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Empire
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- spring 2006
- Article
All's Fair in Love, War & Bankruptcy?: Corporate Governance Implications of CEO Turnover in Financial Distress
Prior discussions of management turnover during financial distress have examined bankrupt and non-bankrupt firms as distinct groupings with little overlap. Separately investigating rates of turnover in-bankruptcy and out-of-bankruptcy, without a direct comparison... View Details
- February 2006 (Revised September 2006)
- Case
Tad O'Malley: June 2005
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
Tad O'Malley, a new associate at Empire Investment Group, a top-tier leveraged buyout firm, must evaluate three different deals and recommend which should receive additional resources for further investigation. He must consider the specifics of each company and each... View Details
- February 2006
- Article
Do Stronger Intellectual Property Rights Increase International Technology Transfer? Empirical Evidence from U.S. Firm-Level Panel Data
By: Lee G. Branstetter, Raymond Fisman and C. Fritz Foley
- 25 Aug 2005
- Conference Presentation
The Health and Safety of Quality Programs: An Empirical Evaluation
- 2005
- Working Paper
Do Stronger Intellectual Property Rights Increase International Technology Transfer? Empirical Evidence from U.S. Firm-Level Panel Data
By: Lee Branstetter, Raymond Fisman and C. Fritz Foley
- May 2005 (Revised April 2010)
- Case
GlaxoSmithKline: Reorganizing Drug Discovery (A)
By: Robert S. Huckman and Eli Strick
Describes the reorganization of drug discovery at GlaxoSmithKline (GSK) following the formation of GSK from the merger of Glaxo Wellcome and SmithKline Beecham. This reorganization placed nearly 2,000 research scientists into six centers of excellence in drug discovery... View Details
- 2005
- Other Unpublished Work
Corporate Financing Decisions When Investors Take the Path of Least Resistance
By: Malcolm Baker, Joshua Coval and Jeremy Stein
We explore the consequences for corporate financial policy that arise when investors exhibit inertial behavior. One implication of investor inertia is that, all else equal, a firm pursuing a strategy of equity-financed growth will prefer a stock-for-stock merger to... View Details
- 1 Apr 2005 - 4 Apr 2005
- Conference Presentation
Exploring the Structure of Complex Software Designs: An Empirical Study of Open Source and Proprietary Code
By: Alan MacCormack
- 2005
- Article
Early Decisions: A Regulatory Framework
By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
We describe a regulatory framework that helps consumers who have difficulty sticking to their own long-run plans. Early Decision regulations help long-run preferences prevail by allowing consumers to partially commit to their long-run goals, making it harder for a... View Details
- 2005
- Working Paper
Money Illusion in the Stock Market: The Modigliani-Cohn Hypothesis
By: Randolph B. Cohen, Christopher Polk and Tuomo Vuolteenaho
Modigliani and Cohn [1979] hypothesize that the stock market suffers from money illusion, discounting real cash flows at nominal discount rates. While previous research has focused on the pricing of the aggregate stock market relative to Treasury bills, the... View Details
- 24 Oct 2004 - 27 Oct 2004
- Conference Presentation
Empirical Research in Software Deveopment: Lessons from the Field
By: Alan MacCormack
- October 2004
- Article
Are Politicians Really Paid Like Bureaucrats?
By: Rafael Di Tella and Raymond Fisman
We provide the first empirical analysis of gubernatorial pay. Using U.S. data for 1950-90, we document substantial variation in the wages of politicians, both across states and overtime. Gubernatorial wages respond to changes in state income per capita and taxes. We... View Details
- 2004
- Working Paper
Exploring the Structure of Complex Software Designs: An Empirical Study of Open Source and Proprietary Code
By: Alan MacCormack, John Rusnak and Carliss Y. Baldwin
- October 2004
- Article
FDI and Economic Growth: The Role of Local Financial Markets
By: Laura Alfaro, Areendam Chanda, Sebnem Kalemli-Ozcan and Selin Sayek
The purpose of this paper is to examine the various links among foreign direct investment, financial markets and growth. We model an economy with a continuum of agents indexed by their level of ability. Agents have two choices: they can work for the foreign company in... View Details
- August 2004 (Revised December 2005)
- Case
Li Ka-Shing
By: Nitin Nohria and Bridget Gurtler
From his humble beginnings in China as a teacher's son, a refugee, and later as a salesman, Li provides a lesson in integrity and adaptability. Through hard work, and a reputation for remaining true to his internal moral compass, he was able to build a business empire... View Details
- May 2004
- Article
Disclosure Practices of Foreign Companies Interacting with U.S. Markets
We analyze the disclosure practices of companies as a function of their interaction with the U.S. markets for a group of 794 firms from 24 countries in Asia-Pacific and Europe. Our analysis uses the Transparency and Disclosure scores developed recently by Standard &... View Details
- spring 2004
- Article
Multinationals and Linkages: An Empirical Investigation
By: Laura Alfaro and Andres Rodriguez-Clare
Several recent papers have used plant-level data and panel econometric techniques to carefully explore the existence FDI externalities. One conclusion that emerges from this literature is that it is difficult to find evidence of positive externalities from... View Details