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Economics & Finance

Will the Shifting Economic Power Balance Topple Democracy?

Ilian Mihov

A view on where global democracy stands and where it’s headed in the new economic world order.

Economics & Finance

Key Players in the Indo-Pacific Region

Pushan Dutt

Amid ongoing conflicts, shifting allegiances and incumbents jostling for influence, emerging powers such as India will play an increasingly important role in shaping Indo-Pacific relations.

Economics & Finance

Bridging Prosperity and Need

Alexandra Roulet

A country's overall economic figures don't always speak to the difficulty of life for many people. Even Singapore needs a food bank.

Economics & Finance

When Firms Behave Irrationally

Lin Tian

The actions of firms in low-income countries don’t always match our assumptions.

Strategy

Why Some CEOs Are More Likely to Downsize

Guoli Chen

A firm’s decision on whether to downsize when facing performance shortfalls may depend on the CEO’s internal attribution tendency.

Economics & Finance

The World Economy in 2024: Are We Back on Track?

INSEAD Knowledge

Professor Antonio Fatás explores the long and short-term trends shaping the global economic landscape.

Responsibility

The Risks and Rewards of Community-Driven Business Models

J. Singh, A. Adbi and M. Lee

Understanding the hidden dangers of leveraging social capital in low-income communities.

Economics & Finance

When Information Won’t Reduce Stock Price Volatility Immediately

J. W. Bae, F. Belo, J. Li, X. Lin, X. Zhao

Where company disclosures are concerned, “the more the merrier” doesn’t always apply; complexity and timing matter too.

Economics & Finance

How Web3 and AI Will Transform Finance

J. Davis, J. Kasko

Artificial intelligence and crypto are not only reinventing financial products and delivery, but also influencing who gets to participate.

Economics & Finance

INSEAD Insights: December 2023 Research Picks

Lily Fang

Recent findings on consumer confidence, preventing financial runs, competitor information, regulation and gender bias in the workplace.

Economics & Finance

Thawing US-China Relations: Competition Meets Interdependence

Pushan Dutt

What are the biggest wins from the Biden-Xi meeting on the sidelines of the APEC Forum?

Career

INSEAD Insights: October 2023 Research Picks

Lily Fang

Recent findings on bias in employee evaluations, shareholder activism, children’s mental health, the meaning of work and knowledge weighting.

Economics & Finance

China: Caught in the Middle-Income Trap?

A. Fatas, I. Mihov

What would it take for China to get back on its growth trajectory?
2 comments

Economics & Finance

Pay Attention to the Details

Shiwon Song

Focusing on the right information can pay dividends for any investor.

Economics & Finance

Deflation Woes: Can China Avoid Japanification?

Pushan Dutt

What the world’s second-largest economy could do to stop its spiral into economic stagnation.
1 comment

Economics & Finance

Covid-19 Furloughs Helped Firms Thrive

M. Bennedsen, B. Larsen, I. Schmutte, D. Scur

Even keeping low-wage workers on the payroll yielded benefits after Covid-19 restrictions ended.

Economics & Finance

Managing Systemic Risks in Tech: Lessons from Finance

F. Candelon, D. Martinez, P. Nathanial, T. Evgeniou, L. Van der Heyden

The financial sector's track record in risk management offers invaluable lessons for the tech industry.

Economics & Finance

Better Geographic Investing Begins With an Inclusive Index

Bernard Dumas

A novel stock return index can help portfolio managers make more informed investment decisions and better manage risks.

Economics & Finance

Why Demographics Matters More Than Ever for Businesses

C. Zeisberger, D. G. Munro

How understanding expanding and shrinking population subsets could help business and investors identify opportunities to pursue and pitfalls to avoid.

Economics & Finance

US-China Ties: Damage Controlled But Obstacles Ahead

Pushan Dutt

Even before the top US diplomat headed to China this week, talk of a new Cold War was unhelpful. Still, Washington and Beijing have their work cut out steering their relationship back on course.

Economics & Finance

The Future of Energy Transition and Climate Finance

Lily Fang

What more can companies and investors do to facilitate the transition to cleaner energy and reduce greenhouse gas emissions?

Economics & Finance

What Comes After the Fall of Silicon Valley Bank?

INSEAD Knowledge

The bank’s collapse could have significant implications for monetary policy and banking regulations.

Economics & Finance

The Costs of Fuelling Economic Growth

Robert (Bob) Ayres

A study of ten large global economies shows that exergy – not human labour – is the primary driver of GDP growth. Existing production models cannot explain growth.

Economics & Finance

Why Did Silicon Valley Bank Collapse?

L. Fang, K. Snellman, C. Zeisberger, D. G. Munro

Risky investments and a lack of regulatory oversight contributed to the failure of Silicon Valley Bank.
1 comment

Economics & Finance

Will ESG Investing Solve Our Pressing Problems?

Lily Fang

ESG or sustainable investing suffers from a principal-agent problem. Far more impact will be achieved when business leaders incorporate sustainability into business decisions.

Economics & Finance

The World Economy in 2023: A Recession Year?

INSEAD Knowledge

How current market and economic conditions will shape the year ahead.

Economics & Finance

China is Back: What Its Reopening Means for the World

L. Fang, C. Lin, G. Chen, X. R. Luo, B. Zhou, A. Fatás

What the world economy, businesses and investors could expect from China’s return to the fray.
1 comment

Responsibility

Five Global Trends in Business and Society in 2023

K. Le Goulven, I. Mihov, M. Stabile

INSEAD faculty weigh in on the greatest threats and opportunities for the year ahead.

Economics & Finance

In the US, Owning a Home May Not Lead to a Better Life

Pierre Mabille

Policies meant to help lower-income Americans purchase homes may be perpetuating the Black-white wealth gap.

Economics & Finance

After the Fall, What’s Next for Crypto?

INSEAD Knowledge

Amid the collapse of crypto exchange FTX, Lily Fang, Antonio Fatás, Peter Zemsky and Jason P. Davis unpack why it happened and where crypto could go from here.
3 comments

Economics & Finance

The Importance of Soft Skills in Driving Productivity

M. Guadalupe, B. Ng

The economy of the future requires a workforce with strong soft skills. Investing in these crucial skills can result in increased productivity.

Economics & Finance

The Road Ahead for Venture Capital

Katy Scott

In this Thinkers50 webinar, Claudia Zeisberger provides insights into the state of the venture world in today’s climate of unprecedented uncertainty.

Economics & Finance

China’s Economy: Dragon in Turbulence

Pushan Dutt

Anaemic growth and a crippling economic war with the United States weigh on Xi Jinping even as he cements his position as China’s most powerful leader since Mao.

Economics & Finance

Can Fintech Be a Force for Good?

Geraldine Ee

In this Thinkers50 webinar, Lily Fang discusses how the meeting of finance and technology could unleash a transformative force towards more inclusive financial services.

Economics & Finance

A Perfect (Macroeconomic) Storm

Antonio Fatás

The outlook for the world economy next year doesn’t inspire optimism.

Responsibility

Responsible AI Has Become Critical for Business

C. Zeisberger, A. Bose

Investors need to prioritise the ethical deployment of AI – too much is at stake if they don’t.

Economics & Finance

Banning Payment for Order Flow May Benefit No One

B. Zhou, M. Baldauf, J. Mollner

Increased regulations could result in reduced market liquidity and a negative impact on retail traders.

Economics & Finance

Affordable Homes for the Poor Can Boost Collective Well-Being

Pierre Mabille

For all their much-studied drawbacks, affordable housing policies can be a net positive for the aggregate welfare of city dwellers.

Economics & Finance

Casting a Wider Net in OTC Trading: For Better or Worse?

S. Glebkin, B. Y. Zhou

Simultaneous multilateral search for quotes may not always lead to the best deal in over-the-counter trading for dealers and the market.

Economics & Finance

A China Blockade of Taiwan Will Hurt Us All

Pushan Dutt

The global economy will bear the consequences of an all-out economic war between the United States and China should the latter try to shut off Taiwan.

Economics & Finance

Biden’s Misguided Tax on Share Buybacks

Theo Vermaelen

The Biden administration’s ideological distaste for companies purchasing their own stock may do more harm than good.
2 comments

Responsibility

Bob Ayres at 90: Key Insights on Energy in the Economy

The Organising Committee of the Bob@90 Conference

Groundbreaking observations on the fundamental role energy and materials play in the economy.
6 comments

Economics & Finance

Too Many ESG Funds Mislead Investors

Theo Vermaelen

Regulatory reckoning with ESG funds does not go far enough.

Economics & Finance

Don’t Kill Share Buybacks

A. Bonaimé, T. Vermaelen

New proposed restrictions on companies buying back their own stock would likely backfire.
1 comment

Economics & Finance

Sales Numbers Are Up? It May Only Be Inflation

O. Binz, E. Ferracuti, P. Joos

Managers need proper information systems to decipher the real causes of any bump in sales revenue and decide whether investments are required.

Economics & Finance

Where a Firm’s Value Truly Lies

F. Belo, M. A. Vitorino

A new approach to uncovering the sum of all the parts of a modern firm.

Responsibility

Can Private Equity Make Money While Doing Good?

Claudia Zeisberger

With the right tools, investors can help prevent an impact investing debacle.

Economics & Finance

China’s Urban Rich and the Quest For Common Prosperity

L. Yang, S. H. Lee

The key to closing China’s income gap lies in education and bolstering the ranks of its professionals, the meteoric rise of its urban elites in recent decades suggests.

Economics & Finance

The Unexpected Role of PE Firms in Reducing Within-Firm Pay Inequality

Lily Fang

The incentives that drive PE firms have an interesting by-product: a reduction in income inequalities, such as the gender wage gap.

Economics & Finance

How DBS Became the ‘World’s Best Bank’

V. D. Rao, R. Speculand

The Singapore titan’s tech-charged quest to take the banking out of banking has paid off handsomely.
5 comments

Economics & Finance

A Sign of the Times: The ESG Buyback

Theo Vermaelen

Using ESG sensitivities to market financial products.

Leadership & Organisations

Aligning Individual and Organisational Values

M. Guadalupe, Z. Kinias, F. Schloderer

How employees’ personal values fit within their organisation.
1 comment

Economics & Finance

Trust, Social Capital and the Bond Market Benefits of ESG

Hami Amiraslani

Although ESG-oriented investments are becoming increasingly common, their benefits are often only realised during certain time periods. So, when do these investments deliver economic payoffs?

Economics & Finance

When Scandal Hits, It Pays to Resemble the Villain

Ivana Naumovska

Financial wrongdoing by a single firm often batters its industry peers. Managers and investors may yet profit by using a granular lens to identify a handful of firms that will emerge stronger.
1 comment

Economics & Finance

In Global Trade, Familiarity Breeds Commerce

Pushan Dutt

Given time and experience, even countries far apart in geography and culture can build strong trade links.

Economics & Finance

The Missing Millennial Homebuyers

Pierre Mabille

Property prices fell during the Great Recession, but millions of millennials in the US still couldn’t afford their first homes. Here’s why – and how we could tackle the next housing crisis better.

Economics & Finance

How Africa Could Astonish the World

P. Yadav, V. D. Rao

Already the most dynamic and youngest continent, Africa could be the world’s next growth miracle – with the right type of leadership.
1 comment

Economics & Finance

Rethinking Capitalism: The Power of Creative Destruction

P. Aghion, I. Laporte

With the proper safeguards, creative destruction – the process by which the new replaces the old – remains the way to greater economic growth and prosperity.

Economics & Finance

When American Firms Misbehave, Chinese Companies Pay the Price

Ivana Naumovska

“Guilt by association” in US financial markets appears to be driven by investors’ prejudice against Chinese firms.

Economics & Finance

When Do Managers Have an Information Advantage Over Analysts?

Theo Vermaelen

The role of network centrality in timing buybacks.

Economics & Finance

There Goes the Neighbourhood: Legalised Marijuana and Property Values

Lin Tian

When a recreational marijuana dispensary opens, it depresses property prices in its immediate vicinity.
2 comments

Economics & Finance

Social Capital Makes the Difference Between ‘Good’ and ‘Bad’ Buybacks

S Huang, K Snellman, T Vermaelen

Executives who respect both the letter and the spirit of ethical norms aren’t born – they’re shaped by their home communities.

Economics & Finance

Reverse Mergers Went Bust. Will SPACs Follow?

Ivana Naumovska

Despite current exuberance, the signs don’t augur well for “blank cheque” companies.

Economics & Finance

Who Wins the Market: The Swift or the Smart?

Bart Zhou Yueshen

Both speed technology and information are vital trading inputs.

Economics & Finance

Can State and Shareholder Capitalism Combine?

The structural “liabilities” of state-owned enterprises can, in fact, be creative assets that privately owned firms can emulate.

Economics & Finance

What It’s Like to Be a Gig Worker During a Pandemic

M. Stabile, A. Roulet

How precarious workers balance financial uncertainty, health risks and mental well-being in the age of Covid-19.

Economics & Finance

Why Universal Basic Income Should Be President Biden’s Top Priority

Robert Ayres & Jeroen van der Bergh

An updated system of income and taxes would alleviate the worst crises the United States faces, including climate change. What’s more, we’ve got the numbers to prove it can work.
9 comments

Economics & Finance

In Bad Times, Decentralised Firms Outperform Their Rivals

P. Aghion, I. Laporte

When there’s increased turbulence, delegating power improves sales and productivity, boosting a firm’s chance of survival.
2 comments

Economics & Finance

Doing Good: Where Sustainable Investing Gets It Wrong

Lucie Tepla

A high sustainability rating does not necessarily equate to real sustainability impact (and profit).

Economics & Finance

A Liquidity Cushion in Troubled Times: The PE Secondaries Market

Even without deep discounts, secondaries’ modest risks and returns are attracting investor interest.

Economics & Finance

Covid Cost-Cutting May Backfire in the Long Run

Oliver Binz

Macroeconomic uncertainty makes firms more profitable in the short-term, but the bill comes due later.

Economics & Finance

How Would an Immigration Surge Affect Your Pay Cheque?

Lin Tian

Workers whose product or output is not easily sold elsewhere are more likely to lose out amid an inflow of immigrants.

Economics & Finance

How Trade Made the Richest 0.1% Even Richer

Dimitrije Ruzic

Better access to foreign markets benefited exporting firms’ top executives disproportionately more than rank-and-file workers.

Economics & Finance

Introducing Excess Value: A Metric for Private Market Outperformance

A Turetsky, M Pyrz, B Griffiths, J Lujan, I Beckel

The gains from private market investing are best understood relative to public benchmarks. But there has been no way to compare the two in currency terms – until now.

Economics & Finance

How Universal Basic Income Could Save Capitalism

Robert U. Ayres

A viable democratic social system must not allow a “winner takes all” approach.
3 comments