Business Commons^™

Cross-Country Evidence On The Preliminary Effects Of Patent Box Regimes On Patent Activity And Ownership, Sebastien J. Bradley, Estelle Dauchy, Leslie Robinson

Sebastien J Bradley

This paper evaluates the initial impacts of patent box regimes in light of their primary stated objectives: stimulating domestic innovation and retaining mobile patent income to limit base erosion. Despite their lack of nexus requirements, we find that patent box regimes yield a 3 percent increase in new patent applications for every percentage point reduction in the tax rate on patent income. We find no significant impact of these regimes on deterring outward cross-border attribution of patent ownership, or on attracting ownership of foreign inventions. Increased patenting activity hence appears focused on inventions involving co-located (domestic) patent owners and inventors.

Capacity Planning With Financial And Operational Hedging In Low‐Cost Countries, Lijian Chen, Shanling Li, Letian Wang

Lance (Lijian) Chen

The authors of this paper outline a capacity planning problem in which a risk-averse firm reserves capacities with potential suppliers that are located in multiple low-cost countries. While demand is uncertain, the firm also faces multi-country foreign currency exposures. This study develops a mean-variance model that maximizes the firm’s optimal utility and derives optimal utility and optimal decisions in capacity and financial hedging size. The authors show that when demand and exchange rate risks are perfectly correlated, a risk- averse firm, by using financial hedging, will achieve the same optimal utility as a risk-neutral firm. In this paper as well, …

A Simulation-Based Approach To Solve A Specific Type Of Chance Constrained Optimization, Lijian Chan

Lance (Lijian) Chen

We solve the chance constrained optimization with convex feasible set through approximating the chance constraint by another convex smooth function. The approximation is based on the numerical properties of the Bernstein polynomial that is capable of effectively controlling the approximation error for both function value and gradient. Thus, we adopt a first-order algorithm to reach a satisfactory solution which is expected to be optimal. When the explicit expression of joint distribution is not available, we then use Monte Carlo approach to numerically evaluate the chance constraint to obtain an optimal solution by probability. Numerical results for known problem instances are …

Re-Solving Stochastic Programming Models For Airline Revenue Management, Lijian Chen, Tito Homem-De-Mello

Lance (Lijian) Chen

We study some mathematical programming formulations for the origin-destination model in airline revenue management. In particular, we focus on the traditional probabilistic model proposed in the literature. The approach we study consists of solving a sequence of two-stage stochastic programs with simple recourse, which can be viewed as an approximation to a multi-stage stochastic programming formulation to the seat allocation problem. Our theoretical results show that the proposed approximation is robust, in the sense that solving more successive two-stage programs can never worsen the expected revenue obtained with the corresponding allocation policy. Although intuitive, such a property is known not …

Ancillary Service Capacity Optimization For Both Electric Power Suppliers And Independent System Operator, Lijian Chen, Dengfeng Sun, Guang Li

Lance (Lijian) Chen

Ancillary Services (AS) in electric power industry are critical to support the transmission of energy from generators to load demands while maintaining reliable operation of transmission systems in accordance with good utility practice. The ancillary services are procured by the independent system operator (ISO) through a process called the market clearing process which can be modeled by the partial equilibrium from the ends of ISO. There are two capacity optimization problems for both Market participants (MP) and Independent System Operator (ISO). For a market participant, the firm needs to determine the capacity allocation plan for various AS to pursue operating …

Capacity-Driven Pricing Mechanism In Special Service Industries, Lijian Chen, Suraj M. Alexander

Lance (Lijian) Chen

We propose a capacity driven pricing mechanism for several service industries in which the customer behavior, the price demand relationship, and the competition are significantly distinct from other industries. According our observation, we found that the price demand relationship in these industries cannot be modeled by fitted curves; the customers would neither plan in advance nor purchase the service strategically; and the competition would be largely local. We analyze both risk neutral and risk aversion pricing models and conclude the proposed capacity driven model would be the optimal solution under mild assumptions. The resulting pricing mechanism has been implemented at …

Review: John S. Ahlquist And Margaret Levi, 'In The Interest Of Others: Organizations And Social Activism" (Princeton & Oxford: Princeton University Press, 2013), Rowan Cahill

Rowan Cahill

Review of the comparative study of trade union organizational behaviour by John S. Ahlquist and Margaret Levi, 'In the Interest of Others: Organizations and Social Activism" (Princeton & Oxford: Princeton University Press, 2013), which involves a target group of US and Australian trade unions.

Herding Behavior In Student Managed Investment Funds, Craig Caldwell, Steven Dolvin

Craig B. Caldwell

Student Managed Investment Funds (SMIFs) have grown in number; unfortunately, there has been little research on the efficacy of these funds. We fill this gap by exploring the potential consequences of student investment management. We find that investment decisions are often impacted by herding behavior, which results in underperformance. We further examine characteristics that influence the likelihood of herding, finding that pre-existing knowledge of the company under consideration, as well as amplified time constraints, increase the probability that herding occurs. In contrast, we find that increased education, both general and targeted behavioral education, reduces the likelihood (and impact) of herding.

Contract Breach As A Trigger For Adjustment To The Psychological Contract During The First Year Of Employment, Stephanie C. Payne, Satoris S. Culbertson, Yvette P. Lopez, Wendy R. Boswell, Eric J. Barger

Yvette P. Lopez

No abstract provided.

Leadership Succession And Performance: An Application To College Football, Stephanie L. Dohrn, Yvette P. Lopez, Gilles Reinhardt

Yvette P. Lopez

No abstract provided.

Navigating Uncertainty: The Survival Strategies Of Religious Ngos In China, Jonathan Tam, Reza Hasmath

Reza Hasmath