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作者：Yang, Nan; Lim, Yong Long
作者单位：National University of Singapore
摘要：We show that temporary incentives can lead to lasting changes in people's daily routines through a field experiment. In randomized controlled trials on Singapore's subways, commuters in the treatment group received a full rebate of their fares for 10 weeks if they exited fare gates before the start of morning peak-travel time. The objective of the fare promotion was to alleviate peak-time congestion by encouraging commuters to travel prepeak. This promotion resembles an actual public program i...
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作者：Jame, Russell
作者单位：University of Kentucky
摘要：I investigate whether hedge funds that supply liquidity earn superior returns. Using transaction data, I find that hedge funds following short-term contrarian strategies (i.e., liquidity suppliers) earn significantly higher returns on their equity trades and holdings. Similarly, using commercial databases, I find that hedge funds with greater exposure to a liquidity provision factor earn significantly higher excess returns and Sharpe ratios. The superior performance of liquidity-supplying hedg...
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作者：Younkin, Peter; Kuppuswamy, Venkat
作者单位：McGill University; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：The dearth of minority entrepreneurs has received increasing media attention but few academic analyses. In particular, the funding process creates challenges for either audit or correspondence methods, making it difficult to assess the role, or type, of discrimination influencing resource providers. We use a novel approach that combines analyses of 7,617 crowdfunding projects with an experimental design to identify whether African American men are discriminated against and whether this reflect...
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作者：Parker, Geoffrey; Van Alstyne, Marshall
作者单位：Dartmouth College; Boston University
摘要：Suppose that a firm in charge of a business ecosystem is a firm in charge of a microeconomy. To achieve the highest growth rate, how open should that economy be? To encourage third-party developers, how long should their intellectual property interests last? We develop a sequential innovation model that addresses the trade-offs inherent in these two decisions: (i) Closing the platform increases the sponsor's ability to charge for access, while opening the platform increases developer ability t...
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作者：Ertimur, Yonca; Ferri, Fabrizio; Oesch, David
作者单位：University of Colorado System; University of Colorado Boulder; Columbia University; University of Zurich
摘要：We examine the determinants and consequences of voting outcomes in uncontested director elections. Exploiting a unique hand-collected data set of the rationale behind proxy advisors' recommendations-the primary driver of voting outcomes-we document the director and board characteristics on which voting shareholders focus (as well as those that they neglect), their evolution over time, and their relative importance. Absent a negative recommendation, high votes withheld are infrequent, highlight...
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作者：Carlin, Bruce, I; Jiang, Li; Spiller, Stephen A.
作者单位：University of California System; University of California Los Angeles; Carnegie Mellon University
摘要：The growing use of online educational content and related video services has changed the way people access education, share knowledge, and possibly make life decisions. In this paper, we characterize how video content affects individual decision making and willingness to share in the context of a personal financial decision. We find that distracting advertising curtails the time people invest in searching for the best alternative and causes worse decisions. Content geared toward giving better ...
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作者：Jiang, Chao; Kubick, Thomas R.; Miletkov, Mihail K.; Wintoki, M. Babajide
作者单位：University of South Carolina System; University of South Carolina Columbia; University of Kansas; University System Of New Hampshire; University of New Hampshire
摘要：Theory and recent empirical literature suggest that social and professional connections may influence corporate policy. However, inference may be biased by the possibility that firms who share peers also share unobserved characteristics that are correlated with observed policy. Using a novel identification strategy, we predict and find that director connections through well-known island tax havens have a significant effect on corporate tax policy. Specifically, we find that U.S. firms with dir...
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作者：Nagaraj, Abhishek
作者单位：University of California System; University of California Berkeley
摘要：While digitization has greatly increased the reuse of knowledge, this study shows how these benefits might be mitigated by copyright restrictions. I use the digitization of in-copyright and out-of-copyright issues of Baseball Digest magazine by Google Books to measure the impact of copyright on knowledge reuse in Wikipedia. I exploit a feature of the 1909 Copyright Act whereby material published before 1964 has lapsed into the public domain, allowing for the causal estimation of the impact of ...
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作者：Goes, Paulo B.; Ilk, Noyan; Lin, Mingfeng; Zhao, J. Leon
作者单位：University of Arizona; State University System of Florida; Florida State University; University of Arizona; City University of Hong Kong
摘要：Online customer service chats provide new opportunities for firms to interact with their customers and have become increasingly popular in recent years for firms of all sizes. One reason for their popularity is the ability for customer service agents to multitask (i.e., interact with multiple customers at a time) thereby increasing the system through-put and agent productivity. Yet little is known about how multitasking impacts customer satisfaction-the ultimate goal of customer engagements. W...
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作者：Xu, Linli; Silva-Risso, Jorge M.; Wilbur, Kenneth C.
作者单位：University of Minnesota System; University of Minnesota Twin Cities; University of California System; University of California Riverside; University of California System; University of California San Diego
摘要：In light of recent calls for further validation of structural models, this paper evaluates the popular dynamic quality ladder (DQL) model using a nonrandom holdout approach. The model is used to predict data following a regime shift-that is, a change in the environment that produced the estimation data. The prediction performance is evaluated relative to a benchmark vector autoregression (VAR) model across three automotive categories and multiple prediction horizons. Whereas the VAR model perf...
