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Research Collection Lee Kong Chian School Of Business

2015

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Full-Text Articles in Business

Situational Judgment Test, Britt De Soete, Filip Lievens Dec 2015

Situational Judgment Test, Britt De Soete, Filip Lievens

Research Collection Lee Kong Chian School Of Business

In this article, we give an overview of situational judgment tests (SJTs) as selection instruments. Their history, basic characteristics, and development are presented. The available research evidence regarding their reliability, construct-related validity, criterion-related validity, incremental validity, subgroup differences, and test-taker perceptions is also reviewed. As a general conclusion, the increasing popularity of SJTs in personnel selection seems to be accredited to their potential to capture a variety of constructs and for different purposes. Additionally, SJTs are able to predict several job-related and/or academic criteria while at the same time offering prospects permitting to select for diversity.


Selling Expert Knowledge: The Role Of Consultants In Singapore's New Economy, Hans-Dieter Evers, Thomas Menkhoff Dec 2015

Selling Expert Knowledge: The Role Of Consultants In Singapore's New Economy, Hans-Dieter Evers, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

We are currently witnessing a major transition from the old type of industrialsociety with its traditional dominance of manufacturing work and old industrialclasses to an information and knowledge-based society (Albrow and King 1981;Drucker 1994; Stehr 1994; Hannerz 1996; Baber 1998; Evers 2000, 2000a,b,c)which is believed to have the following characteristics:· Its members have attained a higher average standard of education incomparison to other societies and a growing proportion of its labour force areemployed as knowledge workers. In other words, there is a significantreduction in the number of people working in operational roles, whileemployment in professional, knowledge-based roles has risen.· Its …


Hardcore Subcultures For Law-Abiding Citizens And Online Nationalism: Case Study On The Korean Internet Community Ilbe Jeojangso, Kyujin Shim Dec 2015

Hardcore Subcultures For Law-Abiding Citizens And Online Nationalism: Case Study On The Korean Internet Community Ilbe Jeojangso, Kyujin Shim

Research Collection Lee Kong Chian School Of Business

In general, the Internet is perceived as a liberal space in terms of major user demographics and political orientation, and Korea’s cyberspace leans toward liberals and left-wing groups (Peak, 2013). So, interesting questions arise regarding ILBE and its popularity: In a liberal-dominant cyberspace, what drives conservative netizens to the ILBE community, armed with strong racism and nationalism? What are the differences and commonalities between the ILBE community and Japanese Netto-uyo? In the chronology of Korean online communities, sporadically, netizens possessing conservative and racist traits have attempted to build conservative online communities but these have been limited, and none …


Volume Information In Nikkei And Topix Futures Transactions, Chyng Wen Tee, Christopher Ting Dec 2015

Volume Information In Nikkei And Topix Futures Transactions, Chyng Wen Tee, Christopher Ting

Research Collection Lee Kong Chian School Of Business

According to the Kyle (1985) model of informed trading, information in trade size is likely to effect a permanent price impact, as opposed to bid-ask bounce, which mainly captures transitory price fluctuation. However, two prominent structural models in the literature do not include trade size in their framework. In this paper, we present a nesting relationship of major structural models and formulate a generalized model that includes all relevant trade variables. A new measure to quantify the amount of information in the order flow is proposed. Using this price impact measure, our empirical analysis shows that it is indeed the …


Incremental Validity Of Leaderless Group Discussion Ratings Over And Above General Mental Ability And Personality In Predicting Promotion, Xavier Borteyrou, Filip Lievens, Marilou Bruchon-Schweitzer, Anne Congard, Nicole Rascle Dec 2015

Incremental Validity Of Leaderless Group Discussion Ratings Over And Above General Mental Ability And Personality In Predicting Promotion, Xavier Borteyrou, Filip Lievens, Marilou Bruchon-Schweitzer, Anne Congard, Nicole Rascle

Research Collection Lee Kong Chian School Of Business

Leaderless group discussions (LGDs) constitute one of the oldest assessment center exercises. In recent times, their added value has sometimes been questioned in light of trends to streamline assessment centers. The purpose of the present study is to examine the incremental validity of LGD ratings over cognitive ability scores and personality ratings for the prediction of extrinsic career success (i.e., promotion speed and number of promotions). We investigated this issue in the context of the promotion of French naval officers (N=93) in an academy for high-level executive positions over a 10-year period. Results indicated that LGD ratings accounted for incremental …


Abusive Supervision And Psychological Capital: A Mediated Moderation Model Of Team Member Support And Supervisor-Student Exchange, Zhenyu Liao, Yuchuan Liu Dec 2015

Abusive Supervision And Psychological Capital: A Mediated Moderation Model Of Team Member Support And Supervisor-Student Exchange, Zhenyu Liao, Yuchuan Liu

Research Collection Lee Kong Chian School Of Business

Embedded in higher educational settings, this study examines the relationship between abusive supervision and psychological capital and the mechanism through which abusive supervision and team member support interact to influence psychological capital with supervisor-student exchange mediating the interaction with psychological capital. Data collected from 222 graduate students in six Chinese universities supports our mediated moderation model: abusive supervision negatively relates to psychological capital and supervisor-student exchange mediates the positive moderating effect of team member support on the relationship between abusive supervision and psychological capital. Theoretical and practical implications of these findings are discussed.


Supply Management In Multiproduct Firms With Fixed Proportions Technology, Onur Boyabatli Dec 2015

Supply Management In Multiproduct Firms With Fixed Proportions Technology, Onur Boyabatli

Research Collection Lee Kong Chian School Of Business

This paper studies the supply management of a primary input, where this input gives rise to multiple products in fixed proportions. My objective is twofold. First, I study fixed proportions technology under demand uncertainty in comparison with flexible and the dedicated technologies. I show that fixed proportions technology has a cost- pooling value over dedicated technology, which is larger than the capacity-pooling value of flexible technology over dedicated technology. I identify the critical role that demand correlation plays with the fixed proportions technology: In contrast to the capacitypooling value which decreases in demand correlation, the cost-pooling value increases in demand …


Conveying The Adaptation Of Management Panaceas: The Case Of Management Gurus, Timothy Adrian Robert Clark, Pojanth Bhatanacharoen, David Greatbatch Dec 2015

Conveying The Adaptation Of Management Panaceas: The Case Of Management Gurus, Timothy Adrian Robert Clark, Pojanth Bhatanacharoen, David Greatbatch

Research Collection Lee Kong Chian School Of Business

In this chapter we examine how management gurus through the telling of epiphanic and non-epiphanic stories convey the level of adaptability of their ideas. We argue that for their ideas to leave the auditorium with the audience members they have to present them in ways which convincingly demonstrate that they are potentially pertinent to the variety of working lives of those who attend. Drawing on a Conversation Analytic approach, the chapter shows that in the post-story assessment the gurus use a double structure of humor then seriousness. The contrast between the light-heartedness of the story and the seriousness of the …


Emergence Of Fintech And The Lasic Principles, David K. C. Lee, Ernie G. S. Teo Dec 2015

Emergence Of Fintech And The Lasic Principles, David K. C. Lee, Ernie G. S. Teo

Research Collection Lee Kong Chian School Of Business

Financial technology (FinTech) has been receiving much attention lately. For instance, global investments in FinTech ventures (covering sectors from remittances, loans to payments) have grown 3 times from US$ 4.05 billion in 2013 to US$ 12.21 billion in 2014 (Accenture, 2015). Although the development of FinTech is still in early stages, they will define and shape the future of the financial industry. Even though there are large amounts of funds entering the market, not all FinTech ventures will be successful; various factors (both internal and external) are crucial. We identify some of these factors which we term the LASIC (Low …


Gamelead: A Gamified Application To Engage Learners, Jayarani Tan, Nachamma Mrs Nachamma Sockalingam Dec 2015

Gamelead: A Gamified Application To Engage Learners, Jayarani Tan, Nachamma Mrs Nachamma Sockalingam

Research Collection Lee Kong Chian School Of Business

This submissiondescribes the use of gamified learning to engage learners using a mobile/desktopapplication called “GameLead” in higher education. GameLead is easy to accessand use, and it encourages cognitive and social learning, to engage learners.


Industry Interdependencies And Cross-Industry Return Predictability, David E. Rapach, Jack Strauss, Jun Tu, Guofu Zhou Dec 2015

Industry Interdependencies And Cross-Industry Return Predictability, David E. Rapach, Jack Strauss, Jun Tu, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

We use the adaptive LASSO from the statistical learning literature to identify economically connected industries in a general framework that accommodates complex industry interdependencies. Our results show that lagged returns of interdependent industries are significant predictors of individual industry returns, consistent with gradual information diffusion across industries. Using network analysis, we find that industries with the most extensive predictive power are key central nodes in the production network of the U.S. economy. Further linking cross-return predictability to the real economy, lagged employment growth for the interdependent industries predicts individual industry employment growth. We also compute out-of-sample industry return forecasts based …


A Quay Crane System That Self-Recovers From Random Shocks, Yun Fong Lim, Yan Zhang, Chen Wang Dec 2015

A Quay Crane System That Self-Recovers From Random Shocks, Yun Fong Lim, Yan Zhang, Chen Wang

Research Collection Lee Kong Chian School Of Business

The main challenge for a container terminal is to maximize its throughput using limited resources subject to various operational constraints under uncertainty. Traditional methods try to achieve this through an optimized plan by solving a quay crane scheduling problem; but the plan may become obsolete or infeasible after shocks (changes in the system due to uncertainty). To respond to shocks these methods require frequent re-planning, which increases the operations cost. We propose a new method to counter this. Instead of creating plans, we develop an operating protocol to respond to shocks without re-planning. Under this protocol, each quay crane along …


The Management Of Natural Resources: An Overview And Research Agenda, Gerard George, Simon J. D. Schillebeeckx, Teng Lit Liak Dec 2015

The Management Of Natural Resources: An Overview And Research Agenda, Gerard George, Simon J. D. Schillebeeckx, Teng Lit Liak

Research Collection Lee Kong Chian School Of Business

Natural resources underpin the foundation of human activity. Individuals and organizations consume vast amounts of natural resources as a matter of routine without much cognizance of their continued availability in the future or the true cost of a depleting natural resource. Over the past decades of industrial activity, organizations, communities, and nations have acted to protect their interests by investing in and securing their supplies of natural resources that support economic growth. An industrial complex, now variously termed as extractive industries, supplies crucial non-renewable natural resources such as oil and coal for energy or iron and aluminum for construction. Our …


A State-Stewardship View On Executive Compensation, Hao Liang, Luc Renneboog, Sunny Li Sun Dec 2015

A State-Stewardship View On Executive Compensation, Hao Liang, Luc Renneboog, Sunny Li Sun

Research Collection Lee Kong Chian School Of Business

We take a state-stewardship view on corporate governance and executive compensation in economies with strong political involvement, where state-appointed managers act as responsible ‘stewards’ rather than ‘agents’ of the state. We test this view on China and find that Chinese managers are remunerated not for maximizing equity value but for increasing the value of state-owned assets. Managerial compensation depends on political connections and prestige, and on the firms’ contribution to political goals. These effects were attenuated since the market-oriented governance reform. In a social welfare perspective, such compensation stimulates not the maximization of shareholder value but the preservation of the …


Open Market Share Repurchase Programs And Corporate Governance: Company Performance, Gary Caton, Jeremy Goh, Yen Teik Lee, Scott C. Linn Dec 2015

Open Market Share Repurchase Programs And Corporate Governance: Company Performance, Gary Caton, Jeremy Goh, Yen Teik Lee, Scott C. Linn

Research Collection Lee Kong Chian School Of Business

Payout policies based on share repurchase programs provide greater flexibility than do those based on cash dividends. We develop and test an empirical model in which strongly-governed companies outperform weakly-governed companies after announcing share repurchase programs. Our findings include positive associations between strong governance and both post-announcement adjusted operating performance and abnormal stock returns. The results are robust to sample selection bias, different sample criteria, governance measurement, and various control variables. In addition, governance strength is associated with larger post-announcement changes in CEO incentive compensation and merger and acquisition activity, both of which we argue are consistent with strongly-governed companies …


Competition Of The Informed: Does The Presence Of Short Sellers Affect Insider Selling?, Massimo Massa, Wenlan Qian, Weibiao Xu, Hong Zhang Nov 2015

Competition Of The Informed: Does The Presence Of Short Sellers Affect Insider Selling?, Massimo Massa, Wenlan Qian, Weibiao Xu, Hong Zhang

Research Collection Lee Kong Chian School Of Business

We study how the presence of short sellers affects the incentives of the insiders to trade on negative information. We show it induces insiders to sell more (shares from their existing stakes) and trade faster to preempt the potential competition from short sellers. An experiment and instrumental variable analysis confirm this causal relationship. The effects are stronger for "opportunistic" (i.e., more informed) insider trades and when short sellers' attention is high. Return predictability of insider sales only occurs in stocks with high short-selling potential, suggesting that short sellers indirectly enhance the speed of information dissemination by accelerating trading by insiders. …


On The Edge Of Disruption, David K. C. Lee Nov 2015

On The Edge Of Disruption, David K. C. Lee

Research Collection Lee Kong Chian School Of Business

The financial system is on the verge of massive disruption. Innovative competitors operating on sleek business models and offering new alternative services are entering at the bottom of the market, where gross margins are low and latent demand is high. As these new entrants scale and progress through higher market segments, they will erode incumbent pricing power.


New Approach To Density Estimation And Application To Value-At-Risk, Kian Guan Lim, Hao Cheng, Nelson K. L. Yap Nov 2015

New Approach To Density Estimation And Application To Value-At-Risk, Kian Guan Lim, Hao Cheng, Nelson K. L. Yap

Research Collection Lee Kong Chian School Of Business

The key contribution in this paper is to provide a new approach in estimating the physical distribution of the underlying asset return by using a quadratic Radon-Nikodym derivative function. The latter function transforms a fitted Variance Gamma risk-neutral distribution that is obtained from traded option prices. The generality of the VG distribution helps to avoid unnecessary mis-specification bias. The estimated empirical distribution is then used to find the risk measure of VaR. We show that possible underestimation of VaR risk using existing methods is largely not due to VaR itself but perhaps due to mis-specification errors which we minimize in …


How Kinetic Property Shapes Novelty Perceptions, Junghan Kim, Arun Lakshmanan Nov 2015

How Kinetic Property Shapes Novelty Perceptions, Junghan Kim, Arun Lakshmanan

Research Collection Lee Kong Chian School Of Business

This article demonstrates a new substantive finding: that kinetic property in advertising, defined as direction changes in the paths of moving on-screen ad elements, enhances consumer judgments of product novelty. Across six studies, the authors first outline an inference-based theory as to why the novelty-enhancing effect of kinetic property manifests: kinetic property generates impressions of how visually lively an ad is, which leads to inferences of product atypicality and, consequently, higher novelty judgments. Second, they demonstrate boundary conditions by showing that (1) the positive effect for kinetic property is evident with incremental (and not radical) innovations, (2) the effect dissipates …


A Risk- And Complexity-Rating Framework For Investment Products, Benedict S. K. Koh, Francis Koh, David K. C. Lee, Kian Guan Lim, David Ng, Kok Fai Phoon Nov 2015

A Risk- And Complexity-Rating Framework For Investment Products, Benedict S. K. Koh, Francis Koh, David K. C. Lee, Kian Guan Lim, David Ng, Kok Fai Phoon

Research Collection Lee Kong Chian School Of Business

Many investors who bought such investments as Lehman Brothers’ minibonds did not understand the products’ complicated features. This fact suggests that if the inherent risk and complexity of products’ structure are not clearly understood by investors, they will be unable to make informed decisions. Some practitioners have recently attempted to calibrate product complexity. The authors propose a framework for classifying investment product risk and complexity separately with a list of factors that contribute to these attributes. They demonstrate the framework’s simplicity and usefulness in helping investors make informed decisions, showing that it can be used to calibrate a variety of …


Can't We All Just Get Along?, Pang, A., Yan Jin Nov 2015

Can't We All Just Get Along?, Pang, A., Yan Jin

Research Collection Lee Kong Chian School Of Business

Looking for a conflict management strategy that works? Contingency theory could hold the key.


The Bright Side Of Political Uncertainty: The Case Of R&D, Julian Atanassov, Brandon Julio, Tiecheng Leng Nov 2015

The Bright Side Of Political Uncertainty: The Case Of R&D, Julian Atanassov, Brandon Julio, Tiecheng Leng

Research Collection Lee Kong Chian School Of Business

We examine the relationship between political uncertainty and R&D investment by exploiting the timing of U.S. gubernatorial elections as a source of plausibly exogenous variation in uncertainty. In contrast to the literature documenting negative effects of political uncertainty on real investment, we find that uncertainty over government policy encourages firm-level R&D. Firms increase R&D investments by an average of 4.6% in election years relative to non-election years. The uncertainty effect is stronger in hotly contested elections, in politically sensitive and hard-to-innovate industries, and in firms subject to higher growth options and greater product market competition. Our findings suggest that, as …


The Brief Aggression Questionnaire: Reliability, Validity, And Structure, Gregory D. Webster, C. Nathan Dewall, Richard S. Pond, Timothy Deckman, Peter K. Jonason, Bonnie M. Le, Austin Lee Nichols, Tatiana Orozco Schember, Laura C. Crysel, Benjamin S. Crosier, C. Veronica Smith, Elizabeth Layne Paddock Nov 2015

The Brief Aggression Questionnaire: Reliability, Validity, And Structure, Gregory D. Webster, C. Nathan Dewall, Richard S. Pond, Timothy Deckman, Peter K. Jonason, Bonnie M. Le, Austin Lee Nichols, Tatiana Orozco Schember, Laura C. Crysel, Benjamin S. Crosier, C. Veronica Smith, Elizabeth Layne Paddock

Research Collection Lee Kong Chian School Of Business

In contexts that increasingly demand brief self-report measures (e.g., experience sampling, longitudinal and field studies), researchers seek succinct surveys that maintain reliability and validity. One such measure is the 12-item Brief Aggression Questionnaire (BAQ; Webster et al., 2014), which uses 4 3-item subscales: Physical Aggression, Verbal Aggression, Anger, and Hostility. Although prior work suggests the BAQ's scores are reliable and valid, we addressed some lingering concerns. Across 3 studies (N = 1,279), we found that the BAQ had a 4-factor structure, possessed long-term test–retest reliability across 12 weeks, predicted differences in behavioral aggression over time in a laboratory experiment, …


Inquiring Into Activist Publics In Chronic Environmental Issues: Use Of The Mutual Gains Approach For Breaking A Deadlock, Soojin Kim, Jeong-Nam Kim, Laishan Tam, Gwang Tae Kim Nov 2015

Inquiring Into Activist Publics In Chronic Environmental Issues: Use Of The Mutual Gains Approach For Breaking A Deadlock, Soojin Kim, Jeong-Nam Kim, Laishan Tam, Gwang Tae Kim

Research Collection Lee Kong Chian School Of Business

This study aims to understand different publics’ communicative behaviors for problem solving surrounding an oil spill issue in Korea. Specifically, it explores the differences between chronic activists and other types of publics who were affected by this chronic environmental issue. A total of 24 interviews were conducted, from which five different types of publics were identified. The findings suggest that the majority of activists who are currently working on the issue are closed-chronic activists, which are slightly different from Ni and Kim’s findings on chronic activists’ communicative behaviors. Interviews were also conducted with five communication experts to propose viable conflict …


Institutional Trading During A Wave Of Corporate Scandals: 'Perfect Payday'?, Gennaro Bernile, Johan Sulaeman, Qin Wang Oct 2015

Institutional Trading During A Wave Of Corporate Scandals: 'Perfect Payday'?, Gennaro Bernile, Johan Sulaeman, Qin Wang

Research Collection Lee Kong Chian School Of Business

This paper examines the role of institutional trading during the option backdating scandal of 2006-2007. Unlike their inability to anticipate other corporate events, institutional investors as a group display negative abnormal trading imbalances (i.e., buy minus sell volumes) in anticipation of firm-specific backdating exposures. Consistent with informed trading, the underlying trades earn positive abnormal short- and long-term profits. Moreover, the negative abnormal imbalances are larger in magnitude when backdating is likely a more severe issue. Local institutions, in particular, display negative trading imbalances earlier in event-time and earn consistently higher trading profits than non-local institutions. Although we find some evidence …


Corporate Social Responsibility: The Myopic Barometer?, Christo Ferreira, David K. Ding, Udomsak Wongchoti Oct 2015

Corporate Social Responsibility: The Myopic Barometer?, Christo Ferreira, David K. Ding, Udomsak Wongchoti

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Trading Costs On The Stock Exchange Of Thailand, Nattawut Jenwittayaroje, Charlie Charoenwong, David K. Ding, Yung Chiang Yang Oct 2015

Trading Costs On The Stock Exchange Of Thailand, Nattawut Jenwittayaroje, Charlie Charoenwong, David K. Ding, Yung Chiang Yang

Research Collection Lee Kong Chian School Of Business

This study examines the components of trading costs incurred in trading large and liquid stocks listed on the Stock Exchange of Thailand. We find that aggressive orders pay an immediacy price measured by price impact, whereas executed passive orders gain the immediacy price. We also find a sizable opportunity cost from the unexecuted portion of a limit order that more than offsets the benefit obtained from the partial fulfillment of the order. The total trading cost, which includes price impact and opportunity cost, is positively related to order size and stock price volatility, but negatively associated with firm size, stock …


Gender Research In Amj: An Overview Of Five Decades Of Empirical Research And Calls To Action, Aparna Joshi, Brett Neely, Cynthia Emrich, Dorothy Griffiths, Gerard George Oct 2015

Gender Research In Amj: An Overview Of Five Decades Of Empirical Research And Calls To Action, Aparna Joshi, Brett Neely, Cynthia Emrich, Dorothy Griffiths, Gerard George

Research Collection Lee Kong Chian School Of Business

Fifteen years into the 21st century, gender equality appears to be at the forefront of the global humanitarian agenda. As a co-recipient of the 2014 Nobel Peace Prize, Malala Yousafzai became a symbol for the rights of women and girls to obtain an education. In the same year, the United Nations launched the “HeForShe” campaign, which views men and boys as advocates and stakeholders in the campaign for gender equality around the world. Globally, equitable access to education and employment has been recognized as not only a “women’s issue” but as a human rights issue (UN Women, 2014).


Insights And Observations On The Decision To Trust In Both Science And Practice: Interview With Robert F. Hurley, Donald Lee Ferrin Oct 2015

Insights And Observations On The Decision To Trust In Both Science And Practice: Interview With Robert F. Hurley, Donald Lee Ferrin

Research Collection Lee Kong Chian School Of Business

In this interview, Dr Robert F. Hurley shares his own professional journey through the worlds of scientific research on trust and the practical application of trust research. Dr Hurley also shares his views on the nature, magnitude, and causes of the science-practice gap, and he discusses how practitioners and scholars might fruitfully bridge the gap.


Leading Authentically: Overcoming The Mind-Boggling Consequences Of Mindless Leadership, Thomas Menkhoff Oct 2015

Leading Authentically: Overcoming The Mind-Boggling Consequences Of Mindless Leadership, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

The extent of fake leadership and management behaviour in business and society is mind-boggling as indicated by the large number of corporate non-compliance cases and trust violations. Examples include the BP Deepwater Horizon oil spill, the damaged reputation of UK-based pharmaceuticals giant GlaxoSmithKline as a consequence of a bribery case in China or the recent class action lawsuit related to price-fixing of tickets for trans-Pacific flights.