New York Times - Oct 29, 2014 Because of a lag in posting documents to the S.E.C. site, investors that pay a subscription fee can gain access to public filings roughly 10 seconds before they are seen by the general public, according to a new academic paper by Douglas Skinner and Sarah Zechman.
For Corporate Insiders, Fewer Analysts = More Trading Profits
Wall Street Journal (blog) - Oct 22, 2014 For chief executives and other corporate insiders looking to trade their companies’ shares, reduced analyst coverage was a boon, suggests research from Wei Wu, a graduate student at Chicago Booth. Mr. Wu looked at trading behavior of insiders at companies with five or fewer analysts when, as a result of research-department closures, coverage was reduced.
SEC system born in push for transparency blamed for unfairness
Washington Post - Bloomberg - Oct 29, 2014 Researchers (Douglas Skinner and Sarah Zechman) checking whether documents are distributed to investors fairly by the SEC found evidence that some paying subscribers got the information first. Article also in Chicago Tribune.
How To Quit Facebook Without Experiencing Withdrawal
MSN - Oct 21, 2014 According to a new study by Ayelet Fishbach and her colleague, people who quit Facebook for three days have a much weaker urge to return if they are reminded of the many other social media sites and apps that can fulfill their desire for online friendship.
Fed's big labor language leap
NBC News (includes video) - Oct 29, 2014 Austan Goolsbee looks at how stocks are reacting to the FOMC's statement.
Uncertainty Can Add Excitement to Your Life
ABC News Radio - Oct 20, 2014 It's said that people like a sure thing. However, uncertainty can be more exciting. That's what's called the motivating-uncertainty effect, according to researchers at the University of Chicago Booth School of Business (Ayelet Fishbach) and University of Hong Kong.
Fed Not in Hurry to Raise Interest Rates: Kroszner
Bloomberg and Bloomberg Asia - Oct 30, 2014 Randall Kroszner, a former Federal Reserve governor who teaches economics at the University of Chicago, talks about Fed policy and the U.S. economy. The Fed said the U.S. labor market has strengthened enough to withstand an end to its unprecedented asset-purchase program and downplayed risks posed by declining inflation. Kroszner speaks with Yvonne Man on Bloomberg Television's "First Up.
Sell Winners, Sell Losers, Just Close Eyes and Sell Sell!
Bloomberg News - Oct 24, 2014 And that is exactly what we non-robots do: sell the portfolio’s winners and losers way more than the rest of our stocks, according to research by Samuel Hartzmark, assistant professor of finance at the University of Chicago Booth School of Business. Hartzmark called it the “rank effect” and said it can be seen in trading by individual retail investors as well as mutual fund managers.
MEDIA OUTSIDE THE U.S.High-frequency traders said to get SEC filings early
Financial Times - Oct 29, 2014 “If milliseconds now matter in securities markets, these numbers challenge the notion that the public dissemination process is a level playing field,” said the study conducted by Jonathan Rogers of the University of Colorado, and Douglas Skinner and Sarah Zechman of the University of Chicago Booth School of Business.
‘A crammed diary controls you’: Cilla Snowball, AMV BBDO
Financial Times - Oct 26, 2014 New research by Ayelet Fishbach and Christopher Hsee suggests an uncertain reward can be more motivating. The researchers discovered that the excitement generated in making an unknown prize “known” makes a task enjoyable.
Floating-rate debt is great when interest rates go down
Financial Times - Alphaville Blog - Oct 21, 2014 New research from Amit Seru and his colleagues shows that borrowers who were lucky enough to take out these types of debts in the mid-2000s ended up benefiting from the fact that short-term interest rates since the crisis have been so low.
Executive MBA Ranking 2014
Financial Times - Oct 20, 2014 The Financial Times published its annual ranking of the world’s best Executive MBA programs today. Overall, Chicago Booth was ranked 11th. Last year, the school was ranked 9th.
Chicago Booth Named No. 1 in Business School "Influential Thinkers"
Ifeng.com - Oct 16, 2014 Six Chicago Booth faculty members were named to Thomson Reuters’ list of most influential thinkers, making Chicago Booth No. 1 in business school thought leaders worldwide. Article also in Shanghai News, Gmw.cn, Ynet.com, 21cn.com, Chinaedunet.com, Chinaedunews.org, Cnfol.com, China.com.cn, Hexun.com, Chinavalue.net, Tobnews.com.
Fast Traders Are Getting Data From SEC Seconds Early
Wall Street Journal - Oct 30, 2014 “These results raise questions about whether the SEC dissemination process is really a level playing field for all investors,” wrote Jonathan Rogers of the University of Colorado, who co-authored an Oct. 22 study with Douglas Skinner and Sarah Zechman that analyzed the SEC’s distribution system. Article also appeared in WSJ's Asia and Europe.
Our skewed, empty media diet
New York Daily News - Oct 26, 2014 Matthew Gentzkow and Jessie Shapiro's analysis, which details the concentration of big audiences in centrist sites, including Yahoo.com and CNN.com, finds less partisan news consumption than we often assume. And it confirms that the vast majority of Americans aren’t political junkies who lap up policy-driven gabfests.
Small Caps: The Good, Bad and the Ugly
Forbes - Oct 31, 2014 In 1992, Nobel Prize winners Eugene Fama and Ken French published their important paper “The Cross-Section of Expected Stock Returns,” which showed that U.S. Small Cap stocks tend to outperform the market over time.
Two Simple, Scientific Approaches to Motivational Leadership
Forbes - Oct 29, 2014 University of Chicago psychologists Ayelet Fishbach and Minjung Koo conducted several studies in which they found that “to-date” thinking, which means recognizing how far you have come in pursuit of your goal, can actually spark a sense of premature accomplishment.
Your Network Is Your Net Worth: 7 Ways To Build Social Capital
Forbes - Oct 20, 2014 In order to network effectively, you need to move out of your comfort zone and identify people who can help your career, not just those people you like. Research from the University of Chicago Booth School of Business (Ron Burt) on this topic confirms the importance of a diverse network.
Blaming Easy Money for Alien Invasions
Bloomberg View - Oct 28, 2014 On Oct. 24, Niall Ferguson penned a column in the Wall Street Journal blaming QE for the stock market volatility of Oct. 15, citing a paper by Anil Kashyap and his colleagues which shows some evidence that monetary policy changes can disturb the financial system.
Only thing predictable about Game 7 is that it can't be predicted
Sports Illustrated - Oct 29, 2014 In their influential 2011 book "Scorecasting," University of Chicago economist Toby Moskowitz and Jon Wertheim examined the phenomenon of home field advantage in sports. In each of the past 111 MLB seasons, home teams have won more often than they have lost, and the authors identified the principal reason: the officiating, particularly as far as the home plate umpire's calling of balls and strikes.
FACULTY/STAFF/STUDENTS/SCHOOLHow to Gladden a Wealthy Mind
New York Times - Oct 23, 2014 Like many over-scheduled children, wealthy people tend to fill their leisure time with obligations. Today, says Erik Hurst, a professor at the University of Chicago Booth School of Business, “the more education you have, the less time you have for leisure.”
Where to go to business school if you want the highest salary
Washington Post - Oct 22, 2014 When schools are ranked instead by early career pay, the order changes a bit but the same schools dominate the top of the list. Two schools — the University of Chicago and the University of Texas at Austin — crack the top 10, displacing Harvard and Columbia, which have higher earnings for mid-career graduates.
Region’s Top Travel and Tourism Leader Named at the 2014 CNBC Travel Business Leader Award
CNBC - Oct 29, 2014 The 2014 CNBC Travel Business Leader of the Year was awarded to Mr. Stephen Ho, President of Starwood Asia Pacific. The University of Chicago Booth School of Business and Millward Brown are the Knowledge and Research Partners for TBLA.
Businesses Weigh In On What Illinois Government Should Do
WUIS-NPR All Things Considered (includes audio) - Oct 27, 2014 Illinois' image problem is a BIG one for the state, says Bob Rosenberg, who teaches entrepreneurship at the University of Chicago’s Booth School of Business. "We are thought of as a bad place for business. We’re thought of as a troubled state, a corrupt state. And we don’t make it easy for businesses to come here."
Tim Cook inspires LGBT members of Chicago tech community
Chicago Tribune - Oct 31, 2014 Mary Shea, adjunct assistant professor of marketing, commenting on whether Cook’s announcement might affect Apple, says “I don’t think there’s any downside. I think it’s an incredible occurrence. From a brand perspective, maybe if you think in parts of Asia or Africa, there could be some downside implications. The reality is people love their Apple products, and I think they’re going to continue purchasing them.”
Peter Thiel: Chicago start-ups should embrace big ideas over big bucks
Chicago Tribune - Oct 22, 2014 Thiel offers advice for entrepreneurs to build companies that create new markets with world-altering effects — companies like Microsoft, Google and Facebook. His tour stops included appearances at the University of Chicago’s Booth School of Business, the Chicago Venture Summit and Chicago Ideas Week.
Turning research into jobs [South Bend Tribune, Ind.]
Bloomberg Businessweek - Oct 28, 2014 "The best way to assess Notre Dame's work is not by tracking patents, start-ups or research spending," argued Robert Rosenberg, a professor of entrepreneurship at Chicago Booth and a founder of the Midwest Research University Network, "but by counting the local population."
Cryptocurrency Round-Up: PayPal Founder Sceptical of Bitcoin and Bitnet Receives $14.5m Funding
Yahoo News UK and Ireland - Oct 21, 2014 "Bitcoin is the opposite of PayPal, in the sense that it actually succeeded in creating a currency," the co-founder of PayPal, Peter Thiel said in a talk at the Booth School of Business in Illinois.
Fast-growing Internet lender Enova going public next month
Crain's Chicago Business - Oct 24, 2014 The seven-person board includes Mark Tebbe, a technology industry veteran who's an adjunct professor at the University of Chicago Booth School of Business.
ALUMNIBelwith Products, LLC announces new president Tim Emmitt
Bloomberg Businessweek - Oct 31, 2014 Alumnus Emmitt joins Belwith Products, LLC from his role as President at 52nd Street Advisors, LLC. Prior, he was the President at Romeo Rim, a Director at Grant Thornton, Chief Operating Officer at Noble International and spent 15 years working in various financial and leadership positions at Chrysler.
WhatGym Launches Mobile-Digital Tool to Help Gym Owners and Fitness Studios Attract New Members and Increase Revenues
Bloomberg Businessweek - Oct 20, 2014 "As gym owners and fitness enthusiasts ourselves, we know the fitness industry from both the business and consumer perspective," said Franco Pacelli, WhatGym Founder, former investment banker, and University of Chicago Booth School of Business graduate.
Diebold Appoints New Treasury and Tax Leaders
MarketWatch - Oct 29, 2014 Diebold, Incorporated today announced two key appointments on its corporate finance leadership team. Henry Orphys has been appointed vice president, tax; and alumnus David Kuhl has been appointed vice president, treasury.
LRI Energy Solutions Announces Peter Fox-Penner Has Joined Board of Directors
Yahoo Finance - Oct 22, 2014 LRI Energy Solutions, a leading provider of lighting and water building efficiency services, is pleased to announce that utility and energy industry expert, alumnus Peter Fox-Penner, has joined the firm's Board of Directors.
ValueShares Makes ETF Debut With Quantitative Value ETF
Yahoo Finance - Oct 22, 2014 The actively managed QVAL, which charges 0.79% per year, is managed by Dr. Wesley Gray, a U.S. Marine Corps veteran with a Ph.D. from the University of Chicago where studied under Nobel Prize winner, Eugene Fama.