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In a world going towards automation, I ask whether salespeople making pricing decisions in a high human interaction environment such as business to business (B2B) retail, could be automated, and under what conditions it would be most beneficial. I propose a hybrid approach to automation that combines the expert salesperson and an artificial intelligence model of the salesperson in making pricing decisions in B2B.
This dissertation focuses on utilizing data-driven approaches to objectively measure variation in the quality of care across different hospitals, understand how physicians make dynamic admission and routing decisions for patients, and propose potential changes in practice to improve the quality of care and patient flow management. This analysis was performed in the context of Intensive Care Units (ICUs) and the Emergency Department (ED).
As globalization rises, international experiences are increasingly valued by individuals and organizations. It is commonly assumed that international experiences are conducive to leadership, yet little empirical research has tested this assumption. This omission is critical for several important reasons. First, international experiences are costly. Second, many repatriates actually report that international experiences had a negative impact on their leadership careers.
Using detailed and unique data from Sweden, I show that former insiders trade profitably in the shares of companies with which they used to be affiliated. A trading strategy mimicking former insiders’ trading behavior yields abnormal returns of 7.6% per year. These returns are primarily driven by post-separation purchases rather than by sales. They do not reflect general stock-picking skills: former insiders earn significantly lower abnormal returns when trading in companies with which they have no affiliation.
This dissertation focuses on the identification of the dynamics of risk aversion (price of risk) and economic uncertainties (amount of risk) and their effects on both domestic and international asset markets. In the first essay, I study the differences between global equity return comovements and global bond return comovements and use a consistent and flexible asset pricing framework to motivate and quantify the role of various economic determinants in explaining the comovement difference.
This dissertation examines an underexplored type of innovation - the discovery of new resources. Schumpeter distinguishes among five types of innovation: new products, new processes, new organizations, new markets, and new resources. Most prior work has focused on the first three types of innovation. This study focuses on the last type of innovation, the discovery of new resources, in creative industries where talent is the most important resource of creativity and profit. This dissertation is comprised of three chapters.
Throughout its three chapters, this dissertation examines a phenomenon that, although underappreciated and underinvestigated in the existing literature, should be of great interest to entrepreneurship scholars: angel investing in the United States.
This dissertation studies topics in the areas of empirical corporate finance, banking, and financial intermediation. In the first chapter, entitled Personal Relationships in Loan Renegotiation: Evidence from Corporate Loans, I estimate the effect of personal relationships between a loan officer and a firm on the probability to renegotiate a loan and the outcomes of the renegotiation.
This dissertation presents three essays in financial economics. The essays discuss how market frictions can affect outcomes in the real economy, the returns earned by investors, and the investment decisions made by asset managers. The first essay studies how the liquidity of assets can affect outcomes in the real economy. In particular, it focuses on the life settlement market to show how increased liquidity of life insurance contracts are causally linked to greater life longevity. The second essay studies how inside investments relate to managerial compensation and fund performance.
In the presence of business groups, the expropriation through related party transactions (RPTs) is common and costly to minority shareholders. At the same time, it is well recognized that RPTs can help firms overcome market shortcomings. Using the setting of India's RPT voting rule, I find that a mandatory and binding shareholder voting mechanism helps filter out expropriation. Minority shareholders actively raise their voice against RPT resolutions, resulting in substantial shareholder dissent.