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作者：Li, Erica X. N.; Ma, Guoliang; Wang, Shujing; Yu, Cindy
作者单位：Xiamen University; Xiamen University; Tongji University; Iowa State University
摘要：This paper proposes a portfolio-independent method to estimate q-theory models, in which parameters are obtained using Bayesian Markov chain Monte Carlo (MCMC) to match firm-level stock returns. Our methodology addresses a previous critique on prior studies that model parameters are chosen to fit a specific set of anomalies and different values are needed to fit each anomaly. By targeting the entire sample of firm-level returns and allowing industry and time variations in parameter values, our...
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作者：Nittala, Lakshminarayana; Erat, Sanjiv
作者单位：University System of Ohio; University of Dayton; University of California San Diego; University of California System; University of California San Diego
摘要：Innovation contests incentivize the participants' to exert effort toward combining (recombining) their existing knowledge to create solutions. In the current work, we consider the case of serial contests, where effort to create solutions for earlier contests can also expand the participant's knowledge, which can then be valuable in future contests. We develop a novel framework that explicitly includes the generation and utilization of knowledge by participants in knowledge-driven serial innova...
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作者：Vayanos, Phebe; Georghiou, Angelos; Yu, Han
作者单位：University of Southern California; University of Southern California; University of Southern California; University of Cyprus
摘要：Robust optimization (RO) is a popular paradigm for modeling and solving twoand multistage decision-making problems affected by uncertainty. In many real-world applications, such as R&D project selection, production planning, or preference elicitation for product or policy recommendations, the time of information discovery is decision-dependent and the uncertain parameters only become observable after an often costly investment. Yet, most of the literature on robust optimization assumes that th...
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作者：Lowry, Michelle R.; Vance, Anthony; Vance, Marshall D.
作者单位：Virginia Polytechnic Institute & State University; Virginia Polytechnic Institute & State University
摘要：We conduct a field study of boards' emerging responsibility to oversee cybersecurity risk, a setting in which few directors have expertise. We find that, although nonexpert directors may genuinely seek to provide diligent oversight, without expertise their efforts lack substance and therefore are mostly symbolic, even when they perform the same oversight activities as expert directors. We also explore why boards do not prioritize the appointment of cybersecurity experts and show that nonexpert...
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作者：Bondi, Tommaso; Rafieian, Omid; Yao, Yunfei (jesse)
作者单位：Cornell University; Cornell University; Chinese University of Hong Kong
摘要：Advances in behavioral targeting allow media firms to better monetize based on advertising. However, behavioral ad targeting requires consumer tracking, which has heightened privacy concerns among consumers and regulators. We examine how stricter privacy regulations that ban consumer tracking affect media firms' content strategies and ideological positioning. We consider a model where media firms choose their ideological positioning and advertising, whereas ideologically heterogeneous consumer...
