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...

We study the evolution of industries in terms of three interrelated key themes that together form an analytical lens. The first theme--strategy and strategic dynamics--raises the question of how companies can gain, sustain, or regain profitable growth in the face of various types of strategic...

The central argument for increasing the number of women on corporate boards of directors has been the so-called "business case for diversity" which proposes that women and minorities add valuable new perspectives that result in enhanced corporate performance. Unfortunately, the empirical...

This paper explores how the quality of information available to voters influences the choices they make in the polling booth and in turn affects the strategies of political parties competing for their support. To do so, the paper builds a model of redistributive politics under asymmetric...

This study examines the effects of shareholder support for equity compensation plans on subsequent chief executive officer (CEO) compensation. Using cross-sectional regression, instrumental variable, and regression discontinuity research designs, we find little evidence that either lower...

Although a substantial amount of research has examined the constructs of warmth and competence, far less has examined how these constructs develop and what benefits may accrue when warmth and competence are cultivated. Yet there are positive consequences, both emotional and behavioral, that are...