Business Commons^™

Reading Between The Lines: Not All Csr Is Good Csr, David K. Ding, Christo Ferreira, Udomsak Wongchoti

Research Collection Lee Kong Chian School Of Business

Purpose: This paper aims to investigate whether corporate social responsibility (CSR), as evidenced in annual financial reports, is associated with a firm’s financial performance in New Zealand. Design/methodology/approach: A word count approach of several key CSR indicators found in the audited financial reports of NZX50 constituent firms is used. Several variables are constructed that measure the presence of CSR within the annual report such as sustainability, responsibility, social, environment, diversity, employee and community, and eight other variables within the annual report that measure the penetration of stakeholder engagement. Control variables and alternative measures of CSR are also included. Descriptive statistics …

Prosocial Implicit Trait Policies Underlie Performance On Different Situational Judgment Tests With Interpersonal Content, Stephan J. Motowidlo, Filip Lievens, Kamalika Ghosh

Research Collection Lee Kong Chian School Of Business

This study tests the hypothesis that situational judgment tests (SJTs) with interpersonal content reflect implicit beliefs about the utility of prosocial action for job effectiveness and that agreeable people are more likely to believe that prosocial action is effective. Two hundred ninety-four undergraduates completed four different SJTs with interpersonal content and a measure of Agreeableness. Results show that the effectiveness of response options in these SJTs is positively correlated with the level of prosociality they express and that because of their prosocial elements, scores on different SJTs are correlated with one another and with Agreeableness. These results shed light on …

Transaction Cost Optimization For Online Portfolio Selection, Bin Li, Jialei Wang, Dingjiang Huang, Steven C. H. Hoi

Research Collection School Of Computing and Information Systems

To improve existing online portfolio selection strategies in the case of non-zero transaction costs, we propose a novel framework named Transaction Cost Optimization (TCO). The TCO framework incorporates the L1 norm of the difference between two consecutive allocations together with the principles of maximizing expected log return. We further solve the formulation via convex optimization, and obtain two closed-form portfolio update formulas, which follow the same principle as Proportional Portfolio Rebalancing (PPR) in industry. We empirically evaluate the proposed framework using four commonly used data-sets. Although these data-sets do not consider delisted firms and are thus subject to survival bias, …

Trajectory-Driven Influential Billboard Placement, Ping Zhang, Zhifeng Bao, Yuchen Li, Guoliang Li, Yipeng Zhang, Zhiyong Peng

Research Collection School Of Computing and Information Systems

In this paper we propose and study the problem of trajectory-driven influential billboard placement: given a set of billboards U (each with a location and a cost), a database of trajectories T and a budget L, find a set of billboards within the budget to influence the largest number of trajectories. One core challenge is to identify and reduce the overlap of the influence from different billboards to the same trajectories, while keeping the budget constraint into consideration. We show that this problem is NP-hard and present an enumeration based algorithm with (1−1/e) approximation ratio. However, the enumeration should be …

Running On Empty: Measuring Psychological Dependence In Close Relationships Lacking Satisfaction, Kenneth Tan, Ximenab. Arriaga, Christopher R. Agnew

Research Collection School of Social Sciences

Commitment has often been used to examine why individuals unjustifiably persist in relationships that are lacking in or devoid of satisfaction. However, the practicality of using commitment to examine these situations has been questioned because of its substantial association with satisfaction. Across three studies, we created a measure of nonvoluntary dependence and investigated the validity and reliability of the Nonvoluntary Dependence Scale from an investment model perspective. Exploratory and confirmatory factor analyses revealed evidence of a single factor and reliability analyses revealed good internal reliability for the measure. The new measure also evidenced desirable convergent and discriminant validity with respect …

Esg And Corporate Financial Performance: Empirical Evidence From China's Listed Power Generation Companies, Changhong Zhao, Yu Guo, Jiahai Yuan, Mengya Wu, Daiyu Li, Yiou Zhou, Jiangang Kang

Research Collection School Of Computing and Information Systems

Nowadays, listed companies around the world are shifting from short-term goals of maximizing profits to long-term sustainable environmental, social, and governance (ESG) goals. People have come to realize that ESG has become an important source of the corporate risk and may affect the company's financial performance and profitability. Recent research shows that good ESG performance could improve the financial performance in some countries. Yet, the question of how does ESG affect financial performance has not been thoroughly discussed and studied in China. In this article, we study China's listed power generation groups to explore the relationship between ESG performance and …

App-Titude Test: Reviewing Productivity-Boosting And Anxiety-Busting Apps, Nurin Nazifa Binte Mohd Yusoff

Social Space

Self-improvement apps have been on the market for a while, but judging from the general lack of reviews, not many have been put to the test. For this edition ofThe Short List, I downloaded five mobile applicationsclaiming to enhance productivity and lower anxiety levels, and tried them out over the course of a few weeks. Am I now more productive and relaxed? Maybe.But were they app-solutely essential? Read on to find out.

Silver Generation, Golden Age: Vanessa Keng, Nurin Nazifa Binte Mohd Yusoff

Social Space

Meet Vanessa Keng, 30, co-founder of The Golden Concepts,1 an e-tailer of innovative eldercare products designed to keep seniors independent and safe. Offering a wide catalogue of items sourced frominternational suppliers, you will find everything from wheelchairs and walking canes, to car accessories and doorknob grips. NURiN NaZiFa BiNTe MoHD YUSoFF catches up with Vanessa to learn more about “heart ware”, and her mission to leverage technology for social good.

The Technology Tide: Has It Hit The Shores Of Social Innovation?, Andrew Koh

Social Space

“We want a nice colour and it must look modern.”

That was the feedback some villagers gave during a design-thinking exercise regarding sanitation facilities. Although this took place several years ago, as part of my previous work in the international development sector, I remember the experience vividly. It struck me that most people—village-dwellers or Singaporeans alike—have similar aspirations for a better quality of living.

Standing Out In The Digital Economy, Singapore Management University

Perspectives@SMU

The pace of digital transformation is accelerating. How do we remain competitive and develop new skills for the ever-changing career market?

How Early Contributions Affect The Success Of Crowdfunding Projects, Singapore Management University

Perspectives@SMU

Raising money from family and friends is a common and effective way for start-ups. However, will it affect the success of crowdfunding initiatives?

Turning A Profit In The New News Landscape, Singapore Management University

Perspectives@SMU

Generating revenue requires engaging the reader instead of advertisers.

How A Blender Smashed The Secret Of Going Viral, Singapore Management University

Perspectives@SMU

A $50 campaign gained six million YouTube views in five days.

Digital Marketing For Smes, Singapore Management University

Perspectives@SMU

D-I-Y may not be a good idea for small business owners.

Safe And Secure? Not Without Digital Hygiene, Kunaciilan Nallappan

Social Space

A generation ago, one would scoff at the thought of renting clothes or carpooling with strangers. These days, however, it seems like the sharing economy has taken the world by storm. From ride-sharing to lodging, consumers are now looking at alternatives to traditional services and businesses.

Waste Not, Want Not: Rayner Loi, Mike Ross Carroll

Social Space

Meet Rayner loi, 23. He’s the founder of Good For Food, an IoT startup that tackles the food wastage problem in Singapore. He speaks to MiKe RoSS caRRoll about his mission to direct all food to hungry stomachs instead of full bins.

Tech To The Future: Is It Time To Curb The Tech Bandwagon?, Chris Oestereich

Social Space

Technology is a broad concept. We tend to think of it in terms of theflashy new devices, but it’s so muchmore than that. Generally speaking, it’s a lever through which we applyknowledge to gain benefits. Majoradvances throughout human history are obvious reminders of the things tech has enabled. From the time when ploughs pulled humanity from hunting and gathering, to the era in which cars congested our cities, tech has continually pressed forward.

How Does Interpersonal Justice Affect Outside Directors’ Governance Behavior? A Cross-Cultural Comparison, Esther B. Del Brio, Rosa M. Hernandez-Maestro, Toru Yoshikawa

Research Collection Lee Kong Chian School of Business

We examine the impact of interpersonal justice among outside directors on the board and between a director and the CEO regarding the director’s monitoring and resource provision behaviors in different cultural contexts. We argue that directors from individualistic countries are more influenced by CEO interpersonal justice while directors from collectivistic countries are more affected by the board interpersonal justice. Our main effect results indicate that interpersonal justice with board members is positively related to both monitoring and resource provision by a director, while CEO interpersonal justice is related only to resource provision. Our results also show different effects on the …

Easy Does It: Blockchain-Based Solutions For The Future, David Wong, Freddy Setiawan, Alvin Yong

Social Space

y now, most people are aware of Bitcoin and its meteoric rise in value. What is less known, however, is its underpinning technology, blockchain. Blockchain is a distributed ledger that records virtually all types of transactions.This distributed nature is reflected in itsphysical architecture, and is one of the main reasons for its strong resistance to hacking and its immutable nature.

All Systems Go: Building An Internet For Good, Sylvia Cadena

Social Space

The Internet has supercharged our ability to achieve development targets. Digital solutions, from both the public and private sectors, can facilitate unprecedented access to government and social services, banking andfinance, telehealth and well-being,education and training, employment opportunities, as well as create business opportunities.

The Relationships Of Team Diversity, Social Capital And Ambidexterity, Hock Seng Ng

Dissertations and Theses Collection (Open Access)

This study seeks to gain insights into the impact of team diversity on building ambidextrous teams, i.e., managing trade-offs of “exploiting the present” and “exploring the future.” Given the inconsistent findings of the effects of diversity on team outcomes to date, the effect (if any) will likely be mediated and/or moderated by contextual factors. Hence, in this study, I have examined team social capital to understand better its role in fostering the relationship between team diversity and team ambidexterity.

The results of this empirical study using 211 work teams (include 1,342 managers and employees) from two multi-national companies spanning fourteen …

Mine-Craft: Can Technology Take Us Towards A Mine-Free World?, Roshni Kapur

Social Space

Social enterprises are gradually changing the world with game-changing innovations that address global problems. But when it comes to the safe removal of unexploded ordnance—also known as landmines—will technology be the lasting solution?

Cross-Country Evidence On The Role Of Independent Media In Constraining Corporate Tax Aggressiveness, Kiridaran Kanagaretnam, Jimmy Lee, Chee Yeow Lim, Gerald J. Lobo

Research Collection School Of Accountancy

Using an international sample of firms from 32 countries, we study the relation between media independence and corporate tax aggressiveness. We measure media independence by the extent of private ownership and competition in the media industry. Using an indicator variable for tax aggressiveness when the firm’s corporate tax avoidance measure is within the top quartile of each country-industry combination, we find strong evidence that media independence is associated with a lower likelihood of tax aggressiveness, after controlling for other institutional determinants, including home-country tax system characteristics. We also find that the effect of media independence is more pronounced when the …

Do Independent Directors Tell The Truth, The Whole Truth, And Nothing But The Truth When They Resign?, Keren Bar-Hava, Sterling Huang, Benjamin Segal, Dan Segal

Research Collection School Of Accountancy

We examine the informativeness and credibility of independent directors’ stated resignation reasons. We posit that having access to private information, directors may resign in anticipation of weak future underperformance to limit damage to their reputation and further have an incentive to mask the reason for the resignation. Results show likelihood of resignation increases with director’s reputation and weak future firm performance. In addition, the evidence is consistent with directors obfuscating the reason for departure by providing benign and unverifiable resignation reasons. Investors seem aware of the disclosure incentives of departing directors and react negatively to such resignations. However, investors, by …

Foreign Direct Investment, A Movement Toward Investors' Centricity, A Behavioral Perspective, Jimmy Wee Teck Tan

Dissertations and Theses Collection (Open Access)

This dissertation proposal studies the determinants of Foreign Direct Investment (FDI) in a frontier economy from the behavioral perspective of a manager. There are many determinants used in determining a Foreign Direct Investment. These determinants range from economic, social, institutional, technology, organization, and commercial down to cultural distance. The objective of this research is not to duplicate the methodologies of many quantitative research studies that have been conducted, in which many economists use quantitative analysis of several years of data to determine the many factors that correlate with levels of FDI. The behavioral aspect of a manager’s decision is noticeably …

Allocation Of Decision Rights Between The Parent Company And Its Subsidiaries, Yuanyuan Liu, Ting Luo, Heng Yue

Research Collection School Of Accountancy

This article examines the determinants of allocation of decision rights between the parent company and its subsidiaries, and the economic consequence of suboptimal power structure. Based on China’s unique double disclosure for the parent company and the whole group, we construct a decentralization index to measure how decision rights are allocated within the group companies. We find a more decentralized (centralized) power structure for the groups with more uncertain (certain) external environment and with poorer (better) internal information quality. We also show that the groups with suboptimal power structure have weaker future performance.

Executive Compensation And Cash Contributions To Defined Benefit Pension Plans, Qiang Cheng, Laura Swenson

Research Collection School Of Accountancy

Pension contribution has a significant impact on firm valuation, employee benefit, and the financial situation of the Pension Benefit Guaranty Corporation (PBGC). Using a comprehensive dataset of defined benefit pension (DB) plan contributions, we investigate economic and accounting determinants of pension contributions. We argue that a firm’s pension contribution decision reflects the trade-off between the benefit – reducing the pension liability, and the cost – reducing cash flows from operations and cash available for other purposes. With respect to economic determinants, we find that firms contribute more when funding status is low and when profitability, cash flows from operations and …

The Predictive Power Of People's Intraindividual Variability Across Situations: Implementing Whole Trait Theory In Assessment, Filip Lievens, Jonas W. B. Lang, Filip De Fruyt, Myrjam Van De Vijver, Ronald Bledow

Research Collection Lee Kong Chian School Of Business

In the last decade, there has been increased recognition that traits refer not only to between-person differences but also to meaningful within-person variability across situations (i.e., whole trait theory). So far, this broader more contemporary trait conceptualization has made few inroads into assessment practices. Therefore, this study focuses on the assessment and predictive power of people’s intraindividual variability across situations. In three studies (either in student or employee samples), both test-takers’ mean trait scores and the variability of their responses across multiple written job-related situations of a situational judgment test (SJT) were assessed. Results revealed that people’s intraindividual variability (a) …

The Role Of Space And Time In Balancing Conflicting Pressures Through Routine Dynamics, Kenneth T. Goh, Claus Rerup

Research Collection Lee Kong Chian School Of Business

To examine how spaces and the temporal context shape routine actions that balance conflicting pressures for efficiency and flexibility, we conducted an ethnography of the product development process, known as the scrum routine, in a video game development studio. We trace the temporal patterning of scrum meetings to reveal the mutual constitution of spaces and the temporal context. Examining how the co-constitution of space and time shapes actions and artifact use in the scrum routine reveals that balancing occurs through coalescing, reconstituting, standardizing, and reorganizing actions. From these findings, we develop a conceptual model of how pressures for efficiency and …

Do Hedge Funds Exploit Rare Disaster Concerns?, George P. Gao, Pengjie Gao, Zhaogang Song

Research Collection Lee Kong Chian School Of Business

We find hedge funds that have higher return covariation with a disaster concern index, which we develop through out-of-the-money puts on various economic sector indices, earn significantly higher returns in the cross-section. We provide evidence that these funds’ managers are more skilled at exploiting the market’s ex ante rare disaster concerns (SEDs), which may not be associated with disaster risk. In particular, high-SED funds, on average, outperform low-SED funds by 0.96% per month, but have less exposure to disaster risk. They continue to deliver superior future performance when SEDs are estimated using the disaster concern index purged of disaster risk …