Research Outputs
Permanent URI for this communityhttps://hdl.handle.net/20.500.14288/2
Browse
13 results
Search Results
Publication Metadata only Bank lending standards and access to lines of credit(Wiley, 2012) James, Christopher; Kizilaslan, Atay; Department of Business Administration; Demiroğlu, Cem; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics; 18073This paper examines how changes in bank lending standards are related to the availability of bank lines of credit for private and comparable public firms. Overall, we find that access to lines of credit is more contingent on bank lending standards for private than for public firms. The impact of bank lending standards is however asymmetric: while private firms are less likely than public firms to gain access to new lines when credit market conditions are tight, we find no difference between public and private firms in terms of their use or retention of pre-existing lines. We also find that private firms without lines of credit use more trade credit when bank lending standards are tight, which is suggestive of a supply effect. Overall, the evidence suggests that credit crunches are likely to have a disproportionate impact on private firms. However, pre-existing banking relationships appear to mitigate the impact of these contractions on private firms.Publication Metadata only Derivatives and stock market volatility: is additional government regulation necessary?(Kluwer Academic Publ, 1995) Department of Business Administration; Tiniç, Mehmet Seha; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics; N/AN/APublication Metadata only Global product R&D and the firm's strategic position(Amer Marketing Assoc, 1999) Zou, S.M.; Department of Business Administration; Tunalı, Ayşegül Özsomer; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics; 108158The authors investigate coordination and concentration of firms' global product research and development (R&D) and their effect on the firm's global strategic position. Some internal and external antecedents of coordination and concentration also are identified. A conceptual model is developed and tested bq structural equation modeling. The results show that coordination of R&D is a key determinant of the firm's global strategic position. Furthermore, coordination of R&D is influenced by global emphasis and human resource flexibility, both internal organizational resources. Similarly, concentration of R&D is influenced by human resource flexibility. The implications of the findings are discussed.Publication Metadata only Macro-financial spillovers(Elsevier Ltd, 2023) Cotter J.; Hallam M.; Department of Economics; Yılmaz, Kamil; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; 6111We 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 differences 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 environments. 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 Price discrimination through multi-level loyalty programs (vol 27, pg 687, 2015)(Springer, 2016) Department of Business Administration; Department of Economics; Sayman, Serdar; Usman, Ali Murat; Faculty Member; Teaching Faculty; Department of Business Administration; Department of Economics; College of Administrative Sciences and Economics; College of Administrative Sciences and Economics; 112222; 100999Loyalty programs often feature multiple rewards with different requirements; for instance, an airline offering a free domestic ticket for 10 K miles, and an international ticket for 20 K miles. This research focuses on the role of multi-level rewards as a segmentation and price discrimination mechanism: Multi-level rewards can increase firm profits when buyers differ in purchase frequency and/or time discount factor. We propose that a program with two rewards can be designed in such a way that (i) it is more profitable than a one-reward program, and (ii) buyers self-select. Light users prefer to receive the smaller reward two times over receiving the larger reward one time, even though the smaller reward is less than half of the larger reward. We show that the smaller reward helps the firm enlarge its base in the light user segment. We also compare multi-level programs with quantity discounts.Publication Metadata only Reserve requirements, liquidity risk, and bank lending behavior(Wiley-Blackwell, 2018) Alper, Koray; Binici, Mahir; Kara, Hakan; Özlü, Pınar; Department of Economics; Demiralp, Selva; Faculty Member; Department of Economics; College of Administrative Sciences and Economics; 42533Although reserve requirements (RR) have been used in emerging markets to smooth credit cycles, the transmission mechanism remains blurry. Using bank-level data, we unveil the interaction of RR with bank lending. We identify a new channel that works through a decline in banks' liquid assets and loan supply due to an increase in RR. Quantitative tightening through RR raises the short-term funding needs of the banking system, which is met by collateralized central bank lending, thus depleting banks' unencumbered liquid assets. Our results suggest that such a shift in bank liquidity is associated with a significant change in lending.Publication 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 State-dependent asset allocation using neural networks(Taylor & Francis, 2022) Bradrania, Reza; N/A; Pirayesh Negab, Davood; PhD Student; Graduate School of Sciences and Engineering; N/AChanges in market conditions present challenges for investors as they cause performance to deviate from the ranges predicted by long-term averages of means and covariances. The aim of conditional asset allocation strategies is to overcome this issue by adjusting portfolio allocations to hedge changes in the investment opportunity set. This paper proposes a new approach to conditional asset allocation that is based on machine learning; it analyzes historical market states and asset returns and identifies the optimal portfolio choice in a new period when new observations become available. In this approach, we directly relate state variables to portfolio weights, rather than firstly modeling the return distribution and subsequently estimating the portfolio choice. The method captures nonlinearity among the state (predicting) variables and portfolio weights without assuming any particular distribution of returns and other data, without fitting a model with a fixed number of predicting variables to data and without estimating any parameters. The empirical results for a portfolio of stock and bond indices show the proposed approach generates a more efficient outcome compared to traditional methods and is robust in using different objective functions across different sample periods.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 The effect of corporate social responsibility (CSR) activities on companies with bad reputations(Lawrence Erlbaum Assoc Inc, 2006) Yoon, Yeosun; Schwarz, Norbert; Department of Business Administration; Canlı, Zeynep Gürhan; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics; 16135Based on theories of attribution and suspicion, three experiments highlight the mediating role of perceived sincerity of motives in determining the effectiveness of CSR activities. CSR activities improve a company's image when consumers attribute sincere motives, are ineffective when sincerity of motives is ambiguous, and hurt the company's image when motives are perceived as insincere. Variables affecting perceived sincerity include the benefit salience of the cause, the source through which consumers learn about CSR, and the ratio of CSR contributions and CSR-related advertising. High benefit salience of the cause hurts the company, in particular when consumers learn about it from a company source. This backfire effect can be overcome by spending more on CSR activities than on advertising that features CSR.