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Full-Text Articles in Business

How Can Banks Use Big Data?, Singapore Management University Aug 2014

How Can Banks Use Big Data?, Singapore Management University

Perspectives@SMU

Banks can recommend better use of money for customers, but data security is crucial


Finding Answers In Digital Media Research, Singapore Management University Aug 2014

Finding Answers In Digital Media Research, Singapore Management University

Perspectives@SMU

It is a different ball game altogether when measuring the effectiveness of an online advertisement than that of print and broadcast


Heuristic Rules In The Field: Evidence From Royalty Shares In Scientific Teams, Reddi Kotha, Dan Lovallo Aug 2014

Heuristic Rules In The Field: Evidence From Royalty Shares In Scientific Teams, Reddi Kotha, Dan Lovallo

Research Collection Lee Kong Chian School of Business

Using field data from a large U.S. technology transfer organization with over $50 million in annual revenue, we investigate four related issues regarding the sharing of licensing revenues by academic teams. First, we find that the main empirical regularity is a heuristic-based allocation of shares 1/n, equal shares to all unique inventors in a single invention team, and the use of the partition dependence (PD) rule, whereby inventors receive equal share within an invention and shares across inventions included in the same contract are equal. Second, when we examine the performance consequences of such equal sharing, we find it is …


Smu In Partnership With Tax Academy Of Singapore Launches New Centre For Excellence In Taxation, Singapore Management University Aug 2014

Smu In Partnership With Tax Academy Of Singapore Launches New Centre For Excellence In Taxation, Singapore Management University

SMU Press Releases and News

In collaboration with the Tax Academy of Singapore, and with the support of the Inland Revenue Authority of Singapore, the Singapore Management University has launched the SMU-TA Centre for Excellence in Taxation (SMU-TA CET) today. The SMU-TA CET represents a major new initiative in research addressing international and regional tax issues and taxation policies. It is the first research centre of its kind in Singapore. The aim of the Centre is to produce highly robust research in international and regional tax issues for policy-development and engagement of the international tax community.


The New Lyrics Of The Old Folks: The Role Of Family Ownership In Corporate Innovation, Po-Hsuan Hsu, Sterling Huang, Massimo Massa, Hong Zhang Aug 2014

The New Lyrics Of The Old Folks: The Role Of Family Ownership In Corporate Innovation, Po-Hsuan Hsu, Sterling Huang, Massimo Massa, Hong Zhang

Research Collection School Of Accountancy

According to conventional wisdom, family ownership, which signals a lack of social capital and trust in an economy, may impede innovation. This argument, however, fails to recognize that modern family firms can benefit from capitalist institutions that promote innovation. Using a comprehensive sample of U.S. family-owned public firms and patents for the period from 2000 to 2010, we show that family ownership promotes innovation and that this positive effect can be attributed to reduced financial constraints, a greater commitment to long-term value, and improved corporate governance. Causality is confirmed by an instrumental variable analysis using the state-level divorce rate and …


Audit Adjustments Matter: Upholding Financial Reporting Quality, Themin Suwardy, Jean Lin Seow, Chu Yeong Lim Aug 2014

Audit Adjustments Matter: Upholding Financial Reporting Quality, Themin Suwardy, Jean Lin Seow, Chu Yeong Lim

Research Collection School Of Accountancy

This study investigates the characteristics, nature and extent of proposed audit adjustments to the financial statements of companies listed in Singapore. Data were gathered from the 2013 audits of 257 listed companies in Singapore, with aggregate market capitalisation of $288.3 billion.


Economic Consequences Of Apb 14-1: Convertible Debt Accounting, Na Li Aug 2014

Economic Consequences Of Apb 14-1: Convertible Debt Accounting, Na Li

Research Collection School Of Accountancy

Using a set of hand-collected data, I study the economic consequences of APB 14-1, adopted in 2008, which requires that issuers of cash-settled convertible debt divide the total proceeds from the issuances into liability and equity components (“bifurcation”). First, I find that issuers are more likely to reduce the outstanding amount of cash-settled convertible debt when the increase (decrease) in interest expense (leverage ratio) resulting from the bifurcation process is higher (lower). The probability of early repurchase is higher when mandatory accounting changes are included in the calculation of debt covenant compliance. This finding is consistent with the debt contracting …


Examining The Effects Of Corporate Mindfulness Training, Ellen Choi, Jochen Reb Aug 2014

Examining The Effects Of Corporate Mindfulness Training, Ellen Choi, Jochen Reb

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Aging Populations And Management: From The Editors, Carol T. Kulik, Susan Ryan, Sarah Harper, Gerard George Aug 2014

Aging Populations And Management: From The Editors, Carol T. Kulik, Susan Ryan, Sarah Harper, Gerard George

Research Collection Lee Kong Chian School Of Business

The human population is aging at a rate “without parallel in the history of humanity” (United Nations, Department of Economic and Social Affairs, Population Division, 2001: xxviii). The aging of the world population is driven by two trends. First, there has been a dramatic increase in life expectancy. In the United Kingdom, for example, 10 million people are over 65 years old (roughly, 1 in 6 individuals). The latest projections are for 5½ million more elderly people in 20 years' time, and the number will have nearly doubled to around 19 million (roughly, 1 in 4 individuals) by 2050 (Cracknell, …


The Too-Much-Talent Effect: Team Interdependence Determines When More Talent Is Too Much Or Not Enough, Roderick I. Swaab, Michael Schaerer, Eric M. Anicich, Richard Ronay, Adam D. Galinsky Aug 2014

The Too-Much-Talent Effect: Team Interdependence Determines When More Talent Is Too Much Or Not Enough, Roderick I. Swaab, Michael Schaerer, Eric M. Anicich, Richard Ronay, Adam D. Galinsky

Research Collection Lee Kong Chian School Of Business

Five studies examined the relationship between talent and team performance. Two survey studies found that people believe there is a linear and nearly monotonic relationship between talent and performance: Participants expected that more talent improves performance and that this relationship never turns negative. However, building off research on status conflicts, we predicted that talent facilitates performance—but only up to a point, after which the benefits of more talent decrease and eventually become detrimental as intrateam coordination suffers. We also predicted that the level of task interdependence is a key determinant of when more talent is detrimental rather than beneficial. Three …


Have Capital Market Anomalies Attenuated In The Recent Era Of High Liquidity And Trading Activity?, Tarun Chordia, Avanidhar Subrahmanyam, Qing Tong Aug 2014

Have Capital Market Anomalies Attenuated In The Recent Era Of High Liquidity And Trading Activity?, Tarun Chordia, Avanidhar Subrahmanyam, Qing Tong

Research Collection Lee Kong Chian School Of Business

We examine whether the recent regime of increased liquidity and trading activity is associated with attenuation of prominent equity return anomalies due to increased arbitrage. We find that the majority of the anomalies have attenuated and the average returns from a portfolio strategy based on prominent anomalies have approximately halved after decimalization. We provide evidence that hedge fund assets under management, short interest and aggregate share turnover have led to the decline in anomaly-based trading strategy profits in recent years. Overall, our work indicates that policies to stimulate liquidity and ameliorate trading costs improve capital market efficiency.


A Template For Invention: Renewing & Recycling Knowledge Components, Tufool Alnuaimi, Gerard George, Simon J.D. Schillebeeckx Aug 2014

A Template For Invention: Renewing & Recycling Knowledge Components, Tufool Alnuaimi, Gerard George, Simon J.D. Schillebeeckx

Research Collection Lee Kong Chian School Of Business

We explore how old technologies can be recombined to generate new inventions. We consider four ways by which old technologies can serve as templates: subtraction, reconfiguration, addition, and replacement. Subtraction and reconfiguration do not require changing a prior combination of components, whereas for the latter two, new components are introduced. We test these ideas using patent data from the US semiconductor industry. The study’s findings suggest that re-using previous combinations results in higher impact. However, not all prior technologies are equally useful; inventions that recombine components from recently developed technologies were found to have a higher impact. We also show …


The Learning Curves In Open-Source Software (Oss) Development Network, Youngsoo Kim, Lingxiao Jiang Aug 2014

The Learning Curves In Open-Source Software (Oss) Development Network, Youngsoo Kim, Lingxiao Jiang

Research Collection School Of Computing and Information Systems

We examine the learning curves of individual software developers in Open-Source Software (OSS) Development. We collected the dataset of multi-year code change histories from the repositories for five open source software projects involving more than 100 developers. We build and estimate regression models to assess individual developers' learning progress (in reducing the likelihood they may make a bug). Our estimation results show that developer's coding experience does not decrease bug ratios while cumulative bug-fixing experience leads to learning progress. The results may have implications and provoke future research on project management about allocating resources on tasks that add new code …


Diversified Social Influence Maximization, Fangshuang Tang, Qi Liu, Hengshu Zhu, Enhong Chen, Feida Zhu Aug 2014

Diversified Social Influence Maximization, Fangshuang Tang, Qi Liu, Hengshu Zhu, Enhong Chen, Feida Zhu

Research Collection School Of Computing and Information Systems

For better viral marketing, there has been a lot of research on social influence maximization. However, the problem that who is influenced and how diverse the influenced population is, which is important in real-world marketing, has largely been neglected. To that end, in this paper, we propose to consider the magnitude of influence and the diversity of the influenced crowd simultaneously. Specifically, we formulate it as an optimization problem, i.e., diversified social influence maximization. First, we present a general framework for this problem, under which we construct a class of diversity measures to quantify the diversity of the influenced crowd. …


Dynamic Pricing In The Singapore Condominium Market, Eric Fesselmeyer, Haoming Liu Jul 2014

Dynamic Pricing In The Singapore Condominium Market, Eric Fesselmeyer, Haoming Liu

Research Collection College of Integrative Studies

Dynamic pricing strategies are likely an important consideration of Singapore condominium developers because of the durability of condominiums, price transparency, and the long sales period. While we do not observe any systematic relationship between the new sale prices and time of purchase, we do find that quality-adjusted price increases and the quality of units purchased decreases over the new sale period. These results suggest that condominium developers allow early buyers to purchase high quality units at discounted prices but do not extend the price discount to later buyers of low quality units. (C) 2014 Elsevier B.V. All rights reserved.


Conservatism And Equity Ownership Of The Founding Family, Shuping Chen, Xia Chen, Qiang Cheng Jul 2014

Conservatism And Equity Ownership Of The Founding Family, Shuping Chen, Xia Chen, Qiang Cheng

Research Collection School Of Accountancy

We investigate the impact of founding family ownership on accounting conservatism. Family ownership is characterised by large, under-diversified equity stake and long investment horizon. These features give family owners both the incentives and the ability to implement conservative financial reporting to reduce legal liability and mitigate agency conflicts with other stakeholders. Since CEOs can have different incentives towards conservatism, we focus on ownership of non-CEO founding family members in our investigation. We find that conservatism increases with non-CEO family ownership, supporting our prediction. This relationship becomes insignificant in family firms with founders serving as CEOs, either due to founder CEOs' …


Are Public-Private Partnerships A Healthy Option? A Systematic Review., Jens K. Roehrich, Michael A. Lewis, Gerard George Jul 2014

Are Public-Private Partnerships A Healthy Option? A Systematic Review., Jens K. Roehrich, Michael A. Lewis, Gerard George

Research Collection Lee Kong Chian School Of Business

Governments around the world, but especially in Europe, have increasingly used private sector involvement in developing, financing and providing public health infrastructure and service delivery through public–private partnerships (PPPs). Reasons for this uptake are manifold ranging from rising expenditures for refurbishing, maintaining and operating public assets, and increasing constraints on government budgets stifle, seeking innovation through private sector acumen and aiming for better risk management. Although PPPs have attracted practitioner and academic interest over the last two decades, there has been no attempt to integrate the general and health management literature to provide a holistic view of PPPs in healthcare …


Should Singapore Adopt 'Say On Pay'?, Clarence Goh Jul 2014

Should Singapore Adopt 'Say On Pay'?, Clarence Goh

Research Collection School Of Accountancy

SoP may require disclosures that could harm a firm's competitive interests.


Should Singapore Adopt 'Say On Pay'?, Clarence Goh Jul 2014

Should Singapore Adopt 'Say On Pay'?, Clarence Goh

Research Collection School Of Accountancy

SoP may require disclosures that could harm a firm's competitive interests.


Chain Liability In Multitier Supply Chains? Responsibility Attributions For Unsustainable Supplier Behavior, Julia Hartmann, Sabine Benoit Jul 2014

Chain Liability In Multitier Supply Chains? Responsibility Attributions For Unsustainable Supplier Behavior, Julia Hartmann, Sabine Benoit

Research Collection Lee Kong Chian School Of Business

When it becomes publicly known that products are associated with suppliers that engage in unsustainable behaviors, consumers protest, as Nestlé, Zara, and Kimberly Clark, among others, have learned. The phenomenon by which consumers hold firms responsible for the unsustainable behavior of their upstream partners suggests the notion of “chain liability.” This study aims to generate insights into the antecedents and consequences of such consumer responsibility attributions. Using data from four vignette-based survey experiments, the authors find that the chain liability effect increases if an environmental degradation incident (1) results from supplier behavior rather than force majeure, (2) results from a …


Dissecting The Asset Growth Anomaly, Fangjian Fu Jul 2014

Dissecting The Asset Growth Anomaly, Fangjian Fu

Research Collection Lee Kong Chian School Of Business

Studies have shown that firm asset growth predicts cross-sectional stock returns. Firms that shrink their assets earn superior returns while firms that substantially expand their assets incur poor returns in the following years. I show that the negative asset growth often implies poor operating performance and a high probability subsequently to be delisted from the exchanges and that the high asset growth is primarily fuelled by large external financing. The seemingly superior returns of the negative asset growth portfolios are due to the omission of delisting returns. The poor returns of the high asset growth portfolios coincide with the widely-documented …


Duopolistic Competition Under Risk Aversion And Uncertainty, Michail Chronopoulos, Bert De Reyck, Afzal Siddiqui Jul 2014

Duopolistic Competition Under Risk Aversion And Uncertainty, Michail Chronopoulos, Bert De Reyck, Afzal Siddiqui

Research Collection Lee Kong Chian School Of Business

A monopolist typically defers entry into an industry as both price uncertainty and the level of risk aversion increase. By contrast, the presence of a rival typically hastens entry under risk neutrality. Here, we examine these two opposing effects in a duopoly setting. We demonstrate that the value of a firm and its entry decision behave differently with risk aversion and uncertainty depending on the type of competition. Interestingly, if the leader’s role is defined endogenously, then higher uncertainty makes her relatively better off, whereas with the roles exogenously defined, the impact of uncertainty is ambiguous.


Leverage Strategies Of Asian Reits And Real Estate Operating Companies, Kian Guan Lim, Tien Foo Sing Jul 2014

Leverage Strategies Of Asian Reits And Real Estate Operating Companies, Kian Guan Lim, Tien Foo Sing

Research Collection Lee Kong Chian School Of Business

The real estate literature has been puzzled by the story of why a tax-exempt vehicle like REITs uses more debt than equity. We used empirical evidence on REITs and real estate operating companies (REOCs) in Japan, Singapore, and Hong Kong from 2006 to 2010 and verified that REITs did use more debt than REOCs, despite borrowing constraints imposed on REITs in Hong Kong and Singapore. REITs also used more short-term debt to finance their real estate investment activities, but their total debt level declined during the crisis periods in 2007 and 2008. We found that higher long-term debt reduced the …


The Dynamic Relationships Of Work Affect And Job Satisfaction With Perceptions Of Fit, Allison S. Gabriel, James M. Diefendorff, Megan M. Chandler, Christina M. Moran, Gary J. Greguras Jul 2014

The Dynamic Relationships Of Work Affect And Job Satisfaction With Perceptions Of Fit, Allison S. Gabriel, James M. Diefendorff, Megan M. Chandler, Christina M. Moran, Gary J. Greguras

Research Collection Lee Kong Chian School Of Business

This study assessed the longitudinal relationship between perceived fit (i.e., person–organization fit, person–job fit) and affect-based variables (i.e., job satisfaction, negative affect, positive affect) using momentary (i.e., within-person level) and stable (i.e., between-person level) assessments of both sets of variables. In doing so, we tested 3 theoretical models of the perceived fit and work affect relationship (i.e., fit preceding affect; affect preceding fit; reciprocal fit–affect relations) to determine (a) the antecedents and consequences of fit perceptions, (b) whether fit perceptions exhibit meaningful within-person variability, and (c) if direct fit perceptions are simply the result of affect/job satisfaction at work or …


Impact Of Component Supplier Branding On Profitability, Stefan Worm, Rajendra K. Srivastava Jul 2014

Impact Of Component Supplier Branding On Profitability, Stefan Worm, Rajendra K. Srivastava

Research Collection Lee Kong Chian School Of Business

In recent years, many business-to-business (B2B) component supplier (CS) firms have added branding to their marketing toolbox. By extending the logic of ingredient branding to B2B components, they aim to create “pull” from B2B end customers by building a strong CS brand image among their customers' customers. In contrast with the established “push” approach of building strong relationships with original equipment manufacturers (OEMs), it is unclear whether and under which conditions CS branding is a worthy strategy. On the one hand, anecdotal evidence suggests that suppliers can leverage strong CS brand image in negotiations with increasingly powerful OEMs to enhance …


Creating A Value-Centered Culture To Drive High Performance, Robert Bergstrom, Tiffany Brown Devaughn, Elliot Brook, Lukas Tande, Richard Raymond Smith Jul 2014

Creating A Value-Centered Culture To Drive High Performance, Robert Bergstrom, Tiffany Brown Devaughn, Elliot Brook, Lukas Tande, Richard Raymond Smith

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Managerial Expertise, Corporate Decisions, And Firm Value: Evidence From Corporate Refocusing, Sheng Huang Jul 2014

Managerial Expertise, Corporate Decisions, And Firm Value: Evidence From Corporate Refocusing, Sheng Huang

Research Collection Lee Kong Chian School Of Business

This paper investigates how managerial expertise—specifically, industry expertise—affects firm value through divestiture. Using CEOs’ managerial experiences in industries throughout their careers as a measure of their industry expertise, I find that CEOs in diversified conglomerates are more likely to divest divisions in industries in which they have less experience. This finding is consistent with CEOs who divest such divisions in order to refocus on those divisions in which they have specialized—that is, to achieve a better match between their expertise and their firms’ retained assets. Firms that divest for a better CEO-firm match experience significant improvements in operating performance, as …


Singapore's Financial Market: Challenges And Future Prospects, David K. C. Lee, Kok Fai Phoon Jul 2014

Singapore's Financial Market: Challenges And Future Prospects, David K. C. Lee, Kok Fai Phoon

Research Collection Lee Kong Chian School Of Business

Singapore has successfully developed into one of the leading international financial centers in a short span of less than half a century. The factors of success can be attributed to time, space, and people. Given the complexity and connectivity of today’s markets, there are many challenges in a fast changing environment marked by huge global capital flows and punctuated by crisis after crisis. This chapter will explain the success of Singapore’s financial market and provide the author’s outlook for the island state’s future prospects in the aftermath of the US debt crisis, the Euro crisis, and likely slowdown in emerging …


Impact Of Social Media On Power Relations Of Korean Health Activism, Kyu Jin Shim Jul 2014

Impact Of Social Media On Power Relations Of Korean Health Activism, Kyu Jin Shim

Research Collection Lee Kong Chian School Of Business

This case study explores how the Korea Leukemia Patient Group (KLPG) uses social media in its internal communication strategy and how that empowers its relationship with external counterparts. The findings of this study indicate that the local health NGO’s communication strategy is changing in response to the increased effectiveness and impact of social media. With the use of social media like Twitter, the KLPG can construct an issue-based advocacy group quickly and effectively. Consequently, more legitimacy and representativeness through collected support from general publics has further empowered the KLPG. Yet, the sustainability component in the relationships built through social media …


Firm As A Coordination System: Evidence From Offshore Software Services, Kannan Srikanth, Phanish Puranam Jul 2014

Firm As A Coordination System: Evidence From Offshore Software Services, Kannan Srikanth, Phanish Puranam

Research Collection Lee Kong Chian School Of Business

To examine what, if any, are the differences in how activities are coordinated within versus between firms, we conducted interviews with 32 project managers regarding 60 projects in the offshore software services industry. Uniquely, our projects were sampled along two dimensions: (1) colocation versus spatial distribution and (2) delivery by groups of individuals from a single firm versus from multiple firms. Our evidence suggests that in colocated projects, the same broad categories of coordination mechanisms are used both within and between firms. However, there is a qualitative difference in how geographically (i.e., spatially) distributed projects are coordinated within versus between …