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  • 02 Feb 2010
  • First Look

First Look: Feb. 2

and Finance (forthcoming). (Also Harvard Business School Working Paper No. 05-053 and NBER Working Paper No. 13131.) Abstract The main arguments in favor of and against nominal and indexed debt are the incentive to default through... View Details
Keywords: Martha Lagace
  • 14 Apr 2015
  • First Look

First Look: April 14

Hellenic Bottling Company) and the role of regulation in integrated reporting (Anglo-American). April 2015 American Economic Review: Papers and Proceedings Real Effects of Relational Contracts By: Henderson, Rebecca, Steven Blader, Andrea... View Details
Keywords: Sean Silverthorne
  • 22 Apr 2014
  • First Look

First Look: April 22

more profitable lending, their power is muted by both deferred compensation and the limited liability typically enjoyed by credit officers. Second, we present direct evidence that incentive contracts distort judgment and beliefs, even... View Details
Keywords: Sean Silverthorne
  • 19 Apr 2016
  • First Look

April 19, 2016

link: https://www.hbs.edu/faculty/Pages/item.aspx?num=50837 Covenant-Light Contracts and Creditor Coordination By: Becker, Bo, and Victoria Ivashina Abstract—In 2015, 70% of newly issued leveraged loans had weaker enforcement features,... View Details
Keywords: Sean Silverthorne
  • 03 Mar 2008
  • First Look

First Look: March 4, 2008

Vayanos Abstract We examine empirically how the maturity structure of government debt affects bond yields and excess returns. Our analysis is based on a theoretical model of preferred habitat in which clienteles with strong preferences... View Details
Keywords: Martha Lagace
  • 22 Feb 2011
  • Research & Ideas

The Most Important Management Trends of the (Still Young) Twenty-First Century

psychological contract between themselves and employers. They work to make a living, but also they aspire to find purpose and meaning in what they do. We in the academy have much intellectual capital to develop to help organizations... View Details
Keywords: by Sean Silverthorne
  • 17 Jul 2023
  • Blog Post

From the Panelists: Toward a Decarbonized Future: Who Pays? Who Profits?

knew this was true in the debt part of the capital stack but sounds like it is true in the equity stack as well.” Revisiting these panelists’ content, the HBS audience heard loud and clear the $9 trillion per year price tag for climate... View Details
  • 16 May 2017
  • First Look

First Look at New Ideas and Research, May 16

no legal duty to protect or serve the companies whose shares they own; they are shielded by the doctrine of limited liability from legal responsibility for those companies’ debts and misdeeds; they may buy and sell shares without... View Details
Keywords: Re: Multiple Faculty
  • 29 Apr 2019
  • Research & Ideas

Is the Digital Age Making Us Petty?

With the rise of mobile payment apps like Venmo, many people can easily record the exact charges incurred by a lunch partner and pay back debts to the cent. They see themselves as efficient and fair. Others often have a different word for... View Details
Keywords: by Kristen Senz
  • 22 Apr 2015
  • Op-Ed

Reforming Greece: Myths and Truths

were unable to provide new loans to underwrite company growth. “The recessionary measures that were taken in Greece were not the cause of the crisis.” Even large companies that could ordinarily rely on public equity or debt markets... View Details
Keywords: by George Serafeim
  • 01 Aug 2017
  • First Look

First Look at New Research and Ideas, August 1

July 31, 2017 AIDS A Commitment Contract to Achieve Virologic Suppression in Poorly Adherent Patients with HIV/AIDS By: Alsan, Marcella, John Beshears, Wendy S. Armstrong, James J. Choi, Brigitte C. Madrian, Minh Ly T. Nguyen, Carlos Del... View Details
Keywords: Sean Silverthorne
  • 04 Oct 2007
  • What Do You Think?

Has Managerial Capitalism Peaked?

private equity management were oversold companies taken over by private equity groups have been stripped of their assets and hold unsustainable debt burdens." Gerald Nanninga, in lamenting the decline of "emotional... View Details
Keywords: by Jim Heskett
  • 08 Oct 2012
  • Research & Ideas

The Immigrants Who Built America’s Financial System

As today's fiscal deficit and dragging economy continue to cast long shadows, it's easy to forget much darker times in American history. Shortly after winning its independence from Great Britain, the United States was bankrupt. Individual states weren't required to... View Details
Keywords: by Julia Hanna; Financial Services; Banking
  • 08 Jul 2008
  • First Look

First Look: July 8, 2008

http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=208088 Collateralized Debt Obligations (CDOs) Harvard Business School Note 208-113 This lesson integrated Merton's (1974) contingent claims model of View Details
Keywords: Martha Lagace
  • 31 Jan 2012
  • First Look

First Look: Jan. 31

duties in firms incorporated in that state. This change limited managers' incentives to take actions favoring equity over debt for firms in the vicinity of financial distress. We show that this ruling increased the likelihood of equity... View Details
Keywords: Sean Silverthorne & Carmen Nobel
  • 13 Sep 2011
  • First Look

First Look: September 13

capital flows—both debt and equity—into public and private components and study their relationship with productivity growth. This exercise reveals that international capital flows are mainly shaped by government decisions and sovereign to... View Details
Keywords: Sean Silverthorne
  • 01 Mar 2016
  • First Look

March 1, 2016

sentiment proxies indicate that credit risk is aggressively priced, this tends to be followed by a subsequent widening of credit spreads, and the timing of this widening is, in turn, closely tied to the onset of a contraction in economic... View Details
Keywords: Sean Silverthorne
  • 27 Jan 2009
  • First Look

First Look: January 27, 2009

Carbonell-Nicolau and Diego Comin Publication:Journal of Quantitative Analysis in Sports (forthcoming) Abstract This paper designs and implements an empirical test to discern whether the parties to a contract are able to commit not to... View Details
Keywords: Martha Lagace
  • 24 Oct 2006
  • First Look

First Look: October 24, 2006

paper, we examine the impact of the AIDS epidemic on African nations through 2002 using the male circumcision rate to identify plausibly exogenous variation in HIV prevalence. Medical researchers have found significant evidence that male circumcision can reduce the... View Details
Keywords: Sean Silverthorne
  • 26 Sep 2017
  • First Look

First Look at New Research and Ideas, September 26, 2017

connected than oneself was associated with more friendship formation. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=53066 Lessons Unlearned? Corporate Debt in Emerging Markets By: Alfaro, Laura, Gonzalo Asis, Anusha... View Details
Keywords: Sean Silverthorne