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作者：Goycoolea, Marcos; Lamas, Patriclo; Pagnoncelli, Bernardo K.; Piazza, Adriana
作者单位：Universidad Adolfo Ibanez; Universidad de Chile
摘要：In 1964, Kenneth Lane proposed an algorithm to optimize the production schedule of a single-metal, single-processor open pit mine. For this, he proposed a policy based on varying, over time, the so-called cutoff grade-or grade threshold used to determine if extracted material should be ore (processed material) or waste (thrown away). Lane's algorithm had a profound impact on the mining industry. However, though it has been used in multiple commercial software systems and has traditionally been...
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作者：Kallus, Nathan; Zhou, Angela
作者单位：Cornell University
摘要：We study the problem of learning personalized decision policies from observational data while accounting for possible unobserved confounding. Previous approaches, which assume unconfoundedness, that is, that no unobserved confounders affect both the treatment assignment as well as outcome, can lead to policies that introduce harm rather than benefit when some unobserved confounding is present as is generally the case with observational data. Instead, because policy value and regret may not be ...
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作者：Levine, Oliver; Wu, Youchang
作者单位：University of Wisconsin System; University of Wisconsin Madison; University of Oregon
摘要：We exploit cross-sectional variation in the predictable changes in asset volatility following corporate acquisitions to identify the effect of business risk on capital structure. We find that postmerger changes in leverage and cash holdings are strongly predicted by expected asset volatility changes estimated using premerger information. These capital structure adjustments are partly achieved through the choice of payment method. Our findings provide direct evidence for the coinsurance effect ...
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作者：Mavruka, Taylan
作者单位：University of Gothenburg
摘要：This study examines cross-regional differences in news tone for the same news event and relates it to local stock ownership of individual investors using a combination of detailed investor and media data. The results show that news tone amplifies the overall attention effect and decreases the difference between the trading activities of local and nonlocal investors when locally sourced news is republished across regions. In general, trading activity decreases for given republished news, but it...
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作者：Davis, Andrew M.; Gaur, Vishal; Kim, Dayoung
作者单位：Cornell University; California State University System; California State University Fullerton
摘要：We investigate how different types of social information affect the demand characteristics of firms competing through service quality. We first generate behavioral hypotheses around both consumers' learning behavior and firms' corresponding demand characteristics: market share, demand uncertainty, and rate of convergence. We then conduct a controlled human-subject experiment in which a consumer chooses to visit one of two firms, each with unknown service quality, in a repeated interaction and ...
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作者：Jin, Cangyu; Levi, Retsef; Liang, Qiao; Renegar, Nicholas; Springs, Stacy; Zhou, Jiehong; Zhou, Weihua
作者单位：Zhejiang University; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Zhejiang University
摘要：This paper illustrates how supply chain (SC) analytics could provide strategic and operational insights to evaluate the risk-based allocation of regulatory resources in food SCs, for management of food safety and adulteration risks. This paper leverages data on 89,970 tests of aquatic products extracted from a self-constructed data set of 2.6 million food safety tests conducted by the China Food and Drug Administration (CFDA) organizations. The integrated and structured data set is used to con...
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作者：August, Terrence; Chen, Wei; Zhu, Kevin
作者单位：University of California System; University of California San Diego; Korea University; University of Arizona
摘要：In enterprise software markets, firms are increasingly using services-based business models built on open-source software (OSS) to compete with established, proprietary software firms. Because third-party firms can also strategically contribute to OSS and compete in the services market, the nature of competition between OSS constituents and proprietary software firms can be complex. Moreover, their incentives are likely influenced by the licensing schemes that govern OSS. We study a three-play...
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作者：Bapna, Sofia; Ganco, Martin
作者单位：University of Minnesota System; University of Minnesota Twin Cities; University of Wisconsin System; University of Wisconsin Madison
摘要：Although prior research in traditional equity financing shows that male founders are preferred, emerging evidence in low-stakes crowdfunding (e.g., rewards-based crowdfunding) indicates that female entrepreneurs may have an advantage, particularly with female investors. We seek to examine whether investors in high-stakes equity crowdfunding, which includes elements from both traditional equity financing and low-stakes crowdfunding, respond differently to male and female founders. Specifically,...
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作者：Suk, Inho; Lee, Seungwon; Kross, William
作者单位：State University of New York (SUNY) System; University at Buffalo, SUNY; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University
摘要：Although earnings persistence should have a nontrivial impact on chief executive officer (CEO) turnover decisions, prior studies have paid little attention to the role of earnings persistence in CEO turnover decisions. This study examines the effect of earnings persistence on the sensitivity (i.e., the negative relation) of CEO turnover to earnings performance. First, we find that the sensitivity of forced CEO turnovers to earnings performance is greater when earnings are more persistent. We a...
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作者：Leng, Mingming; Luo, Chunlin; Liang, Liping
作者单位：Lingnan University; Jiangxi University of Finance & Economics
摘要：We use cooperative game theory to investigate multiplayer allocation problems under the almost diminishing marginal contributions (ADMC) property. This property indicates that a player's marginal contribution to a non-empty coalition decreases as the size of the coalition increases. We develop ADMC games for such problems and derive a necessary and sufficient condition for the non-emptiness of the core. When the core is non-empty, at least one extreme point exists, and the maximum number of ex...
