Short sales,stealth trading,and the suspension of the uptick rule

Prior work contends that informed short sellers do not stealth trade because the uptick rule produces “execution uncertainty” and does not afford short sellers the opportunity to spread their trades across time. Contrary to this idea, our results show that informed short sellers tend to use larger trade sizes, instead smaller trade sizes, after the suspension of the uptick rule. Further, we find that the use of smaller short sales during the post-suspension period, which is documented in prior studies, is not a result of greater stealth-trading activity and is instead explained by a reduction in liquidity that occurs when the uptick rule is suspended.     

Differences in business undergraduate perceptions by preferred classroom learning environment

Online education continues to grow at business schools. The authors compared undergraduate business student perceptions across three different classroom learning delivery environments: online, hybrid, and face to face. Based on the survey responses using two independent samples, the authors' analyses found that students who preferred online delivery perceived higher timely graduation and were more likely to recommend online or hybrid courses, whereas students' perceptions of persistence and institutional commitment were not related to classroom learning delivery preference.     

Employer involvement in defined contribution investment education

In this paper the authors consider the personnel problems that may arise for defined contribution plan sponsors if major market corrections cause older employees to delay retirement beyond previous expectations. We move from that basic premise to argue that, given the continued evolution from defined benefit (DB) to defined contribution (DC) retirement plans, employers need to be more "proactive" in educating their employees about their retirement planning. A human resources perspective is used to support this argument, apart from and in addition to legal considerations such as ERISA Section 404(c). Specifics of employer involvement and its place as a component of an organization's culture are discussed. Finally, recommendations are given for employers to consider.     

Empowering nets of participation.

To test the implications of field work in a psychiatric hospital for children, this study focuses on the effects of network properties of organizational units, personal network position, and other individual attributes, on individual power. The contextual analysis is carried out by two linked regression equations, one at the individual and one at the contextual level, a procedure that has methodological advantages over a single regression model. The results suggest that sheer complexity can undermine inequalities among bureaucratic units and occupational groups, and that organizational democracy is fostered when complex role relations promote extensive interunit communication. Specifically, we find that a main mechanism that endows individuals with power is found in the local domains of participation, i.e., the organizational units of which they are members, and that the capacity of such a unit to empower its members depends on its integration in organization-wide communication networks. The basis of this integration is conceived as overlapping circles of weak ties that inhibit segmentation along occupational or organizational lines and sustain wide participation by rewarding those who participate.     

Autocorrelation in daily short-sale volume

While Diether, Lee, and Werner (2009) find that daily shorting activity is serially correlated, this study uses more formal tests and finds significant first-order autocorrelation in daily short volume. Contrary to prior research that suggests that autocorrelation in total trade volume is explained by the flow of information into prices, our tests indicate that the information contained in short sales is decreasing in the level of autocorrelation. In additional tests, we do not find that short-sale constraints explain the presence of autocorrelation. However, our tests do provide evidence that the level of autocorrelation in daily short volume is highest in stocks that are least liquid suggesting that illiquidity might explain the presence of autocorrelation.     

Who are the essential and frontline workers?

Business Economics - Identifying essential and frontline workers and understanding their characteristics is useful for policymakers and researchers in targeting social insurance and safety net...     

Guns,laws and public shootings in the United States

Since the late 1990s, there have been increasing numbers of public shootings carried out with firearms in the United States. These tragedies continually renew the regulatory debate concerning public safety while considering civil liberties. Using a unique data set, we investigate whether laws correspond to whether an event occurs and the effects of event-specific characteristics on public shooting outcomes. In particular, we analyse how state-specific gun laws, the types of firearms, the shooting venues and the mental health of the gunman impact the outcomes of public shootings. Results show that most gun laws are unrelated to whether an event occurs. In addition, common state and federal gun laws that outlaw assault weapons are unrelated to the likelihood of an assault weapon being used during a public shooting event. Moreover, results show that the use of assault weapons is not related to more victims or fatalities than other types of guns. However, the use of hand guns, shot guns and high-capacity magazines is directly related to the number of victims and fatalities in a public shooting event. Finally, the gunman’s reported mental illness is often associated with an increase in the number of victims and fatalities.     

How to Coordinate Value Generation in Service Networks

The fundamental paradigm shift from traditional value chains to agile service value networks implies new economic and organizational challenges. As coordination mechanisms, auctions have proven to perform quite well in situations where intangible and heterogeneous goods are traded. Nevertheless, traditional approaches in the area of multidimensional combinatorial auctions are not quite suitable to enable the trade of composite services. A flawless service execution and therefore the requester’s valuation highly depends on the accurate sequence of the functional parts of the composition, meaning that in contrary to service bundles, composite services only generate value through a valid order of their components. The authors present an abstract model as a formalization of service value networks. The model comprehends a graph-based mechanism implementation to allocate multidimensional service offers within the network, to impose penalties for non-performance and to determine prices for complex services. The mechanism and the bidding language support various types of QoS attributes and their (semantic) aggregation. It is analytically shown that this variant is incentive compatible with respect to all dimensions of the service offer (quality and price). Based on these results, the authors numerically analyze strategic behavior of participating service providers regarding possible collusion strategies.