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The Effect Of Internal Control Weakness Under Section 404 Of The Sarbanes-Oxley Act On Audit Fees, Jong-Hag CHOI, Jeong-Bon KIM, Soo Young KWON, Yoonseok ZANG 2010 Singapore Management University

The Effect Of Internal Control Weakness Under Section 404 Of The Sarbanes-Oxley Act On Audit Fees, Jong-Hag Choi, Jeong-Bon Kim, Soo Young Kwon, Yoonseok Zang

Research Collection School Of Accountancy

In this paper, we investigate the effect of the enactment of the SarbanesOxleyAct (SOX) in 2002 on audit pricing, using a sample of 252 firms that received an “Ineffective” audit opinion and other firms that received cleanaudit opinion on the effectiveness of the internal control over financial reportingunder Section 404 of SOX. Our analyses show the following. First,we find that auditors charge significantly higher audit fees for all firms inthe post-SOX period than in the pre-SOX period. Second, we find that auditors’opinions on the weakness in internal control (WIC) are positively associatedwith audit fees, and that the positive ...


Information Risk And Underwriter Switching In Seos: Evidence From China, Wei LUO, Pingui RAO, Heng YUE 2010 Singapore Management University

Information Risk And Underwriter Switching In Seos: Evidence From China, Wei Luo, Pingui Rao, Heng Yue

Research Collection School Of Accountancy

In this paper we examine whether information risk affects underwriter switching in a seasoned equity offering (SEO) process. Building on previous research, we hypothesize that SEO firms and underwriters associate with one another by mutual choice, and firms with a low degree of information risk tend to match up with prestigious underwriters. Using a sample of SEO firms in China and employing accruals quality as a proxy of information risk, we find evidence consistent with our hypothesis: the information risk and the initial public offering (IPO) underwriters’ reputation at the time of the SEO jointly determine the probability that the ...


Direct And Indirect Effects Of Internal Control Weakness And External Audit Effort On Accruals Quality: Evidence From A Unique Canadian Regulatory Setting, Hai LU, Gordon D RICHARDSON, Steven SALTERIO 2010 Singapore Management University

Direct And Indirect Effects Of Internal Control Weakness And External Audit Effort On Accruals Quality: Evidence From A Unique Canadian Regulatory Setting, Hai Lu, Gordon D Richardson, Steven Salterio

Research Collection School Of Accountancy

Public disclosure about effectiveness of internal control systems is subject to much controversy in Canada, resulting in Canadian disclosures being made in Management Discussion and Analysis (MD&A). These disclosures are provided to investors without a definition of the weaknesses to be reported, without implementation effectiveness testing, no direct management certification and no external audit of such disclosures. Though the cost of such SOX North disclosures are lower than in the U.S setting, the credibility of these disclosures is far from assured, posing an important empirical issue for regulators interested in the cost versus benefit trade-off of various disclosure ...


Corporate Philanthropic Giving, Advertising Intensity, And Industry Competition Level, Ran ZHANG, Jigao ZHU, Heng YUE, Chunyan ZHU 2010 Singapore Management University

Corporate Philanthropic Giving, Advertising Intensity, And Industry Competition Level, Ran Zhang, Jigao Zhu, Heng Yue, Chunyan Zhu

Research Collection School Of Accountancy

This article examines whether the likelihoodand amount of firm charitable giving in response tocatastrophic events are related to firm advertising intensity,and whether industry competition level moderatesthis relationship. Using data on Chinese firms’ philanthropicresponse to the 2008 Sichuan earthquake, we findthat firm advertising intensity is positively associated withboth the probability and the amount of corporate giving.The results also indicate that this positive advertisingintensity-philanthropic giving relationship is stronger incompetitive industries, and firms in competitive industriesare more likely to donate. This study thus provides evidencesuggesting that even in the wake of catastrophicevents, corporate philanthropic giving is strategic.


Is Premium Pricing Strategy A Viable Option To Pursue Higher Revenue Performance? A Case Study Of Relative Pricing Strategy In The Singapore Lodging Market, Xiaorong Chen 2010 University of Nevada, Las Vegas

Is Premium Pricing Strategy A Viable Option To Pursue Higher Revenue Performance? A Case Study Of Relative Pricing Strategy In The Singapore Lodging Market, Xiaorong Chen

UNLV Theses, Dissertations, Professional Papers, and Capstones

This is an exploratory research paper on how relative pricing affects an individual hotel’s revenue performance in the Singapore lodging market. First, it measures the REVPAR effects for both a discounting and premium pricing strategy at a local hotel against its competitive set. The findings conclude that a premium pricing strategy is a better way to improve REVPAR performance due to the inelastic nature of the demand curve for hotel rooms in the Singapore market. The findings also show that there is a price limit to a premium pricing strategy, beyond which the growth of REVPAR stagnates because customers ...


Weathering The Storm: Asian Hedge Funds, Melvyn TEO 2010 Singapore Management University

Weathering The Storm: Asian Hedge Funds, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

How has the financial crisis shaped the hedge fund industry in Asia? We survey the style, investment region, and assets under management landscape of Asia-based hedge funds before and after the recent economic downturn. Our findings suggest that during the early part of the crisis in 2007, macro and fixed income funds based in Australia were especially vulnerable. When Asian financial markets succumbed in 2008 and 2009, hedge fund exits ramped up in Singapore and Hong Kong, particularly amongst event driven and Japan-focused funds. Small funds were most susceptible to closure during the liquidity crunch. Conversely, CTAs and Greater China-focused ...


Side-By-Side Management Of Hedge Funds And Mutual Funds, Tom NOHEL, Z. Jay WANG, Lu ZHENG 2010 Loyola University

Side-By-Side Management Of Hedge Funds And Mutual Funds, Tom Nohel, Z. Jay Wang, Lu Zheng

Research Collection BNP Paribas Hedge Fund Centre

We examine situations where the same fund manager simultaneously manages mutual funds and hedge funds. We refer to this as side-by-side management. We document 344 such cases involving 693 mutual funds and 538 hedge funds. Proponents of this practice argue that it is essential to hire and retain star performers. Detractors argue that the temptation for abuse is high and the practice should be banned. Our analysis based on various performance metrics shows that side-by-side mutual fund managers significantly outperform peer funds, consistent with this privilege being granted primarily to star performers. Interestingly, side-by-side hedge fund managers are at best ...


"Play Along" With The Authors: Half-Life 2, Bioshock, And Video Game Narrative, Samy Masadi 2010 Rhode Island College

"Play Along" With The Authors: Half-Life 2, Bioshock, And Video Game Narrative, Samy Masadi

Honors Projects Overview

Applies narrative analysis to two story-based video games, Half-Life 2 and BioShock, arguing that such games combine traditional narrative elements in innovative ways. Includes discussion of narratology, ludology, and game narrative theory.


Pricing Options In An Extended Black Scholes Economy With Illiquidity: Theory And Empirical Evidence, Umut Cetin, Robert Jarrow, Mitchell Protter, Mitchell WARACHKA 2010 London School of Economics and Political Science

Pricing Options In An Extended Black Scholes Economy With Illiquidity: Theory And Empirical Evidence, Umut Cetin, Robert Jarrow, Mitchell Protter, Mitchell Warachka

Research Collection Lee Kong Chian School Of Business

This article studies the pricing of options in an extended Black Scholes economy in which the underlying asset is not perfectly liquid. The resulting liquidity risk is modeled as a stochastic supply curve, with the transaction price being a function of the trade size. Consistent with the market microstructure literature, the supply curve is upward sloping with purchases executed at higher prices and sales at lower prices. Optimal discrete time hedging strategies are then derived. Empirical evidence reveals a significant liquidity cost intrinsic to every option. [PUBLICATION ABSTRACT]


Competition, Competitiveness And 'Created' Competitive Advantages: Re-Positioning The Singapore 'Advantage' In China, India, Vietnam And Indonesia, Caroline YEOH 2010 Singapore Management University

Competition, Competitiveness And 'Created' Competitive Advantages: Re-Positioning The Singapore 'Advantage' In China, India, Vietnam And Indonesia, Caroline Yeoh

Research Collection Lee Kong Chian School Of Business

No abstract provided.


The Roles That Forecast Surprise And Forecast Error Play In Determining Management Forecast Precision, Jong-Hag CHOI, Linda A. MYERS, Yoonseok ZANG, David A. ZIEBART 2010 Seoul National University

The Roles That Forecast Surprise And Forecast Error Play In Determining Management Forecast Precision, Jong-Hag Choi, Linda A. Myers, Yoonseok Zang, David A. Ziebart

Research Collection School Of Accountancy

Studying the determinants of management forecast precision is important because a better understanding of the factors affecting management’s choice of forecast precision can provide investors and other users with cues about the characteristics of the information contained in the forecasts. In addition, as regulators assess the regulation of voluntary management disclosures, they need to better understand how managers choose among forecast precision disclosure alternatives. Using 16,872 management earnings forecasts collected from 1995 through 2004, we provide strong evidence that forecast precision is negatively associated with the magnitude of the forecast surprise and that this negative association is stronger ...


Manual: Blue Cross And Blue Shield Of Florida Foundation- June 2010-March 2011 Media Placements, Blue Cross and Blue Shield of Florida, Inc. 2010 University of North Florida

Manual: Blue Cross And Blue Shield Of Florida Foundation- June 2010-March 2011 Media Placements, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A manual for the Blue Cross and Blue Shield of Florida Foundation Media Placements for June 2010 - March 2011. Box 29, Folder 381.


Food Delivery Footprint: Addressing Transportation, Packaging, And Waste In The Food Supply Chain, Madeleine E. Pullman, Robin Fenske, Wayne Wakeland 2010 Portland State University

Food Delivery Footprint: Addressing Transportation, Packaging, And Waste In The Food Supply Chain, Madeleine E. Pullman, Robin Fenske, Wayne Wakeland

Business Faculty Publications and Presentations

Transportation of food accounts for a significant fraction of the carbon dioxide emissions believed to be adversely impacting climate and the environment. And this impact is increasing as food supply chains become longer and more complex, and food packaging requirements lead to increased waste. Many organizations such as hospitals and upper level education are becoming increasingly concerned about sustainability. In this study, college, university, and hospital food purchasing behavior were assessed using interviews, surveys, and modeling to evaluate the environmental implications of decisions regarding food transportation and packaging. Current purchasing practices, corresponding transportation modes, packaging, recycling, and waste removal were ...


The Impact Of Rebranding On Guest Satisfaction And Financial Performance: A Case Study Of Holiday Inn Singapore Orchard City Centre, Pingshan Huang 2010 University of Nevada, Las Vegas

The Impact Of Rebranding On Guest Satisfaction And Financial Performance: A Case Study Of Holiday Inn Singapore Orchard City Centre, Pingshan Huang

UNLV Theses, Dissertations, Professional Papers, and Capstones

Existing literature has shown that effective branding/ re-branding can positively impact customer purchase preferences and intentions, satisfaction and loyalty and a firm’s financial performance. Building on these links, this paper investigated if there was a significant improvement in the Holiday Inn Singapore Orchard City Centre’s guest satisfaction (OSAT) and financial performance after its rebranding. Paired-samples analyses were conducted on the hotel’s pre- and post-rebranding guest satisfaction, occupancy, average daily rates (ADR), revenue per available room (RevPAR), revenue and net operating profit (NOP). Overall, the results revealed that after the rebranding, HISOCC’s occupancy and RevPAR increased significantly ...


Is Virtualization An Appropriate Method Of Disaster Recovery For The Hospitality Industry?, Manognya Murukutla 2010 University of Nevada, Las Vegas

Is Virtualization An Appropriate Method Of Disaster Recovery For The Hospitality Industry?, Manognya Murukutla

UNLV Theses, Dissertations, Professional Papers, and Capstones

Organizations across all business sectors are making increasing use of IT today. While other industries have understood the consequences of this dependence in the event of IT disasters and placed a large emphasis on disaster recovery plans and technology, the hospitality industry is lagging behind. One of the reasons why the hospitality industry does not place as much of an importance to disaster recovery is the cost. However, IT disaster is a very damaging occurrence, and measures should be taken to mitigate the event. Loss of a property's information technology (IT) functions can cause chaos in a hotel’s ...


An Analysis Of Extreme Price Shocks And Illiquidity Among Systematic Trend Followers, Bernard LEE, Shih-Fen CHENG, Annie KOH 2010 Singapore Management University

An Analysis Of Extreme Price Shocks And Illiquidity Among Systematic Trend Followers, Bernard Lee, Shih-Fen Cheng, Annie Koh

Research Collection Lee Kong Chian School Of Business

We construct an agent-based model to study the interplay between extreme price shocks and illiquidity in the presence of systematic traders known as trend followers. The agent-based approach is particularly attractive in modeling commodity markets because the approach allows for the explicit modeling of production, capacities, and storage constraints. Our study begins by using the price stream from a market simulation involving human participants and studies the behavior of various trend-following strategies, assuming initially that their participation will not impact the market. We notice an incremental deterioration in strategy performance as and when strategies deviate further and further from the ...


Growth And Survival Of International Joint Ventures: An External-Internal Legitimacy Perspective, Jane W. LU, Dean XU 2010 Singapore Management University

Growth And Survival Of International Joint Ventures: An External-Internal Legitimacy Perspective, Jane W. Lu, Dean Xu

Research Collection Lee Kong Chian School Of Business

The authors examine the growth and survival of international joint ventures (IJVs) from a legitimacy perspective. In a sample of 291 Sino-Japanese joint ventures in China, they found that Chinese parent age, Chinese parent size, and IJV industry relatedness to either parent had a positive effect on IJV growth and/or survival. However, IJV industry relatedness to both parents led to lower rates of IJV growth and survival. The findings highlight the importance for IJVs to obtain both external and internal legitimacy, as well as the difficulties IJVs face in acquiring internal legitimacy from both parents simultaneously.


Creating Competitive Advantages In The Global Marketplace: The Singapore Experiment In India, Caroline YEOH, Victor Sim, Norhanna Yumi 2010 Singapore Management University

Creating Competitive Advantages In The Global Marketplace: The Singapore Experiment In India, Caroline Yeoh, Victor Sim, Norhanna Yumi

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Entrepreneurial Experiments In Science Policy: Analyzing The Human Genome Project, Kenneth G. HUANG, Fiona E. MURRAY 2010 Singapore Management University

Entrepreneurial Experiments In Science Policy: Analyzing The Human Genome Project, Kenneth G. Huang, Fiona E. Murray

Research Collection Lee Kong Chian School Of Business

We re-conceptualize the role of science policy makers, envisioning and illustrating their move from being simple investors in scientific projects to entrepreneurs who create the conditions for entrepreneurial experiments and initiate them. We argue that reframing science policy around the notion of conducting entrepreneurial experiments – experiments that increase the diversity of technical, organizational and institutional arrangements in which scientific research is conducted – can provide policy makers with a wider repertoire of effective interventions. To illustrate the power of this approach, we analyze the Human Genome Project (HGP) as a set of successful, entrepreneurial experiments in organizational and institutional innovation. While ...


Spirituality At Work And Organizational Citizenship Behavior: A Replication Study In Taiwan, Gilbert TAN, Christine KUO, Eugene Zhen Yao GEH 2010 Singapore Management University

Spirituality At Work And Organizational Citizenship Behavior: A Replication Study In Taiwan, Gilbert Tan, Christine Kuo, Eugene Zhen Yao Geh

Research Collection Lee Kong Chian School Of Business

Interest in Management, Spirituality and Religion (MSR) research has surged over the last decade. However, most of the studies are done in the Western context. Tan and Geh’s (2009) is an exception. In Tan and Geh’s study, they provided a theoretical model linking spirituality at work with organizational citizenship behavior (OCB) through organizational commitment as the mediator and tested it empirically. The findings of the study, though exploratory, were interesting. They affirmed the effectiveness of affective commitment as a mediator between spirituality at work and OCB. Normative commitment, however, was not as effective. Their findings also show that ...


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