2017

最新文章

• Understanding Bank-Run Contagion AI翻译
  作者：Brown, Martin; Trautmann, Stefan T.; Vlahu, Razvan
  作者单位：University of St Gallen; Ruprecht Karls University Heidelberg; Tilburg University
  摘要：We study experimental coordination games to examine through which transmission channels and under which information conditions a panic-based depositor run at one bank may trigger a panic-based depositor run at another bank. We find that withdrawals at one bank trigger withdrawals at another bank by increasing players' beliefs that other depositors in their own bank will withdraw, making them more likely to withdraw as well. Observed withdrawals only affect depositors' beliefs, and are thus con...
• Jumps in Equity Index Returns Before and During the Recent Financial Crisis: A Bayesian Analysis (vol 63, pg 988, 2017) AI翻译
  作者：Kou, Steven; Yu, Cindy; Zhong, Haowen
• A Dynamic Network Measure of Technological Change AI翻译
  作者：Funk, Russell J.; Owen-Smith, Jason
  作者单位：University of Minnesota System; University of Minnesota Twin Cities; University of Michigan System; University of Michigan
  摘要：This article outlines a network approach to the study of technological change. We propose that new inventions reshape networks of interlinked technologies by shifting inventors' attention to or away from the knowledge on which those inventions build. Using this approach, we develop novel indexes of the extent to which a new invention consolidates or destabilizes existing technology streams. We apply these indexes in analyses of university research commercialization and find that, although fede...
• How Much Is a Win Worth? An Application to Intercollegiate Athletics AI翻译
  作者：Chung, Doug J.
  作者单位：Harvard University
  摘要：Intercollegiate athletics in the United States have become a multibillion-dollar industry over the past several decades. In this study, we investigate the short-and longterm direct monetary effects of operating a winning athletics program for an academic institution of higher education. We construct a unique panel data set from multiple sources and utilize the latest dynamic panel data estimation methods to account for heterogeneity while also addressing endogeneity concerns. We find that succ...
• Early Task Initiation and Other Load-Adaptive Mechanisms in the Emergency Department AI翻译
  作者：Batt, Robert J.; Terwiesch, Christian
  作者单位：University of Wisconsin System; University of Wisconsin Madison; University of Pennsylvania; University of Pennsylvania
  摘要：We study a multistage service process that adapts to system occupancy level. Using operational data from more than 140,000 patient visits to a hospital emergency department, we show that the system-level performance of the emergency department is an aggregation of several simultaneous server-level workload response mechanisms. We identify early task initiation as a between-stage adaptive response mechanism that occurs when an upstream stage initiates tasks that are normally handled by a downst...
• Does the Unemployment Benefit Institution Affect the Productivity of Workers? Evidence from the Field AI翻译
  作者：Blancom, Mariana; Dalton, Patricio S.; Vargas, Juan F.
  作者单位：Universidad del Rosario; Tilburg University; Tilburg University
  摘要：This paper studies the effects of unemployment benefit schemes on individual productivity. We created employment and unemployment in the field and compared workers' productivity under no unemployment benefits to productivity under two different unemployment schemes. In one scheme, the unemployed received an unconditional monetary transfer. In the other, the monetary transfer was obtained conditional on the unemployed spending some time on an ancillary activity. Our results challenge the standa...
• Editorial Statement-Business Strategy AI翻译
  作者：Gans, Joshua
  作者单位：University of Toronto
• Gatekeepers at Work: An Empirical Analysis of a Maternity Unit AI翻译
  作者：Freeman, Michael; Savva, Nicos; Scholtes, Stefan
  作者单位：University of Cambridge; University of London; London Business School
  摘要：We use a detailed operational and clinical data set from a maternity hospital to investigate how workload affects decisions in gatekeeper-provider systems, where the servers act as gatekeepers to specialists but may also attempt to serve customers themselves, albeit with a probability of success that is decreasing in the complexity of the customers' needs. We study the effect of workload during a service episode on gatekeepers' service configuration decisions and the rate at which gatekeepers ...
• Trading Time in a Congested Environment AI翻译
  作者：Yang, Luyi; Debo, Laurens; Gupta, Varun
  作者单位：University of Chicago; Dartmouth College
  摘要：The first in, first out (FIFO) queue discipline respects the order of arrivals, but is not efficient when customers have heterogeneous waiting costs. Priority queues, in which customers with higher waiting costs are served first, are more efficient but usually involve undesirable queue-jumping behaviors that violate bumped customers' property rights over their waiting spots. To have the best of both worlds, we propose time-trading mechanisms, in which customers who are privately informed about...
• Debt Covenants and Cross-Sectional Equity Returns AI翻译
  作者：Helwege, Jean; Huang, Jing-Zhi; Wang, Yuan
  作者单位：University of California System; University of California Riverside; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Concordia University - Canada
  摘要：This paper investigates the impact of debt covenant protection on the cross section of equity returns with a firm-level covenant index and four subindices. We find that firms withweaker covenant protection ( lower covenant index levels) earn significantly higher risk-adjusted equity returns than do those firms with greater covenant protection. These results are stronger for covenant indices that are related to investments, subsequent financing, and event risk. The difference between high and l...