Debts - Publications - Faculty & Research

09 Jun 2003
Research & Ideas

Around the World of Entrepreneurial Ventures

doesn't have a global perspective on access to resources. Its customers include Wal-Mart, Kmart, and Target; it has 60 percent market share in the U.S. But, like many Korean firms, Jinwoong financed itself with lots of debt from Korean... View Details

Keywords: by Martha Lagace

25 Sep 2007
First Look

First Look: September 25, 2007

cash-flow implications of a venture debt loan, and assess how much additional "runway" (months till cash runs out) the venture debt will provide. Students must also look at the prospective returns... View Details

Keywords: Martha Lagace

November 2020
Supplement

Integrating Beam Suntory (B)

By: David G. Fubini, Rawi Abdelal and David Lane

Supplements (A) case: The spring 2014 acquisition of U.S. alcoholic spirits maker Beam Inc. by Japan’s Suntory Holdings vaulted Suntory from 15th to third-largest international spirits company in the world. Yet Suntory had borrowed nearly the entire $16 billion... View Details

Keywords: Family Business; Communication; Borrowing and Debt; Globalization; Corporate Governance; Governing and Advisory Boards; Retention; Leadership; Supply Chain; Organizational Structure; Ownership; Relationships; Conflict and Resolution; Integration; Value Creation; Food and Beverage Industry; Japan; United States; Chicago

Citation

Purchase

28 Mar 2018
Research & Ideas

Sophisticated Investors May Be Harming Fintech Lending Platforms

Zeng found, is the amount of information available about loan applicants. When platforms share a lot of information about applicants with potential investors—data such as income, debt level, and credit history, and even whether the loan... View Details

Keywords: by Dina Gerdeman; Banking; Financial Services

01 Oct 2001
Research & Ideas

Five Questions for Stuart Gilson

stagnating sales, accounting losses, or a falling stock price. In extreme cases such poor performance may cause the company to default on its debt, resulting in bankruptcy. Restructuring the debt can be difficult and costly, although in... View Details

Keywords: by Sean Silverthorne

December 2010 (Revised March 2011)
Case

The Euro in Crisis: Decision Time at the European Central Bank

By: J. Gunnar Trumbull, Dante Roscini and Diane Choi

This case traces the origins and evolution of the European Central Bank, with attention to its 2010 decision concerning the purchase of Greek sovereign debt. View Details

Keywords: Financial Crisis; Borrowing and Debt; Currency; Central Banking; Financial Management; Sovereign Finance; Policy; Crisis Management; Europe; Greece

Citation

Educators

Purchase

24 Jan 2017
First Look

First Look at New Research: January 24, 2017

net shareholder payouts were offset by net debt issuances and, thus, were effectively recapitalizations rather than firm-shrinking distributions. After excluding marginal debt capital inflows, net... View Details

Keywords: Sean Silverthorne

05 Mar 2013
First Look

First Look: March 5

emerging Asian markets. Paper: http://www.asiabusinessinsights.com/articles.html#sub_articles_E-commerce_in_Asia Issuer Quality and Corporate Bond Returns Authors:Greenwood, Robin, and Samuel G. Hanson Publication:Review of Financial Studies Abstract We show that the... View Details

Keywords: Sean Silverthorne

March 2005
Article

Short- and Long-term Demand Curves for Stocks: Theory and Evidence on the Dynamics of Arbitrage

By: Robin Greenwood

I develop a framework to analyze demand curves for multiple risky securities at extended horizons in a setting with limits-to-arbitrage. Following an unexpected change in uninformed investor demand for several assets, I predict returns of each security to be... View Details

Keywords: Limits To Arbitrage; Event Studies; Demand Curves; Portfolio Choice; Framework; Demand and Consumers; Change; Risk and Uncertainty; Debt Securities; Forecasting and Prediction; Stocks; Assets; Investment Portfolio; System Shocks; Price; Japan

Citation

Find at Harvard

Read Now

15 Jul 2014
First Look

First Look: July 15

The case concerns bidding and negotiations strategies as well as deal structuring issues. In particular, the cross border nature of the investment, a UK firm investing in Norway, leads to a number of financing issues related to raising the View Details

Keywords: Carmen Nobel

25 Jan 2011
First Look

First Look: Jan. 25

disproportionately affect the debt financing costs faced by low credit quality firms. As a result, time-series variation in the average quality of debt issuers may be useful for forecasting excess corporate... View Details

Keywords: Sean Silverthorne

05 Mar 2019
First Look

New Research and Ideas, March 5, 2019

firms lever up, the overall cost of capital falls as leverage increases equity beta, but as debt becomes riskier the marginal benefit of increasing equity beta declines. As a simple theoretical framework predicts, we find that leverage is... View Details

Keywords: Dina Gerdeman

13 Oct 2015
First Look

October 13, 2015

private information with borrowers. When lenders grant debt forgiveness to borrowers, borrowers communicate that information to other borrowers, who are then more likely to strategically default on their own obligations. This strategic... View Details

03 Jun 2014
First Look

First Look: June 3

educational products to primary and secondary schools in the United States. The company planned to file Chapter 11 in order to address its excessive debt load but needed to arrange debtor in possession financing to provide liquidity while... View Details

Keywords: Sean Silverthorne

20 Nov 2012
First Look

First Look: November 20

capacity and new products only when attractive, low-risk opportunities are identified and can be funded internally. The firm's culture of risk aversion extends to financing decisions with a clear preference for equity finance over debt... View Details

Keywords: Sean Silverthorne

29 May 2020
Op-Ed

How Leaders Are Fighting Food Insecurity on Three Continents

COVID-19 is creating unprecedented strains on food security worldwide. The United Nations' World Food Programme warns that the pandemic could almost double the number of people facing food crises in low- and middle-income populations to 265 million by the end of 2020.... View Details

Keywords: by Howard Stevenson and Shirley Spence; Agriculture & Agribusiness

22 Sep 2014
Op-Ed

Online Banks Fill Funding Needs for Small Business

which other online upstarts such as Amazon.com changed retail and Square changed the small business payments business. A few factors account for the rapid growth of the entrants. First, institutional debt and equity investors have been... View Details

Keywords: by Karen Mills; Banking; Financial Services

2010
Working Paper

Regulating for Legitimacy: Consumer Credit Access in France and America

By: J. Gunnar Trumbull

Theories of legitimate regulation have emphasized the role of governments either in fixing market failures to promote greater efficiency or in restricting the efficient functioning of markets in order to pursue public welfare goals. In either case, features of markets... View Details

Keywords: Borrowing and Debt; Credit; Financial Markets; Personal Finance; Governing Rules, Regulations, and Reforms; Business History; Business and Government Relations; Welfare; France; United States

Citation

Read Now

18 Dec 2012
First Look

First Look: December 18

be going off patent, underscored the importance of the BPH opportunity. Purchase this case:http://hbr.org/search/513005-PDF-ENG Can the Eurozone Survive? Roscini, Dante, and Jonathan SchleferHarvard Business School Case 713-034 The sovereign View Details

Keywords: Carmen Nobel