Integrated microtransit services with chance-constrained dynamic pricing and...
The design of integrated mobility-on-demand services requires jointly considering the interactions between traveler choice behavior and operators' operation policies to design a financially sustainable...
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Why word of mouth works better for niche products and ideas
Imagine you learn about a concert through social media. You saw a friend post that she is excitedly planning to attend. How do you decide whether you want to go? Does it matter whether the concert is...
View ArticleRhetoric, Reality, and Reputation: Do CSR and Political Lobbying Protect...
We investigate whether firmsâ corporate social responsibility (CSR) reputations and environmental lobbying efforts protect shareholder wealth in the event of environmental lawsuits. Using a sample of...
View ArticleReal-Option Valuation in Multiple Dimensions Using Poisson Optional Stopping...
We provide a new framework for valuing multidimensional real options where opportunities to exercise the option are generated by an exogenous Poisson process, which can be viewed as a liquidity...
View ArticleVenture Capital Communities
Although venture capitalists (VCs) can choose from thousands of potential syndicate partners, many co-syndicate with small groups of preferred partners. We term these groups âVC communities.â We...
View ArticleAre Generalists Beneficial to Corporate Shareholders? Evidence from Exogenous...
This study finds a positive, economically meaningful impact of generalist chief executive officers (CEOs) on shareholder value using 164 sudden deaths and 345 non-sudden exogenous turnovers. The higher...
View ArticleGoogling Investor Sentiment around the World
We study how investor sentiment affects stock prices around the world. Relying on householdsâ Google search behavior, we construct a weekly measure of sentiment for 38 countries during 2004â2014....
View ArticleCompetition and Operating Volatilities around the World
Numerous papers have shown that developing economies are more volatile. We show that, despite greater aggregate and industry stability, performance and size of individual firms in developed countries...
View ArticleEmployee-Manager Alliances and Shareholder Returns from Acquisitions
We examine the potential for management-worker alliances when employees have substantial voting rights, and how such alliances affect the balance of power between managers and shareholders. We find...
View ArticleMedia Coverage and the Cost of Debt
This paper investigates the relation between media coverage and offering yield spreads using a comprehensive dataset of 5,338 industrial bonds issued from 1990 to 2011. We find that media coverage is...
View ArticleThe Real Effect of Smoking Bans: Evidence from Corporate Innovation
We identify a positive causal effect of healthy working environments on corporate innovation, using the staggered passage of U.S. state-level laws that ban smoking in workplaces. We find a significant...
View ArticleStock Return Asymmetry: Beyond Skewness
In this article, we propose two asymmetry measures for stock returns. Unlike the popular skewness measure, our measures are based on the distribution function of the data rather than just the third...
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