欧洲工商管理学院（INSEAD）

Deglobalization, the process through which economic agents are increasingly severing their international economic links and relocating economic activity toward their domestic economies, has been affecting supply chains spanning the globe. In the face of major economic and political challenges, companies have always been redesigning their networks through which inputs are sourced, products are manufactured, and customer demand is satisfied. While

Many companies consistently report lower earnings in the fourth fiscal quarter – a pattern that confounds both investors and analysts.Loading the Elevenlabs Text to Speech AudioNative Player...Quarterly earnings reports are a vital tool to help investors track and evaluate the financial performance of publicly traded companies. Those whose performance resoundingly beat analysts’ estimates can see their stock prices skyrocket – think Ama

AbstractOpinions of others influence behavior and decision-making, with important consequences for health. An unaddressed question is whether and how social influence can generalize across different situations or decisions. From a learning perspective, generalization is the transfer of previously acquired information to new stimuli and can be based on both perceptual and conceptual similarity. Here, we test whether social influence generalizes to

AbstractWe propose a new perspective on family firms' puzzling under-diversification in product spaces: these firms first need to succeed in exploratory innovation so they may diversify into new product markets. We construct a large database of family ownership and patent records of U.S. public firms, and show that family firms produce more exploratory patents than others, a relation that is stronger among under-diversified family firms. In a

AbstractWe show that financial constraints lead to spatial misallocation and contribute to racial disparities in housing and wealth accumulation. Using bunching and difference-in-differences designs, we document that down payment constraints disproportionately limit the ability of Black households to access housing in high-opportunity areas. We build a dynamic life-cycle model to examine the long-term wealth effects of these leverage distortions