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Minimum Profitability Ruling A Boon Or Bane? Some Lessons From China, Knowledge@Smu Oct 2007

Minimum Profitability Ruling A Boon Or Bane? Some Lessons From China, Knowledge@Smu

Knowledge@SMU

China’s Securities Regulatory Commission (CSRC) stands out in its approach to tighten restrictions for listed companies wanting to initiate rights issues or seasoned equity offerings (SEOs). The country’s experience, relevant to other emerging markets, is the subject of a research paper published recently in the International Journal of Accounting, co-authored by Kevin C.W. Chen, accounting professor at the Hong Kong University of Science and Technology and Singapore Management University accounting professor Jiwei Wang. --------------------------------------------------------------------------------


Do Direct Cash Flow Disclosures Help Predict Future Operating Cash Flows And Earnings?, Steven Francis Orpurt, Yoonseok Zang Oct 2007

Do Direct Cash Flow Disclosures Help Predict Future Operating Cash Flows And Earnings?, Steven Francis Orpurt, Yoonseok Zang

Research Collection School Of Accountancy

Motivated by recent FASB, IASB and CFA Institute comments, we extend the scant literature on direct method cash flow disclosures by exploring their predictive ability. A primary stated purpose of the direct method is to better forecast future operating performance. To test this purpose, we use a FERC (future ERC) methodology, finding that firms voluntarily producing direct method statements reflect more information about future earnings in their current stock returns than other firms. Supporting our FERC analysis, we document that substantial articulation errors exist when direct method cash flow components are estimated from either indirect method cash flow statements or …


Mining Modal Scenarios From Execution Traces, David Lo, Shahar Maoz, Siau-Cheng Khoo Oct 2007

Mining Modal Scenarios From Execution Traces, David Lo, Shahar Maoz, Siau-Cheng Khoo

Research Collection School Of Computing and Information Systems

Specification mining is a dynamic analysis process aimed at automatically inferring suggested specifications of a program from its execution traces. We describe a method, a framework, and a tool, for mining inter-object scenario-based specifications in the form of a UML2-compliant variant of Damm and Harel's Live Sequence Charts (LSC), which extends the classical partial order semantics of sequence diagrams with temporal liveness and symbolic class level lifelines, in order to generate compact and expressive specifications. Moreover, we use previous research work and tools developed for LSC to visualize, analyze, manipulate, test, and thus evaluate the scenario-based specifications we mine. Our …


Cross-Cultural Differences In Learning And Education: Stereotypes, Myths And Realities, Gerhard Apfelthaler, Katrin Hansen, Stephan Keuchel, Christa Mueller, Martin Neubauer, Siow-Heng Ong, Nirundon Tapachai Oct 2007

Cross-Cultural Differences In Learning And Education: Stereotypes, Myths And Realities, Gerhard Apfelthaler, Katrin Hansen, Stephan Keuchel, Christa Mueller, Martin Neubauer, Siow-Heng Ong, Nirundon Tapachai

Research Collection Lee Kong Chian School Of Business

Despite the fact that both learning styles and cross-cultural differences have been important research topics for decades, surprisingly little work has been done on comparisons of learning behaviour across cultures and its impact for teachers working in culturally mixed settings. This chapter is based on a research project funded by the European Union seeking to provide fresh knowledge on cross-national differences in attitudes towards learning of students from selected countries. It reports on the results from Austria, Germany, Singapore and Thailand and outlines some of the implications for teaching in higher education.


Option-Based Risk Management: A Field Study Of Sequential Information Technology Investment Decisions, Michel Benaroch, Mark Jeffery, Robert John Kauffman, Sandeep Shah Oct 2007

Option-Based Risk Management: A Field Study Of Sequential Information Technology Investment Decisions, Michel Benaroch, Mark Jeffery, Robert John Kauffman, Sandeep Shah

Research Collection School Of Computing and Information Systems

This field study research evaluates the viability of applying an option-based risk management (OBRiM) framework, and its accompanying theoretical perspective and methodology, to real-world sequential information technology (IT) investment problems. These problems involve alternative investment structures that bear different risk profiles for the firm, and also may improve the payoffs of the associated projects and the organization's performance. We sought to surface the costs, benefits, and risks associated with a complex sequential investment setting that has the key features that OBRiM treats. We combine traditional, purchased real options that subsequently create strategic flexibility for the decision maker, with implicit or …


Follow The Leader? Price Change Timing In Internet-Based Selling, R. J. Kauffman, Charles A. Wood Oct 2007

Follow The Leader? Price Change Timing In Internet-Based Selling, R. J. Kauffman, Charles A. Wood

Research Collection School Of Computing and Information Systems

Internet technologies should lessen information asymmetry, prompting competitive price reactions, but this does not seem to be happening in Internet-based selling. We study empirical regularities of price change timing for music CD vendors and booksellers to assess several theoretical explanations. Our sample includes 123, 680 daily prices for 169 products and 53 firms. Bertrand competition is insufficient to explain our observation that sellers do not shift prices this way. Tacitly collusive responses to competitors' price changes are observed rather than price changes solely in response to demand or cost shifts as would be expected with Bertrand competition. We find evidence …


Analyzing Service Usage Patterns: Methodology And Simulation, Qianhui (Althea) Liang, Jen-Yao Chung Oct 2007

Analyzing Service Usage Patterns: Methodology And Simulation, Qianhui (Althea) Liang, Jen-Yao Chung

Research Collection School Of Computing and Information Systems

This paper proposes that service mining technology will power the construction of new business services via both intra- and inter-enterprise service assembly within the Service Oriented Architecture (SOA) framework. We investigate the methodologies of service mining at the component level of service usage. We also demonstrate how mining of service usage patterns is intended to be used to improve different aspects of service composition. Simulation experiments conducted for mining at the component level are analyzed. The processing details within a general service mining deployment are demonstrated.


Norming "Moderation'' In An "Iconic Target'': Public Policy And The Regulation Of Religious Anxieties In Singapore, Eugene K. B. Tan Oct 2007

Norming "Moderation'' In An "Iconic Target'': Public Policy And The Regulation Of Religious Anxieties In Singapore, Eugene K. B. Tan

Research Collection Yong Pung How School Of Law

The proposed research will examine Singapore’s response to terrorism post September 11, in particular the maintenance of a “moderate mainstream” Muslim community as a bulwark against the fraying of harmonious ethnic relations. In light of the global concern—and often paranoia—with diasporic Islam, Islamic religious institutions and civil society have been portrayed in the popular media as hotbeds of radicalism, promoters of hatred, and recruiters for a ‘conflict of civilization’ between the Muslim world and the modern world. Islamist attacks in Madrid and London have since brought increased urgency to the question of how to contain or moderate Islamic radicalism among …


Direction-Of-Change Forecasts Based On Conditional Variance, Skewness And Kurtosis Dynamics: International Evidence, Peter F. Christoffersen, Francis X. Diebold, Roberto S. Mariano, Anthony S. Tay, Yiu Kuen Tse Oct 2007

Direction-Of-Change Forecasts Based On Conditional Variance, Skewness And Kurtosis Dynamics: International Evidence, Peter F. Christoffersen, Francis X. Diebold, Roberto S. Mariano, Anthony S. Tay, Yiu Kuen Tse

Research Collection School Of Economics

Recent theoretical work has revealed a direct connection between asset return volatility forecastability and asset return sign forecastability. This suggests that the pervasive volatility forecastability in equity returns could, via induced sign forecastability, be used to produce direction-of change forecasts useful for market timing. We attempt to do so in an international sample of developed equity markets, with some success, as assessed by formal probability forecast scoring rules such as the Brier score. An important ingredient is our conditioning not only on conditional mean and variance information, but also conditional skewness and kurtosis information, when forming direction-of-change forecasts.


Om-Based Video Shot Retrieval By One-To-One Matching, Yuxin Peng, Chong-Wah Ngo, Jianguo Xiao Oct 2007

Om-Based Video Shot Retrieval By One-To-One Matching, Yuxin Peng, Chong-Wah Ngo, Jianguo Xiao

Research Collection School Of Computing and Information Systems

This paper proposes a new approach for shot-based retrieval by optimal matching (OM), which provides an effective mechanism for the similarity measure and ranking of shots by one-to-one matching. In the proposed approach, a weighted bipartite graph is constructed to model the color similarity between two shots. Then OM based on Kuhn-Munkres algorithm is employed to compute the maximum weight of a constructed bipartite graph as the shot similarity value by one-to-one matching among frames. To improve the speed efficiency of OM, two improved algorithms are also proposed: bipartite graph construction based on subshots and bipartite graph construction based on …


A Multitude Of Opinions: Mining Online Rating Data, Hady Wirawan Lauw, Ee Peng Lim Oct 2007

A Multitude Of Opinions: Mining Online Rating Data, Hady Wirawan Lauw, Ee Peng Lim

Research Collection School Of Computing and Information Systems

Online rating system is a popular feature of Web 2.0 applications. It typically involves a set of reviewers assigning rating scores (based on various evaluation criteria) to a set of objects. We identify two objectives for research on online rating data, namely achieving effective evaluation of objects and learning behaviors of reviewers/objects. These two objectives have conventionally been pursued separately. We argue that the future research direction should focus on the integration of these two objectives, as well as the integration between rating data and other types of data.


Npake+: A Hierarchical Group Password-Authenticated Key Exchange Protocol Using Different Passwords, Zhiguo Wan, Robert H. Deng, Feng Bao, Bart Preneel Oct 2007

Npake+: A Hierarchical Group Password-Authenticated Key Exchange Protocol Using Different Passwords, Zhiguo Wan, Robert H. Deng, Feng Bao, Bart Preneel

Research Collection School Of Computing and Information Systems

Although two-party password-authenticated key exchange (PAKE) protocols have been intensively studied in recent years, group PAKE protocols have received little attention. In this paper, we propose a hierarchical group PAKE protocol nPAKE+ protocol under the setting where each party shares an independent password with a trusted server. The nPAKE+ protocol is a novel combination of the hierarchical key tree structure and the password-based Diffie-Hellman exchange, and hence it achieves substantial gain in computation efficiency. In particular, the computation cost for each client in our protocol is only O(logn). Additionally, the hierarchical feature of nPAKE+ enables every subgroup obtains their own …


Sketchwizard: Wizard Of Oz Prototyping Of Pen-Based User Interfaces, Richard C. Davis, T. Scott Saponas, Michael Shilman, James A. Landay Oct 2007

Sketchwizard: Wizard Of Oz Prototyping Of Pen-Based User Interfaces, Richard C. Davis, T. Scott Saponas, Michael Shilman, James A. Landay

Research Collection School Of Computing and Information Systems

SketchWizard allows designers to create Wizard of Oz prototypes of pen-based user interfaces in the early stages of design. In the past, designers have been inhibited from participating in the design of pen-based interfaces because of the inadequacy of paper prototypes and the difficulty of developing functional prototypes. In SketchWizard, designers and end users share a drawing canvas between two computers, allowing the designer to simulate the behavior of recognition or other technologies. Special editing features are provided to help designers respond quickly to end-user input. This paper describes the SketchWizard system and presents two evaluations of our approach. The …


Research And Development Project Valuation And Licensing Negotiations At Phytopharm Plc, Pascale Crama, Bert De Reyck, Zeger Degraeve, Wang Chong Oct 2007

Research And Development Project Valuation And Licensing Negotiations At Phytopharm Plc, Pascale Crama, Bert De Reyck, Zeger Degraeve, Wang Chong

Research Collection Lee Kong Chian School Of Business

We describe a research and development project-valuation model developed for Phytopharm plc, a pharmaceutical development and functional food company based in Cambridgeshire, United Kingdom. Phytopharm uses the model to value the projects in its research and development portfolio, and in licensing negotiations with potential product development and marketing partners. We include different valuation methods, including net present value, decision analysis, and Monte Carlo simulation. We also consider the technological risks of product development, as well as the uncertainty of commercial success. In addition to determining a value for a product in development, the model proposes appropriate licensing contract structures. A …


Forecasting In Rapidly Changing Environments: An Application To The Us Motion Picture Industry, Anirban Mukherjee, Kadiyali Vrinda Oct 2007

Forecasting In Rapidly Changing Environments: An Application To The Us Motion Picture Industry, Anirban Mukherjee, Kadiyali Vrinda

Research Collection Lee Kong Chian School Of Business

Markets with rapidly changing environments provide forecasting challenges because of fewer similarities between past and future outcomes. In this paper, we provide a methodology that enables forecasting with relatively short histories. The application is to the U.S. motion picture industry where we forecast revenues in theatrical, sales (DVD and VHS), and rental channels. Using short market histories of similar products, we account for (1) observed and unobserved movie-specific characteristics, (2) seasonality of demand, (3) competition within and across multiple distribution channels (4) market expansion, substitution and complementarity between movies inside and across distribution channels. We extend the multiplicative competitive interaction …


No Zero Sum Game Between The Evolving Role Of The State And Market Forces In China, Knowledge@Smu Sep 2007

No Zero Sum Game Between The Evolving Role Of The State And Market Forces In China, Knowledge@Smu

Knowledge@SMU

Is China’s remarkable economic progress a success story of market forces triumphing over the state in lifting millions out of poverty? Singapore Management University political science professor John Donaldson presents the case that, even as China underwent market reforms and emerged with impressive results, the role of the state did not diminish but shifted to other vital tasks and functions to facilitate and alter market forces. He also argues that, in this country of over 1.3 billion people, economic growth alone does not necessarily lead to poverty reduction.


Perspectives On Terrorism: Storytelling Versus Rationalisation, Knowledge@Smu Sep 2007

Perspectives On Terrorism: Storytelling Versus Rationalisation, Knowledge@Smu

Knowledge@SMU

Since the events of 9/11, ordinary people and governments are struggling more than ever to make sense of the seemingly senseless acts of terrorists that threaten nearly all countries, directly or indirectly. Singapore Management University philosophy professor Thomas Brian Mooney is coauthor, along with Rob Imre and Ben Clarke, of a new book, Terrorism, Causes and Cures: Legal, Political and Philosophical Perspectives, to be published later this year by Ashgate Press. Mooney talks to Knowledge@SMU about the importance of “storytelling”, as compared with adopting a purely rational approach, to help understand the causes of terrorism.


How Do Word-Of-Mouth Reviews Affect Product Sales? Applying The Stock Market Analogy To Online Stores, Knowledge@Smu Sep 2007

How Do Word-Of-Mouth Reviews Affect Product Sales? Applying The Stock Market Analogy To Online Stores, Knowledge@Smu

Knowledge@SMU

Online word-of-mouth communication -- such as product reviews by consumers -- has become a major information source about product quality. Singapore Management University information systems professor Nan Hu and his team investigated both quantitative and qualitative aspects of online reviews using Amazon.com as their study base. They found that, besides review scores, consumers do pay attention to other contextual information such as a reviewer’s reputation and exposure. Hu’s research also showed that the longer an item is on the market, the smaller the impact of online reviews on sales.


Un-Balanced Economic Growth, Hing-Man Leung Sep 2007

Un-Balanced Economic Growth, Hing-Man Leung

Research Collection School Of Economics

Since the elasticity of substitution between capital and labor is not always one, and since technical progress is not always Harrod-neutral, it is desirable to have an endogenous growth model that admits all sizes of the elasticity and all known technology modes. We derive an equation to do just that, fully describing the per capita income growth rate at all times. It shows a typical economy needing hundreds if not thousands of years to reach its long term growth rate, leading to the conclusion that even the short run may be very long indeed.


Should China Keep Its Dollar Peg? Some Parallels From Japan, Knowledge@Smu Sep 2007

Should China Keep Its Dollar Peg? Some Parallels From Japan, Knowledge@Smu

Knowledge@SMU

At a recent Singapore Management University School of Economics Distinguished Lecture, Stanford University international economics professor Ronald I. McKinnon warned of a possible ‘lost decade’ of falling price levels and undesirably low interest rates in China, similar to those experienced by Japan in the 1990s. McKinnon draws parallels between Japan in the late 1980s and present day China in his paper entitled “Why China Should Keep its Exchange Rate Pegged to the Dollar: A Historical Perspective from Japan”. --------------------------------------------------------------------------------


Rushes Video Summarization By Object And Event Understanding, Feng Wang, Chong-Wah Ngo Sep 2007

Rushes Video Summarization By Object And Event Understanding, Feng Wang, Chong-Wah Ngo

Research Collection School Of Computing and Information Systems

This paper explores a variety of visual and audio analysis techniques in selecting the most representative video clips for rushes summarization at TRECVID 2007. These techniques include object detection, camera motion estimation, keypoint matching and tracking, audio classification and speech recognition. Our system is composed of two major steps. First, based on video structuring, we filter undesirable shots and minimize the inter-shot redundancy by repetitive shot detection. Second, a representability measure is proposed to model the presence of objects and four audio-visual events: motion activity of objects, camera motion, scene changes, and speech content, in a video clip. The video …


Ontology-Enriched Semantic Space For Video Search, Xiao-Yong Wei, Chong-Wah Ngo Sep 2007

Ontology-Enriched Semantic Space For Video Search, Xiao-Yong Wei, Chong-Wah Ngo

Research Collection School Of Computing and Information Systems

Multimedia-based ontology construction and reasoning have recently been recognized as two important issues in video search, particularly for bridging semantic gap. The lack of coincidence between low-level features and user expectation makes concept-based ontology reasoning an attractive midlevel framework for interpreting high-level semantics. In this paper, we propose a novel model, namely ontology-enriched semantic space (OSS), to provide a computable platform for modeling and reasoning concepts in a linear space. OSS enlightens the possibility of answering conceptual questions such as a high coverage of semantic space with minimal set of concepts, and the set of concepts to be developed for …


Taking Stock Of The Creative Commons Experiment: Monitoring The Use Of Creative Commons Licenses And Evaluating Its Implications For The Future Of Creative Commons And For Copyright Law, Giorgos Cheliotis, Warren B. Chik, Ankit Guglani, Giri Kumar Tayi Sep 2007

Taking Stock Of The Creative Commons Experiment: Monitoring The Use Of Creative Commons Licenses And Evaluating Its Implications For The Future Of Creative Commons And For Copyright Law, Giorgos Cheliotis, Warren B. Chik, Ankit Guglani, Giri Kumar Tayi

Research Collection Yong Pung How School Of Law

We provide an analysis of the use of Creative Commons (CC) licenses, an approach to licens-ing creative works which has become very popular among authors who wish to promote more liberal sharing and use of their work. We provide data demonstrating the popularity of CC, ex-amine which specific license types within the CC framework are most popular, and then iden-tify contributing factors for the relative popularity of some of the license types. This includes in-dividual author incentives, the consistency and aims of the online communities which adopt CC as a licensing model, the underlying medium (text, photography, audio, video or …


Practical Elimination Of Near-Duplicates From Web Video Search, Xiao Wu, Alexander G. Hauptmann, Chong-Wah Ngo Sep 2007

Practical Elimination Of Near-Duplicates From Web Video Search, Xiao Wu, Alexander G. Hauptmann, Chong-Wah Ngo

Research Collection School Of Computing and Information Systems

Current web video search results rely exclusively on text keywords or user-supplied tags. A search on typical popular video often returns many duplicate and near-duplicate videos in the top results. This paper outlines ways to cluster and filter out the nearduplicate video using a hierarchical approach. Initial triage is performed using fast signatures derived from color histograms. Only when a video cannot be clearly classified as novel or nearduplicate using global signatures, we apply a more expensive local feature based near-duplicate detection which provides very accurate duplicate analysis through more costly computation. The results of 24 queries in a data …


Anonymous And Authenticated Key Exchange For Roaming Networks, Guomin Yang, Duncan S. Wong, Xiaotie Deng Sep 2007

Anonymous And Authenticated Key Exchange For Roaming Networks, Guomin Yang, Duncan S. Wong, Xiaotie Deng

Research Collection School Of Computing and Information Systems

User privacy is a notable security issue in wireless communications. It concerns about user identities from being exposed and user movements and whereabouts from being tracked. The concern of user privacy is particularly signified in systems which support roaming when users are able to hop across networks administered by different operators. In this paper, we propose a novel construction approach of anonymous and authenticated key exchange protocols for a roaming user and a visiting server to establish a random session key in such a way that the visiting server authenticates the user's home server without knowing exactly who the user …


Deception In Cyberspace: A Comparison Of Text-Only Vs. Avatar-Supported Medium, Holtjona Galanxhi, Fiona Fui-Hoon Nah Sep 2007

Deception In Cyberspace: A Comparison Of Text-Only Vs. Avatar-Supported Medium, Holtjona Galanxhi, Fiona Fui-Hoon Nah

Research Collection School Of Computing and Information Systems

The use of anthropomorphic avatars provides Internet users the opportunity and freedom to manipulate their identity. As cyberspace becomes a haven for deceptive behavior, human–computer interaction research will need to be carried out to study and understand these deceptive behaviors. The objective of this research is to investigate the behavior of deceivers and non-deceivers (or truth-tellers) in the cyberspace environment. We examine if the intention to deceive others influences one's choice of avatars in the online chat environment. We also investigate if communication medium (text-only vs. avatar-supported chat) influences one's perception of trustworthiness of the communication partner. A lab experiment …


A Self-Motives Perspective On Feedback-Seeking Behavior: Linking Organizational Behavior And Social Psychology Research, Frederick Anseel, Filip Lievens, Paul E. Levy Sep 2007

A Self-Motives Perspective On Feedback-Seeking Behavior: Linking Organizational Behavior And Social Psychology Research, Frederick Anseel, Filip Lievens, Paul E. Levy

Research Collection Lee Kong Chian School Of Business

Both the feedback-seeking literature in management and the self-motives domain in social psychology have focused on how motives affect the way in which people acquire information for self-evaluation purposes. Despite apparent conceptual similarities, the implications of research in these domains have not been fully integrated. This paper aims to link research on feedback-seeking behavior to recent theoretical developments in social psychology. First, the current perspective in management on feedback-seeking motives is depicted. Second, a well-established framework of self-motives in social psychology is introduced. Third, similarities and differences between these two motivational perspectives are discussed and a first step towards integration …


Job Satisfaction As Mediator: An Assessment Of Job Satisfaction's Position Within The Nomological Network, Marcus Crede, Oleksandr S. Chernyshenko, Stephen Stark, Reeshad S. Dalal, Michael R. Bashshur Sep 2007

Job Satisfaction As Mediator: An Assessment Of Job Satisfaction's Position Within The Nomological Network, Marcus Crede, Oleksandr S. Chernyshenko, Stephen Stark, Reeshad S. Dalal, Michael R. Bashshur

Research Collection Lee Kong Chian School Of Business

Job satisfaction's position within the nomological network and the mechanism outlined by theories of social exchange suggest that job satisfaction functions as a mediator of the relationship between various antecedent variables and volitional workplace behaviours. We extend social exchange theory to include perceptions of the total job situation and develop a model that positions job satisfaction as a mediator of the relationships between various internal and external antecedent variables, and three volitional workplace behaviours: citizenship behaviours, counterproductive workplace behaviours, and job withdrawal. The fit of a fully mediated model is good and all four classes of antecedents (dispositions, workplace events, …


Difference Computation Of Large Models, Christoph Treude, Stefan Berlik, Sven Wenzel, Udo Kelter Sep 2007

Difference Computation Of Large Models, Christoph Treude, Stefan Berlik, Sven Wenzel, Udo Kelter

Research Collection School Of Computing and Information Systems

Modern software engineering practices lead to large models which exist in many versions. Version management systems should offer a service to compare, and possibly merge, these models. The computation of a difference between large models is a big challenge; current algorithms are too inefficient here. We present a new technique for computing differences between models. In practical tests, this technique has been an order of magnitude faster than currently known algorithms. The main idea is to use a high-dimensional search tree for efficiently finding similar model elements. Individual elements are mapped onto a vector of numerical values using a collection …


Globally Distributed Software Development Project Performance: An Empirical Analysis, Narayanasamy Ramasubbu, Rajesh Krishna Balan Sep 2007

Globally Distributed Software Development Project Performance: An Empirical Analysis, Narayanasamy Ramasubbu, Rajesh Krishna Balan

Research Collection School Of Computing and Information Systems

Software firms are increasingly distributing their software development effort across multiple locations. In this paper we present the results of a two year field study that investigated the effects of dispersion on the productivity and quality of distributed software development. We first develop a model of distributed software development. We then use the model, along with our empirically observed data, to understand the consequences of dispersion on software project performance. Our analysis reveals that, even in high process maturity environments, a) dispersion significantly reduces development productivity and has effects on conformance quality, and b) these negative effects of dispersion can …