Publications

11 Feb 2015
News

Politicians Received Political Benefit From Supporting Toxic Loans

2020
Working Paper

How ESG Issues Become Financially Material to Corporations and Their Investors

By: George Serafeim

Management and disclosure of environmental, social and governance (ESG) issues have received substantial interest over the last decade. In this paper, we outline a framework of how ESG issues become financially material, affecting corporate profitability and valuation.... View Details

SSRN

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February 2024
Teaching Note

Fusion Industry Association: Igniting the Future of Clean Energy

By: Kyle Myers, Joshua Lev Krieger, Walter Frick and Jim Matheson

Teaching Note for HBS Case No. 624-064. This Teaching Note explores the Fusion Industry Association's efforts to advance commercial fusion energy, highlighting challenges in innovation, regulation, market structure, and financing within the emerging technology sector... View Details

Keywords: Financing and Loans; Governing Rules, Regulations, and Reforms; Technological Innovation; Industry Growth; Energy Industry

October 2010
Case

Narragansett Brewing Company

By: Tom Nicholas, Lindsey Marshall and Charles Anthony Miller

Mark Hellendrung, CEO of Narragansett Brewing Company, is deciding whether to partner with a local television station for the upcoming NHL Winter Classic outdoor hockey game between New England's own Boston Bruins and the Philadelphia Flyers at Fenway Park. He had... View Details

Keywords: Corporate Entrepreneurship; Business Startups; Business Strategy; Sports; Financial Strategy; Marketing Strategy; Investment; United States

January 2024
Article

Investing with the Government: A Field Experiment in China

By: Emanuele Colonnelli, Bo Li and Ernest Liu

We study the demand for government participation in China’s venture capital and private equity market. We conduct a large-scale, non-deceptive field experiment in collaboration with the leading industry service provider, through which we survey both capital investors... View Details

Keywords: Venture Capital; Private Equity; Business and Government Relations; Entrepreneurship; China

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July 2012 (Revised July 2012)
Case

The Madera Ranch and Water Bank

By: Andre F. Perold and Geoffrey Bernstein

The protagonist is trying to decide whether to purchase and develop an aquifer lying beneath rural land near Fresno, California. The project could fill a void for local farmers as well as surrounding municipalities and a variety of other customers throughout... View Details

Keywords: Investment; Assets; Decision Making; Agriculture and Agribusiness Industry; California

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

June 2014
Article

Frictions in Shadow Banking: Evidence from the Lending Behavior of Money Market Funds

By: Sergey Chernenko and Adi Sunderam

We document the consequences of money market fund risk taking during the European sovereign debt crisis. Using a novel data set of security-level holdings of prime money market funds, we show that funds with large exposures to risky Eurozone banks suffered significant... View Details

Keywords: Money Market Mutual Funds; European Sovereign Debt Crisis; Runs; Contagion; Risk Taking; Investment Funds; Financial Crisis; Europe

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28 Jan 2008
Research & Ideas

Billions of Entrepreneurs in China and India

villages, small towns, and major cities, often with a sizable amount of investment or involvement by local government authorities. It is hard to find any reasonably sized Chinese company in which View Details

Keywords: by Martha Lagace

June 2013
Teaching Plan

Citigroup-Wachovia-Wells Fargo

By: Guhan Subramanian and Charlotte Krontiris

This case follows the events of a crucial week in the 2008 financial crisis, when the federal government orchestrated the sale of Wachovia Bank first to Citigroup and then, in a surprise move, to Wells Fargo. We examine the extraordinary relations between government... View Details

Keywords: Citigroup; Wachovia; Wells Fargo; FDIC; Acquisition; Financial Crisis; Banks and Banking; Business and Government Relations; Banking Industry; United States

June 1990 (Revised August 1990)
Supplement

Sun Microsystems, Inc.--1987 (B)

By: Carliss Y. Baldwin

Describes a specific opportunity to seek financing from AT&T as part of a proposed technological joint venture. Students must consider the price paid and control rights attached to a large block of shares and outline a negotiating position for each side. View Details

Keywords: Joint Ventures; Stock Shares; Financing and Loans; Price; Governance Controls; Rights; Negotiation; Opportunities; Computer Industry

March 2013
Case

Currency Wars

By: Laura Alfaro and Hilary White

In February 2013, the G-20 finance ministers met in Moscow, Russia to discuss the rising anxieties over a potential international currency war. It was speculated that certain countries were purposely devaluing their currencies in order to improve their competitiveness... View Details

Keywords: Currency; Competitiveness; Trade Policy; Devaluation; Exchange Rate; Monetary Policy; Quantitative Easing; Inflation Targeting; Capital Flows; Central Banking; Currency Exchange Rate; Competitive Strategy; Emerging Markets; Policy; Trade; Conflict and Resolution; Banking Industry; Public Administration Industry; Moscow

06 Nov 2008
Op-Ed

Selling Out The American Dream

dreams. But these same politicians are consistently unwilling to raise taxes when required. The massive budget deficits run up during the last eight years of war (now projected at 3.8 percent of GDP in 2009) reflect a Federal government... View Details

Keywords: by John Quelch

October 2003 (Revised January 2004)
Case

The 2001 Crisis in Argentina: An IMF-Sponsored Default? (A)

By: Rafael M. Di Tella and Ingrid Vogel

At the end of 2001, Argentina's economy and society both appeared on the verge of collapse. Furious about controls imposed on the convertibility of their bank deposits into cash (the "corralito") and huge proposed government spending cuts amidst high unemployment and... View Details

Keywords: Financial Crisis; Economic Slowdown and Stagnation; Banks and Banking; Problems and Challenges; Decision Choices and Conditions; Currency Exchange Rate; Economy; Government Administration; Crime and Corruption; Argentina

13 Apr 2020
Research & Ideas

Small Businesses Are Worse Off Than We Thought

School of Business, to craft the survey and analyze responses. “Firms today are very lean and cash-strapped.” The survey captured a snapshot of the pandemic’s impact on small businesses, including business owners’ perceptions about their prospects for survival and how... View Details

Keywords: by Kristen Senz; Financial Services

August 2010 (Revised March 2012)
Supplement

The Dow Acquisition of Rohm and Haas (D)

By: Jay W. Lorsch and Melissa Barton

Dow's board and management team worked on arranging appropriate financing to complete the acquisition of Rohm and Haas. Meanwhile, the board of Rohm and Haas filed suit against Dow after it delayed the completion of the acquisition. View Details

Keywords: Mergers and Acquisitions; Financing and Loans; Governing and Advisory Boards; Lawsuits and Litigation; Management Teams; Chemical Industry