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Show Results For
- All HBS Web
(4,379)
- People (13)
- News (1,153)
- Research (2,492)
- Events (22)
- Multimedia (44)
- Faculty Publications (1,842)
- 11 May 2016
- Research & Ideas
Fix This! Why is it so Painful to Buy a New Car?
call after the dealer initially turned him down. Then he had to wait hours while his new car was prepped, bank check accepted, documents signed, registration obtained and the other thousand details that make buying a car feel like a... View Details
- 03 Dec 2020
- Research & Ideas
Cut Payroll Costs with Transparency, Fairness, and Compassion
Conduct, your jobs are secure. This decision was made with 100 percent support of the Firm’s Operating Committee. At the end of this year, we will know what we are dealing with, and hopefully, the economy will be on the mend by then.” Brian Moynihan of View Details
Keywords: by Boris Groysberg and Sarah Abbott
- September 2011
- Article
Political Instability: Effects on Financial Development, Roots in the Severity of Economic Inequality
By: Mark J. Roe and Jordan I. Siegel
We here bring forward strong evidence that political instability impedes financial development, with its variation a primary determinant of differences in financial development around the world. As such, it needs to be added to the short list of major determinants of... View Details
Keywords: Financial Development; Political Instability; Government and Politics; Finance; Growth and Development; Economics; Equality and Inequality
Roe, Mark J., and Jordan I. Siegel. "Political Instability: Effects on Financial Development, Roots in the Severity of Economic Inequality." Journal of Comparative Economics 39, no. 3 (September 2011): 279–309. (We here bring forward strong evidence that political instability impedes financial development, with its variation a primary determinant of differences in financial development around the world. As such, it needs to be added to the short list of major determinants of financial development. First, structural conditions first postulated by
Engerman and Sokoloff (2002) as generating long-term inequality are shown here empirically to be exogenous determinants of political instability. Second, that exogenously-determined political instability in turn holds back financial development, even when we control for factors prominent in the last decade's cross-country studies of
financial development. The findings indicate that inequality-perpetuating conditions that result in political instability are fundamental roadblocks for international organizations like the World Bank that seek to promote financial development. The evidence here includes country fixed effect regressions and an instrumental model inspired by Engerman and Sokoloff's (2002) work, which to our knowledge has not yet been used in finance and which is consistent with current tests as valid instruments. Four conventional measures of national political instability — Alesina and Perotti's (1996) well-known index of instability, a subsequent index derived from Banks' (2005) work,
and two indices of managerial perceptions of nation-by-nation political instability — persistently predict a wide range of national financial development outcomes for recent decades. Political instability's significance is time consistent in cross-sectional regressions back to the 1960's, the period when the key data becomes available, robust
in both country fixed-effects and instrumental variable regressions, and consistent across multiple measures of instability and of financial development. Overall, the results indicate the existence of an important channel running from structural inequality to political instability, principally in nondemocratic settings, and then to financial
backwardness. The robust significance of that channel extends existing work demonstrating the importance of political economy explanations for financial development and financial backwardness. It should help to better understand which policies will work for financial development, because political instability has causes, cures, and effects quite distinct from those of many of the key institutions most studied in the past decade as explaining financial backwardness.)
- 28 Jun 2012
- Working Paper Summaries
Leviathan in Business: Varieties of State Capitalism and their Implications for Economic Performance
Keywords: by Aldo Musacchio & Sergio G. Lazzarini
- Web
Business, Government & the International Economy Awards & Honors - Faculty & Research
Faculty Research Award for “New Frontiers in the Study of Africa’s Economic Past.” 2018 Alberto F. Cavallo : Winner of the 2018 Economics in Central Banking Award with Roberto Rigobon for the "Impact of the Billion Prices Project and... View Details
- 11 May 2022
- Blog Post
MoMBAs: The Inspiring Student Mothers of HBS
Infrastructure/Transportation Post-HBS Industry: Investment Banking in Natural Resources What is the best part about being a mom at HBS? Having the flexibility to drop off and pick up my daughter at her daycare every day and getting to... View Details
- 21 May 2015
- Blog Post
3 Ways to Fund Your HBS MBA
rates may be higher than what you could find right now through private loans, their most important advantage are their flexible payment plans. Education loans that you secure through a private bank or lending company. Private loan terms... View Details
- 10 Aug 2009
- Research & Ideas
High Commitment, High Performance Management
companies make mistakes that derail and even destroy them. How can companies sustain commitment and performance in this environment? A: Clearly the 2008-2009 economic crisis has some macroeconomic causes. But it can just as easily be explained by the approach to... View Details
Keywords: by Martha Lagace
- 18 May 2016
- Research & Ideas
Unethical Amnesia: Why We Tend to Forget Our Own Bad Behavior
write about a personal past experience that fit one of five categories: unethical, ethical, positive, negative, or neutral. The participants mostly wrote about commonplace actions (cheating on an exam or padding an expense report, for example) rather than felonious... View Details
Keywords: by Carmen Nobel
- 30 May 2023
- News
Finding PRIDE
second year, when I was looking for a job as a commercial and investment banker, I would look at their policies for nondiscrimination. Most banks had nothing, but Bank of America, Chase, and Citibank all... View Details
- Web
ARD - Georges F. Doriot : Educating Leaders, Building Companies, Baker Library, Harvard Business School
modern venture capital industry. "We are a movement, not just a company. A commercial bank lends only on the strength of past successes and proven assets. I want money to do things that have never been done before." Georges F. Doriot, in... View Details
- October 2022
- Case
Sustainable Finance at Itau BBA
By: George Serafeim, Maria Loumioti and Benjamin Maletta
As of August 2022, the Itau BBA had structured dozens of sustainability linked bonds, which made future interest payments a function of the borrower meeting a target for a sustainability metric, and had solidified its reputation as a pioneer of sustainable finance in... View Details
Keywords: Sustainable Finance; Corporate Social Responsibility; Environmental Sustainability; Growth Strategy; Debt Contracting; Performance Metrics; Risk Assessment; ESG (Environmental, Social, Governance) Performance; Financial Instruments; Risk Management; Debt Securities; Measurement and Metrics; Banking Industry; Pulp and Paper Industry; Latin America
Serafeim, George, Maria Loumioti, and Benjamin Maletta. "Sustainable Finance at Itau BBA." Harvard Business School Case 123-036, October 2022.
- 23 May 2018
- News
Claudio L. Haddad, OPM 12, 1987
Vargas 1976 Appointed Chief Economist, Banco de Investimentos Garantia S.A. 1980 Named Director, Central Bank of Brazil 1983 Appointed Partner, Banco de Investimentos Garantia S.A. 1987 Completes OPM Program at HBS 1993 Appointed CEO,... View Details
Keywords: Susan Young
- April 2005 (Revised January 2007)
- Case
Furman Selz LLC (A): A Tale of Two Acquisitions
By: Nancy D. Beaulieu, Boris Groysberg and Kyle Doherty
Profiles a firm that was reacquired by two companies with different degrees of success. Highlights integration challenges present in acquisition deals when the primary assets of the target are human capital. Focuses on Furman Selz's acquisition by Xerox in 1987; its... View Details
Keywords: Mergers and Acquisitions; Transition; Valuation; Human Capital; Compensation and Benefits; Integration; Organizational Culture; Banking Industry; Banking Industry; United States
Beaulieu, Nancy D., Boris Groysberg, and Kyle Doherty. "Furman Selz LLC (A): A Tale of Two Acquisitions." Harvard Business School Case 905-066, April 2005. (Revised January 2007.)
- September 2014
- Case
Carla Ann Harris at Morgan Stanley
By: Lakshmi Ramarajan and Alex Radu
Keywords: Career Management; Authenticity; Race; Identity; Personal Development and Career; Gender; Banking Industry
Ramarajan, Lakshmi, and Alex Radu. "Carla Ann Harris at Morgan Stanley." Harvard Business School Case 415-029, September 2014.
- 08 Oct 2018
- Research & Ideas
Knowing What Your Boss Earns Can Make You Work Harder
experiment with 2,060 workers at a large, multibillion dollar commercial bank with thousands of employees. The researchers examined a variety of information, including the number of emails sent and received over time and time-stamp data,... View Details
Keywords: by Rachel Layne
- 05 Nov 2021
- Op-Ed
Is the Business World Finally Ready for the Wisdom of Shibusawa?
Eiichi Shibusawa continues to gain influence in Japan—even though he died almost a century ago. Japan’s government announced earlier this year that the 19th century business leader would be the face on 10,000 yen ($90) bank notes—the highest value denomination in... View Details
- 11 Apr 2024
- News
Mission Control
Subscribe on iTunes Subscribe on Spotify More Skydeck episodes Hi, this is Dan Morrell, host of Skydeck. By the time Peter Platzer (MBA 2002) was a teenager, he knew he wanted to be a physicist—and he was fascinated by space, eagerly engrossed in space-time diagrams... View Details
- 13 May 2022
- Research & Ideas
Company Reviews on Glassdoor: Petty Complaints or Signs of Potential Misconduct?
such as violation history or financial leverage. In fact, those indicators rose and fell with remarkable consistency as violations occurred. “When we looked at Wells Fargo relative to the average in the banking industry, we could see it... View Details
- 30 Jun 2023
- Blog Post
Finding Pride
nondiscrimination. Most banks had nothing, but Bank of America, Chase, and Citibank all did, so that’s where I applied. I decided on San Francisco-based Bank of America because... View Details