Publications

17 Aug 2020
Research & Ideas

What the Stockdale Paradox Tells Us About Crisis Leadership

neighborhood. Research by Leach and others indicates that people who survive disasters are able to regain cognitive function quickly after the event, assess their new environment accurately, and take... View Details

Keywords: by Boris Groysberg and Robin Abrahams

01 Dec 2022
News

December 2022 Alumni and Faculty Books and Podcasts

Publishing Corporate governance regulates not only interactions between shareholders, management, and oversight bodies such as boards of directors, but also ensures appropriate checks and View Details

Bank Capital and the Low Risk Anomaly

Minimum capital requirements are a central tool of banking regulation. Setting them balances a number of factors, including any effects on the cost of capital and in turn the rates available to borrowers. Standard theory predicts that, in perfect and efficient... View Details

30 May 2017
Working Paper Summaries

Lessons Unlearned? Corporate Debt in Emerging Markets

Keywords: by Laura Alfaro, Gonzalo Asis, Anusha Chari, and Ugo Panizza; Banking

January 2023 (Revised November 2023)
Technical Note

Ethical Analysis: Honesty and Self-Interest

By: Nien-hê Hsieh and Christopher Diak

Information asymmetry is pervasive in business and can often confer great advantage. This note distinguishes forms of deceptive behavior in the face of information asymmetry and aims to help students analyze their impermissibility. View Details

Keywords: Ethics; Analysis; Balance and Stability

2009
Book

Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed and What to Do About It

By: Josh Lerner

In response to the financial crisis, governments are being far more aggressive in intervening to promote economic activity, a trend that shows little tendency of alleviating. This book looks at the experiences of governments in encouraging entrepreneurs and venture... View Details

Keywords: Economic Growth; Financial Crisis; Entrepreneurship; Venture Capital; Policy; Business and Government Relations

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January 2025
Case

Davivienda Bank's Upskilling and Reskilling Strategy in Colombia (Abridged)

By: Jorge Tamayo, Raffaella Sadun and Jenyfeer Martinez Buitrago

Set in 2022, this abridged case examines the digital transformation strategy of Davivienda—a leading player in Colombia’s commercial banking sector and one of the companies belonging to Grupo Bolívar, a major Colombian conglomerate—and the bank’s upskilling and... View Details

December 2017
Case

La Ceiba: Navigating Microfinance and Relationships in Honduras (A)

By: Christine L. Exley, John Beshears and Alison Wood Brooks

This case follows the program director of La Ceiba, a Honduras-based microfinance institution, as he navigates four challenging negotiation scenarios involving the organization's loan clients. Students are asked to adopt the perspective of the Program Director and to... View Details

Keywords: Negotiation; Power; Apology; Negotiation Process; Microfinance; Power and Influence; Situation or Environment

10 Jul 2018
First Look

New Research and Ideas, July 10, 2018

simultaneously manage the seemingly contradictory dualities of the job: integrating direct decision-making with indirect levers like strategy and culture, balancing internal View Details

Keywords: Dina Gerdeman

22 Sep 2016
News

Words and Pictures

lives and encourages project participants to think of their reflections as a guidepost, not a prescription. “To put it in HBS terms, it is a balance sheet—i.e., a specific view of a snapshot in time; not an... View Details

Keywords: Susan Young

2022
Chapter

State-Formation, Statist Islam, and Regime Instability: Evidence from Turkey

By: Kristin Fabbe

Religion, and particularly the forces of political Islam and state secularism, have been central to discussions of regime stability in the Turkish case. Intense polarization, political instability, and military interventions have propelled Turkey into crisis about once... View Details

Keywords: Ottoman Empire; Regime; State Secularism; Political Islam; Democracy; Autocracy; Religion; Government and Politics; Turkey

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22 Feb 2022
News

Savings and Loam

they’re generating interest at the bank. Cummings intends to close that loop with Walden Mutual, which he founded in 2021 to create impact on both the deposit and lending sides of the balance sheet. (He... View Details

Keywords: Jen McFarland Flint; Funds, Trusts, and Other Financial Vehicles; Funds, Trusts, and Other Financial Vehicles

2023
Working Paper

The Real Effects of Fair Workweek Laws on Work Schedules: Evidence from Chicago, Los Angeles, and Philadelphia

By: Caleb Kwon and Ananth Raman

Effective in eight jurisdictions and banned in four, Fair Workweek Laws (FWL) aim to increase the predictability and stability of work schedules. Among other requirements, these laws penalize employers for unilaterally adjusting work schedules without providing some... View Details

Keywords: Working Conditions; Employees; Outcome or Result; Los Angeles; Chicago; Philadelphia

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2024
Working Paper

The Cram Method for Efficient Simultaneous Learning and Evaluation

By: Zeyang Jia, Kosuke Imai and Michael Lingzhi Li

We introduce the "cram" method, a general and efficient approach to simultaneous learning and evaluation using a generic machine learning (ML) algorithm. In a single pass of batched data, the proposed method repeatedly trains an ML algorithm and tests its empirical... View Details

Keywords: AI and Machine Learning

Article

Nonbank Lending and Credit Cyclicality

By: Quirin Fleckenstein, Manasa Gopal, German Gutierrez and Sebastian Hillenbrand

We document three facts about nonbank lending in the syndicated loan market. First, nonbank lending is more than twice as cyclical as bank lending. Second, declines in nonbank lending explain most of the declines in syndicated lending during the Great Recession and... View Details

Keywords: Nonbank Lending; Credit Cycles; CLO; Mutual Funds; Leveraged Lending; COVID-19; Great Migration; Non-bank Financial Institutions; Balance and Stability; Financial Institutions; Financing and Loans

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01 Apr 2022
News

Deep Purpose with Ranjay Gulati, Professor at Harvard Business School and Best-Selling Author

January 2024
Case

National Football League and Private 5G

By: Andy Wu, Grant Son and Shuoyu Chen

On September 9, 2021, the National Football League (NFL) designated Verizon as its official 5G partner in a 10-year deal, committed to enhance the experience for NFL teams, players, and fans in stadiums. NFL Commissioner Roger Goodell said, “Verizon will help us... View Details

Keywords: Football; National Football League; 5G; Verizon; Communication Technology; Mobile and Wireless Technology; Technology Adoption; Risk and Uncertainty; Business Strategy; Collaborative Innovation and Invention; Sports Industry; Telecommunications Industry

2022
Working Paper

A Conceptualization of Sub-Living Wages: Liabilities, Leverage, and Risk

By: Drew Keller, Katie Panella and George Serafeim

Currently the accounting system records employee wages as an expense in the income statement. However, paying below living wages can expose an organization to reputational and operational risks. In this paper, we offer an alternative conceptualization of the issue of... View Details

Keywords: Accounting; Impact Accounting; Leverage; Wages; Compensation and Benefits; Business and Stakeholder Relations; Business and Government Relations; Social Issues; Human Capital

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