Managerial and Decision Economics最新文献_第3页

Can Bank Regulatory Technology (RegTech) Boost Corporate Investment Efficiency? Evidence From Matched Bank–Firm Loan Data 银行监管科技（RegTech）能提高企业投资效率吗？来自匹配的银行-公司贷款数据的证据

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2025-05-07 DOI: 10.1002/mde.4552

Yawen Li, Yufei Xia, Huiyi Shi, Na Li, Zhengxu Shi

{"title":"Can Bank Regulatory Technology (RegTech) Boost Corporate Investment Efficiency? Evidence From Matched Bank–Firm Loan Data","authors":"Yawen Li, Yufei Xia, Huiyi Shi, Na Li, Zhengxu Shi","doi":"10.1002/mde.4552","DOIUrl":"https://doi.org/10.1002/mde.4552","url":null,"abstract":"<div>\u0000 \u0000 <p>Banks are dedicated to serving the real economy. In recent years, regulatory technology (RegTech) has served as a prime focus in the banking sector and may further spillover to external parties. This paper aims to investigate whether bank RegTech enhances corporate investment efficiency (CIE) through its influence on lending activities. Using novel matched bank–firm loan data from 2013 to 2023, we empirically demonstrate that bank RegTech improves CIE. A 1% rise in the standard deviation of bank RegTech corresponds to a maximum of approximately 18.13% improvement in average CIE. Specifically, bank RegTech enhances CIE by mitigating financing constraints, strengthening governance capabilities, and reducing operational risks. The beneficial effects of bank RegTech on CIE are further amplified by information transparency and media coverage, while industry competition weakens this effect. The impact of bank RegTech on CIE exhibits heterogeneous characteristics, varying with different dimensions of bank RegTech and firm-level characteristics. Our results still hold after alleviating endogeneity concerns and performing robustness checks. Furthermore, we find that improvements in CIE enhance firm performance, stimulate innovation, and promote job creation.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 6","pages":"3683-3710"},"PeriodicalIF":2.7,"publicationDate":"2025-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144767401","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Optimal Product Quality and Live Streaming Introduction Strategy for Brand Owners Considering Information Interaction and Deceptive Promotion 考虑信息交互和欺骗性促销的品牌商最优产品质量与直播导入策略

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2025-05-06 DOI: 10.1002/mde.4551

Cuihua Zhang, Xiangru Zhao, Henry Xu

{"title":"Optimal Product Quality and Live Streaming Introduction Strategy for Brand Owners Considering Information Interaction and Deceptive Promotion","authors":"Cuihua Zhang, Xiangru Zhao, Henry Xu","doi":"10.1002/mde.4551","DOIUrl":"https://doi.org/10.1002/mde.4551","url":null,"abstract":"<div>\u0000 \u0000 <p>The information interaction features and deceptive promotion phenomena in live streaming e-commerce significantly influence consumers' purchase decisions, directly affecting brand owners' choices regarding their live streaming strategies. In light of this, the impacts of information interaction and deceptive promotion on the purchase behavior of strategic consumers are considered, and a two-period model of consumer utility and brand owner profit is constructed under nine optional sales scenarios. By optimizing the equilibrium solutions to models and conducting a comparative analysis, this study explores the impacts of factors such as informative degree, deceptive promotion degree, and penalty costs on the brand owner's optimal strategy of product quality and the selection of live streaming modes (including whether to provide live streaming, when to introduce it, and whether to conduct deceptive promotion during live streaming) under different scenarios. Moreover, the conditions in which the brand owner is more inclined to opt for deceptive promotion strategies are revealed. These findings provide optimal operational strategies for brand owners in live streaming sales while offering support for government and regulatory agencies seeking effective measures to combat deceptive promotion.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 6","pages":"3666-3682"},"PeriodicalIF":2.7,"publicationDate":"2025-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144767612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How Does Kantian Optimization Matter in Union Bargaining Agenda? 康德最优化理论在工会谈判议程中的作用？

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2025-05-01 DOI: 10.1002/mde.4548

Leonard F. S. Wang, Di Wu, Can Yang

引用次数: 0

Price Discrimination and Government Supervision Under Unreliable Consumer Oversight in the Context of the Platform Economy 平台经济背景下消费者监督不可靠下的价格歧视与政府监管

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2025-04-30 DOI: 10.1002/mde.4544

Jiaquan Yang, Yixia Huang, Yihui Zhu, Jiafu Su

{"title":"Price Discrimination and Government Supervision Under Unreliable Consumer Oversight in the Context of the Platform Economy","authors":"Jiaquan Yang, Yixia Huang, Yihui Zhu, Jiafu Su","doi":"10.1002/mde.4544","DOIUrl":"https://doi.org/10.1002/mde.4544","url":null,"abstract":"<div>\u0000 \u0000 <p>We consider an evolutionary game involving an e-commerce platform (EP) and a government regulatory department (GRD), in which the EP determines whether to carry out price discrimination under unreliable consumer oversight and the GRD decides whether to monitor the EP taking into account the supervision cost. Analytical results reveal that, when consumer oversight is notably unreliable, or even when it is somewhat reliable but the conditions are not ripe for government supervision, price discrimination is inevitable. With the presence of consumer oversight, the GRD can deter the EP from engaging in price discrimination without incurring significant supervision costs, enjoying a “free ride” in maintaining market fairness. However, when the GRD's supervision cost are sufficiently low, or even if they are not low but consumer oversight remains highly unreliable, it becomes advantageous for the GRD to supervise the EP. Contrary to the prevailing notion that the GRD ought to vigorously enhance consumer oversight, our research indicates that augmenting the consumer oversight reliability may not always be in the GRD's best interest. Furthermore, as time progresses, bolstering the reliability of consumer oversight is instrumental in swiftly eradicating prevalent price discrimination, while diminishing the cost associated with supervision would facilitate the prompt initiation of government supervision.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 6","pages":"3619-3637"},"PeriodicalIF":2.7,"publicationDate":"2025-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144768028","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Supervision Shadows and Information Silence: The Real Effect of Institutional Investor Distraction 监管阴影与信息沉默：机构投资者分散的真实效应

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2025-04-30 DOI: 10.1002/mde.4541

Manman Li, Yong Ye

引用次数: 0

The Effect of ESG on Stock Mispricing: Empirical Evidence From China's A-Share Listed Companies ESG对股票错误定价的影响：来自中国a股上市公司的经验证据

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2025-04-30 DOI: 10.1002/mde.4550

Tao Yin, Yiyun He, Han Gao, George Xianzhi Yuan

{"title":"The Effect of ESG on Stock Mispricing: Empirical Evidence From China's A-Share Listed Companies","authors":"Tao Yin, Yiyun He, Han Gao, George Xianzhi Yuan","doi":"10.1002/mde.4550","DOIUrl":"https://doi.org/10.1002/mde.4550","url":null,"abstract":"<div>\u0000 \u0000 <p>In this paper, the effect of ESG performance on stock mispricing is explored across all A-share listed companies from 2010 to 2022. The research scope consists of all A-share listed companies from 2010 to 2022, and both the effect of ESG performance and the underlying mechanisms are explored. The findings of this study indicate a negative relationship between ESG performance and stock mispricing which suggests that improved ESG performance is effective in decreasing stock price discrepancies. In addition, corporate heterogeneity was considered in additional analysis and indicates that the reducing influence of ESG performance on stock mispricing becomes more evident in specific types of companies consisting of those with weaker internal controls, non–state-owned status, operation outside of polluting industries, and those experiencing considerable financing limitations. Mechanism tests suggest that ESG performance contributes to the reduction of stock mispricing through the enhancement of digital transformation and greater transparency. Finally, the study considered conditions of low credibility in corporate information disclosure and market instability. Under these specific conditions, ESG performance demonstrates a significant negative effect on stock mispricing for companies with a smaller proportion of institutional investors. Through the insights gained from this research, companies can effectively work to lower stock mispricing. Enhancing corporate value can be achieved by companies through rigorous ESG standard disclosure and increased transparency. These actions, accordingly, promote market transparency and stability. Finally, these improvements contribute to the advancement of overall environmental and social governance. This study holds practical implications for both corporations and the financial market.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 6","pages":"3638-3656"},"PeriodicalIF":2.7,"publicationDate":"2025-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144768029","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Online Payment Technological Innovation and Changes in Household Saving Rate: Evidence From China 网络支付技术创新与居民储蓄率变化：来自中国的证据

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2025-04-28 DOI: 10.1002/mde.4549

Anran Dai, Shaoan Huang

引用次数: 0

Tail Dependence of Liquidity and Volatility in Carbon Futures Market: Evidence From EU ETS 碳期货市场流动性和波动性的尾部依赖性：来自EU ETS的证据

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2025-04-28 DOI: 10.1002/mde.4545

Xiaohan Cai, Bo Yan

引用次数: 0

User-Generated Content, Social Media Bias, and Slant Regulation 用户生成内容、社交媒体偏见和倾斜监管