A meticulously researched study by William Lazonick, a professor at the University of Massachusetts Lowell, suggests that executives are using massive stock buybacks to manipulate share prices and boost their own pay—at great cost to innovation and employment.
What Rebekah Brooks can teach us about power http://t.co/lIcLIBljFP— Jeffrey Pfeffer (@JeffreyPfeffer) March 20, 2015
...In the real world, outcome interdependence is common. If I choose a subordinate, select an advisor, or help pick a co-worker or teammate, my own outcomes depend on the skill and drive of the person selected. Absent that outcome interdependence, I am much more likely to evaluate others on their likeability, which is partly determined by how they conform to role expectations, including gender role expectations.
A Stanford doctoral student, Peter Belmi, and I have a manuscript in preparation summarizing three studies showing this effect: outcome dependence changes how people weigh competence versus likeability when evaluating others. Likeability is more important when study participants’ outcomes don’t depend on the other person, and competence becomes comparatively more important when they do...
"When Better Is Worse: Envy and the Use of Deception" with Simone Moran, School of Management, Ben Gurion University
Many of society's biggest policy challenges — protecting the environment, providing healthcare, education, and safety, encouraging participation in the democratic process — are social dilemmas. These challenges require individuals to bear personal costs in order to benefit others, a behavior that is typically defined as ‘cooperation’ ...
www3.imperial.ac.uk - "Tech entrepreneur ‘brain-drain’ to US is a source of concern, say researchers"
Europe is undergoing a significant technology entrepreneur brain-drain to the United States because it is not doing enough to retain information and communication technology (ICT) start-up companies.
A report by researchers from Imperial College Business School, initiated by the EIT ICT Labs and published today, found that ICT is a major economic driver for Europe. Between 2005 and 2010, investment in the sector accounted for one-third of all economic growth in the region, while ICT innovations bring positive, knock-on benefits for other industries.
The report – ‘ICT innovation in Europe: Productivity gains, start-up growth and retention’ – found that European countries are leading the way in nurturing talent, but do hardly enough to retain it. In fact, 43 percent of successful EU start-ups end up being acquired by US companies.
A study prepared by P. KOUTROUMPIS(1), A. LEIPONEN(2 ) and L.D.W. THOMAS(3)
We acknowledge financial support from the EIT ICT Labs. We also wish to thank Achim Luhn for guidance and support and Kumush Abduraimova for research assistance.
(1) Imperial College Business School, (2)Cornell University and Imperial College Business School, (3)Imperial College Business School
Tech entrepreneur brain-drain to US is a source of concern http://t.co/sUZKqfzxGj— Aija Leiponen (@AijaLeiponen) March 12, 2015
Imperial College & EIT ICT Labs report on the impact of ICT on European economy: http://t.co/rIhVRjzUf5— Aija Leiponen (@AijaLeiponen) March 12, 2015
February 16, 2015
This is the fourth of six questions from a roundtable discussion with the directors of sustainability research centers at six top business schools.
In this complimentary series you’ll discover:
In this paper we study the public debate over net neutrality in the United States from January through November 2014. We compiled, mapped, and analyzed over 16,000 stories published on net neutrality, augmented by data from Twitter, bit.ly, and Google Trends. Using a mixed-methods approach that combines link analysis with qualitative content analysis, we describe the evolution of the debate over time and assess the role, reach, and influence of different media sources and advocacy groups in setting the agenda, framing the debate, and mobilizing collective action. We conclude that a diverse set of actors working in conjunction through the networked public sphere played a central, arguably decisive, role in turning around the Federal Communications Commission policy on net neutrality.
Whatever happened to teaching students to analyse the complex social systems in which they will live and work?
The latest research from Prof. Bruce Kogut: Economists Aren't As Nonpartisan As We Think http://t.co/18eKu1GaaO— Bernstein Center@CBS (@bernsteincenter) December 8, 2014
Dec 8, 2014
According to purists, the field of economics is supposed to be free of political ideology. Economics views itself as a science1 and the prevailing consensus, best articulated by Nobel-winner and Chicago-school doyen George Stigler, is that “the dominant inﬂuence” in economics “is the set of internal values and pressures of the discipline” which help keep it nonpartisan.
With this knowledge about actual ideology in hand, we built an algorithm that discovered the relationships between political leanings and word choice in about 18,000 academic papers written by our sample of economists.
We first found that an economist’s research area is correlated with his or her political leanings. For example, macroeconomists and financial economists are more right-leaning on average while labor economists tend to be left-leaning. Economists at business schools, no matter their specialty, lean conservative. Apparently, there is “political sorting” in the academic labor market.
To conduct the research, Soule, along with Stanford GSB student Jacob Model and Brayden G. King, an associate professor at the Kellogg School of Management at Northwestern University, tracked outcomes of more than 750 shareholder resolutions related to environmental causes. In a second study, she and King worked with Mary-Hunter (Mae) McDonnell, an assistant professor at the McDonough School of Business at Georgetown University, to examine interactions between corporate activists and 300 corporations.
Sarah Soule is the Morgridge Professor of Organizational Behavior at Stanford GSB and the Hank McKinnell-Pfizer Inc. Faculty Fellow for 2014-15.
How can nations, cities and companies grow their economies, while reducing the risk of dangerous climate change?
Or, What I’ve Learned in 12 Years Writing about Energy (7000 words...)
The Centre on Innovation and Energy Demand (CIED) develops socio-technical understandings of the emergence, diffusion and impact of low energy innovations. Sussex Energy Group
"For RE diffusion to increase, gvmt action should be directed not only @ shielding renewables from competition w/ fossil fuel tech" Masini— HEC Paris Knowledge (@HECKnowledge) January 8, 2015
And, unfortunately, that’s the good news.
If nations want even a 50 percent chance of avoiding dangerous global warming, they’ll need to keep more than 80 percent of current coal reserves in the ground. And in the United States, more than 90 percent of coal reserves would need to stay buried, according to a new study from University College London.
...In this new paper, published Wednesday by the journal Nature, researchers tighten the focus of this global carbon budget by breaking the global numbers into regional ones...
...In the Middle East, producers would have to forego 38 percent of their oil and 61 percent of their gas. China and India would close off 66 percent of their coal. Former Soviet states would keep 94 percent of their coal underground...
And, unfortunately, that’s the good news.
...The above estimates assume that power plants and industry will be able to capture and hide much of their carbon dioxide beginning in 2025. Without that rosy assumption, idled coal reserves jump to 95 percent in the U.S., 77 percent in China and India, and 97 percent in the former U.S.S.R. And these numbers may be the safer bet
“Spending time with the people you love doing the things you love is the best road to happiness." http://t.co/Hde4Thu8cY— Stanford Business (@StanfordBiz) January 1, 2015
Faculty participating in X-Culture, a global virtual team project started by Vasyl Taras at the University of North Carolina at Greensboro (see “Grassroots Innovation” on page 33), are currently working on a study on the effect of “free-riders” who don’t pull their own weight on virtual teams. Although free-riding can be a problem on any team, it can be especially prevalent when team members have never met each other and have no sense of social obligation or reciprocity to each other.
A global team’s performance can plummet if just one of its members shirks his or her responsibilities, says Taras. “It’s all about the perception of injustice,” he says. “If one person on a ten-member team doesn’t do his share of the work, logic says that the team’s performance should decrease by ten percent. But our data show that when one student on a team doesn’t participate, it leads to a disproportionately large loss in performance. If two stop participating, everyone stops working because they think, ‘Why should I work if those two aren’t working and we’re all getting the same grade?’”
Using data collected from X-Culture projects, faculty already have reduced nonparticipation among X-Culture students dramatically, from 30 percent to about 3.5 percent. By employing the following strategies, Taras believes other professors can achieve the same success:
Require weekly peer evaluations. When students can evaluate their team members, “it works like magic, because students can restore a sense of justice on the team if someone isn’t doing his share of the work,” says Taras.
Give the power to exclude. Students can vote on whether a free-rider can stay on the team. The possibility of being voted off the team gives everyone an incentive to contribute, says Taras.
Cultivate cultural intelligence. After testing how factors such as team size, cultural diversity, or age affect the level of free-riding, X-Culture faculty have found that cultural intelligence plays the biggest role. Students who are culturally intelligent—who respect and can listen effectively to a diverse range of people—are much less likely to shirk their duties.
That’s why many X-Culture faculty devote up to a week in their course schedules to activities that allow students to learn about their teammates’ interests, families, and other personal information. “When people know each other, they have a sense of social obligation, which increases how much they respect each other and how much they’ll commit to accomplishing a common goal,” says Taras. “That extra time might seem unrelated to the project, but it makes a huge difference in the project’s outcome.”
December 17, 2014
After years of stress, in-fighting, anxiety and admin, the day has almost arrived: on 18 December, the results of the latest university research audit will be released.
The research excellence framework (REF), an exercise that assesses the quality of academic research, is a huge deal for universities and academics.
The results determine how much research funding they are granted – there’s £2bn a year up for grabs – and they’re used to determine institutions’ rankings in league tables. A poor performance can close a department, while a top rating means steady funding.
154 UK universities took part in the REF, with special panels reviewing a total of 190,000 research submissions by 52,000 academic staff.
Every six years, institutions are asked to submit examples of their best research to be assessed by a team of academics and industry experts. Each subject area is awarded up to four stars...
Dr Dennis Lendrem, of the University of Newcastle, said: "Idiotic risks are defined as senseless risks, where the apparent payoff is negligible or non existent, and the outcome is often extremely negative and often final".
December 8, 2014
As work organizations become increasingly gender diverse, existing theoretical models have failed to explain why such diversity can have a negative impact on idea generation. Using evidence from two group experiments, this paper tests theory on the effects of imposing a political correctness (PC) norm, one that sets clear expectations for how men and women should interact, on reducing interaction uncertainty and boosting creativity in mixed-sex groups. Our research shows that men and women both experience uncertainty when asked to generate ideas as members of a mixed-sex work group: men because they may fear offending the women in the group and women because they may fear having their ideas devalued or rejected. most group creativity research begins with the assumption that creativity is unleashed by removing normative constraints, but our results show that the PC norm promotes rather than suppresses the free expression of ideas by reducing the uncertainty experienced by both sexes in mixed-sex work groups and signaling that the group is predictable enough to risk sharing more—and more-novel—ideas. Our results demonstrate that the PC norm, which is often maligned as a threat to free speech, may play an important role in promoting gender parity at work by allowing demographically heterogeneous work groups to more freely exchange creative ideas.
ECB could fix euro zone flaw with risk-free bond (think tank)
Study cited in this article (PDF 70 pages)
"The High-Frequency Trading arms Race: Frequent Batch Auctions as a Market Design Response", by Eric Budish, Peter Cramton and John Shim, December 2013
High-frequency trading might reduce liquidity, not boost it as its defenders claim http://t.co/9OafPh0kbL— The Economist (@EconBizFin) December 5, 2014
Generally considered a negative trait, entitlement, in small doses, can actually have the positive effect of boosting creativity, according to a new study to be published in the Journal of Experimental Social Psychology.
Various studies have found that those who feel entitled are less likely to help others or apologize and are more likely to want special privileges, break rules, treat their romantic partners selfishly and make unethical decisions.
Lynne Vincent, post-doctoral research fellow at the Vanderbilt Owen Graduate School of Management / (Vanderbilt)
However, in a new study, entitlement was examined for a positive consequence, and researchers found that stirring entitlement in people stimulates their creativity. The condition was prompted by a short exercise where subjects were encouraged to write sentences about why they deserved various positive outcomes.
“Our results suggest that people who feel more entitled value being different from others, and the greater their need for uniqueness, the more they break convention, think divergently and give creative responses,” say Lynne C. Vincent, a post-doctoral research fellow at the Vanderbilt Owen Graduate School of Management, and Emily Zitek, assistant professor of psychology at Cornell University’s School of Industrial and Labor Relations.
In four studies documented in the article “Deserve and Diverge: Feeling Entitled Makes People More Creative,” subjects given a boost in feelings of entitlement did significantly better in creativity tests...
EU migrants in UK pay £20bn more in taxes than they receive
New CReAM research shows that European immigrants to the UK have paid more in taxes than they received in benefits http://t.co/hVkcbf5KmC— CReAM (@CReAM_Research) November 5, 2014
We collaborated across social sciences, over continents, for years. At 3:00, @PNASNews publishes our findings: Diversity Deflates Bubbles— Dr. Sheen S. Levine (@sslevine) November 17, 2014
...The economists estimated elevated levels of pollution (defined as an additional 10 PM2.5 units of exposure) lowered test scores by 0.23 percent. That might mean 2 percent lower wages a decade later...
The American way is more arbitrary, and so it seems less meritocratic. But a new paper by Israeli economists Victor Lavy, Avraham Ebenstein, and Sefi Roth finds high-stakes testing, like the American system, also favors the rich. The authors looked at the Israeli admissions system, where the Bagrut exam determines university admissions. They took the test scores of 55,873 students at 712 schools from 2000 to 2002, and the students’ earnings 10 years later. They then compared test scores and future wages with the level of ambient air pollution on the test days. Ambient pollution is associated with impaired cognitive performance, especially for asthmatics.
Via EPSRC: Clark announces £17million for industry PhD collaborations: Companies and universities across the U... http://t.co/g1iimNK9p3— Research Councils UK (@research_uk) November 5, 2014
Via NERC: Updating ESFRI Roadmap of Research Infrastructure: ESFRI (the European Strategy Forum for Research I... http://t.co/ocn8hsSAvR— Research Councils UK (@research_uk) November 5, 2014
Via AHRC: Call to tender - studies on economic impact of research: The AHRC is looking to update and develop t... http://t.co/8xSCuMzUcT— Research Councils UK (@research_uk) October 16, 2014
Taking an unfashionable standpoint in the light of rising anti-European sentiment in Britain and some other countries, Kurt Deketelaere, secretary general of the League of European Research Universities, told a conference that EU-wide legislation may be required to enable the truly free movement of students and researchers.
Speaking at the Reinventing Higher Education conference at IE University in Madrid last week, Deketelaere warned that “we are not going to survive” if Europe continues with 28 separate sets of research systems and funding arrangements...
10 Buscadores académicos que quizás no conocías. Bitelia. http://t.co/7CfGXPMl5k— JM Alvarez-Pallete (@jmalvpal) October 29, 2014
Academy of Management Learning & Education. June 2014, Vol. 13 Issue 2, p154-170. 17p. 1 Diagram, 2 Charts.
This study explores how positive (PRMs) and negative role models (NRMs) of business affect students' attitudes, expectations, and behavioural intentions relating to their future business behaviour. A thematic analysis of student reflections (N = 96) based on their experience of material presented in their Business Ethics/Corporate Social Responsibility modules, interpreted through the framework of Ajzen's Theory of Planned Behaviour, revealed that while NRMs led to intentions to avoid unethical behaviour and engage in ethical practices such as ethical purchasing, they also increased cynicism and undermined students' self-efficacy in the ethical business domain. Exposure to PRMs offset the negative consequences arising from NRMs, protecting against reduced self-efficacy by showing that unethical behaviour is neither necessary nor inevitable in business, thus undermining the common justification for unethical behaviour that 'everybody does it'. PRMs increased awareness that business can be both ethical and profitable and provided inspirational role models which led to increased intentions to engage in ethical business practices. With reference to social psychological literature, these results suggest that PRMs are necessary to counter the impression created by NRMs that ethical business is unachievable or unlikely as such beliefs can become self-fulfilling.
...Similarly, you can be a perfectly good criminologist without ever having stabbed someone, or even without doing any shoplifting on the side!...
It turns out that, back in 2009, the Fed had commissioned Columbia Business School Professor and former banker David Beim to conduct a study to get to the bottom of the agency’s failure to regulate the banks and prevent the financial collapse of 2008.
What did Beim discover? Were the economics too sophisticated to understand? The markets too complicated? No.
As it turns out, the regulatory failure was in fact due to a lack of psychological safety that would have allowed Fed employees to share their observations and concerns.
The Beim Report described a “cultural failure” – a pervasive fear of speaking up, of contradicting bosses, and an excessive deference on the part of the regulators (at all organizational levels) to the bankers.
Previously on DeansTalk. http://hbr.org/2008/03/is-yours-a-learning-organization/ar/1
Building Block 1: A supportive learning environment.
An environment that supports learning has four distinguishing characteristics.
To learn, employees cannot fear being belittled or marginalized when they disagree with peers or authority figures, ask naive questions, own up to mistakes, or present a minority viewpoint. Instead, they must be comfortable expressing their thoughts about the work at hand.
"Mary Robinson: Why Europe needs to set the pace on climate change", Irish Times, October 20, 2014
Opinion: The importance of acting now cannot be overstated: every euro spent on fossil fuels today condemns parts of the world to hurricanes, drought and infectious diseases
The meeting of the European Council – the gathering of the EU member states – in Brussels on Thursday and Friday will lead to a decision that will have far-reaching consequences. The summit is expected to see the adoption of a new framework for Europe’s climate and energy policy, including a set of targets for 2030 to cut our greenhouse gas emissions, boost renewable energy use and reduce overall energy use. These pledges matter, for Europe and the international community.
Mary Robinson, former president of Ireland, is the United Nations secretary-general’s special envoy on climate change and a member of the European Climate Foundation’s advisory board
"The future is green for business schools", FT Soapbox, October 5, 2014
Business education needs to be more integrated, more interdisciplinary and more oriented towards thinking about the bigger “system-level” picture. A second order level of thinking is required. Moving beyond the direct relationship between action and value, business schools must offer education that addresses the complex systemic challenges we are all facing.
New organisational forms have evolved in Europe. My own organisation, Climate-KIC, is Europe’s largest public-private partnership with more than 230 partners drawn from prestigious universities, research institutions, blue-chips and SMEs. The EU created the KICs to address the innovation challenge of Europe and make existing models obsolete. These organisations are creating new knowledge and will be a stimulus for business schools to evolve and change.
HOW DOES PEER PRESSURE AFFECT EDUCATIONAL INVESTMENTS?
Leonardo Bursztyn Anderson School of Management, UCLA and NBER Robert Jensen Wharton School, University of Pennsylvania and NBER
Brevan Howard financial research centre launches at Imperial, 23 September 2014
A new research hub set to help understand and prevent financial crises, was launched by the UK Chancellor, the Rt Hon George Osborne MP, at Imperial.
The Brevan Howard Centre for Financial Analysis at Imperial College Business School is funded by one of the largest gifts in business education history: £20.1 million from hedge fund Brevan Howard on behalf of its co-founder and Imperial alumnus Alan Howard (MEng Chemical Engineering & Chemical Technology 1986).
The Centre is led by two of the world’s most respected economists: Professor Franklin Allen, formerly of the Wharton School at the University of Pennsylvania, and Professor Douglas Gale, who came to Imperial from NYU...
With Chancellor George Osborne before launch of Brevan Howard Centre for financial analysis at Imperial pic.twitter.com/8rVoEiJzAD— Gerry George (@profgerrygeorge) September 23, 2014
Associate Professor of #Innovation & #Entrepreneurship at @UniSouthDenmark - PhD from @EPFL - Top Professor on #Twitter http://bit.ly/16xgcPC - #OpenInnovation
Erasmus Impact Study confirms EU student exchange scheme boosts employability and job mobility http://t.co/Od3FBVmoXp— Marcel Bogers (@bogers) September 22, 2014
Erasmus Impact Study confirms EU student exchange scheme boosts employability and job mobility
Young people who study or train abroad not only gain knowledge in specific disciplines, but also strengthen key transversal skills which are highly valued by employers. A new study (PDF, 229 pages) on the impact of the European Union's Erasmus student exchange programme shows that graduates with international experience fare much better on the job market. They are half as likely to experience long-term unemployment compared with those who have not studied or trained abroad and, five years after graduation, their unemployment rate is 23% lower. The study, compiled by independent experts, is the largest of its kind and received feedback from nearly 80 000 respondents including students and businesses.
Opening: The communication challenge
Addresing the global agenda
The climate challenge
Hey cool. The speaker before opening panel is the most powerful woman in Spain- the Deputy Prime Minister. "I am... http://t.co/YKfb5AsJYx— Peggy Liu (@shanghaipeggy) September 21, 2014
Peggy Liu, Chairperson of JUCCCE, is internationally recognized for her expertise on China‘s sustainability landscape and for fostering international collaboration with this Asian country. JUCCCE is a non-profit organization dedicated to accelerating the greening of China, because a green China is the key to a healthy world. JUCCCE is a leader in creating systemic change in sustainable cities, sustainable consumerism and smart grid, and most noted for its multi-sector convening power.
She is also an executive advisor to Marks & Spencer, as well as an advisor to the World Economic Forum Project Board on Sustainable Consumption, and Volans. She is a member of the FTSE Environmental Markets Committee, and a Thought Leader at Criticaleye. She served as a sustainability advisor to HP in 2013, a member of the World Economic Forum’s Global Agenda Councils on Sustainable Consumption 2012-13 and on New Energy Architecture 2011-12, and an energy adviser to the Clinton Global Initiative in 2008.
This course focuses on the concepts and tools behind reporting modern data analyses in a reproducible manner. Reproducible research is the idea that data analyses, and more generally, scientific claims, are published with their data and software code so that others may verify the findings and build upon them. The need for reproducibility is increasing dramatically as data analyses become more complex, involving larger datasets and more sophisticated computations. Reproducibility allows for people to focus on the actual content of a data analysis, rather than on superficial details reported in a written summary. In addition, reproducibility makes an analysis more useful to others because the data and code that actually conducted the analysis are available. This course will focus on literate statistical analysis tools which allow one to publish data analyses in a single document that allows others to easily execute the same analysis to obtain the same results.
My new book (with T Saebi), Business Model Innovation: The Organizational Dimension now available for pre-ordering: http://t.co/Z4p1SL1cke— Nicolai Foss (@NicolaiFoss) September 3, 2014
Business Model Evolution, Adaptation or Innovation? A Contingency Framework on Business Model Dynamics, Environmental Change and Dynamic Capabilities, Tina Saebi, Norwegian School of Economics (NHH) - Department of Strategy and Management, March 1, 2014, papers.ssrn.com
Lars Jacob Pedersen is Associate Professor at the Norwegian School of Economics: