This paper studies the strategy of entrepreneurs to finance their experimentation given the presence of adverse selection in capital markets. …Read More
Financing Experimentation
Innovation Opportunities and Risks
The Role of Organizational Sponsorship in Pioneering New Technology
Organizational sponsors foster young entrepreneurial firms by providing resources to increase survival rates. Sponsorship can be financial, as with tax incentive structures, public and private grant programs, or early stage private investment. …Read More
How Do Product Attributes and Reviews Moderate the Impact of Recommender Systems through Purchase Stages?
We investigate the impact of several different recommender algorithms (e.g., Amazon.com’s “Consumers who bought this item also bought”), commonly used in ecommerce and online services, on sales volume and diversity, using field experiment data on movie sales from a top retailer in North America. …Read More
Economics of Leveraged Buyouts: Theory and Evidence from the UK Private Equity Industry
Empirical analysis of a sample of companies with private equity (PE) ownership in the UK shows that PE firms act as deep-pocket investors for their portfolio companies, rescuing them if they fall in financial distress.…Read More
Competition, Technology Licensing-in, and Innovation
Although the relationship between competition and firm innovation has long been of scholarly interest, prior research has predominantly considered changes in internal research and development (R&D) as a strategic response to competitors’ actions.…Read More
(How) Do Risky Perks Benefit Firms? The Case of Unlimited Vacation
This paper addresses the recent trend of offering unlimited vacation to employees. While potentially useful for acquiring human capital benefits, unlimited vacation is a risky perk for firms due to the possibility of abuse.…Read More
You Only Get One Shot: Restricting the Number of Times Consumers Can Access Content Increases Their Resource Allocation During Information Processing
Most digital communication platforms store content and allow users to see it multiple times. Despite the benefits that recording content holds for both users and companies, many applications delete it after it was seen by the receiver (i.e., ephemeral communication channels). …Read More
Commuting and Innovation: Are Closer Inventors More Productive?
Commuting is costly for employees, but is it costly for employers in terms of lost productivity? We study the causal effects of commuting distance on inventor productivity. Specifically, we estimate how inventor productivity changes when their employer relocates.…Read More
Consumer Preferences and Firm Technology Choice
Advances in intelligent technologies change the way consumers search and shop for products. Emerging is the trend of home-shopping devices such as Amazon’s Alexa and Google Home, which allow consumers to search or order products using voice commands.…Read More
The Impact of Acquisitions on Clinical Decisions: Evidence from Physician Practice Management Companies
Mergers and acquisitions are rapidly transforming the organization of physician services in the United States, raising concerns over the cost and the quality of health care. This paper studies how medical practice acquisitions by Physician Practice Management Companies (PPMCs) impact physician behavior and patient health.…Read More
The Short-run Effects of GDPR on Consumer Engagement and Search
In today’s connected world, individuals are no longer mere consumers of goods, information and services, but public producers of often valuable data. In fact, personal data is becoming such a core input that The Economist called it “the world’s most valuable resource” ahead of oil.…Read More
Estimating the Impact of Consumer Privacy Regulations
This study aims to measure the impact of General Data Protection Regulations on firms and consumers. Specifically, we plan to document GDPR’s impact on consumers search and discovery of products, and firm’s ability to reach out and sell to a broad set of consumers.…Read More
Does Private Equity Ownership Make Firms Cleaner? The Role Of Environmental Liability Risks
As VC firms have an acute interest in high-tech companies, they potentially bear substantial risk of patent litigation. In this project, we aim at looking into the following questions: how do ex-ante and ex-post patent litigation risks affect VC firms’ investment strategies and how those risks is propagated among all portfolio companies they have invested?…Read More
Artificial Intelligence and Drug Innovation: A Large Scale Examination of the Pharmaceutical Industry
Artificial Intelligence (AI) is playing an increasingly important role in the global economy and has transformed many business practices. As AI has advanced beyond the conventionally narrow domains, it is starting to exhibit characteristics of “general purpose technologies (GPT)” that are expected to change the nature of more business innovations and reduce their associated financial costs and time.…Read More
Alliance-Network Externalities and Firm Innovation: Separating Endogenous from Exogenous Network Effects
We investigate whether the effect of network position on innovation is causal or spurious. Although empirical evidence demonstrates that certain structural positions in alliance networks (e.g. structural holes) affect firm innovation, it is hard to disentangle the factors allowing a firm to put itself in a certain position from the innovation outcomes that stem from being in that position.…Read More
Progress and Setbacks: The Two Faces of Technology Emergence
Emerging technologies are an important driver of economic growth. However, the process of their emergence may not only be characterized by technological progress but also by setbacks. We offer a perspective on technology emergence that explicitly incorporates setbacks into the technology’s evolution and explains how industry participants may react to setbacks in emerging technologies.…Read More
Fostering Sustainability through Ecosystems for Renewable Energy in India
This paper focuses on promoting the sustainability of renewable energy ecosystems to ensure socio-economic development. This is critical for emerging economies where rising demand for energy is likely to deplete resources rapidly.…Read More
Does Immediate Feedback Make You Not Try as Hard? A Study on Automotive Telematics
Technological innovation is changing the landscape of many industries, and automotive telematics devices are perhaps the most disruptive technology for the auto insurance industry and most automotive manufacturers have plans to develop telematics. Moreover, a number of startup companies use telematics devices in various applications. …Read More
Optimal Uniform Capital Taxation in a Partially Automated Society
A recent rapid-automation movement has been displacing routine labor and has sparked a series of discussions about taxation on automation such as a robot tax. However, the government’s dilemma is that the planner may want to tax such physical capital that displaces routine labor for redistributive motives but does not want to tax other physical capital that increases such workers’ productivities.…Read More
Implications of Paycheck Variation on Retention
Uber. Upwork. TaskRabbit. The world of work is transforming and my research agenda attempts to identify and explain 1) how work is changing and 2) how these changes affect workers, especially those who are marginalized or vulnerable.…Read More