Publications

Benjamin Esty is the Roy and Elizabeth Simmons Professor of Business Administration at Harvard Business School. Over the years, he has taught a variety of courses ranging from advanced corporate finance and project finance to competitive strategy and leadership. He... View Details

Keywords: banking; banking; banking; banking; banking; banking; banking

15 May 2017
Blog Post

Exploring Career Options at HBS

While working in investment banking and e-commerce roles, I realized the importance of interpersonal and leadership skills in successfully growing an organization. My decision to attend business school was largely fueled by my desire to... View Details

15 Aug 2006
First Look

First Look: August 15, 2006

financial markets change the interaction between banks and corporations? This paper compares the importance of interlocking boards of directors between corporations and banks in Brazil, Mexico, and the... View Details

Keywords: Sean Silverthorne

24 Jun 2014
First Look

First Look: June 24

Journal of Law & Economics Deregulation, Misallocation, and Size: Evidence from India By: Alfaro, Laura, and Anusha Chari Abstract—This paper examines the impact of the deregulation of compulsory industrial licensing in India on firm... View Details

Keywords: Sean Silverthorne

10 Nov 2011
Working Paper Summaries

Spatial Determinants of Entrepreneurship in India

Keywords: by Ejaz Ghani, William R. Kerr & Stephen O'Connell

January 1985
Case

Business Research Corp. (A)

By: William A. Sahlman

Contains a description of a decision confronting an entrepreneur: which of two investment proposals should he accept to fund the creation and marketing of a database that comprises the full text of research reports produced by Wall Street investment banking firms? The... View Details

Keywords: Strategy; Cost vs Benefits; Valuation; Investment Banking; Negotiation Participants; Negotiation Deal; Financing and Loans; Financial Strategy; Corporate Finance; Service Industry

Find at Harvard

February 2008 (Revised September 2009)
Case

Lance Johnstone: Developing 3000 North Broad

The case focuses on Lance Johnstone, a former NFL player, who has dabbled in real estate development during his playing career, and now, as a retired player, is trying to pursue the development of a 10-unit rental apartment building in a depressed area of Philadelphia,... View Details

Keywords: Budgets and Budgeting; Development Economics; Construction; Entrepreneurship; Financing and Loans; Investment Return; Urban Development; Real Estate Industry; Philadelphia

Using a large sample of Florida restaurants, we document significant racial disparities in borrowing through the Paycheck Protection Program (PPP) and investigate the causes of these disparities. Black-owned restaurants are 25% less likely to receive PPP loans.... View Details

September 2011 (Revised September 2011)
Case

Perella Weinberg Partners: New Firm, Old Values

By: Clayton S. Rose and Aman Malik

In the five years since it opened its doors, the investment banking boutique Perella Weinberg Partners had grown into a firm that advised a roster of blue-chip clients on critical transactions and had over $8 billion of client assets under management. The three... View Details

Keywords: Cost; Investment Banking; Growth and Development; Compensation and Benefits; Growth and Development Strategy; Market Entry and Exit; Going Public; Banking Industry

21 Dec 2009
Research & Ideas

Good Banks, Bad Banks, and Government’s Role as Fixer

Most books about the nation's financial crisis tell us what happened. In his new book, HBS senior lecturer Robert Pozen tells us how to fix the system. A financial industry veteran and chairman of MFS Investment Management, a Boston firm... View Details

Keywords: by Roger Thompson; Banking; Banking

January 2020
Article

The Job Rating Game: Revolving Doors and Analyst Incentives

By: Elisabeth Kempf

Investment banks frequently hire analysts from rating agencies. While many argue that this "revolving door" creates captured analysts, it can also create incentives to improve accuracy. To study this issue, I construct an original dataset, linking analysts to their... View Details

Keywords: Credit Rating Agencies; Investment Banking; Recruitment; Performance Evaluation; Financial Services Industry

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September 2023 (Revised June 2024)
Case

Kaspi.kz: Building Trust through Innovation

By: Sandra J. Sucher, Fares Khrais and Marilyn Morgan Westner

This case is written to help students explore how companies can maintain and develop trust while innovating, how to identify and respond effectively to warning signs that they may not be as trusted as they believe, and how being trusted can aid in expanding and growing... View Details

Keywords: Growth and Development Strategy; Organizational Culture; Trust; Technology Adoption; Innovation and Invention; Banking Industry

Career Coach

Rahi Patel

Rahi’s pre-MBA professional journey has provided him with invaluable experiences in the investment banking and private equity industries. He enjoys advising students interested in finance and consulting, or who are making career... View Details

30 Nov 2016
Op-Ed

Where Could More Regulation Help Small Businesses? Online Lending.

Our regulatory system has also been an unnecessary albatross on the growth of fintech players and on banks who try to partner with them. No single federal regulator has authority to oversee business lending. Instead, there is a spaghetti... View Details

Keywords: by Karen Mills and Brayden McCarthy; Financial Services

2011
Working Paper

From Counting Risk to Making Risk Count: Boundary-Work in Risk Management

By: Anette Mikes

For two decades, risk management has been gaining ground in banking. In light of the recent financial crisis, several commentators concluded that the continuing expansion of risk measurement is dysfunctional (Taleb, 2007; Power, 2009). This paper asks whether the... View Details

Keywords: Forecasting and Prediction; Financial Crisis; Risk Management; Measurement and Metrics; Organizational Culture; Situation or Environment; Banking Industry

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September 2023 (Revised December 2023)
Case

Twiddy & Company: Trust in a Chaotic Environment

By: Sandra J. Sucher, Shalene Gupta and Tom Quinn

Twiddy & Company, known for Southern hospitality rooted in personal interactions, needed to adjust to contactless remote customer service as fear of the contagious virus prevented person-to-person contact. Local elected officials, in a bid to stop tourists from... View Details

Keywords: Trust; Health Pandemics; Organizational Culture; Disruption; Government Legislation; Transportation; Tourism Industry; North Carolina; United States

August 2014 (Revised March 2015)
Case

Molycorp: Morgan Brothers' Reverse Convertible Notes (C)

By: Benjamin C. Esty and E. Scott Mayfield

In August 2011, Morgan Brothers Bank was issuing a $2.5 million reverse convertible note with payoffs linked to the price of Molycorp's common stock. These financially engineered securities were just one of many kinds of structured notes available in the retail market.... View Details

Keywords: Structured Products; Reverse Convertible Notes; Replication; Option Pricing; Bond Pricing; Financial Engineering; Valuation; Metals and Minerals; Debt Securities; Finance; Investment; Mining Industry; Mining Industry; Canada; California