Publications

SSRN

December 2023
Article

Intermediary Balance Sheets and the Treasury Yield Curve

By: Wenxin Du, Benjamin Hebert and Wenhao Li

We document a regime change in the Treasury market post-Global Financial Crisis (GFC): dealers switched from net short to net long Treasury bonds. We construct “net-long” and “net-short” curves that account for balance sheet and financing costs, and show that actual... View Details

Keywords: Bonds; Financial Markets; Financial Crisis; Asset Pricing

2022
Article

When Regular Meets Remarkable: Awe as a Link between Routine Work and Meaningful Self-narratives

By: Elizabeth Sheprow and Spencer Harrison

Daily narratives of work can include a mix of ordinary actions and awe-inspiring moments that reveal a vaster, more meaningful reality. When awe is experienced in the context of work, it can prompt self-referential sensemaking about what these experiences mean for the... View Details

Keywords: Narratives; Meaning; Qualitative Method; Emotions; Identity; Employment

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2018
Working Paper

Two Hundred Years of Health and Medical Care: The Importance of Medical Care for Life Expectancy Gains

By: Maryaline Catillon, David Cutler and Thomas Getzen

Using two hundred years of national and Massachusetts data on medical care and health, we examine how central medical care is to life expectancy gains. While common theories about medical care cost growth stress growing demand, our analysis highlights the importance of... View Details

Keywords: Mortality; Life Expectancy; Medical Care; Productivity; Public Health; Healthcare Spending; Spending Per Year Of Life Gained; Personal Medicine; Technophysio Evolution; Health; Economics; Health Care and Treatment; Spending; Data and Data Sets; Health Industry

Using two hundred years of national and Massachusetts data on medical care and health, we examine how central medical care is to life expectancy gains. While common theories about medical care cost growth stress growing demand, our analysis highlights the importance of... View Details

Research Summary

Consumer-Brand Relationships and CRM

By: Jill J. Avery

This highly pragmatic stream investigates the contemporary practice of customer relationship management (CRM) by exploring the phenomenological, lived experience of consumers' relationships with brands. Using a contracting theory lens supplemented with knowledge of... View Details

Research Summary

Sovereigns, Upstream Capital Flows and Global Imbalances

By: Laura Alfaro

We construct measures of net private and public capital flows for a large cross-section of developing countries considering both creditor and debtor side of the international debt transactions. Using these measures, we demonstrate that sovereign-to-sovereign... View Details

2021
Working Paper

Racial Inequality in Organizations: A Systems Psychodynamic Perspective

By: Sanaz Mobasseri, William Kahn and Robin Ely

This paper uses systems psychodynamic concepts to develop a theory about the persistence of racial inequality in U.S. companies, treating White men as the dominant group and Black people as an illustrative subordinate group. We theorize that this persistence is rooted... View Details

Keywords: Systems Psychodynamics; Organizational Inequality; Masculinity; Equality and Inequality; Race; Gender; Identity; Power and Influence

Research Summary

Do Prices Determine Vertical Integration?*

By: Laura Alfaro

What is the relationship between product prices and vertical integration? While the literature has focused on how integration affects prices, this paper provides evidence that prices can affect integration. Many theories in organizational economics and industrial... View Details

October 2014
Article

Sovereigns, Upstream Capital Flows and Global Imbalances

By: Laura Alfaro, Sebnem Kalemli-Ozcan and Vadym Volosovych

We construct measures of net private and public capital flows for a large cross-section of developing countries considering both creditor and debtor side of the international debt transactions. Using these measures, we demonstrate that sovereign-to-sovereign... View Details

Keywords: Current Account; Aid/government Debt; Reserves; Puzzles; Productivity; Sovereign Finance; Developing Countries and Economies; Macroeconomics

2012
Book

Restoring Trust in Organizations and Leaders: Enduring Challenges and Emerging Answers

By: Roderick Kramer and Todd Lowell Pittinsky

Recent events around the world, especially in the financial sector and with respect to government performance, have severely undermined people’s trust in both private organizations and public institutions. In no small measure, these substantial and enduring declines in... View Details

Keywords: Trust; Leadership; Public Opinion; Social Psychology; Financial Services Industry; Public Administration Industry

Purchase

2011
Working Paper

Matthew: Effect or Fable?

In a market context, a status effect occurs when actors are accorded differential recognition for their efforts depending on their location in a status ordering, holding constant the quality of these efforts. In practice, because it is very difficult to measure... View Details

Keywords: Risk and Uncertainty; Status and Position; Measurement and Metrics; Quality

July 2016
Article

Do Prices Determine Vertical Integration?

By: Laura Alfaro, Paola Conconi, Harald Fadinger and Andrew F. Newman

What is the relationship between product prices and vertical integration? While the literature has focused on how integration affects prices, this paper provides evidence that prices can affect integration. Many theories in organizational economics and industrial... View Details

Keywords: Price; Vertical Integration; Product

2007
Working Paper

Modularity, Transactions, and the Boundaries of Firms: A Synthesis

By: Carliss Y. Baldwin

This paper constructs a unified theory of the location of transactions and the boundaries of firms. It proposes that systems of production can be viewed as networks of tasks. Transactions, defined as mutually agreed-upon transfers with compensation, are located... View Details

Keywords: Geographic Location; Market Entry and Exit; Market Transactions; Industry Structures; Production; Boundaries; Theory

October 1996
Article

Assessing the Work Environment for Creativity

By: T. M. Amabile, R. Conti, H. Coon, J. Lazenby and M. Herron

We describe the development and validation of a new instrument, KEYS: Assessing the Climate for Creativity, designed to assess perceived stimulants and obstacles to creativity in organizational work environments. The KEYS scales have acceptable factor structures,... View Details

Keywords: Creativity; Motivation and Incentives; Organizational Culture; Innovation and Invention; Groups and Teams; Performance; Research; Theory

February 2008
Article

Where Do Transactions Come From? Modularity, Transactions, and the Boundaries of Firms

By: Carliss Y. Baldwin

This article constructs a theory of the location of transactions and the boundaries of firms in a productive system. It proposes that systems of production can be viewed as networks, in which tasks-cum-agents are the nodes and transfers—of material, energy and... View Details

Keywords: Boundaries; Production; Market Transactions; Supply Chain; Management; Cost; Theory; Performance Productivity; Information Management; Complexity

28 Aug 2017
Research & Ideas

Should Industry Competitors Cooperate More to Solve World Problems?

Source: Cecilie_Arcurs George Serafeim has a startling suggestion to fix the world’s biggest environmental, social, and governance (ESG) problems such as water pollution, deforestation, and wealth inequality: encourage companies within industries to do less competing... View Details

Keywords: by Sean Silverthorne; Financial Services; Manufacturing; Agriculture & Agribusiness; Mining

2024
Working Paper

Moral Incoherence During Category Emergence: The Contentious Case of Connected Toys

By: Ryann Noe

Through a longitudinal study of the emergence of connected toys – physical toys that interact with digital devices – I build theory about moral incoherence: when competing views about the moral worth of a category persist over time. During the course of their... View Details

Keywords: Technological Innovation; Technology Adoption; Moral Sensibility; Market Entry and Exit; Consumer Behavior