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University of California, Los Angeles (Anderson)
(115 results)-
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Growing Up In A Recession: Beliefs And The Macroeconomy
September 1, 2009, 12:00am PDT
Do generations growing up during recessions have different socio-economic beliefs than generations growing up in good times? This paper studies the relationship between recessions and beliefs by...
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Challenges And Opportunities In High-Dimensional Choice Data Analyses
May 31, 2008, 12:00am PDT
Modern businesses routinely capture data on millions of observations across subjects, brand SKUs, time periods, predictor variables, and store locations, thereby generating massive...
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Franchising Microfinance
April 9, 2009, 12:00am PDT
Financial intermediaries worldwide are seeking mechanisms for participating in micro lending. Using informed "Local capitalists" as bank's on-lenders fails due to borrowers' incentive to default...
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Feedback And Motivation In Dynamic Tournaments
June 1, 2009, 12:00am PDT
Investigation was done of the choice to conduct interim performance evaluations in a dynamic tournament. When a worker's ability does not influence the marginal benefit of effort, the choice...
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The Impact Of Marketing-Induced Versus Word-of-Mouth Customer Acquisition On Customer Equity Growth
February 1, 2008, 12:00am PST
Companies can acquire customers through costly but fast-acting marketing investments or through slower but cheaper word-of-mouth processes. Their long-term success depends critically on the...
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Did First-Mover Advantage Survive The Dot-Com Crash?
December 2, 2007, 12:00am PST
Widespread expectations of first-mover advantages contributed to the rush of market entry during the early growth phase of the Internet sector. After the shakeout, however, such beliefs came into...
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Movie Advertising And The Stock Market Valuation Of Studios: A Case of Great Expectations?
January 18, 2008, 12:00am PST
Product innovation is the key revenue driver in the motion picture industry. Since major studios typically launch fewer than twenty movies per year, the financial performance of a single release...
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Marketing And Firm Value: Metrics, Methods, Findings, And Future Directions
June 25, 2008, 12:00am PDT
The marketing profession is being challenged to assess and communicate the value created by its actions on shareholder value. These demands create a need to translate marketing resource...
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Measuring Marketing Effects On Customer Equity For Frequently Purchased Brands
April 12, 2008, 12:00am PDT
The customer equity paradigm is readily implemented in relationship businesses where the distinction between a prospect and an existing customer is unambiguous. That enables firms in such...
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Measuring Value Creation And Its Distribution Among Stakeholders Of The Firm
June 5, 2007, 12:00am PDT
The paper presents a general methodology that uses publicly available data to estimate the magnitude of economic value creation and its distribution among a firm's stakeholders. Based on...
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Cournot Competition Under Yield Uncertainty: The Case Of The U.S. Influenza Vaccine Market
December 4, 2008, 12:00am PST
This paper is inspired by the recurring mismatch between demand and supply in the U.S. influenza vaccine market. Economic theory predicts that an oligopolistic market with unregulated but costly...
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Inventory Management Of A Fast-Fashion Retail Network
August 2, 2007, 12:00am PDT
Working in collaboration with Spain-based retailer Zara, Authors address the problem of distributing over time a limited amount of inventory across all the stores in a fast-fashion retail network....
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Sell-Side Liquidity And The Cross-Section Of Expected Stock Returns
September 11, 2009, 12:00am PDT
There is reason to believe that market makers may react asymmetrically to purchases and sales on account of their tendency to hold positive inventories. The paper estimates separate buy- and...
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The Diffusion Of Development
May 1, 2009, 12:00am PDT
What explains the vast differences in income per capita across countries? This paper provides new empirical evidence shedding light on this question. At the center of the analysis is genetic...
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Executive Stock-Based Compensation And Firms' Cash Payout: The Role Of Shareholders' Tax-Related Payout Preferences
November 1, 2007, 12:00am PDT
This study investigates the extent to which the structure of executive stock-based compensation helps to align managers' cash payout choices with shareholders' tax-related payout preferences....
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Advertising Spending, Competition And Stock Return
April 21, 2008, 12:00am PDT
Marketing decision makers are increasingly aware of the importance of shareholder value maximization, which calls for an evaluation of the long-run effects of their actions on product-market...
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Capital Gains Taxes, Agency Costs, And Closed-End Fund Discounts
October 1, 2007, 12:00am PDT
This paper tests two hypotheses about the determinants of closed-end fund premia and discounts using a comprehensive sample of non-taxable and taxable funds for the period 1988 to 2002. The...
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A Model Of Individual Keyword Performance In Paid Search Advertising
June 1, 2007, 12:00am PDT
In paid search advertising on Internet search engines, advertisers bid for specific keywords, e.g. "Rental Cars LAX," to display a text ad in the sponsored section of the search results page. The...
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Modeling Co-Existing Business Scenarios With Time Series Panel Data
September 1, 2007, 12:00am PDT
Due to customer segmentation, multiple types of dynamic business scenarios (business-as-usual, escalation, hysteresis, and evolving business practice; Dekimpe and Hanssens 1999) may coexist within...
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Modeling Long Memory In REITs
August 1, 2007, 12:00am PDT
One stylized feature of financial volatility impacting the modeling process is long memory. This paper examines long memory for alternative risk measures, observed absolute and squared returns for...
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Spackling: Smoothing Make-To-Order Production Of Mass-Customized Products With Make-To-Stock Production Of Standard Items
October 30, 2007, 12:00am PDT
Consider a mass customizer who produces multiple variants of a product in make-to-order fashion, and who also produces some standard variants as make-to-stock. The authors of this paper evaluate...
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Gray Markets, Demand Uncertainty, And Excess Inventory
March 12, 2010, 12:00am PST
The legal diversion of large quantities of goods from authorized distribution channels to unauthorized or "Gray market" channels has important consequences to both firms and consumers through...
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Aggregate Leverage And Preemptive Selling By Individual Financial Institutions
October 30, 2009, 12:00am PDT
The paper studies an economy in which each financial institution takes into account that if it has to sell its assets after others have already sold, the price will be lower. This causes...
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Libertarian Paternalism, Information Sharing, And Financial Decision-Making
March 7, 2010, 12:00am PST
Author developed a theoretical model to study the welfare effects of libertarian paternalism on information acquisition, social learning, and financial decision-making. Individuals in the model...
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Optimal Portfolio Liquidation With Distress Risk
February 17, 2010, 12:00am PST
The paper analyzes the problem of an investor who needs to unwind a portfolio in the face of recurring and uncertain liquidity needs, with a model that accounts for both permanent and temporary...
Provided by University of California, Los Angeles (Anderson)
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Identifying Organizational Faultlines With Latent Class Cluster Analysis
March 14, 2010, 12:00am PST
Faultline theory proposes that when the distributions of individuals' attributes in groups are aligned they create homogeneous subgroups, characterized by within-group similarities and...
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A Multiplier Approach To Understanding The Macro Implications Of Household Finance
January 23, 2010, 12:00am PST
The paper examines the impact of heterogeneous trading technologies for households on asset prices and the distribution of wealth. Author distinguishes between passive traders who hold fixed...
Provided by University of California, Los Angeles (Anderson)
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Predictable Currency Risk Premia
August 10, 2009, 12:00am PDT
Currency excess returns are highly predictable, more than stock returns, and about as much as bond returns. Author shows that in a general, no-arbitrage setup, expected currency excess returns...
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How Does The U.S. Government Finance Fiscal Shocks?
April 23, 2010, 12:00am PDT
Author developed a method for identifying and quantifying the fiscal channels that help finance government spending shocks and apply it to postwar U.S. data. The paper defines fiscal shocks as...
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Is The Volatility Of The Market Price Of Risk Due To Intermittent Portfolio Re-Balancing?
February 3, 2010, 12:00am PST
The paper examines whether intermittent portfolio re-balancing on the part of some stock market investors can help to explain the counter-cyclical volatility of aggregate risk compensation in...
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Technological Change And The Growing Inequality In Managerial Compensation
December 10, 2009, 12:00am PST
Three of the most fundamental changes in US corporations since the early 1970s have been (1) the increased importance of organizational capital in production, (2) the increase in managerial income...
Provided by University of California, Los Angeles (Anderson)
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The Cross-Section And Time-Series Of Stock And Bond Returns
January 1, 2010, 12:00am PST
The paper proposes an arbitrage-free Stochastic Discount Factor (SDF) model that jointly prices the cross-section of returns on portfolios of stocks sorted on book-to-market dimension, the...
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Project Management Contracts With Delayed Payments
March 5, 2010, 12:00am PST
When managing projects with considerable uncertainty such as those arising in construction, defense, and new product development, it is customary for a manufacturer (project manager) to offer...
Provided by University of California, Los Angeles (Anderson)
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Internationally Correlated Jumps
March 1, 2010, 12:00am PST
Stock returns are characterized by extreme observations, jumps that would not occur under the smooth variation typical of a Gaussian process. Author finds that jumps are prevalent in most...
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Recent Trends In Trading Activity
January 14, 2010, 12:00am PST
The paper explores the sharp uptrend in trading activity during recent years. Higher turnover has been associated with more frequent smaller trades, which have progressively formed a larger...
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Volume In Redundant Assets
May 10, 2010, 12:00am PDT
Why do multiple contingent claims on the same asset attract volume? Author addresses this issue by empirically analyzing the joint time-series of volume on the S&P 500 index and three contingent...
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Bayesian Applications In Marketing
May 1, 2010, 12:00am PDT
This paper reviews applications of Bayesian methods to marketing problems. Key aspects of marketing applications include the discreteness of response or outcome data and relatively large numbers...
Provided by University of California, Los Angeles (Anderson)
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Cash Flow Multipliers And Optimal Investment Decisions
March 1, 2010, 12:00am PST
By postulating a simple stochastic process for the firm's cash flows in which the drift and the variance of the process depend on the investment policy of the firm, author developed a theoretical...
Provided by University of California, Los Angeles (Anderson)
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Ethical Misfit Or The Demand For Leniency? The Impact Of Behavioral Attributes On Employee Tenure
March 20, 2010, 12:00am PDT
This paper argues that while ethical misfit between firms and employees may increase the likelihood of attrition, the interaction between organizational and employee ethics may be much more...
Provided by University of California, Los Angeles (Anderson)
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Board Quality And The Cost Of Debt Capital: The Case Of Bank Loans
April 1, 2010, 12:00am PDT
The paper analyzes the relation between comprehensive measures of board quality and the cost as well as the non-price terms of bank loans. It shows that firms with higher quality boards and even a...
Provided by University of California, Los Angeles (Anderson)
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Emergency Related Video Streaming in VANETs Using Network Coding
August 30, 2007, 12:00am PDT
Vehicular communications are becoming a reality driven by various applications. Among those applications safe navigation support is of most significance. In designing such navigation safety...
Provided by University of California, Los Angeles (Anderson)
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Bluetooth-Based P2P Content Distribution to Mobile Users
July 5, 2007, 12:00am PDT
Using handheld devices such as PDAs, cellular phones and smart phones for personal entertainment has become commonplace in today's lifestyle. Most of these devices are equipped with Bluetooth...
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New Bluetooth Interconnection Methods: Overlaid Bluetooth Piconets (OBP) and Temporary Scatternets (TS)
May 18, 2007, 12:00am PDT
In a large scale Bluetooth network, the permanent Scatternet is regarded as the only method to interconnect Piconets. But, many Bluetooth devices do not support Scatternet. When they support it,...
Provided by University of California, Los Angeles (Anderson)
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Cloud Computing Task Force Report to the Information Technology Leadership Council
January 8, 2010, 12:00am PST
The industry is currently grappling with an appropriate definition of cloud computing, as evidenced in the Definition of Cloud Computing white paper. For the purpose of this study, the authors...
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Using Virtualization to Validate Fault-Tolerant Distributed Systems
November 1, 2010, 12:00am PDT
Asynchronous events and complex system state distributed across independent nodes make exposure and diagnosis of flaws in distributed systems a challenge. The difficulties are exacerbated when the...
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Sensation Seeking, Overconfidence, And Trading Adversity
January 8, 2008, 12:00am PST
This study analyzes the role that two psychological attributes - sensation seeking and overconfidence - play in the tendency of investors to trade stocks. Equity trading data from Finland are...
Provided by University of California, Los Angeles (Anderson)
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Why Has Trading Volume Increased?
September 14, 2007, 12:00am PDT
Share turnover has increased dramatically over the past several years. The authors explore possible causes. Higher turnover is associated with more frequent smaller orders, which have...
Provided by University of California, Los Angeles (Anderson)
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Train Wrecks: Asset Pricing And The Valuation Of Severely Distressed Assets
February 1, 2008, 12:00am PST
Motivated by the recent subprime credit crisis, the authors examine the asset-pricing implications of a market in which assets can become severely distressed as investors learn that an adverse...
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O/S: The Relative Trading Activity In Options And Stock
March 30, 2009, 12:00am PDT
While many studies have focused on trading volume in the stock market, little is known about why derivatives volume varies in the cross-section or over time. The authors study time-series...
Provided by University of California, Los Angeles (Anderson)
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Liquidity Skewness
October 28, 2009, 12:00am PDT
Liquidity and trading activity are important features of financial markets. Their importance is magnified because trading costs affect required returns (Amihud and Mendelson, 1986, Amihud, 2002)...
Provided by University of California, Los Angeles (Anderson)
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Migration And Economic Growth In China: The Role Of Knowledge And Human Capital Spillover
April 20, 2010, 12:00am PDT
The authors apply a skill-based directional migration model to examine the importance of knowledge and human capital spillovers to China's economic development. Those spillovers augment private...
Provided by University of California, Los Angeles (Anderson)
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Corporate Bond Default Risk: A 150-Year Perspective
March 1, 2010, 12:00am PST
The authors study corporate bond default rates using an extensive new data set spanning the 1866−2008 period. They find that the corporate bond market has repeatedly suffered clustered...
Provided by University of California, Los Angeles (Anderson)
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Managerial Biases And Energy Savings: An Empirical Analysis Of The Adoption Of Process Improvement Recommendations
February 16, 2009, 12:00am PST
The authors investigate the adoption and non-adoption of energy efficiency initiatives using a database of over 100,000 recommendations provided to more than 13,000 small and medium sized...
Provided by University of California, Los Angeles (Anderson)
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Optimizing Long-Term Production Plans In Underground And Open Pit Copper Mines
April 22, 2010, 12:00am PDT
The authors present a methodology for long?]term mine planning based on a general capacitated multicommodity network flow problem formulated as a comprehensive math programming model. The planning...
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The Cross-Sectional Dispersion Of Commercial Real Estate Returns And Rent Growth: Time Variation And Economic Fluctuations
June 5, 2007, 12:00am PDT
The authors estimate the cross-sectional dispersions of returns and growth in rents for commercial real estate using data on U.S. metropolitan areas over the sample period 1986 to 2002. The...
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Value Creation Through Securitization: Evidence From The CMBS Market
February 18, 2008, 12:00am PST
Despite recent volatility and constraints in secondary market funding, analysts have ascribed substantial value creation to the securitization of commercial mortgages. Such value creation likely...
Provided by University of California, Los Angeles (Anderson)
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Production And Work In The American Metropolis: A Macroscopic Approach
February 15, 2008, 12:00am PST
In this paper the author pursues the idea that large and small metropolitan areas are subject to distinctively different technological, organizational, and employment dynamics. This idea is...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Adopting Local Climate Policies: What Have California Cities Done And Why?
November 9, 2009, 12:00am PST
Climate action at the local level represents an important and unique complement to global and national level policies. The lack of accurate information of actions taken by local governments and...
Provided by University of California, Los Angeles (Anderson)
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Urban Policy Effects On Carbon Mitigation
April 24, 2010, 12:00am PDT
Suppose that your household was choosing between living in suburban Houston or center city San Francisco. In each case, what would your household's annual carbon footprint be? Glaeser and Kahn...
Provided by University of California, Los Angeles (Anderson)
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Cities, Economic Development And The Role Of Place Based Policies: Lessons For Appalachia
August 1, 2010, 12:00am PDT
Appalachia's cities face an uphill fight as they compete for talent and try to lure firms on the national market. In an open system of cities, skilled footloose workers seek out high paying jobs...
Provided by University of California, Los Angeles (Anderson)
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Valuing Toxic Assets: An Analysis Of CDO Equity
March 1, 2009, 12:00am PST
How does the market value complex structured-credit securities? This issue is central to understanding the current financial crisis and identifying effective policy measures. The authors study...
Provided by University of California, Los Angeles (Anderson)
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Moral Hazards: Special Purpose Vehicles, Bankruptcy Remoteness And Non-Recourse Lending
February 22, 2010, 12:00am PST
It has long been understood that moral hazard arises in debt financing. This paper considers the implications of moral hazard issues when a firm makes a sequence of investments and creditors...
Provided by University of California, Los Angeles (Anderson)
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Electric Usage Information And Public And Private Incentives: A Pilot Project
June 1, 2010, 12:00am PDT
Residential and commercial buildings collectively accounts for over two-thirds of electricity usage (EPA 2010, EIA 2010). While current research indicates that behavioral changes induced by...
Provided by University of California, Los Angeles (Anderson)
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Urban Adaptation To Low Probability Shocks: Contrasting Terrorism And Natural Disaster Risk
September 5, 2010, 12:00am PDT
Suburbanization is a long-run trend in cities around the world. All households and firms face tradeoffs in terms of location choice. Until recently, urban centers were the cultural and social...
Provided by University of California, Los Angeles (Anderson)
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Local Scale Economies In Loan Sales And Access To Mortgage Credit: 1994-2008
June 29, 2010, 12:00am PDT
While secondary loan markets have provided lenders with substantial liquidity, evidence of the impact of those markets on borrower access to credit is limited. In part, that is because it is...
Provided by University of California, Los Angeles (Anderson)
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Energy Conservation "Nudges" And Environmentalist Ideology: Evidence from a Randomized Residential Electricity Field Experiment
July 1, 2010, 12:00am PDT
Nudges are being widely promoted to encourage energy conservation. The authors show that while the electricity conservation "Nudge" of providing feedback to households on own and peers' home...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Migration And Economic Growth In China: The Role Of Knowledge And Human Capital Spillovers
April 20, 2010, 12:00am PDT
The authors apply a skill-based directional migration model to examine the importance of knowledge and human capital spillovers to China's economic development. Those spillovers augment private...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Leaders, Followers And Laggards: Committing To Local Climate Actions In California
April 15, 2010, 12:00am PDT
Very limited amount of research has been devoted to climate actions at the local level in comparison to those at federal and state levels. It is unclear why some cities acted as leaders in the...
Provided by University of California, Los Angeles (Anderson)
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Average And Marginal Tobin's q As Indicators Of Future Growth Opportunities, Expected Return, And Risk
December 3, 2008, 12:00am PST
Contrary to popular opinion, average Tobin's q is a better indicator of future growth opportunities than marginal Tobin's q. The authors derive a curious relation between average and marginal q:...
Provided by University of California, Los Angeles (Anderson)
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MicroHoo: Lessons From A Takeover Attempt
July 14, 2010, 12:00am PDT
On February 1, 2008, Microsoft offered $43.7 billion for Yahoo. This was a milestone in the Microsoft versus Google battle to control the internet search industry and the related online...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Energy Consumption Analysis for Bluetooth, WiFi and Cellular Networks
December 10, 2007, 12:00am PST
This paper analyzes average energy consumption of Bluetooth, WiFi (802.11) and cellular networks for transmitting data produced at f bytes per second. It is assumed that a packet is created every...
Provided by University of California, Los Angeles (Anderson)
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The Global Information Economy And Service Industrialization: The UCLA BIT Project
July 1, 2007, 12:00am PDT
This study examines business continuity in the retail sector. Business continuity can be defined as contingency planning undertaken to ensure the best possible continuance of business activities...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Information Services In The US Economy: Value, Jobs And Management Implications
June 1, 2007, 12:00am PDT
Innovation, it seems, is everything that it's cut out to be. Done right, it can take a company, government or country from mediocrity to greatness. But innovation doesn't come easy, and in some...
Provided by University of California, Los Angeles (Anderson)
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Frontiers in Web Data Management
January 1, 2010, 12:00am PST
In the last decade, the Web has become a primary source of information for many people. Due to its ease and ubiquity, many people first look up pages on the Web whenever they need to look up...
Provided by University of California, Los Angeles (Anderson)
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Production In Entrepreneurial Firms: The Effects Of Financial Constraints On Labor And Capital
September 6, 2007, 12:00am PDT
The authors model the contrasting capital-labor decisions of financially constrained and unconstrained firms. They show that financially restricted firms use relatively more labor than physical...
Provided by University of California, Los Angeles (Anderson)
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Informed Investors And The Financing Of Entrepreneurial Projects
September 5, 2007, 12:00am PDT
The authors consider a model of the financing of a small-business venture in which it is presumed that outside investors have greater expertise in project evaluation than the entrepreneur. They...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Does Load Lead To Decision Bias Or Are We Biased Against Load?
September 11, 2007, 12:00am PDT
The authors examine moderators of the impact of cognitive load on choice strategies and susceptibility to decision bias. In four studies, they investigate the conditions under which load increases...
Provided by University of California, Los Angeles (Anderson)
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White Papers
Ratings Changes, Ratings Levels, And The Predictive Value Of Analysts' Recommendations
November 1, 2008, 12:00am PDT
This paper provides evidence that the documented abnormal returns to analysts' security recommendations stem from both the ratings levels assigned as well as the changes in those ratings....
Provided by University of California, Los Angeles (Anderson)
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Marketing & Institutions: An International Perspective
August 1, 2008, 12:00am PDT
This paper presents descriptive empirical evidence of a link between country-level institutions on marketing sophistication and customer orientation. The author fined that stronger institutions...
Provided by University of California, Los Angeles (Anderson)
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White Papers
The Power Of Flexibility For Mitigating Supply Chain Risks
July 15, 2008, 12:00am PDT
Lee (2004) articulated that alignment, adaptability, and agility are the basic ingredients for managing supply chain risks. While it is clear that flexibility (agility) enhances supply chain...
Provided by University of California, Los Angeles (Anderson)
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