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作者：Singh, Jasjit; Teng, Nina; Netessine, Serguei
作者单位：INSEAD Business School; University of Oxford; University of Pennsylvania
摘要：Firms commonly undertake philanthropic campaigns as a means of attracting and retaining customers. Such campaigns often take the form of charity-linked promotions, whereby a firm donates a specific amount to a charitable cause when a customer takes up the promotion through a related purchase. We carried out three field experiments to study such promotions in the context of an online taxi-booking platform. Customers were randomly assigned to different treatment groups, which received either a c...
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作者：Chen, Hailiang; Hu, Yu Jeffrey; Smith, Michael D.
作者单位：City University of Hong Kong; University System of Georgia; Georgia Institute of Technology; Carnegie Mellon University
摘要：Digital distribution introduces many new strategic questions for the creative industries-notably, how the use of new digital channels will impact sales in established channels. We analyze this question in the context of e-book and hardcover sales by exploiting a natural experiment that exogenously delayed the release of a publisher's new Kindle e-books in April and May 2010. Using new books released simultaneously in e-book and print formats in March and June 2010 as the control group, we find...
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作者：Li, Xu; Lin, Chen; Zhan, Xintong
作者单位：University of Hong Kong; Chinese University of Hong Kong
摘要：Using brokerage mergers and closures as natural experiments, we examine how exogenous changes in the information environment affect a firm's financing choice. Our difference-in-differences approach shows that exogenous increases in information asymmetry lead firms to substitute away from equity and public debt toward bank debt. Firms with higher risk tend to substitute equity for bank debt, and firms with lower risk tend to substitute bonds for bank debt. The effect of the change in the inform...
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作者：Li, Kai; Qiu, Jiaping; Wang, Jin
作者单位：University of British Columbia; McMaster University; Wilfrid Laurier University
摘要：We examine the organizational choice and innovative activity of technology conglomerates firms that explore different technology fields with heated inventive activity. We develop a measure of firm-to-economy technological proximity to capture the extent of a firm's technology conglomeration. We show that technology conglomerates are more likely to form alliances and that these alliances lead to higher patent output. In terms of underlying mechanisms, we show that after alliance formation, ther...
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作者：Inderst, Roman; Khalmetski, Kiryl; Ockenfels, Axel
作者单位：Goethe University Frankfurt; University of Cologne
摘要：We study strategic communication between a customer and an advisor who is privately informed about the most suitable choice for the customer but whose preferences are misaligned with the customer's preferences. The advisor sends a message to the customer who, in turn, can secure herself from bad advice by acquiring costly information on her own. In our experiments, we find that making the customer's information acquisition less costly leads to less prosocial behavior of the advisor. This can b...
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作者：Hwang, Byoung-Hyoun; Liu, Baixiao; Xu, Wei
作者单位：Cornell University; Korea University; State University System of Florida; Florida State University; Peking University; Peking University Shenzhen Graduate School (PKU Shenzhen)
摘要：We propose that hedge funds more aggressively buy underpriced stocks when they are allowed to short. To test our proposition, we utilize the institutional feature in Hong Kong in virtue of which only stocks added to a special list can be shorted. Our first-stage analysis uses hedge fund holdings data and provides evidence that the emergency of shortable securities, indeed, causes hedge funds to more aggressively buy seemingly underpriced stocks. Our second-stage analysis presents evidence that...
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作者：Hagiu, Andrei; Wright, Julian
作者单位：Massachusetts Institute of Technology (MIT); National University of Singapore
摘要：How does a firm decide whether to employ professionals and control how they deliver services to clients, or to operate as a platform enabling independent professionals to provide services directly to clients? Similarly, how does a manufacturer decide whether to allow sales agents to choose certain costly actions (e.g., kickbacks to clients) or to take control of these actions itself? We answer this question using a principal-agent framework in which both the principal and the agent must be inc...
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作者：Jacguemet, Nicolas; Luchini, Stephane; Rosaz, Julie; Shogren, Jason F.
作者单位：Paris School of Economics; Aix-Marseille Universite; Centre National de la Recherche Scientifique (CNRS); Universite de Montpellier; INRAE; Institut Agro; Montpellier SupAgro; Centre National de la Recherche Scientifique (CNRS); University of Wyoming
摘要：Oath taking for senior executives has been promoted as a means to enhance honesty within and toward organizations. Herein we explore whether people who voluntarily sign a solemn truth-telling oath are more committed to sincere behavior when offered the chance to lie. We design an experiment to test how the oath affects truth telling in two contexts: a neutral context replicating the typical experiment in the literature, and a loaded context in which we remind subjects that a lie is a lie. We c...
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作者：Cohen, Lauren; Gurun, Umit G.; Kominers, Scott Duke
作者单位：Harvard University; National Bureau of Economic Research; University of Texas System; University of Texas Dallas; Harvard University; Harvard University
摘要：We provide the first large-sample evidence on the behavior and impact of nonpracticing entities (NPEs) in the intellectual property space. We find that, on average, NPEs appear to behave as opportunistic patent trolls. NPEs sue cash-rich firms and target cash in business segments unrelated to alleged infringement at essentially the same frequency as they target cash in segments related to alleged infringement. By contrast, cash is neither a key driver of intellectual property lawsuits by pract...
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作者：Turmunkh, Uyanga; van den Assem, Martijn J.; van Dolder, Dennie
作者单位：IESEG School of Management; Vrije Universiteit Amsterdam; University of Nottingham
摘要：We investigate the credibility of nonbinding preplay statements about cooperative behavior, using data from a high-stakes TV game show in which contestants play a variant on the classic Prisoner's Dilemma. We depart from the conventional binary approach of classifying statements as promises or not, and propose a more fine-grained two-by-two typology inspired by the idea that lying aversion leads defectors to prefer statements that are malleable to ex-post interpretation as truths. Our empirica...
