This paper provides a theory of firm behavior motivated by moral duty, self-interest, and social pressure. A morally-managed and a self-interested firm compete in a market in which their corporate social performance (CSP) provides product differentiation. In addition to acting as consumers,...

We develop a model in which firms set their salary levels before matching with workers. Wages fall relative to any competitive equilibrium while profits rise almost as much, implying little inefficiency. Furthermore, the best firms gain the most from the system while wages become compressed. We...

In this study, we investigate the role of experience diversity on learning by U.S. airlines. Do firms learn more from diverse of homogeneous accident experiences? Existing literature provides conflicting answers to this question, with some theories suggesting that heterogeneous experiences are...

In this study we investigate the role played by managerial actions in explaining stock market returns and accounting earnings of 57 Internet firms engaged in Business-to-Business (B2B) e-commerce. We classify 3,166 managerial actions undertaken by our sample firms between the firm's IPO date and...

Experimental evidence suggests that people make time-inconsistent choices and display overconfidence about positive personal attributes. Do these features affect consumer behavior in the market? To address this question we use a new panel data set from three US health clubs with information on...

This paper uses daily fund flow data to examine the extent of late trading in the mutual fund industry. Using data from a 10-15 percent subsample of the industry, I find annual long-term shareholder losses due to late trading of about 5 basis points in international equity funds and 0.6 basis...

The authors argue that emotions characterized by certainty appraisals lead to heuristic information processing, while emotions characterized by uncertainty appraisals lead systematic information processing. The firs study demonstrated that participants who are induced to feel emotions...

This paper illustrates a practical framework for understanding and predicting political economy risk for project managers operating in a variety of developing country settings, including non-democracies, ethnically diverse environments and societies undergoing political transition. In doing so,...

Can combat experience foster organizational skills that engender political collective action? We use the arbitrary assignment of troops to frontline combat in World War II to identify the effect of combat experience on two channels that change local ethnic composition and future political...

When do people feel as if they are rich in time? Not often, research and daily experience suggest. However, three experiments showed that participants who felt awe, relative to other emotions, felt they had more time available (Experiments 1, 3) and were less impatient (Experiment 2)....