Management Science

最新文章

• From the Editor-January 2023 AI翻译
  作者：Simchi-Levi, David
  作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
• The Impact of Trade Credit Provision on Retail Inventory: An Empirical Investigation Using Synthetic Controls AI翻译
  作者：Chen, Christopher J.; Jain, Nitish; Yang, S. Alex
  作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; University of London; London Business School
  摘要：Trade credit is an important source of short-term financing and an integrated part in supply contracts. Although a number of theories have been proposed on how trade credit could improve supply chain efficiency, causal studies on the impact of trade credit on operational decisions are scarce. In this study, we examine the impact of trade credit on inventory decisions using an empirical strategy that leverages (i) an exogenous shock imparted by the French government's intervention to impose a c...
• Multidimensional Targeting and Consumer Response AI翻译
  作者：Despotakis, Stylianos; Yu, Jungju
  作者单位：City University of Hong Kong; Korea Advanced Institute of Science & Technology (KAIST)
  摘要：Advancements in targeting technology have allowed firms to engage in more precise targeting based on several aspects of consumers' preferences. Exposed to more targeted ads, consumers are becoming increasingly aware of being targeted and respond accordingly. This paper provides a theoretical analysis of multidimensional targeting under which consumers can draw inferences about multiple components of their utility from the advertised product. We show that the firm can be worse off under multidi...
• Flight to Earnings: The Role of Earnings in Periods of Capital Scarcity AI翻译
  作者：Guest, Nick; Kothari, S. P.; So, Eric
  作者单位：Cornell University; Massachusetts Institute of Technology (MIT)
  摘要：We examine the link between the scarcity of arbitrage capital and investors' response to firms' earnings information. The cost of financing levered investment strategies (i.e., investing with borrowed funds) increases in the risk profile of the securities being traded. As a result, when capital is scarce, levered traders face heightened incentives to tilt their portfolios in the direction of firms' earnings information as an indicator of lesser risk because doing so mitigates financing constra...
• Leadership and Productivity: A Study of US Automobile Assembly Plants AI翻译
  作者：Giardili, Soledad; Ramdas, Kamalini; Williamsc, Jonathan W.
  作者单位：University of Edinburgh; University of London; London Business School; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
  摘要：We examine the effect of plant managers on productivity using unique matched manager-plant panel data on U.S. auto-assembly plants during 1993-2007. Our econometric approach is two-pronged. Our first approach relies on using the panel nature of our data to measure variation in productivity due to managerial influence. We estimate the interquartile range of the effect of individual plant managers on average hours-per vehicle to be about 30%. Further, we find that plant managers' experience with...
• Endogenizing Discretion in Disclosures AI翻译
  作者：Arya, Anil; Ramanan, Ram N. V.
  作者单位：University System of Ohio; Ohio State University; State University of New York (SUNY) System; Binghamton University, SUNY; Indian School of Business (ISB)
  摘要：A firm's publicly available information reflects ex ante committed information releases and ex post discretionary disclosures. In a setting wherein a firm's CEO is concerned with stock market valuation and confrontations with the employee union, this paper endogenizes when the CEO retains ex post disclosure discretion and when the CEO curtails discretion, opting instead to ex ante commit to not gathering information or publicly disclosing information. The underlying economic forces entail a tr...
• Active Learning for Contextual Search with Binary Feedback AI翻译
  作者：Chen, Xi; Liu, Quanquan; Wang, Yining
  作者单位：New York University; University of Texas System; University of Texas Dallas
  摘要：In this paper, we study the learning problemin contextual search, which ismotivated by applications such as crowdsourcing and personalized medicine experiments. In particular, for a sequence of arriving context vectors, with each context associated with an underlying value, the decision maker either makes a query at a certain point or skips the context. The decision maker will only observe the binary feedback on the relationship between the query point and the value associated with the context...
• Lost Marie Curies: Parental Impact on the Probability of Becoming an Inventor AI翻译
  作者：Hoisl, Karin; Kongsted, Hans Christian; Marianid, Myriam
  作者单位：University of Mannheim; Copenhagen Business School; Bocconi University; Bocconi University
  摘要：This research investigates the role of parents in explaining the surprisingly low presence of women among inventors despite their increase among graduates from science, technology, engineering and mathematics (STEM) subjects. With Danish registry data on the population born between 1966 and 1985 and an experimental setting crafted on siblings' gender composition, we find that the transmission of inventorship fromparents to children disfavors daughters if they have a (second-born) brother. We c...
• How Return on Investment and Residual Income Performance Measures and Risk Preferences Affect Risk-Taking AI翻译
  作者：Brown, Jason L.; Martin, Patrick R.; Sprinkle, Geoffrey B.; Way, Dan
  作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Clemson University
  摘要：Return on investment (ROI) and residual income (RI) are two important accounting measures that are commonly used to evaluate managers' performance, and evidence suggests that both ROI and RI can help motivate long-term investments. Research is limited, though, regarding whether ROI and RI differentially affect managers' actions, and, more specifically, research has not examined the effects of ROI and RI on risk-taking. We conduct an experiment to examine the separate and interactive effects of...
• Machine-Learning-Based Return Predictors and the Spanning Controversy in Macro-Finance AI翻译
  作者：Huang, Jing-Zhi; Shi, Zhan
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Tsinghua University
  摘要：We propose a two-step machine learning algorithm-the Supervised Adaptive Group LASSO (SAGLasso) method-that is suitable for constructing parsimonious return predictors from a large set of macro variables. We apply this method to government bonds and a set of 917 macro variables and construct a new, transparent, and easy-to-interpret macro variable with significant out-of-sample predictive power for excess bond returns. This new macro factor, termed the SAGLasso factor, is a linear combination ...