• October 2015
• Article

Managing the Performance Tradeoffs from Partner Integration: Implications of Contract Choice in R&D Projects

By: Alan MacCormack and Anant Mishra

Formal contracts represent an important governance instrument with which firms exercise control of and compensate partners in R&D projects. The specific type of contract used, however, can vary significantly across projects. In some, firms govern partnering... View Details

Keywords: ＂＂Partner Integration; Contract Choice; R＆D Project Management; Relational Contracts; Partnering Performance; Research and Development; Projects; Partners and Partnerships; Performance; Contracts

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MacCormack, Alan, and Anant Mishra. "Managing the Performance Tradeoffs from Partner Integration: Implications of Contract Choice in R&D Projects." Production and Operations Management 24, no. 10 (October 2015): 1552–1569.

• October 6, 2015
• Article

Compared to Men, Women View Professional Advancement as Equally Attainable, but Less Desirable

By: Francesca Gino, Caroline Ashley Wilmuth and Alison Wood Brooks

Women are underrepresented in most high-level positions in organizations. While a great deal of research has provided evidence that bias and discrimination give rise to and perpetuate this gender disparity, in the current research, we explore another explanation: men... View Details

Keywords: Personal Development and Career; Gender

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Gino, Francesca, Caroline Ashley Wilmuth, and Alison Wood Brooks. "Compared to Men, Women View Professional Advancement as Equally Attainable, but Less Desirable." Proceedings of the National Academy of Sciences 112, no. 40 (October 6, 2015).

• 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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Brochet, Francois, Maria Loumioti, and George Serafeim. "Speaking of the Short-Term: Disclosure Horizon and Managerial Myopia." Review of Accounting Studies 20, no. 3 (September 2015): 1122–1163.

• August 2015
• Article

A Comparative-Advantage Approach to Government Debt Maturity

By: Robin Greenwood, Samuel G. Hanson and Jeremy C. Stein

We study optimal government debt maturity in a model where investors derive monetary services from holding riskless short-term securities. In a setting where the government is the only issuer of such riskless paper, it trades off the monetary premium associated with... View Details

Keywords: Sovereign Finance; Debt Securities

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Greenwood, Robin, Samuel G. Hanson, and Jeremy C. Stein. "A Comparative-Advantage Approach to Government Debt Maturity." Journal of Finance 70, no. 4 (August 2015): 1683–1722. (2015 Brattle Group Distinguished Paper for an outstanding corporate finance paper published in the Journal of Finance. Internet Appendix Here.)

• Article

The Cross Section of Expected Holding Period Returns and Their Dynamics: A Present Value Approach

By: Matthew R. Lyle and Charles C.Y. Wang

We provide a tractable model of firm-level expected holding period returns using two firm fundamentals—book-to-market ratio and ROE—and study the cross-sectional properties of the model-implied expected returns. We find that 1) firm-level expected returns and expected... View Details

Keywords: Expected Returns; Discount Rates; Holding Period Returns; Fundamental Valuation; Present Value; Valuation; Investment Return

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Lyle, Matthew R., and Charles C.Y. Wang. "The Cross Section of Expected Holding Period Returns and Their Dynamics: A Present Value Approach." Journal of Financial Economics 116, no. 3 (June 2015): 505–525.

• May 2015
• Article

Admitting Mistakes: Home Country Effect on the Reliability of Restatement Reporting

By: Suraj Srinivasan, Aida Sijamic Wahid and Gwen Yu

We study the frequency of restatements by foreign firms listed on U.S. exchanges. We find that the restatement rate of U.S. listed foreign firms is significantly lower than that of comparable U.S. firms and that the difference depends on the firm's home country... View Details

Keywords: Accounting Restatements; Home Country Enforcement; Earnings Management; Globalized Firms and Management; Law; Financial Reporting; Financial Markets; Cross-Cultural and Cross-Border Issues

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Srinivasan, Suraj, Aida Sijamic Wahid, and Gwen Yu. "Admitting Mistakes: Home Country Effect on the Reliability of Restatement Reporting." Accounting Review 90, no. 3 (May 2015): 1201–1240.

• Article

Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines

By: Edward L. Glaeser, Sari Pekkala Kerr and William R. Kerr

We study entrepreneurship and growth through the lens of U.S. cities. Initial entrepreneurship correlates strongly with urban employment growth, but endogeneity bedevils interpretation. Chinitz (1961) hypothesized that coal mines near cities led to specialization in... View Details

Keywords: Industrial Organization; Chinitz; Agglomeration; Clusters; Cities; Mines; Industry Clusters; Urban Development; Entrepreneurship; City; Mining; Mining Industry; United States

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Glaeser, Edward L., Sari Pekkala Kerr, and William R. Kerr. "Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines." Review of Economics and Statistics 97, no. 2 (May 2015): 498–520.

• April 2015
• Article

Anxious and Egocentric: How Specific Emotions Influence Perspective Taking

By: Andrew R. Todd, Matthias Forstmann, Pascal Burgmer, Alison Wood Brooks and Adam D. Galinsky

People frequently feel anxious. Although prior research has extensively studied how feeling anxious shapes intrapsychic aspects of cognition, much less is known about how anxiety affects interpersonal aspects of cognition. Here, we examine the influence of incidental... View Details

Keywords: Anxiety; Egocentrism; Emotion; Perspective Taking; Risk and Uncertainty; Perspective; Emotions

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Todd, Andrew R., Matthias Forstmann, Pascal Burgmer, Alison Wood Brooks, and Adam D. Galinsky. "Anxious and Egocentric: How Specific Emotions Influence Perspective Taking." Journal of Experimental Psychology: General 144, no. 2 (April 2015): 374–391.

• March–April 2015
• Article

Why We Think We Can't Dance: Theory of Mind and Children's Desire to Perform

By: Lan Nguyen Chaplin and Michael I. Norton

Theory of Mind (ToM) allows children to achieve success in the social world by understanding others' minds. A study with 3–12 year olds, however, demonstrates that gains in ToM are linked to decreases in children's desire to engage in performative behaviors associated... View Details

Keywords: Theory Of Mind; Self-Esteem; Behavior; Attitudes; Performance; Cognition and Thinking

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Chaplin, Lan Nguyen, and Michael I. Norton. "Why We Think We Can't Dance: Theory of Mind and Children's Desire to Perform." Child Development 86, no. 2 (March–April 2015): 651–658.

• February 2015
• Article

The Great Recession, Insurance Mandates, and the Use of In Vitro Fertilization Services in the United States

By: Sorapop Kiatpongsan, Robert S. Huckman and Mark D. Hornstein

Objective: To investigate the relationship between economic activities, insurance mandates, and the use of in vitro fertilization (IVF) in the United States.

Design: We examined the correlation between the coincident index (a proxy for overall economic... View Details

Keywords: Macroeconomics; Recessions; Medical Care; In Vitro Fertilization; Health Industry; United States

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Kiatpongsan, Sorapop, Robert S. Huckman, and Mark D. Hornstein. "The Great Recession, Insurance Mandates, and the Use of In Vitro Fertilization Services in the United States." Fertility and Sterility 103, no. 2 (February 2015): 448–454.

• Article

Waves in Ship Prices and Investment

By: Robin Greenwood and Samuel G. Hanson

We study the link between investment boom and bust cycles and returns on capital in the dry bulk shipping industry. We show that high current ship earnings are associated with high used ship prices and heightened industry investment in new ships, but forecast low... View Details

Keywords: Business Earnings; Price; Investment; Shipping Industry

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Greenwood, Robin, and Samuel G. Hanson. "Waves in Ship Prices and Investment." Quarterly Journal of Economics 130, no. 1 (February 2015): 55–109.

• January 2015
• Article

Are Incentives Without Expertise Sufficient? Evidence from Fortune 500 Firms

By: Emilie R. Feldman and Cynthia A. Montgomery

Agency theory predicts that incentives will align agents' interests with those of principals. However, the resource-based view suggests that to be effective, the incentive to deliver must be paired with the ability to deliver. Using Fortune 500 boards as an... View Details

Keywords: Board Of Directors; Corporate Governance; Incentives; Expertise; Motivation and Incentives; Governing and Advisory Boards; Experience and Expertise; Agency Theory

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Feldman, Emilie R., and Cynthia A. Montgomery. "Are Incentives Without Expertise Sufficient? Evidence from Fortune 500 Firms." Strategic Management Journal 36, no. 1 (January 2015): 113–122.

• Article

Doing Business with Strangers: Reputation in Online Service Marketplaces

By: Antonio Moreno and Christian Terwiesch

Online service marketplaces allow service buyers to post their project requests and service providers to bid for them. To reduce the transactional risks, marketplaces typically track and publish previous seller performance. By analyzing a detailed transactional data... View Details

Keywords: Online Service Marketplace; Procurement; Auctions; Reputation; Bids and Bidding

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Moreno, Antonio, and Christian Terwiesch. "Doing Business with Strangers: Reputation in Online Service Marketplaces." Information Systems Research 25, no. 4 (December 2014): 865–886.

• December 2014
• Article

The Distinct Effects of Information Technology and Communication Technology on Firm Organization

By: Nicholas Bloom, Luis Garicano, Raffaella Sadun and John Van Reenen

Empirical studies on information communication technologies (ICT) typically aggregate the "information" and "communication" components together. We show theoretically and empirically that this is problematic. Information and communication technologies have very... View Details

Keywords: Communication Technology; Information Technology; Organizational Structure

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Bloom, Nicholas, Luis Garicano, Raffaella Sadun, and John Van Reenen. "The Distinct Effects of Information Technology and Communication Technology on Firm Organization." Management Science 60, no. 12 (December 2014): 2859–2885.

• 2014
• Chapter

Technology, Innovation and Economic Growth in Britain Since 1870

By: Tom Nicholas

This chapter examines technological change in Britain over the last 140 years. It analyzes the effects of patent laws and innovation prizes that were designed to promote technical progress. It explores the challenge associated with the changing organizational structure... View Details

Keywords: Information Technology; Organizational Change and Adaptation; History; Economic Growth; Change; Innovation and Invention; Great Britain

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Nicholas, Tom. "Technology, Innovation and Economic Growth in Britain Since 1870." Chap. 7, Vol. 2 of The Cambridge Economic History of Modern Britain. New ed. Edited by Roderick Floud, Jane Humphries, and Paul Johnson, 181–204. Cambridge University Press, 2014.

• November 2014
• Article

The Dynamics of Firm Lobbying

By: William R. Kerr, William F. Lincoln and Prachi Mishra

We study the determinants of the dynamics of firm lobbying behavior using a panel data set covering 1998–2006. Our data exhibit three striking facts: (i) few firms lobby, (ii) lobbying status is strongly associated with firm size, and (iii) lobbying status is highly... View Details

Keywords: Lobbying; Political Economy; H-1B; Organizational Change and Adaptation; Policy; Immigration

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Kerr, William R., William F. Lincoln, and Prachi Mishra. "The Dynamics of Firm Lobbying." American Economic Journal: Economic Policy 6, no. 4 (November 2014): 343–379.