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Articles 1201 - 1230 of 6934
Full-Text Articles in Business
The Impact Of Innovation On The Performance Of Chinese Listed Companies, Shaoying Luo
The Impact Of Innovation On The Performance Of Chinese Listed Companies, Shaoying Luo
Dissertations and Theses Collection (Open Access)
Company innovation has significant consequences for the macroeconomic development of the nation as well as serving as a guide for the creation of innovation strategies at the micro level of enterprises. But because the mechanism linking R&D inputs to firm success has not been completely explored, findings for various samples and sample intervals have varied greatly. Therefore, using the data of listed companies in China from 2009 to 2017 as the research sample, this paper introduces mediating and moderating variables to empirically analyze the mediating effect of innovation output in the correlation between R&D input and firm performance and the …
Pricing And Quality Strategies For An On-Demand Housekeeping Platform With Customer-Intensive Services, Jianjun Yu, Yanli Fang, Yuanguang Zhong, Xiong Zhang, Ruijie Zhang
Pricing And Quality Strategies For An On-Demand Housekeeping Platform With Customer-Intensive Services, Jianjun Yu, Yanli Fang, Yuanguang Zhong, Xiong Zhang, Ruijie Zhang
Research Collection Lee Kong Chian School Of Business
In this paper, we study an on-demand housekeeping platform in which suppliers have hetero-geneous opportunity costs, and customers are sensitive to service quality, price, and waitingtime. The platform charges fees from customers and divides revenue with service suppliers ina certain proportion. We analyze two types of market coverage, namely full market coverageand partial market coverage. We find that as the potential demand market capacity expands,the platform will choose to lower prices to attract more customers and service suppliers until itreaches the partial market, thereby obtaining higher revenue, and suppliers will provide lowerquality services to serve more customers and thus obtain …
Neural-Progressive Hedging: Enforcing Constraints In Reinforcement Learning With Stochastic Programming, Supriyo Ghosh, Laura Wynter, Shiau Hong Lim, Duc Thien Nguyen
Neural-Progressive Hedging: Enforcing Constraints In Reinforcement Learning With Stochastic Programming, Supriyo Ghosh, Laura Wynter, Shiau Hong Lim, Duc Thien Nguyen
Research Collection School Of Computing and Information Systems
We propose a framework, called neural-progressive hedging (NP), that leverages stochastic programming during the online phase of executing a reinforcement learning (RL) policy. The goal is to ensure feasibility with respect to constraints and risk-based objectives such as conditional value-at-risk (CVaR) during the execution of the policy, using probabilistic models of the state transitions to guide policy adjustments. The framework is particularly amenable to the class of sequential resource allocation problems since feasibility with respect to typical resource constraints cannot be enforced in a scalable manner. The NP framework provides an alternative that adds modest overhead during the online phase. …
Joint Chance-Constrained Staffing Optimization In Multi-Skill Call Centers, Tien Thanh Dam, Thuy Anh Ta, Tien Mai
Joint Chance-Constrained Staffing Optimization In Multi-Skill Call Centers, Tien Thanh Dam, Thuy Anh Ta, Tien Mai
Research Collection School Of Computing and Information Systems
This paper concerns the staffing optimization problem in multi-skill call centers. The objective is to find a minimal cost staffing solution while meeting a target level for the quality of service (QoS) to customers. We consider a staffing problem in which joint chance constraints are imposed on the QoS of the day. Our joint chance-constrained formulation is more rational capturing the correlation between different call types, as compared to separate chance-constrained versions considered in previous studies. We show that, in general, the probability functions in the joint-chance constraints display S-shaped curves, and the optimal solutions should belong to the concave …
Artificial Intelligence In Financial Technology, Keng Siau, Fiona Fui-Hoon Nah, Brenda L. Eschenbrenner, Langtao Chen
Artificial Intelligence In Financial Technology, Keng Siau, Fiona Fui-Hoon Nah, Brenda L. Eschenbrenner, Langtao Chen
Research Collection School Of Computing and Information Systems
AI applications in health care, communications, and arts have brought about rapid and dramatic advances in these fields. Nevertheless, the rapidly expanding potential of AI in the economy and society has raised a set of challenging issues. The fields of AI and financial technology are not spared. How can artificial intelligence (AI) be utilized in financial technology (fintech)? What will be the impact? What actionable objectives are needed to realize value from AI? This research uses a systematic qualitative research methodology, Value-Focused Thinking, to identify the actionable objectives for deriving value from AI in the fintech industry. The results of …
Information Acquisition And Expected Returns: Evidence From Edgar Search Traffic, Frank Weikai Li, Chengzhu Sun
Information Acquisition And Expected Returns: Evidence From Edgar Search Traffic, Frank Weikai Li, Chengzhu Sun
Research Collection Lee Kong Chian School Of Business
This paper examines expected return information embedded in investors' information acquisition activity. Using a novel dataset containing investors' access of company filings through SEC's EDGAR system, we reverse engineer their expectations over future payoffs and show that the abnormal number of IPs searching for firms' financial statements strongly predict future returns. The return predictability stems from investors allocating more effort to firms with improving fundamentals and following exogeneous shock to underpricing. A long-short portfolio based on our measure of information acquisition activity generate monthly abnormal return of 80 basis points and does not reverse over the long-run.. In addition, 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 …
Cross-Industry Information Sharing Among Colleagues And Analyst Research, Allen Huang, An-Ping Lin, Amy Y. Zang
Cross-Industry Information Sharing Among Colleagues And Analyst Research, Allen Huang, An-Ping Lin, Amy Y. Zang
Research Collection School Of Accountancy
We identify a specific organizational resource in brokerage housesdinformation sharing among analyst colleagues who cover economically related industries along a supply chain. After controlling for brokerage selection effects, we show evidence consistent with the benefit of this resource to analyst research performance. Specifically, we find that analysts whose colleagues cover more economically connected industries have better research performance, especially when their colleagues produce higher-quality research. We further show that colleagues' coverage of downstream (upstream) industries is positively related to the accuracy of only analysts' revenue (expense) forecasts and that analysts and their highly connected colleagues tend to issue earnings forecast …
Exploring The Assetisation And Financialisation Of Non-Fungible Tokens: Opportunities And Regulatory Implications, Iris H. Y. Chiu, J.G. Allen
Exploring The Assetisation And Financialisation Of Non-Fungible Tokens: Opportunities And Regulatory Implications, Iris H. Y. Chiu, J.G. Allen
Research Collection Yong Pung How School Of Law
This article explores the emerging phenomenon of use cases for Non-fungible Tokens (NFTs) in novel forms of crypto-finance, a stage we call “NFT financialisation”, that can be developed from stages of consumption and commoditisation of NFTs, which are increasingly observed. Despite the emerging contests regarding property rights conferred by NFTs, the needs for commoditisation and financialisation in NFT markets would likely shape the delineation and framing of such rights in order for users to exploit the asset potential of NFTs. We argue that an institutional response is timely and beneficial for NFT financialisation. Financial regulatory governance can provide the institutions …
Accounting Scandals And Implications For Directors: Lessons From Enron, Pearl Hock-Neo Tan, Gillian Yeo
Accounting Scandals And Implications For Directors: Lessons From Enron, Pearl Hock-Neo Tan, Gillian Yeo
Research Collection School Of Accountancy
We analyze the Enron case to identify the risk factors that potentially led to its collapse and specific issues relating to its aggressive accounting and high-light the lessons for independent directors. In Enron, the interactions between external stimuli, strategies, corporate culture, and risk exposures possibly created an explosive situation that eventually led to its demise. Much of the post-Enron reforms have been directed towards regulating the roles and responsibilities of executive directors and auditors. However, the role of independent directors has received relatively lesser attention. Independent directors should analyze the risks of their companies and understand the pressures that arise …
Inflation Expectations Can Be A Self-Fulfilling Prophecy, Aurobindo Ghosh, Khyati Chauhan, Muskan Bagrodia
Inflation Expectations Can Be A Self-Fulfilling Prophecy, Aurobindo Ghosh, Khyati Chauhan, Muskan Bagrodia
Research Collection Lee Kong Chian School Of Business
In a commentary, SMU Assistant Professor of Finance (Education) Aurobindo Ghosh, SMU postgraduate student and Research Assistant for the SInDEx Project Muskan Bagrodia and International Monetary Fund Economic Research Assistant Khyati Chauhan weighed in on why inflation expectations matter as much as economic data. They discussed how inflation expectations can be a self-fulfilling prophecy, and shared the key takeaways of the quarterly DBS-Sim Kee Boon Institute’s Singapore Index of Inflation Expectations (DBS-SKBI SInDEx) survey. They concluded that effective communication on inflation control measures, in addition to credible policy decisions, will help consumers feel assured and refrain from basing purchasing decisions …
Dynamic Stochastic Matching Under Limited Time, Aouad Ali, Omer Saritac
Dynamic Stochastic Matching Under Limited Time, Aouad Ali, Omer Saritac
Research Collection Lee Kong Chian School Of Business
In centralized matching markets such as carpooling platforms and kidney exchange schemes, new participants constantly enter the market and remain available for potential matches during a limited period of time. To reach an efficient allocation, the "timing"of the matching decisions is a critical aspect of the platform's operations. There is a fundamental tradeoff between increasing market thickness and mitigating the risk that participants abandon the market. Nonetheless, the dynamic properties of matching markets have been mostly overlooked in the algorithmic literature. In this paper, we introduce a general dynamic matching model over edge-weighted graphs, where the agents' arrivals and abandonments …
A Comprehensive Examination Of The Cross-Validity Of Pareto-Optimal Versus Fixed-Weight Selection Systems In The Biobjective Selection Context., Wilfried De Corte, Filip Lievens, Paul R. Sackett
A Comprehensive Examination Of The Cross-Validity Of Pareto-Optimal Versus Fixed-Weight Selection Systems In The Biobjective Selection Context., Wilfried De Corte, Filip Lievens, Paul R. Sackett
Research Collection Lee Kong Chian School Of Business
The article presents evidence for the cross-validity potential of fixed-weight (FW) versus Pareto-Optimal (PO) selection systems in biobjective selection situations where both the goals of diversity and quality are valued and the importance of the goals is undecided a priori. The article extends previous research by also studying the cross-validity potential of selection systems in the practically most important sample-to-sample cross-validity scenario. We address three research questions: (a) Do different PO systems show comparable levels of relative (i.e., proportional) achievement upon cross-validation? (b) Do PO systems achieve higher levels of relative achievement upon cross-validation than FW selection systems?, and (c) …
Do Alpha Males Deliver Alpha? Facial Width-To-Height Ratio And Hedge Funds, Yan Lu, Melvyn Teo
Do Alpha Males Deliver Alpha? Facial Width-To-Height Ratio And Hedge Funds, Yan Lu, Melvyn Teo
Research Collection Lee Kong Chian School Of Business
An abundance of evidence relates facial width-to-height ratio (fWHR) to masculine behaviors in males. We show that hedge funds operated by high-fWHR managers underperform those operated by low-fWHR managers, bear greater downside risk, are more susceptible to fire sales, and fail more often. High-fWHR managers compensate for their underperformance by marketing their funds more aggressively, thereby garnering higher flows and fee revenues. By exploiting major personal events that shape testosterone, namely marriage and fatherhood, we trace the biological mechanism underlying the relation between fWHR and investment performance to circulating testosterone. Our findings are robust and extend to equity mutual funds.
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 …
Cryptocurrencies: Now What?, Wei Zhou, Fathurraman
Cryptocurrencies: Now What?, Wei Zhou, Fathurraman
Perspectives@SMU
New use cases could lead to wider adoption, but regulation and the transition to Web3 must be handled first
Proglove: Scan For Success, Singapore Management University
Proglove: Scan For Success, Singapore Management University
Perspectives@SMU
How an idea to save time on BMW’s assembly line became a global leader for wearable technology
Regulating The Fintech Space, Jing Yang, Patrick Thng, Zhu Juntao, Kell Jay Lim
Regulating The Fintech Space, Jing Yang, Patrick Thng, Zhu Juntao, Kell Jay Lim
Perspectives@SMU
China gets to grips with fintech but still frowns upon cryptocurrencies. Regulation, blockchain technology, and central bank digital currencies will be under the spotlight amidst the crypto crash
Did Twitter Deliberately Mislead Elon Musk In His Acquisition Bid?, Mark Humphery-Jenner
Did Twitter Deliberately Mislead Elon Musk In His Acquisition Bid?, Mark Humphery-Jenner
Perspectives@SMU
Elon Musk has officially ended his bid to acquire Twitter on the grounds that it misled the market in its disclosures, writes UNSW Business School's Mark Humphery-Jenner
China: The Next Big Market For Soft-Branded Hotels?, Elisa Ka-Yan Chan
China: The Next Big Market For Soft-Branded Hotels?, Elisa Ka-Yan Chan
Perspectives@SMU
A wave of deal-making in China’s hotel investment sector is expected to encourage more independent hotels to rebrand as chain affiliates
Entering Dystopia: Should Your Face Be The Key To Your Fate?, Shilpa Madan, Krishna Savani, Gita V. Johar
Entering Dystopia: Should Your Face Be The Key To Your Fate?, Shilpa Madan, Krishna Savani, Gita V. Johar
Research Collection Lee Kong Chian School Of Business
How would you feel if you were rejected from a job because you didn't look competent enough? Or if you were apprehended at a public place by the police because you looked like a criminal? Although these scenes sound dystopic and generate a sense of fear and anxiety, technology that claims that people's traits can be inferred from their faces already exists and is being used by businesses and governments worldwide.
Leveraging On A University-Industry Partnership Programme: How A Yearbook Publisher Can Pivot Its Operations In A New Normal, Yuanto Kusnadi, Benjamin Huan Zhou Lee, Gary Pan
Leveraging On A University-Industry Partnership Programme: How A Yearbook Publisher Can Pivot Its Operations In A New Normal, Yuanto Kusnadi, Benjamin Huan Zhou Lee, Gary Pan
Research Collection School Of Accountancy
The printing industry is a “sunset” industry that is currently undergoing massive changes, with digital transformation and sustainability being two key issues that the companies in these 2 industries have to face. In addition, the Covid-19 pandemic has hastened the pace of the changes that are taking place and companies have to make serious decisions that will affect their future survival in this industry. This article highlights how one printing solutions provider in Singapore can pivot its operations to be more sustainable in the new post-pandemic normal.
Communication In The Gig Economy: Buying And Selling In Online Freelance Marketplaces, Stephan Ludwig, Dennis Herhausen, Dhruv Grewal, Liliana Bove, Sabine Benoit, Ko De Ruyter, Peter Urwin
Communication In The Gig Economy: Buying And Selling In Online Freelance Marketplaces, Stephan Ludwig, Dennis Herhausen, Dhruv Grewal, Liliana Bove, Sabine Benoit, Ko De Ruyter, Peter Urwin
Research Collection Lee Kong Chian School Of Business
The proliferating gig economy relies on online freelance marketplaces, which support relatively anonymous interactions through text-based messages. Informational asymmetries thus arise that can lead to exchange uncertainties between buyers and freelancers. Conventional marketing thought recommends reducing such uncertainty. However, uncertainty reduction and uncertainty management theories indicate that buyers and freelancers might benefit more from balancing-rather than reducing-uncertainty, such as by strategically adhering to or deviating from common communication principles. With dyadic analyses of calls for bids and bids from a leading online freelance marketplace, this study reveals that buyers attract more bids from freelancers when they provide moderate degrees of …
Learning To Ask Critical Questions For Assisting Product Search, Zixuan Li, Lizi Liao, Tat-Seng Chua
Learning To Ask Critical Questions For Assisting Product Search, Zixuan Li, Lizi Liao, Tat-Seng Chua
Research Collection School Of Computing and Information Systems
Product search plays an essential role in eCommerce. It was treated as a special type of information retrieval problem. Most existing works make use of historical data to improve the search performance, which do not take the opportunity to ask for user’s current interest directly. Some session-aware methods take the user’s clicks within the session as implicit feedback, but it is still just a guess on user’s preference. To address this problem, recent conversational or question-based search models interact with users directly for understanding the user’s interest explicitly. However, most users do not have a clear picture on what to …
What, Why And How Financial Development Matters: Evidence Of Asean-5, Asia-5 And Oecd-7 Economies, Swee Liang Tan
What, Why And How Financial Development Matters: Evidence Of Asean-5, Asia-5 And Oecd-7 Economies, Swee Liang Tan
Research Collection School Of Economics
This paper analyzed the association between bank and capital markets financial development with income per capita in three regions; ASEAN-5 economies (Singapore, Malaysia, Thailand, Philippines, Indonesia), Asia-5 (Japan, China, Hong Kong SAR, South Korea, and India), and OECD-7 (Australia, Canada, Denmark, Norway, Sweden, UK, and US) from 2000 to 2017 using panel data regressions. A key lesson ASEAN-5 can learn from Asia-5 and OECD-7 experience is that bank size does matter despite digital disruptions to their banking system; yet large financial structure that favors banks is negatively associated with Asia-5, and importantly, efficient banking system (not bank size alone) is …
Eradicating Malaria: Innovation Diffusion In The Face Of Grand Challenges, Han Jiang, Hao Liang, Dongning Yang
Eradicating Malaria: Innovation Diffusion In The Face Of Grand Challenges, Han Jiang, Hao Liang, Dongning Yang
Research Collection Lee Kong Chian School Of Business
What is the role of organizational innovation—beyond technological innovation—in an era of grand challenges concerning health, poverty, and economic development around the world? How is organizational innovation developed and diffused to influence resource allocation in the field? We conduct a qualitative case study by analyzing a Chinese pharmaceutical firm’s efforts to combat malaria in Africa over 10 years. Through documentation and extensive interviews, we study the role of innovation diffusion and resource allocation to address grand challenges in emerging markets with significant institutional voids. Our conceptual model delineates the different stages of innovation diffusion to show how organizations can draw …
Contracting With Controllable Risk, Christopher S. Armstrong, Stephen A. Glaeser, Sterling Huang
Contracting With Controllable Risk, Christopher S. Armstrong, Stephen A. Glaeser, Sterling Huang
Research Collection School Of Accountancy
We examine how executives' ability to control their firms' exposure to risk affects the design of their incentive-compensation contracts. Our natural experimental evidence shows that exchange-traded weather derivatives allow executives to control their firms' exposure to weather risk. Once these derivatives became available, those executives who use them to hedge experience relative reductions in their total compensation and equity incentives. The decline in compensation is consistent with a reduction in the risk premium that executives receive for exposure to weather risk. The decline in equity incentives is consistent with the relation between risk and incentives shifting in a complementary direction …
Countercyclical Marketing During Recessions, Nirmalya Kumar
Countercyclical Marketing During Recessions, Nirmalya Kumar
Research Collection Lee Kong Chian School Of Business
Nirmalya Kumar argues that during recessions, firms should fight against their instinct to reduce marketing outlays. Instead, a large body of academic research demonstrates that firms investing in countercyclical marketing perform better both during, and immediately after, the economic downturn.
Values Assessment For Personnel Selection: Comparing Job Applicants To Non-Applicants, Jeromy Anglim, Karlyn Molloy, Patrick D. Dunlop, Simon L. Albrecht, Filip Lievens, Marty Andrew
Values Assessment For Personnel Selection: Comparing Job Applicants To Non-Applicants, Jeromy Anglim, Karlyn Molloy, Patrick D. Dunlop, Simon L. Albrecht, Filip Lievens, Marty Andrew
Research Collection Lee Kong Chian School Of Business
Some scholars suggest that organizations could improve their hiring decisions by measuring the personal values of job applicants, arguing that values provide insights into applicants’ cultural fit, retention prospects, and performance outcomes. However, others have expressed concerns about response distortion and faking. The current study provides the first large-scale investigation of the effect of the job applicant context on the psychometric structure and scale means of a self-reported values measure. Participants comprised 7,884 job applicants (41% male; age M = 43.32, SD = 10.76) and a country-, age-, and gender-matched comparison sample of 1,806 non-applicants (41% male; age M = …
Oil Price Shocks And Stock Market Anomalies, Zhaobo Zhu, Licheng Sun, Jun Tu, Qiang Ji
Oil Price Shocks And Stock Market Anomalies, Zhaobo Zhu, Licheng Sun, Jun Tu, Qiang Ji
Research Collection Lee Kong Chian School Of Business
This paper provides a novel perspective to the nexus of oil prices and stock markets by examining the impact of oil price shocks on stock market anomalies. After decomposing oil price shocks into three types , we find that aggregate demand shocks have the strongest influence on stock market anomalies. In contrast, oil supply shocks and oil-specific demand shocks have little impact. Similar results are also found in the industry analysis. Interestingly, the link between aggregate demand shocks and anomalies is the strongest among firms with either small size or high idiosyncratic risks. The documented effects are robust after controlling …