Past research has shown that founders bring important capabilities and resources from their prior employment into their new firms and that these intergenerational transfers influence the performance of these ventures. However, we know little about whether organizational practices also transfer from parents to spawns, and if so, what types of practices are transferred? Using a combination of survey and registrar data and through a detailed identification strategy, we examine these two previously unaddressed questions.
During the 2000s, over a dozen U.S. states passed laws that prohibit healthcare employers from mandating overtime for nurses. Using a nationwide panel data set from 2004 to 2012, we find that these mandatory overtime laws reduced the service quality of nursing homes, as measured by an increase in deficiency citations. This outcome can be explained by two undesirable changes in the staffing hours of registered nurses: decreased hours of permanent nurses and increased hours of contract nurses per resident day. We observe that the increase in deficiency citations concentrates in the domains of administration and quality of care rather than quality of life, and the severity levels of the increased citations tend to be minor rather than major.
We introduce a new framework that facilitates term structure modeling with both positive interest rates and flexible time-series dynamics but that is also tractable, meaning amenable to quick and robust estimation. Using both simulations and U.S. historical data, we compare our approach with benchmark Gaussian, stochastic volatility, and shadow rate models, where the latter enforces positive interest rates.
Application Programming Interface (APIs) have increasingly become crucial to digital ecosystems, facilitating interconnectivity and data exchange essential for digital transformation and open innovation in today's business landscape. In this article, we introduce a perspective on how APIs can be viewed as a means of achieving a dynamic equilibrium between centralization and decentralization for value creation in business ecosystems.
We examine the relationship between MIDAS regressions and the estimation of state space models applied to mixed frequency data. While in some cases the binding function is known, in general it is not, and therefore indirect inference is called for. The approach is appealing when we consider state space models which feature stochastic volatility, or other non-Gaussian and nonlinear settings where maximum likelihood methods require computationally demanding approximate filters.
We evaluate the performance of two popular systemic risk measures, CoVaR and SRISK, during eight financial panics in the era before FDIC insurance. Bank stock price and balance sheet data were not readily available for this time period. We rectify this shortcoming by constructing a novel dataset for the New York banking system before 1933.
Time series are demeaned when sample autocorrelation functions are computed. By the same logic it would seem appealing to remove seasonal means from seasonal time series before computing sample autocorrelation functions. Yet, standard practice is only to remove the overall mean and ignore the possibility of seasonal mean shifts in the data.
Using a novel data set from 75 stores of a department store retail chain that changed its incentive plan for store managers to spur greater cooperation among them and with the corporate office, we examine how incentives impact operational decisions and, consequently, store outcomes.
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.
Speed is often critical for successful commercialization of a new technology, and patents help entrepreneurs secure funding, enter the market, and avoid expropriation of their ideas. In this article, we employ a recent change to U.S. patent law—the introduction of an elective program accelerating patent examination—to investigate the role of patent examination speed in strategic entrepreneurship.
Soda taxes are an increasingly popular policy tool, used to discourage purchases of sugar-sweetened beverages. This study analyzes how marketing conduct and its effectiveness might change after soda tax introductions. Prior studies on the effect of soda taxes focus on price increases but neglect other, managerially relevant marketing conduct tools, such as promotional frequency, promotional discount depth, and feature promotion frequency. This study documents how the marketing conduct and its effectiveness changed with the introduction of the tax across more than 200 retail stores in five markets.
The increasingly large role played by financial intermediaries, such as venture capitalists and angels, in nurturing entrepreneurial firms and in promoting product market innovation has led to great research interest in the area of entrepreneurial finance and innovation.
The ways in which media news is slanted can shape beliefs about the economy, thereby affecting the decision to start a new business. Using exogenous variation in the introduction of Fox News Channel across US counties, I find that increased exposure to a pro-Republican slant during a Republican administration is positively associated with new firm creation.
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.
Times are tough for universities. Leaders on campus are facing more pressure than ever – strategic, operational, and financial. How do we manage our administrative functions efficiently to free up resources for our core dual mission of teaching and research?
Our briefing paper offers a perspective that centers on what we can reliably learn from the general direction of AI impacts on business change, rather than just speculate about. Only then can executives assess what AI points to for their firm’s development in its current and potential competitive ecosystem, leveraging its organization, technology and financial capabilities.
We consider the inventory management problem of a firm reacting to potential change points in demand, which we define as known epochs at which the demand distribution may (or may not) abruptly change. Motivating examples include global news events (e.g., the 9/11 terrorist attacks), local events (e.g., the opening of a nearby attraction), or internal events (e.g., a product redesign).
Workplace relationships are a cornerstone of management research. At the same time, there remain pressing calls for work relationships to be front and center in management literature, demanding an organizationally specific “relationship science.” This article addresses these calls by unifying multiple scholarly fields of interest to develop a comprehensive understanding of interpersonal workplace relationships.
How do cities attract mobile firms? The answer, frequently, involves beer. Dr. Maryann Feldman has recently published an editorial describing how cities are increasingly selling themselves on quality of life metrics, talent, and trendy amenities that appeal to young professionals. Responding to Amazon’s HQ2 contest, cities across the country listed breweries among their city’s assets while wooing the technology giant. The article is based on a paper that three of her students wrote under her guidance, and the inspirations for which evolved out of a seminar Dr. Feldman taught on science and technology policy.
Marketing Science contributes significantly to the development and validation of analytical tools with a wide range of applications in business, public policy and litigation support. The Handbook of Marketing Analytics showcases the analytical methods used in marketing and their high-impact real-life applications.