Managerial and Decision Economics最新文献

When a seller introduces an innovative product, some consumers may anticipate regret and factor it into their decision-making due to uncertain valuation. Motivated by current realities, we analyze the profitability of advance deposit selling strategies, both with and without disclosing the regular price. Using an analytical model incorporating consumers' anticipated regret, this study investigates (i) the optimal selling strategy and profits under consumer regret and (ii) whether a profit-maximizing seller should disclose the regular price in advance. The principal results are the following: (i) For the pre-disclosure strategy, sellers may miss opportunities for higher profits by ignoring consumers' inaction regret. Pre-sales-only strategies are optimal when action regret surpasses a certain threshold; the optimal deposit and the pre-sale price decrease (increase) in tandem with action (inaction) regret. (ii) When sellers do not disclose a regular price in advance, contrary to the pre-disclosure strategy, we find that they should pay more attention to action regret behavior, which can cause them to suffer more profit loss. An effective and interesting way to mitigate the adverse impact of action regret on financial gains is to provide a reservation guarantee: reduce both the deposit and the uncertainty of the regular price. Our paper calls for careful assessments of anticipated regrets. In particular, the seller should give weight to the (action) inaction regret behavior when implementing the (non-) pre-disclosure strategy, respectively.

The government's sharing of data resources is an essential initiative to release the economic value of data factors. However, it is a question to empirically test whether the public can effectively utilize public data to create economic benefits. Based on this, we explore the value-creation effect of public data access at the micro level from the perspective of manufacturing firms' markup. Using a sample of Chinese A-share manufacturing firms from 2009 to 2023, we view launching a city-level public data platform as a quasi-natural experiment and employ the double difference model. We find that public data access significantly improves the markup of manufacturing firms, contributing to value creation at the firm level. The finding remains consistent after robustness tests such as the parallel trend, placebo, and PSM-DID tests. Mechanistic analysis suggests that public data access facilitates manufacturing firms' markup by encouraging firm innovation and alleviating financing constraints. Further, moderating effect tests suggest that excellent data processing capabilities, high-level internal governance, and a transparent urban information environment reinforce the value-creating effects of public data access.

Technological advancements have become an integral part of traditional industries but have also raised the question of how these modern technologies would impact sustainable practices, ethical innovation, and transparency. This study examines the impact of tech-enabled financial disruptions on Environmental, Social, and Governance (ESG) performance using a panel vector autoregression (PVAR) approach to analyze 122 A-listed Chinese financial institutions (5856 quarterly observations) from 2012 to 2023. We examined the dynamic interactions across tech-enabled financial disruptions, Internet Plus, and ESG metrics, providing insights into immediate and delayed effects. The findings reveal that tech-enabled financial disruptions boost ESG performance. However, Internet Plus implementation and its interaction with tech-enabled financial disruptions initially pose challenges but ultimately promote ESG performance as institutions adapt. These results underscore the importance of phased policy rollouts and strategic adaptation to maximize ESG advantages through tech-enabled financial disruptions. Recognizing the critical role of tech-enabled financial disruptions in enhancing ESG performance, this study suggests tailored frameworks that are capable of aligning tech-enabled financial disruptions with broader sustainable development goals for 2030. It also encourages financial institutions to integrate ESG strategies with digitalization from its onset.

The contradiction between economic development and the negative externalities generated by the extraction of ionic rare earth elements, such as resource depletion and environmental pollution, is becoming increasingly prominent. Based on prospect theory, this paper utilizes the perceived value of game players to construct a perceived benefit matrix that differs from the traditional benefit matrix and a tripartite game model. On the basis of the game analysis of the evolution of static reward and punishment mechanisms, three dynamic mechanisms, namely, dynamic reward, dynamic punishment, and dynamic reward and punishment, are successively introduced for analysis. The study demonstrated that under the static reward and punishment mechanism, the three-party evolutionary game is not asymptotically stable. After the introduction of the dynamic mechanism, the evolutionary game becomes asymptotically stable, and all players in the tripartite game show a positive willingness to govern. Furthermore, varying value sensitivity coefficients result in a relatively stable perceived value of governance behaviors in rare earth mine development enterprises. With different value sensitivity coefficients, the perceived value of governance behaviors by rare earth product development enterprises remains relatively stable, while the perceived value of governance behaviors by the government and rare earth product application enterprises is more variable.

The proposal of carbon neutrality has led to a significant growth in green bonds (GBs), sparking in turn widespread attention on whether these bonds are issued for genuinely green objectives or for greenwashing intentions. The extant research has not fully explored the greenwashing issue concerning GBs, particularly due to the controversies in the methods for identifying such practices. Following the outbreak of COVID-19, the global markets have seen a slowdown in the issuance of GBs, whereas China has experienced a surge in its GB market, emerging as the world's foremost issuer of GBs. In light of this economic reality and to address the research gap, this study draws on Chinese GBs as research objects and examines for the first time the issue of greenwashing in GBs through the lens of stock mispricing (SM). The results reveal that the issuance of GBs by companies significantly exacerbates SM, indicating the presence of greenwashing in Chinese GBs. Notably, the greenwashing issue is more pronounced when firms that issue GBs have political connections with the government and experience low financial risks. These findings not only enrich studies on greenwashing in GBs but also offer valuable insights for investors and regulators.

As a rapidly advancing and transformative field, robotics is expected to profoundly reshape the scale, direction, and composition of international trade. However, the extent to which robot adoption affects trade in developing countries remains poorly understood. Our study evaluates the impact of robot adoption on China's product exports, utilizing detailed country-product data from 2009 to 2019. Our findings reveal that increased robot use in production substantially boosts product exports, primarily because of an enhanced comparative advantage in these products. This effect is particularly pronounced in capital-intensive industries and is most evident among resource-based, low-tech, and medium-tech products. Moreover, our research underscores how industry competition amplifies the influence of robot adoption on export growth. Notably, although robot adoption enhances the intensive margin of exports, it reduces the extensive margin. This study significantly expands our understanding of how robot adoption shapes export dynamics in developing economies.