Illustration by D. Hertzberg
Five notable centres and institutes:
1) Centre for Research in Ethnic Minority Entrepreneurship (CREME)
Birmingham School of Business
CREME focuses on conducting pioneering research that promotes diversity and ethnic minority enterprise throughout Europe. CREME’s mission through its work is to “make diversity and enterprise everyone’s business.”
2) International Centre for Work and Family (ICWF)
University of Navarra – IESE Business School
ICWF encourages family corporate responsibility in business, promoting leadership, culture and corporate policies that facilitate the integration of employees´work, family and personal life.
3) Sustainable Consumption Institute (SCI)
Manchester University – Manchester Business School
SCI is set up to bring insight and clarity to the importance of adopting a more sustainable form of consumption in society. SCI believes that this future may involve consuming less, or it could mean consuming differently.
4) Program on Financial Stability
Yale University – Yale School of Management
The Yale Program on Financial Stability plays an important role in bridging theory and practice in the nascent field of “macroprudential” financial regulation, the measurement and management of systemic risk.
5) Cambridge Centre for Alternative Finance (CCAF)
University of Cambridge – Judge Business School
The CCAF is an institute dedicated to the study of alternative finance, financial channels and instruments emerging from outside of the traditional financial system. These include social impact bonds and community shares used by non-profit enterprises.
Five notable faculty research papers*
*Note: Other researchers not listed were involved in the below projects.
1) “Pride and prestige: Why some firms pay their CEOs less”
Dr. Ernst Maug, Mannheim Business School
Dr. Maug investigated the impact of firm prestige on CEO compensation and found that CEOs of more prestigious firms earn less. Specifically, total CEO pay was on average nine per cent lower for firms listed on Fortune’s America’s most admired companies list.
2) “Ethnic diversity deflates price bubbles”
Dr. Evan Apfelbaum, MIT Sloan School of Management
Dr. Apfelbaum, conducting research into price bubbles, uncovered evidence suggesting that bubbles are affected by ethnic homogeneity in the market and can be thwarted or reduced by greater diversity.
3) “Evidence for a positive feedback loop between prosocial spending and happiness”
Dr. Michael I. Norton, Harvard Business School
Dr. Norton conducted an experiment to test whether a positive feedback loop occurs between spending money on others and happiness. Results suggest a loop may exist, offering up one potential path to sustainable happiness.
4) “The link between job satisfaction and firm value”
Dr. Alex Edmans, London Business School
Could CSR improve stock returns? Dr. Edmans analyzed all companies listed in the “100 Best Companies to Work For in America” and found these companies generating 2.3 to 3.8 per cent higher stock returns per year than their peers from 1984 through 2011.
5) “The impact on firm valuation of mandated female board representation”
Dr. Amy K. Dittmar, Ross School of Business
In 2003, a new law required that 40 per cent of Norwegian firms’ directors be women. Only nine per cent of directors were women at the time. Dr. Dittmar’s research delved into the impact this transformation had on firm valuation.
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