Business Commons^™

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 Mutual Funds, Aadhaar Verma

Doctor of Business Administration Dissertations

This dissertation examines mutual fund portfolio formation, the economic forces that determine how fund managers construct their portfolios, and the market effects of fund portfolio disclosures.

In the first chapter of my dissertation, I study how funds modify their portfolios around disclosure dates in order to cater to their investors’ non-financial preferences. Using social norms and investor boycotts surrounding tobacco and firearm sectors as a proxy for non-financial preferences, I find that these stocks experience significant negative returns on portfolio disclosure dates and significant positive returns on the day after the portfolio disclosure. I also find that funds accelerate their …

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 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.

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 …

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 …

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 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 …

Banks Vs Shadow Banks: Evidence From The 2015 Fha Mortgage Insurance Premium Cut, Pornteera Tungtrakul Jefferson

Doctor of Business Administration Dissertations

My paper uses the 2015 surprise mortgage insurance premium (MIP) cut in the FHA loan market to study banks’ and shadow banks’ role in the residential mortgage market and how shadow banks increase their market share or take away the mortgage demand from traditional banks. I use the triple-differences method to study the rise of shadow banks, a MIP cut experiment. My results found that shadow banks are much more active in the FHA market and that they expand access to credit to borrowers by taking away some demand from traditional banks. I also study the impact of the MIP …