Publications

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…

We develop an equilibrium theory of business cycles driven by spikes in risk premiums that depress business demand for capital and labor. Aggregate shocks increase firms’ uninsurable idiosyncratic risk and raise risk premiums. We show that risk…

Social insurance is often linked to marriage. Existing evidence suggests small marital responses to financial incentives and stems from settings where benefits are realized in the near future. I analyze how linking survivors insurance to marriage…

Recent advances in advertising technology have lead to the development of “native advertising,” which is a format of advertising that mimics the other nonsponsored content on the medium. Whereas advertisers have rapidly embraced the format on a…

We develop a valuation model for venture capital-backed companies and apply it to 135 US unicorns, that is, private companies with reported valuations above $1 billion. We value unicorns using financial terms from legal filings and find that…

For many machine learning algorithms, two main assumptions are required to guarantee performance. One is that the test data are drawn from the same distribution as the training data, and the other is that the model is correctly specified. In real…

Culture is easy to sense but hard to measure. The workhorses of culture research—employee surveys and questionnaires—are often unreliable. Studying the language that employees use in electronic communication has opened a new window into…

The board of directors plays a central role in the corporate governance system. All countries require that publicly listed companies have a board. While their attributes vary across nations, they universally share common responsibilities.

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A board of directors requires professionals with a diverse mix of managerial, functional, and other specialized knowledge in order to properly advise and oversee management. This Quick Guide reviews the process by which companies select,…

The board of directors is generally described in terms of its prominent structural attributes, including size, composition, and independence. This Quick Guide examines the importance of these, and whether they contribute to board effectiveness…

A company offer a competitive compensation arrangement in order to attract, retain, and motivate a qualified CEO to manage the organization.

This quick guide examines the elements of executive compensation and the process by which the…