Jessica Jeffers

Work in Progress:

“The Impact of Restricting Labor Mobility on Corporate Investment and Entrepreneurship” (JMP)

“Goodwill Hunting: Corporate Social Responsibility as an Investment”

“Connecting With Co-Workers: The Value of Within-Firm Networks” with Michael Lee

“Corporate Culture as an Implicit Contract” with Michael Lee

Publications:

“In Pursuit of Good & Gold: Data Observations of Employee Ownership & Impact Investment” with Chris Geczy, David Musto and Anne Tucker, Seattle U. L. Rev. Vol. 40 (2016)

“Institutional Investing When Shareholders Are Not Supreme” with Chris Geczy, David Musto and Anne Tucker, Harvard Bus. L. Rev. Vol. 5 (2015)

“Great Expectations: Mission Preservation and Financial Performance in Impact Investing” with Jacob Gray, Nick Ashburn and Harry Douglas, Wharton Social Impact Initiative Report (2015)

• Christopher Geczy, Jessica Jeffers, David Musto, Anne M. Tucker (2021), Contracts with (Social) Benefits: The Implementation of Impact Investing, Journal of Financial Economics, 142 (2), pp. 697-718. 10.1016/j.jfineco.2021.01.006 Abstract

  We draw on new data and theory to examine how private market contracts adapt to serve multiple goals, particularly the social-benefit goals that impact funds add to their financial goals. Counter to the intuition from multitasking models (Holmstrom and Milgrom, 1991), few impact funds tie compensation directly to impact, and most retain traditional financial incentives. However, funds contract directly on impact in other ways and adjust aspects of the contracts like governance. In the cross-section of impact funds, those with higher profit goals contract more tightly around both goals. We propose an explanatory framework in which this feature results from hidden differences between agents’ preferences over impact.

• Christopher Geczy, David Musto, Jessica Jeffers, Anne M. Tucker (2017), In Pursuit of Good & Gold: Data Observations of Employee Ownership & Impact Investment, Seattle University Law Review, 40 ().
• Christopher Geczy, David Musto, Jessica Jeffers, Anne M. Tucker (2015), Institutional Investing When Shareholders Are Not Supreme, Harvard Business Law Review , 5:1 ().

• AQR Top Finance Graduate Award, 2017
• Kauffman Dissertation Fellowship, 2016
• Carlos and Rosa de la Cruz Fellowship, 2015
• LinkedIn Economic Graph Challenge Winner, 2015
• CSWEP Summer Fellowship at the Federal Reserve Bank of Atlanta, 2015
• Irwin Friend Doctoral Fellowship, 2014 Description

  Awarded for the best third year paper in Finance

• Corporate Social Responsibility Fellowship, 2014
• Wharton Social Impact Initiative Grant, 2014
• Mack Institute Grant for Innovation Research, 2013
• Univ. of Penn Dean's Fellowship for Distinguished Merit, 2011

• Announcing Winners of the LinkedIn Economic Graph Challenge - 05/11/2015

Knowledge @ Wharton

• The Regulatory Challenges of AI in Finance, Knowledge @ Wharton - 11/25/2024
• Building Stronger Family Offices by Sharing Knowledge and Securing the Future, Knowledge @ Wharton - 11/21/2024
• State of the NBA with Seth Partnow, Knowledge @ Wharton - 11/20/2024
• How Are Companies Really Using AI? A New Report Has Answers, Knowledge @ Wharton - 11/19/2024
• Impact vs. Time: A Leader’s Guide to Slow Productivity, Knowledge @ Wharton - 11/19/2024
• Kevin O’Leary Illustrates the Benefits of Tariffs for U.S. Businesses, Knowledge @ Wharton - 11/19/2024
• Boosting Donations Through Self-expressive Choices | Jonah Berger, Knowledge @ Wharton - 11/19/2024
• Why Are Hospitals So Expensive?, Knowledge @ Wharton - 11/18/2024
• New Phenomena in Behavioral and Social Investing, Knowledge @ Wharton - 11/18/2024
• Bigger Hospitals, Better Care? Wharton Research Finds Benefits Are Only at the Operational Level, Knowledge @ Wharton - 11/14/2024