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  • June 2023
  • Article

Why Is Dollar Debt Cheaper? Evidence from Peru

By: Bryan Gutiérrez, Victoria Ivashina and Juliana Salomao
In emerging markets, a significant share of corporate loans are denominated in dollars. Using novel data that enables us to see currency and the cost of credit, in addition to several other transaction-level characteristics, we re-examine the reasons behind dollar... View Details
Keywords: Emerging Market Corporate Debt; Currency Mismatch; Liability Dollarization; Carry Trade; Currency; Emerging Markets; Borrowing and Debt; Interest Rates; Peru
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  • February 1994 (Revised August 1994)
  • Background Note

Note on Contingent Environmental Liabilities

By: Richard H.K. Vietor and Forest L. Reinhardt
Addresses contingent environmental liabilities that are the result of unforeseen environmental risks where the dollar amount of such liabilities is unknown and depends on future events. In contrast, fines for violating environmental laws are liabilities, but are not... View Details
Keywords: Legal Liability; Risk Management; Natural Environment; Laws and Statutes; Pollutants; Governance Compliance; United States
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  • September 1996 (Revised July 1997)
  • Case

Grupo Sidek (A)

By: Kenneth A. Froot and Alberto Moel
A large Mexican conglomerate, active in tourism, real estate, and steel, is faced with difficult macroeconomic conditions beginning with the Peso crisis of December 1994. The conglomerate had extensive dollar-indexed liabilities and was caught in a crunch when the... View Details
Keywords: Foreign Exchange; Real Estate; Debt Policy; Tourism; Steel; Business Conglomerates; Macroeconomics; Currency Exchange Rate; Crisis Management; Valuation; Mexico
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  • 1 PM – 2 PM EDT, 17 Sep 2015
  • Webinars: Trending@HBS

Risk of Unfunded Public Pension Fund and Health Care Benefits in the US

Detroit is the canary in the coal mine on the issue of unfunded pension and health care liabilities. Had the city not declared bankruptcy, it was projected that 67% of every incremental revenue dollar would have been allocated to these legacy benefits by 2017. Yet even... View Details
  • 11 Jun 2018
  • Research & Ideas

Why South Korea's Samsung Built the Only Outdoor Skating Rink in Texas

dollars to tip the scales of justice in local court cases—and companies following such strategies earned much more than local appreciation for their efforts. What’s more, the strategy usually works to return favorable verdicts from... View Details
Keywords: by Michael Blanding; Legal Services
  • 28 Aug 2009
  • Working Paper Summaries

The Impact of Private Equity Ownership on Portfolio Firms’ Corporate Tax Planning

Keywords: by Brad Badertscher, Sharon P. Katz & Sonja Olhoft Rego; Financial Services
  • 19 Aug 2008
  • First Look

First Look: August 19, 2008

examined the relationships between inventory, gross profit dollars, and gross margin return on inventory. We find that inventory is positively correlated to gross profit dollars but negatively correlated to gross margin return on... View Details
Keywords: Sean Silverthorne
  • 30 Apr 2024
  • Book

When Managers Set Unrealistic Expectations, Employees Cut Ethical Corners

designed to boost responsibility, yet corporate misconduct has persisted—and in many ways worsened, often to the tune of billions of dollars in losses. Perhaps that’s because organizations are still failing to recognize that misconduct is... View Details
Keywords: by Dina Gerdeman
  • 16 May 2017
  • First Look

First Look at New Ideas and Research, May 16

no legal duty to protect or serve the companies whose shares they own; they are shielded by the doctrine of limited liability from legal responsibility for those companies’ debts and misdeeds; they may buy and sell shares without... View Details
Keywords: Re: Multiple Faculty
  • Web

Behavioral Finance & Financial Stability

specialization on both the asset and liability sides of intermediary balance sheets is important for understanding their role in capital markets. See Emil’s other research here , Adi’s other research here , and Jonathan’s other research... View Details
  • 01 Oct 2001
  • Research & Ideas

How To Make Restructuring Work for Your Company

promised—in writing—to fully fund. This liability had grown much faster than expected, to more than five times Navistar's net worth. Claiming imminent bankruptcy, the company proposed cutting retirees' benefits by over half. With billions... View Details
Keywords: by Stuart C. Gilson
  • 12 Aug 2020
  • Research & Ideas

Why Investors Often Lose When They Sue Their Financial Adviser

research about malfeasance among financial advisers and the impact on investors. The degree to which a panel favors the defending company accounts for 24 percent of the variation in arbitration awards to consumers. In dollar terms,... View Details
Keywords: by Danielle Kost; Financial Services
  • 15 Nov 2011
  • First Look

First Look: November 15

The company could also revisit the previous two applications, tracking and tracing processed meat and tracking employee safety practices. At the other extreme, after seven years of R&D and marketing efforts and millions of dollars in... View Details
Keywords: Sean Silverthorne
  • 17 Apr 2022
  • Book

How to Avoid the 'Ethical Slide' That Leads Companies Astray

question-and-answer format that’s accessible for everyone from C-suite executives to business students. It covers a wide range of topics, from the basics of ethical behavior and legal liabilities to the cultivation of best practices and... View Details
Keywords: by Lane Lambert
  • 17 Jan 2023
  • Book

Good Companies Commit Crimes, But Great Leaders Can Prevent Them

In a fraught ethics and legal climate, leaders need to know how to steer clear of trouble more than ever. Corporate Criminal Investigations and Prosecutions, released in September, offers a comprehensive resource on everything from the history of corporate criminal... View Details
Keywords: by Lane Lambert
  • Web

Advisory Board - Entrepreneurship

became executive vice president of sales and marketing. Todd identified and negotiated the naming rights for the Staples Center in Los Angeles, and won a gold "Clio" award for the best retail advertising in the U.S. Under his sales leadership, the multi-billion View Details
  • 21 Oct 2015
  • Research & Ideas

How to Predict if a New Business Idea is Any Good

nightly fee. Of course, now we know the idea as Airbnb, a $10 billion business with 1.5 million listings around the world. But back then it must have seemed crazy. The liability issues alone seemed insurmountable—to say nothing of the... View Details
Keywords: by Michael Blanding; Accommodations; Financial Services
  • Web

Research - Behavioral Finance & Financial Stability

intermediaries. They show that at least two types of segmentation drive arbitrage dynamics: funding and balance sheets. Their results suggest specialization on both the asset and liability sides of intermediary balance sheets is important... View Details
  • 06 May 2021
  • HBS Case

How Four Women Made Miami More Equitable for Startups

Latin American descent, among others.” Narratives: What’s the right story? Sometimes people from underrepresented groups carry with them liabilities stemming not only from their own identities but from where they come from, Kanter says.... View Details
Keywords: by Carolyn DiPaolo
  • 29 Aug 2023
  • News

Helping Consumers Decarbonize their Purchases

Subscribe on iTunes Subscribe on Spotify More Skydeck episodes Hi, this is Dan Morrell, host of Skydeck. In this episode, we’re going to be highlighting an episode of another HBS podcast: Climate Rising, which focuses on what businesses are doing, can do, and should do... View Details