Firms in industry clusters have market prices that are more efficient than firms outside clusters. To establish causality, we analyze exogenous firm relocations and find that firms that relocate into industry clusters have higher levels of industry information in their prices. We argue that geographical proximity allows for information spillovers, reducing marginal cost to information producers. Our evidence supports this view: Analysts are more likely to cover stocks inside industry clusters, and when institutional investors have a large position in one stock in the industry cluster, they are more likely to hold other stocks in the same industry cluster.

Older workers make up a substantial portion of today’s labor force. Yet little is known about the beliefs held by this age group. Our study offers some much needed insights into intersectionality around this group, by investigating how older workers’ perceptions of supervisors performing a gendered leadership behavior are impacted by a supervisors’ sex, age, and gendered attributes. The results show that these supervisors are perceived most favorably when they possess communal qualities and/or when they are depicted as being older than their direct reports. Our results also reveal that, when these supervisors are not perceived as communal, male but not female supervisors, experience a backlash. Within this context, young female leaders appear to be at an advantage when compared with young male leaders. This study advances the literature on the ‘think manager–think male’ stereotype and has the practical benefit of offering insights into leader-follower interactions in today’s aging workplace.

The divide between hard law and soft law approaches to global regulation of corporations in relation to human rights is partly based on empirical assumptions. Taking a step back, we assess the claims concerning the current state of global regulation and political feasibility of hard law approaches. Moving beyond the usual suspects, we map 98 existing standards that regulate corporations and find a great variation in how different sectors treat human rights and accountability issues. Turning to the explanation of the current jungle of global business and human rights regulation, we contrast and test dominant and competing expressive theories with a consequentialist commitment curve, in which corporations and states seek to minimize human rights commitments. We find support for all approaches to regulatory reform, but argue that greater attention should be given to the consequentialist insights, and how political economy can be leveraged to strengthen regulatory outcomes.

We examine supervisor-subordinate (dis)agreement regarding perceptions of the supervisor’s ethical leadership and its relationship to organizational deviance. We find that, on average, supervisors rate themselves more favorably on ethical leadership compared to how followers rate them. In addition, polynomial regression results reveal that unit-level organizational deviance is higher when there is agreement about lower levels of ethical leadership, and disagreement when supervisors rate themselves higher on ethical leadership than subordinates’ ratings of the supervisors. Finally, drawing on social influence theories, we look at antecedents of (dis)agreement and find that supervisors’ beliefs about themselves (that they were “better-than-average” ethical leaders) and others (their assumptions about whether the morality of their subordinates is malleable or not) are associated with self-other (dis)agreement on ethical leadership.

Perkins and Murmann (2018) advance a provocative thesis, based on Tesla Motors, that ‘a well-funded company could develop a new electric vehicle (EV) from scratch and move it into production within 3 to 5 years. . . .’ This thesis of feasibility – indeed likelihood – of more new entrant EV automakers is at odds with my recent work (e.g., Jacobides, MacDuffie, & Tae, 2016; MacDuffie, 2013) which argues that automotive OEMs have been able to prevent extensive value migration to suppliers and new entrants due to their structural role as system integrators with the capabilities to manage a primarily integral product and organizational architecture. This role is bolstered by societal demands for OEMs to meet regulatory requirements for safety and handle legal liability claims. These structural features have helped automotive OEMs avoid the fate of IBM, which saw massive value migration, after introducing the modular PC, to Intel and Microsoft (suppliers of key components). These same features, I argue, will position these OEMs for continued centrality, forestalling a wave of successful new entrants despite many new, disruptive changes in technology and business models.