BP’s Failure to Debias (References)

REFERENCES

Barber, B., Lehavy, R., Trueman, B. (2007), "Comparing the Stock Recommendation Performance of Investment Banks and Independent Research Firms," Journal of Financial Economics 85, 490–517.

Baker, M., R. Ruback, and J. Wurgler (2007), “Behavioral corporate finance: A survey,” in E. Eckbo (ed.), The Handbook of Corporate Finance: Empirical Corporate Finance. New York, Elsevier/North Holland.

Ben-David, I., J. Graham, and C. Harvey (2010), “Managerial Miscalibration.” Working paper, Duke University.

BP

— (2010). “Deepwater Horizon. Accident Investigation Report.” September 8, 2010. Available at BP’s website.

— (2009). Annual report and accounts. Available at BP’s website.

— (2007). Annual report and accounts. Available at BP’s website.

Bronstein, Scott and Wayne Drash (2010), “Rig Survivors: BP Ordered Shortcut on Day of Blast,” CNN Online, June 9.

CNN Wire Staff (2010), “BP: Oil Leak Could be Stopped by Next Week,” May 21.

Crooks, Ed (2010), “BP: the Inside Story” FT.com, July 2, 2010.

Deming, W. E. (1982), Out of the Crisis. Boston: Massachusetts Institute of Technology Center for Advanced Engineering Study.

Det Norske Veritas, (2011). Final Report for United States Department of the Interior, Bureau of Ocean Energy Management, Regulation and Enforcement, Washington, D.C., Forensic Evaluation of Deepwater Horizon Blowout Preventer. Volume I, Final Report, Report No. EP03084220.

Fodor, Andy, and John D. Stowe (2010), “The BP Oil Disaster: Stock and Option Market Reactions,” SSRN working paper, June 25.

Gigerenzer, G., W. Gaissmaier, E. Kurz-Milcke, L.M. Schwartz, and S. Woloshin (2008), “Helping Doctors and Patients Make Sense of Health Statistics.” Working paper, Max Planck Institute for Human Development, Berlin.

Heath, C., R. P. Larrick, and J. Klayman (1998), “Cognitive Repairs: How Organizational Practices Can Compensate For Individual Shortcomings,” Research in Organizational Behavior, 20, 1–37.

Kaustia, M. and M. Perttula (2010), “Limits to Debiasing: Warning Bankers Against Overconfidence.” Working paper, Aalto University.

Kim, M. and F. Zapatero (2010), “Rational Bias and Herding in Analysts’ Recommendations,” Marshall School of Business working paper no. FBE 08–10.

Lyall, Sarah (2010), “In BP’s Record, a History of Boldness and Costly Blunders,” The New York Times online, July, 2.

Lustgarten, Abrahm (2010), “Years of Internal BP Probes Warned That Neglect Could Lead to Accidents,” ProPublica, June 7, 10:00 pm.

Malmendier, U., and D. Shanthikumar (2007), “Are Small Investors Naive about Incentives?,” Journal of Financial Economics 85, 457–489.

March, James and Zur Shapira (1992), “Variable Risk Preferences and the Focus of Attention,” Psychological Review, 99, 172–183.

Michaely, Roni and Kent Womack (1999), “Conflict of Interest and the Credibility of Underwriter Analyst Recommendations,” Review of Financial Studies 12, 653–686.

Molchanov, Pavel, (2009). “Getting Back to Basics,” Raymond James & Associates, Plc report, St. Petersburg, Fl, Aug 27.

Montier, James (2005), “Seven Sins of Fund Management,” DrKW Macro Research, Equity Strategy, Global, Dresdner Kleinwort Wasserstein, November 18. Republished in

Montier (2007), Behavioral Investing, Wiley ch. 8 “A Behavioral Critique,” pages 97–102.

National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling (2011), “Deep Water: The Gulf Oil Disaster and the Future of Offshore Drilling,” edited by Bob Graham and William K. Reilly.

Pressman, Aaron (2010), “Wall Street Said ’Buy, Buy, Buy’ BP Stock as Gulf Crisis Unfolded,” Reuters, October 25.

Rowell, Andy (2010), “BP: Boldness and Blunders with no Hand on the Brake,” Oil Change International.

Sappenfield, Mark (2010), “A yachting trip? The 10 worst BP gaffes in Gulf oil spill,” The Christian Science Monitor, June 20.

Shefrin, Hersh

— (2010a), “How Psychological Pitfalls Generated the Global Financial Crisis,Voices Of Wisdom: Understanding the Global Financial Crisis, Laurence B. Siegel, ed., Research Foundation of CFA Institute, 2010.–(2010b), “BP must heal a weak corporate culture” San Francisco Chronicle, August 4, p. A–10

— (2008), Ending the Management Illusion. New York: McGraw-Hill.

— (2006), Behavioral Corporate Finance. McGraw-Hill.

— (2001), “Behavioral Corporate Finance,” Journal of Applied Corporate Finance, 14, pages 113–124.

Statman M. (2010). “The BP disaster of socially responsible investing,"  What Investors Really Want: A Blog by Meir Statman, August 19. 

Sverjensky, Natalya (2010). “Beyond petroleum: Why the CSR community collaborated in creating the BP oil disaster,” August 2, Ethical Corporation.

UBS (2010). “Shareholder Report on UBS’s Write-Downs,” available on UBS’s website.

Walter, Ingo, (2010). “Commentary: If Morgan Stanley Caused the Oil Spill,” Forbes, June 9. 

Youngson, Dougie (2010), “BP. Better Positioned in 2010,” Arbuthnot Banking Group Plc report.

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