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Research School of Business in Bloomington, conducted the research. They were assisted by former doctoral students Neal Galpin, now an assistant pro- fessor of finance at Texas A&M University's Mays Business School in College Station, and Rina Ray, now an assistant professor of finance at STUDY BRIEFS n A BOOST TO CREATIVITY Living abroad enhances an indi- vidual's creativity, according to a study conducted by William Mad- dux, assistant professor of organiza- tional behavior at INSEAD, which has campuses in Fontainebleau, France, and Singapore; and Adam Galinsky, professor of management and organizations at Northwest- ern University's Kellogg School of Management in Evanston, Illinois. The research incorporated five separate studies involving students at Sorbonne University in Paris, France; INSEAD; and Kellogg. The researchers found that stu- dents who had spent the longest time living abroad conceived the most creative solutions to prob- lems. The study the Norwegian School of Economics and Business Administration in Ber- gen, Norway. The researchers compiled a database of all news items on 458 Internet initial public offerings and a matching sample of 458 non-Internet IPOs issued between 1996 and 2000. appeared in the May issue of the Journal of Personality and Social Psychology, published by the Ameri- can Psychological Association. n WORLD BANK BIAS Research recently published in Harvard Business School's Working Knowledge indicates that members of the World Bank's executive board channel more funding to organiza- tions in their home countries. In their study, "Corporate Misgover- nance at the World Bank," law pro- fessor Ashwin Kaja and business pro- fessor Eric Werker, both of Harvard, found that the home countries of those serving on the board of direc- tors of the International Bank for Reconstruction and Development (IBRD) received twice as many funding opportunities as countries without IBRD representation. The problem, say the research- ers, is that even though each board member serves only a two-year term, not all countries have an opportunity to place officials on the board on a regular basis. The two call for more research into the patterns of World Bank funding that will offer a clearer path toward reform. They classified each news item as good, neutral, or bad. Then, they cal- culated the impact of each news item on the firm's stock market returns over the same time period. The researchers found that, when it came to news stories during that time period, "good news" outweighed "bad news" for Internet IPOs. In fact, Internet IPOs enjoyed a greater ratio of good news to bad news than other IPOs—by nearly two to one. After the bubble burst, however, Internet IPOs generated more negative news articles— by almost four to one. The research- ers found that media coverage had minimal impact on a company's finan- cial performance. In the end, they found that the level and tenor of media hype caused less than 3 percent of the more than 1,646 54 BizEd JULY/AUGUST 2009 Utpal Bhattacharya Xiaoyun Yu CASPAR BENSON/PHOTOLIBRARY