Faculty Research

Tony Kong Wins Academy of Management’s Conflict Management Division “Most Influential Article Award (2015 to 2018)”

Anonymous — Wed, 01 Nov 2023 23:26:10 +0000

Tony Kong Wins Academy of Management’s Conflict Management Division “Most Influential Article Award (2015 to 2018)” Anonymous (not verified) Wed, 11/01/2023 - 17:26

This summer, Tony Kong, associate professor of Organizational Leadership at the Leeds School of Business, has been awarded the Academy of Management’s Conflict Management Division “Most Influential Article Award (2015 to 2018)” for his paper “Strategic Consequences of Emotional Misrepresentation in Negotiation: The Blowback Effect,” published in the Journal of Applied Psychology in 2016.

In the paper, Kong and his co-authors examine the strategic consequences of emotional misrepresentation in negotiation. The researchers argue that negotiators who misrepresent their emotions (e.g., by pretending to be angry when they are not) may achieve short-term gains, but they are likely to experience negative blowback effects in the long run.

Kong’s research has important implications for negotiators in a variety of settings. The research demonstrates that emotional (particularly, anger) misrepresentation can be a risky strategy, and that negotiators who are dishonest about their emotions are less likely to build trust and achieve long-term success. After all, negotiations should be dialogues depending on trust and collaborative problem-solving.

The Academy of Management’s Conflict Management Division “Most Influential Article Award” is given annually to the article that has had the greatest impact on the field of conflict management in a period of 4 years.

Congratulations to Associate Professor Tony Kong on this well-deserved award!

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How Workplace Mistreatment Hurts More Than Just the Victim

Anonymous — Tue, 22 Aug 2023 16:04:31 +0000

How Workplace Mistreatment Hurts More Than Just the Victim Anonymous (not verified) Tue, 08/22/2023 - 10:04

Some employee bystanders may brush it off while others are stuck wondering, ‘Am I next?’ according to new research from a CU Boulder business professor.

Plenty can go awry in a babyֱ��app, but one of the most damaging events that harms employee morale and perception is mistreatment. And it’s not just the person targeted in the mistreatment who suffers negative effects: Like secondhand smoke, colleagues and bystanders experience wrongdoing vicariously, which can elicit just as strong or even stronger reactions than personal experiences with mistreatment.

A recent study examined why negative behaviors like discrimination, ostracism, incivility and harassment continue to occur in babyֱ��apps and found a potentially overlooked reason, according to Sabrina Volpone, an associate professor of organizational leadership at the Leeds School of Business and co-author of the study, published online in June 2023 in the Journal of Applied Psychology.

The reason has to do with differing perceptions of babyֱ��app bystanders and how they see the event in relation to themselves.

“The differing perceptions come from the idea that many forms of babyֱ��app mistreatment are subjective, leaving coworkers asking what really happened, which version of the event should they believe, and would this person really do something like that, after the mistreatment occurs,” Volpone said.

The researchers found that when people witness mistreatment or hear about it, they process and react to it in different ways, depending on their gender and if their gender is the same as the person who was mistreated.

The study shows that female bystanders or bystanders who are the same gender as the person who was mistreated react with higher levels of “identity threat,” which occurs when people perceive one or more of their social identities are under attack. This identity threat reaction can be emotional or cognitive.

Women and those similar in gender to the victim of mistreatment tend to have more emotion-focused reactions, leading bystanders to come to different conclusions about the mistreatment.

Perceptions of mistreatment

“If you are similar to the victim, your emotional-focused reaction might look like, ‘Am I next?” Volpone said. “If you don’t have that similarity, it doesn’t register in the same way and you are more likely to process it cognitively. You don’t have the salience of the event affecting you in your own backyard. You might explain it away because it does not register as a threat in the same way.”

That cognitive-focused reaction can lead some bystanders to see the event as harmless or even fair, and this could be a reason mistreatment continues to be “startlingly prevalent in today’s babyֱ��apps,” according to the paper.

The lack of personally feeling threatened in a way that triggers emotion-focused processing may be why some bystanders perceive the overall organization to be rife with gendered mistreatment and unfairness after mistreatment occurs and why others do not make the same determination.

The research, led by Volpone and Emily M. David of China Europe International Business School, and co-authored by Derek R. Avery of the University of Houston’s Bauer College of Business; Lars U. Johnson of the University of Texas at Arlington’s College of Business; and Loring Crepeau of the Defense Equal Opportunity Management Institute, involved three studies, including one on more than 8,000 employees who were a part of some 550 work teams.

The researchers also theorize that men’s and women’s perceptions of mistreatment in the babyֱ��app can impact whether they feel the company or organization as a whole is unjust.

“If I saw or heard a female reporting mistreatment or recounting it to a colleague, I all of a sudden find that very salient,” Volpone said. “If this continues and is acceptable in the babyֱ��app, it’s harder to explain the mistreatment away as a one-off occurrence, and I begin to think negatively about the climate of the overall organization. Those thoughts capture how people who are similar to the victim of the mistreatment process the mistreatment.”

The study isolated gender effects, but Volpone said the researchers are confident that the phenomenon would extend to race as well. They believe mistreatment would elicit the same kind of threat response in other disadvantaged groups in the babyֱ��app.

A takeaway for managers is to be aware of this gender similarity bias.

“If you’re an individual manager and someone makes you aware of events that could be considered mistreatment, understand that your similarity to that person could affect your decision-making and could affect how you take action and whether you take action,” Volpone said.

Instead of dismissing babyֱ��app mistreatment as a one-off event, companies can benefit from providing more organizational support.

“Mistreatment needs to be taken care of and addressed as soon as possible,” Volpone said. “If and how a manager responds sends important signals. It has a big spillover effect that can affect how employees think of the entire babyֱ��app, not just the coworker who was the perpetrator of the mistreatment.”

Some employee bystanders may brush it off while others are stuck wondering, ‘Am I next?’ according to new research from a CU Boulder business professor.

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Is Being Warm the Key to Getting Your Next Job?

Anonymous — Wed, 31 May 2023 15:23:10 +0000

Is Being Warm the Key to Getting Your Next Job? Anonymous (not verified) Wed, 05/31/2023 - 09:23

Maybe. It has to do with how much (or how little) you align with gender stereotypes in an interview.

Rebecca L. Mitchell, PhD, assistant professor of organizational behavior at the Leeds School of Business

Most job candidates want an interviewer to perceive them as collaborative, creative, hardworking and professional. Very few think about how warm they come across.

But evidently, it matters. A researcher at the Leeds School of Business explored the effects of warmth and gender on how collaborative a person seems, and whether it results in positive or negative outcomes in hiring.

“Gender bias in hiring remains a persistent problem. A common recommendation for women has been to temper their competence with warmth to prevent agentic penalties in interviews,” said Rebecca L. Mitchell, PhD, an assistant professor of organizational behavior, whose study was recently published in Human Resource Management.

Surprisingly, she found that “modifying a woman's warmth may not be a reliable tactic for minimizing gender bias.”

She first began thinking about gender stereotypes in hiring when she read an article in the Huffington Post about a controversial women’s leadership development training, which counseled women to go along with the gender stereotype that women should tamp down their agency and increase their warmth. Women in the article were disillusioned with the “fix the woman” approach; it made her think about whether bias emerges from the way a woman acts or the way a man acts, or perhaps a combination of both.

When she began her study, “Backlashes or boosts? The role of warmth and gender in relational uncertainty reductions,” she expected to see backlashes for women who displayed gender-incongruent (i.e., low) levels of warmth but found that when it came to hiring, a woman’s degree of warmth, whether high or low, had no bearing on the hiring decision. Men, however, stood to gain positive career advantages as a result of their gender-incongruent behavior.

“We found that men who displayed high levels of warmth reduced relational uncertainty, since high warmth is related to helping tendencies—the opposite of what typical male stereotypes might suggest,” she said.

For managers, this means that counseling women to convey more warmth to combat agentic stereotypes, a common recommendation endorsed by researchers and practitioners alike, may not work in a hiring context. Managers should also be aware of both the female disadvantages that gender biases produce as well as the male advantages that might mean hiring the wrong candidate.

As a result of her study, Mitchell proposes that organizations use strict standardized selection processes, highly structured interviews, use joint interview evaluations, and hold interviewers accountable for hiring decisions in order to combat bias.

Why Leeds Rebecca Mitchell

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When Trust Goes Bust: New Research Offers Lessons on Culture, Crisis and Employee Performance

Anonymous — Tue, 06 Sep 2022 16:47:53 +0000

When Trust Goes Bust: New Research Offers Lessons on Culture, Crisis and Employee Performance Anonymous (not verified) Tue, 09/06/2022 - 10:47

Professor earns Best Paper Award for insights on trust trajectory as a predictor of successes amid stresses. 

Tony Kong joined Leeds in August from the University of South Florida, where he was director of its Bishop Center for Ethical Leadership. His research looks at leadership issues such as trust, ethics, negotiation and conflict resolution—especially the areas of where those disciplines overlap.

New research by one of Leeds’ newest professors could play a major role in helping companies respond to the myriad challenges facing today’s babyֱ��apps.

Get to know Dejun “Tony” Kong

Professor Kong joined Leeds in the fall. Here are some things you might not know about him.
- As a youngster, Kong trained as a singer, performing in theaters and on TV in Shanghai, Beijing and overseas: “I am very grateful for my singing experience, which let me see different cultures early on in my life—but I’m glad I found my calling in academia.”
- A Time Warner internship sent Kong to Fortune, where he learned how to interview influencers and executives. That experience was an introduction to better understanding academic research and finding his career path—the turning point of his life.
- Among his many accolades, Kong was named to Poets&Quants’ 40 Under 40 list of business professors in 2019.

Dejun “Tony” Kong is studying how so-called “trust trajectory”—the trend of trust development, which fluctuates based on repeated interactions and encounters—can predict a company’s performance during times of great stress, such as pandemic, babyֱ��app crisis or political upheaval.

“Ten or 20 years ago, the environment was not this dynamic,” said Kong, who joined Leeds this fall from the University of South Florida. “Now, you have crises such as pandemic, globalization and challenging international relations. Many people don’t trust the government or science. We need new perspectives on trust to better understand how to move forward together.”

Throughout his career in academia, Kong has found novel approaches to trust by looking at how it’s related to other fields of management, such as negotiation and conflict resolution. In August, he earned a Best Paper Award from the Academy of Management for a conference paper looking at trust at a U.S. company that was undergoing significant structural changes.

Value of being proactive at work

Employees who were proactive and strategic were more capable of coping with such stresses, and managed to foster positive environments. But by and large, “people became very distrusting, understandably—they’re in a stressful environment and they’re worried about losing their jobs,” Kong said. “But surprisingly, their performance has less to do with the overall level of trust, and more with the trend, which is what drives their behavior. If it’s going down over time, that does a lot of damage to behavior and thinking.”

This novel approach to the dynamics of trust—and the implications, amid ongoing uncertainty at work—has the potential to change how researchers approach the topic, and how leaders improve culture. It won’t be the first time, as Kong has enjoyed a decorated career in seeking research insights in places where topics in leadership overlap, and embracing perspectives from outside of business schools. That’s helped him get published in some of the top peer-reviewed journals in business, receive many awards, and have editorial appointments and opportunities to sit on influential committees with other experts in leadership.

“One thing I’m appreciative of is that my doctoral experience was very interdisciplinary,” Kong said. “Washington University in St. Louis is a small campus—the babyֱ��app department is right next to the business school, the psychology department is next door, political science and anthropology are right nearby. My mentors encouraged me to learn from different disciplines, since so much business research builds on what’s done in the social sciences. That gives me a holistic perspectives on many issues.”

“We have to get better at learning to integrate different backgrounds and perspectives into new ideas.”

Tony Kong, associate professor

In fact, that was true of one of his earliest publications, which appeared in the Academy of Management Journal. Kong remembers it well, because it was accepted to the top-tier publication after just a single round of revision, and received recognition for its strong impact.

MORE: Meet Leeds' new babyֱ��app for 2022

“My mentor told me, ‘Don’t expect every submission to go that quickly’—and he was right,” Kong said with a laugh. “That paper really bridged my two research streams of trust and negotiation—which sounded very intuitive to me as a doctoral student, but the research up until then was pretty siloed.”

Another of Kong’s interests is diversity, equity and inclusion, which has become a much hotter topic in business and business schools. His DEI research and activities, together with his strong expertise in trust and leadership research, gave him a high profile as babyֱ��app director of USF’s Bishop Center for Ethical Leadership.

Seeking insights on DEI

At Bishop, he helped encourage research and thought leadership around trust, DEI and ethics. Again, rather than just consider the business case, he invited experts in humanities, social sciences, engineering and medicine to engage in leadership research, providing grants on issues like how to encourage more women to be successful leaders in every domain.

“Many of these disciplines are not closely related to business research in traditional views, but scholars in these disciplines are interested in these topics, so we encouraged them to bring new ideas,” he said.

And, ultimately, it’s work that helped him choose Leeds when deciding he was ready to move on from Florida.

“The CU Boulder mission talks a lot about DEI, which was really exciting to me,” Kong said. “It’s a part of human experience, as opposed to just a business topic. We have to get better at learning to integrate different backgrounds and perspectives into new ideas. And that requires negotiation and conflict resolution as well as trust building and repair, which leads right back to my research.”

Why Leeds Faculty and Research Centers of Excellence

One of Leeds' newest professors was recognized this summer with a Best Paper Award from the Academy of Management for his work on trust trajectories.

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Gender disparities in engineering are a problem, CU Boulder researchers offer a solution

Anonymous — Mon, 26 Jul 2021 19:50:09 +0000

Gender disparities in engineering are a problem, CU Boulder researchers offer a solution Anonymous (not verified) Mon, 07/26/2021 - 13:50 Tony Tong

A new paper published by University of babyֱ��app researchers found that female engineers are more likely to ask questions to gain information, and they’re likely to ask those questions of other women.

While not surprising, the findings reflect a disadvantage for women when it comes to professional growth in the male-dominated field of engineering.

The paper—published in the Journal of Management in Engineering (JME) and co-authored by Professor Amy Javernick-Will, of construction engineering, and Tony Tong, of the Leeds School of Business—dissected what role gender plays in knowledge accessibility amongst engineers.

Read the Research Brief on The Conversation: For engineers, asking for help at work is influenced by gender

Read the full story on CU Boulder Today

Winner of the 2021 Best Paper of the Year Award

Published in Journal of Management in Engineering

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Making Better Use of Big Data in Marketing

Anonymous — Thu, 06 May 2021 06:02:59 +0000

Making Better Use of Big Data in Marketing Anonymous (not verified) Thu, 05/06/2021 - 00:02

Leeds professor earns Kahle award for algorithm aimed at improved targeting.

A paper aimed at helping businesses better target consumers through personalized advertising of curated products is this year’s winner of the Kahle Family Research Award at Leeds.

Rico Bumbaca, an assistant professor of marketing at Leeds, is the winner of this distinguished honor, presented to one exceptional babyֱ��app research paper published in an elite journal.

“I’m still very new to Leeds, I’m only an assistant professor,” said Prof. Bumbaca, who earned his PhD from the University of California Irvine. “I don’t consider myself to be in the same league as my colleagues, who are brilliant and much more seasoned. I am stunned and humbled by this honor.”

He may be new, but Prof. Bumbaca’s work merits distinction for its potential applications in industry. Alongside researchers from the University of Chicago’s Booth School of Business and the Anderson School of Management at UCLA, he developed an algorithm that quickly scales large data sets to generate highly accurate projections of customers’ wants and desires.

This is a crucial unmet need, as for all the data potential customers are generating, many marketing departments remain unsophisticated when it comes to identifying the right message for the right customer.

Bumbaca and his team describe how this method works in their new paper, “Scalable Target Marketing: Distributed Markov Chain Monte Carlo for Bayesian Hierarchical Models,” which was published in the Journal of Marketing Research in October.

“The method takes advantage of supercomputers by breaking up the data into smaller chunks, processing each chunk in parallel and combining the results to provide very precise estimates of a consumer’s preferences,” Prof. Bumbaca said.

This information about consumers’ preferences can then be used by firms to more accurately target their messaging and increase the likelihood of consumers’ responses to their advertising.

“The key takeaway is that firms can now provide a win-win for their target customers,”

says Bumbaca.

“Customers win by having fewer annoying messages they need to process from firms, and the messages they do receive are spot-on in terms of meeting their needs,” he said. “Firms win by increasing the efficiency of their marketing efforts at a reduced cost, earning larger returns on their smaller marketing budgets.”

The team applied the method for a charitable organization that wants to more efficiently target potential donors. Using their algorithm, they predicted an increase in $1.6 million to $4.2 million in incremental donations per campaign, more than the amount of donations using a traditional statistical method.

Prof. Bumbaca is already working on other areas related to this research stream. He’s currently investigating a method to calculate the distribution of unique preferences related to a product or service. This is different from target marketing, when you want to know how a particular customer will react to a particular message or product, based on the data she’s generated.

“When you’re looking at a new product line, it’s easy to come up with the two or three biggest segments of your market,” he said. “But with a larger sample size, you may see two or three niche areas you didn’t consider,” opening up potential new markets or applications for a product manager.

Read the abstract and full paper here.

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How Digital Platforms Can Orchestrate Innovation and Entrepreneurship Through Access Control

Anonymous — Sat, 01 May 2021 02:39:09 +0000

How Digital Platforms Can Orchestrate Innovation and Entrepreneurship Through Access Control Anonymous (not verified) Fri, 04/30/2021 - 20:39

Tony Tong

Entrepreneurs and startups are increasingly turning to digital platforms nowadays, whether it is about creating a new platform (think Snapchat or TikTok), or providing product offerings and soliciting ideas on an existing platform. Consider Kickstarter’s platform that features listings of thousands of entrepreneurial projects to connect with the millions of registered backers online, or Apple’s App Store hosting millions of mobile apps published by developers and billions of users of iOS devices. Indeed, digital platforms are now being seen as “semi-regulated” marketplaces that foster innovation and entrepreneurship under the coordination of the platform owner (Kickstarter, Apple). Yet, such coordination is surely easier said than done. Platform owners do not own these product offerings (entrepreneurial projects, apps) or have direct control over their business partners (entrepreneurs, app developers).

So what can a platform owner do to orchestrate the value creation activities of autonomous business partners (in thousands and millions) that are critical to the vibrancy and success of a platform?

This question was the focus of a research paper coauthored by Leeds School’s Strategy & Entrepreneurship professor Tony Tong, in collaboration with two PhD alumni, Yuchen Zhang (currently assistant professor at Tulane University) and Jingjing Li (currently assistant professor at the University of Virginia), recently published in the Strategic Management Journal and previously presented at the National Bureau of Economic Research. The researchers argue that platform owners can use what they call “access control” to shape business partners’ activities.

Specifically, they looked at how such access control in the form of “jailbreaking” shapes app developers’ activities. Apple’s iOS is well-known for adopting a strict gatekeeping policy that controls for what (apps) or who (app develops) have access to the platform. The jailbreak of the iOS is a hacking that exploits loopholes to remove Apple’s built-in restrictions, allowing users to install apps not officially approved by Apple’s App Store. After jailbreaking, many apps that were previously denied by Apple’s App Store can gain access to a sizable number of users of jailbroken iOS devices, exerting a competitive pressure to iOS developers who develop “legit” apps and profit from app sales.

The researchers leveraged the unexpected timing of the jailbreak of iOS 7 in December 2013 to conduct a “natural experiment”. They compared the knowledge sharing activity of iOS app developers (which they consider the treatment group) and the activity of otherwise comparable Android app developers unaffected by the jailbreak (the control group), on StackOverflow.com, an active online forum of software developers. They found that with the jailbreaking, the resulting deficiency in iOS’s gatekeeping—the weakened platform access control—reduced the amount, as well as the quality, of the information shared by iOS app developers. The findings suggest that increased competitive threat—due to the “unauthorized” entry of copycat products into the platform—dampens app developers’ incentives to share knowledge.

In other words, stronger access control, at least in the case of Apple’s iOS, appears beneficial to platform owners, because it facilitates vibrant knowledge sharing among app developers, which should enhance their innovation and product development.

On a broad level, this study highlights that opening platform access too widely to ecosystem partners offering substitutive products can significantly shift the dynamics among them toward a more competitive stance. Such dynamics ultimately shape the success of the platform, and thus are worth paying close attention to, for entrepreneurs and innovators aiming to create a new platform or release their product offerings on an existing platform.

The takeaway?

While openness was often touted as being critical to orchestrating innovation, too much openness—especially to partners with highly similar products or services—may in fact dampen innovation and entrepreneurial activities.

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Closing the Gap: A Learning Algorithm for Lost-Sales Inventory Systems with Lead Times

Anonymous — Tue, 27 Apr 2021 14:37:12 +0000

Closing the Gap: A Learning Algorithm for Lost-Sales Inventory Systems with Lead Times Anonymous (not verified) Tue, 04/27/2021 - 08:37

We consider a periodic-review, single-product inventory system with lost sales and positive lead times under censored demand. In contrast to the classical inventory literature, we assume the firm does not know the demand distribution a priori and makes an adaptive inventory-ordering decision in each period based only on the past sales (censored demand) data. The standard performance measure is regret, which is the cost difference between a learning algorithm and the clairvoyant (full-information) benchmark. When the benchmark is chosen to be the (full-information) optimal base-stock policy, Huh et al. [Huh WT, Janakiraman G, Muckstadt JA, Rusmevichientong P (2009a) An adaptive algorithm for finding the optimal base-stock policy in lost sales inventory systems with censored demand. Math. Oper. Res. 34(2):397–416.] developed a nonparametric learning algorithm with a cubic-root convergence rate on regret. An important open question is whether there exists a nonparametric learning algorithm whose regret rate matches the theoretical lower bound of any learning algorithms. In this work, we provide an affirmative answer to this question. More precisely, we propose a new nonparametric algorithm termed the simulated cycle-update policy and establish a square-root convergence rate on regret, which is proven to be the lower bound of any learning algorithm. Our algorithm uses a random cycle-updating rule based on an auxiliary simulated system running in parallel and also involves two new concepts, namely the withheld on-hand inventory and the double-phase cycle gradient estimation. The techniques developed are effective for learning a stochastic system with complex system dynamics and lasting impact of decisions.

Zhang, H., Chao, X., & Shi, C. (2020). Closing the gap: A learning algorithm for lost-sales inventory systems with lead times. Management Science, 66(5), 1962-1980. https://doi.org/10.1287/mnsc.2019.3288

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How Do Foreclosures Exacerbate Housing Downturns?

Anonymous — Tue, 27 Apr 2021 14:31:33 +0000

How Do Foreclosures Exacerbate Housing Downturns? Anonymous (not verified) Tue, 04/27/2021 - 08:31

This article uses a structural model to show that foreclosures played a crucial role in exacerbating the recent housing bust and to analyse foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the market for non-foreclosures and reduce price and sales volume by eroding lender equity, destroying the credit of potential buyers, and making buyers more selective. These effects cause price-default spirals that amplify an initial shock and help the model fit both national and cross-sectional moments better than a model without foreclosure. When calibrated to the recent bust, the model reveals that the amplification generated by foreclosures is significant: ruined credit and choosey buyers account for 25.4% of the total decline in non-distressed prices and lender losses account for an additional 22.6%. For policy, we find that principal reduction is less cost-effective than lender equity injections or introducing a single seller that holds foreclosures off the market until demand rebounds. We also show that policies that slow down the pace of foreclosures can be counterproductive.

Guren, A. M., & McQuade, T. J. (2020). How do foreclosures exacerbate housing downturns? The Review of Economic Studies, 87(3), 1331-1364. https://doi.org/10.1093/restud/rdaa001

Guren, A. M., & McQuade, T. J. (2020). How do foreclosures exacerbate housing downturns? The Review of Economic Studies, 87(3), 1331-1364. https://doi.org/10.1093/restud/rdaa001

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Implications of Non-GAAP earnings for real activities and accounting choices

Anonymous — Tue, 27 Apr 2021 14:28:29 +0000

Implications of Non-GAAP earnings for real activities and accounting choices Anonymous (not verified) Tue, 04/27/2021 - 08:28

Managers almost always define non-GAAP earnings to exclude the effects of acquisition and restructuring expenses, the amortization of intangibles, and impairments. I find that managers with a history of reporting non-GAAP earnings act as if they place lower weight on these excluded expenses when making real activities and accounting choices. They pursue more and larger acquisitions, have higher total capital investment, are more likely to restructure, and are more likely to recognize discretionary impairments. In a difference-in-differences setting, I find that non-GAAP reporting firms are less likely to alter their restructuring activities following a significant change in accounting rules for restructuring expense recognition. Finally, in supplementary analyses, I find that non-GAAP-reporting firms tend to repeat these real activities and accounting choices year-after-year, resulting in more persistent special-item expenses.

Laurion, H. (2020). Implications of non-GAAP earnings for real activities and accounting choices. Journal of Accounting & Economics, 70(1), 101333. https://doi.org/10.1016/j.jacceco.2020.101333

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