Publications

2015
Working Paper

The Integrity of Private Third-party Compliance Monitoring

By: Jodi L. Short and Michael W. Toffel

Government agencies are increasingly turning to private, third-party monitors to inspect and assess regulated entities’ compliance with law. The integrity of these regulatory regimes rests on the validity of the information third-party monitors provide to regulators.... View Details

SSRN

05 Jan 2016
Working Paper Summaries

The Integrity of Private Third-party Compliance Monitoring

Keywords: by Michael W. Toffel & Jodi L. Short; Manufacturing; Public Administration; Accounting; Service

September–October 2013
Article

The Role of Organizational Scope and Governance in Strengthening Private Monitoring

By: Lamar Pierce and Michael W. Toffel

Governments and other organizations often outsource activities to achieve cost savings from market competition. Yet such benefits are often accompanied by poor quality resulting from moral hazard, which can be particularly onerous when outsourcing the monitoring and... View Details

September 2016
Article

Monitoring Global Supply Chains

By: Jodi L. Short, Michael W. Toffel and Andrea R. Hugill

Firms seeking to avoid reputational spillovers that can arise from dangerous, illegal, and unethical behavior at supply chain factories are increasingly relying on private social auditors to provide strategic information about suppliers' conduct. But little is known... View Details

Keywords: Monitoring; Transaction Cost Economics; Industry Self-regulation; Auditing; Codes Of Conduct; Supply Chains; Corporate Social Responsibility; Corporate Social Responsibility and Impact; Supply Chain; Globalization

18 Aug 2010
Working Paper Summaries

The Role of Organizational Scope and Governance in Strengthening Private Monitoring

Keywords: by Lamar Pierce & Michael W. Toffel

18 Feb 2011
Conference Presentation

The Role of Organizational Scope and Governance in Strengthening Private Monitoring

By: Michael W. Toffel

Keywords: Organizations; Governance

25 Jun 2012 - 2012
Conference Presentation

The Role of Organizational Scope and Governance in Strengthening Private Monitoring

By: Michael W. Toffel

25 Apr 2012 - 2012
Conference Presentation

The Role of Organizational Scope and Governance in Strengthening Private Monitoring

By: Michael W. Toffel

Article

Delayed-Response Strategies in Repeated Games with Observation Lags

By: Drew Fudenberg, Yuhta Ishii and Scott Duke Kominers

We extend the folk theorem of repeated games to two settings in which players' information about others' play arrives with stochastic lags. In our first model, signals are almost-perfect if and when they do arrive, that is, each player either observes an almost-perfect... View Details

Keywords: ＂Repeated Games＂; Folk Theorem; Private Monitoring; Observation Lag; Game Theory

Article

Do Private Equity Firms Have Better Management Practices?

By: Nicholas Bloom, Raffaella Sadun and John Van Reenen

Using an innovative survey measure of management practices on over 15,000 firms, we find private equity firms are better managed than government, family, and privately owned firms, and have similar management to publicly listed firms. This is true both in developed and... View Details

Keywords: Private Equity; Management Practices and Processes

Program

Private Equity and Venture Capital

Summary Tax reforms, regulatory uncertainty, and global market volatility are creating a more complex investment environment, but the outlook for private equity remains strong. This investment management course provides the frameworks you... View Details

Keywords: Finance; Finance

12 Sep 2016
Research & Ideas

What Brands Can Do to Monitor Factory Conditions of Suppliers

of monitoring by private civil-society actors can be particularly valuable in countries where government labor inspection agencies are weak.” That finding in particular may be helpful not only to a company... View Details

Keywords: by Michael Blanding

November 2007
Article

If Private Equity Sized Up Your Business

By: Robert C. Pozen

This article includes a one-page preview that quickly summarizes the key ideas and provides an overview of how the concepts work in practice along with suggestions for further reading. As the dust settles on the recent frenzy of private equity deals (including... View Details

Keywords: Mergers and Acquisitions; Capital Structure; Private Equity; Investment Return; Governing and Advisory Boards; Executive Compensation; Business and Shareholder Relations; Value Creation; Financial Services Industry

Purchase

January 2009 (Revised October 2009)
Case

GLOBALGAP: Food Safety and Private Standards

By: David E. Bell and Mary Louise Shelman

In response to new laws governing liability and several food safety scares in the 1990s, European retailers drove the creation of a universal production standard based on Good Agricultural Practices (GAP) for fresh fruit and vegetables and a third-party certification... View Details

Keywords: Agribusiness; Food; Governance Compliance; Governing Rules, Regulations, and Reforms; Business and Government Relations; Safety; Agriculture and Agribusiness Industry; Europe

Educators

Purchase

Summer 2023
Article

(Un)principled Agents: Monitoring Loyalty after the End of the Royal African Company Monopoly

By: Anne Ruderman and Marlous van Waijenburg

The revocation of the Royal African Company's monopoly in 1698 inaugurated a transformation of the transatlantic slave trade. While the RAC’s exit from the slave trade has received scholarly attention, little is known about the company’s response to the loss of its... View Details

Keywords: Slavery; Organizational Change and Adaptation; Business History; Monopoly; History; Business and Government Relations

Purchase

2025
Working Paper

Private Equity and Workers: Modeling and Measuring Monopsony, Reallocation, and Trust

By: Kyle Herkenhoff, Josh Lerner, Gordon M. Phillips, Francisca Rebelo and Benjamin Sampson

We measure the real effects of private equity buyouts on worker outcomes by building a new database that links transactions to matched employer-employee data in the United States. To guide our empirical analysis, we derive testable implications from three theories in... View Details

Keywords: Monopsony; Market Power; Productivity; Private Equity; Employment; Wages; Employees