Publications

October 2014
Supplement

Financial Policy at Apple, 2013 Excel Supplement

By: Mihir Desai and Elizabeth A. Meyer

This is the Excel Supplement to Teaching Note 215-022: Financial Policy at Apple, 2013 (A) - (B). View Details

Keywords: Apple; Steve Jobs; Forecast; Forecasting; Forecasting And Prediction; Shareholder Activism; Share Repurchase; Dividends; Financial Ratios; Preferred Shares; Cash Distribution; Corporate Finance; Borrowing and Debt; Financial Management; Financial Strategy; United States; Republic of Ireland

Web

Merit-Based Admissions, Need-Based Aid | MBA

Socioeconomic background Undergraduate debt Scholarships are based on a standardized formula for all students. Students with higher earnings contribute at a higher rate than students with lower earnings. If you are married and/or have... View Details

27 Apr 2017
News

Helping Veterans Gain Skills to Thrive in the Business World

burdens of debt prompted York, global head of Private Wealth Management at Goldman Sachs, to endow a fellowship in recognition of his 25th Reunion and add to it for his 30th. The son of a veteran, York supports students who have a... View Details

03 Nov 2016
Op-Ed

Forget About Making College Affordable; Make it a Good Investment

America’s more than $1 trillion in student loan debt. Indeed, some college graduates with student loans have not secured employment sufficiently remunerative to meet their financial obligations. Others are struggling to escape a heavy View Details

Keywords: by Joseph Fuller; Education

28 Jul 2009
Research Event

Business Summit: Real Estate

The crisis may have started with residential real estate but it is also affecting commercial real estate. Asset prices have fallen and are expect to decline further; there are likely to be massive defaults; and debt is virtually... View Details

Keywords: Re: Howard H. Stevenson; Construction; Real Estate

01 Jun 2006
News

A New Day for Fellowships

discussed the strong community she found at HBS and her own personal transformation. In closing remarks, Dean Jay Light noted that “financial debts can be settled, but the gifts of fellowships endure.” Evidence of that could be heard as... View Details

Keywords: Business Schools & Computer & Management Training; Educational Services

06 Apr 2010
First Look

First Look: April 6

ownership and control of 3,694 firms in 22 Western European and East Asian countries during the period from 1996 to 2008, we find that the cost of debt financing is significantly higher for companies with a wider divergence between the... View Details

Keywords: Martha Lagace

07 Aug 2012
Research & Ideas

Off and Running: Professors Comment on Olympics

place for permanent residents or poorly designed for families in a mass market. Finally, consider the costs of projects that more often than not go way over budget and then result in crushing long-term debt burdens. Montreal's Olympic... View Details

Keywords: Re: Multiple Faculty; Sports

December 1989
Article

Organizational Changes and Value Creation in Leveraged Buyouts: The Case of O.M. Scott & Sons Company

By: George P. Baker and Karen Wruck

Keywords: Change; Value; Borrowing and Debt; Financial Instruments; Leveraged Buyouts

Find at Harvard

September 2003 (Revised January 2005)
Case

Emergence, Valhalla, and Orchid: Divergent Models for Venture Capital Funds

By: William A. Sahlman and Matthew Willis

Compares and contrasts three different venture capital funds from the perspective of a potential investor. The first fund has a technology-enabled services preference, the second a Mid-Atlantic region preference, and the third a seed round preference. Students are... View Details

Keywords: Borrowing and Debt; Entrepreneurship; Service Operations; Information Technology; Venture Capital

01 Dec 2002
News

The Campaign for Harvard Business School

student debt is rising steeply. Last year, nearly half of all MBA students received support from fellowships — need-based grants applied directly to their costs. The average fellowship grant for members of the Class of 2003 was more than... View Details

Keywords: Colleges, Universities, and Professional Schools; Educational Services; Religious, Grantmaking, Civic, Professional, and Similar Organizations; Personal Services

18 Sep 2007
First Look

First Look: September 18, 2007

Working PapersOptimal Reserve Management and Sovereign Debt Authors:Laura Alfaro and Fabio Kanczuk Abstract Most models currently used to determine optimal foreign reserve holdings take the level of international View Details

Keywords: Martha Lagace

01 Dec 2017
News

Record-Breaking Gift for Fellowships

father had to take on loans, and it was his dream to have his own children attend college without the burden of debt or having to work during school,” said Jeannie, noting that her father became an investment banker partly in order to... View Details

18 Dec 2018
First Look

New Research and Ideas, December 18, 2018

of Debt Forgiveness: Strategic Default Contagion and Lender Learning By: Pérez Cavazos, Gerardo Abstract—I use a unique data set of loans to small business owners to examine whether lenders face adverse consequences when they grant View Details

Keywords: Dina Gerdeman

15 Nov 2016
First Look

November 15, 2016

will be critical to their success. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=51813 Fiscal Rules and Sovereign Default By: Alfaro, Laura, and Fabio Kanczuk Abstract—We provide a quantitative analysis of fiscal rules in a standard model of... View Details

Keywords: Sean Silverthorne

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 debt market... View Details

Keywords: Carmen Nobel

2023
Working Paper

The Credit Supply Channel of Monetary Policy Tightening and Its Distributional Impacts

By: Joshua Bosshardt, Marco Di Maggio, Ali Kakhbod and Amir Kermani

This paper studies how tightening monetary policy transmits to the economy through the mortgage market and sheds new light on the distributional consequences at both the individual and regional levels. We find that credit supply factors, specifically restrictions on... View Details

Keywords: Policy; Borrowing and Debt; Credit; Mortgages; Macroeconomics

February 2019 (Revised January 2021)
Case

Quiksilver Inc. and Oaktree Capital Management

By: Kristin Mugford and Mike Harmon

Sports lifestyle company Quiksilver filed for bankruptcy in September 2015. Oaktree is considering an additional investment in the company to facilitate the restructuring. Students must consider whether Oaktree should invest given the risks of the turnaround... View Details

Keywords: Bankruptcy; Bankruptcy Reorganization; Insolvency and Bankruptcy; Acquisition; Restructuring; Debt Securities; Transformation; Decision Making; Borrowing and Debt; Investment Return; Crisis Management; Negotiation; Retail Industry; Apparel and Accessories Industry; Consumer Products Industry; France; United States

September 1998 (Revised December 1998)
Case

Infinity Carpets, Inc.

By: Ronald W. Moore and Thomas R. Piper

A turnaround expert must determine whether a firm in distress is worth more as a going concern than its liquidation value. If so, the finances of the firm must be restructured in a way consistent with the bargaining power of the holders of the various securities. The... View Details

Keywords: Restructuring; Borrowing and Debt; Financial Liquidity; Crisis Management; Value; Apparel and Accessories Industry