The authors study physicians’ prescription choices when uncertainty about drug efficacy is resolved through two channels: firms’ marketing activities (e.g., detailing) and patients’ experiences with the drugs. They first provide empirical evidence that suggests well-understood information incentive for physicians to experiment new drugs reduced anticipate future detailing. Therefore, increased detailing activity triggers opposing forces: Adoption hastened as become informed (assuming prior...

Excavator operations play a critical role in the productivity of earthworks, yet traditional methods often rely heavily on operators’ intuition and experience, which can lead to inconsistent outcomes. This study investigates how machine guidance (MG) providing real-time feedback relating excavation depth slope modify actions improve performance compared with conventional methods. A controlled experiment was conducted at an active construction site, four footings were excavated using two...

The COVID-19 pandemic has led global investors to draw a parallel between pandemics and climate risk, focusing their attention on risk. We examine COVID-19’s effect investors’ awareness of risk by analysing novel trading data for Korean-listed firms that include investor information. observe institutional divest from high-emission during the market crash induced pandemic, whereas individual do not, suggesting is heterogeneous.

This article shows the statistical significance of a set variables related to market sentiment and uses them predict risk premium embedded in China's sovereign bonds. We construct composite index market-wide investor as linear combination proxies for degree participation appetite investors. Further, we show that these sentiment-related factors can be summarized single-return forecasting factor, similar spirit Cochrane Piazzesi (2005). Our empirical results this factor has predictive power...

Faults represent important analytical targets for the identification of perceptual ground motions and associated seismic hazards. In particular, during oil production, data such as path flow rate fluid flows can be obtained from information on fault location their connectivity. Seismic attributes are conventional methods used detection, whereby analyzed using various property processing methods. The eventually provide properties imaging surfaces. this study, we propose an efficient workflow...

In this paper, we shed light on the dynamic characteristics of rational group behaviors and relationship between monetary policy economic units in financial market by using an agent-based model (ABM), Hurst exponent, Shannon entropy. First, is used to analyze at different levels irrationality. Second, exponent applied trend-following irrationality group. Third, entropy randomness unpredictability behavior. We show that a system focuses macro-monetary policy, steep fluctuations occur, meaning...

Abstract This paper focuses on an unexplored dimension of fund managers’ timing ability: Market‐wide tail risk implied by information in options markets. Constructing the option‐implied risk, we investigate whether hedge managers can strategically time through adjusting their exposure to changes it. Using extensive sample equity‐oriented funds, find strong evidence ability managers. Furthermore, brings significant economic value investors. Top‐ranked funds outperform bottom‐ranked 5–7%...

Previous literature has shown that individual investors in the stock markets trade excessively and underperform market index. Since COVID-19 outbreak 2020, annual trading turnover of Korean is estimated as above 1,600% their investment performance below returns (Kim & Kim, 2021). Their excessive poor are not fully explained by rational motives (i.e., liquidity needs portfolio rebalancing) or information asymmetry, but it might be results irrational decisions originated behavioral biases....

Given the strict censorship in China, would tweets about Chinese economic policy uncertainty by global Twitter users contain valuable information above and beyond existing indices? We construct novel daily monthly frequency "censorship-free" indices of Twitter-based from 2010 onward. Our index significantly spikes during major events. Shocks to our are associated with future stock market returns as well investment, consumption, unemployment, production while not related outputs.

Understanding hospitals' relationships is critical to the analysis of public healthcare environment. There have been many attempts analyze medical environment at a personal level. Recently, an organizational level, there has some advance in research into examining relationship between hospitals. However, formation linkages restricted explicit and direct interactions. In contrast, we focused on implicit information flows This study also analyzes large scale hospital networks based prescribing...

This paper aims to identify car design trends within various automobile manufacturers by investigating two objectives: first, finding similarities between styles among different brands from specify unique designs which lead the trend; second, identifying consistency of brand characteristics through hierarchical clustering.To do that, Fourier decomposition was used quantify 120 cars 23 brands.The calculated similarity index is then compared with network centrality measures clustering...

본 연구에서는 국내 스타트업 사상 최대 규모의 기업결합으로 알려진 2019년 해외 사업자 딜리버리 히어로(DH)와 우아한형제들 간 기업결합에 대해 살펴보고자 한다. 후기 투자단계에서 글로벌 펀드로부터 대규모 투자를 유치하며 유니콘 기업으로 등극한 스타트업은 외에도 복수로 존재하였지만, '민족'이라는 단어가 주는 한국계 기업이라는 인식이 강했던 배달의 민족이 외국 기업에 매각된다는 비난의 목소리는 특히 높았다. 경쟁 제한 가능성과 소비자 후생 저하 등의 이유로 공정거래위원회의 기업결합 승인에 2년이 소요되면서 우아한형제들은 따가운 시선을 받았다. 이에 국내외 배달앱 시장 상황 및 투자 환경, 규제 환경 등을 고려하여 DH와 기업결합을 재조명하고자 이를 통해 성장, 사례로서 우아한 형제의 엑시트가 향후 스타트업의 엑시트 전략 설정에 줄 수 있는 경영학적 시사점을 도출하고자 연구 대상인 우아한형제들와 DH 당시 산업 변화를 고려해보면, 우아한형제들의 결정은 최적의 선택이라고...