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Articles 1 - 30 of 108
Full-Text Articles in Business
Lee Kong Chian School Of Business Year In Review 2021-2022, Singapore Management University
Lee Kong Chian School Of Business Year In Review 2021-2022, Singapore Management University
SMU Corporate Reports
As Singapore and the world reopens, this has led to changes, especially as people feel safe to travel abroad again. This has impacted us of course. We have seen an 8.9 percent drop in undergraduate applications from our 2022 high. This decline is due in no small part to the relaxation of travel restrictions. However, despite the drop, the quality of applications this year is similar or maybe even slightly better than the year before. In the end, we matriculated 884 students, above our target. This includes 38 scholarship recipients who accepted our offer, representing a record yield. We have …
The Livingston Survey 2022, S. Anderson, B. Bovino, M. Brown, Thomas Lam, Et Al
The Livingston Survey 2022, S. Anderson, B. Bovino, M. Brown, Thomas Lam, Et Al
Sim Kee Boon Institute for Financial Economics
The 16 participants in the December Livingston Survey weakened their forecasts for real GDP growth, compared with their projections in the June 2022 survey. The forecasters, who are surveyed by the Federal Reserve Bank of Philadelphia twice a year, expect 2.0 percent annualized growth in real GDP during the second half of 2022. They project 0.4 percent annualized growth over the first half of 2023. The forecasters predict that real GDP will continue to decline and reach -1.0 percent annualized growth in the second half of 2023.
The Value Of Fiduciary Duties: Evidence From En Bloc Sales In Singapore, Jianfeng Hu, Kelvin F. K. Low, Wei Zhang
The Value Of Fiduciary Duties: Evidence From En Bloc Sales In Singapore, Jianfeng Hu, Kelvin F. K. Low, Wei Zhang
Research Collection Lee Kong Chian School Of Business
This paper examines the impact of fiduciary duties on collective asset sales in the case of owners acting as delegates for other owners, thereby potentially inducing conflicts of interests. Our identification strategy exploits a unique legal shock in Singapore, which established fiduciary duties in those transactions in the real estate market known colloquially as en bloc sales. The imposition of fiduciary duties caused the price premium of units sold via en bloc sales to increase over units ineligible for en bloc sale, as well as over units that, although eligible for en bloc sale, are sold individually. In addition, this …
Learning From Manipulable Signals, Mehmet Ekmekci, Leandrro Gorno, Lucas Maestri, Jian Sun, Dong Wei
Learning From Manipulable Signals, Mehmet Ekmekci, Leandrro Gorno, Lucas Maestri, Jian Sun, Dong Wei
Research Collection Lee Kong Chian School Of Business
We study a dynamic stopping game between a principal and an agent. The agent is privately informed about his type. The principal learns about the agent’s type from a noisy performance measure, which can be manipulated by the agent via a costly and hidden action. We fully characterize the unique Markov equilibrium of this game. We find that terminations/ market crashes are often preceded by a spike in (expected) performance. Our model also predicts that, due to endogenous signal manipulation, too much transparency can inhibit learning. As the players get arbitrarily patient, the principal elicits no useful information from the …
Revisiting Meta-Analytic Estimates Of Validity In Personnel Selection: Addressing Systematic Overcorrection For Restriction Of Range, Paul R. Sackett, Charlene Zhang, Christopher M. Berry, Filip Lievens
Revisiting Meta-Analytic Estimates Of Validity In Personnel Selection: Addressing Systematic Overcorrection For Restriction Of Range, Paul R. Sackett, Charlene Zhang, Christopher M. Berry, Filip Lievens
Research Collection Lee Kong Chian School Of Business
This paper systematically revisits prior meta-analytic conclusions about the criterion-related validity of personnel selection procedures, and particularly the effect of range restriction corrections on those validity estimates. Corrections for range restriction in meta-analyses of predictor–criterion relationships in personnel selection contexts typically involve the use of an artifact distribution. After outlining and critiquing five approaches that have commonly been used to create and apply range restriction artifact distributions, we conclude that each has significant issues that often result in substantial overcorrection and that therefore the validity of many selection procedures for predicting job performance has been substantially overestimated. Revisiting prior meta-analytic …
Avoiding Bias In The Search For Implicit Bias, Wilson Cyrus-Lai, Warren Tierney, Christilene Du Plessis, My Nguyen, Michael Schaerer, Elena Giulia Clemente, Eric Luis Uhlmann
Avoiding Bias In The Search For Implicit Bias, Wilson Cyrus-Lai, Warren Tierney, Christilene Du Plessis, My Nguyen, Michael Schaerer, Elena Giulia Clemente, Eric Luis Uhlmann
Research Collection Lee Kong Chian School Of Business
To revitalize the study of unconscious bias, Gawronski, Ledgerwood, and Eastwick (this issue) propose a paradigm shift away from implicit measures of intergroup attitudes and beliefs. Specifically, researchers should capture discriminatory biases and demonstrate that participants are unaware of the influence of social category cues on their judgments and actions. Individual differences in scores on implicit measures will be useful to predict and better understand implicitly prejudiced behaviors, but the latter should be the collective focus of researchers interested in unconscious biases against social groups.
The Past, Present, And Future Of China-Related Accounting Research, Qiang Cheng, Luzi Hail, Gwen Yu
The Past, Present, And Future Of China-Related Accounting Research, Qiang Cheng, Luzi Hail, Gwen Yu
Research Collection School Of Accountancy
This discussion makes several observations regarding the past 25 years of China-related accounting research reviewed in Lennox and Wu (2022). First, we discuss factors of supply and demand that led to the rise of China-related studies and how this growth has contributed to the internationalization of accounting research. We note that the taxonomy of the literature by geographic region rather than topic or methodology is unusual and makes it difficult to formulate a common framework that would help organize the many contributions. Next, we distill distinct patterns in authorship, choice of topics, and asserted contributions of China-related studies. Studies are …
Social Performance Feedback And Firm Communication Strategy, Heli Wang, Ming Jia, Yi Xiang, Yang Lan
Social Performance Feedback And Firm Communication Strategy, Heli Wang, Ming Jia, Yi Xiang, Yang Lan
Research Collection Lee Kong Chian School Of Business
Although corporate social performance has become an important measure of firm performance, there is little understanding about how firms respond to social performance feedback and how impression management may function as an important firm response to the feedback. Building upon and extending the literature on the behavioral theory of the firm and the strategic use of language, we examine how discrepancies between firms’ social performance and their aspiration levels affect how firms use visual expressions in their CSR reports. In addition, we argue that the relationship between social performance discrepancies and the use of visual expressions in CSR reports is …
Building Up A Culture Of Respect, Siow-Heng Ong
Building Up A Culture Of Respect, Siow-Heng Ong
Research Collection Lee Kong Chian School Of Business
Recently, we have become more acutely aware of a variety of undesirable workplace circumstances and practices in Singapore. personal time; discriminatory workplace practices against members of various categories of minority groups; and bias against women staff.
Multi-Functional Job Roles To Support Operations In A Multi-Faceted Jewel Enabled By Ai And Digital Transformation, Steven M. Miller
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.
Local, Yet Global: Implications Of Caste For Mnes And International Business, Hari Bapuji, Snehanjali Chrispal, Balagopal Vissa, Gokhan Ertug
Local, Yet Global: Implications Of Caste For Mnes And International Business, Hari Bapuji, Snehanjali Chrispal, Balagopal Vissa, Gokhan Ertug
Research Collection Lee Kong Chian School Of Business
Caste is an informal institution that influences socioeconomic action in many contexts. It is becoming increasingly evident that international business research, practice, and policy need to programmatically address caste. To facilitate this endeavour, we review the limited research in IB that has addressed caste, and theorize caste as a distinct informal institution by distinguishing it from systems of stratification like race, class, and gender. In addition, we propose a parsimonious framework to highlight the implications of caste for Indian and non-Indian MNEsin their Indian and global operations. In doing this, we focus on implications with respect to the internal organization …
The Sun Is Rising In The East: Dual-Class Shares And The Competitive Landscape Of Technological Industries In Asia, Hao Liang, Tran Bao Phuong Nguyen, Wei Zhang
The Sun Is Rising In The East: Dual-Class Shares And The Competitive Landscape Of Technological Industries In Asia, Hao Liang, Tran Bao Phuong Nguyen, Wei Zhang
Research Collection Lee Kong Chian School Of Business
There has recently been a relaxation of listing regulations to accommodate and attract firms going public with dual-class shares (DCS), notably in Asia. We examine the value implications of DCS adoption by employing an event study around a regulatory change allowing DCS listings in Hong Kong. We find negative market reactions around these regulatory discussions for firms already listed in Hong Kong, especially for firms in technology (tech) sectors. However, the market reaction turned positive for tech firms during Hong Kong’s first DCS listing. We identify two distinct channels that influenced shareholders’ perspectives on DCS: the competition channel, which dominated …
Agriculture And Sustainable Farming In Vietnam, Minh Hoan Le
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.
Encouraging Social Entrepreneurship, Kanyaporn Skutalakul
Encouraging Social Entrepreneurship, Kanyaporn Skutalakul
Asian Management Insights
It’s about taking the first steps.
Section 377a Repeal: How To Handle Disagreements, David Chan
Section 377a Repeal: How To Handle Disagreements, David Chan
Research Collection School of Social Sciences
In a commentary, Professor David Chan (SMU Behavioural Sciences Initiative Director and Lee Kong Chian Professor of Psychology) discussed the repeal of Section 377A of the Penal Code and proposed adopting five practical approaches for a more constructive discussion on the emotive issue.
The Alphabet Soup In Reporting And Measuring Esg, Hao Liang, Kam Chee Chan
The Alphabet Soup In Reporting And Measuring Esg, Hao Liang, Kam Chee Chan
Research Collection Lee Kong Chian School Of Business
Harmonising frameworks with the Impact-Weighted Accounts Framework.
Made In Singapore, Pao-Li Chang, Tran Bao Phuong Nguyen
Made In Singapore, Pao-Li Chang, Tran Bao Phuong Nguyen
Research Collection School Of Economics
In this paper, we characterize the position of Singapore in global value chains and identify Singapore’s key upstream and downstream trade partners. We trace how the position of Singapore in global value chains has changed in the past two decades: whether it has moved upstream or downstream, how involved it is in global value chains, how its trend compares with the other major Asian exporters (China, Japan, Korea, Taiwan and Hong Kong), and which key sectors of Singapore play a major role in these global trade networks.
“No More Uncle” And Gender-Neutral Marketing, Singapore Management University
“No More Uncle” And Gender-Neutral Marketing, Singapore Management University
Perspectives@SMU
How Asian men’s beauty care is shaping conception of masculinity and gender-neutral marketing
Property In Whose Name? Intrahousehold Bargaining Over Homeownership In China, Jia Yu, Cheng Cheng
Property In Whose Name? Intrahousehold Bargaining Over Homeownership In China, Jia Yu, Cheng Cheng
Research Collection School of Social Sciences
Previous research typically examined homeownership inequality across individuals or households, overlooking the intrahousehold allocation of homeownership. Using couple-level data of the 2016 China Family Panel Studies, our study addresses the gap by examining the bargaining over homeownership between husbands and wives in China. Descriptive results reveal a large gender gap in homeownership: only about one-quarter of couples listed the wife as an owner on the Housing Ownership Certificate, whereas about 92% listed the husband. The gender gap in ownership, however, has narrowed among couples married after 2000. Multivariate analyses show that economic autonomy, relative resources, housing purchase conditions, and modernization …
The Impact Of Fear Of Losing Out (Folo) On College Students’ Performance Goal Orientations And Learning Strategies Insingapore, Haelim Choi, Chi-Ying Cheng, Sheila Xi Rui Wee
The Impact Of Fear Of Losing Out (Folo) On College Students’ Performance Goal Orientations And Learning Strategies Insingapore, Haelim Choi, Chi-Ying Cheng, Sheila Xi Rui Wee
Research Collection School of Social Sciences
The current research investigated the influence of the Fear of Losing Out (FoLO) mindset on learning strategy via performance goal orientation and its interaction with social comparison amongst Singaporean college students. In Study 1, a positive relationship between FoLO and performance goal orientations (i.e., avoidance and approach) was found. Study 2 replicated this finding and further revealed a downstream effect of FoLO on surface learning via performance goal orientations. In addition, social comparison moderated the link between performance goal orientation and surface learning in the mediation model. Specifically, in downward social comparison conditions, FoLO facilitated high performance-avoidance goal orientation, which …
Experiential Learning: The Case Of Training Mba Students In An Asian School, Chiyachantana N. Chiraphol, Kuan Yong David Ding, Jack Jiajun Hong
Experiential Learning: The Case Of Training Mba Students In An Asian School, Chiyachantana N. Chiraphol, Kuan Yong David Ding, Jack Jiajun Hong
Research Collection Lee Kong Chian School Of Business
Consulting for a startup company is an effective way for Master of Business Administration (MBA) students to learn about management consulting, and the ways and means of a startup company. This paper discusses the experience of an MBA startup project within the context of a core corporate finance course. The project requires the active engagement of several groups of stakeholders—MBA students, the university’s entrepreneurship incubator, a selection of startup companies, and the project’s academic collaborators. In line with the literature, we find that entrepreneurship education through student-startup collaboration contributes to the students’ entrepreneurial learning, and that the offering of an …
Singapore Public Sector Ai Applications Emphasizing Public Engagement: Six Examples, Steven M. Miller
Singapore Public Sector Ai Applications Emphasizing Public Engagement: Six Examples, Steven M. Miller
Research Collection School Of Computing and Information Systems
This article provides an overview of six examples of public sector AI applications in Singapore that illustrate different ways of enhancing engagement with the public. These applications demonstrate ways of enhancing engagement with the public by providing greater accessibility to government services (access anywhere, anytime) and speedier responses to public processes and feedback. Some applications make it substantially easier for members of the public to do things or make choices, while others reduce waiting time, either across an entire public infrastructure, or for an individual transaction. Some provide highly individualized coaching to guide a person through the process of doing …
Does Social Media Accelerate Product Recalls? Evidence From The Pharmaceutical Industry, Yang Gao, Wenjing Duan, Huaxia Rui
Does Social Media Accelerate Product Recalls? Evidence From The Pharmaceutical Industry, Yang Gao, Wenjing Duan, Huaxia Rui
Research Collection School Of Computing and Information Systems
Social media has become a vital platform for voicing product-related experiences that may not only reveal product defects but also impose pressure on firms to act more promptly than before. This study scrutinizes the rarely-studied relationship between these voices and the speed of product recalls in the context of the pharmaceutical industry where social media pharmacovigilance is becoming increasingly important for the detection of drug safety signals. Using Federal Drug Administration (FDA) drug enforcement reports and social media data crawled from online forums and Twitter, we investigate whether social media can accelerate the product recall process in the context of …
Contextualizing The Organizational Mindset, Joseph A. Carpini, Burak Oc
Contextualizing The Organizational Mindset, Joseph A. Carpini, Burak Oc
Research Collection Lee Kong Chian School Of Business
Although Schneider and Pulakos (2022, p. 2) call for scholars to adopt an “organizational mindset,” which includes “an increased organizational frame of reference on variables of interest,” the authors have overlooked the importance of contextualizing such a mindset. Contextualizing “entails linking observations to a set of relevant facts, events, or points of view that make possible research and theory that form part of a larger whole” (Rousseau & Fried, 2001, p. 1). Contextualizing is essential because it provides a common vernacular that facilitates the valid and reliable extension of the industrial-organizational (I-O) mindset to the study of organizational differences and …
Yung Kee: A Roast Goose Chase, Singapore Management University
Yung Kee: A Roast Goose Chase, Singapore Management University
Perspectives@SMU
How a Hong Kong culinary landmark emerged stronger following a bitter family feud over succession disputes
Chinese Clan Culture And Its Influence On Family Business Ownership, Jiameng Cheng, Yanke Dai, Lin Shu, Haichun Ye
Chinese Clan Culture And Its Influence On Family Business Ownership, Jiameng Cheng, Yanke Dai, Lin Shu, Haichun Ye
Perspectives@SMU
Research shows that, in China, business owners who hail from provinces with high clan cultural influence are more likely to share business ownership with family members
Skbi Big 5 Survey 2022 August, Singapore Management University
Skbi Big 5 Survey 2022 August, Singapore Management University
Sim Kee Boon Institute for Financial Economics
The latest survey results on the largest five economies (Big5) were revised markedly relative to the prior release (pre-Russia-Ukraine conflict), generally indicating weaker growth and higher inflation coupled with incremental ambiguity on the policy front.
International Asset Pricing With Strategic Business Groups, Massimo Massa, Hong Zhang, Hong Zhang
International Asset Pricing With Strategic Business Groups, Massimo Massa, Hong Zhang, Hong Zhang
Research Collection Lee Kong Chian School Of Business
Firms in global markets often belong to business groups. We argue that this feature can have a profound influence on international asset pricing. In bad times, business groups may strategically reallocate risk across affiliated firms to protect core “central firms.” This strategic behavior induces co-movement among central firms, creating a new intertemporal risk factor. Based on a novel data set of worldwide ownership for 2002–2012, we find that central firms are better protected in bad times and that they earn relatively lower expected returns. Moreover, a centrality factor augments traditional models in explaining the cross section of international stock returns.
Where We Are From Matters: Assessing The Impact Of Immigrants On Firm Environmental Performance, Narae Lee
Where We Are From Matters: Assessing The Impact Of Immigrants On Firm Environmental Performance, Narae Lee
Research Collection Lee Kong Chian School Of Business
This study examines the impact of immigrant populations on firm environmental performance. Leveraging a longitudinal dataset of more than 11,000 manufacturing facilities in the US in which I match the Environmental Protection Agency’s (EPA) facility toxic emissions data with the location’s census immigration data, I document the negative impact of local immigrant populations on a facility’s environmental performance, which strengthens as heterogeneity among immigrant increases. I argue that this is because a more heterogeneous community is less cohesive and hence less capable of organizing effective pressures against pollution. Further, I show that because co-nationality links create unique bonds between the …
The Cryptocurrency Participation Puzzle, Ran Duchin, David H. Solomon, Jun Tu, Xi Wang
The Cryptocurrency Participation Puzzle, Ran Duchin, David H. Solomon, Jun Tu, Xi Wang
Research Collection Lee Kong Chian School Of Business
We show that ongoing zero portfolio weights in cryptocurrency are surprisingly difficult to generate in a standard Bayesian portfolio theory framework. With ten years of prior data, equity market investors would need very pessimistic priors on mean returns to justify never having bought cryptocurrency: -10.6% per month for Bitcoin, and -19.6% per month for a diversified portfolio of cryptocurrencies. Moreover, most priors that involve never purchasing cryptocurrency imply that investors should short cryptocurrency. Optimal absolute weights are generally small but non-trivial (1-5%), frequently positive, and fairly smooth despite returns being volatile. Under a wide range of priors, the certainty equivalent …