{"title":"Asymmetric Choice of Relative-Performance Delegation Under Duopoly Competition With Vertical Product-Quality Difference","authors":"Shih-Shen Chen, Chu-Chuan Hsu, Po-Sheng Ko","doi":"10.1002/mde.4512","DOIUrl":"https://doi.org/10.1002/mde.4512","url":null,"abstract":"<div>\u0000 \u0000 <p>In this paper, we reexamine the optimal weights on relative performance delegation under price and quantity competition modes with double product differentiation (horizontal product differentiation and vertical product-quality differentiation) pinpointing the strategic asymmetric choice of delegation due to vertical product-quality differentiation. Because the consumers are willing to pay more for higher quality products and for the firm to maintain its reputation, the firm may limit its supply of product without having aggressive selling effort.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 5","pages":"2869-2875"},"PeriodicalIF":2.5,"publicationDate":"2025-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144214153","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}
{"title":"Revisiting the Relationship Between CEO Characteristics and Firm Internationalization: Evidence From a Machine Learning Approach","authors":"Cong Cheng, Yawen Lin, Jian Dai","doi":"10.1002/mde.4507","DOIUrl":"https://doi.org/10.1002/mde.4507","url":null,"abstract":"<div>\u0000 \u0000 <p>This study leverages machine learning (ML) techniques to assess the impact of CEO characteristics on the international performance of firms. Analyzing data from Chinese listed companies between 2008 and 2021, this study evaluates 14 ML algorithms and identifies the random forest model as the most effective. Additionally, the SHapley Additive exPlanations (SHAP) algorithm is employed for result interpretation and visualization. The findings indicate that most CEO traits can predict a firm's international success. Notably, international experience, age, and CEO duality emerge as the top predictors. Specifically, both international experience and CEO duality positively influence performance, while the CEO's age exhibits a complex, non-linear relationship with performance. This study provides a nuanced perspective on how CEO characteristics influence a firm's international success.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 5","pages":"2855-2868"},"PeriodicalIF":2.5,"publicationDate":"2025-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144213910","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}
{"title":"Blockchain-Driven Green Traceability: Greener or More Profitable?","authors":"Shuai Huang, Wenyu Hou","doi":"10.1002/mde.4504","DOIUrl":"https://doi.org/10.1002/mde.4504","url":null,"abstract":"<div>\u0000 \u0000 <p>This study examines the strategic choices of two homogeneous green manufacturers regarding blockchain implementation, considering green traceability and spillover effect. We investigate how blockchain influences both economic and environmental benefits. Our findings reveal that the spillover effect can initially mitigate competition, benefiting early adopters by enhancing green innovation and market capabilities. This can lead to simultaneous profit enhancement for both manufacturers, challenging conventional competitive dynamics. Furthermore, the magnitude of the spillover effect significantly impacts adoption decisions. Low spillover leads to a prisoner's dilemma, where independent adoption is likely. Conversely, high spillover encourages simultaneous adoption, achieving a Pareto-optimal equilibrium. Finally, while individual blockchain adoption may be more environmentally beneficial, simultaneous adoption generally leads to greater economic advantages. This highlights the potential trade-off between economic and environmental outcomes in blockchain-enabled manufacturing.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 5","pages":"2810-2837"},"PeriodicalIF":2.5,"publicationDate":"2025-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144214152","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}
{"title":"Prediction of Retail Chain Failure: Examples of Recent US Retail Failures","authors":"Shawn Berry","doi":"10.1002/mde.4506","DOIUrl":"https://doi.org/10.1002/mde.4506","url":null,"abstract":"<div>\u0000 \u0000 <p>Over the last several years, several prominent brick-and-mortar retail chains have ceased operations, raising concerns that some have referred to as the retail apocalypse. Scholars have attempted to model the likelihood of firm failure using various approaches. This study examines the failures of Bed Bath and Beyond, J.C. Penney, Rite Aid, and Sears Holdings in the United States between 2013 and 2022. Retail failure models that consider internal and external firm factors using both annual reports and macroeconomic data were analyzed and evaluated using logistic regression, PCA, and Random Forest approaches. The findings suggest that EBITDA/Revenue and annual average US inflation rates are strong predictors of retail failure across various modeling approaches. The modeling results provide an early warning signal at least 1–2 years before failure, with accuracies of 93.8%–96.9%.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 5","pages":"2838-2854"},"PeriodicalIF":2.5,"publicationDate":"2025-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144214103","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}
{"title":"How Does New Infrastructure Construction Affect the Supply Chain Risk of Enterprises? Perspective From Supply–Demand Balance","authors":"Shaoyong Wu, Peiwen Zhang, Qiren Liu","doi":"10.1002/mde.4500","DOIUrl":"https://doi.org/10.1002/mde.4500","url":null,"abstract":"<div>\u0000 \u0000 <p>The stability of an enterprise's supply chains serves as a vital cornerstone in the progression of modern economic system development. New infrastructure, epitomized by network and information infrastructure construction, has emerged as a pivotal global strategy to stimulate economic growth. Its impact on the supply chain risk (SCR) of enterprises deserves in-depth exploration. Employing the staggered difference-in-difference (DID) approach, this study investigates the influence and mechanisms of new infrastructure construction (NIC) on the SCR of enterprises from a perspective of supply–demand balance, leveraging the ‘Broadband China’ strategy as a quasi-natural experiment. The results indicate that NIC can mitigate the SCR of enterprises, a conclusion that remains robust after rigorous endogeneity and robustness testing. Mechanism analysis suggests that the enhancement of the level of enterprises' intelligent manufacturing and the reduction of the concentration of upstream and downstream serve as two effective channels through which NIC reduces the SCR of enterprises. Heterogeneity analysis shows that NIC more effectively reduces SCR for large-scale and high-tech enterprises at the enterprise level. At the industry level, NIC is particularly effective in reducing SCR within highly competitive and technology-intensive sectors. Additionally, at the regional level, NIC significantly inhibits SCR for enterprises in areas prone to high natural disaster risk. This study validates the fortifying effect of NIC on the supply chain security of enterprises, providing theoretical references and empirical evidence for enhancing the resilience of global micro supply chains.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 5","pages":"2795-2809"},"PeriodicalIF":2.5,"publicationDate":"2025-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144214102","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}
{"title":"Unraveling Spillovers on Health Insurance: The Impacts of Culture and Fraud on Health Insurance Coverage","authors":"Rajeev K. Goel, James R. Jones, Michael A. Nelson","doi":"10.1002/mde.4502","DOIUrl":"https://doi.org/10.1002/mde.4502","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper adds to the literature on the determinants of health insurance by focusing especially on the spillovers from culture and fraud, along with a set of “standard” determinants. The social aspects of culture and fraud could potentially increase or decrease the propensities of individuals to purchase health insurance, and our empirical analysis informs us in this regard. For this purpose, we employ data for the year 2017 (or the closest year available) across states in the United States for most variables in the model setup. To account for year-to-year variability in the size of the uninsured population and the fraud data, mean annual averages over the years 2017–2022 are used. Employing OLS estimation to cross-sectional data, the results show that cultural tightness (denoting social/cultural cohesion, measured via an index) lowers the propensities to acquire health insurance, and greater fraud (i.e., fraud reports in a US state) also undermines health insurance coverage, albeit with relatively less statistical support. The impact of higher insurance premia depressing insurance coverage is found to be consistent with intuition. The scope of the government, via Medicaid expansion to provide health coverage to certain population groups, was relatively more effective in increasing insurance coverage than the sheer size of the government (i.e., total government spending). The proximity of a state to foreign borders (Canada and Mexico) did not matter. Other things being the same, states with larger land areas faced special challenges in providing health insurance coverage. The findings have importance for the formulation of policies in the public and private sectors, and especially flesh out the crucial, and largely neglected, influence of culture on health insurance purchases.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 5","pages":"2783-2794"},"PeriodicalIF":2.5,"publicationDate":"2025-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144213948","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}
{"title":"Can Enterprise Digital Transformation Improve Resource Allocation Efficiency? Evidence From China","authors":"Zheng Duan, Yifan Zhang","doi":"10.1002/mde.4493","DOIUrl":"https://doi.org/10.1002/mde.4493","url":null,"abstract":"<div>\u0000 \u0000 <p>Digital transformation provides enterprises with the momentum for development. This study analyses a sample of Chinese listed companies from 2011 to 2021 to construct a digital transformation index and assess the resource allocation efficiency of the cities in which these companies operate. It empirically investigates the impact of digital transformation on resource allocation efficiency, while addressing issues of heterogeneity. The findings are as follows: (1) digital transformation enhances resource allocation efficiency; (2) it influences this efficiency by optimizing the structure of human capital, fostering enterprise innovation, and mitigating information asymmetries; and (3) the positive impact of digital transformation on resource allocation efficiency is more pronounced in regions with lower per capita income and smaller urban populations, as well as among high-tech, manufacturing, and state-owned enterprises in these areas. This study contributes to both theoretical and empirical research on resource allocation efficiency and offers a new perspective on digital transformation. It serves as a reference for policymakers in developing relevant digital policies based on regional contexts, provides a foundation for enterprises to expedite their digital transformation efforts, and establishes the groundwork for future research on the role of digital transformation in promoting development in both developed and developing countries.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 4","pages":"2688-2704"},"PeriodicalIF":2.5,"publicationDate":"2025-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143944678","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}
{"title":"Is Blockchain Really Good for E-Platform? A Double-Edged Sword From Consumer Trust and Channel Cannibalization","authors":"Xiaoxi Zhu, Yu Chen, Minglun Ren, Wei Chu","doi":"10.1002/mde.4482","DOIUrl":"https://doi.org/10.1002/mde.4482","url":null,"abstract":"<div>\u0000 \u0000 <p>The application of blockchain technology in e-platforms makes products more reliable and traceable, especially products from third-party retailers without brand authorization. However, this technology will also intensify the competition between authorized retailers and third-party retailers. On the other hand, as intermediaries, e-platforms' profits have also become elusive. We aim to investigate how blockchain technology impacts optimal pricing strategies and profit distribution in a dual-channel supply chain composed of one manufacturer, one e-platform, and two e-tailers. By adopting a Stackelberg game framework, the results show that (1) the e-platforms may not necessarily benefit from blockchain; only when the commission rate and unit usage cost are both small (or large) enough can the platform achieve higher profit. (2) The application of blockchain can yield extra reputation benefits for third-party retailer, while the retail prices of both channels may also be higher. (3) The Pareto improvements show that when manufacturer sells products to official retailer and third-party retailer at different prices, the possibility of successful blockchain implementation increases. (4) When the third-party retailer shares blockchain usage cost, its optimal channel price rises and demand decreases. For the official retailer, changes in pricing depend on competitive intensity. The manufacturer tends to reduce wholesale price under the strategy, benefiting both e-tailers and enhancing product competitiveness and supply chain efficiency.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 4","pages":"2562-2582"},"PeriodicalIF":2.5,"publicationDate":"2025-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143944879","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}
{"title":"Price Stickiness in a Dual-Channel Supply Chain","authors":"Ismail Saglam","doi":"10.1002/mde.4501","DOIUrl":"https://doi.org/10.1002/mde.4501","url":null,"abstract":"<div>\u0000 \u0000 <p>In this paper, we investigate price stickiness in a dual-channel supply chain where a manufacturer sells its product directly through an online retailer and indirectly through an offline retailer. We construct a noncooperative game where the manufacturer and the offline retailer decide whether or not to costlessly adjust their prices after a demand shock. If the demand shock is positive, then no price can be sticky at the unique Nash equilibrium. If the demand shock is negative, then we additionally observe equilibria where some or all prices can be sticky. We also show that no equilibrium is always Pareto optimal.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 5","pages":"2766-2782"},"PeriodicalIF":2.5,"publicationDate":"2025-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144214084","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}
{"title":"How Do Climate-Related Risks and Opportunities Affect Portfolio Allocation and Asset Pricing?","authors":"Maher Asal, Xiaoni Li, Yin Shi","doi":"10.1002/mde.4494","DOIUrl":"https://doi.org/10.1002/mde.4494","url":null,"abstract":"<p>This paper examines the performance of “clean,” “brown,” and “dirty” stocks in the S&P 500 from January 2010 to September 2022 using panel random effect estimation and factor models. It also uses cointegration analysis to assess the long-term relationship between risk premiums and two carbon risk factors: “brown minus clean” and “dirty minus clean.” Finally, we use random walk tests to examine whether carbon risks are priced, and therefore, the S&P 500 market is weakly efficient. Findings indicate that the brown portfolio outperforms the clean portfolio in factor models, likely due to market trends where energy, driven by rising oil and gas prices, outperforms all other sectors. The results also show that the two carbon risks and the political risk have a negative and significant impact on the risk premium and that the excess return series do not follow random walks and are weak form inefficient.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 5","pages":"2746-2765"},"PeriodicalIF":2.5,"publicationDate":"2025-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/mde.4494","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144214087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}