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作者：Baek, Jackie; Farias, Vivek F.; Georgescu, Andreea; Levi, Retsef; Peng, Tianyi; Sinha, Deeksha; Wilde, Joshua T.; Zheng, Andrew T.
作者单位：New York University; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Columbia University; University of British Columbia
摘要：This paper provides the first sample complexity lower bounds for the estimation of simple diffusion models, including the Bass model (used in modeling consumer adoption) and the Susceptible-Infected-Recovered (SIR) model (used in modeling epidemics). We show that one cannot hope to learn such models until quite late in the diffusion. Specifically, we show that the time required to collect a number of observations that exceeds our sample complexity lower bounds is large. For the Bass model, our...
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作者：Cheng, Miyuki P. S.; Tang, Christopher; Lo, Chris K. Y.; Yeung, Andy C. L.; Lam, Hugo K. S.
作者单位：Hong Kong Polytechnic University; University of California System; University of California Los Angeles; University of Liverpool
摘要：With soaring labor and logistics costs in developing countries, supply chain disruptions during the COVID-19 pandemic triggered Western firms to reshore some of their offshore operations (performed in-house or outsourced) for certain strategically important products or production processes from foreign countries to their home countries. Although reshoring can create more domestic jobs and reduce supply chain risks, the impact of various external and internal risks associated with reshoring on ...
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作者：Whited, Robert L.
作者单位：North Carolina State University
摘要：Academic journals certify and disseminate scientific knowledge. However, institutional ties between journals and universities can lead to conflicts of interest that compromise peer review. I consider publication patterns in the Top 3 accounting journals in light of the journals' governance structures and institutional ties. The Accounting Review (TAR), governed by the American Accounting Association (AAA), has no university affiliations. Journal of Accounting and Economics (JAE) and Journal of...
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作者：Li, Wei; Xu, Qiping; Zhu, Qifei
作者单位：City University of Hong Kong; University of Illinois System; University of Illinois Urbana-Champaign; National University of Singapore
摘要：We exploit within-firm variations in plant-level toxic releases to examine the effect of managerial hometown preference on corporate environmental policies. We find that pollution levels are about 30% lower for plants located near chief executive officers' (CEOs') hometowns. This reduction is achieved through resource-intensive pollution control efforts, including source reduction and waste management activities. Analyses using CEO turnover provide causal inferences. Local residents benefit fr...
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作者：Aleti, Saketh; Bollerslev, Tim; Siggaard, Mathias
作者单位：Duke University; CREATES; Aarhus University
摘要：We provide strong empirical evidence for time-series predictability of the intraday return on the aggregate market portfolio by exploiting lagged high-frequency crosssectional returns on the factor zoo. Our results rely on the use of modern machine-learning techniques to regularize the predictive regressions and help tame the signals stemming from the zoo together with techniques from financial econometrics to differentiate between continuous and theoretically nonpredictable discontinuous high...
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作者：Bagliano, Fabio C.; Corvino, Raffaele; Fugazza, Carolina; Nicodano, Giovanna
作者单位：University of Turin; Collegio Carlo Alberto; NEOMA Business School; Centre for Economic Policy Research - UK
摘要：This paper robustly connects observed portfolio choices to correlations of individual income shocks with an aggregate shock (or, equivalently, with stock market returns). The share of nonparticipating individuals displaying a positive correlation, and therefore a negative hedging demand for stocks, is above 79% in both our samples. Furthermore, correlations predict nonparticipation to the equity market, also out-of-sample and for the same individual over time. These results support the traditi...
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作者：Cianciaruso, Davide; Lee-Lo, Dor; Sridhar, Sri S.
作者单位：New Economic School; Tel Aviv University; Northwestern University
摘要：We examine how the information in public signals (e.g., earnings, analysts' forecasts) affects firms' voluntary disclosures. We consider levered firms and information structures such that investors update their beliefs about both the mean and variance of the firm's cash flows. We predict that firms that, conditional on the public signal, have a higher default risk are less likely to disclose. For firms with low ex ante default risk, larger positive surprises following the public signal initial...
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作者：Sen, Michael
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作者：Grad, Tom; Riedl, Christoph; Kilduff, Gavin J.
作者单位：Copenhagen Business School; Northeastern University; New York University
摘要：Existing rivalry research finds that people try harder and perform better when competing against their rivals. However, are there conditions under which rivalry can harm performance? We integrate rivalry theory with regulatory fit theory to propose two moderators of rivalry: individual skill and situational risk for status change. We test our predictions using data from software programming contests involving more than 4.6 million competitive encounters across 16,846 software developers (coder...
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作者：Cao, Tingcun; Li, Xiaolin; Zhang, Lingling
作者单位：University of Hong Kong; University of London; London School Economics & Political Science; China Europe International Business School
摘要：Firms increasingly use a combination of image and text description when displaying products and engaging consumers. Existing research has examined consumers' response to text and image stimuli separately but has yet to systematically consider how the semantic relationship between image and text impacts consumer choice. In this research, we conduct a series of multimethod empirical studies to examine the congruence between image- and text-based product representation. First, we propose a deep-l...
