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作者：Soda, Giuseppe; Zaheer, Aks; Park, Michael; McEvily, Bill; Subramani, Mani
作者单位：Bocconi University; University of Minnesota System; University of Minnesota Twin Cities; INSEAD Business School; University of Toronto
摘要：The predominant focus of the organizational literature on trust has been on direct interactions between actors. Whereas this emphasis has solidified our understanding of the dyadic foundations of trust, we know relatively little about the mechanisms of trust creation in network contexts. In this paper, we introduce the network mechanism of prismatic trust to explain why some actors are more trusted than others. Specifically, we posit that networks act as prisms that generate signals of trustwo...
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作者：Dasgupta, Sudipto; Li, Di; Li, Erica X. N.
作者单位：Chinese University of Hong Kong; Peking University; Peking University Shenzhen Graduate School (PKU Shenzhen)
摘要：How much value does an additional dollar of cash create for a firm? It is generally recognized that the marginal value of cash (MVC) can either exceed or fall below one dollar. Estimates of MVC can guide corporate cash and payout policy, indicate the quality of governance, and make a firm a target for takeover or activism. Yet the existing methods of estimation lack a rigorous theoretical foundation and often provide implausibly high or low estimates. In this paper, we provide a formulation of...
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作者：Law, Kelvin K. F.; Shen, Michael
作者单位：Nanyang Technological University; National University of Singapore
摘要：Does artificial intelligence (AI) displace auditors? We exploit the staggered hiring of AI employees at audit office locations across the United States as a proxy for the use of AI at local audit offices. The main findings are as follows. First, relative to audit offices that do not yet hire AI employees, those that do hire AI employees have a 4.3% increase in the number of auditor jobs, particularly among junior and midlevel auditors. Second, using AI is associated with an increased demand fo...
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作者：Li, Minwen; Makaew, Tanakorn; Winton, Andrew
作者单位：Tsinghua University; University of Southern California; University of Minnesota System; University of Minnesota Twin Cities
摘要：We propose a model of bank monitoring and borrower financial misreporting. Using the staggered liberalization of the banking sector in China as a natural experiment, we find that, consistent with the model's prediction, entry by more efficient foreign banks reduces corporate misreporting fraud. Fraud reduction is greatest among borrowers of foreign banks, but fraud also drops among borrowers of domestic banks, suggesting a spillover effect. As predicted by the model, fraud reduction is greates...
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作者：Sturt, Bradley
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：We study a class of robust assortment optimization problems that was proposed by Farias et al. [Farias VF, Jagabathula S, Shah D (2013) A nonparametric approach to modeling choice with limited data. Management Sci. 59(2):305-322]. The goal in these problems is to find an assortment that maximizes a firm's worst-case expected revenue under all ranking-based choice models that are consistent with the historical sales data generated by the firm's past assortments. We establish for various setting...
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作者：Ribas, Rafael P.; Sampaio, Breno; Trevisan, Giuseppe
作者单位：Boise State University; Universidade Federal de Pernambuco
摘要：The ranking system within academic environments may impact future professional trajectories. Examining the influence of class rank on college students' managerial attainment is crucial for understanding some determinants of career advancement. This paper estimates the effect of a low rank in a high-performing class on the probability of college students attaining a managerial position in the future. Our data combine administrative records from a highly selective university in Brazil and employ...
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作者：Zou, Tianxin; Zhou, Bo
作者单位：State University System of Florida; University of Florida; University System of Maryland; University of Maryland College Park
摘要：Recent regulations on search neutrality prohibit retail platforms from selfpreferentially prioritizing their first-party products over those of third-party sellers in consumers' search rankings. This paper shows that, despite its good intention, search neutrality may unintendedly harm consumers and third-party sellers because of the strategic decisions of the platform and third-party sellers. In the short term, search neutrality can weaken the price competition between the platform and third-p...
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作者：Denicolo, Vincenzo; Panunzi, Fausto
作者单位：University of Bologna; Centre for Economic Policy Research - UK; Bocconi University; European Corporate Governance Institute
摘要：This paper presents a theoretical framework for determining the ownership stakes held by financial investors in companies competing in the same product market, commonly referred to as the level of common ownership. In our model, these investors are primarily motivated by the anticipation of capital gains resulting from the impact of common ownership on product market competition, which enhances profitability for the firms involved. However, common ownership also undermines effective corporate ...
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作者：Shi, Qichao; Dearden, James A.; Lai, Ernest K.
作者单位：Southwestern University of Finance & Economics - China; Southwestern University of Finance & Economics - China; Lehigh University
摘要：We investigate the strategic interaction between a product expert and a consumer. The expert publicly commits to a ranking methodology to rank two products with uncertain relative merits; the consumer decides whether to acquire the ranking report to guide her product choice. The expert cares only about selling the report; the consumer derives utility from the product itself and an extra ranking attribute controlled by the expert. Strategic shuffling, in which the expert induces demand for his ...
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作者：Ahn, Dohyun; Shin, Dongwook; Zeevi, Assaf
作者单位：Chinese University of Hong Kong; Columbia University
摘要：We consider a class of sequential learning problems where a decision maker must learn the unknown statistical characteristics of a finite set of alternatives (or systems) using sequential sampling to ultimately select a subset of good alternatives. A salient feature of our problem is that system performance is governed by a set of features. The decision maker postulates the dependence on these features to be linear, but this model may not precisely represent the true underlying system structur...
