March 29, 2017

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Study finds positive prospects for California's green businesses

California's green businesses are more focused on local markets and more likely to stay in the Golden State than are their non-green counterparts, according to a University of California, Berkeley study, co-authored by Cynthia Kroll, a senior regional economist at the Fisher Center for Real Estate & Urban Economics, Haas School of Business. And when compared with traditional businesses, green ones are more likely to expand. (03/03/2010)

Oliver Williamson
Nobel Laureate Oliver Williamson’s impact on 21st century capitalism

When Professor Oliver Williamson won the Nobel Prize in Economics in October, Professor David Teece wasn’t surprised. He said he knew Williamson’s work was Nobel worthy decades ago. "Oliver outlined a conceptually elegant new framework for thinking about the very essence of business enterprise – how it is structured internally and how managers can invent new business organizations," Teece explains. "Secondly, he outlined what he called a ‘discriminating framework’ for helping us think through how firms should choose what to do inside and what to do outside – the outsourcing decision we currently think of." (02/04/2010)

Laura Kray
Should have, would have, could have … new research reveals the power of counterfactual reflection

Almost everyone has said these four words, “If only I had …” According to a new study by Laura Kray and Philip Tetlock, counterfactual thinking -- considering a ”turning point” moment in the past and alternate universes had it not occurred -- heightens one’s perception of the moment as significant, and even fated. Armed with a sense that life may not be arbitrary, counterfactual thinkers, the study suggests, are more motivated and analytical in organizational settings. (02/04/2010)

Teck Ho
Don’t Worry, Be Angry – marketing study shows angry negotiators walk out with a better deal

Professor Teck-Hua Ho’s wife loved a particular painting and wanted to buy it. Ho advised her not to appear excited – to disguise her emotions – in front of the salesperson. After an hour or so, Ho walked out of the store with the $380 painting – for only $120. Negotiation, Ho knows, is an art, too. In new research conducted with Assistant Professor Eduardo Andrade, Ho finds deflating – or inflating – one’s emotions can be a winning strategy. (12/03/2009)

Andrew Rose
Economists find predicting another severe global financial crisis is nearly impossible

The 2008 financial crisis prompted a renewed interest among economists to construct an “early warning system” but a new study concludes that out of 65 potential causes of a global economic meltdown, few factors would have predicted the severity of the crisis across a multitude of countries. (11/10/2009)

State's housing prices unlikely to recover for five years

What is the fall 2009 outlook for recovery in California’s real estate market? Senior regional economist Cynthia Kroll addresses the state’s housing future in her newly published paper, “California Housing in the Subprime/Credit Crisis – Overview and a Forward Look at Recovery.” According to Dr. Kroll’s research, it could take five years for housing prices to fully recover to the pre-crisis peak. (10/13/2009)

Pablo Spiller
Why public contracts follow different rules than private contracts

Have you ever wondered why government agencies engage in costly and inefficient public contracts? Political economist Pablo Spiller found that a fundamental difference between public and private contracting is the potential scrutiny of public contracts by opportunistic third parties. Understanding the risk associated with this scrutiny, according to Spiller’s latest research, is the first step toward improved regulation, efficiency, and reduced costs. (10/08/2009)

Richard Sloan
Stock prices follow investor sentiment more than ‘fundamentals’

What makes stock prices move? That’s a million-dollar question, and one that Haas School Professor Richard Sloan poses and answers in his recent paper "Investor Recognition and Stock Returns" (co-authored with Professor Reuven Lehavy, University of Michigan). Sloan maintains investor “recognition,” not earning results and related fundamentals, are the driving force -- accountable for more than 50 percent of explainable stock price variations.  (09/21/2009)

Cameron Anderson
On-the-job competence: simply a matter of speaking up

Anybody in the workplace, and perhaps politics, has probably experienced this perplexing phenomenon. The guy (or gal) in charge isn’t really competent for the job. How can this be? According to a study by researchers at the University of California, Berkeley’s Haas School of Business, those who act more dominantly are perceived as more competent, even if their actual skills don’t measure up. (04/03/2009)

Ernesto Dal Bó
An argument for longer term lengths: job security improves performance

A new study determines longer term lengths make politicians more productive. The findings of business and public policy Associate Professor Ernesto Dal Bó at the University of California, Berkeley’s Haas School of Business, are based on performance data from actual members of the Argentine House of Representatives and Senate. (04/02/2009)

Nicolae  Gârleanu
Insuring against the risks of innovation: a new way to view asset pricing

“Innovation” immediately denotes brilliance and discovery. In the realm of asset pricing, however, innovation can become a risk. UC Berkeley’s Nicolae Gârleanu, assistant professor, Haas School of Business, created a financial model that reveals a “shock” of innovation at a given company decreases human capital in competing companies that do not innovate. Consequently, asset pricing models must factor in the risk of innovation to ensure balance within the market, and profit among equity holders. (03/27/2009)

Zsolt Katona
Marketing and social networking: when measuring influence, quality connections top quantity

Taylor has 483 friends on Facebook. Cameron has 832 connections on LinkedIn. And Paige boasts more than 1000 followers on her Twitter page.  Are these three online devotees more popular than the average social networker?  Possibly so, but marketing professor Zsolt Katona, Haas School of Business, University of California, Berkeley, and a team of researchers found that as the number of one’s online contacts increases, the average influential power of that networking individual decreases. (03/09/2009)

Richard Sloan
Professor Richard Sloan Receives Top Accounting Award

The American Accounting Association has selected Professor Richard Sloan to receive its most prestigious annual award, the Notable Contributions to Accounting Literature Award, for his 2005 paper examining accruals, earnings, and stock prices. (03/07/2009)

Philip Tetlock Honored for Work on Political Judgment

The American Academy of Arts and Sciences has elected Haas School Professor Philip Tetlock to join its 2009 class of fellows at a ceremony in October. (02/27/2009)

J. Miguel  Villas-Boas
Professor Villas-Boas honored for groundbreaking marketing strategy insights

Haas Marketing Group Professor J. Miguel Villas-Boas has received the INFORMS Society for Marketing Science Long-Term Impact Award for changing the way marketers view data and consumer choice. This ground-breaking research forms the foundation of developing winning marketing strategies in today’s competitive world of commerce. (01/31/2009)

Eduardo Andrade
UC Berkeley marketing professors find that even when gamblers predetermine a spending budget, all bets are off after the first loss

When UC Berkeley marketing professor Eduardo Andrade and his wife went to Vegas for the first time, Mrs. Andrade insisted that they should make a responsible plan. After a short debate, they decided to gamble no more than $200 per day. When Mrs. Andrade lost at the table, broke the deal and spent more than planned, Andrade made her inconsistent turnabout the subject of his next research. What made her change her mind? (01/27/2009)

Terry Taylor
Retailers may find relief in manufacturer incentives that help them better forecast demand, says UC business professor

The economic slump is forcing retailers to slash prices in order to unload inventory. However, retailers can forecast demand more accurately when manufacturers offer a variety of contract incentives upfront, according to Terry Taylor, associate professor at UC Berkeley's Haas School of Business.  (12/19/2008)

Philip Tetlock
Professor Tetlock Wins Prestigious Grawemeyer Award

Professor Philip Tetlock has won the 2008 University of Louisville Grawemeyer Award for Ideas Improving World Order for the ideas in his book, Expert Political Judgment: How Good Is It? How Can We Know? (12/18/2008)

Chesbrough Honored as a Top 50 Innovation Author

Haas Adjunct Professor Henry Chesbrough will be honored as one of the top 50 authors in the field of technology and innovation management by the International Association of Management of Technology at its annual conference in April in Orlando, Fla. (12/01/2008)

John Morgan
A new policy prescription for corruption-free voting: require every eligible American to cast a vote, according to UC Berkeley professor

As the 2008 presidential election reports record voter turnout, a new study provides compelling evidence that mandatory voting may be the best way to reduce electoral corruption.  The research focused on “vote buying,” the act of bribing voters.  According to John Morgan, professor at the Haas School of Business, University of California, Berkeley, policy reforms combining the present secret ballot with the required vote of every eligible American would remove the possibility of vote buying. (10/29/2008)

Catherine Wolfram
MBAs Take the Mommy Track

Prof. Catherine Wolfram finds Harvard MBAs More Likely than MDs, JDs to be At-Home Moms (09/18/2008)

Barry Staw
Professor Staw Is Honored with Lifetime Achievement Award

In August, Haas School Professor Barry Staw received the 2008 Lifetime Achievement Award from the Academy of Management for his contribution to the field of organizational behavior. Staw was honored at the academy’s annual meeting in Anaheim, Calif. and said, “As the fourth recipient of the award, I was thrilled to receive it and deliver a one-hour address in connection with the award. “ (09/01/2008)

Jo-Ellen Pozner
Boards of Directors face uncertain futures when companies restate earnings

Corporate board members associated with firms that restate earnings may lose their jobs for reasons that have nothing to do with the numbers. Jo-Ellen Pozner, Assistant Professor in Organizational Behavior at the Haas School of Business at UC Berkeley, found that social mechanisms may play a larger role in penalizing board directors than is accounted for in classical economic theory. (08/27/2008)

Research Spotlight: Prof. Morgan Finds Monetary Policy is no Game of Following the Leader

Before becoming chairman of the Federal Reserve, Ben Bernanke said it was a "top priority" to "maintain continuity" with Alan Greenspan's leadership. However, in a new study, Haas Professor John Morgan questions the power structure of the Federal Reserve and determines that a single, powerful leader may not be the wisest way to create sound economic policy. (07/21/2008)

Professor John Quigley Discovers Green Building Pays Greenbacks

Everyone’s talking about “going green,” but the cost of the investment up to now has been difficult to justify. Energy savings aside, what are the financial benefits of using environmentally sustainable materials and technology in construction? Haas Professor John Quigley now offers the first systematic analysis of environmentally sustainable construction and its economic impact on the real estate market.  (06/16/2008)

Quok Shee on Angel Island

A new book by Haas administrator Robert Barde tells a sorry tale of immigration, American-style.Quok Shee, just 4-foot-9 and 20 years old, landed in San Francisco from Hong Kong on Sept. 1, 1916, with $10 to her name and Chew Hoy Quong by her side. Chew, an established Chinatown herb merchant, was a legal U.S. resident and, if their story was true, Quok’s new husband. (04/30/2008)

To Outsource or Not: Tadelis Study Sheds Light on Pitfalls and Benefits

Outsourcing's popularity has led to some spectacular washouts. Sprint, Sears Roebuck and Co., and JPMorgan Chase have in recent years backed out of outsourcing contracts totaling billions of dollars, and industry studies show they aren't alone. Given its high failure rate, is outsourcing still a smart strategy for innovative managers? (04/28/2008)

Professor Staw To Receive Lifetime Achievement Award

Haas School Professor Barry Staw will be honored with the 2008 Lifetime Achievement Award from the Academy of Management for his contribution to the field of organizational behavior. The academy will present Staw with the award at its annual meeting in August in Anaheim, Calif. (03/31/2008)

Prof. Hennessy Awarded Third Brattle Prize for Finance Research

Associate Professor Christopher Hennessy has won his third Brattle Prize in four years for a distinguished paper in the Journal of Finance. (03/31/2008)

Severin Borenstein
Study Finds Cloudy Outlook for Solar Panels

Despite increasing popular support for solar photovoltaic panels in the United States, their costs far outweigh the benefits, according to a new analysis by Severin Borenstein, a professor at the University of California, Berkeley's Haas School of Business and director of the UC Energy Institute. (02/20/2008)