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作者：Adbi, Arzi; Bhaskarabhatla, Ajay; Delios, Andrew
作者单位：National University of Singapore; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：Research Summary Do multinational enterprises from developed (DMNEs) and emerging (EMNEs) economies differ in their price discrimination strategies in Sub-Saharan Africa? Using an abductive approach, we analyze novel data from laundry detergent markets in Cameroon, Ghana, and Ivory Coast, where frugal products are widely consumed. We find that, compared to EMNEs, DMNEs charge smaller price premia for frugal relative to non-frugal products by 21%-28%. We examine several plausible explanations a...
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作者：Denrell, Jerker; Christensen, Michael; Knudsen, Thorbjorn; Liu, Chengwei
作者单位：University of Warwick; Frankfurt School Finance & Management; Imperial College London
摘要：Research Summary How should organizations manage learning dynamics? Strategy theories suggest more-is-better-fast, frictionless sharing enhances performance-while organizational learning theory warns that less-is-more, as fast learning causes premature convergence. We reconcile this tension by showing that the less-is-more prediction depends critically on a key assumption in classic computational models: that information about agents' performance is not continuously updated. When performance i...
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作者：Piezunka, Henning; Klapper, Helge; Vetter, Michael; Henkel, Joachim
作者单位：University of Pennsylvania; Purdue University System; Purdue University; Technical University of Munich
摘要：Research Summary What role do collaborations with a target's partners play in an acquisition, and how do these collaborations evolve post-acquisition? Research suggests that these collaborations are an important reason to acquire but often diminish post-acquisition. But if they tend to diminish, why are they a reason to acquire? Our analysis of acquirers' motives of 143 acquisitions of firms that collaborate with partners on 298 open-source projects resolves the outlined puzzle and reveals two...
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作者：Yalcinkaya, Beril; Ding, Waverly W.
作者单位：University of Pennsylvania; University System of Maryland; University of Maryland College Park
摘要：Research Summary We track the enactment of targeted regulation of abortion providers (TRAP) laws in the United States and analyze 4.98 million person-year mobility records for 535,568 biomedical scientists from 1990 to 2018. Our estimations reveal a 0.8-1.6 percentage-point increase in scientists' relocation probability after states enacted abortion-restrictive laws, with substantially stronger effects among junior scientists (1.6-3.9 percentage points). Anti-abortion states also became less l...
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作者：Zhao, Zeyu; Yi, Xiwei; Lange, Donald
作者单位：Arizona State University; Arizona State University-Tempe; Chinese University of Hong Kong; Peking University
摘要：Research Summary We examine whether CEO personality traits influence the likelihood of engaging in behaviors that impose agency costs on the firm. We use an established open-language machine learning program to measure CEO Big Five personality traits based on CEO remarks during earnings conference calls. We theorize and find that higher levels of agreeableness and conscientiousness in CEOs are associated with lower agency costs (operationalized here as unrelated diversification and the decoupl...
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作者：Odziemkowska, Kate; Feldman, Emilie; Hernandez, Exequiel
作者单位：University of Toronto; University of Pennsylvania
摘要：Research Summary Acquisitions can create synergies by combining an acquirer's and a target's pre-existing relationships with nonmarket stakeholders. We introduce the reset effect as a novel mechanism that occurs when a firm with cooperative stakeholder relationships combines with a firm that has conflictual relationships, prompting the affected stakeholders to re-evaluate their pre-acquisition strategies. We argue that post-acquisition conflict with nonmarket stakeholders will decline when the...
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作者：Nardi, Leandro
作者单位：Hautes Etudes Commerciales (HEC) Paris
摘要：Research Summary Regulatory anticipation is a nonmarket response whereby firms, foreseeing future penalties, adjust their behavior when peers are targeted by regulators. Prior research defines peers using broad jurisdictional boundaries. Instead, I argue that regulatory anticipation may emerge locally, driven by two channels: proximity to peer scrutiny and firms' perceived sanction risks. Examining U.S. facilities' GHG emissions, I exploit variation in local-peer scrutiny arising from a change...
