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作者：Zhang, Zhe George; Luh, Hsing Paul; Wang, Chia-Hung
作者单位：Lanzhou University; Simon Fraser University; Western Washington University; National Chengchi University
摘要：Motivated by the waiting lines between the U.S.-Canadian border crossings, we investigate a security-check system with both security and customer service goals. In such a system, every customer has to be inspected by the first-stage inspector, but only a proportion of customers need to go through the second stage for further inspection. This further inspection proportion, affecting both security screening and the system congestion, becomes a key decision variable for the security-check system....
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作者：Archak, Nikolay; Ghose, Anindya; Ipeirotis, Panagiotis G.
作者单位：New York University
摘要：Increasingly, user-generated product reviews serve as a valuable source of information for customers making product choices online. The existing literature typically incorporates the impact of product reviews on sales based on numeric variables representing the valence and volume of reviews. In this paper, we posit that the information embedded in product reviews cannot be captured by a single scalar value. Rather, we argue that product reviews are multifaceted, and hence the textual content o...
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作者：Graham, John R.; Hazarika, Sonali; Narasimhan, Krishnamoorthy
作者单位：Duke University; National Bureau of Economic Research; City University of New York (CUNY) System; Baruch College (CUNY); Pacific Investment Management Company, LLC
摘要：We study a period of severe disequilibrium to investigate whether board characteristics are related to corporate investment, debt usage, and firm value. During the 1930-1938 Depression era, when the corporate sector was shocked by an unprecedented downturn, we document a relation between board characteristics and firm performance that varies in economically sensible ways: Complex firms (that would benefit more from board advice) exhibit a positive relation between board size and firm value, an...
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作者：Liu, Qiao; Wong, Kit Pong
作者单位：Peking University; University of Hong Kong
摘要：This paper develops a real options model to understand two distinct roles played by intellectual capital in corporate financing decisions. Whereas limiting a firm's debt capacity because of its low liquidation value, intellectual capital enhances a firm's debt capacity through its positive impact on earnings. Our model shows that the former dominates or is dominated by the latter, depending on whether the rate of dissipation of intellectual capital upon default is larger or smaller than a crit...
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作者：Zhang, Xiaoquan (Michael); Feng, Juan
作者单位：Hong Kong University of Science & Technology; City University of Hong Kong
摘要：Keyword advertising, or sponsored search, is one of the most successful advertising models on the Internet. One distinctive feature of keyword auctions is that they enable advertisers to adjust their bids and rankings dynamically, and the payoffs are realized in real time. We capture this unique feature with a dynamic model and identify an equilibrium bidding strategy. We find that under certain conditions, advertisers may engage in cyclical bid adjustments, and equilibrium bidding prices may ...
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作者：Angelus, Alexandar
作者单位：Singapore Management University
摘要：We consider a finite-horizon, multiechelon inventory system in which the surplus of stock can be sold (i.e., disposed) in the secondary markets at each stage in the system. What are called nested echelon order-up-to policies are shown to be optimal for jointly managing inventory replenishments and secondary market sales. Under a general restriction on model parameters, we establish that it is optimal not to both sell off excess stock and replenish inventory. Secondary market sales complicate t...
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作者：Hsieh, J. J. Po-An; Rai, Arun; Xu, Sean Xin
作者单位：Hong Kong Polytechnic University; University System of Georgia; Georgia State University; University System of Georgia; Georgia State University; Tsinghua University
摘要：How can firms extract value from already-implemented information technologies (IT) that support the work processes of employees? One approach is to stimulate employees to engage in post-adoptive extended use, i.e., to learn and apply more of the available functions of the implemented technologies to support their work. Such learning behavior of extending functions in use is ingrained in a process by which users make sense of the technologies in the context of their work system. This study draw...
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作者：Bakos, Yannis; Dellarocas, Chrysanthos
作者单位：New York University; Boston University
摘要：Commerce depends on buyers and sellers fulfilling their contractual obligations; mechanisms inducing such performance are essential to well-functioning markets. Internet-enabled reputation mechanisms that collect and disseminate consumer feedback have emerged as prominent means for inducing seller performance in online and offline markets. This paper compares the ability of reputation and more traditional litigation-like mechanisms for dispute resolution to induce efficient economic outcomes. ...
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作者：Boyabatli, Onur; Kleindorfer, Paul R.; Koontz, Stephen R.
作者单位：Singapore Management University; INSEAD Business School; University of Pennsylvania; Colorado State University System; Colorado State University Fort Collins
摘要：T his paper analyzes the optimal procurement, processing, and production decisions of a meat-processing company (hereafter, a packer) in a beef supply chain. The packer processes fed cattle to produce two beef products, program (premium) boxed beef and commodity boxed beef, in fixed proportions, but with downward substitution of the premium product for the commodity product. The packer can source input (fed cattle) from a contract market, where long-term contracts are signed in advance of the ...
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作者：Green, Jeremiah; Hand, John R. M.; Soliman, Mark T.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of North Carolina; University of North Carolina Chapel Hill; University of Washington; University of Washington Seattle
摘要：Consistent with public statements made by sophisticated practitioners, we document that the hedge returns to Sloan's (Sloan, R. G. 1996. Do stock prices fully reflect information in accruals and cash flows about future earnings? Accounting Rev. 71(3) 289-315) accruals anomaly appear to have decayed in U. S. stock markets to the point that they are, on average, no longer reliably positive. We explore some potential reasons why this has happened. Our empirical analyses suggest that the anomaly's...
