Business Commons^™

Pmkt: Privacy-Preserving Multi-Party Knowledge Transfer For Financial Market Forecasting, Zhuoran Ma, Jianfeng Ma, Yinbin Miao, Kim-Kwang Raymond Choo, Ximeng Liu, Xiangyu Wang, Tengfei Yang

Research Collection School Of Computing and Information Systems

While decision-making task is critical in knowledge transfer, particularly from multi-source domains, existing knowledge transfer approaches are not generally designed to be privacy preserving. This has potential legal and financial implications, particularly in sensitive applications such as financial market forecasting. Therefore, in this paper, we propose a Privacy-preserving Multi-party Knowledge Transfer system (PMKT), based on decision trees, for financial market forecasting. Specifically, in PMKT, we leverage a cryptographic-based model sharing technique to securely outsource knowledge reflected in decision trees of multiple parties, and design a secure computation mechanism to facilitate privacy-preserving knowledge transfer. An encrypted user-submitted request from the target …

Essays On Corporate Social Responsibility And Strategic Leadership, Li Tong

Dissertations and Theses Collection (Open Access)

This dissertation two issues related to business ethics: how corporate social responsibility (CSR) affects the value creation in an acquisition and how corporate decoupling behaviors are driven by the CEO narcissism, consisting of two essays. The first essay examines how target corporate social responsibility affects the economic gains for acquirers, as reflected in market reaction to acquisition announcement, from two distinct perspectives: stakeholder preservation versus stakeholder appropriation. The stakeholder preservation perspective suggests that positive market reaction to an acquisition stems from potential new value creation by honoring implicit contracts and maintaining good relationships with target stakeholders. By contrast, the stakeholder …

Three Essays On Financial Economics, Jiangyuan Li

Dissertations and Theses Collection (Open Access)

Disagreement measures are known to predict cross-sectional stock returns but fail to predict market returns. This paper proposes a partial least squares disagreement index by aggregating information across individual disagreement measures and shows that this index significantly predicts market returns both in- and out-ofsample. Consistent with the theory in Atmaz and Basak (2018), the disagreement index asymmetrically predicts market returns with greater power in high sentiment periods, is positively associated with investor expectations of market returns, predicts market returns through a cash flow channel, and can explain the positive volume-volatility relationship.

Essays On Agricultural Commodity Processing, Bin Li

Dissertations and Theses Collection (Open Access)

This dissertation investigates two important issues in agricultural commodity processing: (i) biomass commercialization; that is, converting organic waste into a saleable product, from economic and environmental perspectives, and (ii) optimal procurement portfolio design using multiple suppliers and spot market, and the impact of by-product introduction on this optimal portfolio.

The first chapter examines the economic implications of biomass commercialization from the perspective of an agri-processor that uses a commodity input to produce both a commodity output and biomass. We characterize the value of biomass commercialization and perform sensitivity analysis to investigate how spot price uncertainty (input and output spot price …

Digitalisation Of Smes In Singapore: An Institute Of Higher Learning-Enterprise Partnership Model, Benjamin Huan Zhou Lee, Gary Pan

Research Collection School Of Accountancy

An SME had commissioned a team of five accounting students to develop a forecasting model using analytics. The student team was from the Accounting Analytics Capstone (SMU-X) course offered by the School of Accountancy, Singapore Management University (SMU), in January 2018. For this project, the student-consultants applied their knowledge of accounting data and analytics, combining it with a multidisciplinary approach to solve real-world complex financial analytical problems that have real-time consequences.

A Dynamic Account Of Self-Efficacy In Entrepreneurship, Michael M. Gielnik, Ronald Bledow, Miriam S. Stark

Research Collection Lee Kong Chian School Of Business

We present a dynamic account of self-efficacy in entrepreneurship that integrates social–cognitive and control theory. According to our dynamic account, variability in self-efficacy energizes action because it involves self-motivation and discrepancy perception as competing motivational processes. We argue that variability and the average level in self-efficacy nascent entrepreneurs display over time support the enactment of entrepreneurial intentions and predict business ownership. The proposed positive effect of variability further implies an inverted u-shaped relationship between self-efficacy at a single point in time and business ownership. To test these hypotheses, we repeatedly assessed entrepreneurial self-efficacy of nascent African entrepreneurs during a 12-week …

Semantic Understanding Of Smart Contracts: Executable Operational Semantics Of Solidity, Jiao Jiao, Shuanglong Kan, Shang Wei Lin, David Sanan, Yang Liu, Jun Sun

Research Collection School Of Computing and Information Systems

Bitcoin has been a popular research topic recently. Ethereum (ETH), a second generation of cryptocurrency, extends Bitcoin's design by offering a Turing-complete programming language called Solidity to develop smart contracts. Smart contracts allow creditable execution of contracts on EVM (Ethereum Virtual Machine) without third parties. Developing correct and secure smart contracts is challenging due to the decentralized computation nature of the blockchain. Buggy smart contracts may lead to huge financial loss. Furthermore, smart contracts are very hard, if not impossible, to patch once they are deployed. Thus, there is a recent surge of interest in analyzing and verifying smart contracts. …

Dealing With Global Supply Chain Breaks, Shantanu Bhattacharya

Research Collection Lee Kong Chian School Of Business

Businesses need to adopt appropriate strategies to deal with the unprecedented impact of Covid-19 on global supply chains.

Mindfulness Arrives At Work: Deepening Our Understanding Of Mindfulness In Organizations, Jochen Reb, Tammy Allen, Timothy J. Vogus

Research Collection Lee Kong Chian School Of Business

Mindfulness has become an increasingly popular practice and in parallel scholarly research has grown considerably. However, the study of mindfulness at work remains limited and motivates this special issue on “Mindfulness at Work: Pushing Theoretical and Empirical Boundaries.” In this introduction to the special issue we offer a brief initial grounding in the literature on mindfulness at work and in organizations. We then turn attention to how the six articles in this special issue advance this nascent field. We use both as a point of departure for considering the benefits and limits of mindfulness in organizations as well as the …

Equality In The Workplace, Siow-Heng Ong

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Go Big With Economic Push To Fight Covid-19, David Fernandez

Research Collection Lee Kong Chian School Of Business

Economic policymakers need to focus on taking bold and immediate action in order to tackle the pandemic crisis.

Covid-19 And Japanese Shareholder Activism: Brief Respite For Japan's Self-Healing Concrete, Toru Yoshikawa, Gavin Chua

Research Collection Lee Kong Chian School Of Business

Extrapolating from modern international understanding of corporate Japan’s distinct form of managerial capitalism, we elaborate on the growing momentum of shareholder activism in Japan leading up to the COVID-19 health crisis, so as to inform the subsequent discussion on the relevant primary considerations that belie the future direction of shareholder activism in Japan post-COVID-19. On an initial logical extrapolation, it appears probable that COVID-19 could mark the peak of Japanese activism. However, it is crucial to acknowledge that the success of Japan’s managerial capitalism have also declined, which poses a question on to which direction Japanese corporate governance may be …

Customer Satisfaction And Its Impact On The Future Costs Of Selling, Leon Gim Lim, Kapil R. Tuli, Rajdeep Grewal

Research Collection Lee Kong Chian School Of Business

Although scholars have established that customer satisfaction affects different dimensions of firm financial performance, a managerially important but overlooked aspect is its effect on a firm’s future cost of selling (COS), that is, expenditures associated with persuading customers and providing convenience to them. Accordingly, this study presents the first empirical and theoretical examination of the impact of customer satisfaction on future COS. The authors propose that while higher customer satisfaction can lower future COS, the degree to which a firm realizes this benefit depends on its strategy and operating environment. Analyzing almost two decades of data from 128 firms, the …

Geographical Influences On The Relationship Between Corporate Philanthropy And Corporate Financial Performance, Jane Lu, Xueji Liang, Heli Wang

Research Collection Lee Kong Chian School Of Business

Building on stakeholder theory, the paper argues that geographical differences in stakeholders’ reactions to corporate philanthropy lead to differences in the relationship between corporate philanthropy and corporate financial performance across regions. When comparing the United States and China and different regions within China, it is found that the differences in stakeholder perceptions (as reflected by sinful industry) and information availability (as indicated by advertising intensity) across regions significantly moderate the corporate philanthropy–corporate financial performance relationship. The findings show that the value of corporate philanthropy varies by region and that stakeholder perception and information availability are two important mechanisms through which …

The Future Of Work Now: Cyber Threat Attribution At Fireeye, Thomas H. Davenport, Steven M. Miller

Research Collection School Of Computing and Information Systems

One of the most frequently-used phrases at business events these days is “the future of work.” It’s increasingly clear that artificial intelligence and other new technologies will bring substantial changes in work tasks and business processes. But while these changes are predicted for the future, they’re already present in many organizations for many different jobs. The job and incumbent described below is an example of this phenomenon. It’s a clear example of an existing job that’s been transformed by AI and related tools.

Platform Pricing With Strategic Buyers: The Impact Of Future Production Cost, Mei Lin, Xiajun Amy Pan, Quan Zheng

Research Collection School Of Computing and Information Systems

Two-sided platforms are often coupled with exclusive hardware products that connect two sides of users, the consumers of the hardware product (i.e., buyers) and the application developers (i.e., sellers). The hardware product in the platform business model introduces three important issues that are not yet well understood in the literature of platform pricing: potentially downward-trending production cost, product quality improvements, and consumers' strategic behaviors. Using analytical modeling, our study explicitly factors in these issues in analyzing a monopoly platform owner's two-sided pricing problem. The platform sequentially introduces and prices quality-improving hardware products, for which the costliness of quality may decrease. …

A 2020 Perspective On "Client Risk Informedness In Brokered Cloud Services: An Experimental Pricing Study", Di Shang, Robert J. Kauffman

Research Collection School Of Computing and Information Systems

Cloud computing and the cloud services market have advanced in the past ten years. Cloud services now include most information technology (IT) services from fundamental computing services to more cutting- edge artificial intelligence (AI) services. Accordingly, opportunities have emerged for research on the design of new market features to improve the cloud services market to benefit providers and users. Based on our observation of the recent development of cloud services, in this short research commentary, we share our agenda for future studies of this important sector of IT services.

Values Of Artificial Intelligence In Marketing, Yingrui Xi, Keng Siau

Research Collection School Of Computing and Information Systems

Artificial Intelligence (AI) is causing radical changes in marketing and emerging as a competent assistant supporting all areas of the marketing field. The influences and impacts AI has created in various marketing segments have aroused much interest among marketing professionals and academic scholars. Comprehensive and systematic studies on the values of AI in marketing, however, are still lacking and the existing literature fragmented. This research provides a comprehensive review of the existing literature in the relevant fields as well as a series of systematic interviews using the Value-Focused Thinking approach to understand the values of AI in marketing. This research …

Covid-19 And Its Lessons For Innovation, Patrick Tan

Perspectives@SMU

As COVID-19 forces organisations to adapt, it also presents opportunities to innovate.

Strengthening Social Fabric And Quality Of Life, Singapore Management University

Research Collection Office of Research

In this booklet, read about our research in the area of “Strengthening Social Fabric and Quality of Life”.

Contents:

Well-being of People, Groups, Organisations, Societies

• Serving the Underserved
• Does Family Background Affect Socioeconomic Mobility?
• Becoming a Happy Analyst
• Effective Childcare Subsidies
• Birds of a Feather Flock Together

Successful Ageing of People, of Populations

• Economic and Social Aspects of Ageing Successfully
• Exploring the Effectiveness of Smart Technologies in Eldercare
• Keeping our Silver Edge Sharp
• Sleep Quality & Dementia

Social Inclusion, Exclusion, Inequality

• The Helping Hand of Diversity
• Protecting Vulnerable Adults
• Finding the Path to an Inclusive Society
• Well-being of Singapore Youth …

Global Challenges And Regulatory Strategies To Fintech, Aurelio Gurrea-Martinez, Nydia Remolina

Centre for AI & Data Governance (2019-2025)

The rise of new technologies has changed the operation, regulation and supervision of financial markets, bringing new challenges and opportunities for consumers, regulators, and financial institutions. This Article seeks to explore the most common regulatory strategies used by financial regulators around the world to address the challenges associated with the rise of fintech. These strategies include the imposition of bans, regulatory passivity, adoption of new legislation, permission on a case by case basis, and more interactive approaches such as innovation offices, accelerators and sandboxes. This Article argues that the adoption and desirability of each regulatory approach will depend on a …

Government Initiatives May Dovetail With Companies' Sustainability Reporting, Cecilia Tortajada, Wee-Kiat Lim, Ishaan Bindal

CCX Research

In a commentary, Associate Director of SMU’s Centre for Management Practice Lim Wee Kiat, together with Cecilia Tortajada from the Lee Kuan Yew School of Public Policy, and Ishaan Bindal from the Institute of Water Policy, noted that research has indicated that “sustainability reporting is somewhat stalled when it comes to driving impact”, and discussed the options to sustainability reporting. They also shared about their findings in their ongoing research on sustainability reporting which includes reviews of reports from 2014 by companies listed on the Singapore Exchange (SGX), to explain how PUB's efforts may dovetail with SGX's on sustainability reporting.

Text Analytics, Nlp, And Accounting Research, Richard M. Crowley

Research Collection School Of Accountancy

The presentation covered: What is text analytics and NLP?; How text analytics has evolved in the accounting literature since the 1980s; What current (as of 2020) methods are used in the literature; What methods are on the horizon.

Audit Profession Must Rid ‘Overworked, Underpaid’ Image To Attract Best Talent, Chi Kwan Yuen, Gary Pan, Clarence Goh

Research Collection School Of Accountancy

Many accounting graduates are deterred from joining the audit profession because of the perception that auditors are lowly-paid and made to work long hours.

Raising Funds In The Era Of Digital Economy, Deserina Sulaeman

Dissertations and Theses Collection (Open Access)

The rapid advancement in technology and internet penetration have substantially increased the number of economic transactions conducted online. Platforms that connect economic agents play an important role in this digital economy. The unbridled proliferation of digital platforms calls for a closer examination of the factors that could affect the welfare of the increasing number of economic agents who participate in them.

This dissertation examines the factors that could affect the welfare of agents using the setting of a crowdfunding platform where fundraisers develop campaigns to solicit funding from potential donors. These factors can be broadly categorized into three distinct groups: …

Essays On Corporate Finance, Shuyu Xue Shuyu

Dissertations and Theses Collection (Open Access)

This dissertation has two essays on corporate finance. In the first chapter, I investigate the dual-class structure. The dual-class structure is often regarded as poor corporate governance and the source of agency problems. However, I find that, for companies with high information asymmetry and long investment horizon, dual-class structure delivers higher operating performance and valuation ratios. These performing dual-class companies tend to have a higher investment in intangibles, more innovations, less pay-out, and less CEO compensation. The findings suggest that dual-class structure could be optimal in empowering information-advantageous inside shareholders and ensuring corporate long-term goals.

In the second chapter of …

Helping The Singapore Arts Sector Survive The Covid-19 Crisis, Su Fern Hoe

Research Collection School of Social Sciences

From online art classes to livestreaming performances and collective singing to cheer frontline healthcare workers, people across the globe are turning to the arts for much-needed connection and comfort amid the Covid-19 crisis.

Green Bonds For Financing Renewable Energy And Energy Efficiency In South-East Asia: A Review Of Policies, Dina Azhgaliyeva, Anant Kapoor, Yang Liu

Research Collection Lee Kong Chian School Of Business

Mobilizing private finance for renewable energy and energy efficiency is critical for Association of South-East Asian Nations (ASEAN) not only for the reduction of global temperature rise but also for meeting fast-growing energy demand. Two-thirds of green bonds issued in ASEAN were used to finance renewable energy and energy efficiency projects. This paper provides a review of green bond issuance and green bond policies in ASEAN. Issuance of green bonds in top three green bond issuing countries in ASEAN, i.e. Indonesia, Malaysia and Singapore, are reviewed in detail. Green bond policies in ASEAN are effective in promoting green bond issuance. …

Primary Care Comprehensiveness And Care Coordination In Robust Specialist Networks Results In Lower Emergency Department Utilization: A Network Analysis Of Medicaid Physician Networks, Zhaowei She, Anne H. Gaglioti, Peter Baltrus, Chaohua Li, Miranda A. Moore, Lilly C. Immergluck, Arthi Rao, Turgay Ayer

Research Collection Lee Kong Chian School Of Business

Background: Care coordination is an essential and difficult to measure function of primary care. Objective: Our objective was to assess the impact of network characteristics in primary/specialty physician networks on emergency department (ED) visits for patients with chronic ambulatory care sensitive conditions (ACSCs). Subjects and Measures: This cross-sectional social network analysis of primary care and specialty physicians caring for adult Medicaid beneficiaries with ACSCs was conducted using 2009 Texas Medicaid Analytic eXtract (MAX) files. Network characteristic measures were the main exposure variables. A negative binomial regression model analyzed the impact of network characteristics on the ED visits per patient in …

Dynamic Auditor Competition And Audit Quality In The United States, Arum Choi, Jeong-Bon Kim, Yoonseok Zang

Research Collection School Of Accountancy

Regulators and audit market participants have concerned that less competitive audit market makes auditors to reduce the incentives to conduct high-quality audits. While a few studies examine the effect of competition in the U.S. local audit markets, they report conflicting evidence using the static Herfindahl index which is arguably noisy in capturing the intensity of competition. The purpose of this paper is to provide evidence on the effect of dynamic auditor competition in local audit markets on audit quality. For this purpose, we employ a measure to capture the dynamic nature of audit market competition: the proportion of clients switching …