Subsidizing unit donations: matches,rebates, and discounts compared

Experimental Economics - An influential result in the literature on charitable giving is that matching subsidies dominate rebate subsidies in raising funds. We investigate whether this result...     

Auctions versus bookbuilding: The effects of IPO regulation in Japan

We analyze a regulatory change in the Japanese IPO market that created an abrupt shift from hybrid price-discriminatory auctions to bookbuilding. We find that bookbuilding leads to higher underpricing than hybrid price-discriminatory auctions. Furthermore, we find evidence that price accuracy tends to be higher for auctions than for bookbuilding. The results hold under a variety of OLS specifications and with regression discontinuity designs exploiting the abrupt change of the regulation.     

Effects of greenwashing on financial performance: Moderation through local environmental regulation and media coverage

Recent research suggests that the effect of greenwashing and corporate financial performance (CFP) is ambiguous. This call for study the contextual factors that create contingencies in the greenwashing–CFP relationship. Using a sample of 2816 observations covering 735 Chinese-listed firms in 21 different industries from 2013 to 2017, this research examines the effect of greenwashing on CFP and explores the moderating effects of local environmental regulation, media visibility and media favourability. Results show that greenwashing positively affects CFP and effect weakened with stringent environmental regulations and reversed with low media favourability. Our finding implies that stakeholders could hardly identify greenwashing in the context of an emerging economy with high-level information asymmetry. However, local environmental regulation and negative media coverage could reduce this information asymmetry, making greenwashing easier to be identified. It is the first study to investigate greenwashing–CFP relationship from institutional environment perspective.     

Belief adjustment: a double hurdle model and experimental evidence

Experimental Economics - We present an experiment where subjects sequentially receive signals about the true state of the world and need to form beliefs about which one is true, with payoffs...     

ON URBAN RE-ARRANGEMENTS: A Suite in Five Movements

This movement introduces the ethos of the collective project: its conceptual and practical preoccupations. It focuses on our concern with urban processes on the cusp of change, in the midst of being re-arranged, and thus homes in on the various polyrhythms of intersections, how things come together and diverge, how possibilities open and close in urban contexts of continuously shifting horizons.