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作者：Lu, Shijie; Wang, Xin (Shane); Bendle, Neil
作者单位：University of Houston System; University of Houston; Western University (University of Western Ontario)
摘要：Anecdotal evidence suggests that counterfeiting /piracy can help create online word of mouth (WOM) and through this boost demand, but how powerful is such WOM? To answer this question, we conduct a descriptive study with some attempts to establish near causality. We estimate the impact of piracy on WOM and ultimately revenue by applying a panel data method to all movies widely released in the United States from 2015 to 2017. In identifying the effects of piracy we make inventive use of Russian...
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作者：Herweg, Fabian; Schmidt, Klaus M.
作者单位：University of Bayreuth; University of Munich
摘要：A buyer who wants to procure a complex good is often aware that there may be flaws in her initial design, but she does not know what they look like. Potential sellers who discover flaws have no incentive to reveal them early if the buyer uses a price-only auction. We derive an efficient mechanism that induces all sellers to report flaws early and that allocates the project to the seller with the lowest cost. We show that this can be implemented with a simple two-stage auction that does not req...
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作者：Bruno, Valentina; Shin, Hyun Song
作者单位：American University; Bank for International Settlements (BIS)
摘要：How do emerging market corporates fare during periods of currency depreciation? We find that nonfinancial firms that exploit favorable global financing conditions to issue U.S. dollar bonds and build cash balances are also those whose share price is most vulnerable to local currency depreciation. In particular, firms' vulnerability to currency depreciation derives less from the foreign currency debt as such, and more from the cash balances that are built up by using foreign currency debt. Over...
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作者：Wu, Lynn; Hitt, Lorin; Lou, Bowen
作者单位：University of Pennsylvania
摘要：We examine the relationship between data analytics capabilities and innovation using detailed firm-level data. To measure innovation, we first utilize a survey to capture two types of firm practices, process improvement and new technology development for 331 firms. We then use patent data to further analyze new technology development for a broader sample of more than 2,000 publicly traded firms. We find that data analytics capabilities are more likely to be present and are more valuable in fir...
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作者：Barron, Daniel; Gibbons, Robert; Gil, Ricard; Murphy, Kevin J.
作者单位：Northwestern University; Massachusetts Institute of Technology (MIT); Queens University - Canada; University of Southern California
摘要：We study relationships between parties who have different preferences about how to tailor decisions to changing circumstances. Our model suggests that relational contracts supported by formal contracts may achieve relational adaptation that improves on adaptation decisions achieved by formal or relational contracts alone. Our empirics consider revenue-sharing contracts between movie distributors and an exhibitor. The exhibitor has discretion about whether and when to show a movie, and the part...
