Creating business value from human language.

M&SOM

Unequal access: Female learners' questions on MOOC forums are 15% less likely to receive staff responses—not due to content differences, but because male staff systematically favor male learners, directly hurting female course completion rates.

M&SOM

Hidden alpha in supply chains: Five measures of firms' global sourcing strategies—constructed from transaction-level import data—predict annual stock returns of 6–14%, revealing that investors systematically misprice supply chain information.

Management Science

When ceilings backfire: Studying China's removal of retail drug price caps across 4,500+ SKUs, we find that ~5% of nationally-controlled drugs had prices inflated by an average of 10% due to the very ceilings meant to contain them—driven by focal point pricing and cost asymmetry.

Management Science

Your supplier's suppliers matter: Mapping multitier supply networks reveals that shared tier-2 suppliers are a significant hidden source of firm risk—negative abnormal returns grow monotonically larger as impacted subtier suppliers are more heavily shared.

Management Science

CSR without impact: Private firms significantly reduce negative ESG incidents after UN Global Compact participation, but public firms do not—shareholder–stakeholder conflicts drive decoupled CSR actions with no real societal benefit.

Journal of Financial Economics

Beyond word lists: A new term-weighting approach for content analysis that quantifies document tone without subjective positive/negative word classifications, reliably predicting market reactions to 10-Ks and IPO underpricing.