Private Debt - Publications - Faculty & Research

10 Nov 2009
First Look

First Look: Nov. 10

are also consistent with SOX and regulatory actions reducing the incentives to sell ahead of privately known negative news. Bye Bye Bundles: The Unbundling of Music in Digital Channels Author:Anita Elberse Publication:Journal of Marketing... View Details

Keywords: Martha Lagace

15 Jan 2019
First Look

New Research and Ideas, January 15, 2019

Business School Case 719-417 National Australia Bank: Looking Out for the Customer After learning that most defaults were due to health, job, or marital problems, National Australia Bank revised its debt collection department to shift... View Details

Keywords: Dina Gerdeman

04 Sep 2001
Research & Ideas

Is Government Just Stupid? How Bad Decisions Are Made

medical care, defense, education and so on guarantees that fewer taxpayer dollars and government resources will be available for other initiatives. It may also mean that the national debt will increase, imposing a heavy burden on future... View Details

Keywords: by Max H. Bazerman, Jonathan Baron & Katherine Shonk

08 Nov 2011
First Look

First Look: Nov. 8

especially on high-income young workers and (2) lowers average taxes on all young workers relative to older workers when private saving and borrowing are restricted. Finally, I calculate and characterize the welfare gains from age... View Details

Keywords: Sean Silverthorne

16 Jul 2013
First Look

First Look: July 16

managerial skill, and significant alignment of interests. All these abound in the private sector. Thus major opportunities exist for businesses that can create and claim value by improving resource efficiency. The products and services... View Details

Keywords: Anna Secino

20 Sep 2016
First Look

September 20, 2016

find that the effects are stronger among innovating Massachusetts firms, particularly those facing greater Wall Street scrutiny. The evidence is consistent with staggered boards improving managers' incentives to make long-term investments. Sovereign View Details

Keywords: Sean Silverthorne

12 Apr 2016
First Look

April 12, 2016

something we call "spontaneous private deregulation," and it is not new. Benign or otherwise, spontaneous deregulation is happening increasingly rapidly and in ever more industries. This article surveys incumbents'... View Details

Keywords: Sean Silverthorne

09 Mar 2010
First Look

First Look: March 9

re-occurring phenomenon of sovereign default has prompted an enormous theoretical and empirical literature. Most of this research has focused on why countries ever chose to pay their debts (or why private... View Details

Keywords: Martha Lagace

24 Dec 2013
First Look

First Look: December 24

Lakshmi, Xin Meng, Nancy Qian, and Xiaoxue Zhao Abstract—This paper studies the policy determinants of economic transition and estimates the demand for labor in the infant private sector in urban China. We show that a reform that untied... View Details

Keywords: Carmen Nobel

16 Nov 2021
HBS Case

How a Company Made Employees So Miserable, They Killed Themselves

can make extreme means seem justifiable.” A company spiraling into debt France Télécom’s troubles started in the late 1990s, after the French government turned the national telephone monopoly into a publicly traded company, now known as... View Details

Keywords: by Michael Blanding

June 2024
Case

Caesars Entertainment: Governance on the Road to Bankruptcy

By: Kristin Mugford

Caesars Entertainment was a large casino operator in the United States that had been purchased in a 2008 leveraged buyout by Apollo and TPG. In January 2015, Caesars Entertainment Operating Company (CEOC), its largest subsidiary, filed for Chapter 11. This set up a... View Details

Keywords: Gaming; Chapter 11; Fraudulent Conveyance; Apollo; TPG; Bankruptcy; Leveraged Buyouts; Restructuring; Capital Structure; Insolvency and Bankruptcy; Private Equity; Financial Management; Lawsuits and Litigation; Negotiation; Games, Gaming, and Gambling; Borrowing and Debt; Entertainment and Recreation Industry; Las Vegas

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02 Aug 2016
First Look

August 2, 2016

performance in public and private performance domains by decreasing anxiety. Belief that a specific series of behaviors constitute a ritual is a critical ingredient to reduce anxiety and improve performance: engaging in behaviors... View Details

Keywords: Sean Silverthorne

10 Aug 2010
First Look

First Look: August 10

GuthrieHarvard Business School Case 411-023 Mekong Capital, a private equity firm specializing in investing in Vietnam, had grown dramatically since its inception in 2002 and faced numerous organizational issues in 2007. There was a... View Details

Keywords: Martha Lagace

24 Jul 2000
Research & Ideas

Value Maximization and Stakeholder Theory

our actions and opportunities, at least in the short run. It is our job as directors, managers, and employees to resist the temptation to conform to the pressures of equity and debt markets when those markets do not have the View Details

Keywords: by Michael C. Jensen

02 Oct 2018
First Look

New Research and Ideas, October 2, 2018

Innovation: Evidence from China By: Fang, Lily, Josh Lerner, Chaopeng Wu, and Qi Zhang Abstract—: Governments are important financiers of private sector innovation. While these public funds can ease capital constraints and information... View Details

Keywords: Dina Gerdeman

January 2021 (Revised March 2021)
Supplement

Juno (C): Leveraging Student Power

By: Joshua Schwartzstein, Kathleen L. McGinn and Amy Klopfenstein

In May 2020, Juno co-founders Chris Abkarians and Nikhil Agarwal decided to hold the annual auction for their student loan assistance startup. Five lenders submitted bids, and the co-founders ultimately opted to select Eager Bank as their partner for the 2020-2021... View Details

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28 May 2020
Research & Ideas

Coronavirus Could Create a 'Bankruptcy Pandemic'

new debt and private equity financing. With its debt burden significantly lightened and $2 billion of cash in the bank, Lyondell emerged from the bankruptcy with a much... View Details

Keywords: by Dina Gerdeman; Financial Services; Banking

Article

Credit Access and Social Welfare: The Rise of Consumer Lending in the United States and France

By: Gunnar Trumbull

Research into the causes of the 2008 financial crisis has drawn attention to a link between growing income inequality in the United States and high household indebtedness. Most accounts trace the U.S. idea of credit-as-welfare to the period of wage stagnation and... View Details

Keywords: Household Finance; Welfare State; Credit; Personal Finance; Welfare; Borrowing and Debt; France; United States

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16 Jun 2021
HBS Case

Cruising in Crisis: How Carnival Is Riding Out the COVID-19 Storm

companies are often considered financially distressed. “Indeed, early in the pandemic, with the financial markets in turmoil, Carnival reportedly entered into discussions with a group of private equity and hedge fund investors—who... View Details

Keywords: by Michael Blanding; Travel

February 2018 (Revised August 2018)
Case

Blue Haven Initiative: The PEGAfrica Investment

By: Vikram S. Gandhi, Caitlin Reimers Brumme and Amram Migdal

This case examines Blue Haven Initiative (BHI), an impact investing fund and family office, and one of its investments, PEGAfrica (PEG). BHI founder Liesel Pritzker Simmons’ motivations for using her family wealth to start a family office focused on impact investing,... View Details