Publications

September 1992 (Revised March 1993)
Case

Empresas ICA and the Mexican Road Privatization Program

By: Willis M. Emmons III and Monica Brand

Mexico's largest construction company, Empresas ICA, makes an initial public offering to international equity investors in April 1992 to help fund its participation in an ambitious new private-sector approach to highway development. Under the new program, launched by... View Details

Keywords: Construction; Transportation Networks; Infrastructure; Privatization; Private Equity; Investment; Initial Public Offering; Private Sector; Government and Politics; Policy; Construction Industry; Mexico

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April–May 2024
Article

Gone with the Big Data: Institutional Lender Demand for Private Information

By: Jung Koo Kang

I explore whether big-data sources can crowd out the value of private information acquired through lending relationships. Institutional lenders have been shown to exploit their access to borrowers’ private information by trading on it in financial markets. As a shock... View Details

Keywords: Analytics and Data Science; Borrowing and Debt; Financial Markets; Value; Knowledge Dissemination; Financing and Loans

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01 Mar 2003
News

Student Snapshot

Second-year student Carlin (“Carly”) Janson divides her time between studying at HBS and managing the Catalyst Alliance for Social Entrepreneurship (Catalyst Alliance), the Cambridgebased social enterprise consultancy she founded while... View Details

Keywords: Nancy O. Perry; Catalyst Alliance; Management, Scientific, and Technical Consulting Services; Professional Services

2023
Working Paper

When Should Public Programs Be Privately Administered? Theory and Evidence from the Paycheck Protection Program

By: Alexander Bartik, Zoë B. Cullen, Edward L. Glaeser, Michael Luca, Christopher Stanton and Adi Sunderam

What happens when public resources are allocated by private companies whose objectives may be imperfectly aligned with policy goals? We study this question in the context of the Paycheck Protection Program (PPP), which relied on private banks to disburse aid to small... View Details

Keywords: Paycheck Protection Program; Targeting; Impact; Entrepreneurship; Health Pandemics; Small Business; Financing and Loans; Outcome or Result; United States

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International Students - MBA

with, anyone on the Specially Designated Nationals List. All applicants from these countries are strongly cautioned to be prepared to make their own financial arrangements to attend HBS. LOANS FOR INTERNATIONAL View Details

November 2003 (Revised March 2006)
Case

Dow Chemical's Bid for the Privatization of PBB in Argentina

By: Mihir A. Desai and Alexandra de Royere

What price should Dow Chemical bid for PBB, a petrochemical complex that is being privatized by the Argentine government? To answer this question, students are forced to consider the role of country risk, the underlying currency exposure of the business, and how to... View Details

Keywords: Bids and Bidding; Privatization; Credit Derivatives and Swaps; Cash Flow; Emerging Markets; Valuation; Business and Government Relations; Multinational Firms and Management; Risk and Uncertainty; Energy Industry; Argentina

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Domestic Students - MBA

Information RISE Career Fellowship We expect that most students will take out a loan to fund their MBA, in combination with fellowship awards, external scholarships, and savings. Domestic View Details

October 2013 (Revised December 2013)
Teaching Note

Blackstone and the Sale of Citigroup's Loan Portfolio Teaching Note

By: Victoria Ivashina and David Scharfstein

Keywords: Derivatives; Bankruptcy; Credit Derivatives and Swaps; Private Equity; Restructuring; Insolvency and Bankruptcy; Banks and Banking; Banking Industry; Financial Services Industry

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International Students - MBA

External Funding International Students Tuition Assistance Additional Harvard Funding External Funding Online Resources Women Minority Students International Students Veterans... View Details

October 2024
Case

Ranger Energy Services: Bridging Public & Private Markets

By: Joseph Pacelli, Ravi Ramniklal Gondalia and James Weber

In August of 2017, CSL Capital, a private equity fund founded and operated by Charlie Leykum (HBS’04), was deciding to take one of its portfolio companies, Ranger Energy Services, public. Founded in 2014, Ranger Energy was an oilfield service company providing... View Details

Keywords: Entrepreneurship; Initial Public Offering; Financial Strategy; Valuation; Energy; Financial Services Industry; Energy Industry; United States

Spring 2012
Article

The Roadmap for Private Equity, Venture Capital and Hedge Funds in Mexico: Alternative Assets as an Accelerator of Credit to Firms in Emerging Markets

By: Roberto Charvel

This article shows how alternative assets could be a good way for banks to start providing more loans to firms in emerging markets and finance growth, while giving local institutional investors access to new asset types. View Details

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Minority Students - MBA

External Funding Minority Students Tuition Assistance Additional Harvard Funding External Funding Online Resources Women Minority Students International Students Veterans New... View Details

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Private Equity Finance - Course Catalog

equity and buyouts, also touching on closely related investing strategies such as distress and private debt. Students will examine a wide variety of investment settings: from lower middle market companies to... View Details

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Student Journey - Entrepreneurship

Schedule office hours with the i-lab Team. What sources of funding are there? HBS offers several funding sources for students and their startups in various stages of development. They include: Rock / Social Enterprise Summer Fellows Rock... View Details

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First-Generation Students - MBA

my grandmother’s feet as she recounted lessons she learned throughout her life gave me the sense I could pretty much do anything. MY HBS STUDENT LOAN STORY: GORICK NG (MBA 2018) Gorick Ng 06 JAN 2021 |... View Details

January 2009
Case

Xi'an International University: The Growth of Private Universities in China

By: William C. Kirby, Michael Shih-ta Chen, Keith Chi-ho Wong and Tracy Manty

Huang Teng founded Xi'an International University (XAIU) as a private institute of higher education in 1992. Throughout its ensuing years, the school filled a niche and met the demand of students who did not test into one of China's public institutions. In 2008, it was... View Details

Keywords: Higher Education; Growth and Development Strategy; Private Ownership; Expansion; Education Industry; China

January 2021 (Revised March 2021)
Supplement

Juno (B): Leveraging Student Power

By: Joshua Schwartzstein, Kathleen L. McGinn and Amy Klopfenstein

In March 2020, Juno co-founders Chris Abkarians and Nikhil Agarwal decided to pitch banks in anticipation of their annual auction while negotiating directly with private lender Eager. Responses from the majority of private lenders—including Juno’s 2019 partner—were not... View Details

01 Jul 2015
Research & Ideas

A Bank That Takes Parmesan as Collateral: The Cheese Stands a Loan

that farmers have access to credit lines. However, it's understandable why lenders might hesitate to grant loans to the cheese producers. Trichakis explains that farms are essentially small- and medium-sized enterprises, helmed by farmers... View Details

Keywords: by Carmen Nobel; Banking; Food & Beverage

December 2016
Case

Public Mission, Private Funding: The University of California, Berkeley

By: William C. Kirby and Joycelyn W. Eby

UC Berkley, long known as one of the leading public universities in both the U.S. and the world, has seen turbulent times recently. While student enrollment and costs have increased steadily in recent years, the school, which has been fiercely proud of its public... View Details