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作者：Hendricks, Kevin B.; Hora, Manpreet; Singhal, Vinod R.
作者单位：Wilfrid Laurier University; University System of Georgia; Georgia Institute of Technology
摘要：This paper provides empirical evidence on the performance effects and choice of appointments of supply chain and operations management executives (SCOMEs). The analysis is based on a sample of 681 SCOME appointments that were publicly announced during the 2000-2011 period. We find that the stock market reaction is positive on the day of the announcement. Categorizing the SCOME appointments as new or old and insider or outsider, we find that the market reaction for newly created SCOME positions...
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作者：Janakiraman, Ganesh; Seshadri, Sridhar; Sheopuri, Anshul
作者单位：University of Texas System; University of Texas Dallas; Indian School of Business (ISB); International Business Machines (IBM); IBM USA
摘要：We study a model of a firm managing its inventory of a single product by sourcing supplies from two supply sources, a regular supplier who offers a lower unit cost and a longer lead time than a second, emergency, supplier. A practically implementable policy for such a firm is a tailored base-surge (TBS) policy [Allon G, Van Mieghem JA (2010) Global dual sourcing: Tailored base-surge allocation to near-and offshore production. Management Sci. 56(1):110-124] to manage its inventory. Under this p...
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作者：Post, Thierry; Fang, Yi; Kopa, Milos
作者单位：Koc University; Jilin University; Jilin University; Charles University Prague
摘要：We develop and implement linear formulations of convex stochastic dominance relations based on decreasing absolute risk aversion (DARA) for discrete and polyhedral choice sets. Our approach is based on a piecewise-exponential representation of utility and a local linear approximation to the exponentiation of log marginal utility. An empirical application to historical stock market data suggests that a passive stock market portfolio is DARA stochastic dominance inefficient relative to concentra...
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作者：Schram, Arthur; Charness, Gary
作者单位：University of Amsterdam; University of California System; University of California Santa Barbara
摘要：Social norms involve observation by others and external sanctions for violations, whereas moral norms involve introspection and internal sanctions. To study such norms and their effects, we design a laboratory experiment. We examine dictator choices, where we create a shared understanding by providing advice from peers with no financial payoff at stake. We vary whether advice is given, as well as whether choices are made public. This design allows us to explicitly separate the effects of moral...
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作者：Mao, Lei; Tserlukevich, Yuri
作者单位：University of Warwick; Arizona State University; Arizona State University-Tempe
摘要：In this paper we build a theoretical model of a firm repurchasing its corporate debt. We find that firm creditors as a group sell debt to the firm only at face value. However, because of the cross-creditor externalities, buying back debt is cheaper and easier when there are many creditors, e.g., when debt is traded on the open market. We further show that repurchases contribute to flexibility in firms' capital structure and can increase ex ante firm value. The value of repurchases to the share...
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作者：Firth, Michael; Wang, Kailong (Philip); Wong, Sonia M. L.
作者单位：Lingnan University; Michigan State University; Michigan State University's Broad College of Business
摘要：Using China's stock market as the testing venue, this study examines how corporate transparency helps explain the sensitivity of stock prices to general investor sentiment. We find that firms with low corporate transparency, measured by a battery of proxies including state ownership, the prevalence of related party transactions, accrual-based earnings management, audit opinions, and the quality of audit firms, are more affected by investor sentiment than are firms with high corporate transpare...
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作者：Liu, Angela (Xia); Mazumdar, Tridib; Li, Bo
作者单位：Tsinghua University; Syracuse University
摘要：We investigate the effects of a movie star on the movie's opening week theater allocations and box office revenue. Because the pairing of a star and a movie involves a bilateral matching process between the studio and the star, the star (hence the nonstar) movie samples are nonrandom and the star variable is potentially endogenous. To assess the star as well as movie characteristics effects, we utilize a switching model to account for endogenous assignment of stars and nonstars into respective...
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作者：Goetzendorff, Andor; Bichler, Martin; Shabalin, Pasha; Day, Robert W.
作者单位：Technical University of Munich; University of Connecticut
摘要：We introduce an auction design framework for large markets with hundreds of items and complex bidder preferences. Such markets typically lead to computationally hard allocation problems. Our new framework consists of compact bid languages for sealed-bid auctions and methods to compute second-price rules such as the Vickrey-Clarke-Groves or bidder-optimal, core-selecting payment rules when the optimality of the allocation problem cannot be guaranteed. To demonstrate the efficacy of the approach...
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作者：Mitchell, Matthew; Skrzypacz, Andrzej
作者单位：University of Toronto; Stanford University
摘要：We analyze a model of industry evolution where the number of active submarkets is endogenously determined by pioneering innovation from incumbents and entrants. Incumbent pioneers enjoy an advantage of additional pioneering innovation via a dynamic capability that takes the form of an improved technology for innovation in young submarkets. Entrants are motivated in part by a desire to acquire the dynamic capability. We show that dynamic capabilities increase total innovation, but whether the c...
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作者：Van-Anh Truong
作者单位：Columbia University
摘要：The dynamic assignment of patients to exam days in order to manage daily variations in demand and capacity is a long-standing open research area in appointment scheduling. In particular, the dynamic assignment of advance appointments has been considered to be especially challenging because of its high dimensionality. We consider a canonical model of dynamic advance scheduling with two patient classes: an urgent demand class, which must be served on the day of arrival, and a regular demand clas...
