Todd Arthur Bridges, Ph.D.

Biography

Todd Arthur Bridges, Ph.D.                                  
    

Office Contact Information:
  Permanent Contact Information:
Cornell University
  2443 Fillmore Street, #442
Center for the Study of Economy and Society
  San Francisco, CA 94115
332 Uris Hall
  United States of America
Phone: 607-255-7409          Phone: 415-603-1122  
Email: tab259@cornell.edu    
  Email: toddarthurbridges@gmail.com


Previous Education:

Doctor of Philosophy      Economic Sociology, Sociology of Finance, and Organizational Theory
Master of Arts                
Economic Sociology and Social Theory
Bachelor of Science 
      Finance, Economics and Philosophy

Research Website & Blog:
Research
 http://toddarthurbridges.org     
Blog http://toddarthurbridges.blogspot.com                                                                 
LinkedIn
http://www.linkedin.com/in/toddarthurbridges
Facebook
https://www.facebook.com/toddarthurbridges
Twitter
https://twitter.com/bridgestweet
Kiva Micro-Finance
http://www.kiva.org/lender/toddarthurbridges

Research Interests:

Socio-Economics,
Finance, Behavioral Finance, Networks and Institutions, Hedge Funds and Venture Capital, Law and Economy, Mixed Methods Research, Meso-Level Social Order, Extra-Legal Governance

Work Experience: (download resume)
Cornell University - Center for the Study of Economy and Society
Ithaca, NY
Postdoctoral Research Associate
Max Planck Society for the Advancement of Science
Cologne, Germany
Postdoctoral Research Fellow
University of Oxford
Oxford, UK
Doctoral Visiting Fellow  
Massachusetts Institute of Technology (MIT)
Cambridge, MA
Research Project Manager
Brown University
Providence, RI
Research Project Manager
Organization for Economic Cooperation and Development (OECD)
Paris, France
Research Analyst
University of Chicago
Chicago, IL Research and Spatial Analyst
NORC at the University of Chicago
Chicago, ILResearch and Spatial Analyst
National Bureau of Economic Research (NBER)
Chicago, ILResearch and Spatial Analyst
University of Chicago Booth School of Business
Chicago, IL
Research Analyst
Thomas Weisel Partners LLC
San Francisco, CA
Research Analyst
JP Morgan Chase
New York, NY
Research Intern

Teaching Fellowships:
Soc 6331
Economy and Society
Cornell University
Postdoc-Teaching
Soc 187
Economic Sociology
Brown University
Co-Teaching
Soc 109
Theories of Organizational Dynamics--Org Theory (3 semesters)
Brown University
Teaching Assistant
Soc 156
Quantitative Methods
Harvard University
Teaching Fellow
Soc 150
Economic Development and Social Change
Brown University
Teaching Assistant
Soc 110
Statistics for Social Scientists (2 semesters)
Brown University
Teaching Assistant
MBA
International Trade
University of Chicago
Teaching Assistant

Grant Experience:

Professor
Victor Nee
"The Making of Knowledge-Based Metropolitan Economies: IT-Start-ups in International Comparison"
Cornell University
Professor
Susan Silbey
"Governing Green Laboratories: Trust and Surveillance in the Cultures of Science"
Massachusetts Institute     of Technology
Professor
Mark Suchman
"The Contracting Universe: Law Firms and the Evolution of Venture Capital Financing in Silicon Valley"

Brown University
Professor
Robert Fogel
"EXDID: Explaining the Decline in Infant Mortality During the 20th Century" (details)
The University of Chicago
Professor
Robert Townsend     
"Spatial Analysis and the Role of Social Networks in the Economic Development of Thailand" (details)
The University of Chicago
Professor
John Romalis
"Implications of the North American Free Trade Agreement (NAFTA)"
The University of Chicago

Selection of Papers and Presentations:

Bridges, Todd Arthur. 2012. "Governing Shades of Grey: The Emergence of Market Governance in the Absence of a Formal Institutional Environment." Working Paper #67, Center for the Study of Economy and Society, Cornell University. (download presentation)   

Bridges, Todd Arthur. 2012. "Beyond Embedded Governance: Theorizing How Market Governance Emerges in the Modern Financial System."
Paper presented at Embeddedness and Beyond: Do Sociological Theories Meet Economic Realities?, National Research University Higher School of Economics. Moscow, Russia.


Bridges, Todd Arthur (2012). "Governing the New Institutional Structure of Financial Markets." Paper presented at the Max Planck Institute for the Study of Societies and Max Planck Society for the Advancement of Science. Cologne, Germany. 

Bridges, Todd Arthur (2012). "Governing a Parallel Financial System: The Interaction of Formal and Informal Institutions at the Regulatory Event Horizon." Paper presented at the National Research University Higher School of Economics, Economic Sociology Lecture Series. Moscow, Russia.

Bridges, Todd Arthur (2011). The Governing Architecture of a Shadow Financial Market:  Investigating the Interaction of Legal and Extra-Legal Governance Structures at the Regulatory Event Horizon
. Brown University-Dissertation. Providence, United States of America.

Bridges, Todd Arthur (2011). “The Governing Architecture of a Shadow Financial Market:  Investigating the Interaction of Legal and Extra-Legal Governance Structures at the Regulatory Event Horizon.” Paper presented at the 2011 Annual Meeting of the American Sociology Association (ASA)—Economic Sociology Session organized by Victor Nee entitled New Institutionalism in Economic Sociology. Las Vegas, United States of America.

Bridges, Todd Arthur (2011). “The Extra-Legal Governance Structure of a Shadow Financial System: A Sociological Investigation of Economic Governance in the Absence of Formal Regulation.” Paper
presented at the 2011 Annual Meeting of the Society for the Advancement of Socio-Economic (SASE)—session on Networks: Finance & Society. Madrid, Spain.


Bridges, Todd Arthur (2011). “The Avoidance of Law Does Not Lead to an Absence of Law: A Sociological Investigation of Law and Organizations in a Shadow Financial Market.” Paper
presented at the 2011 Annual Meeting of Law & Society Association (LSA)—session on Economic Regulation: Law & Society. San Francisco, United States of America.


Bridges, Todd Arthur (2011). “The Extra-Legal Governance Structure of a Shadow Financial System: A Sociological Investigation of Economic Governance in the Absence of Formal Regulation.” Paper
presented at the 2011 Annual Meeting of the British Sociological Association (BSA)—session on Work, Economy & Society. London, England.


Bridges, Todd Arthur (2011). “The Evolution of Corporate Governance: Investigating New Forms of Regulation in the Financial Markets.” Paper presented at the 2011 symposium of Adolf A. Berle, Jr. Center on Corporations, Law & Society. Seattle, United States of America.

Bridges, Todd Arthur (2010). “Governing the Quest for Alpha: Coordination, Regulation, and Contestation in the U.S. Hedge Fund Market.”  Paper presented at the 2010 Annual Meeting of The Society for the Advancement of Socio-Economics (SASE)session on Networks: Markets, Firms & Institutions. Philadelphia, United States of America.

Bridges, Todd Arthur (2010). “Defining the ‘Self’ in Regulation: A Socio-Legal Investigation of the U.S. Hedge Fund Market.” Paper presented given at the
2010 Annual Meeting of Law & Society Association (LSA)session on Economy & Society: Comparative Perspectives on Credit, Banking, and Securitization. Chicago, United States of America.

Bridges, Todd Arthur (2010). “Constructing Governance in The Shadow Financial System: An Empirical Investigation of Social Institutions and Structures in the Hedge Fund Market.”  Paper presented at the
2010 Annual Meeting of the Eastern Sociological Society (ESS)session on Financial Markets and Regulations. Cambridge, United States of America.

Suchman, Mark C., Todd Arthur Bridges and Sue Monihan (2009). “The Organizational Response to HIPAA: An Analysis of the Views of Health Privacy Officers,” The Governance of Health Information Technology Project, Project Report. Providence,
United States of America.

Bridges, Todd Arthur (2008). Controlling Capital: The Role of Social Structure in the Financial Markets. Brown University PhD Qualifying Paper. Providence,
United States of America.

Bridges, Todd Arthur (2006). Embedding Intellectual Property Rights in Social Relations: A Macro-Micro Theoretical Model. Brown University Master's Thesis. Providence,
United States of America.

Bridges, Todd Arthur (2005). "Trends in International Migration within the OECD Member Countries." Project report given to the Organization for Economic Cooperation and Development (OECD), International Futures Program. Paris, France.


Bridges, Todd Arthur (2002).  "Preliminary Findings on the Linkage between Infant Mortality and Education in Early Twentieth Century Chicago." Center for Population Economics at The University of Chicago, Working Paper No. 2002-3. Chicago,
United States of America


Project Title:
The Governing Architecture of a Shadow Financial Market:  Investigating the Interaction of Legal and Extra-Legal Governance Structures at the Regulatory Event Horizon

Abstract:

Since the 1980s, the shadow financial system has exponentially grown in size and has supplanted the traditional banking system as a dominant source of credit and liquidity for the U.S. economy. As the 2008 financial collapse revealed, however, the formal institutional environment--the rules issued by the state and monitored by federal administrative agencies--has limited authority over the financial organizations within this shadow financial system. As a result, entire sectors of the U.S. economy operate beyond traditional law and regulation—at the regulatory event horizon—and pose systemic risks to the broader economy and society. My research project consists of a multi-stage, multi-method empirical investigation into how a governing architecture is being constructed within one of the most influential and powerful markets in the shadow financial system. Specifically, the U.S. hedge fund market is an important social laboratory because it offers qualities of a pseudo-natural experiment wherein the formal regulatory structures that operate in the traditional financial system have been removed, leaving organizations the opportunity to create their own governing architecture. The empirical data come from 4 years of fieldwork, 40 semi-structured interviews with expert informants, and a comprehensive alternative investment fund database. The empirical results from my investigation reveal a complex set of interacting formal and informal governance mechanisms, which operate at the intra and inter organizational dimensions of the market. For example, data analysis revealed that although most hedge funds avoid the formal law and regulation issued by the state, the avoidance of law does not lead to an absence of order within the organizations or the broader organizational field. To the contrary, this formally “unregulated” market has become ordered and institutionalized by the interaction of legal and extra-legal governance structures, and has developed well-defined governance failures.


The project provides policymakers and federal regulators empirically-based insight into how powerful and opaque financial organizations in the shadow financial system avoid the formal institutional environment, govern in the absence of formal law and regulation, and have created a number of governance failures—which can potentially be mitigated to protect the U.S. economy and society. At the same time, the project provides sociologists and economists an empirically-based social laboratory to advance a theoretical understanding of how organizations actively construct governance structures within a shadow financial market, how informal governance structures are interrelated with the formal institutional environment, and how the interaction of multiple governance mechanisms converge to create a governing architecture with well-defined governance failures.


Professional Membership and Activities:
2004-presentMember, American Sociological Association (ASA)
2006-present
Member, Economic Sociology Section of the American Sociological Association
2007-2012
Member, Sociology of Law Section of the American Sociological Association
2008-present
Member, Organizations, Occupations and Work Section of the American Sociological Association
2008-2012
Member, International Network for Social Network Analysis (INSNA)
2009-presentMember, The American Academy of Political and Social Sciences (AAPSS)
2009-2012Member, The Law & Society Association (LSA)
2009-presentMember, Society for the Advancement of Socio-Economics (SASE)
2010-2012
Member, Eastern Sociological Society (ESS)
2010-present
Member, International Sociological Association (ISA)
2010-present
Research Committee for Economy & Society, International Sociological Association
2010-present
Research Committee for Sociology of Law, International Sociological Association
2010-present
Member, British Sociological Association (BSA)

Professional Awards and Fellowships:
2011-12Max Planck Society for The Advancement of Science (MPIfG), Postdoctoral Fellowship 
2010The Hazeltine Fellowship
2009Russell and Selina Wonderlic Fellowship
2008
Commerce, Organizations, and Entrepreneurship (COE) Dissertation Research Improvement Grant
2008
Brown University Dissertation Fellowship
2007             
Harvard University Teaching Fellowship
2006-2008Brown University Summer Research Fellowship
2005-2008
Brown University Graduate Fellowship