Innovator Article

Stock Values Rise When Companies Disclose “Green” Information

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The past year has witnessed an explosion of research supporting the Voluntary Disclosure Theory, which suggests that how much a company discloses is in direct correlation to investors’ premium, increased stock price, elevated consumer trust and a more powerful employer brand. According to a recent study by Professor Paul Griffin, it pays to be green. Griffin and his co-author, Yuan Sun of UC Berkeley, tracked stock prices of firms around the time these companies voluntarily issued press releases disclosing carbon emission information.

The study, “Going Green: Market Reaction to CSR Newswire Releases,” uses the archives of the Corporate Social Responsibility Newswire to identify climate change related press releases issued by companies between 2000 and 2010. For the 172 companies identified as making voluntary disclosures, average stock prices increased just under a half percent in the five-day span around the disclosures, according to the study.

“Companies should not be as reluctant as they have been to provide this information because we show that it can be shareholder positive,” Griffin explains. “Investors are saying they would prefer to invest in an environmentally responsible firm.”

Corporate Bond Market Research Earns Best Paper Awards

Griffin has teamed with Assistant Professor Hyan Hong of the University of Memphis on research focused on the impact of short sellers on the corporate bond market. Savvy investors who follow short sellers to predict bearish news about a company’s stock­­­­­­­­—and sell their stocks in that company to avoid losses—should also keep an eye on the company’s bonds, according to their working paper, “Price Discovery in the Corporate Bond Market: The Informational Role of Short Interest.” Their study won both the Best Accounting Paper and Overall Best Paper from more than 90 submissions at the 2012 Financial Markets and Corporate Governance Conference hosted in April by La Trobe University in Melbourne, Australia.

New Appointment as Associate Dean of Academic Affairs

On July 1, Griffin began a three-year term as associate dean for academic affairs. Griffin previously served in the position from 1999–2004. Dean Steven Currall appointed Griffin to step in for Associate Dean Michael Maher, who is on medical leave.

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News Release

UC Davis Part-Time MBA Ranked in Nation’s Top 9%
Fourth Consecutive Year among U.S News & World Report's Premier Programs

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(Davis, CA) — The UC Davis Part-Time MBA program offered in Sacramento and the San Francisco Bay Area is ranked among the top 9% in the U.S., according to U.S. News & World Report’s latest graduate business school rankings.

At No. 29, this is the fourth consecutive year the UC Davis Part-Time MBA program is among the top AACSB International-accredited part-time MBA programs surveyed. This year, there were 323 part-time MBA programs surveyed.

News Release

UC Davis Full-Time MBA Ranked among Nation’s Premier Programs for 20th Consecutive Year
MBA Programs among Top 10% in U.S.
Record Salary and Bonus

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(Davis, CA) — The UC Davis Graduate School of Management’s Full-Time MBA program is ranked among the premier business schools in the nation for the 20th consecutive year, according to U.S. News & World Report’s latest graduate business school rankings released today.

U.S. News’ latest ranking places the Full-Time MBA program at No. 48, placing it among the top 10% of the 464 Association to Advance Collegiate Schools of Business International’s accredited full-time MBA programs surveyed.

Key statistics from the School’s Full-Time MBA ranking include:

News Release

UC Davis Graduate School of Management partners with Lawrence Livermore and Sandia National Labs to drive technologies from lab to market

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(Davis, Calif.) – With a joint goal of speeding the transfer of new technologies from the laboratory to the commercial marketplace, the UC Davis Graduate School of Management, Lawrence Livermore National Laboratory and Sandia National Laboratories have announced a new partnership for researchers to develop their entrepreneurial skills.

Spotlight Story

Vickie Sherman MBA 13 Finds Her Passion, Her Career—and Herself

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What opportunities, decisions, events have shaped your professional life?

My career path has been a climb across a jungle gym rather than a tangent up a corporate ladder. As a child, I used to thumb through the three-inch JCPenney catalogue, picking out the professional women who I would grow to be. I wanted to rule the world from a corner office in a suit and heels. I wanted to shed my humble origins and become Corporate Barbie.

Spotlight Story

MBA Student Consultants Make an IMPACT
Projects Put Business Needs Front and Center

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Agilent Technologies’ Electronic Measurement Group is a $3.6 billion business that over the past decade has seen a dramatic shift in its customer base from U.S., and Western European customers to predominantly Asia-based customers. Today, the majority of the division’s revenues are generated outside of the U.S., with an increasing concentration in China.