5. Sriram Narayanan / Associate Professor at Michigan State University / April 27th, 2018.
Sriram Narayanan is currently Associate Professor at Michigan State University - Kesseler Family Endowed Faculty Fellowship in Supply Chain Management. Sriram Narayanan is an interdisciplinary scholar that has published research in journals in management, operations, and marketing such as Management Science, Strategic Management Journal, Production and Operations Management, Journal of Operations Management, Journal of Retailing as well as the Journal of the Academy of Marketing Science. He is also the Co-Department Editor for the Journal of Operations Management, Senior Editor in Production and Operations Management, and Associate Editor at the Decision Sciences.
During his visit, Sriram Narayanan presented one of his ongoing research project entitled: “Inclusive Manufacturing: Maximizing Disability Diversity, Cultural Diversity, and Productivity.”
4. David Mauer / Professor / UNC Charlotte / March 23rd, 2018.
David Mauer is the Torrence E. Hemby, Sr. Distinguished Professor in the Department of Finance in the Belk College of Business at UNC Charlotte. His research has appeared in finance journals such as the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, and the Journal of Corporate Finance. David Mauer is or has been an Associate Editor for the Journal of Corporate Finance, Journal of Financial Research, Financial Management, Financial Review, and Journal of Economics and Finance.
During his visit, David Mauer presented one of his ongoing research project entitled: “Industry Tournament Incentives and Debt Contracting.”
This paper examines whether industry tournament incentives influence credit ratings and bank loan contracting. We find that industry tournament incentives, as proxied by the pay gap between a CEO and industry peers, significantly decreases credit ratings. Stronger industry tournament incentives also significantly increase loan spreads and encourage shorter maturity loans, secured by collateral, and with more and stricter covenants. There is a tradeoff between the price- and non-price features of bank loan contracts, as the positive effect of industry tournament incentives on the cost of bank loans is offset by more restrictive features in loan contracts. We also find that the positive effect of industry tournament incentives on loan spreads is attenuated when the CEO is more entrenched.
3. Charles Schnitzlein / Professor / University of Vermont / February 21st, 2018.
Charles Schnitzlein, Steven Grossman Endowed Chair in Finance, is currently a Professor at the Grossman School of Business (UVM). Charles Schnitzlein's research applies the tools of experimental economics to financial market design issues. His research appears in journals such as the Journal of Finance, Review of Financial Studies, Journal of Business, and the Journal of Financial and Quantitative Analysis. He also serves as an Associate Editor for the Journal of Financial Research, and the Journal of International Financial Markets, Institutions, & Money.
Charles Schnitzlein presented one of his ongoing research project entitled: “Information and Risk Attitudes: An Experiment.”
The assumption that economic agents maximize the expected utility of a concave utility of wealth function (EUT) is used ubiquitously as a model of behavior in the presence of risk in empirical and theoretical research in economics and finance. Despite its simplicity and logical appeal, EUT has been challenged as a poorly performing model in explaining behavior and alternatives have gained traction (e.g., loss aversion). We add to this literature by showing that information about the value of a risky asset affects behavior in a way that is inconsistent with both EUT and loss aversion. We do this by conducting an experiment in which we run a prediction market. Our experimental data set includes 172 subjects and 6,250 compensated predictions. In each prediction period, a subject predicts the value of a risky asset, with the accuracy of the prediction determining the payoff. We systematically vary the amount of information about the risky asset that a predictor holds. We find that low levels of information about the distribution of the risky asset value are associated with risk-seeking behavior (negative expected value predictions). In contrast, information that implies a substantial revision in the asset’s expected value is associated with risk-averse behavior: expected profits are traded off for reduced risk. Our results suggest less stability in risk preferences than is commonly assumed in the literature and have implications for understanding financial and other behavior in a variety of contexts.
2. Jonathan Doh / Professor / Villanova School of Business / December 1st, 2017.
Jonathan Doh, Herbert G. Rammrath Endowed Chair in International Business, is currently the Associate Dean of Research and the Director of the Center for Global Leadership at the Villanova School of Business (Villanova University). Jonathan Doh is an interdisciplinary scholar active in the fields of multinational and nonmarket strategy, international business, corporate social responsibility and sustainability, HRM and OB, leadership and governance, and the role of NGOs in the global business environment. His research appears in Top-Tier journals such as the Strategic Management Journal, Journal of Management Studies, Organization Studies, Organization Science, Journal of World Business, Journal of International Business Studies, Journal of Management, Human Resource Management, MIS Quarterly, Organizational Research Methods. Jonathan Doh also serves as the current Editor of the Journal of World Business.
During his visit, Jonathan presented one of his ongoing research project entitled: “Corporate social responsibility and acquisition performance: The role of social distance.”
Combining the literatures on instrumental stakeholder management and corporate acquisitions, this study examines the positive and negative effects of two dimensions of social distance on acquisition performance. Data from 479 acquisitions reveal that differences between the acquirer and target firms relating to CSR-strengths have a positive effect on acquisition performance. Further, R&D investments amplify the positive effect of differences in CSR strength and attenuate the negative effects of differences in CSR weaknesses. Taken as a whole, these findings suggest that acquisitions can significantly alter the acquirer’s future portfolio of CSP-related strengths which in turn is reflected in expected integration benefits associated with the deal.
1. Francois Maon / Associate Professor / IESEG School of Management / September 6th, 2017.
Francois Maon is currently Associate Professor at the IESEG School of Management (France). His research focuses on topics linked to CSR learning, implementation and change-related processes, cross-sector social partnerships, and stakeholder dialogue and influence strategies. His research appears in journals such as the California Management Review, Journal of Business Ethics, International Journal of Management Reviews, Supply Chain Management: An International Journal, European Journal of Marketing. He also co-edited several special issues of international journals and books on CSR-related topics. Francois Maon currently serves on the Editorial Board of Business & Society.
During his visit, Francois Maon presented one of his ongoing research project entitled: “Stakeholder influence tactics: Ideologically-loaded objectives and power-based moves.”
Building on insights from literature pertaining to stakeholder influence, organizational ideology, and organizational power, we conduct a multiple case study research with two large, European-based companies and involving 48 stakeholder organizations to address two central issues: (1) how the ideological, value-laden orientations of a stakeholder organization actually trigger its motivation to influence the nature and level of a company’s corporate social change activities and (2) the way stakeholder power conditions both the objectives and nature of stakeholder influence attempts. As a result, we provide a typology of 12 influence tactics, based on stakeholders’ ideological rationale for influence, their level of power over the company, and the nature of their power bases. In so doing, we stress the substantial role of ideological orientations of stakeholders in terms of how they perceive, interact with, and attempt to influence a target company. In addition, we contribute to provide an integrative understanding of the motivational and behavioral dimensions of stakeholder influence endeavors.