Publications

Foreign portfolio flows may reflect deep changes in the functioning of an emerging market economy and its capital markets. Using a database of monthly net U.S. equity flows, we investigate the relation of these flows to the behavior of equity…

This research examines how a market incumbent’s competitive reputation with a potential entrant can deter market entry in the context of multimarket competition. The authors use a judgment experiment to examine this relationship. In a setting…

A widely deplored bias in organizational decision-making is attributing an accident simply to “human error” and them attempting to correct the problem through changing employees rather than changing the technological or organizational environment…

US joint ventures with Asian firms often flounder because cultural differences impede the smooth resolution of conflicts between managers. In a survey of young managers in the US, PRC, Philippines, and India, we find support for two hypotheses…

Measuring the integration of world capital markets is notoriously difficult. For example, regulatory changes which appear comprehensive may have little impact on the functioning of the capital market if they fail to lead to foreign portfolio…

We develop a model of the extent to which multinational companies use global account management (GAM), its determinants, and its effects on performance. A study of 191 senior executives’ perceptions, using structural equations modeling, shows…

In designing the spreadsheet optimizer that is bundled with Microsoft Excel, we and Microsoft made certain choices in designing its user interface, model processing, and solution algorithms for linear, nonlinear, and integer programs. We describe…

This paper examines how founding conditions shape subsequent organizational evolution— specifically, the proliferation of management and administrative jobs. Analyzing quantitative and qualitative information on a sample of young technology start…

This study examines an aspect of competitive interactions that has attracted increasing research attention: the relationship between deterrence and competitive reputations. We build a conceptual model of the antecedents and consequences of a firm…

Using a sample of banks, this study examines the capital market pricing implications of discretionary and nondiscretionary components of loan fair value estimates. We conduct our analysis in two stages. First, we determine the discretionary…

Stock market liberalizations lead private investment booms. In a sample of 11 developing countries that liberalized, 9 experience growth rates of private investment above their non-liberalization median in the first year after liberalizing. In…

The paper shows that under realistic conditions the Internet does not always increase price competition. We explore the effect of the Internet on consumers’ search behavior in a competitive setting, where consumers need to gather information on…

This paper presents a theory of parliamentary systems that incorporates electoral, government formation, and legislative institutions and focuses on the strategic opportunities inherent in those institutions. The electoral system is proportional…

In this chapter, we investigate the cognitive and motivational underpinnings of attitudes toward social and organizational systems. Specifically, we draw on the theory of lay epistemics to address individual and situational variations in the…

This research examines the persuasive impact of different types of emotional appeals on members of collective versus individualist cultures. The results of two experiments demonstrated that ego-focused (e.g., pride, happiness) versus other-…

Currency fluctuations provide a substantial source of movements in relative prices that is largely exogenous to the firm. This paper evaluates empirically and theoretically the importance of exchange rate movements on job reallocation across and…

We were honored to receive the 1996 prize of the Strategic Management Society (in cooperation with John Wiley and Sons) for our 1988 paper, “First-Mover Advantages.” It is customary for the award recipients to write a brief article reflecting on…

Traditional approaches to valuing equities have largely focused on the Dividend Discount Model. It may be hard to reliably estimate dividend processes in small samples and market participants focus primarily on earnings and other accounting…

The paper proposes a new methodology called the “coupled-hazard approach” to study the global diffusion of technological innovations. This coupled approach addresses several methodological challenges arising from the global nature of the…