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Articles 4381 - 4410 of 6939

Full-Text Articles in Business

We Are The Champions, Nirmalya Kumar, Jan-Benedict E. M. Steenkamp Jun 2013

We Are The Champions, Nirmalya Kumar, Jan-Benedict E. M. Steenkamp

Research Collection Lee Kong Chian School Of Business

From China Mobile to Coal India, state-supported firms are on the march. The authors map out the route from being a national champion to becoming a global brand.


The Asian Century: But What Do Comparative Histories Tell Us About Practice?, Gregor Halff, Anne Gregory Jun 2013

The Asian Century: But What Do Comparative Histories Tell Us About Practice?, Gregor Halff, Anne Gregory

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Stock Picking, Industry Picking And Market Timing In Sell-Side Research, Ohad Kadan, Leonardo Madureira, Rong Wang, Tzachi Zach Jun 2013

Stock Picking, Industry Picking And Market Timing In Sell-Side Research, Ohad Kadan, Leonardo Madureira, Rong Wang, Tzachi Zach

Research Collection Lee Kong Chian School Of Business

Sell-side analysts employ different benchmarks when defining their stock recommendations. For example, a ‘buy’ for some brokers means the stock is expected to outperform its peers in the same sector (“industry benchmarkers”), while for other brokers it means the stock is expected to outperform the market (“market benchmarkers”), or just some absolute return (“total benchmarkers”). We use these benchmarks to analyze the role of stock picking, industry picking and market timing in contributing to the performance of stock recommendations. We are able to do so given that different benchmarks suggest the use of different sets of abilities. Analysis of the …


Liquidity And Crises In Asian Markets, C. Charoenwong, David K. Ding, Y. C. Yang Jun 2013

Liquidity And Crises In Asian Markets, C. Charoenwong, David K. Ding, Y. C. Yang

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Designing Trustworthy Organizations, Robert F. Hurley, Nicole Gillespie, Donald L. Ferrin, Graham Dietz Jun 2013

Designing Trustworthy Organizations, Robert F. Hurley, Nicole Gillespie, Donald L. Ferrin, Graham Dietz

Research Collection Lee Kong Chian School Of Business

Companies often blame trust violations on ‘rogue employees', but these violations are predictable in organizations that allow dysfunctional, conflicting or incongruent activities to take root.


From The Digital Divide To Inclusive Innovation: The Case Of Digital Money, Mark Dodgson, David Gann, Irving Wladawsky-Berger, Gerard George Jun 2013

From The Digital Divide To Inclusive Innovation: The Case Of Digital Money, Mark Dodgson, David Gann, Irving Wladawsky-Berger, Gerard George

Research Collection Lee Kong Chian School Of Business

This report is concerned with a profoundly transformative technology, one that affects a crucial element of the fabric of society. It examines digital money, a technology that moves economic transactions, payments, remittances, transfers etc, from the physical into the digital world. Just as communications and publishing have been transformed by digital technologies, so too will financial services. The progress of digital money will inevitably surprise us and it will develop in unexpected ways, but we believe it is on the cusp of delivering a remarkable transformation in the global economy. It will end the divide between those who can and …


Cracking The Case, Singapore Management University May 2013

Cracking The Case, Singapore Management University

Perspectives@SMU

Can you build a convincing business case within 24 hours? A bunch of undergraduates did. Twenty-four teams took part in this year’s APEX Business-IT Global Case Challenge, the fifth edition of an annual student-run competition started by undergraduates at Singapore Management University’s School of Information Systems.


Coke’S Secret Ingredient: The Power Of Storytelling, Singapore Management University May 2013

Coke’S Secret Ingredient: The Power Of Storytelling, Singapore Management University

Perspectives@SMU

Coca-Cola was a product developed during the manufacturing era of the second industrial revolution. In its 120-year history, the world has changed. How does Coca-Cola compete and stay relevant in the 21st century with technology brands like Google and Facebook dominating people’s attention? According to Leonardo O’Grady, Director ASEAN Integrated Marketing & Communications, Coca-Cola Asia Pacific, the key to success is engaging the market with great story-telling.


How To Make Happy Workers, Singapore Management University May 2013

How To Make Happy Workers, Singapore Management University

Perspectives@SMU

Companies around the world are realising that happy employees are more productive and that investing in morale will pay dividends in the form of more creative and loyal workers. Several American companies have stood out by offering their employees great perks. This mindset is now becoming more common among Asian organisations, according to Felix Sim, the CEO of a Singaporean team-building company, Playlor!


Konformity Kills, Singapore Management University May 2013

Konformity Kills, Singapore Management University

Perspectives@SMU

Unconventional Thinking. More crucial now than ever before. According to Dr. Eric J. Romero, the fall of the great brands of the last millennium - Nokia, Kodak, Hewlett Packard and General Motors - are examples of how conventional thinking impedes innovation. Nowadays, it is unconventional leadership and thinking that spur competitive advantage. The importance of creativity has been emphasised in nearly all literature and journal articles published this decade, adds the author of “Compete Outside the Box: The Unconventional Way to Beat the Competition”. "The fact is, the lack of it has brought the corporate behemoths …


Parallels Between The U.S. And Asian Property Markets, Singapore Management University May 2013

Parallels Between The U.S. And Asian Property Markets, Singapore Management University

Perspectives@SMU

U.S. home prices are on an upswing. What does this mean for the Asian property market?


When The Pcaob Talks, Who Listens? Evidence From Stakeholder Reaction To Gaap-Deficient Pcaob Inspection Reports Of Small Auditors, Lawrence J. Abbott, Katherine A. Gunny, Tracey Chunqi Zhang May 2013

When The Pcaob Talks, Who Listens? Evidence From Stakeholder Reaction To Gaap-Deficient Pcaob Inspection Reports Of Small Auditors, Lawrence J. Abbott, Katherine A. Gunny, Tracey Chunqi Zhang

Research Collection School Of Accountancy

Section 104 of the Sarbanes-Oxley Act (SOX) created the Public Company Accounting Oversight Board (PCAOB). The PCAOB conducts inspections of registered public accounting firms that provide audits for publicly traded companies. The results of the inspection process are summarized in publicly available reports at the PCAOB website. Using these reports, we categorize the inspection reports into three levels of increasing severity: clean, GAAS-deficient, and GAAP-deficient. We examine the potential use of GAAP-deficient PCAOB inspection reports as perceived audit quality signals for the clients of GAAP-deficient auditors that are inspected on a triennial basis by the PCAOB. Our investigation is predicated …


Tesla: An Energy-Saving Agent That Leverages Schedule Flexibility, Jun Young Kwak, Pradeep Varakantham, Rajiv Maheswaran, Burcin Becerik-Gerber, Milind Tambe May 2013

Tesla: An Energy-Saving Agent That Leverages Schedule Flexibility, Jun Young Kwak, Pradeep Varakantham, Rajiv Maheswaran, Burcin Becerik-Gerber, Milind Tambe

Research Collection School Of Computing and Information Systems

This innovative application paper presents TESLA, an agent-based application for optimizing the energy use in commercial buildings. TESLA’s key insight is that adding flexibility to event/meeting schedules can lead to significant energy savings. TESLA provides three key contributions: (i) three online scheduling algorithms that consider flexibility of people’s preferences for energyefficient scheduling of incrementally/dynamically arriving meetings and events; (ii) an algorithm to effectively identify key meetings that lead to significant energy savings by adjusting their flexibility; and (iii) surveys of real users that indicate that TESLA’s assumptions exist in practice. TESLA was evaluated on data of over 110,000 meetings held …


The Unfulfilled Promise Of Management Education (Me): The Role, Value And Purposes Of Me, Howard Thomas, Lynne Thomas, Alex Wilson May 2013

The Unfulfilled Promise Of Management Education (Me): The Role, Value And Purposes Of Me, Howard Thomas, Lynne Thomas, Alex Wilson

Research Collection Lee Kong Chian School Of Business

This paper aims to review the evolution of management education primarily over the last 50 years and seeks to identify the challenges and lessons learned in management education and to assess the potential for change. To gain insight into these issues the authors draw on the perspectives of around 40 key individuals from academia, professional bodies, media, business and students.


Education 2.0 In Indonesia: Inspiring Bamboo Innovators, Koon Boon Kee May 2013

Education 2.0 In Indonesia: Inspiring Bamboo Innovators, Koon Boon Kee

Research Collection School Of Accountancy

No abstract provided.


Firms' Intentions To Use Nonownership Services, Kristina Wittkowski, Sabine Moeller, Jochen Wirtz May 2013

Firms' Intentions To Use Nonownership Services, Kristina Wittkowski, Sabine Moeller, Jochen Wirtz

Research Collection Lee Kong Chian School Of Business

In this study, we investigate why companies intend to use nonownership services by conducting qualitative interviews with 10 experts to develop our hypotheses, then using a survey to test them. Our findings show that, as hypothesized, firms’ intentions to use nonownership services are affected by both financial (i.e., tax efficiency and cash and liquid asset management) and nonfinancial (i.e., control over assets and access to the latest technology and tools) factors, with access to the latest technology and tools being the most important driver. Furthermore, we show that the effect that the desire to gain access to the latest technology …


An Examination Of The Statistical Significance And Economic Implications Of Model-Based And Analyst Earnings Forecasts, Kevin Ow Yong, M. Evans, K Njoroge May 2013

An Examination Of The Statistical Significance And Economic Implications Of Model-Based And Analyst Earnings Forecasts, Kevin Ow Yong, M. Evans, K Njoroge

Research Collection School Of Accountancy

We address the demand for model-based earnings forecasts by proposing a cross-sectional model which incorporates three salient ideas. First, firm performance converges to expected levels over time; second, amounts from current financial statements are robust predictors of future performance; and third, ordinary least squares (OLS) estimation is unreliable in samples including extreme values. Accordingly, we estimate a cross-sectional earnings forecasting model based on least absolute deviations analysis (LAD), and include profitability drivers derived from financial statements as predictors. In terms of statistical significance, we find that these forecasts are more accurate than forecasts from three extant prediction models and consensus …


The Liability Of Foreignness In International Equity Investments: Evidence From The U.S. Stock Market, Bok Baik, Jun-Koo Kang, Jin-Mo Kim, Joonho Lee May 2013

The Liability Of Foreignness In International Equity Investments: Evidence From The U.S. Stock Market, Bok Baik, Jun-Koo Kang, Jin-Mo Kim, Joonho Lee

Research Collection School Of Accountancy

Using foreign institutional ownership data in the US from 1990 to 2007, we examine whether foreign institutional investors face liabilities of foreignness (LOF) in the US stock market. We find that foreign institutional investors prefer low information asymmetry stocks more than domestic institutional investors do, and this preference for low information asymmetry stocks is particularly strong among foreign institutional investors from countries with high LOF. More importantly, we find that a change in foreign institutional ownership is negatively related to future returns, whereas this relation does not exist for domestic institutional ownership. The negative relation between the change in foreign …


Masters Of The Universe: How Power And Accountability Influence Self-Serving Decisions Under Moral Hazard, Marko Pitesa, Stefan Thau May 2013

Masters Of The Universe: How Power And Accountability Influence Self-Serving Decisions Under Moral Hazard, Marko Pitesa, Stefan Thau

Research Collection Lee Kong Chian School Of Business

This article provides an answer to the question of why agents make self-serving decisions under moral hazard and how their self-serving decisions can be kept in check through institutional arrangements. Our theoretical model predicts that the agents' power and the manner in which they are held accountable jointly determine their propensity to make self-serving decisions. We test our theory in the context of financial investment decisions made under moral hazard using others' funds. Across 3 studies, using different decision-making tasks, different manipulations of power and accountability, and different samples, we show that agents' power makes them more likely to behave …


Demand Forecasting Using A Growth Model And Negative Binomial Regression Framework, Cally Yeru Ong, Murphy Choy, Michelle L. F. Cheong May 2013

Demand Forecasting Using A Growth Model And Negative Binomial Regression Framework, Cally Yeru Ong, Murphy Choy, Michelle L. F. Cheong

Research Collection School Of Computing and Information Systems

In this paper, we look at demand forecasting by using a growth model and negative binomial regression framework. Using cumulative sales, we model the sales data for different wristwatch brands and relate it to their sales and growth characteristics. We apply clustering to determine the distinctive characteristics of each individual cluster. Four different growth models are applied to the clusters to find the most suitable growth model to be used. After determining the appropriate growth model to be applied, we then forecast the sales by applying the model to new products being launched in the market and continue to monitor …


Implementation Of Slowly Changing Dimension To Data Warehouse To Manage Marketing Campaigns In Banks, Lihui Wang, Junyu Choy, Michelle L. F. Cheong May 2013

Implementation Of Slowly Changing Dimension To Data Warehouse To Manage Marketing Campaigns In Banks, Lihui Wang, Junyu Choy, Michelle L. F. Cheong

Research Collection School Of Computing and Information Systems

Management of updating and recording campaign leads in data warehouse of any banking environment is complex especially with multiple campaigns are active simultaneously. As a way to avoid overly contacting customers for sales-based marketing contacts, the concept of Recency Frame is introduced to “lock” the customers who are targeted in Sales-based campaign for a specified time period. During this Recency Frame, the customer cannot be targeted by other Sales-based campaign under the same channel. This approach increased the difficulties of managing the customers’ data with proper data updating and storing and procedures have to be placed and made sufficiently robust …


Scheduling Arrivals To A Stochastic Service Delivery System Using Copositive Cones, Qingxia Kong, Chung-Yee Lee, Chung-Piaw Teo, Zhichao Zheng May 2013

Scheduling Arrivals To A Stochastic Service Delivery System Using Copositive Cones, Qingxia Kong, Chung-Yee Lee, Chung-Piaw Teo, Zhichao Zheng

Research Collection Lee Kong Chian School Of Business

In this paper we investigate a stochastic appointment-scheduling problem in an outpatient clinic with a single doctor. The number of patients and their sequence of arrivals are fixed, and the scheduling problem is to determine an appointment time for each patient. The service durations of the patients are stochastic, and only the mean and covariance estimates are known. We do not assume any exact distributional form of the service durations, and we solve for distributionally robust schedules that minimize the expectation of the weighted sum of patients' waiting time and the doctor's overtime. We formulate this scheduling problem as a …


The Future Of Doctoral Education In Business Administration, Arnoud Cyriel Leo De Meyer May 2013

The Future Of Doctoral Education In Business Administration, Arnoud Cyriel Leo De Meyer

Research Collection Lee Kong Chian School Of Business

Doctoral education in business administration needs to change in order to cope with the fast growing demand for PhD holders, who can teach and perform research at a high quality level. Additionally, society has a rapidly growing need for knowledge workers who have a doctoral education or an equivalent. The traditional apprentice approach may not be able to cope with that demand. Society has also criticized the inefficiency and cost associated with the current model of PhD education in management or business administration. The purpose of this paper is to provide a reflection for leaders in business education on how …


Do Singaporeans Spend Too Much On Housing?, Sock Yong Phang May 2013

Do Singaporeans Spend Too Much On Housing?, Sock Yong Phang

Research Collection School Of Economics

According to a 2011 IMF study, Singapore's level of government intervention in housing finance is the highest in the developed world (Slide 3). This level of intervention in housing finance has correspondingly produced the highest level of homeownership amongst advanced countries. This housing outcome is the result of our very unique HDB-CPF housing framework – an institutional framework that was established in the 1960s during the formative period of our country?s history (Slides 4 and 5). Singapore was, at that particular point in time, faced with a situation of chronic housing shortage, low homeownership rates and an underdeveloped housing mortgage …


How Important Are Earnings Announcements As An Information Source?, Sudipta Basu, Truong Duong, Stanimir Markov, Eng Joo Tan May 2013

How Important Are Earnings Announcements As An Information Source?, Sudipta Basu, Truong Duong, Stanimir Markov, Eng Joo Tan

Research Collection Lee Kong Chian School Of Business

In a competitive information market, no single information source is likely to dominate all other sources collectively, but a single source can dominate all or most other sources individually. We explore whether earnings announcements constitute such a dominant source using Ball and Shivakumar’s R2 metric: the proportion of the variation in annual returns explained by earnings announcement returns. We find that earnings announcement R2 is 11% -- higher than the corresponding R2 of returns on days with dividend announcements, management forecasts, preannouncements, 10-K and 10-Q filings and amendments. Only the four largest realized absolute daily returns in a year match …


Diversification In Hedge Fund Portfolios, Melvyn Teo Apr 2013

Diversification In Hedge Fund Portfolios, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

We explore the diversification benefits of increasing the number of hedge funds in an investment portfolio. Conventional wisdom suggests that investors should construct a portfolio of 20 to 30 hedge funds in order to achieve a reasonably low portfolio variance. We show using Monte Carlo simulations that the marginal benefit of including an additional hedge fund in a fund portfolio diminishes significantly once the number of hedge funds increases beyond ten. Specifically, the annualized standard deviation of a fund portfolio diminishes from 16.55 percent to 7.40 percent as we increase the number of funds from one to ten. However, the …


Corporate Evolution: From Ngos And Social Enterprises To ‘Good Companies’, Singapore Management University Apr 2013

Corporate Evolution: From Ngos And Social Enterprises To ‘Good Companies’, Singapore Management University

Perspectives@SMU

Frequently seen as an alternative to the realities of hardcore corporate life, social entrepreneurship and its emphasis on giving back to society after a life of abundance, may well become a thing of the past, along with Non Government Organisations (NGOs), which often act as watchdogs of corporate and government policy and practice. Both will likely transition into and underpin new ‘good companies’. At least that’s the view of leading Singapore social entrepreneur, Jack Sim, the founder of the World Toilet Organisation (WTO).


Family Business: Back In Fashion, Singapore Management University Apr 2013

Family Business: Back In Fashion, Singapore Management University

Perspectives@SMU

Family businesses have come back into style, says Joseph Astrachan, a professor at Kennesaw State University who specialises in family business. Astrachan’s research has found that in today’s economy, consumers tend to feel a personal connection with family-owned companies. When consumers understand that there are real people behind the brand, they find it easier to relate to the company. "Family businesses tend to be more trusted by consumers," he told Perspectives@SMU on the sidelines of the launch of the SMU Business Families Institute.


The Future Of International Trade: Sustainability Is Key, Singapore Management University Apr 2013

The Future Of International Trade: Sustainability Is Key, Singapore Management University

Perspectives@SMU

What can multinational companies do to ensure that international trade flourishes in years to come? Gerry Craggs, the Far East managing director of steel trading company Stemcor, says that companies like his need to focus on developing sustainable trading policies rather than immediate gain. "Sustainable trading is not driven by short term profit but by providing optimal medium and long-term supply chain solutions that benefit all participants," he told Perspectives@SMU on the sidelines of the 5th anniversary celebration of the university’s International Trade Institute (ITI). Craggs is also Chair of the International Trading Concentration Sub-Committee at the institute that consists …


Ratings & Downgrades: Opportunities In A Spooked Market, Singapore Management University Apr 2013

Ratings & Downgrades: Opportunities In A Spooked Market, Singapore Management University

Perspectives@SMU

The ratings downgrades that are spooking many of the developed economies might hold promise for Asia in the long-term, although some of the region’s newer economies will need to get their political houses in order to get a credit rating, says Professor Annie Koh.