Local Government Finance - Publications - Faculty & Research

2013
Article

Learning and the Disappearing Association Between Governance and Returns

By: Lucian A. Bebchuk, Alma Cohen and Charles C.Y. Wang

The correlation between governance indices and abnormal returns documented for 1990–1999 subsequently disappeared. The correlation and its disappearance are both due to market participants' gradually learning to appreciate the difference between good-governance and... View Details

Keywords: Corporate Governance; Investment Return; Operations; Performance; Value; Learning; Business Earnings; Behavioral Finance

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People - Behavioral Finance & Financial Stability

People People Faculty Malcolm P. Baker Robert G. Kirby Professor of Business Administration Malcolm Baker is the Robert G. Kirby Professor of Business Administration at the Harvard Business School. He was the Unit Head for finance from... View Details

Article

Home Bias at Home: Local Equity Preference in Domestic Portfolios

By: Joshua D. Coval and Tobias J. Moskowitz

Keywords: Prejudice and Bias; Local Range; Investment

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03 Apr 2006
Research & Ideas

The Competitive Advantage of Global Finance

reality of global firms, most finance scholarship and pedagogic material conceives of firms as being entirely locally focused and ignores the many questions prompted by global operations. International... View Details

Keywords: by Sean Silverthorne; Financial Services

July 2021
Article

Multinationality and Capital Structure Dynamics: A Corporate Governance Explanation

By: Daniel Gyimah, Nana Abena Kwansa, Anthony K. Kyiu and Anywhere Sikochi

This paper examines the impact of corporate governance on capital structure dynamics. Using ordinary least squares regressions on 17,496 firm-year observations for 2,294 U.S. multinational companies (MNCs) over the period 1990–2018, we find that MNCs with strong... View Details

Keywords: Multinationality; Speed Of Adjustment; Corporate Governance; Multinational Firms and Management; Capital Structure

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1990
Chapter

Resolving Local Regulatory Disputes and Building Consensus for Affordable Housing

By: M. A. Wheeler

Keywords: Housing; Government and Politics; Governing Rules, Regulations, and Reforms; Local Range; Conflict and Resolution; Negotiation; Construction Industry

Citation

15 Mar 2021
Working Paper Summaries

Fairness or Control: What Determines Elected Local Leaders’ Support for Hosting Refugees in Their Community?

Keywords: by Kristin Fabbe, Eleni Kyrkopoulou, Konstantinos Matakos, and Asli Unan

24 May 2012
News

HBS Alum Joins University Governing Board

Keywords: Finance; Finance; Finance; Finance; Finance; Finance

1994
Other Unpublished Work

The Value Choices in State and Local Spending: A Workbook

By: Dutch Leonard and Monica Friar

Keywords: Spending; Local Range; Cost vs Benefits

Citation

December 2012
Background Note

Municipal Bond Structuring

A note on municipal bond structuring. View Details

Keywords: Local Government; Political Process; Debt Management; Financial Planning; Financial Management; Bonds; Urban Development; Local Range; Government Administration

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Research - Behavioral Finance & Financial Stability

Finance and Financial Stability Initiative evaluate the demand for long term government bonds from Pension and Insurance companies. Regulatory changes are used to provide collaborating evidence that the... View Details

2021
Case

Starbucks: Opposing a Local Tax to Address Homelessness while Promoting Social Justice

By: Andrew J. Hoffman

In 2018, the Seattle City Council unanimously voted 9-0 for a tax that would require companies whose annual revenue surpassed $20 million to pay the city $275 per employee per year. The tax money would then be used to combat homelessness in Seattle. In response,... View Details

Keywords: Taxation; City; Welfare; Wealth and Poverty; Corporate Social Responsibility and Impact; Seattle

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Finance Awards & Honors - Faculty & Research

Prize for Distinguished Paper in Corporate Finance for “A Comparative-Advantage Approach to Government Debt Maturity” with Samuel G. Hanson and Jeremy C. Stein ( Journal of View Details

August 2005
Teaching Note

Tax-Motivated Film Financing at Rexford Studios (TN)

By: Mihir A. Desai, Gabriel L. Loeb, Mark Veblen and Kathleen Luchs

Keywords: Taxation; Finance; Motion Pictures and Video Industry

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14 Nov 2017
News

Can We Trust Our Government To Save The Planet?

August 2015
Article

Poultry in Motion: A Study of International Trade Finance Practices

By: Pol Antràs and C. Fritz Foley

This paper analyzes the financing terms that support international trade and sheds light on how these terms shape the impact of economic shocks on trade. Analysis of transaction-level data from a U.S.-based exporter of frozen and refrigerated food products, primarily... View Details

Keywords: Risk and Uncertainty; International Finance; Financing and Loans; Trade

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02 Dec 2014
Working Paper Summaries

International Trade, Multinational Activity, and Corporate Finance

Keywords: by C. Fritz Foley & Kalina Manova

28 Feb 2007
Research & Ideas

Capital Rules: The Tensions of Global Finance

cross-border finance and in patterns we have seen before. In his new book Capital Rules: The Construction of Global Finance, Abdelal documents the waxing and waning of international capital controls in the twentieth and twenty-first... View Details

Keywords: by Rawi Abdelal