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Full-Text Articles in Business

Who Shall Get More? How Intangible Resources And Aspiration Levels Affect The Valuation Of Resource Providers, Gokhan Ertug, Fabrizio Castellucci Feb 2015

Who Shall Get More? How Intangible Resources And Aspiration Levels Affect The Valuation Of Resource Providers, Gokhan Ertug, Fabrizio Castellucci

Research Collection Lee Kong Chian School Of Business

In this study, we identify the effects of reputation and status by determining how they are differently valued by organizations that are concurrently pursuing different goals. Building on research on intangible assets and on aspiration levels, we develop a framework to explain organizations’ valuation of resource providers. We expect organizations to value resource providers who possess a specific type of intangible asset higher as their performance, relative to aspirations, decreases on the outcome more closely tied to that particular asset. We also expect to observe this sensitivity primarily when the organization has a low level of the intangible asset in …

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An Anatomy Of State Control In The Globalization Of State-Owned Enterprises, Hao Liang, Bing Ren, Sunny Li Sun Feb 2015

An Anatomy Of State Control In The Globalization Of State-Owned Enterprises, Hao Liang, Bing Ren, Sunny Li Sun

Research Collection Lee Kong Chian School Of Business

Integrating agency theory with institutional analysis in international business, we propose a state-control perspective to analyze government-control mechanisms in emerging economies’ globalization of state-owned enterprises (SOEs). We identify two types of state control that influence SOEs’ globalization decisions and the degree of globalization: state ownership control and executives’ political connections, both of which are contingent upon the home country’s evolving institutional environments. Using a two-step corporate globalization decision model and 17,272 firm-year observations of non-financial, Chinese-listed companies, we find a strong impact of both types of state control on SOEs’ globalization, although the impacts differ between the periods before and …

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Momentum Life Cycle Around The World, Frank Weikai Li, K. C. John Wei Feb 2015

Momentum Life Cycle Around The World, Frank Weikai Li, K. C. John Wei

Research Collection Lee Kong Chian School Of Business

The momentum life cycle (MLC) hypothesis first proposed by Lee and Swaminathan (2000) applies also to global markets. Early-stage strategies significantly outperform the late-stage and conventional strategies in most countries. Individualism culture is positively associated with late-stage but unrelated to early-stage momentum profitability, suggesting that early- and late-stage momentums are driven by different underlying mechanisms. Consistent with Stein’s (2009) model that arbitrageurs could amplify mispricing, we find that late-stage momentum profits are more pronounced in countries with lower limits to arbitrage. Furthermore, we find that the MLC also applies to exchange traded funds in the United States.

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A Career Stage Perspective On Employees' Preferred Psychological Contract Contributions And Inducements, Chin Heng Low, Prashant Bordia Feb 2015

A Career Stage Perspective On Employees' Preferred Psychological Contract Contributions And Inducements, Chin Heng Low, Prashant Bordia

Research Collection Lee Kong Chian School Of Business

The employer–employee relationship is underpinned by a psychological contract, referring to employees’ beliefs about the exchange of employee contributions and employer inducements. While there is limited understanding of how employers can shape psychological contracts to meet employees’ needs and aspirations, meeting these needs requires understanding employees’ preferences for psychological contract contributions and inducements. The authors propose that career stage models can be used to achieve such understanding. Using the career stage models of Dalton, Thompson, and Price (1977) and Super (1957), insights are derived into the preferred contributions and inducements at various points in an employee’s career lifecycle. These insights …

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Parody Social Media Accounts: Influence And Impact On Organizations During Crisis, Sarah Wan, Regina Koh, Andrew Ong, Augustine Pang Jan 2015

Parody Social Media Accounts: Influence And Impact On Organizations During Crisis, Sarah Wan, Regina Koh, Andrew Ong, Augustine Pang

Research Collection Lee Kong Chian School Of Business

With the uptake of the use of social media, the communication field has seen a rise in a new phenomenon: parody social media accounts. Through study of five such accounts, this paper shows how parody social media accounts can arise from a crisis or paracrisis, which is “a publicly visible crisis threat” that is triggered online (Coombs & Holladay, 2012, p. 409). The study also examines the behavior of these accounts and how they enforce negative perceptions and impede an organization's efforts and initiatives. Using the social-mediated crisis communication model as its theoretical lens, this study seeks to examine parody …

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Building Relationships Through Integrated Online Media Platforms: Analysis Of Top 100 Global Brands, Wonsun Shin, Augustine Pang, Hyo Jung Kim Jan 2015

Building Relationships Through Integrated Online Media Platforms: Analysis Of Top 100 Global Brands, Wonsun Shin, Augustine Pang, Hyo Jung Kim

Research Collection Lee Kong Chian School Of Business

Many studies have examined organizations’ use of specific types of online media, but few studies have examined how organizations generate dialogues and develop relationships by using multiple online communication platforms. This study takes an integrated approach by examining how top global organizations incorporate brand Web sites, Facebook, and Twitter to cultivate relationships with stakeholders. Its findings suggest that those particular online media are used similarly, that is, more for information dissemination than user engagement and more for one-way than two-way communication. The findings also suggest that the types of products promoted can affect the way that organizations use different online …

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Singapore Budget 2015: Building Our Future, Strengthening Social Security, Clarence Goh, Felix Wong Jan 2015

Singapore Budget 2015: Building Our Future, Strengthening Social Security, Clarence Goh, Felix Wong

Research Collection School of Accountancy

Our Budget for FY2014 is expected to record a slightly smallerdeficit than what we had estimated a year ago. We had budgetedfor an overall deficit of $1.2 billion (or 0.3% of GDP). We nowexpect a very small deficit of $0.1 billion, close to a balancedposition.

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Should Event Organisers Prevent Resale Of Tickets?, Singapore Management University Jan 2015

Should Event Organisers Prevent Resale Of Tickets?, Singapore Management University

Perspectives@SMU

Letting scalpers into the action can help event organisers boost revenue, but a ticket option – like a stock option – is the best win-win solution

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Financialisation Of Commodity Markets: Boon Or Bane?, Singapore Management University Jan 2015

Financialisation Of Commodity Markets: Boon Or Bane?, Singapore Management University

Perspectives@SMU

An influx of investment money into commodity futures can distort the broader economic picture, but it can also help commodity producers hedge price risks

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Innovation And The Social Entrepreneur, Singapore Management University Jan 2015

Innovation And The Social Entrepreneur, Singapore Management University

Perspectives@SMU

Starting small and a willingness to learn are perhaps the most important things for a social entrepreneur

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The Power Of Technology In Cre Data And Analytics, Clarence Goh Jan 2015

The Power Of Technology In Cre Data And Analytics, Clarence Goh

Research Collection School of Accountancy

Many companies are using data to drive competitiveadvantage. Across industries, there is rapidly growingappreciation that data-driven insights can substantiallyimprove decision making across a wide range of businessfunctions, and corporate real estate (CRE) is no exception.

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Isca Pre-Budget Survey 2015, Clarence Goh Jan 2015

Isca Pre-Budget Survey 2015, Clarence Goh

Research Collection School of Accountancy

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body ofSingapore. ISCA’s vision is to be a globally recognised professional accountancy body, bringing valueto our members, the profession and wider community.

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Creating Inclusive Workplaces In Singapore: A Corporate Guide For Companies And Hr Practitioners, Benjamin Tien Yong Wong, Muhammad Hafiz Kasman, Tye Wei Lee Jan 2015

Creating Inclusive Workplaces In Singapore: A Corporate Guide For Companies And Hr Practitioners, Benjamin Tien Yong Wong, Muhammad Hafiz Kasman, Tye Wei Lee

Student Publications

We are a team of students from the Singapore Management University (SMU). Our team recognises that LGBT (Lesbian, Gay, Bisexual and Transgender) individuals – as with all employees – are valuable members of many organisations that operate in Singapore. We therefore believe that companies can harness the potential of stronger teams by creating diverse and inclusive workplaces for its LGBT and LGBT-affirming members. While we acknowledge that diversity and inclusion ought to proactively encompass a spectrum of strands such as gender, race and socio-economic backgrounds, management literature concerning LGBT issues in Singapore remain relatively unchartered – a gap that this …

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Foreign Tax Credit Pooling System: Is It Always Better? (Part 1 Of 3), Teng Aun Khoo, Clement Kai Guan Tan Jan 2015

Foreign Tax Credit Pooling System: Is It Always Better? (Part 1 Of 3), Teng Aun Khoo, Clement Kai Guan Tan

Research Collection School Of Accountancy

Presently, there are two systems under which the FTC can be granted subject to satisfying certain conditions 1. FTC source-by-source and country-by-country system (SCS), and 2. FTC pooling system (PS) Under the SCS of computing the FTC, the excess of FTP over the STP on one type of FI (say dividend income) from a foreign country cannot be used to setoff against the excess of STP over the FTP on any other FI. Under the PS, any excess of Foreign Tax Paid (FTP) over the Singapore Tax Payable (STP) on one type of Foreign Income from a foreign country can …

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Active Cds Trading And Managers’ Voluntary Disclosure, Jae Bum Kim, Pervin K. Shroff, Dushyantk Umar Vyas, Regina Wittenberg Moerman Jan 2015

Active Cds Trading And Managers’ Voluntary Disclosure, Jae Bum Kim, Pervin K. Shroff, Dushyantk Umar Vyas, Regina Wittenberg Moerman

Research Collection School Of Accountancy

No abstract provided.

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Semi-Universal Portfolios With Transaction Costs, Dingjiang Huang, Yan Zhu, Bin Li, Shuigeng Zhou, Steven C. H. Hoi Jan 2015

Semi-Universal Portfolios With Transaction Costs, Dingjiang Huang, Yan Zhu, Bin Li, Shuigeng Zhou, Steven C. H. Hoi

Research Collection School Of Computing and Information Systems

Online portfolio selection (PS) has been extensively studied in artificial intelligence and machine learning communities in recent years. An important practical issue of online PS is transaction cost, which is unavoidable and nontrivial in real financial trading markets. Most existing strategies, such as universal portfolio (UP) based strategies, often rebalance their target portfolio vectors at every investment period, and thus the total transaction cost increases rapidly and the final cumulative wealth degrades severely. To overcome the limitation, in this paper we investigate new investment strategies that rebalances its portfolio only at some selected instants. Specifically, we design a novel on-line …

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Special Section: Economics, Electronic Commerce, And Competitive Strategy, Eric K. Clemons, Rajiv M. Dewan, Robert John Kauffman Jan 2015

Special Section: Economics, Electronic Commerce, And Competitive Strategy, Eric K. Clemons, Rajiv M. Dewan, Robert John Kauffman

Research Collection School Of Computing and Information Systems

The title of this year;s special section of selected papers, whose initial versionswere presented at the “Economics and Electronic Commerce,” and “Information Technologyand Competitive Strategy” mini-tracks of the 2001 Hawaii International Conferenceon Systems Science (HICSS), reflects the increasing convergence of ideas fromEconomics and Information Systems (IS) research. This convergence has been occurringover the last several years and is related to the developments in e-commerce. ISresearch has been rapidly coming of age, driven by the ever-increasing importance ofinformation technology (IT) in the marketplace, and the need for managers, investors,policy-makers, and the public to understand how to more effectively navigate in ourhighly …

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Mechanism Design For Near Real-Time Retail Payment And Settlement Systems, Zhiling Guo, Robert John Kauffman, Mei Lin, Dan Ma Jan 2015

Mechanism Design For Near Real-Time Retail Payment And Settlement Systems, Zhiling Guo, Robert John Kauffman, Mei Lin, Dan Ma

Research Collection School Of Computing and Information Systems

have made extensive use of interbank netting systems, in which payments are accumulated for end-of-day settlement. This approach, known as deferred net settlement (DNS), reduces the liquidity needs of a payment system, but bears inherent operational risks. As large dollar volumes of retail payments accumulate swiftly, real-time gross settlement (RTGS) is an attractive option. It permits immediate settlement of transactions during the day, but it brings up other risks that require consideration. We propose a hybrid payment management system involving elements of both DNS and RTGS. We explore several hybrid system mechanism designs to allow payment prioritization, reduce payment delays, …

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Reputationpro: The Efficient Approaches To Contextual Transaction Trust Computation In E-Commerce Environments, Haibin Zhang, Yan Wang, Xiuzhen Zhang, Ee Peng Lim Jan 2015

Reputationpro: The Efficient Approaches To Contextual Transaction Trust Computation In E-Commerce Environments, Haibin Zhang, Yan Wang, Xiuzhen Zhang, Ee Peng Lim

Research Collection School Of Computing and Information Systems

In e-commerce environments, the trustworthiness of a seller is utterly important to potential buyers, especially when a seller is not known to them. Most existing trust evaluation models compute a single value to reflect the general trustworthiness of a seller without taking any transaction context information into account. With such a result as the indication of reputation, a buyer may be easily deceived by a malicious seller in a transaction where the notorious value imbalance problem is involved—in other words, a malicious seller accumulates a high-level reputation by selling cheap products and then deceives buyers by inducing them to purchase …

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Recovering Household Preferences For Digital Entertainment, Jin Li, Zhiling Guo, Robert J. Kauffman Jan 2015

Recovering Household Preferences For Digital Entertainment, Jin Li, Zhiling Guo, Robert J. Kauffman

Research Collection School Of Computing and Information Systems

Cable TV return path data made possible by current generation set-top boxes present a new opportunity to analyze household viewing behavior and recover household viewing preferences from it. This research develops a model of household viewing preference that supports quantifying a household's valuation for different categories of digital content within the constraints of the programs to which it subscribes. This study uses a data set of more than 1 million observations on households from a digital entertainment firm that offers basic and premium services. Our estimation is via a Bayesian hierarchical model that employs the Gibbs sampler. The results show …

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Improving Internet Security Through Mandatory Information Disclosure, Qian Tang, Andrew B. Whinston Jan 2015

Improving Internet Security Through Mandatory Information Disclosure, Qian Tang, Andrew B. Whinston

Research Collection School Of Computing and Information Systems

Although disclosure has long been considered as a solution to internalize externalities, mandatory security information disclosure is still in debate. We propose a mandatory disclosure mechanism based on existing data. The information is disclosed as straightforward rankings of organizations for users to understand, interpret, and make comparisons. As a result, the disclosure can influence organizations through reputational effects. We created a public website to disclose information regularly and conducted a quasi-experiment on outgoing spam to test the effectiveness of our mechanism on four matched country groups. For each treated country, we released the ranking list of top 10 most spamming …

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How Are We Doing After 30 Years? A Meta-Analytic Review Of The Antecedents And Outcomes Of Feedback-Seeking Behavior, Frederik Anseel, Adam S. Beatty, Winny Shen, Filip Lievens, Paul R. Sackett Jan 2015

How Are We Doing After 30 Years? A Meta-Analytic Review Of The Antecedents And Outcomes Of Feedback-Seeking Behavior, Frederik Anseel, Adam S. Beatty, Winny Shen, Filip Lievens, Paul R. Sackett

Research Collection Lee Kong Chian School Of Business

This study provides meta-analytic estimates of the antecedents and consequences of feedback-seeking behavior (FSB). Clear support was found for the guiding cost/benefit framework in the feedback-seeking domain. Organizational tenure, job tenure, and age were negatively related to FSB. Learning and performance goal orientation, external feedback propensity, frequent positive feedback, high self-esteem, a transformational leadership style, and a high-quality relationship were positively associated with FSB. Challenging some of the dominant views in the feedback-seeking domain, the relationship between uncertainty and FSB was negative and the relationship between FSB and performance was small. Finally, inquiry and monitoring are not interchangeable feedback-seeking tactics. …

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Alternative Investment Markets Under Criticism: Reasons To Be Worried? Lessons From Gowex, Aurelio Gurrea-Martinez Jan 2015

Alternative Investment Markets Under Criticism: Reasons To Be Worried? Lessons From Gowex, Aurelio Gurrea-Martinez

Research Collection Yong Pung How School Of Law

The recent financial scandal of Gowex in the Spanish Alternative Investment Market (MAB) has reopened the debate about the dangers of lightly regulated markets and their optimal level of regulation. This article argues that Gowex’s collapse was not a failure of these markets but a failure of the gatekeepers in charge of overseeing Gowex’s activities. Therefore, we propose that regulators should focus on providing mechanisms to encourage gatekeepers to do their work in an effective and credible way. Namely, we propose that regulators should enhance the role and effectiveness of Nominated Advisers, since these players have been created precisely for …

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Patents, Innovation, And Performance Of Venture Capital-Backed Ipos, Jerry X. Cao, Fuwei Jiang, Jay R Ritter Jan 2015

Patents, Innovation, And Performance Of Venture Capital-Backed Ipos, Jerry X. Cao, Fuwei Jiang, Jay R Ritter

Research Collection Lee Kong Chian School Of Business

We study the predictive power of patents on the long-run performance of venture capital (VC)-backed initial public offerings (IPOs). We show that VC-backed IPOs that have at least one patent at the time of the IPO substantially outperform other VC-backed IPOs, with 3-year buy-and-hold market-adjusted returns of -7.1% vs. -23.3%. On average, VC-backed IPOs without patents perform similarly to non-VC-backed IPOs. We also report that VC-backed IPOs from 1981-1998 outperformed other IPOs, but the pattern has reversed for IPOs from 1999-2006. Although a smaller proportion of non-VC-backed IPOs possess patents, those with patents also outperform those without patents.

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Diversity In Medical School Admission: Insights From Personnel Recruitment And Selection, Filip Lievens Jan 2015

Diversity In Medical School Admission: Insights From Personnel Recruitment And Selection, Filip Lievens

Research Collection Lee Kong Chian School Of Business

This issue of Medical Education includes four papers that focus upon recruitment and selection. My personal involvement with this field has occurred through my research on situational judgement tests (SJTs), most of which has been conducted in the broader field of personnel recruitment and selection for the workforce. As such, I read the four studies with two questions in mind: (i) on what issues have the respective strands of recruitment and selection diversity research in the medical education and workforce domains converged? (ii) What new insights emerging from workforce diversity can inform medical education research?

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Establishing Hr Professionals' Influence And Credibility: Lessons From The Capital Markets And Investment Banking Sector, Paul Aldrich, Graham Dietz, Timothy Adrian Robert Clark, P.Eter Hamilton Jan 2015

Establishing Hr Professionals' Influence And Credibility: Lessons From The Capital Markets And Investment Banking Sector, Paul Aldrich, Graham Dietz, Timothy Adrian Robert Clark, P.Eter Hamilton

Research Collection Lee Kong Chian School Of Business

Through two separate studies involving 47 interviews inside 22 institutions in the capital markets and investment banking sector, we explore the levels of influence and sources of credibility for senior HR professionals, and examine the challenges they face in establishing credibility. We compare these findings against previous research, which has identified several determinants of HR's influence and credibility. Our findings confirm that HR's modest influence is contingent on the predispositions and convictions of key stakeholders, notably the CEO, but also depends on the decision being taken. We find that the basis for senior HR professionals' credibility is more individual than …

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How Product Attributes Influence Internationalization: A Framework Of Domain- And Culture-Specificity, Terence P. C. Fan, Alex Tai Loong Tan Jan 2015

How Product Attributes Influence Internationalization: A Framework Of Domain- And Culture-Specificity, Terence P. C. Fan, Alex Tai Loong Tan

Research Collection Lee Kong Chian School Of Business

This paper introduces two important dimensions of product attributes in the context of internationalization: domain- and culture-specificity. Products can be high or low in domain- or culture-specificity, thereby being one of four broad categories in a two-by-two matrix. This framework of product attributes helps explain a series of gradations on how cultural difference influences the difficulty of selling a product internationally. By examining four cases, one from each of these categories, this paper shows that different product attributes affect the difficulty or ease with which the products of these firms were internationalized. While all four cases were able to derive …

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Tunneling Through Non-Operational Fund Occupancy: An Investigation Based On Officially Identified Activities, Guohua Jiang, Pingui Rao, Heng Yue Jan 2015

Tunneling Through Non-Operational Fund Occupancy: An Investigation Based On Officially Identified Activities, Guohua Jiang, Pingui Rao, Heng Yue

Research Collection School Of Accountancy

In this paper, we investigate the problem of controlling shareholder Non-Operational Fund Occupancy (NOFO) in China, where controlling shareholders directly take funds away from listed firms without matching business transactions. The NOFO problem was an evident and widely used tunneling activity in China and was identified by the securities market regulators. Unlike previous literature that used indirect measures of tunneling, we directly collect the actual amounts of NOFO from mandated disclosures and utilize this direct measure of tunneling in a series of empirical tests. First, we examine and find that various mechanisms such as ownership structure, corporate governance and institutional …

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Continuing Professional Development In The Accounting Profession: Practices And Perceptions From The Asia Pacific Region, Paul De Lange, Beverley Jackling, Themin Suwardy Jan 2015

Continuing Professional Development In The Accounting Profession: Practices And Perceptions From The Asia Pacific Region, Paul De Lange, Beverley Jackling, Themin Suwardy

Research Collection School Of Accountancy

Drawing on research in the sociology of professions as a reference point, this study examines the practices and perceptions of professional accountants towards the requirements of IES7 on continuing professional development (CPD). Responses from 1310 accountants in the Asia Pacific region suggest while increasing globalisation has led to more unified standards of professionalism, the perceptions of these standards are not uniform across the region. While there is some consensus that the ongoing development of accounting as part of globalisation, significant differences were identified in perceptions towards CPD offerings between professional accountants in developed economies, compared with emerging economies. Differences in …

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Short Selling Pressure, Stock Price Behavior, And Management Forecast Precision: Evidence From A Natural Experiment, Yinghua Li, Liandong Zhang Jan 2015

Short Selling Pressure, Stock Price Behavior, And Management Forecast Precision: Evidence From A Natural Experiment, Yinghua Li, Liandong Zhang

Research Collection School Of Accountancy

Using a natural experiment (Regulation SHO), we show that short selling pressure and consequent stock price behavior have a causal effect on managers' voluntary disclosure choices. Specifically, we find that managers respond to a positive exogenous shock to short selling pressure and price sensitivity to bad news by reducing the precision of bad news forecasts. This finding on management forecasts appears to be generalizable to other corporate disclosures. In particular, we find that, in response to increased short selling pressure, managers also reduce the readability (or increase the fuzziness) of bad news annual reports. Overall, our results suggest that maintaining …

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