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作者：Martinez-de-Albeniz, Victor; Talluri, Kalyan
作者单位：University of Navarra; IESE Business School; ICREA; Pompeu Fabra University
摘要：In this paper, we study price competition for an oligopoly in a dynamic setting, where each of the sellers has a fixed number of units available for sale over a fixed number of periods. Demand is stochastic, and depending on how it evolves, sellers may change their prices at any time. This reflects the fact that firms constantly, and almost costlessly, change their prices, reacting to updates in their estimates of market demand, competitor prices, or inventory levels. In a setting with demand ...
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作者：Bakshi, Nitin; Flynn, Stephen E.; Gans, Noah
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作者：Chava, Sudheer; Stefanescu, Catalina; Turnbull, Stuart
作者单位：University System of Georgia; Georgia Institute of Technology; European School of Management & Technology; University of Houston System; University of Houston
摘要：In this paper, we focus on modeling and predicting the loss distribution for credit risky assets such as bonds and loans. We model the probability of default and the recovery rate given default based on shared covariates. We develop a new class of default models that explicitly accounts for sector specific and regime dependent unobservable heterogeneity in firm characteristics. Based on the analysis of a large default and recovery data set over the horizon 1980-2008, we document that the speci...
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作者：Dahl, Michael S.
作者单位：Aalborg University
摘要：This article analyzes the relationship between organizational change and employee health. It illuminates the potentially negative outcomes of change at the level of the employee. In addition, it relates to the ongoing debate over how employees react to and respond to organizational change. I hypothesize that change increases the risk of negative stress, and I test this hypothesis using a comprehensive panel data set of all stress-related medicine prescriptions for 92,860 employees working in 1...
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作者：Anand, Krishnan S.; Pac, M. Fazil; Veeraraghavan, Senthil
作者单位：Utah System of Higher Education; University of Utah; University of Pennsylvania
摘要：In many services, the quality or value provided by the service increases with the time the service provider spends with the customer. However, longer service times also result in longer waits for customers. We term such services, in which the interaction between quality and speed is critical, as customer-intensive services. In a queueing framework, we parameterize the degree of customer intensity of the service. The service speed chosen by the service provider affects the quality of the servic...
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作者：Salo, Ahti; Punkka, Antti
作者单位：Aalto University
摘要：We develop comparative results for ratio-based efficiency analysis (REA) based on the decision-making units' (DMUs') relative efficiencies over sets of feasible weights that characterize preferences for input and output variables. Specifically, we determine (i) ranking intervals, which indicate the best and worst efficiency rankings that a DMU can attain relative to other DMUs; (ii) dominance relations, which show what other DMUs a given DMU dominates in pairwise efficiency comparisons; and (i...
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作者：Singh, Jasjit; Agrawal, Ajay
作者单位：INSEAD Business School; University of Toronto; National Bureau of Economic Research
摘要：When firms recruit inventors, they acquire not only the use of their skills but also enhanced access to their stock of ideas. But do hiring firms actually increase their use of new recruits' prior inventions? Our estimates suggest they do, quite significantly in fact, by approximately 219% on average. However, this does not necessarily reflect widespread learning by hiring. In fact, we estimate that a recruit's exploitation of her own prior ideas accounts for almost half of the above effect, w...
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作者：Chakravarty, Anindita; Grewal, Rajdeep
作者单位：University System of Georgia; University of Georgia; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：The budgets for research and development (R&D) and marketing should be determined by managers to attain product market advantages. However, in response to investor expectations for short-term stock returns, managers may modify these budgets myopically to avoid unexpected short-term earnings shortfalls, at the cost of long-term profitability. We propose that the past behavior of firm stock returns and volatility may create investor expectations of short-term financial performance, which drives ...
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作者：Goh, Khim-Yong; Hui, Kai-Lung; Png, Ivan P. L.
作者单位：National University of Singapore; Hong Kong University of Science & Technology; National University of Singapore
摘要：Despite annual expenditures on public relations exceeding $19.42 billion, U.S. businesses lack practical guidance about the effectiveness of publicity in mass media. Here, we assemble a rich and novel data set to gauge the impact of news reports on consumer sign-ups with the U.S. Do Not Call (DNC) Registry. Using multiple identification strategies, we found robust evidence that news reports increased consumer registrations. Specifically, a 1% increase in the number of news reports increased DN...
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作者：Glasserman, Paul; Wang, Zhenyu
作者单位：Columbia University; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：T he Capital Assistance Program (CAP) was created by the U. S. government in February 2009 to provide backup capital to large financial institutions unable to raise sufficient capital from private investors. Under the terms of the CAP, a participating bank receives contingent capital by issuing preferred shares to the Treasury combined with embedded options for both parties: The bank gets the option to redeem the shares or convert them to common equity, with conversion mandatory after seven ye...
