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作者：Narayan, Vishal; Kadiyali, Vrinda
作者单位：National University of Singapore; Cornell University
摘要：Many marketing activities take place within teams; these team activities often involve repeated interactions among team members over several projects. We study whether and what types of repeated interactions improve current production success, and under what conditions. We use a unique data set of past experience, successes, and pairwise interactions between members of production teams of 1,123 movies and employ dynamic panel data estimation methods. Three unique insights emerge. Interactions ...
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作者：Oezer, Oezalp; Zheng, Yanchong
作者单位：University of Texas System; University of Texas Dallas; Massachusetts Institute of Technology (MIT)
摘要：We study a seller's optimal pricing and inventory strategies when behavioral (nonpecuniary) motives affect consumers' purchase decisions. In particular, the seller chooses between two pricing strategies, markdown or everyday low price, and determines the optimal prices and inventory level. Two salient behavioral motives that impact consumers' purchase decisions and the seller's optimal strategies are anticipated regret and misperception of product availability. Regret arises when a consumer in...
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作者：Antoniou, Constantinos; Doukas, John A.; Subrahmanyam, Avanidhar
作者单位：University of Warwick; Old Dominion University; University of Cambridge; Nanjing University; University of California System; University of California Los Angeles
摘要：The security market line accords with the capital asset pricing model by taking on an upward slope in pessimistic sentiment periods, but is downward sloping during optimistic periods. We hypothesize that this finding obtains because periods of optimism attract equity investment by unsophisticated, overconfident, traders in risky opportunities (high beta stocks), whereas such traders stay along the sidelines during pessimistic periods. Thus, high beta stocks become overpriced in optimistic peri...
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作者：Hwang, Minha; Thomadsen, Raphael
作者单位：McGill University; Washington University (WUSTL)
摘要：Purchase shares of major national brands in consumer packaged-goods industries vary substantially across stores, both between geographic markets and across stores within markets. We measure the relationship between the variation in national-brand purchase shares and five store-specific marketing mix factors: prices, assortment shares, features, displays, and promotion intensity. We do this by first demonstrating the extent to which purchase shares of the top two national brands across six diff...
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作者：Calvo, Eduard; Martinez-de-Albeniz, Victor
作者单位：University of Navarra; IESE Business School
摘要：Multiple sourcing with quick response has been recognized as a useful tool to manage demand risk for short-life-cycle goods. However, general wisdom has traditionally ignored the effect of these practices on supplier incentives. In this paper we find that, when suppliers make pricing decisions, dual sourcing does not always lead to higher supply chain efficiency or buyer profits as compared to single sourcing. This loss takes place when suppliers commit to prices up front, before any possible ...
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作者：Da, Zhi; Yang, Wei; Yun, Hayong
作者单位：University of Notre Dame; Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Michigan State University; Michigan State University's Broad College of Business
摘要：We empirically examine the asset pricing implications of the Beckerian framework of household production, where utility is derived from both market consumption and home produced goods. We propose residential electricity usage as a real-time proxy for the service flow from household capital, because electricity is used in most modern-day household production activities and it cannot be easily stored. Using U.S. residential electricity usage from 1955 to 2012, our model based on household produc...
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作者：Nosenzo, Daniele; Offerman, Theo; Sefton, Martin; van der Veen, Ailko
作者单位：University of Nottingham; Vrije Universiteit Amsterdam; University of Amsterdam
摘要：We experimentally investigate a repeated inspection game where, in the stage game, an employee can either work or shirk and an employer simultaneously chooses to inspect or not inspect. The unique equilibrium of the stage game is in mixed strategies with positive probabilities of shirking/inspecting while combined payoffs are maximized when the employee works and the employer does not inspect. We examine the effects of allowing the employer discretion to sanction or reward the employee after o...
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作者：Dai, Min; Li, Peifan; Liu, Hong; Wang, Yajun
作者单位：National University of Singapore; National University of Singapore; Washington University (WUSTL); University System of Maryland; University of Maryland College Park
摘要：Most existing portfolio choice models ignore the prevalent periodic market closure and the fact that market volatility is significantly higher during trading periods. We find that market closure and the volatility difference across trading and nontrading periods significantly change optimal trading strategies. In addition, we demonstrate numerically that transaction costs can have a first-order effect on liquidity premia that is largely comparable to empirical findings. Moreover, this effect o...
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作者：Albring, Susan; Banyi, Monica; Dhaliwal, Dan; Pereira, Raynolde
作者单位：Syracuse University; University of Virginia; University of Arizona; Korea University; University of Missouri System; University of Missouri Columbia
摘要：Extant theory claims a firm's information environment impacts the choice between debt and equity financing. However, empirical evidence supporting this contention is limited. We evaluate this relation within the context of Regulation Fair Disclosure (Reg FD), which prohibited the use of selective disclosure. We find that firms with high proprietary costs of public disclosure are more likely to resort to debt financing following the passage of Reg FD. This relation is not sensitive to whether a...
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作者：Chang, Woo-Jin; Hayes, Rachel M.; Hillegeist, Stephen A.
作者单位：Hautes Etudes Commerciales (HEC) Paris; INSEAD Business School; Utah System of Higher Education; University of Utah; Arizona State University; Arizona State University-Tempe
摘要：We examine how ex ante financial distress risk affects CEO compensation. To disentangle the joint effects of performance on compensation and distress risk, we focus our analyses on new CEOs. Our results indicate that financial distress risk affects compensation through two channels. First, new CEOs receive significantly more compensation when financial distress risk is higher. This finding is consistent with CEOs receiving a compensation premium for bearing this risk since CEOs experience larg...
