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Successful Strategies for Product Rollovers
Sustaining Technology Leadership Can Require Both Cost Competence and Innovative Competence
Some firms, particularly in high-tech, appear to view technology and cost leadership as separate and distinct ways of achieving high profiles within a given product market. In contrast, we develop a model of technology competition suggesting that…
Temporal Differentiation and the Market for Second Opinions
This paper studies the pricing of “private information”, that is information which is of value only (or mainly) for a specific consumer. In private information markets, firms are familiar with their client’s decision problem and consumers…
The Association Between Earnings Sensitivity Measures and Market Determined Risk Exposures: The Case of Oil Price Risk for Petroleum Refiners
Using a sample of petroleum refining firms, this paper provides evidence that earnings sensitivity measures analogous to those mandated by the SEC’s (1997) new market risk disclosure rules are positively associated with stock market determined…
The Boundaries of the Firm Revisited
Both Transaction Cost Economics and Property Rights Theories offer explanations of the boundaries of the firm based on ideas of ex post bargaining and hold-up. These theories are quite distinct in their empirical predictions, but neither offers a…
The Boundaries of the Firm Revisited
Both transaction cost-economics and property-rights theories offer explanations of the boundaries of the firm based on ideas of ex post bargaining and holdup. These theories are quite distinct in their empirical predictions, but neither offers a…
The Characteristics and Valuation of Loss Reserves of Property Casualty Insurers
The extent to which management influences accounting recognized in financial statements and the extent to which investors are able to identify such influence are fundamental questions in financial reporting research. This study contributes to…
The Closing of the American Mind Versus the Closing of the Chinese Mind: The Impact of Need for Cognitive Closure on Social Attribution Varies Across Cultures as a Function of Implicit Theories
We propose that need for closure (NFC) leads attributors to respond to an ambiguous social stimulus by increasing reliance on implicit theories received from acculturation. Hence, the influence of NFC should be shaped by the knowledge structures…
The Disparity Between the Actual and Assumed Power of Self-interest
The Evolution of Norms
This paper analyzes the emergence of norms from an evolutionary perspective. It is hypothesized that norms diffuse not necessarily because they are functional for the communities in which they are embedded but because in certain selection…
The Human Equation: Building Profits by Putting People First
Why is common sense so uncommon when it comes to managing people? How is it that so many seemingly intelligent organizations implement harmful management practices and ideas? In his provocative new book, The Human Equation, bestselling…
The Managed Care Backlash and the Task Force in California
Signs of a managed care backlash in California are increasing. This paper reports and interprets the recently completed work of the California Managed Health Care Improvement Task Force, focusing on the managed care backlash and the state’s…
The Optimal Enforcement of Insider Trading Regulations
Regulating insider trading lessens the adverse selection problem facing market makers, enabling them to quote better prices. An Optimal enforcement policy must balance these benefits against the costs of enforcement. Such a policy must…
The Predictive Power of Internet-Based Product Concept Testing Using Visual Depiction and Animation
We measure the predictive accuracy of Internet-based product concept testing that incorporates virtual prototypes of new products. The method employs a two-factor conjoint analysis of prototypes and prices to enable a design team to select the…
The Role of Book Value in Equity Valuation: Does the Stock Variable Merely Proxy for Relevant Past Flows?
We propose an alternative explanation for the value-relevance of book value. Specifically, we suggest that book value can have an indirect role in valuation even under an earnings capitalization framework. We first show that past earnings are…
The Role of Discretion in the Criminal Justice System
The Use and Performance Effect of Global Account Management: An Empirical Analysis Using Structural Equations Modeling
We develop a model of the extent to which multinational companies use global account management, its determinants, and its effect on performance. A study of 165 companies shows that use and performance effects are positively related to customers…
The Vertical Organization of Industry: Systems Competition Versus Component Competition
We discuss two contrasting styles of vertical organization of complementary activities or components in an industry: systems competition versus component competition. When firms’ competencies differ, systems competition is not a perfect…