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Singapore Management University

2012

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Articles 31 - 60 of 312

Full-Text Articles in Business

Building The Cfo Function: Roles And Responsibilities, Chunqi (Tracey) Zhang, Tong Kin Andrew Lee Nov 2012

Building The Cfo Function: Roles And Responsibilities, Chunqi (Tracey) Zhang, Tong Kin Andrew Lee

Research Collection School Of Accountancy

No abstract provided.

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Making Sense Of Other Comprehensive Income, Pearl Hock Neo Tan Nov 2012

Making Sense Of Other Comprehensive Income, Pearl Hock Neo Tan

Research Collection School Of Accountancy

SMU Associate Professor of Accounting (Practice) Pearl Tan commented on how other comprehensive income (OCI) is different from net income, and how SME managers and stakeholders may use the information on other comprehensive income to evaluate the business. She highlighted that it is important for owners and managers of SMEs to understand the components of OCI and commented on how it will affect reported equity and net assets. Stakeholders of an SME may also use the information on OCI to assess risks and to estimate future cash flows from the reported unrealised gains or losses.

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Disclosure And Cost Of Equity Capital: An Analysis At The Market Level, Yan Li, Holly I-Hwa Yang Nov 2012

Disclosure And Cost Of Equity Capital: An Analysis At The Market Level, Yan Li, Holly I-Hwa Yang

Research Collection School Of Accountancy

This study examines whether disclosure reduces the market cost of capital. A stock’s implied cost of capital is defined as the expected return that equates its current price to the present value of its expected future free cash flows. We compute implied costs of capital for each firm and use their average as a measure of the market cost of capital. Using a sample of management forecasts issued between 1994 and 2010, we find that an increase in disclosure at the aggregate level results in a lower market cost of capital. This result is robust to alternative measures of disclosure …

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Customer Satisfaction Index Of Singapore 2012: Q3 Results, Institute Of Service Excellence, Smu Nov 2012

Customer Satisfaction Index Of Singapore 2012: Q3 Results, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence (2007-2024)

The Customer Satisfaction Index of Singapore (CSISG) computes customer satisfaction scores at the national, sector, sub-sector, and company levels. The CSISG serves as a quantitative benchmark of the quality of goods and services produced by the Singapore economy over time and across countries. This is the sixth year of measurement.

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Building The Cfo Function: Roles And Responsibilities, Andrew Lee, Chunqi (Tracey) Zhang Nov 2012

Building The Cfo Function: Roles And Responsibilities, Andrew Lee, Chunqi (Tracey) Zhang

Research Collection School Of Accountancy

No abstract provided.

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Information And Competitive Strategy In A Networked Economy, Robert J. Kauffman, Thomas A. Weber, D. J. Wu Nov 2012

Information And Competitive Strategy In A Networked Economy, Robert J. Kauffman, Thomas A. Weber, D. J. Wu

Research Collection School Of Computing and Information Systems

>One of the transformative changes over the past decade has been the way networks have enabled the distributed generation of value and how businesses and organizations have managed to capture a portion of this value. This has resulted in a plethora of innovative business ideas and new strategies. The present special section deals with the incentives for distributed content generation; counterintuitive network effects in the security software market, which features an intrinsic negative externality; and the possibility for collaboration between different platforms in a two-sided market. The included papers offer an interesting mix of theoretical and practical insights. All of …

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The Labor Supply And Welfare Effects Of Early Access To Medicare Through Social Security Disability Insurance, Kim Nov 2012

The Labor Supply And Welfare Effects Of Early Access To Medicare Through Social Security Disability Insurance, Kim

Research Collection School Of Economics

Social Security Disability Insurance (SSDI) beneficiaries receive a cash benefit and become eligible for health insurance from Medicare two years after their enrollment. Disabled workers who leave the labor force typically lose health insurance from their employers, and they face significant medical expenditure risk as a result of their disability. Therefore, access to Medicare makes SSDI an especially attractive alternative to remaining employed for workers with disabilities. My research is the first to analyze the importance of medical expenditure risk and Medicare in analysis of SSDI, and it addresses the following questions: (1) How does access to Medicare via SSDI …

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Building The Cfo Function: Roles And Responsibilities, Andrew Lee, Tracey Zhang Nov 2012

Building The Cfo Function: Roles And Responsibilities, Andrew Lee, Tracey Zhang

Research Collection School Of Accountancy

In May 2012, the Singapore CFO Institute, in collaboration with the School of Accountancy at Singapore Management University (SMU), embarked on this study with the objective of achieving a better understanding of the CFO function in today’s modern corporation. The study aims to answer a fundamental question – what do CFOs actually do? We examined several facets to this question: the key roles and responsibilities of CFOs; how those responsibilities are structured; whether those roles have changed in importance over time; what roles occupy the most of the CFOs’ attention and time; and what factors are challenging or enhancing the …

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Cognitive And Social Factors Affecting The Use Of Wikipedia And Information Seeking, Siyoung Chung Nov 2012

Cognitive And Social Factors Affecting The Use Of Wikipedia And Information Seeking, Siyoung Chung

Research Collection Lee Kong Chian School Of Business

Wikipedia, the free online encyclopedia, is the preferred choice among resources used by college students to meet their research needs. However, Wikipedia has been criticized for its low information quality, lack of accountability, inconsistency, and vulnerability to vandalism. Despite the warnings and concerns voiced by academia, online learning tools such as Wikipedia will continue their rise as major learning resource in today's classroom. Using a sample of 184 college students, the study proposed theoretical models to test the effects of internal beliefs, motivations, and social influences on Wikipedia use and information-seeking, and further empirically tested those models. The findings of …

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Empowering Change: The Effects Of Energy Provision On Individual Aspirations In Slum Communities, Priti Parikh, Sankalp Chaturvedi, Gerard George Nov 2012

Empowering Change: The Effects Of Energy Provision On Individual Aspirations In Slum Communities, Priti Parikh, Sankalp Chaturvedi, Gerard George

Research Collection Lee Kong Chian School Of Business

This paper discusses the role of energy provision in influencing the social aspirations of people living in slums. We examine factors that influence the shift in aspirations in five slum settlements using data from 500 interviews conducted in serviced and non-serviced slums from the state of Gujarat in India. The non-serviced slums did not have access to basic services namely water, sanitation, energy, roads, solid waste and rainwater management. We find empirical evidence which suggests that when basic infrastructure provisions are met, slum dwellers shift their focus from lower order aspirations to the higher order aspirations like health, education, housing …

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Innovating In The Periphery: The Impact Of Local And Foreign Inventor Mobility On The Value Of Indian Patents, Tufool Alnuaimi, Tore Opsahl, Gerard George Nov 2012

Innovating In The Periphery: The Impact Of Local And Foreign Inventor Mobility On The Value Of Indian Patents, Tufool Alnuaimi, Tore Opsahl, Gerard George

Research Collection Lee Kong Chian School Of Business

We examine the impact of local and foreign labor mobility in India by modeling one regional and one global network, each of which captures the inter-organizational mobility of inventors. Our analysis of the regional network shows that, within India, the productivity of inventors does not improve when they move from foreign to Indian organizations. In the global network, we find that Indian organizations remain located in the periphery as a result of employing a small number of inventors from foreign organizations. However, in the instances when inventors are hired from foreign organizations, they are able to produce patents with a …

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Toward A Theory Of Extended Contact: The Incentives And Opportunities For Bridging Across Network Communities, Maxim Sytch, Adam Tatarynowicz, Ranjay Gulati Nov 2012

Toward A Theory Of Extended Contact: The Incentives And Opportunities For Bridging Across Network Communities, Maxim Sytch, Adam Tatarynowicz, Ranjay Gulati

Research Collection Lee Kong Chian School Of Business

This study investigates the determinants of bridging ties within networks of interconnected firms. Bridging ties are defined as nonredundant connections between firms located in different network communities. We highlight how firms can enter into these relationships because of the incentives and opportunities for action that are embedded in the existing network structure. Specifically, we propose that the dynamics of proximate network structures, which reflect firms' and their partners' direct connections, affect the formation of bridging ties by shaping the value-creation and value-distribution incentives for bridging. We also argue that the evolving global network structure affects firms' propensity to form bridging …

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Algorithmic Trading And Changes In Firms Equity Capital, Ekkehart Boehmer, Kingsley Fong, Julie Wu Nov 2012

Algorithmic Trading And Changes In Firms Equity Capital, Ekkehart Boehmer, Kingsley Fong, Julie Wu

Research Collection Lee Kong Chian School Of Business

We use a large sample from 2001 to 2009 that incorporates intraday transactions data from 39 exchanges and an average of 12,800 different common stocks to assess the effect of algorithmic trading (AT) on firms’ capital raising activities. Greater AT reduces net equity issues over the next year, but this is only partly driven by AT’s effect on proceeds from new securities issues. Our findings suggest that the main driver of this relationship is AT’s effect on share repurchases.

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Robust Storage Assignment In Unit-Load Warehouses, Marcus Ang, Yun Fong Lim, Melvyn Sim Nov 2012

Robust Storage Assignment In Unit-Load Warehouses, Marcus Ang, Yun Fong Lim, Melvyn Sim

Research Collection Lee Kong Chian School Of Business

Assigning products to and retrieving them from proper storage locations are crucial in minimizing the operating cost of a unit-load warehouse. The problem becomes intractable when the warehouse faces variable supply and uncertain demand in a multi-period setting. We assume a factor-based demand model in which demand for each product in each period is affinely dependent on some uncertain factors. The distributions of these factors are only partially characterized. We introduce a robust optimization model that minimizes the worst-case expected total travel in the warehouse with distributional ambiguity of demand. Under a linear decision rule, we obtain a storage and …

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Grades Matter In Performance: Morningstar Stewardship Grades And Mutual Fund Performance, Aurobindo Ghosh, Jeremy Goh, Wee Seng Ng Nov 2012

Grades Matter In Performance: Morningstar Stewardship Grades And Mutual Fund Performance, Aurobindo Ghosh, Jeremy Goh, Wee Seng Ng

Research Collection Lee Kong Chian School Of Business

Investors in mutual funds have the unenviable task of disentangling two mutually confounding effects. First, to fathom the future performance of the funds based on current evidence, and second, to assess how well the mutual fund managers will steward their investments under uncertain economic conditions. We corroborate the dependence of weighted risk-adjusted returns (viz. the Star Ratings) on corporate governance score (viz. Stewardship Grade) accounting for fund specific characteristics. We document Stewardship scores Granger cause Star Rating. We propose an objective data-driven corporate governance score based on the components of Stewardship Grade. Both the static and dynamic fixed-effects models show …

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Science And Technology Parks As An Open Innovation Catalyst For Valorization, Arcot Desai Narasimhalu Nov 2012

Science And Technology Parks As An Open Innovation Catalyst For Valorization, Arcot Desai Narasimhalu

Research Collection School Of Computing and Information Systems

This paper sets out by reviewing the key elements of a Science or Technology Park in the context of open innovation. This is followed by a broad scan of Science and Technology Park activity in South and South East Asia. The paper proceeds to discuss Singapore’s continuous efforts to create new Science and Technology park models and presents a new approach the Singapore Management University has pursued for catalyzing valorization. Insights into and recommendations on key issues related to intellectual property, licensing and venture capital that would be of interest to any Science Park are presented later.

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Performance Sensitivity Of Executive Pay: The Role Of Foreign Investors And Affiliated Directors In Japan, Asli M. Colpan, Toru Yoshikawa Nov 2012

Performance Sensitivity Of Executive Pay: The Role Of Foreign Investors And Affiliated Directors In Japan, Asli M. Colpan, Toru Yoshikawa

Research Collection Lee Kong Chian School Of Business

This study investigates the effects of corporate governance factors on the firm performance and executive compensation linkage. Specifically, we examine how domestic corporate-appointed directors, bank-appointed directors and foreign ownership moderate the relationship between firm profitability, sales growth, and executive bonus pay in Japanese firms. Using a sample of the largest Japanese manufacturing companies from 1997 to 2007, we find that corporate-appointed directors positively moderate the relationship between firm growth and bonus pay, while foreign shareholders exhibit a positive moderating effect on the relationship between firm profitability and bonus pay. Bank-appointed directors are straddled between their profitability orientation and relational role: …

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Can Us Economic Variables Predict Chinese Stock Market?, Jeremy Goh, Fuwei Jiang, Jun Tu, Yuchen Wang Nov 2012

Can Us Economic Variables Predict Chinese Stock Market?, Jeremy Goh, Fuwei Jiang, Jun Tu, Yuchen Wang

Research Collection Lee Kong Chian School Of Business

In the last few decades, we observed a significant increase in global economic activities and these activities may have an impact on both China's economy and stock market. Given the potential impact, we empirically examine whether US economic variables are leading indicators of the Chinese stock market. Prior to China joining the World Trade Organization (WTO) in the end of 2001, we find no statistical relationship between US economic variables and the Chinese stock market returns. However, we find US economic variables have statistically significant predictive power for periods after China's admission into the WTO. In addition, we show that …

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Asian Hedge Funds In A Risk-On, Risk-Off World, Melvyn Teo Oct 2012

Asian Hedge Funds In A Risk-On, Risk-Off World, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

We analyze the performance of Asia-focused and Asia-based funds in risk-on and risk-off periods between 2002 and 2011. We find that Asian hedge funds, like their US and European counterparts, deliver equity-like payoffs with bond-like risk. They generate returns that are roughly in line with the equity markets in risk-on and neutral states of the world. While their returns do not dominate those of US Treasuries in risk-off situations, they generally outperform the equity market by a significant margin. Indeed, their risk-adjusted returns in riskoff states are on par if not higher than their risk-adjusted returns in risk-on states. Of …

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Daddy’S Advice For Life, Singapore Management University Oct 2012

Daddy’S Advice For Life, Singapore Management University

Perspectives@SMU

ANTHONY A. ROSE , speaks about his book, "Daddy's Logic", which is based on real-life experiences and anecdotes of some of the most inspirational people in the world, ROSE looks back over 30 years of shared experiences with his late father-as well as over 21 years of career experiences in working with many of `Daddy's Heroes`-to define and share Daddy's Logic for success in both the personal and professional spheres of one's life.

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Sgx Listing Rule 1207(10): Challenges And Opportunities For Caes, See Liang Foo Oct 2012

Sgx Listing Rule 1207(10): Challenges And Opportunities For Caes, See Liang Foo

Research Collection School Of Accountancy

No abstract provided.

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Raising The Bar, Jiwei Wang Oct 2012

Raising The Bar, Jiwei Wang

Research Collection School Of Accountancy

No abstract provided.

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The Triangular Relationship Between Audit Committee Characteristics, Audit Input And Financial Reporting Quality, Jae Bum Kim, Benjamin Segal, Dan Segal, Yoonseok Zang Oct 2012

The Triangular Relationship Between Audit Committee Characteristics, Audit Input And Financial Reporting Quality, Jae Bum Kim, Benjamin Segal, Dan Segal, Yoonseok Zang

Research Collection School Of Accountancy

Using the reforms to audit committees mandated by the Sarbanes-Oxley Act of 2002 and the difference-in-difference approach, we examine the impact of changes in audit committee attributes (financial expertise, size and independence) on the corporate commitment to audit assurance and on the likelihood of financial statement restatements. Firms that were directly affected by the reforms experienced a greater improvement in audit inputs (measured by audit fees and the appointment of an industry specialist auditor) and a larger decline in financial statements restatements relative to firms that had already been compliant. Importantly, we find that the decline in restatements is not …

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Content Contribution For Revenue Sharing And Reputation: A Dynamic Structural Model, Qian Tang, Bin Gu, Andrew B. Whinston Oct 2012

Content Contribution For Revenue Sharing And Reputation: A Dynamic Structural Model, Qian Tang, Bin Gu, Andrew B. Whinston

Research Collection School Of Computing and Information Systems

This study examines the incentives for content contribution in social media. We propose that exposure and reputation are the major incentives for contributors. Besides, as more and more social media Web sites offer advertising-revenue sharing with some of their contributors, shared revenue provides an extra incentive for contributors who have joined revenue-sharing programs. We develop a dynamic structural model to identify a contributor's underlying utility function from observed contribution behavior. We recognize the dynamic nature of the content-contribution decision-that contributors are forward-looking, anticipating how their decisions affect future rewards. Using data collected from YouTube, we show that content contribution is …

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The Political Economy Of Contract Farming In China's Agrarian Transition, Qian Forrest Zhang Oct 2012

The Political Economy Of Contract Farming In China's Agrarian Transition, Qian Forrest Zhang

Research Collection School of Social Sciences

How does rural China’s political economy determine the motivations and constraints that drive small farmers and agribusiness companies into contract farming and shape its practice and impact? This paper identifies three distinctive features of contract farming in China—varied impact on rural inequality, unstable contractual relations, and lack of competitiveness with other alternatives—and proposes tentative explanations with three features in rural China’s political economy: strong collective institutions, active state support for agriculture, and strong domestic markets. The recent turn in China’s agrarian transition toward vertical integration of agriculture with industries is, however, undermining these conditions and may move China toward more …

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Social Networks And Risk Taking: Evidence From Corporate Control Activities, Yen Teik Lee Oct 2012

Social Networks And Risk Taking: Evidence From Corporate Control Activities, Yen Teik Lee

Research Collection Lee Kong Chian School Of Business

This paper investigates the impact of social ties between the Chief Executive Officer (CEO) andboard members on corporate risk-taking in mergers and acquisitions (M&As) and on shareholdervalue. Using a measure of CEO-director connections in a large sample of U.S. firms from 2000 to2010, we document that boardroom connections lower firm acquisitiveness. If connected CEOsundertake M&As, they are less likely to choose focus acquisitions, and more likely to pay in stock.CEO-board connections do not enhance firm value in M&As. Higher levels of boardroomconnection are associated with lower announcement returns and lower subsequent return on assets.Our results are robust to alternative explanations …

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Asia In The Middle East: The Internationalization Of Singapore Private Firms Into The Gcc, Caroline Yeoh, Wilfred Pow Ngee How, Simin Sharmaine Neo Oct 2012

Asia In The Middle East: The Internationalization Of Singapore Private Firms Into The Gcc, Caroline Yeoh, Wilfred Pow Ngee How, Simin Sharmaine Neo

Research Collection Lee Kong Chian School Of Business

Internationalization efforts into the GCC as a national initiative tend to be spearheaded by a vanguard of government-linked companies (GLCs), usually assisted in their entry through various connections, political or otherwise. As large companies with the presumed reliability of government backing, these GLCs tend to be involved in larger-scale, more critical, and more iconic projects. It is a matter of fact, however, that while internationalization may be led by large-scale and attention-grabbing GLCs, the vast majority of FDI and economic activity is, in the long term, entrenched in the activities of private companies. As such, it must logically follow that …

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Engaging Students In Higher Education Through Mobile Learning: Lessons Learnt In A Chinese Entrepreneurship Course, Thomas Menkhoff, Magnus Lars Bengsston Oct 2012

Engaging Students In Higher Education Through Mobile Learning: Lessons Learnt In A Chinese Entrepreneurship Course, Thomas Menkhoff, Magnus Lars Bengsston

Research Collection Lee Kong Chian School Of Business

This evaluative-exploratory case study reports pedagogical experiences with using mobiles phones, wikis, and other mobile learning approaches such as podcasts and walking tours as educational tools in the context of an undergraduate course on Chinese Entrepreneurship and Asian Business Networks taught at a university in Singapore. Conceptualized as mobile learning, the paper argues that information and communication technologies (ICT) devices used by Gen Y students as part of their everyday life such as hand phones in combination with social media platforms such as course wikis and other proven pedagogical methods such as mini lectures, field visits, and walking tours can …

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Understanding The Quantitative Finance Industry In Asia, Chyng Wen Tee, Christopher Hian Ann Ting Oct 2012

Understanding The Quantitative Finance Industry In Asia, Chyng Wen Tee, Christopher Hian Ann Ting

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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The Price Discovery Puzzle In Offshore Yuan Trading: Different Contributions For Different Contracts, David K. Ding, Y. Tse, M. Williams Oct 2012

The Price Discovery Puzzle In Offshore Yuan Trading: Different Contributions For Different Contracts, David K. Ding, Y. Tse, M. Williams

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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