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作者：Van Vlasselaer, Veronique; Eliassi-Rad, Tina; Akoglu, Leman; Snoeck, Monique; Baesens, Bart
作者单位：KU Leuven; Northeastern University; State University of New York (SUNY) System; Stony Brook University; University of Southampton
摘要：We study the impact of network information for social security fraud detection. In a social security system, companies have to pay taxes to the government. This study aims to identify those companies that intentionally go bankrupt to avoid contributing their taxes. We link companies to each other through their shared resources, because some resources are the instigators of fraud. We introduce GOTCHA!, a new approach to define and extract features from a time-weighted network and to exploit and...
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作者：Greenwood, Brad N.; Agarwal, Ritu; Agarwal, Rajshree; Gopal, Anandasivam
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; University System of Maryland; University of Maryland College Park
摘要：Although the adoption of new technology has received significant attention in management research, investigations of abandonment have lagged. In this study, we examine differences in the rates of abandonment of medical technologies based on whether abandonment occurs in response to the emergence of a superior technology or in light of new information questioning its efficacy. We link differences in responses to underlying differences in the missions and incentives of organizations. Examining c...
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作者：McKenzie, David; Woodruff, Christopher
作者单位：The World Bank; University of Warwick
摘要：Management has a large effect on the productivity of medium and large firms. But does management matter in micro and small firms, where the majority of the labor force in developing countriesworks? We develop 26 questions that measure business practices in marketing, stock-keeping, record-keeping, and financial planning. These questions have been administered in surveys in Bangladesh, Chile, Ghana, Kenya, Mexico, Nigeria, and Sri Lanka. We show that variation in business practices explains as ...
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作者：Bouwens, Jan; Kroos, Peter
作者单位：University of Amsterdam
摘要：We examine whether financial targets are based on both forward-looking and financial information, rather than on financial information only. We collect sales and performance appraisal data of store managers in a retail chain. The firm issues directives focused on the provision of excellent customer service and assesses store managers' compliance with these directives subjectively. We demonstrate that, controlling for current sales, compliance with directives scores predicts future sales perfor...
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作者：Heron, Randall A.; Lie, Erik
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Indianapolis; University of Iowa
摘要：We report that the probability that executives exercise options early decreases with the volatility of the underlying stock return. We interpret this to mean that executives' subjective option value increases with volatility and that option grants increase executives' risk appetite. Further decomposition reveals that the results are most pronounced for idiosyncratic volatility, consistent with our conjecture that executives believe they can better predict or influence the resolution of idiosyn...
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作者：Loderer, Claudio; Stulz, Rene; Waelchli, Urs
作者单位：Swiss Finance Institute (SFI); University of Bern; European Corporate Governance Institute; University of Rochester; University System of Ohio; Ohio State University; National Bureau of Economic Research
摘要：As public firms exploit their growth opportunities following their initial public offering, their assets in place increase, and they organize themselves optimally to operate these assets efficiently, which requires a more formal and less flexible organization than to generate new growth opportunities. Our theory predicts that, as a result of these inflexibilities, firms fail to fully replace their growth opportunities, so that their Tobin's q falls with age and they invest less as they grow ol...
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作者：Barrot, Jean-Noel
作者单位：Massachusetts Institute of Technology (MIT); Center for Economic & Policy Research (CEPR)
摘要：This paper studies whether and how the contractual horizon of venture capital funds affects their investments in innovative firms. I find that funds with a longer remaining horizon select younger companies at an earlier stage of their development, which grow their patent stock significantly more than companies financed by funds with a shorter horizon. The sensitivity of investment decisions to horizon is stronger among experienced venture capital firms, who allocate investments across a larger...
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作者：He, Simin; Offerman, Theo; van de Ven, Jeroen
作者单位：Shanghai University of Finance & Economics; University of Amsterdam; Tinbergen Institute; University of Amsterdam
摘要：Face-to-face communication drastically increases cooperation rates in social dilemmas. We test which factors are the most important drivers of this communication gap. We distinguish three main categories. First, communication may decrease social distance. Second, communication may enable subjects to assess their opponent's cooperativeness (type detection) and condition their own action on that information. Third, communication allows subjects to make promises, which create commitment for subje...
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作者：Massacci, Daniele
作者单位：Bank of England
摘要：We propose a new time-varying peaks over threshold model to study tail risk dynamics in equity markets: the laws of motion for the parameters are defined through the score-based approach. We apply the model to daily returns from U.S. size-sorted decile stock portfolios and show that large firms' tail risk increases during recessions more than small firms' tail risk. Our results are consistent with the granular hypothesis of aggregate fluctuations, and we quantify the impact of large firms' tai...
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作者：Calzolari, Giacomo; Nardotto, Mattia
作者单位：University of Bologna; Centre for Economic Policy Research - UK; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung
摘要：We study the effects of reminders on people's behavior in investment activities characterized by up-front costs and delayed benefits, such as getting an education and maintaining a healthy lifestyle. We conduct a field experiment and show that simple weekly reminders induce users of a gym to substantially increase their gym attendance over an extensive period. Users' response to reminders is immediate (within hours) and recurrent for any subsequent reminder, which can be explained by limited a...
