Business Commons^™

Multinational Platforms And Legitimacy Spillovers, Sali Li, Maximilian Stallkamp, Noman Shaheer, Liang Chen

Research Collection Lee Kong Chian School Of Business

Multinational platforms (MNPs), such as TikTok, Grab, and Airbnb, are facing sig nificant legitimacy challenges in foreign markets. While some of these challenges are similar to those experienced by conventional multinational enterprises (MNEs), the platform-based business models of MNPs, which create value primarily through networks of external users and complementors, rather than through hierarchically controlled foreign subsidiaries, lead to unique legitimacy challenges and open up novel strategies for overcoming them. We explore how MNPs can leverage legiti macy spillovers from their complementors to overcome legitimacy challenges and establish credibility in new markets. We propose that effective governance and stra tegic …

Assessing Divergence And Convergence In The Design Process: Results From Two Experiments, Arlindo Silva, Tamas Makany, Matt Chiu

Research Collection Lee Kong Chian School Of Business

It is often assumed that the design process comprises divergent and convergent thinking cycles. Although many authors studied the design process in depth, a quantification of divergence and convergence is yet to be established. This paper attempts to quantify divergence and convergence in the design process for teams of design students. Student submissions from two independent design-related courses from two Universities are analysed for divergent and convergent thinking. Such an approach uses Natural Language Processing to harvest existing student submissions in written documents and converts them into a 'real-time' dashboard for feedback that can be used in multiple ways: searching …

Generative Artificial Intelligence In Business Higher Education: A Focus Group Study, Xuenan Huo, Keng Siau

Research Collection School Of Computing and Information Systems

This research investigates the opportunities and challenges of integrating generative artificial intelligence (GenAI) into business higher education, drawing insights from an asynchronous focus group research study with doctoral students who serve dual roles as both learners and educators. Key opportunities identified through thematic analysis include knowledge acquisition, intelligent co-ideation, supportive augmentation, and personalized learning. Challenges identified include AI trustworthiness, cognitive dependency, human value, policy and instruction, assessment integrity, and identity management. This study clarifies GenAI’s specific role in business education and provides practical insights for effectively integrating GenAI to enhance learning outcomes and address emerging challenges. An analysis theory on …

Universal Return And Factor Timing, Poh Ling Neo, Chyng Wen Tee, Jeroen Kerkhof

Research Collection Lee Kong Chian School Of Business

The authors highlight the shortcomings of commonly used performance graphs in assessing and comparing investment returns. This paper's main conceptual contribution is the introduction of Universal Return (UR) - a visual method to evaluate and rank investment strategies that challenges the traditional focus on raw performance statistics. The authors argue that the ranking of investment performance when viewed from a pool of investors over different entry time is more important than its overall absolute returns, as it better aligns investment analysis with the needs of investors, who are primarily concerned with identifying currently successful strategies or managers rather than dwelling …

Corporate Disclosures For Green Supply Chains: Evidence From Scope 3 Emissions Disclosure, Young Jun Cho, Jungbae Kim, Holly I. Yang, Mengjie Yang

Research Collection School Of Accountancy

A firm's decision to initiate Scope 3 emissions disclosure not only reflects their sustainability efforts but also signals their commitment to decarbonizing its value chain, fostering collaboration among suppliers in promoting greener supply chains. Using a generalized difference-in-differences research design, we find that suppliers reduced greenhouse gas emissions following their customers’ initiation of Scope 3 emissions disclosures. This reduction in emissions is more pronounced when the supplier poses greater climate risk and when the customer has a greater need to restore public trust for its climate-related behavior. We also find that this effect varies with the strength of the customer-supplier …

Meta-Entrepreneurship: An Analysis Theory On Integrating Generative Ai, Agentic Ai, And Metaverse For Entrepreneurship, Yingying Zhang, Keng Siau

Research Collection School Of Computing and Information Systems

Metaverse entrepreneurship has emerged as an innovative topic alongside the development of generative AI, agentic AI and metaverse. This study conceptualizes meta-entrepreneurship as a novel form of entrepreneurial activity that enables value creation within virtual and physical realms and proposes an analytical theoretical framework based on a systematic literature review, observations, and focus group study. Our framework is structured around three layers (infrastructure, content, and experience) and two domains (metaverse-based operational domain and AI-based production domain), aims to conceptualize “what is meta-entrepreneurship” and identify new possibilities. The research highlights the multifaceted impact of meta-entrepreneurship on individuals, corporations, industries, societies, and …

Research On The Influence Of Complementary Assets On Innovation Performance Of New R&D Institutions, Yong Li

Dissertations and Theses Collection (Open Access)

Since the development of new R&D institutions in China in the 1990s, they have received advocacy and support from both national and local governments. After more than 20 years of exploration and development, new R&D institutions have gradually developed characteristics such as diversified investment sources, flexible organizational structures, market-oriented operations, and multi-functional coordination. These institutions have increasingly played an active role in promoting scientific and technological innovation and regional economic development. In the research on the development and evolution, modes and mechanisms, and performance and evaluation of new R&D institutions, numerous results have been generated, promoting the construction and development …

The Research On The Impact Of Listing Regime On Innovation For The Biotech Industry: Inspiration And Experience From Mb Rules 18a Published By Hkex, Yueying Dong

Dissertations and Theses Collection (Open Access)

The development of the Biotech Industry is not only connected to the national economy and livelihood of the people, but also affects the technology development, economy growth and national security of the country. The development depends on the technology innovation, with the essence for the continuous process of financial ecology guiding and technology refresh driving. For high-tech intensive industries of biotech companies, the development of the equity market is an important support for promoting the technology innovation. The capital market in guiding resource allocation has the responsibility of optimizing the listing regime, providing more external financing channels and promoting the …

The Effect Of Private Placement On Investment Efficiency: Empirical Evidence From The New Refinancing Regulations, Zhiyong Han

Dissertations and Theses Collection (Open Access)

Compared with public offerings, private placements are more attractive to investors due to a lower threshold, a simpler procedure, and a higher success rate of issuance. These advantages make private placements the preferred choice for listed companies seeking to issue additional shares in many capital markets. With the increased prevalence of private placements as a refinancing method, how to effectively leverage raised funds and improve investment efficiency has emerged as a topic under discussion within the academic community. However, whether private placements can affect investment efficiency remains controversial. Moreover, previous studies lack systematic empirical evidence, and endogeneity issues hinder an …

Impact Of Project Simulation Shareholding Incentive On Team Performance: Research Based On The Construction Industry, Jian Zhou

Dissertations and Theses Collection (Open Access)

China's construction industry is vast and possesses a wide market; however, it faces challenges such as unclear stratification and low concentration levels. Construction enterprises face significant constraints in key areas such as financial strength, team stability, and technological advancement, while also bearing substantial costs related to supervision and accountability. The project simulation shareholding mode enhances employees' sense of belonging and responsibility through a collaborative approach characterized by joint management, shared risks, and shared benefits. This improves project execution efficiency and quality, ultimately strengthening the core competitiveness of the enterprise. In the construction industry, projects often involve substantial investments and long-term …

Unravel The University-Enterprise Research Collaboration: Evidence From Multiple Cases, Lihua Luo

Dissertations and Theses Collection (Open Access)

This study elucidates the pivotal determinants of industry-university research collaboration within the chemical industry and delineates its operational modalities, which can offer valuable insights for pertinent theoretical research and practical applications. By employing grounded theory, an in-depth qualitative analysis of several collaborative cases between chemical enterprises and higher education institutions was conducted, which culminated in the construction of a theoretical model for industry–university research collaboration. The findings reveal that the government plays a significant intermediary role in industry–university partnerships by facilitating the smooth progression and commercialization of collaborative endeavors through policy support, financial subsidies, and performance evaluation.

Moreover, the complementarity …

The Double-Edged Effect Of Ceo Maximizing Values And Corporate Litigation Risk, Qing Xu

Dissertations and Theses Collection (Open Access)

Based on the higher-order theoretical perspective, this study explores the nonlinear influence mechanism of CEO value maximization tendency on corporate litigation risk and its boundary conditions. Based on the survey data of 225 CEOs in the Chinese context, it is found that CEO value maximization has a significant U-shaped relationship with corporate litigation risk, which indicates that moderate value pursuit can reduce litigation risk, but excessive pursuit will increase the possibility of risk, verifying the “dual governance effect”. Environmental uncertainty, redundant resources and CEO tenure moderated the U-shaped relationship between CEO value maximization and corporate litigation risk.

The theoretical contribution …

Political Embeddedness And Organizational Resilience: Empirical Investigation And Theorisation Of Institutional Translation Mechanisms In Chinese Private Enterprises, Shuai Shao

Dissertations and Theses Collection (Open Access)

China is governed by the Communist Party of China (CPC), which embodies the nation's core values, mission, and ideological framework. The CPC organization embeddedness represents a distinctive governance arrangement, reflecting the state's Political Integration Imperatives. In the context of significant external shocks such as Covid-19, how does this political embeddedness influence private enterprises' organizational resilience - specifically their capacity to withstand disruptions and their ability to recover? What are the underlying mechanisms driving these effects?

This study employs a mixed-methods approach to investigate how CPC organization embeddedness shapes organizational resilience within China's unique institutional context, and the mechanisms through which …

Manufacturing Enterprises' Gross Margins And Performance: A Study On The Moderating Effect Of Management Expenses And R&D Expenses, Jiuliu Zhang

Dissertations and Theses Collection (Open Access)

In the context of globalization, manufacturing enterprises are integral to national economies, with their financial stability closely related to increasingly fierce market competition. Among various financial metrics, gross margin stands out as a key indicator of product profitability, significantly impacting production decisions, cost control, and pricing strategies. Understanding the relationship between the gross margins of manufacturing enterprises and their performance is essential for optimizing their financial structures and enhancing their market competitiveness. The study aims to investigate the correlation between gross margin and enterprise performance by developing complex, scientifically sound models and utilizing big data analysis technology. Additionally, it examines …

Personality Dynamics Turn Positive And Negative Mood Into Creativity, Ronald Bledow, Jana Kuhnel, Julius Kuhl

Research Collection Lee Kong Chian School Of Business

Introduction: Research on the link between affect and creativity rests on the assumption that creativity unfolds as a stimulus-driven response to affective states. We challenge this assumption and examine whether personality dynamics moderate the relationship of positive and negative mood with creativity. Theoretical Model: According to our model, personality dynamics that generate and maintain positive affect and down-regulate negative affect energize creativity. Based on this model, we expect high creativity in response to negative mood if people engage in self-motivation and achieve a reduction in negative mood. We further derive that individual differences in action versus state orientation moderate the …

A Full-History Network Dataset For Btc Asset Decentralization Profiling, Ling Cheng, Qian Shao, Fengzhu Zeng, Feida Zhu

Research Collection School Of Computing and Information Systems

Since its advent in 2009, Bitcoin (BTC) has garnered increasing attention from both academia and industry. However, due to the massive transaction volume, no systematic study has quantitatively measured the asset decentralization degree specifically from a network perspective.In this paper, by conducting a thorough analysis of the BTC transaction network, we first address the significant gap in the availability of full-history BTC graph and network property dataset, which spans over 15 years from the genesis block (1st March, 2009) to the 845651-th block (29, May 2024). We then present the first systematic investigation to profile BTC's asset decentralization and design …

Alternative Agrifood Systems And The Economic Sustainability Of Farmers' Cooperatives: The Chinese Experience, Zhanping Hu, Qian Forrest Zhang

Research Collection School of Social Sciences

Most registered farmers' cooperatives in China are de facto private enterprises; while many bring economic gains to farmers, they do not function as cooperatives. Among the small minority that started as authentic cooperatives, however, most struggled to provide economic benefits to members, unable to achieve economic sustainability. The failure of true farmers' cooperatives in China has been widely studied; the success of the few that did become economically sustainable, however, remains poorly understood. Using a sample of 70 farmers' cooperatives across the country and comparing three “extreme cases”—cooperatives that are both authentic and economically successful—with the rest, this study argues …

Audit Firms' Entry Into H-Share Audit Market And Mainland Audit Pricing: Evidence From China, Rui Zhang, Gaoliang Tian, Zichen Tian, Liuchuang Li

Research Collection School Of Accountancy

Purpose: This study aims to investigate whether mainland Chinese audit firms’ entry into the H-share market to provide audit services affects their mainland audit pricing. Design/methodology/approach: Using data on A-share listed companies in China from 2008 to 2018, a difference-in-differences model to test the research question is designed. Robustness tests are conducted to rule out alternative explanations and additional tests to shed light on the extent and inner workings of the main effect. Findings: The entry of mainland audit firms into the H-share audit market leads to a significant decrease in mainland audit pricing. Moreover, this main effect is (i) …

Do Commercial Ties Influence Esg Ratings? Evidence From Moody's And S&P, Xuanbo Li, Yun Lou, Liandong Zhang

Research Collection School Of Accountancy

We provide the first evidence that conflicts of interest arising from commercial ties lead to bias in environmental, social, and governance (ESG) ratings. Using the acquisitions of Vigeo Eiris and RobecoSAM by Moody's and S&P as shocks to the commercial ties between ESG rating agencies and their rated firms, we show that, after their acquisitions by the credit rating agencies (CRAs), ESG rating agencies issue higher ratings to existing paying clients of the CRAs. This effect is greater for firms that have more intensive business relationships with the CRAs, but weaker for firms with more transparent ESG disclosures or higher …

Liberalizing Home-Based Business, Sumit Agarwal, Tien Foo Sing, Changcheng Song, Jian Zhang

Research Collection Lee Kong Chian School Of Business

Working at home benefits entrepreneurs by lowering fixed costs and allowing them to engage in joint market and household production. We evaluate a large-scale reform in Singapore, the Home Office Scheme, that allowed business creation at one's residential property and study whether home-based entrepreneurship spurs entrepreneurial activities. The difference-in-differences estimate shows that the reform led to a significantly higher level of business creation and that the firms newly created in response to the reform had a higher survival rate. The effect is more pronounced for low-income female individuals and industries with high startup capital, implying that financial constraints and nonpecuniary …

Fomo And The Ico: The Changing Salience Of Quality Signals, Simon J.D. Schillebeeckx, Sandzhar Tazhibaev, Johannes Gartner

Research Collection Lee Kong Chian School Of Business

The manuscript investigates whether the individual personality trait, Fear of Missing Out (FOMO)—typically considered negative—influences the willingness of individuals to contribute to Initial Coin Offerings (ICOs), a phenomenon that emerged after the blockchain revolution. We conducted both qualitative and quantitative work in this space and present the results of an international survey, including a conjoint experiment. Theoretically, we anchor our study in signaling theory and propose that signal valence (the positive or negative interpretation of a signal) can diverge from signal intent. Specifically, we find that candidate ICO funders with strong FOMO behave predictably irrationally. They are more likely to …

Trust Building Across And Within Cultures: A Study Of Guinea, West Africa, And China, Hwee Hoon Tan, Xiushun Sun, Yue Wang

Research Collection Lee Kong Chian School Of Business

Adopting a cross-cultural perspective, this study provides insights into how Chinese multinational corporations (MNCs) with a focus on Confucian values, builds trust and contributes to the globalization process in African settings, specifically Guinea. Using a mixed-methods methodology, we explore the dynamics of trust relationships within and across cultures. In Study 1, semi-structured interviews were conducted with 19 Chinese supervisors, 20 Guinean supervisors and 19 Guinean workers. We found Chinese expatriates to emphasize ability and integrity in trust building while Guinean workers care more about benevolence. Drawing on the insights of study 1, we proposed a model of interpersonal trust within …

Flexible Vs. Dedicated Technology Choice In The Presence Of Multiproduct Subscription Programs, Liling Lu, Onur Boyabatli, Sarah Yini Gao

Research Collection Lee Kong Chian School Of Business

Recently, automotive manufacturers have started offering multi-car subscription programs that give customers access to a menu of car models with possibility of switching between the models. The maintenance and depreciation costs during the program are borne by the manufacturers before the cars are sold in the pre-owned market. This paper studies how offering such a subscription program shapes the firm’s flexible versus dedicated technology choice and capacity investment decisions. We consider a two-product firm that makes these decisions under uncertain demand in a single subscription period. The firm faces two types of demand based on which product is requested at …

An Integrative, Systematic Review Of The Situational Judgment Test Literature, Sven Kepes, Sheila K. Keener, Filip Lievens, Michael A. Mcdaniel

Research Collection Lee Kong Chian School Of Business

Situational judgment tests (SJTs) are popular assessment approaches that present scenarios describing situations that one may experience in a job. Due to its long history and cross-disciplinary nature, today’s SJT literature is quite fragmented. In this integrative review, we start by systematically taking stock and synthesizing the SJT literature from the different scientific disciplines via bibliometric techniques on 524 unique documents. We identify six literature clusters (i.e., SJTs in the medical sciences, SJTs in personnel selection, methodological issues and SJTs for specific constructs, SJTs to assess emotional intelligence and related constructs, technological advances in SJTs, SJTs for teacher assessment and …

Short-Term Personality Development And Early Career Success: Two Longitudinal Studies During The Post-Graduation Transition, Mary-Louise Hotze, Zihan Liu, Chu Chu, Erica Baranski, Kevin A. Hoff

Research Collection Lee Kong Chian School Of Business

Objective: Investigate short-term personality development during the post-graduation transition. Background: Prior research indicates that long-term personality development matters for employment outcomes. However, this evidence is primarily limited to multi-year longitudinal studies. This research switches the focus to personality changes during a shorter, impactful life transition. Method: We examined how short-term personality development during the 14-month post-graduation transition relates to early career outcomes among two diverse samples of graduates from universities (N = 816) and community colleges (N = 567). We used latent growth curve models to examine associations between career outcomes measured 14 months after graduation with initial personality levels …

Beyond Borders, Beyond Boundaries: How Globalization Affects Real Estate Prices, Ritu Mehlawat

Dissertations and Theses Collection (Open Access)

In this comprehensive study, we aim to investigate the impact of Globalisation on house prices globally. Our analysis spans annual data from 42 countries, including OECD and some Non-OECD countries, from 1991 to 2021. Our research underscores the role of Globalisation in shaping house prices, with distinct impacts contingent on the type of Globalisation. Financial globalisation, which primarily encompasses capital flow coupled with enabling regulatory environment, is one of the drivers of house price increases. Conversely, Interpersonal, and Informational globalisation, which mainly involves the physical or virtual proximity of people supported by favourable conditions, has a negative effect on house …

From Congestion To Connectivity, Shoeb Kagda

Asian Management Insights

Southeast Asia is betting on new urban transit systems to solve its urban gridlock problems.

Why Isn’T Formula 1 Going Electric?, Terry Van Gevelt

Asian Management Insights

Electric vehicles are not the only sustainable automotive option.

1. While electric vehicles (EVs) are marketed as ‘zero-emission’, their overall environmental impact and battery production all contribute to their lifecycle emissions. In fact, their widespread adoption needs significant infrastructural changes like installing new charging networks and upgrading power grids, which come with substantial environmental and financial costs.

2. Considering a diverse array of energy alternatives, including synthetic e-fuels, could offer Singapore a that is tailored to the specific needs and infrastructural realities of the country and region.

Politicians’ Green Incentives And External Auditing, Ole-Kristian Hope, Heng Yue, Qinlin Zhong

Research Collection School Of Accountancy

This paper examines whether and how politicians’ green incentives affect external auditing. Specifically, we investigate the effects of China’s Green Audit of Outgoing Officials (GAOO) policy, which directly links environmental performance to public officials’ promotions. Employing a DID approach, we observe a significant reduction in audit fees for high-polluting firms after the implementation of GAOO. The decrease is stronger among firms located in regions with departing public officials. We identify two channels driving this trend: (1) Auditors rely on public information generated from intensified governmental efforts, thereby economizing on their efforts (i.e., a substitution effect); (2) High-polluting firms improve their …

Ai And Creativity: Effects Of Culture And Task Emotiveness In Human-Ai Collaboration, Choon Ngee Tan

Dissertations and Theses Collection (Open Access)

Creativity is the driving force behind innovation, propelling individuals and societies toward progress by generating novel ideas and groundbreaking solutions. The emergence of generative AI models, exemplified by GPT-3, offers opportunities to enhance human creativity. This paper explores the potential for unprecedented breakthroughs through the synergy between human intuition and AI-driven creativity, providing practical guidance on leveraging AI to amplify creative capacities. Study 1 finds that AI models trained on data from the U.S. and Chinese cultures exhibit cultural norms, values and cognition of those cultures. Study 2 finds that when humans and AI models of the same culture collaborate …