Publications

2005
Chapter

Bank Financing in India

By: Shawn A. Cole, A. Banerjee and E. Duflo

Keywords: Banks and Banking; Financing and Loans; Banking Industry; India

March 2012
Article

How to Make Finance Work

By: Robin Greenwood and David S. Scharfstein

Once a sleepy old boys' club, the U.S. financial sector is now a dynamic and growing business that attracts the best and the brightest. It is tempting to declare the industry a roaring success. But its purpose is to serve the needs of U.S. households and firms, and by... View Details

Keywords: Business Ventures; Value; Competitive Advantage; Investment; Performance Evaluation; Household; Financial Crisis; Finance; Financial Services Industry; United States

2020
Chapter

Financing 'Tough Tech' Innovation

By: Ramana Nanda

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2025
Working Paper

Bank Financing of Global Supply Chains

By: Laura Alfaro, Mariya Brussevich, Camelia Minoiu and Andrea Presbitero

Finding new international suppliers is costly, so most importers source inputs from a single country. We examine the role of banks in mitigating trade search costs during the 2018–2019 U.S.-China trade tensions. We match data on shipments to U.S. ports with the U.S.... View Details

Keywords: Financial Institutions; International Finance; Trade; Credit; United States; Asia

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April 2000
Case

Financing of Project Achieve, The (A)

By: Mihir A. Desai

An entrepreneur is forced to analyze the tradeoffs between different equity providers through a detailed analysis of venture financing terms and cash flow forecasts. The founder of a Web-based IMS for schools must negotiate a term sheet, determine funding needs, value... View Details

Keywords: Business Startups; Forecasting and Prediction; Venture Capital; Cash Flow; Equity; Negotiation Deal; Valuation

Educators

February 2025
Case

Blue Owl Financing of Ping Identity

By: Victoria Ivashina and Srimayi Mylavarapu

In the fall of 2022, Blue Owl Capital's investment committee evaluated a potential investment in the technology sector. The proposed transaction centered on Ping Identity Corporation (“Ping”), a fast-growing identity access management (IAM) software company that was... View Details

Keywords: Mergers and Acquisitions; Borrowing and Debt; Cash Flow; Investment; Privatization; Financial Services Industry; Technology Industry

Educators

Over the last decade, the green shoots of a new economic order have emerged as decentralized technologies challenge traditional financial systems. Decentralized finance (DeFi) holds the potential to transform international business (IB) by offering accessible... View Details

Spring 2013
Article

The Growth of Finance

By: Robin Greenwood and David S. Scharfstein

The U.S. financial services industry grew from 4.9% of GDP in 1980 to 7.9% of GDP in 2007. A sizeable portion of the growth can be explained by rising asset management fees, which in turn were driven by increases in the valuation of tradable assets, particularly... View Details

Keywords: Finance; Asset Management; Research; Mortgages; Financial Services Industry

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2024
Working Paper

Finance Without Exotic Risk

By: Pedro Bordalo, Nicola Gennaioli, Rafael La Porta and Andrei Shleifer

We address the joint hypothesis problem in cross-sectional asset pricing by using measured analyst expectations of earnings growth. We construct a firm-level measure of Expectations Based Returns (EBRs) that uses analyst forecast errors and revisions and shuts down any... View Details

Keywords: Investment Return; Financial Markets; Behavioral Finance; Risk and Uncertainty

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1992
Book

Case Problems in Finance

By: W. E. Fruhan Jr., W. C. Kester, S. P. Mason, T. R. Piper and R. S. Ruback

Keywords: Finance

February 2017 (Revised January 2019)
Module Note

The Entrepreneurial Manager, Module 2 Part 1: Resourcing the Business Model – Financing

By: Paul Gompers

Keywords: Entrepreneurship; Financing; Venture Capital; Debt Lending

Web

Finance Club | MBA

Finance Club All recognized student clubs are part of a 501(c)(3) non-profit tax exempt organization, called Student Clubs of HBS, Inc. Each student club at Harvard Business School (HBS) is open to all matriculated HBS students and their... View Details

11 May 2012
HBS Conference

Finance Theory Group Conference

2004
Casebook

Case Problems in Finance

By: W. Carl Kester, Richard Ruback and Peter Tufano

Keywords: Problems and Challenges; Finance

November 2002 (Revised October 2003)
Case

Circles: Series D Financing

By: Paul W. Marshall and Kristin Lieb

Circles, a corporate concierge company on the verge of profitability, must make a decision whether to take a D-round venture capital despite ever-changing and ever-worsening terms. A four-year-old company with several major clients, it has met its business plan... View Details

Keywords: Cost vs Benefits; Financing and Loans; Management Teams; Growth and Development Strategy; Negotiation Process; Venture Capital; Governing and Advisory Boards; Entrepreneurship; Service Industry; Consulting Industry; Massachusetts

Educators