Research, Media Impact, and Awards: Spring 2024

This sampling of recent faculty activity at the Boston College Carroll School of Management includes papers published in leading peer-reviewed journals. Among them:听Academy of Management Journal, The Accounting Review, Journal of Accounting and Economics, The Journal of Finance, Journal of Financial Economics, Journal of Political Economy, Marketing Science, MIS Quarterly, and others. Also included in this roundup are recent media spotlights on Carroll School faculty research as well as awards and other distinctions.


Faculty Publications

Rui Albuqurque, Mary Ellen Carter 350x418 - 1

Rui Albuquerque, Mary Ellen Carter

Professor, Finance

Professor and Joseph L. Sweeney Chair, Accounting

The Accounting Review (Forthcoming)

鈥淗ow Large Is the Pay Premium From Executive Incentive Compensation?鈥

Coauthors:

Ana M. Albuquerque, Boston University

Qi (Flora) Dong, Kennesaw State University

鈥淲e estimate the pay premium associated with CEO incentive compensation. Using explicit detailed U.S. CEO compensation contract data and simulation analysis, we find that CEOs with riskier pay packages receive a premium for pay at risk that represents 13.5 percent of total pay. The premium is positively correlated with proxies for CEO risk aversion, but implied risk aversion values suggest that the premium is economically smaller than suggested by prior studies. We perform our tests using a variety of proxies to measure the variance of pay and find consistent evidence of economically small pay risk premiums. These results are consistent with recent findings suggesting that risk may have a more limited influence over the level of pay than previously thought.鈥

Vincent Bogousslavsky

Assistant Professor, Finance

Journal of Financial Markets

鈥淲ho Trades at the Close? Implications for Price Discovery and Liquidity鈥

Coauthor:

Dmitriy Muravyev, Michigan State University

鈥淐losing auctions set daily closing prices for U.S. stocks and account for a striking 7.5% of daily volume in 2018, up from 3.1% in 2010. We study closing auctions in the new regime of record volume. Closing auctions appear to match volumes at low cost: closing prices typically match pre-close bid or ask prices, and price impact is lower than during continuous trading. Auction price deviations revert quickly and almost completely, on average. Auction-to-intraday volume spikes on S&P 500 additions and increases permanently afterwards, suggesting that closing volume is fueled directly and indirectly by the growth of indexing and ETFs.鈥

Jeffrey Cohen

Professor, Accounting

Journal of Management Accounting Research

鈥淭he Influence of Controllability and Outcome Valence on Cost-Shifting鈥

Coauthors:

Dennis Fehrenbacher, University of St. Gallen

Axel Shulz, La Trobe University

Martin Weisner, University of Melbourne

鈥淚n a setting that considers both operational and accounting decentralization, we propose that controllability and outcome valence effects (i.e., positive versus negative contractual outcomes for managers) interact to affect managers鈥 misreporting behavior. Experimental results show that the level of cost-shifting under negative outcome valence is relatively invariant to the amount of control over a project鈥檚 results, whereas the decision to engage in cost-shifting under positive outcome valence is contingent upon whether the manager had control or not. We contribute to the management accounting literature on contract framing and misreporting and extend research on how decentralization choices affect managers鈥 use of private information, with direct implications for practice. Our results suggest that limiting individual managers鈥 operational control primarily to constrain misreporting may only be beneficial when contracts stipulate positive outcomes for managers.鈥

Nan Liu

Associate Professor and William S. McKiernan 鈥78 Family Faculty Fellow, Business Analytics

Manufacturing & Service Operations Management (Forthcoming)听

鈥淒esign of Patient Visit Itineraries in Tandem Systems鈥

Coauthors:

Guohua Wan, Shanghai Jiao Tong University

Shan Wang, Sun Yat-sen University

鈥淚n healthcare, such as at orthopedic clinics or infusion centers, managing multistage patient visits involves providing personalized visit itineraries with specific appointment times for each service stage. Traditional methods rely on simple adjustments to single-stage scheduling models. These methods are easy to implement, but can significantly hamper operational efficiency in multistage services. To address this, we introduce an innovative optimization modeling framework for prescribing personalized visit itineraries in multistage services. This framework effectively manages the interdependencies among stages, thereby improving patient satisfaction and provider utilization. A case study populated by data from the Dana-Farber Cancer Institute shows that our approach makes a remarkable 28% cost reduction compared to traditional practices. While developed with healthcare in mind, our model is applicable to any service sector with multistage processes, such as consulting and financial services.鈥

Alan Marcus

Mario J. Gabelli Endowed Professor, Finance

Journal of Banking and Finance

鈥淢utual Fund Pollution Experience and Environmental Voting鈥

Coauthors:

Pouyan Foroughi, York University

Vinh Nguyen, University of Hong Kong

"Examining the impact of local air pollution on mutual funds鈥 voting behavior, we study the possible relationship between mutual fund management鈥檚 direct experience with extreme environment events and the fund鈥檚 engagements with its portfolio companies on environmental issues. We find that higher air pollution in a fund鈥檚 home county increases its propensity to vote in support of shareholders鈥 environmental proposals. The effect is weakened by fund manager turnovers, and managers鈥 affiliation with the Republican Party. Conversely, the effect is stronger in more highly contested environmental proposals. Overall, our results suggest that mutual fund management鈥檚 direct experience with extreme environment events plays a crucial role in motivating the fund鈥檚 environmental engagements.鈥

Pilar Opazo

Assistant Professor of the Practice, Management & Organization

Book, Routledge Press

鈥淐ultural Flows in High-End Cuisine: From the Periphery to the Center鈥

Coauthors:

Christel Lane, University of Cambridge

鈥淭his book examines the flows of culinary knowledge and practitioners from hitherto culturally peripheral locations to two cities at the global center 鈥 London, and New York. It defines it as a process of reverse globalization, entailing global counter-flows. The book focuses on both chefs and cultural intermediaries as the agents of culinary change, as well as on the effects of such change on both the culinary fields of chefs鈥 host cities and countries of origin. Through the voices of chefs, and other industry insiders, this unprecedented focus on dining invites readers to rethink understandings of high-end and ethnic cuisines, as well as of the conventions and principles that shape the contemporary field of gastronomy and fine-dining.鈥

Bess Rouse

Associate Professor and Hillenbrand Family Faculty Fellow, Management & Organization

Academy of Management Journal

鈥淣avigating the Paradox of Promise Through the Construction of Meaningful Career Narratives鈥

Coauthors:

Gregory T. Fetzer, University of Liverpool

Spencer H. Harrison, INSEAD

鈥淲orking with a prominent mentor can offer many benefits to one鈥檚 career: mentors provide skills, resources, and values that leave a lasting imprint. Yet, these promising starting points also present a puzzle as people make sense of their careers further on: they must acknowledge their association with their prominent mentor, without being overshadowed by them. We refer to this tension as the paradox of promise. Through a qualitative study of former employees at the Eames Office, we examine how individuals navigate the paradox of promise as they construct retrospective career narratives. We find that individuals narrate their formative experience as imprints, but with two distinct emphases鈥攙alues-dominant imprints versus skills-dominant imprints. Individuals then narrate their later career experiences by reprinting, reinforcing the existing meaning or finding new meaning in relation to their imprint; we induced three reprinting practices: (a) embracing values, (b) contrasting values, and (c) supplanting values. Our study contributes to interpretive perspectives of career success and mentor relationships, and how meaningfulness is constructed over the career.鈥

Sandra Waddock

Professor, Management

Galligan Chair of Strategy and Carroll School Scholar of Corporate Responsibility

Book, Business Expert Press

鈥淐atalyzing Transformation: Making System Change Happen鈥

"Catalyzing Transformation describes innovative organizing processes that anyone can use to catalyze purposeful whole system transformational change. Catalyzing Transformation describes processes of connecting, cohering, and amplifying by transformation catalysts. Transformation catalysts鈥攚ho could be you or me鈥攚ork to organize purposeful and self-aware transformation systems capable of tackling a range of complex systemic challenges.鈥

Hanyi (Livia) Yi

Assistant Professor, Finance

Journal of Financial Economics

鈥淒eputizing Financial Institutions to Fight Elder Abuse鈥

Coauthors:

Bruce Carlin, Rice University

Tarik Umar, Rice University

鈥淧ermissive laws deputize financial professionals to screen for misbehavior without providing explicit incentives. These are very common in financial markets. To evaluate their effectiveness, we exploit the staggered adoption of the 2016 Model Act provisions intended to curb elder abuse. We find a drop in reports of abuse by financial professionals to the Department of Treasury and, separately, in financial crimes against the elderly as monitored by the FBI. The effect is stronger where the elderly are more isolated. Our results highlight the role financial professionals play in combating social problems and the impact of permissive policies.鈥

Pierluigi Balduzzi

Professor, Finance

Journal of Monetary Economics

鈥淐redit Constraints and Firms鈥 Decisions: Lessons from the COVID-19 Outbreak鈥

Coauthors:

Emanuele Brancati, Sapienza University

Marco Brianti, University of Alberta

Fabio Schiantarelli, Boston College

鈥淯sing novel survey data on Italian firms鈥 expectations, collected just before and after the beginning of the COVID-19 outbreak, we investigate the role of credit constraints in the transmission of adverse economic shocks. Our results show that credit-constrained firms plan to charge higher prices than unconstrained ones while expecting a larger fall in quantities. When we consider realized outcomes, however, these differences are less pronounced. This evidence is consistent with the credit programs implemented during the crisis being largely unanticipated at its outbreak and benefiting constrained firms relatively more.鈥

Curtis Chan

Assistant Professor, Management & Organization

Academy of Management Journal

鈥淏alancing Professional Autonomy and Managerial Goals Amid Broad Technology Adoption Pressures: Intraprofessional Segmentation at a Finnish School"

Coauthor:

Tomi Koljonen, University of Liverpool

鈥淢anagers often desire to see their organization adopt new technologies but depend on autonomous professionals to use such technologies in practice. In seeking technology adoption, organizations thus must find a middle ground between professional autonomy and managerial goals. Extant scholarship has examined such middle grounds but has focused on adoptions of specific technologies. However, amid broad technology adoption pressures鈥攅xpectations on organizations lacking precise prescriptions, success criteria, and sanctions鈥攏ovel middle-ground approaches might emerge. Our study contributes to scholarship on occupations and technology by showing how intraprofessional segmentation can help organizations align technology with professional work amid broad technology adoption pressures.鈥

Megan Hunter

Assistant Professor, Marketing

Marketing Science

鈥淢ultiattribute Search: Empirical Evidence and Information Design鈥

Coauthor:

Pedro Gardete, NOVA University Lisbon

鈥淲e investigate simple online search patterns that suggest that the dualistic view of fixed sample vs. sequential search modes is the likely result of coarse data combined with methodological convenience. In contrast with these paradigms, we find consumers are selective about the product attributes they inspect, they revisit items to acquire additional information, and often convert without collecting all available data about the selected alternatives. Our substantive motivation is the problem of providing information to consumers in a market with differentiated products. We propose a new model of gradual consumer search based on simulated beliefs and 鈥渋n tandem鈥 decision-tree and likelihood computation that allows us to characterize the full search problem in contexts with moderate numbers of alternatives. We find that the seller鈥檚 incentives to engage in search design activities tend to match the consumers鈥.鈥

Nadya Malenko

Professor, Finance

The Journal of Finance

鈥淭rading and Shareholder Democracy鈥

Coauthors:

Doron Levit, University of Washington

Ernst Maug, University of Mannheim

鈥淲e study shareholder voting in a model in which trading affects the composition of the shareholder base. Trading and voting are complementary, which gives rise to self-fulfilling expectations about proposal acceptance and multiple equilibria. Prices and shareholder welfare can move in opposite directions, so the former may be an invalid proxy for the latter. Relaxing trading frictions can reduce welfare because it allows extreme shareholders to gain more weight in voting. Delegating decision-making to the board can help overcome collective action problems at the voting stage. We also analyze the role of index investors and social concerns of听shareholders.鈥

Richard Nielsen

Professor, Management & Organization

Business and Professional Ethics Journal

鈥淭hrough An Aristotelian Lens, Potential Reforms of the Leveraged Buyout Business Model: Preserving Wealth Expansion and Reducing Wealth Transfers and Wealth Destruction鈥

Coauthor:

Elizabeth Hood, PhD candidate, Boston College

鈥淭he overall objectives of this article are to help the reader see and understand through Aristotelian lenses: (1) positive and negative aspects of the Leveraged Buyout (LBO) business model; and, (2) how LBO practices can be reformed so as to retain positives and reduce negatives. Aristotelian lenses considered are: wealth acquisition through wealth expansion, wealth creation, and wealth transfers; distributive and corrective justice; and, a dialectic analytic process of retaining positives, reducing negatives, and reforming. Key net positive wealth expansion aspects of the model are discussed with respect to: profitability for the owners, managers, and investors of LBO firms; potential productivity improvements on the cost and revenue sides; and, potentially greater credit availability. Negative wealth transfer and destruction aspects with respect to: a relatively high rate of bankruptcies in some countries and in economic downturns; LBO firm gains without responsibility for losses; wealth transfers from employees, creditors, ordinary vs 鈥渃arried interest鈥 taxpayers; and, damaged wealth expansion and creation capabilities of acquired organizations are discussed.鈥

Michael Pratt

O'Connor Family Professor, Management & Organization

Organization Science (Accepted)

鈥淎 Part of, or Apart from, Me?: Linking Dynamic Founder-Venture Identity Relationships to New Venture Strategy鈥

Coauthors:

Eliana Crosina, Babson College

Hila Lifshitz, University of Warwick

鈥淏ased on a three-year inductive field study of first-time founders, we reveal the dynamic identity relationships that tie founders to their ventures: what such relationships comprise, how they evolve over time, and with what strategic implications for the development of new businesses. Specifically, we found that such relationships comprise both identification and construals, which capture the degree to which founders saw their ventures as self-defining and founder-venture psychological distance. Construals, and shifts in construals over time, were critical in explaining how entrepreneurs handled venture-related challenges, as well as how they strategically (re)focused their ventures in terms of scope, whether by diversifying or specializing. By explaining these dynamics, we contribute to research on entrepreneurial identity as well as to construal level theory. In addition, as we distinguish construals from identification, we highlight the importance of construals for understanding identity relationships beyond entrepreneurship.鈥

Sebastian Steffen

Assistant Professor, Business Analytics

MIS Quarterly (Accepted)

鈥淗uman Capital Acquisition in Response to Data Breaches鈥

Coauthors:

Sarah Bana, Chapman University

Erik Brynjolfsson, Stanford University

Wang Jin, Massachusetts Institute of Technology

Xiupeng Wang, Boston University

鈥淎s data security threats become more frequent and costly, it is increasingly important to understand how firms strategically acquire human capital in response to data breaches. We analyze such threats by combining unique information on data breach events with detailed firm-level job posting data and show that breached firms significantly increase their demand for cybersecurity workers in the quarters following a breach. To differentiate the varied cybersecurity roles that firms seek, we use the widely-used Cybersecurity Workforce Framework of the National Initiative for Cybersecurity Education (NICE) and find that firms predominantly hire for managing and developing cybersecurity strategy, and for identifying, analyzing, and mitigating threats to IT systems. We further observe that firms respond to breaches by hiring not only cybersecurity workers but also public relations workers, with the latter occurring more quickly, suggesting that firms rely on these workers to manage trust and external communications. To improve the interpretation of a causal relationship between data breaches and increased investment in cybersecurity-related human capital, we conduct tests of parallel trend and falsification tests using non-cyber data breaches, propensity score matching, and staggered Difference-in-Difference methods for multiple treatment timing and heterogeneous treatment effects. Overall, we demonstrate the important role of human capital investments in firms鈥 post-breach incident responses.鈥

Milena Wittwer

Assistant Professor, Finance

Journal of Political Economy

鈥淐entralizing Over-The-Counter Markets?鈥

Coauthor:

Jason Allen, Bank of Canada

鈥淚n traditional over-the-counter markets, investors trade bilaterally through intermediaries. We assess whether and how to shift trades on a centralized platform with trade-level data on the Canadian government bond market. We document that intermediaries charge a markup when trading with investors and specify a model to quantify price and welfare effects from market centralization. We find that many investors would not use the platform, even if they could, because it is costly, competition for investors is low, and investors value relationships with intermediaries. Market centralization can even decrease welfare, unless competition is sufficiently strong.鈥

Benjamin Yost

Assistant Professor, Accounting

Journal of Accounting and Economics (Forthcoming)

鈥淟itigation Risk and Strategic M&A Valuations鈥

Coauthors:

Claudia Imperatore, Bocconi University

Gabriel P眉ndrich, University of Florida

Rodrigo S. Verdi, Massachusetts Institute of Technology

鈥淲e study the role of litigation risk in M&A valuations. Specifically, we hypothesize that litigation risk leads to strategic valuations in fairness opinions (FOs) obtained in M&A transactions. Employing a regulatory shock to merger litigation risk and focusing on the most common valuation techniques 鈥 peer firm comparables and DCF analysis 鈥 we find that target-sought FOs exhibit lower valuations when litigation risk is high. The effect is concentrated in deals with greater agency conflicts between target management and outside shareholders. Furthermore, downward-biased valuations reduce appraisal litigation but are also associated with lower premiums. In contrast to prior work suggesting that target-sought FOs are used to negotiate a higher takeover price, our findings imply that they are used, at least in part, to mitigate litigation risk and facilitate successful deal completion. Our findings are relevant to academics, practitioners, and regulators interested in M&A price formation, and highlight the role litigation plays therein.鈥

In the Works

Mary Ellen Carter, Lian Fen Lee 350x418 - 1

Mary Ellen Carter, Lian Fen Lee

Professor and Joseph L. Sweeney Chair, Accounting

Associate Professor, Accounting

Working Paper

鈥淩eal Effects of the Proposed SEC Climate Disclosure Rule鈥

Coauthor:

Enshuai Yu, PhD Candidate, Boston College

鈥淲e investigate the real effects of the SEC鈥檚 proposed climate disclosure rule. We hypothesize that the threat of requiring Scope 3 emissions disclosure increases affected firms鈥 preference for greater control over production and GHG emissions, which renders outsourcing to foreign countries less desirable. Using difference-in-differences analyses, we find evidence that treated firms reduce imports following the proposed rule, relative to control firms. The reduction in imports is concentrated in firms for which disclosing Scope 3 emissions may be costlier: with material Scope 3 emissions, not voluntarily disclosing GHG emissions, in industries with fewer supportive comments on mandating disclosure of Scope 3 emissions in the proposal, and in imports from more pollutive countries. The reduction in imports is also concentrated among firms with greater ability to reduce foreign outsourcing: with less reliance on imports of minerals, with higher excess production capacity, and without publicly stated GHG emissions reduction targets. Finally, there is some evidence that, following the SEC鈥檚 proposed rule, affected firms increase in-house production and improve their environmental efforts. Collectively, our findings suggest that the SEC鈥檚 proposed climate disclosure rule induces real changes in corporate decisions.鈥

Alicia Munnell

Peter F. Drucker Chair of Management Sciences

Director of the Center for Retirement Research

Working Paper听

鈥淗ow Will Employer Health Insurance Affect Wages and Social Security Finances?鈥

Coauthors:

Anqi Chen,听Center for Retirement Research at Boston College

Diana Horvath,听Center for Retirement Research at Boston College

鈥淭he rising cost of employer contributions to employee-sponsored health insurance (ESHI) can slow wage growth and erode the Social Security wage base. Both these effects were evident in the decades before 2005, as ESHI increased as a share of compensation. Fortunately, the ratio of ESHI contributions to compensation plateaued after 2005, stabilizing wages and halting the erosion of the share of labor compensation subject to Social Security鈥檚 taxable base. The question is whether the stabilization of employer contributions as a share of compensation is temporary or permanent. The analysis used the听Medical Expenditure Panel Survey听(MEPS) to determine why ESHI contributions rose as a share of compensation prior to 2005 and why this ratio stabilized in recent years. These findings, combined with some speculation about the impact of the Affordable Care Act (ACA) and the COVID pandemic, are used to project the ratio of ESHI to compensation over the next decade.鈥

Cheng (Jason) Jiang

Assistant Professor of the Practice, Finance

Working Paper听

鈥淗ow Technology Investment Drives Community Bank Consolidation鈥

Coauthors:

Jonathan Scott, Temple University

Zhaowei Zhang,听Temple University

鈥淔rom 2011 to 2019, the number of bank charters fell by nearly one-third, from 7,357 to 5,177, with community banks accounting for three-quarters of this decline. In a new paper, we present compelling evidence that the decline stems largely from bank mergers driven in part by a desire to create economies of scale through technology investments. The need for technology investment has been propelled by regulatory requirements, consumer preference for digital services, and the pursuit of operational efficiencies, such as streamlined loan processing.鈥

Benjamin Yost

Assistant Professor, Accounting

Working Paper

鈥淔irm Visibility and Acquisition Likelihood: Evidence from Seeking Alpha Coverage鈥

Coauthors:

Pu Gu, PhD candidate, Boston College

Yuan Zou, Harvard University

鈥淭his study investigates whether social media coverage influences a firm鈥檚 likelihood of being acquired. Specifically, we hypothesize that coverage of a firm on the Seeking Alpha platform raises its visibility to potential acquirers and M&A advisers (i.e., investment banks), increasing the likelihood of becoming a target. Employing a novel setting in which Seeking Alpha contributors were incentivized to write articles about small firms, which historically had received relatively little coverage, we find evidence consistent with our prediction. Moreover, the increased coverage leads to deals between acquirers and targets that are 1) more geographically distant from each other, and 2) less likely to be in the same industry, consistent with a firm visibility channel. We validate our inference by showing such coverage leads to increased financial statement downloads by potential acquirers and investment banks. Overall, our findings point to social media serving an important role in elevating firms鈥 market visibility and enhancing managers鈥 awareness of potential investment opportunities.鈥

In the News

Mary Ellen Carter

Mary Ellen Carter, the Joseph L. Sweeney Chair and professor of accounting,听was quoted in a听听article about Elon Musk's $56 billion all-stock pay package at Tesla, explaining how the valuation "blows up into crazy, ridiculous amounts." Meanwhile,听听quoted Carter in a piece about how Boeing's safety issues are prompting investors to scrutinize their CEO's $33 million package.听She also commented for听听about the Reddit CEO's 鈥渟trange鈥 performance metrics following the company鈥檚 recent IPO. In addition, Carter听 that informed Boston Mayor Michelle Wu about the potential impact of tax incentives on jumpstarting construction of stalled housing projects. The report indicated that tax abatement would not be enough for developers to unfreeze construction, according to听.听听


Working dads who take paternity leave are seeing a rise in workplace microaggressions from management and are worried that prioritizing parenthood will hurt their careers. Brad Harrington, director of the Boston College Center for Work and Family, told and that embracing more equitable benefits like parental leave is a win-win for employers and families alike.


Nadya-Malenko_350x418 - 1

The ownership structure of startup companies is attractive to entrepreneurs for its flexibility and creative freedom, but research by Nadya Malenko suggests leadership board dynamics change once venture capitalists enter the picture. In , the finance professor explains that independent directors added to leadership teams play a critical role in navigating these shifting roles and mitigating conflict.


Sam Ransbotham weighed in on the best practices and future of AI technologies in an article for . A professor of business analytics, he also discussed the stigmas of using emerging technologies like self-driving cars in an article for and highlighted the key takeaways from the eight seasons of his podcast, Me, Myself and AI, in an .


Sebastian-Steffen_350x418 - 1

In an , Sebastian Steffan and colleagues offer some good news for fans of working from home. According to their research, firms that are flexible with remote work may perform better than those that reject it, especially as extreme weather becomes an increasingly prevalent roadblock to in-person work. Steffan is an assistant professor of business analytics.


Thinking of calling your workers heroes? Research by Curtis Chan, assistant professor of management and organization, suggests doing so could cause employee backlash. In an , Chan and collaborators warn that the high praise may have unintended consequences, with employees viewing the accolades as disingenuous.


Samuel Hartzmark

Cash dividends are attractive to shareholders, but they can sometimes prove to be a worse outcome than no payout at all. Research by two finance professors, Samuel Hartzmark (a Hillenbrand Family Faculty Fellow) and David Solomon (the Giuriceo Family Faculty Fellow), was cited in , and suggests some investors do not fully understand the trade-off between dividends and capital gains. Hartzmark was also featured on a recent episode of the as well as in articles for and , where he weighed in on issues surrounding ESG.


Featured in , , , ,听, and other outlets, Alicia Munnell, the Peter F. Drucker Chair of Management Sciences and director of the Center for Retirement Research, has contributed to the discourse surrounding topics like Social Security benefits and 401(k) retirement plans. A special report she coauthored about ending 401(k) tax benefits and using the revenue to repair Social Security was also highlighted in .听Munnell and her colleagues at the center have also produced multiple recent , on matters such as the future of older employees in the workplace and the National Retirement Risk Index.


Benjamin Rogers 350 x 418 - 1

Benjamin Rogers听and colleagues say that viewing your life as a 鈥淗ero鈥檚 Journey鈥 could add meaning to it.听The assistant professor of management and organization has been researching the effect that stories have on our lives and catching the attention of publications including听, , and .


Rising temperatures could have an impact on how firms locate their employees, says听Tuomas Tomunen, an assistant professor of finance,听in an article for . Relocating to a more hospitable climate may be a way for firms to alleviate the effects of climate change on productivity and workplace risks, but it is not always attainable for companies with limited resources.


John Gallaugher 350 x 418 - 1

John Gallaugher told that Uber鈥檚 shutdown of alcohol delivery app Drizly was 鈥渉eartbreaking.鈥 Gallaugher, an associate professor of business analytics, was a mentor to the two Boston College students who started Drizly prior to its $1 billion acquisition by Uber in 2021.


For 30 years, research by Eugene Fama and Kenneth French has been widely used in the finance world to inform decisions and research about stock market returns. In an article for , visiting assistant professor of finance Mathias Hasler explains the research from his in Critical Finance Review, in which he examines alternative decisions about the original data from Fama and French to estimate how the value premium differs.


Michael Pratt

Michael Pratt, the O鈥機onnor Family Professor of management and organization, was featured on an episode of Eudaimonic by Design鈥檚 podcast, . Pratt discussed his decades of research revolving around how individuals find meaning in work and how organizations can facilitate deeper meaning among employees.听


Bloomberg听ran an interview with Seidner University Professor Paul Romer in which he warned that overconfidence听in AI could lead to听. Romer also听听in a conversation with Carroll School Business Analytics Professor听Sam Ransbotham that aired on Ransbotham's听podcast,听Me, Myself, and AI, presented by the听MIT Sloan Management Review. A Nobel Prize winner in economics, Romer teaches in the Finance Department at the Carroll School, where he also directs the Center for the Economics of Ideas.


Nancy Xu 350 x 418 - 1

Nancy Xu, an assistant professor of finance, was featured on an episode of the Centre for Economic Policy Research鈥檚 podcast, , to talk about on Initial Jobless Claims, the weekly data released by the US Department of Labor about claims filed for unemployment benefits. Xu and colleagues found that during the pandemic, when negative fiscal news was reported more often by the media, investors expected more government support and drove up aggregate stock prices.听

Awards, Appointments, and Distinctions

Jeffrey Cohen, a professor of accounting, received the Notable Contributions to Audit Literature Award from the . Cohen and colleagues won the award for their paper which was published in Contemporary Accounting Research.听


drew hession-kunz 300x300 - 1

OnRamp to Finance, a textbook written by Drew Hession-Kunz, was published by McGraw Hill.听Hession-Kunz, a senior lecturer of finance, says the book gives students without a finance background access to the complex subject.


The Academy of Management Discoveries听named the paper,听鈥攃oauthored by听Benjamin Rogers,听assistant professor of management and organization鈥攊ts听.


Vanessa Conzon

Vanessa Conzon has been named a 2024-2025 Early Career Fellow for the . The fellowship program provides support to recent doctoral recipients to advance their research and careers. Conzon, who is an assistant professor of management and organization, also received the Above and Beyond the Call of Duty reviewer award from the of the Academy of Management, which recognizes reviewers for their helpfulness, civility, extensiveness, and insight of reviews.


Do Yoon Kim, an assistant professor of business analytics, was named an outstanding reviewer by of the Academy of Management.


Milena Wittwer 300x300 - 1

Milena Wittwer, an assistant professor of finance, was named a group member of the , which aims to foster and advance theoretical research in financial economics.听


Samuel Hartzmark, a Hillenbrand Family Faculty Fellow and professor of finance, won the 2023 along with a colleague for their paper


Nadya Malenko 500x500 - 1

Nadya Malenko, a professor of finance, was elected as a new member of the .


Benjamin Yost, an assistant professor of accounting, received the Edmund Outslay/JATA Conference Best Discussant Award from the (JATA). The award was given for his discussion of at the 2023 JATA Conference.