1/1/2016 — The objective of this article is to promote discussions and educational efforts among Ph.D. students, scholars, referees, and editors in strategic management regarding the repeatability and cumulativeness of our statistical research knowledge.

• KEYWORD(S):
• knowledge management
• strategy and entrepreneurship

1/1/2016 — I develop an equilibrium theory of bank lending relationships in an economy subject to search frictions and limited enforceability. The model features a dynamic contracting problem embedded within a directed search equilibrium with aggregate and bank-specific uncertainty.

• KEYWORD(S):
• equity markets
• finance
• investments

1/1/2016 — Recent theory suggests that firms incorporate synergistic interrelationships among executives into optimal incentive design (Edmans et al. 2013). We focus on Pay Performance Sensitivities (PPS) and use dispersion in PPS across top executives as a proxy for the incentive design component shaped by an executive team’s synergy profile.

• KEYWORD(S):
• accounting
• management

1/1/2016 — Strategic alliances are undertaken to create value through complementarities of resources and capabilities of the partner firms. This paper uses a recently developed estimator of matching games, i.e., the maximum score estimator, to advance strategic management research on partner selection in strategic alliances, with a focus on the formation of research alliances in the biopharmaceutical industry.

• KEYWORD(S):
• innovation
• organizational behavior
• strategy and entrepreneurship

1/1/2016 — We empirically study the impact of the entry of a new theater on two important product decisions that incumbents in the movie exhibition industry face: (1) whether to invest in screening movies that are expected to be popular, and (2) when to adopt new releases. For theaters, both of these decisions feature a cost-demand trade-off inherent in quality decisions: Although screening popular and recent movies brings more patrons to the theater, distributors take a higher share of the revenue for such movies.

• KEYWORD(S):
• financial reporting
• marketing
• technology

12/20/2015 — We consider a firm that dynamically chooses its effort to develop a product for a network of customers represented by a connected graph. The technology of the product evolves as a real-valued stochastic process that depends on the firm’s dynamic efforts over time. In addition to dynamically choosing its development effort, the firm chooses when to launch or abandon the product.

• KEYWORD(S):
• emerging markets
• innovation
• operations
• technology

12/10/2015 — The practice of detailing in the marketing of prescription drugs is undergoing significant changes because of restrictions imposed by regulatory policy as well as by access restrictions placed by physicians. To analyze the strategic impact of these restrictions, we develop a structural model of how pharmaceutical firms compete dynamically to schedule detailing to physicians.

• KEYWORD(S):
• finance
• healthcare
• management
• marketing

12/3/2015 — This article examines what happens to firms that become affiliated with ‘dealmakers’—individuals who are unusually well connected in local social networks.

12/1/2015 — Accounting rules, through their interactions with capital regulations, affect financial institutions’ trading behavior. The insurance industry provides a laboratory to explore these interactions: life insurers have greater flexibility than property and casualty insurers to hold speculative-grade assets at historical cost, and the degree to which life insurers recognize market values differs across U.S. states. During the financial crisis, insurers facing a lesser degree of market value recognition are less likely to sell downgraded asset-backed securities. To improve their capital positions, these insurers disproportionately resort to gains trading, selectively selling otherwise unrelated bonds with high unrealized gains, transmitting shocks across markets.

• KEYWORD(S):
• accounting
• finance
• insurance

12/1/2015 — Much is known about the importance of dynamic capabilities. Yet, surprisingly little is known about how multiple dynamic capabilities might be developed in parallel, since most existing work explores a particular dynamic capability in isolation. Using rich quantitative and qualitative data on Dow Chemical's acquisitions, joint ventures, and divestitures over the past 20 years, we seek to address this gap. Besides contributing by adding fresh insights about managing growth and the utility of distributed practice, and by shedding light on positive and negative experience transfer, our core contribution is an emergent theoretical framework that develops the concept of “concurrent learning.

• KEYWORD(S):
• management
• organizational behavior
• strategy and entrepreneurship

12/1/2015 — This study examines whether the value a venture derives from an affiliation depends on its relative standing in the portfolio of all affiliations held by its partner. Relative standing refers to how the venture ranks among other ventures in the partner’s portfolio with respect to expected returns. The relative standing of a venture in its partner’s portfolio influences the venture’s access to the partner’s resources and the venture’s performance.

• KEYWORD(S):
• investments
• strategy and entrepreneurship

12/1/2015 — Using a survey of 393 employees who were natives and residents of China, Japan, and South Korea, we examined the extent to which employees from different countries within East Asia experience distributive justice when they perceived that their work outcomes relative to a referent other (i.e., someone with similar “inputs” such as educational background and/or job responsibilities) were (1) equally poor, (2) equally favorable, (3) more poor, or (4) more favorable.

• KEYWORD(S):
• global business
• organizational behavior

12/1/2015 — During retailer-initiated price wars (PWs), hundreds of brands are involved simultaneously, affecting brands’ and retailers’ positioning and ultimately making the performance outcome for individual brands difficult to predict. Likewise, the impact on brand performance after the PW, when prices are restored, is unclear.

• KEYWORD(S):
• marketing

12/1/2015 — We greatly expand the space of tractable term structure models (TTSM). We find that the early stages of a recession have distinct effects on yield volatility. Upon entering a recession when yields are far from the lower bound, (1) the volatility term structure becomes flatter, (2) the level and slope of yields are nearly uncorrelated, and (3) the second principle component of yields plays a larger role.

• KEYWORD(S):
• finance

11/30/2015 — The mobility of individual managers has long presented a problem for firms in knowledge-intensive industries. Shifting to more complex work often reduces the importance of a single individual’s knowledge for the firm’s exchange relationships because complex work requires inputs from a broader set of the firm’s members.

• KEYWORD(S):
• knowledge management
• marketing
• strategy and entrepreneurship

11/27/2015 — We produce novel empirical evidence on the relevance of output volatility (vol) shocks for both currency and international quantity dynamics.

• KEYWORD(S):
• economic development
• finance
• global business

11/24/2015 — This study presents a semi-parametric spatio-temporal regression model to understand how theater level differentiation affects the performance of independent and affiliate movie theaters. Independent movie theaters are privately owned and managed retail establishments, while affiliate theaters are managed by national-level chains such as AMC and Regal.

• KEYWORD(S):
• earnings
• economic development
• marketing

11/20/2015 — A risk-averse agent can sell claims to an asset of uncertain value to investors who have private information. When investors can choose how much information to acquire, the agent optimally issues information-sensitive securities in each market (e.g., debt and equity).

• KEYWORD(S):
• finance
• investments
• risk management

11/15/2015 — This paper starts by defining economic development and then considers the role of government, arguing that public policy should focus on building capacities that are beyond the ability of the market to provide.

• KEYWORD(S):
• economic development policy
• workforce development

11/1/2015 — Sexual health campaigns are often designed “top-down” by public health experts, failing to engage key populations. Using the power of crowdsourcing to shape a “bottom-up” approach, this note describes 2 creative contributory contests to enhance sexual health campaigns. We provide guidance for designing creative contributory contests to improve HIV and other sexually transmitted disease testing.

• KEYWORD(S):
• healthcare
• innovation
• strategy and entrepreneurship

11/1/2015 — We examine the economic determinants of short-sale supply, and its consequences for future stock returns. Lendable supply increases with expected borrowing costs and decreases with financial statement constructs that indicate overvaluation. Although rising loan fees help ease supply constraints, we find shares are still least available when they are most attractive to short sellers. Using a number of firm characteristics, we derive useful instruments for real-time loan supply and demand conditions in the lending market. Further, we show that (1) when lendable supply is binding (non-binding), short-sale supply (demand) is the main predictor of future stock returns, (2) abnormal returns to the short-side of nine well-known market anomalies are attributable solely to "special" stocks, and (3) loan fees significantly reduce the profitability of the short side and several of these anomalies cease to be profitable. Overall our evidence highlights the central role played by the supply of lendable shares in equity price formation and returns prediction.

• KEYWORD(S):
• finance
• investments
• supply chain

11/1/2015 — We provide empirical evidence for the existence, magnitude, and economic cost of stigma associated with banks borrowing from the Federal Reserve's Discount Window (DW) during the 2007-2008 financial crisis.

• KEYWORD(S):
• economic development policy

11/1/2015 — Innovative data sources offer new ways of studying spatial and temporal industrial and regional development. Our approach is to study the development of an entrepreneurial regional economy through a comprehensive analysis of its constituent firms and institutions over time.

• KEYWORD(S):
• entrepreneurial ecosystems

10/31/2015 — We examine the interplay of behavioral and environmental uncertainty in shaping the effectiveness of two key governance mechanisms used by strategic alliances: contractual and trust-based governance. We develop and test hypotheses, using a meta-analytic dataset encompassing over 15,000 strategic alliances across 82 independent samples. We find that contractual governance works best under low to moderate levels of behavioral uncertainty and moderate to high levels of environmental uncertainty, while it is detrimental to alliance performance when both types of uncertainty are low or high.

• KEYWORD(S):
• global business
• innovation
• marketing
• policy
• sustainability

10/8/2015 — Firms are increasingly launching initiatives with explicit social mandates. Often the business case for these initiatives is justified through one critical aspect of human capital management: employee retention. Although prior empirical studies have demonstrated a link between such corporate social initiatives and intermediate employee-related outcomes like motivation and identification with the firm, the relationship between employee participation in these initiatives and retention outcomes has not been investigated.

• KEYWORD(S):
• corporate social responsibility
• global business
• management
• operations
• strategy and entrepreneurship

10/1/2015 — We examine daily leader sleep as an antecedent to daily abusive supervisory behavior and work unit engagement. Drawing from ego depletion theory, our theoretical extension includes a serial mediation model of nightly sleep quantity and quality as predictors of abusive supervision.

• KEYWORD(S):
• management
• organizational behavior

10/1/2015 — This paper presents an empirical investigation of the effect of changes in capital gains tax rate on stock return volatility. We focus on two observable cross-sectional variations in the extent to which changes in capital gains tax rate affect return volatility — unrealized capital gains and dividend distributions.

• KEYWORD(S):
• accounting
• investments
• tax

10/1/2015 — The proliferation of smartphones has spawned a new industry – mobile apps. Managers increasingly recognize the potential for mobile commerce apps to “engage” customers and thereby grow sales. To measure this potential, this paper examines what drives customer usage of apps and whether app usage drives purchases in the online and offline channels.

• KEYWORD(S):
• marketing
• technology

10/1/2015 — In this paper, we provide a theoretical and empirical framework that allows us to synthesize and assess the burgeoning literature on CEO overconfidence. We also provide novel empirical evidence that overconfidence matters for corporate investment decisions in a framework that explicitly addresses the endogeneity of firms' financing constraints.

• KEYWORD(S):
• finance
• management
• organizational behavior
• strategy and entrepreneurship

9/25/2015 — Statistical control is widely used in correlational studies with the intent of providing more accurate estimates of relationships among variables, more conservative tests of hypotheses, or ruling out alternative explanations for empirical findings.

• KEYWORD(S):
• data project
• organizational behavior

9/18/2015 — The Hawthorne Effect is a prevalent observer effect that causes behavioral changes among participants of epidemiological studies or infection control interventions. The purpose of the review is to describe the origins of the Hawthorne Effect, to understand the term in relation to current scientific literature, to describe characteristics of the Hawthorne effect, and to discuss methods to quantify and overcome limitations associated with the Hawthorne Effect.

• KEYWORD(S):
• organizational behavior

9/11/2015 — The recent fiscal crisis in the EU and the slow-down of the BRICS countries have raised world-wide concerns about future global growth prospects. We examine the role of doubts about both local and foreign economic shocks by constructing an international endogenous growth model with technology diffusion across countries.

• KEYWORD(S):
• economic development
• finance
• global business

9/8/2015 — It may be possible to offer people a new understanding of their best-self concepts, leading to positive personal and social change. We developed theory about how best-self activation can lead to both immediate and long-term outcomes through recursion, interaction, and subjective construal between the self concept and the social system.

• KEYWORD(S):
• operations
• organizational behavior

9/3/2015 — This study asks whether investors learn differently from gains versus losses. I find experimental evidence that indicates that being in the negative domain leads individuals to form overly pessimistic beliefs about available investment options.

• KEYWORD(S):
• finance
• investments

9/1/2015 — Brand and innovation management have become increasingly important priorities for firms over the last few decades. Firms rely on strong brands and product innovations to gain competitive advantage and fuel growth.

• KEYWORD(S):
• innovation
• strategy and entrepreneurship

9/1/2015 — Over the past decade, a number of empirical studies and analytical models have contributed to our understanding of brand and innovation management. Although branding and innovation are both popular and fruitful areas of academic research, we suggest a more expansive discussion to consider the interrelationship between the two in greater detail.

• KEYWORD(S):
• innovation
• marketing
• strategy and entrepreneurship

9/1/2015 — We investigate the role of mindfulness as a regulatory factor by examining whether it mitigates the relationship between justice and retaliation. Drawing on theories of self-regulation, we integrate work on justice with emerging frameworks that identify mindfulness as an important work-related regulatory variable (Glomb, Duffy, Bono, & Yang, 2011).

• KEYWORD(S):
• ethics
• organizational behavior
• socioeconomics

9/1/2015 — We show that equity volatility serves as a determinant of future Treasury term-structure volatility over the recent October 1997 to June 2013 period. We find that equity volatility contains incrementally reliable information for the subsequent volatility of: (1) 10-year and 30-year bond futures returns, (2) the term-structure's level, and (3) the term-structure's slope.

• KEYWORD(S):
• finance
• investments
• risk management

9/1/2015 — Individuals tend to give losses approximately 2-fold the weight that they give gains. Such approximations of loss aversion (LA) are almost always measured in the stimulus domain of money, rather than objects or pictures. Recent work on preference-based decision-making with a schedule-less keypress task (relative preference theory, RPT) has provided a mathematical formulation for LA similar to that in prospect theory (PT), but makes no parametric assumptions in the computation of LA, uses a variable tied to communication theory (i.e., the Shannon entropy or information), and works readily with non-monetary stimuli.

• KEYWORD(S):
• finance

9/1/2015 — The current paper examines how asking for a report of units of work completed versus cost of the same work can influence overbilling. We suggest that something as simple as asking for a report of units of work completed (for instance, reporting either the time spent or number of units of work completed) as opposed to the cost of the work completed can drive different unethical behaviors.

• KEYWORD(S):
• ethics
• organizational behavior

9/1/2015 — Business-to-business electronic markets have emerged as robust, legitimate channels for conducting transactions, where firms participate in these markets according to their investments in the channel, such that they might participate as an expert, explorer, or passive firm.

• KEYWORD(S):
• marketing
• organizational behavior

9/1/2015 — The local levels of economies have felt the impact of technological change and globalization. These forces have triggered the need to understand the dynamic mechanisms that enable locales to respond to such changes. For example, the downsizing of traditional employers because of a major loss in market share due to new competitors, acquisition by global firms, or off-shoring of production or services was traditionally thought to be beyond the scope of powers of local policymakers, thinkers, and business leaders.

• KEYWORD(S):
• entrepreneurial ecosystems

9/1/2015 — With 45 states offering a range of SBIR Outreach and SBIR Match programs specifically designed to enhance the federal SBIR program, such programs provide a useful lens for examining the nature of the multilevel innovation policy mix.

• KEYWORD(S):
• economic development policy

9/1/2015 — Dissatisfaction with postdoctoral appointments is associated with demographics, career goals, types of research, postdoc-advisor interaction, and program quality. Rather than a simple inverse relationship to dissatisfaction, the effect of program quality depends on the postdoc’s autonomy to shape a research project, interaction with an advisor, and the advisor’s commercialization-related activities.

8/28/2015 — This paper examines how the international demand for luxury consumption affects the real estate market in global hotspots.

• KEYWORD(S):
• finance
• global business
• real estate

8/1/2015 — We explore the determinants of equity price risk of nonfinancial corporations. Operating and asset characteristics are by far the most important determinants of risk. For the median firm, financial risk accounts for only 15% of observed stock price volatility. Furthermore, financial risk has declined over the last 3 decades, indicating that any upward trend in equity volatility was driven entirely by economic risk factors. This explains why financial distress (as opposed to economic distress) was surprisingly uncommon in the nonfinancial sector during the 2007–2009 crisis even as measures of equity volatility reached unprecedented highs.

• KEYWORD(S):
• finance
• private equity
• risk management

8/1/2015 — We show that firms’ ability to avoid taxes is affected by the quality of their internal information environment, with lower effective tax rates (ETRs) for firms that have high internal information quality. The effect of internal information quality on tax avoidance is stronger for firms in which information is likely to play a more important role.

• KEYWORD(S):
• accounting
• tax

8/1/2015 — We examine data on capital-gains-tax-related information search to determine when and how taxpayers acquire information. We find seasonal increases in information search around tax deadlines, suggesting that taxpayers seek information to comply with tax law.

• KEYWORD(S):
• federal tax

8/1/2015 — The use of simulation methods is not very common in accounting research, even though several authors have pointed to the advantages these methods offer in addressing accounting research questions. In this position paper, I discuss the difficulties encountered when applying simulation methods in accounting research.

• KEYWORD(S):
• accounting

8/1/2015 — Does macroeconomic uncertainty increase or decrease aggregate growth and asset prices? To address this question, we decompose aggregate uncertainty into ‘good’ and ‘bad’ volatility components, associated with positive and negative innovations to macroeconomic growth.

• KEYWORD(S):
• economics
• finance