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作者：Leib, Margarita; Kobis, Nils C.; Francke, Marc; Shalvi, Shaul; Roskes, Marieke
作者单位：University of Amsterdam; Vrije Universiteit Amsterdam
摘要：Precise, compared with round, asking prices lead to counteroffers and final agreements that are closer to the asking price. Consequently, popular advice for sellers is to set precise asking prices. We propose that the advice is useful, but only in a buyer's market, in which buyers counter below the asking price. In a seller's market, in which buyers counter above the asking price, sellers who wish to receive high counteroffers and sell for high prices should set round asking prices. A preregis...
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作者：Busse, Jeffrey A.; Chordia, Tarun; Jiang, Lei; Tang, Yuehua
作者单位：Emory University; Tsinghua University; State University System of Florida; University of Florida
摘要：We study the interdependencies between transaction costs, portfolio characteristics, and mutual fund performance. Using a novel data set of actual mutual fund trades, we find that, controlling for investment style, larger funds realize lower percentage transaction costs than smaller funds. Larger mutual funds trade less frequently and hold bigger stocks to actively avoid incurring higher trading costs. Gross returns of larger funds are lower than those of smaller funds due, in part, to the cha...
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作者：Beattie, Graham; Durante, Ruben; Knight, Brian; Sen, Ananya
作者单位：Barcelona School of Economics; ICREA; Pompeu Fabra University; Brown University; National Bureau of Economic Research; Carnegie Mellon University
摘要：Do mass media bias content in favor of advertisers? If so, what market conditions limit or exacerbate this bias? We examine the relationship between advertising by auto manufacturers in U.S. newspapers and news coverage of car safety recalls between 2000 and 2014. This context allows us to separate the influence of advertisers, who prefer less coverage, from that of readers, who prefer more information about the safety risks associated with the recalls. Consistent with theoretical predictions,...
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作者：Aksin, Zeynep; Deo, Sarang; Jonasson, Jonas Oddur; Ramdas, Kamalini
作者单位：Koc University; Indian School of Business (ISB); Massachusetts Institute of Technology (MIT); University of London; London Business School
摘要：In services where teams come together for short collaborations, managers are often advised to strive for high team familiarity so as to improve coordination and consequently, performance. However, inducing high team familiarity by keeping team membership intact can limit workers' opportunities to acquire useful knowledge and alternative practices from exposure to a broader set of partners. We introduce an empirical measure for prior partner exposure and estimate its impact (along with that of ...
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作者：Chiles, Bennett
作者单位：Columbia University
摘要：Firms in many industries engage in price obfuscation-tactics that intentionally make prices more difficult for consumers to discern. Although existing research has focused on the short-term financial gains that motivate firms to obfuscate, reputational concerns may at least partially counteract these incentives if consumers punish deceptive firms via loss of loyalty in future transactions and/or publicly observable negative feedback. This paper addresses the latter possibility, exploring the i...
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作者：Buell, Ryan W.; Kalkanci, Basak
作者单位：Harvard University; University System of Georgia; Georgia Institute of Technology
摘要：Amid growing calls for transparency and social and environmental responsibility, companies are employing different strategies to improve consumer perceptions of their brands. Some pursue internal initiatives that reduce their negative social or environmental impacts through responsible operations practices (such as paying a living wage to workers or engaging in environmentally sustainable manufacturing). Others pursue external responsibility initiatives (such as philanthropy or cause-related m...
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作者：Burbano, Vanessa C.
作者单位：Columbia University
摘要：Despite a recent surge in corporate activism, with firm leaders communicating about social-political issues unrelated to their core businesses, we know little about its strategic implications. This paper examines the effect of an employer communicating a stance about a social-political issue on employee motivation, using a two-phase, preregistered field experiment in an online labor market platform. Results demonstrate an asymmetric treatment effect of taking a stance depending on whether the ...
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作者：Dutta, Sunil; Reichelstein, Stefan
作者单位：University of California System; University of California Berkeley; University of Mannheim; Stanford University
摘要：This paper examines the theoretical properties of full-cost transfer prices in multidivisional firms. In our model, divisional managers are responsible for the initial acquisition of productive capacity and the utilization of that capacity in subsequent periods, once operational uncertainty has been resolved. We examine alternative variants of full-cost transfer pricing with the property that the discounted sum of transfer payments is equal to the initial capacity acquisition cost and the pres...
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作者：Gu, Grace; Zhu, Feng
作者单位：Boston College; Harvard University
摘要：As a platform improves trust between the two sides of its market to facilitate matching and transactions, it faces an increased risk of disintermediation: with sufficient trust, the two sides may circumvent the platform to avoid the platform's fees. In this paper, we investigate the relationship between increased trust and disintermediation by leveraging a randomized control trial in an online freelance marketplace. We find that enhanced trust increases the likelihood of high-quality freelance...
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作者：Li, Hui; Shen, Qiaowei; Bart, Yakov
作者单位：Carnegie Mellon University; Peking University; Northeastern University
摘要：Platform businesses are typically resource-intensive and must scale up their business quickly in the early stage to compete successfully against fast-emerging rivals. We study a critical question faced by such firms in the novel context of multicategory two-sided platforms: how to optimally make investment decisions across two sides, multiple categories, and different time periods to achieve fast and sustainable growth. We first develop a two-category two-period theoretical model and propose o...
