Crowdfunding as a Font of Entrepreneurship: Outcomes of Reward-Based Crowdfunding

Published Research

Crowdfunding allows founders of for-profit, artistic, and cultural ventures to fund their efforts by drawing on relatively small contributions from a relatively large number of individuals using the internet, without standard financial intermediaries. Crowdfunding has been drawing substantial attention from policy makers, managers, and entrepreneurs, but relatively little notice from academics.Read More

Standard vs. Partnership-Embedded Licensing: Attention and the Relationship Between Licensing and Product Innovations

Published Research

This paper examines the relationship between the licensing of knowledge and the creation of product innovations. We consider that firms organize licensing activities in different ways and that licensees are heterogeneous with respect to the attention available to apply and transform in-licensed knowledge to create new product innovations. Read More

Commercializing University Technology

Funded Research Proposal

University-based research is an important generator of fundamental scientific knowledge in society, and may also be the basis for valuable commercial activity. We aim to update and extend our knowledge of the processes of translating academic discoveries and inventions by studying the administrative data from Penn Center for Innovation (PCI). Read More

Understanding the Implementation of Reorganization in Primary Care

Funded Research Proposal

The Patient Centered Medical Home (PCMH) is an innovative model for reorganizing primary care in the US, providing opportunities for delivering higher-value care to patients. Recent agreement to access a novel, nationwide data set of thousands of PCMH practices and linked patient outcomes data has provided a unique avenue for studying this exciting area. Read More

Cascading Effects of Corporate Taxation in the Firm Network: Bonus Depreciation and Dividend Tax Cut Cases

Funded Research Proposal

Under the Trump administration, corporate tax policies have been recently attracting more and more attention. While there are papers studying direct effects of corporate tax, there is no research on indirect effects of corporate tax through the firm network. Read More

Impact of Shared Service Design on Markets: Spatial, Dynamic Information and Demand Matching

Funded Research Proposal

Bilateral rating systems impact pricing and capacity in two-sided markets. The bilateral rating mechanisms will enable customers to maintain and care for shared services, through reputational mechanisms, increasing social welfare. Read More

Bilateral Rating Systems in Online Marketplaces: Design and Impact

Funded Research Proposal

In recent years, digital innovations have fundamentally changed how many services and resources are put together and deployed. These include marketplaces like Uber and Airbnb that help match decentralized supply with demand. Read More

To Boost Online Sales, Focus on Close-Knit Communities

David Bell

Word-of-mouth testimonials from consumers are effective in driving online sales. But these signals are even more powerful in communities where people have closer ties and trust each other, according to new research by Wharton marketing professor David Bell and Jae Lee. Read More

Which Industries are Served by Online Markets for Technology?

Published Research

This study investigates a recent phenomenon in the market for technology: online marketplaces for technological inventions, which support the listing, search, and exchange of technological inventions by sellers and buyers. Focusing on three salient theoretical factors that affect markets for technology—search costs, ambiguity about the underlying knowledge and its applications, and expropriation concerns—our research systematically explores which industries are served by online marketplaces.Read More

Managing Valuable Knowledge in Weak IP Protection Countries

Published Research

Although knowledge assets provide multinational corporations with competitive advantages in foreign markets, it can be difficult for firms to protect their knowledge in foreign countries – especially countries with weak intellectual property (IP) protection.Read More

Estimating Value Creation from Revealed Preferences: Application to Value-Based Strategy

Published Research

We develop and apply a new set of empirical tools consistent with the tenets of value-based business strategies, leveraging the principle that “no good deal comes undone” and the methods of revealed preferences to empirically estimate drivers of value creation.Read More

Organizational Decision-Making and Information: Angel Investments by Venture Capital Partners

Working Papers

We study information aggregation in organizational decision-making for the financing of entrepreneurial ventures. We introduce a formal model of voting where agents face costly tacit information to improve their decision quality.Read More

Advertising Content and Consumer Engagement on Social Media: Evidence from Facebook

Working Papers

We describe the effect of social media advertising content on customer engagement using data from Facebook. We content-code 106,316 Facebook messages across 782 companies, using a combination of Amazon Mechanical Turk and Natural Language Processing algorithms.Read More

Equality and Equity in Compensation

Working Papers

Equity compensation is widely used for incentivizing skilled employees, particularly in new technology businesses. Traditional theories to explain why firms offer equity suggest that workers with higher rank or more important function should receive compensation packages more heavily weighted in equity.Read More

Social Is the New Financial: How Startup Social Media Activity Influences Funding Outcomes

Working Papers

In this project, we explore the impact of startup firms’ social media activities on their entrepreneurial financing performance. Social media can mitigate information problems in entrepreneurial financing in two ways.Read More

Big Data, Information Technology, and Firm Performance

Working Papers

This study focuses on how data analytics talent in firms can have an effect on firms’ return on their technology investment. Especially with the rise of social media, cloud computing, as well as many other technologies that can capture detailed digital trace about various human interactions, we hope to understand how some firms can capture the value of the data and gain competitive advantage while some could not.Read More

Make Room! Make Room! A Note on Sequential Spinoffs and Acquisitions

Working Papers

This project considers how merger and acquisition (M&A) activity evolves when companies undertake corporate spinoffs. One of the key roles of the CEOs and top management teams of diversified firms is to manage these companies’ corporate development activities, particularly as the technological landscape shifts.Read More

Exploring the 20 Trillion Dollar Question: How Industry-level Resource Characteristics Shape Long-term Company Returns

Working Papers

In the variance component studies, performance variations are literally “decomposed” into various strategic theories: within-industry variations are associated with the resource based view (RBV), between-industry variations with a Porterian industry perspective, and corporate effects with theories of corporate strategy.Read More