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Drivers Of Finished Goods Inventory In The U.S. Automobile Industry, Gerard. P. Cachon, Marcelo Olivares 2010 University of Pennsylvania

Drivers Of Finished Goods Inventory In The U.S. Automobile Industry, Gerard. P. Cachon, Marcelo Olivares

Operations, Information and Decisions Papers

Automobile manufacturers in the U.S. supply chain exhibit significant differences in their days of supply of finished vehicles (average inventory divided by average daily sales rate). For example, from 1995 to 2004, Toyota consistently carried approximately 30 fewer days of supply than General Motors. This suggests that Toyota’s well-documented advantage in manufacturing efficiency, product design, and upstream supply chain management extends to their finished-goods inventory in their downstream supply chain from their assembly plants to their dealerships. Our objective in this research is to measure for this industry the effect of several factors on inventory holdings. We find that two …


Further Examination Of Equity Returns And Seasonal Depression, Steven D. Dolvin, Mark K. Pyles, Qun Wu 2010 Butler University

Further Examination Of Equity Returns And Seasonal Depression, Steven D. Dolvin, Mark K. Pyles, Qun Wu

Scholarship and Professional Work - Business

Seasonal Affective Disorder (SAD) induces investors to shift resources away from risky investments (such as equity) and towards safer alternatives (such as fixed income) during the Fall, while stimulating the opposite action in the Winter. Existing studies, however, fail to account for the possibility that SAD could further motivate investors to shift exposure among different subsets of equity, rather than simply across broad asset categories. We explore this possibility by examining the impact of SAD on the returns of “safe” and “risky” equity sectors (i.e., industries), as well as on equity at different levels of market capitalization. We find the …


Segment-Making And Society-Making Media: What Is A Good Balance?, Joseph Turow 2010 University of Pennsylvania

Segment-Making And Society-Making Media: What Is A Good Balance?, Joseph Turow

Departmental Papers (ASC)

From the introduction:

In an increasingly number of societies, it is commonplace to talk about the movement away from a broadly shared media system to a much more fragmented media system. All agree that media organizations still have—and are expanding—the capability to lead a substantial percentage of earth’s humans to focus on particular events or ideas. The Beijing Olympics comes to mind. At the same time, though, most observers note that public electronic media also have the capacity to reach out to smaller and smaller segments of populations. Part of the reason relates to the large number cable and satellite …


Creating Contagious: How Social Networks And Item Characteristics Combine To Drive Persistent Social Epidemics, Andrew T. Stephen, Jonah A. Berger 2010 University of Pennsylvania

Creating Contagious: How Social Networks And Item Characteristics Combine To Drive Persistent Social Epidemics, Andrew T. Stephen, Jonah A. Berger

Marketing Papers

Why do certain cultural items capture persistent collective interest while others languish? This research integrates psychological and sociological perspectives to provide deeper insight into social epidemics. First, we develop a psychologically plausible individuallevel model of social transmission behavior. We then situate this model in a social network and perform a series of simulations where we vary different item- and networkrelated characteristics in an experimental setting. The results (1) demonstrate how item and network characteristics combine to drive persistent collective enthusiasm and (2) shed light on the underlying mechanisms through which such social epidemics occur. Interest in most items or products …


Message Splitting: Using Attention-Grabbing Material To Increase Prosocial Behavior, Nathanael J. Fast, Jonah A. Berger 2010 University of Pennsylvania

Message Splitting: Using Attention-Grabbing Material To Increase Prosocial Behavior, Nathanael J. Fast, Jonah A. Berger

Marketing Papers

This article examines whether drawing attention to specific parts of appeals for prosocial behavior (i.e., “message splitting”) can increase their effectiveness. Results of four experiments support this idea. Using attention-grabbing cues to guide attention toward the benefits of compliance and away from the costs increased message recipients’ willingness to donate cans of food to a community food drive (Experiment 1), volunteer time to help improve the environment (Experiments 2 and 3) and volunteer time to help further scientific inquiry (Experiment 4). Results of Experiment 4 underscore the proposed mechanism by showing that this message splitting technique reduces, rather than increases, …


A User's Guide To Solving Dynamic Stochastic Games Using The Homotopy Method, Ron N. Borkovsky, Ulrich Doraszelski, Yaroslav Kryukov 2010 University of Pennsylvania

A User's Guide To Solving Dynamic Stochastic Games Using The Homotopy Method, Ron N. Borkovsky, Ulrich Doraszelski, Yaroslav Kryukov

Marketing Papers

This paper provides a step-by-step guide to solving dynamic stochastic games using the homotopy method. The homotopy method facilitates exploring the equilibrium correspondence in a systematic fashion; it is especially useful in games that have multiple equilibria. We discuss the theory of the homotopy method and its implementation and present two detailed examples of dynamic stochastic games that are solved using this method.


A Theory Of Regular Markov Perfect Equilibria In Dynamic Stochastic Games: Genericity, Stability, And Purification, Ulrich Doraszelski, Juan F. Escobar 2010 University of Pennsylvania

A Theory Of Regular Markov Perfect Equilibria In Dynamic Stochastic Games: Genericity, Stability, And Purification, Ulrich Doraszelski, Juan F. Escobar

Marketing Papers

This paper studies generic properties of Markov perfect equilibria in dynamic stochastic games. We show that almost all dynamic stochastic games have a finite number of locally isolated Markov perfect equilibria. These equilibria are essential and strongly stable. Moreover, they all admit purification. To establish these results, we introduce a notion of regularity for dynamic stochastic games and exploit a simple connection between normal form and dynamic stochastic games.


Investor Protection, Equity Returns, And Financial Globalization, Mariassunta Giannetti, Yrjo Koskinen 2010 University of Pennsylvania

Investor Protection, Equity Returns, And Financial Globalization, Mariassunta Giannetti, Yrjo Koskinen

Finance Papers

We study the effects of investor protection on stock returns and portfolio allocation decisions. In our theoretical model, if investor protection is weak, wealthy investors have an incentive to become controlling shareholders. In equilibrium, the stock price reflects the demand from both controlling shareholders and portfolio investors. Due to the high demand from controlling shareholders, the price of weak corporate governance stocks is not low enough to fully discount the extraction of private benefits. Thus, stocks have lower expected returns when investor protection is weak. This has implications for domestic and foreign investors’ stockholdings. In particular, we show that portfolio …


The Equity Premium Implied By Production, Urban J. Jermann 2010 University of Pennsylvania

The Equity Premium Implied By Production, Urban J. Jermann

Finance Papers

This paper studies the determinants of the equity premium as implied by producers’ first-order conditions. A simple closed form expression is presented for the Sharpe ratio as a function of investment volatility and technology parameters. Calibrated to the US postwar economy, the model can match the historical first and second moments of the market return and the risk-free interest rate. The model also generates a very volatile Sharpe ratio and market price of risk.


Limited Participation And Consumption-Saving Puzzles: A Simple Explanation And The Role Of Insurance, Todd A. Gormley, Hong Liu, Guofu Zhou 2010 University of Pennsylvania

Limited Participation And Consumption-Saving Puzzles: A Simple Explanation And The Role Of Insurance, Todd A. Gormley, Hong Liu, Guofu Zhou

Finance Papers

In this paper, we show that the existence of a large, negative wealth shock and insufficient insurance against such a shock could explain both the limited stock market participation puzzle and the low-consumption–high-savings puzzle. We then conduct an empirical analysis on the relation between household portfolio choices and access to private insurance and various types of government safety nets. The empirical results demonstrate that a lack of insurance against large, negative wealth shocks is positively correlated with lower participation rates and higher saving rates. Overall, the evidence suggests an important role of insurance in household investment and savings decisions.


Replications Of Forecasting Research, J. Scott Armstrong 2010 University of Pennsylvania

Replications Of Forecasting Research, J. Scott Armstrong

Marketing Papers

We examined the frequency of replications published in the two leading forecasting journals, the International Journal of Forecasting (IJF) and the Journal of Forecasting (JoF). Replications in the IJF and JoF comprised 9.4% of the empirical papers. This compares with various areas of management science ranging from 2.2% in the Journal of Marketing Research to 18.1% in the American Economic Review. We also found that 36.2% of replications in forecasting journals provided full support, 44.7% partial support, and 19.1% no support for initial study findings. Given the importance of replications, we recommend steps to encourage replications, such as requiring full-disclosure …


Lululemon’S Commitment To The Environment: A Tangle Of Seaweed, Suppliers, And Social Responsibility, A. Erin Bass 2010 University of Nebraska at Omaha

Lululemon’S Commitment To The Environment: A Tangle Of Seaweed, Suppliers, And Social Responsibility, A. Erin Bass

Marketing and Management Faculty Proceedings & Presentations

It was the morning of Wednesday, November 14, 2007. The article on the front page of the New York Times Business Section read “‘Seaweed’ Clothing Has None, Tests Show.” The story asserted that one of Lululemon’s product lines, VitaSea, which purported to contain a seaweed fiber designed to release marine amino acids, minerals and vitamins into the skin upon contact with moisture, contained no such ingredient. Both Chip Wilson, Chairman and Founder of athletic wear retailer Lululemon, and Robert Meers, Lululemon’s CEO, were about to embark on their first damage-control mission since the company’s Initial Public Offering in July. This …


Hybrid Graduate Education: Assessing Student Comfort With Technology Interventions, Martin Sivula 2010 Johnson & Wales University - Providence

Hybrid Graduate Education: Assessing Student Comfort With Technology Interventions, Martin Sivula

Technology

This pilot study examines a cohort of fourteen, doctoral, graduate students over the last year and one-half of their hybrid (both face-to-face and on-line) program. This study’s purpose was to determine their level of comfort with the new technologies (Web 2.0 software) both before and after intended learning interventions. Several theoretical models concerning technology users’ preferences, attitudes, tasks, Task-Technology Fit (TTF), and student engagement provided frameworks for a conceptual model for the eventual course design, assignments, and learning interventions (Hersey & Blanchard, 1977; Davis, 1986; Davis et al., 1989; Goodhue & Thompson, 1995; Zigurs & Buckland, 1998; Kearsley & Shneiderman, …


Project Formation And The Motivations And Challenges Of The Principal Investigator Role In Publicly Funded Research, Paul O'Reilly, Conor O'Kane, James Cunningham, Agnes Maciocha, Vincent Mangematin 2010 Technological University Dublin

Project Formation And The Motivations And Challenges Of The Principal Investigator Role In Publicly Funded Research, Paul O'Reilly, Conor O'Kane, James Cunningham, Agnes Maciocha, Vincent Mangematin

Conference Papers

The principal investigators (PI) of publicly funded research projects are the key actors charged with direct responsibility for directing the research, reporting to the funding agency, and completing the project. Since the beginning of the 1990s the requirements for academic research and the management of academic research have undergone important changes, with the principal investigator now operating in a more complex environment and moved onto centre stage of industrial policy. Despite this shift, we continue to have a poor understanding of the PI role at a micro level. Set in an Irish context, this research employs thirty in-depth interviews with …


A Cost Benefit Analysis Of Proposed Picture Archiving And Communications System Upgrades For Ohio Health Radiology, Daniel C. Ewald 2010 Wright State University - Main Campus

A Cost Benefit Analysis Of Proposed Picture Archiving And Communications System Upgrades For Ohio Health Radiology, Daniel C. Ewald

Masters Culminating Experiences (1993-2011)

OhioHealth™ is a family of not-for-profit, faith-based hospitals and healthcare organizations serving patients in central Ohio since 18911. The radiology department consists of a group of 59 radiologists, who service 5 hospitals in Columbus, Springfield, Newark, and Chillicothe. Beginning in 1999, the group transitioned to a system that allowed the doctors to view CT scans and MRI exams digitally. Until that time the doctors were required to read exams from printed images one at a time. For its time, this system known as “Synapse,” was considered somewhat revolutionary. It allowed the group which functions as an independent business separate from …


Facilitators And Obstacles Of Intercultural Business Communication For American Companies In China: Lessons Learned From The Ups Case, Hongmei Gao, Penelope B. Prime 2010 Kennesaw State University

Facilitators And Obstacles Of Intercultural Business Communication For American Companies In China: Lessons Learned From The Ups Case, Hongmei Gao, Penelope B. Prime

International Business Faculty Publications

This article analyzes how the execution of business strategy for global enterprises is shaped by the dual challenges of communicating in a different national culture and working in a changing economic environment. The article develops a framework from the UPS case in China to illustrate the key components of strategy for US companies operating businesses in China. The article proposes that Chinese-American communication effectiveness can be achieved through overcoming fi ve obstacles: cultural multiplicity, relationship/ task orientation, time concept, business style difference, and language use, while utilizing fi ve facilitators: pragmatism, gender equality, English, American pop culture, and a “big …


Educational Attainment And Career Success In The Gcc: Does Gender Matter?, Mourad Dakhli, Juliet Dinkha, Monica Matta 2010 Georgia State University

Educational Attainment And Career Success In The Gcc: Does Gender Matter?, Mourad Dakhli, Juliet Dinkha, Monica Matta

International Business Faculty Publications

Extensive literature on labor markets has supported the proposition that gender is one of the most common attributes that explains disparity in wages, benefits, promotion, and other organizational achievement indicators. According to several scholars, work organizations can be treated as arenas on which social conflicts between different groups of employees take place. Many acknowledge that women in the GCC area have made great strides in achieving near-equality when it comes to educational attainment. In fact, recent studies by the World Bank and other regional and international agencies have shown that women in a number of GCC countries now constitute a …


The Extreme Risk Problem For Monetary Policies Of The Euro-Candidates Countries, Hubert Gabrisch, Lucjan T. Orlowski 2010 University Library of Munich, Germany

The Extreme Risk Problem For Monetary Policies Of The Euro-Candidates Countries, Hubert Gabrisch, Lucjan T. Orlowski

WCBT Working Papers

We argue that monetary policies in euro-candidate countries should also aim at mitigating excessive instability of the key target and instrument variables of monetary policy during turbulent market periods. Our empirical tests show a significant degree of leptokurtosis, thus prevalence of tail-risks, in the conditional volatility series of such variables in the euro-candidate countries. Their central banks will be well-advised to use both standard and unorthodox (discretionary) tools of monetary policy to mitigate such extreme risks while steering their economies out of the crisis and through the euroconvergence process. Such policies provide flexibility that is not embedded in the Taylor-type …


A Note On Optimal "Riskless" And "Risk" Prices For The Newsvendor Problem With An Assembly Cost, Mingming LENG, Mahmut PARLAR 2010 Department of Computing and Decision Sciences, Lingnan University

A Note On Optimal "Riskless" And "Risk" Prices For The Newsvendor Problem With An Assembly Cost, Mingming Leng, Mahmut Parlar

Staff Publications

For an assemble-to-order Örm operating in a single period, we Önd that, for the multiplicative demand case the optimal riskless price may or may not be higher than the optimal risk price. However, for the additive demand case, the optimal riskless price is always greater than the optimal risk pric


The Burger King Revolution: How Las Vegas Bounced Back, 1983-1989, David G. Schwartz 2010 University of Nevada, Las Vegas

The Burger King Revolution: How Las Vegas Bounced Back, 1983-1989, David G. Schwartz

Library Faculty Publications

Most who have considered Las Vegas history have concluded that not much happened in Las Vegas gaming between the openings of the original MGM Grand (1973) and Mirage (1989). In fact, several structural changes during the 1980s had already reversed a declining appeal. Responding to three crises—competition from Atlantic City, a national economic downturn, and the MGM Grand fire—Las Vegas casino operators began to draw more extensively on a middle-class mass market. Capitalizing on the “Burger King Revolution,” Strip casinos drew more gamblers who, on average, played less, and slot machines displaced table games as the industry’s leading revenue producer. …


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