Yang Yang

Dr. Yang Yang


Research Focus & Metrics

Academic Career Length

7Years (2020-Present)

(Calculated once Scilit publication data is synced: current year − year of first publication + 1)

Representative Publications

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14 May 2020 in Sustainability
Verified
Journal Article
Open access
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KZKaiming Zheng
Kaiming Zheng
XWXiaoyuan Wang
Xiaoyuan Wang
DNDebing Ni
Debing Ni
YYYang Yang
Yang Yang
Relation-specific investments are usually associated with great risk. Investors, afraid of being held up, are likely to invest too little, endangering both financial and organizational sustainability. Theory suggests that relation-specific investment decisions are mainly affected by potential ex-post bargaining, while experimental evidence shows social-preference-driven thinking affects both investors’ and investees’ behavior. We decompose an experimental hold-up game to identify the effect of reciprocity and the effect of veto power on investees’ transfers. In addition, we investigate the effects of corresponding information disclosures on investors’ performance as possible behavioral remedies to the hold-up problem. We find strong evidence of the effect of reciprocity and reciprocity-related information significantly lower investors’ suboptimal investment. Investors underestimate the effect of reciprocity without related information disclosure. In contrast, we find little evidence of the effect of ex-post veto power on investment decisions. Our results imply that reciprocity-related information disclosure is helpful in promoting both financial and organizational sustainability.

2 December 2023 in Journal of Economic Behavior & Organization
Verified
Journal Article
Closed access
DHDaniel Houser
Daniel Houser
YYYang Yang
Yang Yang