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Though “teams” are supposed to work together for the benefit of the firm, suboptimal outcomes may emerge when individuals within a team are more concerned with their own status and outcomes relative to their “teammates,” behaving as if they are competitors. Using a version of the stag hunt coordination game, we develop hypotheses regarding the role of status and competitiveness on coordination on Pareto optimal solutions. We test these hypotheses using three studies, with manipulations for both role and status. Status is found to play a significant role, resulting in suboptimal outcomes for competitors but not teammates. 相似文献
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ESTIMATING THE EFFECTS OF BROWNFIELDS AND BROWNFIELD REMEDIATION ON PROPERTY VALUES IN A NEW SOUTH CITY 下载免费PDF全文
Peter M. Schwarz Gwendolyn L. Gill Alex Hanning Caleb A. Cox 《Contemporary economic policy》2017,35(1):143-164
Using data from Charlotte, NC, a New South city without a legacy of heavily contaminated properties, we find the distance from unremediated brownfields—typically former industrial properties believed to have modest contamination—to have no effect on residential sales values, but proposed cleanup and actual remediation have positive, substantial, and significant effects especially within 0.5 miles of the brownfield. Our results are consistent whether we examine all property values within a given distance, such as 0.5 miles, or examine discrete distances, such as 0.3–0.5 miles. An estimate of the benefits is on the order of $4 million. (JEL Q51, Q24, Q28, R52) 相似文献
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We provide a new test of the informational efficiency of trading in stock options in the context of stock split announcements. These announcements tend to be associated with positive abnormal returns. Our traditional event study results show abnormal returns that are significantly lower for optioned than non-optioned stocks, whether traded on the NYSE, Amex, or Nasdaq. After controlling for market returns, capitalization, book-to-market ratio, and trading volume, we find that the abnormal returns are significantly lower for NYSE/Amex optioned than non-optioned stocks. Although the results for Nasdaq stocks are not as clear, the overall effects tend to be lower after optioning. These findings are consistent with the hypothesis that the prices of optioned stocks embody more information, diminishing the impact of the stock split announcement. They provide new evidence of the beneficial effects of options on their underlying stocks. 相似文献
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Insider trading as a signal of private information 总被引:7,自引:0,他引:7
There is substantial evidence that insider trading is presentaround corporate announcements and that this insider tradingis motivated by private information. Using real estate investmenttrusts that choose to reappraise themselves as our sample, weestablish that the appraisals contain information, but findno market response to the public announcement of this informationin these appraisals. We consider two possible explanations forthis inconsistency: the first that the appraisal informationis not highlighted in earnings reports and hence remains unobserved;and the second that insiders trade on the appraisal informationin the time that elapses between the appraisal and its publicannouncement We find strong support for the second hypothesis,with insiders buying (selling) after they receive favorable(unfavorable) appraisal news, especially for negative appraisals.We also find that positive (negative) appraisals and net insiderbuying (selling) elicit significant positive (negative) abnormalreturns during the appraisal period 相似文献
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Developing trust in a company is a significant part of building the company-consumer relationship. Previous studies have sought to identify the positive consequences of trust such as loyalty and repurchase, but the question of what builds trust remains largely unanswered. To answer the question, we developed a model that depicts the relationships among transparency, social responsibility, trust, attitude, word-of-mouth (WOM) intention, and purchase intention. An online survey was conducted with a US nationwide sample of 303 consumers, and the data were analyzed using the structural equation modeling method. The results indicated that consumers’ perceptions of a corporation’s efforts to be transparent in the production and labor conditions and to be socially responsible by giving back to the local community directly affected these consumers’ trust and attitudes toward the corporation, and indirectly affected their intentions to purchase from and spread positive WOM about the corporation. Theoretical and practical implications are discussed. 相似文献
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Contemporary military practice relies more and more on technology and its artefacts and seem to have become, thereby, large-scale socio-technological systems; systems in which the social and the technological are closely tied together. An important issue in these kinds of systems, especially military ones, is how to safely use this technology. This paper reviews the literature for research on risk and safety in large-scale socio-technological systems for their ability to account for the complex dynamics from which safety in these kinds of systems tends to emerge – or not. After this, it evaluates some current accounts of risk and safety in the military specifically, so as to assess the ‘status’ – or analytical strength – of accounts of risk and safety in this domain. More rigour is needed in evaluations of risk and safety of technology in the military so as to provide analyses with sufficient analytic strength. This rigour, it turns out, can often be found in the interdisciplinary STS (science, technology and society) literature that, until today however, does not often seem to address risk and safety of large-scale socio-technological systems directly, and which seems to pay even less attention to risk and safety in the military. 相似文献
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The objective of this research study is to identify the constructs and factors important to the user-centric transformation of e-governments. The research design follows the comprehensive Unified Theory of Acceptance and Use of Technology model. The primary data for the research were collected from potential and current users of e-government services in the United Arab Emirates. Exploratory factor analysis was used to extract the important constructs from the 19 factors identified from the literature. Regression analysis was used to identify the influence of individual constructs on overall satisfaction, while correlation analysis was used to identify the relationship between Internet usage and user satisfaction. Analysis of variance and t-test were used to identify potential differences among demographic factors and their overall satisfaction with e-government services. This study identifies confidentiality and users’ trust and attitudes toward using technology as key determinants of overall satisfaction and the subsequent adoption of e-government services. The study also identifies significant differences in how different genders adopt the use of e-government services. 相似文献
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Gwendolyn P. Webb 《The Journal of Financial Research》1999,22(3):247-263
Before an exchange listing, stock performance is exceptionally high. Earlier research reports that post-listing performance is poor. I document that the post-listing performance of most firms that list on either the American Stock Exchange or the New York Stock Exchange differs little from that of similar stocks that do not list. However, listing stocks that experience the highest pre-listing performance underperform their control stocks after listing. This finding supports the hypothesis that managers can time exchange listings around a peak in stock performance. 相似文献
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