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  1. The Great and the Small: The Impact of Collective Action on the Evolution of Board Interlocks after the Panic of 1907

    Conventional research in organizational theory highlights the role of board interlocks in facilitating business collective action. In this article, I propose that business collective action affects the evolutionary path of interlock networks. In particular, large market players’ response after a collective action to the classic problem of the "exploitation" of the great by the small provides a mechanism for interlocks to evolve.

  2. Variation in the Protective Effect of Higher Education against Depression

    Numerous studies document that higher education is associated with a reduced likelihood of depression. The protective effects of higher education, however, are known to vary across population subgroups. This study tests competing theories for who is likely to obtain a greater protective benefit from a college degree against depression through an analysis of data from the National Longitudinal Study of Adolescent to Adult Health and recently developed methods for analyzing heterogeneous treatment effects involving the use of propensity scores.

  3. Where Does Debt Fit in the Stress Process Model?

    This paper contrasts two money-related stressors—debt and economic hardship—and clarifies where debt fits into the stress process model. Debt may be a direct or indirect stressor, as something mediated by psychosocial resources, and may be a potential buffer, interacting with economic hardship. The analyses use data from a two-wave panel study of 1,463 adults. One way debt is distinct from economic hardship is that debt is more common among economically advantaged groups.

  4. The Causes of Fraud in the Financial Crisis of 2007 to 2009: Evidence from the Mortgage-Backed Securities Industry

    The financial crisis of 2007 to 2009 was marked by widespread fraud in the mortgage securitization industry. Most of the largest mortgage originators and mortgage-backed securities issuers and underwriters have been implicated in regulatory settlements, and many have paid multibillion-dollar penalties. This article seeks to explain why this behavior became so pervasive. We evaluate predominant theories of white-collar crime, finding that theories emphasizing deregulation or technical opacity identify only necessary, not sufficient, conditions.

  5. The Price of Protection: A Trajectory Analysis of Civil Remedies for Abuse and Women’s Earnings

    We know men’s violence against women is costly. Yet, we know little about the costs—or benefits—of women’s efforts to end it. This study investigates the temporal dynamics of women’s earnings and petitioning for a Protection from Abuse (PFA) civil restraining order. Women’s earnings might rise or fall at the time of petitioning but quickly return to pre-petitioning levels, a short-term boost or shock; or, petitioning might precipitate a longer-term stall or upward shift in women’s earnings.

  6. Contexts: Untethered

    Fall 2016 Vol. 15 No. 4

    Features include "Financial Foreclosures," "Fat Eggs or Fit Bodies," "God's Case for Sex," "Revisiting the Rationing of Medical Degrees in the United States," and "Activating Politics with Poetry and Spoken Word."

  7. Study: Banks Hired Risk Officers to Mitigate Risk in Years Before Collapse. It Didn’t Go So Well

    New research suggests a significant number of national and international American banks hired new Chief Risk Officers to mitigate risk but may have actually helped lead the industry into widespread insolvency.

    Starting in the 1990s, many major banks hired Chief Risk Officers (CROs) in a response to new laws and regulations put in place following financial meltdowns in the 1980s. In an effort to comply, banking officials elevated risk analysts to corner offices to show they were serious about tackling risk.