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- Faculty Publications (56)
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- All HBS Web (104)
- Faculty Publications (56)
- Web
Behavioral Finance & Financial Stability
firms lever up, the overall cost of capital falls as leverage increases equity beta, but as debt becomes riskier the marginal benefit of increasing equity beta declines. They find that leverage is inversely related to asset beta,...
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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 typically specialize in buying the...
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- Web
Finance - Faculty & Research
data, and a multimodal survey. There are three sets of results. First, we find no impact of debt relief on credit access, utilization, and financial distress on average. Second, we estimate that View Details
- Web
Named Fellowship Funds - Alumni
serves as global head of Oak Hill Advisors' distressed investment activities and has overall management responsibility for the firm. August is currently chairman of the board of directors of OHA Investment Corporation and serves on the...
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- Web
Human Behavior & Decision-Making - Faculty & Research
distress on average. Second, we estimate that debt relief causes a moderate but statistically significant reduction in payment of existing medical bills. Third, we find no effect of medical View Details
- 15 Jan 2019
- First Look
New Research and Ideas, January 15, 2019
https://pubwww.hbs.edu/faculty/Pages/item.aspx?num=53888 Racial Heterogeneity and Local Government Finances: Evidence from the Great Migration By: Tabellini, Marco Abstract—Is racial heterogeneity responsible for the distressed financial...
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Dina Gerdeman
Arthur I Segel
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- 28 May 2020
- Research & Ideas
Coronavirus Could Create a 'Bankruptcy Pandemic'
accrue) interest due on its unsecured debt after the filing date. The upshot of all this is that Chapter 11 is designed to give distressed companies access to significant amounts of cash when it is most...
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- Web
Research - Behavioral Finance & Financial Stability
financial and legal system will need to deal with a surge of financial distress in the business sector. In this paper, the authors try to size up the coming surge of financial distress, list the challenges it presents in the current...
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- 20 Jul 2021
- Research & Ideas
Bankruptcy Spells Death for Too Many Businesses
Chapter 11 bankruptcy protection is supposed to allow companies to shed debt and get a fresh start. Ideally, creditors recover most of what they’re owed as the restructured firm begins turning a profit. Yet, more companies are liquidated...
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by Rachel Layne
- 23 Nov 2020
- Research & Ideas
COVID Was Supposed to Increase Bankruptcies. Instead, They've Gone Down.
Consumer bankruptcies usually climb alongside unemployment rates as filers seek to discharge debt and get a fresh start, write the authors of the new working paper Bankruptcy and the COVID-19 Crisis. “Historically, the number one cause of...
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by Rachel Layne
- Web
Kristin W. Mugford | About
a senior member of Bain Capital Credit's management team and investment committee. Bain Capital Credit is one of the leading corporate and distressed debt managers, managing over $40 billion in offices...
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- Web
Finance Awards & Honors - Faculty & Research
for "The Ownership and Trading of Debt Claims in Chapter 11 Restructurings" (February 2016) with Benjamin Iverson and David C. Smith. Elisabeth Kempf: Awarded the 2017 J.C. Ruigrok Prize for the best economics dissertation in the...
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- 30 Aug 2004
- Research & Ideas
Real Estate: The Most Imperfect Asset
big and diverse. Today, however, American investors are buying distressed mortgages in Japan, industrial buildings in Mexico, and developing shopping centers in Eastern Europe. Globalization has hit the real estate industry big time. A...
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- Web
2022 Reunion Presentations - Alumni
leadership; the United States’ weakened economy after 2008; post-COVID deficits and debt in Latin America, Africa and Europe; and the conditions of energy and commodity markets post-Ukrainian war. Slides June 10-11 Reunion Celebration...
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- Fast Answer
Turnarounds
Where can I find information on turnarounds? Use Refinitiv Workspace to search for investments in turnaround or View Details
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Creating Value Through Corporate Restructuring - Course Catalog
some financial challenge or crisis. This process of renegotiation and re-contracting - the “re-slicing of the corporate pie” - is the central focus of the course. An additional objective in dissecting the complex finances and operating challenges that confront...
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- 09 Aug 2016
- First Look
August 9, 2016
forthcoming Organizational Behavior and Human Decision Processes Managing Perceptions of Distress at Work: Reframing Emotion as Passion By: Wolf, Elizabeth Baily, Jooa Julia Lee, Sunita Sah, and Alison Wood Brooks Abstract—Expressing...
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Sean Silverthorne
- 12 Jul 2011
- First Look
First Look: July 12
been abandoned by its owners and had come under the control of CW Capital, the special servicer for the vast amount of debt that was in default. Any investment in a distressed property could be very risky...
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Carmen Nobel
- 24 Dec 2013
- First Look
First Look: December 24
alternative financing models of corporate lenders, including banks and finance companies.) The second major component of the case concerns distressed debt investment strategies and provides an illustration...
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Carmen Nobel