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作者：Toole, Andrew A.; Czarnitzki, Dirk
作者单位：Rutgers University System; Rutgers University New Brunswick; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); KU Leuven; KU Leuven
摘要：When academic researchers participate in commercialization using for-profit firms, there is a potentially costly trade-off-their time and effort are diverted away from academic knowledge production. This is a form of brain drain on the not-for-profit research sector that may reduce knowledge accumulation and adversely impact long-run economic growth. In this paper, we examine the economic significance of the brain drain phenomenon using scientist-level panel data. We identify life scientists w...
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作者：Gao, Guodong (Gordon); Gopal, Anandasivam; Agarwal, Ritu
作者单位：University System of Maryland; University of Maryland College Park
摘要：W e examine the heterogeneous returns to third-party quality signals in the context of the Indian software services industry. Prior theory has argued that quality certification is important in markets characterized by information asymmetry. However, there is limited understanding of the contingent factors that influence the efficacy of the quality signal. We focus on capability maturity model (CMM) certification, which is granted on the basis of a rigorous audit of software vendor's internal q...
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作者：Bala, Ram; Bhardwaj, Pradeep
作者单位：Indian School of Business (ISB); University of British Columbia
摘要：The pharmaceutical industry has always used sales representatives to target physicians (detailing), who are a key link in sales and market share for prescription pharmaceuticals. Since August of 1997, when the Food and Drug Administration eased the restrictions on direct-to-consumer advertising (DTCA), there has been a dramatic increase in the use of DTCA by pharmaceutical firms to target end customers (patients). DTCA seems to have two different effects on pharmaceutical markets. The first is...
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作者：Xu, Xin; Venkatesh, Viswanath; Tam, Kar Yan; Hong, Se-Joon
作者单位：Hong Kong Polytechnic University; University of Arkansas System; University of Arkansas Fayetteville; Hong Kong University of Science & Technology; Korea University
摘要：We develop and test a model of migration and use of platforms to explain consumers' reactions to the newest generation of an information and communication technology platform. We draw from information systems and consumer behavior research on adoption and use of technologies, and adapt and incorporate the construct of complementarity from macrolevel research on platform leadership, network effects, and innovation ecosystems. We conceptualize complementarities between the hardware and software ...
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作者：Gopal, Ram D.; Gupta, Alok
作者单位：University of Connecticut; University of Minnesota System; University of Minnesota Twin Cities
摘要：Faced with the sustained problem of piracy that costs nearly $40 billion in annual revenue losses, the software industry has adopted a number of technical, legal, and economic strategies to curb piracy and stem the resulting losses. Our work complements and contributes to the existing literature by exploring the possible effect of another economic lever-product bundling-on the relationship governing piracy and seller profits. The traditional economic rationale of demand pooling from bundling t...
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作者：Simonsohn, Uri
作者单位：University of Pennsylvania
摘要：Do firms neglect competition when making entry decisions? This paper addresses this question analyzing the time of day at which eBay sellers set their auctions to end. Consistent with competition neglect, it is found that (i) a disproportionate share of auctions end during peak bidding hours, (ii) such hours exhibit lower selling rates and prices, and (iii) peak listing is more prevalent among sellers likely to have chosen ending time strategically, suggesting disproportionate entry is a mista...
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作者：Junkunc, Marc T.; Eckhardt, Jonathan T.
作者单位：University of Miami; University of Wisconsin System; University of Wisconsin Madison
摘要：This paper utilizes an understudied but often utilized aspect of initial public offerings (IPOs), secondary shares, to examine whether the knowledge conditions of firms give rise to agency problems that limit the ability of founders and venture capitalists to sell equity at IPO. In an analysis of 2,190 IPOs spanning from 1992 through 2002, we find that private owners are less likely to be observed selling their equity at IPO in ventures that are highly dependent on technical specialized knowle...
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作者：Han, Bing; Hong, Dong; Warachka, Mitch
作者单位：University of Texas System; University of Texas Austin; Singapore Management University
摘要：We demonstrate that stock price momentum and earnings momentum can result from uncertainty surrounding the accuracy of cash flow forecasts. Our model has multiple information sources issuing cash flow forecasts for a stock. The investor combines these forecasts into an aggregate cash flow estimate that has minimal mean-squared forecast error. This aggregate estimate weights each cash flow forecast by the estimated accuracy of its issuer, which is obtained from their past forecast errors. Momen...
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作者：Chick, Stephen E.; Gans, Noah
作者单位：INSEAD Business School; University of Pennsylvania
摘要：Ranking and selection procedures are standard methods for selecting the best of a. finite number of simulated design alternatives based on a desired level of statistical evidence for correct selection. But the link between statistical significance and. financial significance is indirect, and there has been little or no research into it. This paper presents a new approach to the simulation selection problem, one that maximizes the expected net present value of decisions made when using stochast...
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作者：Waguespack, David M.; Fleming, Lee
作者单位：University System of Maryland; University of Maryland College Park; Harvard University
摘要：This paper contributes large-sample evidence to an emerging discussion on open innovation and firm strategy. We ask why a startup should participate in an open standards community. We propose four ways that participation might increase a startup's chances of a liquidity event: gaining endorsement of the startup's technology standard, openly developing the startup's technology within the community (but not necessarily gaining endorsement), simply attending physical meetings of the community, an...
