Publications

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About - Behavioral Finance & Financial Stability

About About The global financial crisis brought to the forefront of academic and policy discussion the question of how best to ensure the stability of the financial system.... View Details

24 Mar 2020
Research & Ideas

These Coronavirus Heroes Show Us How Crisis Leadership Works

We are in the greatest crisis of our lifetimes—even worse than 9/11 and the 2008-09 financial meltdown that triggered the Great Recession. This crisis is directly affecting... View Details

Keywords: by Bill George; Health

May 2012 (Revised July 2012)
Case

Credit Unions: The Future of the Cooperative Financial Institution

By: Robert C. Pozen and Grace Hou

Credit unions are a specialized type of depository institution with a cooperative, non-profit structure and a federal tax exemption. They originated as small, cooperative institutions with an emphasis on uncollateralized consumer lending to the unbanked... View Details

Keywords: Banking; Credit Unions; Banks and Banking

January 2025
Supplement

Hippo: Weathering the Storm of the Home Insurance Crisis (B)

By: Lauren Cohen, Grace Headinger and Sophia Pan

Rick McCathron, CEO of Hippo, was optimistic about the InsurTech's path to profitability after navigating the financial uncertainties of 2022. By bundling their home insurance services with third-parties and established insurance incumbents, Hippo was adopting a... View Details

July 2012 (Revised May 2024)
Supplement

Lyric Dinner Theater (B)

By: Richard G. Hamermesh and Jim Sharpe

Supplements the (A) Case. Deborah Denenberg reflects on the results and actions taken during the 12 months following her first 6 months on the job. View Details

Keywords: Entrepreneurs; Entrepreneurial Management; Crisis; Turn; Family Business; Financial Crisis; Boards Of Directors; Operations Management; Strategy Implementation; Career Planning; Entrepreneurship; Entertainment and Recreation Industry; United States

March 2011 (Revised June 2016)
Case

Hungary: Economic Crisis and a Shift to the Right

By: Rafael M. Di Tella, Matthew C. Weinzierl and Jacob Kuipers

Instructors may also obtain a Teaching Note, written by this case's author, that provides suggestions for using this case effectively in the classroom. View Details

Keywords: Economics; Financial Crisis; Hungary

June 2010
Case

Cypress Sharpridge: Raising Capital in a Time of Crisis

By: Lena G. Goldberg and Adam Benjamin Nebesar

Cypress Sharpridge, a REIT investing in agency securities, launched its IPO just before the collapse of the subprime mortgage market. The IPO failed. In June 2009, an IPO window seemed to be opening. Should the company try again? CEO Kevin Grant knew that his company's... View Details

Keywords: Financial Crisis; Capital; Financial Strategy; Initial Public Offering; Investment; Leadership; Crisis Management; Financial Services Industry; Financial Services Industry

Web

People - Behavioral Finance & Financial Stability

Economic at Harvard University, and one of the the founders of Behavioral Finance. He has published seven books, including A Crisis of Beliefs: Investor Psychology and Financial Fragility (with Nicola... View Details

July 2012 (Revised April 2013)
Case

Peter Jepsen

By: Howard H. Stevenson, Michael J. Roberts and James M. Sharpe

About to break bank covenants, Peter Jepsen has to deal with a contentious prior owner, improve profitability and staff appropriately all while maintaining credibility with his investors, in the furniture hardware company he has owned for less than a year. View Details

Web

Research - Behavioral Finance & Financial Stability

around the world, the authors show that the combination of rapid credit and asset price growth over the prior three years is associated with a 40% probability of entering a financial crisis within the next... View Details

October 2018 (Revised January 2019)
Case

The Financial Crisis: Timothy Geithner and the Stress Tests

By: Samuel G. Hanson, Robin Greenwood, David Scharfstein and Adi Sunderam

In February and March 2009, the U.S. economy was in the midst of a terrifying financial and economic crisis. Between the beginning of 2008 and early 2009, four of the 25 largest U.S. financial institutions had failed, and nine of these 25 institutions had taken... View Details

Keywords: Bailout; Regulation; Stress Test; Financial Crisis; History; Economy; Policy; Governing Rules, Regulations, and Reforms; Decision Making; Financial Services Industry; Financial Services Industry; Financial Services Industry; United States

2009
Working Paper

An Ounce of Prevention: The Power of Public Risk Management in Stabilizing the Financial System

By: David A. Moss

The magnitude of the current financial crisis reflects the failure of an economic and regulatory philosophy that had proved increasingly influential in policy circles over the past three decades.

This paper suggests (1) that contrary to the prevailing wisdom,... View Details

Keywords: Financial Crisis; Financial Institutions; Governing Rules, Regulations, and Reforms; Risk Management; Business and Government Relations; Balance and Stability

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2022
Chapter

Of Learning and Forgetting: Centrism, Populism, and the Legitimacy Crisis of Globalization

By: Rawi Abdelal

Every order is a bargain with disappointments and trade-offs. Thus is every order an unstable equilibrium. The first era of globalization, circa 1870–1914, created both international prosperity and domestic instability. That instability was fully realized during the... View Details

Keywords: Globalization; Policy; Economic Systems; Balance and Stability; Europe; European Union; United States

Find at Harvard

March 2001
Case

Sime Darby Berhad (B): The Asian Crisis Begins

By: Tarun Khanna and Danielle Melito Wu

Supplements the (A) case. View Details

Keywords: Acquisition; Business Conglomerates; Economy; Capital Markets; Emerging Markets; Business and Government Relations; Corporate Strategy; Value Creation; Financial Services Industry; Malaysia

1 Aug 2010
Conference Presentation

Explaining the Financial Meltdown - Discussion

By: Carliss Y. Baldwin

Keywords: Finance; Financial Crisis

07 Nov 2018
News

A Market-Based Approach to Solving the World’s Water Crisis

Water.org, we are singularly focused on solving the global water crisis in our lifetime. There are about 844 million people every day who lack safe water and about 2.3 billion who lack access to adequate sanitation. The health and... View Details

Keywords: water; Funds, Trusts, and Other Financial Vehicles; Funds, Trusts, and Other Financial Vehicles

2010
Working Paper

Surviving the Global Financial Crisis: Foreign Direct Investment and Establishment Performance

By: Laura Alfaro and Maggie Chen

We examine in this paper the differential response of establishments to the global financial crisis, with particular emphasis on the role of foreign direct investment (FDI) in determining micro economic performance. Using a new worldwide dataset that reports the... View Details

Keywords: Financial Crisis; International Finance; Foreign Direct Investment; Local Range; Multinational Firms and Management; Production; Performance Evaluation; Networks

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Forthcoming
Article

The Evolution of Financial Services in the United States

By: Robin Greenwood, Robert Ialenti and David Scharfstein

This article surveys the literature on the historical growth and transformation of the U.S. financial sector. The sector expanded rapidly between 1980 until 2006, when its contribution to GDP rose from 4.8% to 7.6%. After the Global Financial Crisis, the size of the... View Details

Keywords: Financial Crisis; Financial Institutions; Financial Markets; Growth and Development; Economic Sectors