infonet-economy

This study addresses the important but yet unresolved question of how firms can create com-petitive advantage from their multichannel marketing strategy. More specifically, the authors investigate the antecedents of channel extension strategies and their performance implications. Results from an empirical study including top managers from 308 firms indicate that in addi-tion to…

Recent research questions the existence of a conglomerate discount. This study addresses two of the most important explanations for the conglomerate discount and finds evidence in support of an economically and statistically significant discount. The first explanation is that the risk-reducing effect of diversification increases debt value and consequently the use of the book value…

This article finds strong evidence for the presence of the disposition effect among US mutual fund managers. The analysis can establish a link between the disposition effect and mutual fund characteristics as well as changes in the macroeconomic environment. Managers with a lower disposition effect are found to invest in larger equities with a higher trade volume, a higher past…

This paper provides a theory of incorporation and taxation that emphasizes
the role of the corporate legal form in facilitating access to external capital
and the potential advantages of limited liability. Incorporation relaxes financing
constraints and makes corporations larger than comparable non-corporate
firms. For the same reason, a tax on corporations…

We employ a unique dataset of credit assessments for 3,756 small businesses by nine banks using an identical rating model to examine (i) to what extent loan officers use their discretion to smooth credit ratings of their clients, and (ii) to assess whether this use of discretion is driven by information about the creditworthiness of the borrower or by the insurance of clients against…

Movements in long-term unemployment (LTU) exhibit a substantial cyclical component. I develop a business cycle model featuring labor market frictions and skill loss during unemployment to capture various stylized facts about the cyclical behavior of long-term unemployment. I find that the skill loss mechanism helps reproduce negative duration dependence, high persistence in…

This paper proposes a way to study the transmission mechanism of the US monetary policy to foreign yield curves. It elaborates the high-frequency identification of monetary policy shocks from Piazzesi (2005) in an international setting and uses a sample of 125 policy rate decisions of the Fed to extract "realised" policy shocks. The Fed decisions span from February 1994 to…

This article connects to and extends the attempts to bring space back into critical organizational theory, which, we argue, has mainly been based on the socio-spatial perspective as pioneered by Henri Lefebvre. Taking issue with the various ways in which Lefebvre's work can be interpreted, we develop an alternative route. Adopting a mode of non-representational theorizing as…

This synopsis provides a concise overview of my contributions to the field of gender and diversity in organizations. Organizing my publications as 10 contributions to four distinctive themes of ‘exploring the Other' allowed me to briefly situate my work in the context of the field's four major debates of the last decade. First, my contributions to the theme of the ‘re-…