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作者：Giardili, Soledad; Ramdas, Kamalini; Williamsc, Jonathan W.
作者单位：University of Edinburgh; University of London; London Business School; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：We examine the effect of plant managers on productivity using unique matched manager-plant panel data on U.S. auto-assembly plants during 1993-2007. Our econometric approach is two-pronged. Our first approach relies on using the panel nature of our data to measure variation in productivity due to managerial influence. We estimate the interquartile range of the effect of individual plant managers on average hours-per vehicle to be about 30%. Further, we find that plant managers' experience with...
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作者：Hoisl, Karin; Kongsted, Hans Christian; Marianid, Myriam
作者单位：University of Mannheim; Copenhagen Business School; Bocconi University; Bocconi University
摘要：This research investigates the role of parents in explaining the surprisingly low presence of women among inventors despite their increase among graduates from science, technology, engineering and mathematics (STEM) subjects. With Danish registry data on the population born between 1966 and 1985 and an experimental setting crafted on siblings' gender composition, we find that the transmission of inventorship fromparents to children disfavors daughters if they have a (second-born) brother. We c...
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作者：Huang, Jing-Zhi; Shi, Zhan
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Tsinghua University
摘要：We propose a two-step machine learning algorithm-the Supervised Adaptive Group LASSO (SAGLasso) method-that is suitable for constructing parsimonious return predictors from a large set of macro variables. We apply this method to government bonds and a set of 917 macro variables and construct a new, transparent, and easy-to-interpret macro variable with significant out-of-sample predictive power for excess bond returns. This new macro factor, termed the SAGLasso factor, is a linear combination ...
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作者：Song, Fenghua; Thakor, Anjan V.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Washington University (WUSTL); European Corporate Governance Institute
摘要：We develop a theory wherein a priori identical banksmay trade loans in a search market with reusable information. The equilibrium is unique, but its nature depends on the probability of a future market state. When the probability of a boom is high, all banks hold no equity and do no screening. When this probability is low, all banks choose a high level of equity and screen loans. For intermediate probability values, the equilibrium is heterogeneous, with some banks posting equity and screening...
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作者：Eftekhari, Saeede; Yaraghi, Niam; Gopal, Ram D.; Rameshe, Ram
作者单位：Tulane University; University of Miami; Brookings Institution; University of Warwick; State University of New York (SUNY) System; University at Buffalo, SUNY
摘要：Efforts to promote Health Information Exchanges (HIEs) on a nationwide scale are beset with major challenges, and one of them is its meaningful use for both physicians and patients. Referrals potentially provide a context for the meaningful use of HIE, and we are yet to understand how HIEs affect referrals. This research studies the impact of HIE on referral patterns. We establish that participation in an HIE network increases the referrals sent to and received from other HIE participants. We ...
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作者：Jullien, Bruno; Reisinger, Markus; Rey, Patrick
作者单位：Centre National de la Recherche Scientifique (CNRS); Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Frankfurt School Finance & Management; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：The availability of consumer data is inducing a growing number of firms to adopt more personalized pricing policies. This affects both the performance of, and the competition between, alternative distribution channels, which in turn has implications for firms' distribution strategies. We develop a formal model to examine a brand manufacturer's choice between mono distribution (selling only through its own direct channel) or dual distribution (selling through an independent retailer as well). W...
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作者：Eliaz, Kfir; Spiegler, Ran
作者单位：Tel Aviv University; Utah System of Higher Education; University of Utah; University of London; University College London
摘要：In order to thrive, organizations need to build and maintain an ability to meet unexpected external challenges. Yet many organizations are sluggish: their capabilities can only undergo incremental changes over time. What are the stochastic processes governing routinely occurring challenges that best prepare a sluggish organization for unexpected challenges? We address this question with a stylized principal-agent model. The agent represents a sluggish organization that can only change its capa...
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作者：Shia, Peng
作者单位：University of Southern California
摘要：Online platforms that match customers with suitable service providers utilize a wide variety of matchmaking strategies; some create a searchable directory of one side of the market (i.e., Airbnb, Google Local Finder), some allow both sides of the market to search and initiate contact (i.e., Care.com, Upwork), and others implement centralized matching (i.e., Amazon Home Services, TaskRabbit). This paper compares these strategies in terms of their efficiency of matchmaking as proxied by the amou...
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作者：Frick, Thomas W.; Belo, Rodrigo; Telang, Rahul
作者单位：Universidade Nova de Lisboa; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Carnegie Mellon University
摘要：In programmatic advertising, firms outsource the bidding for ad impressions to ad platforms. Although firms are interested in targeting consumers that respond positively to advertising, ad platforms are usually rewarded for targeting consumers with high overall purchase probability. We develop a theoretical model that shows if consumers with high baseline purchase probability respond more positively to advertising, then firms and ad platforms agree on which consumers to target. If, conversely,...
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作者：Bretschera, Lorenzo
作者单位：University of Lausanne; Swiss Finance Institute (SFI)
摘要：Industries differ in the extent to which they can offshore their production. I document that industries with low offshoring potential carry a sizeable risk premium compared with industries with high offshoring potential, suggesting that the possibility to offshore affects industry risk. A two-country dynamic trade model in which offshoring allows firms to securemarket share against foreign competitors can rationalize the empirical findings.
