Publications

SSRN

17 Aug 2006
Working Paper Summaries

Corporate Governance and Networks: Bankers in the Corporate Networks of Brazil, Mexico, and the United States circa 1910

Keywords: by Aldo Musacchio

Research Summary

Bringing Individuals Back In: The Effects of Career Experience on New Firm Founding (forthcoming Industrial and Corporate Change, 2003)

By: Rakesh Khurana

In this paper (with Scott Shane) the link between the career experiences of potential entrepreneurs and the decision to found a new firm is explored. Because of methodological and theoretical obstacles, sociological research on organizational foundings has largely... View Details

28 May 2024
In Practice

Job Search Advice for a Tough Market: Think Broadly and Stay Flexible

is that the types of skills needed are constantly evolving, so many employers prefer workers with a strong foundation in a variety of skills. This allows them to learn quickly and adapt to whatever new skills are required of them. Country... View Details

Keywords: by Rachel Layne

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

Keywords: Foreign Direct Investment; Financial Markets; Economic Growth; Cost; Wealth; Investment Return; Knowledge

2008
Working Paper

The Flattening Firm and Product Market Competition: The Effect of Trade Liberalization

By: Maria Guadalupe and Julie Wulf

This paper establishes a causal effect of competition from trade liberalization on various characteristics of organizational design. We exploit a unique panel dataset on firm hierarchies (1986-1999) of large U.S. firms and find that increasing competition leads firms... View Details

Keywords: Trade; Managerial Roles; Organizational Change and Adaptation; Organizational Design; Organizational Structure; Business Strategy; Competitive Strategy

Article

Why Do Firms Have 'Purpose'? The Firm's Role as a Carrier of Identity and Reputation

By: Rebecca Henderson and Eric Van den Steen

Why do so many firms publicly espouse a "purpose" beyond simple profit maximization? And why do so many managers and employees appear to care deeply about this purpose and to believe that it is critically important? In this paper we argue that the conventional answers... View Details

Keywords: Mission and Purpose; Corporate Social Responsibility and Impact; Identity; Reputation

31 Aug 2020
Working Paper Summaries

The Pass-Through of Uncertainty Shocks to Households

Keywords: by Marco Di Maggio, Amir Kermani, Rodney Ramcharan, Vincent Yao, and Edison Yu

21 Sep 2012
Working Paper Summaries

Public Procurement and the Private Supply of Green Buildings

Keywords: by Timothy Simcoe & Michael W. Toffel

November 2020
Article

Accelerator or Brake? Cash for Clunkers, Household Liquidity, and Aggregate Demand

By: Daniel Green, Brian Melzer, Jonathan Parker and Arcenis Rojas

This paper evaluates the Car Allowance Rebate System (CARS) by comparing the vehicle purchases and disposals of households with eligible "clunkers" to those of households with similar, but ineligible, vehicles. CARS caused roughly 500,000 purchases during the program... View Details

Keywords: Automobiles; Purchasing; Government Incentives; Household; Financial Liquidity; Income; Behavior

21 Jan 2011
Working Paper Summaries

Learning from Customers in Outsourcing: Individual and Organizational Effects

Keywords: by Jonathan R. Clark, Robert S. Huckman & Bradley R. Staats

2007
Other Unpublished Work

Positions of Power and Status: Reciprocity in the Venture Capital Industry

By: Mikolaj Jan Piskorski

This paper proposes a straightforward way of differentiating between central network positions that confer power from those that confer status. I argue that actors achieve high status by receiving numerous exchanges from actors who receive numerous exchanges from... View Details

Keywords: Venture Capital; Power and Influence; Opportunities; Status and Position

2012
Discussion Paper

Labor Productivity and Quality Change in Singapore: Achievements in 1974-2011 and Prospects for the Next Two Decades

By: Koji Nomura and Tomomichi Amano

Labor productivity growth in Singapore that has grown at a rate of over 3.0 percent per year since 1970s considerably slowed down to 0.5 percent on average per annum in the latter half of the 2000s. The purpose of this paper is to ask, first, to what extent Singapore’s... View Details

Keywords: Labor; Performance Productivity; Quality; Economic Growth; Singapore

19 Feb 2007
Research & Ideas

Inexperienced Investors and Market Bubbles

out he was right. Q: How did your research advance previous knowledge on bubble formation, "herd" mentality, and other work in this area? A: While there are scores of anecdotal accounts of inexperienced investors being lured... View Details

Keywords: by Sean Silverthorne; Financial Services

2023
Working Paper

The Effects of Cryptocurrency Wealth on Household Consumption and Investment

By: Darren Aiello, Scott R. Baker, Tetyana Balyuk, Marco Di Maggio, Mark J. Johnson and Jason Kotter

This paper uses transaction-level data across millions of accounts to identify cryptocurrency investors and evaluate how fluctuations in individual crypto wealth affect household consumption, equity investment, and local real estate markets. We estimate an MPC out of... View Details

Keywords: Cryptocurrency; Marginal Propensity To Consume; Household Balance Sheet; Real Estate; Etherium; Bitcoin; Investment; Housing; Spending

SSRN

January – March 2012
Article

Bond Risk, Bond Return Volatility, and the Term Structure of Interest Rates

By: Luis M. Viceira

This paper explores time variation in bond risk, as measured by the covariation of bond returns with stock returns and with consumption growth, and in the volatility of bond returns. A robust stylized fact in empirical finance is that the spread between the yield on... View Details

Keywords: Bonds; Volatility; Forecasting and Prediction; Interest Rates; Inflation and Deflation; Investment Return; Risk and Uncertainty; Currency Exchange Rate; Cash Flow; Stocks

2021
Working Paper

The Value of Data and Its Impact on Competition

By: Marco Iansiti

Common regulatory perspective on the relationship between data, value, and competition in online platforms has increasingly centered on the volume of data accumulated by incumbent firms. This view posits the existence of "data network effects," where more data leads to... View Details

Keywords: Online Platforms; Data Network Effects; Analytics and Data Science; Value; Competition; Digital Platforms

SSRN

Article

Management Practices, Relational Contracts and the Decline of General Motors

By: Susan Helper and Rebecca Henderson

General Motors was once regarded as one of the best managed and most successful firms in the world, but between 1980 and 2009 its share of the U.S. market fell from 62.6% to 19.8%, and in 2009 the firm went bankrupt. In this paper we argue that the conventional... View Details

Keywords: Organizational Design; Management Practices and Processes; Insolvency and Bankruptcy; Manufacturing Industry; Auto Industry; United States

Forthcoming
Article

Racial Discrimination and the Social Contract: Evidence from U.S. Army Enlistment During WWII

By: Nancy Qian and Marco Tabellini

This paper documents that the Pearl Harbor attack triggered a sharp increase in volunteer enlistment rates of American men, the magnitude of the increase was smaller for Black men than for white men and the Black-white gap was larger in counties with higher levels of... View Details

Keywords: State Capacity; Institutions; War; History; Race; Prejudice and Bias; Government Administration