Giorgo Sertsios

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We analyze the interaction of firm product quality and pricing decisions with financial distress and bankruptcy in the airline industry. We consider an airline’s choices of quality and price as dynamic decisions that trade off current cash flows for future revenue. We examine how airline mishandled baggage, on-time performance and pricing are related to(More)
Phillips acknowledges financial support of the NSF through grant #0965328. Sertsios acknowledges the financial support of Fondecyt Proyecto Regular # 1160037. We thank Itay Goldstein (Editor) and two anonymous referees for very helpful comments. We are also indebted to Nicholas Crain, Erik Gilje, Kathleen Kahle, Yelena Larkin, P.T. Léger, Chen Lin, Evgeny(More)
We analyze the interaction of …rm product quality and pricing decisions with …nancial distress and bankruptcy in the airline industry. We consider an airline’s choice of quality and price as dynamic decisions that trade o¤ current cash ‡ows for future revenue. We examine how airline mishandled baggage, on-time performance and pricing are related to …nancial(More)
We exploit Medicare national coverage reimbursement approvals of medical devices as a quasi-natural experiment to investigate how private and publicly traded firm financing decisions and product introductions respond to exogenous changes in investment opportunities. We find that publicly traded companies increase their external financing, and their(More)
In a setting in which franchisees that operate under a common brand name have incentives to free-ride on each other’s sales e¤ort, we examine how a franchisor uses investment requirements as a tool to reduce franchisees’underprovision of sales e¤ort. Theoretically, we show that if the franchisor’s reputation is highly important the franchisor asks for(More)
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