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Articles 4681 - 4710 of 6939

Full-Text Articles in Business

Counterparty Responses To Managerial Overconfidence, Paul Hribar, Jaewoo Kim, Ryan Wilson, Holly I-Hwa Yang May 2012

Counterparty Responses To Managerial Overconfidence, Paul Hribar, Jaewoo Kim, Ryan Wilson, Holly I-Hwa Yang

Research Collection School Of Accountancy

Existing research links CEO personality traits to a number of corporate decisions including overinvestment, external acquisitions, and earnings management. These findings raise the question of whether counterparties distinguish between differences in individual CEO behavior, and how they respond to it. We focus on two key counterparties – auditors and credit rating agencies – and examine whether audit fees and credit ratings are affected by CEO overconfidence. We find a positive association between audit fees and CEO overconfidence, suggesting that auditors exert more effort or increase the risk premium associated with auditing firms with more overconfident CEOs. We also find a …

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In Search Of A Different Accounting Graduate: Entry-Point Determinants Of Students’ Performance In An Undergraduate Accountancy Degree Programme In Singapore, Poh Sun Seow, Gary Pan, Joanne Tay May 2012

In Search Of A Different Accounting Graduate: Entry-Point Determinants Of Students’ Performance In An Undergraduate Accountancy Degree Programme In Singapore, Poh Sun Seow, Gary Pan, Joanne Tay

Research Collection School Of Accountancy

This study investigates the association of prior academic achievement, admission interview, critical thinking, mathematical aptitude, gender and age with successful academic performance in an undergraduate accountancy degree programme at a Singapore university. The purpose of revisiting the determinants of academic performance is twofold: firstly, university accounting education in Singapore has changed greatly since Koh and Koh’s earlier study (1999), so this study examines if determinants previously identified as significant continue to be so in the new setting; secondly, the study tests the usefulness of admission interview in identifying applicants who achieve subsequent academic success. All the data on students’ performance …

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Information Systems Procurement Process Risk And Control: Insights From A Public Sector Organization, Shan Chi Gary Pan, Manjari Mehta, Poh Sun Seow May 2012

Information Systems Procurement Process Risk And Control: Insights From A Public Sector Organization, Shan Chi Gary Pan, Manjari Mehta, Poh Sun Seow

Research Collection School Of Accountancy

This case highlights the specific risks and issues that may be encountered in the information systems (IS) procurement process in a country where bribery and corruption are more common. PSO is a large Indian public sector organization involved in energy-related business. Being financially deprived, PSO relied on government funding to build its infrastructures. Besides the funding support, PSO also inherited the bureaucratic structure and the corruption practices. Lately, PSO was involved in several IS infrastructure and applications upgrading projects and wanted to review its IS procurement process. Does PSO understand the process risks in public IS procurement? Does PSO have …

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Asia In The Middle East: The Internationalization Of Singapore Private Firms Into The Gcc, Caroline Yeoh, Wilfred How, Sharmaine Si Min Neo May 2012

Asia In The Middle East: The Internationalization Of Singapore Private Firms Into The Gcc, Caroline Yeoh, Wilfred How, Sharmaine Si Min Neo

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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Outlet Patronage In On-The-Go Consumption: An Analysis Of Patronage Preference Drivers For Convenience Outlets Versus Traditional Retail Outlets, Raphael Heider, Sabine Benoit May 2012

Outlet Patronage In On-The-Go Consumption: An Analysis Of Patronage Preference Drivers For Convenience Outlets Versus Traditional Retail Outlets, Raphael Heider, Sabine Benoit

Research Collection Lee Kong Chian School Of Business

This study investigates patronage preferences of consumers who purchase and consume food and beverages while they are on-the-go (on-the-go consumption). The focus is on the drivers of patronage preferences for convenience outlets versus traditional retail outlets. A literature based model of patronage preferences is developed in this paper. It is tested based on data collected from a Dutch online sample (n=669) through binary logistic regression. The results reveal that significant relationships exist between patronage preferences in on-the-go consumption and the assortment offered as well as the opportunity to consume products without effort. Moreover, significant relationships between patronage preferences and consumers' …

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Geographic Proximity Between Auditor And Client: How Does It Impact Audit Quality?, Jong-Hag Choi, Jeong-Bon Kim, Aini Qiu, Yoonseok Zang May 2012

Geographic Proximity Between Auditor And Client: How Does It Impact Audit Quality?, Jong-Hag Choi, Jeong-Bon Kim, Aini Qiu, Yoonseok Zang

Research Collection School Of Accountancy

Using a large sample of audit client firms, this paper investigates whether and how the geographic proximity between auditor and client affects audit quality proxied by accrual-based earnings quality. We define an auditor as a local auditor (1) if the auditor’s practicing office is located in the same metropolitan statistical area (MSA) as the client's headquarters and (2) if the geographic distance between the two cities where the auditor’s practicing office and the client’s headquarters are located is within 100 kilometers or they are in the same MSA. As predicted, our empirical results are consistent with local auditors providing higher-quality …

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Global Warming, Extreme Weather Events, And Forecasting Tropical Cyclones: A Market-Based Forward-Looking Approach, Carolyn W. Chang, Jack S. K. Chang, Kian Guan Lim May 2012

Global Warming, Extreme Weather Events, And Forecasting Tropical Cyclones: A Market-Based Forward-Looking Approach, Carolyn W. Chang, Jack S. K. Chang, Kian Guan Lim

Research Collection Lee Kong Chian School Of Business

Global warming has more than doubled the likelihood of extreme weather events, e.g. the 2003 European heat wave, the growing intensity of rain and snow in the Northern Hemisphere, and the increasing risk of flooding in the United Kingdom. It has also induced an increasing number of deadly tropical cyclones with a continuing trend. Many individual meteorological dynamic simulations and statistical models are available for forecasting hurricanes but they neither forecast well hurricane intensity nor produce clear-cut consensus. We develop a novel hurricane forecasting model by straddling two seemingly unrelated disciplines — physical science and finance — based on the …

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Out Of Sight, Out Of Mind: The Value Of Political Connections In Social Networks, Quoc-Anh Do, Yen Teik Lee, Bang Dang Nguyen, Kieu-Trang Nguyen May 2012

Out Of Sight, Out Of Mind: The Value Of Political Connections In Social Networks, Quoc-Anh Do, Yen Teik Lee, Bang Dang Nguyen, Kieu-Trang Nguyen

Research Collection School Of Economics

This paper investigates the impact of social-network based political connections on firm value. We focus on the networks of university classmates and alumni among directors of U.S. public firms and congressmen. Comparing firms connected to elected versus defeated politicians in the Regression Discontinuity Design of close elections from 2000 to 2008, we provide evidence that political connections enhance firm value. However, the value of political connections varies in a more complex way than expected. While connections to powerful members of the Senate generate strong positive impact on firm value, connections to newly elected congressmen are less valuable to firms than …

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Off The Cliff And Back? Credit Conditions And International Trade During The Global Financial Crisis, Davin Chor, Manova Kalina May 2012

Off The Cliff And Back? Credit Conditions And International Trade During The Global Financial Crisis, Davin Chor, Manova Kalina

Research Collection School Of Economics

We examine the collapse of international trade flows during the 2008-2009 global financial crisis using detailed data on the evolution of monthly U.S. imports over the November 2006 - April 2009 period. We show that credit constraints and the reduction in the availability of external capital were an important channel through which the crisis affected trade volumes. We identify the effects of credit tightening by exploiting the variation in the cost of capital across countries and over time, as well as the variation in financial dependence across sectors. We find that countries with higher interbank interest rates and thus tighter …

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Internationalization Into The Gcc: Singapore In Retrospect, Caroline Yeoh, Wilfred Pow Ngee How, Hong Hao Chong May 2012

Internationalization Into The Gcc: Singapore In Retrospect, Caroline Yeoh, Wilfred Pow Ngee How, Hong Hao Chong

Research Collection Lee Kong Chian School Of Business

As internationalization becomes, increasingly, the chosen method of (ironically) competing for competitiveness among firms, new and rich frontiers for business come into ever-expanding demand. Among the foremost of these frontiers, the countries of the GCC represent both fertile ground and uncharted waters for internationalizing firms, with cultures as rich as their markets and sometimes byzantine yet fascinating socio-political forces presenting a plethora of challenges to erstwhile investing firms. As a culmination of our research into this region over past years, then, we examine in this paper, as a case study of sorts, the experiences of Singapore firms in the various …

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More Than Just The Mean: Moving To A Dynamic View Of The Performance-Based Compensation, Christopher M. Barnes, Jochen Reb, Dionysius Ang May 2012

More Than Just The Mean: Moving To A Dynamic View Of The Performance-Based Compensation, Christopher M. Barnes, Jochen Reb, Dionysius Ang

Research Collection Lee Kong Chian School Of Business

Compensation decisions have important consequences for employees and organizations and affect factors such as retention, motivation, and recruitment. Past research has primarily focused on mean performance as a predictor of compensation, promoting the implicit assumption that alternative aspects of dynamic performance are not relevant. To address this gap in the literature, we examined the influence of dynamic performance characteristics on compensation decisions in the National Basketball Association (NBA). We predicted that, in addition to performance mean, performance trend and variability would also affect compensation decisions. Results revealed that performance mean and trend, but not variability, were significantly and positively related …

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Wage-Vacancy Contracts And Coordination Frictions, Nicolas L. Jacquet, Serene Tan May 2012

Wage-Vacancy Contracts And Coordination Frictions, Nicolas L. Jacquet, Serene Tan

Research Collection School Of Economics

We consider a directed search model with risk-averse workers and risk-neutral entrepreneurs who can set up firms that post wage-vacancy contracts, i.e., contracts where firms can make payments to more than one applicant, and where the payments can be different for each applicant and be contingent on the number of applicants. We establish that the type of contracts the literature focuses on are not offered if firms can post wage-vacancy contracts. We show that there exists an equilibrium satisfying a Monotonic Expected Utility property which is efficient. Furthermore, we investigate the role of wage-vacancy contracts on welfare and competition.

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Towards Interactive, Internet-Based Decision Aid For Vaccination Decisions: Better Information Alone Is Not Enough, Terry Connolly, Jochen Reb May 2012

Towards Interactive, Internet-Based Decision Aid For Vaccination Decisions: Better Information Alone Is Not Enough, Terry Connolly, Jochen Reb

Research Collection Lee Kong Chian School Of Business

Vaccination decisions, as in choosing whether or not to immunize one's small child against specific diseases, are both psychologically and computationally complex. The psychological complexities have been extensively studied, often in the context of shaping convincing or persuasive messages that will encourage parents to vaccinate their children. The computational complexity of the decision has been less noted. However, even if the parent has access to neutral, accurate, credible information on vaccination risks and benefits, he or she can easily be overwhelmed by the task of combining this information into a well-reasoned decision. We argue here that the Internet, in addition …

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Pamr: Passive-Aggressive Mean Reversion Strategy For Portfolio Selection, Bin Li, Peilin Zhao, Steven C. H. Hoi, Vivekanand Gopalkrishnan May 2012

Pamr: Passive-Aggressive Mean Reversion Strategy For Portfolio Selection, Bin Li, Peilin Zhao, Steven C. H. Hoi, Vivekanand Gopalkrishnan

Research Collection School Of Computing and Information Systems

This project proposes a novel online portfolio selection strategy named ``Passive Aggressive Mean Reversion" (PAMR). Unlike traditional trend following approaches, the proposed approach relies upon the mean reversion relation of financial markets. Equipped with online passive aggressive learning technique from machine learning, the proposed portfolio selection strategy can effectively exploit the mean reversion property of markets. By analyzing PAMR's update scheme, we find that it nicely trades off between portfolio return and volatility risk and reflects the mean reversion trading principle. We also present several variants of PAMR algorithm, including a mixture algorithm which mixes PAMR and other strategies. We …

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From Boardroom To Parliament, Singapore Management University Apr 2012

From Boardroom To Parliament, Singapore Management University

Perspectives@SMU

Everyone has different motivations for working, . But the primary incentive for slogging it out in the corporate jungle would be money— at least that is what employers believe. This helps explain why companies are often willing to shell out wads of cash to outbid one another in the labour market for top executives.

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An Inside Job: To Get On The Right Career Track, Look Within, Knowledge@Smu Apr 2012

An Inside Job: To Get On The Right Career Track, Look Within, Knowledge@Smu

Knowledge@SMU

While some people may claim to work solely for the money, research has shown 'self-concept' to be an important but often overlooked consideration when choosing between jobs. An out-of-work investment banker may fail to consider 'analyst' positions due to perceptions of job prestige. Similarly, gender stereotypes may prevent a female civil engineering student from considering a career in construction. Speaking at a Behavioural Sciences Institute seminar, Serena Wee, an assistant professor of psychology at SMU, drew links between job seeking behaviours and concepts of identity.

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From Boardroom To Parliament, Knowledge@Smu Apr 2012

From Boardroom To Parliament, Knowledge@Smu

Knowledge@SMU

The benefits of state-owned enterprises are well known: cheap loans, favourable policies and little competition. Because of the perks they enjoy, these companies have often been criticised for not being hungry enough to maximise firm value, especially when their CEOs are not as well paid as those in the private sector. There is proof now that competition in the political job market helps mitigate the weak monetary incentives for CEOs in China. Interestingly, this means that state control and political connections may not be inconsistent with economic pursuits.

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Creativity Meets Cash: An Unlikely Pair?, Knowledge@Smu Apr 2012

Creativity Meets Cash: An Unlikely Pair?, Knowledge@Smu

Knowledge@SMU

There has long been a perception that creativity and money are somewhat opposed to one another. Profitable artists are sometimes seen as sell-outs while risk-averse corporations are seldom regarded as centres of creativity. Yet, for survival, businesses need to be creative and the creative-types need to eat. In the book, Brainfruit: Turning creativity into cash from East to West, authors Hugh Mason and SMU associate professor Mark Chong provide a slew of practical ideas for anyone aspiring to build or understand the business of creativity.

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Knowledge As A Driver Of Growth And Development In Asia, Knowledge@Smu Apr 2012

Knowledge As A Driver Of Growth And Development In Asia, Knowledge@Smu

Knowledge@SMU

Many Asian economies are in the process of transitioning from an industrial-led growth model to a more knowledge-based one. While some have seen greater success than others, several challenges have arisen in recent years, in particular, with rapid advancements in information-communications technology. These changes are discussed in 'Beyond the Knowledge Trap: Developing Asia's Knowledge-based Economies', a book that presents a range of studies to show how Asian countries are adapting and addressing some of the new issues brought about by changes within a more complex and globalised environment.

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Auditor Reporting Under Section 404: The Association Between The Internal Control And Going Concern Audit Opinions, Beng Wee Goh Apr 2012

Auditor Reporting Under Section 404: The Association Between The Internal Control And Going Concern Audit Opinions, Beng Wee Goh

Research Collection School Of Accountancy

Section 404 of the Sarbanes-Oxley Act introduced integrated audits of internal control over financial reporting and the financial statements. Since the internal control and audit reports are joint products of the audit process, we examine whether the issuance of an internal control material weakness opinion (MWO) influences, other things equal, the issuance of a going concern audit opinion (GCO). Using a sample of financially stressed companies, we find that the issuance of a MWO increases the likelihood of a GCO, suggesting that auditors respond to the uncertainty surrounding a MWO by issuing a GCO. Further, the positive association between MWO …

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Guidance Frequency And Guidance Properties: The Effect Of Reputation-Building And Learning-By-Doing, Sanjeev Bhojraj, Robert Libby, Holly I. Yang Apr 2012

Guidance Frequency And Guidance Properties: The Effect Of Reputation-Building And Learning-By-Doing, Sanjeev Bhojraj, Robert Libby, Holly I. Yang

Research Collection School Of Accountancy

Different firms issue earnings guidance at dramatically different rates. We suggest that frequent guiders more likely represent a type of firm that is attempting to develop a reputation for enhanced disclosures through their guidance issuances. Furthermore, the desire to build a reputation and the opportunities to learn provided by issuing more frequent guidance should translate into frequent guiders providing higher quality guidance than occasional guiders. We examine our hypotheses in three stages. First, we find that guidance frequency is positively correlated with variables associated with reputation with capital market participants and reputation in product and labor markets. Second, our cross-sectional …

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On The Value Relevance Of Retailer Advertising Spending And Same-Store Sales Growth, Kapil R. Tuli, Anirban Mukherjee, Marnik Dekimpe Apr 2012

On The Value Relevance Of Retailer Advertising Spending And Same-Store Sales Growth, Kapil R. Tuli, Anirban Mukherjee, Marnik Dekimpe

Research Collection Lee Kong Chian School Of Business

In response to recent calls to study factors that determine a retailer's stock price, this study draws on signaling theory to examine the impact of two key marketing metrics that are widely disclosed by retailers to investors, advertising spending and growth in same-store sales (COMPS), and highlights the moderating role of various firm- and sector-specific factors. Using a stock-response model estimated on a sample of 1,646 observations for 257 retailers, the authors find that the value relevance of advertising spending and COMPS depends on the financial condition of, and the competitive pressures faced by, the retailer. In addition, the positive …

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Finding The Right Mix: How The Composition Of Self-Managing Multicultural Teams' Cultural Value Orientation Influences Performance Over Time, Chi-Ying Cheng, Roy Y. J. Chua, Michael W. Morris, Leonard Lee Apr 2012

Finding The Right Mix: How The Composition Of Self-Managing Multicultural Teams' Cultural Value Orientation Influences Performance Over Time, Chi-Ying Cheng, Roy Y. J. Chua, Michael W. Morris, Leonard Lee

Research Collection Lee Kong Chian School Of Business

This research investigates a new type of team that is becoming prevalent in global work settings, namely self-managing multicultural teams. We argue that challenges that arise from cultural diversity in teams are exacerbated when teams are leaderless, undermining performance. A longitudinal study of multicultural master of business administration study teams found that in the early stage of team formation, teams with a low average level of, but moderate degree of variance in, uncertainty avoidance performed best. Four months post formation, however, teams with a high average level of relationship orientation performed better than teams with a low average level of …

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Crisis Response Information Networks, Shan L. Pan, Gary Pan, Dorothy E. Leidner Apr 2012

Crisis Response Information Networks, Shan L. Pan, Gary Pan, Dorothy E. Leidner

Research Collection School Of Accountancy

In the past two decades, organizational scholars have focused significant attention on how organizations manage crises. While most of these studies concentrate on crisis prevention, there is a growing emphasis on crisis response. Because information that is critical to crisis response may become outdated as crisis conditions change, crisis response research recognizes that the management of information flows and networks is critical to crisis response. Yet despite its importance, little is known about the various types of crisis information networks and the role of IT in enabling these information networks. Employing concepts from information flow and social network theories, this …

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Environmental Influences: Reflections On The Globalization Of Management Education, Arnoud De Meyer Apr 2012

Environmental Influences: Reflections On The Globalization Of Management Education, Arnoud De Meyer

Research Collection Lee Kong Chian School Of Business

Globalization of management education seems to have become the natural way to go for management and business schools. Almost every week one can find in the specialized press another announcement about an overseas campus, a new international partnership or a major research tie up. But announcing an international venture is easy, implementing is the challenge. The purpose of this paper is to provide some advice on how to implement globalization. This paper is based of the author's own experience with INSEAD, the University of Cambridge and Singapore Management University, as well as his observations of many other business schools. It …

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The Recruiting And Hiring Of Older Workers, Filip Lievens, Van Hoye Greet, Hannes Zacher Apr 2012

The Recruiting And Hiring Of Older Workers, Filip Lievens, Van Hoye Greet, Hannes Zacher

Research Collection Lee Kong Chian School Of Business

Abstract This chapter reviews five key components,of the recruitment process with regard to an aging workforce. First, targeted recruitment entails that organizations understand the needs, preferences, and strengths of older workers. Second, the recruitment message should communicate job and organizational characteristics that are attractive to older jobseekers. Third, the recruitment source should be consistent with the media useand job search behaviors of older jobseekers. Fourth, the characteristics and behaviors of recruiters play an essential role in the recruitment of older applicants. Finally, organizations need to convey an attractive image of themselves as employers for older workers. Throughout the chapter, best …

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Importance Of Corporate Reputation, Mark Chong Apr 2012

Importance Of Corporate Reputation, Mark Chong

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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Global Financial Risks, Cvar And Contagion Management, Kian Guan Lim Apr 2012

Global Financial Risks, Cvar And Contagion Management, Kian Guan Lim

Research Collection Lee Kong Chian School Of Business

The September 2008 collapse of Lehman Brothers was the 9/11 on Wall Street, and many articles had been written on the changes in the global risk landscape that followed. However, there is scarcity of rigorous studies using empirical data and advanced econometric methods to verify such a change and the nature of such a change. In this paper, we provide rigorous analyses of statistically significant changes in global financial risks and sharp increases in conditional Value-at-Risk after September 2008. We perform statistical analyses using conditional distributions on the tail losses of equity portfolios constructed from the stock indexes of six …

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Evaluation Of Different Electronic Product Code Discovery Service Models, Su Mon Kywe, Jie Shi, Yingjiu Li, Raghuwanshi Kailash Apr 2012

Evaluation Of Different Electronic Product Code Discovery Service Models, Su Mon Kywe, Jie Shi, Yingjiu Li, Raghuwanshi Kailash

Research Collection School Of Computing and Information Systems

Electronic Product Code Discovery Service (EPCDS) is an important concept in supply chain processes and in Internet of Things (IOT). It allows supply chain participants to search for their partners, communicate with them and share product information using standardized interfaces securely. Many researchers have been proposing different EPCDS models, considering different requirements. In this paper, we describe existing architecture designs of EPCDS systems, namely Directory Service Model, Query Relay Model and Aggregating Discovery Service Model (ADS). We also briefly mention Secure Discovery Service (SecDS) Model, which is an improved version of Directory Service Model with a secure attribute-based access control …

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Hedge Fund Return Correlation Under Extreme Market Condition, Melvyn Teo Mar 2012

Hedge Fund Return Correlation Under Extreme Market Condition, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

How dependent are returns across hedge fund investment strategies? We estimate the probability that each investment strategy performs poorly when other investment strategies are delivering extreme negative returns. Under extreme market conditions, we find that event driven, distressed debt, and equity long/short funds exhibit the highest correlation with other styles while commodity trading advisors, macro, and equity market neutral funds exhibit the lowest correlation. In addition, we show that Asia-focused event driven and equity market neutral funds provide diversification for investors holding US- and Europe-focused funds.

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