In another installment of our Media Watch series, The Practitioner brings you some of the latest thinking from “the buckets” or core disciplines of behavioral science, management science, finance and law.
Despite considerable focus these days on bullying (cyber, school, and workplace), the latest research coming out of Johns Hopkins University and Cornell University presents an interesting counterpoint to its effects. The article, “Outside Advantage: Can Social Rejection Fuel Creative Thought?” (forthcoming in the Journal of Experimental Psychology) is co-authored by Sharon Kim (Johns Hopkins University Carey Business School), Lynne Vincent and Jack Goncalo (both of Cornell University) and shows that independent minded people experience rejection as affirmation of their being different and exceptional. Rejection, for those with an “independent self concept,” can lead to positive outcomes. Kim holds that, “the creative person with an independent self-concept might even be said to thrive on rejection.” Winner of the award for best paper at the Academy of Management conference this month, the paper can be downloaded here.
The Secrets of Success
A must-read new study authored by Dennis Jaffe (Saybrook University) and Jane Flanagan (FOX) outlines best practices shared by 192 of the most successful multigenerational businesses around the globe. In his introduction James (Jay) E. Hughes says that until this study, “Very little serious research has been done on such best practices; thus leaving only anecdotal evidence to be discussed.” The report is filled with both valuable statistical findings as well as practical advice for families and their advisors.
Across the Pond
Less than a month after the London Olympics, the longstanding love affair with the UK continues. However, when it comes to family offices and intergenerational wealth transfer there may yet besomething to be learned across the pond. In, “What Should UK Family Offices Be Learning from the US?” published in Spear’s Wealth Wednesday series, author Freddy Barker argues that there is acontinental divide in the two countries’ attitudes to wealth preservation. “Both crave it, but New York’s financiers believe that next-generation entrepreneurship is the most effective way to achieve it, whereas London’s think investment management is.” Regardless of which “side you’re on” the article is certainly worth the read!
Invest it Forward…Creating Spend Down Foundations
Next gen philanthropists are changing the face of giving. Thinking more like Silicon Valley entrepreneurs, these next gens are creating spend down foundations and investing in not-for-profits. According to, “The New Philanthropists and The Blurring of Business and Giving'” published in the inaugural issue of CampdenNXG, “the Holy Grail these days is to create a not-for-profit that is self-sustaining – which is known as social enterprise, or social entrepreneurship. And the key to that is making it pay for itself in some way.” The article explores the tensions and tactics (including creating spend down foundations) of this new approach.
We hope you enjoy our roundup of the latest developments and invite you to share your thoughts and recommended readings in the “Comments” section here. Stay tuned next week when we will have the first in a series of interviews with prominent leaders in the field beginning with FFI chairman Mark Evans!
Add your voice the discussion by using the comment space*, share with others via our social sharing buttons, subscribe to the blog, or become a guest blogger or contributor.
Yours in Practice,
*To post a comment as a member please sign in to your account. If you are not a member and would like to join the discussion, please Register as a Guest here.