Publications

24 Dec 2013
First Look

First Look: December 24

alternative financing models of corporate lenders, including banks and finance companies.) The second major component of the case concerns distressed debt investment strategies... View Details

Keywords: Carmen Nobel

14 Jun 2016
First Look

of the Private Capital Research Institute By: Lerner, Josh, and Leslie Jeng Abstract—Private markets are becoming an increasingly important way of financing rapidly growing and mature firms, and private investors are reputed to have... View Details

Keywords: Sean Silverthorne

February 1998 (Revised October 2002)
Case

Uganda and the Washington Consensus

By: Huw Pill and Courtenay Sprague

Under the direction of President Museveni, much of the world has heaped praise on Uganda for transforming its economy from devastation to growth and managing the ethnic and racial strife that has divided the country in the past. Following a decade of reforms, Uganda is... View Details

Keywords: Macroeconomics; Economy; Policy; Analysis; Development Economics; Borrowing and Debt; Management; Developing Countries and Economies; Uganda

30 Mar 2010
First Look

First Look: March 30

foreign capital may encourage entrepreneurship. We find that entrepreneurial activity is higher in industries that have a large share of foreign firms in vertically linked industries. Second, we find that entrepreneurial activity in industries that are more reliant on... View Details

Keywords: Sean Silverthorne

03 Jun 2021
Blog Post

HBS Pilots First Impact Investing Fund

DAF enables the fund to accept donations and disburse the capital in a number of different ways. As part of the diligence process, deal teams establish what type of capital would be most useful to the business, looking beyond traditional View Details

01 Oct 2013
First Look

First Look: October 1

recessions, it is not clear if this is due to demand or supply. We address this question by studying firms' substitution between bank debt and non-bank debt (public bonds) using firm-level data. Any firm... View Details

Keywords: Sean Silverthorne

Web

Bibliography - Option Pricing in Theory & Practice: The Nobel Prize Research of Robert C. Merton - Exhibits - Historical Collections

Robert C. "The Changing Nature of Debt and Equity," discussion. In Are the Distinctions Between Debt and Equity Disappearing? Conference Series #33, edited by R. W. Kopeke and E. S. Rosengren. Federal... View Details

18 Nov 2010
Research & Ideas

GM’s IPO: Back to the Future

management alike. Bondholders received something like 10-to-15 cents in new GM equity on the dollar when the debt had no market value. The unions received a larger share of the equity than some thought their due, but in return they... View Details

Keywords: by Staff; Auto

13 Jul 2009
Research & Ideas

Diagnosing the Public Health Care Alternative

prospective physicians who must incur massive debt for their education reluctantly opt for other occupations in which the government is not their sole source of revenues. A government market with an underpriced Medicare would likely lead... View Details

Keywords: by Staff; Health

21 Dec 2009
Research & Ideas

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

sponsor. In response to the financial crisis, the federal government has substantially increased its intervention into the financial markets. Although such intervention is justified in certain cases, federal guarantees of debt offering... View Details

Keywords: by Roger Thompson; Banking; Financial Services

17 Feb 2010
News

Harrah's CFO Plans a Recovery

Keywords: Amusement, Gambling, and Recreation Industries; Arts, Entertainment

July 2006
Case

Citigroup: Euro Zone Bond Trading (A)

By: Lynn S. Paine, Christopher Bruner and Aldo Sesia

Describes the development and execution of a bond trading strategy by a London-based team of Citigroup eurozone bond traders. The trades, which involved two of Europe's leading electronic trading platforms, gave rise to a European-wide controversy over the traders'... View Details

Keywords: Debt Securities; Financial Markets; Bonds; Ethics; Values and Beliefs; Decision Making; Lawfulness; Business Strategy; Banking Industry; Financial Services Industry; Europe

04 May 2010
First Look

First Look: May 4

facility, under which a number of Lyondell's pre-bankruptcy lenders were allowed to significantly elevate the priority of debts they were already owed (so that they ranked ahead of all other pre-bankruptcy View Details

Keywords: Martha Lagace

04 Feb 2014
First Look

First Look: February 4

government debt is financed by another sovereign and not by private lenders. Our results show that the failure to consider official flows as the main driver of uphill flows and global imbalances is an... View Details

Keywords: Sean Silverthlorne

25 Oct 2004
Research & Ideas

Planning for Surprises

benefit. The area of decision bias has grown as an important lens of analysis in many areas of business, from finance to marketing to negotiations. We also believe that cognitive biases explain why we allow predictable surprises to occur.... View Details

Keywords: by Martha Lagace

17 Apr 2007
First Look

First Look: April 17, 2007

http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=807123 Project Finance Acronyms Harvard Business School Note 207-086 Contains two parts: Part I contains a list of more than 500 acronyms for official institutions and other... View Details

Keywords: Martha Lagace

August 2014 (Revised March 2016)
Case

Thomas Cook Group on the Brink (A)

By: Benjamin C. Esty, Stuart C. Gilson and Aldo Sesia

Harriett Green, the newly appointed CEO of Thomas Cook Group, faces a daunting set of business and financial challenges at the 171-year old UK travel services company. The company has lost almost £600 million in the last three quarters; has seen its stock price fall... View Details

Keywords: Turnaround; Corporate Restructuring; Change Leadership; Female Ceo; Change Management; Communication Strategy; Borrowing and Debt; Cash Flow; Cost Management; Financial Liquidity; Financial Management; Executive Compensation; Leading Change; Crisis Management; Value Creation; Travel Industry; United Kingdom

May 2004 (Revised November 2005)
Case

Turkey: Securing Stability in a Rough Neighborhood

By: Richard H.K. Vietor and Emily Thompson

After suffering years of volatility and crises, Turkey desperately sought macroeconomic and political stability in an ever-worsening region of the world. In the short term, Turkey had to repay its debt, which amounted to more than 80% of GDP. By January 2004, Turkey... View Details

Keywords: Public Sector; Inflation and Deflation; Macroeconomics; Borrowing and Debt; Banks and Banking; International Finance; Privatization; Religion; Turkey; European Union