Dec 18, 2020 By: yunews
Articles
Dr. S. Abraham Ravid, professor of finance and chair of the finance department, and Dr. Shu Han, associate professor of management information systems, both at , co-published a paper in the Management Science, considered a top journal in all business disciplines. The paper looked at actor replacements in long-running theater shows. Unlike replacements of employees in top positions in other organizations, in theater, the replacement is a clean experiment since all other conditions (the play, the lines, other actors, the physical theater) remain the same鈥攊n short, an excellent measure of the economic value of human capital. The authors found that actors who won prestigious theater awards, as opposed to movie stars or celebrities, drive the value of the show. [鈥淪tar Turnover and the Value of Human Capital- Evidence from Broadway Shows,鈥 Management Science, 66, #2, February 2020, 958-978]
Dr. Ravid along with Drs. Suman Basuroy, Richard Gretz and B.J. Allen from the University of Texas considered the question of whether professional critics are still relevant in an era of omnipresent user reviews in a paper published in the Journal of Cultural Economics. They found that professional reviewers matter much more to the success of motion pictures than users鈥 posts, suggesting that consumers still view reviews from unknown users with some suspicion. [鈥淚s Everybody an Expert? An investigation into the Impact of Professional vs. User Reviews in the Internet Age,鈥 March 2020, volume 44, 57鈥96]
Dr. Ravid and Dr. Naciye Sekerci, assistant professor of finance at the University of Utrecht, published a paper based on Swedish data that shows that investors who hold a significant amount of company shares in their own portfolio work harder to improve firm value. (This study cannot be done in the United States since data on portfolios are not available.) [鈥淟arge Investors鈥 Portfolios and Firm Value,鈥 Journal of Corporate Finance, volume 41, April 2020, Article 101404.]
Dr. Ravid and Dr. Gabriela Coiculescu, assistant professor of finance at Sy Syms, and Dr. Yehuda Izhakian, assistant professor of economics and finance at Baruch College, co-authored a paper presented by Dr. Ravid at the 47th Annual Meeting of the European Finance Association (virtual from Helsinki) in late August and WEFI, an international entrepreneurship conference, in December. The paper shows that ambiguity is important to investments in innovation.
Commentary/Interviews
- 鈥淣o Easy Answers to Coronavirus Disruptions: Economic development is tied to health outcomes, and a recession usually leads to adverse health consequences,鈥 (March 19, 2020 )
- 鈥淟ockdowns aren鈥檛 working if we鈥檙e laying off healthcare workers,鈥 (May 5, 2020)
- 鈥淐OVID-19 pushes business bankruptcies higher in an already tough year,鈥 (June 19,2020)
- 鈥淨uarterly earnings will show how Disney is weathering the pandemic economy,鈥 (Aug. 3, 2020)
- 鈥淢ulling Joe Biden鈥檚 Capital-Gains Tax Hike,鈥 (Aug. 18,2020)
- 鈥淪chool鈥檚 Out, But It鈥檚 Not 麻豆区 the Children: The decision to close schools in New York is far from a 鈥榙ata-driven, science-driven鈥 decision,鈥 (Nov. 30,2020)
- 鈥淥n Joe Biden鈥檚 economic policy,鈥 (Israeli national radio network) (Nov. 2020)
