Fall 2020 and Spring 2021 Seminars

 
Date Title/Speaker Abstract

11/18

Majeed Siman, Stevens Institute of Technology  
11/11 Volodymyr Babich, Professor of Operations and Information Management, McDonough School of Business, Georgetown University  
11/04 Anu Wadhwa, Imperial College, London  
10/28

Institutional bond ownership and firms' information environment

Xinyuan (Stacie) Tao, NJIT

Chunchi Wu, State University of New York at Buffalo

Using a unique data set provided by eMAXX, we uncover evidence that institutional bond ownership helps to improve firms’ information environment. This improvement is greater for firms with poorer disclosure and long-term institutional investors with large holdings. The improved information environment reduces investors’ costs of information gathering and trading, thereby enhancing monitoring and liquidity. Important, institutional bond ownership lowers information risk and volatilities through the channels of improved disclosure and monitoring. These effects are stronger at rating downgrades and bond issuance. Results support the prediction of financial contracting theory that bondholders have strong incentives to reduce volatilities and wealth transfers.
10/21

Shrinking Against Sentiment: Exploiting Behavioral Biases in Portfolio Optimization

Alberto Martin-Utrera, NJIT

High sentiment predicts low market returns and high arbitrage returns. This empirical evidence has important implications for portfolio optimization. Exploiting the eigenvalue-decomposition of the mean-variance portfolio, I show that its performance is the sum of two components: a market component and an arbitrage component. Using a shrinkage covariance matrix that shrinks the sample covariance toward the identity in the construction of mean-variance portfolios gives more relevance to the market component, and its relevance increases with the degree of shrinkage. Shrinking more when sentiment is low and less when it is high generates substantial economic gains to mean-variance investors.
10/14

Critical Theory and Social Construction of Vulnerable 
Populations during COVID-19: The Case of Age

Hindy Schachter, NJIT

This presentation explores how critical theory might understand the role of social construction in public administrators' treatment of older Americans as a vulnerable population during the COVID 19 pandemic. The analysis compares differences in how federal and state communications reacted to information that increased age and male sex correlate with negative COVID 19 outcomes and relates these differences to hegemonic constructions of each group that impact a group member's chance of success in the business world.

10/07

Medical Staff Assignment and Patient Scheduling Optimization Model

Jen-Yi (Jay) Chen, Associate Professor, Monte Ahuja College of Business, Cleveland State University


Oya Tukel, Dean, Martin Tuchman School of Management, NJIT

This research proposes a mixed-integer programming model that helps assign staff members who each may concurrently serve multiple patients of different acuity levels.
09/16

Coopetitive alliances: Is there a "tipping point" between cooperation and competition? 

Mohammad Saleh Farazi, Universidad Carlos III de Madrid/Sharif University of Technology 

mfarazi@emp.uc3m.es

Paul Chiambaretto, Montpellier Business School/Ecole Polytechnique

Anne-Sophie Fernandez, University of Montpellier

Shanthi Gopalakrishnan, NJIT

This research focuses on alliances in high-technology sectors that are aimed at bringing about technological innovations. Past research has highlighted the simultaneity of cooperation and competition in such settings. Using a sample of 179 alliances in the biopharmaceutical industry, we explore the mechanism through which the degree of ex ante competition between two partners relates to the level of cooperation once they ally. We also explore the importance of time to ex post competition in this relationship. We find that the degree of ex-ante competition has an inverted U-shaped relationship with the degree of co-operation and this relationship is partially moderated by the time to ex-post competition. The inverted U-shape is indicative of a tipping point beyond which the risks override the benefits of co-operation.