顶天立地，争创一流科研成果 | 图鉴2023

上海财经大学商学院坚持“顶天立地”的科研发展战略，积极引导教师聚焦聚焦学科前沿和国家重大需求，开展“中国问题、国际范式”的国际化高水平研究。2023年以来，商学院科学研究和社会服务能力稳步提升，研究领域的标志性理论创新成果不断涌现。本期《图鉴2023》，我们摘选2023年部分教师、学生发表在国际一类和国内权威A期刊上的论文，以飨读者。

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  (以下按论文发表时间、先国际后国内期刊排序。)

  
  

聂光宇

世经国贸系

出版时间

2023年1月

期刊

American Economic Journal-Macroeconomics

论文题目

Uncovering the Effects of the Zero Lower Bound with an Endogenous Financial Wedge

作者

聂光宇 等合作发表

论文摘要

We study the effects of the zero lower bound (ZLB) on the severity offinancial crises using an incomplete markets New Keynesian model with two occasionally binding constraints: a ZLB on the nominal interest rate and a borrowing constraint tied to an asset price. The model's financial wedge corresponds to an endogenous multiplier on the borrowing constraint. Binding ZLB exacerbates financial crises through its interaction with the asset fire sale vicious cycle, driving up the financial wedge. Our results offer a novel reinterpretation of the negligible effect of the ZLB in representative agent New Keynesian models with exogenous wedges.

刁文

市场营销系

出版时间

2023年5月

期刊

Marketing Science

论文题目

Consumer Fairness Concerns and Dynamic Pricing in a Channel

作者

刁文 等合作发表

论文摘要

The extant literature has shown that when a firm increases its price because of increased demand, some consumers may have fairness concerns and experience psychological disutility when buying the firm’s product. This paper provides a two-period model to study the effects of consumers’ fairness concerns on firms’ dynamic pricing strategies and profits in a channel. Our analysis reveals a strategic link between the two periods—the retailer has a cost-reduction incentive of lowering its first-period price to induce the manufacturer to reduce the wholesale price in the second period. When the retailer’s cost-reduction incentive prevails, in equilibrium, the retail price stays unchanged, whereas the wholesale price decreases over time. Hence, our results provide an alternative explanation for the empirical observation that retail prices typically do not decrease when wholesale prices do. Further, we find that a higher demand increase in the second period can lead to a decrease in both wholesale and retail prices. Importantly, we show that consumer fairness concerns can result in a win-win outcome for the manufacturer and the retailer, which suggests that firms may prefer not using tactics such as price framing to alleviate fairness concerns.

殷倩波

运营管理系

出版时间

2023年6月

期刊

Production and Operations Management

论文题目

Effects of Consumers’ Context-Dependent Preferences on Product Bundling

作者

殷倩波 等合作发表

论文摘要

Bundling can change consumers' choice set and affect their purchase decision. It is well documented that consumers' preferences depend on the bundling context. In this paper, we investigate the effects of consumers' context-dependent preferences (CDPs) on the firm's optimal bundling strategy in various competitive situations. We consider a market where a monopolist firm in product category A also sells a product in product category B. We analyze three scenarios in category B: (1) an independent firm selling a higher quality product, (2) two independent firms selling the higher quality product, and (3) the monopolist in category A is also a monopolist in category B. We find that CDPs can indeed change the firm's optimal bundling strategy. When the firm has a competitive disadvantage in category B, CDPs encourage the firm to offer the bundle (by either pure bundling or mixed bundling). Furthermore, if category B market is so competitive that the firm possesses negligible market power, mixed bundling can be strictly more effective at increasing the firm's profit than pure bundling because mixed bundling can better take advantage of CDPs. In contrast, if the firm has monopoly power in both categories, CDPs discourage the introduction of the bundle, and pure-component selling is optimal.

丁浩员

世经国贸系

出版时间

2023年7月

期刊

Production and Operations Management

论文题目

Social Embeddedness and Supply Chains: Doing Business with Friends vs. Making Friends in Business

作者

丁浩员 等合作发表

论文摘要

Network literature has widely documented that the managerial ties between corporate leaders in two firms can promote their economic exchanges in supply chains, that is, social embeddedness. In this study, we strive to advance this line of inquiry by exploring the dynamics of such socially embedded supply chains, examining whether and when the dissolution of managerial ties between two firms would cause the subsequent termination of their supplier–buyer exchanges. We address this question by distinguishing two types of socially embedded supply chains based on their different relational origins: business-with-friend links in which the managerial ties precede the supply chains, and friend-in-business links in which the supplier–buyer exchanges precede the managerial ties. We posit that the managerial tie dissolution has a negligible effect on the subsequent termination of supply chains in business-with-friend links. In contrast, in friend-in-business links, the dissolution of managerial ties between two firms is associated with a significantly higher likelihood for their supplier–buyer exchanges to dissolve afterward. We find strong empirical evidence for the above propositions using a nuanced data set that integrates the managerial tie information and the supply chain data. In sum, we show that socially embedded supply chains with different origins (“doing business with friends” vs. “making friends in business”) would have distinct patterns of evolution and dissolution.

裴思琦

市场营销系

在线发表时间

2023年8月

期刊

Information Systems Research

论文题目

Online Food Delivery Platforms and Female Labor Force Participation

作者

裴思琦 等合作发表

论文摘要

The literature often explains female labor force participation through factors such as schooling, wage gaps, and fertility. In this study, we identify how technology-induced time savings from household chores increase female labor force participation in South Korea. Using a leads-and-lags difference-in-differences model, we find that entry of an online food delivery platform significantly increased the female employment rate in the three years following the platform’s entry, and the results still hold after excluding employment in the food and beverage sector. Our further analyses show that such digital platforms offered a pathway for women to break free from traditional household roles, thus granting them more time and the opportunity to decide whether to join the labor market or stay at home. We examine the positive externalities generated by the online food delivery platform and find that this new technology-induced female employment accounted for 0.27% of South Korea’s GDP, or 17 times the platform’s direct revenue.

郑磊

战略与创新创业系

出版时间

2023年11月

期刊

Organization Science

论文题目

How Do Performance Goals Influence Exploration-Exploitation Choices?

作者

郑磊 等合作发表

论文摘要

Employees in organizations are frequently subject to performance goals such as sales or publication targets. However, often employees do not know what actions will allow them to meet these goals. To perform such tasks effectively, employees need to explore to quickly learn from experience which among the available alternatives offers the higher reward potential, so that they can concentrate subsequent efforts on exploiting it. Prior work models such explore-exploit problems as an adaptive learning process, where employees sequentially sample various options and learn from feedback. However, we currently do not know how performance goals influence this adaptive learning process. We argue that performance goals influence the adaptive learning process by modifying how feedback is perceived. Individuals subject to challenging goals are more likely to interpret feedback from poor alternatives as failures. Therefore, they quickly develop high belief strength that the inferior alternative is worse than the superior alternative, enabling them to reduce “useless exploration,” but also making them slow to adapt to environmental shocks. We test our predictions in a series of laboratory experiments and find that decision makers subject to challenging goals exploit more (relative to those with moderate goals). We also show that such an exploitation focus, while beneficial in stable environments, is detrimental in unstable ones. Our finding that challenging performance goals improve performance in learning tasks stands in contrast to prior findings that such goals inhibit performance in search tasks, an insight that warrants further study to improve our understanding of goal setting in the knowledge economy.

Sangjo Kim

运营管理系

出版时间

2023年12月

期刊

Production and Operations Management

论文题目

Complementarity Analysis of a Multi-Item Inventory Model with Leading Product Pricing

作者

Sangjo Kim 等合作发表

论文摘要

Our research investigates a joint inventory replenishment and pricing problem, where a seller controls the price of a leading product while restocking for all the products. We demonstrate that the seller's expected value functions present an L-(sic)-concave structure, recommending an optimal order-up-to inventory-level and list-price policy. Our findings reveal divergent economic relationships between products from the seller's and customer's perspectives, suggesting managers broaden their strategies beyond customer viewpoints. We extend the pricing and inventory analysis to scenarios involving three substitute products under both price and inventory control. In these situations, we further reveal that sellers and customers uniformly view product inventories as substitutes, and the corresponding value functions are submodular and mutually diagonally dominant.

李文浩

运营管理系

在线发表时间

2023年12月

期刊

Journal of Machine Learning Research

论文题目

Dimension Reduction in Contextual Online Learning via Nonparametric Variable Selection

作者

李文浩 等合作发表

论文摘要

We consider a contextual online learning (multi-armed bandit) problem with high-dimensional covariate x and decision y. The reward function to learn, f (x, y), does not have a particular parametric form. The literature has shown that the optimal regret is , where d x and d y are the dimensions of x and y, and thus it suffers from the curse of dimensionality. In many applications, only a small subset of variables in the covariate affect the value of f, which is referred to as sparsity in statistics. To take advantage of the sparsity structure of the covariate, we propose a variable selection algorithm called BV-LASSO, which incorporates novel ideas such as binning and voting to apply LASSO to nonparametric settings. Using it as a subroutine, we can achieve the regret , where d x is the effective covariate dimension. The regret matches the optimal regret when the covariate is d x -dimensional and thus cannot be improved. Our algorithm may serve as a general recipe to achieve dimension reduction via variable selection in nonparametric settings.

刁文

市场营销系

出版时间

2023年12月

期刊

Production and Operations Management

论文题目

Competition between P2P Ride-Sharing Platforms and Traditional Taxis

作者

刁文 等合作发表

论文摘要

Over the past decade, the surge of peer-to-peer (P2P) ride-sharing has significantly cut the market share and profitability for taxis, but taxis remain a major service provider in the personal transportation service industry. This paper analyticallyexamines a market with two segments of consumers based on their travel distances, where a P2P platform and a traditional taxi company have different inconvenience costs and compete for customers through pricing. Our analysis shows that consumers’ inconvenience costs and the relative size or travel–distance heterogeneity of the two consumer segments play an important role in determining the firms’ equilibrium targeting and pricing decisions. We find that the taxi's inconvenience cost can have non-monotonic effects on firms’ prices. An increase in the taxi's inconvenience cost can reduce both firms’ profits because it can induce both firms to lower their prices. In an extension, we show that distance-based price discrimination (charging different unit prices based on the consumer's travel distance) can lead to win–win or lose–lose outcomes for both firms. Our results have useful managerial and regulatory implications.

朱林可

世经国贸系

出版时间

2023年3月

期刊

经济学（季刊）

论文题目

声誉禀赋、质量信息不对称与出口产品结构

作者

朱林可 等合作发表

论文摘要

本文通过质量信息不对称环境下的市场主体行为框架，廓清微观企业的出口行为逻辑，理论阐述国家质量声誉如何作为要素禀赋影响贸易结构，并对跨国贸易数据进行考察。研究发现，声誉禀赋显著影响出口产品结构；与传统禀赋相比，声誉禀赋对贸易结构的影响程度在经济意义上同样显著；国家质量声誉对垂直差异化程度高、水平差异化程度低的产品在出口结构上影响更大，如果出口目的国GDP及人均GDP更高或者出口距离更近，影响程度也会更大。

贺小刚

战略与创新创业系

舒心（学）

商学院博士

出版时间

2023年9月

期刊

管理科学学报

论文题目

外戚“干政”?姻亲涉入与家族企业代理成本

作者

贺小刚, 舒心(学) 等合作发表

论文摘要

由血缘与姻缘关系所缔结的家族企业一直受到诸多学者的关注，但长期以来姻亲与血亲成员被完全等同，假定他们在目标、决策行为等方面具有同质性。本研究以公司实际控制人的姻亲家族成员作为分析对象，基于社会嵌入理论提出了姻亲代理人假说.基于中国家族上市公司的数据，研究发现：公司实际控制人的姻亲方成员涉入企业将显著提高家族企业的代理成本，姻亲代理人假说得到验证；公司实际控制人的中立的父辈对家族冲突起到显著的缓解作用，有助于弱化姻亲成员涉入企业所产生的代理成本。另外，实际控制人的配偶涉入和血亲涉入会产生不同于姻亲涉入的代理成本，不同亲缘关系远近的血亲与姻亲参与治理也会带来不同程度的代理成本；女性家庭地位与公司非家族大股东的制衡将对姻亲涉入所带来的代理成本起到不同的作用。本研究进一步丰富了家族企业代理问题的研究成果，对家族企业建立完善的治理机制具有重要的借鉴意义。

鲍晓华

世经国贸系

谢正莹(学)

商学院博士

出版时间

2023年11月

期刊

经济学（季刊）

论文题目

原产地规则与企业链长——基于区域价值链的视角

作者

鲍晓华,谢正莹(学) 合作发表

论文摘要

后疫情时代全球价值链生产体系系统性风险加剧,我国迫切需要打造区域价值链来维护产业链供应链安全。原产地规则难以适应碎片化的全球价值链生产模式,却为巩固区域价值链提供了契机。本文基于区域价值链的视角,考察原产地规则对企业生产阶段区位配置的影响。通过构建异质性企业出口行为选择模型,揭示了原产地规则影响企业区域价值链长度的理论机制。并以中国东盟自贸区协议签订为准自然实验,利用三重差分法进行了实证检验。研究发现,原产地规则通过企业生产成本和贸易成本影响了区域价值链的发展。

余典范

产业经济系

龙睿(学)

商学院硕博

王超(学)

商学院博士

出版时间

2023年11月

期刊

经济研究

论文题目

数字经济与边界地区污染治理

作者

余典范,龙睿(学),王超(学)合作发表

论文摘要

边界污染问题严重影响环境治理的整体效果，阻碍边界地区实现产业提档升级，一直以来受到各界的广泛关注。现有的监察式手段往往治标不治本，并未从根本上削弱边界污染的动机。本文采用2013—2019年边界地级市的面板数据，以边界乡镇面积占比衡量城市边界属性的差异，考察了数字经济对边界地区污染的治理效果及其作用机制。研究发现：数字经济对破解边界地区污染治理难题具有显著效果，且主要通过打破市场分割和增强追踪监管能力的途径发挥作用。与此同时，数字经济的正向溢出效应能够有效化解边界污染中的负外部性，本地区数字经济的发展会通过经济联系对相邻地区的污染水平产生抑制效果，降低地方政府竞争带来的负面激励。异质性分析发现，在区域协同水平较低和连片特困地区，数字经济对边界污染的抑制效应更加明显。本文的研究表明，政府应高度重视数字经济在边界污染治理中的作用，加强政府与市场的协同以及跨区域经济联系，降低边界污染的驱动力，实现边界地区的绿色高质量发展。

来源 ｜ 商学院学科科研办公室

责编 ｜ 吕建华 审编 ｜ 沈梦雪