-
作者：Keppo, Jussi; Korte, Josef
作者单位：National University of Singapore; Goethe University Frankfurt
摘要：We analyze the Volcker Rule's announcement effects on U.S. bank holding companies. In line with the rule and the banks' public compliance announcements, we find that those banks that are affected by the Volcker Rule already reduced their trading books relative to their total assets 2.34% more than other banks. However, the announcement of the rule did not reduce the banks' overall risk taking. To keep their risk targets, the affected banks raised the riskiness of their asset returns. We also f...
-
作者：Wang, Zhongmin; Lee, Alvin; Polonsky, Michael
作者单位：Resources for the Future; Deakin University
摘要：Consumer boycotts are triggered by egregious events, but the literature has not distinguished the level of egregiousness from consumers' preferences or disutility associated with a given level of egregiousness, nor has the literature studied how these two components of egregiousness affect boycott intensity. We provide a model of market-level boycotts that distinguishes the two egregiousness components. Consistent with the predictions of our model, the market-level intensity of consumer boycot...
-
作者：Koh, Ping-Sheng; Reeb, David M.; Zhao, Wanli
作者单位：ESSEC Business School; National University of Singapore; Southern Illinois University System; Southern Illinois University; Renmin University of China
摘要：We investigate whether managerial traits influence corporate decisions to provide mandatory financial disclosures. The results indicate that firms with confident chief executive officers (CEOs) are 24% more likely to report their research and development (R&D) expenditures relative to firms with cautious CEOs. Exploiting staggered, state-level regulatory shocks and changes in CEO type, we find substantial evidence that cautious CEO firms fail to report R&D expenditures. After a plausibly exoge...
-
作者：Blevins, Jason R.; Khwaja, Ahmed; Yang, Nathan
作者单位：University System of Ohio; Ohio State University; University of Cambridge; McGill University
摘要：We develop and estimate a dynamic game of strategic firm expansion and contraction decisions to study the role of firm size in future profitability and market dominance. Modeling firm size is important because retail chain dynamics are more richly driven by expansion and contraction than de novo entry or permanent exit. Additionally, anticipated size spillovers may influence the strategies of forward-looking firms, making it difficult to analyze the effects of size without explicitly accountin...
-
作者：Kocher, Martin G.; Schudy, Simeon; Spantig, Lisa
作者单位：University of Munich; University of Gothenburg
摘要：Unethical behavior such as dishonesty, cheating and corruption occurs frequently in organizations or groups. Recent experimental evidence suggests that there is a stronger inclination to behave immorally in groups than individually. We ask if this is the case, and if so, why. Using a parsimonious laboratory setup, we study how individual behavior changes when deciding as a group member. We observe a strong dishonesty shift. This shift is mainly driven by communication within groups and turns o...
-
作者：Rossi, Federico
作者单位：Purdue University System; Purdue University
摘要：Despite criticisms regarding their effectiveness, reward programs today represent a prevalent and apparently successful form of marketing investment for several industries such as airlines, hotels, gas stations, and credit cards. To understand what might contribute to their success, this paper investigates the purchase behavior of consumers who participate in a reward program from the travel industry. We estimate a dynamic demand model of gasoline purchase, and compare the value that consumers...
-
作者：Li, Tao
作者单位：University of Warwick
摘要：Proxy advisory firms wield large influence with voting shareholders. However, conflicts of interest may arise when an advisor sells services to both investors and issuers. Using a unique data set on voting recommendations, I find that for most types of proposals, competition from a new entrant reduces favoritism toward management by an incumbent advisor that serves both corporations and investors. The results are not driven by factors that influence the entrant's coverage decision, such as the...
-
作者：Marinesi, Simone; Girotra, Karan; Netessine, Serguei
作者单位：University of Pennsylvania; INSEAD Business School; INSEAD Business School
摘要：We study threshold discounting, or the practice of offering a discounted-price service if at least a prespecified number of customers signal interest in it, as pioneered by Groupon. We model a capacity-constrained firm, a random-sized population of strategic customers, a desirable hot period, and a less desirable slow period. Compared to a more traditional approach (slow period discounting or closure), threshold discounting has two operational advantages. First, the contingent discount tempora...
-
作者：Montez, Joao; Ruiz-Aliseda, Francisco; Ryall, Michael D.
作者单位：University of Lausanne; Pontificia Universidad Catolica de Chile; University of Toronto
摘要：The new perspective emerging from strategy's value-capture stream is that the effects of competition are twofold: competition for an agent bounds its performance from below, while that for its transaction partners bounds from above. Thus, assessing the intensity of competition on either side is essential to understanding firm performance. Yet, the literature provides no formal notion of competitive intensity with which to make such assessments. Rather, some authors use added value as their cen...
-
作者：Suhonen, Niko; Saastamoinen, Jani
作者单位：University of Eastern Finland
摘要：Many empirical studies focusing on how prior outcomes affect subsequent risk taking report conclusions that appear mutually contradictory. While some studies document increased risk taking after gains and risk aversion after losses, others report the opposite. This paper contributes to this literature by investigating horse race bettors' sequential risky decisions using individual-level data. A horse race betting market is a laboratory-like environment and can be used to analyze behavioral pat...
