论文速递 | Management Science 二月文章精选（上）

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在本系列文章中，我们梳理了顶刊Management Science2月份发布有关OR/OM以及相关应用的文章之基本信息，旨在帮助读者快速洞察行业/学界最新动态。本文为第一部分（1/2）。

推荐文章1

● 题目：Retail Buyer and Manufacturer Influence

零售买手与制造商的影响

● 原文链接：https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2021.01646

● 作者：Upender Subramanian , Z. John Zhang 

● 发布时间：2024.02.05

● 摘要：

Retailers often employ professionals known as retail buyers to determine the right quantities of products to order. However, in many economies and industries, a manufacturer may seek to unduly influence the buyer through various means. One such means is to offer the buyer kickbacks (incl. entertainment, travel, gifts) in return for a large order. Despite prominent examples of retailers taking initiatives against kickbacks, the practice persists in many economies and industries. To aid initiatives combating kickbacks, one needs to do the right diagnosis and identify the root cause. To this end, in this paper, we introduce the retail buyer as a distinct player in the retail channel and study the implications of the tug-of-war between the retailer and the manufacturer to influence the buyer. Interestingly, we find when kickbacks are feasible, the manufacturer need not always benefit, and the retailer need not always be the victim. We show a well-designed buyer compensation plan is key for the retailer to avoid kickbacks from distorting the buyer’s demand assessments. Moreover, when the reputational harm from kickbacks is not too high, the retailer may be the one tacitly facilitating kickbacks by undercompensating the buyer and influencing her demand assessments such that it can leverage kickbacks for shifting some of its buyer compensation cost to the manufacturer. This sharing of cost may allow for better channel coordination. Furthermore, this cost-shifting mechanism of kickbacks we have identified in this paper can explain their persistence. No retailer tolerates kickbacks when the reputational harm is high.

零售商通常雇用被称为零售买手的专业人员来确定订购产品的正确数量。然而，在许多经济体和行业中，制造商可能会通过各种手段不当地影响买手。其中一种手段是向买手提供回扣（包括娱乐、旅行、礼物），以换取大额订单。尽管有零售商采取行动反对回扣的突出例子，但这种做法在许多经济体和行业中仍然存在。为了支持打击回扣的倡议，需要进行正确的诊断并找出根本原因。为此，在本文中，我们将零售买手作为零售渠道中的一个独立参与者，并研究零售商和制造商之间影响买手的“拉锯战”的影响。有趣的是，我们发现当回扣可用时，制造商并不总是受益，零售商也并不总是受害者。我们展示了一个精心设计的买手薪酬计划，这对于零售商避免回扣扭曲买手的需求评估至关重要。此外，当回扣的声誉损害不太严重时，零售商可能是在默许地通过低报酬买手并影响她的需求评估，以便利用回扣将部分买手薪酬成本转嫁给制造商。这种成本共享机制可能有助于更好地协调渠道。此外，我们在本文中识别的回扣的这种成本转嫁机制可以解释它们为何一直存在。在声誉损害较大时，没有零售商会容忍回扣。

推荐文章2

● 题目：Are Political and Charitable Giving Substitutes? Evidence from the United States

政治捐赠和慈善捐赠是替代品吗？来自美国的证据

● 原文链接：https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2021.00845

● 作者：Pinar Yildirim , Andrei Simonov , Maria Petrova , Ricardo Perez-Truglia

● 发布时间：2024.02.05

● 摘要：

Using microdata from the American Red Cross (ARC) and the Federal Election Commission (FEC) in two natural experiments, we provide evidence that political giving and charitable giving are substitutes. In the first natural experiment, we estimate the effects of a positive shock to charitable donations to the ARC: foreign natural disaster events. We find that although charitable donations to ARC increase by 34.9% in the six weeks following a disaster, political donations decline by 18.8% in the same period. Put differently, each 1% increase in the charitable giving to ARC is accompanied by a 0.53% drop in political donations. At the average county-week–level donations, the implied effect of a $1 increase in charitable giving is a $0.42 decline in political donations. In the second natural experiment, we estimate the effects of a positive shock to political giving: advertisements for political campaigns. Exploiting geographic discontinuities in advertising markets, we find that political advertisements increase political giving, whereas they decrease charitable donations to ARC. Our estimates imply that each 1% increase in the political giving is accompanied by a 0.59% drop in charitable donations to ARC. At the average county-week–level donations, the implied effect of a $1 increase in political giving is a $0.33 decline in charitable donations. The crowding-out elasticities suggest that political giving and charitable giving are relatively close substitutes. We provide a number of robustness checks, and we discuss potential causal mechanisms

利用美国红十字会（ARC）和联邦选举委员会（FEC）的微观数据进行两次自然实验，我们提供了政治捐赠和慈善捐赠是替代品的证据。在第一个自然实验中，我们估计了对ARC的慈善捐款的正面冲击的效应：外国自然灾害事件。我们发现，尽管在灾难发生后的六周内对ARC的慈善捐款增加了34.9％，但在同一时期政治捐款下降了18.8％。换句话说，每1％慈善给予ARC的增加伴随着政治捐款的下降0.53％。在平均县-周级别的捐款水平上，慈善捐赠每增加1美元，政治捐赠下降0.42美元。在第二个自然实验中，我们估计了对政治捐款的正面冲击的效应：政治竞选的广告。利用广告市场中的地理不连续性，我们发现政治广告会增加政治捐赠，而减少对ARC的慈善捐赠。我们的估计表明，每1％政治捐款的增加伴随着对ARC的慈善捐赠的下降0.59％。在平均县-周级别的捐款水平上，政治捐赠每增加1美元，慈善捐赠下降0.33美元。替代弹性表明，政治捐赠和慈善捐赠是相对接近的替代品。我们提供了一系列鲁棒性检查，并讨论了潜在的因果机制。

推荐文章3

● 题目：Political Influence, Bank Capital, and Credit Allocation

政治影响，银行资本与信贷分配

● 原文链接：https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2022.04056

● 作者：Sheng Huang , Anjan V. Thakor 

● 发布时间：2024.02.08

● 摘要：

Political influence on bank credit allocation is often viewed as being necessary to address social problems like income inequality. We hypothesize that such influence elicits bank capital responses. Our hypothesis yields three testable predictions for which we find supporting evidence. First, when banks observe election outcomes that suggest greater impending political credit-allocation influence, they reduce capital to increase fragility and deter political influence. Second, banks subject to greater political influence nonetheless increase lending that politicians favor, and household consumption consequently increases. Third, these banks exhibit poorer post-lending performance. Our study has implications for the interaction between politics, household consumption, and bank risk through a specific channel—the interplay between credit-allocation regulation and bank capital structure.

政治对银行信贷分配的影响通常被认为是解决社会问题如收入不平等所必需的。我们假设这种影响引起了银行资本的响应。我们的假设得出三个可检验的预测，同时我们找到了支持性的证据。首先，当银行观察到即将有更大政治信贷分配影响的选举结果时，它们会减少资本以增加脆弱性并阻止政治影响。其次，受到更大政治影响的银行仍然增加了政治家青睐的贷款，因此家庭消费增加。第三，这些银行展现出较差的贷后表现。通过一个具体的渠道——信贷分配监管和银行资本结构之间的相互作用，我们的研究对于政治、家庭消费和银行风险之间的相互作用具有意义。

推荐文章4

● 题目：Unifying Procedure-Dependent Preference Reversals: Theory and Experiments

统一程序独立的偏好反转：理论与试验

● 原文链接：https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2021.02640

● 作者：Liang Guo 

● 发布时间：2024.02.09

● 摘要：

Revealed preferences between alternatives can be systematically reversed across a variety of elicitation procedures (e.g., choice, valuation, matching, joint/separate evaluation). These puzzling findings have been usually invoked to challenge the procedure invariance principle. Yet procedure-dependent preferences can be endogenous. This paper presents a unifying theory of contextual deliberation to account for seemingly disparate phenomena of preference reversals. When attribute importance is ex ante imperfectly known, people can engage in costly information retrieval/acquisition activities (i.e., deliberation) prior to making decisions. Elicitation procedures can influence revealed preferences through affecting the incentive for deliberation. Therefore, contextual deliberation can endogenously yield procedure-dependent preference reversals, offer a common microfoundation for extant psychological accounts (e.g., the prominence hypothesis, the evaluability hypothesis), and coherently organize apparently unrelated/inconsistent findings in the literature. We also run five experiments and document new findings that are inconsistent with extant hypotheses but can be reconciled by contextual deliberation.

在各种诱导程序（例如选择、估值、匹配、联合/独立评估）中，替代方案之间的显性偏好可能会系统地发生反转。这些令人困惑的发现通常被用来挑战程序不变性原则。然而，依赖于程序的偏好可能是内生的。本文提出了一种有关情境思考的统一理论，以解释偏好反转的看似不同现象。当属性重要性事前不完全知晓时，人们在做决定之前可能会进行昂贵的信息检索/获取活动（即思考）。诱导程序可以通过影响进行思考的激励来影响显性偏好。因此，情境思考可以内生地导致依赖于程序的偏好反转，为现有的心理学解释（例如突出假设、可评估性假设）提供一个共同的微观基础，并有条理地组织文献中看似无关/不一致的发现。我们还进行了五项实验，记录了与现有假设不一致但可以通过情境思考来解释的新发现。

推荐文章5

● 题目：Proximate (Co-)Working: Knowledge Spillovers and Social Interactions

近距（共同）工作：知识溢出与社交互动

● 原文链接 ：https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2022.03555

● 作者：Maria P. Roche , Alexander Oettl , Christian Catalini

● 发布时间：2024.02.14

● 摘要：

We examine the influence of physical proximity on between-start-up knowledge spillovers at one of the largest technology coworking hubs in the United States. Relying on the exogenous assignment of office space to the hub’s 251 start-ups, we find that proximity positively influences knowledge spillovers as proxied by the likelihood of adopting an upstream web technology already used by a peer start-up. This effect is largest for start-ups within close proximity of each other and quickly decays; start-ups more than 20 meters apart on the same floor are indistinguishable from start-ups on different floors. The main driver of the effect appears to be social interactions. Although start-ups in close proximity are most likely to participate in social coworking space events together, knowledge spillovers are greatest between start-ups that socialize but are dissimilar. Ultimately, start-ups that are embedded in environments that have neither too much nor too little diversity perform better but only if they socialize.

我们研究了物理距离对美国最大科技联合办公中心之一中，初创企业之间的知识溢出的影响。通过为该中心的251家初创企业分配办公空间的外生安排，我们发现，企业之间接近程度会正面影响知识溢出，表现为采用同行初创企业已使用的上游网络技术的可能性。这种影响在彼此靠近的初创企业中最为显著，但迅速减弱；在同一楼层上相距超过20米的初创企业与不同楼层的初创企业之间没有明显差异。这种影响的主要驱动因素似乎是社交互动。尽管接近的初创企业最有可能一同参与社交联合办公空间活动，但知识溢出在那些社交但不相似的初创企业之间最为显著。最终，嵌入在既不过于多样化也不过于单一的环境中的初创企业表现更好，但前提是它们参与社交互动。

推荐文章6

● 题目：Disruptions, Redundancy Strategies, and Performance of Small Firms: Evidence from Uganda

业务中断，冗余策略以及小型企业的表现：来自乌干达的证据

● 原文链接：https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2023.4978

● 作者：Amrita Kundu , Stephen J. Anderson , Kamalini Ramdas 

● 发布时间：2024.02.15

● 摘要：

We study the impact of firm-specific business disruptions on the performance of small emerging market firms and test the effectiveness of building in redundancies to buffer against disruptions. Managerial disruptions result in the absence of the entrepreneur-owner, whereas operational disruptions lead to a shortage of critical resources, for example, inventory or electricity. We propose the use of relational redundancy—that is, the availability of a trusted and capable person with whom the entrepreneur-owner has an existing relationship, who can manage the business in his or her absence—to recover from managerial disruptions. We also examine whether resource redundancy—for example, maintaining safety stock or electricity backup—helps recover from operational disruptions. In the absence of publicly available data, we hand-built a panel data set by interviewing 646 randomly selected small firms over four time periods in Kampala, Uganda. We find that disruptions are highly prevalent and have a statistically and economically significant effect on firm performance. When a firm faces multiple exogenous and severe disruptions in a six-month period, its monthly sales decrease by 13.8% (p = 0.013), and its sales growth decreases by 18.8 percentage points (p = 0.070). Importantly, we find that both managerial and resource redundancies can help firms build resilience against the negative impact of disruptions. In some cases, firms with high levels of redundancy are able to completely overcome the negative effect of disruptions on sales and sales growth. We discuss implications for entrepreneurs, policymakers, and large multinationals that buy from or sell to small emerging market firms.

我们研究了公司特定的业务中断对小型新兴市场企业绩效的影响，并测试了构建冗余以缓解中断的有效性。管理中断导致企业所有者/创业者的缺席，而运营中断则导致关键资源（例如库存或电力）的短缺。我们提出了关系冗余的使用——即存在一个受信任且能力卓越的个人，与企业所有者/创业者存在现有关系，可以在其缺席时管理业务——以从管理中断中恢复。我们还研究了资源冗余（例如，保持安全库存或备用电源）是否有助于从运营中断中恢复。在缺乏公开可用数据的情况下，我们通过对乌干达坎帕拉的646家小型企业进行了四个时间段的随机采访，手动构建了一个面板数据集。我们发现中断普遍存在，并对企业绩效产生了统计学和经济学上显著的影响。当一个企业在六个月内面临多次外部且严重的中断时，其月销售额减少了13.8%（p = 0.013），其销售增长率减少了18.8个百分点（p = 0.070）。重要的是，我们发现无论是管理冗余还是资源冗余都可以帮助企业对抗中断的负面影响。在一些情况下，拥有高水平冗余的企业能够完全克服中断对销售和销售增长的负面影响。我们还讨论了对创业者、政策制定者和与小型新兴市场企业交易的大型跨国公司的影响。