Business Commons^™

Business Schools And The External Environment: Where Are They Now?, Kai Peters, Howard Thomas, Michael Thomas

Research Collection Lee Kong Chian School Of Business

The article, the first of a two-part series, takes a look at the external environment facing business schools today. Major factors considered include the global landscape and related populism, funding shortfalls, increasing regulatory burdens, increased competition, and artificial intelligence. This combination of challenges, together with factors that are internal to business schools and universities and will be examined in an article later in the year, means that it is not an easy time to be the dean of a business school. Protecting present income streams, developing new sources of funds, and being agile are all paramount.

Unlocking The Power Of Socio-Knowledge Association For Enterprise Risk Identification In Stock Market, Zhenghao Liu, Keng Siau, Shaochen Yang, Feicheng Ma

Research Collection School Of Computing and Information Systems

Potential risk signals reflected in supply chain and equity connections between enterprises and social connections between investors are becoming crucial to identifying enterprise risks in addition to basic financial indicators. Traditional risk management systems face challenges in adapting to these complexities, highlighting the need for a proactive paradigm shift in risk management. Leveraging graph models such as social networks and knowledge graphs offers a promising approach to identifying and managing potential associated risks effectively. To bridge existing research gaps, a novel risk identification framework driven by social-knowledge graphs has been proposed, integrating graph deep learning and reinforcement learning techniques guided …

Government Guidance Funds And Corporate Innovation: An Empirical Examination Based On Hangzhou, Huaping Wang

Dissertations and Theses Collection (Open Access)

Since the establishment of China's first market-oriented government guidance fund in 2002, these funds have actively played a supportive role in addressing market failures and promoting the innovative development of technology enterprises by reducing information asymmetry in the primary equity market, releasing positive signals, and alleviating financing constraints. With the establishment and development of China's multi-tiered government guidance fund system, related research has gradually emerged. However, current studies primarily explore whether government guidance funds have fulfilled their role in fostering innovation from a macro perspective, with limited in-depth discussion from a micro-level on how these funds should conduct their investment …

Research On The Structural Antecedents And Contingencies Of Fluid Team Performance, Xiaodong Zhang

Dissertations and Theses Collection (Open Access)

In response to rapidly evolving markets and the pursuit of organizational agility, fluid teams—characterized by dynamic membership and flexible structures—have become prevalent as a key organizational form for addressing complex tasks and uncertainty. However, inherent challenges such as frequent member mobility and multiple project participation pose significant management difficulties and performance risks, including project delays and cost overruns, particularly evident in China's fintech sector. While existing research has begun examining fluid teams, systematic investigation into their structural antecedents and performance mechanisms—especially their contingencies across contexts—remains limited.

The study examines structural antecedents and contingencies of fluid team performance through a mixed-methods …

The Deterrence Effects Of Tax Whistleblower Laws: Evidence From New York’S False Claims Acts, Yoojin Lee, Shaphan Ng, Terry Shevlin, Aruhn Venkat

Research Collection School Of Accountancy

In this study, we provide evidence on the effects of state tax whistleblower laws. We exploit a novel 2010 amendment to New York’s False Claims Acts (FCA) that explicitly extended whistleblower incentives to corporate income tax whistleblowers. We identify treated firms (firms exposed to New York’s FCA) using establishment-level data and descriptive analyses. Using a sample of firms exposed to New York and neighboring states, we find evidence that New York’s FCA reduced state tax avoidance. In cross-sectional tests, we find that effects are increasing in firms that grant fewer employee stock options and industry regulation, consistent with deterrence increasing …

Intraday Volatility In Financial Markets: Evidence From High-Frequency Data, Haolin Wang

Dissertations and Theses Collection (Open Access)

In this study, we conduct an analysis of intraday spot volatility using high-frequency data from the SPDR S&P 500 ETF (SPY). We begin with the assumption that the intraday volatility of asset prices exhibits time-variation. To capture this dynamic behavior, we construct proxies for the unobserved spot volatility by applying appropriate estimators to the high-frequency price data. Following the estimation procedure, we employ various forecasting models to generate volatility forecasts. Finally, we evaluate and compare the predictive performance of these models using established forecast evaluation metrics, and analyze the results.

Determinants Of Trading Prices In State-Owned Asset And Equity Transactions: An Empirical Analysis From China, Lixiao Chen

Dissertations and Theses Collection (Open Access)

This thesis examines the determinants of pricing outcomes in state-owned asset transactions using a comprehensive dataset of 3,638 transactions from a major transitional economy. Contrary to conventional expectations, we find that fixed assets consistently receive less favorable pricing compared to equity assets, with significantly lower odds of trading above professional valuation and higher odds of trading below valuation. This pattern persists across multiple specifications and remains robust to propensity score matching approaches that address selection concerns. I further demonstrate that state-owned buyers secure significant advantages in transaction pricing, with dramatically lower odds of paying premiums over valuation or listing prices …

Optimizing Fulfillment Operations For Online Retailing, Yujie Sun

Dissertations and Theses Collection (Open Access)

This thesis investigates order fulfillment operations for online retailing. Order fulfillment encompasses the entire process of receiving, processing, and delivering customer orders. The rapid growth of e-commerce has heightened the demand for efficient fulfillment operations. This thesis explores strategies for optimizing order fulfillment in three scenarios. The first scenario studies cellular bucket brigade, a method for coordinating workers in an assembly line or order-picking environment to improve workflow efficiency. The second scenario investigates zone picking, serial bucket brigades and cellular bucket brigades with hand-off times. The third scenario focuses on autonomous robotic systems within package sortation centers.

Chapter 2 investigates …

Formation And Impact Of Informal Interest Groups: The Role Of Clan Culture, Bin Wang

Dissertations and Theses Collection (Open Access)

This study explores the role of clan culture in the formation and dynamics of informal interest groups, particularly focusing on how multiple identities, such as clan identity, educational identity, and professional identity, interact to influence the intention to join the informal interest group, and subsequently influence individual outcomes along with group support. Through in-depth interviews with 21 members of the “Clan X Alumni Group”, an informal group with a same surname, this study investigates how clan culture fosters a strong sense of group identity and belonging, enhancing collaboration, knowledge sharing, and psychological well-being among members. It also extends social identity …

Empirical Program Evaluation In Operations Management, Kai Tian

Dissertations and Theses Collection (Open Access)

This dissertation focuses on advancing and applying empirical program evaluation methodologies in Operations Management (OM), defining it not as mere prediction but as rigorously establishing causal effects of interventions. Chapter 2 lays the theoretical groundwork, defining empirical program evaluation within OM, detailing its alignment with causal inference, and outlining both classical econometric techniques and emerging Causal Machine Learning (CML) approaches for mitigating endogeneity. Building on this foundation, Chapter 3 presents an empirical application, evaluating the causal impact of a customer targeting strategy using live-streaming advertisements, employing Propensity Score Matching (PSM) in conjunction with linear regression models to derive actionable insights …

Monitoring Incentives And Tax Planning: Evidence From State-Owned Enterprises, Eva Eberhartinger, David M. P. Samuel

Research Collection School Of Accountancy

This study provides new evidence on the association of state ownership and tax planning by showing that a state owner’s monitoring incentives affect a firm’s tax planning. Using the setting of a developed market economy, Germany, we distinguish between state owners that directly benefit from state-owned enterprises’ (SOEs’) income tax payments and those that do not. Our results indicate that state ownership is not associated with less tax planning unless the state owner directly benefits from higher tax payments. These results are robust to various specifications and suggest that shareholders’ monitoring incentives are a determinant of a firm’s tax planning …

The Dynamics Of Power Transfer In Organizations: Examining Downward Deference And Its Workplace Consequences, Hoang Bao My Nguyen

Dissertations and Theses Collection (Open Access)

This dissertation examines managerial power transfer as a core mechanism through which less-hierarchical management unfolds in organizations. While traditional management research has emphasized formal authority and top-down control, emerging organizational forms increasingly call on managers to share power with subordinates. Despite growing interest in constructs like empowerment, delegation, and participative leadership, the phenomenon of power transfer remains conceptually fragmented and undertheorized.

To address this, the dissertation defines power transfer as the intentional redistribution of authority, control, or resources by powerholders to lower-power individuals. Chapter 1 develops a typology of power transfer behaviors, organized along two key dimensions: extent of control …

The Backdrop Of Leadership: How Environmental Awe Influences Charisma Attributions, Jack Mcguire, Nicolas Bastardoz, Leonie J. Hentrup, David De Cremer, Jochen I. Menges

Research Collection Lee Kong Chian School Of Business

Charisma is often attributed to leaders based on how they look, talk, and behave. Yet very little is known about the role of the physical environment in influencing attributions of leader charisma. The role of the physical environment is crucial because leaders inevitably occupy physical spaces that vary across contexts. In this research, we find that the grandeur of the physical environment, specifically in its ability to induce awe, enhances attributions of charisma for leaders who are not already known to be charismatic. First, in a field experiment, we show that a real business leader is attributed with more charisma …

Smu Appoints Professor Zhang Liandong As New Dean Of School Of Accountancy, Singapore Management University

SMU Press Releases and News

The Singapore Management University (SMU) has appointed Professor Zhang Liandong [张连栋教授] as the new Dean of its School of Accountancy (SOA), effective 1 July 2025. With over seven years of leadership experience at SOA, Professor Zhang will lead strategic initiatives to elevate the School’s academic reputation and impact.

Shareholder Satisfaction Or Societal Benefit? Coalition Support And Goal Prioritization, Man Zhang, Helen Hu, Toru Yoshikawa

Research Collection Lee Kong Chian School Of Business

Research on the behavioral theory of the firm has established that the profitability goal triggers various firm actions, but it has yet to thoroughly explore which other goals may gain prominence in directing firm resources if the profitability goal has been achieved. We identify shareholder satisfaction and societal benefit as two additional organizational goals and predict that when firms have achieved their profitability aspirations, the financial resources allocated to pursue these goals depend on the dominance of coalitions supporting or opposing them. Drawing on the coalition theory within the behavioral theory of the firm, we theorize that the prioritization and …

Of Headlamps And Marbles: A Motivated Perceptual Approach To The Dynamic And Dialectic Nature Of Fairness, Michael Ramsay Bashshur, Laurie J. Barclay, Marion Fortin

Research Collection Lee Kong Chian School Of Business

How do people perceive fairness? Recently, fairness scholars have raised important theoretical questions related to what information is used in fairness perceptions, why this information is emphasized, and how fairness perceptions can change over time. Integrating the Brunswikian lens approach with a motivated cognition perspective, we develop the Motivated Perceptual Approach (MPA) to highlight how people can be motivated to selectively perceive and weight cues to form fairness perceptions that align with their motives. However, these motives can change over time and through interaction with motivated others. By illuminating the dynamic and dialectic processes underlying fairness perceptions, the MPA sheds …

Toward Whole-Person Fit Assessment: Integrating Interests, Values, Skills, Knowledge, And Personality Using The Occupational Information Network (O*Net), Zihan Liu, Kevin A. Hoff, Chu Chu, Frederick L. Oswald, James Rounds

Research Collection Lee Kong Chian School Of Business

Measuring person–occupation fit serves many important purposes, from helping young people explore majors and careers to helping jobseekers assess fit with available jobs. However, most existing fit measures are limited in that they focus on single individual difference domains without considering how fit may differ across multiple domains. For example, a jobseeker might be highly interested in a job, yet not possess the requisite skills or knowledge to perform the job well. The current research addresses this issue by evaluating an integrative set of person–occupation fit assessments that measure 88 fit dimensions across five domains: vocational interests, work values, knowledge, …

Hdwsa2: A Secure Hierarchical Deterministic Wallet Supporting Stealth Address And Signature Aggregation, Xin Yin, Zhen Liu, Guomin Yang, Guoxing Chen, Haojin Zhu

Research Collection School Of Computing and Information Systems

Hierarchical Deterministic Wallet (HDW) and Stealth Address (SA) are widely used in cryptocurrency communities due to their functionality and security. In the preliminary version of this work (ESORICS 2022), we formally define the syntax and security models of Hierarchical Deterministic Wallet supporting Stealth Address (HDWSA), capturing the functionality and security requirements imposed by the practice in cryptocurrency. We propose a concrete HDWSA construction and prove its security in the random oracle model. Note that when applied in blockchain, in practice, signature aggregation could reduce the cost of computation, storage, and communication dramatically. In this full version, we develop HDWSA definition …

How Industrial Clusters Affect Technological Innovation: Evidence From Vanyang Small & Micro Industrial Park, Jianming Wu

Dissertations and Theses Collection (Open Access)

This study focuses on the mechanism through which industrial clusters enhance technological innovation among micro and small enterprises. Using the VanYang Micro-Enterprise Park in Zhejiang Province as a representative case, the research integrates perspectives from industrial cluster theory, innovation theory, and spatial economics to explore how clustered environments influence enterprise innovation performance through resource integration, knowledge spillovers, and organizational collaboration. Departing from traditional static comparative methods, this study adopts an event study approach to dynamically capture the impact trajectory and temporal structure of enterprise innovation performance, with "entry into the park" serving as the key event.

Based on panel data …

Analysis Of The Implementation Path Of Zero-Carbon Parks In The Context Of “Carbon Peak And Carbon Neutrality”, Jun Li

Dissertations and Theses Collection (Open Access)

With the introduction of China's "carbon peak and carbon neutrality" construction goals, it has become imperative to promote carbon reduction across all levels of domestic economic activities. As a critical component of economic activities, achieving zero-carbon goals in industrial parks is crucial for achieving the dual carbon objectives. This article focuses on analyzing the implementation pathways for zero-carbon parks, exploring how chemical parks can achieve zero-carbon emissions and their economic feasibility under existing policies and technologies. Through theoretical analysis, model development, and case application, this research provides systematic methodologies and recommendations for constructing zero-carbon parks.
This study confirms through empirical …

Research On Dual Performance Of Industrial Parks Driven By Big Data: Fsqca Analysis Using Resource-Based View, Xionghong Jiang

Dissertations and Theses Collection (Open Access)

Digital economic industrial parks serve as significant vehicles for the development of the digital economy, as highlighted in the national 14th FiveYear Plan for Digital Economy Development (hereinafter referred to as "the Plan"). The Plan identifies the digital transformation of industrial parks and clusters as a key task in the broader industrial digital transformation. Intelligent parks represent the future trend of park development. Current data reveals that there are over 80,000 industrial parks across China, with revenues of the top 100 parks in 2023 reaching RMB 37.9 trillion. In 2022 alone, investment in intelligent parks exceeded RMB 300 billion, a …

Competency Of Sales Employees In Knowledge-Intensive Industries An Empirical Study Based On The Pharmaceutical Industry, Yue Zhang

Dissertations and Theses Collection (Open Access)

With the rapid development of modern technology, the pharmaceutical industry is undergoing a period of unprecedented change. On the one hand, global population growth, aging, and the continued increase in people's healthconcerns have led to an ever-expanding demand for the pharmaceutical market. On the other hand, a large amount of capital is pouring into the pharmaceutical field, prompting the emergence of new pharmaceutical enterprises, and the competition in the market is becoming increasingly heated. Against this backdrop, the replacement of pharmaceutical products has acceleratedsignificantly, with new therapeutic methods, pharmaceutical dosage forms andinnovative drugs being introduced to the market. At the …

The Charm Of Chaos: How Disordered Displays Of Cute Objects Enhance Perceived Cuteness And Boost Purchase Intention, Ting He

Dissertations and Theses Collection (Open Access)

This study investigated how the order of display influences consumer perceptions of cuteness and their purchase intention in the growing "Cute Economy" era. Contrary to conventional visual merchandising principles, we propose that disordered displays enhance the perceived cuteness of products compared to ordered displays. Through three experimental studies, we confirmed that objects in disordered displays are perceived significantly cuter than objects in ordered ones. We further identified that perceived realness as the underlying psychological mechanism plays a mediating effect; disordered display creates an impression of realness and life-like characteristics that amplify perceptions of cuteness. In addition, our field study findings …

Who’S More Likely To Do Science Philanthropy? Research On The Factors Influencing Chinese Private Entrepreneurs’ Willingness To Do Science Philanthropy, Tsz Ho Tony Lau

Dissertations and Theses Collection (Open Access)

China’s investment in scientific research funds feature relatively small amount and unitary structure of source. In recent years, the Chinese government has constantly issued policies to encourage social capital to participate in scientific research, especially fundamental research, by charitable donations or the like, but no significant results have been achieved. China's private entrepreneurs are the main force behind charitable giving. Therefore, it is imperative to engage these private entrepreneurs.

This thesis works on the characteristics of private entrepreneurs who are more likely to donate to scientific research. It can be divided into two parts/studies of research: 1) the impact of …

A Study On The Impact Of Second-Generation Involvement On Digital Transformation In Family Firms And Its Contingency Effects, Wenwu Shao

Dissertations and Theses Collection (Open Access)

Family firms, as a vital component of the global economy, dominate China's private sector. However, amid the global digital wave, they face dual challenges of generational transition and digital transformation. The involvement of second-generation successors profoundly influences strategic decision-making and digital transformation in family firms. Yet, existing research lacks a systematic theoretical framework and empirical evidence on the relationship between second-generation involvement and digital transformation in family firms, as well as its underlying mechanisms. The study thus examines the impact of second-generation involvement on digital transformation in family firms and its contingency effects.

Focusing on China's A-share listed family firms, …

Undergraduate Accounting Capstone: Enhancing Integration, Reflective Learning, And Workplace Transition For Future Professionals, Duan Ning, Magdeleine Lew, Clarence Goh, Poh Sun Seow, Gary Pan

Research Collection School Of Accountancy

This study examines whether a university capstone course focused on accounting data and analytics equips undergraduate accounting students with the relevant professional and technological skills for future work. There is concern that the traditional accounting curriculum, which often emphasizes theoretical knowledge and technical skills, may not sufficiently prepare students for the complex, data-driven environment in the workplace. Therefore, our study is important because professional and technological skills are essential skills that students need to thrive in complex, data-driven environments, and our study provides insights into whether a capstone course can equip students with these skills. To examine these issues, we …

Essays On Empirical Asset Pricing, Qi Fan

Dissertations and Theses Collection (Open Access)

My dissertation consists of three studies on how investor behavior affects the outcomes in financial markets. The first study focuses on the investors’ limited capacity on processing the complicated information transmitted through interconnected firms. The other two studies explore the investor heterogeneity on preferred time of trading, due to their personal traits or irrational judgements on the market conditions.

In Chapter 2, I focus on the return predictability across economically linked firms, due to investor limited attention. I document significant outperformance of stocks whose industry peers currently experience salient (attention-grabbing) gains, especially for those with strong social ties. The long-short …

The Impact Of Sustainable Urban Development On The Issuance Of Urban Investment Bonds, Xinglin Shou

Dissertations and Theses Collection (Open Access)

Investment, export, and consumption have been viewed as the three driving forces behind economic development in China. Among these, investment has remarkably contributed to the urbanization in the context of China's sustained growth and development. Urbanization involves the mergingof large and medium-sized cities with surrounding areas, renovation of shantytowns and aging urban neighborhoods, and transformation of rural regions into urban areas, culminating in the establishment of a unified market. Such advancements have promoted infrastructure projects that are spearheadedby local governments and aligned with urbanization, thus catalyzing the growth of China's real estate industry, stimulating the Chinese economy, andextending the urbanization-related …

Internal Control And Urban Investment Bond Issuance, Feixiong Zhu

Dissertations and Theses Collection (Open Access)

With the rapid growth of China's economy, the financing needs of local governments are increasing, and municipal investment bonds, as animportant financing tool for local governments, play a pivotal role in the capital market. However, the rapid development of the municipal investment bond market has also brought about problems such as inadequate informationdisclosure and accumulation of market risks, which has aroused widespreadconcern about potential financial risks. Against this background, the state has strengthened the regulation of municipal bonds, emphasized the importance of compliance management, and introduced a series of policies and measures toimprove the transparency and standardization of the market. …

The Impact Of Awards And Honors On Project Bidding, Ren Wang

Dissertations and Theses Collection (Open Access)

This dissertation conducts a systematic study on the successful transformation and upgrading of China's automotive industry over the past decade, especially the remarkable progress made in the field of Electric and Intelligent Vehicles, and examines how China's automotive industry chain has seized the historical opportunity of the great transformation of the global automotive industry by “Four Modernizations”—electrification, intelligentization, lightweighting and modularization along the path of "Independent Innovation", and realized the overall improvement of both corporate performance and industrial strength under the synergy of strategic investors.

China has newly become the world's largest automotive exporter and successfully built up an advantageous …