October 5

Robb Willer, Stanford University

The Declining Status of White Americans and the Rise of the Tea Party

Time and Location: 3:00-4:30 PM, CERAS Building, 520 Galvez Mall, Stanford CA 94305 (Room 123)

One controversial account of the rise of the Tea Party asserts that a series of political, economic, and demographic events and trends in late 2008 and early 2009 had the effect of threatening the racial status of white Americans, with resulting racial resentment fueling popular support for the Tea Party. Results of five survey-based experiments conducted on diverse samples of Americans support this "decline of whiteness" account for popular Tea Party support, showing that political, economic, and demographic threats increase Tea Party support among white Americans, that these increases are due to heightened resentment of minorities, and this heightened support is greater where the Tea Party's racialized political positions are highlighted. A final experiment replicates these findings among a sample of white Tea Party supporters. Prospects for a "vertical group theory" of relations among racial and other status groups are discussed.

October 12

Mika Vaihekoski, Turku School of Economics

Expected return and conditional asset pricing: A new testing approach

Time and Location: 3:00-4:30 PM, CERAS Building, 520 Galvez Mall, Stanford CA 94305 (Room 123)

Traditional tests of conditional asset pricing models presume that the use of realized returns as a proxy for expected returns is acceptable. This paper turns the tables and asks what realized returns we would observe, given the pricing model. Based on this idea, we develop a new approach for testing conditional asset pricing models. The new approach implies a testable model that links the realized returns to changes in the risk-free rates, expected dividends and risk premium. This approach is used to test the Merton (1973, 1980) model and a long-standing risk-return trade-off puzzle: the price of market risk, lambda, has often turned out to be small, even negative and often insignificant. The empirical model implied by the new approach suggests that estimating lambda requires that we take into account changes in the conditional variance and its long-term persistence. We compare the price of market risk estimates from the new and the traditional testing approaches. We use both conventional measures of variance, such as (asymmetric) GARCH estimates as well as new measures based on forward-looking option market implied volatilities and MIDAS estimation. The results on US data give strong support for the new model; the estimated model fits well the equity premium, and the lambda estimates are consistently significant, positive, within theoretically justified region, as well as more stable and higher than those estimated using the traditional approach.

October 19

Kirsi Eräranta, Aalto University School of Business

Tax avoidance and the division of moral labor in health care: a framing perspective on political CSR

Time and Location: 3:00-4:30 PM, CERAS Building, 520 Galvez Mall, Stanford CA 94305 (Room 123)

Co-authors: Johanna Moisander and Visa Penttilä (Aalto University School of Business, Department of Management Studies

This paper focuses on tax avoidance as a question of moral legitimacy and political CSR. While much of the existing research has focused on philosophical and theoretical arguments about the morality of tax avoidance, discussing whether or not tax avoidance is the right thing to do, this paper sets out to explore and elaborate on the ways in which the moral legitimacy of tax avoidance is socially constructed, contested, and negotiated by corporate and civil society actors in public discussion and debate. Drawing on frame analysis, as it is theorized in the literature on social movements, the analytical focus lies on the textual strategies of framing through which concerned citizens and corporate actors construct their legitimizing and de-legitimizing accounts, so as to mobilize support and defend their positions as proponents and opponents of corporate tax avoidance. The study demonstrates how these collective action frames draw on master frames that define acceptable roles for societal actors. Overall, our paper contributes to the business ethics literature on tax avoidance by elucidating the ethico-political frameworks that underpin different, socially constructed understandings of CSR and the legitimacy of corporate tax avoidance as a business practice. In doing so, the paper also continues and extends the literature on political CSR, offering an empirically grounded account of the social and communicative basis of the legitimacy struggle over tax avoidance. Moreover, the findings of our study provide corporate, state, and civil society actors with empirical inputs into the processes of reflection, moral reasoning, and decision-making through which they can deal with conflicting stakeholder behaviors and develop legitimation or de-legitimation strategies that allow them to get actively involved in the social and communicative processes through which understandings of CSR and the moral legitimacy of tax avoidance are negotiated in society.


October 26

Andrew Penner, University of California, Irvine

‘Membership Has Its Privileges’: Status Incentives and Categorical Inequality in Education

Time and Location: 3:00-4:30 PM, CERAS Building, 520 Galvez Mall, Stanford CA 94305 (Room 123)

Prizes – formal systems that publicly allocate rewards for exemplary behavior – play an increasingly important role in a wide array of social settings, including education. In this paper, we evaluate a prize system designed to boost achievement at two high schools by assigning students color-coded ID cards based on a previously low stakes test. Average student achievement on this test increased in the ID card schools beyond what one would expect from contemporaneous changes in neighboring schools. However, regression discontinuity analyses indicate that the program created new inequalities between students who received low-status and high-status ID cards. These findings highlight that status-based incentives create categorical inequalities between prize winners and others even as they reorient behavior toward the goals they reward. 

November 2

Robert Eberhart, University of Santa Clara

Surviving or Thriving: Embeddedness and Startup Performance

Time and Location: 3:00-4:30 PM, CERAS Building, 520 Galvez Mall, Stanford CA 94305 (Room 123)

Co-author: Renee Rottner, UC Santa Barbara

We explain how local embedding affects a venture’s objectives and shape a venture’s performance. One of the central findings among entrepreneurship studies is that resources in social networks play a central role in outcomes yet exhibit a parabolic relationship with venture performance because over-embeddedness restricts network connections and constrains choices. We argue instead that embedding deeply in local social relations may not deprive an organization of opportunities, alternatives, or choices, but instead that an organization's objectives arise from embeddedness resulting in differing pursuits of growth versus survival or employment . This strategic choice of surviving versus thriving can lead to conflicting success measures, such as preserving jobs rather than growing profits. We employ a matched sample of ventures to examine the separate effects of locally embedded resources on survival and growth. We find that when the firm and founder originate in a minor city, survival and employment increase. When the firm and founder originate in major cities, we find growth increases. These results inform the role of community in venture outcomes to provide a theoretical separation of survival from growth.

November 9

Fredrik Nilsson, Uppsala University

The relationships between financial accounting regulations and the design and use of management control systems: Preliminary findings from a case study of a Swedish bank

Time and Location: 3:00-4:30 PM, CERAS Building, 520 Galvez Mall, Stanford CA 94305 (Room 123)

This paper reports some preliminary findings of how regulations affect financial accounting as well as the management control system in a large Swedish bank. It is assumed that financial accounting is to a large extent affected by demands for uniformity in order to be able to compare financial reports and hold the board and senior executives accountable. Management control systems are assumed to be aligned to the unique strategy being pursued by the company; hence uniqueness rather than uniformity is an important driving force when control systems are designed and used. As discussed by Stockenstrand and Nilsson (2015) in their book “Financial accounting and management control: The tensions and conflicts between uniformity and uniqueness” the different demands on the two information systems can be difficult to resolve. They can also affect the relevance of accounting information. The paper presents some preliminary findings on these complex relationships based on the explorative phase of a longitudinal case study covering the years 2000-2015 in a large Swedish bank.

November 16

Åse Gornitzka, University of Oslo

Reputation management and social accountability – a comparative study university organizations

Time and Location: 3:00-4:30 PM, CERAS Building, 520 Galvez Mall, Stanford CA 94305 (Room 123)

Co-author:  Tom Christensen, University of Oslo

The times are long gone when universities where closed entities dominated by a selected group of professors. Modern universities are social embedded through catering to a wide variety of stake-holder groups. Reputation management is therefore more important to attend to these groups, where universities are ‘social accountable’ through giving information, creating images and connecting in different ways to actors in the environment that are important in different ways for providing resources, support, commitment, trust, legitimacy, etc. We ask what is typical for the reputation management of universities? What are the core symbols and how are different types of symbols balanced. How much do universities focus on their performative record, their organization and procedures, their moral symbols (openness, trust, caring, etc.) and professional qualities. How can variations in reputation management be accounted for in theoretical terms? We try to answer these questions through making a comparative analysis of 20 universities in four Scandinavian countries. The data consist of a web-census – systematic analysis of the web-sites of these universities. 

November 30

Markus Paukku, SCANCOR Postdoctoral Fellow

The eLearning Market That Wasn’t: The Emergence and Re-Emergence of Online Teaching and Learning

Time and Location: 3:00-4:30 PM, CERAS Building, 520 Galvez Mall, Stanford CA 94305 (Room 123)

The re-emergence of online learning has promised to cater to the increasing demand for university education. Indeed, universities and various affiliates have developed numerous organizational arrangements and business models by which to disseminate teaching and learning beyond the campus and serve wider audiences. This variation in the organization of the transfer of education beyond the campus stands in contrast to the near ubiquitous commercialization of science and research and its now taken-for-granted technology transfer office model. To date, such a model of online teaching and learning has yet to emerge – despite earlier attempts.

To inform the on-going discussion and current university online learning strategies this study draws on the historical prior of the early 2000’s and a previous instance of online education emergence. This paper studies the online teaching and learning initiatives of the 63 institutions of the Association of American Universities. Using a stakeholder perspective the paper assesses how these online learning efforts were largely unsuccessful in developing a legitimate model by which to transfer education beyond the university.

The discussion also answers calls for the application of strategic management to higher education. The case of online learning provides an empirical context within which to discuss the applicability and limitations of management concepts in the organization of the university. 

December 7

Love Börjeson, SCANCOR Postdoctoral Fellow

What do we talk about when we talk about management? Topical and national specificity of management studies

Time and Location: 3:00-4:30 PM, CERAS Building, 520 Galvez Mall, Stanford CA 94305 (Room 123)

This is a study about academic management writing and its topical and national patterns and trends over the last two and a half decades. Based on the totality of 81 804 abstracts in the management subject area in the web of knowledge social science citation index between the years of 1990-2013, 39 topics of management studies are determined using topic modeling. A common dimensionality of topics and nations are explored using explorative statistics. Results show that topics and nations are dispersed along two dimensions, a) between a prescriptive and skeptical perspective on management, and b) between baseline and extended management. Four topic-nations clusters are identified: Baseline operations; General management; Avidity and the self, and; Skepticism and the public. The topical specificity of the clusters are discussed with respect to characteristics of nations in the clusters.

Key-words: Management Studies, Topic Modeling, Social Studies of Science