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作者：Gambardella, Alfonso; Raasch, Christina; von Hippel, Eric
作者单位：Bocconi University; Bocconi University; Technical University of Munich; Massachusetts Institute of Technology (MIT)
摘要：Innovation has traditionally been seen as the province of producers. However, theoretical and empirical research now shows that individual users-consumers-are also a major and increasingly important source of new product and service designs. In this paper, we build a microeconomic model of a market that incorporates demand-side innovation and competition. We explain the conditions under which firms find it beneficial to invest in supporting and harvesting users' innovations, and we show that s...
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作者：Danis, Andras
作者单位：University System of Georgia; Georgia Institute of Technology
摘要：In this paper, I examine the effect of credit default swaps (CDSs) on the restructuring of distressed firms. Using a sample of U.S. distressed exchange offers during the period 2006-2011, I show that the participation rate among bondholders is significantly lower if the firm has CDSs traded on its debt. To address endogeneity concerns, I use the introduction of the Big Bang Protocol as a natural experiment. The results suggest that firms with CDSs find it difficult to reduce debt out of court....
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作者：Agrawal, Vishal V.; Bellos, Ioannis
作者单位：Georgetown University; George Mason University
摘要：It has been argued that servicizing business models, under which a firm sells the use of a product rather than the product itself, are environmentally beneficial. The main arguments are as follow. First, under servicizing the firm charges customers based on the product usage. Second, the quantity of products required to meet customer needs may be smaller because the firm may be able to pool customer needs. Third, the firm may have an incentive to offer products with higher efficiency. Motivate...
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作者：Kutzner, Florian L.; Read, Daniel; Stewart, Neil; Brown, Gordon
作者单位：Ruprecht Karls University Heidelberg; University of Warwick; University of Warwick
摘要：Many decision makers seek to optimize choices between uncertain options such as strategies, employees, or products. When performance targets must be met, attending to observed past performance is not enough to optimize choices-option uncertainty must also be considered. For example, for stretch targets that exceed observed performance, more uncertain options are often better bets. A significant determinant of option uncertainty is sample size: for a given option, the smaller the sample of info...
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作者：Xu, Kaiquan; Chan, Jason; Ghose, Anindya; Han, Sang Pil
作者单位：Nanjing University; Nanjing University; University of Minnesota System; University of Minnesota Twin Cities; New York University; Arizona State University; Arizona State University-Tempe
摘要：The introduction of tablets in online retailing has created an additional touch-point through which e-commerce firms can interact with consumers. In this paper, we seek to understand and measure the causal impact of tablets on e-commerce sales. In doing so, we examine the complementary and substitution impact of the tablet channel on the smartphone and PC channels. We rely on a unique data set from Alibaba, the largest e-commerce firm in the world, and exploit a natural experiment via the iPad...
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作者：Schmidt, William; Buell, Ryan W.
作者单位：Cornell University; Harvard University
摘要：Operational decisions under information asymmetry can signal a firm's prospects to less informed parties, such as investors, customers, competitors, and regulators. Consequently, managers in these settings often face a trade-off between making an optimal decision and sending a favorable signal. We provide experimental evidence on the choices made by decision makers in such settings. Equilibrium assumptions that are commonly applied to analyze these situations yield the least cost separating ou...
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作者：Eijgenraam, Carel; Brekelmans, Ruud; den Hertog, Dick; Roos, Kees
作者单位：CPB Netherlands Bureau for Economic Policy; Tilburg University; Delft University of Technology
摘要：Flood prevention policy is of major importance to the Netherlands since a large part of the country is below sea level and high water levels in rivers may also cause floods. In this paper we propose a dike height optimization model to determine economically efficient flood protection standards. We improve the model proposed by David van Dantzig [van Dantzig D (1956) Economic decision problems for flood prevention. Econometrica 24(3):276-287] after a devastating flood in the Netherlands in 1953...
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作者：Mamani, Hamed; Nassiri, Shima; Wagner, Michael R.
作者单位：University of Washington; University of Washington Seattle
摘要：We propose and analyze robust optimization models of an inventory management problem, where cumulative purchase, inventory, and shortage costs over n periods are minimized for correlated nonidentically distributed demand. We assume that the means and covariance matrix of stochastic demand are known; the distributions are not needed. We derive closed-form ordering quantities for both symmetric and asymmetric uncertainty sets, under capacitated inventory constraints, in both static and dynamic s...
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作者：Zhao, Xiaofei
作者单位：University of Texas System; University of Texas Dallas
摘要：This paper identifies an important source of variation in U.S. firms' material information flows: their Form 8-K filing frequency. Exploiting cross-sectional variation in this novel proxy for information intensity, this paper finds that firms with higher information intensity experience lower future returns and lower future volatilities. The marginal return impact is higher at low levels of information intensity and high levels of prior volatility. On average, an information-intensity-based lo...
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作者：Chhaochharia, Vidhi; Grinstein, Yaniv; Grullon, Gustavo; Michaely, Roni
作者单位：University of Miami; Reichman University; Cornell University; Rice University; Cornell University
摘要：We use the Sarbanes-Oxley Act of 2002 (SOX) as a quasi-natural experiment to examine the link between product market competition and internal governance mechanisms. Consistent with the notion that competition plays an important role in aligning incentives within the firm, SOX has led to a larger improvement in the operation of firms in concentrated industries than in nonconcentrated industries. Furthermore, within concentrated industries, the effect is especially pronounced among firms with we...
