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Oversight and Efficiency in Public Projects: A Regression Discontinuity Analysis

Authors: Eduard Calvo, Ruomeng Cui and Juan Camilo Serpa

Publication: Management Science, Forthcoming

Abstract:

In the U.S., four in ten public infrastructure projects report delays or cost overruns. To tackle this problem, regulators often scrutinize the project contractor’s operations. We investigate the causal effect of government oversight on project efficiency by gleaning 262,857 projects that span seventy-one U.S. federal agencies and 54,739 contractors. Our identification strategy exploits a regulatory bylaw: if a project’s anticipated budget exceeds a threshold value, the contractor’s operations are subject to surveillance from independent procurement officers; otherwise, these operational checks are waived. Using a regression discontinuity design, we find that oversight is obstructive to the project’s operations, especially when the contractor (i) has no prior experience in public projects, (ii) is paid with a fixed-price contract that includes performance-based incentives, and (iii) performs a labor-intensive task. In contrast, oversight is least obstructive — or beneficial — when the contractor (i) is experienced, (ii) is paid with a time-and-materials contract, and (iii) performs a machine-intensive task.

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Published: 10 Jul 2018

Karla Sayegh Receives Best Student Paper Award for her Thesis Work at OBHC Conference

Karla Sayegh, PhD Student in Strategy & Organization, received the best student paper award for her thesis work at the 11th International Organizational Behaviour in Health Care (OBHC) Conference held in Montreal from May 13 –16, 2018.  

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Published: 14 Jun 2018

Supply Chain Proximity and Product Quality

Authors: Robert Bray, Juan Serpa and Ahmet Colak

Publication: Management Science, Forthcoming

Abstract:

We explore the effect of supply chain proximity on product quality by merging four independent data sources from the automotive industry, collecting: (i) auto component defect rates, (ii) upstream component factory locations, (iii) downstream assembly plant locations, and (iv) product-level links connecting the upstream and downstream factories. Combining these four datasets allows us to trace the flow of 27,807 products through 529 supplier factories and 275 assembly plants. We estimate that increasing the distance between an upstream component factory and a downstream plant by an order of magnitude increases the component’s expected defect rate by 3.9%. We also find that shorter inter-factory spans are associated with more rapid product quality improvements, and that supply chain distance is more detrimental to quality when automakers: (i) produce early generation models or (ii) high-end products, (iii) when they buy components with more complex configurations, or (iv) when they source from suppliers who invest relatively little in research and development

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Published: 11 Jun 2018

Patient-centric design of long-term care networks

Authors: Paul Intrevado,  Vedat Verter and Lucie Tremblay

Publication: Health Care Management Science, Forthcoming

Abstract:

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Published: 8 Jun 2018

Low birth weight is associated with increased fat intake in school-aged boys

Authors: Adrianne R. Bischoff, André K. Portella, Catherine Paquet, Roberta Dalle Molle, Aida Faber, Narendra Arora, Robert D. Levitan, Patrícia P. Silveira and Laurette Dubé

Publication: British Journal of Nutrition, Vol. 119, No. 11, June 2018

Abstract:

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Published: 4 Jun 2018

The prediction of oil price turning points with log-periodic power law and multi-population genetic algorithm

Authors: Fangzheng Cheng, Tijun Fan, Dandan Fan and Shanling Li

Publication: Energy Economics, Vol. 72, May 2018

Abstract:

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Published: 4 Jun 2018

Cutting the Cord: Mutual Respect, Organizational Autonomy, and Independence in Organizational Separation Processes

Authors: Rene Wiedner and Saku Mantere

Publication: Administrative Science Quarterly, Forthcoming

Abstract:

Based on a longitudinal, qualitative analysis of developments in the English National Health Service, we develop a process model of how organizations divest or spin off units with the aim of establishing two or more autonomous organizational entities while simultaneously managing their continued interdependencies. We find that effective organizational separation depends on generating two types of respect—appraisal and recognition respect—between the divesting and divested units. Appraisal respect involves showing appreciation for competence or the effort to achieve it, while recognition respect requires considering what someone cares about—such as values or concerns—and acknowledging that they matter. The process model we develop shows that open communication is crucial to the development of both. We also find that certain attempts to gain organizational independence and respect may unintentionally undermine the development of autonomy. Counterintuitively, we find that increasing or maintaining interorganizational links via communication may facilitate organizational separation, while attempts by units to distance themselves from one another may unintentionally inhibit it. By linking organizational separation, autonomy, independence, and respect, this paper develops theory on organizational separation processes and more generally enhances our understanding of organizational autonomy and its relations with mutual respect.

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Published: 4 Jun 2018

Professor Kartik Ganju's paper selected as Featured Article in Management Science

Assistant Professor in Information Systems Kartik Ganju's paper "The Spillover Effects of Health IT Investments on Regional Healthcare Costs," with co-authors Hilal Atasoy and Pei-yu Chen was selected by the Managing Editor of Management Science as one of the Featured Articles for the June 2018 issue.

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Published: 4 Jun 2018

Professor Emmanuelle Vaast received Best Paper Award in Academy of Management Annals

Professor Emmanuelle Vaast's paper published in the Academy of Management Annals, "Social Media and Their Affordances for Organizing: A Review and Agenda for Research," with Paul M. Leonardi were co-winners for the Best Paper Award for Volume 11 (2017).

The mission of Annals is to publish up-to-date, in-depth and integrative reviews of research advances in management.

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Published: 29 May 2018

Professor Patrick Augustin wins 2018 Arthur Warga Award for Best Paper in Fixed Income

Assistant Professor in Finance, Patrick Augustin, recently received the 2018 Arthur Warga Award for Best Paper in Fixed Income at the Society for Financial Studies (SFS) Calvalcade North America 2018 with co-authors Mikhail Chernov and Dongho Song.

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Published: 25 May 2018

Informed Options Trading Prior to Takeover Announcements: Insider Trading?

Authors: Patrick Augustin, Menachem Brenner, Marti G. Subrahmanyam

Publication: Management Science, Forthcoming

Abstract:

We quantify the pervasiveness of informed trading activity in target companies' equity options before the announcements of 1,859 U.S. takeovers between 1996 and 2012. About 25% of all takeovers have positive abnormal volumes, which are greater for short-dated out-of-the-money calls, consistent with bullish directional trading before the announcement. Over half of this abnormal activity is unlikely due to speculation, news and rumors, trading by corporate insiders, leakage in the stock market, deal predictability, or beneficial ownership filings by activist investors. We also examine the characteristics of option trades litigated by the SEC for alleged illegal insider trading. While the characteristics of such trades closely resemble the patterns of abnormal option volume in the U.S. takeover sample, we find that the SEC litigates only about 8% of all deals in it.

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Published: 24 May 2018

Inspiration from the 'Biggest Loser': Social Interactions in a Weight Loss Program

Authors: Kosuke Uetake, Nathan Yang 

Publication: Marketing Science, Forthcoming

Abstract: 

We investigate the role of heterogeneous peer effects in encouraging healthy lifestyles. Our analysis revolves around one of the largest and most extensive databases about weight loss that track individual participants' meeting attendance and progress in a large national weight loss program. The main finding is that while weight loss among average performing peers has a negative effect on an individual's weight loss, the corresponding effect for the top performer among peers is positive. Furthermore, we demonstrate that our results are robust to potential issues related to selection into meetings, endogenous peer outcomes, individual unobserved heterogeneity, lagged dependent variables, and contextual effects. Ultimately, these results provide guidance about how the weight loss program should identify role models.

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Published: 4 May 2018

A Large-Scale Approach for Evaluating Asset Pricing Models

Author: Laurent Barras

Publication: Journal of Financial Economics, Forthcoming

Abstract:

Recent studies show that the standard test portfolios do not contain sufficient information to discriminate between asset pricing models. To address this issue, we develop a large-scale approach that expands the cross-section to several thousand portfolios. Our novel approach is simple, widely applicable, and allows for formal evaluation/comparison tests. Its benefits are confirmed in empirical tests of CAPM- and characteristic-based models. While these models are all misspecified, we uncover striking performance differences between them. In particular, the human capital and conditional CAPMs largely outperform the CAPM which suggests that labor income and time-varying recession risks are primary concerns for investors.

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Published: 1 May 2018

CSR types and the moderating role of corporate competence

Authors: Xiaoye Chen, Rong Huang, Zhiyong Yang, Laurette Dube

Publication: European Journal of Marketing, Forthcoming

Abstract: 

Purpose

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Published: 26 Apr 2018

Addressing Complex Societal Problems: Enabling Multiple Dimensions of Proximity to Sustain Partnerships for Collective Impact in Quebec

Authors: Nii Addy and Laurette Dubé

Publication: Sustainability, Vol. 10, No. 4, April 2018

Abstract:

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Published: 12 Apr 2018

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