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What Does the Failure of Silicon Valley Bank Say About the State of Finance?

by Dina Gerdeman

Silicon Valley Bank wasn't ready for the Fed's interest rate hikes, but that's only part of the story. Victoria Ivashina and Erik Stafford probe the complex factors that led to the second-biggest bank failure ever.

Bankruptcy Spells Death for Too Many Businesses

by Rachel Layne

Hasty liquidations cost creditors billions of dollars a year, research by Samuel Antill finds. What if more bankrupt companies were restructured—and revived—instead? Open for comment; 0 Comments.

COVID Was Supposed to Increase Bankruptcies. Instead, They've Gone Down.

by Rachel Layne

Down economic cycles and increasing unemployment usually usher in a rise in bankruptcies. Not so in the COVID-19 recession, where just the reverse has happened. Research by Raymond Kluender and colleagues. Open for comment; 0 Comments.

Coronavirus Could Create a 'Bankruptcy Pandemic'

by Dina Gerdeman

An expected explosion in bankruptcy proceedings over the coming months could overwhelm the courts, says Stuart Gilson. Open for comment; 0 Comments.

Trade Creditors' Information Advantage

by Victoria Ivashina and Benjamin Iverson

Trade credit represents about a quarter of the liabilities of US firms. There are several theories explaining this fact. This study reexamines whether suppliers hold private information about their trade partners, by analyzing their behavior in bankruptcy.

The Quest for Better Layoffs

by Carmen Nobel

Professor Sandra Sucher wants to change the way business thinks about workforce reductions. "We want people to learn about the forces they unleash in the firm when they institute layoffs." Open for comment; 0 Comments.

Detroit Files for Bankruptcy: HBS Faculty Weigh In

by John Macomber, Robert C. Pozen, Eric D. Werker & Benjamin Kennedy

After a long period of economic decline, the city of Detroit filed for bankruptcy protection last week. John Macomber, Robert Pozen, Eric Werker, and Benjamin Kennedy offer their views on some down-the-road scenarios. Closed for comment; 0 Comments.

GM: What Went Wrong and What’s Next

by Staff

For decades, General Motors reigned as the king of automakers. What went wrong? We asked HBS faculty to reflect on the wrong turns and missed opportunities of the former industry leader, and to suggest ideas for recovery. Closed for comment; 0 Comments.

Innovation Corrupted: How Managers Can Avoid Another Enron

by Martha Lagace

The train wreck that was Enron provides key insights for improving corporate governance and financial incentives as well as organizational processes that strengthen ethical discipline, says HBS professor emeritus Malcolm S. Salter. His new book, Innovation Corrupted: The Origins and Legacy of Enron's Collapse, is a deep reflection on the present and future of business. Key concepts include: Enron's stated purpose was too general to permit disciplined and responsible decision-making in the face of difficulty. The lessons of Enron relate to strengthening board oversight, avoiding perverse financial incentives for executives, and instilling ethical discipline throughout business organizations. Directors of public companies can adapt key aspects of the private-equity governance model to ensure that they fulfill their oversight responsibilities. Incentive systems should reward accomplishments other than economic performance, and penalize failures. Companies can take steps to help senior executives avoid the two sources of leadership failure at Enron: personal opportunism and flights to utopianism. Closed for comment; 0 Comments.