Publications

Publications

Filter Results: (210) Arrow Down

Show Results For

← Page 5 of 210 Results →
  • September 2015
  • Article

Banks as Patient Fixed-Income Investors

By: Samuel G. Hanson, Andrei Shleifer, Jeremy C. Stein and Robert W. Vishny
We examine the business model of traditional commercial banks when they compete with shadow banks. While both types of intermediaries create safe "money-like" claims, they go about this in different ways. Traditional banks create money-like claims by holding illiquid... View Details
Keywords: Shadow Banking; Safe Money-like Claims; Commercial Banking
Related
  • 10 Jul 2000
  • Research & Ideas

The State of the Markets

Worldwide financial markets are in a period of extraordinary change, as they gear up for more and more volume, work out an assortment of mergers and consolidations, contemplate the reality of 24-hour global trading, adopt new advances in... View Details
Keywords: by James E. Aisner
  • Winter 2013
  • Article

Fear of Rejection? Tiered Certification and Transparency

By: Emmanuel Farhi, Josh Lerner and Jean Tirole
The sub-prime crisis has shone a harsh spotlight on the practices of securities underwriters, which provided too many complex securities that proved to ultimately have little value. This uproar calls attention to the fact that the literature on intermediaries has... View Details
Keywords: Debt Securities; Corporate Disclosure; Corporate Governance
Related

    Krishna G. Palepu

    KRISHNA G. PALEPU is the Ross Graham Walker Professor of Business Administration, and has served previously as Senior Advisor to the President of Harvard University, and Senior Associate Dean at the... View Details

    Keywords: financial services; financial services; financial services; financial services; financial services; financial services
    • May 2009
    • Article

    Asymmetric Information Effects on Loan Spreads

    By: Victoria Ivashina
    The paper estimates the cost arising from information asymmetry between the lead bank and members of the lending syndicate. In a lending syndicate, the lead bank retains only a fraction of the loan but acts as the intermediary between the borrower and the syndicate... View Details
    Keywords: Cost; Banks and Banking; Financing and Loans; Interest Rates; Capital; Investment Portfolio; Credit; Diversification; Risk and Uncertainty
    Related
    • 17 Nov 2009
    • First Look

    First Look: Nov. 17

    and Moritz Schularick Abstract For the better part of the past decade, the world economy has been dominated by a world economic order that combined Chinese export-led development with U.S. over-consumption. The financial crisis of... View Details
    Keywords: Martha Lagace
    • 2016
    • Working Paper

    Credit Migration and Covered Interest Rate Parity

    By: Gordon Y Liao
    I document economically large and persistent discrepancies in the pricing of credit risk between corporate bonds denominated in different currencies. The discrepancies amount to 50-100 basis points on trillions of dollars of debt notional. I relate this violation of... View Details
    Keywords: Market Segmentation; Debt Issuance; Covered Interest Rate Parity; Cross-currency Basis; Credit Risk; Financial Markets; Credit
    Related
    • 23 Nov 1999
    • Research & Ideas

    The Future of the Venture Capital Cycle

    volume have highlighted, much is still not yet known about the venture capital industry. The extent to which the U.S. venture model will spread overseas and the degree to which the American model will — or can — be successfully adapted during this process are... View Details
    Keywords: by Paul A. Gompers & Josh Lerner; Financial Services
    • 24 Mar 2015
    • First Look

    First Look: March 24

    is currently provided by GAAP financial reporting. The purpose of this paper is to examine the optimal design of information intermediaries that can increase the impact of sustainability information on... View Details
    Keywords: Sean Silverthorne
    • Profile

    Lara Hodgson

    large lines of credit – to purchase assets from small businesses. We’ve essentially recreated the intermediary – we’re borrowing, we’re not lending. We don’t lend to small businesses; we buy their assets. So it’s an off balance sheet... View Details
    • Web

    Accounting & Management - Doctoral

    Rouen Yuan Zou Financial intermediaries Joseph Pacelli Clayton S. Rose Adi Sunderam Yuan Zou Financial reporting Brian K. Baik Aiyesha Dey Jonas Heese Joseph Pacelli Ethan C.... View Details
    • Web

    Business Economics - Doctoral

    Forest L. Reinhardt Raffaella Sadun Matthew C. Weinzierl Dennis A. Yao Economic development Shawn A. Cole Tarun Khanna Sophus A. Reinert Meg Rithmire Benjamin N. Roth Entrepreneurial finance Paul A. Gompers Experimental economics Alex Chan View Details

      Ashish Nanda

      Ashish Nanda is Senior Lecturer and C. Roland Christensen Distinguished Management Educator at Harvard Business School. From 2018 to 2021, he was course head for the MBA Required Curriculum course in Strategy. Beginning in 2022, he is teaching an MBA Elective... View Details

      Keywords: financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services
      • 12 Oct 1999
      • Research & Ideas

      Where Main Street Meets Wall Street

      "Consequently, the intermediaries in the financial services industry—the brokers—are really going to be affected. Having said that, however, I believe there will always be people who want personal... View Details
      Keywords: by Garry Emmons; Financial Services
      • Web

      Placement - Doctoral

      Harvard Business School, Post-Doctoral Fellow Dissertation: Essays on the Use of Information in Financial Intermediaries Advisors: Charles C.Y. Wang (Chair), Victoria Ivashina , and Suraj Srinivasan 2022... View Details
      • 29 Jun 2010
      • First Look

      First Look: June 29

      model of financial innovation, in which intermediaries engineer securities with cash flows that investors seek, but modify two assumptions. First, investors (and possibly intermediaries) neglect certain... View Details
      Keywords: Martha Lagace

        Boris Groysberg

        Boris Groysberg is a professor of business administration in the Organizational Behavior unit at the Harvard Business School. Currently, he teaches courses on talent management and leadership in the school's MBA and Executive Education programs. He has won numerous... View Details
        Keywords: asset management; banking; brokerage; information technology industry; investment banking industry; professional services
        • 29 Jan 2007
        • Research & Ideas

        The Business Press Is a Watchdog that Bites

        When tales of financial fraud hit the newsstands, business people and academics usually assume that it was analysts or auditors who brought the wrongdoing to light. Journalists, they believe, are only repeating what they've been told.... View Details
        Keywords: by Martha Lagace; Journalism & News; Publishing

          Helene Hall

          Helene Hall is a doctoral student in the Business Economics program at Harvard University. Prior to coming to Harvard, she worked as a research analyst at the Federal Reserve Bank of New York and studied economics and mathematics at Williams College. Her main research... View Details

            Andre F. Perold

            André Perold is a Founder, Partner, and Chief Investment Officer of HighVista Strategies, a Boston-based investment firm. HighVista focuses on investing in structurally inefficient public and private markets, including in life sciences,  lower middle market private... View Details

            Keywords: financial services; financial services; financial services; financial services; financial services