Business Commons^™

Private Standards, Public Governance: A New Look At The Financial Accounting Standards Board, William W. Bratton

All Faculty Scholarship

The Financial Accounting Standards Board (the “FASB”) presents a puzzle: How has this private standard setter managed simultaneously (1) to remain independent, (2) to achieve institutional stability and legitimacy, and (3) to operate in a politicized context in the teeth of op-position from its own constituents? This Article looks to governance design to account for this institutional success. The FASB’s founders made a strategic choice to create a regulatory agency that sought independence rather than political responsiveness. The FASB also set out a coherent theory of accounting, the “Conceptual Framework,” to contain and direct its decisions. The Conceptual Framework contributed …

2007 Transactions, American Dental Association

ADA Transactions

This item is part of the Transactions of the ADA, a serial publication of the annual activities of the ADA House of Delegates (HOD)/Board of Trustees (BOT). It is from the Transactions section, one of three subtitles that make up the full publication. Generally, the ADA Transactions are published in multiple volumes throughout the year. Pages from the Annual Reports and the Transactions are numbered consecutively (e.g. Annual Reports volume ends pg. 500 and Transactions volume starts at pg. 501). NOTE: All three subtitles are collectively known as the Transactions of the ADA or, alternatively, the ADA Transactions. Transactions refers …

2007 Supplement Vol. 1, American Dental Association

ADA Transactions

This item is part of the Supplements subtitle of The ADA Transactions, a serial publication of the annual activities of the ADA House of Delegates (HOD)/Board of Trustees (BOT) made up of three separate subtitles: Annual Reports and Resolutions, Supplements, and the Transactions. Generally, The ADA Transactions are published in multiple volumes throughout the year. The Supplements function like an appendix and are, in more recent editions, numbered separately with page numbers determined by HOD reference committee assignation. Items are described variously as "Supplement #", "Volume #", etc. throughout the series but have been labeled here as Vol. # for …

The Delinquency Of Subprime Mortgages, Michelle A. Danis, Anthony Pennington-Cross

Finance Faculty Research and Publications

The lag between the time that a borrower stops making payments on a mortgage and the termination of the loan plays a critical role in the costs borne by both borrower and lender on defaulted loans. While the prior literature uses a multinomial logit approach, statistical tests indicate that we cannot accept the associated assumption of Independence of Irrelevant Alternatives (IIA). Using a nested logit specification our results suggest that the recipe for delinquency involves young loans to low credit score borrowers with low or no documentation in housing markets with moderately volatile and flat or declining nominal house prices.

The Varying Effects Of Predatory Lending Laws On High-Cost Mortgage Applications, Giang Ho, Anthony Pennington-Cross

Finance Faculty Research and Publications

Federal, state, and local predatory lending laws are designed to restrict and in some cases prohibit certain types of high-cost mortgage credit in the subprime market. Empirical evidence using the spatial variation in these laws shows that the aggregate flow of high-cost mortgage credit can increase, decrease, or be unchanged after these laws are enacted. Although it may seem counterintuitive to find that a law that prohibits lending could be associated with more lending, it is hypothesized that a law may reduce the cost of sorting honest loans from dishonest loans and lessen borrowers’ fears of predation, thus stimulating the …

Newsletter: The Donors Forum Of Northeast Florida: Promoting Effective Giving, Third Quarter, The Donors Forum Of Northeast Florida

Florida Blue Archives Printed Materials

No abstract provided.

2007 Corporate Directory, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Balanced Innovation Management, David R. King

Management Faculty Research and Publications

The Department of Defense has demonstrated success in managing innovation. The military’s approach to innovation management extends beyond traditional distinctions between internal and external innovation modes. Summarizing specific innovation strategies available to managers develops recognition of this growing reality. The article concludes with resulting lessons that can be more widely adopted by managers.

Garcetti V. Ceballos: Government Workers, Whistleblowing And The First Amendment, Edward J. Schoen, J. S. Falchek

Rohrer College of Business Departmental Research

No abstract provided.

2007 Annual Reports And Resolutions, American Dental Association

ADA Transactions

This item is part of the Annual Reports and Resolutions subtitle of the ADA Transactions, a serial publication of the annual activities of the ADA House of Delegates (HOD)/Board of Trustees (BOT) made up of three separate subtitles: Annual Reports and Resolutions, Supplements, and Transactions. Generally, the ADA Transactions are published in multiple volumes throughout the year. Older versions include reports from all departments as subsections, while more recent versions include only those of councils, commissions, and committees.

Modeling Transaction Data Of Trade Direction And Estimation Of Probability Of Informed Trading, Anthony S. Tay, Christopher Ting, Yiu Kuen Tse, Mitch Warachka

Research Collection School Of Economics

This paper implements the Asymmetric AutoregressiveConditional Duration (AACD) model of Bauwens and Giot (2003) to analyzeirregularly spaced transaction data of trade direction, namely buy versus sellorders. We examine the influence of lagged transaction duration, lagged volumeand lagged trade direction on transaction duration and direction. Our resultsare applied to estimate the probability of informed trading (PIN) based on theEasley, Hvidkjaer and O’Hara (2002) framework. Unlike the Easley-Hvidkjaer-O’Hara model, which uses the daily aggregate number of buy and sellorders, the AACD model makes full use of transaction data and allows forinteractions between buy and sell orders.

Towards Efficient Computation Of Quality Bounded Solutions In Pomdps: Expected Value Approximation And Dynamic Disjunctive Beliefs, Pradeep Reddy Varakantham, Rajiv Maheswaran, Tapana Gupta, Milind Tambe

Research Collection School Of Computing and Information Systems

While POMDPs (partially observable markov decision problems) are a popular computational model with wide-ranging applications, the computational cost for optimal policy generation is prohibitive. Researchers are investigating ever-more efficient algorithms, yet many applications demand such algorithms bound any loss in policy quality when chasing efficiency. To address this challenge, we present two new techniques. The first approximates in the value space to obtain solutions efficiently for a pre-specified error bound. Unlike existing techniques, our technique guarantees the resulting policy will meet this bound. Furthermore, it does not require costly computations to determine the quality loss of the policy. Our second …

Realized Daily Variance Of S&P 500 Cash Index: A Revaluation Of Stylized Facts, Shirley Huang, Qianqiu Liu, Jun Yu

Research Collection School Of Economics

In this paper the realized daily variance is obtained from intraday transaction prices of the S&P 500 cash index over the period from January 1993 to December 2004. When constructing realized daily variance, market microstructure noise is taken into account using a technique proposed by Zhang, Mykland and Ait-Sahalia (2005). The time series properties of realized daily variance are compared with those of variance estimates obtained from parametric GARCH and stochastic volatility models. Unconditional and dynamic properties concerning the realized daily variance are examined, the relationship between realized variance and returns is investigated, and the stylized facts concerning realized daily …

2007 Supplement Vol. 2, American Dental Association

ADA Transactions

This item is part of the Supplements subtitle of The ADA Transactions, a serial publication of the annual activities of the ADA House of Delegates (HOD)/Board of Trustees (BOT) made up of three separate subtitles: Annual Reports and Resolutions, Supplements, and the Transactions. Generally, The ADA Transactions are published in multiple volumes throughout the year. The Supplements function like an appendix and are, in more recent editions, numbered separately with page numbers determined by HOD reference committee assignation. Items are described variously as "Supplement #", "Volume #", etc. throughout the series but have been labeled here as Vol. # for …

Jurisprudential Schizophrenia: On Form And Function In Islamic Finance, Haider Ala Hamoudi

Articles

Despite its explosive growth over the past several decades, Islamic finance continues to have trouble attracting large numbers of otherwise pious Muslims as potential investors. The underlying reason for this is that the means that the practice employs to circumvent some of the central Muslim bans relating to finance (most notably, the ban on interest) are entirely formal in their structure and are equivalent to conventional structures both legally and economically. However, the practice purports to serve functional ends; namely, through offering Muslims alternative means of finance that are intended to further Islamic ideals of fairness and social justice. This …

Muhammad's Social Justice Or Muslim Cant?: Langdellianism And The Failures Of Islamic Finance, Haider Ala Hamoudi

Articles

Though it is advertised and promoted as the bulwark of an alternative economic system based on populist Muslim notions of social justice and fairness, Islamic finance as a practice has failed to meet these objectives. The causes of that failure and the question of whether alternative approaches are possible are the subject of this Article.

The failure of Islamic finance to provide that which it promotes is the direct consequence of the application of an Islamic logic driven interpretive system through which rules are derived, which its adherents claim was formalized and systematized by the early jurist Muhammad Ibn Idris …

The Evolution Of The Disclosure Regime In Singapore, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Sustaining The Household In A Globalizing World: The Gendered Dynamics Of Business Travel In Singapore Households, Shirlena Huang, Brenda S. A. Yeoh, Paulin Tay Straughan

Research Collection School of Social Sciences

This article draws upon a large-scale survey as well as focus group discussions to examine how Singapore households grapple with the demands of participating in globalized work. It highlights the household as a site of analysis, where individuals engage with contemporary trends of globalisation in their daily lives. Specifically, this article examines the case of Singapore households where one or both spouses engage in business travel. The study (a) emphasises the need to focus on processes that bring about shorter-term transnational variations to a household's daily geographies and how household members negotiate these disruptions; and (b) demonstrates that the transnationalizing …

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 …

Real-Time Supply Chain Control Via Multi-Agent Adjustable Autonomy, Hoong Chuin Lau, Lucas Agussurja, Ramesh Thangarajoo

Research Collection School Of Computing and Information Systems

Real-time supply chain management in a rapidly changing environment requires reactive and dynamic collaboration among participating entities. In this work, we model supply chain as a multi-agent system where agents are subject to an adjustable autonomy. The autonomy of an agent refers to its capability to make and influence decisions within a multi-agent system. Adjustable autonomy means changing the autonomy of the agents during runtime as a response to changes in the environment. In the context of a supply chain, different entities will have different autonomy levels and objective functions as the environment changes, and the goal is to design …

A New Variance Ratio Test Of Random Walk In Emerging Markets: A Revisit, O. Al-Khazali, David K. Ding, C.S. Pyun

Research Collection Lee Kong Chian School Of Business

Using a nonparametric variance ratio (VR) test, we revisit the empirical validity of the random walk hypothesis in eight emerging markets in the Middle East and North Africa (MENA). After correcting for measurement biases caused by thin and infrequent trading prevalent in nascent and small stock markets, we cannot reject the random walk hypothesis for the MENA markets. We conclude that a nonparametric VR test is appropriate for emerging stock markets, and argue that our findings can reconcile previously contradictory results regarding the efficiency of MENA markets. [ABSTRACT FROM AUTHOR]

Transborder Industrialization In The Framework Of Singapore's Regionalization Strategy: The Case Of Singapore's Gambit In Vietnam, Caroline Yeoh, Victor Sim, Wilfred Pow Ngee How

Research Collection Lee Kong Chian School Of Business

Infrastructure can be unreliable and administration subject to corruption in Asia’s rapidly emerging economies. This context presented Singapore with unique opportunities to export its expertise to locations where these attributes are less certain, through the provision of superior infrastructure, the ability to negotiate investment concessions and, where existing, through the links to influential business groups in the investment location. This strategic initiative is further premised on the perception that Singapore’s positive reputation with multinationals, as well as ‘guanxi’, or connections, with Asian business networks, will give the industrial-township projects a marketing advantage. Their progress is a litmus test of Singapore’s …

Different Slopes For Different Folks: Self-Esteem Instability And Gender As Moderators Of The Relationship Between Self-Esteem And Attitudinal Aggression, G. Webster, L. Kirkpatrick, J. B. Nezlek, C. V. Smith, Elizabeth Layne Paddock

Research Collection Lee Kong Chian School Of Business

The present research examined the relationships among self-esteem level, temporal self-esteem instability, gender, and self-reported aggression. Self-esteem level was negatively related to attitudinal aggression, although this relationship varied as a joint function of self-esteem instability and gender. It was strongest among men with unstable self-esteem and among women with stable self-esteem. Although self-esteem instability and narcissism (Study 3) were each positively related to behavioral aggression, the relationship between narcissism and attitudinal aggression varied as a function of self-esteem instability. The relationship between narcissism and attitudinal aggression was positive among people with stable self-esteem, but negative among people with unstable self-esteem, …

Managing Change In Asian Business: A Comparison Between Chinese Educated And English Educated Chinese Entrepreneurs In Singapore, Thomas Menkhoff, Ulrike Badibanga, Yue Wah Chay

Research Collection Lee Kong Chian School Of Business

Against the background of the current rapidly changing business environment, the article examines the organizational change management behaviour of the owner-managers of small and medium sized enterprises (SMEs) in Singapore. The analysis of survey data is aimed at ascertaining whether there are any differences between Chinese and English educated small (ethnic Chinese) businessmen in terms of Change Management (CM), a dichotomy that is of great historical and politico-cultural significance in Singapore. The survey data show that there are indeed differences between the subgroups (eg with regard to the initiation of a more participatory people management style) but these variations turned …

Risky Debt-Maturity Choice Under Information Asymmetry, Chunchi Wu, Sheen Liu

Research Collection Lee Kong Chian School Of Business

The traditional equilibrium models of signaling with debt-maturity require transaction costs by firms when raising new capital. In this paper, we propose a new model that has no such requirement. We demonstrate that a separating equilibrium of debt-maturity choice exists under a much more general condition, once accounting for the interactions between borrowers and lenders. The model is able to explain the observed complex financial structure. It is found that callable debt functions much like short-term debt, and serial debt similar to long-term debt. In equilibrium, high-quality firms issue short-term debt, and low-quality firms issue long-term debt.

Integrated Crisis Mapping: Towards A Publics-Based, Emotion-Driven Conceptualization In Crisis Communication, Yan Jin, Augustine Pang, Glen T. Cameron

Research Collection Lee Kong Chian School Of Business

Extending current situation-based conceptualizations of crisis response, this paper develops a more generic and systemic approach tounderstanding the role of emotions in crisis situations. Taking an integrated approach, the authors propose a public-based, emotion-drivenperspective to crisis communication modeling, mapping different crisistypes, and underpinning them with two continua, the organization’s involvement with the crisis issue and primary public’s coping strategy. Thepaper further argues that the appropriate crisis response and tools tomanage a crisis should address the full range of emotions for optimal effectiveness at both strategic and tactical levels.

Contingency Theory: Strategic Management Of Conflict In Public Relations, Cameron, A. Pang, Yan Jin

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Towards A Holistic Framework In Fostering Spirituality At Work, Gilbert Tan

Research Collection Lee Kong Chian School Of Business

Management theories are shaped by the assumptions of man. The Scientific and Administrative School of Thoughts adopt a mechanistic view of human. The Human Relations School views humans as social beings. Spirituality at work looks at the spiritual side of the organization and views an as a spiritual being. This paper proposes a holistic framework to spirituality at work. Taking a systems approach the framework discusses how training, cultural and structural interventions directed the four sub-systems of the organization, namely, culture, leadership, structure and people, help to promote spirituality at work. The framework also discusses the organizational and individual outcomes …

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 …

On The Integration Of Production And Financial Hedging Decisions In Global Markets, Qing Ding, Lingxiu Dong, Panos Kouvelis

Research Collection Lee Kong Chian School Of Business

We study the integrated operational and financial hedging decisions faced by a global firm who sells to both home and foreign markets. Production occurs either at a single facility located in one of the markets or at two facilities, one in each market. The company has to invest in capacity before the selling season starts when the demand in both markets and the currency exchange rate are uncertain. The currency exchange rate risk can be hedged by delaying allocation of the capacity to specific markets until both the currency and demand uncertainties are resolved and/or by buying financial option contracts …