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作者：Fischer, Paul E.; Louis, Henock
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We analyze the effect of external financing concerns on managers' financial reporting behavior prior to management buyouts (MBOs). Prior studies hypothesize that managers intending to undertake an MBO have an incentive to manage earnings downward to reduce the purchase price. We hypothesize that managers also face a conflicting reporting incentive associated with their efforts to obtain external financing for the MBO and to lower their financing cost. Consistent with our hypothesis, we find th...
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作者：Belloni, Alexandre; Freund, Robert; Selove, Matthew; Simester, Duncan
作者单位：Duke University; Massachusetts Institute of Technology (MIT)
摘要：We take advantage of recent advances in optimization methods and computer hardware to identify globally optimal solutions of product line design problems that are too large for complete enumeration. We then use this guarantee of global optimality to benchmark the performance of more practical heuristic methods. We use two sources of data: (1) a conjoint study previously conducted for a real product line design problem, and (2) simulated problems of various sizes. For both data sources, several...
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作者：Barnett, William P.; Pontikes, Elizabeth G.
作者单位：Stanford University; University of Chicago
摘要：Why do successful organizations often move in new directions and then fail? We propose that this pattern is especially likely among organizations that have survived a history of competition. Such experience adapts organizations to their environment, through so-called Red Queen evolution, but being well adapted for one context makes moving into new contexts more hazardous. Meanwhile, managers in such organizations infer from their histories of competitive success a biased assessment of their or...
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作者：Gruber, Marc; MacMillan, Ian C.; Thompson, James D.
作者单位：Swiss Federal Institutes of Technology Domain; Ecole Polytechnique Federale de Lausanne; University of Pennsylvania
摘要：Entrepreneurs play a fundamental role in bringing new technologies to market. Because technologies are often configurable to serve a variety of different markets, it is possible for entrepreneurs to identify multiple market opportunities prior to the first market entry of their emerging firms, and if they elect to do so, to therefore have a choice of which market to enter first. The empirical results presented in this paper offer three new insights regarding this important early-stage choice i...
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作者：Terwiesch, Christian; Xu, Yi
作者单位：University of Pennsylvania; University System of Maryland; University of Maryland College Park
摘要：In an innovation contest, a firm (the seeker) facing an innovation-related problem (e. g., a technical R&D problem) posts this problem to a population of independent agents (the solvers) and then provides an award to the agent that generated the best solution. In this paper, we analyze the interaction between a seeker and a set of solvers. Prior research in economics suggests that having many solvers work on an innovation problem will lead to a lower equilibrium effort for each solver, which i...
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作者：Dechenaux, Emmanuel; Goldfarb, Brent; Shane, Scott; Thursby, Marie
作者单位：University System of Ohio; Kent State University; Kent State University Salem; Kent State University Kent; University System of Maryland; University of Maryland College Park; University System of Ohio; Case Western Reserve University; University System of Georgia; Georgia Institute of Technology; National Bureau of Economic Research
摘要：The effects of appropriability on invention have been well studied, but there has been little analysis of the effect of appropriability on the commercialization of existing inventions. Exploiting a database of 805 attempts by private firms to commercialize inventions licensed from the Massachusetts Institute of Technology (MIT) between 1980 and 1996, we explore the influence of several appropriability mechanisms on the commercialization and termination of projects to develop products based on ...
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作者：Granot, Daniel; Yin, Shuya
作者单位：University of British Columbia; University of California System; University of California Irvine
摘要：In this paper, we study a decentralized assembly system consisting of a single assembler who buys complementary components from independent suppliers under two contracting schemes: push and pull. In both schemes, the component suppliers are allowed to freely form coalitions (or alliances) among themselves to better coordinate their pricing or production decisions. We show that the sole driver of the inefficiency in a push system, which is due to horizontal decentralization of suppliers, is the...
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作者：Kan, Raymond; Smith, Daniel R.
作者单位：University of Toronto; Simon Fraser University
摘要：In this paper, we present a finite sample analysis of the sample minimum-variance frontier under the assumption that the returns are independent and multivariate normally distributed. We show that the sample minimum-variance frontier is a highly biased estimator of the population frontier, and we propose an improved estimator of the population frontier. In addition, we provide the exact distribution of the out-of-sample mean and variance of sample minimum-variance portfolios. This allows us to...
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作者：Janakiraman, Ramkumar; Dutta, Shantanu; Sismeiro, Catarina; Stern, Philip
作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School; University of Southern California; Imperial College London; University of Warwick
摘要：Motivated by the medical literature findings that physicians are inertial, we seek to understand (1) whether physicians exhibit structural persistence in drug choice (structural persistence occurs when the drug chosen for a patient depends structurally on the drug previously prescribed by the physician to other patients) and (2) whether persistence, if present, is a physician-specific characteristic or a physician state that can change over time. We further explore the role of promotional tool...
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作者：Cavusoglu, Hasan; Cavusoglu, Huseyin; Zhang, Jun
作者单位：University of British Columbia; University of Texas System; University of Texas Dallas
摘要：Patch management is a crucial component of information security management. An important problem within this context from a vendor's perspective is to determine how to release patches to fix vulnerabilities in its software. From a firm's perspective, the issue is how to update vulnerable systems with available patches. In this paper, we develop a game-theoretic model to study the strategic interaction between a vendor and a firm in balancing the costs and benefits of patch management. Our obje...
