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      • Faculty Publications  (251)

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      • Forthcoming
      • Article

      Corporate Alignment with the EU Taxonomy for Sustainable Activities: First Evidence from Financial Accounting Data

      By: Alex Cheema-Fox, Megan Czasonis, Piyush Kontu and George Serafeim
      What is sustainable? This question is of paramount importance given the trillions of assets invested according to different sustainability criteria. While until now we have had no standard for answering this question, the European Union's (EU) Taxonomy for sustainable... View Details
      Keywords: Financial Accounting; Capital Expenditures; Revenues; Sustainability; Regulation; Accounting; Finance; Climate Change; Environmental Sustainability; Corporate Disclosure; Europe; European Union
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      Cheema-Fox, Alex, Megan Czasonis, Piyush Kontu, and George Serafeim. "Corporate Alignment with the EU Taxonomy for Sustainable Activities: First Evidence from Financial Accounting Data." Journal of Applied Corporate Finance (forthcoming). (Pre-published online April 24, 2025.)
      • Research Summary

      Corporate transparency and information disclosure strategies

      By: Michael W. Toffel
      This research focuses on transparency and information disclosure strategies, a topic of growing importance in environmental sustainability, corporate strategy, stakeholder relations, and public policy.  My prior research in this area explored why... View Details
      Keywords: Transparency; Disclosure Strategy; Disclosure; Environment; Environmental Performance; Regulation; Supply Chain; Environmental Sustainability; United States
      • Forthcoming
      • Article

      Disclosure Standards and Communication Norms: Evidence of Voluntary Sustainability Standards as a Coordinating Device for Capital Markets

      By: Khrystyna Bochkay, Jeffrey Hales and George Serafeim
      In this paper, we examine how the development of voluntary sustainability standards has affected the nature of information covered in conference calls. Using industry-specific dictionaries of sustainability terms contained in the disclosure standards developed by the... View Details
      Keywords: Voluntary Disclosure; Accounting Standards; Sustainability Reporting; Sustainability Standards; ESG; ESG Disclosure; Accounting; Corporate Disclosure; Environmental Sustainability; Corporate Social Responsibility and Impact; Standards; United States
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      Bochkay, Khrystyna, Jeffrey Hales, and George Serafeim. "Disclosure Standards and Communication Norms: Evidence of Voluntary Sustainability Standards as a Coordinating Device for Capital Markets." Review of Accounting Studies (forthcoming). (Pre-published online March 17, 2025.)
      • Forthcoming
      • Article

      Legislators' Demand for Firms' Financial Statements: Evidence from U.S. Congressional Redistricting Events

      By: Matthew Ma, Jing Pan, Ethan Rouen and Laura Wellman
      We investigate whether U.S. House representatives and their staff seek financial information from constituent firms to inform their legislative decisions. We exploit shifts in U.S. congressional districts (i.e., the reconfiguration of federal district lines or... View Details
      Keywords: Redistricting; Lobbying; Legislators; Voting Behavior; Corporate Disclosure; Government Legislation; Voting; Behavior
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      Ma, Matthew, Jing Pan, Ethan Rouen, and Laura Wellman. "Legislators' Demand for Firms' Financial Statements: Evidence from U.S. Congressional Redistricting Events." Review of Accounting Studies (forthcoming). (Pre-published online July 7, 2025.)
      • Teaching Interest

      Overview

      By: John F. Batter
      As as Senior Lecturer I teach the EC course Law, Management and Entrepreneurship (cross-listed in the General Management and Entrepreneurial Management Units) in both the Fall and Spring semesters. While I have retired from my public and private company litigation... View Details
      Keywords: Fiduciary Duty; Securities; Private Equity; Entrepreneurship; Mergers; Law
      • Research Summary

      Overview

      By: Paul M. Healy
      My current research examines the role that boards of directors and senior management play in governing an organization. My interests focus on two areas. First, I examine factors that increase the effectiveness of board governance. And second, I explore how leadership... View Details
      • Research Summary

      Overview

      By: Rob Markey
      Most companies' leaders declare their commitment to delivering value to customers. Many have adopted language such as "customer-centric" or "customer-obsessed." Companies that consistently earn top marks for customer loyalty in their industry deliver total shareholder... View Details
      Keywords: Customer Base Analysis; Customer Lifetime Value; Customer Experience; Customer Loyalty; Service Profit Chain; Management Accounting; Project Evaluation And Resource Allocation; Customer Value and Value Chain; Customer Satisfaction; Valuation; Customer Focus and Relationships
      • Research Summary

      Overview

      By: Joshua Lev Krieger
      In examining the competitive dynamics of R&D strategy, Josh has become particularly interested in how the introduction of new knowledge generated by rivals impacts the direction of R&D efforts. Understanding how new information alters project portfolio decisions is... View Details
      • Research Summary

      Overview

      By: Ethan C. Rouen
      Relying on empirical archival methodologies—as well as techniques in data science—to develop and structure new sources of data by which to approach questions of looming disclosure changes, Professor Rouen has focused on one of the Securities and Exchange Commission’s... View Details
      • Forthcoming
      • Article

      Public Disclosure of Private Meetings: Does Observing Peers’ Information Acquisition Affect Analysts’ Attention Allocation?

      By: Yi Ru, Ronghuo Zheng and Yuan Zou
      We investigate the impact of observing peers’ information acquisition on financial analysts’ allocation of attention. Using the timely disclosure mandate by the Shenzhen Stock Exchange as a setting, we find that, shortly after analysts observe that a firm has been... View Details
      Keywords: Corporate Disclosure; Information; Financial Institutions; Accounting; Financial Markets; Financial Services Industry; China
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      Ru, Yi, Ronghuo Zheng, and Yuan Zou. "Public Disclosure of Private Meetings: Does Observing Peers’ Information Acquisition Affect Analysts’ Attention Allocation?" Journal of Accounting Research (forthcoming). (Pre-published online March 3, 2025.)
      • Research Summary

      Undisclosed Debt Sustainability

      By: Laura Alfaro
      Over the past decade, non-Paris Club creditors, notably China, have become an important source of financing for low- and middle-income countries. In contrast with typical sovereign debt, these lending arrangements are not public, and other creditors have no information... View Details
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