Publications

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Initiatives & Projects - Faculty & Research

difference in the world. Behavioral Finance and Financial Stability The Behavioral Finance and Financial Stability Project supports research collaborations across Harvard University to understand, predict,... View Details

04 Apr 2000
Research & Ideas

The Right Way to Restructure Conglomerates in Emerging Markets

Western corporate strategies have long been held up as role models for businesses in emerging markets. The reaction to recent financial crises in Asia and Latin America has only served to reinforce this practice. The multilateral View Details

Keywords: by Tarun Khanna & Krishna Palepu

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Browse All Articles, Research, & Case Studies - HBS Working Knowledge

Eisenhower, and Robert McNamara. 08 Nov 2024 Op-Ed How Private Investors Can Help Solve Africa's Climate Crisis by John Macomber Africa faces escalating climate risks that threaten its people and businesses. While governments and development finance View Details

September 2024
Case

InfraCredit and the Project Inception Facility

By: John Macomber, Namrata Arora and Maagatha Kalavadakken

Around the world, large infrastructure projects are frequently stymied by the high cost and high uncertainty of the project inception phase: the research and engineering and planning prior to financial close and start of construction. Could there be a new kind of... View Details

24 Feb 2015
First Look

First Look: February 24

Publications February 2015 University of Chicago Press Political Standards By: Ramanna, Karthik Abstract—There are certain institutions underlying our modern market-capitalist system that are largely outside the interest and... View Details

Keywords: Sean Silverthorne

Article

The Value of Trading Relations in Turbulent Times

By: Marco Di Maggio, Amir Kermani and Zhaogang Song

This paper investigates how dealers’ trading relations shape their trading behavior in the corporate bond market. Dealers charge lower spreads to dealers with whom they have the strongest ties and more so during periods of market turmoil. Systemically important dealers... View Details

Keywords: OTC Markets; Network; Corporate Bonds; Crisis; Intermediation Chains; Leaning Against The Wind; Networks; Bonds; Behavior; Financial Crisis

Find at Harvard

2016
Working Paper

The Attenuating Effect of Banking Relationships on Credit Market Disruption

By: Stefan Dimitriadis and Mike Horia Teodorescu

This article examines how the relationship between banks and corporations moderates the effect of credit market disruptions. The 2008-09 financial crisis led to a dramatic restriction in the supply of credit to corporations via the syndicated loan market... View Details

Keywords: Banks and Banking; Relationships; Financial Markets; System Shocks; Banking Industry; United States

12 Oct 1999
Research & Ideas

Where Main Street Meets Wall Street

For Boston, whose history is better known for its midnight rides and tea parties with attitude, this was, by comparison, a low-key moment. On a slow July day in 1924 in the Hub's financial district, a new investment product was quietly... View Details

Keywords: by Garry Emmons; Financial Services

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Overview - Doctoral

management, markets, finance, and organizations. Our doctoral students benefit from resources that are unmatched by any other school, including access to first-class research facilities , a generous fellowship and living stipend , and additional View Details

April 2009 (Revised March 2011)
Case

Dave and Millie: A Tale of Two Entrepreneurs

By: G. Felda Hardymon and Ann Leamon

Two entrepreneurs have just been told by their venture capital backer to prepare a list of possible cuts to help them weather the 2008–2009 economic downturn. The impact on each firm is very different: one is a later-stage company with revenues in excess of $100... View Details

Keywords: Business Growth and Maturation; Business Startups; Decision Choices and Conditions; Financial Crisis; Entrepreneurship; Venture Capital; Cost Management; Growth and Development Strategy

April 2002 (Revised March 2006)
Background Note

Economics of Retail Banking Note

By: Frances X. Frei and Dennis Campbell

Explains the financial operations of retail banking, highlighting profitability challenges facing the industry. For U.S. banks, it is quite common for more than half of the customer base to be unprofitable and to have relatively few customers make up the vast majority... View Details

Keywords: Customers; Economics; Cost; Banks and Banking; Profit; Revenue; Service Operations; Banking Industry; United States

February 2004
Case

Czech Mate: CME and Vladimir Zelezny (A)

By: Mihir A. Desai, Alberto Moel and Kathleen Luchs

This case examines how insiders can expropriate value from shareholders in emerging markets when property rights are ill-defined. As such, it provides a platform for considering how institutions and legal rules impact financing patterns and economic outcomes. CME,... View Details

Keywords: Developing Countries and Economies; Fairness; Financial Institutions; Corporate Governance; Rights; Ownership Stake

August 2004 (Revised July 2005)
Case

Allianz (D1): The Turnaround

By: Joseph L. Bower, Anders Sjoman and Sonja Ellingson Hout

Examines the acquisition of Dresdner Bank by Allianz--the deal of the year in 2002. Examines some of the challenges posed by the turnaround of Dresdner as seen by Michael Diekmann, the new CEO of Allianz. In working with Dresdner, Allianz needed to figure out what it... View Details

Keywords: Acquisition; Financial Institutions; Investment Banking; Brands and Branding; Product Development; Organizational Structure; Problems and Challenges