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ItemControlling my boundaries: Explaining how and when workplace privacy promotes creative performance(Georgia Institute of Technology, 2017-08-02) Keem, Se JinOrganizational research has rarely examined the role that privacy plays in the workplace, lacking a clear conceptualization of privacy. The current research defines privacy as a perception of having control over one’s social interactions and develops a model that examines how privacy at work relates to creative performance. Taking a self-determination theory lens as the guiding theoretical framework, the current theoretical model argues that privacy leads to higher levels of creative performance through psychological empowerment because privacy enables employees to meet the need for autonomy, competence, and relatedness. The current model also theorizes that introversion and employee bonding moderate the relationship between privacy and psychological empowerment to predict creative performance. Data from a three-wave, multisource field study of 214 employees from 35 work units in multinational high-technology organization indicated that psychological empowerment mediates the relationship between privacy and creative performance. In addition, results indicated that introversion strengthens the relationship between privacy and psychological empowerment and that psychological empowerment mediates the moderated relationship between privacy and introversion. However, the results did not support the moderating role of employee bonding on this relationship. Overall, the results show that employees gain motivational benefits from having privacy at work and that privacy has important implications for creative performance.
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ItemThree essays on analyst research and investment(Georgia Institute of Technology, 2017-08-02) Liu, ChangThis thesis investigates the behavior of investors and analysts participating in the financial market. In the first essay, we examine the effects of local stock returns on antidepressant usage using the Truven Health MarketScan® individual prescription drug data. There are three main findings. First, a one standard deviation decrease in local stock return increases local investors’ antidepressant usage by approximately 0.42 percent (an economic cost of approximately 19 million dollars) in the subsequent weeks than what would have been in the absence of the decrease in stock return; in contrast, a stock price increase has no impact on antidepressant usage. Second, the effect of stock returns on antidepressant usage depends on an array of local socioeconomic characteristics including demographic structure, religiosity, political affiliation, political ideology, and personality traits. Third, local stock return fluctuations have significant effects on certain illnesses including insomnia, peptic ulcers, abdominal pains, and substance abuse which often result from depression. The results are consistent across a variety of robustness checks. In the second essay, we examine the behavior of analysts. In July 2009, the Global Research Settlement (GRS), which was implemented to mitigate the conflicts of interests between analysts and investors, expired. The GRS mandated that sanctioned banks contract with Independent Research Firms (IRFs) to make independent research available to the banks’ customers. We find that after the GRS expiration, the probability that analysts employed at sanctioned banks to issue positive recommendations increased by 3.3 percent compared to a control group. Our findings show that, after the GRS expiration, sanctioned banks might have become more optimistic and conflicts of interests seem to again threatened the credibility of the research by sanctioned banks. Our paper calls into question the SEC's decision not codify to the GRS into permanent rules. In the third essay, we examine the performance of analysts from Independent Research Firms (IRFs) and investment banks that cover firms in the financial sector. In particular, we evaluate six aspects of analyst performance: recommendation optimism, recommendation informativeness, earnings forecast optimism, earnings forecast accuracy, target price forecast optimism, and target price forecast accuracy. Using a sample of analyst recommendations and forecasts from 1994 to 2013, we document two important findings. First, compared to investment bank analysts, IRF analysts generally provide less biased, more informative, and more accurate recommendations and forecasts when covering firms in the financial sector. The only exception is the market reaction to pessimistic recommendations. The pessimistic recommendations issued by investment banks outperform those by IRFs. Second, conflicts of interests appear to play a significant role when investment bank analysts cover other bulge bracket investment banks. These results suggest that compared to their counterparts from IRFs, investment bank analysts are susceptible to institutional pressure related to underwriting business when covering firms in the financial sector.
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ItemPredicting digital currency market with social data: Implications of network structure and incentive hierarchy(Georgia Institute of Technology, 2017-07-27) Xie, PengFollowing the recent discovery of social media’s predictive power for the financial markets, we try to advance the literature by finding ways to distinguish between value-relevant information and noises by investigating the implication of social media network structures and its incentive hierarchy system. In the first chapter, we use data from the Bitcoin market and empirically show that highly-connected social media discussion networks are less accurate in predicting future returns due to information free riding and highly correlated information. However, social media information linkages nevertheless serve as landmarks for identifying informed social media actors: value-relevant information is more likely to be shared by users who stimulate active discussions among their peers. In the second chapter, we examine how social media incentive hierarchy systems shape users’ posting motivation and thus influence the information quality. We find that on average, the active social media users holding higher badges provide less accurate prediction compared to inactive users with lower badges. The reduced motivations after obtaining the higher level badges and the more frequent use of social media for socialization purposes imply a higher proportion of noises in their posts.
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ItemEssays on environmentally responsible operations(Georgia Institute of Technology, 2017-07-24) Fu, WayneThis thesis consists of three essays. The study in the first essay empirically examines the effect of hazardous substance rankings on reductions in emissions. Drawing data from the biennial Substance Priority List from the US Agency for Toxic Substances and Disease Registry and the Toxics Release Inventory from the US EPA and employing a panel model with fixed effects to control for various factors, the study finds that public information dissemination on the relative hazards of chemicals is effective, as indicated by the significant associations between increases in the relative assessed hazard levels of chemicals and greater subsequent emissions reductions, as well as the greater use of source reduction. As for the implications of operational leanness, the study finds that it may limit the ability of facilities to reduce emissions in response to in-creases in relative assessed hazard level. The study in the second essay analytically examines a durable-goods producer’s warranty-length decision in the presence of a secondary market. The study constructed a durable-goods model that captures the value-added by offering longer warranties in the context of a product with finite reliability and the implications of the presence of a secondary market. The model also incorporates the producer’s economic incentive to interfere with the secondary market through a buy-back program. The analytical results indicate that with respect to the reliability of used products, the benefit of offering longer warranties is non-monotonic in the presence of secondary markets. Also, secondary market interference significantly influences producers' warranty-length decisions. That is, in addition to the conventional wisdom that producers benefit from longer warranties when product reliability is a concern, producers engaging in secondary market interference may find that offering longer warranties is more profitable when used products are sufficiently reliable. The study in the third essay empirically tests predicted relationships from the previous essay. Linking secondary data from various sources regarding the US automobile market and applying the exploratory factor analysis and the panel data analysis, the study finds support for a U-shaped relationship between automobile producers' warranty lengths and their used-vehicle reliability. Specifically, automobile producers offer longer non-power-train warranties when the reliability of used vehicles is near an extreme, either low or high. In addition, producers' buy-back activities decrease with the reliability of used vehicles, and that the trade volume in the secondary market increases with the used-vehicle reliability.
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ItemEssays on diversity and new venture performance(Georgia Institute of Technology, 2017-06-02) Jaiswal, MayankI analyze how various aspects of diversity impact new venture performance. In the first study, I find that credit riskiness and assets of a venture mediate the gap in performance, revenues and profits between Black and White owned ventures. In my second study, I examine diversity in same industry work experience and education. I find that same industry work experience diversity has no impact on venture survival but level of educational diversity has a non-monotonic effect on survival. Finally, in the third study, I find that use of adequate controls leads to no gap in performance between male versus female-owned ventures. However, certain owner characteristics such as same industry work experience and number of hours worked and venture level characteristics such as technology level and incorporation status lead to significant gaps in survival, revenues and profits between male and female-owned ventures. I utilize the confidential Kauffman Firm Survey, an extensive dataset of new ventures started in 2004 in the US and tracked till 2011, to conduct the analyses. I discuss implications of my findings for research, investors and entrepreneurs.
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ItemNeil Asks Program(Georgia Institute of Technology, 2017-04-12) Brock, John ; Gellerstedt, Larry ; Moddelmog, HalaNeil Asks is a special IMPACT lecture that extends the legacy of L. Neil Williams Jr., an Atlanta-based leader in the fields of law, education and the arts. The program seeks to honor his example of asking important questions, listening to disparate views, and inspiring others to ask the questions that would guide us toward greater understanding, innovation, service, and hope.
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ItemOn Economics, Justice, and Leadership in a Troubled World(Georgia Institute of Technology, 2017-03-29) Braverman, Avishay
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ItemProfessor in the Zoo: Designing the Future for Wildlife in Human Care(Georgia Institute of Technology, 2017-03-08) Maple, Terry
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ItemThe Empathetic Entrepreneur(Georgia Institute of Technology, 2017-03-01) Paris, Chad
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ItemMark Rountree: Georgia Tech Deputy Athletic Director(Georgia Institute of Technology, 2017-02-22) Rountree, Mark