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887 items in total found

Journal Articles | 2020

Unpacking the effects of adverse regulatory events: Evidence from pharmaceutical relabelling

Matthew J. Higgins, Xin Yan, and Chirantan Chatterjee

Research Policy

We provide causal evidence that regulation induced product shocks significantly impact aggregate demand and firm performance in pharmaceutical markets. Event study results suggest an average loss between $569 million and $882 million. Affected products lose, on average, $186 million over their remaining effective patent life. This leaves a loss of between $383 million and $696 million attributable to declines in future innovation. Our findings complement research that shows drugs receiving expedited review are more likely to suffer from regulation induced product shocks. Thus, it appears we may be trading off quicker access to drugs today for less innovation tomorrow. Results remain robust to variation across types of relabeling, market sizes, and levels of competition.

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Journal Articles | 2020

The takeoff of open source software: A signaling perspective based on community activities

Pankaj Setia, Barry L. Bayus, and Balaji Rajagopalan

MIS Quarterly

A few open source software (OSS) products exhibit an abrupt and significant increase in downloads. However, the majority of OSS products fail to gain much interest. Identifying early success is important for catalyzing growth in OSS markets. However, previous OSS research has not examined early product success dynamics and assumes adoption to be a continuous process. We propose OSS takeoff in adoptions as a measure of eventual product success. Takeoff is a nonlinear inflection point separating the early development from the growth phase in the product lifecycle. Using arguments from the signaling literature, we propose that community activities send signals about product quality and reduce information asymmetry faced by potential adopters of OSS products. Estimating a Cox proportional hazard model using a large sample of OSS products from SourceForge, we find that takeoff times are significantly associated with signals of quality deficiency and improvement. Further, we find that target audience and product innovativeness moderate this relationship. Posted online August 10, 2020

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Journal Articles | 2020

Responses to COVID-19: The Role of governance, healthcare infrastructure, and learning from past pandemics

Amalesh Sharma, Sourav Bikash Borah, and Aditya C. Moses

Journal of Business Research

The ongoing COVID-19 outbreak has revealed vulnerabilities in global healthcare responses. Research in epidemiology has focused on understanding the effects of countries’ responses on COVID-19 spread. While a growing body of research has focused on understanding the role of macro-level factors on responses to COVID-19, we have a limited understanding of what drives countries’ responses to COVID-19. We lean on organizational learning theory and the extant literature on rare events to propose that governance structure, investment in healthcare infrastructure, and learning from past pandemics influence a country’s response regarding reactive and proactive strategies. With data collected from various sources and using an empirical methodology, we find that centralized governance positively affects reactive strategies, while healthcare infrastructure and learning from past pandemics positively influence proactive and reactive strategies. This research contributes to the literature on learning, pandemics, and rare events.

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Journal Articles | 2020

Celebrity endorsements in destination marketing: A three country investigation

Subhadip Roy, Wioleta Dryl, and Luciana de Araujo Gil

Tourism Management

The present study extends research on the role of celebrity endorsements in destination marketing by exploring various facets of the effect of celebrity endorsements in destination marketing on the consumer. More specifically, theories of source credibility, congruence, social identity and consumer cosmopolitanism, are used to build research questions that investigate the relative effectiveness of a celebrity endorsed tourism advertisement vis a vis a generic advertisement and the boundary conditions governing the same such as destination type (local/global), celebrity country of origin and consumer level factors. The research questions are addressed using four experimental studies in sequence. The same four experiments are run in three countries with different socio-cultural backgrounds to enhance generalization, with a combined sample size of 1073 respondents. Major findings suggest that a celebrity endorser is effective for a destination advertisement. Significant cross-country differences were observed in consumer affect depending on the choice of celebrity (local or global) and the destination type (i.e., domestic or international). The effects are also moderated by consumer cosmopolitanism. The study has multiple theoretical and managerial implications.

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Journal Articles | 2020

Disentangling shock diffusion on complex networks: identification through graph planarity

Sudarshan Kumar, Tiziana Di Matteo, and Anindya S Chakrabarti

Journal of Complex Networks

Large scale networks delineating collective dynamics often exhibit cascading failures across nodes leading to a system-wide collapse. Prominent examples of such phenomena would include collapse on financial and economic networks. Intertwined nature of the dynamics of nodes in such network makes it difficult to disentangle the source and destination of a shock that percolates through the network, a property known as reflexivity. In this article, we propose a novel methodology by combining vector autoregression with an unique identification restrictions obtained from the topological structure of the network to uniquely characterize cascades. In particular, we show that planarity of the network allows us to statistically estimate a dynamical process consistent with the observed network and thereby uniquely identify a path for shock propagation from any chosen epicentre to all other nodes in the network. We analyse the distress propagation mechanism in closed loops giving rise to a detailed picture of the effect of feedback loops in transmitting shocks. We show usefulness and applications of the algorithm in two networks with dynamics at different time-scales: worldwide GDP growth network and stock network. In both cases, we observe that the model predicts the impact of the shocks emanating from the USA would be concentrated within the cluster of developed countries and the developing countries show very muted response, which is consistent with empirical observations over the past decade.

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Journal Articles | 2020

A new solution approach for multi-stage semi-open queuing networks: an application in shuttle-based compact storage systems

Govind Lal Kumawat and Debjit Roy

Computers & Operations Research

Multi-stage semi-open queuing networks (SOQNs) are widely used to analyze the performance of multi-stage manufacturing systems and automated warehousing systems. While there are several methods available for solving single-stage SOQNs, solution methods for multi-stage SOQNs are limited. Decomposition of a multi-stage SOQN into single-stage SOQNs and evaluation of an individual single-stage SOQN is a possibility. However, the challenge lies in obtaining the job departure process information from an upstream single-stage SOQN to evaluate the performance of a downstream single-stage SOQN. In this paper, we propose a two-moment approximation approach for estimating the squared coefficient of variation of the job inter-departure time from a single-stage SOQN, which can serve as an input to link multi-stage SOQNs. Using numerical experiments, we test the robustness of the proposed approach for various input parameter settings for both single and multi-class jobs. We find that the proposed approach works quite well, particularly when the coefficient of variation of the job inter-arrival time is less than two. We demonstrate the efficacy of the proposed approach using a case study on a multi-tier shuttle-based compact storage system and benchmark our results with an existing approach. The results indicate that our approach yields more accurate estimates of the performance measures in comparison to the existing approach in the literature.

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Journal Articles | 2020

The COVID-19 pandemic and food insecurity: a viewpoint on India

Khushbu Mishra and Jeevant Rampal

World Development

In this article, we present our viewpoint on COVID-19 pandemic and one of the humanitarian challenges it will likely pose: food insecurity. We begin our article by presenting the status of hunger and food insecurity around the world, followed by that in lower and middle income countries, and in India. Then we discuss the COVID-19 lockdown and India’s current economic status, followed by India’s ranking in the 2019 Global Hunger Index (GHI) as well as hunger-related facts on Indian women and children. Then after, we discuss the damages to lives caused by COVID-19 and hunger with implications for food insecurity, nutritional status, productivity, education, and wage earnings (based on literature). More importantly, we discuss various complimentary steps to preventing COVID-19 related deaths with steps to preventing deaths related to food insecurity and hunger for the immediate, medium, and long terms. Finally, we provide a concluding paragraph highlighting the need for the Indian government to carefully combine governmental and non-governmental interventions, in reducing India’s food insecurity and hunger rates despite the COVID-19 related slowdown.

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Journal Articles | 2020

Financial misconduct, fear of prosecution and bank lending

Abhiman Das, Avijit Bansal, and Saibal Ghosh

Economic and Political Weekly

The issue and relevance of financial misconduct and fear of prosecution on the lending behaviour of Indian banks is investigated by combining bank-level financial and prudential variables during 2008–18 with a unique hand-collected data set on financial misconduct and fear of prosecution. The findings indicate that, in the presence of financial misconduct, state-owned banks typically cut back on credit creation and instead increase their quantum of risk-free investment. In terms of magnitude, a 10% increase in financial misconduct lowers lending by 0.2% along with a roughly commensurate increase in investment. In terms of the channels, it is found that private banks increase provisioning to maintain their credit growth, although the evidence for state-owned banks is less persuasive.

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Journal Articles | 2020

Too much care: Private healthcare sector and caesarean sections in India

Mitul Surana and Ambrish Dongre

Economic and Political Weekly

In the context of India where public expenditure on healthcare is low, the private sector plays an important role in delivering healthcare during childbirth. An analysis of the latest round of National Family Health Survey data to estimate the differential probability of caesarean sections in private medical facilities relative to government facilities, and focusing on unplanned C-sections, reveals that the probability of an unplanned C-section is 13.5–14 percentage points higher in the private sector. These results call for a critical assessment of the role of private sector in healthcare in the context of inadequate public provision, expanding private provision and weak governance structures.

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Journal Articles | 2020

Oliver Williamson: The man who reduced the transaction cost of economics

Ranjan Ghosh and Yugank Goyal

Economic and Political Weekly

On 21 May 2020, one of the most cited economists of all time and a key contributor to organisational studies, Oliver E Williamson passed away. His intellectual apparatus of transaction cost economics is a powerful tool to explain a range of real-life phenomena across a variety of disciplines with impeccable practical implications.

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