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作者：Valenti, Albert; Miller, Chadwick J.; Tucker, Catherine E.
作者单位：University of Navarra; IESE Business School; Washington State University; Massachusetts Institute of Technology (MIT)
摘要：Retargeted advertising that tries to entice potential customers back to a website is widely used by advertisers and has often replaced more traditional forms of targeting, such as contextual targeting that tries to match ads to website content. However, existing research has not investigated the extent to which these different targeting techniques compete with or complement each other. To investigate this, we conduct a large-scale field experiment with an automobile manufacturer to investigate...
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作者：Nan, Lin; Tang, Chao; Ye, Minlei
作者单位：Purdue University System; Purdue University; Hong Kong University of Science & Technology; University of Toronto; University Toronto Mississauga
摘要：This paper investigates the impact of promoting whistleblowing on audit quality and the efficiency of detecting misstatements. On the one hand, whistleblowing alerts the enforcer to the possibility of a misstatement and intensifies the regulatory effort, thereby incentivizing the auditor to improve audit quality. On the other hand, promoting whistleblowing reduces the enforcer's investigative effort when there is no whistleblowing allegation, which in turn dampens the auditor's incentive to en...
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作者：Li, Xinyu; Schnedler, Wendelin
作者单位：University of Paderborn
摘要：Teams are formed because input from different people is needed. Providing incentives to team members, however, can be difficult. According to received wisdom, declaring all members responsible fails because real responsibility for team output diffuses. But why? Also, why and when does formally declaring one member responsible mean that this member can be attributed real responsibility? We offer a model that answers these questions. We identify when jointly declaring a team responsible results ...
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作者：Demirci, Ozge; Hannane, Jonas; Zhu, Xinrong
作者单位：Imperial College London; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Technical University of Berlin
摘要：This paper studies the impact of generative artificial intelligence (AI) technologies on the demand for online freelancers using a large data set from a leading global freelancing platform. We identify the types of jobs that are more affected by generative AI and quantify the magnitude of the heterogeneous impact. Our findings indicate a 21% decrease in the number of job posts for automation-prone jobs related to writing and coding compared with jobs requiring manual-intensive skills within ei...
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作者：Chen, Xinyun; Shi, Pengyi; Pu, Shanwen
作者单位：The Chinese University of Hong Kong, Shenzhen; Purdue University System; Purdue University; Shanghai University of Finance & Economics
摘要：Motivated by the emerging needs of tailored intervention for heterogeneous populations in preventative healthcare applications, we consider a multistage, dynamic decision-making problem in the online setting with unknown model parameters. To deal with the pervasive issue of small sample size in parameter estimation, we develop a novel data-pooling reinforcement learning (RL) algorithm that adaptively pools historical data, with three main innovations: (i) the weight of pooling is directly tied...
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作者：d'Avernas, Adrien; Han, Baiyang; Vandeweyer, Quentin
作者单位：Stockholm School of Economics; Stanford University; University of Chicago
摘要：This paper proposes a new model of monetary policy implementation to account for two key developments: (i) the introduction of intraday liquidity requirements and (ii) the decreasing relevance of the federal funds market in favor of repurchase agreement (repo) markets with nonbank participants. Our paper studies how liquidity requirements prevent banks from arbitraging between the fed funds and repo markets and generate large repo spikes. We propose a simple measure of excess intraday reserves...
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作者：Na, Ke; Shevlin, Terry; Wang, Danqing; Yan, Wenjia
作者单位：University of California System; University of California Irvine; Hong Kong University of Science & Technology; Nanjing University
摘要：This paper examines whether and how politicians' ideologies influence corporate taxation. Our tests exploit the implementation of the 1978 Reform and Opening-up policy in China that significantly weakens the communist ideology. Using textual analyses of city secretaries' speeches, we first establish that secretaries who joined the communist party after 1978 have a weaker communist ideology. We next show that, in the postreform period, firms in cities whose secretaries joined the communist part...
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作者：Kabir, Poorya; Ruan, Tianyue
作者单位：National University of Singapore
摘要：We examine a unique experiment of anonymizing online loan applications to test whether race-blind screening procedures reduce racial disparities in consumer credit. With names on applications, minority applicants are 10% less likely to receive online loan offers and receive worse offer terms than otherwise identical majority applicants. Anonymizing applications reduces such disparities substantially. High-income minority applicants benefit more than low-income minorities. We show that the raci...
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作者：Ahnert, Toni; Doerr, Sebastian; Pierri, Nicola; Timmer, Yannick
作者单位：European Central Bank; Centre for Economic Policy Research - UK; Bank for International Settlements (BIS); International Monetary Fund; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：We study the importance of information technology (IT) in banking for entrepreneurship. Guided by a parsimonious model, we establish that job creation by young firms is stronger in U.S. counties more exposed to banks with greater IT adoption. We present evidence consistent with banks' IT adoption spurring entrepreneurship through a collateral channel: entrepreneurship increases by more in IT-exposed counties when house prices rise. Further analysis suggests that IT improves banks' ability to d...
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作者：Akins, Brian; De Angelis, David; Zufarov, Rustam
作者单位：Rice University; University of Houston System; University of Houston; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：Does the structure of the borrower's equity ownership matter in debt contracting? This paper addresses this question by examining change in control clauses. These clauses are pervasive in loan contracts, yet their terms are not boilerplate. Examining 14,940 contracts, we document significant heterogeneity in the use and size of ownership caps, which limit large equity block formation. Overall, our evidence indicates that the way equity capital is distributed matters to lenders. Lenders set low...
