In this paper, we estimate the impact of receiving an NIH grant on subsequent publications and citations. Our sample consists of all applications (unsuccessful as well as successful) to the NIH from 1980 to 2000 for standard research grants (R01s). Both OLS and IV estimates show that receipt of an NIH research grant (worth roughly $1.7 million) leads to only one additional publication over the next five years, which corresponds to a 7 percent increase. The limited impact of NIH grants is consistent with a model in which the market for research funding is competitive, so that the loss of an NIH grant simply causes researchers to shift to another source of funding. 相似文献
Prior research suggests that material goods (e.g., electronic gadgets) often provide less happiness than do experiences (e.g., movies). As a boundary condition, the present research proposes a theory-based yet actionable solution to overcome the happiness disadvantage of material goods. Three studies show that when material goods are anthropomorphized (i.e., imbued with humanlike characteristics), consumers gain enhanced feelings of consumption sociality and, in turn, derive a boost in happiness such that they gain as much happiness from these material goods as from experiences. With mediation and moderation approaches, we provide process evidence for these enhanced feelings of consumption sociality that are typically lacking with material purchases, which are prone to being consumed alone rather than with other people. Thus, the present research suggests that even in the absence of other people, consumers can gain greater happiness from their material goods by perceiving them as human.
This study investigated employee perceptions of ethical climates in a sample of Russian organizations and the relationship between ethical climate and behaviors believed to characterize successful managers. A survey of managerial employees in Russia (n = 136) indicates that "rules" was the most reported and "independence" was the least reported ethical climate type. Those who perceived a strong link between success and ethical behavior report high levels of a "caring" climate and low levels of an "instrumental" climate. Implications for practitioners and researchers are discussed. 相似文献
Though word-of-mouth (w-o-m) communications is a pervasive and intriguing phenomenon, little is known on its underlying process of personal communications. Moreover as marketers are getting more interested in harnessing the power of w-o-m, for e-business and other net related activities, the effects of the different communications types on macro level marketing is becoming critical. In particular we are interested in the breakdown of the personal communication between closer and stronger communications that are within an individual's own personal group (strong ties) and weaker and less personal communications that an individual makes with a wide set of other acquaintances and colleagues (weak ties).We use a technique borrowed from Complex Systems Analysis called stochastic cellular automata in order to generate data and analyze the results so that answers to our main research issues could be ascertained. The following summarizes the impact of strong and weak ties on the speed of acceptance of a new product:The influence of weak ties is at least as strong as the influence of strong ties. Despite the relative inferiority of the weak tie parameter in the model's assumptions, their effect approximates or exceeds that of strong ties, in all stages of the product life cycle.External marketing efforts (e.g., advertising) are effective. However, beyond a relatively early stage of the growth cycle of the new product, their efficacy quickly diminishes and strong and weak ties become the main forces propelling growth. The results clearly indicate that information dissemination is dominated by both weak and strong w-o-m, rather than by advertising.The effect of strong ties diminishes as personal network size decreases. Market attributes were also found to mediate the effects of weak and strong ties. When personal networks are small, weak ties were found to have a stronger impact on information dissemination than strong ties. 相似文献
The authors present suggestions by graduate students from a range of economics departments for improving the first-year core sequence in economics. The students identified a number of elements that should be added to the core: more training in building microeconomic models, a discussion of the methodological foundations of model-building, more emphasis on institutions to motivate and contextualize macroeconomic models, and greater focus on econometric practice rather than theory. The authors hope that these suggestions will encourage departments to take a fresh look at the content of the first-year core. 相似文献
This article examines the impact of participants’ age distribution on the asset allocation of Dutch pension funds, using a unique data set of pension fund investment plans for 2007. Theory predicts a negative effect of age on (strategic) equity exposures. We observe that a 1‐year higher average age in active participants leads to a significant and robust reduction of the strategic equity exposure by around 0.5 percentage point. Larger pension funds show a stronger age‐equity exposure effect. The average age of active participants influences investment behavior more strongly than the average age of all participants, which is plausible as retirees no longer possess any human capital. 相似文献
This paper formalizes the following intuition about open-market share repurchases. Firms do open-market share repurchases to return free cash, which would otherwise be wasted. However, when the firm goes to buy its own shares with this cash, it has inside information and hence the actual execution is characterized by adverse selection. The market knows that the firm has inside information, and consequently the ask price is high to compensate for this adverse selection problem. This implies that, all else equal, the greater the adverse selection problem compared to the cash waste problem, the higher the ask price, and, therefore, the wider the bid–ask spread and the lower the share repurchase completion rate. We test this implication on a sample of U.S. firms and report evidence consistent with the model. 相似文献