Publications

December 2021
Article

Trade Policy Uncertainty and Stock Returns

By: Marcelo Bianconi, Federico Esposito and Marco Sammon

A recent literature has documented large real effects of trade policy uncertainty (TPU) on trade, employment, and investment, but there is little evidence that investors are compensated for bearing such risk. To quantify the risk premium associated with TPU, we exploit... View Details

Keywords: Trade Policy; Uncertainty; Stock Returns; Risk Premium; Tariff Rates; Portfolio Analysis; Trade; Policy; Risk and Uncertainty; Stocks; Investment Return

SSRN

Today, corporate accountability is as vital to the bottom line as an effective business model. Value Shift makes a strong case for the merits of corporate responsibility and shows how a value-positive orientation contributes to superior performance through... View Details

04 Oct 2010
Research & Ideas

Introverts: The Best Leaders for Proactive Employees

We often expect corporate executives to conform to certain extroverted CEO stereotypes: C for charismatic, E for effusive, and O for outgoing. To wit: Virgin Group chairman Richard Branson, who very publicly flew around the world in a hot... View Details

Keywords: by Carmen Nobel

2012
Chapter

Integrated Reporting Requires Integrated Assurance

By: Robert G. Eccles, Michael P. Krzus and Liv A. Watson

In the wake of the recent financial crisis, increasing the effectiveness of auditing has weighed heavily on the minds of those responsible for governance. When a business is profitable and paying healthy dividends to its stockholders, fraudulent activities and... View Details

Keywords: Risk Management; Crime and Corruption; Integrated Corporate Reporting; Governance Compliance; Organizational Culture; Management Systems; Laws and Statutes; Information Management; Accounting Audits; Financial Crisis

2022
Working Paper

Turning Away From the State: Trade Shocks and Informal Insurance in Brazil

By: Paula Rettl

How does economic globalization affect vote choices? Conventional wisdom holds that voters who lose from economic integration support parties that propose to expand the welfare state. I argue that a key scope condition of this causal relationship is expectations about... View Details

Keywords: Economic Globalization; Globalized Economies; Government Administration; Economics; Globalization; Globalized Economies and Regions; Voting; Brazil; Latin America

26 Aug 2019
Research & Ideas

Lipstick Tips: How Influencers Are Making Over Beauty Marketing

rising from an estimated $2 billion in 2017 to about $8 billion in 2019. One forecast shows that spending is expected to jump to $15 billion by 2022. In fact, beauty giant Estée Lauder revealed last week that the company is now spending... View Details

Keywords: by Dina Gerdeman; Consumer Products; Beauty & Cosmetics

11 Aug 2015
Working Paper Summaries

Structural GARCH: The Volatility-Leverage Connection

Keywords: by Robert F. Engle & Emil N. Siriwardane

2011
Book

Being the Boss: The 3 Imperatives for Becoming a Great Leader

By: Linda A. Hill and Kent Lineback

You never dreamed being the boss would be so hard. You're caught in a web of conflicting expectations from subordinates, your supervisor, peers, and customers. You're constantly fighting fires. You're mired in office politics. You end each day exhausted and... View Details

Keywords: Management; Leadership; Management Skills; Employee Relationship Management; Personal Development and Career; Groups and Teams; Social and Collaborative Networks

January 2021
Article

A Model of Relative Thinking

By: Benjamin Bushong, Matthew Rabin and Joshua Schwartzstein

Fixed differences loom smaller when compared to large differences. We propose a model of relative thinking where a person weighs a given change along a consumption dimension by less when it is compared to bigger changes along that dimension. In deterministic settings,... View Details

Keywords: Relative Thinking; Econometric Models; Behavior; Cognition and Thinking

2016
Article

Buying to Blunt Negative Feelings: Materialistic Escape from the Self

By: Grant Edward Donnelly, Masha Ksendzova, Ryan Howell, Kathleen Vohs and Roy F. Baumeister

We propose that escape theory, which describes how individuals seek to free themselves from aversive states of self-awareness, helps explain key patterns of materialistic people’s behavior. As predicted by escape theory, materialistic individuals may feel dissatisfied... View Details

Keywords: Materialism; Escape; Self; Negative Emotions; Self-awareness; Emotions; Consumer Behavior; Identity; Motivation and Incentives

26 Oct 2015
News

Exposure To Harmful Workplace Practices Could Account For Inequality In Life Spans Across Different Demographic Groups

2011
Working Paper

The 'IKEA Effect': When Labor Leads to Love

By: Michael I. Norton, Daniel Mochon and Dan Ariely

In a series of studies in which consumers assembled IKEA boxes, folded origami, and built sets of Legos, we demonstrate and investigate the boundary conditions for what we term the "IKEA effect&"—the increase in valuation of self-made products. Participants saw their... View Details

Keywords: Investment; Labor; Resource Allocation; Valuation

May 2009 (Revised December 2009)
Case

Reliance Baking Soda: Optimizing Promotional Spending

By: John A. Quelch and Heather Beckham

Reliance Baking Soda is Stewart Corporation's oldest and most established product. The new Domestic Brand Director needs to create a 2008 marketing budget that delivers a profit increase of 10% over 2007 levels. She must first evaluate the effectiveness of past... View Details

Keywords: Communication Strategy; Quantitative Analysis; Consumer Marketing; Marketing Planning; Product Management; Sales Promotions; Program Budgeting; Marketing Strategy; Advertising; Product Marketing; Budgets and Budgeting; Sales; Consumer Products Industry

Educators

04 Nov 2013
Research & Ideas

The Real Cost of Bribery

that launch anticorruption efforts grow their businesses more slowly than firms that don't, especially in regions where bribery is the expected norm. “If you think of the cost [of bribery] as just fines and regulatory actions, you're... View Details

Keywords: by Carmen Nobel

June 2023
Case

Rent Control in Boston, Again?

By: Robin Greenwood, Richard S. Ruback, Robert Ialenti and Tom Quinn

This case explores the merits and drawbacks of Boston Mayor Michelle Wu’s proposal to bring rent control back to the city in 2023. It lays out the features, objectives, and potential unintended consequences of this policy, before highlighting the expected impact of... View Details

Keywords: Renting or Rental; Housing; Urban Development; Policy; Boston; Massachusetts

Educators

December 2014
Article

Selecting the Best? Spillover and Shadows in Elimination Tournaments

By: Jennifer Brown and Dylan B. Minor

We consider how past, current, and future competition within an elimination tournament affect the probability that the stronger player wins. We present a two-stage model that yields the following main results: (1) a shadow effect—the stronger the expected future... View Details

Keywords: Elimination Tournament; Dynamic Contest; Contest Design; Effort Choice; Betting Markets; Competitive Advantage; Game Theory

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

Educators