38 results found
Wang W, Mahmood A, Sismeiro C, et al., 2019, The evolution of equity crowdfunding: Insights from co-investments of angels and the crowd, Research Policy, Vol: 48, ISSN: 0048-7333
Equity crowdfunding platforms are at the center of the digital transformation of early-stage venture funding. These digital platforms were originally heralded as a democratizing force in early stage finance, due to their role in facilitating the exchange between entrepreneurs and a multitude of non-professional small investors (“the crowd”). Equity crowdfunding platforms have experienced considerable growth and now attract professional investors including business angels. The presence of angels alongside the crowd on equity crowdfunding platforms has raised questions whether these digital platforms can continue to play their role in democratizing access to capital. Using data from a leading equity crowdfunding platform, we examine the interplay between the investment decisions of angels and the crowd. We find evidence of information flows in crowdfunding platforms between angels, and from angels to the crowd. We find angels play an important role in funding of large ventures, whereas the crowd not only fill the funding gaps for such large ventures but also play a pivotal role in the funding of small ones. The complementarity between angels and crowd investors seems to increase the overall efficiency in an otherwise highly asymmetric and uncertain market, confirming that digitization can indeed bring important benefits to venture investment.
Sismeiro CIR, Mahmood A, 2018, Competitive versus complementary effects in online social networks and news consumption: a natural experiment, Management Science, Vol: 64, Pages: 4967-5460, ISSN: 1526-5501
Using hourly traffic and readership data from a major news website, and taking advantage of a global Facebook outage, we study the relationship between social networks and online news consumption. More specifically, we test if online social networks compete with content providers or instead play a complementary role by promoting and attracting traffic to external websites. During the outage, consistent with a promotional effect, we observe a significant decrease in traffic and unique visitors to the news website lasting beyond the outage hours. We further find that direct referrals from Facebook links grossly underestimated the actual impact of Facebook in generating traffic. Instead, during the outage, we observe a more significant reduction in visitors arriving at the news website from search engines or directly typing the website URL or using bookmarks. Additionally, readership of articles and types of pages viewed also changed during the outage. Although we observe a drop in news consumption during the outage hours for all news categories, the subsequent news consumption differs across categories. Time sensitive categories like sports and local news see an increase in consumption, whereas news on women issues or health topics see a decrease. Analysis of individual-level visit and readership behavior during the outage also reveals that Facebook not only introduces selectivity bias by attracting shallower readers but also changes readership patterns (in the absence of Facebook, visitors engage in more in-depth reading). To test the generalizability of our results, we study the impact of the outage on referrals from other social media outlets, on other news sites, and on other content and e-commerce sites. We find similar effects on other news providers, whereas data from nonnews sites, including e-commerce, show no major outage effects. Overall, our results have important managerial implications. We highlight how our results unearth the importance of search engine
Sismeiro CIR, Mahmood A, 2017, Will they come and will they stay? Online Social Networks and news consumption on external websites, Journal of Interactive Marketing, Vol: 37, Pages: 117-132, ISSN: 1520-6653
This study explores the role of online engagement, homophily and social influence in explaining traffic and news consumption by social network users at an external news website. The authors jointly model visits and page views for a panel of users who registered with the news site using their Facebook accounts. In their model, the authors account for homophily using a latent space approach, and account for endogeneity, heterogeneity, and unobservable correlates. The results show that measures of an individual’s activity on Facebook are positively associated with that individual’s actions at the news site. In addition, knowing what a user’s Facebook friends do at the content website provides insights into a focal user’s behavior at that website, as visitors with friends who visit external news sites are more likely to visit the news website studied. In addition, news consumption (not just visits) also depends on friend’s actions but such an impact varies with the individual’s underlying browsing mode. We highlight the importance of social influence in news consumption and further show that homophily bias in news consumption is similar to prior research in other categories. Our study also highlights that visitors’ past browsing patterns are important predictors of future content consumption, although social network information significantly improves prediction beyond the effect of such more traditional behavioral metrics. Finally, we find that Managers can use readily available data for both prediction and targeting.
Sismeiro CIR, Mahmood A, Guo B, 2016, Choice overload or time stress: what determines purchase decisions for airline tickets?, 2016 Association for Consumer Research Conference, Publisher: Association for Consumer Research
Previous research has identified choice overload as a potential cause for purchase deferral. Researchers suggest that the decision difficulties and frustration consumers experience when processing significant amounts of information can lead to decision avoidance and have also found that, consistent with such explanation, that time constraints act as a moderator: approaching deadlines seems to amplify choice overload due to an increased cognitive burden. Identifying moderators of choice overload and discovering contexts in which choice overload occurs is a promising research direction and more importantly it is still unclear whether this phenomenon exists in real business contexts. With the present study, we address this gap and study the interaction between assortment size and time constraints in a purchase context dominated by uncertainty. We conducted two studies to investigate how number of options and time pressure influence purchase decisions. Past research in time effects vary in understanding of time pressure and focus on either real decision deadlines (physical time) or subjective feeling of pressure associated with time (sense of urgency or psychological time). We test both the moderating effect of physical time and psychological time and compare their impact.
Sismeiro C, Mizik N, Bucklin RE, 2012, Modeling coexisting business scenarios with time-series panel data: A dynamics-based segmentation approach, International Journal of Research in Marketing, Vol: 29
At a given point in time, individual consumers may be in different stages of the product adoption or consumption cycle. As a result, different types of behavioral patterns may coexist within a single product market. Existing segmentation approaches typically do not address long-term dynamics in customer response and do not adequately capture this phenomenon. We develop an approach for modeling the coexistence of multiple dynamic behavioral patterns (business scenarios) within a single product market. We apply this approach to physician panel data on drug prescriptions and direct-to-physician promotions. We find markedly different responses across physician segments. For firms that track customer-level marketing activity and sales over time, market segmentation based on dynamic scenarios can provide a new tool for efficient targeting. The proposed approach is straightforward to implement and is scalable to very large samples and continuous testing.
Lagana A, Russo F, Sismeiro C, et al., 2010, Variability in the Incidence of miRNAs and Genes in Fragile Sites and the Role of Repeats and CpG Islands in the Distribution of Genetic Material, PLOS ONE, Vol: 5, ISSN: 1932-6203
Battiato S, Farinella GM, Giuffrida G, et al., 2010, Exploiting visual and text features for direct marketing learning in time and space constrained domains, PATTERN ANALYSIS AND APPLICATIONS, Vol: 13, Pages: 143-157, ISSN: 1433-7541
Janakiraman R, Sismeiro C, Dutta S, 2009, Perception spillovers across competing brands: a disaggregate model of how and when, Journal of Marketing Research, Vol: 46, Pages: 467-481, ISSN: 1547-7193
Battiato S, Farinella GM, Giuffrida G, et al., 2009, Using visual and text features for direct marketing on multimedia messaging services domain, MULTIMEDIA TOOLS AND APPLICATIONS, Vol: 42, Pages: 5-30, ISSN: 1380-7501
Bucklin RE, Sismeiro C, 2009, Click Here for Internet Insight: Advances in Clickstream Data Analysis in Marketing, JOURNAL OF INTERACTIVE MARKETING, Vol: 23, Pages: 35-48, ISSN: 1094-9968
Gonzalez J, Sismeiro C, Dutta S, et al., 2008, Can branded drugs benefit from generic entry? The role of detailing and price in switching to non-bioequivalent molecules, INTERNATIONAL JOURNAL OF RESEARCH IN MARKETING, Vol: 25, Pages: 247-260, ISSN: 0167-8116
Janakiraman R, Shantanu D, Sismeiro C, et al., 2008, Physicians' Persistence and Its Implications for Their Response to Promotion of Prescription Drugs, Management Science, Vol: 54, Pages: 1080-1093
Motivated by the medical literature findings that physicians are inertial, we seek to understand (1) whether physicians exhibit structural persistence in drug choice (structural persistence occurs when the drug chosen for a patient depends structurally on the drug previously prescribed by the physician to other patients) and (2) whether persistence, if present, is a physician-specific characteristic or a physician state that can change over time. We further explore the role of promotional tools on persistence and drug choice, and we investigate whether physicians who exhibit persistence respond differently to three forms of sales promotion: one-to-one meetings (detailing), out-of-office meetings, and symposium meetings. Our results show significant levels of physician persistence in drug choice. We find that persistence is mostly a cross-sectional physician feature. Nonpersistent physicians appear to be responsive to detailing and symposium meetings, whereas persistent physicians seem to be responsive only to symposium meetings. Out-of-office meetings, such as golf or lunch, have no effect on physicians' drug choice. We also find that (1) older physicians and those who work in smaller practices are more likely to be persistent and (2) physicians who are more willing to receive sales force representatives have a lower likelihood of being persistent. Finally, we discuss implications for public policy from our rich set of results.
Battiato S, Farinella GM, Giuffrida G, et al., 2008, Combining visual and text features for learning in multimedia direct marketing domain, 1st International Workshop on Metadata Mining for Image Understanding, Publisher: INSTICC-INST SYST TECHNOLOGIES INFORMATION CONTROL & COMMUNICATION, Pages: 34-+
Gonzalez J, Sismeiro C, Dutta S, et al., 2007, Market Effects of Generic Entry: The Role of Physicians and of Non-Bioequivalent Competitors
Patent expiration represents a turning point for the brand losing patent protection as bioequivalent generic versions of the drug quickly enter the market at reduced prices. In this paper, we study how physician characteristics and their prescribing decisions impact the competition among molecules of a therapeutic class, once generic versions of one of these molecules enter the market. Specifically, we study the evolution of the Selective Serotonine Reuptake Inhibitors (SSRIs) after the introduction of generic versions of fluoxetine (brand name Prozac) in the United Kingdom (UK). Our results suggest that, to fully understand the market evolution after generic entry, public health officials need to consider the marketing activities of pharmaceutical companies and determine how (1) individual physicians prescribe all competing drugs, and (2) respond to drug prices and marketing actions. For example, we find that a group of physicians sensitive to detailing switch from fluoxetine to non-bioequivalent branded alternatives after patent expiration, as Prozac significantly reduces its marketing support. Consequently, the market share of fluoxetine decreases despite being available at significant price discount under generic form, and despite the increase of prescriptions by price-sensitive physicians. Hence, governments interested in assessing generics diffusion should consider the prescribing across all competitors, whether or not bioequivalent, and determine the size of physician segments sensitive to pharmaceutical marketing activity and prices.
Janakiraman R, Sismeiro C, Shantanu D, 2007, Perception Spillovers Across Competing Brands: A Disaggregate Model of How and When, Third Annual Conference of the Yale Center for Customer Insights
Rashid M, Abeysundra L, Mohd-Isa A, et al., 2007, Two years and 196 million pounds later: where is Choose and Book?, Informatics in Primary Care, Vol: 15, Pages: 111-119, ISSN: 1476-0320
BACKGROUND AND OBJECTIVES: Introduced in 2004, Choose and Book was one of the National Programme for Information Technology's vanguard initiatives. It was to transform the old booking system by combining, for the first time, electronic booking with patient choice of their first hospital appointment. However, doctors' use of the system has been reported as being persistently low. This study, carried out in London, endeavoured to explore doctor's views about the system and to see how far it has progressed. METHOD: A questionnaire was devised and administered via an email invitation, to doctors. It was sent to 1800 and completed by 105 hospital consultants and general practitioners. RESULTS: Most doctors thought that the concept of electronic booking itself was a good idea. The benefits that have been observed so far include an improvement in patient attendance at their appointments and the ability of doctors to track referrals. The biggest problems were described as an increased workload, technical problems and an uneven distribution of appointments between hospitals. In addition, most doctors thought that patient choice was a misguided concept in electronic booking and most reported that they were unsatisfied with Choose and Book overall. LIMITATIONS: The 6% response rate may make the results less likely to be representative of the whole survey population. The authors acknowledge this and have made recommendations as to how to more comprehensively test the objectives of this study, in future. CONCLUSION: In general, Choose and Book is still poorly perceived by doctors - particularly with respect to technical problems. There is still some support for the concept of electronic booking; however the patient choice element faces more resistance. Additional research is needed on this topic to further investigate the use of electronic systems in the health service.
Janakiraman R, Sismeiro C, Dutta S, 2006, A Structural Model of Informational Spillovers Across Competing Brands: Pioneering vs. Late Entrants, Marketing Science Conference
Gonzalez J, Sismeiro C, 2006, Measuring the Value of Location and Personnel Performance: The Case of Movie Theatres, Marketing Science Conference
Janakiraman R, Dutta S, Sismeiro C, et al., 2006, Are they all the same? Physicians’ Persistence and its Implications for Marketing Communication, European Marketing Academy Conference, Marketing Science Institute Special Session
Bradlow ET, Bronnenberg B, Russell GJ, et al., 2005, Spatial models in marketing, Marketing Letters, Vol: 16, Pages: 267-278, ISSN: 0923-0645
Janakiraman R, Dutta S, Sismeiro C, et al., 2005, Are they all the same? Physicians’ Persistence and its Implications for Marketing Communication, Marketing Science Conference
Gonzalez J, Sismeiro C, Dutta S, et al., 2005, Effects of Generic Drug Launch, Marketing Science Conference
Sismeiro C, Mizik N, Bucklin R, 2005, Segmenting the Long-Run Dynamics of Marketing Activity, Marketing Science Conference
Sismeiro C, Mizik N, 2005, Segmenting the Long-Run Dynamics of Marketing Activity, European Marketing Association Conference
Janakiraman R, Dutta S, Sismeiro C, et al., 2005, Are they all the same?: physicians' persistence and its implications for marketing communication, Tanaka Business School discussion papers, London, Publisher: Tanaka Business School, TBS/DP05/42
Sismeiro C, Bucklin RE, 2004, Modeling purchase behavior at an E-commerce web site: A task-completion approach, JOURNAL OF MARKETING RESEARCH, Vol: 41, Pages: 306-323, ISSN: 0022-2437
Bradlow E, Bronnenberg BJJAM, Russell GJ, et al., 2004, Spatial models in marketing.
Bucklin RE, Sismeiro C, 2003, A model of web site browsing behavior estimated on clickstream data, JOURNAL OF MARKETING RESEARCH, Vol: 40, Pages: 249-267, ISSN: 0022-2437
Sismeiro C, Bucklin R, 2003, Modeling Purchase Behavior at an E-Commerce Website: A Task Completion Approach, Marketing Science Conference
Sismeiro C, 2003, Modeling Microlevel Spatial Data: The Effects of Macrolevel Structure, Marketing Science Conference
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