-
作者：Hu, Ming; Jin, Yannan; Keppo, Jussi
作者单位：University of Toronto; Shanghai University of Finance & Economics; National University of Singapore
摘要：We examine the impact of crowdfunding on venture capital (VC) investments in the presence of competition among VC firms. Our economic model comprises a startup, a crowdfunding platform, and two VC firms, each with its own perception of the startup's potential. The startup seeks equity funding from the VC firms and decides on the size of its equity offer. If the VC firms decline to invest, the startup pivots to crowdfunding. Following the crowdfunding campaign, all firms update their beliefs ab...
-
作者：Xu, Kan; Bastani, Hamsa
作者单位：Arizona State University; Arizona State University-Tempe; University of Pennsylvania
摘要：Decision makers often simultaneously face many related but heterogeneous learning problems. For instance, a large retailer may wish to learn product demand at different stores to solve pricing or inventory problems, making it desirable to learn jointly for stores serving similar customers; alternatively, a hospital network may wish to learn patient risk at different providers to allocate personalized interventions, making it desirable to learn jointly for hospitals serving similar patient popu...
-
作者：Zou, Fan; Dong, Yan; Hu, Kejia; Venkataraman, Sriram
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of South Carolina System; University of South Carolina Columbia; University of Oxford
摘要：This study examines the impact of mobile virtual network operators (MVNOs) on the performance of mobile network operators (MNOs) in the presence of overlapping generations of wireless mobile network technologies (2G and 3 G). MVNOs distribute MNOs' mobile services to customers without owning any spectrum or network infrastructures, either as a subsidiary (branded MVNOs) or delegated under wholesale agreements with MNOs (third-party MVNOs). We investigate MVNO value chain governance, that is, d...
-
作者：Loch, Christoph
作者单位：University of Navarra
-
作者：Aleti, Saketh; Bollerslev, Tim; Siggaard, Mathias
作者单位：Duke University; Aarhus University; CREATES
摘要：We provide strong empirical evidence for time-series predictability of the intraday return on the aggregate market portfolio by exploiting lagged high-frequency crosssectional returns on the factor zoo. Our results rely on the use of modern machine-learning techniques to regularize the predictive regressions and help tame the signals stemming from the zoo together with techniques from financial econometrics to differentiate between continuous and theoretically nonpredictable discontinuous high...
-
作者：Song, Tingting; Ho, Yi-Chun (Chad)
作者单位：Shanghai Jiao Tong University; George Washington University
摘要：This study investigates how tie formation shapes the production of usergenerated content on social media, offering insights into enhancing user engagement and alleviating social media fatigue. We conceptualize tie formation as a relationship codevelopment process involving a tie initiator and a respondent. Drawing on social psychology literature, we propose a framework that traces how initiators' social cognition evolves throughout this process-from proactively extending an inviting social tie...
-
作者：Gao, Sarah Yini; He, Yan; Zhang, Ruijie; Zheng, Zhichao; Lam, Shao Wei; Tan, Emile
作者单位：Singapore Management University; ShanghaiTech University; Singapore General Hospital
摘要：Two-stage screening programs for colorectal cancer (CRC) detection typically involve a first-stage test that evaluates fecal-hemoglobin (f-Hb) concentration in stool samples, with positive results leading to a recommended second-stage diagnostic test (colonoscopy). We explore the design of the first-stage test-specifically the selection of f-Hb cutoffs to report test outcomes-to balance screening effectiveness (CRC and polyp detection) and efficiency (colonoscopy costs), considering that not a...
-
作者：Durney, Michael T.; Gee, Kurt H.; Wiebe, Zac
作者单位：University of Iowa; University System of Ohio; Ohio State University; University of Arkansas System; University of Arkansas Fayetteville
摘要：GAAP's Management Approach to segment reporting (ASC 280) requires firms to report segment profit/loss as the measure managers use when allocating resources internally across segments under the assumption that investors benefit from viewing segment performance through the eyes of management. We examine how segment performance measurement aligns with the way that investors use segment profit/loss measures externally. We first survey professional investors and find that they primarily use segmen...
-
作者：Tao, Jun; Chen, Qian; Snyder Jr, James W.; Kumar, Arava Sai; Meisami, Amirhossein; Xue, Lingzhou
作者单位：Adobe Systems Inc.; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Marketers rely on various online advertising channels to reach customers and are increasingly interested in multi-touch attribution, which evaluates the contribution of each touchpoint to a conversion. However, as the numbers of marketing channels and touchpoints increase, the attribution challenge becomes more intricate because of the complex interplay among different touchpoints within and across channels. Utilizing customer path-to-purchase data, this article addresses this challenge by dev...
-
作者：Gaertner, Fabio B.; Hoopes, Jeffrey L.; Kelley, Stacie O.; Pflitsch, Max
作者单位：University of Wisconsin System; University of Wisconsin Madison; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; Dortmund University of Technology
摘要：The Inflation Reduction Act establishes a new 15% corporate minimum tax on the adjusted financial accounting income for large U.S. corporations. Although the minimum tax is estimated to raise $222 billion over 10 years, some fear firms will manipulate their accounting earnings to reduce their tax liabilities, resulting in less revenue raised. Using an event study, we examine the extent to which investors believe this tax will reduce firm value. We examine stock market reactions around key legi...
