Management Science

最新文章

• Herd Behavior and Mutual Fund Performance AI翻译
  作者：Koch, Andrew
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
  摘要：I develop fund-level measures of the similarity in trading of mutual fund managers, resulting in the identification of leaders, contemporaneously herding managers, and followers. I find evidence of a persistent group of funds whose trades lead the aggregate trades of the mutual fund industry; these leader funds exhibit strong subsequent performance, consistent with informed trading. By contrast, there is no evidence that managers that trade together, either contemporaneously or with a lag, out...
• The Size of the LGBT Population and the Magnitude of Antigay Sentiment Are Substantially Underestimated AI翻译
  作者：Coffman, Katherine B.; Coffman, Lucas C.; Ericson, Keith M. Marzilli
  作者单位：University System of Ohio; Ohio State University; Boston University; National Bureau of Economic Research
  摘要：We demonstrate that widely used measures of antigay sentiment and the size of the lesbian, gay, bisexual, and transgender (LGBT) population are misestimated, likely substantially. In a series of online experiments using a large and diverse but nonrepresentative sample, we compare estimates from the standard methodology of asking sensitive questions to measures from a veiled methodology that precludes inference about an individual but provides population estimates. The veiled method increased s...
• Gender Differences in Stereotypes of Risk Preferences: Experimental Evidence from a Matrilineal and a Patrilineal Society AI翻译
  作者：Pondorfer, Andreas; Barsbai, Toman; Schmidt, Ulrich
  作者单位：Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); University of Kiel; University of Johannesburg
  摘要：We use a controlled experiment to analyze gender differences in stereotypes about risk preferences of men and women across two distinct island societies in the Pacific: the patrilineal Palawan in the Philippines and the matrilineal Teop in Papua New Guinea. We find no gender differences in actual risk preferences, but we find evidence for culture-specific stereotypes. Like men in Western societies, Palawan men overestimate women's actual risk aversion. By contrast, Teop men underestimate women...
• Plant Operations and Product Recalls in the Automotive Industry: An Empirical Investigation AI翻译
  作者：Shah, Rachna; Ball, George P.; Netessine, Serguei
  作者单位：University of Minnesota System; University of Minnesota Twin Cities; Indiana University System; IU Kelley School of Business; Indiana University Bloomington; INSEAD Business School
  摘要：While there is overwhelming support for the negative consequences of product recalls, empirical evidence of operational drivers of recalls is almost nonexistent. In this study, we identify product variety (measured as the number of factory installed options), plant variety (measured as the number of models per assembly line in a plant), and capacity utilization as drivers of subsequent manufacturing-related recalls. We examine their individual and joint effects using a unique data set compiled...
• A Formal Theory of Strategy AI翻译
  作者：Van den Steena, Eric
  作者单位：Harvard University
  摘要：What makes a decision strategic? When is strategy most important? This paper formally studies these questions, starting from a (functional) definition of strategy as the smallest set of choices to optimally guide (or force) other choices. The paper shows that this definition coincides with the equilibrium outcome of a strategy formulation game, in which such strategy endogenously creates a hierarchy among decisions. With respect to what makes a decision strategic and what makes strategy valuab...
• A Meeting of the Minds: Informal Agreements and Social Norms AI翻译
  作者：Krupka, Erin L.; Leider, Stephen; Jiang, Ming
  作者单位：University of Michigan System; University of Michigan; IZA Institute Labor Economics; University of Michigan System; University of Michigan; Shanghai Jiao Tong University
  摘要：Using coordination games, we elicit social norms directly for two different games where either an agreement to take the first best action has been reached or where no such agreement exists. We combine the norms data with separately measured choice data to predict changes in behavior. We demonstrate that including social norms as a utility component significantly improves predictive performance. Then we compare social norms to guilt aversion and lying aversion. We estimate that honoring an agre...
• Judgment Extremity and Accuracy Under Epistemic vs. Aleatory Uncertainty AI翻译
  作者：Tannenbaum, David; Fox, Craig R.; Ulkumen, Gulden
  作者单位：Utah System of Higher Education; University of Utah; University of California System; University of California Los Angeles; University of Southern California
  摘要：People viewuncertain events as knowable in principle (epistemic uncertainty), as fundamentally random (aleatory uncertainty), or as some mixture of the two. We showthat people make more extreme probability judgments (i. e., closer to 0 or 1) for events they view as entailing more epistemic uncertainty and less aleatory uncertainty. We demonstrate this pattern in a domain where there is agreement concerning the balance of evidence (pairings of teams according to their seed in a basketball tourn...
• Evidence on the Presence of Representativeness Bias in Investor Interpretation of Consistency in Sales Growth AI翻译
  作者：Ahmed, Anwer S.; Safdar, Irfan
  作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School; University of North Carolina; University of North Carolina Greensboro
  摘要：We document that consistent patterns of high or low sales growth that are incongruent with underlying fundamentals are followed by significant stock price reversals. In contrast, no stock return reversals are found for firms that achieve the same level of sales growth in an inconsistent manner. Furthermore, future earnings announcement returns mimic the pattern of abnormal stock returns documented for the Consistent- and Inconsistent-Growth portfolios, respectively, corroborating our main find...
• Learning to Manage and Managing to Learn: The Effects of Student Leadership Service AI翻译
  作者：Anderson, Michael L.; Lu, Fangwen
  作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Renmin University of China
  摘要：Employers and colleges value individuals with leadership service, but there is limited evidence on whether leadership service itself creates skills. Identification in this context has proved difficult because settings in which leadership service accrues to individuals for ostensibly random reasons are rare. In this study we estimate the effects of random assignment to classroom leadership positions in a Chinese secondary school. We find that leadership service increases test scores, increases ...
• Costly Control: An Examination of the Trade-off Between Control Investments and Residual Risk in Interfirm Transactions AI翻译
  作者：Anderson, Shannon W.; Dekker, Henri C.; Van den Abbeele, Alexandra
  作者单位：University of California System; University of California Davis; Vrije Universiteit Amsterdam; KU Leuven
  摘要：Transaction cost economics predicts that investments in management control will enable risky interfirm transactions. Risk is rarely eliminated, because firms trade off costs of management control and expected costs of control loss (together, the cost of control). The resultant solution typically comprises a mix of control investments with residual performance and residual relational risks. Transaction cost economics also predicts that the control-residual risk trade-off will vary with the cost...