Skip to main content
Official Logo of Columbia Business School
Academic Programs
  • Visit Academic Programs
  • MBA
  • Executive MBA
  • Master of Science
  • PhD
  • Undergraduate Concentration
Faculty & Research
  • Visit Faculty & Research
  • Academic Divisions
  • Faculty Search
  • CBS Research
  • Research Resources
  • Research Opportunities
Executive Education
  • Visit Executive Education
  • For Organizations
  • For Individuals
  • Program Finder
  • Online Programs
  • Certificates
Alumni
  • Visit Alumni
  • Alumni Clubs
  • Alumni Benefits
  • Alumni Events
  • Lifetime Network
  • Women's Circle
  • Career Management
About Us
  • Visit About Us
  • The CBS Experience
  • Leadership
  • Our History
  • CBS Directory
  • Newsroom
  • Magazine
CBS Insights
  • Visit CBS Insights
  • AI & Business Analytics
  • Business & Society
  • Climate
  • Finance
  • Entrepreneurship
  • More on CBS Insights
Leading Insights Landing Image
Faculty & Research
  • Academic Divisions
  • CBS Research
    • Research Briefs
  • Research in Brief
  • Research Opportunities
    • CBS Research Resources
  • Research Resources
  • News
  • More 

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.

Read More about Be a better manager: Live abroad

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.

Read More about The Kidney Case

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.

Read More about Mitigating Disaster Risks in The Age Of Climate Change

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.

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

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.

Read More about Putting on the pressure: How to make threats in negotiations

Search the repository

Filters
Type
Chapter
Date
2019
Book
Social Psychology and Justice

Organizational Justice Is Alive and Well and Living Elsewhere (But Not Too Far Away)

Author
Brockner, Joel and Batia Wiesenfeld
Read More
Type
Journal Article
Date
2019
Journal
Social Psychological and Personality Science

Paradoxical Effects of Power on Moral Thinking: Why Power Both Increases and Decreases Deontological and Utilitarian Moral Decisions

Author
Fleischmann, A., J. Lammers, P. Conway, and Adam Galinsky

The current research explores the role of power in moral decision-making. Some work suggests that power increases utilitarianism; other work suggests power increases deontological judgments. Conversely, we propose that power can both increase and decrease both deontological and utilitarian decisions by building on two recent insights in moral psychology. First, we utilize the moral orientation scale to assess four thinking styles that jointly predict moral dilemma decisions.

Read More
Type
Journal Article
Date
2019
Journal
Journal of Marketing Research

Personalizing the Customization Experience: A Matching Theory of Mass Customization Interfaces and Cultural Information Processing

Author
de Bellis, Emanuel, Claudius Hildebrand, K. Ito, A. Herrmann, and Bernd Schmitt

Mass customization interfaces typically guide consumers through the configuration process in a sequential manner, focusing on one product attribute after the other. What if this standardized customization experience were personalized for consumers on the basis of how they process information? A series of large-scale field and experimental studies, conducted with Western and Eastern consumers, shows that matching the interface to consumers’ culture-specific processing style enhances the effectiveness of mass customization.

Read More
Type
Journal Article
Date
2019
Journal
Journal of Business Anthropology

Proceedings of the 2019 Global Business Anthropology Summit

Author
de Waal Malefyt, Timothy and Robert Morais

The second Global Business Anthropology Summit was held May 28-29, 2019 at Fordham University in New York City. The 2019 Summit brought together 160 industry practitioners and academic scholars to build upon the work of the 2018 Summit. The 2019 Summit was explicitly and emphatically forward thinking and action oriented to advance anthropological ideas in business.

Read More
Download PDF
Type
Journal Article
Date
2019
Journal
Operations Research

Randomized Algorithms for Lexicographic Inference

Author
Kohli, Rajeev, Khaled Boughanmi, and Vikram Kohli
The inference of a lexicographic rule from paired comparisons, ranking, or choice data is a discrete optimization problem that generalizes the linear ordering problem. We develop an approach to its solution using randomized algorithms. First, we show that maximizing the expected value of a randomized solution is equivalent to solving the lexicographic inference problem. As a result, the discrete problem is transformed into a continuous and unconstrained nonlinear program that can be solved, possibly only to a local optimum, using nonlinear optimization methods.
Read More
Download PDF
Type
Journal Article
Date
2019
Journal
Journal of Experimental Social Psychology

Reflections on enclothed cognition: Commentary on Burns et al.

Author
Adam, H. and Adam Galinsky
Read More
Type
Journal Article
Date
2019
Journal
Proceedings of the National Academy of Sciences

Reply to Guo et al. and Crede: Grit-S scale measures only perseverance, not passion, and its supposed subfactors are merely artifactors

Author
Jachimowicz, J.M., A. Wihler, E.R. Bailey, and Adam Galinsky

We (1) propose that evidence linking grit and performance is mixed because the measure used to assess grit—the Short Grit (Grit-S) scale (2)—captures only perseverance, not passion, whereas the definition of grit encompasses both perseverance and passion (3). Our studies find that the combination of perseverance (measured through the whole Grit-S scale) and passion (measured through the passion attainment scale) predicted higher performance.

Read More
Type
Journal Article
Date
2019
Journal
Journal of Economic Perspectives

Rising Government Debt: Causes and Solutions for a Decades-Old Trend

Author
Yared, Pierre

Over the past four decades, government debt as a fraction of GDP has been on an upward trajectory in advanced economies, approaching levels not reached since World War II. While normative macroeconomic theories can explain the increase in the level of debt in certain periods as a response to macroeconomic shocks, they cannot explain the broad-based long-run trend in debt accumulation. In contrast, political economy theories can explain the long-run trend as resulting from an aging population, rising political polarization, and rising electoral uncertainty across advanced economies.

Read More
Download PDF
Type
Journal Article
Date
2019
Journal
Marketing Science

Salesforce Contracting Under Uncertain Demand and Supply: Double Moral Hazard and Optimality of Smooth Contracts

Author
Dai, Tinglong and Kinshuk Jerath

We consider the compensation design problem of a firm that hires a salesperson to exert effort to increase demand. We assume both demand and supply to be uncertain with sales being the smaller of demand and supply and assume that, if demand exceeds supply, then unmet demand is unobservable (demand censoring).

Read More
Download PDF
Type
Journal Article
Date
2019
Journal
Food Quality and Preference

Sensory Variety in Shape and Color Influences Fruit and Vegetable Intake, Liking, and Purchase Intentions in Some Subsets of Adults: A Randomized Pilot Experiment

Author
Vadiveloo, Maya, Ludovica Principato, Christina Roberto, Vicki Morwitz, and Josiemer Mattei

Dietary variety increases food intake, but it is unclear if sensory differences elicit increases in eating-related behaviors. Using a 4×3 between-subject pilot experiment, we examined if increasing sensory variety (control, color, shape, both color and shape) and priming individuals to notice differences or similarities in the foods (positive, neutral, negative) influenced ad libitum proximal intake, liking, and willingness to purchase pears and peppers among 164 Greater Boston adults >18y/o.

Read More
Type
Working Paper
Date
2019

Social comparison in tie-formation: Which reference groups are relevant?

Author
Abraham, Mabel, Mathijs De Vaan, and Dan Wang
Read More
Type
Working Paper
Date
2019

Strategic Adaptation Amid Institutional Uncertainty in Foreign-Market Entry: The Case of Chinese Cross-Border Investment Syndicates, 1991 to 2011

Author
Wang, Dan
Read More
Type
Working Paper
Date
2019

Strategic Disclosure and Startup Funding

Author
Chiles, Bennett, Jorge Guzman, and S. Yu
Read More
Type
Working Paper
Date
2019

Taking the True Self out of Authenticity: A New Measure of Felt Authenticity

Author
Horton, Carl, Erica Bailey, and Sheena Iyengar
Read More
Type
Working Paper
Date
2019

The Artistic Value of a Human in the Age of the AI

Author
Horton, Carl, Aharon Levy, and Sheena Iyengar
Read More
Type
Working Paper
Date
2019

The Authenticity Challenge: How a Value Affirmation Exercise Can Engender Authentic Leadership

Author
Ingram, Paul, Yoonjin Choi, Carl Horton, and Sheena Iyengar
Read More
Type
Journal Article
Date
2019
Journal
Journal of Brand Strategy

The Brand Language Brief: A Pillar of Sound Brand Strategy

Author
Morais, Robert and Dawn Lerman

When carefully planned, language can be a strategic tool for managing a brand’s communication to target customers and for building brand equity. This paper explains how and why managers should conduct a brand language audit -- a comprehensive inventory of the many and varied linguistic devices used by brands in the category -- and then use the findings from the audit to develop a brand language brief. The brand language brief is a blueprint for crafting a distinctive language for a brand.

Read More
Download PDF
Type
Working Paper
Date
2019

The Differential Effects of Conformity versus Differentiation on Performance Outcomes in Music

Author
Mauskapf, Michael and Sophie Cho
Read More
Type
Working Paper
Date
2019

The Impact of Mentorship on Labor Market Outcomes: Evidence from a Natural Experiment in an Online Educational Platform

Author
Wang, Dan and Zhang Ting
Read More
Type
Working Paper
Date
2019

The Impact of State-Level R&D Tax Credits on the Quantity and Quality of Entrepreneurship

Author
Fazio, Cathy, Jorge Guzman, and Scott Stern
The acceleration of start-up activity is often cited as a rationale for the R&D tax credit, a key innovation policy instrument adopted increasingly by US states over the past quarter century. While there is a strong empirical base linking the R&D tax credit to increased R&D expenditures and innovation, prior work has not provided causal evidence that this policy effects the rate of formation and growth potential of new businesses.
Read More
Download PDF
Type
Working Paper
Date
2019

The Joint Impact of Revenue-Based Loyalty Program and Promotions on Consumer Purchase Behaviors

Author
Liu, Jia, Asim Ansari, and Leonard Lee
Read More
Type
Chapter
Date
2019
Book
The Oxford Handbook of Management Ideas

The Lifecycle of Management Ideas: Innovation, Diffusion, Institutionalization, Dormancy, and Rebirth

Author
Abrahamson, Eric and Alessandro Piazza
Read More
Type
Journal Article
Date
2019
Journal
Science Advances

The Politics of Zero-Sum Thinking: The Relationship Between Political Ideology and the Belief That Life Is a Zero-Sum Game

Author
Davidai, Shai and M. Ongis

The tendency to see life as zero-sum exacerbates political conflicts. Six studies (N = 3223) examine the relationship between political ideology and zero-sum thinking: the belief that one party's gains can only be obtained at the expense of another party's losses. We find that both liberals and conservatives view life as zero-sum when it benefits them to do so. Whereas conservatives exhibit zero-sum thinking when the status quo is challenged, liberals do so when the status quo is being upheld.

Read More
Download PDF
Type
Journal Article
Date
2019
Journal
Journal for Experimental Psychology: General

The Second Pugilist's Plight: Why People Believe They Are above Average, but Are Not Especially Happy about It

Author
Davidai, Shai and Sebastian Deri

People's tendency to rate themselves as above average is often taken as evidence of undue self-regard. Yet, everyday experience is occasioned with feelings of inadequacy and insecurity. How can these 2 experiences be reconciled? Across 12 studies (N = 2,474; including 4 preregistered studies) we argue that although people do indeed believe that they are above average they also hold themselves to standards of comparison that are well above average.

Read More
Type
Working Paper
Date
2019

The Simple Benefits of Saying Your Name in Pitch

Author
Horton, Carl and Sheena Iyengar
Read More
Type
Working Paper
Date
2019

The Social Foundations of Creativity: Evidence from Popular Music, 1955 to 2000

Author
Mauskapf, Michael, Noah Quintane, Noah Askin, and Joeri Mol
Creativity is central to cultural production, but what makes certain producers more likely to innovate than others? To answer this question, we leverage original data on over 25,000 musical artists and 600,000 songs recorded and released between 1955 and 2000, using fine-grained musical features to construct a continuous measure of creative output (i.e., song novelty). We then examine whether and when musicians draw creative inspiration through the recombination of diverse ideas, or are instead stimulated by the creativity of their musical neighbors.
Read More
Type
Working Paper
Date
2019

The State of American Entrepreneurship: New Estimates of the Quantity and Quality of Entrepreneurship for 32 US States, 1988-2014

Author
Guzman, Jorge and Scott Stern

Assessing the state of American entrepreneurship requires not simply counting the quantity but also the initial quality of new ventures. Combining comprehensive business registries and predictive analytics, we present estimates of entrepreneurial quantity and quality from 1988-2014. Rather than a secular pattern of declining business dynamism, our quality-adjusted measures follow a cyclical pattern sensitive to economic and capital market conditions.

Read More
Download PDF
Type
Working Paper
Date
2019

To Stay, Go, or Circulate? How Cross-Border Networks Affect Returnees' Transitional Migration Intentions

Author
Wang, Dan
Read More
Type
Working Paper
Date
2019

What Makes You Fly: Explaining Entrepreneurs' Success in Angel Investing

Author
Piazza, Alessandro and Dan Wang
Read More
Type
Journal Article
Date
2019
Journal
The Review of Financial Studies

What's the Catch? Suspicion in Bank Motives and Sluggish Refinancing

Author
Johnson, Eric, Stephan Meier, and Olivier Toubia

Failing to refinance a mortgage can cost a borrower thousands of dollars. Based on administrative data from a large financial institution, we show that around 50% of borrowers leave thousands of dollars on the table by not refinancing. Survey data indicate that, among all the behavioral factors examined, only suspicion of banks motives is consistently related to the probability of accepting a refinancing offer. Finally, we report the results of three field experiments showing that enticing offers made by banks fail to increase participation and may even deepen suspicion.

Read More
Download PDF
Type
Journal Article
Date
2019

What’s the Catch? Suspicion of Bank Motives and Sluggish Refinancing

Author
Johnson, Eric, Stephan Meier, and Olivier Toubia

Failing to refinance a mortgage can cost a borrower thousands of dollars. Based on administrative data from a large financial institution, we show that around 50% of borrowers leave thousands of dollars on the table by not refinancing. Survey data indicate that, among all the behavioral factors examined, only suspicion of banks’ motives is consistently related to the probability of accepting a refinancing offer. Finally, we report the results of three field experiments showing that enticing offers made by banks fail to increase participation and may even deepen suspicion.

Read More
Download PDF
Type
Working Paper
Date
2019

When Do Specialists Become Entrepreneurs? The Triggering Effect of Social Network Knowledge Diversity

Author
Wang, Dan, K.J. Hwang, and Modupe Akinola
Read More
Type
Journal Article
Date
2019
Journal
Journal of Marketing Research

When Words Sweat: Identifying Signals for Loan Default in the Text of Loan Applications

Author
Netzer, Oded, Alain Lemaire, and Michal Herzenstein

The authors present empirical evidence that borrowers, consciously or not, leave traces of their intentions, circumstances, and personality traits in the text they write when applying for a loan. This textual information has a substantial and significant ability to predict whether borrowers will pay back the loan above and beyond the financial and demographic variables commonly used in models predicting default.

Read More
Download PDF
Type
Working Paper
Date
2019

Women Don't Run? Gender and Experience Interact to Predict Political Candidate Emergence

Author
Pike, B., K. Wald, Mabel Abraham, and Adam Galinsky
Read More
Type
Journal Article
Date
2019
Journal
Motivation Science

Women's work: Remembering communal goals

Author
Moulton, E., Janet Ahn, E.L. Haines, and Malia Mason
Building on evidence that people coordinate mnemonic work, the current paper evaluates whether women exert greater mental effort than men to remember outstanding goals for which other people are beneficiaries. We demonstrate support for the notion that men and women expend unequal effort to encode and track communal goals: outstanding goals that benefit others. Studies 1a–1e demonstrate that women are assumed to be more communal in their remembering than men. Studies 2 and 3 explore the merit of this common assumption.
Read More
Download PDF
Type
Journal Article
Date
2019
Journal
Journal of the Association for Consumer Research

You Don't Blow Your Diet on Twinkies: Choice Processes When Choice Options Conflict with Incidental Goals

Author
Goldsmith, Kelly, Elizabeth Friedman, and Ravi Dhar

Consumers often have multiple goals that are active simultaneously and make choices to satisfy those goals. However, no work to date has studied how people choose when all available options serve a goal (e.g., a choice-set goal) that conflicts with another goal they hold (e.g., an incidental goal). We demonstrate that in such contexts, consumers are more likely to choose the option that is most instrumental for attaining the choice-set goal, even when that option poses the greatest violation of the incidental goal.

Read More
Download PDF
Type
Working Paper
Date
2018

The International Commonality of Idiosyncratic Variances

Author
Bekaert, Geert, Robert Hodrick, Xue Wang, and Xiaoyan Zhang

We establish several facts about the aggregate idiosyncratic variances of equity markets in 23 countries. First, we document strong global commonality in aggregate idiosyncratic variances of returns and cash flows across countries. Second, the global and country level common factors of the idiosyncratic return and cash flow variances are mostly but not always countercyclical. Third, the time series variation of these common factors in idiosyncratic variances of returns and cash flows are highly correlated.

Read More
Download PDF
Type
Working Paper
Date
2018

Leverage

Author
Santos, Tano and Pietro Veronesi
Many stylized facts of leverage, trading, and asset prices obtain in a frictionless general equilibrium model that features agents' heterogeneity in endowments and time-varying risk preferences. Our model predicts that aggregate debt increases in expansions when asset prices are high, volatility is low, and levered households enjoy a "consumption boom." Our model is consistent with poorer households borrowing more and with intermediaries' leverage being a priced factor. In crises, levered households strongly delever by "fire selling" their risky assets as asset prices drop.
Read More
Download PDF
Type
Journal Article
Date
2018

Incentive Contracts and Employee-Initiated Innovation: Evidence from the Field

Author
Cai, Wei, Susanna Gallani, and Jee-Eun Shin

Organizations often empower employees at all levels to propose innovation ideas that rely on their first-hand knowledge of their standard task (i.e. employee-initiated innovation). Many, however, struggle with motivating employees to develop innovative ideas that may benefit the firm, especially when the standard tasks for which employees are hired, measured and incentivized do not explicitly include innovation.

Read More
Type
Journal Article
Date
2018
Journal
Journal of Consumer Research

Apples, Oranges, and Erasers: The Effect of Considering Similar versus Dissimilar Alternatives on Purchase Decisions

Author
Friedman, Elizabeth, Jennifer Savary, and Ravi Dhar

When deciding whether to buy an item, consumers sometimes think about other ways they could spend their money. Past research has explored how increasing the salience of outside options (i.e., alternatives not immediately available in the choice set) influences purchase decisions, but whether the type of alternative considered systematically affects buying behavior remains an open question. Ten studies find that relative to considering alternatives that are similar to the target, considering dissimilar alternatives leads to a greater decrease in purchase intent for the target.

Read More
Type
Journal Article
Date
2018
Journal
Journal of Financial Economics

Fintech, Regulatory Arbitrage, and the Rise of Shadow Banks

Author
Buchak, Greg, Gregor Matvos, Tomasz Piskorski, and Amit Seru

Shadow bank market share in residential mortgage origination nearly doubled from 2007 to 2015, with particularly dramatic growth among online "fintech" lenders. We study how two forces, regulatory differences and technological advantages, contributed to this growth.

Read More
Type
Journal Article
Date
2018
Journal
Marketing Science

Probabilistic Topic Model for Hybrid Recommender Systems: A Stochastic Variational Bayesian Approach

Author
Ansari, Asim, Yang Li, and Jonathan Zhang

Internet recommender systems are popular in contexts that include heterogeneous consumers and numerous products. In such contexts, product features that adequately describe all the products are often not readily available. Content-based systems therefore rely on user-generated content such as product reviews or textual product tags to make recommendations.

Read More
Download PDF
Type
Working Paper
Date
2018

The Rise of the Dollar and Fall of the Euro as International Currencies

Author
Maggiori, Matteo, Brent Neiman, and Jesse Schreger

The modern notion of an international currency involves use in areas of international finance and trade that extend well beyond central banks' coffers. In addition to their important roles as foreign exchange reserves, international currencies are most frequently used to denominate corporate and government bonds, bank loans, and import and export invoices. These currencies offer unrivaled liquidity, constituting large shares of the volume on global foreign exchange markets, and are commonly chosen as the anchors targeted by countries with pegged or managed exchange rate regimes.

Read More
Download PDF
Type
Journal Article
Date
2018
Journal
Journal of Technology Transfer

Process Quality Management and Technological Innovation Revisited: A Contingency Perspective from an Emerging Market

Author
Harrigan, Kathryn, Jie Wu, and Zefu Wu

Following the efficiency logic that argues process quality management provides an important basis for firms’ internal controls over their innovation activities, this study which is set within emerging markets extends the literature by shedding light upon an interesting phenomenon: employing process quality management reduces purchasing risk for potential customers by conveying valuable information regarding the firms who employ it (a symbolic logic argument).

Read More
Type
Working Paper
Date
2018

A Dual Perspective on Information Design

Author
Galperti, Simone and Jacopo Perego

The problem of optimally designing information for multiple agents who interact in a game can be formulated as a linear program. We explore its dual representation and show that it provides a novel perspective and new economic insights into the information-design problem. Through the lens of the dual, we identify general properties that hold for all information-design problems. Duality also offers a portable, general, method for computing solutions. We illustrate this approach in the context of simple investment games.

Read More
Type
Journal Article
Date
2018
Journal
The Accounting Review

Accounting Conservatism and Incentives: Intertemporal Considerations

Author
Glover, Jonathan and H. Lin

We study the intertemporal properties of accounting conservatism with a focus on managerial incentives. In our main model, conservatism results in smaller expected payouts to the manager (agent) in early periods and larger expected payouts in later periods. Conservatism shifts (ambiguous) evidence that might be used to recognize good performance in early periods to later periods. In later periods, good performance is less informative, since good news might mean good current period performance and might also mean good prior period performance whose recognition was delayed.

Read More
Type
Journal Article
Date
2018
Journal
Journal of Experimental Social Psychology

Why Do Americans Believe in Economic Mobility? Economic Inequality, External Attributions of Wealth and Poverty, and the Belief in Economic Mobility

Author
Davidai, Shai

Although the rates of economic inequality in the United States are at their highest since the onset of The Great Depression, many Americans do not seem as concerned as may be expected. This apparent lack of concern has been attributed to people's deeply-entrenched belief in economic mobility -- the belief that through hard work, determination, and skill people are able to rise up the economic ladder. Little is known, however, about why Americans so strongly believe in economic mobility.

Read More
Type
Working Paper
Date
2018

Applying Asset Pricing Theory to Calibrate the Price of Climate Risk

Author
Daniel, Kent, Robert Litterman, and Gernot Wagner

Pricing greenhouse gas emissions involves making trade-offs between consumption today and unknown damages in the (distant) future. This setup calls for an optimal control model to determine the carbon dioxide (CO2) price. It also relies on society's willingness to substitute consumption across time and across uncertain states of nature, the forte of Epstein-Zin preference specifications.

Read More
Download PDF
Type
Working Paper
Date
2018

Does financial reporting misconduct pay off even when discovered?

Author
Huang, Serene, Shivaram Rajgopal, and Dan Amiram

Experts and popular beliefs suggest that it pays to engage in financial misconduct due to lax enforcement and punishment after 2003. We focus on the most serious cases of financial reporting misconduct and hand collect data on three subsamples of severe misconduct cases, between 2003 and 2015: a sample of 37 (100) SEC enforcement actions (class action lawsuits) that explicitly allege fraud and a sample of 100 restatements with the most negative market reaction in which investors presumably suspect fraud.

Read More
Download PDF
Type
Journal Article
Date
2018
Journal
Management Science

Dynamic Pricing under Debt: Spiraling Distortions and Efficiency Losses

Author
Besbes, Omar, Dan Iancu, and Nikos Trichakis

Firms often finance their inventory through debt and subsequently sell it to generate profits and service the debt. Pricing of products is consequently driven by both inventory and debt servicing considerations. In the present paper, we analyze how debt distorts dynamic pricing decisions and reduces generated sales revenues. We show that debt induces sellers to always price higher than the revenue-maximizing price.

Read More
Download PDF

Pagination

  • First page 1
  • Ellipsis …
  • Page 9
  • Page 10
  • Page 11
  • Page 12
  • Current page 13
  • Page 14
  • Page 15
  • Page 16
  • Page 17
  • Ellipsis …
  • Last page 96
  • Read the Latest Research Briefs
Official Logo of Columbia Business School

Columbia University in the City of New York
665 West 130th Street, New York, NY 10027
Tel. 212-854-1100

Maps and Directions
    • Centers & Programs
    • Current Students
    • Corporate
    • Directory
    • Support Us
    • Recruiters & Partners
    • Faculty & Staff
    • Newsroom
    • Careers
    • Contact Us
    • Privacy & Policy Statements
Back to Top Upward arrow
TOP

© Columbia University

  • Twitter
  • Instagram
  • Facebook
  • YouTube
  • LinkedIn