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WFH in the Kitchen
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Firms With Overseas Networks Had an Early Warning About COVID-19

Companies with networks in China and Italy responded to the pandemic and enacted work-from-home policies faster than local governments.

business people talking at conference table
Feature

The Gender Factor in Investing

New research explores how biases can affect the funding of female-led ventures.

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The Best of Bizcast 2020

A look back at some of our most popular podcasts from 2020.

Press

How You Feel Depends on Where You Are

Research from Sandra Matz shows that environment shapes our moods, potentially shedding light on the impact on individuals of months of isolation at home.

Press

Stereotypes Harm Black Lives and Livelihoods, but Research Suggests Ways to Improve Things

Modupe Akinola discusses her work on stereotyping, and how research can help us overcome our biases.

Press

Levi’s Agrees to #Payup, as Advocates Demand More for Garment Workers

The retailer is well-positioned to soften the blow dealt to garment workers by the pandemic, according to Urooj Khan.

Press

Do Americans Even Need A Second Stimulus Check?

For those with the least savings, stimulus checks provided a vital source of liquidity, Michaela Pagel and R.A. Farrokhnia find.

Latest Research

The Information Mechanism in Corporate Citizenship: Evidence from COVID-19

Authors
Lisa Liu, and Shirley Lu
Date
1 / 3

We explore firms' ability to collect, verify, and use information as a mechanism that facilitates the role of companies as powerful corporate citizens who can mitigate societal problems. Specifically, we study whether US firms' business networks with China and Italy are information networks and whether firms use relevant information to mitigate the negative impacts of COVID-19. We first show descriptive evidence that firms with these networks have relevant information about COVID-19. We then document higher stay-at-home ratios in areas with more information-exposure companies before local city governments impose measures, suggesting that firms act on relevant information to safeguard employee health. We find the effects are more pronounced when industries are teleworkable, when regulators have information constraints, and when the information is verifiable or trustworthy. Finally, we show a lower growth in COVID-19 in areas with higher stay-at-home ratios, suggesting a positive impact of firms’ corporate citizenship

Evidence That Investors Penalize Female Founders for Lack of Industry Fit

Authors
Damon Phillips, Dana Kanze, Mark Conley, Tyler Okimoto, and Jennifer Merluzzi
Date
2 / 3

Are female founding CEOs penalized when raising funds for their ventures based on industry served? Across an observational study conducted on ventures seeking funding (N = 392) and an experimental study conducted on investors allocating venture funding (N = 130), we find evidence for a “lack of fit” effect: Female-led ventures catering to male-dominated industries receive significantly less funding at significantly lower valuations than female-led ventures catering to female-dominated industries. In contrast, male-led ventures attain similar funding and valuation outcomes regardless of the gender dominance of the industries to which they cater. We confirm that this is because investors perceive lower degrees of fit between founding CEO and venture for female-led ventures catering to male- as opposed to female-dominated industries (with no perceived fit differences for male-led ventures across industries). Degree of investor sophistication emerges as a potential attenuating factor, appearing to help reduce gender bias from perceived lack of fit.

Deadlock on the Board

Authors
Giorgia Piacentino, Jason Roderick Donaldson, and Nadya Malenko
Date
Format
Journal Article
Journal
Management Science
3 / 3

We develop a dynamic model of board decision-making akin to dynamic voting models in the political economy literature. We show a board could retain a policy all directors agree is worse than an available alternative. Thus, directors may retain a CEO they agree is bad—deadlocked boards lead to entrenched CEOs. We explore how to compose boards and appoint directors to mitigate deadlock. We find board diversity and long director tenure can exacerbate deadlock. We rationalize why CEOs and incumbent directors have power to appoint new directors: to avoid deadlock. Our model speaks to short-termism, staggered boards, and proxy access.

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Webinar
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The Workplace

Increasing Connections With Others

Professor Michael Slepian discusses his latest research on how to foster feelings of inclusion, belonging, and authenticity at the workplace and the world at large.

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What Globalization Means to Me

Gita Johar, the vice dean for Diversity, Equity, and Inclusion and the Meyer Feldberg Professor of Business, offers her take on globalization.

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CBS Startup Stories: Wandering Bear Coffee

Founders Matt Bachmann ’15 and Ben Gordon ’15 share lessons learned while building their multi–million-dollar company.

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2020: A Test of Leadership

A look at what it meant to be a leader in a year unlike any other.

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