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  • 1
    Online Resource
    Online Resource
    Is “accredited crowdfunding” a lemons market? Evidence from 506(c) filings
    Informa UK Limited ; 2021
    In:  Journal of Small Business Management Vol. 59, No. 2 ( 2021-03-04), p. 312-336
    Details
    In: Journal of Small Business Management, Informa UK Limited, Vol. 59, No. 2 ( 2021-03-04), p. 312-336
    Type of Medium: Online Resource
    ISSN: 0047-2778 , 1540-627X
    URL: Article
    DOI: 10.1080/00472778.2020.1849715
    RVK:
    QP 310
    Language: English
    Publisher: Informa UK Limited
    Publication Date: 2021
    detail.hit.zdb_id: 2046010-7
    detail.hit.zdb_id: 860752-7
    SSG: 3,2
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  • 2
    Online Resource
    Online Resource
    Tie Strength, Embeddedness, and Social Influence: A Large-Scale Networked Experiment
    Institute for Operations Research and the Management Sciences (INFORMS) ; 2014
    In:  Management Science Vol. 60, No. 6 ( 2014-06), p. 1352-1370
    Details
    In: Management Science, Institute for Operations Research and the Management Sciences (INFORMS), Vol. 60, No. 6 ( 2014-06), p. 1352-1370
    Abstract: We leverage the newly emerging business analytical capability to rapidly deploy and iterate large-scale, microlevel, in vivo randomized experiments to understand how social influence in networks impacts consumer demand. Understanding peer influence is critical to estimating product demand and diffusion, creating effective viral marketing, and designing “network interventions” to promote positive social change. But several statistical challenges make it difficult to econometrically identify peer influence in networks. Though some recent studies use experiments to identify influence, they have not investigated the social or structural conditions under which influence is strongest. By randomly manipulating messages sent by adopters of a Facebook application to their 1.3 million peers, we identify the moderating effect of tie strength and structural embeddedness on the strength of peer influence. We find that both embeddedness and tie strength increase influence. However, the amount of physical interaction between friends, measured by coappearance in photos, does not have an effect. This work presents some of the first large-scale in vivo experimental evidence investigating the social and structural moderators of peer influence in networks. The methods and results could enable more effective marketing strategies and social policy built around a new understanding of how social structure and peer influence spread behaviors in society. This paper was accepted by Alok Gupta, special issue on business analytics.
    Type of Medium: Online Resource
    ISSN: 0025-1909 , 1526-5501
    URL: Article
    DOI: 10.1287/mnsc.2014.1936
    RVK:
    QP 300
    Language: English
    Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
    Publication Date: 2014
    detail.hit.zdb_id: 206345-1
    detail.hit.zdb_id: 2023019-9
    SSG: 3,2
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  • 3
    Online Resource
    Online Resource
    Managing Capital Market Frictions via Cost-Reduction Investments
    Institute for Operations Research and the Management Sciences (INFORMS) ; 2021
    In:  Manufacturing & Service Operations Management Vol. 23, No. 1 ( 2021-01), p. 88-105
    Details
    In: Manufacturing & Service Operations Management, Institute for Operations Research and the Management Sciences (INFORMS), Vol. 23, No. 1 ( 2021-01), p. 88-105
    Abstract: Problem definition: We examine how the presence of capital market frictions influences the decision to invest in production cost reduction and the resultant production volume. This investment can increase the firm’s cash flow by increasing the profit margin, but it can also decrease the firm’s risk-free cash reserves and thus affect its exposure to capital market frictions. Academic/practical relevance: Process improvement aimed at production cost reduction has generated myriad of theoretical questions about efficient investment options and capacity choices. From a managerial perspective, process improvement is a fundamental concern in operations strategy. Nevertheless, its analysis typically excludes financial constraints by assuming a perfect capital market. Methodology: We formulate a two-stage profit maximization model in which a capital-constrained firm commits to a cost-reduction investment in the first stage in anticipation of its production decision in the second stage of this two-stage decision process. The firm considers capital market frictions when making decisions at each stage, while considering uncertainty in demand for its offering and in reducing its unit production cost. Results: When a firm faces small initial capital and low preinvestment unit production costs, it can benefit from investing in production cost reduction in the presence of capital market frictions more so than in their absence. Moreover, uncertainty in the production cost reduction mitigates the impact of market frictions on the net benefit (i.e., additional profit), whereas demand uncertainty decreases the feasible parameter space, where investing in production cost reduction is optimal. Managerial implications: A firm’s decision to invest in production cost reduction affects its operational and financial capabilities. Managers should thus consider this investment as an operational hedge not only against the uncertainty of matching supply and demand but also against exposure to capital market frictions and the resultant financial risk.
    Type of Medium: Online Resource
    ISSN: 1523-4614 , 1526-5498
    URL: Article
    DOI: 10.1287/msom.2019.0814
    RVK:
    QA 10000
    Language: English
    Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
    Publication Date: 2021
    detail.hit.zdb_id: 2023273-1
    SSG: 3,2
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  • 4
    Online Resource
    Online Resource
    S&L performance persistence, moral hazard and market discipline
    Emerald ; 2004
    In:  Managerial Finance Vol. 30, No. 9 ( 2004-09-01), p. 56-69
    Details
    In: Managerial Finance, Emerald, Vol. 30, No. 9 ( 2004-09-01), p. 56-69
    Abstract: While prior research finds evidence of significant performance persistence in banking, the issue of the determinants of such persistence has rarely been examined. In light of a liberalized thrift takeover market, this study tests for persistence and then attempts to identify its determinants for U.S. thrifts operating during 1989 to 1994. A moral hazard hypothesis for losing persistence is examined, as well as the effectiveness of the takeover market in disciplining persistent losers. Results indicate significant performance persistence, with firms in the sample 16 times more likely to remain in an initial position as a winner, or loser, than to switch. Consistent with moral hazard, persistent losers exhibit low charter values and greater risk‐taking behavior, with the opposite relations for persistent winners. Finally, and perhaps most importantly, persistent losers generally had a significantly higher probability of subsequent takeover, indicating the effectiveness of the takeover market in disciplining poor performers.
    Type of Medium: Online Resource
    ISSN: 0307-4358
    URL: Article
    DOI: 10.1108/03074350410769272
    RVK:
    QA 10000
    Language: English
    Publisher: Emerald
    Publication Date: 2004
    detail.hit.zdb_id: 2047612-7
    SSG: 3,2
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  • 5
    Online Resource
    Online Resource
    Sequential Product Development and Introduction by Cash-Constrained Start-Ups
    Institute for Operations Research and the Management Sciences (INFORMS) ; 2021
    In:  Manufacturing & Service Operations Management Vol. 23, No. 6 ( 2021-11), p. 1505-1523
    Details
    In: Manufacturing & Service Operations Management, Institute for Operations Research and the Management Sciences (INFORMS), Vol. 23, No. 6 ( 2021-11), p. 1505-1523
    Abstract: Problem definition: Firms developing novel and innovative products regularly face a canonical product development and introduction problem: introduce a proven and immediately available product or delay product introduction until the successful development of an advanced version. Academic/practical relevance: Limited access to resources for the development of an advanced version adds another wrinkle to this problem, particularly for cash-constrained start-ups. For such start-ups, the introduction of an on-hand product can generate additional funds to support the development of an advanced product. However, the lower performance of the on-hand product can negatively impact the perception of the firm’s future products and lower future profitability. Methodology: We study the trade-off between revenues that an on-hand product generates for research and development funding and the negative effect it has on future profits. We characterize the optimal introduction timing of the on-hand product as a function of the financial resource constraints, the interdependence between these sequential products and the cost of development. Results: We identify important differences between the optimal product introduction strategies of a start-up and an established firm. Specifically, although it is always optimal for an established firm to accelerate the launch of a better-quality on-hand product, a start-up might find it optimal to delay its launch. The impact of technological failure and different forms of learning on the optimal strategy of the start-up are also explored. We translate our analytical findings into a managerial framework and illustrate these results using examples from the pharmaceutical and medical devices industries.
    Type of Medium: Online Resource
    ISSN: 1523-4614 , 1526-5498
    URL: Article
    DOI: 10.1287/msom.2020.0895
    RVK:
    QA 10000
    Language: English
    Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
    Publication Date: 2021
    detail.hit.zdb_id: 2023273-1
    SSG: 3,2
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  • 6
    Online Resource
    Online Resource
    Revenue Management vs. Newsvendor Decisions: Does Behavioral Response Mirror Normative Equivalence?
    Wiley ; 2015
    In:  Production and Operations Management Vol. 24, No. 5 ( 2015-05), p. 750-761
    Details
    In: Production and Operations Management, Wiley, Vol. 24, No. 5 ( 2015-05), p. 750-761
    Abstract: We study and compare decision‐making behavior under the newsvendor and the two‐class revenue management models, in an experimental setting. We observe that, under both problems, decision makers deviate significantly from normative benchmarks. Furthermore, revenue management decisions are consistently higher compared to the newsvendor order quantities. In the face of increasing demand variability, revenue managers increase allocations; this behavior is consistent with normative patterns when the ratio of the selling prices of the two customer segments is less than 1/2, but is its exact opposite when this ratio is greater than 1/2. Newsvendors' behavior with respect to changing demand variability, on the other hand, is consistent with normative trends. We also observe that losses due to leftovers weigh more in newsvendor decisions compared to the revenue management model; we argue that overage cost is more salient in the newsvendor problem because it is perceived as a direct loss, and propose this as the driver of the differences in behavior observed under the two problems.
    Type of Medium: Online Resource
    ISSN: 1059-1478 , 1937-5956
    URL: Issue
    URL: Article
    DOI: 10.1111/poms.2015.24.issue-5
    DOI: 10.1111/poms.12297
    RVK:
    QA 10000
    Language: English
    Publisher: Wiley
    Publication Date: 2015
    detail.hit.zdb_id: 2151364-8
    detail.hit.zdb_id: 1108460-1
    SSG: 3,2
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  • 7
    Online Resource
    Online Resource
    Evaluation of congress tourism development in the world and in Turkey
    Emerald ; 2004
    In:  Tourism Review Vol. 59, No. 1 ( 2004-1-1), p. 44-46
    Details
    In: Tourism Review, Emerald, Vol. 59, No. 1 ( 2004-1-1), p. 44-46
    Abstract: Tourism has become one of the important events in the world with travel taking less time and becoming ever cheaper. Today many people are travelling to see new places or to have new experiences, and these movements result in considerable changes in community life (Do_an, 1987). From the beginning of tourism movements different inputs and mutual interactions have been faced. These emerge in some changes in community structures. When congress tourism and tourism movements are studied together, it can be seen that they have many common parts. In congress tourism, varying types can be seen: conferences, seminars, symposiums. A comprehensive name can be given for all these efforts: a “meeting”. Meetings can be summarized as conversations for information exchange among people gathered in a meetingplace. Sometimes the congress tourism concept can be used instead of meeting. Meeting delegates have high income levels and their spending amounts are generally higher than those of normal tourists. With only limited time, meeting delegates depart quickly after the meeting. Beside the meeting delegates, there are also accompanying people, and these people are also a good potential in meeting efforts (Tekeli, 2001). Since the importance of tourism is increasing day by day, this importance brings strong competition. Countries have to compete for new tourism markets as well as keep existing markets. In this context, congress tourism can be evaluated as one important type of tourism. In this article, congress tourism movements are examined in the world and in Turkey. Developments, the important countries, cities, and efforts related to this subject have been investigated.
    Type of Medium: Online Resource
    ISSN: 1660-5373
    URL: Article
    DOI: 10.1108/eb058429
    RVK:
    QA 10000
    Language: English
    Publisher: Emerald
    Publication Date: 2004
    detail.hit.zdb_id: 2412174-5
    SSG: 3,2
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  • 8
    Online Resource
    Online Resource
    Ties That Bind: The Value of Professional Connections to Sell-Side Analysts
    Institute for Operations Research and the Management Sciences (INFORMS) ; 2020
    In:  Management Science Vol. 66, No. 9 ( 2020-09), p. 4118-4151
    Details
    In: Management Science, Institute for Operations Research and the Management Sciences (INFORMS), Vol. 66, No. 9 ( 2020-09), p. 4118-4151
    Abstract: We examine professional connections among executives and analysts formed through overlapping historical employment. Analysts with professional connections to coverage firms have more accurate earnings forecasts and issue more informative buy and sell recommendations. These analysts are more likely to participate, be chosen first, and ask more questions during earnings conference calls and analyst/investor days. Homophily based on gender, age, and ethnicity is orthogonal to professional connections. Brokers attract greater trade commissions on stocks covered by connected analysts. Firms benefit through securing research coverage and invitations to broker-hosted investor conferences emulating from these connections. This paper was accepted by Lauren Cohen, finance.
    Type of Medium: Online Resource
    ISSN: 0025-1909 , 1526-5501
    URL: Article
    DOI: 10.1287/mnsc.2019.3391
    RVK:
    QP 300
    Language: English
    Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
    Publication Date: 2020
    detail.hit.zdb_id: 206345-1
    detail.hit.zdb_id: 2023019-9
    SSG: 3,2
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  • 9
    Online Resource
    Online Resource
    Creating Social Contagion Through Viral Product Design: A Randomized Trial of Peer Influence in Networks
    Institute for Operations Research and the Management Sciences (INFORMS) ; 2011
    In:  Management Science Vol. 57, No. 9 ( 2011-09), p. 1623-1639
    Details
    In: Management Science, Institute for Operations Research and the Management Sciences (INFORMS), Vol. 57, No. 9 ( 2011-09), p. 1623-1639
    Abstract: We examine how firms can create word-of-mouth peer influence and social contagion by designing viral features into their products and marketing campaigns. To econometrically identify the effectiveness of different viral features in creating social contagion, we designed and conducted a randomized field experiment involving the 1.4 million friends of 9,687 experimental users on Facebook.com. We find that viral features generate econometrically identifiable peer influence and social contagion effects. More surprisingly, we find that passive-broadcast viral features generate a 246% increase in peer influence and social contagion, whereas adding active-personalized viral features generate only an additional 98% increase. Although active-personalized viral messages are more effective in encouraging adoption per message and are correlated with more user engagement and sustained product use, passive-broadcast messaging is used more often, generating more total peer adoption in the network. Our work provides a model for how randomized trials can identify peer influence in social networks. This paper was accepted by Pradeep Chintagunta and Preyas Desai, special issue editors. This paper was accepted by Pradeep Chintagunta and Preyas Desai, special issue editors.
    Type of Medium: Online Resource
    ISSN: 0025-1909 , 1526-5501
    URL: Article
    DOI: 10.1287/mnsc.1110.1421
    RVK:
    QP 300
    Language: English
    Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
    Publication Date: 2011
    detail.hit.zdb_id: 206345-1
    detail.hit.zdb_id: 2023019-9
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  • 10
    Online Resource
    Online Resource
    Production, Process Investment, and the Survival of Debt‐Financed Startup Firms
    Wiley ; 2012
    In:  Production and Operations Management Vol. 21, No. 4 ( 2012-07), p. 637-652
    Details
    In: Production and Operations Management, Wiley, Vol. 21, No. 4 ( 2012-07), p. 637-652
    Abstract: Whether to invest in process development that can reduce the unit cost and thereby raise future profits or to conserve cash and reduce the likelihood of bankruptcy is a key trade‐off faced by many startup firms that have taken on debt. We explore this trade‐off by examining the production quantity and cost reducing R & D investment decisions in a two period model wherein a startup firm must make a minimum level of profit at the end of the first period to survive and operate in the second period. We specify a probabilistic survival measure as a function of production and investment decisions to track and manage the risk exposure of the startup depending on three key market factors: technology, demand, and competitor's cost. We develop managerial insights by characterizing how to create operational hedges against the bankruptcy risk: if a startup makes a “conservative” investment decision, then it also selects an optimal quantity that is less than the monopoly level and hence sacrifices some of first period expected profits to increase its survival chances. If it decides to invest “aggressively,” then it produces more than the monopoly level to cover the higher bankruptcy risk. We also illustrate that debt constraint shrinks the decision space, wherein such process investments are viable.
    Type of Medium: Online Resource
    ISSN: 1059-1478 , 1937-5956
    URL: Issue
    URL: Article
    DOI: 10.1111/poms.2012.21.issue-4
    DOI: 10.1111/j.1937-5956.2012.01319.x
    RVK:
    QA 10000
    Language: English
    Publisher: Wiley
    Publication Date: 2012
    detail.hit.zdb_id: 2151364-8
    detail.hit.zdb_id: 1108460-1
    SSG: 3,2
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