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作者：Gargano, Antonio; Sotes-Paladino, Juan; Verwijmeren, Patrick
作者单位：University of Houston System; University of Houston; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; University of Melbourne
摘要：We provide evidence that losses constrain short sellers but not the transmission of information to prices. Using unique data on U.S. equity lending, we document a negative impact of the mark-to-market losses of a stock's short sellers, but no impact of their gains, on the future shorting of the stock. Consistent with funding and institutional constraints limiting short selling, we further show that the effect is highly asymmetric across different loss levels and stronger among stocks facing hi...
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作者：Chen, David; Chen, Ruoran; Wang, Rowan; Wang, Xuan
作者单位：The Chinese University of Hong Kong, Shenzhen; Southwest Jiaotong University; Southern University of Science & Technology; Hong Kong University of Science & Technology
摘要：We study service systems with parallel servers and random customer arrivals and focus on the waiting cost of customers. Using a Markov decision process (MDP) modeling approach, we analytically characterize the structures of the optimal dynamic server assignment policies for two important systems, one consisting of multiple homogeneous servers and two classes of customers and the other consisting of two heterogeneous servers and multiple classes of customers. Based on the obtained results, we p...
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作者：Gu, Zheyin (Jane); Zhao, Xuying; Wu, D. J.
作者单位：University of Connecticut; Texas A&M University System; Texas A&M University College Station; University System of Georgia; Georgia Institute of Technology
摘要：Shoppertainment live streaming, a blend of entertainment and product selling, is becoming increasingly popular. In shoppertainment sessions, streamers face bandwidth constraints so balance between providing product information and entertainment (such as singing, dancing, and storytelling). We conceptualize a shoppertainment live streamer as a novel type of online retail platform that maximizes total commissions from selling a range of manufacturer products. Our study investigates how streamers...
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作者：Candogan, Ozan; Gurkan, Huseyin
作者单位：University of Chicago
摘要：This paper studies an information design problem of a retailer in a two-tier supply chain that procures a single type of product from a supplier. The supplier needs to decide on a production quantity by balancing the shortage cost and the excess inventory holding cost with respect to the retailer's demand. The retailer's demand is random, but the retailer receives an informative signal about the demand before the supplier sets the production quantity and places orders after learning the demand...
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作者：Lel, Ugur
作者单位：University System of Georgia; University of Georgia
摘要：I examine changes in chief executive officer (CEO) labor market outcomes following corporate environmental failures. CEOs of firms subject to Environmental Protection Agency enforcements experience a decline in labor market opportunities as outside directors and a higher likelihood of dismissal as CEOs. They also receive less shareholder support in directorial elections. These effects are mostly visible in recent years and in firms with significant socially responsible investments (SRIs), and ...
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作者：Peng, Lin; Zhang, Linyi
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); The Chinese University of Hong Kong, Shenzhen
摘要：We identify the crucial role social networks play in crowdfunding markets. Investors are 50% more likely to fund projects that their peers support and are 11.2% more likely to fund projects from regions where they share strong social ties, given a one-standarddeviation change in the variables. More influential peers exert a greater influence, especially in the case of riskier projects, and the peer effects are amplified in crowdfunding platforms that prioritize transparency and accountability....
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作者：Gay, Jonathan; Jackson, Scott B.; Seybert, Nicholas
作者单位：University of Mississippi; University of South Carolina System; University of South Carolina Columbia; University System of Maryland; University of Maryland College Park
摘要：Prior research indicates that narcissistic executives engage in earnings management and other negative organizational behaviors, and many studies ponder why firms hire such individuals, especially into corporate accounting positions. Utilizing a selection of terms from real-world job postings that we characterize as describing either a RuleBender or Rule-Follower candidate, we first conduct several validation studies which reveal that these terms vary predictably across types of job postings, ...
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作者：Wu, Lynn; Lou, Bowen; Hitt, Lorin M.
作者单位：University of Pennsylvania; University of Connecticut
摘要：We examine the role of AI analytics in facilitating innovation in firms that have gone through IPO. Using patent data on over 1,000 publicly traded firms, we find that firms acquiring AI analytics capability post-IPO experience less of a decline in innovation quality compared with similar firms that have not acquired that capability. This effect is greater when only machine learning capabilities are considered. Moreover, we find this sustained rate of innovation is driven principally by the co...
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作者：Zhao, Jinglong; Zhou, Zijie
作者单位：Boston University; Massachusetts Institute of Technology (MIT)
摘要：Practitioners and academics have long appreciated the benefits of covariate balancing when they conduct randomized experiments. For web-facing firms running online A/B tests, however, it still remains challenging in balancing covariate information when experimental subjects arrive sequentially. In this paper, we study an online experimental design problem, which we refer to as the online blocking problem. In this problem, experimental subjects with heterogeneous covariate information arrive se...
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作者：Min, Seungki; Maglaras, Costis; Moallemi, Ciamac C.
作者单位：Korea Advanced Institute of Science & Technology (KAIST); Columbia University
摘要：We consider a finite -horizon multiarmed bandit (MAB) problem in a Bayesian setting, for which we propose an information relaxation sampling framework. With this framework, we define an intuitive family of control policies that include Thompson sampling (TS) and the Bayesian optimal policy as endpoints. Analogous to TS, which at each decision epoch pulls an arm that is best with respect to the randomly sampled parameters, our algorithms sample entire future reward realizations and take the cor...
