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- All HBS Web (148)
- Faculty Publications (51)
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- October 2016
- Case
The Quiet Ascension of LA Fitness
By: John R. Wells and Gabriel Ellsworth
In 2016, LA Fitness was the largest chain of non-franchised fitness clubs in North America, operating 676 clubs, serving 4.9 million members, and generating revenues of over $1.9 billion. Founded by Chinyol Yi, Louis Welch, and Paul Norris in 1984, the privately held... View Details
Keywords: LA Fitness; Health Clubs; Fitness; Gyms; Chain; Exercise; Personal Training; Retention; Bally Total Fitness; 24 Hour Fitness; Planet Fitness; Buildings and Facilities; Acquisition; Business Growth and Maturation; Business Model; For-Profit Firms; Customers; Customer Focus and Relationships; Customer Satisfaction; Demographics; Age; Gender; Income; Residency; Borrowing and Debt; Capital; Capital Structure; Cash; Cash Flow; Cost; Private Equity; Financial Condition; Financial Liquidity; Financing and Loans; Investment Return; Price; Profit; Revenue; Geographic Location; Geographic Scope; Multinational Firms and Management; Business History; Employees; Recruitment; Selection and Staffing; Human Capital; Contracts; Business or Company Management; Goals and Objectives; Growth and Development Strategy; Market Entry and Exit; Operations; Service Operations; Leasing; Private Ownership; Problems and Challenges; Sales; Salesforce Management; Situation or Environment; Opportunities; Sports; Strategy; Business Strategy; Competition; Competitive Strategy; Competitive Advantage; Corporate Strategy; Expansion; Segmentation; Information Technology; Mobile Technology; Technology Platform; Health Industry; United States; California; Los Angeles
Wells, John R., and Gabriel Ellsworth. "The Quiet Ascension of LA Fitness." Harvard Business School Case 717-424, October 2016.
- 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
Di Maggio, Marco, George Gonzalez, and Richard Dulude. "Compound: Lending on the Blockchain." Harvard Business School Case 224-041, October 2023. (Revised December 2023.)
- 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
- 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
- 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
Musacchio, Aldo. "Laws vs. Contracts: Legal Origins, Shareholder Protections, and Ownership Concentration in Brazil, 1890–1950." Harvard Business School Working Paper, No. 08-053, January 2008.
- 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
- September 2010
- Article
Bank Lending During the Financial Crisis of 2008
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
Ivashina, Victoria, and David S. Scharfstein. "Bank Lending During the Financial Crisis of 2008." Journal of Financial Economics 97, no. 3 (September 2010): 319–338.
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 12 Apr 2016
- First Look
April 12, 2016
competitive imitation. Make it tough for rivals to copy your product-to-platform strategy: consider creating proprietary standards, using exclusivity contracts and erecting other barriers to competition. Publisher's link:... View Details
Keywords: Sean Silverthorne