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Full-Text Articles in Business

Social Incubators: A Place For Changemakers To Call Home, Jared Tham Jan 2012

Social Incubators: A Place For Changemakers To Call Home, Jared Tham

Social Space

While business incubators are an integral component of the startup ecosystem—by providing a space between the ideation stage and the point where investors are willing to commit funds— Jared Tham finds a dearth of similar structures in the non-profit sector to support fledgling social enterprises and social sector organisations.

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The Promise And Challenge Of Ecotourism, Biqi Wu Jan 2012

The Promise And Challenge Of Ecotourism, Biqi Wu

Social Space

The following article is adapted from an ecotourism case study conducted by Wu Biqi. It was supported by the Lien Centre and supervised by Associate Professor John Donaldson of the School of Social Sciences at the Singapore Management University.

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Financial Literacy And Numerical Ability: Keys To Better Mortgage Outcomes, Knowledge@Smu Jan 2012

Financial Literacy And Numerical Ability: Keys To Better Mortgage Outcomes, Knowledge@Smu

Knowledge@SMU

The US mortgage crisis and its dire after effects have highlighted the criticality of financial literacy. And while most people would have picked up fundamental mathematical principles in schools, not everyone appreciates how arithmetic translates within the complex world of finance. Yet, given what has transpired with the subprime crisis, is it important for borrowers to appreciate complicated financial concepts before taking up a loan? A study of the US mortgage market, presented at a SMU School of Economics Seminar Series, provides some clues as it uncovers links between basic numerical skills and financial fate.

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

Information Systems Procurement Process Risk And Control: Insights From A Public Sector Organization, 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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Assessing The Valuation And Risk Implications Of Fair Value Accounting For Liabilities: Evidence From Fas 159'S Reported Gains And Losses, Sung Gon Chung, Gerald Lobo, Kevin Ow Yong Jan 2012

Assessing The Valuation And Risk Implications Of Fair Value Accounting For Liabilities: Evidence From Fas 159'S Reported Gains And Losses, Sung Gon Chung, Gerald Lobo, Kevin Ow Yong

Research Collection School Of Accountancy

This study examines the implications of fair value liability gains and losses arising from the adoption of Statement of Financial Accounting Standards No. 159 (hereafter FAS 159). We find a positive correspondence between a firm’s FAS 159 fair value liability gains and losses and stock returns. Further analysis indicates that fair value gains and losses from liabilities attributable to the change in a firm’s own credit risk, which are considered counter-intuitive by critics of fair value accounting for liabilities, are also positively related to returns. Lastly, we document that the volatility of earnings that incorporate FAS 159 liability fair value …

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An Analytical And Empirical Measure Of The Degree Of Conditional Conservatism, Dan Segal, Jeffrey L. Callen Jan 2012

An Analytical And Empirical Measure Of The Degree Of Conditional Conservatism, Dan Segal, Jeffrey L. Callen

Research Collection School Of Accountancy

There is a profound gap between models of accounting conservatism and the proxies for conditional conservatism currently used by the empirical literature. Not one of the proxies employed by the empirical literature to date obtains from a rigorous definition of conditional conservatism. In contrast, this study defines conditional conservatism in terms of truncated distributions and derives analytically a nonlinear relation between revisions to returns and earnings news for the conservative firm. This nonlinear relation is shown to be mathematically equivalent to two linear relations conditioned on the firm's degree of conservatism. From these relations, we derive a model-based proxy of …

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Technical Analysis: An Asian Perspective, Siqin Liaw Jan 2012

Technical Analysis: An Asian Perspective, Siqin Liaw

Dissertations and Theses Collection (Open Access)

Technical analysis, namely the moving average rule and the channel rule, is applied to the currency of an Asian managed floating exchange rate regime (USD/SGD) to see if opportunities for profitable trading exist. Instead of using only daily or monthly data, higher frequency time frames of 10, 15, 30 and 60 minutes are analyzed. Profitable strategies (if any) will be broken down and analyzed within smaller time frames to see if the profits are specifically in sample.

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Go Niche Or Go Home: Influence Maximization In The Presence Of Strong Opponent, Long Foong Liow Jan 2012

Go Niche Or Go Home: Influence Maximization In The Presence Of Strong Opponent, Long Foong Liow

Dissertations and Theses Collection (Open Access)

In hotly contested product categories dominated by a few powerful firms, it is quite common for weaker or late entrants to focus only on particular segments of the whole market. The rationale for such strategy is intuitive: to avoid direct confrontation with heavy-weight firms, and to concentrate in segments where these weaker firms have comparative advantages. In marketing, this is what people called “go niche or go home”. The niche-building strategy may rely on “homophily”, which implies that consumers in a particular market segment might possess certain set of attributes that cause them to appreciate certain products better (in other …

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The Impact Of University Patenting On Mobility Of Scientists, Xi Ye Jan 2012

The Impact Of University Patenting On Mobility Of Scientists, Xi Ye

Dissertations and Theses Collection (Open Access)

After the passage of Bayh-Dole Act, universities have been actively involved in patenting. At the same time, the booming of university patenting has brought up huge controversies and debates in academia. A large body of literature is devoted, from a broad macro-level view, to investigate the impact of intellectual property rights (IPR) on the research activities of universities. However, very few empirical studies have been conducted to study the impact of university patenting on the mobility of individuals who have been granted these patents. This study, aiming to provide a different insight to the extant literature, employs data from U.S. …

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The Impact Of Perceived Csr On Employee Performance And Turnover Intention: An Examination Of The Mediating Effect Of Organizational Justice And Organization-Based Self-Esteem, Alicia Ting Shiun Ho Jan 2012

The Impact Of Perceived Csr On Employee Performance And Turnover Intention: An Examination Of The Mediating Effect Of Organizational Justice And Organization-Based Self-Esteem, Alicia Ting Shiun Ho

Dissertations and Theses Collection (Open Access)

Research on corporate social responsibility (CSR) has spanned across a few decades and in various fields. Yet only a handful of academic studies have investigated the relationship between CSR and a commonly neglected stakeholder – the employees. The employees are an essential part of the organization and will be highly influenced by the CSR initiatives carried out by the organization. In my paper, I intend to bridge the gap between CSR and the employee. A theoretical model is presented to show how employees' perception of CSR subsequently impacts their performance and turnover intentions, mediated by organizational justice and organization-based self-esteem. …

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Testing Overreaction And Under-Reaction In The Commodity Futures Market, Jingyu Dai Jan 2012

Testing Overreaction And Under-Reaction In The Commodity Futures Market, Jingyu Dai

Dissertations and Theses Collection (Open Access)

Results from previous studies testing for under-reaction and overreaction in the commodity futures market are mixed and inconclusive. Using a data of more than 20 categories of future contacts ranging from agricultural, metal and energy, we have found significant evidence of under-reaction in food and agricultural commodities but not in the energy and metal sector. It is also found that those relatively inactive commodity future contracts tend to have a stronger tendency to under-react than commodity future contracts are very actively traded. The result also agrees with the behavioral hypothesis that under-reaction is caused by gradual incorporation of information among …

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Accounting Flexibility And Managers’ Forecast Behavior Prior To Seasoned Equity Offerings, Jae Bum Kim Jan 2012

Accounting Flexibility And Managers’ Forecast Behavior Prior To Seasoned Equity Offerings, Jae Bum Kim

Research Collection School Of Accountancy

This study examines the effect of accounting flexibility on managers’ forecasting behavior prior to seasoned equity offerings(SEO). While SEO firms have strong incentives to convey optimistic information to boost the pre-SEO stock price, they also face enhanced litigation risk arising from SEO-related regulations. Thus, I hypothesize that managers of SEO firms will release optimistic forecasts prior to an SEO only if they have the accounting flexibility to manage subsequent reported earnings to meet or exceed their forecasts. I find that managers with greater accounting flexibility are more likely to issue a forecast prior to the SEO and their forecasts are …

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Independent Financial Advisers’ Opinions For Public Takeovers And Related Party Transactions In Singapore, Wai Yee Wan Jan 2012

Independent Financial Advisers’ Opinions For Public Takeovers And Related Party Transactions In Singapore, Wai Yee Wan

Research Collection Yong Pung How School Of Law

This article examines the role and utility of opinions (IFA opinions) rendered by independent financial advisers (IFAs), who are required to be appointed in connection with takeovers of, and related party transactions entered into by, companies which are listed in Singapore. Three main problems are identified: (1) data from 122 IFA opinions issued between 2008 and 2010 in connection with takeover offers of Singapore-listed companies show that there are a significant number of IFAs who do not use the standard of “fair and reasonable” in assessing offers and instead use tests that are more equivocal, rendering the opinions less helpful; …

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The Impact Of The Anti-Predatory Lending Laws On Mortgage Volume, Hyun Soo Choi Jan 2012

The Impact Of The Anti-Predatory Lending Laws On Mortgage Volume, Hyun Soo Choi

Research Collection Lee Kong Chian School Of Business

In this paper, I test the hypothesis that anti-predatory lending laws inhibited the volume of mortgage lending during the housing-bubble period. I use cross-state variation in the strictness of these laws and their application only to mortgage refinancing as opposed to home purchases to develop a difference-in-difference estimate of the impact of these laws on mortgage volume. Consistent with my hypothesis, I find that states with stricter laws had lower mortgage refinancing volume but exhibited no difference in home purchase mortgage volume. I also test whether by restricting mortgage refinancing, these laws impacted household expenditures and find that the laws …

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Pushing The Learning Curve Of Public Relations In Asia, Jurrien Gregor Halff Jan 2012

Pushing The Learning Curve Of Public Relations In Asia, Jurrien Gregor Halff

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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Envy As Pain: Rethinking The Nature Of Envy And Its Implications For Employees And Organizations, Kenneth Tai, Jayanth Narayanan, Daniel J. Mcallister Jan 2012

Envy As Pain: Rethinking The Nature Of Envy And Its Implications For Employees And Organizations, Kenneth Tai, Jayanth Narayanan, Daniel J. Mcallister

Research Collection Lee Kong Chian School Of Business

Although envy has been characterized by resentment, hostility, and ill will, researchers have begun to investigate envy's benign manifestations. We contend that the substance of envy has been confounded with its consequences. We conceptualize envy as pain at another's good fortune. This reconceptualization allows envy to result in both positive and negative consequences. We then examine how envy affects interpersonal behaviors and job performance, contingent on core self-evaluation, referent cognitions, and perceived organizational support.

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Are You My Mentor? Informal Mentoring Mutual Identification, Elizabeth T. Welsh, Devasheesh P. Bhave, Kyoung Yong Kim Jan 2012

Are You My Mentor? Informal Mentoring Mutual Identification, Elizabeth T. Welsh, Devasheesh P. Bhave, Kyoung Yong Kim

Research Collection Lee Kong Chian School Of Business

The purpose of this study is to understand the extent to which potential mentors and protégés agree that an informal mentoring relationship exists. Because these relationships are generally tacitly understood, either the mentor or protégé could perceive that there is a mentoring relationship when the other person does not agree. Whether gender affects this is also to be examined. Individuals were asked to identify their mentoring partners. Each report of a partner was then compared to the partner's list to determine whether there was a match (i.e. both reported the relationship as an informal mentoring relationship) or a mismatch (i.e. …

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The Legitimacy Of The Business Of Business Schools: What's The Future?, David C. Wilson, Howard Thomas Jan 2012

The Legitimacy Of The Business Of Business Schools: What's The Future?, David C. Wilson, Howard Thomas

Research Collection Lee Kong Chian School Of Business

The purpose of this paper is to examine some challenges facing business schools and their continued legitimacy. Particular attention is paid to the problems of accreditation, regulation and rankings and how these constrain strategic choice. The paper builds on existing literature to provide an analytical overview of the challenges currently facing business schools. The paper assesses the current context of business schools and assesses to what extent they are becoming less relevant both in terms of practice and theories. It suggests changes business schools might make in order to increase relevance. The paper suggests that business schools should change their …

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Business Schools In Transition? Issues Of Impact, Legitimacy, Capabilities And Re-Invention, Howard Thomas, Eric Cornuel Jan 2012

Business Schools In Transition? Issues Of Impact, Legitimacy, Capabilities And Re-Invention, Howard Thomas, Eric Cornuel

Research Collection Lee Kong Chian School Of Business

The purpose of this editorial is to introduce the set of papers which comprise this issue of the journal, and to provide an interpretation of the current strategic debates about the future evolution of business school paradigms and, hence, identify possible strategic options. The papers can be categorized into three broad themes: first, the impacts and environmental influences on management education including issues of globalization, global sustainability and advances in digital and social media. Second, challenges and criticisms of management education covering issues of legitimacy, business model sustainability and the need for change in business models. Third, the re-invention of …

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A Sustainable Model For Business Schools, Howard Thomas, Kai Peters Jan 2012

A Sustainable Model For Business Schools, Howard Thomas, Kai Peters

Research Collection Lee Kong Chian School Of Business

The purpose of this paper is to provide insight into the financial models used by business schools, with a specific focus on the cost side of the model. The paper systematically looks at sources of revenue and areas of expenditure under different business school models. The paper finds that the faculty model used by many business schools, with the need to devote significant effort to generate academic publications, is very cost intensive and not efficient. The paper suggests that alternative models can be developed which would make business schools more financially sustainable. While there has been a lot of societal …

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What Is The European Management School Model?, Howard Thomas Jan 2012

What Is The European Management School Model?, Howard Thomas

Research Collection Lee Kong Chian School Of Business

The article discusses the important role of the European Foundation of Management Development (EFMD) in positioning and influencing business schools in Europe. It highlights the effort of the organization in ensuring internationalization and corporate link to high quality management education in business schools. It also mentions the success of the European management schools in emphasizing international character and being agents in the transformation of management education.

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The Role Of Accounting Conservatism In Firms' Financial Decisions, Jimmy Kiat Bee Lee Jan 2012

The Role Of Accounting Conservatism In Firms' Financial Decisions, Jimmy Kiat Bee Lee

Research Collection School Of Accountancy

This paper investigates whether financial reporting conservatism is related to firms’ financial flexibility and their access to capital. If conservatism facilitates monitoring and governance by capital providers, they should be more willing to extend financing and increase firms’ access to capital. However, because conservatism leads to systematic understatement of net worth and weakens the appearance of firms’ balance sheet strength, it could also reduce firms’ access to capital. This study tests these two opposing views of the relationship between conservatism and firms’ financial flexibility. Results indicate that firms with greater reporting conservatism exhibit less flexibility in their corporate liquidity management, …

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Online Consumer Complaint Behaviors: The Dynamics Of Service Failures, Consumers' Word Of Mouth, And Organization-Consumer Relationships, Seung B. Bach, Soojin Kim Jan 2012

Online Consumer Complaint Behaviors: The Dynamics Of Service Failures, Consumers' Word Of Mouth, And Organization-Consumer Relationships, Seung B. Bach, Soojin Kim

Research Collection Lee Kong Chian School Of Business

This study aims to provide an understanding of the relationships between consumer's negative word of mouth (WOM) and organizations' rectification behaviors. We see consumers' negative WOM as a process of problem solving when consumers encounter an organization's service failure that dissatisfies them. This study suggests a strategic management of public relations as a principle for consumer complaint management. Based on case studies, this study finds that negative WOM is formed by the dynamics of experience sharing, advice giving, agreement, and disagreement. In particular, we discovered that information sharing is predominant among negative WOM behaviors. Finally, the case study reveals that …

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Investor Sentiment, Disagreement, And The Breadth Return Relationship, Hai Lu, Ling Cen, Liyan Yang Jan 2012

Investor Sentiment, Disagreement, And The Breadth Return Relationship, Hai Lu, Ling Cen, Liyan Yang

Research Collection School Of Accountancy

We extend the theory and empirics in Chen, Hong, and Stein (2002) by assuming that investors subject to market sentiment hold a biased belief in the aggregate. With a dynamic multi-asset model, we predict that the breadth-return relationship can be either positive or negative depending on the relative strength of two offsetting forces — disagreement and sentiment. Using the sentiment index developed in Baker and Wurgler (2006, 2007), we find evidence consistent with our predictions. The breadth-return relationship is positive when the sentiment effect is small. However, the relationship becomes negative when (i) the time-series variation of market-wide sentiment is …

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Mutual Fund Size, Fund Family Size And Mutual Fund Performance: The Role Of Regulatory Changes, Sanjeev Bhojra, Young Jun Cho, Nir Yehuda Jan 2012

Mutual Fund Size, Fund Family Size And Mutual Fund Performance: The Role Of Regulatory Changes, Sanjeev Bhojra, Young Jun Cho, Nir Yehuda

Research Collection School Of Accountancy

We examine whether the previously documented positive association between fund family size and fund performance is affected by significant regulatory changes (i.e., Regulation Fair Disclosure (Reg FD), the Global Settlement (GS), and increased scrutiny as a result of trading scandals) that have occurred in the last decade. Using Reg FD as a beginning point for these structural changes, we find that, while fund family size was positively associated with fund performance in the period prior to the regulatory changes, this advantage is significantly weaker in the period subsequent to the regulatory changes. Consistent with the weakened advantage of fund family …

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Investor Competition Over Information And The Pricing Of Information Asymmetry, Brian K. Atkins, Jeffrey Ng, Rodrigo Verdi Jan 2012

Investor Competition Over Information And The Pricing Of Information Asymmetry, Brian K. Atkins, Jeffrey Ng, Rodrigo Verdi

Research Collection School Of Accountancy

Whether the information environment affects the cost of capital is a fundamental question in accounting and finance research. Relying on theories about competition between informed investors as well as the pricing of information asymmetry, we hypothesize a cross-sectional variation in the pricing of information asymmetry that is conditional on competition. We develop and validate empirical proxies for competition using the number and concentration of institutional investor ownership. Using these proxies, we find a lower pricing of information asymmetry when there is more competition. Overall, our results suggest that competition between informed investors has an important effect on how the information …

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Direct And Mediated Associations Among Earnings Quality, Information Asymmetry And The Cost Of Equity, Nilabhra Bhattacharya, Frank Ecker, Per Olsson, Katherine Schipper Jan 2012

Direct And Mediated Associations Among Earnings Quality, Information Asymmetry And The Cost Of Equity, Nilabhra Bhattacharya, Frank Ecker, Per Olsson, Katherine Schipper

Research Collection School Of Accountancy

Using path analysis, we investigate the direct and indirect links between three measures of earnings quality and the cost of equity. Our investigation is motivated by analytical models that specify both a direct link and an indirect link that is mediated by information asymmetry, but do not suggest which link would be more important empirically. We measure information asymmetry as both the adverse selection component of the bid-ask spread and the probability of informed trading (PIN). For a large sample of Value Line firms during 1993–2005, we find statistically reliable evidence of both a direct path from earnings quality to …

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Core Debates In Assessment Center Research: Dimensions ‘Versus’ Tasks, Neil D. Christiansen, Filip Lievens Jan 2012

Core Debates In Assessment Center Research: Dimensions ‘Versus’ Tasks, Neil D. Christiansen, Filip Lievens

Research Collection Lee Kong Chian School Of Business

Although personality constructs are now widely accepted as being important for understanding work behavior, self-report personality tests as a method of assessment are not without their critics (e.g., Morgeson et al., 2007). Whether misguided or not, concerns persist regarding the validity of these measures and the issue of applicant faking has yet to be fully resolved (Tett & Christiansen, 2007). Moreover, applicant reactions tend to be less favorable for personality inventories than many other assessments commonly used in employment settings (Hausknecht, Day, & Thomas, 2004). To some, self-report inventories may be a poor way to assess personality traits, and yet …

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Discerning The Effects Of Timing Of Different Alliances: Similarities And Differences On New-Venture Survival, David Gomulya Jan 2012

Discerning The Effects Of Timing Of Different Alliances: Similarities And Differences On New-Venture Survival, David Gomulya

Research Collection Lee Kong Chian School Of Business

New-venture survival has greatly interested many scholars. While different alliances have beenshown to increase survival, the literature remains virtually silent regarding the effect of timing ofdifferent alliances. Yet, such timing can significantly affect survival. Should a new venture formtechnology alliances, or marketing and distribution alliances, earlier and reap any potential benefitsearlier, or should they form them later? How would similarities and differences between differentalliances influence the effect of their timings? In this study, I examine these questions.

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Preface, Nirmalya Kumar Jan 2012

Preface, Nirmalya Kumar

Research Collection Lee Kong Chian School Of Business

As late as 2001, Indian outward investment was less than US $1 billion. Instead, India, like all developing countries, was actively courting foreign investment into the country. By 2006, India had reached the tipping point. For the first time, Indian outward investment of US $10 billion had outstripped foreign investment into India. The spending spree continued unabated in 2007. Indian companies arranged or concluded US $21 billion in 40 foreign investment deals in January and February of 2007 alone. Moreover, Indian foreign investment in the financial year closing 31 March 2007 exceeded the cumulative total foreign investment by Indian companies …

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