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作者：Hsu, Po-Hsuan; Liang, Hao; Matos, Pedro
作者单位：National Tsing Hua University; Singapore Management University; European Corporate Governance Institute
摘要：In a 2010 special report, The Economist magazine termed the resurgence of stateowned, publicly listed enterprises Leviathan Inc. and criticized the poor governance and low efficiency of these firms. We compile a new comprehensive data set of state ownership of publicly listed firms in 44 countries over the period of 2004-2017 and show that state-owned enterprises are more responsive to environmental issues. The effect is more pronounced in economies lacking energy security and strong environme...
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作者：Mitra, Indrajit; Seo, Taeuk; Xu, Yu
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Atlanta; University of Michigan System; University of Michigan; University of Delaware
摘要：We establish an observational equivalence between unemployment fluctuations of the Diamond-Mortensen-Pissarides search economy augmented with time varying risk premia and an otherwise identical economy without risk premia but with a time varying value of leisure. This equivalence holds for general risk premia processes and allows us to view the effects of different models of risk premia as operating through a single channel- one that alters the value of leisure. We derive simple expressions fo...
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作者：Holzmeister, Felix; Holmen, Martin; Kirchler, Michael; Stefan, Matthias; Wengstrom, Erik
作者单位：University of Innsbruck; University of Gothenburg; University of Innsbruck; Lund University; Hanken School of Economics
摘要：Based on an online experimentwith a sample of finance professionals and participants from the general population (acting as clients), we examine drivers and motives of clients' choices to delegate investment decisions to agents. We find that clients favor delegation to investment algorithms, followed by delegation to finance professionals compensated with an aligned incentive scheme, and lastly to finance professionals receiving a fixed payment for investing on behalf of others. We show that t...
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作者：Ertekin, Necati; Ding, Yuanyuan; Donohue, Karen
作者单位：University of Minnesota System; University of Minnesota Twin Cities
摘要：Retailers are increasingly selling returned products as open-box along with their new product offerings. Whereas some retailers position open-box products side-by-side with their new counterparts in the assortment (i.e., side-by-side strategy), other retailers position them separately in a different part of the retail space/website (i.e., separate strategy). We conduct multimethodology research to investigate the effectiveness of these two visual merchandising strategies. First, using a choice...
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作者：Qi, Wel; Zhang, Yuli; Zhang, Ningwei
作者单位：Tsinghua University; Beijing Institute of Technology
摘要：Battery swapping for electric vehicle refueling is reviving and thriving. Despite a captivating sustainable future where swapping batteries will be as convenient as refuel,ing gas today, a tension is mounting in practice (beyond the traditional range anxiety issue): On one hand, it is desirable to maximize battery proximity and availability to custo,mers. On the other hand, capacitated urban power grids may curb decentralized charging at a slow speed. To reconcile this tension, some cities are...
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作者：Li, Hanwei; Simchi-Levi, David; Wu, Michelle Xiao; Zhu, Weiming
作者单位：City University of Hong Kong; Massachusetts Institute of Technology (MIT); University of Hong Kong
摘要：Host-generated property images as a visual channel reveal substantial information about properties. Selecting proper images to display can lead to higher demand and increased rental revenue. In this paper, we define, estimate, and optimize the impacts of Airbnb photos on customers' renting decisions. We apply ResNet-50, a convolutional neural network model, to build two separate, supervised learning models to evaluate the image quality and room types posted by Airbnb hosts. Then, we characteri...
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作者：Simchi-Levi, David
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
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作者：Chen, Christopher J.; Jain, Nitish; Yang, S. Alex
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; University of London; London Business School
摘要：Trade credit is an important source of short-term financing and an integrated part in supply contracts. Although a number of theories have been proposed on how trade credit could improve supply chain efficiency, causal studies on the impact of trade credit on operational decisions are scarce. In this study, we examine the impact of trade credit on inventory decisions using an empirical strategy that leverages (i) an exogenous shock imparted by the French government's intervention to impose a c...
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作者：Despotakis, Stylianos; Yu, Jungju
作者单位：City University of Hong Kong; Korea Advanced Institute of Science & Technology (KAIST)
摘要：Advancements in targeting technology have allowed firms to engage in more precise targeting based on several aspects of consumers' preferences. Exposed to more targeted ads, consumers are becoming increasingly aware of being targeted and respond accordingly. This paper provides a theoretical analysis of multidimensional targeting under which consumers can draw inferences about multiple components of their utility from the advertised product. We show that the firm can be worse off under multidi...
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作者：Guest, Nick; Kothari, S. P.; So, Eric
作者单位：Cornell University; Massachusetts Institute of Technology (MIT)
摘要：We examine the link between the scarcity of arbitrage capital and investors' response to firms' earnings information. The cost of financing levered investment strategies (i.e., investing with borrowed funds) increases in the risk profile of the securities being traded. As a result, when capital is scarce, levered traders face heightened incentives to tilt their portfolios in the direction of firms' earnings information as an indicator of lesser risk because doing so mitigates financing constra...
