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作者：Chen, Pei-Yu; Hong, Yili; Liu, Ying
作者单位：Arizona State University; Arizona State University-Tempe
摘要：Online product ratings offer information on product quality. Scholars have recently proposed the potential of designing multidimensional rating systems to better convey information on multiple dimensions of products. This study investigates whether and how multidimensional rating systems affect consumer satisfaction (measured by product ratings), based on both observational data and two randomized experiments. Our identification strategy of the observational study hinges on a natural experimen...
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作者：Gao, Xiaodan
作者单位：National University of Singapore
摘要：I explore the role of the just-in-time (JIT) inventory system in the increase in cash holdings by U.S. manufacturing firms. I develop a model to illustrate the mechanism through which JIT affects cash and quantify its impact. In the model, both cash and inventory can serve as working capital. As firms switch from the traditional system to JIT, they shift resources from inventory to cash to facilitate transactions with suppliers. On average, this switchover accounts for a 4.1-percentage-point i...
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作者：Kwark, Young; Chen, Jianqing; Raghunathan, Srinivasan
作者单位：State University System of Florida; University of Florida; University of Texas System; University of Texas Dallas
摘要：Firms employ various techniques to obtain information about consumer taste/location and valuation prior to making product design decisions. User-generated content has become an important information source. The vast variety and volume of user-generated content makes firms better informed about consumers (precision-improving effect), and the common and public nature of user-generated content makes firms' information more correlated (correlation-increasing effect). We examine the impact of user-...
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作者：Miller, Amalia R.; Tucker, Catherine
作者单位：University of Virginia; IZA Institute Labor Economics; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：This paper explores how state genetic privacy laws affect the diffusion of personalized medicine, using data on genetic testing for cancer risks. State genetic privacy regimes employ and combine up to three alternative approaches to protecting patient privacy: Rules requiring that an individual is notified about potential privacy risks; rules restricting discriminatory usage of genetic data by employers or insurance companies; and rules limiting redisclosure without the consent of the individu...
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作者：Duffie, Darrell
作者单位：Stanford University
摘要：This is a survey of progress with the postcrisis global (G20) reform of the financial system, in five key areas of new regulation: (1) making financial institutions more resilient; (2) ending too-big-to-fail; (3) making derivatives markets safer; (4) transforming shadow banking; and (5) improving trade competition and market transparency. The resiliency reforms, particularly bank capital regulations, have been increasingly successful in improving financial stability, but have been accompanied ...
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作者：Baloria, Vishal P.; Klassen, Kenneth J.
作者单位：Boston College; University of Waterloo
摘要：Some corporations attempt to lessen their tax burden through involvement in the legislative process. We identify firms that contributed to congressional candidates who favor reductions in the U.S. corporate statutory tax rate. This support created a temporary incentive to manage effective tax rates (ETRs) up. We document that these firms increased their reported effective tax rate in the two calendar quarters preceding the 2012 election relative to adjacent periods and other firms supporting c...
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作者：Bouvard, Matthieu; Levy, Raphael
作者单位：McGill University; Hautes Etudes Commerciales (HEC) Paris
摘要：In a market where sellers solicit certification to overcome asymmetric information, we show that the profit of a monopolistic certifier can be hump-shaped in its reputation for accuracy: a higher accuracy attracts high-quality sellers but sometimes repels low-quality sellers. As a consequence, reputational concerns may induce the certifier to reduce information quality, thus depressing welfare. The entry of a second certifier impacts reputational incentives: when sellers only solicit one certi...
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作者：Aseri, Manmohan; Dawande, Milind; Janakiraman, Ganesh; Mookerjee, Vijay
作者单位：University of Texas System; University of Texas Dallas
摘要：Mobile-promotion platforms enable advertisers (individual users or businesses) to directly launch their personalized mobile advertising campaigns. These platforms contract with advertisers to provide a certain number of impressions on mobile apps in their desired sets of geographic locations (usually cities or zip codes) within their desired time durations (for example, a month); the execution of each such a contract is referred to as a campaign. To fulfill the demands of the campaigns, the pl...
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作者：Chava, Sudheer; Huang, Kershen; Johnson, Shane A.
作者单位：University System of Georgia; Georgia Institute of Technology; Bentley University; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：We study the dynamics of borrower reputation in bank loan markets following revelations of financial misreporting by the borrower. Misreporting firms pay greater loan spreads than matched firms for at least six years following revelation of the misreporting, and there is no evidence of a downward trend in the misreporting premium. Following revelation, misreporting firms are more likely to engage in various actions to potentially rebuild their reputations, but even firms that engage in multipl...
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作者：Chu, Jenny; Faasse, Jonathan; Rau, P. Raghavendra
作者单位：University of Cambridge
摘要：We investigate the impact of a firm's compensation consultant choice on executive compensation by examining shifts in consultant choice stemming from a 2009 U.S. Securities Exchange Commission requirement that firms disclose fees paid to compensation consultants for both consulting and other services. We show that the disclosure rule change acted as a separating device distinguishing firms likely to have used compensation consultants to extract rents from shareholders from firms that were like...
