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  • 20 Mar 2007
  • First Look

First Look: March 20, 2007

relies heavily on foreign debt. Access to such debt is suddenly curtailed when there is a downturn in market sentiment regarding the Icelandic economy as a whole. Students will reflect on the essential elements of a communications... View Details
Keywords: Martha Lagace
  • 13 Oct 2015
  • First Look

October 13, 2015

doubles debt forgiveness, contagion causes the default rate to increase by 10.9% on average. Using an exogenous shock to the lender's forgiveness policy, I further show that as the lender learns about the extent of borrower communication... View Details
  • 17 Nov 2015
  • First Look

November 17, 2015

evolving structure of corporate debt markets—and given rise to new questions about the private and social costs and benefits of leverage and, in particular, the role of leverage in affecting the likelihood and extent of systemic financial... View Details
Keywords: Sean Silverthorne
  • 05 Jul 2006
  • First Look

First Look: July 5, 2006

American multinational firms respond to politically risky environments by adjusting their capital structures abroad and at home. Foreign subsidiaries located in politically risky countries have significantly more debt than do other... View Details
Keywords: Sean Silverthorne
  • 05 Mar 2019
  • First Look

New Research and Ideas, March 5, 2019

firms lever up, the overall cost of capital falls as leverage increases equity beta, but as debt becomes riskier the marginal benefit of increasing equity beta declines. As a simple theoretical framework predicts, we find that leverage is... View Details
Keywords: Dina Gerdeman
  • 07 Aug 2007
  • First Look

First Look: August 7, 2007

complete abandonment of the current system. Download the paper: http://papers.nber.org/papers/W13213 Institutional Tax Clienteles and Payout Policy Authors:Mihir A. Desai and Li Jin Abstract This paper employs heterogeneity in... View Details
Keywords: Martha Lagace
  • 04 May 2010
  • First Look

First Look: May 4

policy details. Between 51% and 63% of respondents approve of the various potential kidney markets we investigate, between 42% and 58% want such markets to be legal, and 38% of respondents disapprove of at least one market. Respondents... View Details
Keywords: Martha Lagace
  • 01 Aug 2017
  • First Look

First Look at New Research and Ideas, August 1

find that during the 2008 financial crisis, PE-backed companies increased investments relative to their peers, while also experiencing greater equity and debt inflows. The effects are stronger among financially constrained companies and... View Details
Keywords: Sean Silverthorne
  • 12 Apr 2011
  • First Look

First Look: April 12

Ulrike Malmendier Abstract To what extent do peers affect our occupational choices? This question has been of particular interest in the context of entrepreneurship and policies to create a favorable environment for entry. Such... View Details
Keywords: Sean Silverthorne
  • 05 Feb 2019
  • First Look

New Research and Ideas, February 5, 2019

accumulated $74 billion in debt and beginning in 2014, the island had withheld debt payments despite the commonwealth’s constitutional guarantee of its general obligation bonds. In turn, the island found... View Details
Keywords: Dina Gerdeman
  • 11 Dec 2007
  • First Look

First Look: December 11, 2007

deep historical origins of 'born global' companies; the importance of networks and diaspora in new international market development; the key role of public policy in shaping cross-border entrepreneurial activity; and the impact of... View Details
Keywords: Martha Lagace
  • 10 Feb 2015
  • First Look

First Look: February 10

across contestants of different abilities, most respond negatively to competition, and highest-skilled contestants respond positively. In counterfactual simulations, we interpret a number of tournament design policies (number of... View Details
Keywords: Sean Silverthorne
  • 25 Jan 2011
  • First Look

First Look: Jan. 25

than that of other CEOs. CEO turnover sensitivity to firm performance is also significantly higher in founder-director firms compared to non-founder firms. Overall, the evidence suggests that boards with founder-directors provide more high powered incentives in the... View Details
Keywords: Sean Silverthorne
  • 22 Apr 2015
  • Op-Ed

Reforming Greece: Myths and Truths

were unable to provide new loans to underwrite company growth. “The recessionary measures that were taken in Greece were not the cause of the crisis.” Even large companies that could ordinarily rely on public equity or debt markets... View Details
Keywords: by George Serafeim
  • 22 Jul 2014
  • First Look

First Look: July 22

Working Papers Debt Redemption, Reserve Accumulation, and Exchange-Rate Regimes By: Alfaro, Laura, and Fabio Kanczuk Abstract—Foreign participation in local-currency-bond markets in emerging countries has increased dramatically over the... View Details
Keywords: Sean Silverthorne
  • 02 Sep 2015
  • Research & Ideas

Explaining China's Crash

practically zero here. One thing to watch for will be how China ensures the stability of its financial system since total debt has reached 250 percent of GDP, credit has been abundant, and the size of the shadow banking system has... View Details
Keywords: by Christina Pazzanese; Financial Services
  • 26 Jun 2007
  • First Look

First Look: June 26, 2007

shown to be associated with a 24% increase in US investors' equity FPI holdings. These results are robust to various controls, are not evident for debt capital flows, and are confirmed using an instrumental variables analysis. The use of... View Details
Keywords: Martha Lagace
  • 02 Oct 2007
  • First Look

First Look: October 2, 2007

conflict, focusing our attention on the findings from an empirical literature on the topic that has blossomed over the last 15 years. We then turn to a discussion of how individuals and policy makers can use what has been learned about... View Details
Keywords: Martha Lagace
  • 10 Apr 2007
  • First Look

First Look: April 10, 2007

create a partnership to acquire the assets of Parmalat in Uruguay. Focuses on their analysis prior to submitting a bid and their plan for improving the operations once their bid is accepted. In addition to improving operations, they must negotiate with creditors to... View Details
Keywords: Martha Lagace
  • 19 Feb 2019
  • First Look

New Research and Ideas, February 19, 2019

We conclude with directions for future research. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=55591 February 2019 American Economic Journal: Economic Policy Does It Matter If Your Health Insurer Is For Profit? Effects... View Details
Keywords: Sean Silverthorne

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