When Should Companies Take a Stand? The Risks and Rewards of Corporate Activism
New CBS research explores the factors driving inconsistent corporate stances on global sociopolitical issues and the risks that come with them.
New CBS research explores the factors driving inconsistent corporate stances on global sociopolitical issues and the risks that come with them.
Explore how President Trump’s flurry of executive orders on his first day in office could reshape the economy, with expert insights from Columbia Business School.
The new president's proposed policies are poised to reshape the business landscape. Columbia Business School experts break down what leaders need to know to navigate the challenges and opportunities ahead.
「グローバルな課題解決への挑戦~『AI』『イノベーション』『金融政策」『国際貿易』~」主催:コロンビア大学ビジネススクール 日本経済経営研究所、共催:株式会社日本政策投資銀行 2024 CJEB Annual Tokyo Conference Navigating Global Challenges: AI, Innovation, Monetary Policy, and Trade Tuesday, June 4, 2024, 1:15 – 6:30 PM J
Listen to the European Union’s Commissioner for Climate Action discuss the solutions and challenges on his agenda as he embarks on a new five-year term.
New research by Columbia Business School faculty shows how increasing the number of high-skilled immigrants can spur regional entrepreneurship and economic growth without the cost of other economy-boosting strategies.
With tariffs driving up prices and threatening corporate growth, voters need to understand the real economic stakes of U.S.-China trade policies, says Professor David Weinstein.
Amid unprecedented polarization, business leaders must foster constructive dialogue.
Pierre Yared is the MUTB Professor of International Business, Senior Vice Dean for Faculty Affairs, and Vice Dean for Executive Education at Columbia Business School. His research, which has been published in leading academic journals, focuses on macroeconomic policy and political economy. He is a research associate of the National Bureau of Economic Research. Yared teaches Global Economic Environment, a Core MBA course in macroeconomics for which he received the Dean’s Award for Teaching Excellence.
Dan Wang is Lambert Family Professor of Social Enterprise and (by courtesy) Sociology at Columbia Business School, where he is also the Co-Director of the Tamer Institute for Social Enterprise and Climate Change. His research examines how social networks drive social and economic transformation through the analysis of global migration, social movements, organizational innovation, and entrepreneurship.
Stephan Meier is currently the chair of the Management Division and the James P. Gorman Professor of Business at Columbia Business School. He holds a PhD in Economics from the University of Zurich, was previously a senior economist at the Center for Behavioral Economics and Decision-Making at the Federal Reserve Bank of Boston and taught courses on strategic interactions and economic policy at Harvard University and the University of Zurich. His research interest is in behavioral strategy.
Charles W. Calomiris is Henry Kaufman Professor Emeritus of Financial Institutions in the Faculty of Business and Professor Emeritus of International and Public Affairs at Columbia Business School, Director of the Business School’s Program for Financial Studies Initiative on Finance and Growth in Emerging Markets, and a professor at Columbia’s School of International and Public Affairs. His research spans the areas of banking, corporate finance, financial history, and monetary economics.
Laura Boudreau is an Assistant Director at Columbia Business School. Laura received her Ph.D. from the University of California, Berkeley. Her research focuses on working conditions, labor market institutions, and firm productivity in developing countries. She is especially interested in how the intersection of global supply chains with local institutions affect firms’ and workers’ outcomes.
Professor Stiglitz accepted a joint appointment to a chaired professorship at Columbia Business School, the Graduate School of Arts and Sciences (in the Department of Economics) and the School of International and Public Affairs in the spring of 2001. He was the first Joel M. Stern Faculty Scholar at Columbia Business School from Fall 1999 until Spring 2001. From 1997 to 2000, he served as the World Bank's Chief Economist and Senior Vice President, Development Economics. Prior to that, he served on President Clinton's economic team as a member of the U.S.
Professor Khandelwal teaches an elective course on International Business. His research interests examine issues in international and development economics, including the strategic response of firms to trade liberalizations and increased international competition.
Geert Bekaert is Professor of Finance and Economics at Columbia Business School Before joining Columbia, Geert was a tenured Associate Professor of Finance at the Graduate School of Business, Stanford University. He received his Ph.D. from Northwestern University's Economics Department, with his dissertation winning the 1994 Zellner Thesis Award in Business and Economic Statistics.
As the Vice President, Head of Global Acquisition, Retention, and Growth at Amazon's Audible, Bolong Li spearheads cross-functional teams dedicated to fostering sustained growth and enhancing customer experiences across diverse platforms.
Before his tenure at Audible, Bolong accrued two years of experience at Apple, where he concentrated on Business Development and Retail Management. His career trajectory began in the financial industry, leveraging his educational background in finance from both undergraduate and graduate studies.
Paul Clifford has over 20 years of origination, structuring and execution experience in the Project Finance sector. He arranged and advised on financings for infrastructure projects in the US and international markets at Standard Chartered Bank and other global banks, where he was responsible for negotiating and executing multi-billion dollar deals across Oil & Gas, Power & Energy, Renewables, Infrastructure and Mining & Metals industry sectors. His experience covers Middle East, South Asia, Africa and the Americas.
Bruce Kogut is the Sanford C. Bernstein & Co. Professor of Leadership and Ethics at Columbia Business School. He teaches courses on Governance, Governance and Ethics, and Business Strategies and Solving Social Problems. He has taught in executive programs in the US, Europe, and China.
Michael Morris is the Chavkin-Chang Professor of Leadership at CBS and also serves as Professor in the Psychology Department of Columbia University.
Why do startups from mid-sized markets struggle to scale? We theorize that their home market is big enough to gain early traction, which incentivizes them to delay targeting new markets necessary for growth. This delay, however, allows adaptation costs to grow too large. We test this by exploring international expansions using interview and large-scale website language data of up to 20,000 software startups from around the world.
We present a dynamic two-country model in which military spending, geopolitical risk, and government bond prices are jointly determined. The model is consistent with three empirical facts: hegemons have a funding advantage, this advantage rises with geopolitical tensions, and war losers suffer from higher debt devaluation than victors.
Firms with political connections to a regime with an authoritarian history face a dilemma when the regime undergoes a democratic transition. Such connections provide an essential competitive advantage when the regime is in power but become a liability when an institutional transition brings democratic change. This study theorizes that when mass protests expose a regime’s distorted policies favoring elites over others and signal a high probability of regime turnover, firms may hedge against the risks associated with their political connections by engaging in philanthropy.
With multinational corporations (MNCs) increasingly taking public stances on sociopolitical issues such as immigration, LGBTQ+ rights, and racism, it is imperative that International Business (IB) research keeps pace with normative societal debates. In this paper, we introduce the concept of corporate sociopolitical activism (SPA) to the IB literature and develop theory on why MNCs consistently or inconsistently engage in SPA in response to the same issue in their home country and a host country.
What is the impact of communicating strategy to employees in scaling ventures? As entrepreneurial ventures grow and add headcount, misalignment among employees can emerge, leading to inefficient and potentially detrimental decisions. Communicating strategy can realign employees' ideas to the firm's core framework but divert them from more distant and potentially optimal possibilities, constraining flexibility. Through a pre-registered field experiment involving 480 employees across 25 companies in 14 countries, we analyze the effects of a simple strategy communication intervention.
Prior work suggests that startups in less-financing-rich contexts grow less than others. Does this growth gap narrow or widen if these startups adopt strategic fit and therefore align their strategic choices with each other and their context? While fit can improve these startups' resource allocation, it can also be harder to achieve and constrain their flexibility.
How does international exposure shape entrepreneurial pivots? Through a field study of 84 startups across 27 countries, we develop a model that uncovers how international exposure not only spurs ventures to update their understandings of the international market but also generates pivots in the addressed market. Structural differences between markets and entrepreneurs' cognitive openness makes new information about the international market more salient. This new information opens ventures' eyes to novel opportunities.
Screening human capital based on signals such as job applications or entrepreneurial pitches is crucial for organizations. Signals are informative insofar as they are costly. Generative AI (GAI) complicates screening by lowering the cost of producing impressive signals. We model the informational effects of GAI, showing that applicants' use of GAI can increase-but also decrease-an evaluator's screening mistakes. This result depends on how GAI affects experts' signals compared to non-experts'.