Publications

We confront the two opposing views of capital account liberalization in developing countries with a new firm-level dataset on investment, stock prices, and sales. In the three-year period following liberalizations, the growth rate of the typical…

The minority party is rarely featured in empirical research on parties in legislatures, and recent theories of parties in legislatures are rarely neutral and balanced in their treatment of the two parties. This paper makes a case for redressing…

We contend that two important, nonrelational, features of formal interorganizational networks—geographic propinquity and organizational form—fundamentally alter the flow of information through a network. Within regional economies, contractual…

This paper provides a large-deviations approximation of the tail distribution of total financial losses on a portfolio consisting of many positions. Applications include the total default losses on a bank portfolio, or the total claims…

While leaders need analytical competencies such as those associated with strategy, finance and all the planning processes, research on Emotional Intelligence (as reported by Goleman, “What Makes a Leader?”, HBR, 1998) suggests it is increasingly…

A framework is introduced for evaluating static micro-analytic theories in dynamic macro-political settings. Within the framework, two theories of lawmaking are compared. Analytically, the predictions of the theories are remarkably similar-…

Information integration efforts between manufacturers and retailers, in the form of information sharing, synchronized replenishment, and collaborative product design and development, have been cited as major means to improve supply chain…

To explore this provocative topic in depth, scholars and practitioners gathered at Harvard on March 11–12, 2004 for Misuses of Power: Causes and Corrections, sponsored by the Center for Public Leadership and the…

Today’s marketplace is characterized by turbulence and uncertainty. Market turbulence has tended to increase for a number of reasons. Demand in almost every industrial sector seems to be more volatile than was the case in the past. Product…

Using Monte Carlo simulations, this paper evaluates the bias properties of common estimators used in growth regressions derived from the Solow model. We explicitly allow for measurement error in the right-hand side variables, as well as country-…

We derive a parsimonious rational model of active portfolio management that reproduces many regularities widely regarded as anomalous. Fund flows rationally respond to past performance in the model even though performance is not persistent and…

This study illustrates how a manufacturer can use lead time differentiation–selling the same product to different customers at different prices based on delivery lead time–to simultaneously increase revenue and reduce capacity requirements. The…

Spot markets have emerged for a broad range of commodities, and companies have started to use them in addition to their traditional, long-term procurement contracts (forward contracts). In comparison to forward contracts, spot markets offer…

Organizational culture Organizational culture is embedded in the everyday working lives of all cultural members. Manifestations of cultures in organizations include formal practices (such as pay levels, structure of the HIERARCHY,JOB DESCRIPTIONS…

Political parties are active when citizens choose among candidates in elections, and when winning candidates choose among policy alternatives in government. But the inextricably linked institutions, incentives, and behavior that determine these…

This paper considers two firms that engage in joint production. The prospect of repeated interaction introduces dynamics in that actions that firms take today influence the costliness and effectiveness of actions in the future. Repeated…

This paper develops and analyzes a queueing model to examine the role of patient choice on the high rate of organ refusals in the kidney transplant waiting system. The model is an M/M/1 queue with homogeneous patients and exponential reneging.…

The news media plays an essential role in society, but surveys indicate that the public views the media as biased. This paper presents a theory of media bias that originates with private information obtained by journalists through their…