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Full-Text Articles in Business

Robust And Ethical Data Governance Critical To Growth In Digital Age, Themin Suwardy, Melvin Yong Sep 2021

Robust And Ethical Data Governance Critical To Growth In Digital Age, Themin Suwardy, Melvin Yong

Research Collection School Of Accountancy

With increasing digitalisation, and companies collecting an ever-increasing amount of their customer and business data, organisations have to become more accountable to stakeholders such as regulators, customers and investors on the issue of data. Observers say expectations are also increasing, with incidents of data breaches capturing much media attention. Just as corporate governance encompasses more than just compliance, experts say data governance is more than just data protection and security but also about creating value.


How Xiaomi Redefined What It Means To Be A Platform, Tony W. Wong, Yanting Guo, Liang Chen Sep 2021

How Xiaomi Redefined What It Means To Be A Platform, Tony W. Wong, Yanting Guo, Liang Chen

Research Collection Lee Kong Chian School Of Business

Traditional platform businesses generally fall into one of two categories: Ecosystems, such as Apple’s App Store, which offer limited resources to a wide array of independently-run firms; and Corporate Venture Capital (CVC) companies, such as Intel Capital, which invest heavily into a small number of ventures that promise either financial or strategic returns. However, new research into Xiaomi’s growth strategy suggests that the Beijing-based electronics giant has developed a blended approach, borrowing elements of both traditional ecosystem and CVC firms to create a broad ecosystem of strongly-supported partner ventures. Based on a series of in-depth interviews with executives from both …


The 2021 Ipr Future Of Communications In Asia Report, Sarah Crawshaw, Alexis B. Fitzsimmons, Tina Mccorkindale, Pang, A., Stephen Thomas, Su Lin Yeo Sep 2021

The 2021 Ipr Future Of Communications In Asia Report, Sarah Crawshaw, Alexis B. Fitzsimmons, Tina Mccorkindale, Pang, A., Stephen Thomas, Su Lin Yeo

Research Collection Lee Kong Chian School Of Business

IPR interviewed 27 senior communications executives who work for Asian-headquartered companies, specifically in mainland China, Hong Kong SAR, Japan, South Korea, Thailand, Singapore and India, through February 2020. Interviews were transcribed and a thematic analysis was conducted. In light of the COVID-19 pandemic, IPR conducted follow-up focus groups with nearly 20 senior communications leaders in Asia in November and December 2020 to better understand the long-term impact of the pandemic on communications in the region. These sessions were conducted according to Chatham House rules, so the participants’ identifiers have been removed.


We Are On The Way: Analysis Of On-Demand Ride-Hailing Systems, Guiyun Feng, Guangwen Kong, Zizhuo Wang Sep 2021

We Are On The Way: Analysis Of On-Demand Ride-Hailing Systems, Guiyun Feng, Guangwen Kong, Zizhuo Wang

Research Collection Lee Kong Chian School Of Business

Problem definition: Recently, there has been a rapid rise of on-demand ride-hailing platforms, such as Uber and Didi, which allow passengers with smartphones to submit trip requests and match them to drivers based on their locations and drivers’ availability. This increased demand has raised questions about how such a new matching mechanism will affect the efficiency of the transportation system—in particular, whether it will help reduce passengers’ average waiting time compared with traditional street-hailing systems. Academic/practical relevance: The on-demand ride-hailing problem has gained much academic interest recently. The results we find in the ride-hailing system have a significant …


Habitual Entrepreneurship In Digital Platform Ecosystems: A Time-Contingent Model Of Learning From Prior Software Project Experiences, Terence Fan, Andreas Schwab, Xuesong Geng Sep 2021

Habitual Entrepreneurship In Digital Platform Ecosystems: A Time-Contingent Model Of Learning From Prior Software Project Experiences, Terence Fan, Andreas Schwab, Xuesong Geng

Research Collection Lee Kong Chian School Of Business

The emergence of large-scale digital platforms such as Facebook, Google Play and Apple App Store around 2008 has created opportunities for independent entrepreneurs to offer their self-developed software applications (“apps”) to large groups of platform users. The development and release of tens of thousands of apps by thousands of independent developers has created dynamic entrepreneurial ecosystems. This paper investigates whether and how learning by independent habitual entrepreneurs unfolds in substantively different ways in such dynamic platform-based environments. We argue that in these entrepreneurial ecosystems, the timing of learning efforts becomes essential. For Facebook app developers, we find that learning from …


Towards Better Data Augmentation Using Wasserstein Distance In Variational Auto-Encoder, Zichuan Chen, Peng Liu Sep 2021

Towards Better Data Augmentation Using Wasserstein Distance In Variational Auto-Encoder, Zichuan Chen, Peng Liu

Research Collection Lee Kong Chian School Of Business

VAE, or variational auto-encoder, compresses data into latent attributes, and generates new data of different varieties. VAE based on KL divergence has been considered as an effective technique for data augmentation. In this paper, we propose the use of Wasserstein distance as a measure of distributional similarity for the latent attributes, and show its superior theoretical lower bound (ELBO) compared with that of KL divergence under mild conditions. Using multiple experiments, we demonstrate that the new loss function exhibits better convergence property and generates artificial images that could better aid the image classification tasks.


Quantum Computing For Supply Chain Finance, Paul R. Griffin, Ritesh Sampat Sep 2021

Quantum Computing For Supply Chain Finance, Paul R. Griffin, Ritesh Sampat

Research Collection School Of Computing and Information Systems

Applying quantum computing to real world applications to assess the potential efficacy is a daunting task for non-quantum specialists. This paper shows an implementation of two quantum optimization algorithms applied to portfolios of trade finance portfolios and compares the selections to those chosen by experienced underwriters and a classical optimizer. The method used is to map the financial risk and returns for a trade finance portfolio to an optimization function of a quantum algorithm developed in a Qiskit tutorial. The results show that whilst there is no advantage seen by using the quantum algorithms, the performance of the quantum algorithms …


Doubling Down On Asia, Olivier Lim, Arif P. Rachmat, David Su Aug 2021

Doubling Down On Asia, Olivier Lim, Arif P. Rachmat, David Su

Perspectives@SMU

COVID-19 has inflicted major pain on Asian economies but the effects on countries and sectors are not uniform. The tech sector in China could yet present investment opportunities


Innovating In The Digital Economy, Arnoud De Meyer Aug 2021

Innovating In The Digital Economy, Arnoud De Meyer

Perspectives@SMU

It is all about creating and capturing value, building networks, and scaling up quickly


Why The Workplace Chameleon Is A Paradox For Diversity And Inclusion, Singapore Management University Aug 2021

Why The Workplace Chameleon Is A Paradox For Diversity And Inclusion, Singapore Management University

Perspectives@SMU

Do employees need to be like chameleons to survive certain corporate cultures, despite the best efforts of diversity and inclusion initiatives?


Building A Courier Service Company With It, Singapore Management University Aug 2021

Building A Courier Service Company With It, Singapore Management University

Perspectives@SMU

XDel Singapore spent on sophisticated technology even while it was small. Its growth post-investment looks like money well-spent


Celebrating A Milestone: 20th Anniversary Achievement Highlights [School Of Accountancy], Singapore Management University Aug 2021

Celebrating A Milestone: 20th Anniversary Achievement Highlights [School Of Accountancy], Singapore Management University

SMU Corporate Reports

The book “Celebrating a Milestone 20th Anniversary Achievement Highlights” was published in August 2021 to commemorate SoA’s 20th Anniversary as well as the 15th Anniversary of the Master of Professional Accounting Programme. The book documents the achievements and key milestones in SoA’s history.


Public Audit Oversight And The Originate-To-Distribute Model, Daniel Aobdia, Yiwei Dou, Jungbae Kim Aug 2021

Public Audit Oversight And The Originate-To-Distribute Model, Daniel Aobdia, Yiwei Dou, Jungbae Kim

Research Collection School Of Accountancy

The originate-to-distribute (OTD) model, in which the originators of mortgages sell or securitize the mortgages to third parties, likely contributed to the 2008 financial crisis. Auditors were blamed for permitting clients to understate the risks of the model in their financial reports, fostering undisciplined lending. We investigate whether public audit oversight influences OTD lending by promoting more vigilant audits of the financial reports of originators. Using a difference-in-differences design prior to the financial crisis, we find reduced OTD lending by banks after the Public Company Accounting Oversight Board (PCAOB) criticizes their auditors’ audits of financial reports regarding OTD transactions. The …


Can Employers Justify Paying Workers Who Return To The Office More Than Those Who Work From Home?, Jared Nai Aug 2021

Can Employers Justify Paying Workers Who Return To The Office More Than Those Who Work From Home?, Jared Nai

Research Collection Lee Kong Chian School Of Business

Employers have strong grounds to do so but should avoid differentiating for wrong reasons like presenteeism, Singapore Management University’s Jared Nai says.


Managerial Liability And Corporate Innovation: Evidence From A Legal Shock, Yuguan Guan, Liandong Zhang, Liu Zheng, Hong Zou Aug 2021

Managerial Liability And Corporate Innovation: Evidence From A Legal Shock, Yuguan Guan, Liandong Zhang, Liu Zheng, Hong Zou

Research Collection School Of Accountancy

Despite a longstanding debate over the pros and cons of imposing legal liability on directors and officers (D&Os), there is limited evidence on how D&O liability affects corporate innovation. We study this question by exploiting Nevada's 2001 corporate law change that dramatically lowered D&O legal liability and helped Nevada become the second most popular state for out-of-state incorporations. We find that firms incorporated in Nevada exhibit an increase in innovation outputs relative to matched control firms after the law change, particularly firms facing higher litigation risk or operating in more innovative industries. The results are driven mainly by exchange-listed firms …


Skbi Big 5 Survey 2021 August, Singapore Management University Aug 2021

Skbi Big 5 Survey 2021 August, Singapore Management University

Sim Kee Boon Institute for Financial Economics

The latest survey results convey an upshift in growth projections of the five largest economies in aggregate accompanied by higher inflation, especially this year and to a lesser extent next year. The aggregate “Big5” median real GDP growth projections for 2021 and 2022 were raised to 6.7% (up in US, CN and EA but down in IN and JP) and 4.9% (all except US), respectively. The overall “Big5” median CPI inflation forecasts were nudged up to 2.6% (higher in US, IN and EA but lower in CN) and 2.4% (in US, IN and EA some), respectively, for this year and …


Greenwashing: Evidence From Hedge Funds, Hao Liang, Lin Sun, Melvyn Teo Aug 2021

Greenwashing: Evidence From Hedge Funds, Hao Liang, Lin Sun, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

We find that a non-trivial number of hedge funds that endorse the United Nations Principles for Responsible Investment indulge in greenwashing. Hedge funds that greenwash underperform both genuinely green and nongreen funds after adjusting for risk. Consistent with an agency explanation, greenwashers (i) underperform more when incentive alignment is poor, (ii) trigger more regulatory violations, and (iii) report more suspicious returns. By exploiting regulatory reforms that aim to enhance stewardship and curb greenwashing, we provide causal evidence that relates agency problems to greenwashing and fund underperformance. Investors, however, do not appear to discriminate between greenwashers and genuinely green funds.


Tokyo 2020: A Tale Of Two Cities, Tan K. B. Eugene Aug 2021

Tokyo 2020: A Tale Of Two Cities, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

In a commentary, SMU Associate Professor of Law Eugene Tan, who was a team manager at the 2002 Busan Asian Games and 2004 Athens Olympics, discussed the Olympics Tokyo 2020 and how it showed indomitable human spirit amid the pandemic. Assoc Prof Tan also discussed and explored how Singapore can develop sustainable pathways that would enable our athletes to continue having competitive sporting careers into their late 20s and 30s.


Tackling The Critical Question Of Schooling’S Ns Deferment After His Poor Tokyo Olympics Performance, Tan K. B. Eugene Aug 2021

Tackling The Critical Question Of Schooling’S Ns Deferment After His Poor Tokyo Olympics Performance, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

In a commentary, SMU Associate Professor of Law Eugene Tan, who was team manager of Singapore’s 2004 Athens Olympics national swim team, discussed the critical question of Singapore’s sporting icon Joseph Schooling’s National Service (NS) deferment after his subpar performance at the Tokyo Olympics. Joseph has been on long-term NS deferment since 2014. Assoc Prof Tan noted that what is at stake is the integrity of long-term deferment, and the precedent-setting decision calculus which would come under intense scrutiny.


Inter-Retailer Channel Competition: Empirical Analyses Of Store Entry Effects On Online Purchases, Qian Tang, Mei Lin, Youngsoo Kim Aug 2021

Inter-Retailer Channel Competition: Empirical Analyses Of Store Entry Effects On Online Purchases, Qian Tang, Mei Lin, Youngsoo Kim

Research Collection School Of Computing and Information Systems

This study empirically examines the effect of offline store entry on a competing online retailer in the footwear industry and investigates how this effect depends on the relative product assortment and price between the offline store and the online retailer. Using transaction data from a large online footwear retailer and offline store entry data from 19 major shoe retail chains and 3 department store chains, we quantify the entry effect of offline stores. Categorizing offline stores by assortment and price, we find that the entry of regular-price narrow-assortment stores generates a complementary effect that increases online purchases, while the entry …


Actions Define A Character: Assessment Centers As Behavior-Focused Personality Measures, Anna Luca Heimann, Pia V. Ingold, Filip Lievens, Klaus G. Melchers, Gert Keen, Martin Kleinmann Aug 2021

Actions Define A Character: Assessment Centers As Behavior-Focused Personality Measures, Anna Luca Heimann, Pia V. Ingold, Filip Lievens, Klaus G. Melchers, Gert Keen, Martin Kleinmann

Research Collection Lee Kong Chian School Of Business

To expand our knowledge of personality assessment, this study connects research and theory related to two common selection methods: assessment centers (ACs) and personality inventories. We examine the validity of personality-based AC ratings within a multi-method framework. Drawing from the self-other knowledge asymmetry model (Vazire, 2010), we propose that AC ratings are suited to capture personality traits that are observable in social interactions, whereas other methods (i.e., self-ratings) are useful to assess more internal traits. We obtained data from two personality-based ACs, self- and other-rated personality inventories, and supervisor ratings of job performance. Confirmatory factor analyses indicated that personality-based AC …


Regeneration First, Simon J.D. Schillebeeckx, Ryan Knowles Merrill Aug 2021

Regeneration First, Simon J.D. Schillebeeckx, Ryan Knowles Merrill

Research Collection Lee Kong Chian School Of Business

30 years of "corporate sustainability" has left our earth in a dire state. Biodiversity loss, planetary fever, floods, wildfires, droughts, melting ice caps, dying corals… the list goes on. We need a new approach. I’m sure you heard about a carbon footprint. It is the sum of all the actions we take that have a negative impact on the planet. We consume electricity, we drive to work, we fly to our holiday destination, we waste food and plastic and so on. All these actions create a negative impact that can be expressed in CO2 equivalent. The more CO2 ends up …


The Impact Of Ceo/Cfo Outside Directorships On Auditor Selection And Audit Quality, Jaeyoon Yu, Byungjin Kwak, Myung Seok Park, Yoonseok Zang Aug 2021

The Impact Of Ceo/Cfo Outside Directorships On Auditor Selection And Audit Quality, Jaeyoon Yu, Byungjin Kwak, Myung Seok Park, Yoonseok Zang

Research Collection School Of Accountancy

We examine whether outside directorships of chief executive officer/chief financial officer (CEO/CFO) and resulting network ties to auditors affect auditor selection decisions and subsequent audit quality. The network ties arise when the CEO/CFO of a firm (home firm) serves as an outside director of another firm that hires an auditor (connected auditor). Using a sample of firms that switch auditors in the post-Sarbanes-Oxley Act period, we find that home firms are more likely to appoint connected auditors. We also find that home firms hiring connected auditors experience a significant decline in subsequent audit quality, compared to those hiring …


Monetary Policy Surprises, Stock Returns, And Financial And Liquidity Constraints, In An Exchange Rate Monetary Policy System, John M. Sequeira Aug 2021

Monetary Policy Surprises, Stock Returns, And Financial And Liquidity Constraints, In An Exchange Rate Monetary Policy System, John M. Sequeira

Research Collection Lee Kong Chian School Of Business

This study examines the impact of monetary policy surprises on the stock price behaviour of a small developed economy, whose monetary policy is based on the exchange rate. We find that monetary policy surprises associated with all contractionary policy levers and a neutral policy lever, have a consistently significant and negative impact on stock returns. In comparison, only monetary policy surprises associated with a downward re-centering policy lever, has a significantly positive effect on stock returns. Using a recalibrated classification system, we also find that monetary policy surprises differ across sectors of the economy. Our results show how monetary policy …


Case Study: National Library Board Singapore: Delivering Cost-Effective Service Excellence Through Innovation And People, Jochen Wirtz, Thomas Menkhoff Aug 2021

Case Study: National Library Board Singapore: Delivering Cost-Effective Service Excellence Through Innovation And People, Jochen Wirtz, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

The National Library Board (NLB) Singapore is a statutory board that managed to become a serial innovator. Its globally leading innovations in the library context include shelf-reading robots, and even entirely self-service libraries. NLB’s consistent focus on excellent service delivery reinforced its commitment to innovation. Key levers were effective strategic leadership, a smart innovation strategy that made heavy use of technology — such as app-delivered self-service technologies, crowdsourcing, and robotics — as well as a people-centric staff culture. NLB managed to co-create attractive libraries of the future together with different types of community members, such as volunteers and corporations, ushering …


Accounting And Finance Lessons In The Time Of Covid-19 – Views From The Pacific Basin, Kuan Yong David Ding, Julie Harrison, Martien Lubberink, Chris Van Staden Aug 2021

Accounting And Finance Lessons In The Time Of Covid-19 – Views From The Pacific Basin, Kuan Yong David Ding, Julie Harrison, Martien Lubberink, Chris Van Staden

Research Collection Lee Kong Chian School Of Business

The COVID-19 pandemic is expected to create the worst economic recession in our lifetime and generate “enormous damage to our health, jobs, and well-being” (OECD, 2020). This special issue focuses on the lessons for accounting and finance policy-makers, practitioners, and academics as a result of the social and economic turmoil that arose in the immediate period following the World Health Organization’s declaration of a pandemic (WHO, 2020). Governments responded to support businesses and economies using various policy tools to support markets, businesses and individuals impacted by the pandemic. It is timely to consider the extent to which policymakers and standard-setters …


Maintenance-Related Concerns For Post-Deployed Ethereum Smart Contract Development: Issues, Techniques, And Future Challenges, Jiachi Chen, Xin Xia, David Lo, John Grundy, Xiaohu Yang Aug 2021

Maintenance-Related Concerns For Post-Deployed Ethereum Smart Contract Development: Issues, Techniques, And Future Challenges, Jiachi Chen, Xin Xia, David Lo, John Grundy, Xiaohu Yang

Research Collection School Of Computing and Information Systems

Software development is a very broad activity that captures the entire life cycle of a software, which includes designing, programming, maintenance and so on. In this study, we focus on the maintenance-related concerns of the post-deployment of smart contracts. Smart contracts are self-executed programs that run on a blockchain. They cannot be modified once deployed and hence they bring unique maintenance challenges compared to conventional software. According to the definition of ISO/IEC 14764, there are four kinds of software maintenance, i.e., corrective, adaptive, perfective, and preventive maintenance. This study aims to answer (i) What kinds of issues will smart contract …


The Entrepreneurial Scientist, Kush Agarwal Jul 2021

The Entrepreneurial Scientist, Kush Agarwal

Perspectives@SMU

Kush Agarwal is a trained scientist who calls himself “an entrepreneur by DNA”. His advice to budding startup founders: Manage your expectations with VCs


Winning Startup Competitions, Shao Yen Tan, Kush Agarwal Jul 2021

Winning Startup Competitions, Shao Yen Tan, Kush Agarwal

Perspectives@SMU

Tan Shao Yen and Kush Agarwal were a mentor-mentee pairing in the Lee Kuan Yew Global Business Plan Competition. Their organisations are now collaborating to explore the application of new technology in the built environment


A Cio’S Take On Singapore’S Startup Ecosystem, Singapore Management University Jul 2021

A Cio’S Take On Singapore’S Startup Ecosystem, Singapore Management University

Perspectives@SMU

New challenges will drive innovation, says CPG’s Tan Shao Yen