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"[This book covers the main topics that students need to learn in a course on Industrial Organization.It reviews the classic models and important empirical evidence related to the field.However,it will differ from prior textbooks in two ways.First,this book incorporates contributions from behavioral economics and neuroeconomics, providing the reader with a richer understanding of consumer preferences and the motivation for many of the business practices we see today.The book discusses how firms exploit consumers who are prone to making mistakes and who suffer from cognitive dissonance, attention lapses,and bounded rationality,for example and will help explain why firms invest in persuasive advertising, offer 30-day free trials, offer money-back guarantees, and engage in other observed phenomena that cannot be explained by the traditional approaches to industrial organization. , This book covers the main topics that students need to learn in a course on Industrial Organization.It reviews the classic models and important empirical evidence related to the field.However,it will differ from prior textbooks in two ways.First,this book incorporates contributions from behavioral economics and neuroeconomics, providing the reader with a richer understanding of consumer preferences and the motivation for many of the business practices we see today.The book discusses how firms exploit consumers who are prone to making mistakes and who suffer from cognitive dissonance, attention lapses,and bounded rationality,for example and will help explain why firms invest in persuasive advertising, offer 30-day free trials, offer money-back guarantees, and engage in other observed phenomena that cannot be explained by the traditional approaches to industrial organization. ]"

"The managerial motivations in decision-making are evaluated in this research, whether they aim to maximize value or meet environmental and social pressures at the expense of value. Revisiting this matter, the study employs green bonds as a treatment and measures the change in firm value data using Tobin’s Q, controlling for times, individual and other company characteristics. Using the difference-in-differences (DD) method, this research documents the positive impact of issuing green bonds on a firm value. Our findings are consistent over the aggregate sample and most of the industry sub-sample, whereas negatives association are observed only in the industrials (industrial and commercial services, industrial goods, and transportation) industry sub-sample. These findings align with the stakeholder value maximization hypothesis. We find rather unpromising result of negative correlation between green bond issuance and a firm’s ESG scores, indicating the greenwashing arguments. Therefore, the managerial decision to issue green bonds, is in line with the stakeholder value maximization theory, that is to maximize the firm value.

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Penelitian ini menguji motivasi manager dalam pengambilan keputusan, apakah bertujuan untuk memaksimalkan nilai atau memenuhi tekanan lingkungan dan sosial dengan mengorbankan nilai. Untuk mengkaji kembali masalah ini, studi ini menggunakan kasus green bond dan data nilai perusahaan diukur dengan Tobin’s Q di kontrol oleh karakteristik perusahaan lainnya. Dengan menggunakan model difference in difference (DD), penelitian ini mendokumentasikan pengaruh positif dari penerbitan green bond terhadap nilai perusahaan, signifikan pada sampel keseluruhan industri, sedangkan pada sub sampel industry menunjukkan hasil yang berbeda. Hasil tersebut sesuai dengan hipotesis stakeholder value maximization. Kami menemukan hasil yang cukup tidak menjanjikan yaitu korelasi negatif antara penerbitan green bond dan skor E, S dan G perusahaan, mengindikasikan argument green washing. Oleh karena itu, keputusan manajerial untuk menerbitkan green bond sejalan dengan teori stakeholder value maximization, yaitu untuk memaksimalkan nilai perusahaan."