Conference and seminar output

Nothing Ventured Nothing Gained: Identifying and Managing Risk in Today's World

Keynote address, European Family Office Conference, London.

Effects of organizational change on worker wellbeing and the moderating role of trade unions

We explore the effects of organizational change on employee wellbeing using multivariate analyses of linked employer-employee data for Britain, with particular emphasis on whether unions moderate these effects. Our nationally representative data consist of 13,500 employees in 1,238 workplaces. Organizational changes are associated with increased job-related anxiety and lower job satisfaction.

Less Austerity, More Growth?

ENEPRI Conference: EU Growth Prospects in the Shadow of the Crisis, 22 October 2012, Brussels

Prospects for Europe

Prepared for United Nation's Project LINK Meeting, 22-24 October 2012, New York

Fiscal Consolidation During a Depression

Prepared for United Nation's Project LINK Meeting, 22-24 October 2012, New York

CEO Bonding: Who Posts Performance Bonds and Why?

Despite their theoretical value in tackling principal-agent problems at low cost to firms there is almost no empirical literature on the prevalence and correlates of performance bonds posted by corporate executives. Using data for China we examine their incidence and test propositions from principal-agent theory regarding their correlates. Around one-tenth of corporations deploy performance bonds. They are sizeable relative to CEO cash compensation.

Are You Happy While You Work?

Recent work in psychology and economics has investigated ways in which individuals experience their lives. This literature includes influences on individuals’ momentary happiness. We contribute to this literature using a new data source, Mappiness (, which permits individuals to record their wellbeing via a smartphone. The data contain more than a million observations on tens of thousands of individuals in the UK, collected since August 2010.

What Happens When Employers Are Free To Discriminate? Evidence From the English Barclays Fantasy Football Premier League

Research on employers’ discrimination is limited by the unlawfulness of such activity. As such, researchers have focused on the intention to hire, rather than hiring decisions and wage settlements. Instead, we rely on a virtual labour market, the UK Fantasy Football league where employers can freely exercise their taste for racial discrimination in terms of hiring, firing workers. We find employers pick players who have performed well in previous games but they are less likely to pick the highest performing players if they are black.

The CEO Labour Market in China's Listed Companies

Using panel data for all of China's public listed firms over the period 2001-2010 we examine how firms have recruited and rewarded their executives over a decade of huge growth and turbulence. CEO pay is sensitive to firm performance, although the elasticities are lower than for the United States and Europe, especially with respect to returns on assets (ROA). CEO pay rises with firm size and growth, with elasticities resembling those for the United States. We find no dramatic response to the stock market crash of 2007/08.

Employee Share Plans: What's In It For Your Firm and Your Workforce?

Presentation to Chinese employers at Computershare and Deloitte sponsored seminar, Shanghai. Presented evidence on effects of share plan membership on worker productivity and implications for Chinese firms.