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- Article
The Harmonization of Lending Standards within Banks through Mandated Loan-Level Transparency
By: Jung Koo Kang, Maria Loumioti and Regina Wittenberg-Moerman
We explore whether the introduction of transparent reporting rules increases credit standard harmonization within a bank. We exploit the new loan-level reporting rules imposed on banks that borrow from the European Central Bank using repurchase agreements... View Details
Keywords: Transparency; External And Internal Reporting; Credit Term Harmonization; Regulatory Scrutiny; Banks and Banking; Credit; Financial Reporting; Governing Rules, Regulations, and Reforms; Learning
Kang, Jung Koo, Maria Loumioti, and Regina Wittenberg-Moerman. "The Harmonization of Lending Standards within Banks through Mandated Loan-Level Transparency." Journal of Accounting & Economics 72, no. 1 (August 2021): 101386.
- Article
Credit and Punishment: Are Corporate Bankers Disciplined for Risk-Taking?
By: Janet Gao, Kristoph Kleiner and Joseph Pacelli
We examine whether bankers face disciplining consequences for structuring poorly performing corporate loans. We construct a novel data set containing the employment histories and loan portfolios of a large sample of corporate bankers and find that corporate credit... View Details
Keywords: Syndicated Loans; Credit Events; Career Outcomes; Loan Officers; Banks and Banking; Financing and Loans; Risk Management; Corporate Finance; Personal Development and Career
Gao, Janet, Kristoph Kleiner, and Joseph Pacelli. "Credit and Punishment: Are Corporate Bankers Disciplined for Risk-Taking?" Review of Financial Studies 33, no. 12 (December 2020): 5706–5749.
- Forthcoming
- Article
Weak Credit Covenants
By: Victoria Ivashina and Boris Vallée
Using novel data on 1,240 credit agreements, we investigate sources of contractual complexity in the leveraged loan market. While negative covenants are widespread, carve-out
and deductible clauses that qualify them are as frequent. We propose simple and comprehensive... View Details
Keywords: Leveraged Loans; Loan Contracts; Debt Covenants; Carve-out; Creditor Governance; LBO; Credit; Agreements and Arrangements; Leveraged Buyouts
Ivashina, Victoria, and Boris Vallée. "Weak Credit Covenants." Management Science (forthcoming). (Pre-published online April 15, 2025.)
- 24 Sep 2024
- Research & Ideas
Why Small Businesses Deserve More Credit
the financial security of being able to roll over debt in a credit line, shifted slowly to term debt. The researchers found: Fewer than 10 percent of the firms were "truly financially constrained" with... View Details
- Web
Terms of Use | HBS Online
Privacy Notice SMS Terms Terms of Use FERPA Community Values & Honor Code Trademark Notice Cookies Updated August 13, 2024 These terms apply to you if you registered or agreed... View Details
- 24 Jun 2008
- Working Paper Summaries
Bank Structure and the Terms of Lending to Small Businesses
- Web
Terms of Use - HBS Online
(11 August 2024) 1. Introduction; Changes Please read these Terms of Use and the other Agreements described immediately below before registering for, accessing or using any portion of the Harvard Business School Online website (the... View Details
- 14 Mar 2011
- Research & Ideas
Keeping Credit Flowing to Consumers in Need
government should not be the sole credit source. But how will private capital respond to a diminished federal role? Given the collapse of the housing market, what terms will private capital require to... View Details
- 03 Nov 2010
- Working Paper Summaries
How Did Increased Competition Affect Credit Ratings?
- 11 Jun 2014
- News
The Digital Opportunity Staring Credit Cards in the Face
- 14 Dec 2010
- Working Paper Summaries
Regulating for Legitimacy: Consumer Credit Access in France and America
Keywords: by Gunnar Trumbull
- August 2012
- Article
A Darker Side to Decentralized Banks: Market Power and Credit Rationing in SME Lending
By: Rodrigo Canales and Ramana Nanda
We use loan-level data to study how the organizational structure of banks impacts small business lending. We find that decentralized banks-where branch managers have greater autonomy over lending decisions-give larger loans to small firms and those with "soft... View Details
Keywords: Geographic Location; Customers; Financing and Loans; Credit; Organizational Structure; Banks and Banking; Governance Compliance; Competitive Strategy
Canales, Rodrigo, and Ramana Nanda. "A Darker Side to Decentralized Banks: Market Power and Credit Rationing in SME Lending." Journal of Financial Economics 105, no. 2 (August 2012): 353–366.
- 2008
- Working Paper
A Darker Side to Decentralized Banks: Market Power and Credit Rationing in SME Lending
By: Rodrigo Canales and Ramana Nanda
We use loan-level data to study how the organizational structure of banks impacts small business lending. We find that decentralized banks—where branch managers have greater autonomy over lending decisions—give larger loans to small firms and those with "soft... View Details
Keywords: Organizational Structure; Financing and Loans; Industry Structures; Banks and Banking; Banking Industry; Mexico
Canales, Rodrigo, and Ramana Nanda. "A Darker Side to Decentralized Banks: Market Power and Credit Rationing in SME Lending." Harvard Business School Working Paper, No. 08-101, June 2008. (Revised January 2011, August 2011.)
- August 2011 (Revised October 2014)
- Supplement
High Wire Act: Credit Suisse and Contingent Capital (B)
By: Clayton S. Rose and Aldo Sesia
The B case describes the process and terms of the very successful offerings of contingent capital in February 2011, as well as The Basel Committee's preliminary decision not to allow contingent capital to count as Tier 1 equity. View Details
Keywords: Cost vs Benefits; Decisions; Financial Crisis; Finance; Capital; Financial Instruments; Leadership
Rose, Clayton S., and Aldo Sesia. "High Wire Act: Credit Suisse and Contingent Capital (B)." Harvard Business School Supplement 312-008, August 2011. (Revised October 2014.)
- 01 Mar 2014
- News
Book Review: The Old West
growth—choosing instead to align with passive CEOs looking for short-term gains. What's more, the East is succeeding by using the very model the West forfeited, looking to men and women who seek to build empires with bold—and yes, occasionally risky—business strategies... View Details
Keywords: Maureen Harmon
- 01 Jun 2023
- News
Righting the Ship
projects to a historic high of 94 percent. But equally important is the higher quality of work and life for the teams. “They’re happy and proud of where they work now, but then there’s also an improvement in terms of mission. Now they can... View Details
Keywords: Maureen Harmon
- Web
Buy Now, Pay Later: Pre-Industrial Credit in Practice
Economy: The Rise of Credit Reporting Credit in a Consumer Society Research Links Credits “To term an American farmer dilatory in regard to the... View Details
- 22 Aug 2024
- Research & Ideas
Reading the Financial Crisis Warning Signs: Credit Markets and the 'Red-Zone'
worried about those credits failing. Layne: What can people look for in terms of signals right now, with the Fed trying to keep inflation under control and things not progressing quite as quickly as they... View Details
- 26 Jan 2021
- Research & Ideas
A New Way to Cut Credit Card Debt: Pay Off One Purchase at a Time
A novel approach to repaying debt could help consumers free themselves from crushing credit card balances faster, according to new research. Rather than asking borrowers to make payments toward their total balances, Harvard Business... View Details
- 27 Apr 2023
- Cold Call Podcast