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Articles 2911 - 2940 of 6939

Full-Text Articles in Business

Factors Driving Financial Inclusion And Financial Performance In Fintech New Ventures: An Empirical Study, Miguel Angel Soriano Dec 2017

Factors Driving Financial Inclusion And Financial Performance In Fintech New Ventures: An Empirical Study, Miguel Angel Soriano

Dissertations and Theses Collection (Open Access)

Financial inclusion, or providing access to and active use of affordable financial products to the 2 billion unbanked adults globally, can facilitate individual prosperity, reduce poverty and increase economic development. Digital technologies such as mobile phones, cloud computing, data analytics and blockchain are one of the biggest enablers of financial inclusion by making it economically possible to serve these individuals. This dissertation examined the role of digital technologies in financial inclusion from the perspective of new financial technology (Fintech) ventures serving the unbanked and underbanked. Supported by strategy management theories, I identified key factors that impact the success of these …

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Technical Note—On The Relation Between Several Discrete Choice Models, Guiyun Feng, Xiaobo Li, Zizhuo Wang Dec 2017

Technical Note—On The Relation Between Several Discrete Choice Models, Guiyun Feng, Xiaobo Li, Zizhuo Wang

Research Collection Lee Kong Chian School Of Business

In this paper, we study the relationship between several well known classes of discrete choice models, i.e., the random utility model (RUM), the representative agent model (RAM), and the semiparametric choice model (SCM). Using a welfare-based model as an intermediate, we show that the RAM and the SCM are equivalent. Furthermore, we show that both models as well as the welfare-based model strictly subsume the RUM when there are three or more alternatives, while the four are equivalent when there are only two alternatives. Thus, this paper presents a complete picture of the relationship between these choice models.

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Hedge Fund Franchises, William Fung, David Hsieh, Narayan Y. Naik, Melvyn Teo Dec 2017

Hedge Fund Franchises, William Fung, David Hsieh, Narayan Y. Naik, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

Duplicate, see https://ink.library.smu.edu.sg/lkcsb_research/5964/. We investigate the growth strategies of hedge fund firms. We find that firms with successful first funds are able to launch follow-on funds that charge higher performance fees, set more onerous redemption terms, and attract greater inflows. Motivated by the aforementioned spillover effects, first funds outperform follow-on funds, after adjusting for risk. The multiple-product growth strategy hurts investors while benefiting hedge fund firms; multiple-product firms underperform single-product firms but harvest greater fee revenues. Investors respond to this growth strategy by redeeming from first funds of firms with follow-on funds that do poorly. Moreover, skilled investors allocate …

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An Assessment Of When, Where And Under What Conditions In-Store Sampling Is Most Effective, Sandeep R. Chandukala, Jeffrey P. Dotson, Qing Liu Dec 2017

An Assessment Of When, Where And Under What Conditions In-Store Sampling Is Most Effective, Sandeep R. Chandukala, Jeffrey P. Dotson, Qing Liu

Research Collection Lee Kong Chian School Of Business

In-store product sampling is a commonly used promotional technique designed to give prospective consumers an opportunity to experience a product prior to purchase. While prior research has documented a positive relationship between short-term sales and perceptual measures of the customer shopping experience, little is known about the long-term impact of sampling or factors that moderate its success. In this paper, we develop an empirical approach that allows us to study the short-term and long-term effects of in-store sampling on both own and competitive products. We apply our approach to six store-level scanner data sets across four different product categories and …

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Sell Side Benchmarks, Ohad Kadan, Leonardo Madureira, Rong Wang, Tzachi Zach Dec 2017

Sell Side Benchmarks, Ohad Kadan, Leonardo Madureira, Rong Wang, Tzachi Zach

Research Collection Lee Kong Chian School Of Business

Sell-side analysts employ different benchmarks when defining their stock recommendations. For example, a ‘buy’ for some brokers means the stock is expected to outperform its peers in the same sector (“sector benchmarkers”), while for other brokers it means the stock is expected to outperform the market (“market benchmarkers”), or just some absolute return (“total benchmarkers”). We explore the validity and implications of the adoption of these different benchmarks. Analysis of the relation between analysts’ recommendations and their long-term growth and earnings forecasts suggests that analysts indeed abide by their benchmarks: Sector benchmarkers rely less on across-industry information, and focus more …

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Motives Of Corporate Political Donations: Industry Regulation, Subjective Judgement And The Origins Of Pragmatic And Ideological Corporations, Nicholas M. Harrigan Dec 2017

Motives Of Corporate Political Donations: Industry Regulation, Subjective Judgement And The Origins Of Pragmatic And Ideological Corporations, Nicholas M. Harrigan

Research Collection School of Social Sciences

What motivates corporate political action? Are corporations motivated by their own narrow economic self-interest; are they committed to pursuing larger class interests; or are corporations instruments for status groups to pursue their own agendas? Sociologists have been divided over this question for much of the last century. This paper introduces a novel case - that of Australia - and an extensive dataset of over 1,500 corporations and 7,500 directors. The paper attempts to understand the motives of corporate political action by examining patterns of corporate political donations. Using statistical modelling, supported by qualitative evidence, the paper argues that, in the …

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Business Vehicles, Vincent Ooi Dec 2017

Business Vehicles, Vincent Ooi

Research Collection Yong Pung How School Of Law

When one or more individuals decide to start a business, they can select an appropriate business vehicle from a range of options. There are many commercial and legal reasons which may help to determine that choice.Aside from tax considerations, other major issues to consider include:• the limitation of liability if a company or limited liability partnership is used;• the expectations of suppliers and customers;• the ease of administration, including closing down, of an unincorporated business, and• the requirement to publish information such as profits and remuneration in the case of companies

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Inventory Management Based On Target-Oriented Robust Optimization, Yun Fong Lim, Chen Wang Dec 2017

Inventory Management Based On Target-Oriented Robust Optimization, Yun Fong Lim, Chen Wang

Research Collection Lee Kong Chian School Of Business

We propose a target-oriented robust optimization approach to solve a multi-product, multi-period inventory management problem subject to ordering capacity constraints. We assume the demand for each product in each period is characterized by an uncertainty set, which depends only on a reference value and the bounds of the demand. Our goal is to find an ordering policy that maximizes the sizes of all the uncertainty sets such that all demand realizations from the sets will result in a total cost lower than a pre-specified cost target. We prove that a static decision rule is optimal for an approximate formulation of …

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Clogged Intermediation: Were Home Buyers Crowded Out?, Hyunsoo Choi, Hyun-Soo Choi, Jung-Eun Kim Dec 2017

Clogged Intermediation: Were Home Buyers Crowded Out?, Hyunsoo Choi, Hyun-Soo Choi, Jung-Eun Kim

Research Collection Lee Kong Chian School Of Business

Post-crisis policy interventions significantly increased the demand for mortgage refinancing, but could this surge in refinancing applications have crowded out the supply of credit to home buyers? In this paper, we examine two frictions that hamper financial intermediation and result in banks' substitution of home purchase loans for refinance loans: The risk capacity channel through which banks with limited risk appetites prefer safer loans over riskier loans, and the operating capacity channel through which banks with limited operating capacities prefer applications that require less screening time. We find that following the recent financial crisis, banks facing these capacity constraints indeed …

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Base Faith, Stefano Harney, Fred Moten Dec 2017

Base Faith, Stefano Harney, Fred Moten

Research Collection Lee Kong Chian School Of Business

The earth moves against the world. And today the response of the world is clear. The world answers in fire and flood. The more the earth churns the more vicious the world’s response. But the earth still moves. Tonika Sealy Thompson might call it a procession. The earth’s procession is not on the world’s calendar. It is not a parade on a parade ground. It is not in the world’s teleology. Nor is the procession exactly a carnival played to mock or overturn this parade, to take over its grounds. A procession moves unmoved by the world. The earth’s procession …

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Volume Information In Nikkei And Topix Futures Transactions, Chyng Wen Tee, Christopher Ting Dec 2017

Volume Information In Nikkei And Topix Futures Transactions, Chyng Wen Tee, Christopher Ting

Research Collection Lee Kong Chian School Of Business

According to the Kyle (1985) model of informed trading, information in trade size is likely to effect a permanent price impact. However, two prominent structural models in the literature do not include trade size in their framework. In this paper, we present a nesting relationship of major structural models and formulate a generalized model that includes all trade variables. A new measure to quantify the amount of information in the order flow is proposed. Our empirical analysis shows that it is indeed the "surprise" in trade size that contributes significantly in reflecting the price change of Nikkei and TOPIX futures.

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What Happens Online Stays Online? Segment-Specific Online And Offline Effects Of Banner Advertisements, Lara Lobschat, Ernst C. Osinga, Werner J. Reinartz Dec 2017

What Happens Online Stays Online? Segment-Specific Online And Offline Effects Of Banner Advertisements, Lara Lobschat, Ernst C. Osinga, Werner J. Reinartz

Research Collection Lee Kong Chian School Of Business

Many firms allocate increasing parts of their advertising budgets to banner advertising. Yet, for firms that predominantly sell offline, existing research provides little guidance on online advertising decisions. In this study, the authors analyze the impact of banner advertising on consumers' online and offline behavior across multiple distinct campaigns for one focal firm, which predominantly sells through the offline channel. Results suggest that banner and TV advertising increase website visit incidence for consumers who had not visited the focal firm's website in the previous four weeks (non-recent online consumers). For these consumers, banner and TV advertisements indirectly increase offline sales …

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Capacity Management In Agricultural Commodity Processing And Application In The Palm Industry, Onur Boyabatli, Jason Quang Dang Nguyen, Tong Wang Dec 2017

Capacity Management In Agricultural Commodity Processing And Application In The Palm Industry, Onur Boyabatli, Jason Quang Dang Nguyen, Tong Wang

Research Collection Lee Kong Chian School Of Business

This paper examines the capacity investment decisions of a processor that uses a commodity input to produce both a commodity output and a byproduct in the context of agricultural industries. We employ a multi-period model to study the optimal one-time processing and (output) storage capacity investment decisions---in addition to the periodic processing and inventory decisions---when both input and output spot prices as well as production yield are uncertain. We characterize the optimal decisions and perform sensitivity analysis to investigate how spot price uncertainty affects the processor's optimal capacity and profitability. Using a calibration based on the palm industry, we study …

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Cultural Preferences In International Trade: Evidence From The Globalization Of Korean Pop Culture, Pao-Li Chang, Iona Hyojung Lee Dec 2017

Cultural Preferences In International Trade: Evidence From The Globalization Of Korean Pop Culture, Pao-Li Chang, Iona Hyojung Lee

Research Collection School Of Economics

The Korean pop culture (TVdramas and K-pop music) has grown immensely popular across the globe over thepast two decades. This paper analyzes its impacts on international trade. We compilea cross-country panel dataset of South Korea's TV show exports to over 150countries for the period of 1998{2014. These variations in exposure to Koreanpop cultures are used to identify changes in consumer preferences for Koreanmerchandise across time, countries, and products (at the HS 4-digit level).First, we find that more Korean TV show exports significantly increase Koreanexports of goods for women, while the effects are much smaller on men'smerchandise. This strongly supports the …

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The Interaction Between Operational Flexibility And Financial Flexibility, Onur Boyabatli, Tiecheng Leng Dec 2017

The Interaction Between Operational Flexibility And Financial Flexibility, Onur Boyabatli, Tiecheng Leng

Research Collection Lee Kong Chian School Of Business

This paper examines the interaction between operational flexibility and financial flexibility in a multi-product business unit that makes operational decisions based on financial resources provided by its parent company (or headquarters). We capture operational flexibility through investment in flexible technology and financial flexibility through higher availability of financial resources. We consider the flexible-versus-dedicated technology choice and capacity investment decisions of a two-product business unit under demand uncertainty in the presence of budget constraints. The unit operates under a capital budget for financing the capacity investment, and an operating budget, which is uncertain in the capacity investment stage, for financing the …

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Clogged Intermediation: Were Home Buyers Crowded Out?, Hyunsoo Choi, Hyun-Soo Choi, Jung-Eun Kim Dec 2017

Clogged Intermediation: Were Home Buyers Crowded Out?, Hyunsoo Choi, Hyun-Soo Choi, Jung-Eun Kim

Research Collection Lee Kong Chian School Of Business

Post-crisis policy interventions significantly increased the demand for mortgage refinancing, but could this surge in refinancing applications have crowded out the supply of credit to home buyers? In this paper, we examine two frictions that hamper financial intermediation and result in banks' substitution of home purchase loans for refinance loans: The risk capacity channel through which banks with limited risk appetites prefer safer loans over riskier loans, and the operating capacity channel through which banks with limited operating capacities prefer applications that require less screening time. We find that following the recent financial crisis, banks facing these capacity constraints indeed …

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Enterprise Social Media Use And Impact On Performance: The Role Of Workplace Integration And Positive Emotions, Murad Moqbel, Fiona Fui-Hoon Nah Dec 2017

Enterprise Social Media Use And Impact On Performance: The Role Of Workplace Integration And Positive Emotions, Murad Moqbel, Fiona Fui-Hoon Nah

Research Collection School Of Computing and Information Systems

Organizations struggle to find ways to improve employees’ performance. To date, little research has empirically examined the relationship between enterprise social media use and knowledge workers’ performance. Using social capital theory and the broaden-and-build theory of positive emotions as our theoretical framework, we investigate the relationship between enterprise social media use and knowledge workers’ performance. We tested our research model by collecting data from employees working for a large information technology firm in the Midwestern United States and analyzing the data using a structural equation modeling approach. The results suggest that enterprise social media use can increase workplace integration, which …

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Customer Satisfaction Index Of Singapore 2017: Q3 Results, Institute Of Service Excellence, Smu Nov 2017

Customer Satisfaction Index Of Singapore 2017: Q3 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 and across countries. This is the CSISG’s eleventh year of measurement.

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How To Design For Your Customers, Selma Bamadhaj, Nur Rulhuda Nov 2017

How To Design For Your Customers, Selma Bamadhaj, Nur Rulhuda

Research Collection Institute of Service Excellence (2007-2024)

Selma Bamadhaj and Nur Rulhuda of Lully Selb school us in the importance of personalised service and turning customers into friends.

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Serendipitous Stylings, Yi Lian Ng Nov 2017

Serendipitous Stylings, Yi Lian Ng

Research Collection Institute of Service Excellence (2007-2024)

Multihyphenate Yi Lian Ng reflects on her seemingly radical career change and life as a florist, freelance writer and stylist, and accidental entrepreneur

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Growing Together, Shannon Ong, Mike Foo Nov 2017

Growing Together, Shannon Ong, Mike Foo

Research Collection Institute of Service Excellence (2007-2024)

Shannon Ong and Mike Foo of Woods in the Books discuss the significance of diverse stories and the importance of growing with your customers.

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It Takes Two, Faye Sit, Ernest Ting Nov 2017

It Takes Two, Faye Sit, Ernest Ting

Research Collection Institute of Service Excellence (2007-2024)

Faye Sit and Ernest Ting of Hook Coffee contemplate Singapore’s service standards and if the Singapore market is ready for better service.

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Paying It Forward, Joshua Sim Nov 2017

Paying It Forward, Joshua Sim

Research Collection Institute of Service Excellence (2007-2024)

Joshua Sim, founder of The Beautiful Moment Photography, defines service excellence in a surprisingly relatable way — through emotional intelligence.

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Sustaining Singapore’S Stories, Edmund Wee Nov 2017

Sustaining Singapore’S Stories, Edmund Wee

Research Collection Institute of Service Excellence (2007-2024)

Edmund Wee of Epigram Books considers the importance of local literature and his commitment to nurturing local storytellers.

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Elemental Connections, Silas Lee Nov 2017

Elemental Connections, Silas Lee

Research Collection Institute of Service Excellence (2007-2024)

Silas Lee, Founder of COO Boutique Hostel, weighs in on the role of technology in customer service and how face-to-face relationships trump all.

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The Future Of Local Food, Eng Su Lee Nov 2017

The Future Of Local Food, Eng Su Lee

Research Collection Institute of Service Excellence (2007-2024)

Restaurateurs Lee Eng Su and Lee Chan Wai share their views on Singapore’s hawker food culture and how they want to change Singapore’s food industry.

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When Elites Forget Their Duties: The Double-Edged Sword Of Prestigious Directors On Boards, Jana Oehmichen, Daniel Braun, Michael Wolff, Toru Yoshikawa Nov 2017

When Elites Forget Their Duties: The Double-Edged Sword Of Prestigious Directors On Boards, Jana Oehmichen, Daniel Braun, Michael Wolff, Toru Yoshikawa

Research Collection Lee Kong Chian School of Business

Previous research indicates that the performance effect of prestigious directors is ambiguous. Our study addresses this issue by integrating the theoretical lens of board capital and the institutional perspective. We argue that prestigious directors can bring benefits as well as costs. We claim that the emergence of these costs depends on the institutional context, specifically the institutional characteristics of the country's corporate elite circle which is characterized by the elite cohesion and the elite exclusiveness. Our empirical results with a 15-country sample covering the period of 2005 to 2014 provide evidence for the overall existence of a positive performance effect …

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Creating Meaning In Work, Eunyce Yap, Joanna Lam Nov 2017

Creating Meaning In Work, Eunyce Yap, Joanna Lam

Research Collection Institute of Service Excellence (2007-2024)

Eunyce Yap and Joanna Lam, Founders of fashion label, Love & Bravery, tell us why there should always be more to business than just the bottom line.

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The Chicago Plan: How Sustainable Is Debt Being Funded?, Deepika Deshpande Nov 2017

The Chicago Plan: How Sustainable Is Debt Being Funded?, Deepika Deshpande

Asian Management Insights

The World Debt Clock is ticking away. The real problem is not how the debt is funded but whether it is sustainable.

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Team Of Rivals: Co-Opetition For Technology Start-Ups, Snehal Shah, Ashish Kumar Jha Nov 2017

Team Of Rivals: Co-Opetition For Technology Start-Ups, Snehal Shah, Ashish Kumar Jha

Asian Management Insights

A business environment characterised by cloud computing, driverless cars and artificial intelligence has prompted a fundamental shift in the way we think of existing business models. Market sizes have transcended geographic boundaries and New Age firms typically target much larger populations than new firms did a decade ago. Today, meaningful value is derived when a company is an active participant in shaping the environment to one’s own strategic advantage.

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