2024

最新文章

• Editorial Statement-Business Strategy AI翻译
  作者：Gambardella, Alfonso; Guadalupe, Maria; McGahan, Anita
  作者单位：Bocconi University; INSEAD Business School; University of Toronto
• Are Political and Charitable Giving Substitutes? Evidence from the United States AI翻译
  作者：Yildirim, Pinar; Simonov, Andrei; Petrova, Maria; Perez-Truglia, Ricardo
  作者单位：University of Pennsylvania; Michigan State University; Michigan State University's Broad College of Business; Centre for Economic Policy Research - UK; Pompeu Fabra University; Barcelona School of Economics; University of California System; University of California Berkeley
  摘要：Using microdata from the American Red Cross (ARC) and the Federal Election Commission (FEC) in two natural experiments, we provide evidence that political giving and charitable giving are substitutes. In the first natural experiment, we estimate the effects of a positive shock to charitable donations to the ARC: foreign natural disaster events. We find that although charitable donations to ARC increase by 34.9% in the six weeks following a disaster, political donations decline by 18.8% in the ...
• Participation vs. Effectiveness in Sponsored Tweet Campaigns: A Quality-Quantity Conundrum AI翻译
  作者：Peng, Jing; Van den Bulte, Christophe
  作者单位：University of Connecticut; University of Pennsylvania
  摘要：We investigate the participation and effectiveness of paid endorsers in sponsored tweet campaigns. We manipulate the financial pay rate offered to endorsers on a Chinese paid endorsement platform, where payouts are contingent on participation rather than engagement outcomes. Hence, our design can distinguish between variation in participation and variation in outcomes, even if people select to endorse only specific tweets. Also, the lack of compensation for effort allows one to attribute diffe...
• The Gender Gap in Meaningful Work AI翻译
  作者：Burbano, Vanessa C.; Folke, Olle; Meier, Stephan; Rickne, Johanna
  作者单位：Columbia University; Uppsala University; Stockholm University; Stockholm School of Economics; University of Nottingham
  摘要：An understanding of differences in nonmonetary work conditions is fundamental for a complete characterization of individuals' well-being at work. Thus, to fully characterize gender inequalities in the labor market, scholars have begun to explore gender differences in nonmonetary work conditions. We examine one such condition-meaningful work-using nationally representative survey data linked with worker and employer administrative data. We document a large and expanding gender gap in meaningful...
• Exposure to the Views of Opposing Others with Latent Cognitive Differences Results in Social Influence-But Only When Those Differences Remain Obscured AI翻译
  作者：Guilbeault, Douglas; van Loon, Austin; Lix, Katharina; Goldberg, Amir; Srivastava, Sameer B.
  作者单位：University of California System; University of California Berkeley; Duke University; Stanford University
  摘要：Cognitive differences can catalyze social learning through the process of one-toone social influence. Yet the learning benefits of exposure to the ideas of cognitively dissimilar others often fail to materialize. Why do cognitive differences produce learning from interpersonal influence in some contexts but not in others? To answer this question, we distinguish between cognition that is expressed-one's public stance on an issue and the way in which supporting arguments are framed-and cognition...
• The Global Determinants of International Equity Risk Premiums AI翻译
  作者：Londono, Juan M.; Xu, Nancy R.
  作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Boston College
  摘要：We examine the commonalities in international equity risk premiums by linking empirical evidence for the ability of U.S. downside and upside variance risk premiums (DVP and UVP, respectively) to predict international stock returns with implications from an empirical model featuring asymmetric economic uncertainty and risk aversion. We find that DVP and UVP predict international stock returns through U.S. bad and good macroeconomic uncertainties, respectively. Sixty percent to 80% of the dynami...
• The Effect of Language on Income Smoothing: Cross-Country Evidence AI翻译
  作者：Cao, Wenjiao; Myers, Linda A.; Zhang, Zhifang
  作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; University of Tennessee System; University of Tennessee Knoxville; University of Warwick
  摘要：We examine whether and how the time-oriented tendency embedded in languages influences income smoothing. Separating languages into weak- versus strong-future time reference (FTR) groups, we find that firms in weak-FTR countries tend to smooth earnings more. We also find that relationships with major stakeholders (i.e., debtholders, suppliers, and employees) amplify the effect of the FTR of languages on income smoothing. Additional analyses suggest that income smoothing driven by the FTR of lan...
• Housing Cycles and Exchange Rates AI翻译
  作者：Ma, Sai; Zhang, Shaojun
  作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; University System of Ohio; Ohio State University
  摘要：This paper documents that the ratio of residential-to-nonresidential investment is a strong in-sample and out-of-sample predictor for the dollar up to 12 quarters. The predictability is robust to a battery of additional checks and holds for other G10 currencies. We explain the predictability in an analytical model with time-varying housing preference, productivity, and volatility. In the model, the U.S. housing investment share is higher during periods with higher growth and lower uncertainty,...
• Privacy-Preserving Personalized Revenue Management AI翻译
  作者：Lei, Yanzhe (Murray); Miao, Sentao; Momot, Ruslan
  作者单位：Queens University - Canada; University of Colorado System; University of Colorado Boulder; University of Michigan System; University of Michigan
  摘要：This paper examines how data-driven personalized decisions can be made while preserving consumer privacy. Our setting is one in which the firm chooses a personalized price based on each new customer's vector of individual features; the true set of individual demand-generating parameters is unknown to the firm and so must be estimated from historical data. We extend the existing personalized pricing framework by requiring also that the firm's pricing policy preserve consumer privacy, or (formal...
• Demographic Stickiness: The Demographic Identity of Departing Group Members Influences Who Is Chosen to Replace Them AI翻译
  作者：Chang, Edward H.; Kirgios, Erika L.
  作者单位：Harvard University; University of Chicago
  摘要：People tasked with replacing a departing group member are disproportionately likely to choose a replacement with the same demographic identity, leading to demographic stickiness in group composition. We examine this effect in 2,163 U.S. federal judge appointments over 75 years, in the selection of 5,616 S & P 1500 board directors from 2014 to 2019, and in four preregistered experiments (n = 2,900). The patterns we document are generally consistent with both impact aversion (desires to minimize...