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  • 29 Jan 2015
  • Op-Ed

The Fall of Greece

Editor's note. On Sunday, the left-leaning Syriza party and its leader Alexis Tsipra won a decisive national victory in Greece, partly on pledges to reduce current austerity measures and to seek a... View Details
Keywords: by George Serafeim
  • 13 Aug 2008
  • Research & Ideas

The Inner Life of Leaders

stern letter, Eisenhower was on the verge of replacing him as commander of one of the armies. Q: What do the hedgehog and fox metaphors mean in relation to the complexities of leadership? A: The title of the book is a View Details
Keywords: by Martha Lagace
  • 24 Sep 2014
  • Op-Ed

The ABCs of Addressing Climate Change (From a Business Perspective)

It's Climate Week in New York City. The schedule features a UN Climate Summit, a People's Climate March, the Clinton Global Initiative, substantial criticism of the whole endeavor, and plenty of agitated interaction. There is a lot of noise here. How can businesses cut... View Details
Keywords: by John Macomber; Energy; Utilities
  • Article

The Economics of Structured Finance

By: Joshua D. Coval, Jakub W. Jurek and Erik Stafford
This paper investigates the spectacular rise and fall of structured finance. The essence of structured finance activities is the pooling of economic assets like loans, bonds, and mortgages, and the subsequent issuance of a prioritized capital structure of claims, known... View Details
Keywords: Financial Crisis; Asset Management; Debt Securities; Investment; Risk Management; Behavior
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Coval, Joshua D., Jakub W. Jurek, and Erik Stafford. "The Economics of Structured Finance." Journal of Economic Perspectives 23, no. 1 (Winter 2009): 3–25.
  • April 2011
  • Teaching Note

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

By: J. Gunnar Trumbull, Dante Roscini and Diane Choi
Teaching Note for 711049. View Details
Keywords: Currency; Central Banking; Borrowing and Debt; Decisions; Banking Industry
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Trumbull, J. Gunnar, Dante Roscini, and Diane Choi. "The Euro in Crisis: Decision Time at the European Central Bank (TN)." Harvard Business School Teaching Note 711-094, April 2011.
  • 16 Sep 2014
  • First Look

First Look: September 16

August 2012, Molycorp announced it would issue $120 million of equity and $360 million of convertible debt. To facilitate the issuance of convertible debt, the firm entered a "share lending agreement" with Morgan Stanley whereby... View Details
Keywords: Sean Silverthorne
  • August 2007
  • Teaching Note

Creditor Activism in Sovereign Debt: "Vulture" Tactics or Market Backbone (TN)

By: Laura Alfaro and Ingrid Vogel
Teaching Note to 706057. View Details
Keywords: Borrowing and Debt; Financing and Loans; Bonds; Contracts; Investment Activism
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Alfaro, Laura, and Ingrid Vogel. Creditor Activism in Sovereign Debt: "Vulture" Tactics or Market Backbone (TN). Harvard Business School Teaching Note 708-010, August 2007.
  • 05 Oct 2009
  • Research & Ideas

The Vanguard Corporation

customers even though they screened out clients with environmentaly shaky projects. So despite having stringent standards for potential borrowers to meet, and stringent standards for employees, Banco Real... View Details
Keywords: by Sean Silverthorne
  • 18 Jun 2013
  • First Look

First Look: June 18

grown its real GDP at about 6% annually. This came after a huge debt crisis in 2001-02, wherein Turkey had to borrow $16 billion more from the IMF and comport with its... View Details
Keywords: Anna Secino
  • 2007
  • Chapter

Behavioral Corporate Finance: A Survey

By: Malcolm Baker, Richard Ruback and Jeffrey Wurgler
Research in behavioral corporate finance takes two distinct approaches. The first emphasizes that investors are less than fully rational. It views managerial financing and investment decisions as rational responses to securities market mispricing. The second approach... View Details
Keywords: Decisions; Prejudice and Bias; Debt Securities; Financial Management; Price; Theory; Investment; Problems and Challenges; Behavioral Finance; Corporate Finance
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Baker, Malcolm, Richard Ruback, and Jeffrey Wurgler. "Behavioral Corporate Finance: A Survey." In The Handbook of Corporate Finance, Volume 1: Empirical Corporate Finance, edited by Espen Eckbo. New York: Elsevier/North-Holland, 2007.
  • 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... View Details
Keywords: Sean Silverthorne
  • 17 Oct 2006
  • First Look

First Look: October 17, 2006

firms such as Elliot and Dart as "vultures" or "rouge creditors" who sought to profit on sovereign debt restructurings at the expense of countries suffering economic hardship View Details
Keywords: Sean Silverthorne
  • 02 Apr 2015
  • Research & Ideas

Digital Initiative Summit: Who Has the Power in the Music Industry?

The music industry likes power. Power chords, power ballads, even Towers of Power. The balance of power in the industry, however, has been completely upset with the advent and rapid proliferation of digital music. Who calls the shots... View Details
Keywords: Re: Felix Oberholzer-Gee; Music
  • 19 Mar 2007
  • Research & Ideas

Handicapping the Best Countries for Business

(Italy), demographic and entrepreneurial problems (Japan), or excessive consumption and debt problems (USA). Q: One of the surprises I had in reading the book was your... View Details
Keywords: by Sean Silverthorne
  • 11 Jul 2006
  • First Look

First Look: July 11, 2006

case:http://harvardbusinessonline.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=506055 The Barber of Buenos Aires: Argentina's Debt Renegotiation Noel Maurer and Aldo Musacchio 706-034 This case tells... View Details
Keywords: Sean Silverthorne
  • 01 Jul 2014
  • First Look

First Look: July 1

a mix of both. Wherever clubs fall on this spectrum, having a strategy that recognizes the global importance of stars is critical to long-lasting financial success. August 2013 Journal of Finance A Comparative-Advantage Approach to Government View Details
Keywords: Carmen Nobel
  • 08 May 2012
  • First Look

First Look: May 8

activity between strategic (operating firms) and financial (private equity) acquirers. What are the economic factors that drive either financial or strategic buyers to dominant positions in M&A activity? We introduce View Details
Keywords: Carmen Nobel
  • October 2012
  • Article

Securitization without Adverse Selection: The Case of CLOs

By: Effi Benmelech, Jennifer Dlugosz and Victoria Ivashina
In this paper, we investigate whether securitization was associated with risky lending in the corporate loan market by examining the performance of individual loans held by CLOs. We employ two different datasets that identify loan holdings for a large set of CLOs and... View Details
Keywords: Personal Finance; Performance; Markets; Banks and Banking; Debt Securities; Investment Portfolio; Financing and Loans
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Benmelech, Effi, Jennifer Dlugosz, and Victoria Ivashina. "Securitization without Adverse Selection: The Case of CLOs." Journal of Financial Economics 106, no. 1 (October 2012): 91–113.
  • 21 Aug 2007
  • First Look

First Look: August 21, 2007

do with an East Coast distribution center that is losing money but may be useful strategically. Purchase this case: http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=807061 Prosper Marketplace, Inc. Harvard Business School Case 807-074 Describes a set of... View Details
Keywords: Martha Lagace
  • 30 Mar 2010
  • First Look

First Look: March 30

disproportionately affected by international financial integration. Download the paper: http://www.hbs.edu/research/pdf/07-012.pdf Nominal versus Indexed Debt: A Quantitative Horse Race Authors:Laura Alfaro and Fabio Kanczuk Abstract The... View Details
Keywords: Sean Silverthorne
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