Publications

April 2008 (Revised December 2008)
Case

Leveraged Loans 2007

By: Andre F. Perold and Erik Stafford

The leveraged loan market was in a crisis during the summer of 2007, following many years of low realized volatility (less than 4% per annum), an index of leveraged loans had fallen over 5% in the month of July. A sudden drop in capital market prices for an asset class... View Details

Keywords: History; Financial Liquidity; Investment; Financial Crisis; Market Transactions; Disruption; Decision Choices and Conditions; Competitive Strategy; Capital Markets; Crisis Management; Commercial Banking; Banking Industry; Financial Services Industry

Web

Leadership Execution and Action Planning (LEAP) - Course Catalog

objectives: To enable students to get things done successfully. To understand the risks, trade-offs, and constraints leaders face when tasked with achieving results under conditions where they have limited skills, time, and resources... View Details

14 Apr 2009
First Look

First Look: April 14, 2009

pioneered the business of economic forecasting by publishing a weekly newsletter on economic conditions starting in 1922. The Harvard forecasting model, developed by the... View Details

Keywords: Martha Lagace

05 Sep 2006
First Look

First Look: September 5, 2006

to account for institutional change endogenously. However, this notion faces the paradox of embedded agency. To overcome this paradox, it is necessary to explain under what conditions actors are enabled to act as institutional... View Details

Keywords: Sean Silverthorne

2024
Working Paper

Bank Runs and Interest Rates: A Revolving Lines Perspective

By: Falk Bräuning and Victoria Ivashina

Revolving credit is at the core of the banking business. Corporate revolving credit lines are demandable claims; thus, similar to a traditional bank run on deposits, sudden widespread drawdowns on credit lines can be destabilizing to the banking sector. However, we... View Details

Keywords: Financial Liquidity; Credit; Financial Crisis; Interest Rates; Banks and Banking

SSRN

Spring 2024
Article

The Evolution of Banking in the 21st Century: Evidence and Regulatory Implications

By: Samuel Gregory Hanson, Victoria Ivashina, Laura Nicolae, Jeremy C. Stein, Adi Sunderam and Daniel K. Tarullo

As revealed by the failures of three regional banks in the spring of 2023, bank runs are not a thing of the past. To inform the ongoing discussion of the appropriate regulatory response, we examine trends in the banking industry over the last twenty-five years. On the... View Details

Keywords: Financial Instruments; Financial Crisis; Assets; Governing Rules, Regulations, and Reforms; Financial Condition; Banking Industry

01 Dec 2000
News

Books

business conditions has become an essential CEO survival skill. "The challenge of change has given rise to a CEO labor market that places a premium on a person's track record in leading change," write HBS professors Michael Beer and Nitin... View Details

Keywords: Rogelio Fussa; Publishing Industries (except Internet); Information

01 Oct 2002
News

Banishing Balkan Ghosts

anti-Communist.” When his parents' marriage ended, his university-educated mother was forced to become a seamstress, and Djelic experienced economic deprivation firsthand. But his obvious talents won him admission to elite schools. With... View Details

Keywords: Garry Emmons

February 2000 (Revised March 2001)
Case

Alphatec Electronics Pcl

By: Stuart C. Gilson, C. Fritz Foley and Perry Fagan

The newly appointed CEO of an important high-technology company in Thailand must lead the company through a complicated debt restructuring. Due to the collapse of the Thai currency, the company's debt burden, like that of most Thai companies, has skyrocketed because it... View Details

Keywords: Currency Exchange Rate; Valuation; Management Teams; Restructuring; Laws and Statutes; Insolvency and Bankruptcy; Developing Countries and Economies; Borrowing and Debt; Technology Industry; Electronics Industry; Thailand; United States

19 Jul 2016
First Look

July 19, 2016

of crimes that do not directly steal from the company, and at smaller companies. While economic reasons could explain these associations, we show that gender and frequency of crimes moderate the relation between punishment severity and... View Details

Keywords: Sean Silverthorne

01 Dec 2003
News

Inside MBA Admissions

paperwork. An all-time high of 10,382 applications arrived for the Class of 2004. Dewey characterizes that number as a spike influenced by poor economic conditions that unleashed pentup demand. The... View Details

Keywords: Colleges, Universities, and Professional Schools; Educational Services

November 2006 (Revised August 2012)
Background Note

A Strategic Perspective on Bankruptcy

By: Bill George, Jim Sharpe and Andrew N. McLean

An overview of bankruptcy procedures in U.S. courts, recent filing data and a framework for evaluating a reorganization with creditors or considering opening a court-supervised reorganization under Chapter 11 of the Bankruptcy Code. View Details

Keywords: Bankruptcy; Financial Distress; Turnarounds; Legal Aspects Of Business; Liquidation; Boards Of Directors; Hedge Funds; Strategy; Law; Governing and Advisory Boards; Negotiation; Crisis Management; Policy; Insolvency and Bankruptcy; Credit; Financial Crisis; United States

September 2006 (Revised November 2006)
Supplement

SUN Brewing (A) (CW)

The Khemka family of India--founders, managers, and majority owners of Russia-based SUN Brewing--faces a difficult decision in 1998. Following the ruble's massive devaluation in August 1998, the stock price of SUN brewing, which is publicly listed on the Luxemburg... View Details

Keywords: Financial Crisis; Emerging Markets; Family Business; Financing and Loans; Capital Markets; Decision Choices and Conditions; Food and Beverage Industry; India; Russia