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作者：Foros, Oystein; Kind, Hans Jarle; Staehler, Frank
作者单位：Norwegian School of Economics (NHH); Eberhard Karls University of Tubingen
摘要：Competition between firms that sell incompatible varieties of network products can be fierce because it is important for each of them to attract a large number of users. The literature, therefore, predicts that stronger network effects decrease prices and profits. We show that this prediction hinges critically on an implicit or explicit assumption that each consumer buys only one of the varieties available in the market (singlehoming consumers). We show that multihoming (some consumers buying ...
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作者：De Haas, Ralph; Martin, Ralf; Muuls, Mirabelle; Schweiger, Helena
作者单位：European Bank of Reconstructon & Development; Centre for Economic Policy Research - UK; KU Leuven; Imperial College London; University of London; London School Economics & Political Science
摘要：Using data on 10,776 firms across 22 emerging markets, we show that both credit constraints and weak green management hold back corporate investment in green technologies embodied in new machinery, equipment, and vehicles. In contrast, investment in measures to explicitly reduce emissions and other pollution is mainly determined by the quality of a firm's green management and less so by binding credit constraints. Data from the European Pollutant Release and Transfer Register reveal the enviro...
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作者：Dimitriadis, Stefan; Koning, Rembrand
作者单位：University of Toronto; Harvard University
摘要：Relationships with peers help entrepreneurs learn and improve firm performance. Recent scholarship confirms that events-social gatherings such as mixers, conferences, or training programs-can help entrepreneurs build valuable social connections. Yet, for entrepreneurs in developing economies, networking frictions may make connecting with peers challenging and undermine the benefits of events. We argue that when networking frictions are high, the value of events will lie more in connecting neig...
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作者：Chen, Yangyang; Ma, Lijun; Pittman, Jeffrey; Yang, Xin
作者单位：City University of Hong Kong; University of International Business & Economics; Memorial University Newfoundland; Virginia Polytechnic Institute & State University; Shanghai University of Finance & Economics
摘要：We examine whether managers' activities in striving to reach earnings targets through real earnings manipulation affect their firms' product recalls. Our evidence implies that firms suspected of manipulating real activities in trying to meet earnings benchmarks exhibit a higher likelihood and frequency of product recalls. In cross-sectional results consistent with expectations, we find that the impact of exploiting real activities to attain earnings benchmarks on product recalls intensifies fo...
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作者：Coffman, Katherine; Klinowski, David
作者单位：Harvard University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：Across multiple studies, we investigate whether there are gender differences in preferences for receiving performance feedback. We vary many features of the feedback context: whether the performance task is a cognitive test or a mock interview, the feedback is objective or subjective, and it is possible for the provider of the feedback to discriminate on the basis of gender. Consistent with past work, we find that women are less optimistic about their performance than men and that, on average,...
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作者：Epperson, Raphael; Diederich, Johannes; Goeschl, Timo
作者单位：University of Innsbruck; Universitat Kassel; Ruprecht Karls University Heidelberg
摘要：Unit donations are an alternative fundraising scheme in which potential donors choose how many units of a charitable good to fund rather than just giving money. Based on evidence from an online experiment with 8,673 participants, we demonstrate that well-designed unit donation schemes can significantly boost giving above and beyond the standard money donation scheme. A decomposition of the underlying mechanisms shows patterns consistent with the conjecture that unit donations increase impact s...
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作者：Guo, Nan; Kou, Steven; Wang, Bin; Wang, Ruodu
作者单位：Boston University; Chinese Academy of Sciences; University of Waterloo
摘要：We propose a theory for rating financial securities in the presence of structural maximization by the issuer in a market with investors who rely on credit rating. Two types of investors, simple investors who price tranches solely based on the ratings and modelbased investors who use the rating information to calibrate models, are considered. Concepts of self-consistency and information gap are proposed to study different rating criteria. In particular, the expected loss criterion used by Moody...
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作者：Eccles, Robert G.; Ioannou, Ioannis; Serafeim, George
作者单位：University of Oxford; University of London; London Business School; Harvard University
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作者：Su, Haozhe; Tretyakov, M., V; Newton, David P.
作者单位：University of Nottingham; Nottingham Trent University; University of Nottingham; University of Bath
摘要：Transition probability density functions (TPDFs) are fundamental to computational finance, including option pricing and hedging. Advancing recent work in deep learning, we develop novel neural TPDF generators through solving backward Kolmogorov equations in parametric space for cumulative probability functions. The generators are ultra-fast, very accurate and can be trained for any asset model described by stochastic differential equations. These are single solve, so they do not require retrai...
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作者：Eberhardt, Frederick; Kaynar, Nur; Siddiq, Auyon
作者单位：California Institute of Technology; Cornell University; University of California System; University of California Los Angeles
摘要：We propose a new optimization-based method for learning causal structures from observational data, a process known as causal discovery. Our method takes as input observational data over a set of variables and returns a graph in which causal relations are specified by directed edges. We consider a highly general search space that accommodates latent confounders and feedback cycles, which few extant methods do. We formulate the discovery problem as an integer program, and propose a solution tech...
