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作者：Hedgcock, William M.; Rao, Raghunath Singh; Chen, Haipeng (Allan)
作者单位：University of Iowa; University of Texas System; University of Texas Austin; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：Sellers are often more interested in inducing buyers to make a choice-any choice-than in influencing which option they choose. For example, many retailers are more concerned about maximizing customer purchases within categories than influencing which brand is purchased in any particular category. Although this issue is important to researchers and practitioners, research on how contextual factors, such as decoys and prior decisions, affect whether consumers will choose to choose is scarce. We ...
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作者：Ammann, Manuel; Horsch, Philipp; Oesch, David
作者单位：University of St Gallen; University of Zurich
摘要：This paper investigates the effect of superstar chief executive officers (CEOs) on their competitors. Exploiting shocks to CEO status due to prestigious media awards, we document a significant positive stock market performance of competitors of superstar CEOs subsequent to the award. The effect is more pronounced for competitors who have not received an award themselves, who are geographically close to an award winner, and who are not entrenched. We observe an increase in risk taking, operatin...
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作者：Heinle, Mirko S.; Verrecchia, Robert E.
作者单位：University of Pennsylvania
摘要：This paper studies the propensity of firms to commit to disclose information that is subsequently biased, in the presence of other firms also issuing potentially biased information. An important aspect of such an analysis is the fact that firms can choose whether to disclose or withhold information. We show that allowing the number of disclosed reports to be endogenous introduces a countervailing force to some of the empirical predictions from the prior literature. For example, we find that as...
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作者：Koester, Allison; Lundholm, Russell; Soliman, Mark
作者单位：Georgetown University; University of British Columbia; University of Southern California
摘要：We investigate why extreme positive earnings surprises occur and the consequences of these events. We posit that managers know before analysts when extremely good earnings news is developing, but can have incentives to allow the earnings news to surprise the market at the earnings announcement. In particular, managers can use an extreme positive earnings surprise to attract investor attention when they believe their stock is neglected and future performance is expected to be strong. Analysts, ...
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作者：Cen, Ling; Dasgupta, Sudipto; Sen, Rik
作者单位：University of Toronto; University Toronto Scarborough; University of Toronto; Lancaster University; Hong Kong University of Science & Technology
摘要：A lthough a sizable literature suggests that firms benefit from vulnerability to takeovers because it reduces agency problems, the threat of takeovers can also impose ex ante costs on firms by adversely affecting relationships with important stakeholders, such as major customers. We find that when firms have corporate customers as important stakeholders, an exogenous reduction in the threat of takeovers increases their ability to attract new customers and strengthens their relationships with e...
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作者：Ghent, Andra; Valkanov, Rossen
作者单位：University of Wisconsin System; University of Wisconsin Madison; University of California System; University of California San Diego
摘要：We assemble a unique data set of commercial mortgages with information on loan characteristics at origination and subsequent performance. The most significant difference between securitized and balance sheet loans is the size of the loan. The loans in the highest loan size decile have a 43% chance of securitization, whereas the ones in the lowest decile have only a 1% chance. This result is consistent with diversification being a key motivation for securitization. We also find that loans that ...
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作者：Boudreau, Kevin J.; Guinan, Eva C.; Lakhani, Karim R.; Riedl, Christoph
作者单位：University of London; London Business School; Harvard University; Harvard University; Harvard University Medical Affiliates; Dana-Farber Cancer Institute; Northeastern University
摘要：Selecting among alternative projects is a core management task in all innovating organizations. In this paper, we focus on the evaluation of frontier scientific research projects. We argue that the intellectual distance between the knowledge embodied in research proposals and an evaluator's own expertise systematically relates to the evaluations given. To estimate relationships, we designed and executed a grant proposal process at a leading research university in which we randomized the assign...
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作者：Chatterji, Aaron K.; de Figueiredo, Rui J. P., Jr.; Rawley, Evan
作者单位：Duke University; University of California System; University of California Berkeley; Columbia University
摘要：We present a new mechanism by which prior employment can influence transitions to other firms. We propose that some employees divert effort toward unproductive activities to learn about their own fitness for alternative employment. Based on the results of this costly learning experience, or experiment, some employees will transition into other firms or launch their own ventures, whereas others will remain at the incumbent firm. We develop a theoretical model to explicate these propositions and...
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作者：Leider, Stephen; Lovejoy, William S.
作者单位：University of Michigan System; University of Michigan
摘要：We study experimentally bargaining in a multiple-tier supply chain with horizontal competition and sequential bargaining between tiers. Our treatments vary the cost differences between firms in tiers 1 and 2. We measure how these underlying costs influence the efficiency, negotiated prices, and profit distribution across the supply chain, as well as the consistency of these outcomes with existing theory. We find that the structural issue of cost differentials dominates personal characteristics...
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作者：Blom, Michelle L.; Pearce, Adrian R.; Stuckey, Peter J.
作者单位：University of Melbourne
摘要：We consider the multiple-time-period, short-term production scheduling problem for a network of multiple open-pit mines and ports. Ore produced at each mine, in each period, is transported by rail to a set of ports and blended into products for shipping. Each port forms these blends to a specification, as stipulated in contracts with downstream customers. This problem belongs to a class of multiple producer/consumer scheduling problems in which producers are able to generate a range of product...
