Publications

Article

The Power of Political Voice: Women's Political Representation and Crime in India

By: Lakshmi Iyer, Anandi Mani, Prachi Mishra and Petia Topalova

Using state-level variation in the timing of political reforms, we find that an increase in female representation in local government induces a large and significant rise in documented crimes against women in India. Our evidence suggests that this increase is good... View Details

Keywords: Leadership; Crime and Corruption; Rank and Position; Performance Effectiveness; Gender; Government and Politics; India

2010
Working Paper

Banking Market Concentration and Consumer Credit Constraints: Evidence from the 1983 Survey of Consumer Finances

This paper uses data from the 1983 Survey of Consumer Finances to test the relationship between the banks' market power and households' self-reported levels of credit constraints. The 1983 Survey was the last to identify households' geographic location, making it... View Details

Keywords: Age Characteristics; Household Characteristics; Borrowing and Debt; Credit; Banks and Banking; Interest Rates; Geographic Location; Banking Industry

2009
Working Paper

Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets?

By: Shawn A. Cole, Thomas Sampson and Bilal Zia

Financial development is critical for growth, but its micro-determinants are not well understood. We test leading theories of low demand for financial services in emerging markets, combining novel survey evidence from Indonesia and India with a field experiment. We... View Details

Keywords: Banks and Banking; Saving; Knowledge Acquisition; Emerging Markets; Motivation and Incentives; Financial Services Industry; India; Indonesia

Article

Businessmen and Land Ownership in the Late Nineteenth Century

By: Tom Nicholas

This article analyses the proportions of personal to real estate wealth for a group of 295 businessmen profiled in the Dictionary of business biography. It shows that businessmen who owned land on a large scale in the late nineteenth century were a comparatively small... View Details

Keywords: Ownership; Personal Finance; Property; Biography; History; Acquisition; Wealth; Power and Influence; Status and Position; Integration; Transformation; Market Transactions

06 Jul 2016
News

The UX Secret That Will Ruin Apps For You

Signaling with Dividends

We outline a dividend signaling model that features investors who are behaviorally averse to dividend cuts. Managers with strong unobservable cash earnings separate by paying high dividends but retain enough to be likely not to fall short next period. The model is... View Details

Will a Five-Minute Discussion Change Your Mind? A Countrywide Experiment on Voter Choice in France

This paper provides the first estimate of the effect of door-to-door canvassing on actual electoral outcomes, via a countrywide experiment embedded in Francois Hollande’s campaign in the 2012 French presidential election. While existing experiments randomized... View Details

2022
Article

Climate Change Vulnerability and Currency Returns

By: Alex Cheema-Fox, George Serafeim and Hui (Stacie) Wang

Using measures of physical risk from climate change, we develop a methodology to allocate currency pairs according to a country’s vulnerability and construct portfolios with decreasing vulnerability to physical risk. We show that non-G10 currencies are more vulnerable... View Details

Keywords: Climate Finance; Vulnerabilities; Currencies; Foreign Exchange; Climate Change; Currency; Natural Disasters

February 2024
Supplement

Can Cities Beat the Heat? (B1): Birmingham Climate Action Snapshot

By: Rosabeth Moss Kanter, Natania Elias and Jacob A. Small

Climate snapshots provide a summary of climate actions that occurred between 2018 and 2024, highlighting major green initiatives, innovations, carbon mitigation strategy, and action across multiple levels of government and the private sector. Snapshots also provide an... View Details

Keywords: Mitigation Policies; Carbon Footprint; Climate Finance; Mobility; Adaptation; Renewable Energy; Climate Change; Problems and Challenges; Sustainable Cities; City; Innovation Strategy; Investment; United States; Alabama

February 2024
Supplement

Can Cities Beat the Heat? (B7): Milwaukee Climate Action Snapshot

By: Rosabeth Moss Kanter, Coelin P. Scibetta and Jacob A. Small

Climate snapshots provide a summary of climate actions that occurred between 2018 and 2024, highlighting major green initiatives, innovations, carbon mitigation strategy, and action across multiple levels of government and the private sector. Snapshots also provide an... View Details

Keywords: Cities; Climate; Climate Impact; Innovation; Mitigation Policies; Carbon Footprint; Investing; Climate Finance; Mobility; Adaptation; Renewable Energy; Climate Change; Problems and Challenges; Sustainable Cities; United States; Wisconsin

February 2024
Supplement

Can Cities Beat the Heat? (B9): Nashville Climate Action Snapshot

By: Rosabeth Moss Kanter and Jacob A. Small

Climate snapshots provide a summary of climate actions that occurred between 2018 and 2024, highlighting major green initiatives, innovations, carbon mitigation strategy, and action across multiple levels of government and the private sector. Snapshots also provide an... View Details

Keywords: Mitigation Policies; Carbon Footprint; Climate Finance; Mobility; Adaptation; Renewable Energy; Climate Change; Problems and Challenges; Sustainable Cities; City; Innovation Strategy; Investment; United States; Tennessee

2022
Working Paper

How Do Investors Value ESG?

By: Malcolm Baker, Mark Egan and Suproteem K. Sarkar

Environmental, social, and governance (ESG) objectives have risen to near the top of the agenda for corporate executives and boards, driven in large part by their perceptions of shareholder interest. We quantify the value that shareholders place on ESG using a revealed... View Details

Keywords: Investment; Investment Portfolio; Corporate Social Responsibility and Impact; Business and Shareholder Relations; Environmental Sustainability; Governance; Financial Services Industry; United States

25 Mar 2011
Working Paper Summaries

How Do Incumbents Fare in the Face of Increased Service Competition?

Keywords: by Ryan W. Buell, Dennis Campbell & Frances X. Frei; Banking

23 Mar 2011
Working Paper Summaries

Do US Market Interactions Affect CEO Pay? Evidence from UK Companies

Keywords: by Joseph J. Gerakos, Joseph D. Piotroski & Suraj Srinivasan

08 May 2008
Working Paper Summaries

Organizational Design and Control across Multiple Markets: The Case of Franchising in the Convenience Store Industry

Keywords: by Dennis Campbell, Srikant M. Datar & Tatiana Sandino; Retail; Food & Beverage

17 Apr 2008
Working Paper Summaries

Diffusing Management Practices within the Firm: The Role of Information Provision

Keywords: by Michael J. Lenox & Michael W. Toffel; Technology

2012
Working Paper

Unobserved State Fragility and the Political Transfer Problem

By: Faisal Z. Ahmed and Eric Werker

Autocrats experiencing a windfall in unearned income may find it optimal to donate to other countries some of the windfall in order to make the state a less attractive prize to potential insurgents. We put forward a model that makes that prediction, as well as the... View Details

Keywords: International Finance; Non-Renewable Energy; International Relations; Economics

March–April 2012
Article

The Rise and Fall of Small Worlds: Exploring the Dynamics of Social Structure

By: Ranjay Gulati, Maxim Sytch and Adam Tatarynowicz

This paper explores the interplay between social structure and economic action by examining some of the evolutionary dynamics of an emergent network that coalesces into a small-world system. The study highlights the small-world system's evolutionary dynamics at both... View Details

Keywords: Culture; System; Relationships; Globalization; Industry Clusters; Information; Networks; Competitive Strategy; Computer Industry

2011
Other Unpublished Work

The Performance Effects of Regulatory Oversight

This paper explores the heterogeneity in firm performance that can arise from exogenously varying levels of oversight in regulated industries. We use data on the performance of U.S. commercial banks to show that banks located physically closer to their supervisors'... View Details

Keywords: Performance; Corporate Governance