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  • 2025
  • Working Paper

Bank Capital and the Growth of Private Credit

By: Sergey Chernenko, Robert Ialenti and David Scharfstein
We show that business development companies (BDCs)—closed-end funds that provide a significant share of nonbank loans to middle market firms—are very well capitalized according to bank capital frameworks. They have median risk-based capital ratios of about 36%... View Details
Keywords: Financing and Loans; Capital; Credit; Financial Institutions
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  • 2008
  • Working Paper

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

By: Dale F. Gray, Robert C. Merton and Zvi Bodie
This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details
Keywords: Financial Crisis; Macroeconomics; Central Banking; Risk Management
Related

    Bank Capital and the Growth of Private Credit

    We show that business development companies (BDCs) — closed-end funds that provide a significant share of nonbank loans to middle market firms — are very well capitalized according to bank capital frameworks. They have median risk-based capital ratios of about 36% and,... View Details
    • 2014
    • Chapter

    Schumpeter's Plea: Historical Reasoning in Entrepreneurial Theory and Research

    By: G. Jones and R. Daniel Wadhwani
    This chapter draws on theories of entrepreneurship and history to explore the ways in which historical processes play an integral role in entrepreneurship. It builds off the plea by Joseph Schumpeter for an active exchange between historical approaches and theories of... View Details
    Keywords: Entrepreneurs; Business History; Entrepreneurship; History; Organizations
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    • July 2015
    • Article

    Preparatory Power Posing Affects Nonverbal Presence and Job Interview Outcomes

    By: Amy J.C. Cuddy, Caroline A. Wilmuth, Andy J. Yap and Dana R. Carney
    We tested whether engaging in expansive (vs. contractive) "power poses" before a stressful job interview—preparatory power posing—would enhance performance during the interview. Participants adopted high-power (i.e., expansive, open) poses or low-power (i.e.,... View Details
    Keywords: Power Posing; Social Evaluation; Nonverbal Behavior; Presence; Posture; Behavior; Job Interviews
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    • 12 Oct 2010
    • Working Paper Summaries

    Crashes and Collateralized Lending

    Keywords: by Jakub W. Jurek & Erik Stafford; Banking; Financial Services
    • 13 Mar 2007
    • First Look

    First Look: March 13, 2007

    paradox by considering the enabling role of actors' social position. Adopting a relational view of human agency, I model the impact of their social position on the likelihood that actors will initiate changes that diverge from the existing institutions. I View Details
    Keywords: Martha Lagace
    • 25 Jan 2022
    • Research & Ideas

    More Proof That Money Can Buy Happiness (or a Life with Less Stress)

    happiness that money can bring, I think we are missing something,” says Jachimowicz, an assistant professor of business administration in the Organizational Behavior Unit at HBS. “We also need to think about all of the worries that it can free us from.” The idea that... View Details
    Keywords: by Michael Blanding
    • Research Summary

    Automotive Product Development

    At present, my primary research focus is studying product development in the auto industry. I am working with Stefan Thomke (HBS) and Takahiro Fujimoto (University of Tokyo) on the 4th Round of the Global Automotive Development Study. The first round of this... View Details

    • 30 Oct 2012
    • First Look

    First Look: October 30

    and by the effects of their private governance mechanisms. These organizational characteristics affect the stringency of monitoring through reputation, customer loyalty, differential impacts of government sanctions, and the standardization and internal monitoring of... View Details
    Keywords: Sean Silverthorne
    • 14 Nov 2017
    • First Look

    New Research and Ideas: November 14, 2017

    victimized. We measure biological markers of stress and behavioral indices of cognitive control before and after treated participants watch a series of real, crime-related videos (while the control group watches non-crime-related videos).... View Details
    Keywords: Carmen Nobel
    • 01 Jun 2023
    • HBS Case

    A Nike Executive Hid His Criminal Past to Turn His Life Around. What If He Didn't Have To?

    street-to-prison cycle that had ravaged his youth. He had passed a high school equivalency test and had earned a college degree, and by that point could envision a bright future as a budding accountant at Arthur Andersen, the firm he... View Details
    Keywords: by Dina Gerdeman; Apparel & Accessories
    • Web

    Behavioral Finance & Financial Stability

    These include heightened capital and liquidity requirements, more stress testing and capital planning at banks, and increased regulatory authority and tools for financial dissolution. Likewise, the authors... View Details
    • Web

    2023 Reunion Presentations - Alumni

    chains have come under unprecedented stress as a result of US-China trade tensions, the pandemic, and geopolitical shocks. We've documented US participation in global value chains over four decades, with particular focus on the last five... View Details
    • 19 Oct 2022
    • Op-Ed

    Cofounder Courtship: How to Find the Right Mate—for Your Startup

    uncomfortable, it’s a step toward a solid working foundation in what will almost surely be a roller coaster of a journey together. Being able to have these conversations also tests how you’ll handle and support each other during conflict... View Details
    Keywords: by Julia Austin
    • 11 Sep 2012
    • First Look

    First Look: September 11

    unconscious thought (UT), more so than after conscious thought (CT). We aimed to test the hypothesis that UT decreases intrusions and increases conceptual organization in memory. Methods. Participants were shown a View Details
    Keywords: Sean Silverthorne
    • 08 Sep 2022
    • Book

    Gen Xers and Millennials, It’s Time To Lead. Are You Ready?

    stories from his own work experiences and the careers of CEOs and nonprofit leaders who navigated challenges. His advice for emerging leaders: Discover yourself. Test your “crucibles” to find your moral compass and calling. For instance,... View Details
    Keywords: by Lane Lambert
    • 02 Apr 2001
    • Research & Ideas

    What Makes a Good Leader?

    can't always follow the top-down model," he says. "With the fluidity of information in business today, leaders need to be masterful listeners; they need to be able to receive as well as send." David Thomas stresses the... View Details
    Keywords: by Deborah Blagg & Susan Young
    • 01 Feb 2001
    • News

    What Makes a Good Leader

    listeners; they need to be able to receive as well as send." David Thomas stresses the importance of "multimodality" in communication. "What you say is only the beginning," he states. "Your behavior, your actions, and your decisions are... View Details
    Keywords: Management
    • 09 Jul 2020
    • Research & Ideas

    It’s Time to Reset Decision-Making in Your Organization

    price decreases segmented by customer and channel. Another hallmark of stressful situations is that they can lead to paralysis and inaction, what Nathan Furr calls “unproductive uncertainty.” He recommends three strategies for... View Details
    Keywords: by Boris Groysberg and Sarah Abbott