Why and how do private equity (PE) firms engage in technology acquisitions, and how do they create and capture value in these transactions? Observational data shows initial evidence that not only are PE firms engaging in an increasing number of technology buyouts, they are also seemingly behaving in distinct ways from both corporate acquirers, as well as PE firms in industries other than high-tech.…Read More
Lowering the cost and increasing the speed of last mile delivery are major challenges for the distribution channels of most industries. These challenges are even more severe in developing countries, where a large part of the population is located in rural areas, and where the lack of physical infrastructure results in a sizable part of the population residing in isolated areas, compromising their access to important services for their investment in human capital, such as timely health care.…Read More
The research objective is to determine how quickly product innovation translates into higher stock market valuations. The novelty in the research approach is using online consumer reviews on websites including Amazon, eBay; combined with stock market data.…Read More
In this project, we seek to update the statistical paradigm for conducting A/B tests in the 21st century. In particular, we plan to develop a statistical framework that takes the guesswork out of deciding when to stop an experiment and to calibrate a firm’s decision thresholds based on their own historical data.…Read More
Standard economic theory recognizes a trade-off inherent in intellectual property protection between increased incentives for firms to innovate due to potential monopoly rights and the deadweight loss from those rights.…Read More
This project considers whether CEOs and other top managers whose professional backgrounds are in private equity undertake different and/or more successful acquisitions and divestitures than CEOs and other top managers who do not have professional backgrounds in private equity.…Read More
We plan to study the role of strategic delegation in the patent licensing process. In particular, we will examine the contractual terms of a large database of pharmaceutical drug license arrangements (royalty rates, contingencies, royalty bases, etc…), as well as which contractual terms were redacted versus non-redacted.…Read More
What is the impact of deploying an analytics solution on firm output? How is this impact generated by the firm? We use data from over 1,000 firms to estimate the causal impact of analytics and benchmarking on firm performance.…Read More
We propose to study the impact of technological innovations in last-mile delivery on health care access, cost, and quality. To this end, we will examine the introduction of drones to deliver blood and other medical supplies to isolated areas in Rwanda.…Read More
We study how retail stores’ multi-dimensioned service levels affect consumers’ buying behavior in a spatial setting. To this end, we propose the Double Block-Lasso BLP estimator, which combines the double selection procedure introduced in Belloni, Chernozhukov, and Hansen (2014), with demand estimation methods set forth in Berry, Levinsohn and Pakes (1995).…Read More
We argue that for firms competing in infrastructure industries, a change in the government that granted the permission to invest in the host country increases the likelihood of divestment of foreign subsidiaries. …Read More
Nonprofits are increasingly present in industries with a large for-profit sector, raising questions about their competitive advantage afforded by the nonprofit tax exemption. We estimate an equilibrium model of market structure for recreation/fitness centers to assess whether nonprofit and for-profit firms compete directly for the same customer base.…Read More
Adding to the literature on the recognition and spread of ideas, and alongside the bias against novelty view documented in prior research, we introduce the perspective that articles compete for the attention of researchers who might build upon them. …Read More
The extent to which local incentive policies (such as subsidies and tax credits) are effective at spurring new centers of innovation, and whether these incentives induce overall productivity growth or just a shift of production from one region to another, is the subject of this proposal.…Read More
In 2011, California Governor Jerry Brown recognized several of the state’s existing firm incentive policies aimed at catalyzing innovative activity in the state, to be ineffectual, citing poor incentive design.…Read More
The project aims to explore the extent to which blockchain technology can be ported to alleviate information asymmetry issues in the context of supply chain financing. In particular, firms seeking the capital needed to efficiently run their operations are often impeded by severe information asymmetry issues. …Read More
This study considers the nascent period of industry change when the prevalent business model is being threatened by a new model, but there is significant uncertainty with respect to whether and when the new model will dominate. …Read More
This study explores acquisition strategy of the U.S. technology sector. I plan to build a comprehensive and detailed dataset of acquisitions of US and foreign startups by US technology companies.…Read More
The development and adoption of new innovative technologies confront firms into making decisions in highly uncertain environment. Past experience and the available public information are seldom sufficient to support firms in their decision process; firms ability to experiment and produce new information is then paramount. …Read More
In this project, I seek to compare how effectively family firms undertake and implement acquisitions and divestitures relative to their non-family counterparts. While family firms are less likely than non-family firms to undertake divestitures, the stock market returns earned by the family firms that undertake these deals exceed those of non-family firms.…Read More
