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作者：Gathergood, John; Sakaguchi, Hiroaki; Stewart, Neil; Weber, Joerg
作者单位：University of Nottingham; University of Nottingham; University of Warwick; University of Warwick; University of Exeter
摘要：Using data from multiple card issuers, we show that the most common penalty fee type incurred by credit card holders, late payment fees, declines sharply over the first few months of card life. This phenomenon is wholly due to some consumers adopting automatic payments after a late payment event, thereby insuring themselves against future late payment fees. Nonadopters, who remain on manual-only payments, experience an unchanged high likelihood of future fees, despite exhibiting ample levels o...
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作者：Zambrana, Rafael
作者单位：University of Notre Dame
摘要：This paper provides evidence that stock returns of a financial conglomerate are affected by how successful certain funds of its asset-management division are. The results indicate a spillover effect between management companies with top-performing funds and the stocks of the parent firm. I find that the presence of star funds affects stock returns in ways consistent with investor attention, suggesting that the boost in returns is due not only to an increase in fee revenues accruing to the fund...
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作者：Espinosa, Miguel
作者单位：Pompeu Fabra University
摘要：What are the determinants of in-house employment versus outsourcing in the service sector? I use detailed data on U.S. lobbying services to answer this question. I argue with a series of correlational exercises that firms tend to outsource lobbying tasks that demand a large amount of general skills, whereas they are more likely to assign firm specific tasks to in-house lobbyists. I provide causal evidence that the need to do tasks that vary in their general skill component leads to a change in...
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作者：Ferreira, Kris Johnson; Goh, Joel
作者单位：Harvard University; National University of Singapore
摘要：Assortment rotation-the retailing practice of changing the assortment of products offered to customers-has recently been used as a competitive advantage for both brick-and-mortar and online retailers. We focus on product categories where consumers may purchase multiple products during a season and investigate a new reason why frequent assortment rotations can be valuable to a retailer. Namely, by distributing its seasonal catalog of products over multiple assortments rotated throughout the sea...
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作者：Atanasov, Vladimir; Black, Bernard
作者单位：Northwestern University; Northwestern University
摘要：Credible causal inference in accounting and finance research often comes from natural experiments. These experiments can be exploited using several shock-based research designs, including difference in differences (DID), shock-based instrumental variable (shock-IV), and regression discontinuity. We study here shock-IV designs using panel data. We identify all shock-IV papers in two broad data sets and reexamine three of the apparently strongest papers-Desai and Dharmapala [Desai M, Dharmapala ...
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作者：Beattie, Graham; Durante, Ruben; Knight, Brian; Sen, Ananya
作者单位：Loyola Marymount University; Barcelona School of Economics; Pompeu Fabra University; ICREA; Brown University; National Bureau of Economic Research; Carnegie Mellon University
摘要：Do mass media bias content in favor of advertisers? If so, what market conditions limit or exacerbate this bias? We examine the relationship between advertising by auto manufacturers in U.S. newspapers and news coverage of car safety recalls between 2000 and 2014. This context allows us to separate the influence of advertisers, who prefer less coverage, from that of readers, who prefer more information about the safety risks associated with the recalls. Consistent with theoretical predictions,...
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作者：Chu, Junhong; Duan, Yige; Yang, Xianling; Wang, Li
作者单位：National University of Singapore; University of British Columbia
摘要：Dockless bike sharing provides a convenient and affordable means of transport for urban residents. It solves the last-mile problem in public transport by reducing the travel cost between home and subway stations and thus increasing the attractiveness of distant apartments. This may affect the relationship between housing price and distance to subway and reduce the price premium enjoyed by proximate apartments. Using resale apartment data in 10 major cities in China, a difference-in-differences...
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作者：Lian, Zhen; van Ryzin, Garrett
作者单位：Cornell University; Cornell University
摘要：This article may be used only for the purposes of research, teaching, and/or private study. Commercial use or systematic downloading (by robots or other automatic processes) is prohibited without explicit Publisher approval, unless otherwise noted. For more information, contact permissions@informs.org. The Publisher does not warrant or guarantee the article's accuracy, completeness, merchantability, fitness for a particular purpose, or non-infringement. Descriptions of, or references to, produ...
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作者：Manthei, Kathrin; Sliwka, Dirk; Vogelsang, Timo
作者单位：University of Cologne; Frankfurt School Finance & Management
摘要：We report the results of two field experiments in a retail chain and show that the effectiveness of performance pay crucially hinges on prior job experience. Introducing sales-based performance pay first for district managers and later for store managers, we find negligible average treatment effects. From surveys and interviews, we develop a formal model demonstrating that the effect of performance pay decreases with experience and may even vanish in the limit. We provide empirical evidence in...
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作者：Wang, Yining; Chen, Boxiao; Simchi-Levi, David
作者单位：State University System of Florida; University of Florida; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：We consider a single product dynamic pricing with demand learning. The candidate prices belong to a wide range of a price interval; the modeling of the demand functions is nonparametric in nature, imposing only smoothness regularity conditions. One important aspect of our model is the possibility of the expected reward function to be nonconcave and indeed multimodal, which leads to many conceptual and technical challenges. Our proposed algorithm is inspired by both the Upper-Confidence-Bound a...
