Empirical asset pricing lecture #1

Another chapter in how short-sellers save the world. This one is the ESG edition. aqr.com/Insights/Persp…

AQR's new ESG mutual fund will not only favor the best-behaved companies, it will punish the worst bloomberg.com/news/articles/… via Bloomberg Markets

.Starbucks decision to let anyone use the bathroom and sit in stores led to significant reductions in customer visits, especially near homeless shelters. Improving stakeholder welfare, as corporate social responsibility aims for, is harder than it seems. jfqa.org/2022/01/07/mea…

It’s good to see Starbucks changing their mind about this. I happen to know a thing or two about this policy, because I actually wrote a paper on it, with Umit Gurun and Jordan Nickerson: papers.ssrn.com/sol3/papers.cf…. A thread...

How to avoid paying overtime? Make your Front Desk Clerk a "Director of First Impressions". Cohen, Umit Gurun & N. Buğra Özel have a compelling new NBER WP suggesting that mamy firms give fake managerial job titles to avoid paying overtime. (1)

Dubious managerial titles like “lead shower door installer” and "carpet-shampoo manager" help companies avoid paying workers $4 billion in overtime, research from Umit Gurun The Jindal School and Harvard Business School found. bloomberg.com/news/articles/… via Bloomberg Work Shift

Dubious managerial titles such as “lead shower door installer” help companies avoid paying workers overtime bloomberg.com/news/articles/… via Bloomberg Work Shift

Thank you, Anna Stansbury, for sharing a great summary of our study. The labor market is notoriously opaque. Even public firms do not have clear and reliable disclosures about their total payroll or the number of employees.

nytimes.com/2023/03/06/bus…

nbcnews.com/now/video/mana…

Repercussions of protectionist policies implemented in the US since 2018 on the composition of the workforce and career choices within the semiconductor industry, from Mehmet I. Canayaz, Isil Erel, and Umit G. Gurun nber.org/papers/w32466

ESG should be measured differently than it has been in years past. In fact, there's two-pronged solution that can improve transparency, efficiency and effectiveness. s.hbr.org/45XTgJI

The #US aims to revitalise its domestic #semiconductor manufacturing industry, but protectionist policies implemented since 2018 have undermined the very workforce that the industry needs to thrive. Mehmet Ihsan Canayaz, Isil Erel Fisher College of Business, Umit Gurun ow.ly/kSu450SHTCh