Debt Securities - Publications - Faculty & Research

01 Sep 2015
News

Research Brief: Bankruptcy as a Better—Not Bitter—End

Are big banks using bankruptcy as a bullying tactic? A recent report by the American Bankruptcy Institute suggested that a longtime—and increasingly popular—mechanism in the US code that allows for expedited, less-democratic asset sales (known as Section 363 sales) is... View Details

Keywords: Erin Peterson

March 2018 (Revised January 2019)
Case

The TARP Bailouts: Saving the Banking and Automotive Industries

By: Kristin Mugford

Comparison of the U.S. Government response, using the $700 billion TARP fund, to downturns in the banking and auto industries during the global financial crisis. View Details

Keywords: Bailout; Financial Crisis; Borrowing and Debt; Banks and Banking; Government and Politics; Debt Securities; Government Legislation; Public Opinion; Auto Industry; Banking Industry; United States

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Fast Answer

Bloomberg: Investment Management course tips

How can I locate futures information in Bloomberg? How can I compare futures in Bloomberg? Government Debt Information How can I get data on government bonds, bills, and notes in Bloomberg? How can I generate yield curves in Bloomberg?... View Details

April 2022
Supplement

PG&E and the First Climate Change Bankruptcy

By: Stuart C. Gilson

Keywords: Chapter 11; Utilities; Liabilities; Restructuring; Insolvency and Bankruptcy; Debt Securities; Legal Liability; Climate Change; Utilities Industry; United States

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Creating Value Through Corporate Restructuring - Course Catalog

debt financing, including the rights of secured creditors, subordination agreements, and debt covenants. By understanding how to fix a “sick” capital structure, students will... View Details

18 Oct 2004
Research & Ideas

The Bias of Wall Street Analysts

changes in net financing. The prediction was that all analysts would be more optimistic for firms that were issuing debt and equity securities than for firms that were either not engaging in such activity or... View Details

Keywords: by Ann Cullen; Financial Services

January 1994
Exercise

Walt Disney Company's Sleeping Beauty Bonds

By: Carliss Y. Baldwin

Walt Disney Co. issues a 100-year bond. This case describes the terms of the bond and immediate capital market reaction. View Details

Keywords: Capital Markets; Cash Flow; Debt Securities; Bonds; Interest Rates; Value

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December 2004
Teaching Note

Yield Curves and Bond Ratings Tutorial (TN)

By: William E. Fruhan Jr.

Teaching Note to (9-204-712). View Details

Keywords: Internet and the Web; Education; Debt Securities; Service Operations; Measurement and Metrics; Performance Evaluation; Education Industry

Citation

July 2006
Case

Citigroup: Euro Zone Bond Trading (A)

By: Lynn S. Paine, Christopher Bruner and Aldo Sesia

Describes the development and execution of a bond trading strategy by a London-based team of Citigroup eurozone bond traders. The trades, which involved two of Europe's leading electronic trading platforms, gave rise to a European-wide controversy over the traders'... View Details

Keywords: Debt Securities; Financial Markets; Bonds; Ethics; Values and Beliefs; Decision Making; Lawfulness; Business Strategy; Banking Industry; Financial Services Industry; Europe

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Educators

01 Oct 1998
News

Going Against the Flow

all into our computers, in advance of the government. It gave us great insights - like having our own private polls - on what inflation would be doing. We then bought and sold equity and debt securities... View Details

Keywords: Dun Gifford, Jr.

02 Jul 2015
Op-Ed

The Future of the Greek Economy

debt and served as Minister of National Planning and Economic Policy in her native Costa Rica from 2010 to 2012. Europe Needs More Europe The game of brinkmanship that the latest Greek government has played with the Eurozone is at its... View Details

Keywords: by Laura Alfaro, Dante Roscini & George Serafeim; Banking

October 2012
Article

Securitization without Adverse Selection: The Case of CLOs

By: Effi Benmelech, Jennifer Dlugosz and Victoria Ivashina

In this paper, we investigate whether securitization was associated with risky lending in the corporate loan market by examining the performance of individual loans held by CLOs. We employ two different datasets that identify loan holdings for a large set of CLOs and... View Details

Keywords: Personal Finance; Performance; Markets; Banks and Banking; Debt Securities; Investment Portfolio; Financing and Loans

12 Apr 2017
Blog Post

2+2er Pursues HBS/HKS Joint Degree

six-figure debt burden left me feeling uneasy. Shortly thereafter, I learned that HBS has an incredibly generous and equitable financial aid program. They operate under the assumption that all the students they admit are equally... View Details

Fast Answer

Fixed Income Research: bond data, ratings, and reports

financial information on fixed-income securities, for both international and domestic markets, including credit ratings. Use the CORP or GOVT shortcut key for corporate or government securities research. There are two... View Details

01 Dec 2001
News

September 11: A Community Reflects

Patrick Doyle (HBS '03), a former rector and adjunct professor of business ethics at Notre Dame. With heightened campus security in place, MBA and Executive Education classes resumed on September 12, but in the days that followed, the... View Details

Keywords: Susan Young;Deborah Blagg

06 Nov 2012
First Look

First Look: November 6

governance; market participants and security analysts were, until the beginning of the 2000s but not subsequently, more positively surprised by the earning announcements of good-governance firms; and, although governance indices no longer... View Details

Keywords: Sean Silverthorne

14 Jun 2016
First Look

June 14, 2016

https://www.hbs.edu/faculty/Pages/item.aspx?num=50814 Fiscal Rules and Sovereign Default By: Alfaro, Laura, and Fabio Kanczuk Abstract—We provide a quantitative analysis of fiscal rules in a standard model of sovereign debt accumulation... View Details

Keywords: Sean Silverthorne

March 2006
Case

Wells Fargo Convertible Bonds

By: Malcolm P. Baker and Elizabeth Kind

Howard Atkins, the chief financial officer of Wells Fargo, is considering issuing $3 billion in convertible debt. With an investment-grade credit rating, Wells Fargo is not the typical issuer of convertible securities, but the market conditions in 2003 are unusual.... View Details

Keywords: Capital Structure; Financial Institutions; Banks and Banking; Debt Securities; Financial Management; Financial Strategy; Strategy; Banking Industry

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31 Aug 2009
Research & Ideas

Why Competition May Not Improve Credit Rating Agencies

In the run-up to the global financial crisis, credit rating agencies gave high marks to such risky financial vehicles as collateralized debt obligations, which few people understood. It has been argued that these ratings misled investors... View Details

Keywords: by Martha Lagace; Financial Services