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作者：Zorc, Saga; Chick, Stephen E.; Hasija, Sameer
作者单位：University of Virginia; INSEAD Business School; INSEAD Business School
摘要：Outcomes-based reimbursement rewards health providers with better health outcomes with higher payments. Such reimbursement policies require several design choices, including the type of contract (e.g., capitation or fee-for-service), measure (e.g., population-or provider-level outcomes), and whether to contract with individual providers or larger groups. We explore which outcomes-based reimbursement policies may be vulnerable to potentially illegal collusion, and whether collusion issues can b...
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作者：Liu, Huihui; Song, Haotian; Xiao, Wenqiang
作者单位：Beihang University; Zhejiang University; New York University
摘要：This paper investigates credit guarantees in a supply chain setting involving a supplier, a capital-constrained buyer, and a bank. We find that under complete information, credit guarantees increase order quantities but paradoxically raise wholesale prices, overall rendering the credit guarantee not useful for improving the operational efficiency. However, under information asymmetry, either a partial or full guarantee emerges in equilibrium, with the wholesale price maintained at its optimal ...
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作者：Zhang, Hong; Wang, Hongchang; Mehra, Amit; Zheng, Zhiqiang (Eric)
作者单位：University of Arizona; University of Arizona; University of Texas System; University of Texas Dallas
摘要：A common challenge faced by two-sided marketplaces is to expand the market while ensuring satisfactory matching of the two sides. We study a new platform growth strategy that increases market thickness with free entry while allowing suppliers to discretionarily signal product quality to buyers, thus forming a tiered market structure that maintains matching performance. We consider such an example with nonfungible token (NFT) markets where suppliers could choose to delay the entry cost of the N...
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作者：He, Cheng; Li, Zhuoxin
作者单位：University of Wisconsin System; University of Wisconsin Madison
摘要：One in 10 U.S. households experience food insecurity, with millions of lowincome families lacking access to fresh food. In response, federal and state governments recently launched the Supplemental Nutrition Assistance Program (SNAP) Online Purchasing Pilot (SNAP Online), enabling SNAP benefits to cover online food purchases. Although prior research suggests that the SNAP Online program may increase overall food consumption, its impact on fresh food consumption remains unclear. This research l...
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作者：Callen, Michael; Fajardo-Steinhauser, Miguel; Findley, Michael G.; Ghani, Tarek
作者单位：University of London; London School Economics & Political Science; University of Texas System; University of Texas Austin; Washington University (WUSTL)
摘要：Can digital payments help reduce extreme hunger? Humanitarian needs are at their highest since 1945, aid budgets are falling behind, and hunger is concentrating in fragile states where repression and aid diversion present major obstacles. In such contexts, partnering directly with governments is often neither feasible nor desirable, making private digital payment platforms a potentially useful means of delivering assistance. We experimentally evaluated digital payments to extremely poor, femal...
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作者：Bao, Dichu; Su, Lixin (Nancy); Zhao, Chris X.; Zhou, Gaoguang (Stephen)
作者单位：Lingnan University; Hong Kong Polytechnic University; Hong Kong Baptist University
摘要：Mandatory disclosure is a primary source of public information available to acquirers, yet little is known about how potential target managers respond to takeover threats by avoiding mandatory disclosure. This study focuses on redactions in material contracts as a setting of mandatory disclosure avoidance. We find that managers facing takeover threats are more likely to redact material contracts than other managers. To better differentiate the motives for redactions, we classify redacted contr...
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作者：Johnson, William C.; Karpoff, Jonathan M.; Wittry, Michael D.
作者单位：University of Massachusetts System; University of Massachusetts Lowell; University of Washington; University of Washington Seattle; University System of Ohio; Ohio State University
摘要：Using director-specific, within-firm variation in poison pills, we find that pilladopting nonexecutive directors experience a decrease in shareholder votes, an increase in termination rates across all their directorships, and a decrease in the likelihood of new board appointments. These consequences are not because of poor firm performance, active bid resistance, or hedge fund activism, and accrue especially when the adopted pill is relatively costly to the firm. Firms have positive stock pric...
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作者：Joshi, Yogesh V.; Singh, Shubhranshu
作者单位：University System of Maryland; University of Maryland College Park; Johns Hopkins University
摘要：Private firms often develop new products by utilizing substantial infrastructure investments made by government agencies. We construct a mixed oligopoly model to study the interactions between the government's infrastructure quality decision and the subsequent public and private product development decisions. We have five main results: First, the government permits firm entry in the product market only when the firm is sufficiently more efficient at product development than the government. Wit...
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作者：Chen, Hongyu; Simchi-Levi, David
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：Switchback experiments, in which experimental units are assigned to control and treatment interchangeably over time, have gained increasing popularity in recent years due to their ability to mitigate interference across units. Despite their wide adoption in the technology sector, drawing reliable inferences from such experiments remains challenging due to temporal interference. In this paper, we address this challenge by examining a special causal structure commonly found in a wide range of ap...
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作者：Aswani, Jitendra; Rajgopal, Shivaram
作者单位：Massachusetts Institute of Technology (MIT); Columbia University
摘要：Our analysis of green bonds issued between 2013 and 2022 reveals a distinctive shareholder preference for such assets, particularly among financial institutions. In the secondary market, the green bonds issued by financial firms' trade at a greenium of 8.2 basis points compared with matched samples, which is attributed potentially to the financial firms' efforts in channeling funds to green loans. Past work documenting a positive stock price reaction to the issuance of green bonds is isolated ...
