Now showing items 21-30 of 45
Salience Games: Keeping Environmental Issues in (and Out) of the Public Eye
(2016-06)
Businesses and green activists seek to influence public attention to the social impacts of a sector -- they play salience games. An activist allocates funds between campaigning against a polluting industry and other ...
Who Sold During the Crash of 2008-9? Evidence from Tax-Return Data on Daily Sales of Stock
(2016-04)
We examine individual stock sales from 2008 to 2009 using population tax return data. The share of sales by the top 0.1 percent of income recipients and other top income groups rose sharply following the Lehman Brothers ...
A Causal Tree Approach for Personalized Health Care Outcome Analysis
(2016-12)
Using patient-level data from 35 hospitals for 6 cardiovascular surgeries in New York, we provide empirical evidence that outcome differences between health care providers are heterogeneous across different groups of ...
The Strategic Under-Reporting of Bank Risk
(2016-09)
We show that banks significantly under-report the risk in their trading book when they have lower equity capital. Specifically, a decrease in a bank's equity capital results in substantially more violations of its self-reported ...
Agency Costs and Strategic Speculation in the U.S. Stock Market
(2016-11)
This study shows theoretically and empirically that a firm's agency problems may affect its stock liquidity. We postulate that less uncertainty about suboptimal managerial effort may enhance liquidity provision -- by ...
Communicating About Climate Change with Corporate Leaders and Stakeholders
(2016-02)
Within the corporate sector, climate change represents an unfolding market shift; one that is driven by policy, but also by pressures from a variety of market constituents such as consumers, suppliers, buyers, insurance ...
Offshoring Production while Offshoring Pollution
(2016-11)
This paper introduces a firm-strategy perspective to the global combat against environmental pollution. We find that U.S. plants release less toxic emissions when their parent firm imports more from low-wage countries ...
Rising Prices under Declining Preferences: The Case of the U.S. Print Newspaper Industry
(2016-08)
Between 2006 and 2011, daily print newspapers in the U.S. lost 20% of their paid subscribers, partly due to increasing availability of alternative sources of news, such as free content provided on newspaper websites and ...
Manipulative Games of Gifts by Corporate Executives
(2016-02)
Executives use a variety of manipulative games to maximize the value of their gifts, including backdating, spring-loading, bullet-dodging and insider information. We find that executives exploit a legal loophole to backdate ...
The Role of Feedback in Dynamic Crowdsourcing Contests: A Structural Empirical Analysis
(2016-12)
In this paper, we empirically examine the impact of performance feedback on the outcome of crowdsourcing contests. We develop a dynamic structural model to capture the economic processes that drive contest participants' ...