Inquiry into CSR as a human capital management tool has suggested that firms benefit from such activities because employees value the meaningfulness of these activities, which influences motivation and retention. We propose an alternate avenue through which firms can benefit from an important...

We study the impact of information disclosure policies on firm performance by exploiting a policy change that provides plausibly exogenous “shocks” to firms’ reputations based on their allocation to coarse performance categories. Medicare grades dialysis firms using three coarse...

Automotive manufacturers are known to use deadline-based convex incentives to motivate dealerships to sell new cars. This paper shows that dealerships respond to these incentive targets by pushing customers from used to new cars as the end of the month approaches, and that subprime loans written...

We study the impact of scarcity on intermediary profits through an analysis of the effects of the 2011 Japanese tsunami on the U.S. used car market. The tsunami devastated Japanese new car production for several months, which we show led to a demand surge for used cars. Wholesale and retail...

The ability to learn from experience is central to an organization’s performance. A set of qualitative management studies argues that learning from failure is the exception rather than the rule. Another literature, using econometric methods, finds strongly statistically - and economically -...