M.Sc. Mathematics and Statisticshttp://hdl.handle.net/10464/28832024-03-18T17:17:23Z2024-03-18T17:17:23ZCEO Overconfidence and the Probability of BankruptcyAmin, Ruhulhttp://hdl.handle.net/10464/156442022-10-07T16:45:35ZCEO Overconfidence and the Probability of Bankruptcy
Amin, Ruhul
This thesis examines the relation between CEO overconfidence and the probability of bankruptcy. In addition to the main research question, we develop two additional hypotheses. We evaluate the potential link or channel between CEO overconfidence and the probability of bankruptcy. In the relationship between CEO overconfidence and the probability of bankruptcy, we seek for any interaction effects of CEO dominance. It is not uncommon for CEOs to be overconfident about their firms' prospects. In our sample, we use data from the year 2000 to 2019 for US companies. We proxy the bankruptcy probability using Altman’s Z Score. We use a stock option-driven measure of overconfidence, and this measure assumes that non-overconfident CEO will exercise their stock options if it is in the money, while overconfident CEOs will hold stock options beyond a rational threshold. We construct both continuous and indicator-based measures of overconfidence to test the hypotheses. The empirical findings reveal that CEO overconfidence increases the probability of bankruptcy. We do not find any evidence in favor of overinvestment which we consider as a channel through which overconfidence leads to increased bankruptcy risk. We also find that dominant and overconfident CEOs are suited for innovative firms, implying that giving an overconfident CEO a dominant position can minimize a firm's probability of bankruptcy. The implications of this study are that firms should be cautious in hiring overconfident CEO and they should take measures to reduce the negative effects of CEO overconfidence like the probability of bankruptcy. One way to reduce the probability of bankruptcy in innovative firms is to appoint overconfident CEO into a dominant position.
Implications of Non-Operating Room Anesthesia Policy for Operating Room EfficiencyLiang, Yihanghttp://hdl.handle.net/10464/156072022-10-07T16:45:34ZImplications of Non-Operating Room Anesthesia Policy for Operating Room Efficiency
Liang, Yihang
This thesis focuses on examining the use of Non-Operating Room Anesthesia (NORA) policy in
Operating Room (OR) scheduling. A NORA policy involves a practice whereby the administration
of anesthesia stage is performed outside the OR. The goal of the thesis is to determine whether
NORA policy can improve OR efficiency measured by the performance of total costs, which
consists of a weighted sum of patient waiting time, OR overtime and idle time. A simulation
optimization method is adopted to find near-optimal schedules for elective surgeries in an
outpatient setting. The results of a traditional OR scheduling model, where all stages of the surgery
are performed in the OR, will be compared to the results of a NORA OR model where the initial
anesthesia stage is performed outside of the OR. Two cases are considered for the NORA model
given the decrease on mean durations: (1) a model with the same number of surgery appointments
and shorter session length and (2) a models with the same session length and more surgery
appointments. . The impact of a NORA policy on OR performance is further analyzed by
considering scenarios that capture Surgery duration variability and mean surgery durations which
are two traits for surgeries that have been shown to impact OR performance. This thesis aims to
investigate how a NORA policy performs when standard deviations and mean surgery durations
change. The results show that NORA policy can improve OR efficiency in all settings.
A Study on Immersion and Emotions’ Influence on Impulse Buying in Virtual EnvironmentsSelcuk, Cemhttp://hdl.handle.net/10464/155932022-10-07T16:45:32ZA Study on Immersion and Emotions’ Influence on Impulse Buying in Virtual Environments
Selcuk, Cem
Impulse buying has always been an interesting phenomenon that is observed in our daily lives. Statistics have shown that impulse purchases make up almost 40% of all purchases made online. Many studies have examined impulse buying, and they have found that emotions accompany impulsive behaviors naturally. With the recent development in virtual reality (VR) technology, this phenomenon is observable in online virtual environments. Retailers can create immersive virtual shops where the customer can walk among the aisles of a virtual store and make purchases. This study examines whether the effects of emotions on impulse buying vary across different immersion levels (2D vs. VR) and gender. To test our hypotheses, we collected data from the 2D and VR setting using experiments. The results provide evidence that gender plays a significant role in the three-way relationship between positive/negative emotions, immersion, and impulse buying. The unique setting of our research extends the literature on impulse buying, marketing, and virtual reality. The results offer valuable insights to marketers and retailers who want to develop virtual shops and influence impulse buying in these virtual shops.
Examining The Influence of Social Augmented Reality Apps on Customer Relationships: The Mediating Role of Shared Social ExperienceNguyen, Oanhhttp://hdl.handle.net/10464/155812022-10-07T16:45:29ZExamining The Influence of Social Augmented Reality Apps on Customer Relationships: The Mediating Role of Shared Social Experience
Nguyen, Oanh
The development of augmented reality (AR) has provided firms with increasing opportunities to improve customer experiences, especially in a shared context where customers are encouraged to communicate with others. This study investigates the effectiveness of social AR in building relationships among customers through a shared social experience, one which includes shared sense of place, social interaction, and social identity. Data was collected from 378 active users of a social AR application and was analyzed using the partial least squares structural equation modelling (PLS-SEM) and Hayes’ PROCESS Macro. Results from this study show that shared sense of place, social interaction, and social identity mediate the influence of social AR past usage on customer-to-customer relationships, which consequently enhance customers’ continuance intention to use the social AR application. Additionally, the results of the moderated mediation analysis reveal that the indirect effect of social AR past usage on continuance intention is positively moderated by extraversion, such that at higher level of extraversion the mediated relationship becomes stronger. These findings offer important contributions to the AR marketing literature and add valuable insights for practitioners to advance the use of AR technology.