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All HBS Web
(1,324)
- People (3)
- News (289)
- Research (717)
- Events (3)
- Multimedia (1)
- Faculty Publications (366)
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- 08 May 2017
- Working Paper Summaries
Monetary Policy and Global Banking
- October 1994
- Case
Bankers Trust: Global Investment Bank
By: Andre F. Perold and Kuljot Singh
In October 1992, Eugene Shanks, president of Bankers Trust New York Corp., and Brian Walsh, head of the Global Investment Bank (GIB) business unit, are considering a proposal for a large and complex financing involving the North Sea Oil Co. (NSOC). The financing...
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Keywords:
Risk and Uncertainty;
Credit Derivatives and Swaps;
Risk Management;
Value Creation;
Business History;
Capital Markets;
Financing and Loans;
Financial Markets;
Corporate Finance;
Banking Industry;
Banking Industry
Perold, Andre F., and Kuljot Singh. "Bankers Trust: Global Investment Bank." Harvard Business School Case 295-010, October 1994.
- March 2006 (Revised November 2006)
- Case
China: To Float or Not To Float? (D)- Bank of America's Strategic Investment in China Construction Bank
By: Laura Alfaro, Rafael M. Di Tella and Ingrid Vogel
With its $3 billion investment in Chinese state bank China Construction Bank, Bank of America--the second U.S. bank behind Citigroup in terms of assets and market capitalization--was one of several foreign banks directly participating in China's banking sector reform....
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Keywords:
Currency Exchange Rate;
Banks and Banking;
Foreign Direct Investment;
International Relations;
Banking Industry;
China;
United States
Alfaro, Laura, Rafael M. Di Tella, and Ingrid Vogel. "China: To Float or Not To Float? (D)- Bank of America's Strategic Investment in China Construction Bank." Harvard Business School Case 706-031, March 2006. (Revised November 2006.)
- April 2002 (Revised September 2002)
- Background Note
Capital Controls
By: Rawi E. Abdelal and Laura Alfaro
Only in the waning years of the 20th century did international financial markets begin to enjoy the freedom from government regulation that they had experienced before the first world war. By 2002, international capital markets had grown to be enormous--$1.2 trillion...
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Keywords:
History;
Policy;
Business and Government Relations;
Change Management;
Cost vs Benefits;
Governance Controls;
Governance Compliance;
Emerging Markets;
Financial Markets;
Network Effects;
Banking Industry;
Banking Industry
Abdelal, Rawi E., and Laura Alfaro. "Capital Controls." Harvard Business School Background Note 702-082, April 2002. (Revised September 2002.)
- February 2011 (Revised June 2011)
- Case
Stock Reform of Shenzhen Development Bank
By: Li Jin, Li Liao, Aldo Sesia and Jianyi Wu
Shenzhen Development Bank, China's first publicly traded company, was undergoing the non-tradable share reform. Its current controlling shareholder, private equity firm Newbridge Capital LLC, needs to negotiate with its diverse minority shareholders to find a...
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Keywords:
Capital;
Private Equity;
Investment;
Corporate Governance;
Managerial Roles;
Emerging Markets;
Negotiation;
Business and Shareholder Relations;
Conflict of Interests;
Banking Industry;
China
Jin, Li, Li Liao, Aldo Sesia, and Jianyi Wu. "Stock Reform of Shenzhen Development Bank." Harvard Business School Case 211-080, February 2011. (Revised June 2011.)
- October 2022 (Revised August 2023)
- Case
Founders First Capital Partners: An Approach to Capital Access Equity
By: Brian Trelstad, Mel Martin and Amy Klopfenstein
In June 2021, Kim T. Folsom, the founder and CEO of revenue-based financing firm Founders First Capital Partners (FFCP), must decide whether to issue another loan to OnShore Technology Group, an up-and-coming software validation company. FFCP provided revenue-based...
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Keywords:
Finance;
Financial Instruments;
Financing and Loans;
Interest Rates;
Investment Return;
Revenue;
Capital;
Financial Services Industry;
North and Central America;
United States
Trelstad, Brian, Mel Martin, and Amy Klopfenstein. "Founders First Capital Partners: An Approach to Capital Access Equity." Harvard Business School Case 323-013, October 2022. (Revised August 2023.)
- April 1999 (Revised November 1999)
- Case
Columbia Capital Corporation: Summer 1998
By: G. Felda Hardymon and Justin D. Wasik
In August 1998, the partners of Columbia Capital in Arlington, Va. made a decision about whether or not to raise an outside fund for venture capital investing. Columbia had begun in 1988 as a boutique investment bank focused on the telecommunications industry, but had...
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Keywords:
Decisions;
Venture Capital;
Private Equity;
Partners and Partnerships;
Investment Funds;
Banks and Banking;
Financial Services Industry;
Telecommunications Industry;
United States
Hardymon, G. Felda, and Justin D. Wasik. "Columbia Capital Corporation: Summer 1998." Harvard Business School Case 899-255, April 1999. (Revised November 1999.)
- July 2012
- Case
Barclays Capital and the Sale of Del Monte Foods
By: John Coates, Clayton Rose and David Lane
This case explores the reputational and legal issues that arise as Barclays Capital attempted to manage client conflicts by following established industry practice in the face of changing legal norms. In February 2011, Judge Travis Laster granted a preliminary...
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Keywords:
Client Management;
Fiduciary Duty;
Mergers & Acquisitions;
Investment Banking;
Private Equity;
Ethics;
Finance;
Reputation;
Banking Industry;
United States
Coates, John, Clayton Rose, and David Lane. "Barclays Capital and the Sale of Del Monte Foods." Harvard Business School Case 313-036, July 2012.
- May 2010 (Revised July 2010)
- Case
Bank of America Acquires Merrill Lynch (A)
By: Robert C. Pozen and Charles E. Beresford
On December 22, 2008, Bank of America (BofA) chairman and CEO Ken Lewis convened a special board of directors meeting to review his company's pending acquisition of investment bank Merrill Lynch. Negotiations for the acquisition had begun a few months earlier, during...
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Keywords:
Mergers and Acquisitions;
Decision Choices and Conditions;
Financial Crisis;
Corporate Governance;
Government Legislation;
Crisis Management;
Business and Government Relations;
Banking Industry
Pozen, Robert C., and Charles E. Beresford. "Bank of America Acquires Merrill Lynch (A)." Harvard Business School Case 310-092, May 2010. (Revised July 2010.)
- 2011
- Working Paper
What Do Development Banks Do? Evidence from Brazil, 2002-2009
By: Sergio G. Lazzarini, Aldo Musacchio, Rodrigo Bandeira-de-Mello and Rosilene Marcon
While some authors view development banks as an important tool to alleviate capital constraints in scarce credit markets and unlock productive investments, others see those banks as conduits of cheap loans to politically connected firms that could obtain capital...
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Keywords:
Cost of Capital;
Credit;
Equity;
Banks and Banking;
Financing and Loans;
Investment;
Government and Politics;
Data and Data Sets;
Resource Allocation;
Markets;
Performance;
Banking Industry;
Brazil
Lazzarini, Sergio G., Aldo Musacchio, Rodrigo Bandeira-de-Mello, and Rosilene Marcon. "What Do Development Banks Do? Evidence from Brazil, 2002-2009." Harvard Business School Working Paper, No. 12-047, December 2011.
- October 2010 (Revised November 2010)
- Case
YES BANK: Mainstreaming Development into Indian Banking
By: Michael Chu and Namrata Arora
YES BANK, founded in 2003 and highly successful, has consistently been profitable meeting the Indian government's Priority Sector Lending (PSL) requirements, unlike virtually all other private sector banks, which view PSL activity as a necessary but loss-making part of...
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Keywords:
Development Economics;
Private Equity;
Microfinance;
Investment;
Governing and Advisory Boards;
Corporate Social Responsibility and Impact;
Environmental Sustainability;
Expansion;
Banking Industry;
India
Chu, Michael, and Namrata Arora. "YES BANK: Mainstreaming Development into Indian Banking." Harvard Business School Case 311-063, October 2010. (Revised November 2010.)
- September 2010
- Article
Bank Lending During the Financial Crisis of 2008
This paper documents that new loans to large borrowers fell by 47% during the peak period of the financial crisis (fourth quarter of 2008) relative to the prior quarter and by 79% relative to the peak of the credit boom (second quarter of 2007). New lending for real...
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Keywords:
Financial Liquidity;
Financing and Loans;
Credit;
Borrowing and Debt;
Financial Crisis;
Banking Industry
Ivashina, Victoria, and David S. Scharfstein. "Bank Lending During the Financial Crisis of 2008." Journal of Financial Economics 97, no. 3 (September 2010): 319–338.
- October 1999 (Revised November 1999)
- Case
Wit Capital: Evolution of the Online Investment Bank
Wit Capital brings democracy to the IPO process via the World Wide Web. This case encourages debate about the role service will play in this technology-intermediated investment bank and the sources and sustainability of its competitive advantage.
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Keywords:
Initial Public Offering;
Service Delivery;
Competitive Advantage;
Investment Banking;
Web;
Banking Industry
Hallowell, Roger H., and Tonicia C. Hampton. "Wit Capital: Evolution of the Online Investment Bank." Harvard Business School Case 800-145, October 1999. (Revised November 1999.)
- September 2004 (Revised December 2004)
- Case
Bank Leu's Prima Cat Bond Fund
In 2001, Bank Leu, a Swiss private bank, is considering creating the world's first public fund for catastrophe bonds. Cat bonds are securities whose payments depend on the probability of a catastrophe occurring, such as an earthquake or hurricane. Cat bonds are...
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Keywords:
Risk Management;
Bonds;
Natural Disasters;
Insurance;
Capital Markets;
Banks and Banking;
Banking Industry;
Banking Industry;
Switzerland
Chacko, George C., Peter A. Hecht, Vincent Dessain, Anders Sjoman, and Adam J. Plotkin. "Bank Leu's Prima Cat Bond Fund." Harvard Business School Case 205-005, September 2004. (Revised December 2004.)
- October 2009
- Article
Democratizing Entry: Banking Deregulations, Financing Constraints, and Entrepreneurship
By: William R. Kerr and Ramana Nanda
We examine entrepreneurship and creative destruction following US banking deregulations using Census Bureau data. US banking reforms brought about exceptional growth in both entrepreneurship and business closures. Most of the closures, however, were the new ventures...
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Keywords:
Entrepreneurship;
Governing Rules, Regulations, and Reforms;
Market Entry and Exit;
Capital Markets;
Banks and Banking;
Growth and Development;
Disruptive Innovation
Kerr, William R., and Ramana Nanda. "Democratizing Entry: Banking Deregulations, Financing Constraints, and Entrepreneurship." Journal of Financial Economics 94, no. 1 (October 2009): 124–149.
- December 2013
- Article
Leviathan as a Minority Shareholder: Firm-level Implications of State Equity Purchases
By: Carlos F. K. V. Inoue, Sergio G. Lazzarini and Aldo Musacchio
In many countries, firms face institutional voids that raise the costs of doing business and thwart entrepreneurial activity. We examine a particular mechanism to address those voids: minority state ownership. Due to their minority nature, such stakes are less affected...
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Keywords:
Business Groups;
Development Banks;
State Capitalism;
Performance;
State Ownership;
Brazil
Inoue, Carlos F. K. V., Sergio G. Lazzarini, and Aldo Musacchio. "Leviathan as a Minority Shareholder: Firm-level Implications of State Equity Purchases." Academy of Management Journal 56, no. 6 (December 2013).
- Article
Raising Capital Requirements: At What Cost?
By: Malcolm Baker and Jeffrey Wurgler
Since the financial crisis, bank capital positions have improved considerably. However, calls for heightened capital requirements have not abated. Federal Reserve Chair Ben Bernanke, Vice Chair Janet Yellen, and governors Daniel Tarullo and Jeremy Stein have all...
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Baker, Malcolm, and Jeffrey Wurgler. "Raising Capital Requirements: At What Cost?" Review of Financial Regulation Studies, no. 11 (Summer 2013): 4–6.
- 2006
- Working Paper
Democratizing Entry: Banking Deregulations, Financing Constraints, and Entrepreneurship
By: William R. Kerr and Ramana Nanda
We examine entrepreneurship and creative destruction following US banking deregulations using Census Bureau data. US banking reforms brought about exceptional growth in both entrepreneurship and business closures. The vast majority of closures, however, were the new...
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Keywords:
Business Exit or Shutdown;
Market Entry and Exit;
Capital Markets;
Entrepreneurship;
Outcome or Result;
Business Startups;
Banks and Banking;
Banking Industry;
United States
Kerr, William R., and Ramana Nanda. "Democratizing Entry: Banking Deregulations, Financing Constraints, and Entrepreneurship." Harvard Business School Working Paper, No. 07-033, December 2006. (Revised July 2007, December 2007, October 2008, December 2008.)
- 2016
- Working Paper
Financial Regulation in a Quantitative Model of the Modern Banking System
By: Juliane Begenau and Tim Landvoigt
How does the shadow banking system respond to changes in the capital regulation of commercial banks? This paper builds a quantitative general equilibrium model with commercial banks and shadow banks to study the unintended consequences of capital requirements. A key...
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Begenau, Juliane, and Tim Landvoigt. "Financial Regulation in a Quantitative Model of the Modern Banking System." Harvard Business School Working Paper, No. 16-140, June 2016. (Revised July 2016.)
- Article
Deposit Competition and Financial Fragility: Evidence from the U.S. Banking Sector
By: Mark Egan, Ali Hortaçsu and Gregor Matvos
We develop a structural empirical model of the US banking sector. Insured depositors and run-prone uninsured depositors choose between differentiated banks. Banks compete for deposits and endogenously default. The estimated demand for uninsured deposits declines with...
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Egan, Mark, Ali Hortaçsu, and Gregor Matvos. "Deposit Competition and Financial Fragility: Evidence from the U.S. Banking Sector." American Economic Review 107, no. 1 (January 2017): 169–216.