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  • July 2005 (Revised September 2020)
  • Case

The U.S. Current Account Deficit

By: Laura Alfaro, Rafael Di Tella, Ingrid Vogel, Renee Kim, Sarah Jeong, Matthew Johnson and Jonathan Schlefer
Investors and policymakers throughout the world were confronted with the risk of painful economic consequences arising from the large U.S. current account deficit. In 2007, the U.S. current account deficit was $731 billion, equivalent to 5.3% of GDP. The implications... View Details
Keywords: World Economy; Macroeconomics; Borrowing and Debt; Currency; Foreign Direct Investment; Business and Government Relations; United States
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  • Web

Investing in Emerging Industries | Baker Library | Bloomberg Center | Harvard Business School

Depression, the Glass-Steagall Act signed into law by President Roosevelt in 1933 called for the separation of commercial banks (that took standard deposits) from investment banks (that made investments with enterprises associated with higher risk). The following year,... View Details
  • Web

HBS - Financials | Supplemental Financial Information

percent of total revenue. Three factors govern the change in the endowment distribution: a specified rate increase set by the University, which in fiscal 2023 was 4.5 percent; new gifts to the endowment, which comprises more than 1,000... View Details
  • 07 Aug 2007
  • First Look

First Look: August 7, 2007

financing proposals to pursue. A straight equity issue will dilute his principal shareholders' ownership, but seems like the safer alternative in an industry that is notorious for its high failure rate. On the other hand, a convertible View Details
Keywords: Martha Lagace
  • Web

Sustainable Investing Course | HBS Online

environmental, social, and governance (ESG) factors, and learn how to incorporate them into investment decisions and measure and manage their impact. 6 weeks 5 hours per week 6 modules Self-Paced with regular deadlines This course earns... View Details
  • 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
  • 26 Jul 2016
  • First Look

July 26, 2016

impressions of the expresser. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=51400 Can Paying Firms Quicker Affect Aggregate Employment? By: Barrot, Jean-Noel, and Ramana Nanda Abstract—In 2011, the federal government... View Details
Keywords: Sean Silverthorne
  • 07 Sep 2011
  • First Look

First Look: Sept. 7

Fragmented upstream and downstream channels instead persist, with strong odds against upstream suppliers waging a successful defense of material interests. Such distinctive industrial structures, we show, were a direct result of whether the central View Details
Keywords: Sean Silverthorne
  • 04 Dec 2018
  • First Look

New Research and Ideas, December 4, 2018

link: https://www.hbs.edu/faculty/Pages/item.aspx?num=55322 forthcoming Journal of Financial Economics Governance Through Shame and Aspiration: Index Creation and Corporate Behavior By: Chattopadhyay, Akash, Matthew D. Shaffer, and... View Details
Keywords: Dina Gerdeman
  • 18 Sep 2018
  • First Look

New Research and Ideas, September 18, 2018

Games, and can earn enough revenue to cover large ongoing costs, their owners—local governments and taxpayers—must pay off the deficits. Summer Olympics stadiums, normally built to seat over 70,000 people, are particularly at risk of... View Details
Keywords: Dina Gerdeman
  • 02 Oct 2017
  • What Do You Think?

Do Bitcoin and Digital Currency Have a Future?

specific use of the asset class when he observed that a possible use of Bitcoin could be “hedge funds betting on sovereign debt defaults.” Charles Sabatier III added that Bitcoin is the most secure financial network in the world. “The... View Details
Keywords: by James L. Heskett; Financial Services
  • September 2010
  • Case

Angola and the Resource Curse

By: Aldo Musacchio, Eric D. Werker and Jonathan Schlefer
Since emerging from decades of conflict in 2002, Angola has been growing at a scorching double-digit rate, led by its oil industry. But the nation remains beset with seemingly intractable problems: immense inequality, low life expectancy, a non-diversified economy, and... View Details
Keywords: Crime and Corruption; Developing Countries and Economies; Financial Crisis; Borrowing and Debt; Financial Institutions; Globalized Economies and Regions; Policy; Government Administration; Emerging Markets; Natural Environment; Angola
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  • April 2019 (Revised December 2021)
  • Case

Sears: The Demise of an American Icon

By: Kristin Mugford and Sarah L. Abbott
In 2019, ESL Investments’ $5.2 billion offer to purchase Sears Holdings out of Chapter 11 bankruptcy, was accepted, despite opposition from the company's unsecured creditors and other parties. ESL, which was led by Eddie Lampert, had acquired a stake in Sears following... View Details
Keywords: Bankruptcy; Reorganization; Bonds; Restructuring; Business Divisions; Transformation; Fairness; Borrowing and Debt; Credit; Insolvency and Bankruptcy; Corporate Governance; Motivation and Incentives; Retail Industry; United States
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  • 16 Apr 2020
  • Research & Ideas

Has COVID-19 Broken the Global Value Chain?

globalization and global value chains. But it does entail paying attention to potential bottlenecks, risk, and diversification of trade partners. Economic policy should also further try to foster local currency debt markets, although this... View Details
Keywords: by Sean Silverthorne
  • Person Page

Press / Media

By: Debora L. Spar

I'll have a girl, please

American Public Media [Marketplace], 12 September 2006

DR. DEBORAH SPAR: "The ability to choose gender is really only the first... View Details

  • 08 Jun 2010
  • First Look

First Look: June 8

but real differences in corporate finance and investment through two different channels: a "more money" effect arising from the debt coinsurance feature of conglomerates and a "smarter money" effect arising from more... View Details
Keywords: Martha Lagace
  • 24 Apr 2012
  • First Look

First Look: April 24

2012. The projections appeared contrary to Hayman Capital's views on Japan, where the fund had built a bearish position. Japan had the world's highest debt burden, whether expressed as a percentage of GDP or View Details
Keywords: Carmen Nobel
  • 15 Dec 2023
  • News

Exploring Business Opportunities in Africa; Alumni Grapple with Plastic Waste Problem

Clubs News Clubs News Webinar illuminates broad array of business opportunities across Africa On December 5th, the HBS African-American Alumni Association (HBSAAA) hosted ‘Doing Business in Africa: From Opportunity to Action’, a webinar panel of HBS alumni who shared... View Details
Keywords: Margie Kelley
  • 18 Feb 2014
  • First Look

First Look: February 18

Frictions in Shadow Banking: Evidence from the Lending Behavior of Money Market Funds By: Chernenko, Sergey, and Adi Sunderam Abstract—We document the consequences of money market fund risk taking during the European sovereign debt... View Details
Keywords: Sean Silverthorne
  • Web

Buy Now, Pay Later: Home Finance

decentralized nature of building and financing homes posed obstacles to private organizations who tried to do the same. Anecdotal accounts, like this feature in the Ladies Home Journal in 1903, suggest that most home-buyers cobbled together financing from a variety of... View Details