Publications

Forthcoming
Article

In the Red: Overdrafts, Payday Lending and the Underbanked

By: Marco Di Maggio, Angela Ma and Emily Williams

The reordering of transactions from “high-to-low” is a controversial bank practice thought to maximize fees paid by low-income customers on overdrawn accounts. We exploit multiple class-action lawsuits resulting in mandatory changes to this practice, coupled with... View Details

Keywords: Overdraft; Payday Loans; Excessive Fees; Underbanked; Underserved; Income; Personal Finance; Borrowing and Debt; Banks and Banking

February 2011
Journal Article

Minimal Settlement Assets in Economies with Interconnected Financial Obligations

By: Julio J. Rotemberg

A model is developed where firms belonging to a group are obliged to make payments to one another by using a liquid asset. The paper studies the exogenous endowments of this asset that are necessary to assure that all obligations are met. Conditions are presented under... View Details

Keywords: Borrowing and Debt; Financial Liquidity; Financing and Loans; Networks

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1999
Other Unpublished Work

Ownership and Control in Entrepreneurial Firms: An Examination of Convertible Securities in Venture Capital Investment

By: Paul A. Gompers

Keywords: Business Startups; Ownership; Management; Debt Securities; Venture Capital

Web

Buy Now, Pay Later: Imagining Pre-Industrial Credit

points to a conviction that debt leads inexorably to immorality. The aristocrat bedeviled by dunning creditors is another popular theme, suggesting the moneylender's power to upset the established social order. Later prints take a more... View Details

Web

Forward Fellowship | MBA

award is intended to reduce their MBA loan debt and to help them make an investment in themselves. Forward Fellowship awards and evaluation criteria The Forward Fellowship award is $30,000 ($15,000 each year). Unlike regular need-based... View Details

30 May 2018
News

HBS Fellowship Program Puts an MBA Within Reach

how she would pay for it and how much debt she would incur. Receiving a generous fellowship provided by Blanca G. Reza and Reynaldo Reza (MBA 1995) eased her concerns and enabled her to attend the School, where she is furthering her... View Details

Web

Once in a Lifetime Opportunities | Social Enterprise | Harvard Business School

opportunities through the Leadership Fellows Program . She was familiar with Acumen through her work at M-KOPA (in which the firm was an early investor), and recognized that the program “would allow me to enter the social space at a sustainable salary level – an... View Details

29 Jul 2013
News

Opening New Markets for Black South African Winemakers

greater impact through entrepreneurship. Bill Sahlman's Entrepreneurial Finance course helped me gain the self-awareness that maybe this was more of a personality fit than I thought." Cuffe owes another debt of gratitude to the School, as... View Details

Keywords: wine; wine making; wine importing; Food Manufacturing; Manufacturing; Food and Beverage Stores; Retail Trade

12 Sep 2017
First Look

First Look at New Research and Ideas, September 12, 2017

prevents executives from investing in management capabilities, arguing that such investments are a powerful way to become more competitive. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=53203 Debt Redemption and Reserve... View Details

Keywords: Carmen Nobel

08 Aug 2018
Sharpening Your Skills

Parmigiano-Reggiano, Jane Austen, and Other Things You Didn't Know About Finance

Unlearned? Corporate Debt in Emerging Markets Emerging markets are contending with a worrisome slowdown in economic growth accompanied by the build-up of corporate debt. Is Greed Ruining Private Equity Firms? In a first-ever look at the... View Details

Keywords: by Sean Silverthorne; Financial Services

Web

Our Work Together | About

she articulated will inspire the work of the University for years to come. We owe a tremendous debt of gratitude to Alan—someone I admire deeply—for his service to the University as Interim President. I hope you will join me in thanking... View Details

October 1991 (Revised November 1993)
Case

Dynashears, Inc.

By: Thomas R. Piper

A senior loan officer is reviewing the recent performance of a company that has failed to repay its loan as scheduled. The failure results from a cyclical downturn in sales, coupled with a lag in cutting back production. Inventory risk is minimal. Teaching objective:... View Details

Keywords: Borrowing and Debt; Business Cycles; Financial Condition; Risk and Uncertainty; Failure

December 2007
Case

Ruling the Modern Corporation: The Debate over Limited Liability in Massachusetts

By: David A. Moss and Eugene Kintgen

In 1830, Governor Levi Lincoln, Jr. urged the Massachusetts state legislature to introduce a limited liability regime for manufacturing corporations similar to that adopted in neighboring states. At least since 1809, shareholders in the state's manufacturing... View Details

Keywords: Capital; Debt Securities; Legal Liability; Production; Business and Shareholder Relations; Manufacturing Industry; Massachusetts

01 Mar 2008
News

An American Odyssey

is that it is explicitly about race, and the magnitude of the social debt is very large in dollar terms.” In the latest of his several books, Lift the Hood, due out this year, America addresses the problems of unjust enrichment and of... View Details

Keywords: Garry Emmons; Lawrence Fouraker; Business Schools & Computer & Management Training; Educational Services; Finance

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

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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