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作者：Feng, Qi; Jiang, Zhibin; Liu, Jue; Shanthikumar, George; Yang, Yang
作者单位：Purdue University System; Purdue University; Shanghai Jiao Tong University; Nanjing University
摘要：We develop the operational data analytics (ODA) framework for the classical service design problem of G=G=c=k = G = c = k systems. The customer arrival rate is unknown. Instead, some historical data of interarrival times are collected. The data -integration model, specifying the mapping from the arrival data to the service rate, is formulated based on the time -scaling property of the stochastic service process. Validating the data -integration model against the long -run average service rewar...
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作者：Bekaert, Geert; Wang, Xue; Zhang, Xiaoyan
作者单位：Columbia University; Centre for Economic Policy Research - UK; Tsinghua University
摘要：We document strong global commonality in country idiosyncratic return variances across 23 developed markets, which is stronger than international return commonality. The global common factor of idiosyncratic return variances is highly correlated with that of idiosyncratic cash flow variances and is also significantly related to variables capturing aggregate discount rate variation and the conditional market variance. Furthermore, aggregate idiosyncratic return and cash flow variances are mostl...
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作者：Ebrahimian, Mehran; Wachter, Jessica A.
作者单位：Stockholm School of Economics; University of Pennsylvania; U.S. Securities & Exchange Commission (SEC)
摘要：We build a model with inalienable human capital, in which investors finance individuals who can potentially become skilled. Although investment in skill is always optimal, it does not take place in some states of the world, due to moral hazard. In intermediate states of the world, individuals acquire skill; however outside investors and individuals inefficiently share risk. We show that this simple moral hazard problem, combined with risk aversion of individuals and outside investors, amplifie...
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作者：Buser, Thomas; Van Veldhuizen, Roel; Zhong, Yang
作者单位：University of Amsterdam; Tinbergen Institute; Lund University
摘要：Many professional and educational settings require individuals to be willing and able to perform under time pressure. We use a laboratory experiment and survey data to study preferences for working under time pressure. We make three main contributions. First, we develop an incentivized method to measure preferences for working under time pressure and document that participants in our laboratory experiment are averse to working under time pressure on average. Second, we show that there is subst...
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作者：Azmat, Ghazala; Cunat, Vicente; Henry, Emeric
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
摘要：Using a representative survey of U.S. lawyers, we document a sizeable gender gap in early partnership aspirations, which explains half of the later gender promotion gap. We further document that the correlation between aspirations and effort provides a mechanical link between aspirations and promotion. Early workplace experiences, such as harassment and demeaning comments, are linked to promotion aspirations. Moreover, early aspirations provide insight into eventual promotion outcomes that goe...
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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：Mindruta, Denisa; Bercovitz, Janet; Mares, Vlad; Feldman, Maryann
作者单位：Hautes Etudes Commerciales (HEC) Paris; University of Colorado System; University of Colorado Boulder; INSEAD Business School; Arizona State University; Arizona State University-Downtown Phoenix
摘要：Although much attention is accorded to star performers, this paper considers the extent to which stars, themselves, benefit from the contribution of their collaborators (the constellation). By considering stars, constellations, and the synergies between them, we address a key question: To what extent is collaboration performance driven by the great individual or by great constellations? We introduce a novel approach that uses a matching model to uncover the complementarities driving collaborat...
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作者：Fischer, Marc; Wies, Simone
作者单位：University of Cologne; Goethe University Frankfurt
摘要：Do firms fully capitalize on the financial strength of their customer -based brand equity (CBBE)? If not, how large is the gap to a benchmark condition where CBBE is financially fully leveraged? Which market strategies, if any, should the firm emphasize to close the gap? This research addresses these questions. The authors introduce a framework and methodology that enables firms to identify and measure their brand capabilities gap, which captures the firm's potential for leveraging CBBE into f...
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作者：Acharya, Viral V.; Johnson, Timothy; Sundaresan, Suresh; Zheng, Steven
作者单位：National Bureau of Economic Research; New York University; Center for Economic & Policy Research (CEPR); New York University; University of Illinois System; University of Illinois Urbana-Champaign; Columbia University
摘要：One measure of the ex ante cost of disasters is the welfare gain from shortening their expected duration. We introduce a stochastic clock into a standard disaster model that summarizes information about progress (positive or negative) toward disaster resolution. We show that the stock market response to duration news is essentially a sufficient statistic to identify the welfare gain to interventions that alter the state. Using information on clinical trial progress during 2020, we build contem...
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作者：Li, Wei
作者单位：City University of Hong Kong
摘要：Unlike issuer-paid credit rating agencies (CRAs), investor-paid CRAs are compensated by investors for providing rating services. Exploiting the staggered timing of rating initiation by an investor-paid rating agency (the Egan Jones Ratings (EJR)), I document that the coverage by EJR increases rated firm managers' voluntary disclosure of negative news. Consistent with EJR's rating coverage deterring managerial bad news hoarding by informing investors of downside risks, I find that the effect of...
