Program For Financial Studies Channel

When India mandated that firms spend at least 2 percent of income on corporate social responsibility initiatives, there was an odd result: many firms reduced CSR spending. 

New research shows how a cutting-edge mathematical model can help businesses make more personalized recommendations for consumers.

Misguided beliefs about how relationships work can quietly drive dominant behavior – and spark distrust from employees.

A new economic model shows how companies accumulate your information the way they once accumulated factories—and how that changes what you pay.

A new rent index methodology from Columbia and CompStak uses detailed lease data to track rent changes for comparable CRE space across locations and over time, avoiding the composition biases that distort traditional measures.Stijn Van NieuwerburghEarle W. Kazis and Benjamin Schore Professor of Real Estate, Finance Division Wayne YuSVP of Data, CompStak

A large-scale global study of 3,322 publicly listed firms across 32 OECD countries finds that family involvement is, on average, associated with lower market valuation, particularly when renewal investment is weak or governance rigor is unclear. While family ownership is discounted less in strong institutional environments, the valuation penalty tied to family CEOs persists across contexts. Crucially, underinvestment in R&D partially explains this performance gap, suggesting that visible, disciplined innovation is a key credibility signal to markets.For family enterprises, the message is not anti-control. It is structural: legacy, governance, and geography determine whether family influence fuels long-term value or quietly contributes to “innovation reluctance.”

Pearl Health was founded to empower independent physicians through data and value-based care. This vision has only accelerated with the advent of AI.