business School Spreadsheet Supplement 209-708, August 2008. (Revised August 2008.)

Greenwood, Robin. "The Pilgrim Assurance Building Courseware." Harvard Business School Spreadsheet Supplement 209-706, July 2008.

Greenwood, Robin. "The Pilgrim Assurance Building (TN)." Harvard Business School Teaching Note 209-011, July 2008.

Greenwood, Robin, and James Quinn. "Opportunity Partners." Harvard Business School Case 208-097, January 2008. (Revised July 2008.)

Greenwood, Robin, Arthur I Segel, and Joshua Katzin. "Yamanote Kaikan." Harvard Business School Case 205-084, June 2005. (Revised May 2008.)

Greenwood, Robin. "The Nikkei 225 Reconstitution." Harvard Business School Case 207-109, March 2007. (Revised March 2008.)

Greenwood, Robin. "The Nikkei 225 Reconstitution (CW)." Harvard Business School Spreadsheet Supplement 208-717, March 2008.

Greenwood, Robin. "Kerr-McGee (TN)." Harvard Business School Teaching Note 208-135, February 2008.

Greenwood, Robin, David S. Scharfstein, and Arthur I Segel. "The Pilgrim Assurance Building." Harvard Business School Case 206-078, December 2005. (Revised April 2007.)

Greenwood, Robin, and Andre F. Perold. "Kerr-McGee." Harvard Business School Case 207-020, November 2006. (Revised July 2013.)

Greenwood, Robin, and Michael Schor. "Livedoor." Harvard Business School Case 206-138, April 2006. (Revised November 2006.)

Greenwood, Robin, and Lucy White. "Introduction to Valuation Multiples." Harvard Business School Background Note 206-095, February 2006. (Revised October 2006.)

Greenwood, Robin, and Michael Schor. "Livedoor Courseware." Harvard Business School Spreadsheet Supplement 206-713, April 2006.

Greenwood, Robin, and Lucy White. "Decision Trees." Harvard Business School Background Note 205-060, December 2004. (Revised March 2006.)

Desai, Mihir A., Robin Greenwood, and Lucy White. "Subscriber Models." Harvard Business School Background Note 205-061, December 2004.

Greenwood, Robin. "Williams, 2002 (TN)." Harvard Business School Teaching Note 204-127, February 2004. (2003.)