Publications
Publications
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- All HBS Web
(756)
- Faculty Publications (226)
- April–May 2021
- Article
The Influence of Loan Officers on Loan Contract Design and Performance
By: Robert Bushman, Janet Gao, Xiumin Martin and Joseph Pacelli
We investigate the extent to which loan officers generate independent, individual effects on the design and performance of syndicated loans. We construct a large database containing the identities of loan officers involved in structuring syndicated loan deals, allowing... View Details
- February 2021 (Revised October 2021)
- Case
Collab Capital
Founded in 2020 by Jewel Burks Solomon and her partners, Barry Givens and Justin Dawkins, Collab Capital was a new investment firm built on two pillars: first, it would identify and support ventures founded by Black entrepreneurs, a group underrepresented in... View Details
- 2021
- Working Paper
No-fault Default, Chapter 11 Bankruptcy, and Financial Institutions
By: Robert C. Merton and Richard T. Thakor
This paper analyzes the costs and benefits of a no-fault-default debt structure as an alternative to the typical bankruptcy process. We show that the deadweight costs of bankruptcy can be avoided or substantially reduced through no-fault-default debt, which permits a... View Details
- September 2020 (Revised November 2020)
- Case
d.light
By: Michael Chu, Krishna G. Palepu and Dilyana Karadzhova Botha
Kenyan off-grid-solar pioneer d.light can power entire homes in rural Africa but must now decide how to fund the growth of its asset-heavy business model. Ned Tozun and Sam Goldman founded d.light in 2006 to transform lives through solar solutions enabling access to... View Details
- September 2020
- Case
Uber at a Crossroads (2017)
By: Ramon Casadesus-Masanell and Karen Elterman
This case describes the history of Uber, its business model—including the ways it differed from that of the traditional taxi industry—and its competition with Lyft. The case is set in 2017, a year in which Uber was plagued by even more scandals than usual, though its... View Details
Keywords: Business Startups; Business Model; Customer Satisfaction; Fairness; Values and Beliefs; Price; Profit; Revenue; Investment; Government Legislation; Business History; Compensation and Benefits; Resignation and Termination; Employment; Wages; Lawfulness; Leadership Style; Leading Change; Management Style; Market Entry and Exit; Digital Platforms; Product Design; Organizational Culture; Problems and Challenges; Attitudes; Strategy; Competitive Strategy; Expansion; Transportation Networks; Mobile and Wireless Technology; Valuation; Transportation Industry; Technology Industry; United States
- 2020
- Chapter
Reserve Accumulation, Sovereign Debt, and Exchange Rate Policy
By: Laura Alfaro and Fabio Kanczuk
In the past decade, foreign participation in local-currency bond markets in emerging countries increased dramatically. Additionally, emerging countries are increasingly deviating from inflation targeting regimes, managing their exchange rate and engaging in... View Details
- May 2020
- Article
Negotiating a Better Future: How Interpersonal Skills Facilitate Inter-Generational Investment
By: Nava Ashraf, Natalie Bau, Corinne Low and Kathleen McGinn
Using a randomized control trial, we examine whether offering adolescent girls nonmaterial resources—specifically, negotiation skills—can improve educational outcomes in a low-income country. In so doing, we provide the first evidence on the effects of an intervention... View Details
- 2020
- Working Paper
The Myth of the Lead Arranger’s Share
By: Kristian Blickle, Quirin Fleckenstein, Sebastian Hillenbrand and Anthony Saunders
We make use of Shared National Credit Program (SNC) data to examine syndicated loans in which the lead arranger retains no stake. We find that the lead arranger sells its entire loan share for 27 percent of term loans and 48 percent of Term B loans, typically shortly... View Details
- March 2020 (Revised June 2023)
- Case
EyeControl: Inspiring Communication
By: Paul A. Gompers and Danielle Golan
Eye-controlled communication device startup EyeControl was founded in Tel Aviv, Israel in 2016 by cofounders with a shared personal connection to locked-in syndrome—a neurological disorder that left sufferers cognitively sound, yet paralyzed, with the exception of eye... View Details
- October 2019 (Revised January 2020)
- Case
NewView Capital and Venture Capital Secondaries
By: Shai Bernstein, Ramana Nanda and Allison Ciechanover
While still a general partner at Silicon Valley–based New Enterprise Associates (NEA), Ravi Viswanathan considered the challenges presented by evolving market dynamics in the venture capital space. Startups were staying private longer, which led to limited partners... View Details
- July 2019
- Supplement
Omidyar Network's Impact Investment Framework
By: Vikram S Gandhi
A team of investors at Omidyar Network explore two different investment possibilities in the budding financial inclusion space using their investment framework to consider capital alternatives available for both investments, each of which carries highly divergent... View Details
- July 2019
- Supplement
Omidyar Network's Investment Decisions: MicroEnsure and Lenddo
By: Vikram S Gandhi
A team of investors at Omidyar Network explore two different investment possibilities in the budding financial inclusion space using their investment framework to consider capital alternatives available for both investments, each of which carries highly divergent... View Details
- July 2019
- Case
Christmas Inc. (A)
By: Susanna Gallani, Gregory Sabin, Lexor Adams and Nicholas Haberling
Santa Claus is facing increasing pressures to contain costs. The economic model that has worked for centuries is starting to show some cracks, to the point that he is considering outsourcing part of its toy production. Evaluating the bids his team collected from... View Details
- June 2019
- Case
ClearLife: From Prospect to Platform
By: Alexander Braun, Lauren Cohen, Mauro Elvedi and Jiahua Xu
ClearLife’s first product was a trading and analytics platform for participants in the U.S. life settlement market, the secondary market for life insurance. ClearLife played a key role in facilitating transactions and devising a common language for expressing value and... View Details
- Article
Europe's Alternative to Medicare for All: Swiss and Dutch Private Insurance Provide Better Coverage Than Canada's Single-Payer System
By: Regina E. Herzlinger and Bacchus Barua
An analysis of Canada’s single-payer healthcare system shows the dangers of the proposed Medicare for All model. In fact, the Canadian healthcare system is costly and drives poor outcomes when compared to objective performance measures. Alternatively, the Swiss and... View Details
- January 2019 (Revised March 2020)
- Case
Blackstone Alternative Asset Management in 2018
By: Emil Siriwardane, Luis M. Viceira and Shawn O'Brien
In early 2018, Blackstone announced that John McCormick would succeed Tom Hill as President and Chief Executive Officer of Blackstone Alternative Asset Management (BAAM), the largest fund-of-hedge funds in the world by a sizeable margin. As new CEO, McCormick must... View Details
- November 2018
- Teaching Note
The Tax Man: Taxes in Private Equity Real Estate
By: Nori Gerardo Lietz and Sayiddah Fatima McCree
Teaching Note for HBS No. 218-077. This teaching note provides the back up analysis for the various alternatives to be considered in choosing the optimal investment structure for the real estate acquisition. It contrasts the interests of the tax exempt investors... View Details
- 2018
- Working Paper
Opportunistic Returns and Dynamic Pricing: Empirical Evidence from Online Retailing in Emerging Markets
By: Chaithanya Bandi, Antonio Moreno, Donald Ngwe and Zhiji Xu
We investigate how dynamic pricing can lead to more product returns in the online retail industry. Using detailed sales data of more than two million transactions from the Indian online retail market, where price promotions are very common, we document two types of... View Details
- September 2018 (Revised August 2021)
- Teaching Note
Blackstone at Age 30 and Blackstone at 35
By: Josh Lerner
This teaching note is meant to guide in the instruction of HBS No. 316-013 "Blackstone at 30" case. It examines the process of institutionalization and scaling in private equity and alternative investments more generally, looking specifically at how Blackstone's size... View Details
- August 2018
- Case
Enfoca: Private Equity in Peru
By: Victoria Ivashina and Jeffrey Boyar
This case follows Enfoca, Peru’s largest local private equity firm and its portfolio company Maestro, a leading player in Peru’s hardware retail market. Peru’s GDP growth between 2008 and 2014 was the highest of any Latin American country. Growth of the Peruvian middle... View Details