Publications

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Article

How Beliefs about Self-creation Inflate Value in the Human Brain

By: Raphael Koster, Tali Sharot, Rachel Yuan, Benedetto De Martino, Michael I. Norton and Raymond J. Dolan

Humans have a tendency to overvalue their own ideas and creations. Understanding how these errors in judgement emerge is important for explaining suboptimal decisions, as when individuals and groups choose self-created alternatives over superior or equal ones. We show... View Details

Keywords: fMRI; Amygdala; Hippocampus; Medial Temporal Lobe; Caudate Nucleus; Values and Beliefs

02 Oct 2017
What Do You Think?

Do Bitcoin and Digital Currency Have a Future?

hinder its transnational efficiency.” Farah commented, “Bitcoins are useful for trading currencies internationally seamlessly in real time—something current banks lack ” According to Kueth Duany, they are “proving to be another... View Details

Keywords: by James L. Heskett; Financial Services

February 2006 (Revised April 2006)
Case

Grove International Partners

By: Robert F. Higgins, Carin-Isabel Knoop and Suzanne Petrela

Grove International Partners, one of the world's largest international real estate private equity funds, is actively seeking new investment opportunities in the seniors housing industry. The firm has identified two potential opportunities--one located in Japan and one... View Details

Keywords: Decision Choices and Conditions; Private Equity; Investment; Opportunities; Financial Services Industry; Health Industry; Japan; United Kingdom

26 Sep 2017
First Look

First Look at New Research and Ideas, September 26, 2017

finer than official government statistics. In this paper, we present evidence that Yelp data can complement government surveys by measuring economic activity in close to real time, at a granular level. We... View Details

Keywords: Sean Silverthorne

25 Oct 2011
First Look

First Look: October 25

over the past decade as one of the most active areas of research in economics and strategy. The literature has constantly struggled, however, with a lack of agreement on a proper definition; for instance, some existing definitions imply... View Details

Keywords: Sean Silverthorne

2018
Working Paper

Patent Trolls: Evidence from Targeted Firms

By: Lauren Cohen, Umit G. Gurun and Scott Duke Kominers

We provide the first large-sample evidence on the behavior and impact of non-practicing entities (NPEs) in the intellectual property space. We find that on average, NPEs appear to behave as opportunistic “patent trolls.” NPEs sue cash-rich firms—and target cash in... View Details

Keywords: Patent Trolls; NPEs; PAEs; Innovation; Patents; Ethics; Lawsuits and Litigation; Innovation and Invention; Corporate Finance

Article

Work Group Rituals Enhance the Meaning of Work

By: Tami Kim, Ovul Sezer, Juliana Schroeder, Jane L. Risen, Francesca Gino and Michael I. Norton

The many benefits of finding meaning in work suggest the importance of identifying activities that increase job meaningfulness. The current paper identifies one such activity: engaging in rituals with workgroups. Five studies (N = 1,099) provide evidence that... View Details

Keywords: Groups; Meaningfulness; Task Meaning; Ritual; Teams; Organizational Citizenship; Groups and Teams; Behavior; Familiarity

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September 2015
Article

Speaking of the Short-Term: Disclosure Horizon and Managerial Myopia

By: Francois Brochet, Maria Loumioti and George Serafeim

We study conference calls as a voluntary disclosure channel and create a proxy for the time horizon that senior executives emphasize in their communications. We find that our measure of disclosure time horizon is associated with capital market pressures and executives'... View Details

Keywords: Short-termism; Management Styles; Disclosure; Conference Calls; Investing; Earnings Management; Motivation and Incentives; Management Style; Forms of Communication

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08 Jan 2007
What Do You Think?

Neuro Economics: Science or Science Fiction?

the growing use of MRI (magnetic resonance imaging) devices for studying decision making. The research follows a pattern. It is based on increasing knowledge that different parts of the brain demonstrate heightened activity when subjected... View Details

Keywords: by Jim Heskett

07 Aug 2012
Working Paper Summaries

Financial vs. Strategic Buyers

Keywords: by Marc Martos-Vila, Matthew Rhodes-Kropf & Jarrad Harford

02 Feb 2023
Research & Ideas

Why We Still Need Twitter: How Social Media Holds Companies Accountable

also picked up by major news outlets, including The New York Times. “It actually got a real response from United Airlines,” says Pacelli, noting that the CEO publicly apologized for the incident and United later agreed to settle a lawsuit... View Details

Keywords: by Kasandra Brabaw; Technology

February 2020
Case

Seso Global: Building a Blockchain-enabled Property Marketplace in Nigeria

By: Boris Vallee and Yang (Dolly) Yu

The mutual aspiration of addressing the housing shortage and improving real estate market efficiency led Daniel and Phillip to co-found Seso Global in 2017. Seso Global developed a unique integrated platform to streamline and rationalize the process of acquiring and... View Details

Keywords: Fintech; Blockchain; Developing Markets; Entrepreneurial Management; Financing and Loans; Internet and the Web; Business Model; Property; Growth and Development Strategy; Developing Countries and Economies; Real Estate Industry; Africa; Nigeria

16 Aug 2013
News

Schumpeter: In praise of laziness

March 2013 (Revised October 2013)
Case

Corporate Solutions at Jones Lang LaSalle (2001) (A)

By: Ranjay Gulati and Luciana Silvestri

This case describes the strategic and organizational challenges that Jones Lang LaSalle (JLL) faced at the turn of the millennium. Until then, JLL sold piecemeal commercial real estate services to its corporate clients, who maintained relationships with a variety of... View Details

Keywords: Organizational Structure; Strategy; Integration; Real Estate Industry; North America; South America; Central America

April 2005 (Revised November 2008)
Case

Banco Real: Banking on Sustainability

By: Rosabeth M. Kanter and Ricardo Reisen de Pinho

ABN AMRO REAL made corporate social responsibility central to its brand, adding to customer focus and reflecting its values. Leaders developed the Bank of Value theme and implemented it through activities such as microfinance in poor communities, environmentally... View Details

Keywords: Brands and Branding; Corporate Social Responsibility and Impact; Competitive Strategy; Competitive Advantage

November 2003 (Revised April 2004)
Case

Internal Governance and Control at Goldman Sachs: Block Trading

By: Malcolm S. Salter and Ratna Sarkar

Although the explicit problem presented in the case concerns pricing a block trade, the real issue involves the decision-making and oversight processes used to arrive at a price that is appropriate for both the client and Goldman Sachs. Asks students in assignment... View Details

Keywords: Price; Governance Controls; Trust; Organizational Culture; Decision Making; Financial Services Industry

02 Mar 2009
Research & Ideas

When Goal Setting Goes Bad

in many cases goals do more harm than good. Worse, they can cause real damage to organizations and individuals using them. "We argue that the beneficial effects of goal setting have been overstated and that systematic harm caused by goal... View Details

Keywords: by Sean Silverthorne

February 2023
Case

Roblox: Virtual Commerce in the Metaverse

By: Ayelet Israeli and Nicole Tempest Keller

In 2022, Roblox had 58.8 million daily active users, including over half of all children and teens under the age of 16 in the United States. Roblox, a free-to-use “co-experience platform”, allowed users to come together in immersive 3D experiences to socialize, work,... View Details

2013
Working Paper

Cross-Border Reverse Mergers: Causes and Consequences

By: Jordan Siegel and Yanbo Wang

We study non-U.S. companies that have used reverse mergers as a means to adopt U.S. corporate law (and sometimes U.S. securities law as well). Early adopters of cross-border reverse mergers and those firms that hired a Big Four auditor exhibited superior corporate... View Details

Keywords: Reverse Merger; Corporate Law; Corporate Governance; Nevada; United States

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