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作者：Mihm, Juergen; Sting, Fabian J.; Wang, Tan
作者单位：INSEAD Business School; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：Which, if any, of a firm's inventions should it patent? Should it patent at all? Many companies engaged in an innovation race seek a patenting strategy that balances protection of their intellectual property against the knowledge spillovers resulting from disclosure requirements. Not much is known about factors that determine the patenting strategy best able to resolve this trade-off. Although scholars in various management, economics, and engineering disciplines have researched patents and pa...
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作者：Sutter, Matthias; Glaetzle-Ruetzler, Daniela
作者单位：University of Cologne; University of Innsbruck
摘要：Gender differences in the willingness to compete have been identified as one important factor in explaining gender differences in labor markets and within organizations. We present three experiments with a total of 1,570 subjects, ages three to 18 years, to investigate the origins of this gender gap. In a between-subjects design we find that boys are more likely to compete than girls as early as kindergarten and that this gap prevails throughout adolescence. Re-examining the behavior of 316 su...
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作者：Long, Xiaoyang; Nasiry, Javad
作者单位：Hong Kong University of Science & Technology
摘要：Current understanding in operations management is that prospect theory, as a theory of decision making under uncertainty, cannot systematically explain the ordering behavior observed in experiments on the newsvendor problem. We suggest this is because the newsvendor's reference point is assumed to be the status quo, i.e., zero payoff. We propose an alternative based on newsvendor's salient payoffs and show that prospect theory can, in fact, account for experimental results.
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作者：Brandts, Jordi; Cooper, David J.; Weber, Roberto A.
作者单位：Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE); State University System of Florida; Florida State University; University of East Anglia; University of Zurich
摘要：We study the effectiveness of leaders for inducing coordinated organizational change to a more efficient equilibrium, i.e., a turnaround. We compare communication from leaders to incentive increases and also compare the effectiveness of randomly selected and elected leaders. Although all interventions yield shifts to more efficient equilibria, communication from leaders has a greater effect than incentives. Moreover, leaders who are elected by followers are significantly better at improving th...
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作者：Flammer, Caroline
作者单位：Western University (University of Western Ontario)
摘要：This study examines the effect of shareholder proposals related to corporate social responsibility (CSR) on financial performance. Specifically, I focus on CSR proposals that pass or fail by a small margin of votes. The passage of such close call proposals is akin to a random assignment of CSR to companies and hence provides a quasi-experiment to study the effect of CSR on performance. I find that the adoption of close call CSR proposals leads to positive announcement returns and superior acco...
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作者：Dorn, Anne Jones; Dorn, Daniel; Sengmueller, Paul
作者单位：Drexel University; Tilburg University
摘要：This paper offers evidence from three different samples consistent with investors substituting between playing the lottery and gambling in financial markets. In the United States, increases in the jackpots of the multistate lotteries Powerball and Mega Millions are associated with significant reductions in small trade participation in the stock market. California-based discount brokerage clients and German discount brokerage clients are significantly less likely to trade during weeks with larg...
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作者：Kim, Yongtae; Song, Minsup
作者单位：Santa Clara University; Sogang University
摘要：This study examines the stock-price reactions to analyst forecast revisions around earnings announcements to test whether preannouncement forecasts reflect analysts' private information or piggybacking on confounding events and news. We find that management earnings forecasts influence the timing and precision of analyst forecasts. More importantly, evidence suggests that prior studies' finding of weaker (stronger) stock-price responses to forecast revisions in the period immediately after (be...
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作者：Ye, Shengqi; Aydin, Goker; Hu, Shanshan
作者单位：University of Texas System; University of Texas Dallas; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：Consider a retailer using sponsored search marketing together with dynamic pricing. The retailer's bid on a search keyword affects the retailer's rank among the search results. The higher the rank, the higher the customer traffic and the customers' willingness to pay will be. Thus, the question arises: When a retailer bids higher to attract more customers, should the accompanying price also decrease (to strengthen the bid's effect on demand) or increase (to take advantage of higher willingness...
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作者：Marquardt, Carol; Zur, Emanuel
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); University System of Maryland; University of Maryland College Park
摘要：We examine the role of target firms' accounting quality in the merger and acquisition process. We predict that target firm accounting quality will be positively associated with (1) the likelihood that the deal will be structured as a negotiation rather than as an auction, (2) the speed with which the deal reaches final resolution, and (3) the likelihood that the proposed deal is ultimately completed. Our empirical evidence is consistent with these predictions. These results complement and exte...
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作者：Stewart, Neil; Reimers, Stian; Harris, Adam J. L.
作者单位：University of Warwick; City St Georges, University of London; University of London; University College London
摘要：We present a theoretical account of the origin of the shapes of utility, probability weighting, and temporal discounting functions. In an experimental test of the theory, we systematically change the shape of revealed utility, weighting, and discounting functions by manipulating the distribution of monies, probabilities, and delays in the choices used to elicit them. The data demonstrate that there is no stable mapping between attribute values and their subjective equivalents. Expected and dis...
