B-School Bulletin: Search Underway For Yale SOM Dean

The Secret To Finding Lasting Career Satisfaction

News from Stanford Graduate School of Business

“The career path for Stanford Graduate School of Business alum Michael Melcher has been anything but linear: He earned a BA in 1986 from Harvard College, served as a foreign service officer for the U.S. government, earned JD and MBA degrees at Stanford University, worked as an attorney with Davis Polk & Wardwell and D.E. Shaw, and was even the CEO of an internet startup focusing on immigration issues. He’s also a speaker and a writer. He’s the author of The Creative Lawyer: A Practical Guide to Authentic Professional Satisfaction and has written for the New York Times, ABA Journal, and Huffington Post.

“Today, he helps leaders and professionals navigate career transitions as an executive coach and a partner at the firm Next Step Partners. ‘When I was at Stanford GSB, I had certain ideas about what my career might be,’ he says. ‘Some of those turned out to be true, and some did not, and some I couldn’t imagine. I’d never even heard of my career in the early ’90s. And if I had heard of it, I might not have seen a direct connection between what I was doing and what I’m doing now. It illustrates how careers change, how they develop, and how much uncertainty there is.’”

Paul Gao. Notre Dame photo

Historically Black Schools Pay More To Issue Bonds, Researchers Find

News from Notre Dame University Mendoza College of Business

“A new study by the University of Notre Dame found that historically black colleges and universities (HBCUs) pay higher fees to issue tax-exempt bonds than non-HBCUs. And the evidence points to racial discrimination as the cause.

“This was the finding of Paul Gao, Viola D. Hank Associate Professor of Finance at Notre Dame’s Mendoza College of Business, and co-authors Casey Dougal of Drexel University, William J. Mayer of Duke University, and Christopher A. Parsons of the University of Washington. The researchers published their findings in ‘What’s in a (School) Name? Racial Discrimination in Higher Education Bond Markets,’ forthcoming in the Journal of Financial Economics.

“The research paper tests the theory begins with the reasoning that ‘economic development deters the expression of discrimination, racial or otherwise,’ which originally was set forth in economist Milton Friedman’s book, Capitalism and Freedom. Therefore, it should be unlikely that a ‘product’ such as the municipal bond market would exhibit signs of racial discrimination.”

Conflict Of Interest Disclosures Inspire Misplaced Trust

News from Cornell University Johnson Graduate School of Management

“Countless bloggers are paid by the companies they write about, but analysts believe few disclose those financial relationships. A new study shows that even when bloggers mention conflicts of interest, the information may make readers more likely to follow their advice, rather than less.

“It sounds counterintuitive, but the study suggests we automatically process the disclosure as a signal that the blogger is an expert – perhaps because we’re so overloaded with information we don’t fully consider what the conflict means.”

Using Play To Address Uncertainties At Work

News from INSEAD

“Organizations face ongoing and rapid changes. The stress and anxieties that ensue can impair individuals’ resilience and their ability to adapt and cooperate. That can affect their behavior negatively and cause teams to become dysfunctional.

“Leaders must find a way to address the work-related anxieties of individuals and groups in their organization. To do so, they need to engage in activities that improve people’s understanding of the context in which the organization operates. Insights gained from such activities can be used to create work environments that are more meaningful and improve performance.

“One solution is the use of pop-up holding environments, which are temporary physical spaces that allow meaning-making and a change of mindset. They provide a psychologically safe environment for leaders and employees to reflect and use their intuition, which helps them strategise, make decisions and ease anxieties.”

Prada Group to Host ‘Shaping A Sustainable Digital Future’

News from Yale SOM

“Prada Group will host ‘Shaping a Sustainable Digital Future’ in Milan on 20th November 2018 at Fondazione Prada, in partnership with Yale School of Management and Politecnico di Milano School of Management. The event will be the second edition of Prada Group’s ‘Shaping a Future’ cultural conversations.

“Prada Group is committed to driving the dialogue around sustainability, business, and society by bringing together prestigious institutional, academic, and business minds to create powerful and stimulating discussions. ‘Shaping a Sustainable Digital Future’ will explore the large impact and implications of digitalization on business and societal sustainability.

“Following the 2017 conference, which focused on the interplay between sustainability, creativity and innovation, on November 20th 2018, representatives from leading businesses and institutions will meet with students to discuss how digitalization contributes to a sustainable development and the risks of digital technologies in terms of sustainability.”