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作者：Haruvy, Ernan; Katok, Elena; Pavlov, Valery
作者单位：McGill University; University of Texas System; University of Texas Dallas; University of Auckland
摘要：The behavioral literature has demonstrated that the format of supply chain contracts matters even when theoretically it should not and that contracts that in theory coordinate channels fail to do so in laboratory experiments. The existing body of experimental evidence uses an ultimatum bargaining protocol to test analytical models, but there is no reason to think that bargaining in supply chains is in the form of ultimatum offers. We investigate the effect of bargaining on contract performance...
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作者：Flores-Szwagrzak, Karol; Treibich, Rafael
作者单位：Copenhagen Business School; University of Southern Denmark
摘要：We propose a new method to disentangle individual from team productivity, CoScore. CoScore uses the varying membership and levels of success of all teams to simultaneously infer an individual's productivity and her credit for each of her teams' successes. Crucially, the productivities of all individuals are determined endogenously via the solution of a fixed point problem. We show that CoScore is well defined, and we provide axiomatic foundations for the inferred credit allocation. We illustra...
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作者：Basu, Riddha; Naughton, James P.
作者单位：George Washington University; University of Virginia
摘要：We examine whether the recognition versus disclosure of identical accounting information affects the credit rating process and ultimately corporate credit ratings. The primary input into corporate credit ratings is adjusted financial statements, which the rating agencies create by modifying reported financial statements to reflect credit-relevant items not recognized under U.S. Generally Accepted Accounting Principles. The rating agencies have claimed that this process means that accounting ch...
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作者：Aiken, Adam L.; Ellis, Jesse A.; Kang, Minjeong
作者单位：Elon University; North Carolina State University; Heriot Watt University
摘要：We examine the role of political ideology in portfolio formation by studying a unique set of investors whose ideology can be precisely captured by a well-defined, continuous measure and whose personal asset allocation decisions are mandatorily disclosed, namely, the members of the U.S. Congress. As such, we overcome important methodological issues facing previous work in this area. We find that politicians with similar beliefs hold similar portfolios and that more liberal members engage in mor...
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作者：Cantrell, Brett W.; Dickinson, Victoria
作者单位：University of Mississippi
摘要：The economics and management literature provides theoretical support for both leader and laggard firms to earn higher future operating returns. However, prior empirical research lacks a generalizable proxy to capture leader versus laggard behavior, thus limiting prior findings to specific contexts. This study utilizes a combination of firm-specific and industry life cycle identification to categorize leaders and laggards and validates the designation against constructs established in prior lit...
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作者：den Boer, Arnoud, V; Keskin, N. Bora
作者单位：University of Amsterdam; University of Amsterdam; Duke University
摘要：We consider a dynamic pricing problem with an unknown and discontinuous demand function. There is a seller who dynamically sets the price of a product over a multiperiod time horizon. The expected demand for the product is a piecewise continuous and parametric function of the charged price, allowing for possibly multiple discontinuity points. The seller initially knows neither the locations of the discontinuity points nor the parameters of the demand function but can infer them by observing st...
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作者：Duguay, Raphael; Minnis, Michael; Sutherland, Andrew
作者单位：University of Chicago; Massachusetts Institute of Technology (MIT)
摘要：We find that Sarbanes-Oxley (SOX) had two significant effects on the audit market for nonpublic entities. The first short-run effect stems from inelastic labor supply coupled with an audit demand shock from public companies. As a result, private com-panies reduced their use of attested financial reports in bank financing by 12%, and audit fee increases for nonprofit organizations (NPOs) more than doubled. The second long-run effect was a transformation in the audit supply structure. After SOX,...
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作者：Brown, David B.; Smith, James E.
作者单位：Duke University; Dartmouth College
摘要：We consider dynamic selection problems, where a decision maker repeatedly selects a set of items from a larger collection of available items. A classic example is the dynamic assortment problem with demand learning, where a retailer chooses items to offer for sale subject to a display space constraint. The retailer may adjust the assortment over time in response to the observed demand. These dynamic selection problems are naturally formulated as stochastic dynamic programs (DPs) but are diffic...
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作者：Schuldenzucker, Steffen; Seuken, Sven; Battiston, Stefano
作者单位：University of Zurich; University of Zurich; Swiss Finance Institute (SFI)
摘要：We study financial networks and reveal a new kind of systemic risk arising from what we call default ambiguity-that is, a situation where it is impossible to decide which banks are in default. Specifically, we study the clearing problem: given a network of banks interconnected by financial contracts, determine which banks are in default and what percentage of their liabilities they can pay. Prior work has shown that when banks can only enter into debt contracts with each other, this problem al...
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作者：Dai, Tinglong; Zheng, Ronghuo; Sycara, Katia
作者单位：Johns Hopkins University; University of Texas System; University of Texas Austin; Carnegie Mellon University
摘要：The ongoing shortage of organs for transplantation has generated an expanding literature on efficient and equitable allocation of the donated cadaveric organs. By contrast, organ donation has been little explored. In this paper, we develop a parsimonious model of organ donation to analyze the welfare consequences of introducing the donor-priority rule, which grants registered organ donors priority in receiving organs should they need transplants in the future. We model an individual's decision...
