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An Empirical Investigation of the Competitive Effects of Domestic Airline Alliances
Bamberger, Gustavo E. - 2001
pairs affected by the alliances. We also find that these effects are found both on city pairs where the alliance created one … or two new online carriers, and on city pairs where the alliance increased the service offered by one or both alliance … partners. Finally, we find that the size of the fare effect of the alliance depends on the pre-alliance level of competition on …
Persistent link: https://www.econbiz.de/10012470529
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The Control of Strategic Alliances : An Empirical Analysis of Biotechnology Collaborations
Lerner, Josh - 1997
In this paper, we examine the determinants of control rights in technology strategic alliances between biotechnology firms and pharmaceutical corporations, as well as with other biotechnology firms. We undertake three clinical studies and an empirical analysis of 200 contracts. Consistent with...
Persistent link: https://www.econbiz.de/10012472804
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Productivity in Pharmaceutical Biotechnology R&D : The Role of Experience and Alliances
Danzon, Patricia Munch - 2003
developed in an alliance tend to have a higher probability of success, at least for the more complex phase 2 and phase 3 trials …
Persistent link: https://www.econbiz.de/10012469083
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Biotech-Pharmaceutical Alliances as a Signal of Asset and Firm Quality
Nicholson, Sean - 2002
rational; a biotechnology company that is developing its first product benefits from forming an alliance with a pharmaceutical …
Persistent link: https://www.econbiz.de/10012469706
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Unexploited gains from international diversification : patterns of portfolio holdings around the world
Didier, Tatiana - 2011
"This paper studies how portfolios with a global investment scope are actually allocated internationally using a unique micro dataset on U.S. equity mutual funds. While mutual funds have great flexibility to invest globally, they invest in a surprisingly limited number of stocks, around 100. The...
Persistent link: https://www.econbiz.de/10011394818
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Asset Pricing with Panel Tree Under Global Split Criteria
Cong, Lin William; Feng, Guanhao; He, Jingyu; He, Xin - National Bureau of Economic Research - 2022
We develop a new class of tree-based models (P-Tree) for analyzing (unbalanced) panel data utilizing global (instead of local) split criteria that incorporate economic guidance to guard against overfitting while preserving interpretability. We grow a P-Tree top-down to split the cross section of...
Persistent link: https://www.econbiz.de/10013477297
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Machine Forecast Disagreement
Bali, Turan G.; Kelly, Bryan T.; Mörke, Mathis; … - National Bureau of Economic Research - 2023
We propose a statistical model of differences in beliefs in which heterogeneous investors are represented as different machine learning model specifications. Each investor forms return forecasts from their own specific model using data inputs that are available to all investors. We measure...
Persistent link: https://www.econbiz.de/10014337816
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Portfolio Management in Private Equity
Brown, Gregory W.; Fei, Celine Yue; Robinson, David T. - National Bureau of Economic Research - 2023
General Partners (GPs) in private equity face a trade-off between focusing their skills and effort on fewer investments to earn higher returns, or investing more broadly to reduce risk through diversification. Using a novel, deal-level dataset of 5,925 global investments from 1999 to 2016, we...
Persistent link: https://www.econbiz.de/10014372421
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Selection into Financial Education and Effects on Portfolio Choice
Gemmo, Irina; Michaud, Pierre-Carl; Mitchell, Olivia S. - National Bureau of Economic Research - 2023
To examine how financial education affects financial outcomes, one must evaluate whether and how sample selection may bias inferences regarding program impacts. Our incentivized experiment reveals how such selection influences estimated financial education effects. The more financially literate...
Persistent link: https://www.econbiz.de/10014372439
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Forward Return Expectations
Gandhi, Mihir; Gormsen, Niels; Lazarus, Eben - National Bureau of Economic Research - 2023
We measure investors' short- and long-term stock-return expectations using both options and survey data. These expectations at different horizons reveal what investors think their own short-term expectations will be in the future, or forward return expectations. While contemporaneous short-term...
Persistent link: https://www.econbiz.de/10014372444