Coresignal Sponsors UC Hastings Center for Business Law in Bid to Demonstrate Alternative Data's Value for Research
October 06, 2021
Coresignal is pleased to announce a sponsorship deal with the UC Hastings Center for Business Law to assist its research efforts with alternative datasets. The study will analyze the effect of company financial distress and bankruptcy on its workforce. It is the first study in the field of business law to use public web data which enables extracting deep insights into company and workforce dynamics.
UC Hastings Center for Business Law will study how bankruptcy filings and financial distress impact the workforce and potentially hinders recruitment efforts. The Center will use these Coresignal’s datasets, among other data, to conduct their research:
- Employee data
- Firmographic data
- Job postings data
- Company employee reviews
It is our pleasure to announce a sponsorship deal with UC Hastings Center for Business Law, as they have a stellar reputation for conducting high-quality research. We hope it will demonstrate the utility that alternative data offers in research contexts, and we continue to look for new sponsorship opportunities in line with our company values.
— Jeremy Ward, CMO at Coresignal
The study is carried out under the direction of Professor and Director of the UC Hastings Center for Business Law, Jared Ellias, who commented: "there are lots of social science questions that used to be very challenging for researchers to tackle. Yet today, many people provide various types of information online, on public platforms. Thanks to aggregated public web data, we can learn more and try to answer questions that were formerly out of reach. After working extensively with Coresignal's data, I've found it to be very intelligently put together, and I think Coresignal does excellent work."
What is the study about?
The objectives of the study are largely based on the current tropes surrounding large company bankruptcy. As Jared Ellias put it, "in the bankruptcy world, there's a firm belief that a bankruptcy filing causes employees to leave companies, and it makes it hard to recruit. It is incredibly problematic for modern companies."
It then raises the question of how the bankruptcy system ought to be administered and measured: "Companies today are built around talented people, and to that extent, the bankruptcy system doesn't do a good job. It makes it difficult to retain talented people or allow firms to preserve their value by preserving and motivating their employees and attracting new high-quality employees."
Other research questions
- Do employees leave companies when they file for bankruptcy?
- How do prospective employees perceive companies that filed for bankruptcy?
- Are people more likely to leave companies that filed for bankruptcy?
- Do people join companies that filed for bankruptcy?
The UC Hastings Center for Business Law will specifically examine companies with the following criteria: companies with publicly traded bond or loan debts, chapter 11 filings, and $500 million (USD) plus in assets or liabilities. The study also focuses on the relationship between large companies and their current, past, and prospective employees' satisfaction.
In all, we hope this study will become a milestone for the use of public web data in research. It is crucial to provide researchers with the adequate tools and resources to promote the advancement of science and it is our belief that alternative data is a powerful tool in this regard. For this reason, Coresignal invites all non-profit research institutions to apply for a data sponsorship. Please reach out via email at [email protected].
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