Management Science

最新文章

• Should Intangible Investments Be Reported Separately or Commingled with Operating Expenses? New Evidence AI翻译
  作者：Enache, Luminita; Srivastava, Anup
  作者单位：Dartmouth College
  摘要：We propose a new method to estimate intangible investment outlays, other than expenditures on advertising and research and development, that are reported on a commingled basis with operating expenses in the selling, general, and administrative category of expenses. These outlays, aimed at improving organizational knowledge and capabilities, are the largest category of intangible investments and the fastest-growing category of operating investments. They affect future firm performance and risk....
• Communication, Incentives, and the Execution of a Strategic initiative AI翻译
  作者：Hutchison-Krupat, Jeremy
  作者单位：University of Virginia
  摘要：Senior leadership has two primary levers to influence a direct report: incentives and communication. Financial incentives are credible and precisely specified but offer limited flexibility. In contrast, communication is flexible but lacks precision, and must be deemed credible to affect a direct report's actions. We study a setting where senior leadership seeks to add a new initiative to their organization's portfolio. The initiative's potential to create value is not initially well understood...
• The Rich Domain of Ambiguity Explored AI翻译
  作者：Li, Zhihua; Mueller, Julia; Wakker, Peter P.; Wang, Tong, V
  作者单位：University of Warwick; University of Munster; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
  摘要：Ellsberg and others suggested that decision under ambiguity is a rich empirical domain with many phenomena to be investigated beyond the Ellsberg urns. We provide a systematic empirical investigation of this richness by varying the uncertain events, the outcomes, and combinations of both. Although ambiguity aversion is prevailing, we also find systematic ambiguity seeking, confirming insensitivity. We find that ambiguity attitudes depend on the kind of uncertainty (the source) but not on the k...
• What Motivates Buy-Side Analysts to Share Recommendations Online? AI翻译
  作者：Crawford, Steven; Gray, Wesley; Johnson, Bryan R.; Price, Richard A., III
  作者单位：University of Houston System; University of Houston; Creighton University; University of Oklahoma System; University of Oklahoma - Norman
  摘要：We examine why buy-side analysts share investment ideas on SumZero.com , a private social networking website designed to facilitate interaction and information sharing among buy-side professionals. We explore labor market motivations for information sharing and document that analysts with strong incentives to build a reputation (i.e., those who did not attend a top 10 university and those employed at small funds) are significantly more likely to share recommendations. Our findings indicate tha...
• Choosing an n-Pack of Substitutable Products AI翻译
  作者：Fox, Edward; Norman, Laura; Semple, John
  作者单位：Southern Methodist University
  摘要：We develop a framework to model the shopping and consumption decisions of forward-looking consumers. Assuming that the consumer's future utility for each product alternative can be characterized by a standard random utility model, we use dynamic programming to determine the optimal consumption policy and the maximum expected value of consuming any n substitutable products selected while shopping (an n-pack). We propose two models. In the first (canonical) model, we assume that an alternative i...
• Hidden Skewness: On the Difficulty of Multiplicative Compounding Under Random Shocks AI翻译
  作者：Ensthaler, Ludwig; Nottmeyer, Olga; Weizsaecker, Georg; Zankiewicz, Christian
  作者单位：IZA Institute Labor Economics; Humboldt University of Berlin; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung
  摘要：Multiplicative growth processes that are subject to random shocks often have an asymmetric distribution of outcomes. In a series of incentivized laboratory experiments, we showthat a large majority of participants either strongly underestimate the asymmetry or ignore it completely. Participants misperceive the spread of the outcome distribution to be too narrowband, and they estimate the median and the mode to lie too close to the center of the distribution, failing to account for the compound...
• Competition and Credit Ratings After the Fall AI翻译
  作者：Flynn, Sean; Ghent, Andra
  作者单位：Arizona State University; Arizona State University-Tempe; University of Wisconsin System; University of Wisconsin Madison
  摘要：We analyze the entry of newcredit rating agencies into structured finance products. Our setting is unique as we study a period in which the incumbents' reputation was extremely poor and the benefit of more fee income from inflating ratings was low. We find entrants issue higher ratings than incumbents, particularly for interest-only tranches. Using measures of market share that are exogenous to incumbent ratings, we provide suggestive evidence that incumbent rating levels become more generous ...
• Collaborative Consumption: Strategic and Economic Implications of Product Sharing AI翻译
  作者：Jiang, Baojun; Tian, Lin
  作者单位：Washington University (WUSTL); Shanghai University of Finance & Economics
  摘要：Recent technological advances in online and mobile communications have enabled collaborative consumption or product sharing among consumers on a massive scale. Collaborative consumption has emerged as a major trend as the global economic recession and social concerns about consumption sustainability lead consumers and society as a whole to explore more efficient use of resources and products. We develop an analytical framework to examine the strategic and economic impact of product sharing amo...
• Enculturation Trajectories: Language, Cultural Adaptation, and Individual Outcomes in Organizations AI翻译
  作者：Srivastava, Sameer B.; Goldberg, Amir; Manian, V. Govind; Potts, Christopher
  作者单位：University of California System; University of California Berkeley; Stanford University; Stanford University
  摘要：How do people adapt to organizational culture, and what are the consequences for their outcomes in the organization? These fundamental questions about culture have previously been examined using self-report measures, which are subject to reporting bias, rely on coarse cultural categories defined by researchers, and provide only static snapshots of cultural fit. By contrast, we develop an interactional language use model that overcomes these limitations and opens new avenues for theoretical dev...
• Sharing Aggregate Inventory Information with Customers: Strategic Cross-Selling and Shortage Reduction AI翻译
  作者：Cui, Ruomeng; Shin, Hyoduk
  作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington; University of California System; University of California San Diego
  摘要：This paper studies the strategy of sharing inventory information for a firm that sells two vertically differentiated products. The seller has private information on the aggregate inventory level and the inventory composition of two product variants. The seller credibly and discretionarily discloses inventory information to customers either fully or partially, i.e., disclosing the exact inventory of each product variant, the aggregate inventory level, or no information to customers. Customers f...