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Articles 1 - 14 of 14
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The Persuasive Effect Of Ai-Synthesized Voices, Hannah H. Chang, Anirban Mukherjee
The Persuasive Effect Of Ai-Synthesized Voices, Hannah H. Chang, Anirban Mukherjee
Research Collection Lee Kong Chian School Of Business
Artificial intelligence (AI) technology seeks to emulate humans. One aspect is AI-synthesized voices, used in voice assistants (such as Amazon Alexa, Apple Siri, and Google Assistant) to assistive technologies (such as voiceover narration in product videos). For example, there are currently more than 3.25 billion voice assistants; a number that is expected to touch about 8 billion by next year (i.e., 2023) (Statista 2022). With the extensive availability and enhanced accuracy of AI-synthesized voices, consumer research is starting to examine the impact of AI-synthesized voices on consumer information processing and decision making. The extant literature, however, is relatively limited because …
Consumers’ Reaction To Corporate Esg Performance: Evidence From Store Visits, Frank Weikai Li, Frank Weikai Li, Roni Michaely
Consumers’ Reaction To Corporate Esg Performance: Evidence From Store Visits, Frank Weikai Li, Frank Weikai Li, Roni Michaely
Research Collection Lee Kong Chian School Of Business
Using micro-level data on consumer shopping behavior, this paper investigates end-consumers’ attitudes toward firms’ ESG behavior, and as importantly, the ability of consumers to affect firms’ policy concerning sustainability issues. We find that consumers care about firms’ approach toward ESG, and consumers’ behavior can impact firms’ attitudes. Using ESG incidents as a proxy, we find that the reduction in store visits is more pronounced for ESG-conscious consumers, such as those living in democratic counties, and counties with a higher fraction of educated and younger residents. Online shopping interest data yields similar results. Using abnormally hot temperature as a shock to …
Is Carbon Risk Priced In The Cross-Section Of Corporate Bond Returns?, Tinghua Duan, Frank Weikai Li, Quan Wen
Is Carbon Risk Priced In The Cross-Section Of Corporate Bond Returns?, Tinghua Duan, Frank Weikai Li, Quan Wen
Research Collection Lee Kong Chian School Of Business
This paper examines the pricing of a firm's carbon risk, measured by its carbon emissions intensity, in the cross-section of corporate bond returns. Contrary to the "carbon risk premium" hypothesis, we find bonds of firms with higher carbon emissions intensity earn significantly lower returns. This effect cannot be explained by a comprehensive list of bond characteristics and exposure to known risk factors. Investigating sources of the low carbon premium, we find the underperformance of bonds issued by carbon-intensive firms cannot be fully explained by divestment from institutional investors. Instead, our evidence is most consistent with investor underreaction to carbon risk, …
Bayesian Optimization With Switching Cost: Regret Analysis And Lookahead Variants, Peng Liu, Haowei Wang, Wei Qiyu
Bayesian Optimization With Switching Cost: Regret Analysis And Lookahead Variants, Peng Liu, Haowei Wang, Wei Qiyu
Research Collection Lee Kong Chian School Of Business
Bayesian Optimization (BO) has recently received increasing attention due to its efficiency in optimizing expensive-to-evaluate functions. For some practical problems, it is essential to consider the path-dependent switching cost between consecutive sampling locations given a total traveling budget. For example, when using a drone to locate cracks in a building wall or search for lost survivors in the wild, the search path needs to be efficiently planned given the limited battery power of the drone. Tackling such problems requires a careful cost-benefit analysis of candidate locations and balancing exploration and exploitation. In this work, we formulate such a problem as …
Beyond Anthropomorphism: Unraveling The True Priorities Of Chatbot Usage In Smes, Tamas Makany, Sungjong Roh, Kotaro Hara, Jie Min Hua, Felicia Si Ying Goh, Wilson Yang Jie Teh
Beyond Anthropomorphism: Unraveling The True Priorities Of Chatbot Usage In Smes, Tamas Makany, Sungjong Roh, Kotaro Hara, Jie Min Hua, Felicia Si Ying Goh, Wilson Yang Jie Teh
Research Collection Lee Kong Chian School Of Business
This study examined business communication practices with chatbots among various Small and Medium Enterprise (SME) stakeholders in Singapore, including business owners/employees, customers, and developers. Through qualitative interviews and chatbot transcript analysis, we investigated two research questions: (1) How do the expectations of SME stakeholders compare to the conversational design of SME chatbots? and (2) What are the business reasons for SMEs to add human-like features to their chatbots? Our findings revealed that functionality is more crucial than anthropomorphic characteristics, such as personality and name. Stakeholders preferred chatbots that explicitly identified themselves as machines to set appropriate expectations. Customers prioritized efficiency, …
Managing The Creative Frontier Of Generative Ai: The Novelty-Usefulness Tradeoff, Anirban. Mukherjee, Hannah H. Chang
Managing The Creative Frontier Of Generative Ai: The Novelty-Usefulness Tradeoff, Anirban. Mukherjee, Hannah H. Chang
Research Collection Lee Kong Chian School Of Business
In this paper, drawing inspiration from the human creativity literature, we explore the optimal balance between novelty and usefulness in generative Artificial Intelligence (AI) systems. We posit that overemphasizing either aspect can lead to limitations such as hallucinations and memorization. Hallucinations, characterized by AI responses containing random inaccuracies or falsehoods, emerge when models prioritize novelty over usefulness. Memorization, where AI models reproduce content from their training data, results from an excessive focus on usefulness, potentially limiting creativity. To address these challenges, we propose a framework that includes domain-specific analysis, data and transfer learning, user preferences and customization, custom evaluation metrics, …
Is Carbon Risk Priced In The Cross Section Of Corporate Bond Returns?, Tinghua Duan, Frank Weikai Li, Quan Wen
Is Carbon Risk Priced In The Cross Section Of Corporate Bond Returns?, Tinghua Duan, Frank Weikai Li, Quan Wen
Research Collection Lee Kong Chian School Of Business
This article examines the pricing of a firm’s carbon risk in the corporate bond market. Contrary to the “carbon risk premium” hypothesis, bonds of more carbon-intensive firms earn significantly lower returns. This effect cannot be explained by a comprehensive list of bond characteristics and exposure to known risk factors. Investigating sources of the low carbon alpha, we find the underperformance of bonds issued by carbon-intensive firms cannot be fully explained by divestment from institutional investors. Instead, our evidence is most consistent with investor underreaction to the predictability of carbon intensity for firm cash-flow news, creditworthiness, and environmental incidents.
The Persuasive Design Of Ai-Synthesized Voices, Hannah H. Chang, Anirban. Mukherjee
The Persuasive Design Of Ai-Synthesized Voices, Hannah H. Chang, Anirban. Mukherjee
Research Collection Lee Kong Chian School Of Business
We investigate the impact of AI-based, machine-synthesized narrating voices on consumer cognitions and behavior in media-rich environment. Across four studies (plus pretests), we show that the design of AI voices systematically and predictably affects consumer cognition and behavior. Specifically, the designs of AI voices have differential effects in early versus later stages of consumer purchase journey. In situations where the consumers’ attention is already directed to the message, we find that marcomm with more AI voices generates a smaller proportion of favorable thoughts, which leads to a lower purchase likelihood. These results support our conceptualization that hearing more AI voices …
Engaging Students Through Conversational Chatbots And Digital Content: A Climate Action Perspective., Thomas Menkhoff, Benjamin Gan
Engaging Students Through Conversational Chatbots And Digital Content: A Climate Action Perspective., Thomas Menkhoff, Benjamin Gan
Research Collection Lee Kong Chian School Of Business
In this case study, we report experiences deploying a conversational chatbot as a pre-class and post-class engagement tool for undergraduate students enrolled in sustainability-related courses aimed at educating them about the severity of climate change and the importance of climate action by offsetting one’s carbon footprint (e.g, by planting trees or mangroves in SEA). The intitiative supports the university’s sustainability efforts in general and our new sustainability major in particular aimed at helping students to achieve sustainability-related learning outcomes with reference to climate change and climate action (SDG 13), one of the 17 Sustainable Development Goals established by the United …
Arousing Motives Or Eliciting Stories? On The Role Of Pictures In A Picture–Story Exercise, Philipp Schäpers, Stefan Krumm, Filip Lievens, Nikola Stenzel
Arousing Motives Or Eliciting Stories? On The Role Of Pictures In A Picture–Story Exercise, Philipp Schäpers, Stefan Krumm, Filip Lievens, Nikola Stenzel
Research Collection Lee Kong Chian School Of Business
Picture–story exercises (PSE) form a popular measurement approach that has been widely used for the assessment of implicit motives. However, current theorizing offers two diverging perspectives on the role of pictures in PSEs: either to elicit stories or to arouse motives. In the current study, we tested these perspectives in an experimental design. We administered a PSE either with or without pictures. Results from N = 281 participants revealed that the experimental manipulation had a medium to large effect for the affiliation and power motive domains, but no effect for the achievement motive domain. We conclude that the herein chosen …
A Review On Derivative Hedging Using Reinforcement Learning, Peng Liu
A Review On Derivative Hedging Using Reinforcement Learning, Peng Liu
Research Collection Lee Kong Chian School Of Business
Hedging is a common trading activity to manage the risk of engaging in transactions that involve derivatives such as options. Perfect and timely hedging, however, is an impossible task in the real market that characterizes discrete-time transactions with costs. Recent years have witnessed reinforcement learning (RL) in formulating optimal hedging strategies. Specifically, different RL algorithms have been applied to learn the optimal offsetting position based on market conditions, offering an automatic risk management solution that proposes optimal hedging strategies while catering to both market dynamics and restrictions. In this article, the author provides a comprehensive review of the use of …
Sustainability Impact Assessment Of New Ventures: An Emerging Field Of Research, Klaus Fichter, Florian Ludeke-Freund, Stefan Schaltegger, Simon J.D. Schillebeeckx
Sustainability Impact Assessment Of New Ventures: An Emerging Field Of Research, Klaus Fichter, Florian Ludeke-Freund, Stefan Schaltegger, Simon J.D. Schillebeeckx
Research Collection Lee Kong Chian School Of Business
Entrepreneurs and start-ups are key actors in implementing environmental innovation and accelerating sustainability transitions. Thus, analyzing as well as predicting the impact of entrepreneurial ventures is central to management and entrepreneurship research. The sustainability performance, value and impact of incumbent firms and their products and services has been a key topic in business-related sustainability research for many years. However, assessing the sustainability effects of new ventures such as start-ups is a neglected area in the research literature. This article therefore provides an overview, including key definitions, a new conceptual framework, and notions that can help guide and inspire a future …
Automatic Scoring Of Speeded Interpersonal Assessment Center Exercises Via Machine Learning: Initial Psychometric Evidence And Practical Guidelines, Louis Hickman, Christoph N. Herde, Filip Lievens, Louis Tay
Automatic Scoring Of Speeded Interpersonal Assessment Center Exercises Via Machine Learning: Initial Psychometric Evidence And Practical Guidelines, Louis Hickman, Christoph N. Herde, Filip Lievens, Louis Tay
Research Collection Lee Kong Chian School Of Business
Assessment center (AC) exercises such as role-plays have established themselves as valuable approaches for obtaining insights into interpersonal behavior, but they are often considered the “Rolls Royce” of personnel assessment due to their high costs. The observation and rating process comprises a substantial part of these costs. In an exploratory case study, we capitalize on recent advances in natural language processing (NLP) by developing NLP-based machine learning (ML) models to investigate the possibility of automatically scoring AC exercises. First, we compared the convergent-related validity and contamination with word count of ML scores based on models that used different NLP methods …
Understanding Human-Centred Artificial Intelligence In The Banking Sector, Krishnaraj Arul Obuchettiar, Alan @ Ali Madjelisi Megargel
Understanding Human-Centred Artificial Intelligence In The Banking Sector, Krishnaraj Arul Obuchettiar, Alan @ Ali Madjelisi Megargel
Research Collection Lee Kong Chian School Of Business
The advent of smart digital devices and social media has shaped how consumers interact and transact with their financial institutions. Consumers increasingly want hyperpersonalised interactions that are more frequent and proactive, while financial institutions have a growing need to cater to consumers’ new demands. Financial institutions, such as banks, continuously adapt to the latest technologies to keep pace with evolving customer behaviours, needs, and experiences. One such emerging technology is artificial intelligence (AI). Many organisations realise the potential of AI; however, a human-centred AI system must be capable of understanding human characteristics and making decisions like humans. This paper presents …