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作者：Green, Linda V.; Savin, Sergei; Savva, Nicos
作者单位：Columbia University; University of Pennsylvania; University of London; London Business School
摘要：The problem of determining nurse staffing levels in a hospital environment is a complex task because of variable patient census levels and uncertain service capacity caused by nurse absenteeism. In this paper, we combine an empirical investigation of the factors affecting nurse absenteeism rates with an analytical treatment of nurse staffing decisions using a novel variant of the newsvendor model. Using data from the emergency department of a large urban hospital, we find that absenteeism rate...
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作者：Li, Haitao; Li, Tao; Yu, Cindy
作者单位：University of Michigan System; University of Michigan; City University of Hong Kong; Iowa State University
摘要：We study the time-varying nature of U.S. monetary policies summarized by the Taylor rule based on a continuous-time regime-switching term structure model. In this model, the spot rate follows the Taylor rule and government bonds at different maturities are priced by no arbitrage. We allow the coefficients of the Taylor rule and the dynamics of inflation and output gap to be regime dependent and estimate the model using government bond yields. We find that the Fed is proactive in controlling in...
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作者：Duenyas, Izak; Hu, Bin; Beil, Damian R.
作者单位：University of Michigan System; University of Michigan; University of North Carolina; University of North Carolina Chapel Hill
摘要：This paper studies an optimal procurement mechanism for a newsvendor-like problem where the buyer's (newsvendor's) purchase price of the supplies is not fixed, but determined through interaction with candidate suppliers. The buyer has priors on the suppliers' costs but does not know their costs exactly. Recent literature has shown how the buyer can implement the optimal procurement mechanism by announcing a revenue function (specifying a payment for each quantity the buyer may purchase), then ...
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作者：Li, Tao
作者单位：City University of Hong Kong
摘要：Heterogeneity in beliefs and time preferences among investors make stock volatility stochastic, even though the volatility of the underlying dividend is constant. Prices of the European options written on this stock admit closed-form solutions, hence their hedging deltas. The Black-Scholes implied volatility surface, which depends on wealth distribution, investors' beliefs, and time preferences, exhibits observed patterns that are widely documented in various options markets. Along with benchm...
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作者：Csaszar, Felipe A.; Eggers, J. P.
作者单位：University of Michigan System; University of Michigan; New York University
摘要：We study four information aggregation structures commonly used by organizations to evaluate opportunities: individual decision making, delegation to experts, majority voting, and averaging of opinions. Using a formal mathematical model, we investigate how the performance of each of these structures is contingent upon the breadth of knowledge within the firm and changes in the environment. Our model builds on work in the Carnegie tradition and in the group and behavioral decision-making literat...
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作者：Jia, Nan; Shi, Jing; Wang, Yongxiang
作者单位：University of Southern California; Jiangxi University of Finance & Economics; Australian National University; University of Southern California
摘要：Using novel transaction-level data on Chinese business groups, this study provides the first direct evidence of the coinsurance theory of business groups by investigating when different types of internal resources are transferred within a business group. We find that in Chinese business groups, a credit crunch experienced by the controlling shareholding firm (the controller) of a publicly listed firm increases the loan-based related party transactions (RPTs) including loan guarantees and inter...
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作者：Dellarocas, Chrysanthos; Katona, Zsolt; Rand, William
作者单位：Boston University; University of California System; University of California Berkeley; University System of Maryland; University of Maryland College Park
摘要：A defining property of the World Wide Web is a content site's ability to place virtually costless hyperlinks to third-party content as a substitute or complement to its own content. Costless hyperlinking has enabled new types of players, usually referred to as content aggregators, to successfully enter content ecosystems, attracting traffic and revenue by hosting links to the content of others. This, in turn, has sparked a heated controversy between content creators and aggregators regarding t...
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作者：Gopal, Anandasivam; Goyal, Manu; Netessine, Serguei; Reindorp, Matthew
作者单位：University System of Maryland; University of Maryland College Park; Utah System of Higher Education; University of Utah; INSEAD Business School; Eindhoven University of Technology
摘要：Product launch-an event when a new product debuts for production in a plant-is an important phase in product development. But launches disrupt manufacturing operations, resulting in productivity losses. Using data from North American automotive plants from years 1999-2007, we estimate that a product launch entails an average productivity loss of 12%-15% at the plant level. This translates to a monetary loss of $42-$53 million per launch in lost productivity. We identify several ways to mitigat...
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作者：Obukhova, Elena; Lan, George
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Although it is intuitively plausible that a job seeker benefits by using contacts in her job search, the literature is plagued by theoretical disagreements and inconclusive empirical evidence. Single-firm studies consistently find that job seekers applying through referrals achieve better labor-market outcomes than job seekers applying without referrals, but the evidence from job-seeker studies is mixed. To solve this puzzle, we clarify the distinction between having social capital and using c...
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作者：Yang, Jian; Zhou, Yinggang
作者单位：Children's Hospital Colorado; University of Colorado System; University of Colorado Anschutz Medical Campus; University of Colorado Denver; Nankai University; Chinese University of Hong Kong
摘要：Using credit default swap data, we propose a novel empirical framework to identify the structure of credit risk networks across international major financial institutions around the recent global credit crisis. Specifically, we identify three groups of players, including prime senders, exchange centers, and prime receivers of credit risk information. Leverage ratios and, particularly, the short-term debt ratio appear to be significant determinants of the roles of financial institutions in cred...
