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Justice Climate, Past, Present And Future: Models Of Structure And Emergence, Deborah E. Rupp, Michael R. Bashshur, Hui Liao Jan 2007

Justice Climate, Past, Present And Future: Models Of Structure And Emergence, Deborah E. Rupp, Michael R. Bashshur, Hui Liao

Research Collection Lee Kong Chian School Of Business

This chapter reviews research on multi-level organizational justice. The first half of the chapter provides the historical context for this issue, discusses organizational-level antecedents to individual-level justice perceptions (i.e., culture and organizational structure), and then focuses on the study of justice climate. A summary model depicts the justice climate findings to date and gives recommendations for future research. The second half of the chapter discusses the process of justice climate emergence. Pulling from classical bottom-up and top-down climate emergence models as well as contemporary justice theory, it outlines a theoretical model whereby individual differences and environmental characteristics interact to influence …

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When Can Employees Have A Family Life? The Effects Of Daily Workload And Affect On Work-Family Conflict And Social Behaviors At Home, R. Ilies, K. M. Schwind, David Turley Wagner, M. Johnson, D. S. Derue, D. R. Ilgen Jan 2007

When Can Employees Have A Family Life? The Effects Of Daily Workload And Affect On Work-Family Conflict And Social Behaviors At Home, R. Ilies, K. M. Schwind, David Turley Wagner, M. Johnson, D. S. Derue, D. R. Ilgen

Research Collection Lee Kong Chian School Of Business

This article presents a longitudinal examination of antecedents and outcomes of work-to-family conflict. A total of 106 employees participating in an experience-sampling study were asked to respond to daily surveys both at work and at home, and their spouses were interviewed daily via telephone for a period of 2 weeks. Intraindividual analyses revealed that employees' perceptions of workload predicted work-to-family conflict over time, even when controlling for the number of hours spent at work. Workload also influenced affect at work, which in turn influenced affect at home. Finally, perhaps the most interesting finding in this study was that employees' behaviors …

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What's Ahead For 2007? Knowledge@Wharton Network Surveys The Globe, Knowledge@Smu Dec 2006

What's Ahead For 2007? Knowledge@Wharton Network Surveys The Globe, Knowledge@Smu

Knowledge@SMU

On the financial front, 2006 has been a pretty good year all around. Stock markets in many countries have rallied, energy prices have fallen, inflation is relatively low and growth in GDP ranges from respectable to robust. But the economies of most countries also face a number of threats -- some predictable, some not -- that could derail recent gains in our increasingly connected global markets. What's ahead for 2007 in the U.S., India, Europe, Latin America, China and other parts of the world? We offer a roundup of reports from the Knowledge@Wharton Network, including India Knowledge@Wharton, Universia Knowledge@Wharton and …

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How And Why Chinese Firms Excel In 'The Art Of Price War', Knowledge@Smu Dec 2006

How And Why Chinese Firms Excel In 'The Art Of Price War', Knowledge@Smu

Knowledge@SMU

When it comes to price wars, Wharton marketing professor Z. John Zhang can't help but notice that companies in the West and companies in China are quite literally worlds apart. In the West, Zhang says, the outbreak of a price war is viewed as the failure of managerial rationality. In China, the outbreak of a price war is considered a legitimate and effective business strategy. In a recent paper, Zhang and Dongsheng Zhou, a marketing professor at the China Europe International Business School in Shanghai, analyze two price wars that took place in China in the mid-1990s.

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The Singapore 'Advantage' In Suzhou, China: Premium Or Perception?, Caroline Yeoh, Di Kun Goh, Victor Sim, Norhanna Yumi Dec 2006

The Singapore 'Advantage' In Suzhou, China: Premium Or Perception?, Caroline Yeoh, Di Kun Goh, Victor Sim, Norhanna Yumi

Research Collection Lee Kong Chian School Of Business

This paper revisits Singapore’s industrial development in Suzhou, China, which has been in operation for more than a decade. We aim to glean insights from this experiment and more importantly, to verify recent claims of it generating political gain and economic capital for Singapore. The flagship project took on an identical framework as the other Singaporean transborder industrialization ventures in the region by adopting Singapore’s expertise and reputation for an efficient and stable government and investment environment. These measures were coupled with the combination of local-specific advantages in the region, such as availability of cheaper labour and market access. Singapore’s …

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Simulation-Based Estimation Of Contingent-Claims Prices, Peter C. B. Phillips, Jun Yu Dec 2006

Simulation-Based Estimation Of Contingent-Claims Prices, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

A new methodology is proposed to estimate theortical prices of financial contingent-claims whose values are dependent on some other underlying financial assets. In the literature the preferred choice of estimator is usually maximum likelihood (ML). ML has strong asymptotic justification but is not necessarily the best method in finite samples. The present paper proposes instead a simulation-based method that improves the finite sample performance of the ML estimator while maintaining its good asymptotic properties. The methods are implemented and evaluated here in the Black-Scholes option pricing model and in the Vasicek bond pricing model, but have wider applicability. Monte Carlo …

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Indirect Inference For Dynamic Panel Models, Christian Gourieroux, Peter C. B. Phillips, Jun Yu Dec 2006

Indirect Inference For Dynamic Panel Models, Christian Gourieroux, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

It is well-known that maximum likelihood (ML) estimation of the autoregressive parameter of a dynamic panel data model with fixed effects is inconsistent under fixed time series sample size (T) and large cross section sample size (N) asymptotics. The estimation bias is particularly relevant in practical applications when T is small and the autoregressive parameter is close to unity. The present paper proposes a general, computationally inexpensive method of bias reduction that is based on indirect inference (Gouriéroux et al., 1993), shows unbiasedness and analyzes efficiency. The method is implemented in a simple linear dynamic panel model, but has wider …

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Insider Trading And Voluntary Disclosures, Qiang Cheng, Kin Lo Dec 2006

Insider Trading And Voluntary Disclosures, Qiang Cheng, Kin Lo

Research Collection School Of Accountancy

We hypothesize that insiders strategically choose disclosure policies and the timing of their equity trades to maximize trading profits, subject to the litigation costs associated with disclosure and insider trading. Accounting for endogeneity between disclosures and trading, we find that when managers plan to purchase shares, they increase the number of bad news forecasts to reduce the purchase price. In addition, this relation is stronger for trades initiated by chief executive officers than for those initiated by other executives. Confirming this strategic behavior, we find that managers successfully time their trades around bad news forecasts, buying fewer shares beforehand and …

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Implication Of Comprehensive Income Disclosure For Future Earnings And Analysts' Forecasts, Jong-Hag Choi, Yoonseok Zang Dec 2006

Implication Of Comprehensive Income Disclosure For Future Earnings And Analysts' Forecasts, Jong-Hag Choi, Yoonseok Zang

Research Collection School Of Accountancy

This paper examines the association of comprehensive income with subsequent period net income as well as analysts’ earnings forecasts. Our results support the notion that comprehensive income is incrementally useful in predicting subsequent period changes in net income. We also document that comprehensive income is associated with analysts’ earnings forecast revisions and forecast errors. The evidence is consistent with analysts’ failure to fully utilize the information disclosed in comprehensive income. The result suggests that analysts revise their year t+1’s forecast downward when comprehensive income is smaller than net income but they do not revise the forecast upward when comprehensive income …

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The Association Between Earnings Quality And Regulatory Report Opinions In The Accounting Industry, Tracey Chunqi Zhang, Katherine Gunny Dec 2006

The Association Between Earnings Quality And Regulatory Report Opinions In The Accounting Industry, Tracey Chunqi Zhang, Katherine Gunny

Research Collection School Of Accountancy

We compare the outcome of two different information systems – self regulation versus private sector regulation – in the accounting industry. Under the Sarbanes-Oxley Act, Public Company Accounting Oversight Board (PCAOB) inspections replaced American Institute of Certified Public Accountants (AICPA) peer reviews of auditors. Peer review opinions are useful with respect to decisions about hiring and firing of auditors (Hilary and Lennox, 2005); therefore, the question remains what are the benefits of incurring the cost to replace a selfregulatory system with a private regulatory agency. We examine the usefulness of these two information systems at distinguishing earnings quality at firms …

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Escalation And De-Escalation Of Commitment To Information Systems Projects: Insights From An Approach-Avoidance Process Model, Gary Pan, Shan Ling Pan Dec 2006

Escalation And De-Escalation Of Commitment To Information Systems Projects: Insights From An Approach-Avoidance Process Model, Gary Pan, Shan Ling Pan

Research Collection School Of Accountancy

We view escalation and de-escalation of commitment as processes involving recurring instances of approach-avoidance conflict. This paper outlines an approach-avoidance process model for describing and analyzing escalation and de-escalation of commitment in information systems projects. In the model, the sequential mapping of project events is integrated with a model of approach-avoidance conflict that identifies periods of gradual evolution at two separate levels of social analysis (project and work) that are punctuated by sudden, revolutionary periods of rapid change. By conceiving the processes of commitment escalation and de-escalation as sequences of events involving approach-avoidance conflicts, researchers may develop a deeper understanding …

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Clique Percolation For Finding Naturally Cohesive And Overlapping Document Clusters, Wei Gao, Kam-Fai Wong, Yunqing Xia, Ruifeng Xu Dec 2006

Clique Percolation For Finding Naturally Cohesive And Overlapping Document Clusters, Wei Gao, Kam-Fai Wong, Yunqing Xia, Ruifeng Xu

Research Collection School Of Computing and Information Systems

Techniques for find document clusters mostly depend on models that impose strong explicit and/or implicit priori assumptions. As a consequence, the clustering effects tend to be unnatural and stray away from the intrinsic grouping natures of a document collection. We apply a novel graph-theoretic technique called Clique Percolation Method (CPM) for document clustering. In this method, a process of enumerating highly cohesive maximal document cliques is performed in a random graph, where those strongly adjacent cliques are mingled to form naturally overlapping clusters. Our clustering results can unveil the inherent structural connections of the underlying data. Experiments show that CPM …

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Towards Effective Content-Based Music Retrieval With Multiple Acoustic Feature Combination, Jialie Shen, John Shepherd, Ann H. H. Ngu Dec 2006

Towards Effective Content-Based Music Retrieval With Multiple Acoustic Feature Combination, Jialie Shen, John Shepherd, Ann H. H. Ngu

Research Collection School Of Computing and Information Systems

In this paper, we present a new approach to constructing music descriptors to support efficient content-based music retrieval and classification. The system applies multiple musical properties combined with a hybrid architecture based on principal component analysis (PCA) and a multilayer perceptron neural network. This architecture enables straightforward incorporation of multiple musical feature vectors, based on properties such as timbral texture, pitch, and rhythm structure, into a single low-dimensioned vector that is more effective for classification than the larger individual feature vectors. The use of supervised training enables incorporation of human musical perception that further enhances the classification process. We compare …

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Rapid Identification Of Column Heterogeneity, Bing Tian Dai, Nick Koudas, Beng Chin Ooi, Divesh Srivastava, Suresh Venkatasubramanian Dec 2006

Rapid Identification Of Column Heterogeneity, Bing Tian Dai, Nick Koudas, Beng Chin Ooi, Divesh Srivastava, Suresh Venkatasubramanian

Research Collection School Of Computing and Information Systems

No abstract provided.

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Online Advertising By The Comparison Challenge Approach, Jae Wong Lee, Jae Kyu Lee Dec 2006

Online Advertising By The Comparison Challenge Approach, Jae Wong Lee, Jae Kyu Lee

Research Collection School Of Computing and Information Systems

To enhance the effectiveness of online comparisons from a manufacturer's point of view, we develop a framework for the comparison challenge approach. To develop the comparison challenge framework, we analyze 12 factors that determine the characteristics of comparison and propose models of valuable comparison challenges using the CompareMe and CompareThem strategies. We demonstrate the approaches with the example of PC selection. To help plan the comparison challenges, we formulate a mathematical programming model that maximizes the total value of comparison under the constraints of comparison opportunity and budgetary limitation. The model is applied to eight comparison scenarios, and its performance …

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On The Lower Bound Of Local Optimums In K-Means Algorithms, Zhenjie Zhang, Bing Tian Dai, Anthony K.H. Tung Dec 2006

On The Lower Bound Of Local Optimums In K-Means Algorithms, Zhenjie Zhang, Bing Tian Dai, Anthony K.H. Tung

Research Collection School Of Computing and Information Systems

No abstract provided.

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The Effect Of The Options Backdating Scandal On The Stock-Price Performance Of 110 Accused Companies, Gennaro Bernile, Gregg A. Jarrell, Howard Mulcahey Dec 2006

The Effect Of The Options Backdating Scandal On The Stock-Price Performance Of 110 Accused Companies, Gennaro Bernile, Gregg A. Jarrell, Howard Mulcahey

Research Collection Lee Kong Chian School Of Business

Since academic scholars and the Wall Street Journal reported widespread evidence indicating that option grants to executives were backdated, an avalanche of news stories followed documenting this ever-widening corporate scandal. In this study we ask: "How do disclosures of backdating affect shareholder value?" We closely examine 110 companies listed in the Wall Street Journal's Perfect Payday webpage, collecting all news stories related to options backdating. We find that shareholders of these 110 companies suffer on average significant stock-price declines, ranging between 20% and 50%. Moreover, these losses do not seem to be due to temporary overreactions (at least so far). …

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Certainty As A Moderator Of Feedback Reactions? A Test Of The Strength Of The Self-Verification Motive, Frederik Anseel, Filip Lievens Dec 2006

Certainty As A Moderator Of Feedback Reactions? A Test Of The Strength Of The Self-Verification Motive, Frederik Anseel, Filip Lievens

Research Collection Lee Kong Chian School Of Business

The present study investigated whether employees are merely interested in hearing good news about themselves, as predicted by self-enhancement theory, or are more interested in feedback that confirms their self-concept, as predicted by self-verification theory. We examined in a field study whether self-view certainty serves as a moderator and strengthens the effect of congruence between individuals' self-views and the performance feedback they receive about these self-views on feedback reactions. Polynomial regression results revealed that people mainly reacted favourably to positive feedback. Prior self-views did not play a key role in explaining feedback reactions. As feedback scores were the main determinant …

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Reiterated Commemoration: Hiroshima As National Trauma, Hiro Saito Dec 2006

Reiterated Commemoration: Hiroshima As National Trauma, Hiro Saito

Research Collection School of Social Sciences

This article examines historical transformations of Japanese collective memory of the atomic bombing of Hiroshima by utilizing a theoretical framework that combines a model of reiterated problem solving and a theory of cultural trauma. I illustrate how the event of the nuclear fallout in March 1954 allowed actors to consolidate previously fragmented commemorative practices into a master frame to define the postwar Japanese identity in terms of transnational commemoration of "Hiroshima." I also show that nationalization of trauma of "Hiroshima" involved a shift from pity to sympathy in structures of feeling about the event. This historical study suggests that a …

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Love, Work, And Changes In Extraversion And Neuroticism Over Time, Christie N. Scollon, Ed Diener Dec 2006

Love, Work, And Changes In Extraversion And Neuroticism Over Time, Christie N. Scollon, Ed Diener

Research Collection School of Social Sciences

The present study examined individual differences in change in extraversion, neuroticism, and work and relationship satisfaction. Of particular interest were the correlations between changes. Data were from the Victorian Quality of Life Panel Study (B. Headey & A. Wearing, 1989, 1992), in which an overall 1,130 individuals participated (ages 16 to 70). Respondents were assessed every 2 years from 1981 to 1989. Four major findings emerged. (a) There were significant individual differences in changes in extraversion and neuroticism. (b) change was not limited to young adulthood. (c) Development was systematic in that increased work and relationship satisfaction was associated with …

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Managing News In A Managed Media: Mediating The Message In Malaysiakini.Com, Augustine Pang Dec 2006

Managing News In A Managed Media: Mediating The Message In Malaysiakini.Com, Augustine Pang

Research Collection Lee Kong Chian School Of Business

Widely regarded as an anomaly in the neo-authoritarian system in Malaysia, Malaysiakini.com is proving that managing an independent media in a government-managed media landscape is more than a Sisyphean struggle. Employing participant observation and interviews, supplemented by artifacts and media accounts, this study seeks to understand the media management of Malaysiakini.com through news management, using Shoemaker and Reese’s (1996) hierarchy of influence model, which posits a framework of internal and external forces that affect news management. The study found determined attempts to minimize ideological influences through media socialization by accentuating on the direct influences, such as the journalists’ role in …

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A Framework For Supplier Relationship Management (Srm), Sabine Moeller, Martin Fassnacht, Sonja Klose Dec 2006

A Framework For Supplier Relationship Management (Srm), Sabine Moeller, Martin Fassnacht, Sonja Klose

Research Collection Lee Kong Chian School Of Business

We perceive growing expectations concerning the impact of the purchasing function and the suppliers on overall value creation of a firm. Purchasing is the gateway between the external suppliers and the internal functions creating and delivering value for customers. This shift has incredibly enhanced the importance of the supplier base. While the old arm length collaboration is perfectly suitable for some suppliers others should be treated as close partners. However, an overall framework of Supplier Relationship Management (SRM) integrating such different types of suppliers along the course of the relationship remains desirable. Our research aims to contribute by developing a …

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Environmental And Resource Management Under Myopia, Tomoki Fujii Dec 2006

Environmental And Resource Management Under Myopia, Tomoki Fujii

Research Collection School Of Economics

Myopia is important in environmental and resource management problems because they often involve intertemporal decisions over a long time horizon. We present a parsimonious extension of standard dynamic programming equation in a continuous time and continuous state setting, which enables rich description of myopic behavior. In our model, the process of planning future controls and choosing current control are clearly distinguished. We Illustrate the behavior of various types of myopic agents with a simple example of non-renewable resource extraction, and discuss the policy relevance of the expiry of extraction permits to resource management under Myopia.

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Campaign Tactics And Citizens' Electoral Decisions, Massimiliano Landi, Chun Seng Yip Dec 2006

Campaign Tactics And Citizens' Electoral Decisions, Massimiliano Landi, Chun Seng Yip

Research Collection School Of Economics

This paper considers how electoral competition affects voters’ turnout and candidate choice. We do so via an instrumental-variable (IV) bivariate probit with selection which jointly estimates both processes. Our analysis controls for individual and election characteristics, campaigning, and election day weather. We focus on the effects of negative advertising (tone) and overall spending (intensity) on several aspects of voter behavior, including abstentions. Our findings: tone increases turnout of Independents only, and can strengthen partisanship among non-voters. Campaign intensity matters more than tone. Overall, there is evidence that Democrats, Independents and Republicans have different propensities to react to campaigning, which do …

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A Two-Stage Realized Volatility Approach To Estimation Of Diffusion Processes With Discrete Data, Peter C. B. Phillips, Jun Yu Dec 2006

A Two-Stage Realized Volatility Approach To Estimation Of Diffusion Processes With Discrete Data, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

This paper motivates and introduces a two-stage method of estimating diffusion processes based on discretely sampled observations. In the first stage we make use of the feasible central limit theory for realized volatility, as developed in [Jacod, J., 1994] and [Barndorff-Nielsen, O., Shephard, N., 2002], to provide a regression model for estimating the parameters in the diffusion function. In the second stage, the in-fill likelihood function is derived by means of the Girsanov theorem and then used to estimate the parameters in the drift function. Consistency and asymptotic distribution theory for these estimates are established in various contexts. The finite …

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Maximum Likelihood And Gaussian Estimation Of Continuous Time Models In Finance, Peter C. B. Phillips, Jun Yu Dec 2006

Maximum Likelihood And Gaussian Estimation Of Continuous Time Models In Finance, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

This paper overviews maximum likelihood and Gaussian methods of estimating continuous time models used in finance. Since the exact likelihood can be constructed only in special cases, much attention has been devoted to the development of methods designed to approximate the likelihood. These approaches range from crude Euler-type approximations and higher order stochastic Taylor series expansions to more complex polynomial-based expansions and infill approximations to the likelihood based on a continuous time data record. The methods are discussed, their properties are outlined and their relative finite sample performance compared in a simulation experiment with the nonlinear CIR diffusion model, which …

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Mixing Frequencies: Stock Returns As A Predictor Of Real Output Growth, Anthony S. Tay Dec 2006

Mixing Frequencies: Stock Returns As A Predictor Of Real Output Growth, Anthony S. Tay

Research Collection School Of Economics

We investigate two methods for using daily stock returns to forecast, and update forecasts of, quarterly real output growth. Both methods aggregate daily returns in some manner to form a single stock market variable. We consider (i) augmenting the quarterly AR(1) model for real output growth with daily returns using a nonparametric Mixed Data Sampling (MIDAS) setting, and (ii) augmenting the quarterly AR(1) model with the most recent r -day returns as an additional predictor. We find that our mixed frequency models perform well in forecasting real output growth.

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Multivariate Stochastic Volatility, Manabu Asai, Michael Mcaleer, Jun Yu Dec 2006

Multivariate Stochastic Volatility, Manabu Asai, Michael Mcaleer, Jun Yu

Research Collection School Of Economics

The literature on multivariate stochastic volatility (MSV) models has developed significantly over the last few years. This paper reviews the substantial literature on specification, estimation and evaluation of MSV models. A wide range of MSV models is presented according to various categories, namely (i) asymmetric models; (ii) factor models; (iii) time-varying correlation models; and (iv) alternative MSV specifications, including models based on the matrix exponential transformation, Cholesky decomposition, Wishart autoregressive process, and the empirical range. Alternative methods of estimation, including quasi-maximum likelihood, simulated maximum likelihood, Monte Carlo likelihood, and Markov chain Monte Carlo methods, are discussed and compared. Various methods …

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Household Heterogeneity And Optimal Inter-Temporal Pricing For A Durable-Good Monopoly, Winston T. H. Koh Dec 2006

Household Heterogeneity And Optimal Inter-Temporal Pricing For A Durable-Good Monopoly, Winston T. H. Koh

Research Collection School Of Economics

In this paper, I extend the analysis in Koh (2006) to examine the optimality of inter-temporal price discrimination for a durable-good monopoly in a model where infinitely-lived households consume both durable goods and a stream of non-durable goods subject to different inter-temporal budget constraints. I also consider the multi-dimensional setting where households differ in both inter-temporal budget constraints and the utilities they derive from the consumption of the durable good.

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Designing Web Sites For Customer Loyalty Across Business Domains: A Multilevel Analysis, S. Mithas, Narayanasamy Ramasubbu, M. S. Krishnan, C. Fornell Dec 2006

Designing Web Sites For Customer Loyalty Across Business Domains: A Multilevel Analysis, S. Mithas, Narayanasamy Ramasubbu, M. S. Krishnan, C. Fornell

Research Collection School Of Computing and Information Systems

Web Sites are important components of Internet strategy for organizations. This paper develops a theoretical model for understanding the effect of Web site design elements on customer loyalty to a Web site. We show the relevance of the business domain of a Web site to gain a contextual understanding of relative importance of Web site design elements. We use a hierarchical linear modeling approach to model multilevel and cross-level interactions that have not been explicitly considered in previous research. By analyzing, data on more than 12,000 online customer surveys for 43 Web sites in several business domains, we find that …

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