To Legalize Online Gambling or Not? It鈥檚 Complicated

Tue, Sep 24, 2024

天美传媒 Cox professor Wayne Taylor recently conducted research explores online gambling legalization, analyzing its impact on tax revenue and gambling behavior across states.

Spectacular: Movie Piracy Research Offers Broad Implications for Digital Economy

Mon, Sep 23, 2024

In the paper, "Avengers Assemble! When Digital Piracy Increases Box Office Demand," Strategy Professor Wendy Bradley of 天美传媒 Cox and coauthors explore how digital piracy impacts the demand for creative goods, specifically movies, with broad implications for the digital world.

In Conversation: Arjan Singh, Adjunct Professor, Talks on Corporate War Games Design

Wed, Sep 11, 2024

Consultant and Adjunct Professor at 天美传媒 Cox, Arjan Singh talks to Harvard Business Review on how to design corporate war games.

A Journey of 4,000+ Miles Leads to a Greater Understanding of the Health Impacts of Nature

Mon, Aug 26, 2024

In a recently published paper titled 鈥淓xperiencing Nature Leads to Healthier Food Choices,鈥� 天美传媒 Cox Marketing Professor Maria Langlois, with co-author Pierre Chandon, explore how exposure to nature encourages healthier food choices.

New Frontiers in Competition and the World鈥檚 Most Valuable Brands

Tue, Oct 31, 2023

In new research, Strategy Professor Wendy Bradley of 天美传媒 Cox and Julian Kolev of the U.S. Patents and Trademark Office analyze new products and services in the digital world, which helps in explaining the rise of intangible assets among firms.

Power of Persuasion in the Financial Side of the C-Suite

Sat, Oct 28, 2023

In new research, Wang of 天美传媒 Cox and coauthors explore why narcissists are more promotable, enjoy longer tenures, and earn higher compensation than their peers.

Proving Gender Bias is Hard: Cox Professors Did, With the Help of a Nobel Prize-Winner

Mon, Sep 25, 2023

In groundbreaking research, Darius Miller and Ruidi Huang of 天美传媒 Cox, with coauthor Erik Mayer, examine gender bias in promotions within the U.S. financial industry.

Unraveling of Silicon Valley Bank: Causes and Implications

Tue, Mar 28, 2023

Does the failure of Silicon Valley Bank threaten the integral structure of banking? Read the causes and implications of SVB鈥檚 unraveling with expert analysis from 天美传媒 Cox professors Gauri Bhat and Hemang Desai.

What the Market Thinks of Net-Zero Pledges

Wed, Mar 22, 2023

In a forthcoming paper, Accounting Professor Hemang Desai of 天美传媒 Cox and coauthors analyze these firms鈥� carbon reduction pledges to understand the drivers behind pledges and whether the market finds them credible.

Research Assistant Professor Ryan Murphy Co-Authors Paper on Anti-Growth Safetyism

Fri, Mar 17, 2023

Ryan Murphy, research assistant professor at the Bridwell Institute for Economic Freedom, and co-author Colin O'Reilly recently published "Anti-growth safetyism" on WorksinProgress.co.

Getting Real About Real Estate

Thu, Mar 16, 2023

New research by Professor Toby M眉hlhofer of 天美传媒 Cox and co-authors focuses on valuing illiquid assets, specifically commercial real estate and related securities.

天美传媒 Cox Professor Hayoung Yoon Researches Redacted Text

Tue, Mar 7, 2023

Materiality is in the eye of the beholder. In a more disclosure-aware environment, unique angles are emerging that spotlight the effect of information. New research by Accounting Professor Hayoung Yoon of 天美传媒 Cox, with coauthors Thompson and Urcan, shows how presumably immaterial redacted information can have material consequences for investors.

天美传媒 Cox Chair Co-authors Research in Recent Harvard Business Review

Wed, Jan 4, 2023

The research, co-authored by 天美传媒 Cox Associate Professor of Management and Organizations and MNO department chair Marcus Butts, affirms that conflicts at home also negatively affect our energy and emotions throughout the workday and also shows that many employees react to their bad home experiences in a surprising way: by offering help to their colleagues.

What is a Firm鈥檚 Supply Chain Risk? Nobody Really Knows

Wed, Oct 5, 2022

Supply chain research has often centered on shock transmission. However, missing from the equation are insights into how firms are affected by supply chain risk鈥攓uantified at the firm level鈥攁nd how they respond. New research by 天美传媒 Cox finance Professor Ruidi Huang with Ersahin and Giannetti reveals novel insights into the nature of supply chain risk.

It鈥檚 Material: Advancing Human Capital鈥檚 Potential

Sat, Oct 1, 2022

In new research, 天美传媒 Cox Accounting Professor Sorabh Tomar with his coauthors highlight how diversity information influences jobseeker behavior鈥攖he 鈥渋nnovation鈥� of their research being the specific focus on information.

Climate Risk Ratings and Investment: Words Matter

Mon, Sep 26, 2022

Various types of analysts measuring environmental, social, governance (ESG) factors in the financial and corporate world come to the conclusion that the 鈥淓鈥� is the most important part of the term. In a new study by 天美传媒 Cox Marketing Professor Milica Mormann and her coauthor, they actually show the effects of general and specifically-worded climate risk ratings on investment choices, the E.

Mind the Gap: Mutual Funds Often Underperform in Long Run

Fri, Aug 5, 2022

Most investors, especially in their retirement portfolios, face the task of choosing a mutual fund, often with inertia. According to research by Finance Professor Feng Zhang of 天美传媒 Cox, the typical investor tends to lose money investing in mutuals funds.

Consumer Marketing Math: Even the Numerate are 鈥淥ff by 100%鈥�

Tue, Mar 1, 2022

In new research, Marketing Professors Matthew Fisher and Milica Mormann of 天美传媒 Cox shed light on a surprising persistent mistake consumers make that can have important consequences. The 鈥渙ff-by-100%鈥� bias the authors observe impacts purchase decisions, with implications for every-day shopping decisions and even on trading on platforms like Robinhood and E-Trade.

Post-COVID Recovery of Arts Organization Prediction Models

Tue, Feb 22, 2022

Professor Glenn Voss, Professor Emeritus of Marketing and Research Director at 天美传媒 DataArts, and Karthik Kannan, Assistant Professor of IT and Operations Management and Donna Wilhelm Research Fellow at 天美传媒 DataArts, recently presented a webinar on prediction models for post-COVID recovery of arts organizations.

ClearAdmit Podcast Highlights the Cox School's Big Picture Approach

Thu, Feb 10, 2022

Host Graham Richmond welcomed Lisa Tran and Jason Rife from 天美传媒 Cox to explore the symbiotic relationship between corporate relationships, admissions and career services that propels MBA graduates鈥� success.

Professor Ulrike Schultze Examines How Technology Affects Organizations

Tue, Feb 1, 2022

Who are we becoming 鈥� as individuals and as members of society 鈥� the more we engage in technology-mediated spaces that are increasingly populated by robots and AI? These are the kinds of questions that have fascinated Ulrike Schultze, a professor in information technology and operations management (ITOM) at 天美传媒 Cox, for years.

The Supply Chain Crunch: Lessons from Girl Scout Cookie Sales

Fri, Jan 28, 2022

Lean supply chains, which emphasize efficiency, leave very little slack in the system, with small changes in demand and supply patterns potentially leading to severe shortages.

天美传媒 Cox Professor Marcus Butts Researches Work-Life Balance

Wed, Jan 12, 2022

天美传媒 Cox Associate Professor Marcus Butts researches topics including workday social media usage and inter-team dynamics.

The Coders Dilemma: Piracy Sparks New IP Strategies

Mon, Nov 29, 2021

In the study, 天美传媒 Cox Strategy Professor Wendy Bradley and co-author Julian Kolev of the U.S. Patent and Trademark Office observe how technology companies altered their intellectual property (IP) portfolio strategies after a period of piracy motivated more diversified innovation strategies.

Making Customers Pay Up May Backfire: Beware of Unintended Congestion

Tue, Nov 2, 2021

In new research by ITOM Professor Sreekumar Bhaskaran of 天美传媒 Cox and co-authors, they re-think the congestion challenge and offer a new perspective about the traditional approaches of using the levers of price and quality. Rather than solely using higher prices to reduce traffic, the authors offer more nuance with the idea of 鈥渃onsumption control.鈥�

天美传媒 Ignited: Boldly Shaping Tomorrow

Fri, Oct 1, 2021

Delivering on the promise of partnership with the city it calls home, 天美传媒 is launching a $1.5 billion fundraising campaign focused on the opportunities created through scholarships, meaningful research and teaching and community.

Supply Chain Players鈥� Generosity Pays Off Amidst Climate Risk

Fri, Oct 1, 2021

Professor Ruidi Huang of 天美传媒 Cox and his coauthors show how firms react to natural disasters and what actions can help supply chains stay resilient.

New Approach to Identifying Bellwether Firms: How They Influence the Future

Wed, Sep 1, 2021

In new research, Accounting Professor Sean Wang of 天美传媒 Cox and his co-authors identify a group of firms that move in tandem with the VIX and find that these firms essentially act as bellwether firms, microcosms of the market itself.

Re-thinking Physical Spaces: Co-Location Helps Solve a Growing Mental Health Crisis and Workplace Issues Post-Pandemic

Tue, Jul 27, 2021

In new research by ITOM Professor Vishal Ahuja of 天美传媒 Cox and co-authors Alvarez and Staats, they show that proximity of physical spaces, that they refer to as co-location, matters.

Financing Crypto Firm鈥檚 Projects: An Unlimited Token Offering?

Tue, Jun 15, 2021

With mature crypto projects in short supply, new research from Cox ITOM Assistant Professor Rowena Gan sheds light on the optimal design of 鈥渦ncapped鈥� initial coin offerings.

Emissions Disclosures by U.S. Manufacturers Shows Reductions: The Reasons Why Surprise

Tue, Apr 13, 2021

This study is one of the first to quantify the effects of disclosing GHG emissions when the bulk of emitters transition from no disclosure to public disclosure.

COVID-19 Pandemic Shines Spotlight on Coworker Compassion and Reforms

Tue, Jan 26, 2021

天美传媒 Cox management and organizations associate professor Marcus Butts and his co-authors discover that coworkers are displaying more concern for and less mistreatment of ill colleagues rather than self-interested behavior in this time of COVID-19.

Spatial Landscape Helps Determine Loyalty Programs鈥� Success

Tue, Jan 5, 2021

Starting in the airline industry in the 1980s, loyalty programs have been adopted in businesses such as hotels, casinos, retailers, grocery stores, and restaurants. In novel research, Marketing Professor Wayne Taylor of 天美传媒 Cox and co-author Brett Hollenbeck analyze the competitive 鈥渟patial鈥� landscape surrounding the customer and identify actionable marketing insights.

天美传媒 Cox Public Firms a Fraction of Borrowers from Government Stimulus During Pandemic

Fri, Dec 18, 2020

New research by 天美传媒 Cox finance professor Anna Cororaton and Samuel Rosen of Temple University sheds light on which public firms applied for and received stimulus funds, in one of the first empirical studies of the unprecedented fiscal programs to help keep American businesses afloat during the pandemic.

天美传媒 Cox鈥檚 Vishal Ahuja Improves Patient Care

Fri, Dec 18, 2020

An assistant professor of information technology and operations management (ITOM) at 天美传媒 Cox and an adjunct professor of clinical sciences at UT Southwestern Medical 天美传媒, Ahuja leans on his years of experience in the corporate world to apply principles of operations management and data analytics to local healthcare data and improve patient outcomes and efficiency of care.

National Security Law Deters Foreign Investment in the U.S.

Wed, Dec 16, 2020

天美传媒 Cox Finance Professor Darius Miller examines the effects of the Foreign Investment and National Security Act on shareholder wealth and the U.S. economy.

Brierley Institute Research Analyzes The Pandemic鈥檚 Effect On Retail, Travel And Entertainment

Tue, Dec 15, 2020

鈥淥ur biggest challenge is to spread the word from what we鈥檙e learning beyond the classroom to reach today鈥檚 marketers.鈥�

Visual Finance 101: Red Color Influences Investor Behavior

Wed, Dec 9, 2020

New research by 天美传媒 Cox marketing professor Milica Mormann and coauthors Bazley and Cronqvist reveals how the visual presentation of financial information impacts important financial decisions.

天美传媒 Cox鈥檚 Newest Professor Zhen Zhang Goes Beyond the Numbers

Thu, Nov 12, 2020

Meet professor Zhen Zhang, 天美传媒 Cox School of Business鈥� newest faculty addition. Zhang brings his substantive expertise in leadership and analytical methods to the School.

Who Fared Better or Worse After Wright Amendment Repeal? Deciphering Dallas鈥� Southwest Airlines Network Changes

Wed, Oct 21, 2020

Dallas Love Field and Southwest airline passengers received multiple boons when the Wright Amendment was repealed in late 2014. There were more nonstop flights and destinations, more gates at Love Field and reduced fares. Media stories reported that this policy reversal was a positive development. However, in new research, ITOM Professor Vishal Ahuja of 天美传媒 Cox and co-authors show that the repeal had some unintended consequences.

Why Most Startups Fail 鈥� and the Skills Needed for Their Success

Tue, Jul 21, 2020

Bhaskaran has studied what makes startups successful, with an emphasis on how entrepreneurs find a balance between their businesses鈥� short-term survival and their long-term profitability. It鈥檚 a trade-off at the heart of a research paper he co-authored in 2019 entitled, 鈥淪equential Product Development and Introduction by Cash-Constrained Start-Ups.鈥� We spoke with him about why most startups fail and the skills needed to facilitate their success.

The Benefits of Telemedicine as a Form of Continuity of Care

Wed, Jul 8, 2020

Vishal Ahuja's empirical study examined the impact of maintaining continuity of care in a primary care setting. For Ahuja, the research was personal, and a goal was set: Capture the value.

The Scientific Pros and Cons of Virtual Meetings 鈥� and How They Affect Business

Wed, Jun 17, 2020

The COVID-19 stay-at-home orders have created a dependence on the use of videoconference platforms and telepresence. We spoke to Professor Amit Basu, who conducted an empirical study on the effectiveness of such technologies, for his insights.

Maintaining Continuity in Challenging Times

Mon, Apr 13, 2020

In his paper 鈥淎n Empirical Study of the Effectiveness of Telepresence as a Business Meeting Mode,鈥� Information Technology and Management Journal, 2016, Professor Amit Basu reported on a large-scale empirical study of the use of various virtual meeting technologies in business meetings.

Larger Banks Lead to Less Economic Mobility

Fri, Jan 31, 2020

Over the last several decades, consolidation in the banking industry has created larger banks, according to new research by 天美传媒 Cox Finance Professor Erik Mayer, leading to some negative effects for low-income households.

Accounting in the Age of Knowledge: Making Intangibles Tangible

Wed, Dec 18, 2019

In ambitious research, 天美传媒 Cox Accounting Professor Sean Wang and his co-authors develop a new way to measure intangible assets that has been lacking for decades.

Digital Piracy in the Age of Knowledge: Innovation the Key

Tue, Dec 10, 2019

In a new study, strategy professors Julian Kolev and Wendy Bradley analyze the link between digital piracy and innovation for technology firms in the software business.

In Broad Daylight: Where the Smart Money Shorts Stocks

Mon, Nov 4, 2019

Mystery and speculation shrouds short sellers, also known as the 鈥渟mart money.鈥� Who are they? Where do they trade and why? In new research, Finance Professor Mehrdad Samadi of 天美传媒 Cox and co-authors provide the first evidence of short sellers, or informed traders, trading venue of choice.

Internet Learning: Are We Outsourcing Our Memory?

Tue, Oct 1, 2019

Vast amounts of knowledge are at our fingertips owing to the Internet. As we continually immerse ourselves in the online world of information, what are the cognitive effects of it? This fundamental question is on the mind of Marketing Professor Matthew Fisher of 天美传媒 Cox in new research about Internet learning and its consequences. According to Fisher, little research about the subject has occurred to date in understanding this phenomenon.

Future of Online Markets: Increasing Mobile Channel Differs From PC Channel

Tue, Sep 3, 2019

The mobile channel is poised to be the future of online markets, according to ITOM Professor Tom Tan of 天美传媒 Cox. And, retail operations managers should not blindly treat the mobile channel like the conventional PC channel. In a working paper, Tan and co-author Nitish Jain make important contributions to innovative retail practices and operational decisions.

Cross-border Investing: Increasingly Important for Start-Ups and Growth

Wed, Jul 24, 2019

Cross-border venture capital investments play an important role in the scaling up of high growth companies, according to Strategy Professor Wendy Bradley. Foreign capital, expertise, and the networks that accompany cross-border investments are welcome by start-up ventures. However, a concern is that they transfer the majority of economic activity to the investor country. In new research, Bradley of 天美传媒 Cox and her co-authors examine cross-border venture capital (VC) investments and its implications for public policy. 鈥淭here is a need for cross-border investments and partnerships for the advancement of science and economic growth,鈥� says Bradley.

Informed Investors Crucial for Shareholder Democracy

Thu, Jun 27, 2019

Firms with strong corporate governance are like democracies, according to Finance Professor Nickolay Gantchev. Through their proposals and votes, shareholders can determine the broad direction of a company. In new research, Nickolay Gantchev of 天美传媒 Cox and Mariassunta Giannetti study the effectiveness of this low-cost form of shareholder activism. 鈥淟ike a democracy, if you have more informed shareholders, when they vote, they can figure out which are good proposals, and prevent the bad ones from passing,鈥� says Gantchev.

How to Navigate Today鈥檚 Multi-Teaming Organization

Mon, Jan 28, 2019

Ambiguous Texas Shoplifting Laws May Be Applied Inconsistently By Police

Fri, Dec 7, 2018

For more than three years, ambiguous wording in the Texas Penal Code led to inconsistent treatment of black and white arrestees for low-value shoplifting, according to a new study by a professor at 天美传媒 Methodist University.

Shoppers Changed Up Retail Store Choice in Hard Times

Mon, Dec 3, 2018

天美传媒 Cox Marketing Professor Chaoqun Chen analyzes how consumers shop around various retail formats and how their behavior changed during the Great Recession. Her findings uncover truths about how consumers from different income levels adjusted to a new normal in their weekly treks.

Insurers' Product Evolutions a Source of Systemic Risk

Thu, Nov 8, 2018

Just when 鈥渟imple" worries about the economy and the elections were on our minds, a new source of risk to the financial system emerges鈥�

Solving the Billion Dollar Challenge of High Drug Development Costs

Mon, Oct 8, 2018

What if clinical trials could be conducted faster, required fewer patients, cost less, and led to improved health? "Our approach is good for patients, companies, and the public health at large, which would come from needed drugs being on the market sooner," states Vishal Ahuja, ITOM professor at 天美传媒 Cox.

Financial Protectionism Deters Investment and Costs Shareholders

Mon, Aug 27, 2018

At a time when capital has never been more mobile and available, financial protectionism is on the rise. The costs of these economic nationalistic policies are little known however. In new research, 天美传媒 Cox Finance Professor Miller and co-authors reveal the important consequences of government-related incursions in deals between foreign and domestic companies and the resulting decline in shareholder value for a wide range of industries.

The Economics of Attention: A Valuable Commodity That's Hard to Measure

Tue, May 1, 2018

The new scarce resource is attention, notes Marketing Professor Milica Mormann of 天美传媒 Cox. "We live in an attention economy, and our attention is limited." Through a multi-disciplinary approach, Mormann and co-author Cary Frydman reveal how attention is operating to influence economic choices in their novel research. "Attention is the step that leads a manager or consumer toward an action," she states. "We know we have about eight seconds to deliver a message on social media, in a TV ad, or for an investing decision or health care choice. But we do not know exactly how attention operates, in spite of the industry performing studies to gauge attention."

Hedge Fund Activism Shows Firms a Better Path

Mon, Apr 2, 2018

When it comes to corporate governance, hedge funds are the new sheriffs in town. That鈥檚 the take-away of 鈥淒o Activists Turn Bad Bidders into Good Acquirers?鈥� Associate Professor of Finance Nickolay Gantchev and his co-authors reveal new insights about the mergers and acquisitions strategy of firms that shareholder activists target.

CEOs "Style" of Information Processing Reflected in Growth Strategies

Mon, Dec 4, 2017

Getting inside the mind of the chief executive officer is a difficult research avenue. Knowledge about how CEOs process information, their cognitive style, has been relatively sparse. Strategy Professor Daniel Zyung of 天美传媒 Cox and co-authors unpack the cognitive mechanisms of CEOs in new research 鈥� and reveal how and why it matters. "Basically, this is a study about CEOs鈥� information processing style," Zyung says, "with many important implications, including their firm鈥檚 growth strategies."

U.S. Shale Oil is Plentiful and Competitive, New Research Suggests

Mon, Oct 30, 2017

The emergence of U.S. shale oil has expanded the global supply of oil. New research notes that the long-run impact of shale oil will depend on how much can be produced and how much it will cost. Few have good answers. In recent research, finance professor and energy expert James Smith of 天美传媒 Cox with co-author Thomas Lee determine what portion of known shale resources are economically viable at various price points and how many wells are likely to be drilled. So far, only a small portion of drilling sites have factored into the shale oil boom, according to Smith, and we have only depleted a fraction of U.S. shale resources.

Gatekeepers Hold Key to Lower Costs in Health Care

Tue, Oct 24, 2017

The U.S. healthcare system is the most expensive system in the world. Identifying ways to lower costs and have better health outcomes is a primary goal for health care managers and providers, policymakers and consumers. In new research, ITOM Professor Vishal Ahuja of 天美传媒 Cox and co-authors show that better continuity of care lowers costs and wasted effort, reduces time to see specialists, and produces significant savings in hospital system resources. They identify how "gatekeepers" are key to a more optimal and healthier system.

Saving Retirement: Government Subsidy to Investment Industry Shortchanges Savers, Taxpayers

Wed, Oct 18, 2017

As policymakers around the globe continue to debate options to incentivize retirement savings, new research uncovers some game-changing facts. The two main competing options consist of traditional tax-deferred savings vehicles like 401(k)s and IRAs, in which savers contribute pretax money and pay tax on withdrawals, or Roth-type plans, whereby savers pay taxes first and withdraw funds tax-free upon retirement. Which type of scheme is better depends on which side of the table one sits. In their paper, 天美传媒 Cox Finance Professor Mattia Landoni and co-author Zeldes discover that under a Roth-type regimen, government fares better, largely because of the investment fees that government implicitly pays in traditional tax-deferred accoun

Avoiding the Next Liquidity Crunch: Bond Mutual Funds May Save the Day

Thu, Sep 7, 2017

Regulators of financial markets, including the Federal Reserve Bank and the Securities and Exchange Commission, worry about a liquidity crisis in the corporate bond market. The financial market crisis of 2008-2009 involved domino-like liquidity shocks and regulators wish to steer clear of them if they can help it. In new research, 天美传媒 Cox Finance Professors Venkataraman and Jotikasthira show that some bond mutual funds are filling the role of a liquidity supplier, alongside a decline in dealer participation in market-making activities.

Is Crowdsourced Investment Research Here to Stay?

Fri, Jun 2, 2017

Today, many crowd-sourced investment research venues and platforms co-exist on the Internet, with new competitors continuing to arrive on the scene. These new entrants are becoming a source of information for investors and capital markets that rival the incumbent sell-side analyst research model. Technological innovation is making it so, along with smart entrepreneurs identifying market opportunities. In new research, 天美传媒 Cox Accounting Professor Stanimir Markov and co-authors examine how this increased competition is shaking up the status quo.

who is moving modern markets

Mon, Apr 3, 2017

The findings will help inform policymakers鈥� rulemaking to prevent future crashes and better design market structures.

Big Data: Using Data Analytics to Enhance Drug Safety

Tue, Sep 29, 2015

The use of big data in the health care industry, the largest sector of the economy, offers many benefits for the overall economy, businesses, and the health and well-being of people. In a first-of-its-kind study, 天美传媒 Cox ITOM Professor Vishal Ahuja and co-authors show how the use of data can validate life-changing health care findings. Additionally, this new approach using big data demonstrates how regulatory agencies can advance their governance missions by monitoring public safety with more robust, real-time analytical methods.

Analyst/Investor Days Recognized as Important Corporate Communications

Thu, Sep 24, 2015

With literally troves of corporate information available online for analysts to sift through, how can firms differentiate their message and convey complex, meaningful information to those who need it? The increasing number of analyst days, a long-form presentation by publicly-listed companies, indicate a trend toward a greater demand for face time with management. In novel research, Accounting Professor Stan Markov of 天美传媒 Cox and co-author Marcus Kirk study analyst/investor days as a disclosure medium that large firms with complex operations use to deepen stakeholders' understanding about the firm's outlook and valuation.

Deal or No Deal: Are People Hard-Wired to Agree?

Mon, Aug 31, 2015

Are people hard-wired to reach agreement, even when a deal is less than optimal or below a bottom line? According to new research by Management Professor Robin Pinkley and co-authors, as if force of habit, when faced with an offer people are reaching agreements and sealing deals when not agreeing might be a more rational choice. This phenomenon is based on the tendency of people being averse to impasse and attracted to agreement.

Rational Investment Decisions: Shale Gas Not Over-Drilled

Mon, Aug 17, 2015

The oil and gas industry has received a bad wrap about drilling for shale gas. Since late 2008, when prices collapsed owing to demand destruction from the economic crisis and an abundance of supply, prices of natural gas have remained low. From an all-time high of $14 per mcf (thousand cubic foot) they have fallen to under $3 today. Critics have charged that too many gas wells have been drilled given the low prices, and that the gas boom is unsustainable. 天美传媒 Cox Finance Professor James Smith's new research says the facts do not support that claim.

Outdated Convention Distorts Oil and Gas Firms' Bottom Lines: Valuing Barrels Better

Fri, Jul 31, 2015

The conventional method used by the oil and gas industry to report on upstream operations and results distorts profitability and valuations. Industry practice is to use "barrels of oil equivalent" or BOE鈥� a measure that combines oil and gas volumes based on thermal parity, or the energy content of the source. Research by Finance Professor James Smith, the Maguire Chair of Oil and Gas Management, shows why and how the BOE convention has overstated the cost of adding reserves, the principal asset held by these firms. This comes at a time when the industry can scarcely afford miscalculations to their detriment.

Why Do Some Firms Announce Stock Buybacks But Not Follow Through?

Wed, Jul 1, 2015

Companies buy back stocks for a variety of reasons. One rationale is a key motive for a new study: Managers of undervalued firms use stock repurchases as a mechanism to signal firm value. Curiously, Finance Professor Stacey Jacobsen of 天美传媒 Cox and co-author Utpal Bhattacharya find a large number of firms announce share repurchases but do not actually follow through with the buyback. The stock market tends to view repurchase announcements as good news, according to its reaction.

Shareholder Voting and Activism Influences Foreign Firms' Governance

Thu, Oct 2, 2014

In the U.S., shareholder voting and activism is increasingly used to influence firm policy. New research by 天美传媒 Cox Finance Chair Darius Miller and co-authors suggests that shareholder voting can be an effective governance mechanism in countries outside the U.S. "This is important," says Miller, "since in many countries outside the U.S., the need for governance is greatest." The authors set out to test shareholder activism in global markets in a first-of-its-kind, large-scale study. Prior to this paper, there was not any evidence on whether shareholder voting in other countries was effective or not.