Finance
-
- December 2024
- Article
Are Bankruptcy Professional Fees Excessively High?
By: Samuel AntillChapter 7 is the most popular bankruptcy system for U.S. firms and individuals. Chapter 7 professional fees are substantial. Theoretically, high fees might be an unavoidable cost of incentivizing professionals. I test this empirically. I study trustees, the most important professionals in Chapter 7, who liquidate assets in exchange for legally-mandated commissions. Exploiting kinks in the commission function, I estimate a structural model of moral hazard by trustees. I show that a policy change lowering trustee fees would harm trustee incentives, reducing liquidation values. Nonetheless, such a policy would dramatically improve creditor recovery, increasing small-business-lender recovery by 15.7%.
- December 2024
- Article
Are Bankruptcy Professional Fees Excessively High?
By: Samuel AntillChapter 7 is the most popular bankruptcy system for U.S. firms and individuals. Chapter 7 professional fees are substantial. Theoretically, high fees might be an unavoidable cost of incentivizing professionals. I test this empirically. I study trustees, the most important professionals in Chapter 7, who liquidate assets in exchange for...
-
-
- November 2024
- Case
Grab Returns: Riding the SPAC-tacular Highway?
By: Paul Gompers, Graham Blanks and Sachin Srivastava- November 2024
- Case
Grab Returns: Riding the SPAC-tacular Highway?
By: Paul Gompers, Graham Blanks and Sachin Srivastava
About the Unit
Our strategy is to assemble and nurture a faculty whose interests and skills complement each other, and who work well together:
a) to produce a broad range of finance-related research that is published in top-tier scientific and practitioner journals, and that addresses issues of present and future importance to managers (including regulators and policy makers);
b) to develop highly-relevant and intellectually rigorous MBA and executive education courses; and
c) to mentor future academics through the Business Economics doctoral program.
Our applied focus and access to business organizations are major advantages which are reinforced by our students and our case-based approach. We have a faculty with broad expertise, and we have resources, field contacts, and institutional support, all of which we can leverage to do richer work and be more productive than we could at other institutions.
Recent Publications
Are Bankruptcy Professional Fees Excessively High?
- December 2024 |
- Article |
- Review of Financial Studies
Planning For the Brown Family
- November 2024 |
- Case |
- Faculty Research
Grab Returns: Riding the SPAC-tacular Highway?
- November 2024 |
- Case |
- Faculty Research
The Evolution of Financial Services in the United States
- 2024 |
- Working Paper |
- Faculty Research
Moonfare and the Democratization of Private Equity
- November 2024 |
- Case |
- Faculty Research
The Problem of Good Conduct Among Financial Advisers
- Fall 2024 |
- Article |
- Journal of Economic Perspectives
Political Polarization and Finance
- 2024 |
- Article |
- Annual Review of Financial Economics
Perceptions About Monetary Policy
- November 2024 |
- Article |
- Quarterly Journal of Economics
Harvard Business Publishing
Seminars & Conferences
- 11 Dec 2024