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- All HBS Web
(1,937)
- People (1)
- News (322)
- Research (1,376)
- Events (3)
- Multimedia (12)
- Faculty Publications (952)
Fintech Borrowers: Lax-Screening or Cream-Skimming?
Financial markets have recently witnessed a disruptive force: the rise of online intermediaries and, more generally, fintech companies, i.e., firms that apply technology to improve financial activities. Fintech companies have targeted the consumer credit market,... View Details
- September 2003 (Revised January 2005)
- Case
Emergence, Valhalla, and Orchid: Divergent Models for Venture Capital Funds
By: William A. Sahlman and Matthew Willis
Compares and contrasts three different venture capital funds from the perspective of a potential investor. The first fund has a technology-enabled services preference, the second a Mid-Atlantic region preference, and the third a seed round preference. Students are... View Details
Keywords: Borrowing and Debt; Entrepreneurship; Service Operations; Information Technology; Venture Capital
Sahlman, William A., and Matthew Willis. "Emergence, Valhalla, and Orchid: Divergent Models for Venture Capital Funds." Harvard Business School Case 804-056, September 2003. (Revised January 2005.)
- 26 Jan 2021
- Research & Ideas
A New Way to Cut Credit Card Debt: Pay Off One Purchase at a Time
A novel approach to repaying debt could help consumers free themselves from crushing credit card balances faster, according to new research. Rather than asking borrowers to make payments toward their total... View Details
- Web
2018 Financial Risk and Regulation Survey - Behavioral Finance & Financial Stability
that under-provision of credit due to excessive regulation posed a great threat to the financial system. Figure 6: In Your View, Do Any of the Following Pose a Threat to the U.S. Financial System? These two main concerns - political risk View Details
- 08 Mar 2016
- Research & Ideas
Solving an Economic Mystery Surrounding Argentina and Chile
At the end of the nineteenth century, Argentina was one of the great economic powers in the world—capitalizing on exports of beef and wheat to be a leader in the first wave of globalization. Neighboring Chile was poised for tremendous... View Details
Keywords: by Sean Silverthorne
- 01 Mar 2017
- News
Alumni and Faculty Books for March 2017
formas, dividends, debt maturity, asymmetric information, and more. Power Is Boring: The Globalized World as Explained by the Most Anarchic of Economists (Il potere è noioso: Il mondo globalizzato raccontato... View Details
- 30 Nov 2016
- Op-Ed
Where Could More Regulation Help Small Businesses? Online Lending.
paperwork, borrowers complete applications in minutes, with approval times cut to days, or even just a few minutes. And, in instances where borrowers want to shop and compare... View Details
- June 2025
- Case
TfL Pension Fund and the 2022 Gilt Market Crisis
By: Emil N. Siriwardane, Vincent Dessain, Emer Moloney and Carlota Moniz
On September 27, 2022, Padmesh Shukla, CIO of the Transport for London (TfL) Pension Fund, was keeping a careful eye on the turmoil in the U.K. sovereign bond (or gilt) market. When the new government announced the largest tax cuts the U.K. had seen in half a century,... View Details
Keywords: Financial Crisis; Macroeconomics; Assets; Asset Management; Borrowing and Debt; Corporate Finance; Capital Markets; Equity; Public Equity; Private Equity; Financial Liquidity; Financial Instruments; Debt Securities; Credit Derivatives and Swaps; Bonds; Stocks; Financial Strategy; Interest Rates; Governance; Governing and Advisory Boards; Crisis Management; Resource Allocation; Investment; Financial Services Industry; United Kingdom; England; London; Europe
- 2010
- Other Unpublished Work
Why Takeover Vulnerability Matters to Debtholders
By: Joan Farre-Mensa
Recent work documents that firms that are more vulnerable to takeover have higher borrowing costs. This paper investigates the reasons behind this stylized fact. My results show that firms with few antitakeover defenses face a higher cost of debt because lenders are... View Details
Keywords: Acquisition; Borrowing and Debt; Cost; Equity; Banks and Banking; Investment Portfolio; Risk Management; Agreements and Arrangements; Business and Shareholder Relations; Conflict and Resolution
Farre-Mensa, Joan. "Why Takeover Vulnerability Matters to Debtholders." 2010.
- August 2012 (Revised November 2017)
- Case
Turkey—A Work in Progress?
For the past 10 years, Turkey has grown its real GDP at about 6% annually. This came after a huge debt crisis in 2001-02, wherein Turkey had to borrow $16 billion more from the IMF and comport with its difficult conditionality. Today, Turkey is a middle-income country,... View Details
Keywords: Turkey; Economy; Macroeconomics; International Relations; Growth and Development Strategy; Turkey
Vietor, Richard H.K. "Turkey—A Work in Progress?" Harvard Business School Case 713-018, August 2012. (Revised November 2017.)
- 2018
- Working Paper
After the Carnival: Key Factors to Enhance Olympic Legacy and Prevent Olympic Sites from Becoming White Elephants
By: Isao Okada and Stephen A. Greyser
In recent years, the total spending on hosting the Olympic Games has snowballed. The 2008 Beijing Olympic Games spent $40 billion on infrastructure development, and the 2014 Sochi Winter Olympics reached $50 billion. Even when the glorious but costly Olympic Games come... View Details
Keywords: Olympic Venue; Effective Reuse; White Elephant; Sustainability; Buildings and Facilities; Sports
Okada, Isao, and Stephen A. Greyser. "After the Carnival: Key Factors to Enhance Olympic Legacy and Prevent Olympic Sites from Becoming White Elephants." Harvard Business School Working Paper, No. 19-019, August 2018.
- March 2011
- Article
Institutional Demand Pressure and the Cost of Corporate Loans
By: Victoria Ivashina and Zheng Sun
Between 2001 and 2007, annual institutional funding in highly leveraged loans went up from $32 billion to $426 billion, accounting for nearly 70% of the jump in total syndicated loan issuance over the same period. Did the inflow of institutional funding in the... View Details
Keywords: Leveraged Buyouts; Financial Crisis; Credit; Debt Securities; Financing and Loans; Interest Rates; Investment
Ivashina, Victoria, and Zheng Sun. "Institutional Demand Pressure and the Cost of Corporate Loans." Journal of Financial Economics 99, no. 3 (March 2011): 500–522.
- April 2012
- Case
Credit Rating Agency Reform in the US and EU
By: Robert C. Pozen and Brian Conroy
The purpose of this note is to explore reform options for the credit rating industry. The note examines the ways in which credit rating agencies contributed to the recent financial crisis, particularly through ratings of securitized products and sovereign debt. It... View Details
Keywords: Debt Securities; Financial Condition; Standards; Financial Crisis; Corporate Finance; Financial Services Industry; United States; European Union
Pozen, Robert C., and Brian Conroy. "Credit Rating Agency Reform in the US and EU." Harvard Business School Case 312-127, April 2012.
- Web
Managing International Trade and Investment - Course Catalog
creates opportunities and constraints for transnational firms, for example examining Shell in 1990s-2000s Russia, Google in Europe, battles between financial firms and states in sovereign View Details
- Web
Venture Capital and Private Equity - Course Catalog
Associates How and why investors structure deals How PE firms add value How investors screen and choose investments Getting a deal through the Investment Committee Role of debt... View Details
- May 2008
- Teaching Note
Subprime Meltdown: American Housing and Global Financial Turmoil
By: Julio J. Rotemberg
Teaching Note for [708042]. View Details
- February 1984 (Revised November 1993)
- Case
E.I. du Pont de Nemours & Co.--1983
Reviews changes in Du Pont's debt policy from 1965 to 1982. This period ended with a dramatic increase in Du Pont's debt level attendant upon the merger with Conoco. Students are asked to develop a new debt policy for Du Pont in the 1980s. View Details
Glauber, Robert R. "E.I. du Pont de Nemours & Co.--1983." Harvard Business School Case 284-062, February 1984. (Revised November 1993.)
- 16 May 2017
- First Look
First Look at New Ideas and Research, May 16
no legal duty to protect or serve the companies whose shares they own; they are shielded by the doctrine of limited liability from legal responsibility for those companies’ debts and misdeeds; they may buy... View Details
Keywords: Re: Multiple Faculty
- 1985
- Chapter
Stockholder, Manager, and Creditor Interests: Applications of Agency Theory
By: Michael Jensen and Clifford W. Smith Jr.
Keywords: Agency Theory; Business and Shareholder Relations; Financing and Loans; Credit; Borrowing and Debt
Jensen, Michael, and Clifford W. Smith Jr. "Stockholder, Manager, and Creditor Interests: Applications of Agency Theory." In Recent Advances in Corporate Finance, edited by E. I. Altman and M. G. Subrahmanyam. Homewood, IL: Richard D. Irwin, 1985. (Reprinted in Theory of the Firm: Governance, Residual Claims, and Organizational Forms, (Harvard University Press, 2000).)
- 21 Dec 2009
- Research & Ideas
Good Banks, Bad Banks, and Government’s Role as Fixer
guarantee 90 percent, rather than 100 percent, of debt offerings by banks and thrifts. Further, Congress should not extend beyond 2013 the higher limits on FDIC deposit insurance. The previous limits covered... View Details