While it is recognized that the high degree of leverage used by financial institutions creates systemic risks and other negative externalities, many argue that financial institutions must rely on extensive debt financing since equity financing is "expensive." Some of the reasons debt is...

Companies constantly seek to enhance customer satisfaction by improving product or service features. Two methods are commonly used to assess customer priorities for product or service features from individual customers: ratings and constant-sum allocation. A common problem with the ratings...

We develop a unifying framework to integrate two of organizational sociology's theory fragments on categorization: typecasting and form emergence. Typecasting is a producer-level theory that considers the consequences producers face for specializing versus spanning across category boundaries....

We introduce a model in which firms trade goods via bilateral contracts which specify a buyer, a seller, and the terms of the exchange. This setting subsumes (many-to- many) matching with contracts, as well as supply chain matching. When firms' relationships do not exhibit a supply chain...

Although most of the research and public pressure concerning sustainability has been focused on the effects of business and organizational activity on the physical environment, companies and their management practices profoundly affect the human and social environment as well. This article...

This paper estimates a three-equation structural model based on a theory that relates corporate financial performance (CFP), corporate social performance (CSP), and social pressure. CFP is found to be independent of CSP and decreasing in social pressure, and CSP is independent of CFP and...

This study examines the use of performance-based incentives for internal monitors (general counsel and chief internal auditor) and whether these incentives impair monitors' independence by aligning their interests with the interests of those being monitored. We find evidence that incentives are...

We estimate advertising effects in the context of presidential elections. This setting overcomes many data challenges in previous advertising studies, while arguably providing one of the most interesting empirical settings to study advertising's effects. The four-year presidential election cycle...

We measure the revenue and cost implications to supermarkets of changing their price positioning strategy in oligopolistic downstream retail markets. Our estimates have implications for long-run market structure in the supermarket industry, and for measuring the sources of price rigidity in the...

New empirical models of consumer demand that incorporate social preferences, observational learning, word-of-mouth or network effects have the feature that the adoption of others in the reference group - the "installed-base" - has a causal effect on current adoption behavior. Estimation of such...