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Full-Text Articles in Business

Don's Column: Revised Conceptual Framework For Financial Reporting (Part 2), Pearl Hock-Neo Tan Nov 2018

Don's Column: Revised Conceptual Framework For Financial Reporting (Part 2), Pearl Hock-Neo Tan

Research Collection School Of Accountancy

Fresh Perspectives in Recognition, Measurement and Disclosures


Studying The Relationship Between Performance And Z-Scores For Manufacturing Firms In Singapore, See Liang Foo, Shaakalya Pathak Nov 2018

Studying The Relationship Between Performance And Z-Scores For Manufacturing Firms In Singapore, See Liang Foo, Shaakalya Pathak

Research Collection School Of Accountancy

Singapore is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed.The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. Singapore registered relatively …


The Surprising Link Between The Economy And Personnel Evaluations, Nina Sirola Nov 2018

The Surprising Link Between The Economy And Personnel Evaluations, Nina Sirola

Research Collection Lee Kong Chian School Of Business

Macroeconomic changes lead to bias in how we assess the work of others.


The Making Of Successful Teams: A Study On Psychological Safety And Great Workplaces In Asia Pacific: 2018 Asia Insights, Richard Raymond Smith, Valerie Tan Nov 2018

The Making Of Successful Teams: A Study On Psychological Safety And Great Workplaces In Asia Pacific: 2018 Asia Insights, Richard Raymond Smith, Valerie Tan

Research Collection Lee Kong Chian School Of Business

Drawing on existing literature as well as our own research, we set out to answer this question: what is the best approach to foster quality teamwork that transforms companies into great workplaces that are future-ready? We considered this research question specifically in the context of Asia Pacific – a region where Gartner predicts that 80 percent of traditional companies may lose 10 percent of their market share by 2021 if disruptions are not well considered and addressed. For this purpose, we examined the Great Place to Work data gathered from over 800 organisations with more than 400,000 survey respondents across …


Partisan Conflict And Stock Price, Dashan Huang, Wang Liyao Nov 2018

Partisan Conflict And Stock Price, Dashan Huang, Wang Liyao

Research Collection Lee Kong Chian School Of Business

Partisan conflict has been one dominant theme in U.S. politics in recent years. By using the textual index of Azzimonti (2018), this paper shows that partisan conflict positively predicts market returns, controlling for economic predictors and proxies for uncertainty, disagreement, geopolitical risk, and political sentiment. A one standard-deviation increase in partisan conflict is associated with a 0.58% increase in next month market return. The forecasting power concentrates in periods when the president is from the Republican Party or the majority of House is Republicans. Partisan conflict is positively related to downside risk, and makes investors more conservative when its value …


Delayed Adoption Of Rules: A Relational Theory Of Firm Exposure And State Cooptation, Cyndi Man Zhang, Henrich. R. Greve Nov 2018

Delayed Adoption Of Rules: A Relational Theory Of Firm Exposure And State Cooptation, Cyndi Man Zhang, Henrich. R. Greve

Research Collection Lee Kong Chian School Of Business

Thestate creates and changes rules that coerce firms, but firms can delay or decouple responses to rule changes in order to managethe cost of demands. Theoryof compliance to thestate has not yet considered the degree to which the firm candelay adoption because of low exposure to rules and state linksthat allow cooptation, butboth of these relations between state power and firm ability to counteract itcan affect the adoption decision. This makes the response to state rule changes a more strategic outcome than the theoryof coercive isomorphism implies. We develop a relational theory of delayed firmcompliance to a state rule change …


Double Learning Or Double Blinding: An Investigation Of Vendor Private Information Acquisition And Consumer Learning Via Online Reviews, Nan Hu, Kevin E. Dow, Alain Yee Loong Chong, Ling Liu Nov 2018

Double Learning Or Double Blinding: An Investigation Of Vendor Private Information Acquisition And Consumer Learning Via Online Reviews, Nan Hu, Kevin E. Dow, Alain Yee Loong Chong, Ling Liu

Research Collection School Of Computing and Information Systems

In this paper, building upon information acquisition theory and using portfolio methods and system equations, we made an empirical investigation into how online vendors and consumers are learning from each other, and how online reviews, prices, and sales interact among each other. First, this study shows that vendors acquire information from both private and public channels to learn the quality of their products to make price adjustment. Second, for the more popular products and newly released products, vendors are more motivated to acquire private information that is more precise than the average precision to adjust their price. Third, we document …


Pestel Analysis Of Hacktivism Campaign Motivations, Mikko Samuli Niemelae Nov 2018

Pestel Analysis Of Hacktivism Campaign Motivations, Mikko Samuli Niemelae

Research Collection Lee Kong Chian School Of Business

A political, economic, socio-cultural, technological, environment and legal (PESTEL) analysis is a framework or tool used to analyse and monitor the macro-environmental factors that have an impact on an organisation. The results identify threats and weaknesses which are used in a strengths, weaknesses, opportunities and threats (SWOT) analysis. In this paper the PESTEL framework was utilized to categorize hacktivism motivations for attack campaigns against certain companies, governments or industries. Our study is based on empirical evidence: of thirty-three hacktivism attack campaigns in manifesto level. Then, the targets of these campaigns were analysed and studied accordingly. As a result, we claim …


Potential Crime Risk And Housing Market Responses, Seonghoon Kim, Kwan Ok Lee Nov 2018

Potential Crime Risk And Housing Market Responses, Seonghoon Kim, Kwan Ok Lee

Research Collection School Of Economics

We study how information on local (dis)amenities is transmitted and manifested in housing markets. Using nationwide data on multifamily homes in South Korea, we analyze heterogeneity in the effect of a sex offender's presence on sale prices and rents of nearby homes. Our results demonstrate that the price effect of the offender's move-in varies significantly by spatial context. People react more strongly and persistently to the move-in of the offender in places wherein indicators of social connectedness are stronger, such as places with relatively low population density. We also find that, unlike housing prices, rents do not change in response …


Labour Research Conference 2018: Upskilling Of Mature Workers, Stephen Hoskins, Luca Facchinello Nov 2018

Labour Research Conference 2018: Upskilling Of Mature Workers, Stephen Hoskins, Luca Facchinello

Research Collection School Of Economics

Many developed countries are approaching an era of ageing population due to an increase in longevity and decrease in fertility rates. Singapore is no exception, having one of the fastest ageing populations in Asia, which is driven by low fertility rates and the third longest life expectancy in the world. The number of elderly citizens, defined as those aged 65 and above, is expected to triple to 900,000 by 2030, making up about 28% of the total population in Singapore (Population SG, 2016). This changing population age profile, combined with a competitive labour market, means it makes business sense to …


The Impact Of In-House Unnatural Death On Property Values: Evidence From Hong Kong, Zheng Chang, Jing Li Nov 2018

The Impact Of In-House Unnatural Death On Property Values: Evidence From Hong Kong, Zheng Chang, Jing Li

Research Collection School Of Economics

The occurrence of in-house unnatural death could negatively affect the value of housing property. This study evaluates the geographic and temporal scope of the impact of unnatural death on property values in Hong Kong. By exploiting the spatial and intertemporal variation of the shock in a difference-in-differences approach, we find significant negative externalities of unnatural death incidence on neighborhood housing values. On average, units in which an unnatural death occurred experience a 25% drop in value following the death. Nearby units on the same floor also show a significant price drop of 4.5%. Prices of units on other floors of …


Low Power Individuals In Social Power Research: A Quantitative Review, Theoretical Framework, And Empirical Test, Michael Schaerer, Christilene Du Plessis, Andy J. Yap, Stefan Thau Nov 2018

Low Power Individuals In Social Power Research: A Quantitative Review, Theoretical Framework, And Empirical Test, Michael Schaerer, Christilene Du Plessis, Andy J. Yap, Stefan Thau

Research Collection Lee Kong Chian School Of Business

We examine the role of low-power individuals in social power research. A multi-method literature review reveals that low-power individuals may be insufficiently understood because many studies lack necessary control conditions that allow drawing inferences about low power, effects are predominantly attributed to high power, and qualitative reviews primarily focus on how high-power individuals feel, think, and behave. Challenging the assumption that low power tends to produce opposite consequences of high power, we highlight several similarities between the two states. Based on social exchange theories, we propose that unequal-power (vs. equal-power) relationships make instrumental goals, competitive attitudes, and exchange rules salient, …


How Sending E-Mails Compares With Carbon Emission Of Car Use, Thomas Menkhoff Nov 2018

How Sending E-Mails Compares With Carbon Emission Of Car Use, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

Digitalnatives can reduce their carbon footprint by being conscious about Internetusage. Everwondered how your e-mails may contribute to your personal carbon footprint? Accordingto estimates published in Phys.org, sending a short e-mail adds about 4g of CO2equivalent (gCO2e) to the atmosphere (an e-mail with a long attachment has atenfold carbon footprint, that is 50 gCO2e.


News Co-Occurrence, Attention Spillover, And Return Predictability, Li Guo, Lin Peng, Yubo Tao, Jun Tu Nov 2018

News Co-Occurrence, Attention Spillover, And Return Predictability, Li Guo, Lin Peng, Yubo Tao, Jun Tu

Research Collection School Of Economics

We examine the effect of investor attention spillover on stock return predictability. Using a novel measure, the News Network Triggered Attention index (NNTA), we find that NNTA negatively predicts market returns with a monthly in(out)-of-sample R-square of 5.97% (5.80%). In the cross-section, a long-short portfolio based on news co-occurrence generates a significant monthly alpha of 68 basis points. The results are robust to the inclusion of alternative attention proxies, sentiment measures, other news- and information-based predictors, across recession and expansion periods. We further validate the attention spillover effect by showing that news co-mentioning leads to greater increases in Google and …


Future Scenarios Of The Collaborative Economy: Centrally Orchestrated, Social Bubbles Or Decentralized Autonomous?, Julia A. Fehrer, Sabine Benoit, Lerzan Aksoy, Thomas L. Baker, Simon J. Bell, Roderick J. Brodie, Malliga Marimuthu Nov 2018

Future Scenarios Of The Collaborative Economy: Centrally Orchestrated, Social Bubbles Or Decentralized Autonomous?, Julia A. Fehrer, Sabine Benoit, Lerzan Aksoy, Thomas L. Baker, Simon J. Bell, Roderick J. Brodie, Malliga Marimuthu

Research Collection Lee Kong Chian School Of Business

Purpose: The collaborative economy (CE), and within it, collaborative consumption (CC) has become a central element of the global economy and has substantially disrupted service markets (e.g. accommodation and individual transportation). The purpose of this paper is to explore the trends and develop future scenarios for market structures in the CE. This allows service providers and public policy makers to better prepare for potential future disruption. Design/methodology/approach: Thought experiments - theoretically grounded in population ecology (PE) - are used to extrapolate future scenarios beyond the boundaries of existing observations. Findings: The patterns suggested by PE forecast developmental trajectories of CE …


Assessing The Effects Of Post-Crisis Regulatory Reforms On Liquidity In The Singapore Government Securities And Mas Bills Market, John M. Sequeira Nov 2018

Assessing The Effects Of Post-Crisis Regulatory Reforms On Liquidity In The Singapore Government Securities And Mas Bills Market, John M. Sequeira

Research Collection Lee Kong Chian School Of Business

The FSB initiated in 2017 an evaluation of the effects of post-crisis regulatory reforms, by developing a framework to assess whether the reforms are achieving their intended outcomes and identify any material unintended consequences. In tandem, MAS established an evaluation framework, which covers four broad impact areas, comprising FIs, financial markets, financial end-users and the broader financial landscape. Internationally, there have been particular concerns over whether post-crisis reforms may have impaired liquidity conditions in specific financial markets. We provide an assessment of the effects of the reforms on liquidity in a key market in Singapore, the SGS and MAS bills …


Pestel Analysis Of Hacktivism Campaign Motivations, Juha Nurmi, Mikko Samuli Niemelae Nov 2018

Pestel Analysis Of Hacktivism Campaign Motivations, Juha Nurmi, Mikko Samuli Niemelae

Research Collection Lee Kong Chian School Of Business

A political, economic, socio-cultural, technological, environment and legal (PESTEL) analysis is a framework or tool used to analyse and monitor the macro-environmental factors that have an impact on an organisation. The results identify threats and weaknesses which are used in a strengths, weaknesses, opportunities and threats (SWOT) analysis. In this paper the PESTEL framework was utilized to categorize hacktivism motivations for attack campaigns against certain companies, governments or industries. Our study is based on empirical evidence: of thirty-three hacktivism attack campaigns in manifesto level. Then, the targets of these campaigns were analysed and studied accordingly. As a result, we claim …


Strategic Sequential Bidding For Government Land Auction Sales – Evidence From Singapore, Sumit Agarwal, Jing Li, Ernie Teo, Alan Cheong Nov 2018

Strategic Sequential Bidding For Government Land Auction Sales – Evidence From Singapore, Sumit Agarwal, Jing Li, Ernie Teo, Alan Cheong

Research Collection School Of Economics

This paper studies the extent to which equilibrium auction prices are pushed up sequentially due to strategic bidding behaviors in government land auction sales. Using a unique dataset that covers the universe of tendering prices submitted by all developers for all residential land auction sales in Singapore, we find that a tenderer’s bids are significantly higher where there was a previous land parcel sold within two years and located within four kilometers. The elevated price margin decreases with time and geographic distance. Tracking sequential bids submitted by same developers over time, we find that the incumbent winner of a previous …


Entrepreneurship, College, And Credit: The Golden Triangle, Roberto M. Samaniego, Juliana Yu Sun Nov 2018

Entrepreneurship, College, And Credit: The Golden Triangle, Roberto M. Samaniego, Juliana Yu Sun

Research Collection School Of Economics

We develop a model to evaluate the aggregate impact of college finance in an environment with entrepreneurship. The calibrated model captures the stylized fact that entrepreneurs with college are more common and more profitable in the United States. The calibration indicates this is mainly because higher labor earnings allow college‐educated agents to ameliorate credit constraints if and when they eventually become entrepreneurs. Changes in financing constraints on entrepreneurs can thus affect college attendance, and changes in financing constraints on college can affect entrepreneurship rates as well.


Heterogeneous Embedding Propagation For Large-Scale E-Commerce User Alignment, Vincent W. Zheng, Mo Sha, Yuchen Li, Hongxia Yang, Yuan Fang, Zhenjie Zhang, Kian-Lee Tan, Kevin Chen-Chuan Chang Nov 2018

Heterogeneous Embedding Propagation For Large-Scale E-Commerce User Alignment, Vincent W. Zheng, Mo Sha, Yuchen Li, Hongxia Yang, Yuan Fang, Zhenjie Zhang, Kian-Lee Tan, Kevin Chen-Chuan Chang

Research Collection School Of Computing and Information Systems

We study the important problem of user alignment in e-commerce: to predict whether two online user identities that access an e-commerce site from different devices belong to one real-world person. As input, we have a set of user activity logs from Taobao and some labeled user identity linkages. User activity logs can be modeled using a heterogeneous interaction graph (HIG), and subsequently the user alignment task can be formulated as a semi-supervised HIG embedding problem. HIG embedding is challenging for two reasons: its heterogeneous nature and the presence of edge features. To address the challenges, we propose a novel Heterogeneous …


Jobsense: A Data-Driven Career Knowledge Exploration Framework And System, Xavier Jayaraj Siddarth Ashok, Ee-Peng Lim, Philips Kokoh Prasetyo Nov 2018

Jobsense: A Data-Driven Career Knowledge Exploration Framework And System, Xavier Jayaraj Siddarth Ashok, Ee-Peng Lim, Philips Kokoh Prasetyo

Research Collection School Of Computing and Information Systems

Today’s job market sees rapid changes due to technology and business model disruptions. To fully tap on one’s potential in career development, one has to acquire job and skill knowledge through working on different jobs. Another approach is to seek consultation with career coaches who are trained to offer career advice in various industry sectors. The above two approaches, nevertheless, suffer from several shortcomings. The on-the-job career development approach is highly inefficient for today’s fast changing job market. The latter career coach assisted approach could help to speed up knowledge acquisition but it relies on expertise of career coaches but …


The Market Impact Of The Appointment Of Female Directors In Listed Companies In New Zealand, Kuan Yong David Ding, Echo Su Chen Oct 2018

The Market Impact Of The Appointment Of Female Directors In Listed Companies In New Zealand, Kuan Yong David Ding, Echo Su Chen

Research Collection Lee Kong Chian School Of Business

This study examines investor reaction to the appointment of female directors in New Zealand-listed companies. Using the event study method, we ϐind that female directors tend to be appointed as independent directors rather than in a Chief Executive Ofϐicer (CEO) role. The results reveal that female board appointments are generally negatively associated with stock performance. This study captures both the gender diversity arising in New Zealand companies and the performance of stock price resulting from the reaction of investors to the different positions of female directors. The evidence of a decrease in market performance is shown by the negative cumulative …


Hard Discounters: Underestimate At Your Own Peril, Singapore Management University Oct 2018

Hard Discounters: Underestimate At Your Own Peril, Singapore Management University

Perspectives@SMU

A combination of high quality products and low prices have beaten Walmart twice; hard discounters are coming for Asia


The Rise And Fall Of Bike-Sharing Platforms: A Lesson In E-Commerce, Singapore Management University Oct 2018

The Rise And Fall Of Bike-Sharing Platforms: A Lesson In E-Commerce, Singapore Management University

Perspectives@SMU

In the era of digital economy, bike-sharing platforms have grown rapidly. However, not all of them survived the competition. Why?


Intellectual Property, Innovation And The Retail Industry, Singapore Management University Oct 2018

Intellectual Property, Innovation And The Retail Industry, Singapore Management University

Perspectives@SMU

Think ahead to protect your intellectual property, and leverage on it to deliver customer value


Disruptive Technology: Can The Banking Industry Harness Disruption For Competitive Edge?, Edgar Low Oct 2018

Disruptive Technology: Can The Banking Industry Harness Disruption For Competitive Edge?, Edgar Low

MITB Thought Leadership Series

Disruptive innovation was identified as a phenomenon more than two decades ago by prominent Harvard scholar Clayton Christensen. So you may wonder why established industries are only now waking up to the prospect of digital transformation - the banking industry in particular.


Don’S Column: Singapore Corporate Tax Rate: Is It Really A Flat Rate?, Teng Aun Khoo, Clement Tan Kai Guan Oct 2018

Don’S Column: Singapore Corporate Tax Rate: Is It Really A Flat Rate?, Teng Aun Khoo, Clement Tan Kai Guan

Research Collection School Of Accountancy

As there is only one corporate tax rate (CTR) in Singapore, it may appear that the Singapore CTR is a single flat rate, currently 17%. However, after taking into account the availability of the partial tax exemption (PTE)scheme, the start-up tax exemption (SUTE) scheme and the corporate income tax rebate (CITR) in Singapore, all of which have an effect of lowering a company’s tax payable, the seemingly flat Singapore CTR is not what it seems to be. Instead, it translates to various progressive tax rates for different tiers of normal chargeable income (NCI).


Don's Column: Revised Conceptual Framework For Financial Reporting (Part 1), Pearl Hock-Neo Tan Oct 2018

Don's Column: Revised Conceptual Framework For Financial Reporting (Part 1), Pearl Hock-Neo Tan

Research Collection School Of Accountancy

In March 2018, the International Accounting Standards Board (IASB) issued the revised Conceptual Framework for Financial Reporting (CF 2018) after five years of deliberation since the Discussion Paper was first issued. CF 2018 is immediately applicable to the IASB and International Financial Reporting Standards (IFRS) Interpretations Committee.


Build Your Own Nest: Singapore's First Study On Matched Savings Schemes For Lower Income, Older Women, David Chan, Benedict S. K. Koh Oct 2018

Build Your Own Nest: Singapore's First Study On Matched Savings Schemes For Lower Income, Older Women, David Chan, Benedict S. K. Koh

Research Collection School of Social Sciences

Matched Savings Scheme is a research study, commissioned by the International Longevity Centre – Singapore (ILC – Singapore) of the Tsao Foundation and funded by the Tote Board, found that a monthly matched savings scheme is effective in sustaining the retirement savings behaviour among a group of 377 elderly women from low-income households over the study period of 18 months. The research, conducted by principal investigator psychology professor David Chan and co-investigator finance professor Benedict Koh, used an experimental design and longitudinal tracking to examine the effects that different factors of a matched savings scheme have on the participants’ decision …


Comments On Discussion Paper "Financial Instruments With Characteristics Of Equity" (Fice), Pearl Hock-Neo Tan Oct 2018

Comments On Discussion Paper "Financial Instruments With Characteristics Of Equity" (Fice), Pearl Hock-Neo Tan

Research Collection School Of Accountancy

Comments are given on the Discussion Paper issued by the International Accounting Standards Board in June 2018 on Financial Instruments with Characteristics of Equity. The comments are given in response to the Board's public invitation for feedback on the Discussion Paper. The comments convey the author's concerns about the Discussion Paper's proposals in the light of the conceptual framework of financial reporting and a fundamental understanding of what equity and liability is. The comments propose approaches that the Board may consider in its subsequent development of its proposals.