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Permanent URI for this collectionhttps://hdl.handle.net/20.500.14288/3
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Publication Metadata only Macro-financial spillovers(Elsevier Sci Ltd, 2023) Cotter, John; Hallam, Mark; Department of Economics; Yılmaz, Kamil; Department of Economics; College of Administrative Sciences and EconomicsWe analyse spillovers between the real and financial sides of the US economy, and between those in the US and other advanced economies. The approach developed allows for differ-ences in sampling frequency between financial and macroeconomic data. We find that financial markets are typically net transmitters of shocks to the real side of the economy, particularly during turbulent market conditions. This result holds both for domestic US macro-financial spillovers, and also those between the US and other advanced economies. Our macro-financial spillover measures are found to have significant predictive ability for future macroeconomic conditions in both in-sample and out-of-sample forecasting envi-ronments. Furthermore, the predictive ability frequently of our macro-financial measures frequently exceeds that of purely financial systemic risk measures previously employed in the literature for the same task.Publication Metadata only Duality of language as a tool for integration versus mobility at work: utility of a polyphonic perspective(Edward Elgar Publishing Ltd, 2023) Erbil, Cihat; Baglama, Sercan Hamza; Department of Business Administration; Özbilgin, Mustafa; Department of Business Administration; College of Administrative Sciences and EconomicsN/APublication Metadata only Service science editorial board, 2023(Informs Inst.for Operations Res.and the Management Sciences, 2023) Benjaafar, Saif; Jiang, Baojun; Xu, Alison; Allon, Gad; Tang, Christopher S.; Chernobai, Anna; Pinedo, Michael; Schaefer, Andrew; Agarwal, Ashish; Agrawal, Vishal; Anderson, Chris; Barrett, Michael; Basole, Rahul; Belavina, Elena; Blomberg, Jeanette; Boyacı, Tamer; Buell, Ryan; Burtch, Gordon; Chan, Timothy; Chen, Cynthia; Chen, Li; Choi, Sunmee; Chun, HaeEun Helen; Curti, Filippo; Debo, Laurens; Dixon, Michael; Elmachtoub, Adam; Fang, Eric; Farahani, Reza Zanjirani; Geroliminis, Nikolas; Guajardo, Jose; Gui, Luyi; Gurnani, Haresh; Hua, Zhongsheng; Brandeau, Margaret; Chase, Richard; Dietrich, Brenda; Frei, Frances; Gann, David; Gallego, Guillermo; Hu, Ming; Verma, Rohit; Sheng, Olivia; de Vericourt, Francis; Roels, Guillaume; Roth, Aleda; Cui, Tony Haitao; Huang, Yanliu; Iyer, Krishnamurthy; Jouini, Oualid; Kannan, P.K.; Kavadias, Stelios; Kim, Sang; de Koster, Rene; Lee, Donald; Li, Zhepeng; Lin, Grace; Liu, Yunchuan; Lo, Chris; Mak, Ho-Yin; Minner, Stefan; Misic, Velibor; Narayanan, Sriram; Nie, Marco; Nohadani, Omid; Osadchiy, Nikolay; Pant, Gautam; Righter, Rhonda; Saghafian, Soroush; Shi, Pengyi; Harker, Patrick; Hsu, Cheng; Karmarkar, Uday; Larson, Richard; Baron, Opher; Ziya, Serhan; Song, Jeannette; Girotra, Karan; Yin, Yafeng; Benjaafar, Saif; Shin, Hyoduk; Shugan, Steve; Subramanian, Upender; Sun, Peng; Sun, Wei; Taneri, Niyazi; Thompson, Gary; Trichakis, Nikolaos; Van Oyen, Mark; Venkataraman, Sriram; Victorino, Liana; Wang, Hai; Wang, Zizhuo; Wu, Xiaole; Xu, Lizhen; Xu, Yuqian; Yam, Kai Chi; Yang, Xiaojing; Yano, Candace; Yu, Yimin; Zhang, Yinghao; Zheng, Karen; Zhou, Sean; Qiu, Robin G.; Roth, Aleda; Tien, James; Wladawsky-Berger, Irving; Department of Business Administration; Karaesmen, Zeynep Akşin; Department of Business Administration; College of Administrative Sciences and EconomicsPublication Metadata only Local market reaction to brand acquisitions: evidence from the craft beer industry(Informs, 2024) Misra, Kanishka; Singh, Vishal; Department of Business Administration; Güler, Ali Umut; Department of Business Administration; College of Administrative Sciences and EconomicsA large stream of literature shows that the emotional bond between consumer and brand can induce a sense of psychological ownership, and shocks to this relationship, such as brand repositioning or acquisitions, can induce a negative consumer reaction. This article provides a large-scale empirical study on such brand "transgressions" in the context of acquisition of local breweries by large conglomerates. Our analysis covering 40 brand acquisitions shows a strong negative reaction to acquisitions on social media. Analysis of transaction data shows that this adverse sentiment results in a 15% drop in baseline demand in the local market following the acquisition. This represents a significant negative shock to the acquired brand, as the local region accounts for more than one-fifth of brand sales on average, even in the long run. The decline begins immediately following the acquisition and manifests in both sales and product ratings. Our findings indicate a more pronounced reaction to acquisitions by "big business" and provide evidence of demand spillover in the home market to competing brands that remain locally owned. The theoretical and managerial implications of our findings are discussed.Publication Metadata only Supported nondominated points as a representation of the nondominated set: an empirical analysis(Wiley, 2024) Department of Business Administration; Sayın, Serpil; Department of Business Administration; College of Administrative Sciences and EconomicsThe nondominated set of a multiple objective discrete optimization problem is known to contain unsupported nondominated points, which outnumber the supported ones and are more difficult to obtain. We treat supported nondominated points as a representation and analyse their quality using different metrics beyond their sheer numbers. Under different data generation schemes on multiobjective knapsack and assignment problems, we observe that supported nondominated points almost always provide a good representation of the entire nondominated set.Publication Metadata only Brands and branding around the World(Sage Publications Inc, 2024) Batra, Rajeev; Steenkamp, Jan-Benedict E. M.; Department of Business Administration; Tunalı, Ayşegül Özsomer; Department of Business Administration; College of Administrative Sciences and EconomicsN/APublication Metadata only Shifting standards in consumer evaluations of global and local brands after product-harm crises(Sage Publications Inc, 2024) Sayın, Eda; Department of Business Administration; Aydınoğlu, Nilüfer Zümrüt; Tunalı, Ayşegül Özsomer; Canlı, Zeynep Gürhan; Department of Business Administration; College of Administrative Sciences and EconomicsBuilding on shifting standards theory from social psychology, the authors suggest global versus local branding as an important categorization that affects consumers' reactions to product-harm crises in emerging markets. Specifically, the distinct associations attached to global and local brands create shifting standards and lead to differential consumer expectations and evaluations. In four main and two supplementary experiments, the authors demonstrate that consumers from emerging markets react more negatively toward a product-harm crisis by global (vs. local) brands. Higher initial expectations for global brands are the underlying cause of this more pronounced consumer response to failures. The authors demonstrate which specific expectations are driven by the shifting standards around global and local brands and identify product category as a relevant boundary condition. Finally, consumers with high ethnocentrism appreciate it directionally more when a local brand provides compensation after a product-harm crisis than when a global brand provides compensation. The results have important implications for brand management and crisis management strategies.Publication Metadata only Nonstandard errors(Wiley, 2024) Menkveld, Albert J.; Dreber, Anna; Holzmeister, Felix; Huber, Juergen; Johannesson, Magnus; Kirchler, Michael; Neususs, Sebastian; Razen, Michael; Weitzel, Utz; Abad-Diaz, David; Abudy, Menachem; Adrian, Tobias; Ait-Sahalia, Yacine; Akmansoy, Olivier; Alcock, Jamie T.; Alexeev, Vitali; Aloosh, Arash; Amato, Livia; Amaya, Diego; Angel, James J.; Avetikian, Alejandro T.; Bach, Amadeus; Baidoo, Edwin; Bakalli, Gaetan; Bao, Li; Barbon, Andrea; Bashchenko, Oksana; Bindra, Parampreet C.; Bjonnes, Geir H.; Black, Jeffrey R.; Black, Bernard S.; Bogoev, Dimitar; Bohorquez Correa, Santiago; Bondarenko, Oleg; Bos, Charles S.; Bosch-Rosa, Ciril; Bouri, Elie; Brownlees, Christian; Calamia, Anna; Viet Nga Cao; Capelle-Blancard, Gunther; Romero, Laura M. Capera; Caporin, Massimiliano; Carrion, Allen; Caskurlu, Tolga; Chakrabarty, Bidisha; Chen, Jian; Chernov, Mikhail; Cheung, William; Chincarini, Ludwig B.; Chordia, Tarun; Chow, Sheung-Chi; Clapham, Benjamin; Colliard, Jean-Edouard; Comerton-Forde, Carole; Curran, Edward; Thong Dao; Dare, Wale; Davies, Ryan J.; De Blasis, Riccardo; De Nard, Gianluca F.; Declerck, Fany; Deev, Oleg; Degryse, Hans; Deku, Solomon Y.; Desagre, Christophe; Van Dijk, Mathijs A.; Dim, Chukwuma; Dimpfl, Thomas; Dong, Yun Jiang; Drummond, Philip A.; Dudda, Tom; Duevski, Teodor; Dumitrescu, Ariadna; Dyakov, Teodor; Dyhrberg, Anne Haubo; Dzielinski, Michal; Eksi, Asli; El Kalak, Izidin; ter Ellen, Saskia; Eugster, Nicolas; Evans, Martin D. D.; Farrell, Michael; Felez-Vinas, Ester; Ferrara, Gerardo; Ferrouhi, El Mehdi; Flori, Andrea; Fluharty-Jaidee, Jonathan T.; Foley, Sean D. V.; Fong, Kingsley Y. L.; Foucault, Thierry; Franus, Tatiana; Franzoni, Francesco; Frijns, Bart; Frommel, Michael; Fu, Servanna M.; Fullbrunn, Sascha C.; Gan, Baoqing; Gao, Ge; Gehrig, Thomas P.; Gemayel, Roland; Gerritsen, Dirk; Gil-Bazo, Javier; Gilder, Dudley; Glosten, Lawrence R.; Gomez, Thomas; Gorbenko, Arseny; Grammig, Joachim; Gregoire, Vincent; Gucbilmez, Ufuk; Hagstromer, Bjorn; Hambuckers, Julien; Hapnes, Erik; Harris, Jeffrey H.; Harris, Lawrence; Hartmann, Simon; Hasse, Jean-Baptiste; Hautsch, Nikolaus; He, Xue-Zhong; Heath, Davidson; Hediger, Simon; Hendershott, Terrence; Hibbert, Ann Marie; Hjalmarsson, Erik; Hoelscher, Seth A.; Hoffmann, Peter; Holden, Craig W.; Horenstein, Alex R.; Huang, Wenqian; Huang, Da; Hurlin, Christophe; Ilczuk, Konrad; Ivashchenko, Alexey; Iyer, Subramanian R.; Jahanshahloo, Hossein; Jalkh, Naji; Jones, Charles M.; Jurkatis, Simon; Jylha, Petri; Kaeck, Andreas T.; Kaiser, Gabriel; Karam, Arze; Karmaziene, Egle; Kassner, Bernhard; Kaustia, Markku; Kazak, Ekaterina; Kearney, Fearghal; Van Kervel, Vincent; Khan, Saad A.; Khomyn, Marta K.; Klein, Tony; Klein, Olga; Klos, Alexander; Koetter, Michael; Kolokolov, Aleksey; Korajczyk, Robert A.; Kozhan, Roman; Krahnen, Jan P.; Kuhle, Paul; Kwan, Amy; Lajaunie, Quentin; Lam, F. Y. Eric C.; Lambert, Marie; Langlois, Hugues; Lausen, Jens; Lauter, Tobias; Leippold, Markus; Levin, Vladimir; Li, Yijie; Li, Hui; Liew, Chee Yoong; Lindner, Thomas; Linton, Oliver; Liu, Jiacheng; Liu, Anqi; Llorente, Guillermo; Lof, Matthijs; Lohr, Ariel; Longstaff, Francis; Lopez-Lira, Alejandro; Mankad, Shawn; Mano, Nicola; Marchal, Alexis; Martineau, Charles; Mazzola, Francesco; Meloso, Debrah; Mi, Michael G.; Mihet, Roxana; Mohan, Vijay; Moinas, Sophie; Moore, David; Mu, Liangyi; Muravyev, Dmitriy; Murphy, Dermot; Neszveda, Gabor; Muravyev, Dmitriy; Murphy, Dermot; Neszveda, Gabor; Neumeier, Christian; Nielsson, Ulf; Nimalendran, Mahendrarajah; Nolte, Sven; Norden, Lars L.; O'Neill, Peter; Obaid, Khaled; Odegaard, Bernt A.; Ostberg, Per; Pagnotta, Emiliano; Painter, Marcus; Palan, Stefan; Palit, Imon J.; Park, Andreas; Pascual, Roberto; Pasquariello, Paolo; Pastor, Lubos; Patel, Vinay; Patton, Andrew J.; Pearson, Neil D.; Pelizzon, Loriana; Pelli, Michele; Pelster, Matthias; Perignon, Christophe; Pfiffer, Cameron; Philip, Richard; Plihal, Tomas; Prakash, Puneet; Press, Oliver-Alexander; Prodromou, Tina; Prokopczuk, Marcel; Putnins, Talis; Qian, Ya; Raizada, Gaurav; Rakowski, David; Ranaldo, Angelo; Regis, Luca; Reitz, Stefan; Renault, Thomas; Renjie, Rex W.; Reno, Roberto; Riddiough, Steven J.; Rinne, Kalle; Rintamaki, Paul; Riordan, Ryan; Rittmannsberger, Thomas; Longarela, Inaki Rodriguez; Roesch, Dominik; Rognone, Lavinia; Roseman, Brian; Rosu, Ioanid; Roy, Saurabh; Rudolf, Nicolas; Rush, Stephen R.; Rzeznik, Aleksandra A.; Sanford, Anthony; Sankaran, Harikumar; Sarkar, Asani; Sarno, Lucio; Scaillet, Olivier; Scharnowski, Stefan; Schenk-Hoppe, Klaus R.; Schertler, Andrea; Schneider, Michael; Schroeder, Florian; Schuerhoff, Norman; Schuster, Philipp; Schwarz, Marco A.; Seasholes, Mark S.; Seeger, Norman J.; Shachar, Or; Shkilko, Andriy; Shui, Jessica; Sikic, Mario; Simion, Giorgia; Smales, Lee A.; Soderlind, Paul; Sojli, Elvira; Sokolov, Konstantin; Sonksen, Jantje; Spokeviciute, Laima; Stefanova, Denitsa; Subrahmanyam, Marti G.; Szaszi, Barnabas; Talavera, Oleksandr; Tang, Yuehua; Taylor, Nick; Tham, Wing Wah; Theissen, Erik; Thimme, Julian; Tonks, Ian; Tran, Hai; Trapin, Luca; Trolle, Anders B.; Vaduva, M. Andreea; Valente, Giorgio; Van Ness, Robert A.; Vasquez, Aurelio; Verousis, Thanos; Verwijmeren, Patrick; Vilhelmsson, Anders; Vilkov, Grigory; Vladimirov, Vladimir; Vogel, Sebastian; Voigt, Stefan; Wagner, Wolf; Walther, Thomas; Weiss, Patrick; Van der Wel, Michel; Werner, Ingrid M.; Werner, Ingrid M.; Westerholm, P. Joakim; Westheide, Christian; Wika, Hans C.; Wipplinger, Evert; Wolf, Michael; Wolff, Christian C. P.; Wolk, Leonard; Wong, Wing-Keung; Wrampelmeyer, Jan; Wu, Zhen-Xing; Xia, Shuo; Xiu, Dacheng; Xu, Ke; Xu, Caihong; Yadav, Pradeep K.; Yague, Jose; Yan, Cheng; Yang, Antti; Yoo, Woongsun; Yu, Wenjia; Yu, Yihe; Yu, Shihao; Yueshen, Bart Z.; Yuferova, Darya; Zamojski, Marcin; Zareei, Abalfazl; Zeisberger, Stefan M.; Zhang, Lu; Zhang, S. Sarah; Zhang, Xiaoyu; Zhao, Lu; Zhong, Zhuo; Zhou, Z. Ivy; Zhou, Chen; Zhu, Xingyu S.; Zoican, Marius; Zwinkels, Remco; Department of Business Administration; Rzayev, Khaladdin; Department of Business Administration; College of Administrative Sciences and EconomicsIn statistics, samples are drawn from a population in a data-generating process (DGP). Standard errors measure the uncertainty in estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence-generating process (EGP). We claim that EGP variation across researchers adds uncertainty-nonstandard errors (NSEs). We study NSEs by letting 164 teams test the same hypotheses on the same data. NSEs turn out to be sizable, but smaller for more reproducible or higher rated research. Adding peer-review stages reduces NSEs. We further find that this type of uncertainty is underestimated by participants.Publication Metadata only High-frequency trading in the stock market and the costs of options market making(Elsevier Sci Ltd, 2024) Nimalendran, Mahendrarajah; Sagade, Satchit; Department of Business Administration; Rzayev, Khaladdin; Department of Business Administration; College of Administrative Sciences and EconomicsWe investigate how high-frequency trading (HFT) in equity markets affects options market liquidity. We find that increased aggressive HFT activity in the stock market leads to wider bid-ask spreads in the options market through two main channels. First, options market makers' quotes are exposed to sniping risk from HFTs exploiting put-call parity violations. Second, informed trading in the options market further amplifies the impact of HFT in equity markets on the liquidity of options by simultaneously increasing the options bid-ask spread and intensifying aggressive HFT activity in the underlying market.Publication Metadata only The impact of Covid-19 on the willingness to work in teams(Elsevier B.V., 2024) Divle, Sunduz; Gumren, Mert; Department of Economics; Ertaç, Seda; Department of Economics; College of Administrative Sciences and EconomicsThis paper studies the impact of the COVID-19 pandemic on individuals’ willingness to work in teams, using an online experiment. We implement a setup where individuals can choose to work on a real effort task either individually or together with a partner through online interaction. We find that although working in a team is more profitable and participants also expect this, a large fraction makes a financially costly decision by shying away from teamwork. Moreover, participants primed with COVID-19 are less likely to self-select into teamwork in a dynamic setting with two team selection periods, with the effect coming mainly from the second selection period, after a random fraction of participants are exogenously assigned to teamwork. We find that in addition to COVID-19 salience, social confidence, the willingness to socialize, and prior exposure to teamwork are significant predictors of the decision to join or avoid socially interactive work environments. Our findings provide insights into the potential impact of the pandemic on social interactions in a work setting. © 2024 Elsevier B.V.