firms

The “Pecking Order” of Firm Growth

A person smiles toward the viewer in a sunlit room. Are growing companies better off acting on new, innovative ideas — or scaling their existing ones? In “Capital, Ideas, and the Costs of Financial Frictions,” Professor Thomas Winberry explores how firms balance investment in current operations with the pursuit of future innovations. This paper earned the 2024 Marshall Blume Prize…Read More

The Financial Power of Data Sharing Among Firms

A headshot of a person with curly hair and a friendly smile, wearing a light-colored top against a neutral background. What is the scope of data-sharing across firms, and what are the economic implications? In her study, "Data as a Networked Asset," supported by the Stevens Center for Innovation in Finance, Huan Tang, assistant professor of finance at Wharton, uncovers a hidden network of inter-firm data flows – revealing that…Read More

“Carbon Burden” and Firms’ Value to Society

Professors Luke Taylor and Robert Stambaugh How much of a firm’s value to society is hidden by traditional financial metrics? In this interview, Professors Robert Stambaugh and Luke Taylor dive into their study, "Carbon Burden," which is part of the Jacobs Levy Center's working paper series. This paper aims to quantify the U.S. corporate sector’s carbon…Read More