Spotlight on Research 2016

Global Reach. Innovative Programs. Diverse Perspectives.

Schulich Spotlight on Research 2016

The trajectory of research taking place at Schulich is definitely on the rise.

This is evidenced by our increasing success in securing external funding, our impressive research scores in prestigious business school rankings, and our large number of invite presentations and visiting appointments at other top business schools worldwide.

Global Reach. Innovative Programs. Diverse Perspectives.

Contents

Faculty News & Research

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3 Welcome 6 New Schulich Faculty 9 New Full Professors 10 Schulich Fellowship in Research Achievement 12 List of Endowed Chairs and Professorships 14 Newly Funded Projects

18 Features 18 From Then Until Now 24 Ten Questions with Wade Cook 28 Schulich’s Areas of Specialization: Faculty Highlights

24 New & Forthcoming Publications 44 Books 46 Journal Articles

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Schulich’s new Graduate Study and Research Development Building will house several new Centres of Excellence.

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A Message from the Dean

Research: Schulich’s Next Frontier

As Schulich marks its 50th Anniversary, the School is using this milestone event to not only celebrate a half-century of achievements and contributions to management education, but to also look forward to our School’s future development and growth.

One area in particular that is vital to our future development is research. In order to achieve our vision of becoming one of the top business research schools in the world, we know that we must continue to invest in Schulich’s culture of innovation and discovery.

One of the principal ways we will accomplish this is through the construction of a new, world-class Graduate Study and Research Development Building adjacent to our School – part of Schulich’s “Leading Change” initiative established to help lay the foundation for our next 50 years.

The Graduate Study and Research Development Building will house a number of new Centres of Excellence, including the recently announced Brookfield Centre in Real Estate & Infrastructure, which will become the hub of real estate and infrastructure industry outreach, alumni engagement, research, teaching excellence and experiential learning at Schulich. Many of these new Centres of Excellence will be modeled along the lines of Schulich’s Centre of Excellence in Responsible Business. Founded in 2010, the Centre of Excellence in Responsible Business was created to consolidate and enhance Schulich’s leading position among global business schools in addressing the social, ethical and

environmental challenges facing business.

The Centre has since become a global leader in creating and disseminating new knowledge about the social, ethical, environmental and political responsibilities of business, and is one of the largest and most influential academic centres dedicated to triple-bottomline thinking.

Going forward, our plan is to create a number of additional Centres of Excellence in areas where our School has achieved global leadership – areas such as Real Estate & Infrastructure, for example, where we will collaborate with leading global real estate asset managers such as Brookfield as well as large institutional investors in order to explore the most effective ways to facilitate the massive infrastructure developments this country and the rest of the world will need in the decades ahead. Our new Centres of Excellence will also be built around functional areas such as Customer Experience and Business Analytics where our School has deep faculty expertise and is regarded as a thought leader.

research that can help influence the strategies and policies adopted by business, government and nonprofit sector leaders around the world.

Over the past 50 years, we have successfully pioneered degree programs in new and emerging fields of business – everything from business ethics, sustainability and real estate in the early 1990s, to business analytics and global retail management more recently. If Schulich wishes to remain at the forefront of management education in the decades ahead, we will need to focus more resources on research in the fields where our School can make a significant contribution.

For us at Schulich, research is the next frontier that will help shape our future.

Sincerely,

DEZSÖ J. HOR VÁTH, PHD, CM Dean & Tanna H. Schulich Chair in Strategic Management Schulich School of Business

We intend to invest heavily in these various clusters of research specialization, and we believe Schulich’s new Centres of Excellence will become vital sources of cutting-edge

Spotlight on Research 2016 3

A Message from the Associate Dean, Research

The impact and reach of Schulich’s research continues to grow

This year’s edition is a special issue dedicated to the School’s 50th Anniversary. To commemorate this landmark event in our history, we wanted to provide a retrospective look at some of the many research highlights from the past five decades, while also showcasing a wide cross-section of the exciting research work taking place at Schulich today.

We lead off the 2016 issue with a feature profile of Wade Cook, Professor of Operations Management and Information Systems and Gordon Charlton Shaw Professor of Management Science at Schulich. Wade was recently named one of the top five researchers in the world in his field of Data Envelopment Analysis (DEA). In the article, Wade talks about his prolific career, some of the academics who have inspired and influenced him over the years, as well as his philosophy regarding research. I would be remiss if I did not also point out the Schulich Research Newsletter was first developed by Wade, who served as Associate Dean, Research at Schulich for more than a decade, and who tirelessly encouraged and promoted the research work of his colleagues here at the School.

One of the hallmarks of the research carried out at Schulich is real-world relevance. You will see much of that in the faculty profiles inside our newsletter, where Schulich researchers discuss their work and their research interests in a highly accessible and engaging Q&A format. We profiled faculty members from all of the departments across the School, including: Chris Bell, Associate Professor of Organization Studies, who is researching issues related to perceptions of fairness in discipline and ethical leadership; Peter Darke, Professor of Marketing, who is studying the emotional, motivational and cognitive aspects of consumer

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judgment and decision making; Burkard Eberlein, Associate Professor of Strategic Management/Policy, who is seeking to break new ground in the study of the businessgovernment and business-society nexus; Irene Henriques, Professor of Economics, who is currently studying the role firms play in reducing or fostering income inequality, as well as the relationship between renewable energy and indigenous peoples of Canada; Mark J. Kamstra, Associate Professor of Finance, who is pursuing two main streams of research currently – empirical asset pricing and his ongoing work on how seasonality and investor moods affect the financial markets; Moren Lévesque, Professor of Operations Management and Information Systems and Chartered Professional Accountants of Ontario Chair in International Entrepreneurship, who specializes in research in entrepreneurship, most of which is based upon formal, mathematical modeling; and Amin Mawani, Associate Professor of Accounting, who is examining methodologies that attempt to show value for money spent when investing in new technologies and/or processes. All in all, the profiles provide a window onto the richly diverse and innovative research taking place within the walls of the Schulich School.

Since first joining the Schulich School of Business in 1987, I have witnessed a steady increase in research activity over the past three decades. The honours and awards won by our faculty, together with the impact and reach of their research, all continue to grow. What is perhaps most exciting for me is the high degree of collaboration taking place among faculty members today, and the willingness of faculty members to tackle new and emerging issues in management, bringing a wide range of expertise and diverse perspectives to the issues they are tackling. When Corporate Knights named Schulich the number one school in the world in the area of research related to Responsible Business, the magazine noted that the School had “a heavy sustainability research focus among the faculty at large.” This augurs well for Schulich going forward as the School looks ahead to the next 50 years and the opportunity to continue making lasting contributions to management theory and practice.

Sincerely,

CHRISTINE OLIVER

As this issue clearly demonstrates, academics from all areas of the Schulich faculty continue to write the future of leading-edge scholarship.

Professor of Organization Studies & Henry J. Knowles Chair in Organizational Strategy Associate Dean, Research Schulich School of Business

Faculty News & Research

New Schulich Faculty

YELENA LARKIN

Yelena Larkin is an Assistant Professor of Finance at the Schulich School of Business.

Prior to joining York University, Larkin was an Assistant Professor of Finance at Pennsylvania State University. She obtained her PhD in finance from the Johnson School of Management at Cornell University. Throughout her career, Yelena has taught finance courses at several well-known universities around the world, including Cornell University, Pennsylvania State University, and the Hebrew University of Jerusalem. Before starting her academic career, Yelena worked as an investment analyst at various regulatory and private institutions, including the World Bank and the Bank of Israel.

Assistant Professor of Finance

Yelena’s primary interests are in the area of empirical Research Keywords

corporate finance, with

• • • •

particular focus on product

Product Markets Financial Policy Mergers and Acquisitions Human Capital

markets and financial policy.

Yelena’s primary interests are in the area of empirical corporate finance, with particular focus on product markets and financial policy.

Through her research, she studies how the nature of firms’ products and services, as well as the competitive landscape of industries in which they operate, affect financial and investment decisions. Yelena has published her work at top finance journals, and her research has been cited by media sources around the world, including The Wall Street Journal, and U.S. News & World Report. Yelena has delivered numerous academic presentations at the most prestigious conferences in her field, such as the AFA and the WFA Annual Meetings, as well as UBC Finance and FSU SunTrust Conferences. Yelena has served as an ad hoc referee for finance and management journals, including top-tier journals such as Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Management Science, and the Journal of Financial and Quantitative Analysis.

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Research Projects Yelena’s research examines the link between product market environment and financial and investment decisions of firms. She is currently working on a number of projects that study the intangible aspects of firm production and management, product market competition, and characteristics of mergers and acquisitions.

In her most recent project, Yelena and her co-authors examine the evolution of product market competitiveness and demonstrate that despite popular beliefs, U.S. markets have become more concentrated over the past two decades. To arrive at this conclusion, Yelena shows that the number of publicly-traded firms has plummeted, while the remaining ones have become the dominant ones in the industry.

Moreover, firms that operate in industries with the largest increase in concentration have enjoyed higher profit margins, positive abnormal stock returns, and more profitable merger deals. Taken together, Yelena’s findings demonstrate that the U.S. industrial landscape is dominated by a small number of large firms that have been enjoying increased market power, wider profit margins and better investment opportunities through merger deals. At a broader level, her findings suggest that the nature of U.S. product markets has undergone a structural shift that has potentially weakened competition.

Yelena has also developed an interest in the area of mergers and acquisitions while working on a project that examines the degree of similarity between the products and technologies of bidding and target firms.

Although existing literature suggests that the likelihood of a merger is higher when two firms are more similar to each other, this project documents an interesting phenomenon: many times, target firms settle for the second best bidder, instead of waiting for a better offer from a more suitable bidder. To understand this puzzle, Yelena and her co-author have developed a model that demonstrates under which conditions targets choose to settle for a less complementary bidder instead of waiting for a more suitable match. They also test the hypotheses of the model empirically, and show that the degree of merger complementarity is related to industry competition, the target’s risk of becoming obsolete, and its visibility to potential bidders. ◆

ALBERT TSANG Associate Professor of Accounting

Research Keywords • • • •

Voluntary Disclosure Corporate Social Responsibility International Accounting International Financial Reporting Standards

Albert Tsang is an Associate Professor at the Schulich School of Business since 2015. He earned three Master’s degrees (M.Sc. MIS; M.Sc. Acct; MBA) and a PhD degree in accounting from the University of Texas at Dallas. He is a pioneer scholar and researcher in the field of corporate social responsibility reporting in accounting. His research focuses on voluntary disclosure, which includes both financial and non-financial disclosure, international accounting, and International Financial Reporting Standards (IFRS). His research has been published in The Accounting Review, Review of Accounting Studies, Journal of Business Ethics, Journal of Accounting and Public Policy, Journal of Management Accounting Research and numerous other accounting journals. He also serves as reviewer for more than 20 major accounting journals in the area of corporate social responsibility and international accounting. Prior to joining academia, Albert gained extensive experience in accounting and finance and had worked as an accounting manager in publicly listed multinational corporations in multiple countries.

Albert defines himself as a corporate reporting empiricalist. His research focuses on both voluntary financial and non-financial disclosure.

Research Projects Albert defines himself as a corporate reporting empiricalist. His research focuses on both voluntary financial and non-financial disclosure.

For voluntary financial disclosure, he has several working papers examining the effect of country-level institutional variables on the issuance, properties and informativeness of management forecasts voluntarily issued by the firms around the world. One of his working papers, which examines the effect of management forecasts in affecting cost of equity capital, has recently been conditionally accepted by the Review of Accounting Studies.

In this study, he and his co-authors examine the international differences in the effect of management forecasts on the cost of equity capital across 31 countries. The study finds that the issuance of management forecasts is associated with a lower cost of equity capital worldwide, but that the effect of management forecasts on the cost of equity is conditional on country-level institutional factors. Specifically, management forecasts have a stronger effect on the cost of equity capital in countries with stronger investor protection and with better information dissemination, and a weaker effect in countries with higher mandatory disclosure requirements. For voluntary non-financial disclosure, he has published several papers on corporate social responsibility reporting during the last few years. Currently in one of his working papers, he examines the capital market consequence of having CSR reporting assured by external third parties. Albert also has a strong research interest on the mandatory adoption of IFRS. Currently, he has two working papers on the effect of IFRS adoption on corporate decision making, including firms’ cross-listing decisions and firms’ voluntary disclosure practices. ◆

Spotlight on Research 2016 7

New Schulich Faculty cont’d

Ela Veresiu is an Assistant Professor of Marketing at the Schulich School of Business.

She earned her doctorate in Marketing at Witten/Herdecke University in Germany. Her research focuses on understanding the political dynamics of markets and consumption, and how value and legitimacy are created in complex institutional systems. Ela’s research, which has been funded by the European Research Council and the Schulich School of Business Dean’s Research Fund, is published in the top-tier Journal of Consumer Research, and is currently under review at the Journal of Marketing, Marketing Theory, and the Journal of Consumer Research.

ELA VERESIU Assistant Professor of Marketing

Research Keywords • • • •

Consumption Culture Institutional Change Market System Dynamics Public Policy / Social Issues

She is also the co-founder of an industrybased research think tank called the Big Design Lab. Together with her Schulich colleague, Markus Giesler, the lab works with companies, nonprofits, and government organizations to generate dialogue, insight, and strategy in the domains of customer experience design and market creation.

Ela’s work has been profiled by major news outlets including Fast Company, Pacific Standard, The Baffler, The Globe and Mail, Huffington Post, and the CBC.

Ela’s research focuses on understanding the influence of multiple institutions such as the global political economy, national governments, nonprofit organizations, and commercial businesses on creating new markets and consumption systems.

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Research Projects Ela’s research focuses on understanding the influence of multiple institutions such as the global political economy, national governments, nonprofit organizations, and commercial businesses on creating new markets and consumption systems.

For example, one research project, currently under review at the Journal of Consumer Research, provides an institutional analysis of political mythmaking in Canada. The research paper unpacks market-based multiculturation strategies through which market and political actors collaborate to manage population diversity by creating an ethnic consumer subject. In the current global climate characterized by increased population mobility, ethnic consumers have become a central concern. Rather than prioritizing the experiences of individual consumers, this paper focuses on developing a theorization that explains how the political ideology of multiculturalism influences citizens’ consumer behaviour. This study contributes to extant scholarship on ethnic consumers, consumer subject formation, and the role of neoliberalism in shaping markets and consumers.

A second managerially-oriented project, intended for the Journal of Marketing, expands on the process of “strategic image management” – defined by Kotler, Haider and Rein (1993) as the ongoing efforts of designing a place’s image to help attract potential investors and visitors – to understand how historically controversial sites can be effectively designed and managed. Findings from a longitudinal investigation of the Obersalzberg Alpine resort in Germany, a historical servicescape previously dubbed “Hitler’s Hill”, suggest that commercial places’ images go through phases of perpetual structural instability. In each phase disruptive consumers or entrepreneurs promoting negative countermemories can destabilize existing positive popular memories promoted by marketers. Four place marketing realignment strategies are offered to help marketers sustain the commercial success of historical servicescapes in a complex collective memory context. These findings contribute to the management of disruptive stakeholders, place marketing, and the strategic management of legitimation. ◆

New Full Professors

MELANIE CAO Professor of Finance

JEFF EVERETT Professor of Accounting

Melanie Cao is a Professor of Finance at the Schulich School of Business. Her research interests are equilibrium asset pricing, derivatives valuation, initial public offerings, corporate finance – bank loans, financial market liquidity, and executive compensation.

She has received various research grants from SSHRC and Mitacs. Her most recent grant of $240,000 from Mitacs is to study the credit ratings for small and medium enterprises.

Prior to joining in Schulich, she worked for the world’s largest futures exchange, the Chicago Mercantile Exchange (CME). As a senior director for financial product development at the CME, she was responsible for designing the exchange-traded weather derivatives. Since then, Melanie has consulted for the CME and other organizations.

Melanie received her PhD in finance in 1997 from Rotman School of Management at the University of Toronto. She has taught various finance courses at Queen’s University and York University and is well liked by her students for her enthusiasm and effectiveness in the classroom. She has been nominated for a teaching award by MBA students at Schulich.

• • • • • • •

Jeff Everett is a Professor of Accounting at the Schulich School of Business. He joined York University in 2011 as an Associate Professor, having previously worked in the Haskayne School of Business at the University of Calgary and the Australian School of Business at the University of New South Wales in Sydney, Australia.

He has been published in many accounting journals, including Accounting, Organizations and Society; Contemporary Accounting Research; Accounting, Auditing and Accountability Journal; European Accounting Review; Accounting Perspectives; Critical Perspectives on Accounting; Business and Society Review and the Journal of Business Ethics.

Jeff has taught courses in financial accounting, management accounting, and accounting theory, as well as graduate research seminars in accounting.

In his spare time, Jeff enjoys rock and ice climbing, skiing, snowboarding, sailing, scuba diving, adventure motorcycle touring, cycling, and yoga. He is also a budding guitarist, a keen follower of local and national politics, and is a licensed CPA.

His past and present research areas include the impact of accounting on public policy, the role of accounting in reformulating and structuring social spaces, enhanced reporting models (e.g., GRI, TBL), fraud and corruption, internal audit, accounting ethics, and research epistemology. One of his current research projects is examining how religion, and especially Protestant Christianity, affects the identities, actions, and ethics of professional auditors. Another project is looking at the role and efficacy of accounting academics in influencing policy debates, and the responsibility they have to make their research more socially relevant.

Research Keywords Asset Allocation Asset Pricing Corporate Finance Derivative Securities Employee Stock Options Executive Compensation Market Microstructure

Research Keywords • • • • • •

Accounting Theory Professional Ethics Fraud and Forensic Accounting Corporate Disclosure Corporate Social Responsibility Sustainability

Spotlight on Research 2016 9

Schulich Fellowship in Research Achievement

The Schulich Fellowship in Research Achievement is awarded annually to a small number of Faculty members at the Schulich School of Business. These fellowships provide a release time from teaching as well as funds to support research. The intention of these awards is to free up research time, and thus enhance the holder’s research productivity.

DEAN NEU Professor of Accounting

How does the business of extortion work? And why is this topic important for accounting and business scholars to study? As part of my SSHRC-funded and Schulich-funded program of research on ‘organized illegal activity’, I have spent the last year studying the extortion practices of two street gangs – Mara Salvatrucha and Barrio 18 – in the Northern Triangle countries of El Salvador, Guatemala and Honduras. In this part of the world, extortion and the violence that accompanies it are major problems with estimates suggesting that the extortion economy generates more than $650 million in revenues annually. The Northern Triangle is currently one of the most dangerous places on earth, with per capita homicide rates almost 100x higher than Canada. In 2015, for example, the per capita homicide rate for El Salvador was the highest in the world.

Initial appearances to the contrary, the business of extortion is a type of economic game where accounting is important. Simply put, extortion involves a series of threats centered around the assets of a business or individual. This game of threats involves identifying assets and making them fragile; making people believe that one or more of their assets are at risk. To successfully accomplish extortion, street gangs invest in infrastructures of violence so that they are able to make credible threats. They also invest in infrastructures of information since it is

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necessary to identify assets, determine the value of the assets to the extortion target, and calculate an extortion amount. In all but the simplest forms of extortion, these activities involve the gathering and use of proxies for asset value. These proxies are second-best solutions in a world where information asymmetries exist regarding the value of assets.

The research findings are relevant to policymakers in the Northern Triangle, who are struggling to solve the seemingly intractable problems of extortion and violence. However, they are also relevant to governments and taxation authorities worldwide. On the surface, this juxtaposition seems nonsensical in that extortion is illegal and seemingly quite different from routinized tax collection activities.

However, on closer examination, the sequential processes of identifying assets, determining a value for these assets, calculating the monies owing, and making the assets fragile are similar, yet different, from taxation processes. Successful extortion and taxation both require knowledge and control of the territory to be extorted/taxed.

What differs are the information proxies, agents, and threats used to make assets fragile and hence to successfully collect extortion/taxation monies. From this vantage point, juxtaposing extortion and taxation processes draws attention to the role of proxies, effort and threats within both extortion and tax collection practices.

MARKUS GIESLER Associate Professor of Marketing Area Coordinator, Marketing

My Schulich Fellowship has been instrumental in supporting a series of in-depth empirical studies − all currently under review at the Journal of Marketing and the Journal of the Association for Consumer Research – investigating the role of affective regulation in the legitimation of platform markets. By facilitating exchanges between two or more interdependent parties, platform markets like Uber, Airbnb, or Task Rabbit invariably shift risks from institutions to individual consumers.

As such, they also foster new “feelings of uncertainty, discomfort, or anxiety” among consumers. Uber, for example, has sparked widespread cultural and consumer anxieties and national news media coverage related to ride safety, privacy, discrimination, and surge pricing.

To address these issues, my co-authors, Ela Veresiu at Schulich and Ashlee Humphreys at Northwestern, and I theorize platform legitimation as an affective process. In this framing, a platform is regarded legitimate to the degree to which consumers can be

MARY WALLER Professor of Organization Studies Director, Schulich Centre for Teaching Excellence

My program of research concerns team dynamics in critical situations. Over the past two decades, my previous studies of aviation flight crews, nuclear power plant crews, seaport crisis teams, mine rescue teams, and other types of teams have consistently suggested that such well-trained, well-prepared teams show little variation in performance during the portions of critical situations that are very complex but well-understood or expected; however, team performance can differ greatly during situations that are unexpected, ambiguous, or non-routine. In order to better understand why this difference occurs, during my research fellowship year I concentrated intently on understanding more about emergent states in teams.

Emergent states are phenomena in teams that arise after team members interact for a certain period of time − states such as trust, affect, shared cognition, or routines − that can greatly influence team outcomes. On the surface, a collection of teams may seem to be very similar; they may have the same number of members, and may have successfully completed the same amount of team training.

During routine situations, the emergent states of these teams may remain dormant or not play a significant role in team performance.

However, during critical situations that are unexpected, non-routine, and thus extremely stressful, emergent states such as trust or emotion may be catalyzed and play important roles in team functioning.

acculturated into a structure of empathy.

We introduce the process of consumer empathization, which theoretically parallels Carolyn Pedwell’s sociological investigation of empathy, and examine the ways it helps to manage risk in legitimation. We define consumer empathization as a fourfold process of affective legitimation (apathization, verification, prototyping, and contracting) through which a network of empathetic relationships between producers and consumers is established and a consumer risk is contained.

This theoretical formulation, which is based on an in-depth ethnographic analysis of Uber’s ride-hailing platform, (1) calls attention to the strategic role of emotions in platform legitimation; (2) offers insights into how companies can more effectively manage platform-based consumer risks; and (3) provides managers with conceptual instruments for sustaining a strong and enduring platform business over time.

In order to explore these ideas, along with my co-authors Gerardo Okhuysen (University of California, Irvine) and Marzieh Saghafian (Schulich School of Business), I reviewed existing work on emergence from the complex systems literature. Based on our review of this classic literature that spans many decades, we created a framework for examining emergence in teams. We then collected over 1,000 research articles in the group and team dynamics literature and carefully examined them for evidence concerning emergent states.

Our work suggests that although research on team dynamics has addressed the influence of emergent states, it has done so in a mostly incomplete, static, linear, and piecemeal fashion that has not added significantly to our understanding of the differences among teams facing dynamic situations. We are delighted that our paper, “Conceptualizing Emergent States: A Strategy to Advance the Study of Group Dynamics,” is forthcoming in Academy of Management Annals, currently the highest-ranking management journal. In our article, we suggest several ways in which researchers can leverage nonlinear techniques and other methodologies to better detect and track the trajectories of emergent states, and build more complete understanding regarding how emergent states influence team outcomes in dynamic, critical situations. ◆

Spotlight on Research 2016 11

List of Endowed Chairs and Professorships

Ann Brown Chair of Organization Studies (Established in 2010)

CIT Chair in Financial Services (Established in 1998)

CHARLENE ZIETSMA

JAMES DARROCH

BA (Wilfrid Laurier); MBA (Simon Fraser); PhD (University of British Columbia) Associate Professor of Organization Studies Director of Entrepreneurial Studies

BA & MA & PhD (Toronto); MBA & PhD (York) Associate Professor of Policy Area Coordinator, Policy / Strategy Director, Financial Services Program

Anne & Max Tanenbaum Chair in Entrepreneurship and Family Enterprise (Established in 1999)

Bell Media Professorship in Media Management (Established in 2002)

EILEEN FISCHER

DOUGLAS BARRETT

BA & MASc (Waterloo); PhD (Queen’s) Professor of Marketing Director, PhD Program

BA Hons (York); MSc (Syracuse); LLB (Dalhousie) Visiting Scholar in Broadcast Management

Bob Finlayson Chair in International Finance (Established in 2011) KEE-HONG BAE

Erivan K. Haub Chair in Business and Sustainability (Established in 1993)

BS & MS (Korea); PhD (Ohio State) Professor of Finance

Chair pending

Canada Research Chair in Entrepreneurial Innovation and the Public Good (Established in 2014)

Export Development Canada Professorship in International Business (Established in 2011)

THEODORE J. NOSEWORTHY

BA (Wilfrid Laurier); MA (Essex, UK); MIM (Thunderbird); PhD (UWO) Associate Professor of Organization Studies and International Business, Director, Centre for Global Enterprise

MBA, MSc (University of Guelph); PhD (Ivey, Western) Associate Professor of Marketing, Scientific Director of the NOESIS: Innovation, Design, and Consumption Laboratory

CPA Ontario Chair in International Entrepreneurship (Established in 2011) MOREN LÉVESQUE BSc & MSc (Laval University); PhD (University of British Columbia) Professor of Operations Management and Information Systems

LORNA WRIGHT

George R. Gardiner Professorship in Business Ethics (Established in 1992) ANDREW CRANE (until June 2016) BSc (Warwick, UK); PhD (Nottingham, UK) Professor of Policy / Strategy Director, Centre for Excellence in Responsible Business

Chair in Business History (Established in 2003)

Gordon Charlton Shaw Professor of Management Science (Established in 2003)

MATTHIAS KIPPING

WADE D. COOK

MA (Sorbonne, France); MPA (Harvard); Dipl. (EHESS, France); DPhil (München, Germany) Professor of Policy / Strategy

BSc (Mt. Allison); MSc (Queen’s); PhD (Dalhousie) Professor of Operations Management and Information Systems

CIBC Professorship in Financial Services (Established in 1994) GORDON S. ROBERTS BA (Oberlin College); MA & PhD (Boston College) Professor of Finance

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Henry J. Knowles Chair in Organizational Strategy (Established in 2002) CHRISTINE OLIVER BA (Queen’s); MBA & PhD (Toronto) Professor of Organization Studies Associate Dean, Research (until June 2016)

Hewlett-Packard Canada Chair in Corporate Social Responsibility (Established in 2003) DIRK MATTEN

Pierre Lassonde Chair in International Business (Established in 1997)

Dipl.-Kfm. (Essen, Germany), Dr.rer.pol. & Dr.habil. (Düsseldorf, Germany) Professor of Policy / Strategy Associate Dean, Research (since July 2016)

PREET AULAKH

Inmet Chair in Global Mining Management (Established in 2013)

Ron Binns Chair in Entrepreneurship (Established in 2010)

RICHARD ROSS

GEOFFREY KISTRUCK

BCom (Toronto), CPA Director, Global Mining Management

BA (Western); MBA (McMaster); PhD (Western) Associate Professor of Entrepreneurial Studies

Jarislowsky-Dimma-Mooney Chair in Corporate Governance (Cross-appointed to Osgoode Hall Law School) (Established in 2005) EDWARD J. WAITZER LLB & LLM (Toronto) Professor of Policy / Strategy

Kraft Foods Canada Chair in Marketing (Established in 2004) (formerly Nabisco, founded in 1985) RUSSELL BELK BS & PhD (Minnesota) Professor of Marketing University Distinguished Professor (York)

Newmont Mining Chair in Business Strategy (Established in 2003) JUSTIN TAN BBA (Tianjin, China); MA (Kansas); PhD (Virginia Tech) Professor of Policy / Strategy

Nigel Martin Chair in Finance (Established in 1996) ELIEZER Z. PRISMAN BA (Hebrew, Israel); MSc & DSc (Technion, Israel) Professor of Finance

BSc & MA (Punjab, India); PhD (Texas-Austin) Professor of Policy / Strategy and International Business

Royal Bank Professor of Nonprofit Management (Established in 1997) BRENDA GAINER BA Hons (Alberta); MA (Carleton); MBA (Maine); PhD (York) Associate Professor of Marketing Director, Social Sector Management Program

Scotiabank Chair in International Finance (Established in 2013) LILIAN NG BBA (National University of Singapore); MBA (Binghamton, NY); PhD (Pennsylvania) Professor of Finance

Scotiabank Chair in International Business and Entrepreneurship (Established in 1998) ANOOP MADHOK BCom (Calcutta, India); MBA (Cincinnati); MA (Johns Hopkins); PhD (McGill) Professor of Strategic Management / Policy

Tanna H. Schulich Chair in Strategic Management (Established in 1996) DEZSÖ J. HOR VÁTH, CM Electrical Eng (Malmö, Sweden); MBA & PhD (Umeå, Sweden) Dean, Schulich School of Business Professor of Policy / Strategy

Ontario Research Chair in Economics & Cross Cultural Studies: Public Policy and Enterprise Competitiveness (Established in 2005) DOUGLAS CUMMING BCom Hons (McGill); MA (Queen’s); JD & PhD (Toronto); CFA Professor of Finance and Entrepreneurship

Spotlight on Research 2016 13

Newly Funded Projects Schulich researchers continue to successfully secure external funding from Canada’s Federal Tri-council agencies. The Tri-council agencies are the major source of funds for research and scholarship within Canadian academic institutions. Schulich faculty members primarily receive funding from The Social Sciences and Humanities Research Council (SSHRC) and The Natural Sciences and Engineering Research Council (NSERC).

Natural Sciences and Engineering Research Council of Canada (NSERC)

NSERC ENGAGE GRANT

NSERC ENGAGE GRANT

Developing a Social and Trust-Based Book Recommender System for Indigo

Enabling Data Management for Big Data Business Analytics for Sphere3D using Context-Aware Ontologies

Principal Investigator: Henry Kim

Principal Investigator: Henry Kim

Indigo is Canada’s largest book, gift, and specialty toy retailer, operating stores in all 10 provinces and one territory in Canada and offering online sales through its indigo.ca website. As of March 28, 2015, the Company operated 91 superstores under the banners Chapters and Indigo and 127 small format stores under the banners Coles, Indigospirit, SmithBooks, and The Book Company. The Company also has a 50 per cent interest in Calendar Club of Canada Limited Partnership (Calendar Club), which operates seasonal kiosks and year-round stores in Canada.

Sphere3D Corporation is a leading global virtualization and data management software solutions company, publicly listed on the NASDAQ Exchange. Its keystone offering is the Glassware 2.0 platform, which delivers virtualization of applications and enables movement of applications from a physical PC or workstation to a virtual environment on premises and/or from the cloud. Sphere3D seeks to innovate upon its products and services offerings in the current and future business context of Big Data availability, and growth in the analytics software market. The business analytics challenge for Sphere3D is to prepare its clients’ data for ready business analytics. Inasmuch as its Glassware 2.0 platform enables device and location independent application use, there is value in considering a parallel paradigm for data; that is, how it can enable similar device- and locationindependent data analytics. The key for this capability may lie in designing context-awareness – not just device and location independence – into how the data are collected, federated, and prepared for analytics. This is the challenge that we aim to address in this project.

Indigo seeks to innovate upon its products and services offerings by leveraging state-of-the-art business analytics capabilities. To that end, they are designing a recommender system that will match potential customers and human recommenders, and match customers’ preferences to other’s reading lists. What this entails – incorporating social and trust based capabilities into traditional recommender system capabilities – is the focus of this proposed NSERC Project.

14 Schulich School of Business

Social Sciences and Humanities Research Council (SSHRC)

SSHRC INSIGHT GRANT

Designing Effective Negotiation Teams Principal Investigator: Kevin Tasa Collaborator: Mary Waller Negotiations are often carried out by teams with clearly defined roles. Despite the ubiquity of negotiation teams in business negotiations, research on the topic is modest in comparison to research focusing on individuals. Remarkably, despite the prevalence of negotiating teams and the significant outcomes such teams can advance for organizations, relatively little is known about the within-team dynamics that support or challenge their ability to plan, create, coordinate, and execute a rational across-the-table bargaining strategy.

Very often, the biggest challenge these teams face is not the negotiation with the other side; instead, negotiating teams report the greater challenge usually comes from their own side of the table. Too often, team members sabotage their own team’s efforts, fail to create a unified front, and generate conflict regarding the goal of the negotiation. Research contains few answers to questions about the inner workings of negotiation teams. Therefore, the objective of this research program is to examine the internal dynamics of negotiating teams and formulate practical techniques for managers and negotiating team leaders who wish to create effective teams.

SSHRC INSIGHT DEVELOPMENT GRANT

Does Executive Compensation Change in Response to Changes in Personal Tax Rates?

Principal Investigator: Amin Mawani The executive labour market is considered to be reasonably competitive, in part because it is generally more mobile than rank-and-file labour. Prior to 2010, tandem stock appreciation rights (TSARs) offered the best of both worlds: a full deduction for the TSAR to the employer and a half exclusion for the employee. The federal budget of March 4, 2010 announced that employers and employees would henceforth have to choose one or the other, and could not access both.

In other words, either the employer could enjoy the tax deduction for the cash benefit paid out under TSAR or the employee could enjoy the half inclusion, but both could no longer be accessible simultaneously. Assuming that employers retained their tax deduction, this budget provision effectively increased the tax rate on TSARs and therefore reduced the executives’ after-tax compensation.

My first research question is whether executives’ total compensation or option compensation went up in post2009 years as a result of the tax increase on the employees.

My second research question is whether the executives’ compensation paid in the form of equity changed in the post-2009 period.

The results of this study will contribute to the literature on whether executive pay reacts to changes in executives’ personal tax rates, and hence their relative bargaining power and the mobility of senior management. In general, capital is considered to be mobile and labour not as mobile. However, senior management may be regarded as being somewhere in between pure labour and pure capital, as suggested by the capital-like tax treatment of their compensation packages (i.e., equity portion of compensation taxed at lower capital gains tax rates). The results of this study could influence employers’ compensation practices − both the amount and the form of senior management’s pay packages − in a globally competitive market for senior management talent.

SSHRC PARTNERSHIP DEVELOPMENT GRANT

Social Impact Research Lab Principal Investigator: Geoffrey Kistruck The Social Impact Research Lab (SIRlab) is a newly formed partnership based at the Schulich School of Business. It is a collaborative effort comprised of three primary types of actors: 1. Strategic management scholars from developed country institutions (e.g., Canada, the U.S., etc.) that possess a passion for designing and pilot testing theoretically-based improvements to poverty alleviation models; 2. Management scholars from developing country institutions (e.g., Ghana, Tanzania, etc.) that possess a desire to strengthen their knowledge of current management theories and combined qualitative and quantitative research methodologies in the context of poverty alleviation; and 3. Non-profit organizations and social enterprises (e.g., CARE, Technoserve, Accion, etc.) that are willing to acknowledge shortcomings in their existing programming, and to experiment with potential solutions in order to achieve greater impact and efficiency in the scaling of their overall efforts. Thus, the overarching goal of the SIRlab partnership is to build stronger networks between both academic and non-academic audiences from diverse contexts for the direct sharing and co-creation of knowledge with regard to the role of business in poverty alleviation.

Spotlight on Research 2016 15

Newly Funded Projects cont’d Other External Grants

MITACS GLOBALINK RESEARCH

Survey on the Culture of Lawfulness Principal Investigator: Andrew Crane

CANADIAN ACADEMIC ACCOUNTING ASSOCIATION RESEARCH

Implicit Taxes and Canadian REITs Principal Investigator: Amin Mawani

The purpose of this research project is to better understand the relationship between firms and the “culture of lawfulness”, which is comprised of the factors in the environment that impact the success of the rule of law. The context of this research is Mexico, a country in which the culture of lawfulness is known to make the undermining of the rule of law, or rule breaking, taken for granted as an unquestioned and accepted part of conducting business.

Research on rule-breaking in management research tends to focus on its explicit manifestations through study of phenomenon such as corruption in which bribery and extortion become commonplace as a means to conduct business. In this project, we intend to study why rule-breaking occurs at a more basic level by examining the societal and cultural factors that create a tolerance for rule-breaking.

A study of what underlies rule-breaking will further the understanding of how its visible manifestations such as corruption become systemic in the business environment and firms. Furthermore, it will allow for examining how rule-breaking is perceived by firms, and accordingly, what affect it has on their behaviour and outcomes.

CANADIAN SECURITIES INSTITUTE RESEARCH FOUNDATION

Limited Term Professorship

Real Estate Investment Trusts (REITs) make distributions in the form of Return on Capital and Return of Capital, with the former taxed more heavily than the later.

This study will examine whether publicly traded Canadian REITs that distribute relatively more of the tax-disfavoured Return on Capital and relatively less of the tax-favoured Return of Capital offer higher pre-tax returns compared to other REITs in an efficient market. I have collected distribution data for all publicly traded Canadian REITs over the 20022014 period. I will examine whether pretax returns over a one-year holding period are positively associated with the average taxation of the annual distribution made by the REIT and the interaction of the tax inclusion rate (or the proportion of the return that is currently taxable) and levels of market risk.

If tax-favoured Return of Capital is found to be associated with lower pretax returns, then investors may not want to hold them in tax shelters such as RRSPs and TFSAs.

CENTRAL EUROPEAN UNIVERSITY

“Educating for Integrity” Conference Organizing Grant from the Central European University Principal Investigator: Wesley Cragg

Principal Investigator: Mark Kamstra Mark Kamstra’s research interests focus on two areas: valuation using discounted cash flow techniques and the variation of returns to investments due to predictable fluctuations in investor mood/sentiment and investor risk aversion. An objective of Kamstra’s research during his term professorship with the Canadian Securities Institute Research Foundation is to test for variation in fundamental value resulting from changes in investor risk aversion, and to evaluate deviations from fundamental prices caused by investor sentiment. The results of this research will bear importantly on the determination of appropriate policy reactions to extreme events in financial markets.

16 Schulich School of Business

This grant is from Siemens, the German multinational via the Central European University to organize a conference on “Educating for Integrity” that was held at York University in November, 2015. The conference brought together scholars, business, government, and voluntary sector leaders from North and Central America to examine and discuss the issue of corruption and bribery; how to effectively address the challenges it poses for business and the economy through education and the development of courses and training on the part of business schools, institutions of higher education generally; and executive training on the part of universities, professional organizations and associations and corporations. ◆

Features

From Then Until Now A Half-Century of Research Excellence and Innovation

18 Schulich School of Business

1960s

1965

1966

1967

• Schulich establishes a Division of Research and E.J. Spence, one of the School’s original faculty members, is appointed Director.

• The Toronto Stock Exchange commissions Schulich to undertake an in-depth study of the supply and demand for Canadian equities.

• Schuilch’s Arts & Media Administration MBA specialization is established in 1969, the first in Canada – and the first of numerous industry-specific MBA specializations to follow in the decades ahead.

1968

1969

1970s

1971 1972 1973

• Schulich’s PhD program is established (1971).

• The Joint MBA/JD program, the first of its kind in Canada, is established (1972).

• Founding Dean James Gillies, an economist and expert in businessgovernment relations, is appointed Senior Policy Advisor to the Prime Minister of Canada, The Right Honourable Joe Clark (1979).

• Founding Dean James Gillies succeeds in winning a grant worth $100,000 from the Ford Foundation in 1969 that is then matched by corporate donations, making York’s new business school one of the first in North America to receive funding from the Ford Foundation. The funds are made available to any faculty member with a substantial research project and a commitment to publish the findings of the research and are also used to attract top faculty from around the world.

“ From the point of view of the development of the Faculty, the grant was priceless. It was a sign that the Faculty was a major player in business education in Canada – a huge vote of confi dence in a brand new enterprise and a magnet that helped to draw to York the brightest and best faculty members when they were most needed to participate in the task of building the Faculty. And it established a research culture in the Faculty at a time when the Faculty was just developing its principal characteristics.”

Commentary on the Ford Foundation grant from the memoir titled From Vision to Reality by James Gillies

First in Canada

Spotlight on Research 2016 19

1980s

1981

1982

• Gareth Morgan publishes the seminal text, Images of Organization, which becomes an instant classic in organizational theory.

The book would go on to revolutionize the field of organization studies, is translated into 15 languages and is taught in business schools around the world.

Over a quarter century later, it remains essential reading for those wishing to understand the complexities of how businesses operate and how to apply organizational concepts in practice.

NOW THEN

20 Schulich School of Business

1983

1984

1985

• The Max Bell Program for Business-Government Studies is established (1981).

1986

1987

1988

1989

• Dezsö J. Horváth, CM is appointed Dean of the School (1988).

Now serving an unprecedented 28th year as Dean!

• Charles McMillan, Professor of Strategic Management and International Business and an expert on global productivity and industrial policy, is appointed Senior Policy Advisor to the Prime Minister of Canada, The Right Honourable Brian Mulroney (1983).

According to Schulich Professor Ian MacDonald, “Some intellectuals influence public policy on the margins; others infl uence outcomes.

Charles McMillan belongs to the second category... From privatization to free trade, there was no aspect of the Mulroney agenda that was not substantially infl uenced by Charley McMillan.”

Professor MacDonald summed up Professor McMillian’s public policy legacy as being “a principal architect of policies that have transformed Canada’s economic landscape.”

1990s

1991

1992

• Schulich becomes one of the first business schools in North America to establish Chairs in Business Ethics, and Business and the Environment (1992).

• Christine Oliver is named the top-cited business school professor in Canada (1995).

1993

1994

1995

• Schulich partners with the University of Ottawa and McGill University to establish the CIDA-funded Southeast Asia PhD Program (1996).

• Christine Oliver is the first non-American to be appointed editor of the prestigious Administrative Science Quarterly (1997).

1996

1997

1998

1999

• Schulich establishes Anne & Max Tanenbaum Program and Chair in Entrepreneurship and Family Enterprise (1999).

NOW

THEN NOW W

THEN

Schulich Professor Named One of World’s Top 40 Under 40 B-School Academics Murat Kristal, Associate Professor of Operations Management & Information Systems and Director of Schulich’s Master of Business Analytics Program, was named in 2016 as one of the world’s 40 Most Outstanding Business School Profs Under 40 by the management education website Poets & Quants, which recognizes “rising star” faculty members for excellence in teaching, curriculum development, research, and administrative leadership.

According to Poets & Quants, Professor Kristal is “regarded as one of the leading researchers in the areas of supply chain management and data analytics” and the website noted that “his students laud him for his openness and ‘relentless passion’.”

Professor Kristal was the driving force behind the launch of the School’s Master of Business Analytics Program in 2012, making it one of the first such programs in the world.

Spotlight on Research 2016 21

2000s

2001

• Carly Fiorina, former CEO of Hewlett-Packard, announces $2-million gift to endow a new Chair in Corporate Social Responsibility in 2003 and says: “This Chair represents our profound belief that many of the great ideas for the next generation of corporate social responsibility will come from within the four walls of this school.”

• Schulich establishes CTV Chair in Broadcast Management and a Chair in Business History (2003).

• Yigang Pan, Professor of Marketing and International Business, is ranked the 3rd most prolific author in the Journal of International Business Studies during the period 1996-2006 (2005).

2002

2003

2004

2005

2006

2007

2008

2009

• Douglas Cumming, Professor of Finance and Entrepreneurship, receives the Ontario Research Chair in Economics and Public Policy (2005).

• Justin Tan, Professor of Strategic Management/Policy, is awarded a Fulbright Fellowship (2005).

• The Jarislowsky Dimma Mooney Chair in Corporate Governance is established (2007).

• Moshe Milevsky, Associate Professor of Finance, shares the CFA Institute’s prestigious Graham and Dodd Scroll Award of Excellence with a co-author for groundbreaking research paper (2007).

• Preet Aulakh, Professor of Strategy and International Business, is named the Hans B. Thorelli Award winner by the American Marketing Association for the “most significant contribution to international marketing theory or practice” over a five-year period (2005).

Douglas Cumming with Dirk Matten at Research Day 2015

• Wesley Cragg, Professor Emeritus and Senior Scholar, receives a $2.1-million grant from the Social Sciences and Humanities Research Council (SSHRC) in 2007, which helped paved the way to making the Canadian Business Ethics Research Centre Network (CBERN) one of the top business ethics networks in Canada.

• The Hennick Centre for Business and Law is jointly established by Schulich and Osgoode Hall Law School with a mandate to develop business and law scholarship (2009).

• Russell Belk, Professor of Marketing, is recognized in the Journal of Marketing as one of the most prolific scholars in the world’s top marketing journals from 1982 to 2006 (2009).

• Anoop Madhok, Professor of Strategic Management/Policy”, receives the Decade Award in 2009 from the Academy of International Business (AIB) for an article appearing in the Journal of International Business Studies which is judged to have had the most influence over the past decade.

THEN

From left: Paul Tsaparis, Carly Fiorina and Dezsö J. Horváth (2003) 22 Schulich School of Business

NOW

2010s

2011

2012

2013

2014

2015

• Christine Oliver is inducted as a Fellow of the Academy of Management (2014).

• Theodore J. Noseworthy, Associate Professor of Marketing and Scientific Director of the NOESIS Lab, receives a Canada Research Chair (2014).

• Matthias Kipping, Professor of Policy and Chair in Business History, is named by the journal Management and Organizational History as having the 10 most cited articles in Business History Review and Business History between 1990 and 2000 (2010).

• Andrew Crane, the George R. Gardiner Professor of Business Ethics, is ranked among the top two leading researchers in the world in the field of business ethics (2010).

• Russell Belk receives a Distinguished Research Professor designation from York University, conferred upon a scholar whose research has reflected outstanding quality, whose work has had a major impact on their discipline, and who has gained international stature by virtue of their research contributions (2014).

• Geoffrey Kistruck wins the Carolyn Dexter Award for All-Academy Best International Paper from the Academy of Management (2014).

2016

PRESENT

• Gareth Morgan receives The Martin Trailblazer Award, presented by the Organization and Management Theory (OMT) Division of the Academy of Management, for “scholarship and influence that has blazed new trails and opened new avenues of inquiry in the field of organization theory” (2014).

• Preet Aulakh wins the Best Paper Award at the Academy of International Business (AIB) Annual Conference and at the World Business Conference organized by the Indian Institutes of Management, for two papers he co-authored (2014).

• Kee-Hong Bae wins the Best Paper Prize from the journal, International Review of Finance, for a paper he co-authored (2015).

• Andrew Crane wins a Best Paper award from the International Association of Business and Society (2015). ◆

• Douglas Cumming, Professor in Finance, receives the 2011 Bank of Canada Award for best research paper on Canadian financial markets.

• Russell Belk is named the Best Professor in Marketing by the World Education Congress (2012).

• Markus Giesler is named one of the world’s “40 Best Business School Professors Under the Age of 40” by the management education website Poets & Quants (2014).

Geoffrey Kistruck (second from left) in Sri Lanka.

NOW

THEN Schulich announces the launch of a new state-of-theart behaviour and product design testing facility that will house the renowned NOESIS Lab (April 2016).

Markus Giesler delivers TEDxYorkU presentation

Spotlight on Research 2016 23

Ten Questions with Wade Cook

Material republished with the express permission of National Post, a division of Postmedia Network Inc.

Professor of Operations Management and Information Systems, Gordon Charlton Shaw Professor of Management Science

24 Schulich School of Business

The Schulich Research Office recently sat down with Professor Wade Cook and asked him to share some insights about his work and reflect on his 40-plus-years career with the Schulich School of Business.

1

You joined the Schulich faculty as a young academic back in the early 1970s, not long after the School was first established.

What was it like back in those early days? Because the School was so new, was there a sense of unlimited possibilities and the opportunity to chart new directions in terms of teaching and courses?

I was new and came from a Math Department so I knew nothing about business schools. Thus, I didn’t think about things like charting “new directions.” It was all new to me.

2

Did you have any mentors early in your career or scholars whose work you admired?

Probably the person who had the biggest influence on my early career was a Professor in the Economics Area, Tillo E. Kuhn. He gave me three things.

In the summer of 1973, I dropped by Tillo’s office and asked if he knew of any literature to help me with a consulting problem prioritizing construction projects on military bases, relying upon qualitative and quantitative criteria, as well as multiple opinions/votes. He never spoke a word, but rather opened his desk drawer (which I recall was impeccably organized) and pulled out an article from a journal, and said “read this!” That little piece of magic opened a whole new world for me. Not only did I find a solution to my problem but I began to see an entire storehouse of similar research problems.

For the next 15 years or so, I wrote and published a number of articles on qualitative data in some of the top journals, including Management

Science and Operations Research. Second, Tillo hooked me up with the research department in the Ontario Ministry of Transportation, which again led to a stream of research grounded in a practical setting: quantitative research problems involving the management of the provincial highway network. Third, I co-edited my first book with Tillo.

3

Who were the colleagues at Schulich back in the ’70s, ’80s and ’90s whose work you most admired?

Stanley L. Warner, Professor of Statistics and Economics, produced about one article every two or three years, but that article would always be published in a very top A++ journal in his field. He was incredibly modest, never blowing his own horn. Many of his own colleagues rated him at a very low level in terms of research productivity, but in my mind, he was amazing. When he died, some of the top statisticians in the world came out to his memorial. He was, at the end of it all, a star.

4

Modelling operational processes is well-established in regards to manufacturing operations, but less so in terms of service sector organizations, which is the area where much of your expertise lies. This is especially significant given the growth of the service sector in terms of total GDP in most developed countries.

called data envelopment analysis or DEA. Unlike conventional statistical models such as regression, which seeks to capture average performance, DEA looks at identifying the best practices’ frontier.

Which are the best hospitals, for example, that other less efficient ones should emulate?

This is where my research has been concentrated for the past 30-plus years.

There are a host of interesting modelling problems here, including performance evaluation of sets of decision making units (such as a set of schools of business), which may not be directly comparable. I currently have one doctoral student who is looking at evaluating the full set of 800-plus economic activities in Mexico, with the goal being to find the most promising activities that governments should support, and for the underperforming units, what targets to set for them in future. Another doctoral student is working on evaluating a set of regions in China in terms of economic performance, as well as which regions are making the most progress in recycling of water and as well reducing harmful gases from the environment.

My area of interest is on benchmarking best practices in any given environment whether it be manufacturing, financial services, hospitals or education. The mathematical modelling tool used is

Spotlight on Research 2016 25

5 Decades

9,000+

40+

OF ACADEMIC & RESEARCH PRODUCTIVITY

CITATIONS

PROFESSIONAL/CONSULTING ACTIVITIES

(Total as of July 1, 2016)

Has served in an advisory/consulting capacity to various private organizations and government departments, including:

$450,000

2012

3 YEAR CRD GRANT IN 1996

BEST PAPER PRIZE

• • • • • • • • • •

5

6

7

What, in your view, are the key challenges that organizations must come to grips with in the coming years in terms of modeling operational processes and identifying best practices?

In my opinion, there is a rapidly growing interest in mining data and identifying best practices buried in the millions of gigabytes of data held by many organizations. Harnessing that data and implementing the tools needed to mine it effectively is a key challenge.

26 Schulich School of Business

You are considered one of the top researchers in your field.

In a recent article in the journal OMEGA that reviewed more than 500 researchers in data envelopment analysis (DEA), you ranked in the Top Five worldwide. Can you please describe your achievements and how you were able to be so productive and influential?

My philosophy on being a success in research is to love what you do. The prolific researcher has to be as thrilled with the publication of his or her 100th article as he or she was with their very first article. I always joke that the publication of each article should feel like going on a ‘first date.’ I have also had the benefit of having some great co-authors. Many researchers, not all, need a sounding board for that next good idea. A bright co-author can help steer the direction or in some cases point out a flaw before proceeding.

Of course, research success can also be found by following my PhD advisor’s advice: ‘Look for the good, easy unsolved problem.’

Canadian Tire Corporation Canadian Imperial Bank of Commerce Kellogg Salada Canada Ltd. Nucro-Technics Ltd. Ontario Ministry of Transportation Transport Canada Department of National Defence City of St. Catharines Hostess Frito Lay Ontario Hydro

You’re a prolific researcher.

You’ve served as an associate editor or on editorial boards for a number of research journals; you are a former Associate Dean, Research, and Chair of the PhD program here at Schulich. Why does research matter? Is it changing management practices for the better?

On the operational side of the business, new models and methods have certainly had an enormous influence on the way industries are run. For example, the sole purpose of the journal, Interfaces, is to publish research, on actual business problems and report on the actual impact that research has had on industry. Whether it be in production scheduling, revenue management, project management, or any of a host of other areas of business management, you’ll find quantitative models arising from earlier research have been implemented to great effect. Today, project managers religiously use software tools such as Microsoft Project without ever thinking about the linear programming models that had to be developed to make the software magic happen. One of the hardest things to do is implement operational research models in industry, probably because it is seen as a ‘black box’ and so not transparent. Yet a mountain of evidence shows that quantitative research has had an overwhelming impact on industry advances over the years.

On June 11, 2010, York University conferred the title “University Professor” upon Wade Douglas Cook.

8

Over the course of your career, you have written hundreds of journal articles and book chapters, authored and edited numerous books, received numerous research grants, and have won best paper awards.

In your view, what have been your most significant research contributions to date?

I would point to some of my earlier work in priority ranking and consensus formation, much of it published in Management Science. As well, I would point to some of my more recent work on non-homogeneous decision-making units in DEA that was published in Operations Research. This latter allows one to compare what can be thought of as being non-comparable.

9

You’ve seen an incredible transformation at Schulich during the course of your career, from soon after the School’s start 50 years ago, when it became the new kid on the block, to the current day, where the School enjoys global stature and a world-leading reputation for business management research.

What are some of your observations on that transformation?

The growth in Endowed Chairs and Professorships throughout the past five decades have allowed us to bring in some truly accomplished researchers, as well to distinguish Schulich as a leader in key high-profile research areas such as business and sustainability, business and government, and entrepreneurship. In my opinion, this is what has allowed Schulich to emerge as a leader in many fields of business education and research.

10

What research are you currently working on?

I have moved into a number of research areas where I think I can make a difference, such as measuring the performance of supply chains. Much of my work on benchmarking has involved multistage processes such as supply chains. The research to date in this area has generally assumed that we can only compare chains with the same number of stages. But consider, for example, a product shipped directly from a supplier to a retailer, versus another retailer having the same product sent from the supplier through a distribution centre. I am currently developing models that would relate to this type of context-dependent setting. ◆

My philosophy on being a success in research is to love what you do. The prolific researcher has to be as thrilled with the publication of his or her 100 th article as he or she was with their very first article. I always joke that the publication of each article should feel like going on a ‘first date.’

Spotlight on Research 2016 27

Schulich’s Areas of Specialization Faculty Highlights

F I NANC E

S T RAT E GI C M A N AGE M E NT / P OL I C Y

OR GANIZATION STU DIES

OPER ATIONS MANAGEMENT & INFOR MATION SY STEMS

AC C OU NTING

MAR K ET IN G EC ONOMIC S

28 Schulich School of Business

Chris Bell Associate Professor and Area Coordinator of Organization Studies

Tell us about some of the research projects you are currently engaged in.

UK colleague, has been accepted at a June, 2016, symposium at the Social Justice Research conference.

Tough and fair or tough is fair?

Disciplinary decisions and justice as predictors of ethical leadership: This paper will be co-authored with two York students and colleagues in Pakistan.

Our premise is that although employees don’t like being disciplined, they appreciate a supervisor who disciplines others who bend or break the economic and social contract. We surveyed more than 200 employees working for almost 60 supervisors in Pakistan and found that a supervisor’s ability to carry out tough disciplinary measures was positively associated with evaluations of leader ethicality, mediated by perceptions of supervisory fairness, and that effect was moderated by individual differences in power distance.

The research consists of a survey and lab study. Almost 40 per cent of young adults entering the work force can be characterized by insecure attachment (Konrath et al., 2014). Anxious attachment is defined as a negative view of self and a motive for more closeness than others are able or willing to provide. We find that anxious attachment influences justice information processing and interferes with development of stable fairness heuristics.

Fairness heuristics, formed early in a social relationship, help resolve concerns about exploitation or social exclusion, are a proxy for trust, and disambiguate social information and interactions.

In a follow-up experiment with Schulich BBA students, we considered the effect of uncertain conditions in Pakistan.

We found that power distance related positively to leader ethicality, especially when subjective uncertainty was relatively high. However, leader traits of firmness and decisiveness were negatively related to perceptions of leader ethicality, and more so under uncertainty.

gap in looking at responses

In a final experiment, we will distinguish personality traits from disciplinary behaviours enacted on behalf of the group’s welfare.

Anxious attachment and perceptions of fairness: How relationship insecurities determine when, how, and why workplace fairness matters. This project, with a York student co-author and a

responses to victim helpers, moderated by the helper’s organizational status.

Data from an online survey using a 2 x 2 scenario design (helper’s sex by helper’s organizational status as supervisor or coworker) revealed that male respondents who are relatively higher in hostile sexism are most likely to ostracize and least likely to identify with a high-status helper.

We are conducting a lab study to explore how these response patterns generalize to attitudes about the organization.

This research fills an important gap in looking at responses to helpers of sexual harassment victims, and contributes to the social identity and social dominance literatures.

What are your future research plans?

This research fills an important to helpers of sexual harassment victims, and contributes to the social identity and social dominance literatures.

Distancing from helpers in sexual harassment: Sex type, hostile sexism, and organizational status, this project, conducted with two York student co-authors, investigates responses to a helper of a victim of sexual harassment.

The first part of the study, submitted to the Academy of Management 2016, proposes that a person’s sex and level of hostile sexism will be related to negative

In the coming year, I will explore the psychological and social construct of the hero. Despite being a critical archetype in religion and mythology, there is surprisingly little exploration of the hero outside of Jungian or narrative analyses.

What little there is that is relevant to business research tends to confound heroes and leaders. Indeed the authors of one of the few books summarizing the extant research on heroes, Heroes: What they do and why we need them (Allison & Goethals, 2010), uses the terms ‘hero’ and ‘leader’ interchangeably.

Anecdotally, we know from the late Rob Ford that the political tactic of appearing to be a hero to a constituency (i.e., fighting for the underdog), does not always effectively translate into effective leadership. Conversely, from John Tory, we learn that the path does not reliably

Spotlight on Research 2016 29

go the other way. I will first explore the motivating role of the hero by examining how narratives of heroic effort and the overcoming of seemingly unsurmountable obstacles might be associated with a subject’s perseverance on an impossible task. I will contrast the hero with role models as an upward social comparison that may at first motivate but, as the task proves challenging, may de-motivate and promote counterproductive behaviours.

I will also explore why role models promote envy whereas heroes do not.

This aspect of the research is relevant to how and when organizations use role model programs such as ‘employee of the month’ or extraordinary employees as heroic motivators.

What have been your most intriguing, significant and/or most influential research findings?

What fun fact would your Schulich colleagues be surprised to learn about you?

In terms of my published research, the finding that sometimes inaction and acts of omission are morally motivated (Rupp & Bell). People tend to think of ethical actors as agents of good.

Someone else’s inaction is much more difficult to understand. In our study we found that not taking a disciplinary action may be motivated out of a norm about harming others. On the flip side of that, my research with Art Assoiants, developed out of his psychology honours project at York University, found that employees consider tough disciplinary supervisors to be ethical and fair. In other words, even if inaction is motivated by moral selfregulation, it can be problematic at work.

I own a condo in Xiangtan, Hunan province, China, where I enjoy summer every year with my wife. Xiangtan is the Hamilton of Hunan – a steel city just outside the capital of the province.

It’s a great opportunity to write and pursue research partnerships with colleagues at Chinese universities. Plus, you can’t get good snake in Toronto.

Chris Bell explains his research project, Tough Disciplinary Decisions, to a woman attending Schulich’s Research Day.

30 Schulich School of Business

Peter Darke Professor of Marketing

Tell us about some of the research projects you are currently engaged in.

My research examines the emotional, motivational and cognitive aspects of consumer judgment and decision making, as well as other aspects of consumer behaviour. Much of my research has to do with trust and suspicion, as it relates to psychological distance and the perceptions of distance, both social distance and physical distance.

local store, such retailers also enjoy the benefit of psychological proximity. This makes consumers feel closer to local retailers even if they are not directly familiar with them.

Much of my research has to do with trust and suspicion, as it relates to psychological distance and the perceptions of distance, both social

Describe how you were motivated or inspired to engage in these research projects.

Distrust by consumers in marketers is an ongoing interest of mine. A lot of consumers just don’t really trust marketers. Consumers can become irrationally suspicious because of one bad experience that creates defensive distrust that is then generalized to other marketers. The thing that we find that is interesting and disturbing is this effect applies equally to well-known brands and retailers. We were trying to understand how we can help relatively unknown retailers to better compete online.

We noted the market has become dominated by large retail brands, in contrast to the original suggestion that the Internet would be a huge boon for smaller localized sellers, or those who lack the resources for a physical store, as it gives them access to a much larger market. The problem is that consumers don’t trust retailers at the best of times, especially when they are unfamiliar, at great physical distance, or lack a physical store. We show that besides the practical benefits of dealing with a retailer with a

distance and physical distance.

In contrast, physically distant retailers feel far away and are trusted less as a result.

We show that it is the perceived psychological distance, rather than the actual physical distance, that really matters when it comes to trusting and purchasing online. We do this by showing that other factors that make retailers feel closer can generate increased trust and encourage purchase even when the retailer is at a great distance. This is because trust is determined not only by physical distance, but also social distance, and the tangibility of the retailer, through a physical location rather than purely virtual. For instance, seeing a picture of a building, knowing the owner’s name, or recognizing the name of the town the physical store is located in, can all make consumers feel a lot closer, despite great physical distances, and lead consumers to trust enough to consider a purchase. Essentially consumers mix up the different sources of psychological distance (physical distance, concreteness vs. abstractness, temporal distance, and social distance), and this means that

one can compensate for the other when it comes to determining trust and purchase intentions.

How does your research approach differ from other scholars in your field?

I like to do research that has both theoretical and practical interest. This is really what drew me to the business school from my past life as a social psychologist. I’m also willing to pursue the questions that I find interesting, even if they are unlikely to be published in a top journal, and I like to study things that I cannot relate to in terms of my personal experience. Behaviour is full of intriguing surprises if you look closely.

You are on an elevator with Prime Minister Justin Trudeau.

Describe the significance of your research from the perspective of the business community.

Trust is a central concern in human exchange, including economic exchange.

Consumers often have to decide if they trust sellers on the basis of minimal direct experience or contact. Canada is a big country geographically and it also depends on economic exchange with other countries. By better understanding what legitimate businesses can do to foster trust with consumers and the problems that arise when such trust is broken, our research helps to foster better and more successful marketing practices.

Spotlight on Research 2016 31

Tell us about some of the greatest challenges you have encountered while pursuing your research and how you overcame them.

The greatest challenge has been a lack of sufficient lab space and a pool of research participants. These problems were solved by the collective efforts of colleagues at both Schulich and York to build a modern lab space at Schulich, the NOESIS Innovation, Design and Consumption Lab, under Theodore Noseworthy’s leadership. It was really a team effort, and thankfully we received a lot of help.

I have a number of projects on the go. Most relate to issues of trust among consumers, and questions relating to what causes some marketers to engage in deceptive practices, who they target, and why. Other research will try to better understand how to market products to consumers in a way that consumers themselves see as ethical, fair, or preferable. Distrust, cynicism and skepticism are common reactions when businesses market products in ways that contradict these standards, and we have real problems with these perceptions in the marketing field right now.

Please tell us about any mentors or scholars whose work inspires you.

I had the privilege of working with Shelly Chaiken at NYU as a postdoc, and she really inspired the work that I do today in a fundamental way. She was really a pioneer, someone whose ideas were not immediately accepted, but who eventually redefined the field of social psychology and consumer behaviour.

Her story would be an inspiration to a lot of young academics these days.

What fun fact would your Schulich colleagues be surprised to learn about you?

I was a real “jock” when I was in high school. Captain of the basketball and football teams, and even athlete of the year.

Copyright © 2007-2016 Casinos Austria International

The students who participate in our studies as volunteers have also been a big help and we are very grateful for that.

What are your future research plans?

Peter Darke presents his research on the extent to which irrational convictions influence decisions in gambling at the 9th Annual Responsible Gaming Academy.

32 Schulich School of Business

Burkard Eberlein Associate Professor of Strategic Management/Policy

Tell us about some of the research projects you are currently engaged in.

My research projects seek to break new ground in the study of the businessgovernment and business-society nexus.

1) Interactions in Global Business Governance is a collaborative examination of how business conduct is increasingly regulated by an array of private sector, civil society, multi-stakeholder and public-private institutions, with any one industry often governed by multiple schemes.

This raises the questions: How do the various non-state or hybrid regulatory schemes and players interact with one another, and with law and regulation?

Do different standards and regulatory frameworks work at cross-purposes?

Or do they work together towards higher standards that may provide both certainty and pressure for business to behave more responsibly?

2) Re-examining the role of the state in corporate social responsibility (CSR) investigates how today’s large corporations are clearly more than simply economic entities, as they increasingly take on wider social and political responsibilities, some of which have traditionally been in the exclusive domain of governments.

Current research on ‘political CSR’ too often assumes a zero-sum relationship between governments, hollowed out by globalization or too weak or corrupt to act, and politically active corporations filling the gap left by governments.

Yet, examples abound where states have retained significant power and where corporate and political authority have become deeply intertwined. The goal of this project is to develop a more nuanced

understanding of the complex interplay between the state and corporations, a conceptualization capable of reflecting the diversity of constellations, from Western liberal democracies to authoritarian regimes such as Russia and China.

3) Reacting to crisis: Nuclear policies in response to the 2011 Fukushima nuclear disaster asks why different jurisdictions react differently to an external shock.

The project compares the nuclear policy responses of countries across the globe, by tracking how actor coalitions shift, or stabilize, after an accident. It uses a combination of quantitative social network and discourse analysis and qualitative case-studies to substantiate how and why coalitions (in support of or opposed to nuclear power use) form and re-align to produce policy change or continuity.

Describe how you were motivated or inspired to engage in these research projects.

A big driver of my research is to understand how in a complex, ‘no-one wholly in charge world’ things get actually organized and done. How is order out of chaos even possible? How does coordination emerge and work?

Only if we better understand how different parties can and need to work together, do we have a chance to even begin to address today’s pressing social and environmental issues, such as climate change and inequality. What are the governance processes that align the different parties – business, civil society, and governments – that need to be brought together to arrive at viable solutions? Are some governance arrangements more effective than others?

Ultimately, it is about how we can further the public interest, and business is a key piece in this puzzle.

Only if we better understand how different parties can and need to work together, do we have a chance to even begin to address today’s pressing social and environmental issues.

How does your research approach differ from other scholars in your field?

My research approach is very interdisciplinary, boundary-spanning.

I am a political scientist by training, working in a business school that draws on various other disciplines. I have collaborated with Schulich management scholars in the business and society field, as well as a former colleague on global accounting standard-setting.

You are on an elevator with Prime Minister Justin Trudeau.

Describe the significance of your research from the perspective of the business community.

Many business leaders today understand that they are expected to contribute to solving our society’s most pressing issues.

But they are often unsure about how to engage, beyond risk and reputation management.

Research into what works when it comes to engaging with governments and civil society groups in the pursuit of the wider public interest could help business leaders to make decisions.

Spotlight on Research 2016 33

Tell us about some of the greatest challenges you have encountered while pursuing your research and how you overcame them.

When you collaborate across disciplines, you need to understand and navigate different conventions, traditions, paradigms, etc. Journals and research funding are often not well set-up to support interdisciplinary work, so it is tougher to get recognition.

In addition to SSHRC grants, however, I have been able to attract support and funding from some non-conventional sources, internally from the Hennick Centre for Business and Law, and externally from The Hague Institute for the Internationalisation of Law to kick-start collaborative research with legal scholars.

What are your future research plans?

I am especially keen to advance research on the business-government nexus. There is little communication between the political CSR research in management scholarship and important and useful work on ‘regulatory governance’, from a political science and socio-legal perspective. It would be exciting to break down these disciplinary boundaries and work toward some cross-fertilization.

If resources were no object, what would you research and how would you go about it?

We know that corporations today take on more social and political responsibilities.

But do we really know this? How do we measure this presumed shift towards more ‘political CSR’, at the assumed expense of government responsibility?

Burkard Eberlein enjoys collaborating on cross-disciplinary projects with his Schulich colleagues.

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It would be neat to have the resources to research this phenomenon more systematically and gather data for a large set of companies, in all types of socioeconomic and political contexts. It would have to be a major, international and interdisciplinary endeavor – but it could truly break new ground.

What pedagogical changes do you see on the horizon through your research?

I see a major movement toward teambased, networked collaboration on the horizon. We need to help our students to quickly grasp complex constellations, and understand the need to respond in real time to multiple challenges.

Irene Henriques Professor of Economics

Tell us about some of the research projects you are currently engaged in.

I am working on three ‘sustainability’ projects.

I am working with Bryan Husted, EGADE Business School, Tecnológico de Monterrey, and Andrew Crane, Schulich School of Business, on income inequality (social sustainability) and the role firms play in reducing or exacerbating income inequality within their organizations and society.

With Carlos Scheel, EGADE Business School, Tecnológico de Monterrey, I am applying a circular economy framework, which is based on concepts of industrial ecology and the regenerative economy, to deal with the environmental, economic and social challenges of a small community in Mexico. The question addressed is: What social elements must be incorporated into the circular framework for it to be able to restore environmental resilience while creating economic returns and social benefits in the communities in which this system is implemented?

I am also researching the relationship between renewable energy and indigenous peoples of Canada; examining the role that financial institutions, governments and businesses play in encouraging or discouraging aboriginal social entrepreneurship. Using stakeholder theory and social entrepreneurship theory, I argue that financial institutions, governments and businesses in developed countries often fail to properly assess the values of aboriginal peoples and aboriginal social entrepreneurial projects.

With my colleagues from the University of Victoria in British Columbia and the University of Regina in Saskatchewan, I will collect data on renewable projects

undertaken by aboriginal social entrepreneurs to explore what financial institutions, businesses and NGOs can do to better understand and incorporate their social, environmental, and spiritual values.

Describe how you were motivated or inspired to engage in these research projects.

Problems such as climate change, environmental degradation and income inequality are what Horst Rittel and Melvin Webber, professors of design and urban planning at the University of California at Berkeley, called ‘wicked problems.’ In a 1973 article in Policy Sciences, Rittel and Webber described a wicked problem as one that has innumerable causes, is tough to describe, and doesn’t have a single right solution.

As someone who studies stakeholder theory, I am intrigued that the greater the disagreement amongst stakeholders, the more ‘wicked’ the problem. In my research, both context and stakeholders matter, making it an ever-changing puzzle – and I love puzzles.

businesses to be part of the solution, government needs to clearly signal that economics is not the sole objective.

Tell us about some of the greatest challenges you have encountered while pursuing your research and how you overcame them.

My research on environmental issues began in the 1990s. At that time, business scholars were not very interested in environmental issues, focusing mainly on environmental regulation. A host of stakeholders were missing from the conversation in both economics and management, so I undertook one of the first broad-based surveys on business and the environment. I sought to determine the other stakeholders that incited business to go beyond the minimum environmental standards set by regulation. I went against the status quo – a risk that paid off handsomely.

As someone who studies stakeholder theory, I am intrigued that the greater the disagreement amongst

You are on an elevator with Prime Minister Justin Trudeau.

Describe the significance of your research from the perspective of the business community.

stakeholders, the more

Sustainability is a key factor in Prime Minister Justin Trudeau’s platform. I would explain that studying sustainability from an economic, social and ecological perspective and delineating the tensions that exist between the three dimensions is the key to understanding the motivations and processes needed to achieve a sustainable society. For

What have been your most intriguing, significant and/or most influential research findings?

‘wicked’ the problem.

Two papers with Perry Sadorsky were published in the leading environmental economics journal, Journal of Environmental Economics and Management, and the leading

Spotlight on Research 2016 35

management journal, Academy of Management Journal. These articles provided empirical evidence that government regulation was not the only reason that firms adopted environmental practices and that proactive companies were less likely to be affected by environmental regulation.

Other stakeholders were at play here too: consumers, the media, as well as regulations were important factors, but proactive firms were more in tune with their stakeholders’ concerns and adjusted accordingly.

not have been addressed in a purely disciplinary environment. Interestingly, the medical community has been able to make amazing medical progress as they have started to remove the silos between disciplines.

Alice Gottlieb, professor of medicine and director of the Clinical Research Center at the Robert Wood Johnson Medical School, Rutgers University, articulates it beautifully: ‘If you think of disciplines as organs, true interdisciplinarity is something like blood. It flows. It is a liquid. It is not contained. There is no inside and outside.’

What are your future research plans?

I am hoping to undertake more interdisciplinary research. I have worked with scientists in the past on secondgeneration biofuels and bioinvasions, as well as the effects of climate change on the distribution of invasive alien species in Canada. Both these topics have business associations that might

If resources were no object, what would you research and how would you go about it?

If resources were no object, I would like to go into a community for a year with a team of engineers, entrepreneurs and social scientists to create a model circular economy.

Irene Henriques is looking forward to undertaking more interdisciplinary research projects.

36 Schulich School of Business

Please tell us about any mentors or scholars whose work inspires you.

My late father was my mentor. I was the first in my family to go to university and my parents had only a basic grade school education when they came to Canada from Portugal. He worked hard to learn how to read and write English and French on his own and started a small construction business. He taught me to be resourceful and build on what is already there. That is what research is – we build on the shoulders of other researchers.

What fun fact would your Schulich colleagues be surprised to learn about you?

I am petite but I have three years of Kung Fu and 3 years of Karate under my belt!

Mark J. Kamstra Canadian Securities Institute Research Foundation Term Professor of Finance; Director, Financial Engineering Program

Tell us about some of the research projects you are currently engaged in.

I have two main streams of research on the go. My new work involves looking at empirical asset pricing (i.e., how to choose which financial assets to buy and which to sell). Supported by a limitedterm Chair in Finance funded by the Canadian Securities Institute Research Foundation, I will explore asset valuation and misvaluation, starting with a working paper on momentum.

A second research stream will draw on my ongoing work on seasonality in financial markets and explore mis-valuation vis-à-vis changes in investor mood. I began my work on seasonality during the late 1990s with an investigation of the effects of daylightsaving time changes on the stock market and have continued looking at the impact of mood on financial markets and instruments. Seasonal affective disorder is a well-known form of mood disorder, along with depression and the winter ‘blues’. Depression has been shown to impact financial risk-taking, so seasonal changes in the amount of daylight, which synchronizes the mood of many people at once, has the potential to move financial markets.

efforts to explain a puzzle to my students. Teaching and research can go hand-in-hand.

How does your research approach differ from other scholars in your field?

My co-authored work relating mood to financial markets and risk aversion, published in the American Economic Review, was seminal and is now heavily cited. My ongoing research into market seasonality is distinct from virtually all other work in finance in the sense that it straddles efficient market theory and behavioural finance, something my co-authors and I call ‘rational behavioural finance’. We argue that mood can change investor risk aversion and time-varying aversion to risk helps to explain market anomalies that have been described as irrational or examples of investor mistakes.

Serendipity has to be given some credit for my research agenda. A colleague’s conversation with a psychologist started us thinking about the potential impact of time changes on investor anxiety, which led to my work on seasonality in mood and markets. My work on asset pricing, like a number of research projects, was likewise prompted by

When puzzling over signals from financial markets, like trying to understand if a stock market crash means that the economy is in trouble, my research could help the federal government and the business community distinguish between a transitory panic and real trouble.

Tell us about some of the greatest challenges you have encountered while pursuing your research and how you overcame them.

When a scholar challenges orthodoxy – and efficient markets economists and behaviourists each follow their own orthodoxies – you have to be ready for a long fight. The challenge is mustering sufficient patience.

We argue that mood can change investor risk aversion and time-varying aversion to risk helps to explain market anomalies that have been

After 10 years and a string of related publications on investor mood and markets, the broader community of financial economists is becoming impressed and interested. Fame and fortune? I’ll settle for a conversation.

described as irrational or examples of investor mistakes.

Describe how you were motivated or inspired to engage in these research projects.

You are on an elevator with Prime Minister Justin Trudeau.

Describe the significance of your research from the perspective of the business community.

What have been your most intriguing, significant and/or most influential research findings?

Predictable variations in mood lead to large variations in the price of financial assets. One implication is, come autumn, expect panics. Hold tight and you will be all right.

Who is your favorite research collaborator and why do you think your work together has been so productive?

This would be Lisa Kramer, Professor of Finance with the Rotman School of Management at the University of Toronto, with whom most of my best work has been done. We have very complementary skills and interests, and we get along famously. Fair disclosure: Lisa is also my wife.

Spotlight on Research 2016 37

Do you bring your research experience into the classroom and, if so, how?

If resources were no object, what would you research and how would you go about it?

What pedagogical changes do you see on the horizon through your research?

It would be hard not to bring my research experiences into the classroom. This is one advantage of teaching in a school such as Schulich that has large MBA and BBA enrolments and therefore abundant specialized course offerings.

I am already doing it. I have great research resources here at Schulich.

I hope that my work encourages the use of social psychology topics in introductory business courses. Understanding human biases is central to everything from managing your life to managing your business.

One course I teach is behavioural finance, so I cover some of my work there.

Another is investments, and market (ir)rationality is at the heart of any investments course. Talking about mood and its impact on markets is natural in this course as well.

What are your future research plans?

I am keenly interested in research at a more granular level than my early work; looking at individual asset prices rather than just market indexes like the TSX 60.

Mispricing and market panics start with individual asset prices.

Please tell us about any mentors or scholars whose work inspires you.

Hal White, my PhD advisor at the University of California, San Diego, was a routine presence on the shortlist for the Nobel Prize until his death in 2012. Hal taught me, among other things, to be methodical and respectful of how hard even easy questions can be to answer.

The other members of my PhD committee, Rob Engle and Clive Granger, co-winners of the 2003 Nobel Memorial Prize in Economic Sciences, have also been a great inspiration. Standing on their shoulders provides quite a view.

When Mark Kamstra teaches behavioural finance, he touches on some of his research projects.

38 Schulich School of Business

What fun fact would your Schulich colleagues be surprised to learn about you?

If I couldn’t do what I am doing right now, I would probably become a portrait photographer. In Hawaii.

Moren Lévesque Professor of Operations Management and Information Systems; Chartered Professional Accountants of Ontario Chair in International Entrepreneurship

Tell us about some of the research projects you are currently engaged in.

With co-researchers Richard Arend from the University of Missouri and Maria Minniti from Syracuse University, I am investigating how the pioneering strategic choices of scientists and engineers produce technological innovation, which in turn drives economic growth. Instead of focusing on the specific features of a new technology, we focus on the malleability of the strategic levers of the profit function, such as entry and variable costs and potential market demand.

This research suggests that we should encourage entrepreneurs and managers to build capabilities in lever-pulling (i.e., lowering or increasing entry or variable costs, or potential market penetration), especially if their firm is expected to pioneer often. They should not think about profits and their determinants simply as an outcome, but as a malleable strategic tool capable of influencing the potential entry of competitors. When research, development and engineering (RD&E) functions are important, the strategic manipulation of entry cost, variable costs and market size − the parameters of the profit function − may allow pioneers to maintain a leadership position. The research provides a way to consider the conditions under which each of the three options should be chosen and why. Also, we identify the range of each lever’s values that make welfareimproving transfer payments possible.

That is, we provide entrepreneurs or managers with a way to think about how to lobby for conditions that would best support pioneering RD&E activities.

Another exciting project is with my operations management doctoral student, Anton Shevchenko, who is trying to better understand the barriers that prevent firms from improving their supply chain transparency. He is using eight case studies to identify the factors that inhibit or enable a firm’s ability to achieve transparency and then building a prescriptive model for how firms should make their supply chain transparent.

This is an important research question because if we know what should be done, then key stakeholders, such as customers, regulators, and certifying agencies, can help to create truly transparent supply chains.

Describe how you were motivated or inspired to engage in these research projects.

Due to the complexity and limited theoretical understanding of this phenomenon, agent-based simulation is a natural follow-up step, since the realistic case studies feed realistic information, such as parameter values, into the simulation. Also, empirical methodologies rely on agents acting prior to studying their practices, creating a context where the only way to study the barriers to or enablers of transparency is to wait for such actions to take place.

• Enable the investigation of longitudinal phenomenon where empirical data is inexistent;

Computational modeling and simulation can, on the other hand, make predictions about future actions, with some boundary conditions, and can enable us to inform theory and practice, today.

• Allow the researcher to uncover patterns beyond what is intuitively derivable;

I am motivated to work with smart people with different backgrounds and perspectives. Just as business startup teams need to include people with a variety of backgrounds, research projects in entrepreneurship also tend to be multidisciplinary. I am a methodological researcher, who uses formal modelling, and am often approached by scholars who have research questions that simulation and other methods can address.

For instance, a simulation approach can:

• Provide a degree of flexibility in experimental design not possible with alternative approaches; • Investigate intertwined processes, feedback loops, time delays and other nonlinear effects difficult to study empirically; • Articulate/analyze important tradeoffs and find boundary conditions;

• Analyze the effect of a series of variables jointly; • Explain why empirical research findings have been inconsistent; and

I am motivated to work with smart people with different backgrounds and perspectives.

• Show that an effect empirically identified and described as puzzling may actually be bogus.

Spotlight on Research 2016 39

You are on an elevator with Prime Minister Justin Trudeau.

Describe the significance of your research from the perspective of the business community.

I would discuss with Prime Minister Trudeau my research, with Maria Minniti from Syracuse University, on the impact of age on entrepreneurism. The research suggests that welcoming immigrants within a middle age range can be a great thing for Canada’s economic prosperity.

Countries with populations that are excessively skewed toward old or young cohorts are likely to experience lower levels of entrepreneurial activity. Youth possess low accumulated wealth with which to reduce business uncertainty, while older individuals face high opportunity costs of entrepreneurship by having to forgo seniority wages in exchange for uncertain returns.

Do you bring your research experience into the classroom and, if so, how?

What pedagogical changes do you see on the horizon through your research?

I do bring my research into the classroom and the students love it! When I teach new venture creation, which involves the students learning how to pitch their business idea, I bring the findings from my research on the CBC reality TV show Dragons’ Den. My co-researchers, Andrew Maxwell from York University, and Scott Jeffrey from Monmouth University, and I had access to the entire unedited recording (i.e., not just what was aired) for the first four seasons of the show.

The most relevant findings are the eight critical factors: When you pitch to the ‘Dragons’, you are ‘out’ if you have a flaw on any of these factors (and you only need one flaw – it is fatal!). The results from this research were also published in The Globe and Mail, in a Report on Business column that I co-authored with Yuval Deutsch, “Running ballistics on the Dragons’ eight silver bullets”.

My research has shown me the pressing need for a multidisciplinary classroom.

My business students ask to be mixed with my engineering/science students, and vice versa. For success, business startup teams must include people with a variety of backgrounds, including technology.

What fun fact would your Schulich colleagues be surprised to learn about you?

Perhaps that I did not speak fluent English until I was 29… or perhaps my Schulich colleagues would not be surprised.

Moren Lévesque says she is motivated to work with smart people with different backgrounds and perspectives.

40 Schulich School of Business

Amin Mawani Associate Professor of Accounting

Tell us about research projects you are currently engaged in.

For one of my research projects, I am part of a team at York that was recently awarded $410,733 from the Canadian Institute of Health Research (CIHR) to investigate how to improve the mental health of students at York University, including their ability to cope with stress, anxiety and depression, and to show whether such efforts are cost-beneficial.

The research team includes professors from York’s Faculty of Health, psychiatrists from the Centre of Addiction & Mental Health and North York General Hospital, as well as an IT supplier offering web and mobile telehealth applications.

My role will be to undertake an economic analysis and make a business case for investing in students’ mental health at York. I will be quantifying the economic costs and benefits of a clinical treatment program delivered to York students via the Internet. The costs of providing the treatment will not be very difficult to quantify. However, quantifying the economic benefits will require a lot more work. Expected benefits include improved class attendance, more timely graduation by students, earlier participation in the labour market and tax-paying status, and fewer OHIP claims.

We may roll out similar programs at other university campuses if we can show that our Internet-based clinical intervention system works and that the benefits exceed costs.

Describe how you were motivated or inspired to engage in these research projects.

I have always been interested in applied research that attempts to show value for money spent, or making a business case for investing in new technologies and processes. My previous work demonstrates how investing in employees’ mental health is costbeneficial for employers. The prevalence of diagnosable mental illnesses is increasing on North American university campuses. Surveys consistently show an increasing prevalence of stress, anxiety and depression among post-secondary students, fueled in part by the transition from high-school to university, as well as insecurities about post-graduation employment.

Research shows that students with serious mental health issues are more likely to do poorly in their studies and more likely to drop out of their degree programs, resulting in significant direct costs for post-secondary institutions. Affected students are also likely to have increased rates of health services usage and lower or delayed prospects of sustainable employment, resulting in reduced tax contributions. While these may students require significant mental health supports, the Canadian health care system is facing considerable wait-times for mental health care, and campus counselling resources are severely constrained.

In Ontario, the student-to-counsellor ratio ranged from 1,300 to 4,835 students per counsellor in 2013. Loss of productivity and reductions in health-related quality of life also lead to major economic costs.

You are on an elevator with Prime Minister Justin Trudeau.

Describe the significance of your research from the perspective of the business community.

Businesses cannot afford not to invest in mental health of their employees.

Our program is designed to capture students-at-risk at an early onset of stress, anxiety or depression, making their symptoms easier and less costly to treat. Early detection and assessment are correlated with faster and better outcomes for mental illness in youth, which can lead to cost savings.

Tell us about some of the greatest challenges you have encountered while pursuing your research.

A better perspective of the benefits of our Internet-based clinical intervention would be possible by comparing our treatment group with our wait-list group in terms of their OHIP claims, Grade Point Average (GPA), course drop-out rates, and other such measures. However, many students enrolling in our study may be hesitant to provide our research team with consent for access to such information.

Spotlight on Research 2016 41

Do you bring your research experience into the classroom and, if so, how?

I have taught cost-benefit analysis techniques from the different perspectives of patients, hospitals, health ministries, and governments-at-large. A broader perspective – or pulling out the telescope – requires the consideration of more costs and benefits, over a longer time period.

For example, a larger investment in education may yield health benefits downstream as more educated citizens invest in better nutrition and fitness.

Similarly, healthier citizens may be more productive and pay higher taxes over their lifetimes. It is important to consider all costs and all benefits when making a business case for investing in healthcare.

42 Schulich School of Business

Tell us more about how your York-based research project is expected to contribute to the triple-bottom-line of York University and other post-secondary institutions, as well as the Canadian healthcare system.

We believe that our research program will show significant benefit-to-cost ratio and returns on investments in mental health for three reasons. First, our program is designed to capture students-at-risk at an early onset of stress, anxiety or depression, making their symptoms easier and less costly to treat. Early detection and assessment are correlated with faster and better outcomes for mental illness in youth, which can lead to cost savings. Students diagnosed earlier also have greater chances to develop selfmanagement strategies that meaningfully reduce relapse rates, decreasing the very expensive, chronic nature of many mental disorders. This ‘stitch-in-time’ component of healthcare cost savings is expected to be significant since treatment costs increase exponentially as depression and other mental health illnesses progress from mild to severe to chronic.

Our on-time and on-line assessments will ease the financial burden on the healthcare system that is chronically biased toward providing procedural care but not cognitive care. A second economic benefit will arise because students with better mental health often demonstrate better self-care and ability to manage their physical (or non-mental) health issues. Finally, students with better mental health are more likely to complete their degree programs successfully, join the labour force and become taxpayers in a timely manner.

The economic cost of mental disorders in Canada is estimated to be $51 billion, based on 2003 data, largely driven by productivity losses and reductions in health-related quality of life. Students with serious mental health issues are more likely to drop out of their degree programs, resulting in significant costs to the post-secondary institutions, taxpayers and the Canadian healthcare system. These costs and benefits that extend beyond the healthcare system require a broader scope in our costbenefit analysis. ◆

New & Forthcoming Publications

Books Managing Contemporary Enterprise (10th Edition) Compiled by: Jean Adams Paperback: 162 pages Publisher: York University Press Publication Date: 2015 ISBN: 2819997770142

Bridging the Values Gap: How Authentic Organizations Bring Values to Life By: Ellen Auster and Edward Freeman Hardcover: 256 pages Publisher: Berrett-Koehler Publication Date: 2015 ISBN-10: 1609949560 ISBN-13: 978-1609949563

Consumer Culture Theory: Research in Consumer Behavior, Vol. 17 Edited by: Russell Belk, Jeff Murray, and Anastasia Thyroff Hardcover: 436 pages Publisher: Emerald Group Publishing Limited Publication Date: 2015 ISBN-10: 178560323X ISBN-13: 9781785603235

King William’s Tontine: Why the Retirement Annuity of the Future Should Resemble Its Past By: Moshe A. Milevsky Hardcover: 257 pages Publisher: Cambridge University Press Publication Date: 2015 ISBN-10: 1107076129 ISBN-13: 978-1107076129

44 Schulich School of Business

Developments in Chinese Entrepreneurship: Key Issues and Challenges Edited by: Douglas Cumming, M. Firth, W. Hou, and E. Lee Hardcover: 228 pages Publisher: Palgrave MacMillan Publication Date: 2015 ISBN-10: 1137412496 ISBN-13: 978-1137412492

Sustainable Entrepreneurship in China: Ethics, Corporate Governance, and Institutional Reforms Edited by: Douglas Cumming, W. Hou, E. Lee, and M. Firth Hardcover: 191 pages Publisher: Palgrave MacMillan Publication Date: 2015 ISBN-10: 1137412526 ISBN-13: 978-1137412522

Complex Democracy: Varieties, Crises, and Transformations Edited by: V. Schneider and B. Eberlein Hardcover: 291 pages Publisher: Springer International Publishing Publication Date: 2015 ISBN-10: 331915849X ISBN-13: 978-3319158495

Strategic Management: Creating Competitive Advantages (4th Edition) By: Gregory Dess, G.t. (tom) Lumpkin, Alan Eisner, Gerry Mcnamara, Theodore Peridis, and David Weitzner Paperback: 448 pages Publisher: McGraw-Hill Ryerson Publication Date: 2015 ISBN-10: 1259065766 ISBN-13: 978-1259065767

Pensionize™ Your Nest Egg: How to Use Product Allocation to Create a Guaranteed Income for Life (2nd Revised U.S. & International Edition) By: Moshe A. Milevsky and Alexandra C. Macqueen Hardcover: 256 pages Publisher: John Wiley & Sons Publication Date: 2015 ISBN-10: 1119025257 ISBN-13: 978-1119025252

Business Ethics – Managing Corporate Citizenship and Sustainability in the Age of Globalization (4th Edition) By: Andrew Crane and Dirk Matten Paperback: 632 pages Publisher: Oxford: Oxford University Press Publication Date: 2016 ISBN-10: 0199697310 ISBN-13: 978-0199697311

Corporate Finance (Canadian Edition)

Organizational Behaviour (Canadian Edition)

By: Gordon Roberts, Stephen Ross, Randolph Westerfield, and Jeffrey Jaffe

By: Mary Waller, Mitchell J. Neubert, Bruno Dyck, and Thomas Medcof

Publisher: McGraw-Hill Ryerson Publication Date: 2015 ISBN-10: 1259103595 ISBN-13: 978-1259103599

Paperback: 496 pages Publisher: John Wiley & Sons Publication Date: 2016 ISBN-10: 1118476964 ISBN-13: 978-1118476963

Experiences and Challenges in the Development of the Chinese Capital Market

Stragility: Excelling at Strategic Changes

By: Douglas Cumming, A. Guariglia, W. Hou, and E. Lee Hardcover: 203 pages Publisher: Palgrave MacMillan Publication Date: 2015 ISBN-10: 1137454628 ISBN-13: 9781137454621

By: Ellen R. Auster and Lisa Hillenbrand Hardcover: 168 pages Publisher: Rotman-UTP Publishing Publication Date: 2016 ISBN-10: 1442648058 ISBN-13: 978-1442648050

FORTHCOMING

Sage Handbook of Institutional Theory By: Christine Oliver, Royston Greenwood, Thomas Lawrence, and Renate Meyer Publisher: Oxford: Sage Publications Publication Date: Forthcoming

Review of Marketing Research: Vol. 14: Qualitative Marketing Research Edited by: Russell W. Belk, Jeff Murray, and Anastasia Thyroff Publisher: Emerald Publication Date: Forthcoming

Authorities on Management: Business Schools, Consultants, Media

Oxford Handbook of IPOs

By: Lars Engwall, Matthias Kipping, and Behlül Üsdiken

Edited by: Douglas Cumming and Sofia Johan

Publisher: Routledge Publication Date: Forthcoming

Publisher: Oxford University Press Publication Date: Forthcoming

Oxford Handbook of Sovereign Wealth Funds Edited by: Douglas Cumming, I. Filatoctchev, J. Reinecke, and G. Wood Publisher: Oxford University Press Publication Date: Forthcoming

Dialectics, Paradox and Dualities By: Moshe Farjoun and W. Smith Edited by: A. Langley and H. Tsoukas Publisher: Oxford University Press Publication Date: Forthcoming

Spotlight on Research 2016 45

Journal Articles Those articles that appear in the list of Financial Times of London “Top 50 Academic and Practitioner Journals in Business” are marked by an asterisk.

After all, one of the features that makes a school of business perform at a consistently high level over many decades is the quality of its researchers. Over the past five decades, scholars at Schulich have transformed the way management educators understand core issues in many areas, and have published numerous journal articles.

Annisette, Marcia (2016), “Immigration and Neo-Liberalism: Three Stories and Counter Accounts,” Accounting Auditing and Accountability Journal, 29(1). (with C. Lehman and G. Ageymang) * Aulakh, Preet (2015), “International Search Behavior of Business Group Affiliated Firms: Scope of Institutional Changes and Intragroup Heterogeneity,” Organization Science, 26(5), 1485-1501. (with S. Gubbi and S. Ray) Aulakh, Preet (2015), “Organizational Landscape in India: Historical Development, Multiplicity of Forms and Implications for Practice and Research,” Long Range Planning, 48(6), 291-300. (with R. Chittoor) Aulakh, Preet (2015), “Accumulative and Assimilative Learning, Institutional Infrastructure and Innovation Orientation of Developing Economy Firms,” Global Strategy Journal, 5(2), 133-153. (with R. Chittoor and S. Ray) Aulakh, Preet (2015), “What Drives Overseas Acquisitions by Indian Firms? A Behavioral Risk-Taking Perspective,” Management International Review, 55(2), 255-275. (with R. Chittoor and S. Ray) * Aulakh, Preet (Forthcoming), “Locus of Uncertainty and the Relationship between Contractual and Relational Governance in Cross-border Interfirm Relationships,” Journal of Management. (with M. Abdi) Aulakh, Preet (Forthcoming), “Learning and Knowledge Management In and Out of Emerging Markets,” Journal of World Business. (with S. Kundu and S. Lahiri) Auster, Ellen (2015), “Middle Management Knowledge of Articulated Strategy: Antecedents, Cognitive Accuracy and Awareness,” International Journal of Strategic Change Management, 6(1), 73-99. (with N. Basir, R. Cruikshank, and T. Ruebottom)

46 Schulich School of Business

Auster, Ellen (2016), “Not Only Volkswagen: Organizations and the Need to Bridge the Values Gap,” China Europe Business. (with R.E. Freeman and C.J. Manno) Auster, Ellen (2016), “Bridging the Values Gap,” Developing Leaders Quarterly, 22, 18-22. (with E. Freeman and C. Manno) Auster, Ellen (Forthcoming), “Promotion Bias at the Top: An Intra-Organizational Power Perspective,” Sex Roles. (with A. Prasad) * Bae, Kee-Hong (2015), “Does Increased Competition Affect Credit Ratings? A Reexamination of the Effect of Fitch’s Market Share on Credit Ratings in the Corporate Bond Market,” Journal of Financial and Quantitative Analysis, 50(5), 1011-1035. (with J-K Kang and J. Wang)

Belk, Russell (2015), “Judith Butler on Performativity and Precarity: Exploratory Thoughts on Gender and Violence in India,” Journal of Marketing Management, 31(15-16), 1739-1745. (with A. Joy and R. Bhardwaj) * Belk, Russell (2015), “Status, Caste, and Markets in a Changing Indian Village,” Journal of Consumer Research, 46(3), 472-498. (with R. Vikas and R. Varman) Belk, Russell (2016), “China’s Global Trade History: A Western Perspective,” Journal of China Marketing and Logistics, 6 (1), 1-22.

Belk, Russell (2016), “Extended Self in a Digital World,” Current Opinion in Psychology, 10, 50-54.

Bae, Kee-Hong (2015), “Why Do Firms in Customer-Supplier Relationships Hold More Cash?” International Review of Finance, 15, 489-520. (with J. Wang)

Belk, Russell (2016), “Leaving Pleasantville: Macro/Micro, Public/Private, Conscious/Nonconscious, Volitional/Imposed, and Permanent/ Ephemeral Transformations Beyond Everyday Life,” Journal of Business Research, 69(1), 1-5. (with C.M. Megehee and E. Ko)

Bae, Kee-Hong (2015), “The Cost of Stock Market Integration in Emerging Markets,” Asia-Pacific Journal of Financial Studies, 44, 1-23. (with X. Zhang)

Belk, Russell (Forthcoming), “Cultural Resonance of Global Brands in Brazilian Social Movements,” International Marketing Review. (with M. Suarez)

Belk, Russell (2015), “Measuring Consumer Perceptions of Payment Mode: Scale Development and Validation,” Journal of Economic Psychology, 47, 34-49. (with J. Kahn)

Belk, Russell (Forthcoming), “Videography in Marketing Research: Mixing Art and Science,” Journal of Arts Marketing. (with C. Petr and A. Decrop)

Belk, Russell (2015), “Setting the Conditions for Going Global: Dubai’s Transformation and the Emirati Women,” Journal of Marketing Management, 31(3-4), 317-335. (with H. Cherrier)

Belk, Russell (Forthcoming), “Accept No Substitutes: A Reply to Arnould and Rose,” Marketing Theory.

Belk, Russell (2015), “YouTube on the Couch: Psychoanalytic Challenges in a Digital Age,” Marketing Theory, 15(1), 21-24.

Belk, Russell (2015), “The Rise of Inconspicuous Consumption,” Journal of Marketing Management, 31(7-8), 807-826. (with G. Eckhardt and J. Wilson)

Belk, Russell (Forthcoming), “How Does a Product Gain the Status of a Necessity?

An Analysis of Necessitation Narratives,” Psychology and Marketing. (with J. Braun and M. Zolfagharian) Belk, Russell (Forthcoming), “Sharing without Caring,” Cambridge Journal of Regions, Economy, and Society.

Those articles that appear in the list of Financial Times of London “Top 50 Academic and Practitioner Journals in Business” are marked by an asterisk.

Belk, Russell (Forthcoming), “Qualitative Advertising Research in a Digital Age,” Journal of Advertising.

Belk, Russell (Forthcoming), “A History of Global Consumption, 1500-1800”, (Book review), Consumption Markets and Culture.

Bell, Chris (2016), “Powerlessness, De/ humanization, and Gendered Sensitivity to Procedural Justice,” Journal of Managerial Psychology, 32(2), 570-585. (with C. Khoury) Bell, Chris, (In Press), “Justice, Power and Uncertainty in the Bangladesh Dairy Value Chain,” Organizational Justice: International perspectives and conceptual advances. (with K. McKague) (Editors: C. Moliner, R. Cropanzano, and V. Martinez-Tur) * Bell, Chris (In Press), “Beyond the Particular and Universal: Dependence, Independence, and Interdependence of Context, Justice, and Ethics,” Journal of Business Ethics. (with M. Fortin, T. Nadisic, J. Crawshaw, and R. Cropanzano) * Bell, Chris (In Press), “Deception in Negotiation: Effects of Moral Disengagement and Implicit Beliefs,” Journal of Business Ethics. (with K. Tasa) Cao, Melanie (Forthcoming), “Why Don’t Firms Reward their CEOs with Relative Compensation,” International Journal of Advanced Research in Business. * Chung, Janne (Forthcoming), “The Effect of Cognitive Moral Development on Honesty in Managerial Reporting,” Journal of Business Ethics. (with S. Hsu) Cook, Wade (2015), “Two-Stage Network DEA: When Intermediate Measures can be Treated as Outputs from the Second Stage,” Journal of the Operational Research Society, 66(11), 1868-1877. (with S. Avilés-Sacoto, R. Imanirad, and J. Zhu) Cook, Wade (2015), “Partial Input to Output Impacts in DEA: The Case of DMU-Specific Impacts,” European Journal of Operational Research, 244(3), 837-844. (with S. Avilés-Sacoto, R. Imanirad, and J. Zhu) Cook, Wade (2015), “Time-Staged Outputs in DEA,” OMEGA, 55, 1-9. (with S. Avilés-Sacoto, D. Güemes Castorena, and H. Cantú Delgado) Cook, Wade (2015), “DEA Models for Parallel Systems: Game-Theoretic Approaches,” Asia Pacific Journal of Operations Research, 32(2), 455-468. (with J. Du, J. Huo, and J. Zhu)

Cook, Wade (Forthcoming), “Modeling Efficiency in the Presence of Multiple Partial Input to Output Processes,” Annals of Operations Research. (with W.H. Li, L. Liang, S. Aviles-Sacoto, R. Imanirad, and J. Zhu) Cook, Wade (Forthcoming), “Units Invariant DEA when Weight Restrictions are Present: Ecological Performance of US Electricity Industry,” Annals of Operations Research. (with J. Zhu, and J. Du) Cook, Wade (Forthcoming), “Bounded and Discrete Data and Likert Scales in Data Envelopment Analysis: Application to Regional Energy Efficiency in China,” Annals of Operations Research. (with J. Zhu and J. Du) * Cragg, Wesley (Forthcoming), “The Ethics of Mining,” Journal of Business Ethics.

Crane, Andrew (2015), “Benefit Corporation Legislation and the Emergence of a Social Hybrid Category,” California Management Review, 57(3), 13-35. (with H. Rawhouser and M.E. Cummings) * Crane, Andrew (2015), “Financializing Stakeholder Claims,” Journal of Management Studies, 52(7), 878-906. (with C. Graham and D. Himick) Crane, Andrew (2015), “A New Era for Business & Society,” Business & Society, 54(1), 3-8. (with D. Matten, I. Henriques, and B. Husted) Crane, Andrew (2015), “Defining the Scope of Business & Society,” Business & Society, 54(4), 427-434. (with D. Matten, I. Henriques, and B. Husted) Crane, Andrew (2016), “Publishing Country Studies in Business & Society. Or, Do We Care About CSR in Mongolia?” Business & Society, 55(1), 3-10. (with D. Matten, I. Henriques, and B. Husted) * Crane, Andrew (Forthcoming), “Enhancing the Impact of Cross-Sector Partnerships: Four Impact Loops for Channelling Partnership Studies,” Journal of Business Ethics. (with R. van Tulder, M.M. Seitanidi, and S. Brammer) * Crane, Andrew (Forthcoming), “Researching CSR Communication: Themes, Opportunities and Challenges,” Journal of Management Studies. (with S. Glozer) Cumming, Douglas (2015), “Cross Border LBOs,” Journal of Banking and Finance, 50, 69-80. (with J. Cao, M. Qian, and X. Wang)

* Cumming, Douglas (2015), “The Role of Agents in Private Entrepreneurial Finance,” Entrepreneurship Theory and Practice, 39(2), 345-374. (with J.A. Pandes and M.J. Robinson) Cumming, Douglas (2015), “Corporate Defaults, Workouts and the Rise of the Distressed Asset Investment Industry,” Business History Review, 89(2), 305-330. (with G. Fleming) Cumming, Douglas (2015), “High Frequency Trading and End-of-Day Price Dislocation,” Journal of Banking and Finance, 59, 330-349. (with M. Aitken and F. Zhan) Cumming, Douglas (2015), “One-Child Policy, Dynastic Management and Discontinuity of Family Firms in China,” Journal of Corporate Finance, 33, 317-329. (with J. Cao and X. Wang) Cumming, Douglas (2015), “Publicly Funded Business Advisory Services and Entrepreneurial Internationalization,” International Small Business Journal, 33, 824-839. (with E. Fischer and T. Peridis) * Cumming, Douglas (2015), “Signaling in Equity Crowdfunding,” Entrepreneurship Theory and Practice, 39(4), 955-980. (with G.K.C. Ahlers, C. Guenther, and D. Schweizer) Cumming, Douglas (2015), “The Scope of International Mutual Fund Outsourcing: Fees, Performance and Risks,” Journal of International Financial Markets, Institutions and Money, 38, 185-199. (with A. Schwienbacher and F. Zhan) Cumming, Douglas (2015), “Are Hedge Funds Registered in Delaware Different?” Journal of Corporate Finance, 35, 232-246. (with N. Dai and S.A. Johan) * Cumming, Douglas (2015), “Gender Diversity and Securities Fraud,” Academy of Management Journal, 58(5). (with L. Tak Yan and O.M. Rui) * Cumming, Douglas (2016), “Sustainable and Ethical Entrepreneurship, Corporate Finance and Governance, and Institutional Reform in China,” Journal of Business Ethics, 134(4), 505-508. (with W. Hou and E. Lee) * Cumming, Douglas (2016), “Do International Investors Enhance Private Firm Value? Evidence from Venture Capital,” Journal of International Business Studies, 46(4). (with A. Knill and K. Syvrud)

Spotlight on Research 2016 47

Journal Articles cont’d Those articles that appear in the list of Financial Times of London “Top 50 Academic and Practitioner Journals in Business” are marked by an asterisk.

* Cumming, Douglas (2016), “Does the External Monitoring Effect of Analysts Deter Corporate Fraud in China?” Journal of Business Ethics, 134(4) (with J. Chen, W. Hou, and E. Lee) Cumming, Douglas (2016), “‘Cleantech’ Venture Capital Around the World,” International Review of Financial Analysis, 44, 86-97. (with I. Henriques and P. Sadorsky) Cumming, Douglas (Forthcoming), “Political Instability, Access to Private Debt, and Innovation Investment in China,” Emerging Markets Review. (with Y. Yu) Cumming, Douglas (Forthcoming), “Do Banks or VCs Spur Small Firm Growth?” Journal of International Financial Markets, Institutions, & Money. (with R. Cole and D. Li)

Cumming, Douglas (Forthcoming), “Governmental Venture Capital for Innovative Young Firms,” Journal of Technology Transfer. (with M.G. Colombo and S. Vismara) Cumming, Douglas (Forthcoming), “Introduction to Business History in China,” Business History. (with A. Guariglia, W. Hou, and E. Lee) Cumming, Douglas (Forthcoming), “Media Coverage and Foreign Share Discount in China,” European Journal of Finance. (with R. Dixon, W. Hou, and E. Lee) Cumming, Douglas (Forthcoming), “Taking China Private: The Carlyle Group, Leveraged Buyouts and Financial Capitalism in Greater China,” Business History. (with G. Fleming)

* Cumming, Douglas (Forthcoming), “A Review of Business Ethics in China,” Journal of Business Ethics. (with W. Hou and E. Lee)

Cumming, Douglas (Forthcoming), “The Value of Home Country Governance for Cross-Listed Stocks,” European Journal of Finance. (with W. Hou and E. Wu)

Cumming, Douglas (Forthcoming), “Cameras Tracking Shoppers: The Economics of Retail Video Surveillance,” Eurasian Business Review. (with S.A. Johan)

Cumming, Douglas (Forthcoming), “Trade Size, High Frequency Trading, and Co-location around the World,” European Journal of Finance. (with M. Aitken and F. Zhan)

* Cumming, Douglas (Forthcoming), “CEO Accountability for Corporate Fraud: Evidence from the Split Share Structure Reform in China,” Journal of Business Ethics. (with J. Chen, W. Hou, and E. Lee)

Cumming, Douglas (Forthcoming), “Venture’s Economic Impact in Australia,” Journal of Technology Transfer. (with S.A. Johan)

Cumming, Douglas (Forthcoming), “Developing China’s Capital Market,” European Journal of Finance. (with A. Guariglia, W. Hou, and E. Lee)

Cumming, Douglas (Forthcoming), “Open Business Models and Venture Capital Finance,” Industry and Corporate Change. (with M.G. Colombo, C. Rossi Lamastra, A. Mohammadi, and A. Wadhwa)

Cumming, Douglas (Forthcoming), “Exchange Trading Rules, Surveillance, and Insider Trading,” Journal of Corporate Finance. (with M. Aitken and F. Zhan)

Cumming, Douglas (Forthcoming), “Exchange Trading Rules, Governance, and the Trading Location of Cross-Listed Stocks,” European Journal of Finance. (with W. Hou and E. Wu)

Cumming, Douglas (Forthcoming), “Exploring Entrepreneurial Activity and Small Business Issues in the Chinese Economy,” International Small Business Journal. (with A. Guariglia, W. Hou, and E. Lee)

Cumming, Douglas (Forthcoming), “Financial Market Misconduct and Agency Conflicts: A Synthesis and Future Directions,” Journal of Corporate Finance. (with B. Dannhauser and S.A. Johan)

Cumming, Douglas (Forthcoming), “Firm Size, Institutional Quality and the Impact of Securities Regulation,” Journal of Comparative Economics. (with A. Knill and N. Richardson)

* Cumming, Douglas (Forthcoming), “Entrepreneurial Litigation and Venture Capital Finance,” Journal of Financial and Quantitative Analysis. (with B. Haslem and A. Knill)

Cumming, Douglas (Forthcoming), “Government and Independent Venture Capital Investments in Europe: A Firm-Level Performance Analysis,” Journal of Corporate Finance. (with L. Grilli and S. Murtinu)

Cumming, Douglas (Forthcoming), “Entrepreneurship, The Internet, and Fraud: Managerial and Policy Implications,” California Management Review. (with S.A. Johan and D. Schweizer)

48 Schulich School of Business

* Cumming, Douglas (Forthcoming), “The Role of Financial and Legal Institutions in International Corporate Governance,” Journal of International Business Studies. (with I. Filatoctchev, A. Knill, L. Senbet, and D. Reeb) Darke, Peter (In Press), “Feeling Close From Afar: The Role of Psychological Distance in Offsetting Distrust in Unfamiliar Online Retailers,” Journal of Retailing. (with M.K. Brady, R.L. Benedicktus, and A.E. Wilson) * Deutsch, Yuval (2015), “Understanding Motivation and Social Influence in Stakeholder Prioritization,” Organization Studies, 36(10), 1337-1360. (with D. Weitzner) Diamant, Adam (2015), “Patient and Operational Factors Affecting Wait Times in a Bariatric Surgery Program in Toronto.” Canadian Medical Association Journal, 3(3), E331-E337. (with J. Milner and F. Quereshy) * Dolbec, Pierre (2015), “Re-fashioning a Field?

Connected Consumers and Institutional Dynamics in Aestheticized Markets,” Journal of Consumer Research, 41(6), 1447-1468. (with E. Fischer) Eberlein, Burkard (Forthcoming), “The Interactive Dynamics of Transnational Business Governance: A Challenge for Transnational Legal Theory,” Transnational Legal Theory. (with S. Wood, K. Abbott, J. Black, and E. Meidinger) Everett, Jeffery (2015), “Praxis, Doxa and Research Methods: Reconsidering Critical Accounting,” Critical Perspectives on Accounting, 32(1), 37-44. (with D. Neu, A.S. Rahaman, and G. Maharaj) Everett, Jeffery (2015), “Preventing Corruption within Government Procurement: Constructing the Disciplined and Ethical Subject,” Critical Perspectives on Accounting, 28(1), 49-61. (with D. Neu and A.S. Rahaman) Farjoun, Moshe (2015), “Changing to Remain the Same: Dynamic Conservatism’ and Selznick’s Institutional Pragmatism,” in ‘Reinfusing Values: Institutions and Ideals’, A Special Issue Honoring Philip Selznick (Matt Kraatz, editor), Research in the Sociology of Organizations. (with C. Ansell and A. Boin) * Farjoun, Moshe (2015), “Pragmatism in Organization Studies: Meeting the Challenges of a Dynamic and Complex World,” 26(6).

Organization Science. (with C. Ansell and A. Boin)

Those articles that appear in the list of Financial Times of London “Top 50 Academic and Practitioner Journals in Business” are marked by an asterisk.

* Fischer, Eileen (2015), “Re-Fashioning a Field?

Connected Consumers and Institutional Dynamics in Aestheticized Markets,” Journal of Consumer Research, 41(6), 1447-1468. (with P.Y. Dolbec)

* Johan, Sofia (2016), “Institutional Investors, Political Connections and Incidence of Regulatory Enforcement Against Corporate Fraud,” Journal of Business Ethics, 134(4). (with W. Wu and O. Rui)

* Fischer, Eileen (2015), “Things Fall Apart: The Dynamics of Brand Audience Dissipation,” Journal of Consumer Research, 41, 1228-1251. (with M.A. Parmentier)

* Johan, Sofia (2016), “Is Corporate Governance in China Related to Performance Persistence?”

Journal of Business Ethics, 134(4). (with L.H. Hass and D. Schweizer)

Fischer, Eileen (2015), “The Nature and Implications of Consumers’ Experiential Framings of Failure in High-Risk Service Contexts,” Journal of Service Research, 18(3), 303-317. (with L. Tuncay Zayer and C. Otnes)

* Johan, Sofia (Forthcoming), “Determinants of Cross-Border Venture Capital Investments in Emerging and Developed Economies: The Effects of Relational and Institutional Trust,” Journal of Business Ethics. (with D. Hain and D. Wang)

* Fischer, Eileen (Forthcoming), “Deepening the Dialogue: New Directions for the Evolution of Effectuation Theory. (Dialogue essay),” Academy of Management Review. (with A.R. Reuber and N. Coviello)

Johan, Sofia (Forthcoming), “Entrepreneurship, The Internet, and Fraud: Managerial and Policy Implications,” California Management Review. (with D.J. Cumming and D. Schweizer)

Fischer, Eileen (2015), “Publicly Funded Business Advisory Services and Entrepreneurial Internationalization,” International Small Business Journal, 33, 824-839. (with D.J. Cumming and T. Peridis) * Graham, Cameron (2015), “Financializing Stakeholder Claims,” Journal of Management Studies, 52(7), 878-906. (with A. Crane and D. Himick) Henriques, Irene (2015), “A New Era for Business & Society,” Business & Society, 54(1), 3-8. (with D. Matten, A. Crane, and B. Husted) Henriques, Irene (2015), “Defining the Scope of Business & Society,” Business & Society, 54(4), 427-434. (with D. Matten, A. Crane, and B. Husted) Henriques, Irene (2016), “Publishing Country Studies in Business & Society: Or, Do We Care about CSR in Mongolia?” Business & Society, 55(1), 3-10. (with A. Crane, B. Husted, and D. Matten) Henriques, Irene (2016), “‘Cleantech’ Venture Capital Around the World,” International Review of Financial Analysis, 44, 86-97. (with D.J. Cumming and P. Sadorsky) * Hsu, Sylvia (Forthcoming), “The Effect of Cognitive Moral Development on Honesty in Managerial Reporting,” Journal of Business Ethics. (with J. Chung) * Johan, Sofia (2016), “The Effectiveness of Public Enforcement: Evidence from the Resolution of Tunnelling in China,” Journal of Business Ethics, 134(4). (with L.H. Hass and M.A. Müller)

* Kamstra, Mark (2015), “Seasonal Variation in Treasury Returns,” Critical Finance Review, 4(1), 45-115. (with L.A. Kramer and M.D. Levi) Kamstra, Mark (2016), “The Sluggish and Asymmetric Reaction of Life Annuity Prices to Chances in Interest Rates,” Journal of Risk and Insurance, In Press. (with N. Charupat and M.A. Milevsky) Kamstra, Mark (Forthcoming), “Seasonal Asset Allocation: Evidence from Mutual Fund Flows,” Journal of Financial and Quantitative Analysis. (with L.A. Kramer, M.D. Levi, and R. Wermers) * Kanagaretnam, Kiridaran (2015), “Religiosity and Earnings Management: International Evidence from the Banking Industry,” Journal of Business Ethics, 132, 277-296. (with G.J. Lobo and C. Wang)

Johan, Sofia (Forthcoming), “Cameras Tracking Shoppers: The Economics of Retail Video Surveillance,” Eurasian Business Review. (with D.J. Cumming)

Kanagaretnam, Kiridaran (2015), “Religiosity and Risk-Taking in International Banking,” Journal of Behavioral and Experimental Finance, 7, 42-59. (with G.J. Lobo, C. Wang, and D. Whalen)

Johan, Sofia (Forthcoming), “Venture’s Economic Impact in Australia,” Journal of Technology Transfer. (with D.J. Cumming)

Kanagaretnam, Kiridaran (2015), “Exercising Empowerment in an Investment Environment,” Journal of Behavioral and Experimental Finance, 7, 33-41. (with M. Gomaa, S. Mestelman, and M. Shehata)

* Johnston, David (2015), “Are Safety and Operational Effectiveness Contradictory Requirements: The Roles of Routines and Relational Coordination,” Journal of Operations Management, 36, 1-14. (with R. Klassen, M. Pagell, S. Sharma, and A. Shevchenko) Johnston, David (2015), “Supply Chain Relationships as a Context for Learning Leading to Innovation,” International Journal of Logistics Management, 26(3), 543-567. (with D. Knoppen and M.J. Sáenz) Johnston, David (2016), “Managing Safety and Operations: The Effect of Joint Management System Practices on Safety and Operational Outcomes.” Journal of Occupational and Environmental Medicine. (with E. Tompa, Institute for Work and Health, M. Pagell, R. Klassen, A. Shevchenko, and S. Sharma) * Johnston, David (2016), “Twenty First Century Production Still Starts With Safety,” Sloan Management Review, 57(2). (with M. Pagell and A. Veltri) Joshi, Ashwin (2016), “When Does Customer Orientation Hinder (Help) Radical Product Innovation? The Role of Organizational Rewards,” Journal of Product Innovation Management, 33(4), 435-454.

Kanagaretnam, Kiridaran (2016), “National Culture and Internal Control Weaknesses around the World,” Journal of Accounting, Auditing & Finance, 31, 28-50. (with G.J. Lobo, C. Ma, and J. Zhou) Kanagaretnam, Kiridaran (2016), “CDS Pricing and Accounting Disclosures: Evidence from U.S. Bank Holding Corporations during the Recent Credit Crisis,” Journal of Financial Stability, 22, 33-44. (with G. Zhang and S. Zhang) Kanagaretnam, Kiridaran (2016), “Discretion in Loan Loss Allowance, Risk Taking and Earnings Management,” Accounting & Finance, conditionally accepted. (with J.Y. Jin and G.J. Lobo) * Kanagaretnam, Kiridaran (Forthcoming), “Linking Societal Trust and CEO Compensation,” Journal of Business Ethics. (with R. Khokar and A. Mawani) * Kanagaretnam, Kiridaran (Forthcoming), “Cross-Country Evidence on the Role of Independent Media in Constraining Tax Aggressiveness,” Journal of Business Ethics. (with J. Lee, C.Y. Lim, and G.J. Lobo)

Spotlight on Research 2016 49

Journal Articles cont’d Those articles that appear in the list of Financial Times of London “Top 50 Academic and Practitioner Journals in Business” are marked by an asterisk.

Karambayya, Rekha (Forthcoming), “The Shadow of History: Situated Dynamics of Trust in Dual Executive Leadership,” Leadership. (with W. Reid) * Kecskés, Ambrus (Forthcoming), “Do Earnings Estimates Add Value to Sell-side Analysts’ Investment Recommendations?” Management Science. (with R. Michaely and K. Womack) Kipping, Matthias (2015), “From Potential to Profit: Multinationals in Emerging Markets in Historical Perspective,” Management & Organizational History, 10(2). (with C. Lubinski) Kipping, Matthias (2015), “New Business Histories! Plurality in Business History Research Methods,” Business History, 57(1), 30-40. (with S. Decker and R. Daniel Wadhwani) Kipping, Matthias (2015), “Translating Potential into Profits: Foreign Multinationals in Emerging Markets since the Nineteenth Century: Introduction,” Management & Organizational History, 10(2), 1-10. (with C. Lubinski) * Kistruck, Geoffrey (2015), “The Importance of Client Heterogeneity in Predicting Make-or-Buy Decisions,” Journal of Operations Management, 33-34, 97-110. (with S. Morris, J. Webb, and C. Stevens) * Kistruck, Geoffrey (Forthcoming), “Cooperation vs. Competition: Alternative Goal Structures for Motivating Groups in a Resource Scarce Environment,” Academy of Management Journal. (with R. Lount, B. Smith, B. Bergman, and T. Moss) * Kistruck, Geoffrey (Forthcoming), “The Enabling and Constraining Effects of Social Ties in the Process of Institutional Entrepreneurship,” Organization Studies. (with I. Qureshi and B. Bhatt) Kristal, Murat (Forthcoming), “Sensing Abnormal Resource Flow Using Adaptive Limit Process Charts in a Complex Supply Network,” Decision Sciences. (with W.J. Sawaya, S.D. Pathak, and J.M. Day) Kristal, Murat (Forthcoming), “Impact of Operational and Marketing Capabilities on Firm Performance: Evidence from Economic Growth and Downturns,” International Journal of Production Economics. (with M.U. Ahmed and M. Pagell) Lazar, Fred (2015), “Regulator’s Determination of Return on Equity in the Absence of Public Firms: The Case of Automobile Insurance in Ontario,” Risk Management and Insurance Review, 18(2), 199-216. (with E. Prisman)

50 Schulich School of Business

* Lévesque, Moren (2015), “Towards a Theory of Entrepreneurial Rents: A Simulation of the Market Process,” Strategic Management Journal, 36(1), 79-96. (with M. Keyhani and A. Madhok) * Lévesque, Moren (Forthcoming), “The Equilibrating and Disequilibrating Effects of Entrepreneurship: Revisiting the Central Premises,” Strategic Entrepreneurship Journal. (with M. Keyhani) * Lévesque, Moren (Forthcoming), “A Theoretical Exploration of How Firms and their Stakeholders Are Delaying Sustainable Business Model Change,” Journal of Management Studies. (with A. Shevchenko and M. Pagell) Lévesque, Moren (Forthcoming), “The NonCompensatory Relationship between Risk and Return in Business Angel Investment Decision Making,” Venture Capital. (with S. Jeffrey and A. Maxwell) * Li, Zhepeng (Lionel) (Forthcoming), “Utilitybased Link Recommendation for Online Social Networks,” Management Science. (with X. Fang, X. Bai, and O.R. Liu Sheng) * Madhok, Anoop (2015), “Towards a Theory of Entrepreneurial Rents: A Simulation of the Market Process,” Strategic Management Journal, 36(1), 76-96. (with M. Keyhani and M. Lévesque) Madhok, Anoop (2015), “A Critical Assessment of Firm Advantage and Implications for Multinationals and Multinationalizing Firms,” Journal of World Business, 50, 627-630.

Madhok, Anoop (2015), “Understanding Alliance Evolution and Transformation: Adjustment Costs and the Economics of Resource Value,” Strategic Organization, 13(2), 91-116. (with M. Keyhani and B. Bossink) * Madhok, Anoop (Forthcoming), “Alliance Portfolio Configuration and Firm Performance: A Study of Resource Ambidexterity in the Global Airline Industry,” Strategic Management Journal. (with U. Wassmer and S. Li) Matten, Dirk (2015), “A New Era for Business & Society,” Business & Society, 54(1), 3-8. (with A. Crane, I. Henriques, and B. Husted) Matten, Dirk (2015), “Defining the Scope of Business & Society,” Business & Society, 54(4), 427-434. (with A. Crane, I. Henriques, and B. Husted)

Matten, Dirk (2016), “Publishing Country Studies in Business & Society. Or, Do We Care About CSR in Mongolia?” Business & Society, 55(1), 3-10. (with A. Crane, I. Henriques, and B. Husted) * Mawani, Amin (Forthcoming), “Linking Societal Trust and CEO Compensation,” Journal of Business Ethics. (with R. Khokar and K. Kanagaretnam) McMillan, Charles (2015), “Wicked Problems and the Misalignment of Strategic Management Design,” Journal of Business Strategy, 26. (with J. Overall) McMillan, Charles (2015), “On Docility: A Research Note on Herbert Simon’s Social Learning Theory,” Journal of Management History, 16.

McMillan, Charles (2015), “Impacts of Price Incentives, Costs, and Management Awareness on Maize Supply in Two Regions of the United States,” International Journal of Trade, Economics, and Finance, 6(5). (with X. Li) McMillan, Charles (2015), “From Simple to Complex to Catastrophic Failure: Towards a Theory of Organizational Failure,” Journal of Long Range Planning. (with J. Overall) Milevsky, Moshe (2015), “A Glide Path for Target Date Annuitization,” Journal of Retirement, 3(1), 27-37. (with H. Huang and V. Young) Milevsky, Moshe (2015), “Optimal Retirement Income Tontines,” Insurance: Mathematics and Economics, 64(1), 91-105. (with T.S. Salisbury) * Milevsky, Moshe (2016), “Optimal Purchasing of Deferred Income Annuities When Payout Yields are Mean-Reverting,” Review of Finance. (with H. Huang and V. Young) Milevsky, Moshe (2016), “The Sluggish and Asymmetric Reaction Of Life Annuity Prices To Changes in Interest Rates,” Journal of Risk and Insurance, In Press. (with N. Charupat and M. Kamstra) Morgan, Gareth (2015), “Re-Imagining Images of Organization: A Conversation,” Journal of Management Inquiry, 24. (with C. Oswick and D. Grant) * Morgan, Gareth (2016), “Commentary on the Special Issue, “Beyond Gareth Morgan’s Eight Metaphors,” Human Relations.

Those articles that appear in the list of Financial Times of London “Top 50 Academic and Practitioner Journals in Business” are marked by an asterisk.

Neu, Dean (2015), “Praxis, Doxa and Research Methods: Reconsidering Critical Accounting,” Critical Perspectives on Accounting, 32(1), 37-44. (with J. Everett, A.S. Rahaman, and G. Maharaj) Neu, Dean (2015), “Preventing Corruption within Government Procurement: Constructing the Disciplined and Ethical Subject,” Critical Perspectives on Accounting, 28(1). (with J. Everett and A.S. Rahaman) * Ng, Lilian (Forthcoming), “Foreign Investor Heterogeneity and Stock Liquidity Around the World,” Review of Finance. (with F. Wu, J. Yu, and B. Zhang) Ng, Lilian (Forthcoming), “Do Managers Matter for Corporate Innovation?” Journal of Corporate Finance, 36, 206-229. (with C.H. Cho, S. Hsu, and J. Halford) * Noseworthy, Theodore (2015), “Does Dirty Money Influence Product Valuations?” Journal of Consumer Psychology, 25 (April), 304-310. (with C. Galoni) * Noseworthy, Theodore (2016), “Asymmetric Consequences of Radical Innovations on Category Representations of Competing Brands,” Journal of Consumer Psychology, 26 (January), 29-39. (with C.K. Bagga and N. Dawar) * Noseworthy, Theodore (Forthcoming), “Too Exciting to Fail, Too Sincere to Succeed: The Effects of Brand Personality on Sensory Disconfirmation,” Journal of Consumer Research. (with A. Sundar) * Noseworthy, Theodore (Forthcoming), “Isolated Environmental Cues and Product Efficacy Penalties: The Color Green and Eco-labels,” Journal of Business Ethics. (with E. Pancer and L. McShane) * Noseworthy, Theodore (Forthcoming), “Play with Sensory Marketing and You May Be Playing Russian Roulette with your Brand,” Harvard Business Review. (with A. Sundar) * Oliver, Christine (2015), “Building the Social Structure of a Market,” Organization Studies, 36(8), 1063-1093. (with K. McKague and C. Zietsma) Oliver, Christine (2015), “Radical Settlements to Conflict: Conflict Management and Its Implications for Institutional Change,” Journal of Management and Organization, 21, 471-494. (with W. Helms)

* Oliver, Christine (Forthcoming), “Beyond Differentiation and Integration: The Challenges of Managing Internal Complexity in Federations,” Organization Studies. (with M. Toubiana)

Smithin, John (2016), “Endogenous Money, Fiscal Policy, Interest Rates and the Exchange Rate Regime: A Comment on Palley,” Review of Political Economy.

Peridis, Theodore (2015), “Toward an Integrated Theory of Sustainability,” Journal of Business and Economics. (with D. Mirchandani)

* Tan, Hongping (2015), “Geographic Proximity and IPO Firm Coverage,” Journal of Accounting and Economics, 59(1), 41-59. (with P.C. O’Brien)

Peridis, Theodore (2015), “Publicly Funded Business Advisory Services and Entrepreneurial Internationalization,” International Small Business Journal, 33, 824-839. (with D.J. Cumming and E. Fischer) Prisman, Eliezer (2015), “Real Estate Transactions in Ancient Israel: Excavating Imbedded Options Utilizing Modern Finance,” Financial History Review, 22(1), 117-131.

Prisman, Eliezer (2015), “Regulator’s Determination of Return on Equity in the Absence of Public Firms: The Case of Automobile Insurance in Ontario,” Risk Management and Insurance Review, 2, 18(2), 199-216. (with F. Lazar) * Qu, Sandy (Forthcoming), “Popularizing a Management Accounting Idea: The Case of the Balanced Scorecard,” Contemporary Accounting Research. (with D.J. Cooper and M. Ezzamel) Sadorsky, Perry (2016), “Forecasting Canadian Mortgage Rates,” Applied Economics Letters, 23(11), 822-825.

Sadorsky, Perry (2016), “The Impact of Oil Shocks on Exchange Rates: A Markov-switching approach,” Energy Economics, 54, 11-23. (with S.A. Basher and A. Haug) Sadorsky, Perry (2016), “Hedging Emerging Market Stock Prices with Oil, Gold, VIX, and Bonds: A Comparison Between DCC, ADCC and GO-GARCH,” Energy Economics, 54, 235-247. (with S.A. Basher) Sadorsky, Perry (2016), “‘Cleantech’ Venture Capital Around the World,” International Review of Financial Analysis, 44, 86-97. (with I. Henriques and D.J Cumming) * Shum, Pauline (Forthcoming), “Intraday Share Price Volatility and Leveraged ETF Rebalancing,” Review of Finance. (with A. Rodier, E. Hayanto, and W. Hejazi) Smithin, John (2016), “Some Puzzles about Money, Finance, and the Monetary Circuit,” Cambridge Journal of Economics.

Tan, Justin (2015), “When Does Investment in Political Ties Improve Firm Performance? The Contingent Effect of Innovation Activities,” Asia Pacific Journal of Management, 1-25. (with J. Zhang and P.K. Wong) * Tan, Justin (Forthcoming), “Donate Money, But Whose Money? Empirical Evidence about Ultimate Control Rights, Agency Problems and Corporate Philanthropy in China,” Journal of Business Ethics. (with Y. Tang) * Tan, Justin (Forthcoming), “Fit by Adaptation or Fit by Founding? A Comparative Study of Existing and New Entrepreneurial Cohorts in China,” Strategic Management Journal. (with C. Zhang and D. Tan) Tan, Justin (Forthcoming), “Minding the Gender Gap: Social Networks and Internet Correlates of Business Performance among Chinese Canadian Entrepreneurs,” American Behavioral Scientists. (with W. Chen) * Tan, Justin (Forthcoming), “Network Closure or Structural Hole? The Conditioning Effects of Network-Level Social Capital on Innovation Performance,” Entrepreneurship Theory and Practice. (with H. Zhang and L. Wang) Tan, Justin (Forthcoming), “Post Entry Diversification in a Shifting Institutional Environment: How Strategy Patterns Differ for De Novo and Corporate Spin-off Ventures,” Journal of Small Business Management. (with X. Xie and H. Neill) Tan, Justin (Forthcoming), “Multiple Levels of Trust and Interfirm Dependence on Supply Chain Coordination: A Framework for Analysis,” Creating and Delivering Value in Marketing Developments in Marketing Science, 122-128. (with J. Payne) * Tasa, Kevin (In Press), “Effects of Implicit Negotiation Beliefs and Moral Disengagement on Negotiator Attitudes and Deceptive Behaviour,” Journal of Business Ethics. (with C. Bell)

Spotlight on Research 2016 51

Journal Articles cont’d Those articles that appear in the list of Financial Times of London “Top 50 Academic and Practitioner Journals in Business” are marked by an asterisk.

* Thorne, Linda (2015), “Introduction to Special Issue on Tone at the Top,” Journal of Business Ethics, 126(1), 1-2. (with S. Gunz) Thorne, Linda (2015), “Groupcentric Budget Goals, Budget-Based Incentive Contracts, and Additive Group Tasks,” Review of Accounting and Finance, 14(2), 189-206. (with J. Farrar and T. Libby) Thorne, Linda (2015), “Standalone Corporate Social Responsibility Reports and Stock Market Returns,” Research on Professional Responsibility and Ethics in Accounting, 19, 1-26. (with W. LaGore and L. Mahoney) * Thorne, Linda (Forthcoming), “A Comparison of Canadian and U.S. CSR Strategic Alliances, CSR Reporting, and CSR Performance: Insights into Implicit–Explicit CSR,” Journal of Business Ethics. (with L. Mahoney, K. Gregor, and S. Convery) * Thorne, Linda (Forthcoming), “Introduction to Thematic Symposium on Accounting Professionalism,” Journal of Business ethics. (with S. Gun) * Thorne, Linda (Forthcoming), “Discussion of ’A Theoretical Framework of Professional Accountants’ Identity Formation and Directions for Future Research,” Journal of Business ethics.

Tian, Yisong (2015), “Implied Binomial Trees with Cubic Spline Smoothing,” Journal of Derivatives, 22, 40-55.

Tian, Yisong (2015), “Executive Compensation and the Corporate Spin-off Decision,” Journal of Economics and Business, 77, 94-117. (with Y. Feng and D. Nandy) * Tsang, Albert (2015), “The Effect of Mandatory IFRS Adoption on International Cross-listings,” The Accounting Review, 90(4), 1395-1435. (with L. Chen and J. Ng) * Tsang, Albert (2015), “Corporate Philanthropy, Ownership Types and Financial Transparency,” Journal of Business Ethics, 130, 851-867. (with C. Qian and X. Gao) Tsang, Albert (2016), “Audited Financial Reporting and Corporate Social Responsibility (CSR) Disclosure,” Journal of Management Accounting Research. (with L. Chen, B. Srinidhi, and W. Yu) Tsang, Albert (Forthcoming), “Corporate Social Responsibility and Stakeholder Governance Around the World,” Global Finance Journal. (with H. Jo and M. Soon)

52 Schulich School of Business

* Tsang, Albert (Forthcoming), “Management Forecast and Cost of Capital: International Evidence,” Review of Accounting Studies. (with Y. Cao, L. Myers, and G. Yang) Waller, Mary (2015), “Cardiac Resuscitation Events: One Eyewitness is not Enough,” Pediatric Critical Care Medicine, 16(4), 335-342. (with L. Su, S. Kaplan, A. Watson, M. Jones, and D. Wessel) Waller, Mary (2015), “Organizational Behavior: A Brief Overview and Safety Orientation,” Current Problems in Pediatric and Adolescent Health Care, 45, 378-381.

Waller, Mary (2015), “Exploring the Hidden Profile Paradigm: A Literature Review and Analysis,” Small Group Research, 46, 489-535. (with S. Sohrab and S. Kaplan) Waller, Mary (In Press), “Conceptualizing Emergent States: A Strategy to Advance the Study of Group Dynamics,” Academy of Management Annals. (with G.A. Okhuysen and M. Saghafian)

Wright, Lorna (Forthcoming), “Research on International Undergraduate Students: Validation of Student Adjustment to College Scale (SACQ) and a Developmental Sequence Model to University Adjustment (DSMUA).” (with S. Chavoshi and M. Wintre) Yeomans, Julian Scott (2015), “A Parametric Testing of the Firefly Algorithm in the Determination of the Optimal Osmotic Drying Parameters of Mushrooms,” Journal of Artificial Intelligence and Soft Computing Research, 4(4), 257-266.

Yeomans, Julian Scott (2015), “Computing Optimal Food Drying Parameters Using the Firefly Algorithm,” Journal on Computing, 4(1), 40-44.

Yeomans, Julian Scott (Forthcoming), “Environmental Decision-Making Under Uncertainty Using a Biologically-Inspired Simulation-Optimization Algorithm for Generating Alternative Perspectives,” International Journal of Business Innovation and Research. (with R. Imanirad and X-S. Yang)

Waller, Mary (In Press), “Team Adaptiveness in Dynamic Contexts: Contextualizing the Roles of Interaction Patterns and Inprocess Planning,” Group & Organization Management. (with Z. Lei, J. Hagen, and S. Kaplan)

* Zietsma, Charlene (2015), “I Need Time!

Exploring Pathways to Compliance under Institutional Complexity,” Academy of Management Journal, 58(1), 85-110. (with A.G.M. Raaijmakers, P.A.M. Vermeulen, and M.T.H. Meeus)

Waller, Mary (Forthcoming), “Using Video in Systematic Behavioral Observation: One Quantitative Approach,” Organizational Research Methods. (with S. Kaplan)

* Zietsma, Charlene (2015), “Building the Social Structure of a Market,” Organization Studies, 36(8), 1063-1093. (with K. McKague and C. Oliver)

* Weitzner, David (2015), “Understanding Motivation and Social Influence in Stakeholder Prioritization,” Organization Studies, 36(10), 1337-1360. (with Y. Deutsch) Wright, Lorna (2015), “Acculturation Motivation in International Student Adjustment and Permanent Residency Intentions: A MixedMethods Approach,” Journal of Emerging Adulthood. (with S. Dentakos and M. Wintre) Wright, Lorna (2015), “Are International Undergraduate Students Emerging Adults?

Motivations for Studying Abroad,” Journal of Emerging Adulthood. (with M. Wintre, A. Kandasamy, and S. Chavoshi) Wright, Lorna (2015), “A Developmental Sequence Model to University Adjustment of International Undergraduate Students (DSMUA),” Journal of Emerging Adulthood. (with S. Chavoshi, M. Wintre, and S. Dentakos)

* Zietsma, Charlene (Forthcoming), “Investor’s Assessment of the Impact of Corporate Social Performance on Default Risk in Long-Term Bond Markets,” Journal of Business Ethics. (with O. Branzei, J. Frooman, and B. McKnight) * Zietsma, Charlene (Forthcoming), “The Message is on the Wall: Emotions, Social Media and the Dynamics of Institutional Complexity,” Academy of Management Journal. (with M. Toubiana) Zwick, Detlev (2015), “Defending the Right Lines of Division: Ritzer’s Prosumer Capitalism in the Age of Commercial Customer Surveillance and Big Data,” The Sociological Quarterly, 56(3), 484-498. * Zwick, Detlev (2015), “The Field of Business Sustainability and the Death Drive: A Radical Intervention,” Journal of Business Ethics. (with A. Bradshaw) Zwick, Detlev (2015), “The Ideology of the Ethical Consumption Gap,” Marketing Theory. (with M.J. Carrington and B. Neville) ◆

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