Publications

2011
Working Paper

Why Fears about Municipal Credit Are Overblown

Highly publicized predictions of 50-100 municipal defaults have caused anxiety among municipal bond investors. While there is some chance that negative investor sentiment will lead to further spread widening, the probability of the kind of widespread default that would... View Details

Keywords: Financial Crisis; Borrowing and Debt; Insolvency and Bankruptcy; Bonds; Investment Return; City

Read Now

02 Jun 2009
First Look

First Look: June 2, 2009

209-111 This note briefly describes bankruptcy regimes and out-of-court restructuring in five countries: the U.S., the U.K., Germany, France, and Japan. Purchase this note: http://hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=209111 View Details

Keywords: Martha Lagace

March 2005
Supplement

Anne Mulcahy: Leading Xerox through the Perfect Storm (B)

By: William W. George and Andrew N. McLean

Supplements the (A) case. View Details

Keywords: Financial Liquidity; Insolvency and Bankruptcy; Profit; Leadership Development; Personal Development and Career; Motivation and Incentives; Service Industry; Computer Industry

20 Dec 2011
First Look

First Look: December 20

Per Strömberg Abstract We use an important legal event as a natural experiment to examine the effect of management fiduciary duties on equity-debt conflicts. A 1991 Delaware bankruptcy ruling changed the nature of corporate directors'... View Details

Keywords: Carmen Nobel

01 Sep 2004
News

Promise & Perils

arrival of large multinational competitors such as Wal-Mart and Carrefour. The SOEs in particular are feeling threatened. Of the 100,000 that remain, experts maintain that many are near bankruptcy and not prepared to compete head-to-head... View Details

Keywords: Roger Thompson; Colleges, Universities, and Professional Schools; Educational Services

October 2007 (Revised July 2016)
Teaching Note

Gordon Bethune at Continental Airlines

By: Anthony J. Mayo

A $385 million loss for the final months of fiscal year 1994 signaled Continental might go bankrupt. Could new CEO Gordon Bethune turn Continental around? Continental was in dire straits because the deregulation of the commercial airline industry in 1978 ushered in a... View Details

Keywords: Transformation; Insolvency and Bankruptcy; Profit; Leading Change; Organizational Change and Adaptation; Performance Improvement; Labor and Management Relations

May 1985 (Revised November 1990)
Case

Spinnaker Software Corp.

By: Howard H. Stevenson

Describes the problems faced by a company that has experienced remarkable growth, but growth which is below projections. The management must evaluate the company's position in the turbulent software industry. The two partners must then decide whether to cut back to... View Details

Keywords: Decisions; Borrowing and Debt; Insolvency and Bankruptcy; Profit; Growth and Development; Growth and Development Strategy; Problems and Challenges; Software; Information Technology Industry

27 Apr 2021
Research & Ideas

New Research: Surviving Bankruptcy, Useful Economics, and Retirement

Published Papers Do the Right Firms Survive Bankruptcy? Journal of Financial Economics Samuel Antill “In United States, Chapter 11 bankruptcy cases, firms are either reorganized, acquired, or liquidated. I show that decisions to liquidate... View Details

August 2009
Case

Nomura's Global Growth: Picking Up Pieces of Lehman

By: C. Fritz Foley and Linnea Meyer

What issues commonly arise in international financial management? Kenichi Watanabe and Takumi Shibata, CEO and COO of Nomura Holdings Inc., one of the leading investment banks in Asia, have the opportunity to expand their firm internationally through the acquisition of... View Details

Keywords: Mergers and Acquisitions; Insolvency and Bankruptcy; Investment Banking; International Finance; Cross-Cultural and Cross-Border Issues; Expansion; Financial Services Industry; Japan

04 May 2020
Research & Ideas

Predictions, Prophets, and Restarting Your Business

headlines from market-driven data and options. When much of the world economy is shut for weeks and possibly months, cascading bankruptcies and higher debt loads probably mean a tightening of purchasing decisions and capital expenditures... View Details

Keywords: by Frank V. Cespedes

05 Feb 2009
What Do You Think?

Why Can’t We Figure Out How to Select Leaders?

2001) Note: Selecting companies for good to greatness may be just as difficult as selecting leaders. One of the 11 companies that Collins cited as going from good to great went on to bankruptcy in just seven years after the publication of... View Details

Keywords: by Jim Heskett

Web

Research Resources | Baker Library

image scientists, organic chemists, polymer chemists, and physicists in the photometric laboratory in the research and development department. Polaroid Corporation Records Held by the Polaroid Bankruptcy Estate, 1951–2005 Board of... View Details

February 2011 (Revised January 2017)
Case

Countrywide plc

By: Stuart C. Gilson and Sarah L. Abbott

One of the world's leading investors in distressed companies, Oaktree Capital Management, is contemplating a "loan to own" investment in the debt of Countrywide plc, a financially troubled residential real estate agent based in the U.K. Only sixteen months earlier,... View Details

Keywords: Mergers and Acquisitions; Restructuring; Financial Crisis; Capital Structure; Insolvency and Bankruptcy; Financial Management; Investment; Real Estate Industry; United Kingdom

July 2009 (Revised July 2009)
Case

Delphi Corp. and the Credit Derivatives Market (A)

By: Stuart C. Gilson, Victoria Ivashina and Sarah Abbott

In 2005, Jane Bauer-Martin, a hedge fund manager, is considering what she should do with the fund's large investment in the publicly traded bonds of Delphi Corp., a financially troubled auto parts supplier. Delphi is General Motor's key auto parts supplier, and, like... View Details

Keywords: Borrowing and Debt; Insolvency and Bankruptcy; Credit Derivatives and Swaps; Bonds; Financial Management; Risk Management