Business Commons^™

Covid-19 Hr Challenge: Lessons From Vigilant Singaporeans, Richard R. Smith

Research Collection Lee Kong Chian School Of Business

Lessons from Singapore that may benefit global HR business leaders in caring for the health and well-being of the workforce during this challenging time.

It Won’T Be Business As Usual After Covid-19, Arnoud De Meyer

Research Collection Lee Kong Chian School Of Business

As customer behaviours change, they will reshape business models in the post-coronavirus world.

Artificial Intelligence-Enhanced Predictive Insights For Advancing Financial Inclusion: A Human-Centric Ai-Thinking Approach, Meng Leong How, Sin Mei Cheah, Aik Cheow Khor, Yong Jiet Chan

Research Collection Lee Kong Chian School Of Business

According to the World Bank, a key factor to poverty reduction and improving prosperity is financial inclusion. Financial service providers (FSPs) offering financially-inclusive solutions need to understand how to approach the underserved successfully. The application of artificial intelligence (AI) on legacy data can help FSPs to anticipate how prospective customers may respond when they are approached. However, it remains challenging for FSPs who are not well-versed in computer programming to implement AI projects. This paper proffers a no-coding human-centric AI-based approach to simulate the possible dynamics between the financial profiles of prospective customers collected from 45,211 contact encounters and predict …

Problem-Solving Or Self-Enhancement? A Power Perspective On How Ceos Affect R&D Search In The Face Of Inconsistent Feedback, Radina Blagoeva, Tom J. M. Mom, Justin J. P. Jansen, Gerard George

Research Collection Lee Kong Chian School Of Business

Firms consider multiple reference points simultaneously to assess performance, yet often these referents may be inconsistent in signaling success or failure. Consequently, decision makers use two contrasting decision rules when responding to inconsistent feedback: problem-solving or self-enhancement. So far, disparate theoretical logics and mixed evidence has limited our understanding about when decision makers may shift their attention from positive to negative aspects of inconsistent feedback or vice versa, and may increase or decrease their R&D search. We examine how different types of CEO power explain why some firms may respond to inconsistent feedback, i.e. positive performance feedback and negative prospects, …

Emotions In Social Media: An Analysis Of Tweet Responses To Mh370 Search Suspension Announcement, Su Lin Yeo, Augustine Pang, Michelle L. F. Cheong, Tye Shi Jerome Quincy Yeo

Research Collection Lee Kong Chian School Of Business

Considered one of the deadliest incidents in the history of aviation crises and labelled a “continuing mystery,” the ongoing search for the missing Malaysia Airlines Flight 370 offers no closure. With endless media attention, and negative reactions of stakeholders to every decision made by the airline, this study investigates the types of emotions found in social media posted by publics to the MH370 search suspension announcement. It content analyzed 5,062 real-time tweet messages guided by the revised integrated crisis mapping model. Our findings indicated that, in addition to the four original emotions posited, there was a fifth emotion because of …

Are Interim Ceos Just Caretakers?, Xiaoxiao He, Rui Zhu

Research Collection Lee Kong Chian School Of Business

Interim CEOs are often viewed as caretakers during CEO transition periods. However, the caretaker function does not fully explain the increasing trend in the use of interim CEO appointments. Recent studies suggest that firms also use the interim position to test potential CEO candidates. This paper empirically examines this argument using a hand-collected dataset of 1936 CEO successions between 1994 and 2014. We find evidence that firms consider interim positions as a testing ground for CEO candidates. Specifically, we find that candidates with uncertain managerial abilities are more likely to be initially named as interim CEOs rather than permanent CEOs. …

Review-Guided Helpful Answer Identification In E-Commerce, Wenxuan Zhang, Wai Lam, Yang Deng, Jing Ma

Research Collection School Of Computing and Information Systems

Product-specific community question answering platforms can greatly help address the concerns of potential customers. However, the user-provided answers on such platforms often vary a lot in their qualities. Helpfulness votes from the community can indicate the overall quality of the answer, but they are often missing. Accurately predicting the helpfulness of an answer to a given question and thus identifying helpful answers is becoming a demanding need. Since the helpfulness of an answer depends on multiple perspectives instead of only topical relevance investigated in typical QA tasks, common answer selection algorithms are insufficient for tackling this task. In this paper, …

Global Fields, Institutional Emergence, And The Regulation Of Transnational Corporations, Alwyn Lim

Research Collection School of Social Sciences

World society theory has developed to become a major sociological perspective on globalization, focusing on the diffusion of global institutions and increasingly on the domestic impact of those institutions. Nevertheless, the emergence of global institutions has received less attention, raising questions about whether core elements of world society—institutional structures, actorhood, legitimacy—are sufficient to also explain how global institutions arise. This article proposes a “global fields” approach in which institutional emergence is conditional on the interaction between state and non-state actors around the exercise of international authority. Using archival United Nations (UN) data, I demonstrate this field approach through an historical …

Can Influencer Marketing Make Herbal Tea Cool?, Singapore Management University

Perspectives@SMU

A Singapore-based influencer marketing platform is tasked with the equivalent of trying to “sell bell-bottoms to Millennials”

Understanding Cryptocurrencies, Wolfgang Karl Hardle, Campbell R. Harvey, Raphael C. G. Ruele

Sim Kee Boon Institute for Financial Economics

Cryptocurrency refers to a type of digital asset that uses distributed ledger, or blockchain, technology to enable a secure transaction. Although the technology is widely misunderstood, many central banks are considering launching their own national cryptocurrency. In contrast to most data in financial economics, detailed data on the history of every transaction in the cryptocurrency complex are freely available. Furthermore, empirically oriented research is only now beginning, presenting an extraordinary research opportunity for academia. We provide some insights into the mechanics of cryptocurrencies, describing summary statistics and focusing on potential future research avenues in financial economics.

Customer Satisfaction Index Of Singapore 2019: Full Year Overview, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence (2007-2024)

The Customer Satisfaction Index of Singapore (CSISG) computes customer satisfaction scores at the national, sector, sub-sector, and company levels. The CSISG serves as a quantitative benchmark of the quality of goods and services produced by the Singapore economy over time and across countries. The fourth quarter results mark the end of measurement for CSISG 2019. Singapore’s 2019 national score was computed using the data collected during these four quarters.

Csisg Fieldwork Methodology Whitepaper, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence (2007-2024)

Comparisons of Results and Respondent Demographic Profiles between Interviewer Administered Face-to-face Survey and Respondent Self-administered Online Survey for the Customer Satisfaction Index of Singapore (CSISG)

Too Good To Eat? Cosmetic Standards And Waste In Agricultural Supply Chain, Jiahui Xu

Dissertations and Theses Collection (Open Access)

There is a significant amount of food wasted at the farm level due to high cosmetic standards adopted by retailers. We examine the economic incentives for retailers to adopt such high cosmetic standards and their impact on food loss. We build a sequential game between a retailer and a farmer, where the retailer signs a contract with the farmer specifying both the wholesale price and cosmetic quality standard. By adopting high cosmetic standards, retailers can motivate farmers to exert a higher effort to improve the cosmetic quality, e.g., using better seeds and applying more pesticides. As for the drivers of …

Financial Market Implications Of Marketing Actions And The Disclosure Of Marketing Information, Sungkyun Moon

Dissertations and Theses Collection (Open Access)

This dissertation contributes to marketing literature by examining the effects of marketing actions and the disclosure of marketing information through the financial market perspective that has high managerial relevance and policy implications. Specifically, the first essay provides the first empirical examination of the effects of the disclosure of advertising spending on investors’ and analysts’ uncertainty. It is responsive to calls by Marketing Science Institute and Marketing Accountability Standard Board to examine the consequences of disclosure of marketing metrics. The second essay examines the effect of advertising spending on firm value and explores firm and market level contingency effects. By doing …

The Impact Of Investor Protection Law On Global Takeovers: Lbo Vs. Non-Lbo Transactions, Xiaping Cao, Douglas Cummings, Jeremy C. Goh, Xiaoming Wang

Research Collection Lee Kong Chian School Of Business

This paper examines the impact of investor protection laws on value creation in LBOs versus non-LBO takeovers. We find that value creation measured by takeover premium is significantly higher in countries with better investor protection. The value effect of investor protection laws is more pronounced for LBOs than non-LBO takeover transactions. Among LBOs, investor protection’s value effect is lower for club deals than others. These results suggest that institutional context and legal environment determine the extent of value creation for takeovers around the world.

Tackling Regional Climate Change Impacts And Food Security Issues: A Critical Analysis Across Asean, Pif, And Saarc, Md. Saidul Islam, Edson Kieu

Research Collection Lee Kong Chian School Of Business

Climate change and food security issues are multi-faceted and transcend across national boundaries. Therefore, this paper begins with the premise that regional organizations are optimally positioned to address climate change and food security issues while actively engaging global partners to slow down or reverse current trajectories. However, the potential of regional organizations to play a central role in mitigating these vital concerns has not been realized. In this paper, we focus on three regional organizations—the Association of Southeast Asian Nations (ASEAN), the Pacific Islands Forum (PIF), and the South Asian Association for Regional Cooperation (SAARC) and set out to investigate …

Time-Series Momentum: Is It There?, Dashan Huang, Jiangyuan Li, Liyao Wang, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

Time-series momentum (TSM) refers to the predictability of the past 12-month return on the next one-month return, and is the focus of several recent influential studies. This paper shows, however, that asset-by-asset time-series regressions reveal little evidence of TSM, both in- and out-of-sample. While the t-statistic in a pooled regression appears large, it is not statistically reliable as it is less than the critical values of parametric and non-parametric bootstraps. From an investment perspective, the TSM strategy is profitable, but its performance is virtually the same as that of a similar strategy that is based on historical sample mean and …

What Are You Saying? Using Topic To Detect Financial Misreporting, Nerissa C. Brown, Richard M. Crowley, W. Brooke Elliott

Research Collection School Of Accountancy

We use a machine learning technique to assess whether the thematic content of financial statement disclosures (labeled topic) is incrementally informative in predicting intentional misreporting. Using a Bayesian topic modeling algorithm, we determine and empirically quantify the topic content of a large collection of 10‐K narratives spanning 1994 to 2012. We find that the algorithm produces a valid set of semantically meaningful topics that predict financial misreporting, based on samples of Securities and Exchange Commission (SEC) enforcement actions (Accounting and Auditing Enforcement Releases [AAERs]) and irregularities identified from financial restatements and 10‐K filing amendments. Our out‐of‐sample tests indicate that topic …

How Does Status Affect Performance And Learning From Failure? Evidence From Online Communities, Tengjian Zou

Dissertations and Theses Collection (Open Access)

This dissertation is composed of two essays. In the first essay, I investigate the factors that can alleviate the detrimental effect of hierarchy on team performance. I first show that hierarchy negatively impacts team performance, which is consistent with recent meta-analytic evidence. One mechanism that drives this negative effect is that hierarchy prevents low-ranking members from voicing their potentially valuable insights. Then I propose that team familiarity is one factor that can encourage low-ranking team members to speak up. I contend that team familiarity can be established either by team members’ prior experience in working with one another or can …

Family Entrenchment And Internal Control: Evidence From S&P 1500 Firms, Xia Chen, Mei Feng, Chan Li

Research Collection School Of Accountancy

We examine whether family owners exploit internal control weaknesses for entrenchment purposes and whether the public disclosure requirement under SOX 404 helps alleviate this entrenchment. We find supportive evidence for both questions. In the initial years of SOX 404 implementation (2004 and 2005), ineffective internal control in family CEO firms is more conducive to entrenchment - measured by the occurrence of misstatements, frauds, and related party transactions - than ineffective internal control in nonfamily firms is. With the public disclosure requirement of SOX 404 in place, family CEO firms are more likely to remediate internal control weaknesses, and the resulting …

Investing With Cryptocurrencies: A Liquidity Constrained Investment Approach, Simon Trimborn, Mingyang Li, Wolfgang Karl Hardle

Sim Kee Boon Institute for Financial Economics

Cryptocurrencies have left the dark side of the finance universe and become an object of study for asset and portfolio management. Since they have low liquidity compared to traditional assets, one needs to take into account liquidity issues when adding them to a portfolio. We propose a Liquidity Bounded Risk-return Optimization (LIBRO) approach, which is a combination of risk-return portfolio optimization under liquidity constraints. Cryptocurrencies are included in portfolios formed with stocks of the S&P 100, US Bonds, and commodities. We illustrate the importance of the liquidity constraints in an in-sample and out-of-sample study. LIBRO improves the weight optimization in …

Changes In Decision-Making Authority When Chaebol Firms Grow: From The Perspective Of Non-Family Managers, Changhwan Kim

Dissertations and Theses Collection (Open Access)

What changes do non-family managers in large family firms such as chaebols (Korean conglomerates) observe in their decision-making authority when their organizations grow? The intuitive expectation is that non-family managers' decision-making authority will grow in conjunction with the successful expansion of the business and growth of the firm.

Based on 45 in-depth semistructured interviews with non-family managers from a wide range of chaebol firms, this study analyzes how non-family managers perceive the change in their decision-making authority and the cause of this change.

The findings indicate that respondents perceive that their decision-making authority does not increase with the growth of …

Vehicle Routing Problem For Multi-Product Cross-Docking, Aldy Gunawan, Audrey Tedja Widjaja, Benjamin Gan, Vincent F. Yu, Panca Jodiawan

Research Collection School Of Computing and Information Systems

Cross-docking is a logistic technique that can reduce costs occurred in a supply chain network while increasing the flow of goods, thus shortening the shipping cycle. Inside a cross-dock facility, the goods are directly transferred from incoming vehicles to outgoing vehicles without storing them in-between. Our research extends and combines this cross-docking technique with a well-known logistic problem, the vehicle routing problem (VRP), for delivering multiple products and addresses it as the VRP for multi-product cross-docking (VRP-MPCD). We developed a mixed integer programming model and generated two sets of VRP-MPCD instances, which are based on VRPCD instances. The instances are …

When The Bank Comes To You: Branch Network And Customer Omnichannel Banking Behavior, Mi Zhou, Dan Geng, Vibhanshu Abhishek, Beibei Li

Research Collection School Of Computing and Information Systems

Banks today have been increasingly reducing their physical presence and redirecting customers to digital channels, and yet, the consequences of this strategy are not well studied. This paper investigates the effects of banks' branch network changes (i.e., branch openings and branch closures) on customer omnichannel banking behavior. Using approximately 0.85 million (33 months') anonymized individual-level banking transactions from a large commercial bank in the United States, this paper shows the asymmetric effects of branch openings and branch closures on customer omnichannel banking behavior. In particular, we find that branch openings increase customers' branch transactions; however, the first branch opening leads …

Multiple Speed Assessments: Theory, Practice, And Research Evidence, Christoph N. Herde, Filip Lievens

Research Collection Lee Kong Chian School Of Business

This paper presents Multiple Speed Assessments as an umbrella term to encompass a variety of approaches that include multiple (e.g., 20), short (e.g., 3 min), and often integrated interpersonal simulations to elicit overt behavior in a standardized way across participants. Multiple Speed Assessments can be used to get insight into the behavioral repertoire of a target person in situations sampled from a predefined target domain and their intraindividual variability across these situations. This paper outlines the characteristics and theoretical basis of Multiple Speed Assessments. We also discuss various already existing examples of Multiple Speed Assessments (Objective Structured Clinical Examinations, Multiple …

"I Like It, But I Don't Use It": Impact Of Carsharing Business Models On Usage Intentions In The Sharing Economy, Ruediger Hahn, Felix Ostertag, Adrian Lehr, Marion Buettgen, Sabine Benoit

Research Collection Lee Kong Chian School Of Business

Carsharing is often promoted as a potentially environmental-friendly alternative to individual car ownership. However, various carsharing programs have displayed limited success in the past. An initial field study of a new carsharing service is such a story of failure: The introduction of this new service at a medium-sized German university generated unexpectedly low adoption rates so that the service was eventually scaled down and then suspended. Quantitative field study results as well as additional qualitative focus groups reveal that missing compatibility is a key barrier to adoption. Drawing on extant conceptual frameworks of user participation in sharing business models, a …

Dbs Impact Measurement Project: Technical Review, Hao Liang, Phuong Tran Bao Nguyen, David Fernandez, Jun Ho Park

Research Collection Lee Kong Chian School Of Business

The measurement of ESG and its impact is becoming one of the more important and debated issues in sustainable business practice, with the significant challenges being the subjectivity of scope, criteria, as well as lack of consistency across different rating agencies and data providers

Impact measurement goes beyond ESG measurement. Apart from qualitative and input-based approach, it encapsulates a more outcome/impact-based approach, supported with quantitative methods

Impact measurement and valuation are still at the infant stage, with limited research and guidelines, thus [Impact Institute] II’s approach has significant novelty and is among the first to measure and value impact

II …

A Behavioral Signaling Explanation For Stock Splits: Evidence From China, Chenyu Cui, Frank Weikai Li, Jiaren Pang, Deren Xie

Research Collection Lee Kong Chian School Of Business

We propose a behavioral signaling explanation for the positive announcement effects of stock splits. There are two key behavioral ingredients in our model. First, (retail) investors have misconceptions about stock splits that make them view stock splits as good news. Second, investors are loss-averse and will be particularly disappointed if a splitting firm’s ex-post performance falls short of expectation. In a separating equilibrium, only managers with favorable private information use stock splits to signal. Using a comprehensive sample of stock splits in China over the period of 1998 to 2017, we find supporting evidence: (1) stock splits elicit positive announcement …

Why Commonality Persists?, Raja Velu, Zhaoque Zhou, Chyng Wen Tee

Research Collection Lee Kong Chian School Of Business

Studies on commonality in returns, order flows and liquidity find that the first principal component is closely aligned with the market factor. With the increasing presence of high-frequency trading, commonality in returns, order flows, and liquidity can potentially arise from the commonality in the interpretation of real-time signals. In this paper, we go beyond the first factor and show that the other dominant principal components consistently reflects investors' herding behavior, demonstrating the multi-dimensional aspect of commonality. Instead of relating the asset returns to order flows, we take both as endogenous, and provide empirical evidence showing that returns commonality is driven …

Commentary: Where Does The Talent Pools Of Smes Come From?, T. Mandy Tham

Research Collection Lee Kong Chian School Of Business

In a commentary, SMU Assistant Professor of Finance Mandy Tham explored how ‘family members’ is defined could affect the size of talent pool for SMEs and family businesses, and suggested some criteria for the selection of family members to be nurtured for the SMEs and family businesses.