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  • 16 May 2017
  • First Look

First Look at New Ideas and Research, May 16

no legal duty to protect or serve the companies whose shares they own; they are shielded by the doctrine of limited liability from legal responsibility for those companies’ debts and misdeeds; they may buy and sell shares without... View Details
Keywords: Re: Multiple Faculty
  • 21 Dec 2009
  • Research & Ideas

Good Banks, Bad Banks, and Government’s Role as Fixer

Most books about the nation's financial crisis tell us what happened. In his new book, HBS senior lecturer Robert Pozen tells us how to fix the system. A financial industry veteran and chairman of MFS Investment Management, a Boston firm... View Details
Keywords: by Roger Thompson; Banking; Financial Services
  • August 2014 (Revised March 2016)
  • Case

Thomas Cook Group on the Brink (A)

By: Benjamin C. Esty, Stuart C. Gilson and Aldo Sesia
Harriett Green, the newly appointed CEO of Thomas Cook Group, faces a daunting set of business and financial challenges at the 171-year old UK travel services company. The company has lost almost £600 million in the last three quarters; has seen its stock price fall... View Details
Keywords: Turnaround; Corporate Restructuring; Change Leadership; Female Ceo; Change Management; Communication Strategy; Borrowing and Debt; Cash Flow; Cost Management; Financial Liquidity; Financial Management; Executive Compensation; Leading Change; Crisis Management; Value Creation; Travel Industry; United Kingdom
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  • 04 Nov 2008
  • First Look

First Look: November 4, 2008

Lerner, and Jean Tirole Abstract The sub-prime crisis has shown a harsh spotlight on the practices of securities underwriters, which provided too many complex securities that proved to ultimately have little value. This uproar calls... View Details
Keywords: Martha Lagace
  • 31 Mar 2009
  • First Look

First Look: March 31, 2009

opportunity to bid for debt and equity claims on Plascar Industria e Comercio Ltda., the Brazilian subsidiary of the bankrupt global auto components company Collins & Aikman Corp. In evaluating this opportunity, students must analyze... View Details
Keywords: Martha Lagace
  • 08 Mar 2016
  • Research & Ideas

Solving an Economic Mystery Surrounding Argentina and Chile

streets of Buenos Aires. Yet this kind of globalized economy also created distortions, as it was the owners of land and commodities who became rich. When globalization came to a shuddering halt with the Great Depression, there was a crisis. Chile passed through an... View Details
Keywords: by Sean Silverthorne
  • 26 Sep 2017
  • First Look

First Look at New Research and Ideas, September 26, 2017

stylized facts about leverage and financial fragility for emerging market firms following the Global Financial Crisis (GFC). Corporate debt vulnerability indicators during the Asian Financial View Details
Keywords: Sean Silverthorne
  • 30 Jun 2009
  • First Look

First Look: June 30

inflation-indexed bond markets in the U.S. and the U.K. It documents a massive decline in long-term real interest rates from the 1990s until 2008, followed by a sudden spike in these rates during the financial crisis of 2008. Breakeven... View Details
Keywords: Martha Lagace
  • 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
  • 17 Nov 2015
  • First Look

November 17, 2015

April 5–6, 2013 in Cambridge, Massachusetts. In its call for the submission of theoretical and empirical papers for the symposium, the NBER noted that the global financial crisis of 2007–2008 and its aftermath have focused attention on... 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
  • 28 Aug 2014
  • Op-Ed

Government Can Do More to Unfreeze Small Business Credit

immediate impact of the financial crisis on small business and, second, driving economic recovery in the years following. Together, the three-the American Recovery and Reinvestment Act of 2009 (Recovery Act), the Small Business Jobs Act... View Details
Keywords: by Karen Mills; Banking
  • 13 Jun 2012
  • HBS Case

HBS Cases: A Startup Takes On the Credit Ratings Giants

Fons is about to propose a strategy to Kroll to launch KBRA. Along with Fons, an economist specializing in credit risk and rating agency issues, students are asked to consider several key questions: Should KBRA enter this business, which despite the economic View Details
Keywords: by Maggie Starvish; Banking; Financial Services
  • 13 Jun 2017
  • Research & Ideas

Why Global Investments Are Still a Good Bet

sectors that are booming. However, as markets in different countries have increasingly moved in tandem or correlated, from 50 or 60 percent in the 1990s to more than 90 percent after the financial crisis of 2008, that strategy has seemed... View Details
Keywords: by Michael Blanding; Financial Services
  • 31 Aug 2010
  • First Look

First Look: August 31

and a 0.4 point (7%) increase in the maximum debt to EBITDA covenant. This translates to as much as a 4 percentage point increase in equity return to the leveraged buyout firm. Download the paper... View Details
Keywords: Sean Silverthorne
  • 07 Dec 2010
  • First Look

First Look: Dec. 7

http://www.hbs.edu/research/pdf/11-040.pdf Financial Guarantors and the 2007-2009 Credit Crisis Authors:Daniel Bergstresser, Randolph Cohen, and Siddharth Shenai Abstract More than half of the municipal bonds issued between 1995 and 2009... View Details
Keywords: Sean Silverthorne
  • 22 Feb 2011
  • Research & Ideas

The Most Important Management Trends of the (Still Young) Twenty-First Century

including emerging economies like China, India, and Brazil. This list will continue to grow. A by-product of the intertwining of globalization and technology enabled networks is that events are no longer isolated, the impact of which was on vivid display during the... View Details
Keywords: by Sean Silverthorne
  • 18 Jun 2013
  • First Look

First Look: June 18

grown its real GDP at about 6% annually. This came after a huge debt crisis in 2001-02, wherein Turkey had to borrow $16 billion more from the IMF and comport with its difficult conditionality. Today, Turkey... View Details
Keywords: Anna Secino
  • 16 Sep 2014
  • First Look

First Look: September 16

transaction referred to as a "Happy Meal." The goal was to help convertible debt investors "hedge their respective investments through short sales." The challenge of the case is to understand why Molycorp used this... View Details
Keywords: Sean Silverthorne
  • 08 Feb 2011
  • First Look

First Look: Feb. 8

prices. Implications for research on the substantive and symbolic effects of inter-organizational affiliations are discussed. Management and the Financial Crisis (We Have Met the Enemy and He Is Us.) Authors:William A. Sahlman... View Details
Keywords: Sean Silverthorne