Publications

24 Aug 2016
Research & Ideas

Can Obamacare Be Saved?

expected to learn personal finance (e.g., how to budget for large purchases, like a house or a car, and to save for retirement), there has to be some expectation that people will budget for their own medical care. This will require more... View Details

Keywords: by John A. Quelch and Emily Boudreau; Insurance; Health

August 2005 (Revised October 2010)
Background Note

European Financial Integration

By: Rawi E. Abdelal and Christopher Bruner

Provides background on the history and status of financial integration in the European Union. Describes the pertinent treaty-based "fundamental freedoms," emphasizes challenges to further cross-border consolidation in the banking sector, and examines the regulatory... View Details

Keywords: Banks and Banking; Financial Markets; Financial Strategy; Cross-Cultural and Cross-Border Issues; Governing Rules, Regulations, and Reforms; Integration; Banking Industry; European Union

November 2023
Case

Will Fintechs and Central Banks Play in Emtech's Sandbox?

By: Daniel Isenberg and William R. Kerr

In February 2023, Emtech’s founder Carmelle Cadet is facing a dilemma. Rapidly running out of cash, Cadet has a term sheet from a leading VC but has a choice of how to structure the investment. The decision will have significant implications for Cadet’s own stake, as... View Details

Keywords: Cryptocurrency; Business Startups; Venture Capital; Cash Flow; Currency; Governing Rules, Regulations, and Reforms; Digital Platforms

November 2003 (Revised July 2014)
Case

'Walking on a Tightrope': Maintaining London as a Financial Center

By: Geoffrey Jones and Meghan Gallagher-Kernstine

Focuses on the development of London as a leading international financial center and the difficulties it faces maintaining its status. Examines London's history as a financial center from Roman times to the present day. London's position in the 19th century rested on... View Details

Keywords: International Finance; Geographic Location; Governing Rules, Regulations, and Reforms; Business History; Status and Position; Financial Services Industry; Europe; London

Fall 2024
Article

The Credit Rating Agency Market in Africa: Landscape and Future Research Directions

By: Saveshen Pillay and Anywhere Sikochi

We explore the role of credit ratings in global markets and highlight potential opportunities for research on the African credit rating agency market. We trace the evolution of credit ratings and conduct a comprehensive literature review of existing studies globally... View Details

Keywords: Credit Rating; Credit Rating Agencies; Credit; Conflict of Interests; Governing Rules, Regulations, and Reforms; Financial Markets; Africa

Article

The Harmonization of Lending Standards within Banks through Mandated Loan-Level Transparency

By: Jung Koo Kang, Maria Loumioti and Regina Wittenberg-Moerman

We explore whether the introduction of transparent reporting rules increases credit standard harmonization within a bank. We exploit the new loan-level reporting rules imposed on banks that borrow from the European Central Bank using repurchase agreements... View Details

Keywords: Transparency; External And Internal Reporting; Credit Term Harmonization; Regulatory Scrutiny; Banks and Banking; Credit; Financial Reporting; Governing Rules, Regulations, and Reforms; Learning

April 2011
Teaching Note

Consumer Lending in Japan: Citi CFJ (TN) (A) & (B)

By: J. Gunnar Trumbull

Teaching Note for 709017 and 710018. View Details

Keywords: Profit; Saving; Situation or Environment; Mergers and Acquisitions; Governing Rules, Regulations, and Reforms; Japan

13 Apr 2020
Research & Ideas

Small Businesses Are Worse Off Than We Thought

If the COVID-19 crisis lasts four months, 65 percent of small retailers say there’s a good chance they’ll be forced to close permanently by the end of the year. Among restaurants and bars, 70 percent expect to go out of business if social-distancing orders last into... View Details

Keywords: by Kristen Senz; Financial Services

Article

Do We Spend Too Much on Health Care?

By: Katherine Baicker and Amitabh Chandra

Health system reforms—such as changes in insurance design, patient cost sharing, payment reform, or price regulation—should be judged by whether they move us toward higher-value use of resources, rather than by whether they reduce spending. View Details

Keywords: Health Care and Treatment; Cost; Governing Rules, Regulations, and Reforms; Value Creation

Register to Read

2022
Article

Regulatory Treatment of Changes in Fair Value and the Composition of Banks' Investment Portfolios

By: Michael Iselin, Jung Koo Kang and Joshua Madsen

In their implementation of Basel III, U.S. bank regulators are again including changes in the fair value of available-for-sale (AFS) debt securities in Tier 1 capital, but only for the largest U.S. banks. This paper investigates a potential impact of expanding this... View Details

Keywords: Fair Value Accounting; SFAS 115; Basel III; Governing Rules, Regulations, and Reforms; Banks and Banking; Debt Securities; Credit; Risk and Uncertainty; Investment Portfolio; Decision Making; Banking Industry; United States

SSRN

2013
Working Paper

What Makes the Bonding Stick? A Natural Experiment Involving the U.S. Supreme Court and Cross-Listed Firms

By: Amir N. Licht, Christopher Poliquin, Jordan I. Siegel and Xi Li

On March 29, 2010, the U.S. Supreme Court signaled its intention to geographically limit the reach of the U.S. securities antifraud regime and thus differentially exclude U.S.-listed foreign firms from the ambit of formal U.S. antifraud enforcement. We use this legal... View Details

Keywords: Crime and Corruption; International Finance; Investment; Corporate Governance; Governing Rules, Regulations, and Reforms; Courts and Trials; Legal Liability; United States

SSRN

2010
Working Paper

A Behavioral Model of Demandable Deposits and Its Implications for Financial Regulation

By: Julio J. Rotemberg

A model is developed that rationalizes contracts that give depositors the right to obtain funds on demand even when depositors intend to use these funds for consumption in the future. This is explained by depositor overoptimism regarding their own ability to collect... View Details

Keywords: Banks and Banking; Insurance; Governing Rules, Regulations, and Reforms; Policy; Consumer Behavior; Financial Services Industry

February 2020 (Revised June 2020)
Case

Shaping the Governance Debate at ISS

By: Suraj Srinivasan, Jonah S. Goldberg and Calvin O. Liou

ISS is the world’s largest provider of corporate governance research, data, analytics, and voting services. The case uses the effort of the Securities and Exchange Commission (SEC) to impose an array of new regulations that would severely restrict the functioning of... View Details

Keywords: Proxy Advisory Services; Corporate Governance; Research; Investment; Governing Rules, Regulations, and Reforms; Business and Shareholder Relations; Institutional Investing