Skip to main content

Faculty Research

Image of Organized Innovation: A Blueprint for Renewing America’s Prosperity

Organized Innovation: A Blueprint for Renewing America’s Prosperity
Oxford University Press, 2014

An innovation gap has emerged as American universities have focused on basic research and industry has concentrated on incremental product development. This gap has widened in recent decades, and the country has failed to close the gap in large part because of three myths-that innovation is about lone geniuses, the free market, and serendipity.

Image of Normal Organizational Wrongdoing: A Critical Analysis of Theories of Misconduct in and by Organizations

Normal Organizational Wrongdoing: A Critical Analysis of Theories of Misconduct in and by Organizations
Oxford University Press

Instances of wrongdoing in and by organizations are prevalent in modern society, perhaps increasingly so in recent years.  Why do organizational participants—employees, managers, senior officials—engage in illegal, unethical, and socially irresponsible behavior?


The Role of Institutional Investors in Propagating the Crisis of 2007-2008
Journal of Financial Economics, 2011

Using a novel data of institutional investors’ bond holdings, Associate Professor Ayako Yasuda and co-authors Alberto Manconi from Tilburg University and Massimo Massa from INSEAD examine a transmission of the crisis of 2007-08 from the securitized bond market to the corporate bond market via joint ownership of these bonds by investors.

The authors posit that, ceteris paribus, corporate bonds held by investors with high exposure to securitized bonds and liquidity needs experience greater selling pressure and price declines (yield increases) at the onset of the crisis.

Spotlight Story
Image of Why Good People Do Bad Things

Why Good People Do Bad Things

Steps can be taken to pinpoint and foil premeditated corporate and white-collar crime committed by workers trying to beat the system for their own self-interest. But what about wrongdoing committed by workers who unwittingly engage in illegal activities that become woven into the fabric of the company?


The Mortgage Meltdown as Normal Accidental Wrongdoing
Strategic Organization, 2010

In this paper Professor Michael Maher and Professor Donald Palmer analyze the mortgage meltdown as a “normal accident” (Perrow, 1984). They begin by briefly outlining normal accident theory; both Perrow’s original version and Mezias’ (1994) subsequent extension. They then use normal accident theory to analyze the mortgage meltdown and draw a few insights from our account. They then consider the relationship between normal accidents and wrongdoing; a vexing question for both normal accident theory and observers of the meltdown.


Real Estate Bubble Crystal Ball? The Great Depression and Manhattan Home Prices

A decade before the 1929 stock market crash there was a booming real estate market in New York City that Assistant Professor Anna Scherbina says resembles the housing bubble of the 1990s and 2000s.

In a recent radio interview, Scherbina discussed an index of home prices in Manhattan between 1920 and 1939 that she and Associate Professor Tom Nicholas of the Harvard Business School collected by hand from the Manhattan Public Library archives. This data set is informative because the housing market in Manhattan represented 5% to 10% of all the U.S. real estate wealth at that time.


Improved Corporate Governance Reduces Auditing Fees

Professor Paul Griffin and his coauthors David Lont and Yuan Sun of the School of Business, University Otago, Dunedin, recently presented their article “Corporate Governance and Audit Fees: Evidence of Countervailing Relations” at a joint symposium hosted by the Journal of Contemporary Accounting and Economics and Auditing: A Journal of Practice & Theory at The Hong Kong Polytechnic University on January 4-5, 2008.


Monitoring the Monitor: Evaluating CalPERS’ Shareholder Activism
The Journal of Investing, 2007

For almost two decades, the California Public Employees’ Retirement System (CalPERS), the nation’s largest public pension fund with more than $207 billion in assets, has been active in pursuing corporate reforms. CalPERS is generally credited as a founder of shareholder activism stemming from its heightened proxy voting activity at companies in the mid-1980s.

Log in