Papers & Citations

Books

Highlighted Publication 
 

"Government Policy and Ownership of Equity Securities"

Authors:  Strebulaev, Ilya; Rydqvist, Kristian; Spizman, Joshua

Abstract: Since World War II, direct stock ownership by households has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with measures of the tax benefits of holding stocks inside a pension plan. This finding is important for policy considerations on effective taxation and for financial economics research on the long-term effects of taxation on corporate finance and asset prices.

Paper: Government Policy and Ownership of Equity Securities

Search GSB Research Papers

Selected Publications

The following list represents selected publications containing global research articles by faculty. To read the complete article, navigate to the publisher's website (may require subscription and/or purchase). 

2014

Bloom, Nicholas; Berinato, Scott; "To Raise Productivity, Let More Employees Work from Home"; Harvard Business Review, Jan/Feb 2014, Vol. 92, Issue 1/2, p28-29, 2p. [Article]

Piotroski, Joseph D.; Zhang, Tianyu; "Politicians and the IPO decision: The impact of impending political promotions on IPO activity in China"; Journal of Financial Economics, Jan 2014, Vol. 111, Issue 1, p111-136. 26p [Abstract]

2013 

Piotroski, Joseph D.; "The London Stock Exchange's AIM experiment: Regulatory or market failure? A discussion of Gerakos, Lang and Maffett"; Journal of Accounting & Economics. Dec 2013, Vol. 56 Issue 2/3, p216-223. 8p [Abstract]

Gerakos, Joseph J.; Piotroski, Joseph D.; Srinivasan, Suraj; "Which U.S. Market Interactions Affect CEO Pay? Evidence from UK Companies"; Management Science,  Nov 2013 , Vol. 59, Issue 11, p2413-2434 [Abstract]

Barth, Mary E.; Israeli, Doron; "Disentangling mandatory IFRS reporting and changes in enforcement"; Journal of Accounting & Economics, Dec 2013, Vol. 56, Issue 2/3, p178-188. 11p [Abstract]

Hassan, Sharique;  Bagde, Surendrakumar; "The Mechanics of Social Capital and Academic Performance in an Indian College";  American Sociological Review; Dec 2013, Vol. 78, Issue 6, p1009-1032, 24p  [Abstract] 

Bowen, T. Renee; Kreps, David M.; Skrzypacz, Andrzej; "Rules with Discretion and Local Information"; Quarterly Journal of Economics; Aug 2013, Vol. 128, Issue 3, p1273-1320, 48p [Abstract]

Finan, Frederico; "Strengthening State Capabilities: The Role of Financial Incentives in the Call to Public Service"; Quarterly Journal of Economics; Aug 2013, Vol. 128, Issue 3, p.1169-1218, 50p [Article & Paper] [Video]

Nair, Harikesh; "Social Ties and User-Generated Social Content: Evidence from an Online Social Network"; Management Science; Jun 2013, Vol. 59, Issue 6, p1425-1443, 19p [Abstract] 

Avoiding Sunstroke:  Assessing National Competitiveness in the Global Solar Race: Results from a Scenario- Planning Workshop at Stanford University

Ferguson, Jean-Paul and Hasan, Sharique; "Specialization and Career Dynamics: Evidence from the Indian Administrative Service"; Administrative Science Quarterly; June 2013, Vol. 58, Issue 2, pp. 233-256 [Abstract] 

Bernstein, Shai; "The Investment Strategies of Sovereign Wealth Funds"; Journal of Economic Perspectives; Spring 2013, Vol. 27 Issue 2, p219-238, 20p [Abstract]

Reichelstein, Stefan; "The Prospects for Cost Competitive Solar PV Power"; Energy Policy; Apr 2013, Vol. 55, p117-127, 11p [Abstract] 

Bloom, Nicholas; "Does Management Matter? Evidence From India"; Quarterly Journal of Economics; Feb 2013, Vol. 128 Issue 1, p1-51, 51p [Abstract] 

Malhotra, Neil; "Poverty and Support for Militant Politics: Evidence from Pakistan"; American Journal of Political Science, Jan 2013, Vol. 57, Issue 1, p30-48 [Abstract]

Wein, Lawrence M., Yang, Yan and van den Broeck, Jan; "Ready-to-use Food-allocation Policy to Reduce the Effects of Childhood Undernutrition in Developing Countries."; Proceedings of the National Academy of Sciences; March 2013; pnas.12160751109 [Paper]

2012

Rao, Hayagreeva; "Echoes of the Past: Organizational Foundings as Sources of an Institutional Legacy of Mutualism"; American Journal of Sociology, 118 (3): pp635-675; 10.1086/667721; Nov 2012 [Abstract]

Sun, Monic; "Informal Payments in Developing Countries' Public Health Sectors"; Pacific Economic Review, April 2012; Vol. 17:4, p514-524 [Research Paper - Informal Payments ]

Rao, Hayagreeva; "Free Spaces as Organizational Weapons of the Weak"; Administrative Science Quarterly, Dec 2012, Vol. 57, No. 4, p625-668 [Abstract]

Whang, Seungjin, "Underlying Consumer Heterogeneity in Markets for Subscription-Based IT Services with Network Effects"; Information Systems Research; Dec 2012 23, Vol 23 (4), p1322-1341 [Abstract]

Bloom, Nicholas, "The Organization of Firms Across Countries"; Quarterly Journal of Economics; Nov 2012, Vol. 127 Issue 4, p1663-1705, 43p. [Abstract]

Bundorf, M. Kate and Levin, Jonathan, "Pricing and Welfare in Health Plan Choice"; American Economic Review; Dec 2012, Vol. 102 Issue 7, p3214-3248, 35p. Faculty Citations Dec 8-14, 2012

Casey, Katherine; "Reshaping Institutions: Evidence on Aid Impacts Using a Preanalysis Plan"; Quarterly Journal of Economics; Nov2012, Vol. 127 Issue 4, p1755-1812, 58p. [Abstract]

Jha, Saumitra, "Does Combat Experience Foster Organizational Skill? Evidence from Ethnic Cleansing during the Partition of South Asia"; American Political Science Review; Nov 2012, Vol. 106 Issue 4, p883-907, 25p. [Abstract]

Beaver, William, "Asymmetry in Earnings Timeliness and Persistence: A Simultaneous Equations Approach"; Review of Accounting Studies; Dec 2012, Vol. 17 Issue 4, p781-806, 26p.Faculty Citations Dec 1-7, 2012

Malhotra, Neil, "Faith or Doctrine? Religion and Support for Political Violence in Pakistan"; Public Opinion Quarterly; Dec 2012, Vol. 76 Issue 4, p688-720, 33p.Faculty Citations Dec 1-7, 2012

Miller, Dale and Monin, Benoit, "Inventing Racist Roads not Taken: The Licensing Effect of Immoral Counterfactual Behaviors"; Journal of Personality & Social Psychology; Dec 2012, Vol. 103 Issue 6, p916-932, 17p.Faculty Citations Dec 1-7, 2012

Jha, Saumitra, "Who has Voice in a Deliberative Democracy? Evidence from Transcripts of Village Parliaments in South India"; November 2012. Abstract - Saumitra Jha

2011

Bowen, Renee, "Forebearance in Optimal Multilateral Trade Agreements"; Nov2011. [Abstract]

Armstrong, Chris, Davila, Tony, Foster, George, Hand, John R.M., "Market-to-Revenue Multiples in Public and Private Capital Markets," Australian Journal of Management; Apr2011, Vol. 36 Issue 1, p15-57. [Abstract]

Jones, Charles I., "Intermediate Goods and Weak Links in the Theory of Economic Development," American Economic Journal: Macroeconomics; Apr2011, Vol. 3 Issue 2, p1-28. [Abstract]

2010

Bloom, Nicholas, Sadun, Raffaella, Van Reenen, John, "Americans Do I.T. Better: US Multinationals and the Productivity Miracle," Dec2010. [Abstract]

Guohua, Jiang, Lee, Charles M.C., Yue, Heng, "Tunneling through Inter-coporate Loans: The China Experience," Journal of Financial Economics; Oct2010, Vol. 98 Issue 1, p1-20.

Barth, Mary E., Landsman, Wayne R., "How did Financial Reporting Contribute to the Financial Crisis?" European Accounting Review; May2010, Vol. 19 Issue 3, p399-423. [Abstract]

Bloom, Nicholas, Van Reenen, John, "Human Resource Management and Productivity," National Bureau of Economic Research Working Paper Series; May2010, Working Paper 16019. [Abstract]

Hausman, Warren, Lee, Hau L., Napier, Graham R. F., Thompson, Alex, Zheng, Yanchong, "A Process Analysis of Global Trade Management: An Inductive Approach," Journal of Supply Chain Management: A Global Review of Purchasing & Supply; April 2010, Vol. 46 Issue 2, p5-29. [Abstract]

Barth, Mary E., "Comments on Panelists," Abacus; Mar2010, Vol. 46 Issue 1, p120-127.

Jones, Charles I., Romer, Paul M., "The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital," American Economic Journal: Macroeconomics; Feb2010, Vol. 2 Issue 1, p.224-245. [Abstract]

Shotts, Kenneth, Wiseman, Alan E., "The Politics of Investigations and Regulatory Enforcement by Independent Agents and Cabinet Appointees," Journal of Politics; Jan 2010, Vol. 72 Issue 1, p209-226. [Abstract]

2009

Lee, Charles M. C., Ng, David, "Corruption and International Valuation: Does Virtue Pay?" Journal of Investing; Winter 2009, Vol. 18 Issue 4, p23-41. [Abstract]

Brady, David and Spence, Michael, "Leadership and politics: a perspective from the Growth Commission," Oxford Review of Economic Policy, Volume 25, Number 2, 2009, pp.205–218. [Abstract]

Bindseil, Ulrich, Nyborg, Kjell G., Strebulaev, Ilya A., "Repo Auctions and the Market for Liquidity,"  Journal of Money Credit and Banking, Vol. 41 Issue 7, p.1391-1421, Oct 2009. [Abstract]    

Lee, Charles, Ng, David, Swaminathan, Bhaskaran, "Testing International Asset Pricing Models Using Implied Costs of Capital," Journal of Financial & Quantitative Analysis; April 2009, Vol. 44 Issue 2, p307-335. [Abstract]

Livne, Gilad, McNichols, Maureen, "An Empirical Investigation of the True and Fair Override in the United Kingdom," Journal of Business Finance & Accounting (Jan-Mar 2009) Vol.36, iss.1-2, p.1-30. [Abstract]

Weber, Klaus, Thomas, L. G., Rao, Hayagreeva, "From Streets to Suites: How the Anti-Biotech Movement Affected German Pharmaceutical Firms," American Sociological Review (Feb 2009) Vol.74, iss.1, p.106-127. [Abstract]

Armstrong, Chris, Barth, Mary E., Jagolinzer, Alan D., Riedl, Edward J., "Market Reaction to the Adoptin of IFRS in Europe," The Accounting Review, forthcoming. [Abstract]

Published Books

Browse the Center for Global Business and the Economy's complete book catalog at The Library

Lee, Hau L. and Chung-Yee Lee, Editors (2006). Building Supply Chain Excellence in Emerging Economies. New York: Springer
Given the physical, social and cultural characteristics of emerging economies, managing supply chains there could be even more challenging than in developed economies. Editors Hau L. Lee and Chung-Yee Lee explore overall global supply frameworks, infrastructure constraints, logistics inefficiencies and use illustrative industrial cases to assist practitioners in gaining insights to the challenges of operating supply chains in emerging economies. Details

Flanagan, Robert J., (2006). Globalization and Labor Conditions. Oxford: Oxford University Press
As a labor economist, Business School Professor Robert Flanagan stays tuned to debates about whether globalization harms workers—their wages, working conditions, and rights. In a new book, Globalization and Labor Conditions (Oxford University Press), he reports evidence that the three major mechanisms of globalization—international trade, migration, and capital flows—benefit workers in general, especially the poorest workers in the poorest countries. While these trends also cause some short-term pain for the least skilled workers in rich countries, Flanagan argues that policies to promote opportunities for low-skilled workers are far better than current efforts to limit immigration. Given the recent controversies surrounding immigration in the United States and Europe, Stanford Business asked Flanagan to summarize the evidence that immigration is important to improving global working conditions and standards of living. Details

Meier, Gerald M. (2004). Biography of a Subject—An Evolution of Development Economics. Oxford: Oxford University Press
Gerald Meier focuses on the evolution of development thought and policy in three periods: early development economics of the 1950s-60s; orthodox reaction of the 1970s-80s; and the new development economics of the 1980s-90s. Meier highlights the influence of development theory on policymaking and on the mixed record of successes and failures in promoting development efforts, interpreting the past treatment of development problems with the present and future in mind. Article on Gerald Meier,

Roberts, D. John (2004). The Modern Firm: Organizational Design for Performance and Growth. Oxford: Oxford University Press
Professor Robert's book was selected by The Economist on December 16th as the best book about business published in 2004:

"The Modern Firm", written by John Roberts, an economics professor at Stanford Business School, lays out in wonderfully lucid and jargon-free language a framework for thinking about corporate structure, given that "any organisation is multifaceted, and the range of organisational variables is mind-boggling". With an economist's discipline, the author introduces the reader as gently as possible to some demanding and stimulating ideas, ones that have already been tested by the likes of BP. Nobody, it can now be said, is fully fit to run a modern firm until they have read "The Modern Firm." Article

McKern, Bruce (2003). Managing the Global Network Corporation. London: Routledge. The increasing importance of changing structures, organization and management within multinational corporations is considered in this book edited by Bruce McKern. The autonomy of subsidiaries, lateral communication flow and the cross-border generation and transmission of knowledge are identified as characteristics of multinational corporations. These issues are considered under four key themes: innovation and knowledge transfer; integrative processes and socialization; adaptation of strategy and firm evolution; and network roles, competencies and organizational forms. Article

McMillan, John (2002). Reinventing the Bazaar: A Natural History of Markets. New York: Norton.
In this book, economics professor John McMillan explored markets ranging from ancient bazaars to eBay and explained what makes or breaks a marketplace. Article