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Columbia Business School Research

At the Forefront of Their Fields

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.

The Columbia Advantage

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:

  • Highly skilled staff of full-time predoctoral fellows, summer research interns, and part-time research assistants
  • Access to centralized funding from the Dean's office and external grants to support research activities
  • Providing a state-of-the-art high-performance grid computing environment
  • Acquisition of proprietary data sets and access to various databases
  • Leading library which provides faculty with latest tools and techniques to enable digital scholarship

All these activities help to facilitate and streamline faculty research, and that of the doctoral students working with them.

Featured Research

Be a better manager: Live abroad

Authors
W. Maddux, Adam Galinsky, and C. Tadmor
Date
January 1, 2010
Format
Journal Article
Journal
Harvard Business Review

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.

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The Kidney Case

Authors
D. Austen-Smith, T. Feddersen, Adam Galinsky, and K. Liljenquist
Date
January 1, 2010
Format
Case Study
Publisher
Kellogg School of Management, Dispute Resolution Research Center

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.

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Mitigating Disaster Risks in The Age Of Climate Change

Authors
Harrison Hong, Jinqiang Yang, and Neng Wang
Date
Forthcoming
Format
Journal Article

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.

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Returns to Education through Access to Higher-Paying Firms: Evidence from US Matched Employer-Employee Data

Authors
Niklas Engbom and Christian Moser
Date
May 1, 2017
Format
Journal Article
Journal
American Economic Review: Papers and Proceedings

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.

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Putting on the pressure: How to make threats in negotiations

Authors
Adam Galinsky and K. Liljenquist
Date
January 1, 2004
Format
Journal Article
Journal
Negotiation

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.

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Type
Newspaper/Magazine Article
Date
2018
Publication
Current Opinion in Psychology

Special Issue: Shared Reality

Author
Echterhoff, G. and E. Tory Higgins
To provide background for the Special Issue on shared reality, we outline the construct of shared reality and underlying mechanisms. Shared reality is the experience of having in common with others inner states about the world. Inner states include the perceived relevance of something, as well as feelings, beliefs, or evaluations of something. The experience of having such inner states in common with others fosters the perceived truth of those inner states.
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Type
Journal Article
Date
2018

Teacher applicant hiring and teacher performance: Evidence from DC public schools

Author
Jacob, Brian A., Jonah Rockoff, Eric S. Taylor, Benjamin Lindy, and Rachel Rosen

Selecting more productive employees among a pool of job applicants can be a cost-effective means of improving organizational performance and may be particularly important in the public sector. We study the relationship among applicant characteristics, hiring outcomes, and job performance for teachers in the Washington DC Public Schools. Applicants' academic background (e.g., undergraduate GPA) is essentially uncorrelated with hiring.

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Type
Case Study
Date
2018

The House of Redstone: Family Enterprise in Three Acts

Author
Angus, Patricia

Sumner Redstone was one of the most important figures in the evolution of the media industry during the twentieth century. He saw opportunities and seized them, exponentially growing his father's drive-in theater business to become one of the world's largest media conglomerates, with two publicly traded companies -- CBS and Viacom -- at its core. His larger-than-life personality and trials and tribulations kept the tabloid press more than busy. But Sumner's story was never his alone.

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Type
Working Paper
Date
2018

Taking the Cochrane-Piazzesi Term Structure Model Out of Sample: More Data, Additional Currencies, and FX Implications

Author
Hodrick, Robert and Tuomas Tomunen

We examine the Cochrane and Piazzesi (2005, 2008) model in several out-of-sample analyzes. The model's one-factor forecasting structure characterizes the term structures of additional currencies in samples ending in 2003. In post-2003 data one-factor structures again characterize each currency's term structure, but we reject equality of the coefficients across the two samples. We derive some implications of the model for the predictability of cross-currency investments, but we find little support for these predictions in either pre-2004 or post-2003 data.

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Type
Journal Article
Date
2018
Journal
Journal of Experimental Social Psychology

The benefits and burdens of keeping others' secrets

Author
Slepian, Michael and K. Greenaway
Prior research on secrecy has examined the effects of keeping one's own secrets, but people keep others' secrets too. The present work presents the first examination of the experience of keeping others' secrets. Three studies (one correlational, two experimental) with more than 600 participants holding more than 10,000 secrets demonstrate that being confided in brings relational benefits, but is also a burden. The closer one is to the confider, the more one's mind wanders toward the secret, predicting increased feelings of intimacy, but also burden.
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Type
Journal Article
Date
2018

When and How Board Members with Marketing Experience Facilitate Firm Growth

Author
Whitler, Kimberly A, Ryan Krause, and Donald Lehmann
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Type
Working Paper
Date
2018

Money, Sovereignty, and Optimal Currency Areas

Author
Bolton, Patrick and Haizhou Huang

We propose a new theory of Optimum Currency Areas (OCAs) based on monetary sovereignty. We consider two economically integrated countries with separate currencies and monetary policies, but with exchange rate underreaction. We show that the two countries are then engaged in a strategic monetization game, which may generate excessive inflation in equilibrium. A monetary union between the two countries can eliminate this excess inflation cost, but also removes a nation's monetary sovereignty.

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Type
Journal Article
Date
2018
Journal
Journal of Consumer Research

Affective Boundaries of Scope Insensitivity

Author
Chang, Hannah and Michel Tuan Pham

People can be surprisingly insensitive to quantities in valuation judgments—a phenomenon called scope insensitivity, which is generally attributed to the operation of affective processes in judgment. Building on research showing that affect is inherently a decision-making system of the present, we propose that scope insensitivity is more likely to be observed in decisions that are psychologically proximate to the immediate self.

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Type
Journal Article
Date
2018
Journal
Journal of Monetary Economics

Big Data in Finance and the Growth of Large Firms

Author
Begenau, Juliane, Maryam Farboodi, and Laura Veldkamp

Two modern economic trends are the increase in firm size and advances in information technology. We explore the hypothesis that big data disproportionately benefits big firms. Because they have more economic activity and a longer firm history, large firms have produced more data. As processor speed rises, abundant data attracts more financial analysis. Data analysis improves investors’ forecasts and reduces equity uncertainty, reducing the firm’s cost of capital. When investors can process more data, large firm investment costs fall by more, enabling large firms to grow larger.

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Type
Journal Article
Date
2018
Journal
American Economic Review

Fiscal Rules and Discretion in a World Economy

Author
Yared, Pierre

Governments are present-biased toward spending. Fiscal rules are deficit limits that trade off commitment to not overspend and flexibility to react to shocks. We compare coordinated rules, chosen jointly by a group of countries, to uncoordinated rules. If governments' present bias is small, coordinated rules are tighter than uncoordinated rules: individual countries do not internalize the redistributive effect of interest rates. However, if the bias is large, coordinated rules are slacker: countries do not internalize the disciplining effect of interest rates.

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Type
Newspaper/Magazine Article
Date
2018
Publication
New York Nonprofit Media

This Is What Impact Investing Is -- and How It's Different for Nonprofits

Author
Levenson Keohane, Georgia
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Type
Journal Article
Date
2018

Assessing the Impact of Service Level when Customer Needs are Uncertain: An Empirical Investigation of Hospital Step-Down Units

Author
Chan, Carri, Linda Green, Suparerk Lekwijit, Lijian Lu, and Gabriel J. Escobar

Many service systems have servers with different capabilities and customers with varying needs. One common way this occurs is when servers are hierarchical in their skills or in the level of service they can provide. Much of the literature studying such systems relies on an understanding of the relative costs and benefits associated with serving different customer types by the different levels of service. In this work, we focus on estimating these costs and benefits in a complex healthcare setting where the major differentiation among server types is the intensity of service provided.

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Type
Working Paper
Date
2018

Asset Demand Tests of Risk Preferences with Probability Dependent NM Indices

Author
Polisson, Matthew, David Rojo Arjona, Larry Selden, and Xiao Wei

Kubler, Selden, and Wei (2017) identify the incremental axioms which are required for an EU representation to have an NM index that is dependent on rather than independent of state probabilities. This paper aims to answer the question: Are asset demands compatible with the maximization of risk preferences with probability dependent NM indices?

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Type
Book
Date
2018

Digitized Labor: The Impact of the Internet on Employment

Author
Pupillo, Lorenzo, Eli Noam, and Leonard Waverman

As with previous technological revolutions, innovations in the online world have triggered transformations in the labor market and the economy. While the Internet is trumpeted as a great job creator, there are also downsides that need to be identified and dealt with. The book discusses the following topics:

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Type
Journal Article
Date
2018
Journal
Journal of Accounting Research

Shareholder Litigation and Corporate Disclosure: Evidence from Derivative Lawsuits

Author
Bourveau, Thomas, Yun Lou, and Rencheng Wang

Using the staggered adoption of universal demand (UD) laws in the United States, we study the effect of shareholder litigation risk on corporate disclosure. We find that disclosure significantly increases after UD laws make it more difficult to file derivative lawsuits. Specifically, firms issue more earnings forecasts and voluntary 8-K filings, and increase the length of management discussion and analysis (MD&A) in their 10-K filings. We further assess the direct and indirect channels through which UD laws affect firms' disclosure policies.

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Type
Journal Article
Date
2018
Journal
Strategic Management Journal

Pro Bono as a Human Capital Learning and Screening Mechanism: Evidence from Law Firms

Author
Burbano, Vanessa, J. Mamer, and J. Snyder

Inquiry into CSR as a human capital management tool has suggested that firms benefit from such activities because employees value the meaningfulness of these activities, which influences motivation and retention. We propose an alternate avenue through which firms can benefit from an important type of socially responsible activity — pro bono services — that does not require that employees derive utility from the meaningfulness of the activity.

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Type
Newspaper/Magazine Article
Date
2018
Publication
Journal of Financial Economics

Macro Risks and the Term Structure of Interest Rates

Author
Bekaert, Geert, Eric Engstrom, and Andrey Ermolov

We extract aggregate supply and aggregate demand shocks for the US economy from macroeconomic data on inflation, real GDP growth, core inflation and the unemployment gap. We first use unconditional non-Gaussian features in the data to achieve identification of these structural shocks while imposing minimal economic assumptions. We find that recessions in the 1970s and 1980s are better characterized as driven by supply shocks while later recessions were driven primarily by demand shocks. The Great Recession exhibited large negative shocks to both demand and supply.

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Type
Chapter
Date
2018

Digitized Labor: The Impact of the Internet on Employment

Author
Pupillo, Lorenzo, Eli Noam, and Leonard Waverman

This book provides new evidence for the Impact of the Internet on jobs. All of the empirical articles indicate that the Internet has indeed created many new jobs, but that a large number of jobs may have been destroyed or downgraded, at least in the short run. Furthermore, routinization, job market polarisation and new labour market inequalities have emerged. Thus, while the diffusion of the Internet is generating opportunities it also comes with ambiguous trends that by themselves will not generate a more resilient and inclusive labour market.

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Type
Chapter
Date
2018

Inequality and the Digital Economy

Author
Noam, Eli

This chapter examines the impacts of the digital economy on employment, the drivers of change, and the options to alleviate the emerging problems. The digital economy was supposed to replace and enhance industrial jobs, but it has also accelerated the outmigration of blue-collar and service jobs, with only inadequate replacements. The impact on different income classes and generational levels has been unequal. Midpay jobs decreased while low- and high-skilled jobs rose.

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Type
Journal Article
Date
2018
Journal
AEA Papers and Proceedings

Economic Expectations, Voting, and Decisions around Elections

Author
Huberman, Gur, Tobias Konitzer, Masha Krupenkin, David Rothschild, and Shawndra Hill

We find that voters who associate themselves with the "winning team" in election, i.e., Leave voters in the 2016 UK Brexit vote and Trump voters in 2016 US presidential election, substantially increase their expectations for the stock market, but change their expectations of their household economic wellbeing only modestly. Respondents who associate themselves with the "losing team" are more varied in their responses, but the overall impact of the election outcome on this group is more muted.

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Type
Journal Article
Date
2018
Journal
Journal of Experimental and Social Psychology

From belief to deceit: How expectancies about others' ethics shape deception in negotiations

Author
Mason, Malia, Elizabeth A. Wiley, and Daniel Ames

Expectancies play an important and understudied role in influencing a negotiator's decision to be deceptive. Studies 1a–1e investigated the sources of negotiators' expectancies, finding evidence of projection and pessimism; negotiators consistently overestimated the prevalence of people who share their views on deception and assumed a sizable share of others embrace deceptive tactics. This phenomenon generalized beyond American samples to Chinese students (Study 1d) and Turkish adults (Study 1e).

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Type
Journal Article
Date
2018

Incorporating Longitudinal Comorbidity and Acute Physiology Data in Template Matching for Assessing Hospital Quality: an Exploratory Study in an Integrated Health Care Delivery System

Author
Hu, Wenqi, Carri Chan, Jose R. Zubizarreta, and Gabriel J. Escobar

Objective:

We sought to build on the template-matching methodology by incorporating longitudinal comorbidities and acute physiology to audit hospital quality.

Study Setting:

Patients admitted for sepsis and pneumonia, congestive heart failure, hip fracture, and cancer between January 2010 and November 2011 at 18 Kaiser Permanente Northern California hospitals.

Study Design:

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Type
Journal Article
Date
2018
Journal
Journal of International Economics

The U.S. Treasury Premium

Author
Du, Wenxin, Joanne Im, and Jesse Schreger

We quantify the difference in the convenience yield of U.S. Treasuries and government bonds of other developed countries by measuring the deviation from covered interest parity between government bond yields. We call this wedge the "U.S. Treasury Premium." We document a secular decline in the U.S. Treasury Premium at medium to long maturities. The five-year U.S. Treasury Premium averages approximately 21 basis points prior to the Global Financial Crisis, increases up to 90 basis points during the crisis, and has disappeared after the crisis with the post-crisis mean at -8 basis points.

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Type
Journal Article
Date
2018

What Makes a New Product Successful?

Author
Lehmann, Donald
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Type
Journal Article
Date
2018
Journal
Journal of Economic Theory

Whether or Not to Open Pandora's Box

Author
Doval, Laura

I study a single-agent sequential search problem as in Weitzman. Contrary to Weitzman, conditional on stopping, the agent may take any uninspected box without first inspecting its contents. This introduces a new trade-off. By taking a box without inspection, the agent saves on its inspection costs. However, by inspecting it, he may discover that its contents are lower than he anticipated. I identify sufficient conditions on the parameters of the environment under which I characterize the optimal policy.

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Type
Journal Article
Date
2018

An Examination of Early Transfers to the ICU Based on a Physiologic Risk Score

Author
Hu, Wenqi, Carri Chan, and Gabriel Escobar

Unplanned transfers of patients from general medical-surgical wards to the Intensive Care Unit (ICU) may occur due to unexpected patient deterioration. Such patients tend to have higher mortality rates and longer lengths of stay than direct admits to the ICU. A new predictive model, the EDIP2, was developed with the intent to identify patients at risk for deterioration, which in some cases could trigger a proactive transfer to the ICU. While it is conceivable that proactive transfers could improve individual patient outcomes, they could also lead to ICU congestion.

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Type
Newspaper/Magazine Article
Date
2018
Publication
AIMA Journal

Think twice, it ain’t alright...ALIS clarified

Author
Weinberg, Michael

In “The Intelligent Investor in an Era of Autonomous Learning”, Jeffrey Tarrant delineated the concept of Autonomous Learning Investment Strategies (ALIS), the new AI and data-driven strategies he argued would disrupt today’s fundamental and quantitative managers.  This was followed by an article I wrote, “What a long strange trip it’s been...on ALIS”, which explained the best and worst traits of ALIS managers.  This brief article is called “Think Twice, It Ain’t Alright...ALIS Clarified”, repurposing the title of Bob Dylan’s 1963 song, “Don’t Think Twice, It’s Alright”. 

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Type
Journal Article
Date
2018
Journal
Journal of Political Economy

Life-Cycle Wage Growth across Countries

Author
Lagakos, David, Benjamin Moll, Tommaso Porzio, Nancy Qian, and Todd Schoellman

This paper documents how life cycle wage growth varies across countries. We harmonize repeated cross-sectional surveys from a set of countries of all income levels and then measure how wages rise with potential experience. Our main finding is that experience-wage profiles are on average twice as steep in rich countries as in poor countries. In addition, more educated workers have steeper profiles than the less educated; this accounts for around one-third of cross-country differences in aggregate profiles.

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Type
Journal Article
Date
2018
Journal
The Review of Financial Studies

How Does Financial Reporting Regulation Affect Firms' Banking?

Author
Breuer, Matthias, Katharina Hombach, and Maximillian Mueller

We examine the effects of financial reporting regulation on firms' banking. Exploiting discontinuous public disclosure and auditing requirements assigned to otherwise similar small and medium-sized private firms, we document that financial reporting regulation reduces firms' reliance on concentrated and local bank relationships and increases banks' reliance on firms' financial reporting, consistent with a shift in firms' banking from relationship toward transactional approaches.

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Type
Journal Article
Date
2018
Journal
Journal of Business Research

The Logic of Demand-Side Diversification: Evidence from the US Telecommunications Sector, 1990–1996

Author
Harrigan, Kathryn and L. Manral
The logic of demand-side diversification articulated herein explains that a firm's demand-side strategic assets motivate its choice to diversify into an industry whose production function warrant possession of different supply-side strategic assets. The concept of demand-side relatedness, which underpins the logic of demand-side diversification, clarifies the conditions under which a firm's demand-side strategic assets provide it with the motivation to explore opportunities for realizing consumer synergies.
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Type
Newspaper/Magazine Article
Date
2018
Publication
Pensions&Investments

Commentary: Welcome to the machine

Author
Weinberg, Michael

As technology disrupts industry after industry, it is logical to expect the hedge fund industry will be similarly disrupted. We pose the question: How will that disruption happen and where will it come from?

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Type
Chapter
Date
2018

Beyond the Golden Age of the Public Network

Author
Noam, Eli

In the United States, the Golden Age of the public network, in which substantial universal service coincided with group substantial monopoly, was as brief and romanticized as the cowboy era; it lasted about twenty years from 1950, but in the mid-1960s centrifugal forces began their assault. The departure from the public school system cannot be explained primarily by the supply of new options or by new technology but rather by an increased demand to exit. In a similar sense, recent centrifugal development in independent electric power generation had very little to do with new technology.

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Type
Book
Date
2018

The Telecommunications Revolution: Past, Present, Future

Author
Sapolsky, Harvey M. , Rhonda J. Crane, W. Russell Neuman, and Eli Noam

Originally published in 1992 this book charts the global restructuring of telecommunications industries away from the monopoly structures of the past towards increased competition, deregulation and privatization. The book's authors are international policy-makers and scholars, who examine the regulatory environment within a theoretical and historical context. The book looks at the roots of regulatory and legislative changes by discussing individually the countries at the forefront of the revolution: the UK, France, Germany, Japan and the United States.

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Type
Journal Article
Date
2018

The Impact of Opening a Medical Step-Down Unit on Medically Critically Ill Patient Outcomes and Throughput: A Difference-in-Differences Analysis

Author
Gershengorn, Hayley B., Carri Chan, Yunchao Xu, Hanxi Sun, Ronni Levy, Mor Armony, and Michelle N. Gong

Objective:

To understand the impact of adding a medical step-down unit (SDU) on patient outcomes and throughput in a medical intensive care unit (ICU).

Design:

Retrospective cohort study.

Setting:

Two academic tertiary care hospitals within the same health-care system.

Patients:

Adults admitted to the medical ICU at either the control or intervention hospital from October 2013 to March 2014 (preintervention) and October 2014 to March 2015 (postintervention).

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Type
Newspaper/Magazine Article
Date
2018
Publication
Journal of Financial Economics

Bankruptcy Spillovers

Author
Bernstein, Shai, Emanuele Colonnelli, Xavier Giroud, and Benjamin Iverson

How do different bankruptcy approaches affect the local economy? Using U.S. Census microdata, we explore the spillover effects of reorganization and liquidation on geographically proximate firms. We exploit the random assignment of bankruptcy judges as a source of exogenous variation in the probability of liquidation. We find that employment declines substantially in the immediate neighborhood of the liquidated establishments, relative to reorganized establishments.

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Type
Working Paper
Date
2018

A theory of stability in Dynamic Matching Market

Author
Doval, Laura
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Type
Journal Article
Date
2018
Journal
Customer Needs and Solutions

Advancing Non-compensatory Choice Models in Marketing

Author
Aribarg, Anocha, Thomas Otter, Daniel Zantedeschi, Greg Allenby, Taylor Bentley, David Curry, Marc Dotson, Ty Henderson, Elisabeth Honka, Rajeev Kohli, Kamel Jedidi, Stephan Seiler, and Xin (Shane) Wang
The extant choice literature has proposed different non-compensatory rules as a more realistic description of consumers’ choice than a standard compensatory model. Some research has further suggested a two-stage sequential decision process of non-compensatory consideration and then compensatory choice, where the determinants of each stage may differ. Some aspects of non-compensatory choice modeling are under-studied.
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Type
Journal Article
Date
2018
Journal
Journal of the Academy of Marketing Science

Building a Multi-Category Brand: When Should Distant Brand Extensions Be Introduced?

Author
Parker, Jeffrey, Kevin Lane Keller, Donald Lehmann, and Martin Schleicher

When companies plan to build multi-category brands by adding new products to their product lines, two questions loom large: (1) whether and (2) when brand extensions perceived as distant (comparatively dissimilar) from the company’s existing core line of products should be introduced. Since many real-world firms have introduced distant brand extensions, this paper focuses on the second question: when the company should introduce a distant extension within a series of other closer extensions — a decision for which there is little research-based guidance for managers.

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Type
Journal Article
Date
2018
Journal
BIS Papers

FX Hedging and Creditor Rights

Author
Mohanty, M. S. and M. Suresh Sundaresan

The paper draws on Mohanty and Sundaresan (2018) to explore the effects of bankruptcy laws on the ex ante incentive for firms to hedge FX exposures. We use a simple model in which the bankruptcy code may result in deadweight losses, and may allow equity holders a share of residual value of the firm's assets in the bankruptcy proceedings. The paper predicts that, while value-maximising firms promise to hedge a higher fraction of the value of their FX exposure when the debt is issued, they may renege subsequently and take on some FX exposures at the expense of foreign creditors.

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Type
Journal Article
Date
2018
Journal
Organizational Behavior and Human Decision Processes

How temporal and social comparisons in performance evaluation affect fairness perceptions

Author
Chun, J.S., Joel Brockner, and D. De Cremer
In the context of performance evaluations, temporal comparisons inform people how well they are doing relative to how they have performed in the past. Social comparisons inform people how well they are doing relative to others. The present research examined the effects of temporal and social comparisons on the fairness perceptions of those who receive the evaluations. In four studies using different methodologies, temporal evaluations were perceived as adhering more to principles of procedural and interpersonal fairness than social evaluations.
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Type
Journal Article
Date
2018
Journal
Customer Needs and Solutions

In Pursuit of Enhanced Customer Retention Management: Review, Key Issues, and Future Directions

Author
Ascarza, Eva, Oded Netzer, Neslin Scott, Zachery Anderson, Peter Fader, Sunil Gupta, Bruce Hardie, Aurelie Lemmens, Barak Libai, David Neal, Foster Provost, and Rom Schrift

In today's turbulent business environment, customer retention presents a significant challenge for many service companies. Academics have generated a large body of research that addresses part of that challenge — with a particular focus on predicting customer churn. However, several other equally important aspects of managing retention have not received a similar level of attention, leaving many managerial problems not completely solved, and a program of academic research not completely aligned with managerial needs.

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Type
Working Paper
Date
2018

Mortgage Market Credit Conditions and U.S. Presidential Elections

Author
Antoniades, Adonis and Charles Calomiris
Voters punish incumbent Presidential candidates for contractions in the local (county-level) supply of mortgage credit during market-wide contractions of credit, but they do not reward them for expansions in mortgage credit supply in boom times. Our primary focus is the Presidential election of 2008, which followed an unprecedented swing from very generous mortgage underwriting standards to a severe contraction of mortgage credit. Voters responded to the credit crunch by shifting their support away from the Republican Presidential candidate in 2008.
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Type
Journal Article
Date
2018
Journal
Organizational Behavior and Human Decision Processes

The shortest path to oneself leads around the world: Living abroad increases self-concept clarity

Author
Galinsky, Adam

The current research explores the relationship between living abroad and self-concept clarity. We conducted six studies (N = 1,874) using different populations (online panels and MBA students), mixed methods (correlational and experimental), and complementary measures of self-concept clarity (self-report and self-other congruence through 360-degree ratings). Our results indicate that living abroad leads to a clearer sense of self because it prompts self-discerning reflections on whether parts of their identity truly define who they are or merely reflect their cultural upbringing.

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Type
Newspaper/Magazine Article
Date
2018
Publication
American Anthropological Association

Business Is Booming for Business Anthropology

Author
Morais, Robert and Elizabeth Briody

Students who want to work in business are well served by taking anthropology courses and earning anthropology degrees. Their anthropological education can be applied in a broad array of businesses: marketing, advertising, marketing research, design, new product development, organizational culture and change, sustainability, risk management, and more.

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Type
Journal Article
Date
2018
Journal
The Review of Financial Studies

Are Mutual Fund Managers Paid for Investment Skill?

Author
Ibert, Markus, Ron Kaniel, Stijn Van Nieuwerburgh, and Roine Vestman
Compensation of mutual fund managers is paramount to understanding agency frictions in asset delegation. We collect a unique registry-based dataset on the compensation of Swedish mutual fund managers. We find a concave relationship between pay and revenue, in contrast to how investors compensate the fund company (firm). We also find a surprisingly weak sensitivity of pay to performance, even after accounting for the indirect effects of performance on revenue.
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Type
Newspaper/Magazine Article
Date
2018
Publication
Harvard Business Review

Stop Talking About How CSR Helps Your Bottom Line

Author
Meier, Stephan and Lea Cassar
It's no surprise that more firms might be investing in CSR. But our research shows that firms should not pursue CSR simply for benefits like greater productivity. We found that if employees think their company is using CSR initiatives instrumentally — trying to engage in prosocial activities only to benefit from it — then they'll react negatively and put in less effort. In other words, while these initiatives will benefit society, they will backfire for companies if people think they're being used for the wrong reasons.
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Type
Working Paper
Date
2018

Capital Risk: Precautionary and Excess Saving

Author
Selden, Larry and Xiao Wei

Precautionary saving typically refers to the additional investment in a risk free asset when exogenous labor income is risky versus certain. When risky income results endogenously from the investment in a risky asset, the meaning and characterization of precautionary saving change and far less is known about this case. Capital risk is important for macro and finance models as risk often arises from the variability in asset returns, and precautionary saving plays a key role in interpreting the results.

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Type
Newspaper/Magazine Article
Date
2018
Publication
AIMA Journal

What a long strange trip it’s been...on ALIS

Author
Weinberg, Michael

We have titled this paper with an ode to a compilation album by a band that was founded in Palo Alto and developed a counter-culture.  Though the title espouses a new state of mind, it is investment, not consumption driven, as this is 2017 and not 1965.

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Type
Journal Article
Date
2018

From Browsing to Buying and Beyond: The Needs-Adaptive Shopper Journey Model

Author
Lee, Leonard, J, Jeffrey Inman, Jennifer J. Argo, Tim Böttger, Utpal Dholakia, Timothy Gilbride, Koert Van Ittersum, Barbara Kahn, Ajay Kalra, Donald Lehmann, Leigh M. McAlister, Venkatest Shankar, and Claire I. Tsai
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Type
Journal Article
Date
2018
Journal
Journal of Marketing Research

"There Ain't No Such Thing as a Free Lunch": Consumers' Reactions to Pseudo-Free Offers

Author
Dallas, Steven and Vicki Morwitz

The authors examine how consumers respond to pseudo-free offers--offers that are presented to consumers as free but that require consumers to make a nonmonetary payment (such as completing a survey or providing personal information) in order to receive the "free" good or service. Across six studies, the authors find that consumers are generally just as likely to accept pseudo-free offers (with nonmonetary costs) as comparable truly free offers (with no costs), as long as the costs of the pseudo-free offers are below some threshold.

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