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Virtue-Driven Leadership: Powering Excellence In Organizations, Joseph Scherrer

Arts & Sciences Electronic Theses and Dissertations

In this thesis, I seek to answer the question “What makes a good leader?” I approach this question systematically, starting in Chapter 1 by asking “What is Leadership?” In attempting to formulate a response, I find that the concept is slipperier than it first appears and difficult to pin down. All the same, I construct a thematic, contextually pertinent definition that provides reasonable precision for the purposes of this study. In Chapter 2, I present a representative survey of the social-scientific academic literature in order to establish the prospect that a philosophy of virtuous leadership can be empirically validated in …

Process Information And Creative Mindsets: An Examination Of Their Role In The Evaluation Of Creativity, Brendon Michael Cummiskey

Arts & Sciences Electronic Theses and Dissertations

Evaluating creativity is a key role for any organization interested in innovation and how that evaluation occurs has been a focal point of researchers. Although creativity scholars have made strides in understanding creativity evaluations, questions remain about the role that process information plays in the evaluation. While most creativity research involves some type of outcome, such as an idea or product, the evaluators often have no description of the creator’s work process or any understanding of the idea or product’s creation. In this dissertation, I build upon the existing evaluation literature and critically examine how process information may influence the …

Essays In Empirical Asset Pricing, Landon James Ross

Arts & Sciences Electronic Theses and Dissertations

This dissertation examines several empirical questions regarding the determiniation of asset prices. The first chapter studies the effect of firm characteristics’ interactions on the cross-section of expected returns via a modified Fama-Macbeth regression suitable for estima- tion problems involving thousands of firm characteristics. The second chapter estimates eco- nomically significant risks from legally required risk disclosures in public companies annual filings via a novel regression specification designed for the estimation of firm characteristics that are both aligned with expected returns and semantically meaningful. The third chapter examines the aggregate financial consequences of firms’ cash holdings for shareholders.

Essays On Markets With Frictions, Hyesung Yoo

Arts & Sciences Electronic Theses and Dissertations

In this dissertation, I explore the implications of various forms of frictions on market outcomes.Specifically, I look at search frictions in two-sided markets, geographic frictions in a healthcare market, and the use of a machine learning approach in the presence of regulatory frictions. In the first chapter, I leverage the entry of a high-speed train system in South Korea as a natural experiment to establish the causal effect of competition between hospitals on health care quality and consumer welfare. Using a difference-in-differences estimator, we examine the effects of competition on hospitals depending on their proximity to train stations, notably how …

Essays On Information And Liquidity, Swaminathan Balasubramaniam

Arts & Sciences Electronic Theses and Dissertations

The 2008 financial crisis has highlighted the challenges faced by financial systems in aggregating information, ensuring coordination among various market participants and providing adequate liquidity. In this backdrop, the three chapters of the dissertation explore (i) the role of disagreement in enabling communication and trade among strategic investors (ii) how uncertainty about what others know could be exploited in preventing coordination failures (ii) pricing liquid and illiquid assets in response to unforeseen liquidity demand.

When do competing traders, endowed with different pieces of information pertaining to a security payoff, exchange information before trading? The first essay shows that competing traders …

Peer Interactions In Decision Making, Yijun Chen

Arts & Sciences Electronic Theses and Dissertations

The broad research topic of my dissertation is individual’s decision making in the presence of peer interactions. I focus on empirical settings where individuals are connected with others in the peer network, and through peer interactions, their decisions are interdependent. Peer network structures in terms of who is connected with whom and the mechanisms of peer interactions convey valuable information on the decision making process. I employ quantitative empirical methods to uncover the information embedded in peer networks, provide insights on the mechanisms of peer interactions, and generate peer-network based managerial implications.

Chapter 1 studies how participants collaborate to compete …

Essays In Corporate Finance And Machine Learning, Manish Jha

Arts & Sciences Electronic Theses and Dissertations

My dissertation focuses on two broad questions. First, why do shareholder’s preferences vary, and how various agents persuade them? And second, how public perceptions about the financial sector and regulations affect economic outcomes? While my research plan contributes to the two distinct fields of literature, a unifying theme of my research is the use of innovative machine learning techniques to overcome the empirical challenges that would typically prevent measuring these sentiments objectively.

In my Chapter 1, I use a supervised machine learning model on mutual fund family’s proxy voting choices to estimate their preferences. I find that hedge fund activists …

Antecedent And Consequence Of Flux In Coordination Caused By Team Membership Change, Taejin Hwang

Arts & Sciences Electronic Theses and Dissertations

Teams in diverse settings experience membership change. Although researchers have examined what happens in a team after membership change, we know little about what happens in a team after members are informed about the upcoming change and before the change actually happens. I develop and test a conceptual model of how teams respond to the news of upcoming membership change. Drawing on social identity theory, I propose that decreased team identification of members who will soon leave a team would necessitate members who will stay in a team to modify their coordination mechanisms which result in flux in coordination. Because …

Three Essays On Competition And Misconduct, Parasuram Balasubramanian

Arts & Sciences Electronic Theses and Dissertations

This dissertation examines firm behavior in response to when regulators, market players or stakeholders address the issue of negative production externalities arising from firm activity. The first chapter examines how economic actors respond to an environmental regulation that seeks to foreclose certain market positions from future activity, in order to preserve natural resources. In chapter two, I examine how competition can have a monitoring effect on the likelihood of misconduct. Chapters one and two use satellite data on commercial fishing activity that allows me to observe fishing activity at a high spatial and temporal resolution. The third chapter addresses the …

Essays In Investments, Lina Han

Arts & Sciences Electronic Theses and Dissertations

Over the past decade, the asset management industry has experienced significant changes, with exponential growth due to the demand from individual investors. Within this context, my dissertation focuses on studying both individual and institutional investors’ behaviors. In Chapter 1, I study individual investors’ behaviors on the Alipay platform. I use unique, individual transaction data from a trading experiment implemented through the Alipay app and the same individuals’ trading history in the financial market. In response to the exogenous price movements in the experiment, investors tend to be contrarian traders. The sophisticated investors tend to be more contrarian than the less …

“Managing Errors” In The Perception Of Workplace Social Networks: The Case Of Workplace Cooperation, Patrizia Vecchi

Arts & Sciences Electronic Theses and Dissertations

Exchanging help with one’s coworkers is essential to survive the demands and pressures of modern organizational life. But individuals have a limited amount of resources to trade for others and thus necessitate to identify reliable exchange partners with whom the exchange can be beneficial. At the same time, individuals have reputations for cooperation to protect that they need to consider in deciding whether and to what extent they should make themselves and their resources available to colleagues. I argue that these evaluations are informed by the structure of the informal exchanges as the individual perceives it, and I examine the …

Essays On Consumer Online Search And Digital Content Consumption, Shuo Zhang

Arts & Sciences Electronic Theses and Dissertations

In my dissertation, I apply empirical quantitative methods to marketing research and investigate consumer online search and purchase patterns, as well as digital consumption behaviors and the potential implication for marketing managers. This dissertation consists of two chapters. Chapter 1 studies the consumer shopping channel choice when they search and shop for products online. Mobile phones have emerged as a major channel for online shopping as an alternative to PCs. Despite more consumers using mobile phones, the conversion rate on the mobile channel is lower than that on the PC channel. In this study, we propose a structural consumer search-and-purchase …

Essays On Asset Pricing: A Model Comparison Perspective, Lingxiao Zhao

Arts & Sciences Electronic Theses and Dissertations

In my dissertation, I focus on theoretical and empirical asset pricing from a Bayesian model comparison perspective. In the first Chapter, revisiting the framework of Barillas and Shanken (2018), BS henceforth, we show that the Bayesian marginal likelihood-based model comparison method in that paper is unsound: the priors on the nuisance parameters across models must satisfy a change of variable property for densities that is violated by the Jeffreys priors used in the BS method. Extensive simulation exercises confirm that the BS method performs unsatisfactorily. We derive a new class of improper priors on the nuisance parameters, starting from a …

Operations Management Under Financial Frictions, Fasheng Xu

Arts & Sciences Electronic Theses and Dissertations

The main purpose of this dissertation is to study the emerging operations issues under financial frictions, in the contexts of supply chain finance and crowdfunding platform; and to identify the implications for individuals and businesses. In Chapter 1, "A Supply Chain Theory of Factoring and Reverse Factoring", we develop a supply chain theory of factoring (recourse and non-recourse) and reverse factoring showing when these post-shipment financing schemes should be adopted and who really benefits from the adoption. Factoring is a financial arrangement where the supplier sells accounts receivable to the factor against a premium, and receives cash for immediate working …

Essays On Marketing Strategy, Chang Liu

Arts & Sciences Electronic Theses and Dissertations

In this dissertation, I apply game-theoretical methods in the context of marketing research and investigate the effects of stylized facts in behavioral economics. Chapter 1 studies the effects of managerial optimism on firms’ performance. Research has shown that many managers and entrepreneurs tend to be optimistic and are inclined to believe that negative shocks happen to them less frequently than to others. However, there is also evidence suggesting that such optimism is often inaccurate in reality and managerial optimism can lead to the failure of a company. We develop a game-theoretic model to investigate the impact of managerial optimism on …

Blame And Credit In Organizations: Theory And Evidence Explaining The Responses Of Leaders After Failure And Success, Jasmine M. Huang

Arts & Sciences Electronic Theses and Dissertations

The blame and credit literature has operated largely on the assumption that actors want to reduce the blame assigned to them and increase assigned credit (Gioia & Sims, 1985; Greenwald, 1980; Shaver, 1985). As a result, much of the literature has focused on the shifting of blame away from the self and of credit towards the self (e.g., Crant & Bateman, 1993), rather than other behaviors that are less self-serving (e.g., blame-taking, Gunia, 2011). This dissertation explores a variety of blame and credit behaviors and explains why leaders may enact different types of blame and credit behaviors. In Chapter 2, …

Microfoundations Of Innovation In Organizations, Trey Cummings

Arts & Sciences Electronic Theses and Dissertations

This dissertation weaves together three distinct chapters that are unified in their focus on the microfoundations of innovation in organizations. Chapter 1 utilizes a unique NASA employee data set to investigate the effect of promotion reward incentives on knowledge worker innovation. This study is the first to empirically show a positive relationship of promotion incentives with individual innovation outcomes in a field setting while also revealing a decrease in collaboration. This result exposes promotion structure as a potentially powerful tool for affecting innovation. Chapter 2 develops a unique measure of R&D structure and finds that the incentives created by long-term …

Firms’ Strategies For Technology And Platform-Based Markets, Tianxin Zou

Arts & Sciences Electronic Theses and Dissertations

In this dissertation, I build game-theoretic frameworks to study how new Internet-enabled technologies can change the strategies of firms and online platforms.

The first chapter studies how the integration of primary and resale concert ticket platforms can affect consumers and musicians. Consumers can buy concert tickets from primary platforms (e.g., Ticketmaster) or from resale platforms (e.g., StubHub) where tickets are resold by other consumers. Recently, Ticketmaster has also been developing its resale business and attempting to control the resale market by blocking consumers from reselling on competing resale platforms. Legislation in many states in the US requires consumers should be …

Reputational Considerations Within Prosocial Behavior, Rachel Gershon

Arts & Sciences Electronic Theses and Dissertations

Consumers and companies often consider the welfare of others when making decisions. Consumers might spend their money donating to meaningful causes or choose to purchase from socially responsible companies. Companies must also choose whether and how to prioritize behaving Prosocially or “giving back”. One reason that both companies and individuals behave prosocially is to be viewed positively by others, or in other words, to gain charitable credit. In my research, I explore this impression management motivation behind prosocial behavior.

In Chapter one, I show that low-warmth actors are often assumed to lack communal (or other-oriented) intentions, even when acting generously. …

Morality In Organizations: Ethics, Meaning, And God At Work, Elizabeth Ann Luckman

Arts & Sciences Electronic Theses and Dissertations

This dissertation explores morality in organizations through three distinct research projects. In Chapter 1, I begin to examine a century of business ethics research conducted across business functions in order to bridge the silos of research and teaching that have evolved over time. Preliminary findings suggest that the field of management has produced comparatively more business ethics research than other functions, and that marketing and accounting have examined the ethical implications of their professional responsibilities. Chapter 2 examines the effect of meaning at work on unethical behavior. Through three studies, I find evidence to suggest that individuals with a stronger …

Self-Employment In Later Life: Implications For Financial, Physical, And Mental Well-Being, Cal Halvorsen

Arts & Sciences Electronic Theses and Dissertations

More than one in five working Americans aged 50 and older are self-employed, yet scholarship that examines the relationships between self-employment and personal health and financial well-being is limited. Using data from six biennial waves of the Health and Retirement Study, a nationally-representative panel study of Americans past 50 years of age, this quasi-experimental dissertation documents the characteristics of self-employed older adults in comparison to wage-and-salary workers, as well as compares self-employed and wage-and-salary workers in later life on a set of financial well-being and personal health outcomes. This study incorporates inverse probability of treatment weighting (also referred to as …

Essays In Knowledge Transfer, Leonardo Mayer Kluppel

Arts & Sciences Electronic Theses and Dissertations

This dissertation advances our understanding of when firms are able to get information from outside agents and the impact of that information on innovation. In chapter one, I set up a theoretical model that illuminates how vertical integration changes the incentives for producers to share information with suppliers. Both transaction costs and bargain ability play major roles in information sharing. One result from chapter one is that producers share less information with vertically integrated suppliers. The second chapter tests this prediction, finding robust evidence that once a supplier vertically integrates, it gains fewer spillovers from competitor producers. Finally, the last …

Essays On Financial And Monetary Economics, Xi Wang

Arts & Sciences Electronic Theses and Dissertations

The first part of this dissertation explores an empirical relevance to understand the equity premium puzzle. Since only the wealthiest people invest significant amounts in the stock market (limited participation), it is reasonable to combine the consumption data of the wealthy, instead of aggregate data, with observed asset returns to estimate the risk aversion coefficient (RRA). I approximate the consumption by the rich from two angles: one explores the income and wealth data to back out synthetic consumption directly, and the other explores the sales data to approximate the expenditure by the rich. By using the created indices, the lowest …

On The Wedge Between Theoretical And Actual Prices And Its Implications For Investment Decisions, Luca Pezzo

Arts & Sciences Electronic Theses and Dissertations

State of the arts equilibrium models explain several financial markets' regularities but still miss many important dimensions. My research investigates the existing wedge between theoretical and actual prices and its implications for investment decisions. In the first chapter, I develop a new approach to locate and quantify the wedge between the main-stream Representative Agent pricing of the U.S. market portfolio and actual data. The determinants of the wedge are high uncertain and illiquid recessionary periods where, according to the marginal pricing rules, more efficient portfolios than the market can be formed. Since illiquidity is a major determinant, chapter two and …

A Context And Stakeholder Focused Exploration Of The Sustainability Of Local Organizations In Development, Brad Tucker

Arts & Sciences Electronic Theses and Dissertations

The design and development of this study emerged as the result of the investigator’s work with local nonprofit organizations (NPOs) in the Global South – particularly in Sub-Saharan Africa. Through experience and study, the investigator observed: 1) The conceptualization and the study of organizational sustainability and effectiveness (OS/OE) – both in scholarship and in practice – are fragmented and, while emphasizing the critical importance of context, do not explain how context impacts sustainability. 2) Existing conceptualizations of OS/OE lack the perspectives of key stakeholders – namely the management and staff of the local NPOs themselves. 3) There is a considerable …

Essays In Financial Economics, Jinji Hao

Arts & Sciences Electronic Theses and Dissertations

In the first chapter of my dissertation, I provide a novel framework – the cumulant generating function (cgf) of the market risk on the positive half real line – for studying the market risk which can be replicated by cross sections of index option prices in a model-free manner. Within this unifying framework, independent of the underlying price process, the VIX index measures the height of the cgf at one while the SVIX index proposed by Martin (2016) measures the convexity of the cgf over the interval [0, 2]. A tail index of the market risk, TIX, is proposed based …

Exploring The Puzzle Of Functional Homophily In New Venture Founding Teams, Steven Michael Gray

Arts & Sciences Electronic Theses and Dissertations

Despite the long-term benefits of establishing a founding team with diverse functional knowledge, many entrepreneurs assemble a team of cofounders who are homogenous with respect to functional background. I examine this phenomenon in two empirical settings. First, in a university incubator program that brings together faculty, students, and outside community members, I use survey and audio data to examine the team formation process. I found that entrepreneurs initiate contact with a range of potential cofounders: some of whom possess functional knowledge that is different from the entrepreneur and others who share the same functional background as the entrepreneur. However, conditional …

The Hidden Costs Of Scheduling: Temporal Structure Reduces Task Enjoyment And Contracts Time, Gabriela Nicole Tonietto

Arts & Sciences Electronic Theses and Dissertations

Time is an important but limited resource, and consumers are constantly looking for ways to get more from their time. This has led to the popularity of scheduling as a strategy to help consumers manage and organize their time. Although scheduling is both highly recommended and widely adopted, surprisingly little is known about the psychological effects of scheduling. In this dissertation, I explore the potential effects of scheduling for task enjoyment, perceived time, and time consumption, finding that scheduling may have some important hidden costs. In the first chapter, I examine the effect of scheduling leisure activities. While prior research …

Essays In Entrepreneurship, Innovation And Labor, Andres Gonzalo Hincapie Norena

Arts & Sciences Electronic Theses and Dissertations

I explore the role of experimentation on the career choices of individuals deciding whether to be paid employees or entrepreneurs, and on the decisions of consumers deciding what medical treatment to buy. In the labor market, experimentation entails the accumulation of information that allows individuals to improve their occupational choices. In the product market, experimentation entails discovering the quality of new products and it may have an effect on the evolution of technology: less experimentation by individuals may slow down the process of innovation. I start in Chapter 2 with the observation that most individuals do not start a business …

Operations Issues In Managing Supply Chain Partnership And Sustainability, Seung Hwan Jung

Arts & Sciences Electronic Theses and Dissertations

This dissertation examines important operations issues in dealing with supply chain partnership and sustainability, which are among the key issues firms face in nowadays business situations.In the first chapter, "Co-opetitive component supply partnerships with end-product rivals under information asymmetry: role of dual sourcing and component market efficiency'', we consider opportunities of horizontal cooperation at the component (or intermediate product) supply level between two firms that are rivals at the end-product market. One of our firms is vertically integrated (VI) and has in-house component production capabilities, and may also sell components to its rival. The competitor in the end-product market (CO) …