5/21/2018 — European economies are now dominated by services, and virtually all companies view service as critical to retaining their customers today and in the future. This European edition provides students with a complete introduction to the unique marketing challenges that services present. Guiding students to recognize and understand these special characteristics, the text also explores frameworks for developing and implementing service strategies for competitive advantage across a wide array of industries.

• KEYWORD(S):
• global business
• marketing

5/14/2018 — This article develops a case of economic development policy as an adaptive and improvisational process: effective policy is endogenous and the result of negotiations and power relationships.

• KEYWORD(S):
• economic development policy
• entrepreneurial ecosystems

5/11/2018 — Although the non-financial corporate sector accounts for the lion’s share of the post-Global Financial Crisis surge in emerging-market leverage, there is little systematic research on factors that impact corporate distress risk in emerging markets. Existing bankruptcy risk models developed using US data have low predictive power when applied to emerging market firms. We suggest that these models do not account for emerging market vulnerabilities to global shocks such as advanced economy monetary policy changes, US dollar movements, or shifts in global liquidity and risk-aversion.

• KEYWORD(S):
• asset pricing
• global business
• risk management

5/8/2018 — We develop a stylized model that captures two critical benefits of PF strategy: product personalization and postponement of product positioning. Our paper is the first to study these benefits and associated trade-offs and it sheds light on how a firm can benefit from adopting PF strategy.

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

5/7/2018 — We prove that in equilibrium, imposing or increasing a market-based undersupply penalty rate in a period can result in a strictly larger renewable energy commitment at all prices in the associated day-ahead market, and can lead to lower equilibrium reliability in all periods with probability 1. We also show in an extension that firms with diversified technologies result in lower equilibrium reliability than single-technology firms in all periods with probability 1.

• KEYWORD(S):
• economics
• operations
• technology

5/6/2018 — We use the GARCH-MIDAS model to extract the long- and short-term volatility components of cryptocurrencies. As potential drivers of Bitcoin volatility, we consider measures of volatility and risk in the US stock market as well as a measure of global economic activity. We find that S&P 500 realized volatility has a negative and highly significant effect on long-term Bitcoin volatility.

• KEYWORD(S):
• cryptocurrency

5/1/2018 — Previous research has used an ego depletion perspective to establish a self-regulatory model linking sleep deprivation to unethical behavior via depletion (Barnes, Schaubroeck, Huth, & Ghumman, 2011; Christian & Ellis, 2011; Welsh, Ellis, Christian, & Mai, 2014). We extend this research by moving beyond depletion to examine a more nuanced, process-based view of self-control.

• KEYWORD(S):
• ethics
• organizational behavior

5/1/2018 — We analyze and assess longitudinal data on startups from two data sources – the National Establishment Time-Series (NETS) database and the Secretary of State (SOS) business registry data. Our primary purposes in this paper are to assess the usefulness and reliability of these databases in measuring startup activity along several quality indicators and to explore the possibility of integrating these large databases using both automated and manual processes.

• KEYWORD(S):
• entrepreneurial ecosystems

5/1/2018 — Ballooning levels of societal inequality have led to a resurgence of interest in the economic causes and consequences of wealth disparity. What has drawn less attention in the scientific literature is how different levels of resource inequality influence what types of individuals emerge as leaders. In the current paper we take a distal approach to understanding the psychological consequences of inequality and the associated implications for leadership.

• KEYWORD(S):
• diversity
• economic development
• organizational behavior

5/1/2018 — Cardiovascular disease has become a leading cause of death for patients with paraplegia. Acute myocardial infarction in patients with paraplegia has not been described in the literature. This study investigates clinical features, management strategies, and outcomes of these patients.

• KEYWORD(S):
• healthcare

5/1/2018 — The use of celebrity endorsements varies across countries; does their effectiveness similarly vary across cultures? The authors propose that power distance beliefs (PDB), a cultural orientation related to the extent to which people expect and accept differences in power, moderate the effects of celebrity endorsements.

• KEYWORD(S):
• brands
• marketing

5/1/2018 — Private labels (PLs) represent a major opportunity for retailers, and a severe threat to brand manufacturers. However, considerable heterogeneity can be observed in PL growth rates across markets, creating ambiguity about their future growth potential. This poses a formidable challenge to both brands and retailers on how to allocate resources across different markets to prepare for the future.

• KEYWORD(S):
• global business
• marketing

4/23/2018 — This monograph introduces Management Accounting to Operations Management researchers and illustrates how unleashing this accounting information perspective into the world of Operations Management can improve our understanding of topics of interest to Operations Management researchers and practitioners.

• KEYWORD(S):
• accounting
• operations

4/18/2018 — The recent interest in learning from failure has led to repeated praise of failure as part of the innovation process. The challenges in detecting and terminating failing projects are, however, often underplayed. This study suggests that firms exhibit different propensities to terminate failing innovation projects, and this heterogeneity in part accounts for long-run performance differences between firms in industries with high rates of innovation. The study also investigates the organizational antecedents of a capability to terminate.

• KEYWORD(S):
• innovation
• organizational behavior

4/18/2018 — Universities are under tremendous pressure related to declining resources, flat enrollments, and increasing stakeholder demands. Strategic questions are surfacing related to resource allocation – how to connect investments to outcomes in an increasingly competitive and dynamic environment.

• KEYWORD(S):
• strategy and entrepreneurship

4/10/2018 — In this paper, we seek to better understand how executives can intelligently combine modular and integrated problem solving processes to form the best possible strategy in entrepreneurial environments. To do so, we compare the efficacy of strategies formed via different processes under various market conditions, exploring the sources of significant performance differences. We address this question using NK simulation methods.

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

4/2/2018 — Economic forecasting is a key ingredient of decision making both in the public and in the private sector. Because economic outcomes are the result of a vast, complex, dynamic and stochastic system, forecasting is very difficult and forecast errors are unavoidable. Because forecast precision and reliability can be enhanced by the use of proper econometric models and methods, this innovative book provides an overview of both theory and applications. Undergraduate and graduate students learning basic and advanced forecasting techniques will be able to build from strong foundations, and researchers in public and private institutions will have access to the most recent tools and insights

4/1/2018 — Research exploring investor reactions to sustainability has substantial empirical limitations, which we address with a large‐scale longitudinal financial event study of the first global sustainability index, DJSI World. The study highlights the importance of careful analysis and longitudinal global samples in making inferences about the financial effects of social performance.

• KEYWORD(S):
• corporate social responsibility
• global business
• impact investing

4/1/2018 — Conquering these youth challenges will get us a little closer to realizing Dr. King’s dream.

• KEYWORD(S):
• disruptive demographics
• inclusive development

4/1/2018 — We use data from a federally sponsored survey about teenagers' marijuana consumption in the United States. We find that, teenagers under predict future marijuana use and that this inaccuracy is moderated by the extent of use. We also find that misprediction is affected by both attitudes and the situation through main and interaction effects. We outline some policy implications of our findings.

• KEYWORD(S):
• data project
• economics
• marketing

3/31/2018 — Short selling is a risky business. Short sellers must identify mispriced securities, borrow shares in the equity lending market, postcollateral, and pay a loan fee each day until the position closes. In addition to the standard risks that many traders face, such as margin calls and regulatory changes, short sellers also face the risk of loan recalls and the risk of changing loan fees.

• KEYWORD(S):
• asset pricing
• finance
• risk management

3/30/2018 — This study, sponsored by the Frank Hawkins Kenan Institute of Private Enterprise and the Kenan-Flagler Energy Center, analyzes the economic cost of renewable energy’s ‘last frontier’, providing reliable baseload power. The analysis utilizes five financial and energy models to examine the cost of replacing baseload power with various energy sources to achieve fully decarbonized utility scale electricity generation.

• KEYWORD(S):
• economic development
• energy
• sustainability

3/30/2018 — We document that seasonal temperatures have significant and systematic effects on the U.S. economy, both at the aggregate level and across a wide cross-section of economic sectors. This effect is particularly strong for the summer: a 1F increase in the average summer temperature is associated with a reduction in the annual growth rate of state-level output of 0.15 to 0.25 percentage points. We combine our estimates with projected increases in seasonal temperatures and find that rising temperatures could reduce U.S. economic growth by up to one-third over the next century.

• KEYWORD(S):
• data project
• economic development
• economics
• sustainability

3/28/2018 — Most retailers operate under the assumption that stabilizing employees’ schedules would hurt their financial performance because instability is an inevitable outcome of variable demand patterns in retail stores. We tested the validity of this commonly held belief. The goal of our experiment was to determine if it is possible to improve schedule stability without hurting financial performance.

• KEYWORD(S):
• corporate finance
• strategy and entrepreneurship
• workforce development

3/20/2018 — Extant literature highlights the importance of specific choices such as pricing and particular strategieslike “get big fast” for strategy in two-sided markets. Yet it leaves open how executives form a viable strategy in entrepreneurial settings, particularly when buyers, sellers, and product may be uncertain. With an inductive case study of 8 two-sided marketplace ventures in multiple industries, we developa theoretical framework that describes how entrepreneurs address this challenge: by focusing on successive strategic domains, beginning with supply.

• KEYWORD(S):
• emerging markets
• organizational behavior
• strategy and entrepreneurship

3/19/2018 — We examine the effect of higher wages on firm performance during the 2008 financial crisis. To identify variation in wages, we rely on heterogeneity in the timing of long-term wage agreements for a sample of UK firms. We instrument for firms signing long-term agreements overlapping with the crisis by the presence of a contract signed in 2006 or earlier and expiring before September 2008.

• KEYWORD(S):
• workforce development

3/17/2018 — Consumer boycotts of products offer a unique context to understand the nature of consumer preferences and market dynamics. We focus on the 2012 nationwide boycott of Japanese products in China triggered by a territorial dispute and heavily influenced by historical animosity between citizens of the two countries.

• KEYWORD(S):
• global business
• operations

3/11/2018 — The New Oxford Handbook of Economic Geography is the most comprehensive and significant statement about the value and potential of economic geography in 2017. Sixty-six leading economists and geographers from around the world investigate the rival theories and perspectives that have sustained the development of economic geography. The Handbook also focuses on linkages, including those between inequality, instability, and sustainability in the global economy; economic behavior, strategies, and practices; mobility and creativity; resources and development; and distribution and consumption.

• KEYWORD(S):
• economic development policy
• entrepreneurial ecosystems
• global business
• inequality

3/10/2018 — This paper seeks to improve our understanding of how intermediaries operate to advance the commercialization of science by providing a set of specialized services. We review five intermediaries commonly mentioned in the ecosystem literature: university technology transfer and licensing offices; physical space (incubators, accelerators, and co-working spaces); professional services providers; networking, connecting, and assisting organizations; and finance providers (including venture capital, angel investors, public financing, and crowdfunding).

• KEYWORD(S):
• entrepreneurial ecosystems
• workforce development

3/10/2018 — Hard discounters are stores that sell a limited selection of consumer packaged goods and perishables - typically fewer than 2,000 Stock Keeping Units - for prices that are usually 50-60% lower than national brands. The best known hard discounters are Aldi and Lidl, but global brands include Trader Joe's, EuroSpin, Biedronka, Netto, and Leader Price. Their rise has been monumental; they have irrevocably changed the face of retail in Europe and Australia, and are making steady inroads into the US. Retail Disruptors explores the very real threat that hard discounters pose to traditional retailers and brand manufacturers.

• KEYWORD(S):
• brands
• marketing

3/9/2018 — As the digital revolution rages on, every business leader must become technology literate. This guide provides executives with an introduction to the technologies that are transforming our world.

• KEYWORD(S):
• innovation
• technology

3/7/2018 — Firms should disclose information on material cyber-attacks. However, because managers have incentives to withhold negative information, and investors cannot discover most cyber-attacks independently, firms may underreport them. Using data on cyber-attacks that firms voluntarily disclosed, and those that were withheld and later discovered by sources outside the firm, we estimate the extent to which firms withhold information on cyber-attacks.

• KEYWORD(S):
• accounting
• ethics
• management

3/1/2018 — On January 18 and 19, 2018, the Frank H. Kenan Institute of Private Enterprise (Kenan Institute) hosted its Frontiers of Entrepreneurship Research Conference at The Breakers Palm Beach Resort. The conference brought together more than 100 academic research scholars, policy experts and private sector professionals to discuss and debate the most challenging current issues in the field of entrepreneurship in order to set the agenda for future research and policy.

• KEYWORD(S):
• strategy and entrepreneurship

3/1/2018 — Suppliers are increasingly being forced by dominant retailers to clean up their supply chains. These retailers argue that their sustainability mandates may translate into profits for suppliers, but many suppliers are cynical about these mandates because the onus to undertake the required investments is on them while potential gains may be usurped by the mandating retailer.

• KEYWORD(S):
• marketing
• supply chain
• sustainability

3/1/2018 — In this paper, we develop a sociodemographic profile of the most vulnerable African American older adult households. To do so, we draw data from the 2011–15 American Community Survey, which contains linked housing and person records for a 5 percent sample of U.S. population. This dataset literally allows us to peer inside of African American older adult households and in the process identify the major barriers or obstacles to aging in place.

• KEYWORD(S):
• aging
• disruptive demographics
• race

3/1/2018 — American Community Survey data are used to develop typologies of the generational dynamics and living arrangements of the estimated 1.6 million African American older adult households who will likely encounter the most difficulty aging in place. Policy recommendations and strategies are offered to address the specific barriers and challenges that must be overcome in order for these older adults to successfully live out their lives in their homes and community.

• KEYWORD(S):
• aging
• disruptive demographics
• race

3/1/2018 — The current research explores the relationship between living abroad and self-concept clarity. We conducted six studies (N = 1,874) using different populations (online panels and MBA students), mixed methods (correlational and experimental), and complementary measures of self-concept clarity (self-report and self-other congruence through 360-degree ratings).

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

3/1/2018 — Crowdsourcing contests (also called innovation challenges, innovation contests, and inducement prize contests) can be used to solicit multisectoral feedback on health programs and design public health campaigns. They consist of organizing a steering committee, soliciting contributions, engaging the community, judging contributions, recognizing a subset of contributors, and sharing with the community.

• KEYWORD(S):
• crowdfunding
• ethics
• global business
• innovation

3/1/2018 — Using a dataset of 3,234 letters sent by 434 hedge funds to their investors during 1995–2011, we study what motivates hedge fund managers to make voluntary disclosures. Contrary to the hedge fund industry's reputation for opacity, we observe that managers provide their investors with an array of quantitative and qualitative information about fund returns, risk exposures, holdings, benchmarks, performance attribution, and future prospects.

• KEYWORD(S):
• finance
• hedge funds
• investments

3/1/2018 — By almost any measure, marketing academia is in a better shape than it has ever been. Job prospects for PhD students have improved substantially in recent years. According to the 2017 Marketing Academia Labor Report, there were 1.83 candidates per new assistant professor (“rookie”) position compared to 2.85 to 1 in 2010. Moreover, there are 37 open positions for advanced assistant professors with only 14 people looking for such positions. The median 12-month salary for entry-level positions is $190,000, up from $162,260 in 2010. Colleagues in the School of Arts & Sciences, as well as most people in the government or private sector, would gladly enjoy such opportunities.

• KEYWORD(S):
• marketing

3/1/2018 — Although subsidiary disclosures in firms’ filings with the Securities and Exchanges Commission (SEC; Exhibit 21) represent the most granular required public disclosure of a firm's geographic footprint, little is understood about the quality of the disclosure, and anecdotal evidence suggests firms may not fully comply with the disclosure requirements. We use data provided by multinational firms to the Internal Revenue Service regarding their foreign subsidiary locations to explore the accuracy of public subsidiary disclosures on Exhibit 21 of Form 10‐K per SEC rules.

• KEYWORD(S):
• global business
• international tax

2/26/2018 — Although both businessmen and scholars agree that the practice of corporate finance and corporate strategy should be closely coordinated and logically consistent, a large gap exists between the two functions. Although MBA programs routinely cover both subjects, they employ very different analytical and decision tools and the interaction between the two bodies of knowledge rarely receives the attention it deserves. The resulting Finance-Strategy gap can lead strategically oriented firms to de-emphasize or even discard classic finance techniques such as Net Present Value (NPV).

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

2/26/2018 — Goals and the performance feedback on those goals are fundamental to organizational learning and adaptation. However, most research has focused on single overall, high-level organizational goals, while ignoring important operational goals farther down in the goal hierarchy.

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

2/23/2018 — Private labels have become ever-more important and are slowly turning into brands of their own. Retailers increasingly offer three-level ‘good, better, best’ private-label programs that include economy, standard, and premium private-label tier goods. For each of these tiers, retailers must decide under what name to brand their private label.

• KEYWORD(S):
• brands
• marketing

2/21/2018 — In this paper, we study the role of point-of-sale (POS) marketing mix variables in explaining variation in brand shares (i) at different retail formats, and (ii) across national and store brands in different price tiers. Stores in different retail formats differ in their positioning, the clientele they attract, and types of shopping trips made to the store. Further, national and store brands in different price tiers differ in the quality perception, and the contracts between the retailer and the manufacturer.

• KEYWORD(S):
• global business
• marketing

2/15/2018 — This paper investigates the extent to which the expiration of a temporary tax law makes corporate earnings harder to predict and understand. Examining evidence from eight separate expirations of the R&D tax credit, I find that analysts’ forecast errors and abnormal volume increase surrounding quarterly earnings announcements for firms affected by the R&D tax credit.

• KEYWORD(S):
• federal tax

2/14/2018 — Since 2001, the number of one-quarter-ahead financial items forecasted by analysts and disseminated via FactSet and I/B/E/S data feeds has risen from 5 to 170+. We show that the income statement, cash flow statement, balance sheet, ratio/other, and KPI forecast surprises related to this dissemination are strongly associated with increases in the information content of earnings announcements.

• KEYWORD(S):
• accounting
• earnings

2/8/2018 — Sharing economy has risen rapidly in recent years, and it imposes several challenges for policy makers. This paper examines how a pioneer of sharing economy — Airbnb — affects local economy. Using venture capital infusions as plausibly exogenous shocks to Airbnb’s expansion into a new county, we find that Airbnb expansion leads to poorer hotel performance in the local county.

• KEYWORD(S):
• finance

2/7/2018 — We investigate Chinese firms’ use of variable interest entities (VIEs) to evade Chinese regulation on foreign ownership and list in the US. VIEs are explicitly designed to circumvent the intent of Chinese law on foreign control, and potentially exacerbate agency conflicts within the firm.

• KEYWORD(S):
• accounting
• global business

2/5/2018 — We propose a production-based general equilibrium model to study the link between timing of cash flows and expected returns both in the cross section of stocks and along the aggregate equity term structure.

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