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作者：Junkunc, Marc T.; Eckhardt, Jonathan T.
作者单位：University of Miami; University of Wisconsin System; University of Wisconsin Madison
摘要：This paper utilizes an understudied but often utilized aspect of initial public offerings (IPOs), secondary shares, to examine whether the knowledge conditions of firms give rise to agency problems that limit the ability of founders and venture capitalists to sell equity at IPO. In an analysis of 2,190 IPOs spanning from 1992 through 2002, we find that private owners are less likely to be observed selling their equity at IPO in ventures that are highly dependent on technical specialized knowle...
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作者：Chen, Joseph Y.; Miller, Bruce L.
作者单位：University of California System; University of California Los Angeles
摘要：This paper employs numerical simulations to compare the relative performance of linear contracts with piecewise-linear-threshold contracts in the case where the agent chooses actions over time. These contracts are restricted to be functions of the ending value of aggregate output. We find strong evidence that only linear contracts need be considered in comparison with piecewise-linear-threshold contracts in the situation where cumulative output is only updated periodically and the agent's util...
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作者：Wang, Xinfang (Jocelyn); Camm, Jeffrey D.; Curry, David J.
作者单位：University System of Georgia; Georgia Southern University; University System of Ohio; University of Cincinnati; University System of Ohio; University of Cincinnati
摘要：We develop a branch-and-price algorithm for constructing an optimal product line using partworth estimates from choice-based conjoint analysis. The algorithm determines the specific attribute levels for each multiattribute product in a set of products to maximize the resulting product line's share of choice, i.e., the number of respondents for whom at least one new product's utility exceeds the respondent's reservation utility. Computational results using large commercial and simulated data se...
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作者：Ghose, Anindya; Yang, Sha
作者单位：New York University; Southwest Jiaotong University
摘要：The phenomenon of sponsored search advertising-where advertisers pay a fee to Internet search engines to be displayed alongside organic (nonsponsored) Web search results-is gaining ground as the largest source of revenues for search engines. Using a unique six-month panel data set of several hundred keywords collected from a large nationwide retailer that advertises on Google, we empirically model the relationship between different sponsored search metrics such as click-through rates, conversi...
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作者：Ibrahim, Rouba; Whitt, Ward
作者单位：Columbia University
摘要：We use heavy-traffic limits and computer simulation to study the performance of alternative real-time delay estimators in the overloaded GI/GI/s+GI multiserver queueing model, allowing customer abandonment. These delay estimates may be used to make delay announcements in call centers and related service systems. We characterize performance by the expected mean squared error in steady state. We exploit established approximations for performance measures with a nonexponential abandonment-time di...
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作者：Looney, Clayton Arlen; Hardin, Andrew M.
作者单位：University of Montana System; University of Montana; Nevada System of Higher Education (NSHE); University of Nevada Las Vegas
摘要：As firms continue to abandon pensions in favor of employee-managed retirement plans, tremendous demands are being placed on the decision-making proficiency of future retirees. As reflected in the equity premium puzzle, individual investors tend to hold overly conservative portfolios that provide meager payoffs over time. Consequently, there is growing concern that the vast majority of retirement accounts might be insufficiently funded when employees reach retirement. Given that most retirement...
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作者：Balachander, Subramanian; Liu, Yan; Stock, Axel
作者单位：Purdue University System; Purdue University; State University System of Florida; University of Central Florida
摘要：Recent product introductions such as the Xbox 360, Sony Playstation 2, and PT Cruiser have been characterized by shortage of these products. Some experts have suggested that such scarcity can be a deliberate strategy for making the product more desirable. In this paper, we empirically examine the relationship between introductory inventory levels and consumer preference in the U. S. automobile industry and show that relative scarcity of a car at the time of introduction is associated with high...
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作者：Arora, Ashish; Gambardella, Alfonso; Magazzini, Laura; Pammolli, Fabio
作者单位：Duke University; National Bureau of Economic Research; Bocconi University; Bocconi University; University of Verona; IMT School for Advanced Studies Lucca
摘要：This paper compares the innovation performance of established pharmaceutical firms and biotech companies, controlling for differences in the scale and scope of research. We develop a structural model to analyze more than 3,000 drug research and development projects advanced to preclinical and clinical trials in the United States between 1980 and 1994. Key to our approach is careful attention to the issue of selection. Firms choose which compounds to advance into clinical trials. This choice de...
