Publications

June 2010 (Revised July 2012)
Supplement

Dubai: Debt, Development, and Crisis (C)

By: Aldo Musacchio, Andrew Christopher Goodman and Claire K. Qureshi

On November 25, 2009, the city state of Dubai stunned markets by announcing that Dubai World, its flagship state holding company, would seek a six month "standstill" on at least $4 billion U.S. dollars of its $26 billion in debt obligations. This case describes Dubai's... View Details

Keywords: Finance; Investment; Emerging Markets; Trade; Insolvency and Bankruptcy; Development Economics; Financial Crisis; State Ownership; Sovereign Finance; Business Strategy; Dubai

Fall 2020
Article

Sizing Up Corporate Restructuring in the COVID Crisis

By: Robin Greenwood, Benjamin Iverson and David Thesmar

In the wake of the COVID-19 pandemic, the financial and legal system will need to deal with a surge of financial distress in the business sector. Some firms will be able to survive, while others will face bankruptcy and thus need to be liquidated or reorganized. Many... View Details

Keywords: COVID-19; Health Pandemics; Economy; System Shocks; Financial Crisis; Restructuring

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June 2010 (Revised July 2012)
Case

Dubai: Debt, Development, and Crisis (A)

By: Aldo Musacchio, Andrew Christopher Goodman and Claire K. Qureshi

On November 25, 2009, the city state of Dubai stunned markets by announcing that Dubai World, its flagship state holding company, would seek a six-month "standstill" on at least $4 billion U.S. dollars of its $26 billion in debt obligations. This case describes Dubai's... View Details

Keywords: Accounting; Decision Choices and Conditions; Development Economics; Financial Crisis; Borrowing and Debt; Financial Strategy; State Ownership; Business and Government Relations; Dubai

November 2009 (Revised June 2012)
Supplement

Crisis and Reform in Japan's Banking System (B)

By: Thierry Porte, Rawi E. Abdelal, Laura Alfaro and Jonathan Schlefer

In 1997, amidst Japan's ongoing financial problems, Prime Minister Ryutaro Hashimoto sought to restructure the financial sector to make it more transparent and globally competitive. He hoped that this effort, dubbed the "Big Bang" after the British financial... View Details

Keywords: History; Adaptation; Policy; Globalized Markets and Industries; Financial Crisis; Business and Government Relations; Macroeconomics; Restructuring; Global Strategy; Banks and Banking; Banking Industry; Japan

November 2012 (Revised July 2013)
Case

Gerry Pasciucco at AIG Financial Products

By: Gautam Mukunda and Thomas J. DeLong

Gerry Pasciucco was appointed to lead American International Group's Financial Products (AIGFP) group after the government bailout of AIG in 2008 and charged with the task of shutting down the division while minimizing the government's losses. AIGFP's failed trades had... View Details

Keywords: Corporate Accountability; Ethics; Crisis Management; Financial Crisis; Management Teams; Business and Government Relations; Financial Services Industry; United States

January 2009
Case

Sue Whitman at MBB Financial

By: William A. Sahlman

This case describes some issues confronting the leader of a major investment bank. She is pleased with the financial performance of her firm but concerned about signs of a bubble in the market. View Details

Keywords: Financial Crisis; Investment Banking; Financial Condition; Performance Effectiveness; Performance Evaluation; Financial Services Industry; Financial Services Industry

June 2012 (Revised August 2012)
Case

MF Global: Changing Stripes

By: Clayton Rose, Yasmin Dahya and Jenevieve Lee

Jon Corzine became the CEO of MF Global in March of 2010. Eighteen months later, and in the wake of a massive trade in European sovereign debt, the firm filed for bankruptcy, the 8th largest in U.S. history. As the firm failed it was discovered that over $1.6 billion... View Details

Keywords: Strategy; Leadership; Governance; Bankruptcy; Financial Firms; Financial Crisis; Brokerage; Asset Management; Sovereign Finance; Insolvency and Bankruptcy; Borrowing and Debt; Trade; Business Model

August 2012
Article

Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance

By: Laura Alfaro and Maggie Chen

We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset, we investigate how multinational subsidiaries around the world... View Details

Keywords: Globalization; Financial Crisis; Multinational Firms and Management; Analytics and Data Science; Business Subsidiaries; Production; Finance; Performance; Ownership

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04 May 2009
Research & Ideas

What’s Next for the Big Financial Brands

now close to worthless. It drags down Bank of America's brand every time it is mentioned in the same breath. The Merrill Lynch brand is unlikely to ever recover and Bank of America should drop it. Merrill Lynch was one of 25 financial... View Details

Keywords: by John Quelch; Financial Services; Financial Services

April 1996 (Revised November 1996)
Case

Cleveland Turnaround (A, The: Responding to the Crisis (1978-1988)

By: James E. Austin and Andrea L Strimling

Traces the Cleveland community's efforts to move the city from economic, social, and political crisis in the late 1970s into revitalization and progress in the 1980s and 1990s. Special attention is given to the role of business leaders and the public-private... View Details

Keywords: Transition; Business Cycles; Business and Community Relations; Financial Crisis; Cleveland

October 1986
Case

World Bank and the Debt Crisis

By: Ray A. Goldberg

Keywords: Borrowing and Debt; Financial Crisis

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12 Jul 2021
News

Alumni Confront the COVID-19 Crisis

Rippleworks, Andy Kaplan (MBA 1978) recently led a session to help social venture teams through the COVID-19 crisis. Rippleworks convened 100+ social enterprises to share practical advice on managing and leading through a financial View Details

April 1998
Supplement

United States Financial Crisis of 1931, Note on Franklin D. Roosevelt, and A Keynesian Cure for The Depression,The Data Supplement

By: Willis M. Emmons III

Supplement to (9-384-115), (9-382-073), and (9-382-065). View Details

Keywords: Government and Politics; Economic Slowdown and Stagnation; Financial Crisis; Macroeconomics; United States

August 2011
Teaching Note

Subprime Crisis and Fair-Value Accounting (TN)

By: Paul Healy, Krishna G. Palepu and George Serafeim

Teaching Note for 109-031. View Details

Keywords: Fair Value Accounting; Mortgages; Standards; Financial Crisis

Web

2018 Financial Risk and Regulation Survey - Behavioral Finance & Financial Stability

crisis of 2007-2009 and its causes and effects." 2. Current Sources of Risk The survey asked the participants a number of questions regarding current sources of risk to the financial system. Participants... View Details

June 2009 (Revised May 2010)
Supplement

BlackRock Money Market Management in September 2008 (B)

By: Kenneth A. Froot and David Lane

This case highlights the issues surrounding money market mutual funds in the financial crisis of 2008. View Details

Keywords: BlackRock; Mutual Funds; Money Market; Investment Management; Bank Runs; 2008 Financial Crisis; Government Intervention In The Markets; GRG; Financial Management; Investment Funds; Government and Politics; Financial Crisis; Financial Services Industry

2024
Working Paper

Corporate Debt, Boom-Bust Cycles, and Financial Crises

By: Victoria Ivashina, Sebnem Kalemli-Özcan, Luc Laeven and Karsten Müller

Using a new dataset on sectoral credit exposures covering financial and non-financial sectors in 115 economies over the period 1940–2014, we document the following evidence that corporate debt plays a key role in explaining boom-bust cycles, financial crises, and slow... View Details

Keywords: Financial Crisis; Economic Slowdown and Stagnation; Economic Growth; Economic Sectors; Borrowing and Debt; Credit