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THE PROLIFERATION OF THE INTERNET HAS ENABLED PLATFORM INTERMEDIARIES TO CREATE TWO-SIDED MARKETS IN MANY INDUSTRIES. IN SUCH MARKETS, NETWORK EFFECTS OFTEN OCCUR WHICH CAN DIFFER FOR NEW AND EXISTING CUSTOMERS. THE AUTHORS DEVELOP AN INFLUX-OUTFLOW MODEL TO INVESTIGATE THE CONDITIONS UNDER WHICH THE ESTIMATION OF SAME-SIDE AND CROSS-SIDE NETWORK EFFECTS SHOULD DISTINGUISH BETWEEN ITS IMPACT ON THE NUMBER OF NEW CUSTOMERS (I.E., ACQUISITION) AND EXISTING CUSTOMERS (I.E., THEIR ACTIVITY).
Economic value of data
(2020)
FIRMS COLLECT A LARGE AMOUNT OF DATA BY ENGAGING HEAVILY IN THE COLLECTION AND STORAGE OF ONLINE USER ACTIVITY VIA VARIOUS USER TRACKING TECHNOLOGIES. RECENT POLICY INITIATIVES AIM AT RESTRICTING THIS PRACTICE TO PROTECT CONSUMER PRIVACY. WE STUDY EMPIRICALLY THE CONSEQUENCES OF SUCH RESTRICTIONS FOR ONLINE PUBLISHERS, SUCH AS NEWS WEBSITES, BECAUSE THEY STRONGLY RELY ON REVENUES THAT ARE GENERATED BASED ON USER DATA. WE FIND A PRICE DECREASE OF CA. 30% FOR ONLINE ADS WHEN NO DATA FROM USER TRACKING IS AVAILABLE. THE POTENTIAL REVENUE LOSS COULD BE MORE THAN EUR 14 BILLION IN THE EU AND MORE THAN USD 27 BILLION IN THE US.
Prior studies indicate the protective role of Ultraviolet-B (UVB) radiation in human health, mediated by vitamin D synthesis. In this observational study, we empirically outline a negative association of UVB radiation as measured by ultraviolet index (UVI) with the number of COVID-19 deaths. We apply a fixed-effect log-linear regression model to a panel dataset of 152 countries over 108 days (n = 6524). We use the cumulative number of COVID-19 deaths and case-fatality rate (CFR) as the main dependent variables and isolate the UVI effect from potential confounding factors. After controlling for time-constant and time-varying factors, we find that a permanent unit increase in UVI is associated with a 1.2 percentage points decline in daily growth rates of cumulative COVID-19 deaths [p < 0.01] and a 1.0 percentage points decline in the CFR daily growth rate [p < 0.05]. These results represent a significant percentage reduction in terms of daily growth rates of cumulative COVID-19 deaths (− 12%) and CFR (− 38%). We find a significant negative association between UVI and COVID-19 deaths, indicating evidence of the protective role of UVB in mitigating COVID-19 deaths. If confirmed via clinical studies, then the possibility of mitigating COVID-19 deaths via sensible sunlight exposure or vitamin D intervention would be very attractive.
This research examines the impact of online display advertising and paid search advertising relative to offline advertising on firm performance and firm value. Using proprietary data on annualized advertising expenditures for 1651 firms spanning seven years, we document that both display advertising and paid search advertising exhibit positive effects on firm performance (measured by sales) and firm value (measured by Tobin's q). Paid search advertising has a more positive effect on sales than offline advertising, consistent with paid search being closest to the actual purchase decision and having enhanced targeting abilities. Display advertising exhibits a relatively more positive effect on Tobin's q than offline advertising, consistent with its long-term effects. The findings suggest heterogeneous economic benefits across different types of advertising, with direct implications for managers in analyzing advertising effectiveness and external stakeholders in assessing firm performance.
Digitale Technologien begünstigen den Einsatz einer dynamischen Preisgestaltung, also von Preisen, die für ein prinzipiell gleiches Produkt unangekündigt variieren. Dabei werden in der öffentlichen Diskussion unterschiedliche Ausgestaltungsformen dynamischer Preise oftmals vermischt, was eine sinnvolle Analyse der Vor- und Nachteile der dynamischen Preisgestaltung erschwert. Das Ziel des Beitrags ist die Darstellung der ökonomischen Grundlagen und die Diskussion sowie Klassifikation der Ausgestaltungsmöglichkeiten der dynamischen Preisgestaltung. Darüber hinaus erfolgt eine Bewertung der Vor- und Nachteile der dynamischen Preisgestaltung aus Käufer- und Verkäufersicht. Abschließend werden Implikationen für die betriebswirtschaftliche Forschung diskutiert.
This article uses information from two data sources, Compustat and Nexis Uni, and textual analysis to measure and validate the brand focus and customer focus of 109 U.S. listed retailers. The results from an analysis of their 853 earnings calls in 2010 and 2018 outline that on average, both foci increased over time. Although both foci vary substantially, brand focus varies more widely across retailers than their customer focus. Both foci are independent of each other. Specialty retailers have the highest brand focus, and internet & direct marketing retailers have the highest customer focus. A positive correlation exists between a retailer’s customer focus and its profitability, but not between a retailer’s brand focus and its profitability. The authors use the results to generate a research agenda that can direct future research in further systematically exploring firms’ brand and customer focus.
MANY PEOPLE CLAIM THAT FIRMS NEED TO EMBRACE DIGITAL TECHNOLOGIES. YET, WE KNOW LITTLE ABOUT DIGITAL EMBRACEMENT, ITS ANTECEDENTS, AND ECONOMIC CONSEQUENCES. THIS ARTICLE PROPOSES A TEXTUAL APPROACH TO MEASURE DIGITAL EMBRACEMENT AND APPLIES IT IN AN EMPIRICAL STUDY COVERING 2,278 PUBLICLY LISTED U.S. FIRMS OVER 17 YEARS. THE RESULTS OUTLINE A VAST HETEROGENEITY IN FIRMS’ DIGITAL EMBRACEMENT IN AND ACROSS INDUSTRIES. REMARKABLY, A HIGHER DIGITAL EMBRACEMENT PREDICTS HIGHER FINANCIAL PERFORMANCE.
Regulators worldwide have been implementing different privacy laws. They vary in their impact on the value for advertisers, publishers and users, but not much is known about these differences. This article focuses on three important privacy laws (i.e., General Data Protection Regulation [GDPR], California Consumer Privacy Act [CCPA] and Personal Information Protection Law [PIPL]) and compares their impact on the value for the three primary actors of the online advertising market, namely, advertisers, publishers and users. This article first compares these three privacy laws by developing a legal strictness score. It then uses the existing literature to derive the effects of the legal strictness of each privacy law on each actor’s value. Finally, it quantifies the three privacy laws’ impact on each actor’s value. The results show that GDPR and PIPL are similar and stricter than CCPA. Stricter privacy laws bring larger negative changes to the value for actors. As a result, both GDPR and PIPL decrease the actors’ value more substantially than CCPA. These value declines are the largest for publishers and are rather similar for users and advertisers. Scholars and practitioners can use our findings to explore ways to create value for multiple actors under various privacy laws.
Ad blockers allow users to browse websites without viewing ads. Online news publishers that rely on advertising income tend to perceive users’ adoption of ad blockers purely as a threat to revenue. Yet, this perception ignores the possibility that avoiding ads—which users presumably dislike—may affect users’ online news consumption behavior in positive ways. Using 3.1 million visits from 79,856 registered users on a news website, this research finds that ad blocker adoption has robust positive effects on the quantity and variety of articles users consume. Specifically, ad blocker adoption increases the number of articles that users read by 21.0%–43.2%, and it increases the number of content categories that users consume by 13.4%–29.1%. These effects are stronger for less-experienced users of the website. The increase in news consumption stems from increases in repeat visits to the news website, rather than in the number of page impressions per visit. These postadoption visits tend to start from direct navigation to the news website, rather than from referral sources. The authors discuss how news publishers could benefit from these findings, including exploring revenue models that consider users’ desire to avoid ads.
A common element of market structure analysis is the spatial representation of firms’ competitive positions on maps. Such maps typically capture static snapshots in time. Yet, competitive positions tend to change. Embedded in such changes are firms’ trajectories, that is, the series of changes in firms’ positions over time relative to all other firms in a market. Identifying these trajectories contributes to market structure analysis by providing a forward-looking perspective on competition, revealing firms’ (re)positioning strategies and indicating strategy effectiveness. To unlock these insights, we propose EvoMap, a novel dynamic mapping framework that identifies firms’ trajectories from high-frequency and potentially noisy data. We validate EvoMap via extensive simulations and apply it empirically to study the trajectories of more than 1,000 publicly listed firms over 20 years. We find substantial changes in several firms’ positioning strategies, including Apple, Walmart, and Capital One. Because EvoMap accommodates a wide range of mapping methods, analysts can easily apply it in other empirical settings and to data from various sources.