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- All HBS Web (103)
- Faculty Publications (35)
- 01 Dec 2008
- News
What Went Wrong?
myself straining to understand not just what was happening but the strange vocabulary used to describe it. I’d never heard of a subprime mortgage. Likewise securitization in all its exotic flavors: collateralized debt obligations,...
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- 04 Aug 2014
- Op-Ed
Why Small-Business Lending Is Not Recovering
years during the crisis and subsequent recovery. In addition, collateral owned by small businesses lost value during the financial crisis, potentially making small business borrowers less creditworthy today—in fact, small business credit...
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- 17 Nov 2022
- News
Blockchain for Good
As the Nigeria-Biafra war raged around them, Stella Dyer (MBA 1994), her mother, and her brother made a dangerous dash for a better life. Huddled in the belly of a Portuguese cargo plane returning from delivering arms to the Biafran forces, Dyer remembers Nigerian...
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Ralph Ranalli
- 01 Jun 1997
- News
A Better Way to Go on Strike
deprived them of their bargaining power, at least into April when the presidential order expired. There is, however, a better way - one that would permit the contending parties to fight it out while limiting the costs to themselves and avoiding much View Details
- 06 Oct 2015
- First Look
October 6, 2015
impact on entrepreneurship, using individual- and firm-level micro data from Denmark. The reform allowed entrepreneurs to bypass the project screening function of banks, by instead relying on the value of housing collateral to access...
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Sean Silverthorne
- 23 Jan 2018
- First Look
First Look at New Research and Ideas, January 23, 2018
collateral consequences of idle time; when workers expect idle time following a task, their work pace declines and their task completion time increases. This decline reverses the well-documented deadline effect, producing a dead-time...
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Sean Silverthorne
- 03 Dec 2008
- What Do You Think?
Can Housing and Credit be “Nudged” Back to Health?
creating "a modern version of alchemy," turning packages of poorly-rated mortgages into triple-A-rated collateral debt obligations, complete with supposed insurance against risk. The problem was that even financial experts...
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by Jim Heskett
- 06 Dec 2011
- Op-Ed
Greater Fiscal Integration Best Solution for Euro Crisis
increase in borrowing cost, paralleling that of their respective sovereigns, while their collateral is decreasing in value. Since the amount of leverage in the system is still high, equity valuations and capital ratios are squeezed. The...
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by Dante Roscini
- 01 Mar 2017
- News
In My Humble Opinion: Arunma Oteh (MBA 1990)
communities: “In one instance, I met a couple who, for the first time, owned the title to their newly rebuilt home. As a result, they had enough collateral to start a small business. That is the real change that makes what I do so...
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Julia Hanna
- 01 Sep 2015
- News
Case Study: Golden Ticket
collateral business. For long-term strategy, the company is weighing two options. One, invest in expanding their client base and extending it beyond the sports market, targeting all kinds of community events like fairs and festivals. The...
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- 12 Sep 2007
- Op-Ed
Building Sandcastles: The Subprime Adventure
subprime market, that "somebody else" was the lender. If a borrower defaulted, the bank recouped its investment by foreclosing on the home. The house represented collateral that, ideally, would reimburse the lender. Thanks to...
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- 09 Apr 2014
- Research & Ideas
A Playbook for Small-Business Job Creation
real estate) used for collateral of would-be small business borrowers," Mills says. "The bankers say they can't find creditworthy borrowers and the borrowers talk about having to go to bank after bank before they find one that...
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- 06 Jan 2011
- What Do You Think?
How Should Management Deal With “Anonymous”?
view," but to ask how, if at all, organizations can or should be defended against the response from Anonymous? Its actions, triggered by the attacks on Wikileaks, hinted at a future of everything from Internet mischief (a la Anonymous) to cyber warfare, with...
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by James L. Heskett
- 18 May 2009
- Research & Ideas
The Unseen Link Between Savings and National Growth
technology expertise they need. And thus the link to savings—to attract an investor, companies must put collateral into the project: money from savings. With access to technology, the company improves its productivity and contributes to...
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by Sarah Jane Gilbert
- 13 Oct 2010
- First Look
First Look: October 13, 2010
and Collateralized Lending Authors:Jakub W. Jurek and Erik Stafford Abstract This paper develops a parsimonious static model for characterizing financing terms in collateralized lending markets. We...
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Sean Silverthorne
- 13 Sep 2004
- Research & Ideas
Cash and the Woman-Owned Business
more, as compared to 58 percent of their male counterparts.13 However, when women choose to seek debt capital, there appears to be no systematic gender bias. Instead, the owner's age, the size of the firm, credit history, and the ability to provide View Details
- 08 Jul 2008
- First Look
First Look: July 8, 2008
http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=208088 Collateralized Debt Obligations (CDOs) Harvard Business School Note 208-113 This lesson integrated Merton's (1974) contingent claims model of debt and equity claims...
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Martha Lagace
- 20 Jan 2009
- Research & Ideas
Risky Business with Structured Finance
In the wake of the financial crisis, many once-esoteric investment terms have become a familiar part of our vocabulary. The role of structured finance securities such as collateralized debt obligations (CDOs), for example, and the part...
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- 09 Jul 2018
- Research & Ideas
Overcoming the Challenges of Selling Brand New Technology (Hey, Need a 3-D Printer?)
collateral design, launches the product, and then “throws it over the wall” to sales and marketing. “This process is product-centric and a bucket-brigade approach where the groups work serially and in silos in a rapidly changing tech...
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- 22 Jul 2014
- First Look
First Look: July 22
collateral and liquidate it at the first sign of trouble. Thus traditional banks have a stable source of funding, while shadow banks are subject to runs and fire-sale losses. These different funding models in turn influence the kinds of...
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Sean Silverthorne