This paper examines the recent changes in the relationships between public research universities and financial markets, using the University of California as a case study. Between 2003 and 2011, UC’s outstanding bond debt to investors more than doubled. Funds raised through borrowing were...

This paper examines the changing process of strategic alliance formation in the Japanese electronics industry between 1985 and 1998. With data on 123-135 Japanese electronics/electrical machinery makers, we use a dyad panel regression methodology to address a series of hypotheses drawn largely...

We estimate the effect of new unionization on firms’ equity value over the 1961-1999 period using a newly assembled sample of National Labor Relations Board (NLRB) representation elections matched to stock market data. Event-study estimates show an average union effect on the equity value...

This paper compares the political values and viewpoints of Americans with those of citizens of 19 other wealthy democracies. Drawing on the long history of scholarship and debate about “American Exceptionalism,†we ask whether Americans’ positions on issues of governance,...

Why, at the onset of a downturn in economic activity and an upswing in unemployment (in the early 2000’s), did the leading trade unions in Germany decide to demand-and in some cases strike for- larger wage increases and denounce a government-led policy of wage moderation, rather than...