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作者：Shi, Yuan; Sampson, Rachelle C.; Goldfarb, Brent; Corredoira, Rafael A.
作者单位：Cornell University; University System of Maryland; University of Maryland College Park; Newcastle University - UK
摘要：We examine the link between short-term pressures and technologically significant innovation in U.S. public firms in 1997-2015. Using a market-based measure of shortterm pressure, we estimate its relationship with influential and novel patents. We find that firms facing more intense short-term pressures are less likely to patent highly influential or novel innovations. To evaluate whether this relationship is causal, we use changes in ownership styles following financial institution mergers as ...
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作者：Gil-Bazo, Javier; Imbet, Juan F.
作者单位：Pompeu Fabra University; Barcelona School of Economics; Pompeu Fabra University
摘要：We unveil asset managers' social media communications as a distinct new channel for attracting flows of money to mutual funds. Combining a database of more than 1.6 million posts on X/Twitter by U.S. mutual fund families with textual analysis, we find that flows of money to mutual funds respond positively to both the number and tone of the posts. Whereas the link between social media communications and flows of money is not explained by conventional marketing efforts, our findings suggest that...
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作者：D'acunto, Francesco; Weber, Michael; Xie, Tin
作者单位：Georgetown University; Purdue University System; Purdue University; National Bureau of Economic Research; Peking University Shenzhen Graduate School (PKU Shenzhen); Peking University
摘要：Direct experience of a peer's punishment might have a sobering effect above and beyond deterrence (information about punishments). We test this mechanism in China, studying the reactions to listed state-owned enterprises' (SOEs) punishments for fraudulent loan guarantees by firms in the same location (peers) and nonpeer firms across SOEs and non-SOEs. After experiencing SOEs' punishments, peer SOEs cut their loan guarantees by more than nonpeer SOEs and peer non-SOEs even if information and lo...
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作者：Almeida, Heitor; Huang, Ruidi; Liu, Ping; Xuan, Yuhai
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; National Bureau of Economic Research; Southern Methodist University; Purdue University System; Purdue University; University of California System; University of California Irvine
摘要：This article discusses how mandating employers to provide health insurance of a minimum quality and the associated increases in health insurance premia affect firm employment and performance. Using firm-level employee health insurance data around the passage of the Patient Protection and Affordable Care Act (PPACA), we show that the PPACA is associated with a significant increase in health insurance premia for employees in company-sponsored health insurance plans. In response, employers with g...
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作者：Fugener, Andreas; Walzner, Dominik D.; Gupta, Alok
作者单位：University of Cologne; University of Minnesota System; University of Minnesota Twin Cities
摘要：Humans will see significant changes in the future of work as collaboration with artificial intelligence (AI) will become commonplace. This work explores the benefits of AI in the setting of judgment tasks when it replaces humans (automation) and when it works with humans (augmentation). Through an analytical modeling framework, we show that the optimal use of AI for automation or augmentation depends on different types of human-AI complementarity. Our analysis demonstrates that the use of auto...
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作者：Levi, Retsef; Paulson, Elisabeth; Perakis, Georgia
作者单位：Massachusetts Institute of Technology (MIT); Harvard University
摘要：More than $60 billion per year in the United States is spent on policies aimed to increase fruit and vegetable (FV) consumption among low-income households. Many of these policy interventions are either monetary (e.g., financial incentives) or education related. The goal of this paper is to improve the performance of these interventions through a more strategic and personalized allocation of funds. This paper introduces a consumer behavioral model for grocery shopping decisions, which is neste...
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作者：Gilch, Alexandros; Lanz, Andreas; Muller, Philipp; Reich, Gregor; Wilms, Ole
作者单位：University of Bonn; University of Zurich; University of Hamburg; Tilburg 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 inclusion of an advertisement in this article, neither constitutes nor implies a guaran...
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作者：Ferreira, Petrus; Landsman, Wayne R.; Rountree, Brian
作者单位：Rice University; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：This study finds that the requirement of Accounting Standard Codification (ASC) 842 for firms to capitalize operating leases in financial statements beginning in 2019 resulted in firms affected by the standard reducing the reliance on existing debt (debt not associated with the capitalization of operating leases) by 7%-10% on average relative to unaffected firms. We find that firms with greater operating lease capitalization as a result of implementation of ASC 842 have the largest reductions ...
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作者：Xu, Yuqian; Dai, Hongyan; Yan, Wanfeng
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; Central University of Finance & Economics
摘要：Fueled by the widespread adoption of algorithms and artificial intelligence, the use of chatbots has become increasingly popular in various business contexts. In this paper, we study how to effectively and appropriately use voice chatbots, particularly by leveraging the two design features identity disclosure and anthropomorphism, and evaluate their impact on the firm operational performance. In collaboration with a large truck-sharing platform, we conducted a field experiment that randomly as...
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作者：Lourie, Ben; Shanthikumar, Devin M.; Shevlin, Terry; Zhu, Chenqi
作者单位：University of California System; University of California Irvine
摘要：We analyze the impact of the 2021 Child Tax Credit (CTC) expansion using detailed transaction data from nearly two million individuals and difference-in-difference analyses around monthly CTC payments. We find that recipients significantly increase their consumption in the week following the payment versus the prior week, with more pronounced effects for lower-income recipients and those with more children. We also find a significant reduction in liquidity constraints for lower-income recipien...
