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Halting the Momentum? The Effect of Social Buffering on the Craft Focus of Wholesaler Portfolios 停止势头?社会缓冲对批发商投资组合工艺焦点的影响
Pub Date : 2019-06-20 DOI: 10.2139/ssrn.3413123
Tunde Cserpes, Ingo Kleindienst
We identify which specific types of wholesalers were distributing products from anincreasingly important niche segment of the beer industry, namely craft beer. As traditional recommendations of the strategy literature disregard lock-ins from previous market ties are present, we introduce the notion of social buffering to indicate the embeddedness of organizations into their history of cumulative relationships. We use longitudinal data on distributor establishments and their local portfolio composition between 1997–2016 from three different U.S. states. Our results reveal that it is distributors that are able both to leverage positional strategies in their local portfolios and free themselves from the lock-in associated with their historically beneficial social and market relationships with the large brewers who distribute craft.
我们确定了哪些特定类型的批发商分销的产品来自啤酒行业日益重要的细分市场,即精酿啤酒。由于战略文献的传统建议忽视了先前市场关系的锁定,因此我们引入社会缓冲的概念来表明组织在其累积关系历史中的嵌入性。我们使用了1997年至2016年间来自美国三个不同州的分销商机构及其当地投资组合构成的纵向数据。我们的研究结果表明,分销商既能在当地投资组合中利用定位策略,又能将自己从与分销工艺的大型酿酒厂的历史上有益的社会和市场关系中解放出来。
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引用次数: 0
Business Owners, Financial Risk, and Wealth 企业主、金融风险和财富
Pub Date : 2010-07-01 DOI: 10.2139/ssrn.1658095
T. Gurley-Calvez
Using 1989 to 2007 Survey of Consumer Finances data, this paper addresses three questions: 1) Are business owners generally more or less financially conservative than their non-business-owning counterparts?; 2) Do business owners accumulate more wealth?; and, 3) Do business owners hold a smaller share of their financial assets in risky stock holdings? Results indicate that business owners are financially conservative based on borrowing and savings questions but are more likely to be willing to assume above-average risk for financial gain. Consistent with earlier evidence that entrepreneurs save more, business owners accumulate more wealth over time. Business owners and non-business owners invest similar shares of their financial portfolios in safe assets. Taken together, the results suggest that policies aimed at increasing business ownership should focus on helping households identify high-value business opportunities through transparent tax, legal, and regulatory systems. Efforts to reduce risk should focus on the business venture, such as full loss offsets, rather than focusing on reductions in other financial risks.
利用1989年至2007年的消费者财务调查数据,本文解决了三个问题:1)企业主通常比非企业主的同行在财务上更保守还是更保守?2)企业家积累的财富更多吗?3)企业所有者持有的风险股票在其金融资产中所占的比例是否更小?结果表明,基于借贷和储蓄问题,企业主在财务上是保守的,但更有可能愿意承担高于平均水平的风险以获得财务收益。与早期企业家储蓄更多的证据一致,企业主随着时间的推移积累了更多的财富。企业所有者和非企业所有者将其金融投资组合中的相似份额投资于安全资产。综上所述,研究结果表明,旨在提高企业所有权的政策应侧重于通过透明的税收、法律和监管体系帮助家庭发现高价值的商业机会。减少风险的努力应该集中在商业风险上,比如全额抵消损失,而不是集中在减少其他金融风险上。
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引用次数: 7
Predicting the Next Big Thing: Success as a Signal of Poor Judgment 预测下一件大事:成功是判断力差的信号
Pub Date : 2010-06-07 DOI: 10.1287/mnsc.1100.1220
Jerker Denrell, Christina Fang
Successfully predicting that something will become a big hit seems impressive. Managers and entrepreneurs who have made successful predictions and have invested money on this basis are promoted, become rich, and may end up on the cover of business magazines. In this paper, we show that an accurate prediction about such an extreme event, e.g., a big hit, may in fact be an indication of poor rather than good forecasting ability. We first demonstrate how this conclusion can be derived from a formal model of forecasting. We then illustrate that the basic result is consistent with data from two lab experiments as well as field data on professional forecasts from the Wall Street Journal Survey of Economic Forecasts.
成功地预测某样东西会成为热门似乎令人印象深刻。做出成功预测并在此基础上进行投资的经理和企业家会得到晋升,变得富有,甚至可能登上商业杂志的封面。在本文中,我们证明了对这样一个极端事件的准确预测,例如,一个大打击,实际上可能是一个差而不是好的预测能力的迹象。我们首先证明了这个结论是如何从一个正式的预测模型中得出的。然后,我们说明了基本结果与两个实验室实验的数据以及华尔街日报经济预测调查的专业预测的现场数据一致。
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引用次数: 65
To Disclose or Not? An Analysis of Software User Behavior 披露还是不披露?软件用户行为分析
Pub Date : 2006-04-30 DOI: 10.2139/ssrn.899863
D. Nizovtsev, Marie C. Thursby
This paper addresses the ongoing debate over disclosing information about software vulnerabilities through an open public forum. Using a game-theoretic approach, we show that full public disclosure may be an equilibrium strategy in a game played by rational loss-minimizing agents. We provide conditions under which full public disclosure of vulnerabilities is desirable from a social welfare standpoint. We analyze the effect of several vendor and product characteristics and the composition of the pool of software users on the decisions to disclose and on social welfare. We also examine models in which users may spend effort to develop a fix or threaten vendors to disclose after a grace period. We show that to the extent that users are able to develop fixes for discovered vulnerabilities without inordinate effort, welfare is further improved. This is more likely the more familiar users are with the details of software providing an argument for "open source" software.
这篇论文通过一个开放的公共论坛来解决正在进行的关于披露软件漏洞信息的争论。利用博弈论的方法,我们证明了完全公开披露可能是由理性损失最小化代理进行的博弈中的均衡策略。从社会福利的角度来看,我们提供了充分公开披露脆弱性的条件。我们分析了几个供应商和产品特征以及软件用户池的组成对信息披露决策和社会福利的影响。我们还研究了用户可能花费精力开发修复程序或威胁供应商在宽限期后披露的模型。我们表明,在某种程度上,用户能够为发现的漏洞开发修复程序,而无需过多的努力,福利得到了进一步改善。越熟悉软件细节的用户越有可能为“开源”软件提供论据。
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引用次数: 27
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Kauffman: Small Research Projects (Topic)
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