Publications

Big data and the related methodologies could have great impacts on operations and supply chain management. Such impacts could be realized through innovations leveraging big data. The innovations can be described as first improving existing…

This Data Spotlight provides data and statistics on the attributes of boards of directors of publicly traded companies in the United States. This data supplements the issues introduced in the Quick Guide “…

Companies in the United States are staying private longer, and this trend has important implications for companies and their employees. Employees holding equity awards in private companies are restricted from monetizing an illiquid asset that…

This Data Spotlight provides data and statistics on unethical behavior in corporations and other negative outcomes including bankruptcy, litigation, and corruption in the United States. This data supplements in the issues introduced in the Quick…

Empirical evidence suggests that firms often manipulate reported numbers to avoid debt covenant violations. We study how a firm’s ability to manipulate reports affects the terms of its debt contracts and the resulting investment and manipulation…

This study addresses whether voluntary IFRS adoption is associated with increased comparability of accounting amounts and capital market benefits. We find that after firms voluntarily adopt IFRS (“adopting” firms), their accounting amounts are…

WFA Award for Best Paper on Financial Institutions

How does the shadow banking system respond to changes in capital regulation of commercial banks? We propose a tractable quantitative general equilibrium model with…

We develop a model of the joint capital structure decisions of banks and their borrowers. Bank leverage of 85% or higher emerges because bank seniority both dramatically reduces bank asset volatility and incentivizes risk-taking by producing a…

Students with identical valuations for public schools but unequal outside options have different opportunity costs of revealing their preferences. Consequently, manipulable mechanisms need not resolve conflicting preferences in a Pareto-improving…

Vital scientific communications are frequently misinterpreted by the lay public as a result of motivated reasoning, where people misconstrue data to fit their political and psychological biases. In the case of climate change, some people have…

Workplace stress is exacting an ever-higher physical and psychological toll. It adversely affects productivity, drives up voluntary turnover, and costs US employers nearly $200 billion every year in healthcare costs. Many companies are aware of…

Over the past decade, solar photovoltaic (PV) power has experienced dramatic deployment growth coupled with substantial decreases in system prices. This article examines how solar PV power is currently positioned in the electricity marketplace…

Managed competition is a concept that was born in California and has achieved a measure of acceptance there. As California and the United States as a whole continue to struggle with the challenge of providing high-quality health care at a…

Organizations normally benefit from being perceived as authentic. Yet an ongoing puzzle persists about self-claims of authenticity: while the weight of findings suggests that individuals will devalue organizations touting themselves as authentic…

This study reports on the current state-of-affairs in the funding of entrepreneurship and innovations in China and provides a broad survey of academic findings on the subject. We discuss the implications of these findings for public policies…

This paper examines when and under what conditions whom to hire is a strategic decision. We identify four mechanisms involved in hiring that add to the “strategicness” of human capital decisions. We posit that, to the degree that human capital…

Effectively delegating work to others is considered critical to managerial success, as it frees up managers’ time and develops subordinates’ skills. We propose that female leaders are less likely than male leaders to capitalize on these benefits…

In this paper we study estimation of and inference for average treatment effects in a setting with panel data. We focus on the setting where units, e.g., individuals, firms, or states, adopt the policy or treatment of interest at a particular…

Two modern economic trends are the increase in firm size and advances in information technology. We explore the hypothesis that big data disproportionately benefits big firms. Because they have more economic activity and…

Forthcoming at Economica

In this essay I discuss how theoretical models in finance and economics are used in ways that make them “…