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Singapore Management University

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Articles 4051 - 4080 of 6939

Full-Text Articles in Business

Cost Growth And Stock Returns, Dashan Huang, Fuwei Jiang, Jun Tu, Guofu Zhou Jun 2014

Cost Growth And Stock Returns, Dashan Huang, Fuwei Jiang, Jun Tu, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

In this paper, we examine the valuation implications of cost behavior, and find that firms with high growth rate in operating costs generate substantially lower future stock returns than those with low cost growth. A spread portfolio of long stocks with low cost growth and short stocks with high cost growth earns an average abnormal return of 12% per year. This strategy is robust over time, across market capitalization, and to control for alternative anomalies and risks. Cost growth is strongly associated with deterioration in a firm’s future profitability, which investors appear failing to incorporate into valuation. In addition, the …

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The Art Of Negotiation, Singapore Management University May 2014

The Art Of Negotiation, Singapore Management University

Perspectives@SMU

Be clear about your objectives before sitting down to make a deal

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Buy? Sell? Or Hold?, Singapore Management University May 2014

Buy? Sell? Or Hold?, Singapore Management University

Perspectives@SMU

Equity research is more valuable when times are bad

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Crowdsourcing For Success, Singapore Management University May 2014

Crowdsourcing For Success, Singapore Management University

Perspectives@SMU

Fluentlee.com’s co-founder achieved 90 percent savings through crowdsourcing

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Handling Location Uncertainty In Event Driven Experimentation, Kartik Muralidharan, Srinivasan Seshan, Narayan Ramasubbu, Rajesh Krishna Balan May 2014

Handling Location Uncertainty In Event Driven Experimentation, Kartik Muralidharan, Srinivasan Seshan, Narayan Ramasubbu, Rajesh Krishna Balan

Research Collection School Of Computing and Information Systems

The wide spread use of smart phones has ushered in a wave of context-based advertising services that operate on pre-defined user events. A prime example is Location Based Advertising. What is missing though, is the ability to experiment with these services under varying event conditions with real users using their regular phones in real-world environments. Such experiments provide greater insight into user needs for and responsiveness towards context-based advertising applications. However, these event-driven experiments rely on data that arrive from sources such as mobile sensors which have inherent uncertainties associated with them. This effects the interpretation of the outcome of …

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Manager's Toolbox: Ethics And Values, Ratan Tata, Philip C. Zerrillo May 2014

Manager's Toolbox: Ethics And Values, Ratan Tata, Philip C. Zerrillo

Asian Management Insights

Ratan Tata zeros in on ethics and values as part of the science of management, and India's current economic journey, in this interview with Philip Zerrillo.

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Surviving Beyond A Third Generation, Andreas Raharso May 2014

Surviving Beyond A Third Generation, Andreas Raharso

Asian Management Insights

Family-owned businesses’ continued survival is unsure. Research indicates the most likely cause is their pursuit of professionalisation.

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The Customer Insight Journey Of Amazing Grace, Pradeep Pant May 2014

The Customer Insight Journey Of Amazing Grace, Pradeep Pant

Asian Management Insights

How do you put consumercentric marketing into action? Make it personal!

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Sourcing Hub, Anupam Agrawal, Luk N. Van Wassenhove, Arnoud De Meyer May 2014

Sourcing Hub, Anupam Agrawal, Luk N. Van Wassenhove, Arnoud De Meyer

Asian Management Insights

Managing the suppliers of your suppliers may be a lot of work, but there is plenty of value in unlocking the supply chain.

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Managing Innovation Risk, Madhabi Puri Buch May 2014

Managing Innovation Risk, Madhabi Puri Buch

Asian Management Insights

Risk in banks is nearly always considered a dirty word. Yet a handful of simple ideas can help manage innovation risk effectively.

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Influence Of National Culture On Accounting Conservatism And Risk-Taking In The Banking Industry, Kanagaretn Kiridaran, Chee Yeow Lim, Gerald J. Lobo May 2014

Influence Of National Culture On Accounting Conservatism And Risk-Taking In The Banking Industry, Kanagaretn Kiridaran, Chee Yeow Lim, Gerald J. Lobo

Research Collection School Of Accountancy

Using an international sample of banks and country-level indices for individualism and uncertainty avoidance as proxies for national culture, we study how differences in culture across countries affect accounting conservatism and bank risk-taking. Consistent with expectations, our cross-country analysis indicates that individualism is negatively (positively) related to conservatism (risk-taking) and uncertainty avoidance is positively (negatively) related to conservatism (risk-taking). We also find that cultures that encourage higher risk-taking experienced more bank failures and bank troubles during the recent financial crisis.

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2nd Isca Productivity Scorecard And Benchmarking Survey Report For The Accountancy Sector In Singapore, Sze Yee Chan, Clarence Goh, Kay Zin May 2014

2nd Isca Productivity Scorecard And Benchmarking Survey Report For The Accountancy Sector In Singapore, Sze Yee Chan, Clarence Goh, Kay Zin

Research Collection School Of Accountancy

As the national accountancy body, the Institute of Singapore Chartered Accountants (ISCA) is pleased to publish this secondProductivity Scorecard and Benchmarking Survey Report. This builds upon our inaugural scorecard and benchmarking reportlast year and, more importantly, is in line with our efforts to play a role in the national drive to restructure our economy byraising the productivity of companies in Singapore and helping them move up the value chain.

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Is Sin Always A Sin? The Interaction Effect Of Social Norms And Financial Incentives On Market Participants’ Behavior, Yanju Liu, Hai Lu, Kevin Veenstra May 2014

Is Sin Always A Sin? The Interaction Effect Of Social Norms And Financial Incentives On Market Participants’ Behavior, Yanju Liu, Hai Lu, Kevin Veenstra

Research Collection School Of Accountancy

Using alcohol, tobacco, and gaming consumption data and people’s attitudes toward these sin products to proxy for social norm acceptance levels, we show a strong interaction effect between social norms and financial incentives, which significantly influence the behavior of market participants. Specifically, institutional investors’ shareholdings and analyst coverage of sin companies increase with the degree of social norm acceptance. The association between shareholdings/coverage and social norm acceptance is less pronounced for firms with higher future expected performance. Our results show that social norms and financial incentives have a powerful interaction effect in determining the behavior of market participants, suggesting that …

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Conceptualizing And Assessing Interpersonal Adaptability: Towards A Functional Framework, Tom Oliver, Filip Lievens May 2014

Conceptualizing And Assessing Interpersonal Adaptability: Towards A Functional Framework, Tom Oliver, Filip Lievens

Research Collection Lee Kong Chian School Of Business

As a result of the increased frequency and complexity of interpersonal interactions in today’s workplaces, researchers and practitioners have emphasized the need for workers to be interpersonally adaptive (Griffi n, Neal, and Parker, 2007; Pulakos et al., 2000). Increasingly, to accomplish their work, workers need to interact effectively with others in the workplace. This is in part due to the predominance of service-oriented organizations in many economies (Zeithaml and Bitner, 1996). Workers in these organizations are required to spend a considerable part of their day engaging in social interactions and managing social relationships with customers (Schneider, 1994) and teams (Kozlowski …

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Stupid Doctors And Smart Construction Workers: Perspective-Taking Reduces Stereotyping Of Both Negative And Positive Targets, Cynthia S. Wang, Gillian Ku, Kenneth Tai, Adam D. Galinsky May 2014

Stupid Doctors And Smart Construction Workers: Perspective-Taking Reduces Stereotyping Of Both Negative And Positive Targets, Cynthia S. Wang, Gillian Ku, Kenneth Tai, Adam D. Galinsky

Research Collection Lee Kong Chian School Of Business

Numerous studies have found that perspective-taking reduces stereotyping and prejudice, but they have only involved negative stereotypes. Because target negativity has been empirically confounded with reduced stereotyping, the general effects of perspective-taking on stereotyping and prejudice are unclear. By including both positively and negatively stereotyped targets, this research offers the first empirical test of two competing hypotheses: The positivity hypothesis predicts that perspective-taking produces a positivity bias, with less stereotyping of negative targets but more stereotyping of positive targets. In contrast, the stereotype-reduction hypothesis predicts that perspective-taking reduces stereotyping, regardless of target valence. Three studies support the stereotype-reduction hypothesis. Perspective-taking …

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Future Scenarios For Management Education, Howard Thomas, Michelle P. Lee, Alexander Wilson May 2014

Future Scenarios For Management Education, Howard Thomas, Michelle P. Lee, Alexander Wilson

Research Collection Lee Kong Chian School Of Business

Business schools are facing unprecedented challenges, ranging from financial sustainability in some quarters to waning demand for the MBA to the potentially disruptive impact of massive open online courses. Given these challenges, how might the future of management education unfold? The purpose of this paper is to better understand how leaders in management education perceive these challenges and their likely impact on the evolution of the field. The authors conducted in-depth interviews with 39 experts, the majority of who were in leadership positions at business schools. Each of these in-depth interviews was tape-recorded, transcribed and then content-analysed. The authors asked …

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Corporate Sociability: Analysing Motivations For Collaborative Regulation, Mark Findlay May 2014

Corporate Sociability: Analysing Motivations For Collaborative Regulation, Mark Findlay

Research Collection Yong Pung How School Of Law

The article explores the features and charts the principle theorizing of regulatory sociability from collaboration rather than intervention, whatever the interest-based motivation behind transforming crisis, toward orderliness. A key theme is the role played by corporations in facilitating and benefiting from sociability. A particular explanatory focus on the way in which corporate culture can change from predatory jurisdiction shopping to embracing mutuality of interests in the context of environmental sustainability is employed. The article concludes with a discussion of how, as compulsory discipline increases, it may produce compliance but at costs for regulatory sociability. The alternative regulatory paradigm is one …

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Realistic Ways To Raise Cpf Returns, Seng Kee Benedict Koh May 2014

Realistic Ways To Raise Cpf Returns, Seng Kee Benedict Koh

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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Bank Accounting Conservatism And Bank Loan Pricing, Chu Yeong Lim, Edward Lee, Asad Kausar, Martin Walker May 2014

Bank Accounting Conservatism And Bank Loan Pricing, Chu Yeong Lim, Edward Lee, Asad Kausar, Martin Walker

Research Collection School Of Accountancy

This paper studies the effects of bank accounting conservatism on the pricing of syndicated bank loans. We provide evidence that banks timelier in loss recognition charge higher spreads. We go onto consider what happens to the relationship between spreads and timeliness in loss recognition during the financial crisis. During the crisis, banks timelier in loss recognition increase their spreads to a lesser extent than banks less timely in loss recognition. These findings are broadly consistent with the argument that conditional accounting conservatism serves a governance role. The policy implication is that banks timelier in loss recognition exhibit more prudent and …

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Short Sellers And Corporate Disclosures, Qiang Cheng, Xia Chen, Ting Luo, Heng Yue May 2014

Short Sellers And Corporate Disclosures, Qiang Cheng, Xia Chen, Ting Luo, Heng Yue

Research Collection School Of Accountancy

We examine how short sellers affect corporate disclosures using a natural experiment. From May 2005 to July 2007, the SEC implemented a pilot program by randomly selecting one third of Russell 3000 stocks and removing the short sale price tests for these stocks (referred to as pilot firms), leading to lower short-selling constraint, without changing the requirement for other firms (referred to as control firms). We compare the change in corporate disclosures between the pilot firms and the control firms during this period. We find that compared to the control firms, the pilot firms are more likely to issue good …

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Causes And Consequences Of Corporate Asset Exchanges By Listed Companies In China, Fang Lou, Jiwei Wang, Hongqi Yuan May 2014

Causes And Consequences Of Corporate Asset Exchanges By Listed Companies In China, Fang Lou, Jiwei Wang, Hongqi Yuan

Research Collection School Of Accountancy

China's listed companies often exchange corporate assets with their parent companies. We find that listed companies that have been incompletely restructured from former state-owned enterprises and in sound financial condition tend to exchange higher quality assets for lower quality assets (i.e., tunneling). However, when there is a need to avoid reporting a loss and to raise additional capital, listed companies tend to exchange lower quality assets for higher quality assets (i.e., propping). We also find that the market reacts indifferently to asset exchange announcements. Finally, we find asset exchanges motivated by a tunneling (propping) incentive to be associated with poorer …

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The Role Of Deferred Pay In Retaining Managerial Talent, Radhakrishnan Gopalan, Sheng Huang, Johan Maharjan May 2014

The Role Of Deferred Pay In Retaining Managerial Talent, Radhakrishnan Gopalan, Sheng Huang, Johan Maharjan

Research Collection Lee Kong Chian School Of Business

We examine the role of deferred vesting of stock and option grants in reducing executive turnover. To the extent an executive forfeits all unvested stock and option grants if she leaves the firm, deferred vesting will increase the cost (to the executive) of early exit. Using pay Duration proposed in Gopalan, et al., (forthcoming) as a measure of the length of managerial pay, we find that CEOs and non-CEO executives with longer pay Duration are less likely to leave the firm voluntarily. Employing the vesting of a large prior-year stock/option grant as an instrument for Duration, we find the effect …

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Irrational To Expect Low Risk And High Returns, Benedict Koh May 2014

Irrational To Expect Low Risk And High Returns, Benedict Koh

Research Collection Lee Kong Chian School Of Business

The low interest paid on Central Provident Fund (CPF) balances when compared with the relatively high returns earned by government investment entities such as Temasek Holdings and GIG is a common gripe.

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Implementing Liberal Management Education Through The Lens Of The Other, Thomas Estad, Stefano Harney, Howard Thomas May 2014

Implementing Liberal Management Education Through The Lens Of The Other, Thomas Estad, Stefano Harney, Howard Thomas

Research Collection Lee Kong Chian School Of Business

The purpose of this paper is to explore the prerequisite conditions for implementing a liberal management education and for fostering ethical students using examples from the core curriculum at Singapore Management University (SMU). Beginning with a reading of the Carnegie Foundation's Rethinking Undergraduate Business Education: liberal learning for the professions (2011), the paper examines the contribution and limits of the findings and recommendations before discussing the place of the liberal arts in the modern university and describing a case study of liberal management education in process at SMU. It concludes with a reading of the work of Emmanuel Levinas and …

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Management Education: The Path Behind And The Road Ahead, Howard Thomas May 2014

Management Education: The Path Behind And The Road Ahead, Howard Thomas

Research Collection Lee Kong Chian School Of Business

Despite these identity struggles and occasional moments of crisis, business schools have grown in popularity over the years and are resilient to fluctuations in the economy.

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Unleashing Creativity Across Cultural Borders, Roy Y. J. Chua May 2014

Unleashing Creativity Across Cultural Borders, Roy Y. J. Chua

Research Collection Lee Kong Chian School Of Business

As the global economy integrates and companies pursue opportunities outside their traditional borders, it is increasingly important to innovate across cultural borders. This article explains how individuals can improve cross-cultural creativity.

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Wealth Management In Singapore, Francis Koh May 2014

Wealth Management In Singapore, Francis Koh

Research Collection Lee Kong Chian School Of Business

As early as 2015, Singapore may oust Switzerland as the world’s top finance hub. But the path forward requires adjustments in the strategic direction of individual firms. Wealth management in Singapore is vibrant, growing, challenging.

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Media Frames And Cognitive Accessibility: What Do "Global Warming" And "Climate Change" Evoke Partisan Minds?, Jonathon P. Schuldt, Sungjong Roh May 2014

Media Frames And Cognitive Accessibility: What Do "Global Warming" And "Climate Change" Evoke Partisan Minds?, Jonathon P. Schuldt, Sungjong Roh

Research Collection Lee Kong Chian School Of Business

Decades of research demonstrate that how the public thinks about a given issue is affected by how it is framed by the media. Typically, studies of framing vary how an issue is portrayed (often, by altering the text of written communication) and compare subsequent beliefs, attitudes, or preferences—taking a framing effect as evidence that a media frame (or frame in communication) instantiated a particular audience frame (or frame in thought). Less work, however, has attempted to measure frames in thought directly, which may illuminate cognitive mechanisms that underlie framing effects. In this vein, we describe a Web experiment (n = …

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An Oreo With Chinese Characteristics, Srinivas K. Reddy May 2014

An Oreo With Chinese Characteristics, Srinivas K. Reddy

Research Collection Lee Kong Chian School Of Business

In late 2005, Shawn Warren, head of biscuits, Asia Pacific for Kraft, was in desperate need of a quick turnaround strategy. Oreo, after nearly 10 years in the China market was facing the imminent disaster of being completely pulled from the shelves. Local retail channels, along with company headquarters near Chicago, had finally grown impatient of the iconic product's lacklustre sales. When Warren described the turnaround in March 2012, he said, "The first step to solving a problem is to admit you have one. We are committed to have this brand and put resources behind it."

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Intergroup Competition As A Double-Edged Sword: How Sex Composition Regulates The Effects Of Competition On Group Creativity, Marcus Baer, Abhijeet K. Vadera, Roger T. A. J. Leenders, Greg R. Oldham May 2014

Intergroup Competition As A Double-Edged Sword: How Sex Composition Regulates The Effects Of Competition On Group Creativity, Marcus Baer, Abhijeet K. Vadera, Roger T. A. J. Leenders, Greg R. Oldham

Research Collection Lee Kong Chian School Of Business

Building on social role theory, we extend a contingency perspective on intergroup competition proposing that having groups compete against one another is stimulating to the creativity of groups composed largely or exclusively of men but detrimental to the creativity of groups composed largely or exclusively of women. We tested this idea in two separate studies: a laboratory experiment (Study 1) and a field study (Study 2). Study 1 showed that competition had the expected positive effects on the creativity of groups composed mostly or exclusively of men and produced the predicted negative effects on the creativity of groups composed of …

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