Case Studies

A USD400mn Lesson in Risk Management of Structured Equity Derivatives

Asia Case Research Centre, (2023).

Abstract:
This case reviews the market risks resulting from issuing and managing autocallable equity-linked instruments by a bank in the Asian markets. A number of weaknesses in the risk management framework of the issuing organization ultimately led to significant losses that could have been avoided. The purpose of the case is to identify these potential weaknesses and suggest what could have been done to improve the risk management framework of the organization. The case illustrates the two possible generic explanations for the losses at the issuer. On the one hand, some people involved first blamed the deficiency of the risk model and the quantitative framework; others put more blame on the structural shortcomings in the risk management framework.

HKTV (Mall): Mission Impossible—The Agile Giant

Academy of Asian Business Review, 6(2) (2020): 81–114. (With Chau Yin Chan, Wai Yiu Ryan Ho, and Chun Lai Ma)

Top 10 Winner in World Asian Case Competition 2020
Best Advisor Award

Abstract:
Hong Kong Television Limited (HKTV) is an emerging heavyweight in the Hong Kong retailing and e-Commerce market, earning the reputation as a successful e-Commerce platform locally. The story of HKTV is a demonstration of attaining business performance while shifting industry and service as a result of excellent management and corporate strategy, making it an ideal subject to investigate. This study aims to track its story-like adventure from its start of providing telecommunications service to television broadcasting services, before the dramatic change of stepping into the unfamiliar e-Commerce market segment. The report provides an insight on the historical development of HKTV, highlighting its major turning points. The story of HKTV is a lesson of perseverance, devotion and change. Effective corporate strategy, creative corporate communication and marketing strategies, and most importantly, passion and vision are the pivotal factors that lead to the recognized success of HKTV. These earmarks enabled HKTV to carve its niche in the market, sustaining its 'giant' position in the ever-changing era and industry characteristics. While currently not having the most global exposure, the case of HKTV on its development and repositioning is one of the most remarkable and referential companies, and firms can get a lot out of HKTV by learning the way of how to embrace a variety of challenges ahead in the contemporary ever-changing markets.

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