Yuval M, researcher and teacher

@yuvalmillo.bsky.social

I study value and values. Professor of Accounting, Warwick Business School. All views are my own.

I was interviewed for a podcast today. Robin Powell from Timeline did a great job in interviewing Crawford Spence and me about our new book (Inertia, Columbia UP). He even got us to try and predict the future of the field of investment advice... A tricky one if you criticise financial professionals.

If the IRS deprives Harvard of its tax-exempt status, that's very bad for Harvard but it's also a catastrophe for the IRS. Instead of a neutral agency that enforces tax law, it will become a tool of partisan warfare. It may never recover.

"In financial markets social groups persist through habit, routine, and path dependency. Financial intermediaries use their positions to maintain a state of affairs from which they benefit .. portray their world as one of dynamism & innovation, in reality a strategic and purposeful inertia prevails"

Yuval M, researcher and teacher@yuvalmillo.bsky.social · last yr.

Hi, if you are interested in social studies of finance, sociology of markets and related subjects...

We assume that highly paid professionals consistently beat the market. Yet research shows that active funds often underperform passive funds, and analysts’ recommendations can be unreliable. Why does this system persist? Inertia, our new book: tinyurl.com/4rjcpc9h

Inertia | Columbia University Press

Financial professionals are paid as if they were capable of “beating the market” on a regular basis. In fact, active fund managers routinely underperform... | CUP

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Fellas, I don’t post here a lot but you should absolutely know this // help me spread the word! Violent crackdowns are happening in Tbilisi, Georgia. We are fighting for our lives here. Please, please, please help us spread the word.

I have a new article that introduces a prosocial paradigm for performance management, challenging the neoclassical focus on self-interest by emphasizing prosocial behavior and group dynamics. Drawing on evolutionary science, the paper advocates a prosocial market economy. tinyurl.com/5n6zt5hh

Performance management in the prosocial market economy: a new paradigm for economic performance and sustainability | Emerald Insight

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