Business Commons^™

The Salience Of Choice Fuels Independence: Implications For Self-Perception, Cognition, And Behavior, Kevin Nanakdewa, Shilpa Madan, Krishna Savani, Hazel Rose Markus

Research Collection Lee Kong Chian School Of Business

More than ever before, people across the world are exposed to ideas of choice and have opportunities to make choices. What are the consequences of this rapidly expanding exposure to the ideas and practice of choice? The current research investigated an unexamined and potentially powerful consequence of this salience of choice: an awareness and experience of independence. Four studies (n = 1,288) across three cultural contexts known to differ in both the salience of choice and the cultural emphasis on independence (the United States, Singapore, and India) provided converging evidence of a link between the salience of choice and independence. …

The Price Of Independence In An Echo Chamber With Dependence Ambiguity, Lorán Chollete, Michael Klass, Victor De La Peña

WCBT Working Papers

How much should we pay to remove the interdependence of biased information sources? This question is relevant in both statistics and political economy. When there are many information sources or variables, their dependence may be unknown, which creates multivariate ambiguity. One approach to answer our leading question involves use of decoupling inequalities from probability theory. We present a new inequality, designed to cope with this question, which holds for any type of dependence across information sources. We apply our method to a simple formalization of a political echo chamber. For a given set of marginal information, this bound is the …

Startup Governance, Elizabeth Pollman

All Faculty Scholarship

Although previously considered rare, over three hundred startups have reached valuations over a billion dollars. Thousands of smaller startups aim to follow in their paths. Despite the enormous social and economic impact of venture-backed startups, their internal governance receives scant scholarly attention. Longstanding theories of corporate ownership and governance do not capture the special features of startups. They can grow large with ownership shared by diverse participants, and they face issues that do not fit the dominant principal-agent paradigm of public corporations or the classic narrative of controlling shareholders in closely held corporations.

This Article offers an original, comprehensive framework …

Audit Committees And Financial Reporting Quality In Singapore, Yuanto Kusnadi, Kwong Sin Leong, Themin Suwardy, Jiwei Wang

Research Collection School Of Accountancy

We examine three characteristics (independence, expertise, and overlapping membership) of audit committees and their impact on the financial reporting quality for Singapore-listed companies. The main finding is that financial reporting quality will be higher if audit committees have mixed expertise in accounting, finance, and/or supervisory. In addition, we do not find evidence that incremental independence of audit committees enhances financial reporting quality because audit committees already consist of a majority of independent directors. Finally, we fail to find any impact of overlapping membership on audit and remuneration committees on financial reporting quality. Overall, the results have policy implications on improving …

Ceo Pay-Performance And Board Independence: The Impact Of Earnings Management In China, Yuqing Zhu, Gary G. Tian

Faculty of Commerce - Papers (Archive)

This paper examines the impact of board characteristics and CEO compensation on firm performance when firm performance is adjusted for the effect of earnings management. Results from regression analysis indicates that the CEO pay-performance relation is substantially lower when firm performance is adjusted for the effect of earnings management than when firm performance is measured as reported performance. That is, the positive effect of executive compensation on firm performance disappears when firm performance is measured as adjusted firm performance excluding earnings management in Chinese listed firms, and as a result, we can identify that the evident executive pay-performance relation is …

Slides: Lower Arkansas Valley Super Ditch Company, Inc.: Water Leasing Program, Peter Nichols

Evolving Regional Frameworks for Ag-to-Urban Water Transfers (December 11)

Presenter: Peter Nichols, General Counsel of the Lower Arkansas Valley “Super Ditch” Company, Trout, Raley, Montano, Witwer & Freeman PC, Colorado

33 slides

Profiling Non-Executive Directors In Australia, C. L. Cortese, G. Bowrey

Faculty of Commerce - Papers (Archive)

This paper presents a profile of non-executive directors of Australia’s largest public companies. Using descriptive data, it assesses the extent to which these companies adhere to the requirements set down in the Australian Stock Exchange’s Principles of Good Corporate Governance. In relation to these profiles, the generic roles of non-executive directors are discussed and evaluated in terms of their actual and perceived independence from management. The paper concludes with an examination of the need for independence and questions whether competence, among other characteristics, is a more valuable characteristic of a non-executive director than independence.