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作者：Dambra, Michael; Gustafson, Matthew
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We examine how regulatory burdens affect the investment and innovation of newly public firms. To do so, we exploit the Jumpstart Our Business Startups (JOBS) Act, which eliminates certain disclosure, auditing, and governance requirements for a subset of newly public firms. Firms treated with these reduced burdens invest more and more efficiently after going public relative to untreated firms. These findings are concentrated in innovative investments and are nonexistent in dual-class firms. Ove...
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作者：Chu, Junhong; Duan, Yige; Yang, Xianling; Wang, Li
作者单位：National University of Singapore; University of British Columbia
摘要：Dockless bike sharing provides a convenient and affordable means of transport for urban residents. It solves the last-mile problem in public transport by reducing the travel cost between home and subway stations and thus increasing the attractiveness of distant apartments. This may affect the relationship between housing price and distance to subway and reduce the price premium enjoyed by proximate apartments. Using resale apartment data in 10 major cities in China, a difference-in-differences...
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作者：Da, Zhi; Gurun, Umit G.; Li, Bin; Warachka, Mitch
作者单位：University of Notre Dame; University of Texas System; University of Texas Dallas; University of Oklahoma System; University of Oklahoma - Norman; Chapman University System; Chapman University
摘要：A large literature reports that proximity influences investment. We extend the measurement of proximity beyond distance and report that air travel reduces local investment bias. This result is confirmed using the initiation of connecting flights through recently opened air hubs because investment at destinations served by these connecting flights increases after, not before, their initiation. Air travel also broadens the investor base of firms and lowers their cost of equity by approximately 1...
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作者：Stamatopoulos, Ioannis; Bassamboo, Achal; Moreno, Antonio
作者单位：University of Texas System; University of Texas Austin; Northwestern University; Harvard University
摘要：We use the adoption of electronic shelf labels (ESLs) by an international grocery retailer in 2015 to identify the effects of physical menu costs (i.e., labor and material costs of price adjustment) on retail performance. We find that the installation of ESLs increased gross margins substantially, which implies profit gains that go far beyond labor cost savings. We also explore the mechanism behind this effect. We find that the lift in gross margins was associated with an increase in quantity ...
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作者：Lee, Dokyun; Hosanagar, Kartik
作者单位：Carnegie Mellon University; University of Pennsylvania
摘要：We investigate the moderating effect of product attributes and review ratings on views, conversion|views (conversion conditional on views), and final conversion of a purchase-based collaborative filtering recommender system on an e-commerce site. We run a randomized field experiment on a top retailer with 184,375 users split into a recommender-treated group and a control group. We tag theory-driven attributes of 37,125 unique products via Amazon Mechanical Turk to augment the usual product dat...
