Financial Liquidity - Publications - Faculty & Research

12 Oct 1999
Research & Ideas

Where Main Street Meets Wall Street

our capital markets—the envy of the world—are so liquid and effective," he says. "Mutual funds deepen the capital markets, and the capital markets lubricate our entire economy by allocating View Details

Keywords: by Garry Emmons; Financial Services

2004
Working Paper

Regulation and Reaction: The Other Side of Free Banking in Antebellum New York

By: David A. Moss and Sarah Brennan

Free banking, which first appeared in the United States in the late 1830s, comprised two essential features: general incorporation for banks and rigorous security requirements for note issue. Because the general incorporation feature is what allowed free entry, it has... View Details

Keywords: History; Law; Competition; Financial Liquidity; Money; Market Entry and Exit; Financing and Loans; Banks and Banking; Banking Industry

Citation

17 Aug 2023
Research & Ideas

‘Not a Bunch of Weirdos’: Why Mainstream Investors Buy Crypto

the growth of cryptocurrency, many consumers and businesses remain skeptical. The findings, the authors say, provide the first large-scale portrait of cryptocurrency investors, offering valuable insights for regulators, financial... View Details

Keywords: by Ben Rand

April 2017 (Revised February 2020)
Case

Restructuring Ukraine

By: Kristin Mugford, Seema Amble and Tian Feng

In June 2015, Ukraine found itself struggling with a volatile and devalued currency, dramatically diminished foreign reserves, and a projected financing shortfall of $40 billion. Ukraine’s new government sought to return the nation to stability following political... View Details

Keywords: Exchange Rates; Politics; Macroeconomics; Financial Crisis; Insolvency and Bankruptcy; Restructuring; Economy; Currency Exchange Rate; Banks and Banking; Economic Slowdown and Stagnation; Bonds; Sovereign Finance; Capital Markets; Credit; Debt Securities; Financial Liquidity; Financial Markets; Government and Politics; Ukraine

Citation

Educators

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28 Aug 2012
First Look

First Look: August 28

the paper: http://dx.plos.org/10.1371/journal.pone.0042673 Mandatory IFRS Adoption and Financial Statement Comparability Authors: Francois Brochet, Alan Jagolinzer, and Edward J. Riedl Publication: Contemporary Accounting Research... View Details

Keywords: Sean Silverthorne

28 May 2020
Research & Ideas

Coronavirus Could Create a 'Bankruptcy Pandemic'

does that mean for business owners who are seeking protection? Stuart Gilson: The global economic impact of the pandemic has already been catastrophic in terms of lost output, employment, and financial wealth. But many expect this to be... View Details

Keywords: by Dina Gerdeman; Financial Services; Financial Services

August 2014 (Revised March 2016)
Case

Thomas Cook Group on the Brink (A)

By: Benjamin C. Esty, Stuart C. Gilson and Aldo Sesia

Harriett Green, the newly appointed CEO of Thomas Cook Group, faces a daunting set of business and financial challenges at the 171-year old UK travel services company. The company has lost almost £600 million in the last three quarters; has seen its stock price fall... View Details

Keywords: Turnaround; Corporate Restructuring; Change Leadership; Female Ceo; Change Management; Communication Strategy; Borrowing and Debt; Cash Flow; Cost Management; Financial Liquidity; Financial Management; Executive Compensation; Leading Change; Crisis Management; Value Creation; Travel Industry; United Kingdom

Citation

Educators

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14 Mar 2023
In Practice

What Does the Failure of Silicon Valley Bank Say About the State of Finance?

The bank run that led to the stunning collapse of Silicon Valley Bank late last week continues to send shivers through the American financial system. SVB, the Santa Clara, California-based bank that catered to the tech industry, was the... View Details

Keywords: by Dina Gerdeman; Financial Services; Financial Services

November – December 2008
Article

Chief Risk Officers at Crunch Time: Compliance Champions or Business Partners?

By: Anette Mikes

Risk management departments in financial institutions have been undergoing major transformations. New regulatory requirements have raised the bar on compliance, and expanded the remit of risk management significantly. The compliance imperative requires banks to... View Details

Keywords: Banks and Banking; Corporate Governance; Governance Compliance; Governing Rules, Regulations, and Reforms; Managerial Roles; Risk Management; Partners and Partnerships

Citation

Find at Harvard

15 Jul 2008
First Look

First Look: July 15, 2008

Theory of Corporate Debt Maturity Choice Authors:Robin Greenwood, Jeremy C. Stein, and Samuel Hanson Abstract We argue that time-series variation in the maturity of aggregate corporate debt issues arises because firms behave as macro View Details

Keywords: Martha Lagace

21 Nov 2022
Research & Ideas

Buy Now, Pay Later: How Retail's Hot Feature Hurts Low-Income Shoppers

track some 20,000 specific retailers to identify merchants using BNPL, including the top US retailers. Penalizing lower-income consumers The loans create what the authors call the “flypaper effect.” Consumers with healthy access to View Details

Keywords: by Rachel Layne; Financial Services; Financial Services; Financial Services

February 2024 (Revised June 2024)
Case

Can Families Conquer Private Equity? Pritzker Private Capital

By: Lauren Cohen and Sophia Pan

Anthony (Tony) Pritkzer, Paul Carbone, and the Pritzker Private Capital (PPC) team wondered how to approach the firm’s next phase of growth. PPC was a private equity firm that offered a differentiated approach to the family capital market. Back in 2016, the partners... View Details

Citation

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09 Dec 2002
Research & Ideas

Unilever—A Case Study

lower financial returns than their domestic equivalents in the United States. 9 One explanation for this phenomenon might be transfer pricing, but this has proved hard to verify empirically. The industry mix is another possibility, but... View Details

Keywords: by Geoffrey Jones; Consumer Products; Entertainment & Recreation; Food & Beverage; Manufacturing; Retail

02 Aug 2016
First Look

August 2, 2016

same behaviors described as “random behaviors.” Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=51401 Financial Regulation in a Quantitative Model of the Modern Banking System By: Begenau, Juliane, and Tim Landvoigt... View Details

Keywords: Sean Silverthorne

15 Nov 2011
First Look

First Look: November 15

case:http://cb.hbsp.harvard.edu/cb/product/112032-PDF-ENG "Longtop Financial Technologies (A) David F. Hawkins, Annelena Lobb, and Aldo SesiaHarvard Business School Case 112-036 An abstract is unavailable at this time. Purchase this... View Details

Keywords: Sean Silverthorne

07 Mar 2011
Research & Ideas

Why Companies Fail—and How Their Founders Can Bounce Back

a potential for improvement. The statistics are disheartening no matter how an entrepreneur defines failure. If failure means liquidating all assets, with investors losing most or all the money they put into the company, then the failure... View Details

Keywords: by Carmen Nobel

22 Aug 2006
First Look

First Look: August 22, 2006

large, corporate acquirers. At the same time, their approach addresses venture capital's reliance on public markets for liquidity events—which all but evaporated with the dot-com collapse of March 2000. Hetz and Osgood face challenging... View Details

Keywords: Martha Lagace

26 Feb 2008
First Look

First Look: February 26, 2008

similar behavior following periods of poor financial performance. In addition to offering promotions more frequently, we find that firms offer deeper price discounts to manage earnings during these periods. Furthermore, our results... View Details

Keywords: Martha Lagace

25 Oct 2020
Research & Ideas

The Dark Side of Fintech Borrowing

that fintechs attract a different type of loan-seeker—one with a higher propensity to overspend—which is not something easily captured in their credit reports. The rise of fintechs Fintech lending’s popularity exploded in the years following the View Details

Keywords: by Rachel Layne; Financial Services; Financial Services

June 2010 (Revised August 2021)
Case

Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V. (VHSS): Valuing Ships

By: Benjamin C. Esty and Albert Sheen

After booming for more than five years, the global shipping (maritime) industry experienced a dramatic crash in late 2008 as the global financial system froze and the global economy slid into recession. Ship charter rates (revenue) fell by as much as 90% causing prices... View Details