At Columbia Business School, our faculty members are at the forefront of research in their respective fields, offering innovative ideas that directly impact the practice of business today. A quick glance at our publication on faculty research, CBS Insights, will give you a sense of the breadth and immediacy of the insight our professors provide.
As a student at the School, this will greatly enrich your education. In Columbia classrooms, you are at the cutting-edge of industry, studying the practices that others will later adopt and teach. As any business leader will tell you, in a competitive environment, being first puts you at a distinct advantage over your peers. Learn economic development from Ray Fisman, the Lambert Family Professor of Social Enterprise and a rising star in the field, or real estate from Chris Mayer, the Paul Milstein Professor of Real Estate, a renowned expert and frequent commentator on complex housing issues. This way, when you complete your degree, you'll be set up to succeed.
Columbia Business School in conjunction with the Office of the Dean provides its faculty, PhD students, and other research staff with resources and cutting edge tools and technology to help push the boundaries of business research.
Specifically, our goal is to seamlessly help faculty set up and execute their research programs. This includes, but is not limited to:
All these activities help to facilitate and streamline faculty research, and that of the doctoral students working with them.
The article offers the authors' views on expatriate management programs and the benefits from executives interacting with the people and institutions of the host country. The idea that international experience or interaction between foreign managers and local people will help managers become more creative, entrepreneurial, and successful is discussed. The concept of integrative complexity in bi-cultural managers which enhances job performance is mentioned.
The Kidney Case is multi-person exercise that involves the allocation of a single kidney. Students read profiles of eight candidates for the kidney and make a first allocation decision. Each candidate was designed to be high on some allocation principles but low or unknown on others (e.g., best, match, time in cue, age, personal responsibility for disease, future benefits to society, etc.). Then, students are put into groups and assigned to advocate for one of the candidates. Each group will prepare and give a 3-minute presentation on why their candidate should receive the kidney.
Emissions abatement alone cannot address the consequences of global warming for weather disasters. We model how society adapts to manage disaster risks to capital stock. Optimal adaptation — a mix of firm-level efforts and public spending — varies as society learns about the adverse consequences of global warming for disaster arrivals. Taxes on capital are needed alongside those on carbon to achieve the first best.
What are the sources of the returns to education? We study the allocation of higher education graduates from public institutions in Ohio across firms. We present three results. First, we confirm findings in the earlier literature of large pay differences across degrees. Second, we show that up to one quarter of pay premiums for higher degrees are explained by between-firm pay differences. Third, higher education degrees are associated with greater representation at the best-paying firms.
This article focuses on the role of threats in negotiations. Broadly speaking, a threat is a proposition that issues demands and warns of the costs of noncompliance. Even if neither party resorts to them, potential threats shadow most negotiations. Researchers have found that people actually evaluate their counterparts more favorably when they combine promises with threats rather than extend promises alone. Whereas promises encourage exploitation, the threat of punishment motivates cooperation.
Contact Lalit Manral at [email protected] for a copy of the manuscript.
Bicultural individuals differ in the degree to which their cultural identities are integrated versus conflicting—Bicultural Identity Integration (BII). Studies of judgment find that biculturals with less integrated identities (low BIIs) tend to defy salient cultural norms, whereas those with highly integrated identities (high BIIs) conform. This study examined biculturals' judgment in a group decision-making context, focusing on individuals' reactions to consensus in cultural ingroups. Results showed that low (vs.
Bicultural individuals vary in the degree to which their two cultural identities are integrated. Among Asian-Americans, for instance, some experience their Asian and American sides as compatible whereas others experience them as conflicting. Past research on judgments finds this individual difference affects the way bicultural individuals respond to situations that cue their cultures.
This Editors' Forum –‘Creativity East and West’– presents five papers on the question of cultural differences in creativity from the perspective of different research literatures, followed by two integrative commentaries. The literatures represented include historiometric, laboratory, and organizational studies. Investigation of cultural influences through country comparisons and priming manipulations, focusing on how people perform creatively and how they assess creativity.
This paper proposes a simple model to study how domestic institutions affect patterns of international capital flows. Inefficient financial system, and poor corporate governance, may be bypassed by two-way capital flows in which domestic savings leave the country in the form of financial capital outflows but domestic investment takes place via inward FDI. While financial globalization always improves the welfare of a developed country with a good financial system, its effect is ambiguous for a developing country with an inefficient financial sector or poor corporate governance.
Non-linear external habit persistence models, which feature prominently in the recent "equity premium" asset pricing and macroeconomics literature, generate counterfactual predictions in the cross section of stock returns. In particular, we show that in the absence of cross sectional heterogeneity in firms' cash flow risk these models produce a "growth premium," that is, stocks with high price-to-fundamental ratios command a higher premium than stocks with low price-to-fundamental ratios.
As Cassius said to Brutus (in Julius Caesar) Men at some time are masters of their fates: The fault, dear Brutus, is not in our stars, But in ourselves, that we are underlings. Might you become master of your fate through choice—no matter what the stars say?
Negotiators may use vigilant, loss-minimizing strategies or eager, gain-maximizing strategies. The present study provides evidence that preferences for these different strategies depend on negotiator role and personal orientation. In a price negotiation, buyers and prevention-focused individuals prefer vigilant strategies, whereas sellers and promotion-focused individuals prefer eager strategies.
Whether one is in one’s native culture or abroad, one’s personality can differ markedly from the personalities of the majority, thus failing to match the “cultural norm.” Our studies examined how the interaction of individual- and cultural-level personality affects people’s self-esteem and well-being.We propose a person-culture match hypothesis that predicts that when a person’s personality matches the prevalent personalities of other people in a culture, culture functions as an important amplifier of the positive effect of personality on self-esteem and subjective well-being at the individ
Large companies are usually organized into business units, yet some activities are almost always centralized in a company-wide functional unit. We first show that organizations endogenously create an incentive conflict between functional managers (who desire excessive standardization) and business-unit managers (who desire excessive local adaptation). We then study how the allocation of authority and tasks to functional and business-unit managers interacts with this endogenous incentive conflict.
In the fall of 2008, fifteen of the world's leading economists — representing the broadest spectrum of economic opinion — gathered at New Hampshire's Squam Lake. Their goal: the mapping of a long-term plan for financial regulation reform.
Driven by diverse motives, many industrial companies have added greater service offerings to complement their products over the past two decades. While their transition to offering more supporting services generally seems to be a very promising avenue and some companies have been quite successful with this strategy, the overall picture is inconclusive. Despite their obvious connection to the products that they support, services may represent a dramatically set of activities for industrial companies to master.
A previous study used aggregate (region-level) data to investigate whether home health care serves as a substitute for inpatient hospital care, and concluded that “there is no evidence that services provided at home replace hospital services.” However, that study was based on a cross-section of regions observed at a single point of time, and did not control for unobserved regional heterogeneity.
This special issue features articles from the 9th Annual INFORMS Revenue Management and Pricing Section Conference at the Kellogg School of Management, Northwestern University during 22–23 June 2009. The conference featured 42 half hour talks by practitioners and researchers, as well as keynote addresses by Professor Anton Kleywegt of Georgia Tech and by Dr Matthew Schrag, the Director of Operations Research and Industrial Engineering at Delta Airlines. The conference was organized by Martin Lariviere and Baris Ata.
This goal of this chapter is to build a bridge between psychophysiology and organizational behavior in an effort to extend organizational theories and enhance the precision of organizational research. The first section describes psychophysiological systems and theories that can inform organizational scholars' understanding of the biological bases of behavior in organizations. The second section discusses the advantages and challenges associated with incorporating psychophysiological measures into organizational research.
Recently, the U.S. government passed a major financial regulatory overhaul known as the Dodd- Frank bill. Soon thereafter, the Basel Committee revised its capital standards to boost minimum tier one equity requirements for banks over time.
The stated purpose of the U.S.'s Dodd-Frank financial regulatory reform bill, and the Basel reforms, was to fix the problems that came to light during the recent financial crisis. Do these reforms address those problems?
In the wake of the fierce debate surrounding the potential establishment of an Islamic center a few blocks from Ground Zero, as well as the recent threat by a pastor of a small fringe evangelical church to hold a public Koran burning, there has been much talk about building bridges and interfaith dialogue. We believe in such initiatives, but we also strongly believe there are other ways of normalizing relations between groups that sometimes clash.
It is widely accepted that entrepreneurial creation affects destruction, as new and better organizations, technologies and transactions replace old ones. This phenomenon is labeled creative destruction, but it might more accurately be called destructive creation, given the driving role of creation in the process. We reverse the typical causal ordering, and ask whether destruction may drive creation. We argue that economic systems may get stuck in suboptimal equilibria due to path dependence, and that destruction may sweep away this inertia, and open the way for entrepreneurship.
Belief in one's ability to exert control over the environment and to produce desired results is essential for an individual's well being. It has been repeatedly argued that the perception of control is not only desirable, but it is likely a psychological and biological necessity. In this article, we review the literature supporting this claim and present evidence for a biological basis for the need for control and for choice—that is, the means by which we exercise control over the environment.
Applies economic, marketing, and finance concepts to develop a metric, Customer Value Added, that explains how marketing activities drive the financial performance of an organization. Includes empirical results for a consumer packaged goods company where Customer Value Added predicted revenue and contribution with R-squared values greater than 0.90.
This article starts by discussing the concept of "inflation hedging" and provides estimates of "inflation betas" for standard bond and well-diversified equity indices for over 45 countries. We show that such standard securities are poor inflation hedges. Expanding the menu of assets to Treasury bills, foreign bonds, real estate and gold improves matters but inflation risk remains difficult to hedge. We then describe how state-of-the-art term structure research has tried to uncover estimates of the inflation risk premium, the compensation for bearing inflation risk.
The notion of accessibility of mental representations has been invaluable in explaining and predicting human thought and action. Focusing on social cognition, we review the large corpus of data that has accumulated since the first models of mental activation dynamics were outlined. We then outline a framework that we call Relevance of a Representation (or ROAR for short), the main tenant of which is that not all stimulated representations are in fact activated (i.e., influence thought and action processes).
Six studies show that subtle contextual cues that increase customers' self-awareness can be used to influence their satisfaction with service providers holding the objective service delivery constant. Self-awareness cues tend to increase customers' satisfaction when the outcome of a service interaction is unfavorable, but tend to decrease customers' satisfaction when the outcome of the interaction is favorable. This is because higher self-awareness increases customers' tendency to attribute outcomes to themselves as opposed to the provider.
Research on repeated ties has concluded almost lopsidedly that repeated exchanges are beneficial. Yet, most empirical evidences backing up this conclusion either do not measure real economic outcomes of repeated exchanges, or have performance data from only one side of the transaction. Our paper develops a synthetic view of the exchange dynamics through which positive or negative effects might take place, and exposes direct evidence of the impact of repeated ties on price, cost, profit and governance structure.
This paper argues that an important institutional tool to accelerate the transition of the global economy towards greater reliance on renewable energy is the establishment of an International Green Fund (IGF). Such a fund would provide and coordinate financing of green investments and research and development on renewable energy around the world. With the support of such a fund, long-term investors who are already pursuing green investment projects on an ad-hoc basis would be able to scale up these investments and reap larger returns from learning-by-doing and scale economies.