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  • October 2023 (Revised December 2023)
  • Case

Compound: Lending on the Blockchain

By: Marco Di Maggio, George Gonzalez and Richard Dulude
This case critically examines Compound, an innovative decentralized finance (DeFi) platform. Focusing on Compound’s blockchain-based borrowing and lending protocol, the case explores its automated, intermediary-free system using Ethereum smart contracts. This system... View Details
Keywords: Blockchain; Cryptocurrency; Disruptive Innovation; Borrowing and Debt; Financing and Loans; Organizational Design; Technological Innovation
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  • 15 Jan 2013
  • First Look

First Look: January 15

Much of the success of microfinance has been attributed to attempts to overcome the challenges of information asymmetries in uncollateralized lending. However, very little is known about the optimal contract structure of these loans, and... View Details
Keywords: Sean Silverthorne
  • 01 Dec 2014
  • Working Paper Summaries

Financing Innovation

Keywords: by William R. Kerr & Ramana Nanda
  • 2008
  • Working Paper

Laws vs. Contracts: Legal Origins, Shareholder Protections, and Ownership Concentration in Brazil, 1890–1950

By: Aldo Musacchio
The early development of large multidivisional corporations in Latin America required much more than capable managers, new technologies, and large markets. Behind such corporations was a market for capital in which entrepreneurs had to attract investors to buy either... View Details
Keywords: Voting; Entrepreneurship; Investment; Governance Controls; Contracts; Laws and Statutes; Ownership Stake; Brazil
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  • 15 Jan 2019
  • First Look

New Research and Ideas, January 15, 2019

Business School Case 719-417 National Australia Bank: Looking Out for the Customer After learning that most defaults were due to health, job, or marital problems, National Australia Bank revised its debt collection department to shift... View Details
Keywords: Dina Gerdeman
  • September 2010
  • Article

Bank Lending During the Financial Crisis of 2008

By: Victoria Ivashina and David S. Scharfstein
This paper documents that new loans to large borrowers fell by 47% during the peak period of the financial crisis (fourth quarter of 2008) relative to the prior quarter and by 79% relative to the peak of the credit boom (second quarter of 2007). New lending for real... View Details
Keywords: Financial Liquidity; Financing and Loans; Credit; Borrowing and Debt; Financial Crisis; Banking Industry
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  • 16 Jun 2021
  • HBS Case

Cruising in Crisis: How Carnival Is Riding Out the COVID-19 Storm

On February 1, 2020, a passenger who had been on Carnival’s Diamond Princess ship docked in Japan tested positive for the COVID-19 virus. Soon afterward, 700 people on the ship contracted the virus—the largest coronavirus outbreak outside... View Details
Keywords: by Michael Blanding; Travel
  • 02 Oct 2018
  • First Look

New Research and Ideas, October 2, 2018

farm refers to a complex of rights and duties secured by contract in which a sovereign transferred the temporary exploitation of a holding for rent in advance. It was one of four tenurial complexes under which entitlements fell, the... View Details
Keywords: Dina Gerdeman
  • Research Summary

Overview

The overarching goal of my research is to produce works that are influential and informative to both academics and practitioners in the field of operations management. To accomplish this, I collaborate with industry partners who provide knowledge about their field,... View Details
  • 10 Aug 2010
  • First Look

First Look: August 10

prices of used ships to fall by as much as 80%. As ship prices (values?) fell, ship owners began to default on loans and new purchase contracts while banks holding loans secured by ships faced the possibility of increasing defaults... View Details
Keywords: Martha Lagace
  • 28 May 2020
  • Research & Ideas

Coronavirus Could Create a 'Bankruptcy Pandemic'

cover debt payments owed to creditors. This could set up the perfect storm for a huge wave of bankruptcies in the weeks and months ahead, says Stuart C. Gilson, the Steven R. Fenster Professor of Business Administration at Harvard... View Details
Keywords: by Dina Gerdeman; Financial Services; Banking
  • 02 Oct 2017
  • What Do You Think?

Do Bitcoin and Digital Currency Have a Future?

persuade staff members that hedging both securities and commodities contracts was an acceptable investment strategy and not mere speculation. Eventually, we succeeded in registering with the SEC and 37 US states before piling up legal... View Details
Keywords: by James L. Heskett; Financial Services
  • 09 Mar 2010
  • First Look

First Look: March 9

for sovereign debts are minimal since little can be used as collateral and the ability of a court to force a sovereign entity to comply has been extremely limited, especially given the lack of a supranational legal authority capable of... View Details
Keywords: Martha Lagace
  • 02 Feb 2010
  • First Look

First Look: Feb. 2

and Finance (forthcoming). (Also Harvard Business School Working Paper No. 05-053 and NBER Working Paper No. 13131.) Abstract The main arguments in favor of and against nominal and indexed debt are the incentive to default through... View Details
Keywords: Martha Lagace
  • 22 Apr 2014
  • First Look

First Look: April 22

more profitable lending, their power is muted by both deferred compensation and the limited liability typically enjoyed by credit officers. Second, we present direct evidence that incentive contracts distort judgment and beliefs, even... View Details
Keywords: Sean Silverthorne
  • 04 Oct 2007
  • What Do You Think?

Has Managerial Capitalism Peaked?

private equity management were oversold companies taken over by private equity groups have been stripped of their assets and hold unsustainable debt burdens." Gerald Nanninga, in lamenting the decline of "emotional... View Details
Keywords: by Jim Heskett
  • 01 Sep 2015
  • First Look

First Look -- September 1, 2015

research in finance and economics. We propose two tests to evaluate how well measures of financial constraints actually capture constraints. We find that firms typically classified as constrained do not in fact behave as if they were constrained: they have no trouble... View Details
Keywords: Sean Silverthorne
  • 20 Nov 2018
  • First Look

New Research and Ideas, November 20, 2018

structure may affect borrowing costs. Corporate legal structure refers to the legal fragmentation of a firm into multiple, separately incorporated entities. This fragmentation is bound to be a factor when lenders determine the pricing of View Details
Keywords: Dina Gerdeman
  • 13 Aug 2008
  • Research & Ideas

The Inner Life of Leaders

stern letter, Eisenhower was on the verge of replacing him as commander of one of the armies. Q: What do the hedgehog and fox metaphors mean in relation to the complexities of leadership? A: The title of the book is a debt I owe to Isaiah... View Details
Keywords: by Martha Lagace
  • 20 Dec 2011
  • First Look

First Look: December 20

for firms to capture value in a modular system. This paper brings together the theory of modularity from the engineering and management literatures with the modern economic theory of property rights and relational contracts to address the... View Details
Keywords: Carmen Nobel

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