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作者：Brav, Alon; Dasgupta, Amil; Mathews, Richmond
作者单位：Duke University; National Bureau of Economic Research; European Corporate Governance Institute; University of London; London School Economics & Political Science; University System of Maryland; University of Maryland College Park
摘要：Blockholder monitoring is central to corporate governance, but blockholders large enough to exercise significant unilateral influence are rare. Mechanisms that enable moderately sized blockholders to exert collective influence are therefore important. Existing theory suggests that engagement by moderately sized blockholders is unlikely, especially when the blocks are held by delegated asset managers who have limited skin in the game. We present a model in whichmultiple delegated blockholders e...
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作者：Davis, Andrew M.; Hu, Bin; Hyndman, Kyle; Qi, Anyan
作者单位：Cornell University; University of Texas System; University of Texas Dallas
摘要：We study an original equipment manufacturer (OEM) purchasing two inputs for assembly from two suppliers with private cost information. The OEM can contract with the two suppliers either simultaneously or sequentially. We consider both cases in which the OEM has relatively equal bargaining power (the dynamic bargaining institution) or substantial bargaining power (the mechanism design institution). For the dynamic bargaining institution, we show that in sequential bargaining, the supply chain p...
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作者：Cong, Lin William; Howell, Sabrina T.
作者单位：Cornell University; New York University; National Bureau of Economic Research
摘要：Public equity is an important source of risk capital, especially in China. The Chinese government has occasionally suspended IPOs, exposing firms already approved to IPO to indeterminate listing delays. The temporary bar on going public increases uncertainty about access to public markets for affected firms. We show that suspension-induced delay reduces corporate innovation activity both during the delay and for years after listing. Negative effects on tangible investment and positive effects ...
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作者：Sun, Qi; Wu, Fang; Li, Shanjun; Grewal, Rajdeep
作者单位：Shanghai University of Finance & Economics; Cornell University; National Bureau of Economic Research; University of North Carolina; University of North Carolina Chapel Hill
摘要：Triggered by a territorial dispute as well as historical animosity, a nationwide civilian boycott of Japanese products took place in China in the summer of 2012. Using detailed data on vehicle sales in four major Chinese cities (Beijing, Tianjin, Shanghai, and Nanjing), this study investigates the impact of boycotts on sales and advertising effectiveness of products from different countries of origin. The boycott dramatically reduced the market share of Japanese brands and benefitted Chinese a...
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作者：Abhishek, Vibhanshu; Dogan, Mustafa; Jacquillat, Alexandre
作者单位：University of California System; University of California Irvine; Massachusetts Institute of Technology (MIT)
摘要：This paper optimizes dynamic pricing and real-time resource allocation policies for a platform facing nontransferable capacity, stochastic demand-capacity imbalances, and strategic customers with heterogenous price and time sensitivities. We characterize the optimal mechanism, which specifies a dynamic menu of prices and allocations. Service timing and pricing are used strategically to: (i) dynamically manage demand-capacity imbalances, and (ii) provide discriminated service levels. The balanc...
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作者：Alsabah, Humoud; Bernard, Benjamin; Capponi, Agostino; Iyengar, Garud; Sethuramana, Jay
作者单位：Columbia University; National Taiwan University
摘要：We develop a model of Coumot competition between capacity-constrained firms that sell a single good to multiple regions. We provide a novel characterization for the unique equilibrium allocation of the good across regions and design an algorithm to compute it. We show that a reduction in transportation costs by a firm may negatively impact the profit of all firms and reduce aggregate consumer surplus if such a firm is capacity constrained. Our results imply that policies promoting free trade m...
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作者：Amengual, Matthew; Apfelbaum, Evan P.
作者单位：University of Oxford; Boston University
摘要：When organizations want their employees to adopt behaviors that advance prosocial and instrumental aims, which motive should they express? A groundswell of recent work suggests that highlighting prosocial actions inspires and motivates employees. Building on this work, we embed a field experiment in the context of an organizational change initiative (Study 1). A large university sought to change the behavior of administrative employees who purchase office supplies, encouraging them to place or...
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作者：Zhang, Jianqiang; Li, Krista J.
作者单位：Jiangsu Normal University; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：Consumers experience a sense of loss when a product's quality does not match their expectations. To alleviate consumer loss aversion (CLA), firms can disclose information to reduce consumers' uncertainty about product quality and the resulting psychological loss. In this paper, we investigate the implications of CLA on firm profit, consumer surplus, and social welfare when firms endogenously make quality disclosure decisions. We find that CLA leads symmetric firms to disclose quality more ofte...
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作者：Blackburne, Terrence; Kepler, John D.; Quinn, Phillip J.; Taylor, Daniel
作者单位：Oregon State University; Stanford University; University of Washington; University of Washington Seattle; University of Pennsylvania
摘要：One of the hallmarks of the Security and Exchange Commision's (SEC's) investigative process is that it is shrouded in secrecy-only the SEC staff, high-level managers of the company being investigated, and outside counsel are typically aware of active investigations. We obtain novel data on all investigations closed by the SEC between 2000 and 2017-data that were heretofore nonpublic-and find that such investigations predict economically material declines in future firm performance. Despite evi...
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作者：Goycoolea, Marcos; Lamas, Patriclo; Pagnoncelli, Bernardo K.; Piazza, Adriana
作者单位：Universidad Adolfo Ibanez; Universidad de Chile
摘要：In 1964, Kenneth Lane proposed an algorithm to optimize the production schedule of a single-metal, single-processor open pit mine. For this, he proposed a policy based on varying, over time, the so-called cutoff grade-or grade threshold used to determine if extracted material should be ore (processed material) or waste (thrown away). Lane's algorithm had a profound impact on the mining industry. However, though it has been used in multiple commercial software systems and has traditionally been...
