Margarita Tsoutsoura
Associate Professor of Finance and John and Dyan Smith Professor of Management and Family Business, Academic Director of the John and Dyan Smith Family Business Initiative, Samuel Curtis Johnson Graduate School of Management, SC Johnson College of Business at Cornell University
Professor Tsoutsoura is an Associate Professor of Finance and a Research Associate at the National Bureau of Economic Research. She is also the academic director of the Smith Family Business Initiative. Before joining Cornell, Tsoutsoura was associate professor of finance at the Booth School of Business, University of Chicago.
Her work was awarded the 2013 Wharton School-WRDS Award for Best Empirical Finance Paper. The Fulbright Fellowship and the WFA Trefftzs Award are among Tsoutsoura's other varied honors and fellowships. Her work has been published in the Quarterly Journal of Economics, Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. Her research has been covered extensively in print and electronic media, including The Wall Street Journal, Financial Times, The Economist, Bloomberg, NPR, New York Times, Washington Post, Guardian, BusinessWeek, International Herald Tribune, and CNBC. Tsoutsoura earned her PhD in Finance with distinction from the Columbia University, Graduate School of Business, her MSc in Financial Engineering from the Haas School of Business, University of California Berkeley, and a BSc in Economics from the University of Piraeus in Greece.
ESG, Corporate Governance & Future of the Firm
Are American Firms Becoming Politically Polarized?
A new paper examines political polarization among top executives in S&P 1500 firms, highlighting a robust trend toward political polarization in corporate...
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Antitrust and Competition
How US Antitrust Enforcement Against Xerox Promoted Innovation by Japanese Competitors
Xerox invented modern copier technology and was so successful that its brand name became a verb. In 1972, U.S. antitrust authorities charged Xerox with monopolization and eventually ordered the licensing of all its copier-related patents. As new research by Robin Mamrak shows, this antitrust intervention promoted subsequent innovation in the copier industry, but only among Japanese competitors. Nevertheless, their innovations benefited U.S. consumers.
Antitrust and Competition
Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation
The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.
Economic History
How Anthony Downs’s Analysis Explains Rational Voters’ Preferences for Populism
In new research, Cyril Hédoin and Alexandre Chirat use the rational-choice theory of economist Anthony Downs to explain how populism rationally arises to challenge established institutions of liberal democracy.
Antitrust and Competition
The Impact of Large Institutional Investors on Innovation Is Not as Positive as One Might Expect
In a new paper, Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, and Anna Toldrà -Simats study how large institutional investors impact firm innovation. The authors find that large institutional investors encourage internal research and development but discourage firm acquisitions that would add patents and knowledge to their firms’ portfolios, hampering overall innovation.
Antitrust and Competition
The FTC Needs To Focus Arguments on Technological Transitions After High-Profile Losses
Joshua Gray and Cristian Santesteban argue that the Federal Trade Commission's focus in Meta-Within and Microsoft-Activision on narrow markets like VR fitness apps and consoles missed the boat on the real competition issue: the threat to future competition in nascent markets like VR platforms and cloud gaming.
Commentary
We Need Better Research on the Relationship Between Market Power and Productivity in the Hospital Industry
Antitrust debates have largely ignored questions about the relationship between market power and productivity, and scholars have provided little guidance on the issue due to data limitations. However, data is plentiful on the hospital industry for both market power and operating costs and productivity, and researchers need to take advantage, writes David Ennis.
Antitrust and Competition
Debating the Draft Merger Guidelines: Transcript
On September 7, the Stigler Center hosted a webinar to discuss the draft merger guidelines. What follows is a slightly edited transcript of the event.
