A catalytic method for hydroformylating a cyclooctadiene substrate involving forming a reaction mixture that includes the cyclooctadiene and a precursor of or a transitional metal ligand complex where the ligand has structure (1): H2 and CO are fed into the reaction mixture and the mixture is heated to convert the cyclooctadiene into an aldehyde. A preferred ligand is 2-(anthracen-9-yloxy)-4,4,5,5-tetramethyl-1,3,2-dioxaphospholane.