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Full-Text Articles in Business

Real Estate Risk, Corporate Investment And Financing Choice, Xiaoying Deng, Seow Eng Ong, Meijun Qian Jul 2018

Real Estate Risk, Corporate Investment And Financing Choice, Xiaoying Deng, Seow Eng Ong, Meijun Qian

Research Collection Lee Kong Chian School Of Business

This paper empirically examines how real estate risk impacts corporate investment and financing decisions. Using a panel of United States firms from 1985 to 2013, we document that real estate risk is negatively associated with firms’ long-term investments and long-term external financing in equity and debt. The results are robust to different risk measurements and in particular salient during the financial crisis period when the endogeneity between risk and investment is less of a concern. The effect on firm leverage, however, depends on risk measures. Overall, in contrast to previously documented positive effects of the real estate value, real estate …


Moved By Conflict: Exploring The Relationship Between Experienced Conflict And Individual Mobility Patterns, Nur Camellia Binte Zakaria, Kenneth T. Goh, Youngki Lee, Rajesh Krishna Balan Jul 2018

Moved By Conflict: Exploring The Relationship Between Experienced Conflict And Individual Mobility Patterns, Nur Camellia Binte Zakaria, Kenneth T. Goh, Youngki Lee, Rajesh Krishna Balan

Research Collection School Of Computing and Information Systems

We explore how mobility patterns relate to team processes and states. 39 students in project teams were tracked over 82 days, yielding up to 8 million records. Preliminary analysis of this big dataset and interview data revealed differences in the mobility patterns of individuals based on their experience of conflict.


One Man’S Tale Of Resisting The Seducing Spa Sirens Of Singapore, Gary Low Jul 2018

One Man’S Tale Of Resisting The Seducing Spa Sirens Of Singapore, Gary Low

Research Collection Yong Pung How School Of Law

Why do people give in to pressure selling in the slimming and beauty industry? One consumer lawprofessor explores the dazzling experience of stepping into a spa.


Robust Assignment Of Customer Orders With Uncertain Configurations In A Production Network For Aircraft Manufacturing, Jens Buergin, Philippe Blaettchen, Juri Kronenbitter, Katharina Molzahn, Yannick Schweizer, Caroline Strunz, Manuel Almagro, Frank Bitte, Stephan Ruehr, Marcello Urgo, Gisela Lanza Jul 2018

Robust Assignment Of Customer Orders With Uncertain Configurations In A Production Network For Aircraft Manufacturing, Jens Buergin, Philippe Blaettchen, Juri Kronenbitter, Katharina Molzahn, Yannick Schweizer, Caroline Strunz, Manuel Almagro, Frank Bitte, Stephan Ruehr, Marcello Urgo, Gisela Lanza

Research Collection Lee Kong Chian School Of Business

Production of multi-variant products in a network requires the assignment of customer orders to locations and periods. This is a highly complex planning task, as requirements of procurement, production, distribution, and sales have to be considered. Providing customers with the flexibility of configuring their ordered products after order assignment further increases the complexity of the planning task by taking uncertainty into account. Therefore, a robust optimisation model, using scenarios representing potential customer-specific order configurations, is introduced. By providing enough flexibility to handle maximum work overload caused by the potential order configurations at locations, a robust assignment of orders can be …


Towards A Dynamic Theory Of Enacted Complexity, Kenneth T. Goh, Brian T. Pentland Jul 2018

Towards A Dynamic Theory Of Enacted Complexity, Kenneth T. Goh, Brian T. Pentland

Research Collection Lee Kong Chian School Of Business

To develop new theory about the dynamics of enacted ask complexity, we analyze 15-months of field data from a video game development project consisting of observations, interviews, and an archival analysis of 2,428 tasks to present a novel way of conceptualizing and visualizing the complexity of emergent processual phenomena.


On The Design Of Sparse But Efficient Structures In Operations, Zhenzhen Yan, Sarah Yini Gao, Chung Piaw Teo Jul 2018

On The Design Of Sparse But Efficient Structures In Operations, Zhenzhen Yan, Sarah Yini Gao, Chung Piaw Teo

Research Collection Lee Kong Chian School Of Business

It is widely believed that a little flexibility added at the right place can reap significant benefits for operations. Unfortunately, despite the extensive literature on this topic, we are not aware of any general methodology that can be used to guide managers in designing sparse (i.e., slightly flexible) and yet efficient operations. We address this issue using a distributionally robust approach to model the performance of a stochastic system under different process structures. We use the dual prices obtained from a related conic program to guide managers in the design process. This leads to a general solution methodology for the …


Government Intervention In Corporate Crises: An Asian Perspective, Augustine Pang, Paige Pei-Hua Tan Jul 2018

Government Intervention In Corporate Crises: An Asian Perspective, Augustine Pang, Paige Pei-Hua Tan

Research Collection Lee Kong Chian School Of Business

Governments are expected to intervene in national crises like natural disasters (Rosenthal & Kouzmin, 1997). Less clear are corporate crises. In recent years, there have been several corporate crises in Asia where governments have intervened to restore confidence. The paper seeks to examine the roles and extent of Asian governmental intervention in corporate crises, particularly it examines the impact Asian governments – described as paternalistic (Shin & Sin, 2012) – have on corporate crises. Five high profile Asian corporate crises were analyzed through Winkler’s (1977) Theory of Corporatism. Impact was analyzed through Boin and ’t Hart’s (2010) nine crisis response …


The Real Effects Of Exchange Traded Funds, Frank Weikai Li, Xuewen Liu, Chengzhu Sun Jul 2018

The Real Effects Of Exchange Traded Funds, Frank Weikai Li, Xuewen Liu, Chengzhu Sun

Research Collection Lee Kong Chian School Of Business

This paper investigates the effects of exchange-traded funds (ETFs) on the real efficiency of the underlying securities. We document strong evidence that being held by ETFs increases the sensitivity of a firm's investment to its own stock price. This is consistent with the model prediction on the managerial learning channel. Higher ownership by ETFs increases the firm's stock price informativeness about systematic shocks but may decrease the informativeness about firm-specific shocks; however, the firm manager cares most and wants to learn from the stock price mainly about systematic shocks in making investment decisions as he already has precise private information …


A Small Entrepreneurial City In Action: Policy Mobility, Urban Entrepreneurialism, And Politics Of Scale In Jiyuan, China, Shenjing He, Lingyue Li, Yong Zhang, Jun Wang Jul 2018

A Small Entrepreneurial City In Action: Policy Mobility, Urban Entrepreneurialism, And Politics Of Scale In Jiyuan, China, Shenjing He, Lingyue Li, Yong Zhang, Jun Wang

Research Collection College of Integrative Studies

This research details the mundane practices of policy mobility and entrepreneurial endeavour in Jiyuan in relation to the city's changing administrative position, and is one of the first attempts at understanding how entrepreneurial policies are mobilized, mutated and diffused in a small inland Chinese city. We interpret Jiyuan's evolving development strategies and trajectory through two interrelated conceptual lenses—policy mobility and urban entrepreneurialism—bridged by an analysis of the politics of scale. Over the past three decades, governance strategies in Jiyuan have evolved from policy imitation, during the germination of urban entrepreneurialism, to policy mutation and diffusion, under the amplification of entrepreneurialism, …


Striving To Earn More: A Survey Of Work Strategies And Tool Use Among Crowd Workers, Toni Kaplan, Susumu Saito, Kotaro Hara, Jeffrey P. Bigham Jul 2018

Striving To Earn More: A Survey Of Work Strategies And Tool Use Among Crowd Workers, Toni Kaplan, Susumu Saito, Kotaro Hara, Jeffrey P. Bigham

Research Collection School Of Computing and Information Systems

Earning money is a primary motivation for workers on Amazon Mechanical Turk, but earning a good wage is difficult because work that pays well is not easily identified and can be time-consuming to find. We explored the strategies that both low- and high-earning workers use to find and complete tasks via a survey of 360 workers. Nearly all workers surveyed had earning money as their primary goal, and workers used many of the same tools (browser extensions and scripts) and strategies in an attempt to earn more money, regardless of earning level. However, high-earning workers used more tools, were more …


Modeling Contemporaneous Basket Sequences With Twin Networks For Next-Item Recommendation, Duc Trong Le, Hady W. Lauw, Yuan Fang Jul 2018

Modeling Contemporaneous Basket Sequences With Twin Networks For Next-Item Recommendation, Duc Trong Le, Hady W. Lauw, Yuan Fang

Research Collection School Of Computing and Information Systems

Our interactions with an application frequently leave a heterogeneous and contemporaneous trail of actions and adoptions (e.g., clicks, bookmarks, purchases). Given a sequence of a particular type (e.g., purchases)-- referred to as the target sequence, we seek to predict the next item expected to appear beyond this sequence. This task is known as next-item recommendation. We hypothesize two means for improvement. First, within each time step, a user may interact with multiple items (a basket), with potential latent associations among them. Second, predicting the next item in the target sequence may be helped by also learning from another supporting sequence …


Soa Maturity Influence On Digital Banking Transformation, Alan Megargel, Venky Shankararaman, Terence P. C. Fan Jul 2018

Soa Maturity Influence On Digital Banking Transformation, Alan Megargel, Venky Shankararaman, Terence P. C. Fan

Research Collection School Of Computing and Information Systems

Digital Banking is an evolution of online banking, where the banks attempt to further enhance customer experience by integrating digital technologies such as mobile technology, social media and analytics. Traditional banks have the highest barriers to entry into the digital banking market due to the presence of legacy core banking systems. These legacy systems while still high performing and reliable, are inflexible to change and are not easily integrated to the modern application systems needed for delivering digital banking services across multiple online banking channels. One solution that is widely adopted in the industry to overcome this obstacle is the …


Regulating The Blockchain, Singapore Management University Jun 2018

Regulating The Blockchain, Singapore Management University

Perspectives@SMU

Collaboration, principles-based legislation, and accountability are crucial in regulating the cross-border and decentralised nature of the technology.


Customer Satisfaction Index Of Singapore 2018: Q1 Results, Institute Of Service Excellence, Smu Jun 2018

Customer Satisfaction Index Of Singapore 2018: Q1 Results, 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. 2018 marks the 12th year of measurement for the CSISG national study.


Foreword [June 2018, Issue 2], Neeta Lachmandas Jun 2018

Foreword [June 2018, Issue 2], Neeta Lachmandas

Research Collection Institute of Service Excellence (2007-2024)

In this issue, we speak to 10 small business owners representing a myriad of sectors about their experience and insight into growing their business in Singapore and the region, as well as their approach to customer satisfaction and service excellence.


Inventive Solutions, Alson Teo Jun 2018

Inventive Solutions, Alson Teo

Research Collection Institute of Service Excellence (2007-2024)

Alson Teo of Stamfles International reflects on inventing the iKook and why automation is essential to scale.


Building A Better Business With Retention Policies, Richard Huggins Jun 2018

Building A Better Business With Retention Policies, Richard Huggins

Research Collection Institute of Service Excellence (2007-2024)

Richard Huggins of Rabbit Carrot Gun comments on Singapore’s manpower challenges and his radical solutions


Investing In Service, Andre Huber Jun 2018

Investing In Service, Andre Huber

Research Collection Institute of Service Excellence (2007-2024)

Andre Huber of Huber’s Butchery looks at how family values have formed a cornerstone of their service vision.


Pursuing Quality, Zara Salahuddin, Arif Salahuddin Jun 2018

Pursuing Quality, Zara Salahuddin, Arif Salahuddin

Research Collection Institute of Service Excellence (2007-2024)

Zara and Arif Salahuddin of Bismillah Biryani exchange views on growing a family business and prioritising product quality.


Reframing Dining, Hsin Yao Cheng Jun 2018

Reframing Dining, Hsin Yao Cheng

Research Collection Institute of Service Excellence (2007-2024)

Cheng Hsin Yao of Picnic explains how he has future-proofed his latest restaurant with technology and design.


Passion Made Practical, Declan Ee Jun 2018

Passion Made Practical, Declan Ee

Research Collection Institute of Service Excellence (2007-2024)

Declan Ee of Castlery breaks down the importance of localising brand expansion and the difficulties of scaling customer service.


Designing Small Successes, Edwin Low Jun 2018

Designing Small Successes, Edwin Low

Research Collection Institute of Service Excellence (2007-2024)

Edwin Low of Supermama talks about how he’s built his team and the differences between Singaporean and Japanese customers


Creating A Customer-Centred Brand, Amira Geneid Jun 2018

Creating A Customer-Centred Brand, Amira Geneid

Research Collection Institute of Service Excellence (2007-2024)

Amira Geneid of Zahara discusses how the brand listens to their community to deliver beyond expectations. Zahara is a halal cosmetics line based in Singapore


Dressing The Future, Christopher Halim, Raena Lim Jun 2018

Dressing The Future, Christopher Halim, Raena Lim

Research Collection Institute of Service Excellence (2007-2024)

Christopher Halim and Raena Lim of Style Theory review the importance of appropriate automation and necessary systems in growing a young company.


Selling Service In Retail, Sharon Wong Jun 2018

Selling Service In Retail, Sharon Wong

Research Collection Institute of Service Excellence (2007-2024)

Sharon Wong of Motherswork speaks about expanding to China and building brand loyalty with customers and staff.


Managing The Risks Of Corporate Fraud: The Evidence From Hong Kong And Singapore, Wai Yee Wan, Christopher C. H. Chen, Chongwu Xia, Say Goo Jun 2018

Managing The Risks Of Corporate Fraud: The Evidence From Hong Kong And Singapore, Wai Yee Wan, Christopher C. H. Chen, Chongwu Xia, Say Goo

Research Collection Yong Pung How School Of Law

Since the Asian financialcrisis of 1997, Hong Kong and Singapore have implemented reforms that promote independenceand monitoring competency of the boards of directors of their listed companies.However, with the advent of the financial crisis of 2007/2008, a wave of fraudcases prompts the question as to the effectiveness of these reforms. Analysing asample of 62 listed companies which are found to have committed fraud between2007 and 2014, and comparing against a matched sample of no-fraud companies, wefind that the fraud companies tend to either combine the roles of chairman andchief executive officer (or they are close family members) and have fewer …


What Does It Take To Become A Partner At A Big 4 Accounting Firm? Insights From Singapore’S Experience, Gary Pan, Poh Sun Seow, Yang Hoong Pang, Kwong Sin Leong Jun 2018

What Does It Take To Become A Partner At A Big 4 Accounting Firm? Insights From Singapore’S Experience, Gary Pan, Poh Sun Seow, Yang Hoong Pang, Kwong Sin Leong

Research Collection School Of Accountancy

Due to the shift in partner’s identity, there have been growing interests in understanding characteristics, skills and behaviours of accounting partners. Given that Big 4 Accounting firms are supposedly international accounting firms that are organized in similar structures, an interesting question of whether the same partner qualities can be applied in the Big 4 accounting firms for a non-western context such as Asia. As far as we know, no such study has been conducted in an Asian context. We argue this could be of great interest to the Big 4 Accounting firms as Asia is one of their fastest growing …


Individual Lawyers, The Sec Revolving Door, And Comment Letters, Michael Shen, Samuel T. Tan Jun 2018

Individual Lawyers, The Sec Revolving Door, And Comment Letters, Michael Shen, Samuel T. Tan

Research Collection School Of Accountancy

Government officials, advocacy groups, and the business press have raised concerns that former SEC employees may continue to influence the SEC after leaving the agency. Using a hand-collected database of individual lawyers that represent firms in responding to SEC comment letters, we examine the impact of individual lawyers, and lawyers formerly employed by the SEC, on the comment letter process. We document significant differences between lawyers and law firms in their clients’ resistance to SEC comment letters, and find that firms that retain former SEC employees are larger, more profitable, and more likely to have received a comment letter raising …


Accounting Choices And The Legal Environment: The Impact Of The Ex Post Loss Rule, Teck Meng Junior Tan Jun 2018

Accounting Choices And The Legal Environment: The Impact Of The Ex Post Loss Rule, Teck Meng Junior Tan

Research Collection School Of Accountancy

Using a landmark Supreme Court decision as a natural experiment, I examine the impact of a fundamental requirement in securities litigation, the ex post loss rule, on income-decreasing accounting choices. Dura Pharmaceuticals v. Broudo (2005) established that plaintiffs must show that the alleged misrepresentations caused an actual economic loss. The case resolved a circuit split, allowing me to identify a treatment jurisdiction affected by Dura, and control jurisdictions in which the rule was already the prevailing legal standard. Motivated by legal analyses suggesting that Dura incentivizes firms to delay negative corrections, I hypothesize and find that treatment firms in high-litigation …


Shareholder Litigation And Corporate Disclosure: Evidence From Derivative Lawsuits, Thomas Bourveau, Yun Lou, Rencheng Wang Jun 2018

Shareholder Litigation And Corporate Disclosure: Evidence From Derivative Lawsuits, Thomas Bourveau, Yun Lou, Rencheng Wang

Research Collection School Of Accountancy

Using the staggered adoption of universal demand (UD) laws in the United States, we study the effect of shareholder litigation risk on corporate disclosure. We find that disclosure significantly increases after UD laws make it more difficult to file derivative lawsuits. Specifically, firms issue more earnings forecasts and voluntary 8-K filings, and increase the length of management discussion and analysis (MD&A) in their 10-K filings. We further assess the direct and indirect channels through which UD laws affect firms' disclosure policies. We find that the effect of UD laws on corporate disclosure is driven by firms facing relatively higher ex …