Publications

March 2009 (Revised October 2011)
Supplement

UBS and Auction Rate Securities (B)

By: Daniel Baird Bergstresser, Shawn A. Cole and Siddharth Bhaskar Shenai

Supplement to 209119 View Details

Keywords: Debt Securities

01 Apr 2019
What Do You Think?

Does Our Bias Against Federal Deficits Need Rethinking?

thinking. As Bowles puts it, “I’m confident many Americans will wonder why didn’t those old guys make some of these tough decisions 20 to 30 years ago.” Michael A. Peterson, president of the Peter G. Peterson Foundation, still believes the federal View Details

Keywords: by James Heskett

Article

The Economic Consequences of Bankruptcy Reform

By: Tal Gross, Raymond Kluender, Feng Liu, Matthew J. Notowidigdo and Jialan Wang

A more generous consumer bankruptcy system provides greater insurance against financial risks but may also raise the cost of credit. We study this trade-off using the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which increased the costs of... View Details

Keywords: Bankruptcy; Bankruptcy Abuse Prevention And Consumer Protection Act; Borrowing and Debt; Credit

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26 Jan 2021
Research & Ideas

A New Way to Cut Credit Card Debt: Pay Off One Purchase at a Time

A novel approach to repaying debt could help consumers free themselves from crushing credit card balances faster, according to new research. Rather than asking borrowers to make payments toward their total balances, Harvard Business... View Details

Keywords: by Kristen Senz; Financial Services

27 Jun 2016
Working Paper Summaries

Fiscal Rules and Sovereign Default

Keywords: by Laura Alfaro and Fabio Kanczuk; Banking

15 May 2007
First Look

First Look: May 15, 2007

http://www.hbs.edu/research/pdf/07-078.pdf Cases & Course MaterialsAid, Debt Relief, and Trade: An Agenda for Fighting World Poverty (A) Harvard Business School Case 707-029 At the 2005 Group of Eight summit, world leaders agreed to... View Details

Keywords: Martha Lagace

06 Nov 2012
First Look

First Look: November 6

entrepreneurs. The results are consistent with intra-section learning, where the close ties between section-mates lead to insights about the merits of business plans. Corporate Ownership Structure and the Choice Between Bank Debt and... View Details

Keywords: Sean Silverthorne

November 2006
Case

Brontes Technologies -- 2005

By: William A. Sahlman and Caroline Perkins

Describes a set of decisions confronting the founders of a company developing a new device for taking three-dimensional pictures of teeth in order to improve dental outcomes. The company needs more money and must choose between raising new equity capital from a venture... View Details

Keywords: Borrowing and Debt; Business Startups; Medical Devices and Supplies Industry

Educators

22 Apr 2014
First Look

First Look: April 22

to European banks, we evaluate a variety of interventions to reduce their vulnerability to fire sales during the sovereign debt crisis. Publisher's link:... View Details

Keywords: Sean Silverthorne

fall 2001
Article

Structuring Loan Syndicates: A Case Study of the Hong Kong Disneyland Project Loan

By: Benjamin C. Esty

Keywords: Groups and Teams; Borrowing and Debt; Entertainment; Hong Kong

June 2013
Article

Are There Too Many Safe Securities? Securitization and the Incentives for Information Production

By: Samuel G. Hanson and Adi Sunderam

We present a model that helps explain several past collapses of securitization markets. Originators issue too many informationally insensitive securities in good times, blunting investor incentives to become informed. The resulting endogenous scarcity of informed... View Details

Keywords: Information; Debt Securities; Financial Crisis

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27 Apr 2020
Working Paper Summaries

Corporate Leadership and Creditor Recovery Rates: Evidence from Executive Gender

Keywords: by Clarissa Hauptmann and Anywhere Sikochi

March 2005 (Revised May 2006)
Case

Buckingham Park

By: Arthur I Segel and Joshua A. Katzin

In September, 2004, Stephen Lebowitz, President of CBL, a $6 billion publicly traded shopping mall real estate investment trust (REIT) with over 70 million square feet, is considering acquiring 170 acres for a new retail development at a racetrack site in Southern New... View Details

Keywords: Buildings and Facilities; Debt Securities; Investment; Real Estate Industry; New Hampshire

Educators

Winter 2013
Article

Fear of Rejection? Tiered Certification and Transparency

By: Emmanuel Farhi, Josh Lerner and Jean Tirole

The sub-prime crisis has shone a harsh spotlight on the practices of securities underwriters, which provided too many complex securities that proved to ultimately have little value. This uproar calls attention to the fact that the literature on intermediaries has... View Details

Keywords: Debt Securities; Corporate Disclosure; Corporate Governance

12 Jul 2011
First Look

First Look: July 12

debt for firms in the vicinity of financial distress. We show that this ruling increased the likelihood of equity issues, increased investment, and reduced firm risk, consistent with a decrease in debt-equity conflicts of interest. The... View Details

Keywords: Carmen Nobel

20 Sep 2016
First Look

September 20, 2016

find that the effects are stronger among innovating Massachusetts firms, particularly those facing greater Wall Street scrutiny. The evidence is consistent with staggered boards improving managers' incentives to make long-term investments. Sovereign View Details

Keywords: Sean Silverthorne

January 1987 (Revised March 1989)
Background Note

Note on the Pricing of Mortgage-Backed Securities

By: Jay O. Light and Jeremy C. Stein

An introduction to mortgage-backed securities, prepayment risk, and their market pricing. View Details

Keywords: Price; Debt Securities; Mortgages; Financial Services Industry

March 2018 (Revised January 2019)
Case

The TARP Bailouts: Saving the Banking and Automotive Industries

By: Kristin Mugford

Comparison of the U.S. Government response, using the $700 billion TARP fund, to downturns in the banking and auto industries during the global financial crisis. View Details

Keywords: Bailout; Financial Crisis; Borrowing and Debt; Banks and Banking; Government and Politics; Debt Securities; Government Legislation; Public Opinion; Auto Industry; Banking Industry; United States

Educators