Publications

01 Jul 2025
Video

Government-industry collaboration for decarbonization

07 Jul 2020
Working Paper Summaries

Predictable Financial Crises

Keywords: by Robin Greenwood, Samuel G. Hanson, Andrei Shleifer, and Jakob Ahm Sørensen

29 Dec 2011
News

Year In Review: Mega Tech Brands Raise Megabucks

October 2005 (Revised December 2006)
Case

Magazine Luiza: Building a Retail Model of "Courting the Poor"

By: Frances X. Frei and Ricardo Reisen de Pinho

Describes the innovative retail model of the Brazilian firm Magazine Luiza. Magazine Luiza enables low-income consumer credit by applying a flexible and nuanced evaluation system. Additionally, its dedication to customer service, employee motivation, and progressive... View Details

Keywords: Motivation and Incentives; Information Technology; Income; Innovation and Management; Success; Customer Focus and Relationships; Credit; Retail Industry; Brazil

2024
Working Paper

Transitory and Permanent Cash Flow Shocks in Debt Contract Design

By: Le Ma, Anywhere Sikochi and Yajun Xiao

We examine how lenders design contracts to account for transitory and permanent cash flow shocks facing borrowers. We find that volatile transitory cash flow shocks are associated with fewer liquidity covenants, indicating financial flexibility that enables firms to... View Details

Keywords: Debt Covenants; Cash Flow Shocks; Debt Contracting; Likelihood Of Default; Cash Flow; System Shocks

SSRN

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January 2018 (Revised January 2021)
Case

Colombia's 4G Road Program: The Pacífico 3 Bond Offer

By: John Macomber, Maria Fernanda Miguel and Mariana Cal

Colombia conceived its 4G (Fourth Generation) Road Program to try to attract $17 billion from the private sector for investment in toll roads. The nation had also created the National Infrastructure Agency of Colombia (ANI) to oversee multiple investments, and the... View Details

Keywords: Private Public Partnerships; Infrastructure; Projects; Finance; Emerging Markets; Colombia

Video

Neveen El Tahri

Neveen El Tahri, Chairperson of Delta Shield for Investment, reflects on her first job at Chase Manhattan Bank in Egypt and shares how she managed to secure a spot in the bank’s credit training program. View Details

08 Apr 2025
HBS Seminar

Dan Bartels, University of Chicago

02 Feb 2017
HBS Seminar

Lamar Pierce, Washington University in St Louis

23 Sep 2012
News

Flotation market sails on choppy waters

March 2019
Case

Mahindra Finance

By: V.G. Narayanan and Tanvi Deshpande

Mahindra Finance is a non-banking lender operating mainly in the rural and semi-urban areas of India. Set up in 1991, the company had grown to become a market leader with assets of $8.5 billion and a presence in 3,30,000 villages across India. Since most of Mahindra's... View Details

Keywords: Accounting; Business Model; Volatility; Customer Focus and Relationships; Decisions; Credit; Financing and Loans; Service Delivery; Risk and Uncertainty; Financial Services Industry; India

September 2004 (Revised May 2006)
Case

Bohemian Crowns: Ceskoslovenska Obchodni Banka (A)

By: Rawi E. Abdelal, Vincent Dessain and Monika Stachowiak

Tells the story of the Czech transition from a centrally planned to a free market economy, describing the first economic reforms, the fixed-exchange rate regime, and the voucher privatization. Also explains why, in the middle of the 1990s, the Czech Republic... View Details

Keywords: History; Currency Exchange Rate; Credit; Government Administration; Decisions; Economic Systems; Expansion; Mergers and Acquisitions; Developing Countries and Economies; Banks and Banking; Banking Industry; Czech Republic

December 1994 (Revised September 2011)
Case

The Millegan Creek Apartments

By: William J. Poorvu and John H. Vogel Jr.

Fleet Bank is considering a construction loan for a 390-unit apartment project in Austin, Texas. The case describes the location, market, product, and other real estate factors the bank needs to consider in making this loan. Also discusses the financial and... View Details

Keywords: Property; Financing and Loans; Banks and Banking; Housing; Risk and Uncertainty; Construction; Credit; Real Estate Industry; Banking Industry; Texas

February 2021
Case

Lidya: Bringing Nigerian FinTech Innovation to Global Small and Medium Enterprises

By: Lauren Cohen and Spencer C.N. Hagist

Lidya CEO Tunde Kehinde must size up options for the expansion of his novel lending practices that drastically reduce the credit cycle in his developing Nigeria, and determine if expansion into Eastern Europe will prove successful or disastrous. View Details

Keywords: Fintech; Economics; Entrepreneurship; Financing and Loans; Strategy; Expansion; Nigeria

05 Aug 2014
News

SBA’s former chief: Small business lending hasn’t recovered — and that’s a big problem

Video

Lilian Simbaqueba

Lilian Simbaqueba, the founder of LiSim, one of Colombia’s first microfinance companies, describes the challenges she has faced as a female business leader in Colombia, the challenges women in general face with... View Details

Gunnar Trumbull

Gunnar Trumbull is the Phillip Caldwell Professor of Business Administration at Harvard Business School.

Professor Trumbull’s primary area of expertise in political economy, with a focus on climate change. His current research and teaching focuses on... View Details

Keywords: credit card; credit card; credit card; credit card; credit card; credit card; credit card; credit card; credit card; credit card

02 Sep 2020
News

Inflation Is Higher Than the Numbers Say

2014
Working Paper

The Federal Reserve's Abandonment of Its 1923 Principles

By: Julio J. Rotemberg

This paper studies the persistence and some of the consequences of the eventual abandonment by the Federal Open Market Committee (FOMC) of the principles embedded in the Federal Reserve’s Tenth Annual Report of 1923. The three principles I focus on are 1) the... View Details

Keywords: Central Banking; Policy; United States