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Full-Text Articles in Business

The Impact Of The Ifrs 9 Expected Loss Approach On Accounting Conservatism, Clarence Goh, Chu Yeong Lim, Kevin Ow Yong Dec 2021

The Impact Of The Ifrs 9 Expected Loss Approach On Accounting Conservatism, Clarence Goh, Chu Yeong Lim, Kevin Ow Yong

Research Collection School Of Accountancy

Using an experimental setting, this paper examines the impact of the International Financial Reporting Standard (IFRS 9) expected credit loss (ECL) approach on accounting conservatism. The ECL approach enables banks to incorporate loan loss provisions (LLP) on a timelier basis and help bank regulators anticipate weaknesses in banks’ loan portfolios. Conversely, the ECL model could be more susceptible to managerial discretion. More conservative bank managers might make excessivecredit provisions. Our findings show that high conservatism is positively associated with higher levels of LLP. In addition, the effect of accounting conservatism is contingent upon the type of loan loss model. We …

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The Power Of Renegotiation And Monitoring In Software Outsourcing: Substitutes Or Complements?, He Huang, Minhui Hu, Robert J. Kauffman, Hongyan Xu Dec 2021

The Power Of Renegotiation And Monitoring In Software Outsourcing: Substitutes Or Complements?, He Huang, Minhui Hu, Robert J. Kauffman, Hongyan Xu

Research Collection School Of Computing and Information Systems

Monitoring and contract renegotiation are two common solutions for addressing information asymmetry and uncertainty between a client and a vendor of software outsourcing services. Monitoring is mostly applied in time-and-materials contracts, as a basis for inspecting and reimbursing the vendor’s efforts in system development. Renegotiation, by contrast, is deployed in fixed-price and time-and-materials contracts to mitigate the loss of surplus from uncertainty after system development. We investigate the interaction between monitoring and renegotiation and examine the corresponding contract choice problem. We find that the client benefits from renegotiation based on two effects: an uncertainty-resolution effect and a post-development incentive effect, …

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Practical Studies Of Brand Management Based On The Factor Of Consumer Values, Ke Chen, Dec 2021

Practical Studies Of Brand Management Based On The Factor Of Consumer Values, Ke Chen,

Dissertations and Theses Collection (Open Access)

2021 will be the final year of the centenary goal of “building a moderately prosperous society in all respects”. Looking back over the past century, China has not only witnessed an increase in national income, but also ushered in abundant changes in social culture and people's spiritual world, and completed the transformation from a traditional single homogeneous cultural society to a flexible and diverse heterogeneous cultural society. In this process, brands become the product of values change and multicultural shock, and consumers shop not only to meet the needs of material functions, but also to express their personal values. To …

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Research On The Impact Of Social Responsibility Of Chinese Real Estate Enterprises On Their Competitiveness, Yajiang Xing Dec 2021

Research On The Impact Of Social Responsibility Of Chinese Real Estate Enterprises On Their Competitiveness, Yajiang Xing

Dissertations and Theses Collection (Open Access)

The real estate industry has become the pillar industry of China's national economy and should perform more social responsibilities. Then how to guide enterprises to perform relevant social responsibilities, how to make full use of social responsibilities to enhance enterprise competitiveness, and how to measure the aspects in which corporate social responsibility promotes the development of competitiveness have aroused the discussion and research of the government and relevant academic circles.Therefore, this paper first puts forward a series of assumptions from the perspective of stakeholders.Secondly, establish the evaluation index system of social responsibility and social competitiveness of real estate enterprises through …

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Executive Tweets, Richard M.Crowley, Wenli Huang, Hai Lu Dec 2021

Executive Tweets, Richard M.Crowley, Wenli Huang, Hai Lu

Research Collection School Of Accountancy

We explore the tweeting behavior of S&P 1500 firms’ executives (CEOs and CFOs) and its market consequences during the period of 2011 to 2018. We document that executives tweet financial information related to their firms and time these tweets to firms’ major events, and that investors respond to executive tweets in addition to firm tweets. Using the latest machine learning techniques, we develop an innovative construct measuring the content similarity between executive tweets and firm tweets. We use this measure to disentangle whether the market reaction comes from new information or trust. We show evidence consistent with the view that …

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Beyond Shareholder Value? Why Firms Voluntarily Disclose Support For Black Lives Matter, A. J. Chen, Patricia M. Dechow, Samuel T. Tan Dec 2021

Beyond Shareholder Value? Why Firms Voluntarily Disclose Support For Black Lives Matter, A. J. Chen, Patricia M. Dechow, Samuel T. Tan

Research Collection School Of Accountancy

We investigate why firms voluntarily disclose support for the Black Lives Matter movement (BLM firms) even though these disclosures have little impact on shareholder value. We examine two competing explanations: that managers are acting in the interests of a broad set of stakeholders, or that they are engaging in “woke-washing.” Our evidence supports the stakeholder perspective since we find that BLM firms have more inclusive cultures on multiple dimensions – from their board members, to employees, to the rights of shareholders, and to the compensation structure of top executives. Furthermore, BLM firms face less risk in speaking out since they …

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Vat Treatment Of The Financial Services: Implications For The Real Economy, Ismail Baydur, Fatih Yilmaz Dec 2021

Vat Treatment Of The Financial Services: Implications For The Real Economy, Ismail Baydur, Fatih Yilmaz

Research Collection School Of Economics

Financial institutions are exempt from the value-added tax (VAT) in most countries. We develop a general equilibrium model with endogenous firm entry and a banking sector to accommodate three key distortions related to exempt treatment: (i) self-supply bias in the banking sector, (ii) under-taxation of payment services, and (iii) input distortions in the business sector and tax cascading. We calibrate our model to the average of Germany, France, and the UK data. Our results show that repealing exempt treatment always increases tax revenues. However, welfare gains occur only at low VAT rates due to the hump-shaped VAT Laffer curve.

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Cross-Cryptocurrency Return Predictability, Li Guo, Bo Sang, Jun Tu, Yu Wang Dec 2021

Cross-Cryptocurrency Return Predictability, Li Guo, Bo Sang, Jun Tu, Yu Wang

Research Collection Lee Kong Chian School Of Business

Using the minute-frequency data on Binance, we find strong evidence of cross-cryptocurrency return predictability. The lagged returns of other cryptocurrencies serve as significant predictors of focal cryptocurrencies up to ten minutes, in line with slow information diffusion. The results are robust across various methods, including the adaptive LASSO and principal component analysis. Furthermore, a long-short portfolio formed on the past returns of cryptocurrencies can generate a daily return of 2.16% out-of-sample after accounting for transaction costs, indicating sizable economic value of cross-cryptocurrency return predictability.

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Harnessing Digitalization For Sustainable Economic Development: Insights For Asia, John Beirne, David Fernandez Dec 2021

Harnessing Digitalization For Sustainable Economic Development: Insights For Asia, John Beirne, David Fernandez

Research Collection Lee Kong Chian School Of Business

Digitalization has helped to transform economies by enhancing competitiveness and productivity across a wide range of sectors. The use of big data and the rise of online platforms have accelerated this process over the past decade. In addition, the adoption of digital solutions in the face of social distancing and lockdown measures introduced due to the coronavirus disease 2019 (COVID-19) pandemic has been integral to the economic recovery process. The shift to a digitalized economy has also reduced barriers to market entry for firms, lowered inequality, and led to a promotion of social and economic inclusion. Advances in digital technology …

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Follow The Smoke: The Pollution Haven Effect On Global Sourcing, Heather Berry, Aseem Kaul, Narae Lee Dec 2021

Follow The Smoke: The Pollution Haven Effect On Global Sourcing, Heather Berry, Aseem Kaul, Narae Lee

Research Collection Lee Kong Chian School Of Business

Research abstract: We examine whether and how foreign environmental standards influence global sourcing decisions. Taking a question-driven approach, we find a negative association between the stringency of a country's environmental standards and its share in US imports for 82 manufacturing industries across 77 countries between 2006 and 2016. This pollution haven effect holds not only for sourcing from owned foreign operations (offshore integration), but also for sourcing from unrelated third parties abroad (offshore outsourcing), and is stronger in industries with high toxic emissions and low technological intensity. These results are robust across alternative measures of environmental stringency and to using …

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China And E-Commerce: The Long And Winding Road, Henry S. Gao Dec 2021

China And E-Commerce: The Long And Winding Road, Henry S. Gao

Research Collection Yong Pung How School Of Law

Although it joined the World Trade Organization in 2001, China has largely kept silent on the e-commerce discussion and only made its first submission in this regard in 2016.

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Bundled Earnings Guidance And Analysts' Forecast Revisions, Charles Hsu, Rencheng Wang Dec 2021

Bundled Earnings Guidance And Analysts' Forecast Revisions, Charles Hsu, Rencheng Wang

Research Collection School Of Accountancy

Bundling managerial earnings guidance with quarterly earnings announcements (EAs) has become an increasingly common practice. This study investigates the impact of bundled guidance on analysts' forecast revisions. Our findings indicate that analysts respond more to bundled guidance than non-bundled guidance. This effect increases with analysts' time pressure and cognitive constraints around the EA. Analysts' revisions also incorporate more of the bundled management guidance when accompanied by additional information, such as conference calls. We further find that analysts revise their forecasts more quickly following bundled guidance than non-bundled guidance. Together, these findings are consistent with the notion that analysts place more …

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The Curse Of The Original: How And When Heritage Branding Reduces Consumer Evaluations Of Enhanced Products, Minju Han, George E. Newman, Rosanna K. Smith, Ravi Dhar Dec 2021

The Curse Of The Original: How And When Heritage Branding Reduces Consumer Evaluations Of Enhanced Products, Minju Han, George E. Newman, Rosanna K. Smith, Ravi Dhar

Research Collection Lee Kong Chian School Of Business

Heritage branding is a common marketing strategy that has been shown to increase product appeal. Here, we find that certain forms of heritage branding can also have potentially negative consequences by leading consumers to react negatively to changes made to the brand’s original, flagship product—even if those changes objectively improve it. We demonstrate that when firms engage in heritage branding that emphasizes a brand’s longevity, consumers evaluate enhanced products less favorably than the original versions of those same products due to decreased perceptions of continuity authenticity. We demonstrate this effect across a variety of product domains (e.g., cosmetics, cookware, and …

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Toward A Model Of Hardiness Development: The Effect Of Hope On Hardiness, Chin Heng Low, Paul Heng Leong Lim, Kevin Koh Dec 2021

Toward A Model Of Hardiness Development: The Effect Of Hope On Hardiness, Chin Heng Low, Paul Heng Leong Lim, Kevin Koh

Research Collection Lee Kong Chian School Of Business

Hardiness has been proven to help with the management of psychological stress. It is an important state-like personality dimension that individuals can develop to cope with stressors. However, there is currently insufficient understanding on why hardiness develops in people. Through an exploratory study based on 55 undergraduate university students who worked on an international consulting project in return for grades, this research examines the relationship between individuals’ hardiness components of commitment, control and challenge and hope components of willpower and waypower. It is found that individuals’ hope components may be positively related to specific hardiness components. This bears considerable theoretical …

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Leveraging Reward-Based Crowdfunding During Covid-19, Hannah H. Chang, Erin Jasmine Guillermo, Colin Chai Dec 2021

Leveraging Reward-Based Crowdfunding During Covid-19, Hannah H. Chang, Erin Jasmine Guillermo, Colin Chai

Research Collection Lee Kong Chian School Of Business

Over the last year, Singapore firms have faced unforeseen market disruptions created by the Covid-19 pandemic. Worldwide country lockdowns, supply chain disruptions, and restrictions on business operations due to public health and safety measures posed non-trivial challenges. Many companies scampered to find alternative sources of revenue and ramp up their efforts at digitalisation - or risk the possibility of business closure.

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Functional Signatures: New Definition And Constructions, Qingwen Guo, Qiong Huang, Sha Ma, Meiyan Xiao, Guomin Yang, Willy Susilo Dec 2021

Functional Signatures: New Definition And Constructions, Qingwen Guo, Qiong Huang, Sha Ma, Meiyan Xiao, Guomin Yang, Willy Susilo

Research Collection School Of Computing and Information Systems

Functional signatures (FS) enable a master authority to delegate its signing privilege to an assistant. Concretely, the master authority uses its secret key sk(F) to issue a signing key sk(f) for a designated function f is an element of F-FS and sends both f and sk(f) to the assistant E, which is then able to compute a signature sigma(f) with respect to pk(F) for a message y in the range of f. In this paper, we modify the syntax of FS slightly to support the application scenario where a certificate of authorization is necessary. Compared with the original FS, our …

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Spurring Digital Transformation In Singapore's Legal Industry, Xin Juan Chua, Steven M. Miller Dec 2021

Spurring Digital Transformation In Singapore's Legal Industry, Xin Juan Chua, Steven M. Miller

Research Collection School Of Computing and Information Systems

COVID-19 has transformed the way we live and work. It has caused the processes and operations of businesses and organisations to be restructured, as well as transformed business models. A 2020 McKinsey Global survey reported that companies all over the world claim they have accelerated the digitalisation of their customer and supply-chain interactions, as well as their internal operations, by three to four years. They also said they thought the share of digital or digitally enabled products in their portfolios has advanced by seven years. While technology transformation is not new to the legal profession, COVID-19 has cemented the importance …

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Popular: Still Singapore’S Favourite Bookstore, Singapore Management University Nov 2021

Popular: Still Singapore’S Favourite Bookstore, Singapore Management University

Perspectives@SMU

Popular is evolving into an omni-channel retailer to improve its customer experience

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Pivot Or Perish: The Retail Reality, Anne Lepissier, Ryan Vaughan, Shantanu Bhattacharya Nov 2021

Pivot Or Perish: The Retail Reality, Anne Lepissier, Ryan Vaughan, Shantanu Bhattacharya

Perspectives@SMU

Brick-and-mortar retailers are adapting to meet the challenges posed by accelerating e-commerce adoption. Some are doing better than others, but supply chain obstacles could prove decisive

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Entrepreneurship And The Great Chinese Urban Migration, Singapore Management University Nov 2021

Entrepreneurship And The Great Chinese Urban Migration, Singapore Management University

Perspectives@SMU

A recent research study finds that rural migrants in China are likely to establish bigger companies and universities in big cities can serve as talent importers

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Sustainably Feeding The World In The 21st Century, Ren Hua Ho, Husodo Angkosubroto, Oi Hian Lee Nov 2021

Sustainably Feeding The World In The 21st Century, Ren Hua Ho, Husodo Angkosubroto, Oi Hian Lee

Perspectives@SMU

Managing investor expectation, exploiting low-hanging fruit, and farmer education will be key

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Why Facebook's Meta-Morphosis Won't Fix Ethics Headache, Rob Nicholls Nov 2021

Why Facebook's Meta-Morphosis Won't Fix Ethics Headache, Rob Nicholls

Perspectives@SMU

Facebook is under fire (again) for its questionable business ethics – what exactly did it do wrong and what will happen as a result?

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The Procrustean Bed Revisited: Ways To Scale 'Physical Service' Platforms, Prakash Bagri Nov 2021

The Procrustean Bed Revisited: Ways To Scale 'Physical Service' Platforms, Prakash Bagri

Asian Management Insights

The course of their growth and extension never did run smooth.

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The Global Chinese Consumer, Rane Xue, Xiaolei Gu Nov 2021

The Global Chinese Consumer, Rane Xue, Xiaolei Gu

Asian Management Insights

At the forefront of growth in the luxury goods market.

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Getting The Best Of Both Worlds, Steven Burton, Janice Wong Nov 2021

Getting The Best Of Both Worlds, Steven Burton, Janice Wong

Asian Management Insights

Pair a technical expert with a generalist for successful change management.

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Luxury Back In Vogue, Erwan Rambourg Nov 2021

Luxury Back In Vogue, Erwan Rambourg

Asian Management Insights

The luxury rebound following the Covid-19 pandemic has been more impressive than most would have thought. Scale continues to play an important role, physical stores are back, and while there are some clouds on the horizon, the outlook for the luxury sector remains incredibly positive for the long term. My optimistic outlook for the long term is predicated on the power of three consumer segments that will move the needle for the luxury sector–women, Chinese shoppers, and youth. In addition, the rapid speed of scaling-up and mergers and acquisitions (M&A) should provide a great boost to a post-Covid luxury world.

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Start Small. Do It Well. Then Expand Your Offerings., Binny Bansal Nov 2021

Start Small. Do It Well. Then Expand Your Offerings., Binny Bansal

Asian Management Insights

An interview with Binny Bansal. Binny Bansal, co-founder of Flipkart, and co-founder and executive chairman of xto10x, talks about his entrepreneurial journey in the world of e-commerce.

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Asia Embraces Digital Currency And Cryptocurrency, David Kuo Chen Lee Nov 2021

Asia Embraces Digital Currency And Cryptocurrency, David Kuo Chen Lee

Asian Management Insights

A decade ago, everyone was sceptical about cryptocurrency. Today, Asian governments are harnessing its technology to raise payment efficiency and improve financial inclusion. Initially, the technology was advocated and harnessed by ‘cypherpunks’, that is, individuals who advocate the use of cryptography and other strong encryption technologies to promote social and political change. At that time, being a cypherpunk meant standing on the opposite side of the government; today, I see cypherpunks, otherwise more appropriately known as cryptopunks, working closely with governments.

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Mediate, Not Litigate, To Resolve Disputes, Aloysius Goh, Terence Quek Nov 2021

Mediate, Not Litigate, To Resolve Disputes, Aloysius Goh, Terence Quek

Asian Management Insights

Mediation is essentially a facilitated negotiation process. When businesses have a dispute they cannot resolve on their own, they seek a neutral third party to help confidentially. This mediator has no power to impose a binding outcome on the parties. Rather, his or her responsibility is to facilitate the negotiation and use problem-solving skills to guide the parties towards a mutually agreed solution through a face saving and pragmatic process. In many jurisdictions, including Singapore, parties are required to attempt mediation first before courts hear the matter. Refusing to engage in mediation without proper reason may lead to cost sanctions …

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Smart Manufacturing And Its Implications For Singapore's Smes, Thomas Menkhoff, Surianarayanan Gopalakrishnan Nov 2021

Smart Manufacturing And Its Implications For Singapore's Smes, Thomas Menkhoff, Surianarayanan Gopalakrishnan

Research Collection Lee Kong Chian School Of Business

While Covid-19 and the climate catastrophe continue to make headlines, local small and medium-sized enterprises (SMEs) are quietly setting the gears of Smart Manufacturing in motion with a strategic focus on digitising and automating production processes powered by "Industry 4.0" (I4.0) ready business models. A shared view among several interviewees we talked to recently in the context of an ongoing study on the impact of I4.0 on the business models of local manufacturers is that Industrial Internet-of-Things (IIoT), machine learning, visual computing, automation and digital twining are deemed of great importance for the long-term competitiveness of Singapore's manufacturing ecosystem on …

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