I'm the Kester and Byrnes Professor at Columbia Business School. I attempt to bring academic research and insights to questions of interest to CFOs and securities regulators. I was raised in Mumbai, India but I have spent almost all of my adult life in the United States at
Has Government Counterparty Risk Become The Biggest Risk Today?
The U.S. government has a massive footprint on any U.S. company that goes way beyond just the impact of tariffs.
Taxing Universities
The cuts and taxes aimed at research universities will hobble them for decades.
DOGE Has A Historic Opportunity To Address 3 Tough Challenges
Close the annual IRS tax gap of $696 billion, help DoD address its significant internal control weaknesses and recognize $40 trillion of unfunded entitlements.
Neither US States Nor Companies Fully Disclose Corporate Subsidies
Our research suggests that barely 20 states report the governmental assistance they give companies. 80% of firms receiving subsidies worth more than $1 million do not disclose such aid in their 10Ks.
Do Our Courses Need An Update To Reflect The Workings Of Information Businesses?
Management schools and perhaps many businesses don’t fully appreciate how information businesses work.
How Will AI Change The Teaching Model In Business Schools?
AI raises hard questions of our teaching model. I suggest a few solutions.
The Doom List For 2024
Two-hundred and twelve firms in the S&P 1500 have not beaten even U.S. treasuries over the last 10 years.
Can We Trace Who Bears The Billions Of Losses Due To Severe Weather Events?
The NOAA would do well to discuss how they come up with dollar loss numbers for disasters and who bears these losses.
How Many More UPS Like Goodwill Write-Downs Hide In Plain Sight?
I found 507 firms with goodwill and intangible assets more than $1 billion on their balance sheets and market to book ratios of less than one.
Lessons For Sustainability Investing From The 2024 Election
The future may lie with a carbon tax, private sector innovation, economic inclusion of communities left behind and muscular corporate governance. Businesses will continue to treat ESG problems as business problems.