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作者：Hu, Qing; Levine, Ross; Lin, Chen; Tai, Mingzhu
作者单位：Renmin University of China; Stanford University; University of Hong Kong
摘要：Research offers conflicting predictions about the impact of credit conditions on mental health. We first assess how bank regulatory reforms that improved credit conditions, for example, by enhancing the efficiency of credit allocation and lowering lending rates, impacted mental health. We discover that among low-income individuals, these regulatory reforms reduced mental depression, boosted labor market outcomes, eased access to mortgage debt, and reduced the ranks of the unbanked. We also fin...
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作者：Udwani, Rajan
作者单位：University of California System; University of California Berkeley
摘要：In the classic Adwords problem introduced by [Mehta A, Saberi A, Vazirani U, Vazirani V (2007) Adwords and generalized online matching. J. ACM 54(5):22-es.], we have a bipartite graph between advertisers and queries. Each advertiser has a maximum budget that is known a priori. Queries are unknown a priori and arrive sequentially. When a query arrives, advertisers make bids, and we (immediately and irrevocably) decide which (if any) Ad to display based on the bids and advertiser budgets. The wi...
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作者：Cutura, Jannic; Parise, Gianpaolo; Schrimpf, Andreas
作者单位：European Central Bank; Universite Catholique de Lille; EDHEC Business School; Bank for International Settlements (BIS)
摘要：We examine how corporate bond fund managers manipulate portfolio risk in response to incentives. We find that liquidity risk concerns drive the allocation decisions of underperforming funds, whereas tournament incentives are of secondary importance. This leads laggard fund managers to trade off yield for liquidity while holding the exposure to other sources of risk constant. The documented derisking is stronger for managers with shorter tenure and is reinforced by a more concave flow to perfor...
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作者：Hsu, David H.; Hsu, Po-Hsuan; Zhou, Kaiguo; Zhou, Tong
作者单位：University of Pennsylvania; National Tsing Hua University; Capital University of Economics & Business; ShanghaiTech University; Southern University of Science & Technology
摘要：We construct a comprehensive data set of medium-and large-sized industrial firms and research universities in China and examine how Chinese firms' commercialization of their technologies is related to their experience in industry-university collaboration (IUC). We propose that firms' IUC experience constitutes an inimitable complementary asset that facilitates their technology commercialization. Our empirical analyses show that firms generate more new product sales and produce more product-ori...
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作者：Ghitti, Marco; Lopez-de-Silanes, Florencio; Matta, Rafael
作者单位：University of Padua; Universite Cote d'Azur; SKEMA Business School; National Bureau of Economic Research
摘要：We study how relationship lending affects the transmission of bankruptcy reforms on credit terms and bank enforcement mechanisms, using a unique database containing the universe of credits of a large Italian bank. Lower creditor rights lead the bank to reduce expected recovery rates, worsen credit terms, and tighten bank enforcement actions. Bank-borrower power dampens the terms' impact at the cost of tougher borrower renegotiations. Older and more credit-dependent borrowers receive less unfav...
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作者：Shi, Yuan; de Zegher, Joann F.; Lo, Irene Y.
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：Information platforms have emerged in the developing world to improve price transparency and welfare for smallholder suppliers. Meanwhile, sustaining welfare improvement often requires such platforms to benefit both suppliers and buyers. This paper studies the impact of price transparency on market price and welfare in smallholder supply chains, and identifies conditions and driving forces for creating benefits to both suppliers and buyers. Motivated by granular data from smallholder supply ch...
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作者：Li, Ivan; Derdenger, Tim
作者单位：University of Texas System; University of Texas Dallas; Carnegie Mellon University
摘要：We investigate the impact of personalized pricing through Name, Image, and Likeness (NIL) rights within college athletics on the recruitment of high school football players by college programs. We focus on whether the new policy disrupts competitive balance by increasing the concentration of talent among top-ranked institutions. Using a data set that encompasses pre- and post-NIL recruitment patterns to examine the distribution of 3, 4, and 5* recruits at college football programs, we find a n...
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作者：Wu, Zhiyan; Cao, Wenjiao
作者单位：Zhejiang University; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：Using a regression discontinuity design in a sample of U.S. federal special elections, we investigate how donor firms' political wins impact the adaptive responses of their product-market peers in their political activities, with a particular focus on the appointment of politicians to their boardrooms. By analyzing closely contested special elections, we find that when donor firms had donated to a candidate who narrowly won a special election, their peer firms were 41% more likely to appoint p...
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作者：Georghiou, Angelos; Tsoukalas, Angelos; Wiesemann, Wolfram
作者单位：University of Cyprus; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Imperial College London
摘要：We propose conditions under which two-stage distributionally robust optimization problems are optimally solved in affine or K-adaptable affine decision rules. Contrary to previous work, our conditions do not impose any structure on the support of the uncertain parameters, and they ensure pointwise (as opposed to worst case) optimality of (K-adaptable) affine decision rules. The absence of support restrictions allows us to transfer nonlinearities from the problem description to the support via ...
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作者：Bockstedt, Jesse C.; Buckman, Joseph R.
作者单位：Emory University; University System of Georgia; Georgia State University
摘要：As artificial intelligence (AI) tools have become pervasive in business applications, so too have interactions between AI and humans in business processes and decisionmaking. A growing area of research has focused on human decision and task delegation to AI assistants. Simultaneously, extensive research on algorithm aversion-humans' resistance to algorithm-based decision tools-has demonstrated potential barriers and issues with AI applications in business. In this paper, we test a simple strat...
