Dépouillements

Anticipatory sorting and gender segregation in temporary employment / Isabel Fernandez-Mateo in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 989-1008 Titre : Anticipatory sorting and gender segregation in temporary employment Type de document : texte imprimé Auteurs : Isabel Fernandez-Mateo, Auteur ; Zella King, Auteur Année de publication : 2011 Article en page(s) : pp. 989-1008 Note générale : Management Langues : Anglais (eng) Mots-clés : Organizational  studies  Personnel  Hiring  Gender  stratification Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We examine the roots of gender segregation in the screening process by using a longitudinal data set of candidates considered for temporary projects at a staffing firm and following their progress through the hiring pipeline. Theories invoked to explain gender segregation across jobs traditionally rely on firm-specific human capital and expectations of future commitment to explain this phenomenon. These do not apply in this setting. Yet we find that the staffing firm is more likely to shortlist women for low-paid projects and less likely to do so for high-paid ones. These effects are due to women being considered for different projects than men, and associated at least partially to the level of competition within vacancies. Although client companies also exhibit some gender-sorting behavior in the later steps of the hiring process, they are more likely to prefer women and less likely to sort them into lower-paid projects. Our findings are consistent with “anticipatory gender-sorting” mechanisms, by which first screeners generate segregation when narrowing down the pool of candidates for later decision makers. We discuss the implications of this case for theories of gender stratification and workplace inequality, especially in mediated labor markets. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Anticipatory sorting and gender segregation in temporary employment [texte imprimé] / Isabel Fernandez-Mateo, Auteur ; Zella King, Auteur . - 2011 . - pp. 989-1008. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 989-1008 Mots-clés : Organizational  studies  Personnel  Hiring  Gender  stratification Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We examine the roots of gender segregation in the screening process by using a longitudinal data set of candidates considered for temporary projects at a staffing firm and following their progress through the hiring pipeline. Theories invoked to explain gender segregation across jobs traditionally rely on firm-specific human capital and expectations of future commitment to explain this phenomenon. These do not apply in this setting. Yet we find that the staffing firm is more likely to shortlist women for low-paid projects and less likely to do so for high-paid ones. These effects are due to women being considered for different projects than men, and associated at least partially to the level of competition within vacancies. Although client companies also exhibit some gender-sorting behavior in the later steps of the hiring process, they are more likely to prefer women and less likely to sort them into lower-paid projects. Our findings are consistent with “anticipatory gender-sorting” mechanisms, by which first screeners generate segregation when narrowing down the pool of candidates for later decision makers. We discuss the implications of this case for theories of gender stratification and workplace inequality, especially in mediated labor markets. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Managing product variety and collocation in a competitive environment: an empirical investigation of consumer electronics retailing / Charlotte R. Ren in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1009-1024 Titre : Managing product variety and collocation in a competitive environment: an empirical investigation of consumer electronics retailing Type de document : texte imprimé Auteurs : Charlotte R. Ren, Auteur ; Ye Hu, Auteur ; Yu (Jeffrey) Hu, Auteur Année de publication : 2011 Article en page(s) : pp. 1009-1024 Note générale : Management Langues : Anglais (eng) Mots-clés : Product  variety  Competition  Collocation  Differentiation Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Product variety is an important strategic tool that firms can use to attract customers and respond to competition. This study focuses on the retail industry and investigates how stores manage their product variety, contingent on the presence of competition and their actual distance from rivals. Using a unique data set that contains all Best Buy and Circuit City stores in the United States, the authors find that a store's product variety (i.e., number of stock-keeping units) increases if a rival store exists in its market but, in the presence of such competition, decreases when the rival store is collocated (within one mile of the focal store). Moreover, collocated rival stores tend to differentiate themselves by overlapping less in product range than do noncollocated rivals. This smaller and more differentiated product variety may be because of coordinated interactions between collocated stores. In summary, this paper presents evidence of both coordination and competition in retailers' use of product variety. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Managing product variety and collocation in a competitive environment: an empirical investigation of consumer electronics retailing [texte imprimé] / Charlotte R. Ren, Auteur ; Ye Hu, Auteur ; Yu (Jeffrey) Hu, Auteur . - 2011 . - pp. 1009-1024. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1009-1024 Mots-clés : Product  variety  Competition  Collocation  Differentiation Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Product variety is an important strategic tool that firms can use to attract customers and respond to competition. This study focuses on the retail industry and investigates how stores manage their product variety, contingent on the presence of competition and their actual distance from rivals. Using a unique data set that contains all Best Buy and Circuit City stores in the United States, the authors find that a store's product variety (i.e., number of stock-keeping units) increases if a rival store exists in its market but, in the presence of such competition, decreases when the rival store is collocated (within one mile of the focal store). Moreover, collocated rival stores tend to differentiate themselves by overlapping less in product range than do noncollocated rivals. This smaller and more differentiated product variety may be because of coordinated interactions between collocated stores. In summary, this paper presents evidence of both coordination and competition in retailers' use of product variety. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Optimal housing, consumption, and investment decisions over the life cycle / Holger Kraft in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1025-1041 Titre : Optimal housing, consumption, and investment decisions over the life cycle Type de document : texte imprimé Auteurs : Holger Kraft, Auteur ; Claus Munk, Auteur Année de publication : 2011 Article en page(s) : pp. 1025-1041 Note générale : Management Langues : Anglais (eng) Mots-clés : Housing  Labor  income  Portfolio  choice  Life-cycle  decisions  REITs Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We derive explicit solutions to life-cycle utility maximization problems involving stock and bond investment, perishable consumption, and the rental and ownership of residential real estate. Prices of houses, stocks and bonds, and labor income are correlated. Because of a positive correlation between house prices and labor income, young individuals want little exposure to house price risk and tend to rent their home. Later in life the desired housing investment increases and will eventually reach and exceed the desired consumption, suggesting that the individual should buy his home—and either additional housing units (for renting out) or house price–linked financial assets. In the final years, preferences shift back to home rental. The derived strategies are still useful if housing positions are only reset infrequently. Our results suggest that markets for real estate investment trusts or other house price–linked contracts lead to nonnegligible welfare gains. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Optimal housing, consumption, and investment decisions over the life cycle [texte imprimé] / Holger Kraft, Auteur ; Claus Munk, Auteur . - 2011 . - pp. 1025-1041. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1025-1041 Mots-clés : Housing  Labor  income  Portfolio  choice  Life-cycle  decisions  REITs Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We derive explicit solutions to life-cycle utility maximization problems involving stock and bond investment, perishable consumption, and the rental and ownership of residential real estate. Prices of houses, stocks and bonds, and labor income are correlated. Because of a positive correlation between house prices and labor income, young individuals want little exposure to house price risk and tend to rent their home. Later in life the desired housing investment increases and will eventually reach and exceed the desired consumption, suggesting that the individual should buy his home—and either additional housing units (for renting out) or house price–linked financial assets. In the final years, preferences shift back to home rental. The derived strategies are still useful if housing positions are only reset infrequently. Our results suggest that markets for real estate investment trusts or other house price–linked contracts lead to nonnegligible welfare gains. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Why genius leads to adversity / Elena Katok in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1042-1054 Titre : Why genius leads to adversity : Experimental evidence on the reputational effects of task difficulty choices Type de document : texte imprimé Auteurs : Elena Katok, Auteur ; Enno Siemsen, Auteur Année de publication : 2011 Article en page(s) : pp. 1042-1054 Note générale : Management Langues : Anglais (eng) Mots-clés : Incentives  in  R&D  Behavioral  operations  Career  concerns  Decentralization Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We use a behavioral laboratory experiment to study how agents with reputation concerns select the difficulty of their tasks. Drawing upon existing theory, we subjected participants in our study to a context in which they had to convince a principal of their capability to reap financial benefits. Our results show that participants tended to increase the difficulty of their task to enhance their reputation. In addition, we provide evidence that performance rewards reduce a less capable agent's tendency to choose a more difficult task, whereas a highly capable agent's pattern of choices is unaffected by performance rewards. Although the productivity of agents in our experiment therefore decreased if they had to convince a principal of their capability, we show that these detrimental performance implications can to some degree be overcome for less capable agents through performance rewards or by ensuring that the principal can interpret the agent's choice. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Why genius leads to adversity : Experimental evidence on the reputational effects of task difficulty choices [texte imprimé] / Elena Katok, Auteur ; Enno Siemsen, Auteur . - 2011 . - pp. 1042-1054. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1042-1054 Mots-clés : Incentives  in  R&D  Behavioral  operations  Career  concerns  Decentralization Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We use a behavioral laboratory experiment to study how agents with reputation concerns select the difficulty of their tasks. Drawing upon existing theory, we subjected participants in our study to a context in which they had to convince a principal of their capability to reap financial benefits. Our results show that participants tended to increase the difficulty of their task to enhance their reputation. In addition, we provide evidence that performance rewards reduce a less capable agent's tendency to choose a more difficult task, whereas a highly capable agent's pattern of choices is unaffected by performance rewards. Although the productivity of agents in our experiment therefore decreased if they had to convince a principal of their capability, we show that these detrimental performance implications can to some degree be overcome for less capable agents through performance rewards or by ensuring that the principal can interpret the agent's choice. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Optimal preorder strategy with endogenous information control / Leon Yang Chu in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1055-1077 Titre : Optimal preorder strategy with endogenous information control Type de document : texte imprimé Auteurs : Leon Yang Chu, Auteur ; Zhang, Hao, Auteur Année de publication : 2011 Article en page(s) : pp. 1055-1077 Note générale : Management Langues : Anglais (eng) Mots-clés : Preorder  Advance  selling  Information  release  Consumer  valuation  control Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : In this paper, we investigate the integrated information and pricing strategy for a seller who can take customer preorders before the release of a product. The preorder option enables the seller to sell a product at an early stage when consumers are less certain about their valuations. We find that the optimal pricing strategy may be highly dependent on the amount of information available at preorder and that a small change in the latter may cause a dramatic change in the proportion of consumers who preorder under optimal pricing. Furthermore, the seller's optimal information strategy depends on a key measure, the normalized margin, which is the ratio between the expected profit margin and the standard deviation of consumer valuation. Although the seller may want to release some information or none, she should never release all information. Finally, under the optimal information and pricing strategy, the benefit of preorder is most pronounced when the normalized margin is in a medium range. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Optimal preorder strategy with endogenous information control [texte imprimé] / Leon Yang Chu, Auteur ; Zhang, Hao, Auteur . - 2011 . - pp. 1055-1077. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1055-1077 Mots-clés : Preorder  Advance  selling  Information  release  Consumer  valuation  control Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : In this paper, we investigate the integrated information and pricing strategy for a seller who can take customer preorders before the release of a product. The preorder option enables the seller to sell a product at an early stage when consumers are less certain about their valuations. We find that the optimal pricing strategy may be highly dependent on the amount of information available at preorder and that a small change in the latter may cause a dramatic change in the proportion of consumers who preorder under optimal pricing. Furthermore, the seller's optimal information strategy depends on a key measure, the normalized margin, which is the ratio between the expected profit margin and the standard deviation of consumer valuation. Although the seller may want to release some information or none, she should never release all information. Finally, under the optimal information and pricing strategy, the benefit of preorder is most pronounced when the normalized margin is in a medium range. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Dynamic price competition with fixed capacities / Victor Martínez-de-Albéniz in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1078-1093 Titre : Dynamic price competition with fixed capacities Type de document : texte imprimé Auteurs : Victor Martínez-de-Albéniz, Auteur ; Kalyan Talluri, Auteur Année de publication : 2011 Article en page(s) : pp. 1078-1093 Note générale : Management Langues : Anglais (eng) Mots-clés : Revenue  management  Bid  prices  Subgame-perfect  equilibrium Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : In this paper, we study price competition for an oligopoly in a dynamic setting, where each of the sellers has a fixed number of units available for sale over a fixed number of periods. Demand is stochastic, and depending on how it evolves, sellers may change their prices at any time. This reflects the fact that firms constantly, and almost costlessly, change their prices, reacting to updates in their estimates of market demand, competitor prices, or inventory levels. In a setting with demand uncertainty, we show that there is a unique subgame-perfect equilibrium for a duopoly, in which all states sellers engage in Bertrand competition and the seller with the lower equilibrium reservation value sells a unit at a price equal to the competitor's equilibrium reservation value. This structure therefore extends the marginal-value concept of bid-price control, used in many revenue management implementations, to a competitive model. We give a closed-form solution to the equilibrium price paths for a duopoly and extend all the results to an n-firm oligopoly. We then study extensions to multiple customer types, uncertain valuations, and differentiated products. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Dynamic price competition with fixed capacities [texte imprimé] / Victor Martínez-de-Albéniz, Auteur ; Kalyan Talluri, Auteur . - 2011 . - pp. 1078-1093. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1078-1093 Mots-clés : Revenue  management  Bid  prices  Subgame-perfect  equilibrium Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : In this paper, we study price competition for an oligopoly in a dynamic setting, where each of the sellers has a fixed number of units available for sale over a fixed number of periods. Demand is stochastic, and depending on how it evolves, sellers may change their prices at any time. This reflects the fact that firms constantly, and almost costlessly, change their prices, reacting to updates in their estimates of market demand, competitor prices, or inventory levels. In a setting with demand uncertainty, we show that there is a unique subgame-perfect equilibrium for a duopoly, in which all states sellers engage in Bertrand competition and the seller with the lower equilibrium reservation value sells a unit at a price equal to the competitor's equilibrium reservation value. This structure therefore extends the marginal-value concept of bid-price control, used in many revenue management implementations, to a competitive model. We give a closed-form solution to the equilibrium price paths for a duopoly and extend all the results to an n-firm oligopoly. We then study extensions to multiple customer types, uncertain valuations, and differentiated products. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Loss aversion with a state-dependent reference point / Enrico G. De Giorgi in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1094-1110 Titre : Loss aversion with a state-dependent reference point Type de document : texte imprimé Auteurs : Enrico G. De Giorgi, Auteur ; Thierry Post, Auteur Année de publication : 2011 Article en page(s) : pp. 1094-1110 Note générale : Management Langues : Anglais (eng) Mots-clés : Behavioral  finance  Asset  pricing  Equity  premium  puzzle  Reference-dependent  preferences  Loss  aversion  Stochastic  reference  point Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This study investigates reference-dependent choice with a stochastic, state-dependent reference point. The optimal reference-dependent solution equals the optimal consumption solution (no loss aversion) if the reference point is selected fully endogenously. Given that loss aversion is widespread, we conclude that the reference point generally includes an important exogenously fixed component. We develop a choice model in which adjustment costs can cause stickiness relative to an initial, exogenous reference point. Using historical U.S. investment benchmark data, we show that this model is consistent with diversification across bonds and stocks for a wide range of evaluation horizons, despite the historically high-risk premium of stocks compared to bonds. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Loss aversion with a state-dependent reference point [texte imprimé] / Enrico G. De Giorgi, Auteur ; Thierry Post, Auteur . - 2011 . - pp. 1094-1110. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1094-1110 Mots-clés : Behavioral  finance  Asset  pricing  Equity  premium  puzzle  Reference-dependent  preferences  Loss  aversion  Stochastic  reference  point Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This study investigates reference-dependent choice with a stochastic, state-dependent reference point. The optimal reference-dependent solution equals the optimal consumption solution (no loss aversion) if the reference point is selected fully endogenously. Given that loss aversion is widespread, we conclude that the reference point generally includes an important exogenously fixed component. We develop a choice model in which adjustment costs can cause stickiness relative to an initial, exogenous reference point. Using historical U.S. investment benchmark data, we show that this model is consistent with diversification across bonds and stocks for a wide range of evaluation horizons, despite the historically high-risk premium of stocks compared to bonds. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Trust in forecast information sharing / Özalp Özer in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1111-1137 Titre : Trust in forecast information sharing Type de document : texte imprimé Auteurs : Özalp Özer, Auteur ; Yanchong Zheng, Auteur ; Kay-Yut Chen, Auteur Année de publication : 2011 Article en page(s) : pp. 1111-1137 Note générale : Management Langues : Anglais (eng) Mots-clés : Trust  Trustworthiness  Cheap  talk  Asymmetric  forecast  information  Wholesale  price  contract  Behavioral  economics  Experimental  economics Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper investigates the capacity investment decision of a supplier who solicits private forecast information from a manufacturer. To ensure abundant supply, the manufacturer has an incentive to inflate her forecast in a costless, nonbinding, and nonverifiable type of communication known as “cheap talk.” According to standard game theory, parties do not cooperate and the only equilibrium is uninformative—the manufacturer's report is independent of her forecast and the supplier does not use the report to determine capacity. However, we observe in controlled laboratory experiments that parties cooperate even in the absence of reputation-building mechanisms and complex contracts. We argue that the underlying reason for cooperation is trust and trustworthiness. The extant literature on forecast sharing and supply chain coordination implicitly assumes that supply chain members either absolutely trust each other and cooperate when sharing forecast information, or do not trust each other at all. Contrary to this all-or-nothing view, we determine that a continuum exists between these two extremes. In addition, we determine (i) when trust is important in forecast information sharing, (ii) how trust is affected by changes in the supply chain environment, and (iii) how trust affects related operational decisions. To explain and better understand the observed behavioral regularities, we also develop an analytical model of trust to incorporate both pecuniary and nonpecuniary incentives in the game-theoretic analysis of cheap-talk forecast communication. The model identifies and quantifies how trust and trustworthiness induce effective cheap-talk forecast sharing under the wholesale price contract. We also determine the impact of repeated interactions and information feedback on trust and cooperation in forecast sharing. We conclude with a discussion on the implications of our results for developing effective forecast management policies. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Trust in forecast information sharing [texte imprimé] / Özalp Özer, Auteur ; Yanchong Zheng, Auteur ; Kay-Yut Chen, Auteur . - 2011 . - pp. 1111-1137. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1111-1137 Mots-clés : Trust  Trustworthiness  Cheap  talk  Asymmetric  forecast  information  Wholesale  price  contract  Behavioral  economics  Experimental  economics Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper investigates the capacity investment decision of a supplier who solicits private forecast information from a manufacturer. To ensure abundant supply, the manufacturer has an incentive to inflate her forecast in a costless, nonbinding, and nonverifiable type of communication known as “cheap talk.” According to standard game theory, parties do not cooperate and the only equilibrium is uninformative—the manufacturer's report is independent of her forecast and the supplier does not use the report to determine capacity. However, we observe in controlled laboratory experiments that parties cooperate even in the absence of reputation-building mechanisms and complex contracts. We argue that the underlying reason for cooperation is trust and trustworthiness. The extant literature on forecast sharing and supply chain coordination implicitly assumes that supply chain members either absolutely trust each other and cooperate when sharing forecast information, or do not trust each other at all. Contrary to this all-or-nothing view, we determine that a continuum exists between these two extremes. In addition, we determine (i) when trust is important in forecast information sharing, (ii) how trust is affected by changes in the supply chain environment, and (iii) how trust affects related operational decisions. To explain and better understand the observed behavioral regularities, we also develop an analytical model of trust to incorporate both pecuniary and nonpecuniary incentives in the game-theoretic analysis of cheap-talk forecast communication. The model identifies and quantifies how trust and trustworthiness induce effective cheap-talk forecast sharing under the wholesale price contract. We also determine the impact of repeated interactions and information feedback on trust and cooperation in forecast sharing. We conclude with a discussion on the implications of our results for developing effective forecast management policies. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Mandatory fair value accounting and information asymmetry / Karl A. III Muller in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1138-1153 Titre : Mandatory fair value accounting and information asymmetry : Evidence from the european real estate industry Type de document : texte imprimé Auteurs : Karl A. III Muller, Auteur ; Edward J. Riedl, Auteur ; Thorsten Sellhorn, Auteur Année de publication : 2011 Article en page(s) : pp. 1138-1153 Note générale : Management Langues : Anglais (eng) Mots-clés : Fair  value  Disclosure  IFRS  Information  asymmetry  Investment  property Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms' information asymmetry. Specifically, we investigate whether European real estate firms' compulsory adoption of International Accounting Standard 40 (IAS 40; Investment Property), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided these fair values prior to the mandatory adoption of IAS 40, we find that mandatory adoption firms exhibit a larger decline in information asymmetry, as reflected in lower bid–ask spreads. However, we also find that mandatory adoption firms continue to have higher information asymmetry than voluntary adoption firms, which appears partially attributable to the lower reliability of fair values reported by the mandatory adoption firms. Together, this evidence adds to the debate on fair value accounting by demonstrating that common adoption of fair value, even for long-lived tangible assets, under a mandatory reporting regime can reduce, but not necessarily eliminate, information asymmetry differences across firms. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Mandatory fair value accounting and information asymmetry : Evidence from the european real estate industry [texte imprimé] / Karl A. III Muller, Auteur ; Edward J. Riedl, Auteur ; Thorsten Sellhorn, Auteur . - 2011 . - pp. 1138-1153. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1138-1153 Mots-clés : Fair  value  Disclosure  IFRS  Information  asymmetry  Investment  property Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms' information asymmetry. Specifically, we investigate whether European real estate firms' compulsory adoption of International Accounting Standard 40 (IAS 40; Investment Property), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided these fair values prior to the mandatory adoption of IAS 40, we find that mandatory adoption firms exhibit a larger decline in information asymmetry, as reflected in lower bid–ask spreads. However, we also find that mandatory adoption firms continue to have higher information asymmetry than voluntary adoption firms, which appears partially attributable to the lower reliability of fair values reported by the mandatory adoption firms. Together, this evidence adds to the debate on fair value accounting by demonstrating that common adoption of fair value, even for long-lived tangible assets, under a mandatory reporting regime can reduce, but not necessarily eliminate, information asymmetry differences across firms. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

The Impact of Demand Aggregation Through Delayed Component Allocation in an Assemble-to-Order System / Fernando Bernstein in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1154-1171 Titre : The Impact of Demand Aggregation Through Delayed Component Allocation in an Assemble-to-Order System Type de document : texte imprimé Auteurs : Fernando Bernstein, Auteur ; Gregory A. DeCroix, Auteur ; Yulan Wang, Auteur Année de publication : 2011 Article en page(s) : pp. 1154-1171 Note générale : Management Langues : Anglais (eng) Mots-clés : Assemble-to-order  Inventory  production  Policies  Capacity  Stochastic  Multi-item Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider an assemble-to-order system in which multiple products are assembled from a common component and a set of product-dedicated components. Component capacities are chosen prior to a finite-horizon selling season, and the common component is allocated to the products based on observed demands. We propose a collection of allocation mechanisms involving varying degrees of demand aggregation, ranging from a scheme under which all demands are observed prior to making the allocation decision to allocations made for each arriving demand. In this context, we explore the impact of the allocation scheme on sales, profits, and capacity decisions, including the degree of capacity imbalance. We find that the benefit from increased demand aggregation is closely linked to the degree of capacity imbalance: profit gains from delayed allocation tend to be higher in systems in which the optimal capacity portfolio is highly unbalanced when the allocation decision is made after observing all demands. We develop insights into what detailed system parameters lead to the largest gains from demand aggregation and also explore the trade-offs associated with the choice of an allocation scheme when customers exhibit impatience if the allocation scheme forces them to wait to be served. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] The Impact of Demand Aggregation Through Delayed Component Allocation in an Assemble-to-Order System [texte imprimé] / Fernando Bernstein, Auteur ; Gregory A. DeCroix, Auteur ; Yulan Wang, Auteur . - 2011 . - pp. 1154-1171. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1154-1171 Mots-clés : Assemble-to-order  Inventory  production  Policies  Capacity  Stochastic  Multi-item Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider an assemble-to-order system in which multiple products are assembled from a common component and a set of product-dedicated components. Component capacities are chosen prior to a finite-horizon selling season, and the common component is allocated to the products based on observed demands. We propose a collection of allocation mechanisms involving varying degrees of demand aggregation, ranging from a scheme under which all demands are observed prior to making the allocation decision to allocations made for each arriving demand. In this context, we explore the impact of the allocation scheme on sales, profits, and capacity decisions, including the degree of capacity imbalance. We find that the benefit from increased demand aggregation is closely linked to the degree of capacity imbalance: profit gains from delayed allocation tend to be higher in systems in which the optimal capacity portfolio is highly unbalanced when the allocation decision is made after observing all demands. We develop insights into what detailed system parameters lead to the largest gains from demand aggregation and also explore the trade-offs associated with the choice of an allocation scheme when customers exhibit impatience if the allocation scheme forces them to wait to be served. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Efficient risk estimation via nested sequential simulation / Mark Broadie in Management science, Vol. 57 N° 6 (Juin 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1172-1194 Titre : Efficient risk estimation via nested sequential simulation Type de document : texte imprimé Auteurs : Mark Broadie, Auteur ; Yiping Du, Auteur ; Ciamac C. Moallemi, Auteur Année de publication : 2011 Article en page(s) : pp. 1172-1194 Note générale : Management Langues : Anglais (eng) Mots-clés : Simulation  Decision  analysis  Risk  Risk  management  Sequential  analysis Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We analyze the computational problem of estimating financial risk in a nested simulation. In this approach, an outer simulation is used to generate financial scenarios, and an inner simulation is used to estimate future portfolio values in each scenario. We focus on one risk measure, the probability of a large loss, and we propose a new algorithm to estimate this risk. Our algorithm sequentially allocates computational effort in the inner simulation based on marginal changes in the risk estimator in each scenario. Theoretical results are given to show that the risk estimator has a faster convergence order compared to the conventional uniform inner sampling approach. Numerical results consistent with the theory are presented. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc [article] Efficient risk estimation via nested sequential simulation [texte imprimé] / Mark Broadie, Auteur ; Yiping Du, Auteur ; Ciamac C. Moallemi, Auteur . - 2011 . - pp. 1172-1194. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 6 (Juin 2011) . - pp. 1172-1194 Mots-clés : Simulation  Decision  analysis  Risk  Risk  management  Sequential  analysis Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We analyze the computational problem of estimating financial risk in a nested simulation. In this approach, an outer simulation is used to generate financial scenarios, and an inner simulation is used to estimate future portfolio values in each scenario. We focus on one risk measure, the probability of a large loss, and we propose a new algorithm to estimate this risk. Our algorithm sequentially allocates computational effort in the inner simulation based on marginal changes in the risk estimator in each scenario. Theoretical results are given to show that the risk estimator has a faster convergence order compared to the conventional uniform inner sampling approach. Numerical results consistent with the theory are presented. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/6.toc

Exemplaires

Bibliothèque Ecole Nationale Polytechnique d'Alger

Accueil

Se connecter

Météo

Adresse