Filter Results:
(511)
Show Results For
- All HBS Web
(777)
- People (1)
- News (166)
- Research (511)
- Events (12)
- Multimedia (1)
- Faculty Publications (280)
Show Results For
- All HBS Web
(777)
- People (1)
- News (166)
- Research (511)
- Events (12)
- Multimedia (1)
- Faculty Publications (280)
Page 1 of 511
Results →
Sort by
- Forthcoming
- Article
Transitory and Permanent Cash Flow Shocks in Debt Contract Design
By: Le Ma, Anywhere Sikochi and Yajun Xiao
We examine how lenders design contracts to account for transitory and permanent cash flow shocks facing borrowers. We find that volatile transitory cash flow shocks are associated with fewer liquidity covenants, indicating financial flexibility that enables firms to... View Details
Keywords: Debt Covenants; Cash Flow Shocks; Debt Contracting; Likelihood Of Default; Cash Flow; System Shocks
Ma, Le, Anywhere Sikochi, and Yajun Xiao. "Transitory and Permanent Cash Flow Shocks in Debt Contract Design." Journal of Financial and Quantitative Analysis (forthcoming). (Pre-published online February 25, 2025.)
- 2024
- Working Paper
Transitory and Permanent Cash Flow Shocks in Debt Contract Design
By: Le Ma, Anywhere Sikochi and Yajun Xiao
We examine how lenders design contracts to account for transitory and permanent cash flow shocks facing borrowers. We find that volatile transitory cash flow shocks are associated with fewer liquidity covenants, indicating financial flexibility that enables firms to... View Details
Keywords: Debt Covenants; Cash Flow Shocks; Debt Contracting; Likelihood Of Default; Cash Flow; System Shocks
Ma, Le, Anywhere Sikochi, and Yajun Xiao. "Transitory and Permanent Cash Flow Shocks in Debt Contract Design." Harvard Business School Working Paper, No. 22-026, October 2021. (Revised February 2024. Journal of Financial and Quantitative Analysis, Conditional Accept.)
- May–June 2014
- Article
Paradigm-Changing vs. Paradigm-Deepening Innovation: How Firm Scope Influences Firm Technological Response to Shocks
By: Gautam Ahuja, Curba Morris Lampert and Vivek Tandon
We examine the direction of firms' research efforts as they respond to the shock of a sharp increase in the price of a key input. In terms of direction, firms can respond to this shock with paradigm-changing investments that develop technologies to use substitute... View Details
Keywords: Technological Change; Innovation; Evolutionary Approaches; Shocks; Technological Innovation; System Shocks; Corporate Strategy
Ahuja, Gautam, Curba Morris Lampert, and Vivek Tandon. "Paradigm-Changing vs. Paradigm-Deepening Innovation: How Firm Scope Influences Firm Technological Response to Shocks." Organization Science 25, no. 3 (May–June 2014): 653–669.
- March 2021
- Article
On the Direct and Indirect Real Effects of Credit Supply Shocks
By: Laura Alfaro, Manuel García-Santana and Enrique Moral-Benito
We explore the real effects of bank-lending shocks and how they permeate the economy through buyer-supplier linkages. We combine administrative data on all Spanish firms with a matched bank-firm-loan dataset of all corporate loans from 2003 to 2013 to estimate... View Details
Keywords: Credit Supply Shocks; Bank Lending Channel; Input-output Linkages; Output; Mechanisms; Trade Credits; Price Effects; Economics; Credit; System Shocks; Employment; Investment; Spain
Alfaro, Laura, Manuel García-Santana, and Enrique Moral-Benito. "On the Direct and Indirect Real Effects of Credit Supply Shocks." Journal of Financial Economics 139, no. 3 (March 2021): 895–921.
- December 2024
- Article
Large Shocks Travel Fast
By: Alberto Cavallo, Francesco Lippi and Ken Miyahara
We document a sizeable increase in the frequency of price adjustments following the large energy shocks of 2022. We use a tractable New Keynesian model, calibrated to the pre-shock data, to interpret such a pattern. The calibration highlights the state-dependence of... View Details
Cavallo, Alberto, Francesco Lippi, and Ken Miyahara. "Large Shocks Travel Fast." American Economic Review: Insights 6, no. 4 (December 2024): 558–574.
- October 1999 (Revised June 2000)
- Supplement
Shock Therapy in Eastern Europe: Supplement
By: Richard H.K. Vietor and Rebecca Evans
Supplements Shock Therapy in Eastern Europe: The Polish and Czechoslovakia Economic Reforms. Designed as an in-class handout. View Details
Keywords: Governing Rules, Regulations, and Reforms; Macroeconomics; Slovakia; Czech Republic; Poland
Vietor, Richard H.K., and Rebecca Evans. "Shock Therapy in Eastern Europe: Supplement." Harvard Business School Supplement 700-054, October 1999. (Revised June 2000.)
- July 2022
- Article
The Pass-Through of Uncertainty Shocks to Households
By: Marco Di Maggio, Amir Kermani, Rodney Ramcharan, Vincent Yao and Edison Yu
Using new employer-employee matched data, this paper investigates the impact of uncertainty, as measured by idiosyncratic stock market volatility, on individual outcomes. We find that firms provide at best partial insurance to their workers. An increase in firm-level... View Details
Keywords: Employment Risk; Consumption; Employment; Risk and Uncertainty; System Shocks; Insurance; Household; Spending
Di Maggio, Marco, Amir Kermani, Rodney Ramcharan, Vincent Yao, and Edison Yu. "The Pass-Through of Uncertainty Shocks to Households." Journal of Financial Economics 145, no. 1 (July 2022): 85–104. (2023 Fama-DFA Prize for the Best Paper Published in the Journal of Financial Economics in Asset Pricing, 2nd place.)
- Research Summary
Industry Dynamics Following Competitive Shocks
Robert E. Kennedy and Pankaj Ghemawat are using industrial organization theory to study industrial development in countries that have undergone major competitive shocks. Their goal is to develop a set of hypotheses regarding how industry factors effect change in entry... View Details
- 1984
- Chapter
Energy Price Shocks and Macroeconomic Adjustment
By: Julio J. Rotemberg and Robert Pindyck
Rotemberg, Julio J., and Robert Pindyck. "Energy Price Shocks and Macroeconomic Adjustment." In Oil Shock: Policy Response and Implementation, edited by A. Alm and R. Weiner. Cambridge: Ballinger Publishing Company, 1984.
- 1998
- Chapter
Competitive Policy Shocks and Strategic Management
By: P. Ghemawat, R. E. Kennedy and Tarun Khanna
- Teaching Interest
Cities, Structures, and Climate Shocks
By: John D. Macomber
This course is about building sustainable and resilient cities, future proofing real estate and infrastructure assets, and examining how businesses and investors find opportunities in climate adaptation.
The world faces substantial challenges in the face of... View Details
- 2024
- Working Paper
CSR Under the Pressure of Financial Shocks
By: Monica Kabutey, Syrena Shirley and Anywhere Sikochi
This study examines how the COVID-19 pandemic influenced firms' interactions with customers and suppliers. Customer-supplier relationships are essential because the success of interconnected firms affects the sustainability of the entire supply chain. We use the... View Details
Keywords: COVID-19 Pandemic; Supply Chain; Customer Focus and Relationships; Business and Stakeholder Relations; Corporate Social Responsibility and Impact; Financial Crisis
Kabutey, Monica, Syrena Shirley, and Anywhere Sikochi. "CSR Under the Pressure of Financial Shocks." Harvard Business School Working Paper, No. 25-006, August 2024.
- April 1984
- Article
Energy Price Shocks and Macroeconomic Adjustment
By: J. J. Rotemberg and Robert Pindyck
Rotemberg, J. J., and Robert Pindyck. "Energy Price Shocks and Macroeconomic Adjustment." Natural Resources Journal 26 (April 1984): 277–296.
- February 1999
- Article
The Persistence of Shocks to Profitability
By: Anita M. McGahan and Michael E. Porter
In this study, we use data for 1981 through 1994 on a large sample of U.S. companies to examine the persistence of incremental industry, corporate-parent, and business-specific effects on profitability. Our results indicate that the incremental effects of industry on... View Details
McGahan, Anita M., and Michael E. Porter. "The Persistence of Shocks to Profitability." Review of Economics and Statistics 81, no. 1 (February 1999): 143–153.
- 2014
- Working Paper
Poverty and Crime: Evidence from Rainfall and Trade Shocks in India
By: Lakshmi Iyer and Petia Topalova
Does poverty lead to crime? We shed light on this question using two independent and exogenous shocks to household income in rural India: the dramatic reduction in import tariffs in the early 1990s and rainfall variations. We find that trade shocks, previously shown to... View Details
Keywords: Rainfall; Weather; Crime; Trade Liberalization; India; Crime and Corruption; Poverty; India
Iyer, Lakshmi, and Petia Topalova. "Poverty and Crime: Evidence from Rainfall and Trade Shocks in India." Harvard Business School Working Paper, No. 14-067, April 2014. (Revised August 2014.)
- 2019
- Working Paper
Outsourcing Innovation: The China Shock Hits Brazil
By: Laura Alfaro, Maggie Chen, Andrea Lucchesi and Naercio A. Menezes Filho
- 31 Aug 2020
- Working Paper Summaries
The Pass-Through of Uncertainty Shocks to Households
- 1999
- Working Paper
Unemployment Shocks and Endogenous Labor Market Institutions
By: Rafael Di Tella and Robert MacCulloch
Di Tella, Rafael, and Robert MacCulloch. "Unemployment Shocks and Endogenous Labor Market Institutions." Harvard Business School Working Paper, No. 00-035, November 1999.
- 2019
- Working Paper
Labor Market Shocks and the Demand for Trade Protection: Evidence from Online Surveys
By: Rafael Di Tella and Dani Rodrik
We study preferences for government action in response to layoffs resulting from different types of labor-market shocks. We consider the following shocks: technological change, a demand shift, bad management, and three kinds of international outsourcing. Respondents... View Details
Di Tella, Rafael, and Dani Rodrik. "Labor Market Shocks and the Demand for Trade Protection: Evidence from Online Surveys." NBER Working Paper Series, No. 25705, March 2019.