Publications

2020
Working Paper

Bankruptcy and the COVID-19 Crisis

By: Jialan Wang, Jeyul Yang, Benjamin Iverson and Raymond Kluender

We examine the impact of the COVID-19 economic crisis on business and consumer bankruptcies in the United States using real-time data on the universe of filings. Historically, bankruptcies have closely tracked the business cycle and contemporaneous unemployment rates.... View Details

Keywords: Bankruptcy; Financial Distress; COVID-19; Insolvency and Bankruptcy; Financial Crisis; Health Pandemics; United States

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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

Keywords: Fair Value Accounting; Financial Crisis; Capital Markets; Financial Liquidity; International Finance; Globalized Markets and Industries; Valuation; Banking Industry; Shipping Industry; Germany

15 Aug 2017
First Look

First Look at New Research and Ideas, August 15, 2017

Fixed—It’s Time for Regulators to Shut It Down By: Edelman, Benjamin G. Abstract—I argue that Uber's intentional malfeasance is its comparative advantage. But having grown through intentional illegality, Uber should face strict... View Details

Keywords: Sean Silverthorne

December 2018 (Revised June 2021)
Case

Bulb 2015: Foundation

By: John R. Wells and Benjamin Weinstock

In late August 2015, Amit Gudka and Hayden Wood, co-founders of Bulb, Ltd (Bulb), were ready to offer affordable renewable energy to the United Kingdom’s 27 million households. They hoped to capitalize on the hundreds of thousands of customers switching their energy... View Details

December 2021
Article

India's Food Supply Chain during the Pandemic

By: Matt Lowe, G.V. Nadhanael and Benjamin N. Roth

We document the impact of India’s COVID-19 lockdown on the food supply chain. Food arrivals in wholesale markets dropped by 69% in the three weeks following the lockdown and wholesale prices rose by 8%. Six weeks after the lockdown began, volumes and prices had fully... View Details

Keywords: COVID-19; Supply Chain; Health Pandemics; Food; Policy; System Shocks; Food and Beverage Industry; India

01 Dec 2023
News

Alumni and Faculty Books and Podcasts

issues such as diversity, leadership, competition, and optimal corporate board structures. Podcasts A La Latina Podcast Hosted by Cynthia Kleinbaum (MBA 2008) and Claudia Romo Edelman Despite Latinas... View Details

Keywords: podcasts

2014
Working Paper

Price Coherence and Adverse Intermediation

By: Benjamin Edelman and Julian Wright

Suppose an intermediary provides a benefit to buyers when they purchase from sellers using the intermediary's technology. We develop a model to show that the intermediary will want to restrict sellers from charging buyers more for transactions it intermediates. We show... View Details

Keywords: Intermediaries; Platforms; Two-Sided Markets; Price Coherence; Price; Two-Sided Platforms; Distribution Channels

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01 Mar 2024
News

Alumni and Faculty Books and Podcasts

Edited by Margie Kelley Alumni Books You Got This! A Straightforward, No-Nonsense Playbook for Crushing 130+ Workplace Challenges By Heidi Abelli (MBA 1993) Palmetto Publishing Stepping into the corporate world can feel like navigating a labyrinth, especially when... View Details

Keywords: Publishing Industries (except Internet); Information

Web

AASU50 - Alumni

Roberto Young, MBA 2007 AASU Award Recipients Each year at the H. Naylor Fitzhugh Conference, HBSAAA and AASU celebrate a tradition of leadership and service by conferring the Professional Achievement Award and the Bert King Award for... View Details

27 Oct 2009
First Look

First Look: October 27

case: http://cb.hbsp.harvard.edu/cb/product/210009-PDF-ENG Purchase the B supplement: http://cb.hbsp.harvard.edu/cb/product/210004-PDF-ENG Purchase the C supplement: http://cb.hbsp.harvard.edu/cb/product/210015-PDF-ENG eBay Partner Network (A) View Details

Keywords: Martha Lagace

July 2002 (Revised March 2003)
Case

Restructuring Bulong's Project Debt

By: Benjamin C. Esty and Michael Kane

Preston Resources, a small Australian gold mining company, bought the Bulong nickel mine for A$319 million in November 1998 and financed the acquisition by issuing a US$185 million (A$294 million) project bond. At the time, mining had been underway for several months,... View Details

Keywords: Finance; Projects; Restructuring; Bonds; Borrowing and Debt; Business Startups; Insolvency and Bankruptcy; Valuation; Mining Industry; Australia

08 Apr 2014
First Look

First Look: April 8

Publications August 2013 Journal of Consumer Research Brand Tourists: How Non-Core Users Enhance the Brand Image by Eliciting Pride By: Bellezza, Silvia, and Anat Keinan Abstract—This research examines how core consumers of selective... View Details

Keywords: Sean Silverthorne

January 5, 2012
Article

Internet Protocol Numbers and the American Registry for Internet Numbers: Suggested Guidance for Bankruptcy Trustees, Debtors-in-Possession, and Receivers

By: Stephen Ryan, Benjamin Edelman and Matthew Martel

Bankruptcy trustees, debtors-in-possession, and receivers are seeing an increase in efforts to sell Internet Protocol (IP) addresses, also referred to "IP Numbers." IP Numbers are the unique numeric identifiers associated with computers connected to the Internet. While... View Details

Keywords: Insolvency and Bankruptcy; Internet; Sales; Value; Policy; Contracts

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24 Sep 2013
First Look

First Look: September 24

invest in platform quality in open-source and proprietary two-sided platforms. Open platforms have open access, and developers invest to improve the platform. Proprietary platforms have closed access, and investment is done by the... View Details

Keywords: Sean Silverthorne

April 2002 (Revised February 2003)
Background Note

An Economic Framework for Assessing Development Impact

By: Benjamin C. Esty, Frank J. Lysy and Carrie Ferman

Discusses the differences between private and social returns and describes an economic framework for assessing a project's social return [known as the economic rate of return (ERR)]. The framework begins by analyzing the impact of a new project on private financiers... View Details

Keywords: Cost vs Benefits; Microeconomics; Investment Return; Framework; Projects; Business and Stakeholder Relations; Valuation

Web

Buy Now, Pay Later: Credit in Pre-Industrial Society

economics of lending and borrowing, but with its moral dimensions. 2 Usury—or lending on interest—was condemned by nearly every ancient authority from Plato onward. Medieval theologians followed their lead, placing avarice at the head of... View Details

09 May 2017
First Look

New Research and Ideas, May 9

chains lengthened by 20% following the collapse of a flagship dealer in 2008 and even more for institutions strongly connected to this dealer. Finally, dealers drastically reduced their inventory during the crisis. Publisher's link:... View Details

Keywords: Sean Silverthorne

February 2019 (Revised May 2021)
Case

Electric Car Wars, 2018

By: John R. Wells and Benjamin Weinstock

Electric cars had long been championed by environmentalists as a superior solution to the internal combustion engine (ICE), but, despite large government incentives and strong pioneering efforts by a few automakers over the years, electric and hybrid cars and light... View Details

December 2002 (Revised January 2004)
Case

Basel II: Assessing the Default and Loss Characteristics of Project Finance Loans (A)

By: Benjamin C. Esty and Aldo Sesia

In June 1999, the Basel Committee on Banking Supervision announced plans to revise the capital standards for banks. The Basel Committee believed that project loans were significantly riskier than corporate loans and, therefore, warranted higher capital charges under... View Details

Keywords: Risk and Uncertainty; Project Finance; Financing and Loans; Projects; Standards; Banks and Banking; Banking Industry