Risk Factors That Matter: Textual Analysis of Risk Disclosures for the Cross-Section of Returns

Working Papers

What are the fundamental risks in the economy? Which risks are systematic? Which risks are priced? Are the risks summarized well by existing models? I use machine learning to identify the risks that firms face based on their annual reports. Read More

Data Analytics Supports Decentralized Innovation

Published Research

Data-analytics technology can accelerate the innovation process by enabling existing knowledge to be identified, accessed, combined, and deployed to address new problem domains.Read More

Talent Poaching for Innovation

Funded Research Proposal

We will examine the cost of inventor mobility from a talent poaching perspective. It is either prohibitively costly or impossible to contract over all states of the world (Grossman and Hart, 1986; Tirole, 1999).Read More

In the Shadow of the Valley: Private Equity Firms’ Increased Prominence in High-Tech Acquisitions

Funded Research Proposal

Why and how do private equity (PE) firms engage in technology acquisitions, and how do they create and capture value in these transactions? Observational data shows initial evidence that not only are PE firms engaging in an increasing number of technology buyouts, they are also seemingly behaving in distinct ways from both corporate acquirers, as well as PE firms in industries other than high-tech.Read More

What is the Importance of Pivoting for Firm Growth?

Funded Research Proposal

Does pivoting matter? How does it affect investment in innovation and firm performance? My goal is to analyze the relevance of pivoting for the development of a small firm into a mature one and to provide a better understanding of what constitutes a small firm.Read More

Leapfrogging for Last-Mile Delivery in Health Care

Funded Research Proposal

Lowering the cost and increasing the speed of last mile delivery are major challenges for the distribution channels of most industries. These challenges are even more severe in developing countries, where a large part of the population is located in rural areas, and where the lack of physical infrastructure results in a sizable part of the population residing in isolated areas, compromising their access to important services for their investment in human capital, such as timely health care.Read More

Privacy and Innovation: The Short-run Effects of GDPR on Consumer Engagement

Funded Research Proposal

In today’s connected world, individuals are no longer mere consumers of goods, information and services, but public producers of often valuable data. In fact, personal data is becoming such a core input that The Economist called it “the world’s most valuable resource” ahead of oil.Read More

Corporate Venture Capital and Entrepreneurial Product Development

Funded Research Proposal

Increasingly, corporations are investing in entrepreneurial firms. This trend has not been overlooked by researchers in the management literature, but the majority of research studying the effects of corporate venture capital (CVC) overwhelmingly takes the perspective of the organization with the venture capital operation. Read More

The Influence of Private Equity Experience on Corporate Transactions

Funded Research Proposal

This project considers whether CEOs and other top managers whose professional backgrounds are in private equity undertake different and/or more successful acquisitions and divestitures than CEOs and other top managers who do not have professional backgrounds in private equity.Read More

Race to E-Commerce: The Role of Firm Owners in Technology Adoption

Funded Research Proposal

This study aims to understand how firm ownership and governance influence the adoption of disruptive technologies in the early stages of the technology cycle. There is a growing recognition that owners have different goals and motivations that in turn, shape the strategic direction of the firms they control.Read More

Generic Competition and Strategic Delegation: An Empirical Study in Drug Patent Licensing

Funded Research Proposal

We plan to study the role of strategic delegation in the patent licensing process. In particular, we will examine the contractual terms of a large database of pharmaceutical drug license arrangements (royalty rates, contingencies, royalty bases, etc…), as well as which contractual terms were redacted versus non-redacted.Read More

The Added Value of Analytics and Impact of Exposure to Business Benchmarks

Funded Research Proposal

What is the impact of deploying an analytics solution on firm output? How is this impact generated by the firm? We use data from over 1,000 firms to estimate the causal impact of analytics and benchmarking on firm performance.Read More

Climate Change, Risk and Firms’ Innovation in Green Technology: Threat or Opportunity?

Funded Research Proposal

Public policies that aim at reducing global warming expose firms to legal risks, especially firms that have high carbon dioxide (C02) emissions. How do firms handle this legal risk, both before and after its realization?Read More

Gender Differences in Founder’s HR Strategy and What Works When? Evidence from New Ventures in Innovation Industries

Funded Research Proposal

This project examines gender differences in founder’s human resource (HR) strategy and how such differences impact business outcomes, focusing on nascent ventures in high-tech innovative industries.Read More

The Impact of Economic and Behavioral Drivers on Gig Economy Workers

Funded Research Proposal

In today’s ever-expanding “gig economy”, independent workers can freely choose when to work as well as seamlessly switch between multiple platforms that offer different incentives. Once a small minority of low-skilled workers with relatively low income, the gig economy now attracts high-skilled workers who are opting to join a flexible workforce. Read More

Role of Star Developers in Open Source Software Innovations

Funded Research Proposal

The idea that source code for computer software be accessible to anyone has gained increasing popularity among software developers, fueling the rapid growth of the open source software (OSS) movement. Platforms for OSS development currently host incredibly valuable projects like the Linux kernel, TensorFlow and various blockchain software projects.Read More

Technological Innovations for Last-Mile Delivery in Health Care

Funded Research Proposal

We propose to study the impact of technological innovations in last-mile delivery on health care access, cost, and quality. To this end, we will examine the introduction of drones to deliver blood and other medical supplies to isolated areas in Rwanda.Read More