Publications

SSRN

2011
Working Paper

Entrepreneurship and the Discipline of External Finance

By: Ramana Nanda

I confirm the finding that the propensity to start a new firm rises sharply among those in the top five percentiles of personal wealth. This pattern is more pronounced for entrants in less capital intensive sectors. Prior to entry, founders in this group earn about 6%... View Details

Keywords: Business Startups; Competency and Skills; Entrepreneurship; Financing and Loans; Personal Finance; Wealth

Article

Financing Experiments

By: Ramana Nanda and Matthew Rhodes-Kropf

November 2010
Background Note

Agricultural Cooperatives: Origins, Structure, Financing and Partnerships

By: Ray A. Goldberg and Matthew Preble

This technical note explains how agricultural cooperatives are structured and financed, as well as how they form partnerships with one another and other elements of the food system. View Details

Keywords: Agribusiness; Capital; Food; Organizational Structure; Partners and Partnerships; Agriculture and Agribusiness Industry; Agriculture and Agribusiness Industry

September 1983
Article

Budgetary Time Bombs: Controlling Government Loan Guarantees

By: Carliss Y. Baldwin, Donald R. Lessard and Scott P. Mason

Keywords: Budgets and Budgeting; Government and Politics; Financing and Loans

September 2020 (Revised December 2020)
Technical Note

Impact Investment, Catalytic Capital and Blended Finance

By: Tarun Khanna, Ramana Nanda, Benjamin N. Roth and Brian Trelstad

Educators

9 AM – 9 AM EDT, 12 Sep 2018
HBS Online

HBX Leading with Finance

Gain a deep understanding of the principles of finance - a toolkit for making smart financial decisions and the confidence to communicate those decisions to key stakeholders. Program Dates: September 12, 2018 - October 24, 2018 View Details

1990
Book

Continuous-Time Finance

By: Robert C. Merton

Keywords: Finance; Financing and Loans

January 1987 (Revised November 1991)
Case

R.J. Reynolds International Financing

By: W. Carl Kester and William B. Allen

Reynolds must source a substantial portion of the financing of its Nabisco acquisition in offshore bond markets. Morgan Guaranty has proposed a yen/dollar dual currency Eurobond that could be hedged into dollars. This structure is compared to Eurodollar Bonds, Euroyen... View Details

Keywords: Acquisition; Capital Markets; Currency Exchange Rate; Credit Derivatives and Swaps; Bonds; Financing and Loans

Educators

April 1997
Article

A Case Study of Organizational Form and Risk Shifting in Savings and Loan Industry

By: B. C. Esty

Keywords: Organizations; Financial Institutions; Risk and Uncertainty; Financial Services Industry

04 Mar 2016
News

Bridging the Gap Between Faith and Finance

John Cortines John Cortines John Cortines and Greg Baumer (both MBA 2015) are lifelong member of evangelical Christian churches. At HBS, they began to consider what their religion teaches about money and how... View Details

24 Nov 2020
Working Paper Summaries

Accounting for Product Impact in the Consumer Finance Industry

Keywords: by George Serafeim and Katie Trinh; Financial Services

12 Oct 2017
News

Technology is revolutionising supply-chain finance

Working Paper

Covenant-Light Contracts and Creditor Coordination

By: Bo Becker and Victoria Ivashina

In 2015, 70% of newly issued leveraged loans had weaker enforcement features, called covenant-light or "cov-lite"; this is nearly a three-time increase in cov-lite issuance compared to a previous peak in 2007. We evaluate whether this development can be attributed to... View Details

Keywords: Credit Cycles; Loan Contracts; Debt Covenants; Contracts; Financing and Loans; Credit; Borrowing and Debt

SSRN

Research Summary

Islamic Financing Practices

By: Samuel L. Hayes

Samuel L. Hayes III is examining (with faculty of Harvard University's Law School and Center for Middle Eastern Studies) Islamic banking and investment practices. Because the Koran prohibits the payment of fixed interest and guarantees on funds invested either with... View Details

The Wisdom of Finance

The finance industry is widely thought of as being morally suspect. Even those who work in finance tend to compartmentalize between their personal lives and how they get ahead professionally. Mihir Desai argues that not only is this preconception completely false... View Details

June 2015
Case

The Valuation and Financing of Lady M Confections

By: Mihir A. Desai and Elizabeth A. Meyer

This case explores the decision-making process that small, private businesses must undertake when considering an expansion and when selling equity to outside investors. In the process, students are asked to complete two exercises: a break-even analysis and a valuation... View Details

Keywords: Lady M; Bakery; Foodservice Industry; Breakeven Analysis; Restaurant Industry; Forecasting; Forecast; Financial Analysis; Borrowing and Debt; Corporate Finance; Equity; Financial Management; Financial Strategy; Finance; Food; Valuation; Food and Beverage Industry; New York (city, NY)

Educators

2018
Other Teaching and Training Material

Finance Reading: Corporate Governance

By: John Coates and Suraj Srinivasan

Core Curriculum Readings in Finance cover the fundamental concepts, theories, and frameworks in finance. This reading presents an overview of corporate governance, focusing on for-profit businesses that are privately owned by dispersed investors—that is, not owned by a... View Details

Keywords: Finance; Corporate Governance; For-Profit Firms; Private Ownership; Conflict of Interests

Article

New Interest in Incentive Financing

By: Samuel Hayes

The article presents the findings of a study on incentive financings as they apply to institutional investors, particularly life insurance company investors. The author made contact with investment officers in 29 insurance companies, and have collected a considerable... View Details

Keywords: Motivation and Incentives; Financing and Loans; Institutional Investing