Publications

2003
Article

The Influence of Culture and Corporate Governance on the Characteristics that Distinguish Superior Analysts

By: Michael B. Clement, Lynn Rees and Edward Swanson

We identify characteristics of financial analysts that have been shown to be associated with relative forecast accuracy in the United States and examine these characteristics within 10 countries. We find that relative forecast accuracy is influenced by years of... View Details

Keywords: Forecasting and Prediction; Performance Evaluation

Research Summary

Selection, Reallocation, and Spillover: Identifying the Sources of Gains from Multinational Production (with Maggie Chen)

By: Laura Alfaro

Quantifying the gains from multinational production has been a vital topic of economic research. Positive productivity gains are often attributed to knowledge spillover from multinational to domestic firms. An alternative, less stressed explanation is firm selection... View Details

Keywords: Gains From Multinational Production; Firm Selection; Knowledge Spillover

August 2019
Case

Preserving Trust at Care.com (A)

By: Krishna G. Palepu and Julia Kelley

Care.com was an online platform designed to match caregivers with individuals seeking care for themselves, others, and pets, through job postings, caregiver profiles, and directories of local day care centers. In March 2019, the Wall Street Journal had just published a... View Details

Keywords: Business Strategy; Corporate Governance; Digital Platforms; Market Design; Emerging Markets; Trust; Technology Industry; United States

November 7, 2017
Article

Temporary Sharing Prompts Unrestrained Disclosures That Leave Lasting Negative Impressions

By: Reto Hofstetter, Roland Rüppell and Leslie John

With the advent of social media, the impressions people make on others are based increasingly on their digital disclosures. Yet digital disclosures can come back to haunt, making it challenging for people to manage the impressions they make. In field and online... View Details

Keywords: Disclosure; Privacy; Self-presentation; Impression Formation; Behavior; Perspective; Internet and the Web; Social Media

2019
Working Paper

Decarbonization Factors

By: Alex Cheema-Fox, Bridget LaPerla, George Serafeim, David Turkington and Hui (Stacie) Wang

In the face of accelerating climate change, investors are making capital allocations seeking to decarbonize portfolios by reducing the carbon emissions of their holdings. To understand the performance of portfolio decarbonization strategies and investor behavior... View Details

Keywords: ESG; Investment Management; Factor Investing; Investor Behavior; Climate Change; Environmental Sustainability; Investment; Management

SSRN

March 2017
Article

Creativity in Unethical Behavior Attenuates Condemnation and Breeds Social Contagion: When Transgressions Seem to Create Little Harm

By: Scott S. Wiltermuth, Lynne C. Vincent and F. Gino

Across six studies, people judged creative forms of unethical behavior to be less unethical than less creative forms of unethical behavior, particularly when the unethical behaviors imposed relatively little direct harm on victims. As a result of perceiving behaviors... View Details

Keywords: Ethics; Perception; Creativity

1990
Article

Social Influences on Creativity: Evaluation, Coaction, and Surveillance

By: T. M. Amabile, P. Goldfarb and S. C. Brackfield

Two experiments examined the effects of evaluation expectation and the presence of others on creativity. In both experiments, some subjects expected that their work would be evaluated by experts, and others expected no evaluation. Evaluation expectation was crossed, in... View Details

Keywords: Creativity; Social Psychology; Situation or Environment; Motivation and Incentives; Performance Evaluation

24 Feb 2016
Research & Ideas

Why It's Best to Take Tests Early in the Day

Here’s a tip for parents of school-aged children. If your kids must take a standardized test, it’s best to do so either first thing in the morning or right after recess. On average, students perform best on tests at the start of the... View Details

Keywords: by Carmen Nobel; Education

02 Aug 2016
First Look

August 2, 2016

forthcoming Organizational Behavior and Human Decision Processes Don't Stop Believing: Rituals Improve Performance by Decreasing Anxiety By: Brooks, Alison Wood, Julianna Schroeder, Jane Risen, Francesca Gino, Adam D. Galinsky, Michael I.... View Details

Keywords: Sean Silverthorne

November 1999
Case

Long-Term Capital Management, L.P. (C)

By: Andre F. Perold

Long-Term Capital Management, L.P. (LTCM) was in the business of engaging in trading strategies to exploit market pricing discrepancies. Because the firm employed strategies designed to make money over long horizons--from six months to two years or more--it adopted a... View Details

Keywords: Fluctuation; Capital; Financial Liquidity; Financing and Loans; Investment Funds; Investment Portfolio; Corporate Governance; Governing Rules, Regulations, and Reforms; Management; Risk Management; Markets; Motivation and Incentives; Financial Services Industry

2020
Working Paper

How Do Private Equity Fees Vary Across Public Pensions?

By: Juliane Begenau and Emil Siriwardane

We study how investment fees vary within private-capital funds. Net-of-fee return clustering suggests that most funds have two tiers of fees, and we decompose differences across tiers into both management and performance-based fees. Managers of venture capital funds... View Details

Keywords: Pension Funds; Fee Dispersion; Search And Negotiation Frictions; Private Equity; Investment Funds

SSRN

2005
Working Paper

Aggregate Corporate Liquidity and Stock Returns

By: Robin Greenwood

Aggregate investment in cash and liquid assets as a share of total corporate investment is negatively related to subsequent U.S. stock market returns between 1947 and 2003. The share of cash in total investment is a more stable predictor of returns than scaled price... View Details

Keywords: Stocks; Financial Liquidity; Cash; Investment Return; Corporate Finance

February 2022
Article

How Global Leaders Gain Power Through Downward Deference and Reduction of Social Distance

By: Tsedal Neeley and Sebastian Reiche

We theorize about how people with positional power enact downward deference—a practice of lowering oneself to be equal to that of lower power workers—based on a study of 115 top global leaders at a large U.S. company. These leaders were charged with advancing... View Details

Keywords: Leadership; Leadership Style; Global Range; Relationships; Rank and Position; Power and Influence; Cross-Cultural and Cross-Border Issues

Article

Mission-Driven Governance

By: Raymond Fisman, Rakesh Khurana and Edward Martenson

The purpose of this paper is to provide a useful, easily applied theory of governance performance. The existing model is fundamentally adversarial, rooted in the paradigm of principal-agent conflict. At its base is an image of governance as a never-ending struggle... View Details

Keywords: Corporate Governance; Governing and Advisory Boards; Knowledge Management; Standards; Mission and Purpose; Organizational Change and Adaptation; Performance Effectiveness; Performance Evaluation

Working Paper

The Long-Run Dynamics of Electricity Demand: Evidence from Municipal Aggregation

By: Tatyana Deryugina, Alexander MacKay and Julian Reif

Economic theory suggests that demand is more elastic in the long run relative to the short run, but evidence on the empirical relevance of this phenomenon is scarce. We study the dynamics of residential electricity demand by exploiting price variation arising from a... View Details

Keywords: Energy; Demand and Consumers; Price; Policy; Mathematical Methods

July 2014
Case

Paramount Equipment, Inc.

By: Carliss Y. Baldwin and Wei Wang

Paramount Equipment, Inc., based in Fort Wayne, Indiana, is a large manufacturer of cranes and compact construction equipment, aerial work platforms, and food service equipment. Founded in 1987, Paramount now had manufacturing operations in 24 countries. However, it... View Details

2023
Working Paper

Scoring and Funding Breakthrough Ideas: Evidence from a Global Pharmaceutical Company

By: Joshua Krieger, Ramana Nanda, Ian Hunt, Aimee Reynolds and Peter Tarsa

We study resource allocation to early-stage ideas at an internal startup program of one the largest pharmaceutical firms in the world. Our research design enables us to elicit every evaluator’s scores across five different attributes, before seeing how they would... View Details

Keywords: Project Selection; Pharmaceuticals; Financing Innovation; Resource Allocation; Innovation and Invention; Research and Development

November 1993
Supplement

Sierra On-Line (C): The Insiders' Perspective, An Interview with Ken and Roberta Williams

Presents the insiders' perspective using an interview format. Ken and Roberta Williams, Sierra's founders, discuss issues raised in the (A) and (B) cases and present their vision to become the world leader in educational software. Teaching Purpose: Analysts typically... View Details

Keywords: Performance Evaluation; Financial Statements; Management Teams; Education Industry