Publications

Educators

Research Summary

Experiments in Financial Democracy: Corporate Governance and Financial Development in Brazil, 1882-1950 (BOOK)

In my first book manuscript, Experiments in Financial Democracy, I challenge the idea that it was colonial institutions that sent Brazil, a civil law country, down a particular path of corporate governance and finance. Detailed archival research reveals... View Details

2015
Book

Political Standards: Corporate Interest, Ideology, and Leadership in the Shaping of Accounting Rules for the Market Economy

By: Karthik Ramanna

There are certain institutions underlying our modern market-capitalist system that are largely outside the interest and understanding of the general public—e.g., rulemaking for bank capital adequacy, actuarial standards, accounting standards, and auditing practice. In... View Details

Keywords: Business And Society; Financial Institutions; Financial Reporting; GAAP; IFRS; Lobbying; Capitalism; Sustainability; Accounting; Finance; Business and Government Relations; Leadership; Financial Services Industry; Financial Services Industry; United States; China; India

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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HBS - Financials | From the Chief Financial Officer

Consolidated Balance Sheet Supplemental Financial Information From the Chief Financial Officer For Harvard Business School, fiscal 2023 marked a year of innovation and strong View Details

21 Jul 2010
Research & Ideas

HBS Faculty Debate Financial Reform Legislation

across the financial system if they failed (think Lehman). Financial institutions that pose such a threat are the financial equivalent of nuclear... View Details

Keywords: by Staff

2016
Book

Institutions, Institutional Change and Economic Performance in Emerging Markets

By: Lakshmi Iyer

Emerging markets play an increasingly important role in the global economy, accounting for 31% of global GDP and more than 50% of global foreign direct investment in 2012. However, doing business in emerging markets remains subject to a high degree of "policy risk,"... View Details

Keywords: Property Rights; Economic Policy; Political Economy; Emerging Markets; Economic Growth; Government and Politics; Business and Government Relations

Web

ICIC - Institute For Strategy And Competitiveness

to capital providers Guide financial institutions to new investment opportunities and some of the world's fastest-growing companies Identify critical factors for economic growth in urban environments and... View Details

29 Sep 2008
Research & Ideas

Financial Crisis Caution Urged by Faculty Panel

oversight of the financial system. To be sure, there's been a lot of discussion about oversight of Secretary Paulson, and that's a compelling objective. But we haven't seen nearly as much discussion about what this bailout means in terms... View Details

Keywords: by Martha Lagace; Financial Services

2014
Article

Corporate Governance and the Financial Crisis in Italy

By: Dante Roscini

The financial crisis hit Italy harder than many other Eurozone countries. In part this was due to the fact that the crisis came upon a system that was weakened by years of sub-par economic growth. One of the several endogenous factors that explain the stagnation of the... View Details

Keywords: Financial Crisis; Corporate Governance; Italy; European Union

19 Feb 2019
News

Bank Boards: What Has Changed Since the Financial Crisis?

Teaching Interest

Information in Financial Markets (Econ 970, Spring 2016)

Second-year undergraduate course covering various aspects of information propagation in financial markets. The course is divided into four units. We begin by covering canonical pricing anomalies that illustrate the importance of information distribution and... View Details

October 2018 (Revised January 2019)
Case

The Financial Crisis: Timothy Geithner and the Stress Tests

By: Samuel G. Hanson, Robin Greenwood, David Scharfstein and Adi Sunderam

In February and March 2009, the U.S. economy was in the midst of a terrifying financial and economic crisis. Between the beginning of 2008 and early 2009, four of the 25 largest U.S. financial institutions had failed, and nine of these 25 institutions had taken... View Details

Keywords: Bailout; Regulation; Stress Test; Financial Crisis; History; Economy; Policy; Governing Rules, Regulations, and Reforms; Decision Making; Financial Services Industry; Financial Services Industry; Financial Services Industry; United States

Educators

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CSV Explained - Institute For Strategy And Competitiveness

affordable housing and financial security, and other key measures of societal wellbeing. Only business can create economic prosperity by meeting needs and making a profit, creating infinitely scalable and self-sustaining solutions . Key... View Details

Web

Strategy Explained - Institute For Strategy And Competitiveness

the other hand, is the basis of a sound business strategy that leads to a positive-sum competition with multiple winners. Setting the Right Financial Goals Managers should also think about setting proper View Details

Web

Admissions & Financial Support - Doctoral

Admissions & Financial Support Your Journey Starts Now Application Requirements HBS admits a talented class of intellectually curious applicants from diverse backgrounds every year. We search for individuals who want to influence the... View Details

March 1990
Case

Chase Manhattan Bank (E): The Institutional Bank

By: Benson P. Shapiro

Keywords: Banks and Banking; Banking Industry

October 2008
Case

Financial Crisis in Asia: 1997-1998 (Abridged)

By: Huw Pill, Rafael M. Di Tella and Jonathan Schlefer

What caused the 1997-98 Asia Crisis: Asian nations' poor economic management, international financial contagion, close "crony" relations between local politicians and capitalists? This case examines how the crisis erupted in Thailand and spread in a chain of events... View Details

Keywords: Developing Countries and Economies; Financial Crisis; Ethics; Financial Institutions; Financial Management; Governing Rules, Regulations, and Reforms; Business and Government Relations; Asia

Educators

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2018 Financial Risk and Regulation Survey - Behavioral Finance & Financial Stability

Schillers website Consistent with their positive views on the effectiveness of the bank-focused regulation passed since 2008, discussed below, participants rated banks as only moderately likely to be at the center of a financial crisis... View Details

February 2002 (Revised September 2002)
Case

Competition in Japanese Financial Markets, 2002

By: Tarun Khanna and Louis P. DiLorenzo, Jr

In early 2002, Japan, the world's largest economy, had been mired in a decade-long recession. A range of stimulus packages had failed to work their magic. The "Big Bang" financial deregulation reforms announced in 1998 had not quite produced the economic boom that the... View Details

Keywords: Risk and Uncertainty; Competition; Investment Banking; Financial Markets; Globalization; Financial Crisis; Commercial Banking; Banking Industry; Japan