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Articles 1951 - 1980 of 6934

Full-Text Articles in Business

What Drives The Declining Wealth Effect Of Subsequent Share Repurchase Announcements?, David K. Ding, Hardjo Koerniadi, Chandrasekhar Krishnamurti Aug 2020

What Drives The Declining Wealth Effect Of Subsequent Share Repurchase Announcements?, David K. Ding, Hardjo Koerniadi, Chandrasekhar Krishnamurti

Research Collection Lee Kong Chian School Of Business

Recent academic studies document that open market share repurchase announcements in the United States generate significantly lower returns than those reported in earlier studies. We find that the lower announcement return is associated with an increasing number of subsequent announcements in the more recent periods. Although the announcement period return from the initial announcement is positive, subsequent announcement returns are significantly decreasing. Further, we find that the decreasing returns of subsequent announcements are attributed to firms with negative past repurchase announcement returns. Our multivariate regression test results are consistent with the notion that the decreasing subsequent repurchase announcement returns are …

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News Media Influence On Public Trust In Bike-Sharing Operators In Singapore, Leonard Wong, Lyon Tan, Rachel Wong, Su Lin Yeo Aug 2020

News Media Influence On Public Trust In Bike-Sharing Operators In Singapore, Leonard Wong, Lyon Tan, Rachel Wong, Su Lin Yeo

Research Collection Lee Kong Chian School Of Business

Purpose: The overnight introduction of tens of thousands of dockless bike-share bicycles in Singapore with its indiscriminate parking drew the attention of the media, which generated extensive news reports on the activities carried out by bike-sharing operators. Given the meteoric rise and fall of the industry, this study examines the influence of agenda-setting of news reporting on the public’s perception of the industry and the impact on the firms’ corporate reputation. Design/methodology/approach: Utilizing the Reputation Quotient Index, the study content analyzed 147 textual data of online reports which were crawled over two years between 2017 and 2018 from six mainstream …

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Incentives For Information Provision: Energy Efficiency In The Spanish Rental Market, Xueying Bian, Natalia Fabra Aug 2020

Incentives For Information Provision: Energy Efficiency In The Spanish Rental Market, Xueying Bian, Natalia Fabra

Research Collection Lee Kong Chian School Of Business

In this paper we build a search model with asymmetric information regarding houses' energy efficiency. The objective is to shed light on the house owners' incentives to disclose energy certificates (ECs) in the rental market. Such incentives depend not only on the rent premium for more efficient houses - as previously documented - but also on the implicit rent penalty for unlabeled houses. Interestingly, we show that such a penalty is higher the greater the disclosure rate of ECs in the local market. This suggests that the enforcement of the EC regulation should be more stringent during the early phases, …

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The Role Of Situations In Situational Judgment Tests: Effects On Construct Saturation, Predictive Validity, And Applicant Perceptions, Philipp Schäpers, Patrick Mussel, Filip Lievens, Cornelius J. König, Jan-Philipp Freudenstein, Stefan Krumm Aug 2020

The Role Of Situations In Situational Judgment Tests: Effects On Construct Saturation, Predictive Validity, And Applicant Perceptions, Philipp Schäpers, Patrick Mussel, Filip Lievens, Cornelius J. König, Jan-Philipp Freudenstein, Stefan Krumm

Research Collection Lee Kong Chian School Of Business

Recent theorizing and empirical evidence suggesting thatsituational judgment tests (SJTs) are more context-independent than previouslythought has sparked a debate about the role of situation descriptions in SJTs.To contribute to this debate and add to our understanding of how SJTs work,this paper conceptually embeds SJT performance in a situation construal modeland examines the effects of situation descriptions on the construct saturationand predictive validity of SJT scores, as well as on applicant perceptions.Across two studies (N = 1,092 and 578) and different SJTs, personality andcognitive ability were equally important determinants of SJT performance regardlessof whether situation descriptions were presented or omitted. The …

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Measuring Privacy Concerns With Government Surveillance And Right-To-Be-Forgotten In Nomological Net Of Trust And Willingness-To-Share, Gaurav Bansal, Fiona Fui-Hoon Nah Aug 2020

Measuring Privacy Concerns With Government Surveillance And Right-To-Be-Forgotten In Nomological Net Of Trust And Willingness-To-Share, Gaurav Bansal, Fiona Fui-Hoon Nah

Research Collection School Of Computing and Information Systems

In the post Snowden revelations era, concerns related to government surveillance and oversight have come to the forefront. The ability of the Internet to remember “everything” (or forget anything) also raises a privacy concern associated with the “right to be forgotten”. Hence, in this paper, we propose and examine privacy concerns by extending the Hong and Thong’s (2013) model with the addition of two dimensions: right to be forgotten as well as government surveillance and oversight. We tested two different measurement models using privacy concerns as a second-order and a third-order construct within a nomological net that includes trusting beliefs …

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Towards A Data-Driven Financial System: The Impact Of Covid-19, Nydia Remolina Jul 2020

Towards A Data-Driven Financial System: The Impact Of Covid-19, Nydia Remolina

Centre for AI & Data Governance (2019-2025)

The COVID-19 outbreak has a growing impact on the global economy and the financial sector, which plays a critical role in mitigating the unprecedented macroeconomic and financial shock caused by the pandemic. Given the unprecedented nature of the current crisis, financial regulators and supervisors, central banks, along with governments and legislatures face challenges to maintain financial stability, preserve the well-functioning core markets, and ensure the flow of credit to the real economy. Even though the COVID-19 has slowed down our daily lives and stopped the operation of many industries, it did not have the same effect in the data-driven finance …

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Bermudan Option In Singapore Savings Bonds, Kian Guan Lim Jul 2020

Bermudan Option In Singapore Savings Bonds, Kian Guan Lim

Research Collection Lee Kong Chian School Of Business

The Singapore Savings Bonds (SSB) is a unique investment program offered by the Singapore government whereby retail investors can earn risk-free tax-free step-up interest closely matched to Treasury bond rates for up to 10 years and can redeem on any business day prior to maturity without any early redemption penalty. This study analyses the unique design of the SSB and provides a valuation of the Bermudan option for early redemption that is embedded in the SSB. The Black-Derman-Toy model is used to build the interest rate tree, and an iterative method is employed to avoid arbitrary specification of the pre-determined …

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The Resilience Of Family Controlled Business Groups: Survival Of The Unfit, Nirmalya Kumar, Phanish Puranam Jul 2020

The Resilience Of Family Controlled Business Groups: Survival Of The Unfit, Nirmalya Kumar, Phanish Puranam

Research Collection Lee Kong Chian School Of Business

The COVID crisis has demonstrated that family controlled business groups, usually criticized as being inefficient and diverse, have higher survival rates for precisely these reasons.

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Covid-19 And Management Education: Reflections On Challenges, Opportunities, And Potential Futures, Steve Brammer, Timothy Clark Jul 2020

Covid-19 And Management Education: Reflections On Challenges, Opportunities, And Potential Futures, Steve Brammer, Timothy Clark

Research Collection Lee Kong Chian School Of Business

COVID-19 is having profound impacts on tertiary education globally. Border closures, cuts to aviation capacity, mandatory quarantine on entering a country, restrictions on mass gatherings, and social distancing all pose challenges to higher education (HE) institutions. Business Schools (BSs) have larger and more internationally diverse cohorts of students and staff, generating particular challenges, but also often have more mature digital and remote education capabilities that enable responses to COVID-19. Therefore, exploring emergent evidence on how BSs are likely to be affected by COVID-19 over the short, medium, and long term is of significant importance to our community. In this commentary, …

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Does Media Exposure Affect Financial Reporting Quality Through Auditors?, Steven F. Cahan, Chen Chen, Rencheng Wang Jul 2020

Does Media Exposure Affect Financial Reporting Quality Through Auditors?, Steven F. Cahan, Chen Chen, Rencheng Wang

Research Collection School Of Accountancy

We examine whether the media has an indirect corporate governance effect on financial reporting quality (FRQ) that operates through auditors. This occurs because greater media coverage can magnify an auditor's business risk by exposing the auditor to more potential litigation and reputation damage if an audit failure occurs. We use a path analysis to examine the direct and indirect channels of media corporate governance. We find a positive association between media coverage and FRQ that is mediated by audit fees, and the results are stronger for firms with greater incentives to engage in earnings manipulation. In contrast, we find no …

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R&D Project Portfolio Selection With Multiple Stakeholders, Wenqi Lian Jul 2020

R&D Project Portfolio Selection With Multiple Stakeholders, Wenqi Lian

Dissertations and Theses Collection (Open Access)

Research and Development (R&D) is time consuming, expensive and risky; yet product life cycles are shortening and competition is fierce. Therefore, R&D often requires the collaboration and input of multiple stakeholders. This dissertation studies how collaborations involving multiple stakeholders can effectively make R&D project portfolio selection decisions to create the optimal social welfare. The two essays in the dissertation build stylized analytical models to examine R&D project portfolio selection in two different settings, academia and industry respectively. The models explicitly acknowledge the different information, goals and operational decisions of the stakeholders. In the first essay, we study a two-stage funding …

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Learning And Adaptation Under Uncertainty And Ambiguity, Lei Zheng Jul 2020

Learning And Adaptation Under Uncertainty And Ambiguity, Lei Zheng

Dissertations and Theses Collection (Open Access)

The first essay is about how high and moderate aspiration levels compare in terms of affecting the decision making and reinforcement learning in an uncertain environment. After developing a thought experiment and a computational model, I used lab experiments to test the model’s predictions: a high (moderate) aspiration level reduces (increases) feedback ambiguity about the relative attractiveness of different options, thus increases the exploitation (exploration) tendency of the decision maker. The behavioural difference suggests that high aspirations lead to better performance in stable environments, but worse performance after disruptive shocks. The second essay investigates whether organizations should commit more (or …

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Entrepreneurs For A Low Carbon World: How Environmental Knowledge And Policy Shape The Creation And Financing Of Green Start-Ups, Theodor Florian Cojoianu, Gordon L. Clark, Andreas G. F. Hoepner, Paolo Veneri, Dariusz Wojcik Jul 2020

Entrepreneurs For A Low Carbon World: How Environmental Knowledge And Policy Shape The Creation And Financing Of Green Start-Ups, Theodor Florian Cojoianu, Gordon L. Clark, Andreas G. F. Hoepner, Paolo Veneri, Dariusz Wojcik

Research Collection College of Integrative Studies

We investigate how different types of environmental policies and new regional environmental knowledge affect new venture creation in and financing of green (low carbon), brown (fossil fuel) and gray (unrelated to natural resources) technologies across 24 OECD countries and 293 regions over the period 2001-13. We find that new regional environmental knowledge positively impacts new venture creation in green technologies, and moderately in gray industries. Gray industries also benefit from enhanced start-up financing in regions where new environmental knowledge is created, confirming that environmental knowledge creation yields positive externalities beyond the green sector. We also find that a more stringent …

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In The Name Of Covid-19: Is The Ecb Fuelling The Climate Crisis?, Theodor Florian Cojoianu, E. Collins, Andrea G. F. Hoepner, D. Magill, T. O'Neill, F. I. Schneider Jul 2020

In The Name Of Covid-19: Is The Ecb Fuelling The Climate Crisis?, Theodor Florian Cojoianu, E. Collins, Andrea G. F. Hoepner, D. Magill, T. O'Neill, F. I. Schneider

Research Collection College of Integrative Studies

The current global greenhouse gas (GHG) emissions trajectory indicates that the world is likely to experience catastrophic consequences due to climate change, unless swift action is taken towards funding green solutions and the defunding of fossil fuel activities (IPCC 2018). While there is an extensive academic literature on the links between environmental and fiscal policies and the low-carbon energy transition (Aghion et al. 2016; Ambec et al. 2013; Cojoianu et al. 2020), as well as on optimal environmental policies in times of economic downturns (van den Bijgaart and Smulders 2018), we know less about what the role of central banks …

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Covid-19 Pandemic: Role Of Technology In Transforming Business To The New Normal, Fiona Fui-Hoon Nah, Keng Siau Jul 2020

Covid-19 Pandemic: Role Of Technology In Transforming Business To The New Normal, Fiona Fui-Hoon Nah, Keng Siau

Research Collection School Of Computing and Information Systems

COVID-19 has disrupted our lives and the economy. In this paper, we outline approaches in which information technology can be used to implement business strategies to enhance resilience by coping with, adapting to, and recovering from adversity resulting from the COVID-19 pandemic. We discuss how information technology such as digital supply chain, data analytics, artificial intelligence, machine learning, robotics, digital commerce, and Internet of Things can be used to enhance resilience and continuity of business.

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Making Connections: Social Networks In International Business, Ilya R. P. Cuypers, Gokhan Ertug, John Cantwell, Akbar Zaheer, Martin Kilduff Jul 2020

Making Connections: Social Networks In International Business, Ilya R. P. Cuypers, Gokhan Ertug, John Cantwell, Akbar Zaheer, Martin Kilduff

Research Collection Lee Kong Chian School Of Business

Insights from social network research have generated significant advancements in disciplines such as sociology, economics, and psychology. In comparison, the incorporation of social network ideas into international business (IB) research remains more limited. The purpose of this special issue is to foster further research on social networks in IB. In our introductory essay, we provide a brief overview of network research in the IB domain to give a sense of some of the major ongoing themes and to illustrate how the social network approach can provide fresh insights and add substantive value to the field. To emphasize the considerable potential …

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Intuitive Pricing By Independent Store Managers: Challenging Beliefs And Practices, Sabine Benoit, Mario Kienzler, Christian Kowalkowski Jul 2020

Intuitive Pricing By Independent Store Managers: Challenging Beliefs And Practices, Sabine Benoit, Mario Kienzler, Christian Kowalkowski

Research Collection Lee Kong Chian School Of Business

Independent store managers-who constitute a substantial portion of the retailing sector-often have limited resources with which to practice the formalized, data-driven pricing processes prescribed in the literature. On that basis, this article addresses how independent convenience store managers arrive at prices and whether their practices are effective. To begin with, 33 interviews with independent convenience store managers identified six common beliefs and ten practices underlying managers' intuitive decision making. Based on point-of-sale survey data from 1,504 customers of two convenience store chains at petrol stations, a second study compared market-oriented managerial beliefs with actual customer price perceptions and buying behaviors. …

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Individuals Responses To Economic Cycles: Organizational Relevance And A Multilevel Theoretical Integration, Nina Sirola Jul 2020

Individuals Responses To Economic Cycles: Organizational Relevance And A Multilevel Theoretical Integration, Nina Sirola

Research Collection Lee Kong Chian School Of Business

The state of the economy represents a concern for individuals and shapes their behavior in profound ways. The current review of studies on how individuals respond to economic cycles reveals that organizational relevance of such responses has often not been considered, and the literature is characterized by a variety of seemingly disconnected explanations for how and why individuals respond to the perceived state of the economy. I develop a theoretical framework that systematizes the literature and accounts for the seemingly disparate findings, highlighting the underlying functionality of such responses for individuals. I then integrate the literature on individual responses to …

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Getting Back To The “New Normal”: Autonomy Restoration During A Global Pandemic, Eric M. Anicich, Trevor A. Foulk, Merrick R. Osborne, Jake Gale, Michael Schaerer Jul 2020

Getting Back To The “New Normal”: Autonomy Restoration During A Global Pandemic, Eric M. Anicich, Trevor A. Foulk, Merrick R. Osborne, Jake Gale, Michael Schaerer

Research Collection Lee Kong Chian School Of Business

We investigate the psychological recovery process of full-time employees during the two-week period at the onset of the Coronavirus pandemic (COVID-19). Past research suggests that recovery processes start after stressors abate and can take months or years to unfold. In contrast, we build on autonomy restoration theory to suggest that recovery of impaired autonomy starts immediately even as a stressor is ongoing. Using growth curve modeling, we examined the temporal trajectories of two manifestations of impaired autonomy—powerlessness and (lack of) authenticity—to test whether recovery began as the pandemic unfolded. We tested our predictions using a unique experience-sampling dataset collected over …

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A Review Study Of Functional Autoregressive Models With Application To Energy Forecasting, Ying Chen, Thorsten Koch, Kian Guan Lim, Xiaofei Xu, Nazgul Zakiyeva Jul 2020

A Review Study Of Functional Autoregressive Models With Application To Energy Forecasting, Ying Chen, Thorsten Koch, Kian Guan Lim, Xiaofei Xu, Nazgul Zakiyeva

Research Collection Lee Kong Chian School Of Business

In this data‐rich era, it is essential to develop advanced techniques to analyze and understand large amounts of data and extract the underlying information in a flexible way. We provide a review study on the state‐of‐the‐art statistical time series models for univariate and multivariate functional data with serial dependence. In particular, we review functional autoregressive (FAR) models and their variations under different scenarios. The models include the classic FAR model under stationarity; the FARX and pFAR model dealing with multiple exogenous functional variables and large‐scale mixed‐type exogenous variables; the vector FAR model and common functional principal component technique to handle …

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Crowdfunding Platforms: Ecosystem And Evolution, Yee Heng Tan, Srinivas K. Reddy Jul 2020

Crowdfunding Platforms: Ecosystem And Evolution, Yee Heng Tan, Srinivas K. Reddy

Research Collection Lee Kong Chian School Of Business

Crowdfunding is the practice of seeking support from a large number of backers, each funding a small amount, in order to reach a specific funding goal. This monograph examines: (1) the field of crowdfunding, (2) how it has evolved, (3) the impact crowdfunding has on the fields of innovation, marketing and finance and (4) the factors that can affect crowdfunding outcomes. We view crowdfunding as complementary and transformative, increasing the efficiency of several existing processes such as idea generation and testing, fund raising and collection. We combine practitioner perspectives and research findings to provide insights on this subject. We explore …

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Why We Need A Theory Of Stakeholder Governance - And Why This Is A Hard Problem, John Amis, Jay Barney, Joseph T. Mahoney, Heli Wang Jul 2020

Why We Need A Theory Of Stakeholder Governance - And Why This Is A Hard Problem, John Amis, Jay Barney, Joseph T. Mahoney, Heli Wang

Research Collection Lee Kong Chian School Of Business

Corporate governance is an important topic for both scholars and practicing managers. To date, most work on this subject has focused on how to resolve potential conflicts of interest between a firm’s senior managers and its shareholders in how firms create and distribute economic value. Work on using governance to resolve possible conflicts between senior managers and shareholders has largely developed separately from governance questions focused on the broader relationships between a firm and its multiple stakeholders.This is ironic since some of the earliest work on agency theory conceptualized a firm as “a nexus for a set of contracting relationships …

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Foreign Subsidiary Csr As A Buffer Against Parent Firm Reputation Risk, Nan Zhou, Heli Wang Jul 2020

Foreign Subsidiary Csr As A Buffer Against Parent Firm Reputation Risk, Nan Zhou, Heli Wang

Research Collection Lee Kong Chian School Of Business

This study examines the influence of parent firm reputation risk on the level of corporate social responsibility activities of foreign subsidiaries. We first argue that a strong reputation risk spillover occurs from parent firms to their foreign subsidiaries due to the high visibility of multinationals, the control of parent firms over their subsidiaries, and the liability of foreignness associated with foreign firms in host countries. Then, we argue that subsidiaries may resort to CSR in their host country to reduce the spillover effect. Thus, we hypothesize a positive relationship between parent firm reputation risk and foreign subsidiary CSR activities. Moreover, …

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Negative Reviews, Positive Impact: Consumer Empathetic Responding To Unfair Word Of Mouth, Thomas Allard, Lea H. Dunn, Katherine White Jul 2020

Negative Reviews, Positive Impact: Consumer Empathetic Responding To Unfair Word Of Mouth, Thomas Allard, Lea H. Dunn, Katherine White

Research Collection Lee Kong Chian School Of Business

This research documents how negative reviews, when perceived as unfair, can activate feelings of empathy toward firms that have been wronged. Six studies and four supplemental experiments provide converging evidence that this experienced empathy for the firm motivates supportive consumer responses such as paying higher purchase prices and reporting increased patronage intentions. Importantly, this research highlights factors that can increase or decrease empathy toward a firm. For instance, adopting the reviewer's perspective when evaluating an unfair negative review can reduce positive consumer responses to a firm, whereas conditions that enhance the ability to experience empathy-such as when reviews are highly …

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Security Analysts And Capital Market Anomalies, Li Guo, Frank Weikai Li, K.C. John Wei Jul 2020

Security Analysts And Capital Market Anomalies, Li Guo, Frank Weikai Li, K.C. John Wei

Research Collection Lee Kong Chian School Of Business

We examine whether analysts use information in well-known stock return anomalies when making recommendations. We find results contrary to the common view that analysts are sophisticated information intermediaries who help improve market efficiency. Specifically, when analysts make more favorable recommendations to stocks classified as overvalued, these stocks tend to have particularly large negative abnormal returns ex post. Moreover, analysts whose recommendations are more aligned with anomaly signals are more skilled and elicit greater recommendation announcement returns. Our results suggest that analysts' biased recommendations could be a source of market frictions that impede the efficient correction of mispricing.

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Robustness, Sensitivity And Sampling Variability Of Pareto-Optimal Selection System Solutions To Address The Quality-Diversity Trade-Off, Wilfried De Corte, Paul Sackett, Filip Lievens Jul 2020

Robustness, Sensitivity And Sampling Variability Of Pareto-Optimal Selection System Solutions To Address The Quality-Diversity Trade-Off, Wilfried De Corte, Paul Sackett, Filip Lievens

Research Collection Lee Kong Chian School Of Business

In case that both the goals of selection quality and diversity are important, a selection system is Pareto-optimal (PO) when its implementation is expected to result in an optimal balance between the levels achieved with respect to both these goals. The study addresses the critical issue whether PO systems, as computed from calibration conditions, continue to perform well when applied to a large variety of different validation selection situations. To address the key issue, we introduce two new measures for gauging the achievement of these designs and conduct a large simulation study in which we manipulate 10 factors (related to …

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4 Lessons In Digital Transformation From The Lucrative K-Pop Industry, Singapore Management University Jun 2020

4 Lessons In Digital Transformation From The Lucrative K-Pop Industry, Singapore Management University

Perspectives@SMU

K-pop is set to become one of the most lucrative industries in the world thanks to digital transformation, and this provides important insights and lessons for businesses more broadly, says UNSW Business School's Felix Tan

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Sasa In Singapore: What Went Wrong?, Singapore Management University Jun 2020

Sasa In Singapore: What Went Wrong?, Singapore Management University

Perspectives@SMU

Twenty-two became a somewhat unlucky number for Hong Kong-based cosmetics retail chain, Sasa, for its Singapore operations in 2019. That was the year – 22 years after it entered the market – that it decided to close all of its 22 stores on the island.

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Leading In The Time Of Covid-19, Singapore Management University Jun 2020

Leading In The Time Of Covid-19, Singapore Management University

Perspectives@SMU

From planning well into the future to planning four weeks in advance, Ayala Corporation’s Chairman and CEO adjusted aggressively to navigate an unprecedented crisis.

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Remaking Retail In The Time Of Covid-19, Singapore Management University Jun 2020

Remaking Retail In The Time Of Covid-19, Singapore Management University

Perspectives@SMU

Short of the successful development of a COVID-19 vaccine, the sight of retail stores re-opening for business is probably the best mood lifter. Not only do lockdown-weary consumers reclaim some vestige of normalcy, businesses reeling from months of decimated income can stem the red ink and perhaps even get back into the black.

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