Publications

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March 2014 (Revised May 2014)
Teaching Note

The TELUS Share Conversion Proposal

By: Lucy White and Benjamin C. Esty

On February 21, 2013, TELUS announced a proposal to convert the firm's non-voting shares into voting shares on a one-to-one basis, thereby eliminating the firm's dual class structure. Shareholders were scheduled to vote on the proposal at the firm's annual general... View Details

12 Dec 2005
Research & Ideas

Using the Law to Strategic Advantage

Most managers think the legal department is that office down the hall where they go to keep out of trouble or write a binding patent agreement. And that's shortsighted, says Harvard Business School professor Constance Bagley. A company that makes proactive use of the... View Details

Keywords: by Sean Silverthorne; Legal Services

May 2011
Article

Institutional Stock Trading on Loan Market Information

By: Victoria Ivashina and Zheng Sun

Over the past decade, one of the most important developments in the corporate loan market has been the increasing participation of institutional investors in lending syndicates. As lenders, institutional investors routinely receive private information about borrowers.... View Details

Keywords: Stocks; Financing and Loans; Negotiation; Investment Portfolio; Investment Return

July 2016 (Revised January 2017)
Case

Banking on Change: Aligning Culture and Compensation at Morgan Stanley

By: Malcolm S. Salter

This case study was prepared as part of a research project on Culture, Conduct, and Governance in Financial Firms. The objective of this project is to compare and contrast the efforts of U.S. and European banks to induce changes in organization culture in the aftermath... View Details

Keywords: Business or Company Management; Corporate Accountability; Ethics; Organizational Culture; Corporate Governance; Banks and Banking; United States; Europe

Research Summary

Overview

Having grown up in a developing country, Professor Sikochi’s research focus is driven by a desire to understand how capital flows to firms and entrepreneurs with the ultimate goal to help build capital markets in the developing economies. To this end, he conducts... View Details

September 2022 (Revised June 2025)
Case

York Capital CLOs and WorldStrides International

By: Victoria Ivashina and William Vrattos

The case follows the debt restructuring of WorldStrides International, a travel program provider in the education market, after the onset of COVID-19. The pandemic severely impacted the travel industry, creating challenges for many companies like WorldStrides, which... View Details

Keywords: COVID-19 Pandemic; Debt Restructuring; CLO; Compliance; Debt Securities; Financing and Loans; Decision Making; Travel Industry; Education Industry

Research Summary

Credit Supply Shocks, Network Effects, and the Real Economy

By: Laura Alfaro

We consider the real effects of bank lending shocks and how they permeate the economy through buyer-supplier linkages. We combine administrative data on all firms in Spain with a matched bank-firm-loan dataset with information on the universe of corporate loans for... View Details

October 2010 (Revised November 2010)
Case

YES BANK: Mainstreaming Development into Indian Banking

By: Michael Chu and Namrata Arora

YES BANK, founded in 2003 and highly successful, has consistently been profitable meeting the Indian government's Priority Sector Lending (PSL) requirements, unlike virtually all other private sector banks, which view PSL activity as a necessary but loss-making part of... View Details

Keywords: Development Economics; Private Equity; Microfinance; Investment; Governing and Advisory Boards; Corporate Social Responsibility and Impact; Environmental Sustainability; Expansion; Banking Industry; India

06 Nov 2018
First Look

New Research and Ideas, November 6, 2018

https://www.hbs.edu/faculty/Pages/item.aspx?num=55194 Large Banks and Small Firm Lending By: Bord, Vitaly, Victoria Ivashina, and Ryan D. Taliaferro Abstract—We show that since 2007, there was a large and persistent shift in the... View Details

Keywords: Dina Gerdeman

25 Mar 2013
Research & Ideas

How Chapter 11 Saved the US Economy

truth is anything but— "it's about reviving companies," says Gilson, author of the 2010 book Creating Value through Corporate Restructuring: Case Studies in Bankruptcies, Buyouts, and Breakups . Reviving The Economy Taking a... View Details

Keywords: by Kim Girard; Financial Services

06 Jun 2013
Working Paper Summaries

Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly

Keywords: by Malcolm Baker & Jeffrey Wurgler; Banking; Financial Services

15 Jan 2013
First Look

First Look: January 15

PublicationsThe Future of Organization Design Authors:Baldwin, Carliss Y. Publication:Journal of Organization Design Abstract The modern corporation has long been the central focus of the field of organization design. Such firms can be... View Details

Keywords: Sean Silverthorne

17 Jun 2008
First Look

First Look: June 17, 2008

are impacted most by regulation are those measuring working status, social networks, business skills, and attitudes toward risk. Download the paper from SSRN ($5): http://papers.nber.org/papers/w14012 Bank Structure and the Terms of View Details

Keywords: Martha Lagace

April 2020
Case

The Board's Role in Refocusing Bahrain Development Bank

By: Paul M. Healy and Alpana Thapar

In March 2016, Bahrain Development Bank’s (BDB) existing board term came to an end and Khalid Al Rumaihi was appointed the new chairman. Determining a need for change, he immediately overhauled the board and replaced BDB’s long-standing CEO. The new board quickly... View Details

Keywords: Board Of Directors; Governing and Advisory Boards; Organizational Change and Adaptation; Change Management; Banking Industry; Bahrain