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作者：Montmarquette, C; Rullière, JL; Villeval, MC; Zeiliger, R
作者单位：Universite de Montreal; Universite de Montreal; Centre National de la Recherche Scientifique (CNRS); Ecole Normale Superieure de Lyon (ENS de LYON); Universite Claude Bernard Lyon 1; Universite Jean Monnet; Universite Lyon 2; IZA Institute Labor Economics
摘要：After a merger, company officials face the challenge of making compensation schemes uniform and of redesigning teams with managers from companies with different incentives, work habits, and recruiting methods. In this paper, we investigate the relationship between executive pay and performance after a merger by dissociating the respective influence of shifts, which occur in both compensation incentives and team composition. The results of a real task experiment conducted with managers within a...
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作者：Afèche, P; Mendelson, H
作者单位：Northwestern University; Stanford University
摘要：This paper studies alternative price-service mechanisms for a provider that serves customers whose delay cost depends on their service valuations. We propose a generalized delay cost structure that augments the standard additive model with a multiplicative component, capturing the interdependence between delay cost and values. We derive and compare the revenue-maximizing and socially optimal equilibria under uniform pricing, preemptive, and nonpreemptive priority auctions with an admission pri...
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作者：Corbett, CJ; Zhou, DM; Tang, CS
作者单位：University of California System; University of California Los Angeles
摘要：T his paper studies the value to a supplier of obtaining better information about a buyer's cost structure, and of being able to offer more general contracts. We use the bilateral monopoly setting to analyze six scenarios: three increasingly general contracts (wholesale-pricing schemes, two-part linear schemes, and two-part nonlinear schemes), each under full and incomplete information about the buyer's cost structure. We allow both sides to refuse to trade by explicitly including reservation ...
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作者：Bertschek, I; Kaiser, U
作者单位：Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW)
摘要：This paper analyzes the relationship between investment in information and communication technologies (ICT), non-ICT investment, labor productivity, and workplace reorganization. Firms are assumed to reorganize workplaces if the productivity gains arising from workplace reorganization exceed the associated reorganization costs. Two different types of organizational change are considered: enhancement group work and flattening of hierarchies. Empirical evidence is provided for a sample of 411 fi...
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作者：Broadie, M; Detemple, JB
作者单位：Columbia University; Boston University
摘要：This paper surveys the literature on option pricing from its origins to the present. An extensive review of valuation methods for European- and American-style claims is provided. Applications to complex securities and numerical methods are surveyed. Emphasis is placed on recent trends and developments in methodology and modeling.
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作者：Kanatas, G; Qi, JP
作者单位：Rice University; State University System of Florida; University of South Florida
摘要：A well-known view in the literature is that if management is more concerned with the firm's survival than with profitability, it is efficient to use a levered capital structure and thereby transfer the liquidation decision to lenders. Our paper extends this idea to a setting where lenders behave opportunistically when they control the liquidation decision. We show that in this situation, an optimal mix of debt and dividends, can mitigate the twin moral hazard problems of the manager and the le...
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作者：Zhu, K
作者单位：University of California System; University of California Irvine
摘要：he abundance of transaction data available on the Internet tends to make information more transparent in electronic marketplaces. In such a transparent environment, it becomes easier for suppliers to obtain information that may allow them to infer their rivals' costs. Is this good news or bad news? In this study, we focus on the informational effects of business-to-business (B2B) exchanges, and explore firms' incentives to join a B2B exchange that provides an online platform for information tr...
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作者：Williams, C; Mitchell, W
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Duke University
摘要：Organization structure acts as a lens on the environment, gathering information and shaping its flow through a firm to inform managers' choices. This shaping of information flow happens through an organization's operating units, which selectively process information from the environment, and through the links between them, which pass information between units. We explore the relationship between this information infrastructure and firm strategy using structure and service information from the ...
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作者：Kuosmanen, T
作者单位：Wageningen University & Research
摘要：This paper develops the first operational tests of portfolio efficiency based on the general stochastic dominance (SD) criteria that account for an infinite set of diversification strategies. The main insight is to preserve the cross-sectional dependence of asset returns when forming portfolios by reexpressing the SD criteria in T-dimensional Euclidean space, with elements representing rates of return in T different states of nature. We characterize subsets of this state-space that dominate a ...
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作者：Whitt, W
作者单位：Columbia University
摘要：To provide useful practical insight into the performance of service-oriented (non-revenue-generating) call centers, which often provide low-to-moderate quality of service, this paper investigates the efficiency-driven (ED), many-server heavy-traffic limiting regime for queues with abandonments. Attention is focused on the M/M/s/r + M model, having a Poisson arrival process, exponential service times, s servers, r extra waiting spaces, exponential abandon times (the final +M), and the first-com...
