Leadership & Organizational Behavior

Prior research attributes the positive effects of passion on professional success to intrapersonal characteristics. We propose that interpersonal processes are also critical because observers confer status on and support those who express passion. These interpersonal benefits of expressing passion are, however, contingent on several factors related to the expresser, perceiver, and context. Six studies, including entrepreneurial pitches from Dragons' Den and two pre-registered experiments, establish three key findings.

The main objectives of this commentary are to discuss the replication study of Adam and Galinsky (2012, Experiment 1) by Burns, Fox, Greenstein, Olbright, and Montgomery, clarify the main idea behind enclothed cognition, supplement the literature review presented by Burns et al., discuss why our original study failed to replicate, and offer potential avenues for future research. Overall, we believe the replication study was conducted competently, and thus the results cast doubt on our finding that wearing a lab coat decreases errors on the Stroop test. At the same time, Burns et al.

I show that venture capitalists' motivation to build reputation can have beneficial effects in the primary market, mitigating information frictions and helping firms go public. Because uninformed reputation-motivated venture capitalists want to appear informed, they are biased against backing firms — by not backing firms, they avoid taking low-value firms to market, which would ultimately reveal their lack of information. In equilibrium, reputation-motivated venture capitalists back relatively few bad firms, creating a certification effect that mitigates information frictions.

We use a labor-search model to explain why the worst employment slumps often follow expansions of household debt. We find that households protected by limited liability suffer from a household-debt-overhang problem that leads them to require high wages to work. Firms respond by posting high wages but few vacancies. This vacancy-posting effect implies that high household debt leads to high unemployment.

We propose a simple measure of de facto financial market integration based on a factor model of monthly equity returns, which can be computed back to the first era of financial globalization for 17 countries. Global financial market integration follows a "swoosh" shape — i.e. high pre-1913, still higher post-1990, low in the interwar period — rather than the other shapes hypothesized in earlier literature. We find no evidence of financial globalization reversing since the Great Recession as claimed in other recent studies.

In practice and scholarship, the application of anthropology in and on business has seen substantial growth in recent years. Beyond the industries that employ anthropologists and the scholarly studies, the sheer number of people engaged in the field appears to be increasing exponentially. With so much activity emanating from business anthropology, it is surprising that so few anthropology departments in the United States offer courses on the topic, or any preparation at all for students who want to enter industry or engage in other organizational work.

This paper evaluates the effect of Paid Family Leave (PFL) on breastfeeding, which we identify using California's enactment of a 2004 PFL policy that ensured mothers up to six weeks of leave at a 55 percent wage replacement rate. We employ synthetic control models for a large, representative sample of over 270,000 children born between 2000 and 2012 drawn from the restricted-use versions of the 2003-2014 National Immunization Surveys.

Do men and women generate the same benefits from using their social ties? This study addresses this question by examining how resources are allocated within social networks. Prior research has commonly attributed observed gender differences in network benefits to the tendency for women to be embedded in networks that are poorer in social and economic resources. Implicit in this explanation is that if women had access to more valuable networks they would receive similar benefits as do men.

We develop an empirical model of exchange rate returns, applied separately to samples of developed (DM) and developing (EM) economies’ currencies against the dollar. Monetary policy stance of the global central banks, measured via a natural-language-based approach, has a large effect on exchange rate returns over the ensuing year, is closely linked to the VIX, and becomes increasingly important in the post-crisis era.