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- All HBS Web (116)
- Faculty Publications (30)
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- 11 Aug 2009
- First Look
First Look: August 11, 2009
levels of discretion, while there is less discretion for intermediate market sizes. Finally, a reduction in entry barriers leads unambiguously to an increase in the level of discretion given to the agent, as it results in a larger number...
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Martha Lagace
- 01 Sep 2015
- First Look
First Look -- September 1, 2015
research in finance and economics. We propose two tests to evaluate how well measures of financial constraints actually capture constraints. We find that firms typically classified as constrained do not in fact behave as if they were constrained: they have no trouble...
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Sean Silverthorne
- 02 Feb 2012
- Op-Ed
Once a Castle, Home is Now a Debtors’ Prison
very own debtors' prisons. Their task is Sisyphean: they work, pay the monthly debt to the lender, yet see a perpetual gap between payments and value. The payments can seem like an extortion episode from The Sopranos. Exit strategies are...
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- 06 Nov 2012
- First Look
First Look: November 6
greater use of U.S.-style pay arrangements, and a reduction in the U.S.-UK pay gap. The product market effect is incremental to the effect of a U.S. exchange listing, the extent of the firm's non-U.S. foreign market interactions, and the...
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Sean Silverthorne
- 12 Jul 2011
- First Look
First Look: July 12
debt for firms in the vicinity of financial distress. We show that this ruling increased the likelihood of equity issues, increased investment, and reduced firm risk, consistent with a decrease in debt-equity conflicts of interest. The...
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Carmen Nobel
- 25 Sep 2018
- First Look
New Research and Ideas, September 25, 2018
recall leads to a one-month reduction in time to major innovation. Our results suggest that product failures influence subsequent innovation but that their impact is dependent upon recall source, proximity, and severity. The strategic and...
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Dina Gerdeman
- 18 Sep 2007
- First Look
First Look: September 18, 2007
Working PapersOptimal Reserve Management and Sovereign Debt Authors:Laura Alfaro and Fabio Kanczuk Abstract Most models currently used to determine optimal foreign reserve holdings take the level of international View Details
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Martha Lagace
- 09 Mar 2010
- First Look
First Look: March 9
abstract is unavailable at this time. Download the paper: http://hbr.org/2010/03/bold-retreat/ar/1 Lawsuits and Empire: On the Enforcement of Sovereign Debt in Latin America Authors:Laura Alfaro, Noel Maurer, and Faisal Ahmed...
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Martha Lagace
- 11 Oct 2016
- First Look
October 11, 2016
Wenxin, and Jesse Schreger Abstract—Nominal debt provides consumption-smoothing benefits if it can be inflated away during recessions. However, we document empirically that countries with more countercyclical inflation, where nominal...
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Sean Silverthorne
- 20 Sep 2016
- First Look
September 20, 2016
hosts who have never had an African-American guest, suggesting only a subset of hosts discriminate. While rental markets have achieved significant reductions in discrimination in recent decades, our results suggest that Airbnb’s current...
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Sean Silverthorne
- 22 Apr 2014
- First Look
First Look: April 22
to European banks, we evaluate a variety of interventions to reduce their vulnerability to fire sales during the sovereign debt crisis. Publisher's link:...
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Sean Silverthorne
- 10 Feb 2015
- First Look
First Look: February 10
through the intermediary. We show that this leads to inflated retail prices, excessive adoption of the intermediaries' services, over-investment in benefits to buyers, and a reduction in consumer surplus and sometimes welfare. Competition...
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Sean Silverthorne
- 01 Mar 2016
- First Look
March 1, 2016
credit-market sentiment in year t – 2 also forecasts a change in the composition of external finance: net debt issuance falls in year t, while net equity issuance increases, patterns consistent with the reversal in credit-market...
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Sean Silverthorne
- 25 Mar 2014
- First Look
First Look: March 25
variables approach. The negative effect is strongest in poor countries, suggesting that high profits stymie economic development rather than enable it. Consistent with the rent-seeking mechanism of the model, we find that high rents are associated with a slower View Details
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Sean Silverthorne
- 13 Sep 2011
- First Look
First Look: September 13
behaviors serve as a signal of prosocial identity and that people subsequently behave in line with that self-perception. In contrast, costless prosocial acts do not signal much about one's prosocial identity, so subsequent behavior is less likely to be consistent and...
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Sean Silverthorne
- 21 Jul 2014
- Research & Ideas
Is a Gap in Small-Business Credit Holding Back the American Economy?
access to public institutional debt and equity capital markets and the uncertainty of small business profits makes retained earnings a necessarily less stable source of capital. About 48 percent of business owners report a major bank as...
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- 24 Jul 2013
- Op-Ed
Detroit Files for Bankruptcy: HBS Faculty Weigh In
years for these reductions to have a material impact on a city's unfunded liabilities. In fact, many cities are downsizing employment, rather than hiring new workers. Cities could require all public employee retirees to join Medicare when...
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- 15 Jun 2010
- First Look
First Look: June 15
tranches. Overall, a one standard deviation reduction in average time on the market decreases the interest rate for institutional loans by over 30 basis points per annum. While this effect is significantly larger for loan tranches bought...
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Martha Lagace
- 12 Apr 2011
- First Look
First Look: April 12
complex way than the literature has previously suggested: a higher share of entrepreneurial peers leads to lower rather than higher subsequent rates of entrepreneurship. However, the decrease in entrepreneurship is entirely driven by a significant View Details
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Sean Silverthorne
- 18 Nov 2010
- Research & Ideas
GM’s IPO: Back to the Future
management alike. Bondholders received something like 10-to-15 cents in new GM equity on the dollar when the debt had no market value. The unions received a larger share of the equity than some thought their due, but in return they...
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