Publications

This paper reports on the results of a global field study conducted in 2014 and 2015 among leading manufacturers from a wide range of industries. It provides insights on managerial practices that concern production sourcing and on the factors…

A healthy and stable financial system enables efficient resource allocation and risk sharing. A reckless and distorted system, however, causes enormous harm. The cycles of boom, bust, and crisis that repeatedly plague banking and finance are…

Essential resources, like electricity and water, can experience rapidly changing demand or supply while the other side of the market is unchanged. Short-run price variation could efficiently allocate resources at these critical times but only if…

Consider a researcher estimating the parameters of a regression function based on data for all 50 states in the United States or on data for all visits to a website. What is the interpretation of the estimated parameters and the standard errors?…

For the past five years, the Stanford Latino Entrepreneurship Initiative has collected survey data from Latino-owned businesses across the country to provide an updated account of the latest trends in Latino entrepreneurship in the United States…

We use trade-level data to examine the role of actively managed funds (AMFs) in earnings news dissemination.  We find AMFs are drawn to, and participate disproportionately more in, earnings announcements (EAs) that include bundled managerial…

In this paper I discuss how theoretical models in finance and economics are used in ways that make them ‘chameleons’, and how chameleons devalue the intellectual currency and muddy policy debates. A model becomes a chameleon when it is built on…

We study the class of multiround, multiproduct clock procurement auctions that reduce offered prices at each round. When prices stop declining, the remaining bidders become the winning sellers. For single-minded bidders, each such auction has…

Pharmaceuticals are a subset of micropollutants, present in the environment in trace concentrations. Because of their persistent nature, these chemicals are of particular concern. Little is known about how mixtures of pharmaceutical residues,…

This paper considers how research in operations management can support the development of strategies for the design and management of global supply chains. It includes a model-based statement of the problem and an overview of highlights of past…

We model a dynamic economy with strategic complementarity among investors and study how endogenous government interventions mitigate coordination failures. We establish equilibrium existence and uniqueness, and we show that one intervention can…

Manufacturing & Service Operations Management (M&SOM) has published papers of importance for poverty alleviation. Yet rich opportunities for impactful research remain as yet untapped. Operations…

The question we address is whether mandated disclosure about dispersion of nonfinancial asset values can provide information relevant to assessing firm risk. Using a sample of Canadian oil and gas (O&G) firms between 2004 and 2011, we find…

Corporate executives receive a considerable portion of their compensation in the form of equity and, from time to time, sell a portion of their holdings in the open market. Executives nearly always have access to nonpublic information about the…

In many democracies, parties use primary elections to nominate candidates. Primaries may help select quality candidates, but they can expose flaws and offend losing candidates’ supporters. Do divisive primaries help or harm parties in the general…

We survey 885 institutional venture capitalists (VCs) at 681 firms to learn how they make decisions. Using the framework in Kaplan and Strömberg (2001), we provide detailed information on VCs’ practices in pre-investment screening (sourcing…

The parasite stress hypothesis predicts that individuals living in regions with higher infectious disease rates will show lower openness, agreeableness, and extraversion, but higher conscientiousness. This article, using data from more than 250,…

Organizational leaders are increasingly turning to design approaches as a panacea for uncertainty and disruption. However, frictions between design and typical engineering and management practices make integrating design into organizations…

We establish currency as an important factor shaping global portfolios. Using a new security level dataset, we demonstrate that investor holdings are biased toward their own currencies to such an extent that countries typically hold most of the…

We develop a measure of how information events impact investors’ perceptions of firms’ riskiness. We derive this measure from an option-pricing model where investors anticipate an announcement containing information on the mean and variance of…