finance - Publications - Faculty & Research

14 Aug 2014
News

Is The Boom In Small Business Finance Real?

May 2007
Article

Corporate Financing Decisions When Investors Take the Path of Least Resistance

By: Malcolm Baker, Joshua Coval and Jeremy Stein

We explore the consequences for corporate financial policy that arise when investors exhibit inertial behavior. One implication of investor inertia is that, all else equal, a firm pursuing a strategy of equity-financed growth will prefer a stock-for-stock merger to... View Details

Keywords: Behavior; Investment; Policy; Corporate Finance

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2005
Other Unpublished Work

Corporate Financing Decisions When Investors Take the Path of Least Resistance

By: Malcolm Baker, Joshua Coval and Jeremy Stein

We explore the consequences for corporate financial policy that arise when investors exhibit inertial behavior. One implication of investor inertia is that, all else equal, a firm pursuing a strategy of equity-financed growth will prefer a stock-for-stock merger to... View Details

Keywords: Decisions; Behavior; Stocks; Mergers and Acquisitions; Policy; Investment; Financial Institutions; Equity; Corporate Finance

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15 Jul 2011
Working Paper Summaries

Poultry in Motion: A Study of International Trade Finance Practices

Keywords: by Pol Antras & C. Fritz Foley; Agriculture & Agribusiness

April 2006
Case

Promise (B): Navigating an Entrepreneurial Consumer Finance Company in Japan's Financial Establishment

Supplements the Promise: Building a Consumer Finance Company in Japan case. View Details

Keywords: Entrepreneurship; Financing and Loans; Financial Services Industry; Japan

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2006
Working Paper

Democratizing Entry: Banking Deregulations, Financing Constraints, and Entrepreneurship

By: William R. Kerr and Ramana Nanda

We examine entrepreneurship and creative destruction following US banking deregulations using Census Bureau data. US banking reforms brought about exceptional growth in both entrepreneurship and business closures. The vast majority of closures, however, were the new... View Details

Keywords: Business Exit or Shutdown; Market Entry and Exit; Capital Markets; Entrepreneurship; Outcome or Result; Business Startups; Banks and Banking; Banking Industry; United States

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2013
Working Paper

FIN Around the World: The Contribution of Financing Activity to Profitability

By: Russell Lundholm, George Serafeim and Gwen Yu

We study how the availability of domestic credit influences the contribution that financing activities make to a firm's return on equity (ROE). Using a sample of 51,866 firms from 69 countries, we find that financing activities contribute more to a firm's ROE in... View Details

Keywords: Domestic Credit; Return Of Equity; Corporate Performance; Financial Statement Analysis; Financial Statements; Valuation; Cost of Capital; Asset Pricing; Economic Growth

Citation

SSRN

06 Sep 2012
Working Paper Summaries

FIN Around the World: The Contribution of Financing Activity to Profitability

Keywords: by Russell Lundholm, George Serafeim & Gwen Yu

February 2016
Article

The Dialogue That Rarely Happens: Sales - Finance

By: Frank V. Cespedes

Citation

January 2013 (Revised June 2014)
Background Note

Key Challenges of Applying IFRS to Islamic Finance

By: David F. Hawkins and Lee Hodder

Citation

Educators

2009
Simulation

Finance Simulation: M&A in Wine Country (Facilitator's Guide)

By: Timothy A. Luehrman, W. Carl Kester and Heide Diener Abelli

Keywords: Mergers and Acquisitions; Negotiation; Valuation; Value Creation; Food and Beverage Industry; Agriculture and Agribusiness Industry

Citation

Today’s mega-cities have a footprint problem. They are developing horizontally, not vertically, with vast areas of low sprawl reaching out for miles from Sao... View Details

March 2015 (Revised October 2015)
Module Note

Experimentation and Real Options in Entrepreneurial Finance

By: Ramana Nanda

Citation

Purchase

October 2014
Case

KGFS: A New Approach to Rural Finance

By: Rajiv Lal

Citation

Educators

Purchase

March 1990 (Revised March 1990)
Supplement

Chase Manhattan Bank (J): European Corporate Finance

By: Benson P. Shapiro

Keywords: Banking Industry

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Video

Finance and Accounting Courses | HBS Online

12 Jul 2017
Book

What Jane Austen and Mel Brooks Can Teach Us About Finance

Keywords: by Carmen Nobel

July 2012 (Revised February 2013)
Case

Société Internationale de Plantations et de Finance (SIPEF)

By: David Hawkins

Management of a company with extensive palm oil tree plantations questions the usefulness to management and investors of IAS41's requirement to value palm oil trees at their fair value. View Details