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Taxes & Business Strategy (5th edition)
For MBA students and graduates embarking on careers in investment banking, corporate finance, strategy consulting, money management, or venture capital.
Through integration with traditional MBA topics, Taxes and Business Strategy…
The BDT Effect and Future: A Reply to John Lynch and Norbert Schwarz
Lynch (2015) and Schwarz (2015) offer different assessments and perspectives regarding the (“(nearly) accomplished”) mission and characteristics of BDT research and its contribution to our field (Simonson, 2015). Whereas Lynch and I are largely…
The Effect of Repatriation Tax Costs on Multinational Investment
The Missing “One-Offs”: The Hidden Supply of High-Achieving, Low-Income Students
We show that the vast majority of low-income high achievers do not apply to any selective college. This is despite the fact that selective institutions typically cost them less, owing to generous financial aid, than the two-year and nonselective…
The Persistence of Lenient Market Categories
Research across disciplines presumes that market categories will have strong boundaries. Categories without well-defined boundaries typically are not useful so are expected to fade away. We suggest many contexts contain lenient…
The Politics of Accounting Standard-setting: A Review of Empirical Research
We provide an overview of the empirical literature on the politics of accounting standard setting, focusing on the U.S. Financial Accounting Standards Board (FASB). Although it is clear from casual observation that politics sometimes plays a…
The Valuation of Management Control Systems in Start-Up Companies: International Field-Based Evidence
The question of whether management control systems (MCSs) adopted by start-up companies are valuable is examined. We investigate an international sample of start-ups, including their detailed MCS adoptions and financing histories. We find that…
“Those Who Know Most”: Insider Trading in 18th Century Amsterdam
This paper studies how private information is incorporated into prices, using a unique setting from the eighteenth century that is closer to stylized models of price discovery than modern-day markets. Specifically, the paper looks at English…
Transforming Access and Delivery of Essential Medicines
This presentation is an overview of supply chain best practices that can improve health access and delivery in emerging economies.
Values in Words: Using Language to Evaluate and Understand Personal Values
People’s values provide a decision-making framework that helps guide their everyday actions. Most popular methods of assessing values show tenuous relationships with everyday behaviors. Using a new Amazon Mechanical Turk dataset (N = 767)…
Legislative Organization and Ideal-Point Bias
Four pure types of legislative organization are characterized as data-generating processes for commonly used measures of preferences or, in the spatial vernacular, ideal points. The types of legislative organizations are differentiated by their…
Resolution of Failing Central Counterparties
A central counterparty (CCP) is a financial market utility that lowers counterparty default risk on specified financial contracts by acting as a buyer to every seller, and as a seller to every buyer. When at risk of failure, a CCP could be…
Managing on Rugged Landscapes
An emergent theme in the study of organizations is the broad differences in managerial practice and performance across firms. We develop an explanation for these phenomena that turns on the complexity of the environments that firms…
Maturity in Responsible Supply Chain Management
Today’s multinational companies are held to myriad social, environmental, and ethical standards in their supply chains. But despite efforts at monitoring, buyers routinely face challenges when working with suppliers to meet and exceed standards.…
The Promise and Problems of Organizational Culture
Studies of organizational culture are almost always based on two assumptions: (a) Senior leaders are the prime determinant of the culture, and (b) culture is related to consequential organizational outcomes. Although intuitively reasonable and…
Bayesian Inference Does Not Lead You Astray…on Average
The expected value of the log of a Bayesian’s posterior assessment of the true state of nature, computed under the probability law of the true state, is always at least as large as the log of the prior.
Conservatism Correction for the Market-to-Book Ratio and Tobin's q
We decompose the market-to-book ratio into two additive components: a conservatism correction factor and a future-to-book ratio. The conservatism correction factor exceeds the benchmark value of one whenever the accounting for past transactions…
Estimating the Incidence of Government Spending
This paper analyzes the economic incidence of sustained changes in federal government spending at the local level. We use a new identification strategy to isolate geographical variation in formula-based federal spending and develop three sets of…
External Validity in Fuzzy Regression Discontinuity Designs
Many empirical studies use Fuzzy Regression Discontinuity (FRD) designs to identify treatment effects when the receipt of treatment is potentially correlated to outcomes. Existing FRD methods identify the local average treatment effect (LATE) on…
Ideological Proximity and Support for The Supreme Court
Although the Supreme Court is a counter-majoritarian institution by design, many scholars have contended that without concrete powers, the Court relies on public support for legitimacy. Accordingly, it is important to understand the relationship…