Publications

Customer orientation is a central tenet of marketing. However, less is known about how customer orientation varies across countries and time. Mintz, Currim, and Deshpandé (Eur. J. Mark., 56: 1014–1041, 2022) propose a country-level construct, national customer... View Details

Article

Search-Based Peer Firms: Aggregating Investor Perceptions Through Internet Co-Searches

By: Charles M.C. Lee, Paul Ma and Charles C.Y. Wang

Applying a "co-search" algorithm to Internet traffic at the SEC's EDGAR website, we develop a novel method for identifying economically-related peer firms and for measuring their relative importance. Our results show that firms appearing in chronologically adjacent... View Details

Keywords: Peer Firm; EDGAR Search Traffic; Revealed Preference; Co-search; Industry Classification; Perception; Internet and the Web; Investment

2022
Book

A Political Economy of Justice

By: Danielle Allen, Yochai Benkler, Leah Downey, Rebecca Henderson and Joshua Simons

Defining a just economy in a tenuous social-political time.
If we can agree that our current social-political moment is tenuous and unsustainable—and indeed, that may be the only thing we can agree on right now—then how do markets, governments, and people... View Details

Keywords: Political Economy; Social Justice; Capitalism; Business And Society; Economy; Society; Fairness; Economic Systems; Corporate Social Responsibility and Impact; United States

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2020
Article

Mutual Funds: Skill and Performance

By: Jonathan B. Berk, Jules van Binsbergen and Max Miller

The authors summarize the recent literature on mutual fund manager skill and performance. They discuss the latest contributions in the field and reinterpret them through the lens of the rational expectations framework (efficient market hypothesis). They further discuss... View Details

Keywords: Investment Return; Investment Portfolio; Financial Management; Performance Evaluation; Measurement and Metrics

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Article

Why Do Pro Forma and Street Earnings Not Reflect Changes in GAAP? Evidence from SFAS 123R

By: Ian D. Gow, Mary E. Barth and Daniel Taylor

This study examines how key market participants—managers and analysts—responded to SFAS 123R's controversial requirement that firms recognize stock-based compensation expense. Despite mandated recognition of the expense, some firms' managers exclude it from pro forma... View Details

Keywords: Motivation and Incentives; Employee Stock Ownership Plan

December 2001 (Revised June 2002)
Case

Compensation at Level 3 Communications

Level 3's unique compensation plan rewarded managers for the firm's performance only if the firm's stock price movement exceeded that of the market. This design was intended to maximize shareholder value by tying manager's performance more closely to that of the firm,... View Details

Keywords: Motivation and Incentives; Compensation and Benefits; Telecommunications Industry

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June 2023
Article

National Customer Orientation: An Empirical Test across 112 Countries

By: Ofer Mintz, Imran S. Currim and Rohit Deshpandé

Customer orientation is a central tenet of marketing. However, less is known about how customer orientation varies across countries and time. Mintz, Currim, and Deshpandé (Eur. J. Mark., 56: 1014–1041, 2022) propose a country-level construct, national customer... View Details

Keywords: Global Range; Customer Focus and Relationships

February 2014
Article

Accountability of Independent Directors—Evidence from Firms Subject to Securities Litigation

By: Francois Brochet and Suraj Srinivasan

We examine which independent directors are held accountable when investors sue firms for financial- and disclosure-related fraud. Investors can name independent directors as defendants in lawsuits, and they can vote against their re-election to express displeasure over... View Details

Keywords: Independent Directors; Litigation Risk; Class Action Lawsuits; Director Accountability; Reputation; Boards Of Directors; Corporate Governance; Debt Securities; Corporate Accountability; Lawsuits and Litigation

SSRN

2013
Working Paper

Accountability of Independent Directors—Evidence from Firms Subject to Securities Litigation

By: Francois Brochet and Suraj Srinivasan

We examine which independent directors are held accountable when investors sue firms for financial and disclosure related fraud. Investors can name independent directors as defendants in lawsuits, and they can vote against their re-election to express displeasure over... View Details

Keywords: Debt Securities; Lawsuits and Litigation; Legal Liability

SSRN

September 15, 2021
Article

Improving Deconvolution Methods in Biology Through Open Innovation Competitions: An Application to the Connectivity Map

By: Andrea Blasco, Ted Natoli, Michael G. Endres, Rinat A. Sergeev, Steven Randazzo, Jin Hyun Paik, N.J. Maximilian Macaluso, Rajiv Narayan, Xiaodong Lu, David Peck, Karim R. Lakhani and Aravind Subramanian

A recurring problem in biomedical research is how to isolate signals of distinct populations (cell types, tissues, and genes) from composite measures obtained by a single analyte or sensor. Existing computational deconvolution approaches work well in many specific... View Details

Keywords: Deconvolution; Methods; Open Innovation Competition; Genomics; Research; Innovation and Invention

May 2010
Article

Leadership Effort in Professional Radiology Associations

By: Srikant M. Datar, John Tan and Sanjay Saini

Professional associations advocate for their members' interests; provide forums for education, training, and certification; and support domain-specific research and development efforts. The purpose of this study was to determine the amount of resources devoted to the... View Details

Keywords: Leadership; Cooperation; Society; Health Industry

2020
Working Paper

Topic Preference Detection: A Novel Approach to Understand Perspective Taking in Conversation

By: Michael Yeomans and Alison Wood Brooks

Although most humans engage in conversations constantly throughout their lives, conversational mistakes are commonplace— interacting with others is difficult, and conversation re-quires quick, relentless perspective-taking and decision making. For example: during every... View Details

Keywords: Natural Language Processing; Interpersonal Communication; Perspective; Decision Making; Perception

May 2008
Article

Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes Oxley Periods

By: Daniel Cohen, Aiyesha Dey and Thomas Lys

We document that accrual‐based earnings management increased steadily from 1987 until the passage of the Sarbanes‐Oxley Act (SOX) in 2002, followed by a significant decline after the passage of SOX. Conversely, the level of real earnings management activities declined... View Details

Keywords: Earnings Management; Governing Rules, Regulations, and Reforms; Outcome or Result

11 Oct 2007
Working Paper Summaries

How Firms Respond to Being Rated

Keywords: by Aaron K. Chatterji & Michael W. Toffel

2024
Conference Paper

Quantifying Uncertainty in Natural Language Explanations of Large Language Models

By: Himabindu Lakkaraju, Sree Harsha Tanneru and Chirag Agarwal

Large Language Models (LLMs) are increasingly used as powerful tools for several high-stakes natural language processing (NLP) applications. Recent prompting works claim to elicit intermediate reasoning steps and key tokens that serve as proxy explanations for LLM... View Details

Keywords: Large Language Model; AI and Machine Learning

Article

Value of New Performance Information in Healthcare: Evidence from Japan

By: Susanna Gallani, Takehisa Kajiwara and Ranjani Krishnan

Mandatory measurement and disclosure of outcome measures are commonly used policy tools in healthcare. The effectiveness of such disclosures relies on the extent to which the new information produced by the mandatory system is internalized by the healthcare... View Details

Keywords: Value Of Information; Feedback; Patient Satisfaction; Healthcare; Health Care and Treatment; Satisfaction; Information; Measurement and Metrics; Performance Improvement

2020
Case

Building Transparency within the Sustainable Apparel Coalition: The Road to Successful Pre-Competitive Collaboration

By: Andrew J. Hoffman

The Sustainable Apparel Coalition (SAC) was founded in 2010 to develop a common set of sustainability standards for the apparel, footwear, and home textile industries. The organization was an example of pre-competitive collaboration, a strategy in which companies... View Details

Keywords: Environmental Sustainability; Cooperation; Social Issues; Governing and Advisory Boards; Corporate Social Responsibility and Impact; Performance Evaluation; Apparel and Accessories Industry