Articles

Impact of Average Rating on Social Media Endorsement: The Moderating Role of Rating Dispersion and Discount Threshold

X. LI

Information Systems Research

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Départements : Information Systems and Operations Management, GREGHEC (CNRS)


Incentive programs for reducing readmissions when patient care is co-produced

A. ANDRITSOS, C. S. TANG

Production and Operations Management

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Départements : Information Systems and Operations Management, GREGHEC (CNRS)

Mots clés : co-productive services, hospital readmissions, pay-for-performance, bundled payment

https://onlinelibrary.wiley.com/doi/abs/10.1111/poms.12847


To reduce preventable readmissions, many healthcare systems are transitioning from Fee-for-Service (FFS) to other reimbursement schemes such as Pay-for-Performance (P4P) or Bundled Payment (BP) so that the funder of a healthcare system can transfer to the hospital some of the financial risks associated with patient re-hospitalizations. To examine the effectiveness of different schemes (FFS, P4P, and BP), we develop a "health co-production" model in which the patient's readmissions can be "jointly controlled" by the efforts exerted by both the hospital and the patient. Our analysis of the equilibrium outcomes reveals that FFS cannot entice the hospital and the patient to exert readmission-reduction efforts. Relative to BP, we find that P4P is more "robust" in the sense that it can induce readmission-reduction efforts under milder conditions. However, BP can induce greater efforts compared to P4P. More importantly, we characterize the conditions under which BP (or P4P) is the dominant scheme from the funder's perspective. Finally, we find that patient cost-sharing can generate two benefits: (a) it provides incentive for patients to exert efforts; and (b) if not excessive, it can reduce the readmission rate

Life-Cycle Asset Allocation with Ambiguity Aversion and Learning

K. PEIJNENBURG

Journal of Financial and Quantitative Analysis

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Départements : Finance, GREGHEC (CNRS)


NGOs and the Creation of Value in Supply Chains

O. CHATAIN, E. PLAKSENKOVA

Strategic Management Journal

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Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : NGO, Non-Governmental Organizations, Nonprofit, Firm-NGO collaboration, Value creation


Research abstractFirms and NGOs often collaborate to establish new supply chains. With a formal model, we analyze how NGOs can alleviate market failures and improve supplier economic inclusion while strategically interacting with firms. We account for the specific goals of the NGO and the need to induce collaboration between firms and their suppliers. The analysis reveals a "valley of disappointment", when NGO efforts benefit all actors but only marginally the firm. We also show that more powerful firms might prefer to internalize NGO functions, while firms with lower bargaining power and higher investment requirements are better off collaborating with NGOs. Finally, we study NGOs-firms matching patterns and find that firms with higher bargaining power match with NGOs holding stronger capabilities.Managerial abstractThis paper analyzes interactions between firms and NGOs aiming to improve the economic inclusion of suppliers or to promote the adoption of specific (e.g., sustainable) practices. For firm executives, this study shows the constraints and benefits associated with working with NGOs, the conditions under which integration of NGO functions is preferable, as well as the types of NGOs that offer better prospects for a successful collaboration. For NGO executives, it highlights the need to provide enough economic incentives to firms and suppliers alike to ensure their collaboration and the tradeoffs associated with this constraint, in particular if NGO capabilities are limited. Overall, the study provides a comprehensive understanding of how NGO activities can influence value creation in a vertical value chain.

Non-additivity in accounting valuation: Theory and applications

L. PAUGAM, Jean-François CASTA, H. STOLOWY

Abacus

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Départements : Comptabilité et Contrôle de Gestion, GREGHEC (CNRS)

Mots clés : Choquet capacities, Goodwill, Growth options, Non-additive accounting-based valuation, Productive efficiency, Synergies

https://onlinelibrary.wiley.com/doi/abs/10.1111/abac.12125


This paper has three objectives. First, to introduce a theoretical solution to the issue of non-additivity between assets in place, relying on an accounting-based valuation approach. Second, to explain how such an approach can be implemented empirically by measuring synergies between assets. Third, to present the properties of this non-additive valuation technique. We use Choquet capacities, that is, non-additive aggregation operators, to measure the interactions between assets and apply our methodology to a sample of US firms from the capital goods industry. To operationalize our approach we examine the relationships between synergies-captured by Choquet capacities-and the market-to-book ratio (proxying for growth options), and show how interactions between assets are consistently linked to a firm's market-to-book ratio. We also measure firm-specific productive efficiency relative to the industry and firm size. For large firms, efficiency, as defined by our approach, is positively associated with higher future operating cash flows. For small firms, efficiency is positively associated with higher future sales growth. We document that the non-additive approach appears to be better able to identify expected relationships between efficiency and future performance than a simpler approach based on the market-to-book ratio. © 2018 Accounting Foundation, The University of Sydney

Perception‐Theoretic Foundations of Weighted Utilitarianism

R. ARGENZIANO, I. GILBOA

Economic Journal

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Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

https://onlinelibrary.wiley.com/doi/abs/10.1111/ecoj.12622


We provide a microfoundation for a weighted utilitarian social welfare function that reflects common moral intuitions about interpersonal comparisons of utilities. If utility is only ordinal in the usual microeconomic sense, interpersonal comparisons are meaningless. Nonetheless, economics often adopts utilitarian welfare functions, assuming that comparable utility functions can be calibrated using information beyond consumer choice data. We show that consumer choice data alone are sufficient. As suggested by Edgeworth (1881), just noticeable differences provide a common unit of measure for interpersonal comparisons of utility differences. We prove that a simple monotonicity axiom implies a weighted utilitarian aggregation of preferences, with weights proportional to individual jnd's. This article is protected by copyright. All rights reserved

Pitfalls in Systemic-Risk Scoring

C. PERIGNON

Journal of Financial Intermediation

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Départements : Finance, GREGHEC (CNRS)


Re-Thinking the CSP-CFP Linkage: Analyzing the Mechanisms Involved in Translating Socially-Responsible Behavior to Financial Performance

A. MEHRPOUYA, Imran CHOWDHURY

Advances in Strategic Management

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Départements : Comptabilité et Contrôle de Gestion, GREGHEC (CNRS)


Reinforcing The Public Law Taboo: A Note on Nikiforidis v. Hellenic Republic

M. M. WINKLER, E. AVATO

European Law Review

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Départements : Droit et fiscalité, GREGHEC (CNRS)

Mots clés : mandatory rules, EU private international law, Rome I Convention, Rome I Regulation


This article hinges on the preliminary ruling rendered by the Court of Justice of the European Union (ECJ) (Grand Chamber) on 18 October 2016 and the related judgment of the German Federal Labour Court of 26 April 2017 in the Nikiforidis case to investigate an area of private international law that is undergoing a substantial development: overriding mandatory provisions. In Nikiforidis, the ECJ excluded that two Greek laws cutting the salary of public employees may be enforced against a teacher working in Germany for the Greek government under an employment contract governed by German law. The question addressed to ECJ was whether said laws were “overriding mandatory provisions” according to the Rome I Regulation. The court denied it, and left to the referring court to determine whether they could nevertheless operate “as matter of fact” under the governing law. This article explains how the ECJ’s conclusion has broader implications by regulating third countries’ interference in international business transactions. Starting with an analysis of the case, the article examines the history and nature of overriding mandatory provisions under EU private international law and argues that the solution embraced by the ECJ leaves room to uncertainty and unpredictability in the operation of foreign mandatory provisions

Seeking and Avoiding Choice Closure to Enhance Outcome Satisfaction

Y. GU, S. BOTTI, D. FARO

Journal of Consumer Research

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Départements : Marketing, GREGHEC (CNRS)

Mots clés : choice closure, outcome valence, satisfaction, prediction error, rule overgeneralization

https://academic.oup.com/jcr/advance-article-abstract/doi/10.1093/jcr/ucy025/4956242?redirectedFrom=fulltext


Consumers gain choice closure when they perceive a sense of finality over a past decision and limit comparisons between the selected and the forgone options. We investigate consumers’ ability to make strategic use of choice closure to enhance outcome satisfaction. Seven studies show that consumers experience greater satisfaction when they achieve choice closure with an inferior outcome and when they do not achieve choice closure with a superior outcome; however, they expect to be more satisfied by avoiding choice closure with an inferior outcome and by seeking it with a superior outcome. We provide a rationale for this experience—expectation contrast based on rule overgeneralization. Consumers form their expectation on an implicit rule learned and internalized in a context in which it is appropriate and advantageous: when they aim to increase satisfaction with a future choice; however, consumers erroneously apply the same implicit rule to a different context, one in which they aim to increase satisfaction with a past choice. We conclude that consumers are unlikely to be able to make strategic use of choice closure to enhance satisfaction with the outcome of a decision they have made


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