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SSRN Research Paper Series
The Social Science Research Network’s Research Paper Series includes working papers produced by Stanford GSB the Rock Center.
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Risk Sharing and Asset Prices: Evidence From a Natural Experiment
When countries liberalize their stock markets, firms that become eligible for purchase by foreigners (investible), experience an average stock price revaluation of 15.1 percent. Since the covariance of the mean investible firms stock return with…
Selection Criteria for Roll Call Votes
On grounds of inclusion of undesirable votes (type I errors) and exclusion of desirable votes (type II errors), we question the convention of selecting only final passage votes for roll call analysis. We propose an alternative selection method…
Sell the Plant? The Impact of Contract Manufacturing on Innovation, Capacity and Profitability
In the electronics industry and others, Original Equipment Manufacturers (OEMs) are selling their production facilities to contract manufacturers (CMs). The CMs achieve high capacity utilization through pooling (supplying many different OEMs).…
Strategy as Vector and the Inertia of Co-evolutionary Lock-in
This comparative longitudinal study of Andy Groves tenure as Intel Corporations CEO (1987-1998) documents how he moved Intels strategy-making process from an internal ecology model to the classical rational actor model. His creation of a highly…
Structural Inertia and Organizational Change Revisited I: Architecture, Culture and Cascading Change*
This paper develops a formal theory of the structural aspects of organizational change. It concentrates on the significance of changes in an organization’s architecture and culture, each represented as a code system. A change is significant when…
Structural Inertia and Organizational Change Revisited II: Complexity, Opacity, and Change*
This paper extends a formal theory of structural aspects of organizational change initiated by Hannan, Polos, and Carroll (2002a, hereafter HPCa). This analysis focuses on the implications of limited foresight of the cascades of consequences of…
Structural Inertia and Organizational Change Revisited III: The Evolution of Organizational Inertia*
Building on a formal theory of the structural aspects of organizational change initiated in Hannan, Polos, and Carroll (2002a, 2002b), this paper focuses on structural inertia. We define inertia as a persistent organizational resistance to…
Subjective Reasoning in Dynamic Games
A unified framework is developed for representation of, and reasoning about dynamic games. A game is described by the subjective knowledge of players at hypothetical situations - the epistemic game form. Subjective knowledge - termed confidence…
The BP Amoco/ARCO Merger: Alaskan Crude Oil
The merger of British Petroleum and Atlantic Richfield as proposed would have made BP the sole operator and 70 percent owner of Alaskas oil fields. The Federal Trade Commission challenged the merger partly out of concern for higher West Coast…
The Psychology of System Justification and the Palliative Function of Ideology
In this chapter, we trace the historical and intellectual origins of system justification theory, summarize the basic assumptions of the theory, and derive 18 specific hypotheses from a system justification perspective. We review and integrate…
The Relation Between Auditor's Fees for Non-Audit Services and Earnings Quality
We examine the association between the provision of non-audit services and earnings quality. Because of concerns regarding the effect of non-audit services on financial reporting credibility, the Securities and Exchange Commission recently issued…
Uncertainty about Uncertainty and Delay in Bargaining
We study a one-sided offers bargaining game in which the buyer has private information about the value of the object and the seller has private information about his beliefs about the buyer. We show that this uncertainty about uncertainties…
When Do Employees Become Entrepreneurs?
Many new firms are started by entrepreneurs who got the idea while working for their previous employer. Sometimes employers also agree to develop their employees’ ideas internally. This paper develops a multi-task incentives model to analyze…
When Is Honesty The Best Policy? The Effect Of Stated Company Intent On Consumer Skepticism
Prior research suggests that consumers evaluate firms more negatively if they attribute the firms business practices to firm-serving motivations rather than to motivations that serve the public good. The authors propose an alternative hypothesis…
Which Romans do "as Romans do"? Individual differences in conformity to cultural conflict resolution scripts
The current research investigates the proposal that cross-cultural differences in conflict resolution choices are driven by culturally conferred cognitive scripts-expectancies about appropriate actions in a setting and outcomes they will evoke.…
Who Cares About Shareholders? Arbitrage-Proofing Mutual Funds
As is becoming increasingly widely known, mutual funds often calculate their net asset values using stale prices, which causes their daily returns to be predictable. By trading on this predictability, investors can earn 35-70 percent per year in…
Opportunity Counts: Teams and the Effectiveness of Production Incentives
This paper investigates the individual and joint effects of group incentive pay and problem-solving teams on productivity. To estimate models of adoption of these work practices and models of the effects of the work practices on productivity, we…
Allocation of Access Rights to Rail Network Infrastructure
Access rights on a transmission network possess high degree of inherent differentiation. On a rail network this is further complicated by the need to meet feasibility constraints in scheduling. Common approaches to access pricing focus on…
An Empirical Analysis of the SEC's 1992 Proxy Reforms on Executive Compensation
We examine the SEC’s 1992 proxy reforms that expanded the amount of information about executive pay that is required to be disclosed in corporate proxy statements and permitted shareholders to file proxy proposals about executive compensation.…
An Industry Explanation of Global Account Management
Using globalization and contingency theory, this paper develops a model of global account management (GAM). The model comprises the multinational suppliers industry globalization drivers, the multinational customers extent of globally coordinated…