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.’”
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
“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.”