Physical Sciences and Mathematics Commons^™

Catching The Fast Payments Trend: Optimal Designs And Leadership Strategies Of Retail Payment And Settlement Systems, Zhiling Guo, Dan Ma

Research Collection School Of Computing and Information Systems

Recent financial technologies have enabled fast payments and are reshaping retail payment and settlement systems globally. We developed an analytical model to study the optimal design of a new retail payment system in terms of settlement speed and system capability under both bank and fintech firm heterogeneous participation incentives. We found that three types of payment systems emerge as equilibrium outcomes: batch retail (BR), expedited retail (ER), and real-time retail (RR) payment systems. Although the base value of the payment service positively affects both settlement speed and system capability, the expected liquidity cost negatively impacts settlement speed, and total transaction …

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.

Do Firms Respond To Peer Disclosures? Evidence From Disclosures Of Clinical Trial Results, Vedran Capkun, Yun Lou, Clemens A. Otto, Yin Wang

Research Collection School Of Accountancy

Using data on the registration of clinical trials and the disclosure of trial results, we examine how firms respond to peer disclosures. We find that firms are less likely to disclose their own trial results if the results of a larger number of closely related trials are disclosed by their peers. This relation is stronger if the firms face higher competition (as measured by the number of competing trials). It is weaker if the firms are further along in their research than the peers (as measured by the trials’ phase) and if the peers’ disclosures convey more negative news (as …

Consumer Reaction To The Use Of Artificial Intelligence Chatbot On Distribution Of General Insurance In Singapore, Lai Hing Tan

Dissertations and Theses Collection (Open Access)

As technology rapidly permeates all aspects of our lives, it is not unusual to question and even challenge the rationale on why certain industries are slower to adapt to the new digital age. Insurance is a business that is under scrutiny given its traditional ways of selling and legacy challenges. Why is technology investment in insurance companies lagging others? One emerging technological disruption is artificial intelligence (AI). It is the science of designing and building intelligent systems that can complete tasks traditionally performed by humans. AI is expected to fundamentally transform today’s marketplace, for businesses and consumers alike. However, because …

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 …

Assessing The Effectiveness Of A Chatbot Workshop As Experiential Teaching And Learning Tool To Engage Undergraduate Students, Kyong Jin Shim, Thomas Menkhoff, Ying Qian Teo, Clement Shi Qi Ong

Research Collection School Of Computing and Information Systems

In this paper, we empirically examine and assess the effectiveness of a chatbot workshop as experiential teaching and learning tool to engage undergraduate students enrolled in an elective course “Doing Business with A.I.” in the Lee Kong Chian School of Business (LKCSB) at Singapore Management University. The chatbot workshop provides non-STEM students with an opportunity to acquire basic skills to build a chatbot prototype using the ‘Dialogflow’ program. The workshop and the experiential learning activity are designed to impart conversation and user-centric design know how and know why to students. A key didactical aspect which informs the design and flow …

Informational Content Of Factor Structures In Simultaneous Discrete Response Models, Shakeeb Khan, Arnaud Maurel, Yichong Zhang

Research Collection School Of Economics

We study the informational content of factor structures in discrete triangular systems. Factor structures have been employed in a variety of settings in cross sectional and panel data models, and in this paper we attempt to formally quantify their informational content in a bivariate system often employed in the treatment effects literature. Our main findings are that under the factor structures often imposed in the literature, point identification of parameters of interest, such as both the treatment effect and the factor load, is attainable under weaker assumptions than usually required in these systems. For example, we show is that an …

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

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 …

A Study Of The Impact Of Data Intelligence On Software Delivery Performance, Yongdong Dong

Dissertations and Theses Collection (Open Access)

With the rise of big data and artificial intelligence, data intelligence has gradually become the focus of academia and industry. Data intelligence has two obvious characteristics: big data drive and application scene drive. More and more enterprises extract valuable patterns contained in data with prediction and decision analysis methods and technologies such as large-scale data mining, machine learning and deep learning and use them to improve the management and decision in complex practice, so as to promote changes of new business modes, organizational structures and even business strategies, and improve the operational efficiency of organizations. However, there are few studies …

Creating The Capacity For Digital Government, Cheow Hoe Chan, Steven M. Miller

Asian Management Insights

This article explains how a well-thought-out data policy, supported by a tech stack and cloud infrastructure, an agile way of working, and coordinated whole-of-government leadership, are fundamental to successful government digital transformation efforts, as exemplified by the Singapore government’s digital journey. As part of explaining how to create the capacity for digital government, the main sections of this article cover:

• The origins of GovTech
• How thinking big, starting small and acting fast is a practical strategy for organisational learning
• The importance of horizontal platforms and other enablers of a horizontal approach
• Data architecture and policy
• “Shifting left” with internal technology …

Learning-Based Stock Trending Prediction By Incorporating Technical Indicators And Social Media Sentiment, Zhaoxia Wang, Zhenda Hu, Fang Li, Seng-Beng Ho, Erik Cambria

Research Collection School Of Computing and Information Systems

Stock trending prediction is a challenging task due to its dynamic and nonlinear characteristics. With the development of social platform and artificial intelligence (AI), incorporating timely news and social media information into stock trending models becomes possible. However, most of the existing works focus on classification or regression problems when predicting stock market trending without fully considering the effects of different influence factors in different phases. To address this gap, this research solves stock trending prediction problem utilizing both technical indicators and sentiments of the social media text as influence factors in different situations. A 3-phase hybrid model is proposed …

Towards A Design Space For Storytelling On The Fashion Technology Runway, Sydney Pratte, Anthony Tang, Shannon Hoover, Maria Elena Hoover, Matt Laprarie, Catherine Larose, Lora Oehlberg

Research Collection School Of Computing and Information Systems

Fashion is driven by a narrative, i.e. a story or idea that the designer wants to convey to the audience. Fashion-tech now adds another dimension to this narrative through dynamically changing aspects of the garments. Many factors of presentation in a runway show affect how fashion-tech garments communicate a story to the audience. In this pictorial, we review a set of twenty-eight storytelling fashion-tech garments. We identify, catalogue, and categorize the factors designers used to convey stories to the audience from the runway. The design space consists of three levels: (1) the artifact-level, (2) the viewer-level, and (3) the context-level. …

Research@Smu: Sustainable Living, Singapore Management University

Research Collection Office of Research

Sustainable Living is one of the three key priorities of the SMU 2025 Strategy, and the University is committed to develop it into an area of cross-disciplinary strength. The articles in this booklet highlight impactful sustainability research accomplishments at SMU, which spans five broad pillars: Sustainable Business Operations; Sustainable Finance and Impact Assessment; Sustainable Ageing and Wellness; Sustainable Urban Infrastructure; and Sustainable Agro-business and Food Consumption.

Contents:

Sustainable Business Operations

• Managing the Load on Loading Bays
• Going the Last-mile
• Feeding a Growing World
• Pooling the Benefits of Sharing a Ride

Sustainable Finance and Impact Assessment

• When Going Green Becomes a …

Augmenting Fake Content Detection In Online Platforms: A Domain Adaptive Transfer Learning Via Adversarial Training Approach, Ka Chung Ng, Ping Fan Ke, Mike K. P. So, Kar Yan Tam

Research Collection School Of Computing and Information Systems

Online platforms are experimenting with interventions such as content screening to moderate the effects of fake, biased, and incensing content. Yet, online platforms face an operational challenge in implementing machine learning algorithms for managing online content due to the labeling problem, where labeled data used for model training are limited and costly to obtain. To address this issue, we propose a domain adaptive transfer learning via adversarial training approach to augment fake content detection with collective human intelligence. We first start with a source domain dataset containing deceptive and trustworthy general news constructed from a large collection of labeled news …

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 …

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 …

Anchorage: Visual Analysis Of Satisfaction In Customer Service Videos Via Anchor Events, Kam Kwai Wong, Xingbo Wang, Yong Wang, Jianben He, Rong Zhang, Huamin Qu

Research Collection School Of Computing and Information Systems

Delivering customer services through video communications has brought new opportunities to analyze customer satisfaction for quality management. However, due to the lack of reliable self-reported responses, service providers are troubled by the inadequate estimation of customer services and the tedious investigation into multimodal video recordings. We introduce , a visual analytics system to evaluate customer satisfaction by summarizing multimodal behavioral features in customer service videos and revealing abnormal operations in the service process. We leverage the semantically meaningful operations to introduce structured event understanding into videos which help service providers quickly navigate to events of their interest. supports a comprehensive …

Human-Centred Artificial Intelligence In The Banking Sector, Krishnaraj Arul Obuchettiar, Alan @ Ali Madjelisi Megargel

Research Collection School Of Computing and Information Systems

Changes in technology have shaped how corporate and retail businesses have evolved, alongside the customers’ preferences. The advent of smart digital devices and social media has shaped how consumers interact and transact with their financial institutions over the past two decades. With the rapid evolution of new technologies and customers' growing preference for digital engagement with financial institutions, organizations need to adopt and align with emerging technologies that support speed, accuracy, efficiency, and security in a user-friendly manner. Today, consumers want hyper-personalized interactions that are more frequent and proactive. Moreover, financial institutions have a growing need to cater to consumers' …

Understanding Sentiment Through Context, Richard M.Crowley, M.H. Franco Wong

Research Collection School Of Accountancy

We examine whether empirical results using text-based sentiment of U.S. annual reports depend on the underlying context, within documents, from which sentiment is measured. We construct a clause-level measure of context, showing that sentiment is driven by many different contexts and that positive and negative sentiment are driven by different contexts. We then construct context-level sentiment measures and examine whether sentiment works as expected at the context-level across four prediction problems. Our results demonstrate that document-level sentiment exhibits significant noise in prediction and suggest that document-level aggregation of sentiment leads to missed empirical nuances. The contexts driving sentiment results vary …

The Effectiveness Of Using Python Programming Approach In Teaching Ffnancial Analytics, Clarence Goh, Yuanto Kusnadi, Gary Pan

Research Collection School Of Accountancy

This study presents a learning method and challenges regarding implementing a Python programming approach in teaching financial analytics to graduate accounting students. The advent of Big Data, as well as related applications and technologies, has significantly changed the process and practice of accounting. This has led to essential changes in the construction and teaching content of accounting education. While there have been several studies examining how data analytics is embedded in the accounting curriculum, the majority of the teaching cases in accounting focus on analysis and communication with Excel as the principal tool, with very few covering the necessary steps …

Pickup And Multi-Delivery Problem With Time Windows, Pham Tuan Anh, Aldy Gunawan, Vincent F. Yu, Tuan C. Chau

Research Collection School Of Computing and Information Systems

This paper addresses a new variant of Pickup and Delivery Problem with Time Windows (PDPTW) for enhancing customer satisfaction. In particular, a huge number of requests is served in the system, where each request includes a pickup node and several delivery nodes instead of a pair of pickup and delivery nodes. It is named Pickup and Multi-Delivery Problem with Time Windows (PMDPTW). A mixed-integer programming model is formulated with the objective of minimizing total travel costs. Computational experiments are conducted to test the correctness of the model with a newly generated benchmark based on the PDPTW benchmark instances. Results show …

What Should Streamers Communicate In Livestream E-Commerce? The Effects Of Social Interactions On Live Streaming Performance, Danyang Song, Xi Chen, Zhiling Guo, Xiao Liu Liu, Ruijin. Jin

Research Collection School Of Computing and Information Systems

Compared with traditional e-commerce, livestreaming e-commerce is characterized by direct and intimate communication between streamers and consumers that stimulates instant social interactions. This study focuses on streamers’ three types of information exchange (i.e., product information, social conversation, and social solicitation) and examines their roles in driving both short-term and long-term livestreaming performance (i.e., sales and customer base growth). We find that the informational role of product information (nonpromotional and promotional) is beneficial not only to sales performance, but also to the growth of the customer base. We also find that social conversation has a relationship-building effect that positively impacts both …

Tourgether360: Collaborative Exploration Of 360° Videos Using Pseudo-Spatial Navigation, Kartikaeya Kumar, Lev Poretski, Jianan Li, Anthony Tang

Research Collection School Of Computing and Information Systems

Collaborative exploration of 360 videos with contemporary interfaces is challenging because collaborators do not have awareness of one another's viewing activities. Tourgether360 enhances social exploration of 360° tour videos using a pseudo-spatial navigation technique that provides both an overhead "context" view of the environment as a minimap, as well as a shared pseudo-3D environment for exploring the video. Collaborators are embodied as avatars along a track depending on their position in the video timeline and can point and synchronize their playback. We evaluated the Tourgether360 concept through two studies: first, a comparative study with a simplified version of Tourgether360 with …

Towards Automated Safety Vetting Of Smart Contracts In Decentralized Applications, Yue Duan, Xin Zhao, Yu Pan, Shucheng Li, Minghao Li, Fengyuan Xu, Mu Zhang

Research Collection School Of Computing and Information Systems

We propose VetSC, a novel UI-driven, program analysis guided model checking technique that can automatically extract contract semantics in DApps so as to enable targeted safety vetting. To facilitate model checking, we extract business model graphs from contract code that capture its intrinsic business and safety logic. To automatically determine what safety specifications to check, we retrieve textual semantics from DApp user interfaces. To exclude untrusted UI text, we also validate the UI-logic consistency and detect any discrepancies. We have implemented VetSC and applied it to 34 real-world DApps. Experiments have demonstrated that VetSC can accurately interpret smart contract code, …

Agriculture And Sustainable Farming In Vietnam, Minh Hoan Le

Asian Management Insights

Le Minh Hoan, Minister of Agriculture and Rural Development of Vietnam, talks about the future of sustainable agriculture in ASEAN.

Artificial Intelligence, Consumers, And The Experience Economy, Hannah H. Chang, Anirban Mukherjee

Research Collection Lee Kong Chian School Of Business

The term Artificial Intelligence (AI) was first used by McCarthy, Minsky, Rochester, and Shannon in a proposal for a summer research project in 1955 (Solomonoff, 1985). It is widely and commonly defined to be “the science and engineering of making intelligent machines” (McCarthy, 2006). Recent technological advances and methodological developments have made AI pervasive in new marketing offerings, ranging from self-driving cars, intelligent voice assistants such as Amazon’s Alexa, to burger-making robots at restaurants and rack-moving robots inside warehouses such as Amazon’s family of robots (Kiva, Pegasus, Xanthus) and delivery drones. There is optimism, and perhaps even over-optimism, of the …

Field Experiments In Operations Management, Yang Gao, Meng Li, Shujing Sun

Research Collection School Of Computing and Information Systems

While the field experiment is a powerful and well-established method to investigate causal relationships, operations management (OM) has embraced this methodology only in recent years. This paper provides a comprehensive review of the existing OM literature leveraging field experiments and serves as a one-stop guide for future application of field experiments in the OM area. We start by recapping the characteristics that distinguish field experiments from other common types of experiments and organizing the relevant OM studies by topic. Corresponding to the commonly overlooked issues in field experiment-based OM studies, we then provide a detailed roadmap, ranging from experimental design …

Using Machine Learning To Extract Insights From Consumer Data, Hannah H. Chang, Anirban Mukherjee

Research Collection Lee Kong Chian School Of Business

Advances in digital technology have led to the digitization of everyday activities of billions of people around the world, generating vast amounts of data on human behavior. From what people buy, to what information they search for, to how they navigate the social, digital, and physical world, human behavior can now be measured at a scale and level of precision that human history has not witnessed before. These developments have created unprecedented opportunities for those interested in understanding observable human behavior–social scientists, businesses, and policymakers—to (re)examine theoretical and substantive questions regarding people’s behavior. Moreover, technology has led to the emergence …

Multi-Functional Job Roles To Support Operations In A Multi-Faceted Jewel Enabled By Ai And Digital Transformation, Steven M. Miller

Research Collection School Of Computing and Information Systems

In this story, we highlight the way in which the use of AI enabled support systems, together with work process digital transformation and innovative approaches to job redesign, have combined to dramatically change the nature of the work of the front-line service staff who protect and support the facility and visitors at the world’s most iconic airport mall and lifestyle destination.