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作者：Kouvelis, Panos; Turcic, Danko; Zhao, Wenhui
作者单位：Washington University (WUSTL); Shanghai Jiao Tong University
摘要：Problem description: Purchase costs of raw materials required in production tend to fluctuate over time. Mild cost fluctuations merely affect firms' profitability. Significant variations can lead to supply chain disruption. What are the best contracts to be used in supply chains exposed to fluctuating raw material costs? We ask this question in two contexts-in the presence and the absence of working capital constraint. Academic/practical relevance: We add a framework on how to optimally contra...
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作者：Babich, Volodymyr; Kouvelis, Panos
作者单位：Georgetown University; Washington University (WUSTL)
摘要：Interface of finance, operations, and risk management (iFORM) is a relatively new research area dealing with timely, complex, and boundary-spanning issues in a variety of settings from start-ups to global enterprises. iFORM research addresses ways to better integrate physical, financial, and informational flows by combining the operational choices of the firm with its financial decisions, and merging information flows between the firm and its customers and suppliers with informational flows be...
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作者：Lai, Guoming; Xiao, Wenqiang
作者单位：University of Texas System; University of Texas Austin; New York University
摘要：This paper examines how managerial short-termism can affect a firm's inventory decision when external investors have only partial information about the firm's demand uncertainty. We first study the scenario where the manager's short-termism is exogenously given. We derive the full equilibrium spectrum ranging from stable separating to pooling equilibria, which yields insights for learning firms' demand uncertainty from their inventory and sales information and for understanding the effect of m...
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作者：Ning, Jie; Sobel, Matthew J.
作者单位：University System of Ohio; Case Western Reserve University
摘要：We formulate and analyze a stylized dynamic model of a price-taking firm that manages production and capacity, uses only internal financing, and faces stochastic market environments. The firm has two operationally independent production facilities, each of which makes two products, and a cash reserve that finances all operations and dividend issuance. Each period the firm chooses the amount of dividend to issue, and at each facility it chooses production quantities and amounts of capacity to a...
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作者：Zhang, Fuqiang; Zhang, Renyu
作者单位：Washington University (WUSTL); New York University; NYU Shanghai
摘要：Trade-in remanufacturing is a commonly adopted business practice under which firms collect used products for remanufacturing by allowing repeat customers to trade in used products for upgraded ones at a discount price. This paper studies how customer purchasing behavior and remanufacturing efficiency affect the economic and environmental values of such a business practice. We demonstrate a new benefit of trade-in remanufacturing: it helps exploit the forward-looking behavior of strategic custo...
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作者：Kraft, Tim; Valdes, Leon; Zheng, Yanchong
作者单位：University of Virginia; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Massachusetts Institute of Technology (MIT)
摘要：Consumers increasinglywant to knowmore about where and howthe products they purchase are being made. To create transparency requires a company to both gain visibility into its supply chain and disclose information to consumers. In this paper, we focus on the dimension of visibility and investigate when companies can benefit from greater supply chain visibility. To do so, we design an incentivized human-subject experiment to study two key questions: (i) How does supply chain visibility impact c...
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作者：Alan, Yasin; Gaur, Vishal
作者单位：Vanderbilt University; Cornell University
摘要：Problem definition: Banks commonly use asset-based lending (ABL) to provide loans collateralized by a borrower firm's inventory. We study the implications of ABL by examining how banks should determine asset-based loan terms based on firms' operational characteristics (e.g., inventory salvage value and demand uncertainty) and how firms should make inventory stocking and capital structure decisions under asset-based borrowing constraints. Academic/practical relevance: Despite its widespread use...
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作者：Yu, Jiayi Joey; Tang, Christopher S.; Shen, Zuo-Jun Max
作者单位：Tsinghua University; University of California System; University of California Los Angeles; University of California System; University of California Berkeley; University of California System; University of California Berkeley
摘要：Most consumers in rural areas of many developing countries cannot afford to purchase certain livelihood improvement products such as home appliances. To improve consumer welfare and manufacturer profit, many governments launch different types of subsidy programs that offer subsidies to consumers, manufacturers, or both. Motivated by a subsidy program developed by the Chinese government in 2007, we present a parsimonious model to determine the optimal subsidy program in different settings so as...
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作者：Hu, Bin; Qi, Anyan
作者单位：University of Texas System; University of Texas Dallas
摘要：This paper investigates mechanisms by which a powerful original equipment manufacturers procures multiple inputs for assembly from suppliers with privately informed costs, either simultaneously or sequentially. The optimal mechanisms always lead to matching purchase quantities of the inputs. Thus, quantity-payment contracts that implement the optimal mechanisms are contingent across suppliers (i.e., each supplier's contract terms contain other suppliers' private costs as variables), making the...
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作者：Chu, Leon Yang; Li, Guang; Rusmevichientong, Paat
作者单位：University of Southern California; Queens University - Canada
摘要：Problem definition: This paper investigates firms' optimal operational decisions and after-tax profits with regard to tax deduction for charitable donations. Academic/practical relevance: Motivated by the steady growth in noncash donations from U.S. companies, our work is the first to provide theoretical guidance on operational planning under tax deduction for both precommitted donations and end-of-season donations. Methodology: We analyze the impact of tax deduction for a profit-driven firm u...
