Business Commons^™

Preparing Accountants Of The Future: Examining An Accounting Data And Analytics Undergraduate Program In Singapore, Poh Sun Seow, Gary Pan, Clarence Goh, Duan Ning, Magdeleine Lew

Research Collection School Of Accountancy

Due to technological innovations, there is a need for universities to produce accounting graduates who are proficient in data and analytics, in addition to core accounting skills. A university in Singapore launched the accounting data and analytics (AD&A) second major program to provide students with skillsets in data and analytics. The aim of this study is to examine the efficacy of the AD&A program. 100 participants were surveyed, involving 70 graduates of the program and 30 employers. The results show that both graduates andemployers were satisfied with the program. The results also show that the program adequately equips graduates with …

Does Generative Ai Facilitate Investor Trading? Evidence From Chatgpt Outages, Qiang Cheng, Pengkai Lin, Yue Zhao

Research Collection School Of Accountancy

In this paper, we use ChatGPT outages to investigate whether investors rely on generative artificial intelligence (GAI) to perform trading-related tasks and the associated impact on stock price informativeness. We first document a significant decline in stock trading volume during ChatGPT outages and find that the effect is stronger for firms with corporate news released immediately before or during the outages. We further document similar declines in the short-run price impact, return variance, and bid-ask spreads, consistent with a reduction in informed trading during the outage periods. Lastly, we use trading volume changes during outages to construct a firm-level measure …

The Research Of The Non-Financial Factors In The Investment Decision, Wenbiao Hou

Dissertations and Theses Collection (Open Access)

Driven by globalization and technological innovation, the complexity of investment decisions is continuously increasing. While traditional financial factors still play a crucial role in these decisions, an increasing number of real-life cases indicate that investors are relying more on non-financial factors. This paper systematically analyzes the impact of these non-financial factors in the framework of investment decision-making.

This paper employs a mixed research method, incorporating both qualitative and quantitative analyses to ensure comprehensive coverage of the topic. First, it outlines the theoretical basis and development of non-financial factors in investment decisions through a review of prior literature. Next, it collects …

Stock Market Volatility In The United Kingdom: Simulating Post-Covid-19 Recovery, Bala A. Dahiru, Mohammed Shuaibu, Najibullah Hassanov

CBN Journal of Applied Statistics (JAS)

This paper investigates the time it would take for the FTSE-100 index to reach its post-COVID-19 peak. The paper utilises an exponential generalised autoregressive conditional heteroscedasticity (EGARCH) model that accounts for leverage effect and asymmetries. The preferred models amongst competing variants was the Autoregressive Moving Average (ARMA)-EGARCH(2,1) specification and was used to predict daily FTSE-100 data from 5th January 2000 to 21st June 2024. The empirical exercise showed that the COVID-19-induced financial crisis negatively affected the United Kingdom’s stock market performance. The results show that the FTSE100 index could reach its post-pandemic peak around 27th August, 2024 (two months after …

Impact Of Covid-19 Pandemic On Performance Of Nigerian Stock Market, Shafiu Ibrahim Abdullahi

CBN Journal of Applied Statistics (JAS)

This study analyzes the effect of COVID-19 pandemic on the performance of Nigerian stock market. The study uses a number of models that include autoregressive distributed lag, vector auto regression, exponential generalized autoregressive conditional heteroskedasticity and multivariate generalized autoregressive conditional heteroskedasticity models. Findings show that reported cases of COVID-19 have causal effect on daily returns of the Nigerian stock market. The results also show that Nigerian stocks are good for portfolio diversification. The results of variance decomposition confirm the declining importance of COVID-19 cases and deaths as the pandemic slows down. Further results show that, for the duration of the …

Impact Of Fiscal Policy On Financial Inclusion And Development In Nigeria, Okwanya Innocent, Taiwo A. Olusegun, Aimua E. Peace

CBN Journal of Applied Statistics (JAS)

This paper examines the effect of fiscal policy on financial inclusion and development in Nigeria. The study employs the Autoregressive Distributed Lag (ARDL) model and impulse response function (IRF) to determine the extent and response of financial inclusion and development to fiscal policy changes in Nigeria. The study derives a financial inclusion index from three core indicators: access, usage and quality of financial services, while financial development is measured as the ratio of money supply to GDP (M2/GDP). The results show that government expenditure has a significant positive effect on financial inclusion and development, while tax revenue exerts a negative …

Horizontal Concentration And Vertical Concentration In Capitalist Agriculture: Re-Interpreting Marx And Chayanov, Qian Forrest Zhang

Research Collection School of Social Sciences

How capitalism transforms peasant farming is a central question in agrarian studies. The two most important theoretical perspectives on this question—Marxist and Chayanovian theories—both have limitations. The former overlooked how commercial capital can transform smallholders’ production through vertical integration and extract surplus from smallholders through commodity relations; the latter neglected how labor commodification transforms smallholders’ family economic behaviors. These two theories, however, complement each other on these two fronts. Through critically re-interpreting Marxist and Chayanovian theories, this paper offers a synthesis that integrates the two perspectives into a coherent theoretical framework and proposes that capitalist agriculture expands through both “horizontal …

Naturify 2300, Yarina Yiwei Dai

Masters Theses

In my art practice, I explore the interplay between human desires to manipulate and anthropomorphize nature, as seen in the technological augmentation of plants and living entities. This investigation delves into how this intersection, alongside empathy towards these creations, contributes to fears of uncontrollability and the risks of addiction and excessive dependence on technology.

Bioengineering and genetic modification have cultivated unprecedented developments, allowing humans to manipulate the fundamental building blocks of life. My research speculates on this technology further, modifying the genetic code of organisms and creating bioengineered wearable entities with enhanced traits or entirely new functionalities. The primary objective …

Call And Response : Experiments In Storytelling, Deanne Fernandes

Masters Theses

Being part of RISD's inaugural Masters of Illustration cohort has been an immense honor. This journey has been nothing short of transformative and healing, as it has allowed me to unearth layers of self-discovery through my creative practice.

In my thesis, I introduce a fresh research methodology rooted in the principles of call and response, with adaptability, creativity, and storytelling as its foundational pillars. Through the lenses of visual storytelling, experimental animation, graphic journalism, and fictional world-building, I demonstrate how these techniques can effectively bridge the gap between theory and practice. This dynamic approach fosters meaningful connections among diverse perspectives …

Leader-Expressed Humility: Development And Validation Of Scales Based On A Comprehensive Conceptualization, Kraivin Chintakananda, James M. Diefendorff, Burak Oc, Michael A. Daniels, Gary J. Greguras, Michael R. Bashshur

Research Collection Lee Kong Chian School Of Business

We introduce new leader humility scales capturing a theoretically rich conceptualization of leader-expressed humility aligned with traditional and ethically-grounded philosophies. These scales draw from recent inductive research (Oc et al., 2015) identifying nine dimensions of leader-expressed humility: (1) having an accurate view of self, (2) recognizing follower strengths and achievements, (3) modeling teachability and being correctable, (4) leading by example, (5) showing modesty, (6) working together for the collective good, (7) empathy and approachability, (8) showing mutual respect and fairness, and (9) mentoring and coaching. The first three dimensions overlap with the most prominent conceptualization of leader-expressed humility in the …

Nationalist Sentiments And The Multinational Enterprise: Insights From Organizational Sociology, Jesper Edman, Ilya R. P. Cuypers, Gokhan Ertug, Ruth V. Aguilera

Research Collection Lee Kong Chian School Of Business

International business scholars have recognized the impact of political and economic nationalism on the multinational enterprise (MNE). We complement these approaches by highlighting the sociological manifestations of nationalism and their implications for the MNE. We argue that nationalist sentiments, i.e. widely-shared assumptions of superiority over other nations and cultures, constitute an under-researched but critical element in international business (IB). Drawing insights from organizational sociology, we elucidate how nationalist sentiments manifest in the MNE’s external and internal environment. Specifically, we suggest that nationalist sentiments accentuate national institutional logics, generate status-based categorizations of foreign and domestic firms, and heighten emphasis on national …

Lessons From The Demise Of The Brent Crude Oil Futures Contract On The Singapore Exchange, Kuan Yong David Ding, Wui Boon Lim

Research Collection Lee Kong Chian School Of Business

This paper highlights the lessons drawn from the demise of the Brent Crude Oil futures contract that was traded on the Singapore Stock Exchange (SGX). We analyze the market microstructure of the contract prior to its failure—specifically, the number of trades, trading volume, open interest, bid–ask spread, and volatility. We find a steady decline in the mean volume, open interest, and number of trades as the contracts near their demise. The bid–ask spread of the contract also widens. Investigations of the mutual offset feature of the Brent Crude Oil futures contract between SGX and the International Commodity Exchange (ICE) provides …

Politically Connected Emncs In A (De)Globalising World: A Review And Future Research Directions, Dongdong Huang, Lai Si Tsui-Auch, Marleen Dieleman, David Gomulya

Research Collection Lee Kong Chian School Of Business

Emerging market multinational corporations (EMNCs) have emerged as significant global players, driven by their home country political connections that present both opportunities and challenges. Despite the insights gained from current studies, we still lack a clear conceptualisation of diverse political connections and the distinctiveness of politically connected EMNCs. Our study conducts a comprehensive review to bridge those gaps. We identify and compare two types of political connections, delve into major theories and highlight their main focus, key arguments, mechanisms and outcome predictions. Consequently, we propose a context-mechanism-outcome framework across three contextual levels, emphasising theoretical convergence and divergence between politically connected …

Fluid Futures: The Revitalization Of Yangzhou Through Its Historical Waterways, Feiyang Wu

Masters Theses

In China, cities such as Yangzhou, which in pre-modern times played central roles in the political, cultural, and economic functioning of the country based on their geographic location, proximity to water-based trade routes, and connections to the imperial court, are today facing uncertain futures due to waterways no longer being critical to trade, and government-driven development being focused on first-tier cities such as Beijing, Shanghai, Shenzhen, and Guangzhou. With this, the working-age population migrates from smaller cities toward these urban giants, leaving behind aging relatives, a less robust and diversified economic base, and few attributes other than cultural tourism that …

Editorial, Hanh Cao Yu

The Foundation Review

No abstract provided.

Four Network Principles For Collaboration Success – With 2024 Prologue, Jane Wei-Skillern, Nora Silver

The Foundation Review

Editor’s Note: This article, first published in print and online in 2013, has been republished by The Foundation Review with minor updates.

This article identifies a set of four counterintuitive principles that are critical to collaboration success and offers insights for how nonprofit leaders can ensure that their collaborations can have an impact that is dramatically greater than the sum of the individual parts.

Based on a decade of research developing detailed case studies on a range of successful networks, the authors have identified a common pattern of factors that are essential to effective networking.The principles are to focus on …

Raising The Bar — Integrating Cultural Competence And Equity: Equitable Evaluation – With 2024 Prologue, Jara Dean-Coffey, Jill Casey, Leon D. Caldwell

The Foundation Review

Editor’s Note: This article, first published in print and online in 2014, has been republished by The Foundation Review with minor updates.

Whether implicit or explicit, social justice and human rights are part of the mission of many philanthropies. Evaluation produced, sponsored, or consumed by these philanthropies that doesn’t pay attention to the imperatives of cultural competency may be inconsistent with their missions.

The American Evaluation Association’s Statement on Cultural Competence provides those who produce, sponsor, and use evaluation an opportunity to examine and align their practices and policies within a context of racial and cultural equity and inclusion. The …

Internal Culture, External Impact: How A Changemaking Culture Positions Foundations To Achieve Transformational Change – With 2024 Prologue, Amy Celep, Sara Brenner, Rachel Mosher-Williams

The Foundation Review

Editor’s Note: This article, first published in print and online in 2016, has been republished by The Foundation Review with minor updates.

This article argues that a foundation’s internal culture is critical to achieving large-scale social change, but that efforts to build a changemaking culture too often are left out of strategy conversations.

While there is no one culture that suits every foundation, a particular set of characteristics must be present in those that seek largescale social change: a focus on outcomes, transparency, authenticity, collaboration, racial equity and inclusion, continuous learning, and openness to risk.

This article offers insights into …

Donor-Advised Funds And Impact Investing: A Practitioner’S View – With 2024 Prologue, Sam Marks

The Foundation Review

Editor’s Note: This article, first published in print and online in 2022, has been republished by The Foundation Review with minor updates.

Any discussion of foundations embracing impact investing must include some discussion of one of the largest — and growing — sources of philanthropic capital: donor-advised funds. These philanthropic accounts allow donors of all sizes to access many of the functions of a private foundation, including the potential to invest for impact. Sponsors of these funds, however, face unique challenges in catalyzing impact investments.

Like the larger institutional foundations that have led the way as mission investors, sponsors must …

Emergent Learning: A Framework For Whole-System Strategy, Learning, And Adaptation – With 2024 Prologue, Marilyn J. Darling, Jillaine S. Smith, James E. M. Stiles, Heidi Sparkes Guber

The Foundation Review

Editor’s Note: This article, first published in print and online in 2016, has been republished by The Foundation Review with minor updates.

The field of philanthropy is exploring what it takes to achieve impact in complex environments. The terms “adaptive” and “emergent” are beginning to be used, often interchangeably, to describe strategies by which funders can tackle complexity. This article proposes distinguishing between the two and explores more deeply how the research into complexity can inform philanthropic practice.

While approaches like systems mapping, scenario planning, and appreciative inquiry have been put forward as useful approaches to expanding perspectives and seeing …

Executive Summaries

The Foundation Review

No abstract provided.

Front Matter

The Foundation Review

No abstract provided.

Lost Causal: Debunking Myths About Causal Analysis In Philanthropy – With 2024 Prologue, Jewlya Lynn, Sarah Stachowiak, Julia Coffman

The Foundation Review

Editor’s Note: This article, first published in print and online in 2022, has been republished by The Foundation Review with minor updates.

What if philanthropic evaluations told us that changes in the world had occurred, as well as how and why they occurred, including whether what foundations funded and grantees did contributed to those changes? What if evaluations made change pathways more visible, tested hypotheses and assumptions, and generated new insights based on what happened in the “black box” of systems change strategies? This type of learning comes from causal analysis — inquiry that explores cause-and-effect relationships.

Yet currently in …

Tfr 16.1 Full Issue

The Foundation Review

No abstract provided.

Goal-Free Evaluation: An Orientation For Foundations’ Evaluations – Updated 2024, Brandon W. Youker, Allyssa Ballard

The Foundation Review

Editor’s Note: This article, first published in print and online in 2014, has been revised for The Foundation Review with substantive additions, new examples, and minor updates.

Goal-free evaluation is a model in which official or stated program goals and objectives are unknown by the evaluator, serving as a counter to assessing impact solely according to goal achievement. Foundation-supported program evaluation, however, has historically focused on goal attainment as intuitively and inextricably linked to evaluation.

This focus has persisted despite the fact that goal-free product evaluations have been a norm for more than 75 years. Yet persuading funders to consider …

Systems Thinking For Social Change: A Practical Guide To Solving Complex Problems, Avoiding Unintended Consequences, And Achieving Lasting Results, Hilda Vega

The Foundation Review

Editor’s Note: This article, first published in print and online in 2015, has been republished by The Foundation Review with minor updates.

Passing In The Dark: Making Visible Philanthropy’S Hidden And Conflicting Mental Models For Systems Change, Jewlya Lynn, Julia Coffman

The Foundation Review

While the need for philanthropy to focus on systems change as a way to scale and sustain impact is now widely accepted, we see the sector largely failing to recognize that there are different mental models for how to change systems. Sometimes the approaches foundations use are based on competing mental models or models that are not a good fit for the systems, problems, strategies, or practices they are using.

We see two mental models for systems change being used in philanthropy: systems dynamics and systems emergence. Strategies that use the systems-dynamics mental model aim at points of high leverage …

The Soft Stuff Doesn’T Have To Be Hard: Foundation Investments In Grantee Workers Are Necessary, Valuable, And Measurable – With 2024 Prologue, Rusty M. Stahl

The Foundation Review

Editor’s Note: This article, first published in print and online in 2022, has been republished by The Foundation Review with minor updates.

There is an urgent need for funder investments in the ability of grantee nonprofit organizations to support their staff. Such investments, when done well, can yield significant value for individuals, organizations, and fields of work or movements. Furthermore, the value of these investments can be evaluated and communicated.

This article explores the reasons for and implications of the inadequate response by funders, offers a path forward for designing investments in grantee staff, and documents how funders can capture …

A Foundation’S Theory Of Philanthropy: What It Is, What It Provides, How To Do It – With 2024 Prologue, Michael Quinn Patton, Nathaniel Foote, James Radner

The Foundation Review

Editor’s Note: This article, first published in print and online in 2015, has been republished by The Foundation Review with minor updates.

This article argues that philanthropic endeavors should be undergirded by a theory of philanthropy. Articulating a theory of philanthropy is a way for a foundation to make explicit what is often only implicit, thereby enabling internal and external actors to pose and resolve significant questions, understand and play important roles more fully and effectively, and improve performance by enhancing alignment across complex systems.

A theory of philanthropy articulates how and why a foundation will use its resources to …

On-Site Sensory Experience Boosts Acceptance Of Cultivated Chicken, Mark Chong, Angela K. Y. Leung, Tricia Marjorie Fernandez

Research Collection Lee Kong Chian School Of Business

This study set out to assess if presenting cultivated chicken in the context of a familiar meal, in a familiar dining setting, would motivate repeat consumption and recommendation. A survey of 107 diners was conducted at Huber's Butchery and Bistro in Singapore – the world's first butchery to serve cultivated meat – from April to June 2023. The findings showed that eating cultivated chicken significantly boosted post-consumption acceptance levels. In addition, cultivated chicken's tastiness may be a more important factor than its integration into a familiar meal or dish in fostering repeat consumption. Implications for the cultivated meat industry, limitations, …