Publications

SSRN

14 Jun 2018
Cold Call Podcast

How Chase Sapphire Made Credit Cool for Millennials

Keywords: Financial Services; Banking

October 2008 (Revised June 2010)
Case

Executive Pay and the Credit Crisis of 2008 (A)

By: V.G. Narayanan, Fabrizio Ferri and Lisa Brem

The credit crisis of 2008 placed compensation practices at publicly traded firms in the United States under scrutiny. This case examines perceived excessive pay and severance packages at several firms implicated in the credit crisis of 2008, the executive compensation... View Details

Keywords: Financial Crisis; Governing and Advisory Boards; Government Legislation; Executive Compensation; United States

September 2006 (Revised August 2007)
Background Note

The History of Credit Agencies in the United States

By: F. Warren McFarlan and Tracy Manty

Provides a brief background on the history of credit agencies in the United States. Focuses on the mature process of data collection on an American consumer and how credit agencies share the information to determine proper credit risk and worthiness of a consumer. The... View Details

Keywords: Credit; United States

1981
Article

Federal Credit and the Shadow Budget

By: Dutch Leonard and Elisabeth H. Rhyne

Keywords: Budgets and Budgeting; Credit

April 2012
Case

Credit Rating Agency Reform in the US and EU

By: Robert C. Pozen and Brian Conroy

The purpose of this note is to explore reform options for the credit rating industry. The note examines the ways in which credit rating agencies contributed to the recent financial crisis, particularly through ratings of securitized products and sovereign debt. It... View Details

Keywords: Debt Securities; Financial Condition; Standards; Financial Crisis; Corporate Finance; Financial Services Industry; United States; European Union

January 2010 (Revised April 2010)
Case

Credit Suisse Group: Managing Equity Research as a Business

By: Boris Groysberg, Paul M. Healy and Sarah Abbott

In 2003, in the midst of industry turmoil and company-specific challenges, Stefano Natella was named Global Head of Equity Research at Credit Suisse. Over a six-year period, Natella implemented and refined a new methodology for valuing equity research analysts, both... View Details

Keywords: Business Model; Change Management; Customer Satisfaction; Compensation and Benefits; Selection and Staffing; Balanced Scorecard; Organizational Change and Adaptation; Financial Services Industry

01 Jul 2010
Working Paper Summaries

Cyclicality of Credit Supply: Firm Level Evidence

Keywords: by Bo Becker & Victoria Ivashina; Banking

Fast Answer

Securitization process and credit rating agencies

What resources are available on the securitization process, credit rating agencies and European covered bonds? Databases Bloomberg - Use Mortgages function to get information on various forms of secured loans Standard &... View Details

November 24, 2009
Article

Homebuyer Tax Credits Threaten FHA

By: Robert C. Pozen

Keywords: Taxation; Credit

September 1992
Case

Star Cablevision Group (C): Responding to a Credit Market Contraction

By: William A. Sahlman

Third case in a series of six cases. This case describes the company as it adjusts to a credit market contraction. View Details

Keywords: Credit; Markets

July 2009 (Revised July 2009)
Case

Delphi Corp. and the Credit Derivatives Market (A)

By: Stuart C. Gilson, Victoria Ivashina and Sarah Abbott

In 2005, Jane Bauer-Martin, a hedge fund manager, is considering what she should do with the fund's large investment in the publicly traded bonds of Delphi Corp., a financially troubled auto parts supplier. Delphi is General Motor's key auto parts supplier, and, like... View Details

Keywords: Borrowing and Debt; Insolvency and Bankruptcy; Credit Derivatives and Swaps; Bonds; Financial Management; Risk Management

Web

Buy Now, Pay Later: Credit and the Market Economy: The Rise of Credit Reporting

HBS Quick Links MBA Executive Education Doctoral Programs Faculty and Research Alumni HBS Publishing Site Index HBS Home Contact Us Map/Directions Introduction Credit in Pre-Industrial Society Credit and the... View Details

May 2013
Teaching Plan

High Wire Act: Credit Suisse and Contingent Capital

By: Clayton Rose and David Lane

Late in 2010, Credit Suisse CEO Brady Dougan and his team considered whether or not to issue contingent capital, which Swiss regulators would require by 2019. They faced a number of substantial issues, including: Would contingent capital actually work as conceptualized... View Details

Keywords: Financial Institutions; Capital Markets; Financial Crisis; Decision Choices and Conditions; Leadership; International Finance; Financial Liquidity; Risk and Uncertainty; Competitive Strategy; Financial Services Industry; Switzerland

Foreign banks’ lending to firms in emerging market economies is large and denominated predominantly in U.S. dollars. This creates a direct connection between U.S. monetary policy and EME credit cycles. We estimate that over a typical U.S. monetary easing cycle, EME... View Details

March 1987 (Revised May 1987)
Case

Sicartsa II: The Export Credit Wars

July 1990
Background Note

Note on Acquiring Bank Credit

By: Amar Bhide and Howard H. Stevenson

Outlines the issues and alternatives faced by start-up businesses in attracting bank credit. The topics covered are how to lay the groundwork for establishing a banking relationship, selecting a bank, preparing an application, and negotiating a loan. View Details

Keywords: Business Startups; Credit; Financing and Loans; Management; Negotiation; Relationships

March 2021
Article

Loan Guarantees and Credit Supply

By: Natalie Bachas, Olivia S. Kim and Constantine Yannelis

The efficiency of federal lending guarantees depends on whether guarantees increase lending supply or simply act as a subsidy to lenders. We use notches in the guarantee rate schedule for Small Business Administration (SBA) loans to estimate the elasticity of bank... View Details

Keywords: Borrowing and Debt; Financing and Loans; Banks and Banking; Credit