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作者：Cheng, Guang; Xie, Jingui; Zheng, Zhichao; Luo, Haidong; Ooi, Oon Cheong
作者单位：National University of Singapore; Technical University of Munich; Technical University of Munich; Singapore Management University; National University of Singapore
摘要：Weaning patients from mechanical ventilators is a crucial decision in intensive care units (ICUs), significantly affecting patient outcomes and the throughput of ICUs. This study aims to improve the current extubation protocols by incorporating predictive information on patient health conditions. We develop a discrete-time, finite-horizon Markov decision process with predictions of future state to support extubation decisions. We characterize the structure of the optimal policy and provide imp...
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作者：Lian, Zhen; van Ryzin, Garrett
作者单位：Yale University; Amazon.com
摘要：We develop an economic model of autonomous vehicle (AV) ride-hailing markets, in which uncertain aggregate demand is served with a combination of a fixed fleet of AVs and a flexible pool of human drivers (HVs). Dispatch efficiencies increase with scale because of density effects. We analyze market outcomes in this setting under four market configurations, defined by two dispatch platform structures (common platform versus independent platforms) and two levels of supply competition (monopoly AV...
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作者：Cheng, Mengjie (Magie); Zhang, Shunyuan
作者单位：Harvard University
摘要：The growth of the influencer marketing industry warrants an empirical examination of the effect of posting sponsored videos on influencers' reputations. We collected a novel data set of user-generated YouTube videos created by prominent English-speaking influencers in the beauty and style category. We extracted a rich set of theory-driven video features and used DiNardo-Fortin-Lemieux reweighting to construct comparable treatment and control groups matched at the influencer-video level. The em...
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作者：Lel, Ugur
作者单位：University System of Georgia; University of Georgia
摘要：I examine changes in chief executive officer (CEO) labor market outcomes following corporate environmental failures. CEOs of firms subject to Environmental Protection Agency enforcements experience a decline in labor market opportunities as outside directors and a higher likelihood of dismissal as CEOs. They also receive less shareholder support in directorial elections. These effects are mostly visible in recent years and in firms with significant socially responsible investments (SRIs), and ...
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作者：Acharya, Viral V.; Qian, Jun (QJ); Su, Yang; Yang, Zhishu
作者单位：New York University; Center for Economic & Policy Research (CEPR); European Corporate Governance Institute; National Bureau of Economic Research; Fudan University; Chinese University of Hong Kong; Tsinghua University
摘要：The rise of shadow banking and attendant financial fragility in China can be traced to intensified deposit competition following the 2008-2009 global financial crisis (GFC). A large, state-owned bank's deposits from cross-border money inflows fell significantly following the GFC, and it supported the government's fiscal stimulus more aggressively than other large banks by issuing larger volumes of new loans. Small and mediumsized banks with more branch-level overlaps with this large bank relie...
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作者：Engelberg, Joseph E.; Evans, Richard B.; Leonard, Greg; Reed, Adam, V; Ringgenberg, Matthew C.
作者单位：University of California System; University of California San Diego; University of Virginia; Virginia Polytechnic Institute & State University; University of North Carolina; University of North Carolina Chapel Hill; Utah System of Higher Education; University of Utah
摘要：We find that equity loan fees, which have been largely ignored by the anomalies literature, are the best predictor of cross-sectional returns. When compared with 102 other anomalies and other short-selling measures, the loan fee anomaly has the highest monthly long-short return (4.01%), the highest monthly Sharpe Ratio (0.66), and, unlike other anomalies, exhibits strong persistence throughout the sample. Although prior work has shown that existing anomalies reside in high loan fee stocks, we ...
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作者：Ham, Charles; Hann, Rebecca N.; Rabier, Maryjane; Wang, Wenfeng
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; University System of Maryland; University of Maryland College Park; Washington University (WUSTL); Southern University of Science & Technology
摘要：This study empirically examines the relation between audit quality and auditors' cognitive and social skills. Using a novel data set of online job postings by accounting firms, we document substantial variation in the stated demand for auditors' cognitive and social skills, suggesting that audit offices are not homogeneous in their preferences for such skills. We find a positive relation between audit quality and the prevalence of cognitive and social skills within an audit office's job postin...
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作者：Huang, Shiyang; Schneemeier, Jan; Subrahmanyam, Avanidhar; Yang, Liyan
作者单位：University of Hong Kong; Michigan State University; Michigan State University's Broad College of Business; University of California System; University of California Los Angeles; University of Toronto
摘要：We analyze a single-factor setting in which there is private information regarding cash flows as well as their betas. Private information about betas, together with market makers' risk aversion and mean betas' nonnegativity, implies a nonlinear price schedule whose stochastic slope covaries positively with order flow when the expected factor payoff is positive and vice versa. We predict a negative relation between the covariance and expected returns and an attenuation of the beta anomaly in as...
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作者：Renes, Sander; Visser, Bauke
作者单位：Delft University of Technology; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Tinbergen Institute
摘要：Committees of experts are widely used to make decisions. We experimentally investigate the relationship between decision making in committees and the assessment of the ability of committee members by evaluators, comparing observed behavior with theoretical predictions. Treatments vary in whether members care only about a statedependent project payoff or also about assessments and whether evaluators can base their assessments only on the decision the committee makes or also on cheap-talk statem...
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作者：Kim, In Kyung; Kim, Kyoo Il
作者单位：Sogang University; Michigan State University
摘要：We study the impact of a boycott on one of the largest Korean dairy producers, triggered by the exposure of the firm's unethical management practices, on sales of its own and others. We find empirical evidence that the boycott had substantial and long-lasting consequences. First, consumer utility from the boycotted products decreased significantly, reflecting consumers' strong willingness to take part in collective action. Second, our discrete choice demand model, which addresses both price en...
