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作者：Krishnan, Karthik; Wang, Pinshuo
作者单位：Northeastern University; State University System of Florida; University of South Florida
摘要：We find that student debt is negatively related to the propensity to start a firm, particularly larger and more successful ventures. An exogenous change due to the Higher Education Amendments of 1998, which made student debt completely nondischargeable through personal bankruptcy, reduced the likelihood of entrepreneurship by student loan borrowers that were already in four-year college at the time of this regulation. Moreover, an exogenous shock to the level of student debt due to the Higher ...
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作者：de Vaan, Mathijs; Elbers, Benjamin; DiPrete, Thomas A.
作者单位：University of California System; University of California Berkeley; Columbia University
摘要：The disclosure of compensation peer groups is argued to provide shareholders with valuable information that can be used to scrutinize chief executive officer (CEO) compensation. However, research suggests that there are substantial incentives for executives and directors to bias the compensation peer group upward such that the CEO can extract additional rent. We leverage the idea that reciprocated peer nominations are unlikely to be biased to construct counterfactual peer groups that allow us ...
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作者：Hwang, Byoung-Hyoun; Liberti, Jose Maria; Sturgess, Jason
作者单位：Cornell University; Korea University; Northwestern University; DePaul University; University of London; Queen Mary University London
摘要：We study how information sharing within an organization affects individual performance. We look at situations in which the same analyst, while working at the same broker, covers multiple mergers and acquisitions (M&As), in particular the acquirer prior to the M&A and the merged firm thereafter. We find that earnings forecasts for the merged firm are significantly more accurate when the analyst has a colleague (working at the same broker) covering the target prior to the M&A. This holds particu...
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作者：Kummer, Michael; Schulte, Patrick
作者单位：University System of Georgia; Georgia Institute of Technology; University of East Anglia; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); Deutsche Bundesbank
摘要：We shed light on a money-for-privacy trade-off in the market for smartphone applications (apps). Developers offer their apps at lower prices in return for greater access to personal information, and consumers choose between low prices and more privacy. We provide evidence for this pattern using data from 300,000 apps obtained from the Google Play Store (formerly Android Market) in 2012 and 2014. Our findings show that the market's supply and demand sides both consider an app's ability to colle...
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作者：Hydari, Muhammad Zia; Telang, Rahul; Marella, William M.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Carnegie Mellon University
摘要：The risk of patient harm resulting from medical care affects hundreds of thousands of patients and costs tens of billions of dollars every year. Advanced electronic medical records (EMRs) are expected to improve patient safety, but the evidence of their impact on patient safety is inconclusive. A key challenge to evaluating advanced EMRs' impact has been the lack of reliable patient safety data. We address this issue by analyzing a new patient safety data set from the Pennsylvania Patient Safe...
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作者：Dickerson, John P.; Procaccia, Ariel D.; Sandholm, Tuomas
作者单位：University System of Maryland; University of Maryland College Park; Carnegie Mellon University
摘要：Algorithmic matches in fielded kidney exchanges do not typically result in an actual transplant. We address the problem of cycles and chains in proposed matches failing after the matching algorithm has committed to them. We show that failure-aware kidney exchange can significantly increase the expected number of lives saved (i) in theory, on random graph models; (ii) on real data from kidney exchange match runs between 2010 and 2014; and (iii) on synthetic data generated via a model of dynamic...
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作者：Shapiro, Bradley T.
作者单位：University of Chicago
摘要：The relationship between pharmaceutical detailing and prescriptions for non-FDA-approved (off-label) use has been the subject of regulatory scrutiny, with more than $12 billion in regulatory settlements for off-label promotion since 2004. Using the case of AstraZeneca's antipsychotic drug, Seroquel, I study the extent to which off-label prescriptions are caused by detailing. Using a physician panel that connects detailing exposure to medical charts, I exploit within-physician variation to iden...
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作者：Schweizer, Nikolaus; Szech, Nora
作者单位：Tilburg University; Helmholtz Association; Karlsruhe Institute of Technology; Leibniz Association; Ifo Institut
摘要：Information about the future may be instrumentally useful yet scary. For example, many patients shy away from precise genetic tests about their dispositions for severe diseases. They are afraid that a bad test result could render them desperate as a result of anticipatory feelings. We show that partially revealing tests are typically optimal when anticipatory utility interacts with an instrumental need for information. The same result emerges when patients rely on probability weighting. Optima...
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作者：Alam, Zinat S.; Chen, Mark A.; Ciccotello, Conrad S.; Ryan, Harley E., Jr.
作者单位：State University System of Florida; University of Central Florida; University System of Georgia; Georgia State University; University of Denver
摘要：We examine how the director independence mandates of the Sarbanes-Oxley Act (SOX) and related reforms affected board geography and the quality of financial reporting. Using 1998-2006 data on the residential addresses of individual directors, we document that the geographic proximity to headquarters of audit committees and other monitoring committees declined upon implementation of the mandates. The decrease in proximity was especially large for those firms that were both SOX noncompliant and s...
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作者：Ball, Ryan T.; Ghysels, Eric
作者单位：University of Michigan System; University of Michigan; Center for Economic & Policy Research (CEPR); University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina; University of North Carolina Chapel Hill
摘要：Prior studies attribute analysts' forecast superiority over time-series forecasting models to their access to a large set of firm, industry, and macroeconomic information (an information advantage), which they use to update their forecasts on a daily, weekly or monthly basis (a timing advantage). This study leverages recently developed mixed data sampling (MIDAS) regression methods to synthesize a broad spectrum of high frequency data to construct forecasts of firm-level earnings. We compare t...
