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Articles 4801 - 4830 of 6939

Full-Text Articles in Business

The Competitive Dynamics Of New Dvd Releases, Anirban Mukherjee, Vrinda Kadiyali Jan 2012

The Competitive Dynamics Of New Dvd Releases, Anirban Mukherjee, Vrinda Kadiyali

Research Collection Lee Kong Chian School Of Business

In the U.S. motion picture industry, DVDs are increasingly a major source of revenue for moviestudios. Two important strategic decisions for DVDs are the release date and price. Industry evidencesuggests studios consider various release options as evidenced by their pre-release announcements. Whendeciding DVD release dates and prices, studios must consider the following. First, weeks of high demandpotential, increase sales. Second, intense competition in weeks of peak demand might reduce marketshare, lower margins and lead to higher costs of release. Third, deferring a DVD release (e.g. to a nonpeakdemand week) after the movie’s theatrical run reduces the potential sales of the …

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What Are Analysts Really Good At?, Ohad Kadan, Leonardo Madureira, Rong Wang, Tzachi. Zach Jan 2012

What Are Analysts Really Good At?, 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. Forexample, 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 themarket (“market benchmarkers”), or just some absolute return (“total benchmarkers”). We use thesebenchmarks to analyze the role of stock picking, industry picking and market timing in contributing to theperformance of stock recommendations. We are able to do so given that different benchmarks suggest theuse of different sets of abilities. Analysis of the relation between analysts’ recommendations and theirlong-term …

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The Effects Of Political Connections On The Level And Value Of Cash Holdings: International Evidence, Yuanto Kusnadi, K.C. John Wei Jan 2012

The Effects Of Political Connections On The Level And Value Of Cash Holdings: International Evidence, Yuanto Kusnadi, K.C. John Wei

Research Collection School Of Accountancy

In this paper, we examine the role of political connections on corporate liquidity policies and their consequences in an international setting. We find that managers of politically connected firms have a tendency to hoard more cash than their non-connected counterparts. Moreover, presence of political connections reduces the value of cash holdings. Further analysis reveals that our main findings are more pronounced for firms in emerging markets as well as for firms in countries with weak legal protection of investors and high levels of corruption. Overall, our empirical results corroborate previous findings on the agency cost explanation for corporate cash holdings.

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Robust Distributed Scheduling Via Time Period Aggregation, Shih-Fen Cheng, John Tajan, Hoong Chuin Lau Jan 2012

Robust Distributed Scheduling Via Time Period Aggregation, Shih-Fen Cheng, John Tajan, Hoong Chuin Lau

Research Collection School Of Computing and Information Systems

In this paper, we evaluate whether the robustness of a market mechanism that allocates complementary resources could be improved through the aggregation of time periods in which resources are consumed. In particular, we study a multi-round combinatorial auction that is built on a general equilibrium framework. We adopt the general equilibrium framework and the particular combinatorial auction design from the literature, and we investigate the benefits and the limitation of time-period aggregation when demand-side uncertainties are introduced. By using simulation experiments on a real-life resource allocation problem from a container port, we show that, under stochastic conditions, the performance variation …

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Order-Picking By Cellular Bucket Brigades: A Case Study, Yun Fong Lim Jan 2012

Order-Picking By Cellular Bucket Brigades: A Case Study, Yun Fong Lim

Research Collection Lee Kong Chian School Of Business

Assigning products to and retrieving them from proper storage locations are crucial in minimizing the operating cost of a unit-load warehouse. The problem becomes intractable when the warehouse faces variable supply and uncertain demand in a multi-period setting. We assume a factor-based demand model in which demand for each product in each period is affinely dependent on some uncertain factors. The distributions of these factors are only partially characterized. We introduce a robust optimization model that minimizes the worst-case expected total travel in the warehouse with distributional ambiguity of demand. Under a linear decision rule, we obtain a storage and …

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Frog In The Pan: Continuous Information And Momentum, Zhi Da, G. Gurun, Mitchell Craig Warachka Jan 2012

Frog In The Pan: Continuous Information And Momentum, Zhi Da, G. Gurun, Mitchell Craig Warachka

Research Collection Lee Kong Chian School Of Business

We develop and test a frog-in-the-pan hypothesis that predicts investors are less attentive to information arriving continuously in small amounts than to information with the same cumulative stock price implications arriving in large amounts at discrete timepoints. Intuitively, we hypothesize that a series of gradual frequent changes attracts less attention than infrequent dramatic changes. Consistent with our frog-in-the-pan hypothesis, we find strong evidence that continuous information induces stronger and more persistent return continuation. Over a six-month holding period, momentum decreases monotonically from 8.86% for stocks with continuous information during their formation period to 2.91% for stocks with discrete information. Higher …

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An Institutional Perspective And The Role Of The State For Chinese Ofdi, Bing Ren, Hao Liang, Ying Zheng Jan 2012

An Institutional Perspective And The Role Of The State For Chinese Ofdi, Bing Ren, Hao Liang, Ying Zheng

Research Collection Lee Kong Chian School Of Business

Napoleon called China a ‘sleeping dragon’, but recent economic developments as China enters the twenty-first century show that the dragon is awakening. China has maintained strong economic growth since 1979 and sustained a GDP increase of more than 9 percent over the years. The total volume of economic output increased from 2.8 percent in 1970 to 7.23 percent in 2008, ranking China as the third largest economy in the world (United Nation Statistics Division Statistical Databases). China launched its ‘Go Global’ policy in 1999 to encourage highperforming Chinese firms to invest abroad and upgrade their global competence. Since then, outward …

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Why Corporate Social Responsibility Will Emerge As A Driver Of Effective And Compelling Differentiation For Chinese Brands, Joseph Baladi Jan 2012

Why Corporate Social Responsibility Will Emerge As A Driver Of Effective And Compelling Differentiation For Chinese Brands, Joseph Baladi

Research Collection Lee Kong Chian School Of Business

Although the responsibility and role of business within society have evolved over the past two decades, they remain issues that retain conceptual dimensions. This means that instead of consensus over form and function, both are surrounded by a persistent cloud of disagreement and confusion. Too many people remain unsure about what they represent, the importance they play and the impact they have (or should have) on business as well as society. For one thing, different interpretations of what defines business responsibility to society exist. These range from concern over business’ environmental impact and contribution to climate change, to sustainability practices, …

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Public Housing: Appreciating Assets?, Sock Yong Phang Jan 2012

Public Housing: Appreciating Assets?, Sock Yong Phang

Research Collection School Of Economics

The topic of HDB housing is one that is close to the hearts and minds of the majority of Singaporeans. The first part of the presentation will provide a brief overview of price trends in Singapore’s housing sector. The second part delves into the market and policy factors behind the rapid increase in HDB housing prices since 2006. The monograph “Reflections on Housing a Nation” published by the Ministry of National Development in February 2011, contains numerous statements on the goals of housing policy. Briefly, the government is committed to affordable home ownership as a major pillar of Singapore’s public …

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Building Situational Stimuli In Assessment Center Exercises: Do Specific Exercise Instructions And Role-Player Prompts Increase The Observability Of Behavior?, Eveline Schollaert, Filip Lievens Jan 2012

Building Situational Stimuli In Assessment Center Exercises: Do Specific Exercise Instructions And Role-Player Prompts Increase The Observability Of Behavior?, Eveline Schollaert, Filip Lievens

Research Collection Lee Kong Chian School Of Business

Little is known about how assessment center exercises might be designed to better elicit job-relevant behavior. This study uses trait activation theory as a theoretical lens for increasing the number of behaviors that can be observed in assessment centers. Two standardized exercise stimuli (specific exercise instructions and role-player prompts) are proposed, and their effects on the observability of candidate behavior are examined. Results showed a significant effect of role-player prompts in increasing both the general number of behavioral observations and the number of behavioral observations related to three out of four dimensions. Specific exercise instructions did not have effects on …

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Supply Elasticity Of Housing, Kyunghwan Kim, Sock-Yong Phang, Susan Wachter Jan 2012

Supply Elasticity Of Housing, Kyunghwan Kim, Sock-Yong Phang, Susan Wachter

Research Collection School Of Economics

The supply elasticity of housing determines how quickly house prices respond to economic shocks and this has many real economic consequences. Malpezzi and Maclennan (2001) describes its importance in housing market analysis: „most housing models, and most policy analysis hinge on explicit or implicit estimates of the price elasticity of supply of housing: does the market respond to demand side shocks with more supply or higher prices‟. However, as pointed out by Quigley (1979), there exist real analytical difficulties in modeling the supply of housing. Attempting to measure the flow of housing services provided by the stock of housing is …

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How Do Institutional Environments Affect Directors' Behaviors And Their Effectiveness?, Toru Yoshikawa, Hongjin Zhu Jan 2012

How Do Institutional Environments Affect Directors' Behaviors And Their Effectiveness?, Toru Yoshikawa, Hongjin Zhu

Research Collection Lee Kong Chian School Of Business

We examine how institutional environments affect outside directors’ behaviors and their effectiveness. Extant research on the board of directors has indicated that outside directors play a significant role in exercising independent control over management and providing resources. However, we know little about whether and how the relative importance of the two functions varies across different institutional environments characterized by distinct dominant exchange modes (contractual vs. relational). By differentiating between relationship-based and contract-based exchange regimes, we develop a conceptual model to show how the differences in transaction structures influence the relative importance of outside directors as monitors and resource providers, and …

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Teaching Public Relations To Students With A Confucian Cultural Background, Jurrien Gregor Halff Jan 2012

Teaching Public Relations To Students With A Confucian Cultural Background, Jurrien Gregor Halff

Research Collection Lee Kong Chian School Of Business

This paper explores how the Confucian cultural background of students influences their perceptions of and reaction to the dominant public relations curriculum from the ‘West’. Using focus groups of Asian students, three heuristics that affect the students’ affinity to learn public relations are identified. Instructors working with students from a Confucian cultural background are advised to incorporate these heuristics when planning their curriculum.

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Size And Return: A New Perspective, Fangjian Fu, Wei Yang Jan 2012

Size And Return: A New Perspective, Fangjian Fu, Wei Yang

Research Collection Lee Kong Chian School Of Business

We document robust empirical evidence that, after controlling for idiosyncratic volatility, large stocks earn significantly higher returns than small stocks. Our empirical results indicate that idiosyncratic volatility is positively related to return, but negatively related to size. Hence, failure to control for idiosyncratic volatility generates a downward omitted variable bias and leads to the widely documented negative relation between size and return. We explain the two contrasting size-return relations, with and without the control for idiosyncratic volatility, in a parsimonious equilibrium model that incorporates three empirical regularities: some individual investors are under-diversified; small stocks have higher idiosyncratic volatilities than large …

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Repairing Trust With Individuals Vs. Groups, Peter H. Kim, Cecily D. Cooper, Kurt T. Dirks, Donald L. Ferrin Jan 2012

Repairing Trust With Individuals Vs. Groups, Peter H. Kim, Cecily D. Cooper, Kurt T. Dirks, Donald L. Ferrin

Research Collection Lee Kong Chian School Of Business

This study incorporates insights from research on group decision-making and trust repair to investigate the differences that arise when alleged transgressors attempt to regain the trust of groups as compared to individuals. Results indicate that repairing trust is generally more difficult with groups than individuals, and both groups and individuals were less trusting when trustees denied culpability (rather than apologized) for a competence-based violation or apologized (rather than denied culpability) for an integrity-based violation. However, the interaction of violation-type and violation-response also ultimately affected the relative difficulty of repairing trust with groups vs. individuals, with the greater harshness of groups …

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Multi-Party Multi-Period Supply Chain Coordination, Thin Yin Leong, Michelle Lee Fong Cheong Jan 2012

Multi-Party Multi-Period Supply Chain Coordination, Thin Yin Leong, Michelle Lee Fong Cheong

Research Collection School Of Computing and Information Systems

We apply combinatorial auction as a coordination mechanism to smooth demands placed on suppliers' limited production capacities, allowing several manufacturers to share common suppliers effectively. Products are bidders bidding for parts from suppliers, consuming their capacities in different time periods. The fourth party logistic (4PL) provider acts as the auctioneer to coordinate bids and perform price iterations. We leverage on the strong links between the Lagrangian relaxation method and combinatorial auction, where the Lagrange multipliers serve as the supply capacity reserve prices, to balance the demand and supply of capacities. To prevent cyclic behaviour and to increase convergence speed, we …

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A Sentiment Analysis Of Singapore Presidential Election 2011 Using Twitter Data With Census Correction, Murphy Junyu Choy, Michelle Lee Fong Cheong, Nang Laik Ma, Ping Shung Koo Jan 2012

A Sentiment Analysis Of Singapore Presidential Election 2011 Using Twitter Data With Census Correction, Murphy Junyu Choy, Michelle Lee Fong Cheong, Nang Laik Ma, Ping Shung Koo

Research Collection School Of Computing and Information Systems

Sentiment analysis is a new area in text analytics where it focuses on the analysis and understanding of the human emotions from the text patterns. This new form of analysis has been widely adopted in customer relationship management especially in the context of complaint management. However, sentiment analysis using Twitter data has remained extremely difficult to manage due to sampling biasness. In this paper, we will discuss about the application of reweighting techniques in conjunction with online sentiment divisions to predict the vote percentage that individual presidential candidate in Singapore will receive in the Presidential Election 2011. There will be …

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Content Contribution In Social Media: The Case Of Youtube, Qian Tang, Bin Gu, Andrew B. Whinston Jan 2012

Content Contribution In Social Media: The Case Of Youtube, Qian Tang, Bin Gu, Andrew B. Whinston

Research Collection School Of Computing and Information Systems

Social media allows individuals and businesses to contribute contents for public viewing. However, little is known about the underlying incentives that why content providers derive utilities from such activities. In this study, we build a dynamic structural model to recover the utility function for content providers. Our model distinguishes short-term payoffs based on ad revenue sharing from long-term payoffs driven by content providers' reputation. The model was estimated using a panel data of 914 top 1000 video providers on You Tube from Jun 7th, 2010, to Aug 7th, 2011 since top providers are more likely to be encouraged by these …

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Optimal Decision Making For Online Referral Marketing, Zhiling Guo Jan 2012

Optimal Decision Making For Online Referral Marketing, Zhiling Guo

Research Collection School Of Computing and Information Systems

Widely available web 2.0 technologies not only bring rich and interactive user experiences, but also easily help users advertise products or services on their own blogs and social network webpages. Online referral marketing, for example, is a business practice that rewards customers who successfully refer other customers to a website or upon completion of a sale usually via their own social contacts. The referral rewards come in different forms such as shopping vouchers, redeemable points, discounts, prizes, cash payments, etc. We develop an analytical model to evaluate the business potential of incorporating an online referral marketing program into the firm's …

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Consumer-Driven Innovation Management, Arcot Desai Narasimhalu, Shekhar Mitra Jan 2012

Consumer-Driven Innovation Management, Arcot Desai Narasimhalu, Shekhar Mitra

Research Collection School Of Computing and Information Systems

The evolution of human society leads to increased affluence and prosperity of certain populations, sometimes at the expense of well-established markets. Market leaders in products and services tend to be so focused on their current customer base that they are caught off guard with the changes in markets created by the evolution. These changes often go unnoticed until it is too late. The change in customer base often requires the repositioning of products and services through innovations, which address new and emerging markets. Some of these changes could potentially result in tectonic market shifts that force innovation managers to involve …

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A Fuzzy Logic Multi-Criteria Decision Framework For Selecting It Service Providers, Amir Karami, Zhiling Guo Jan 2012

A Fuzzy Logic Multi-Criteria Decision Framework For Selecting It Service Providers, Amir Karami, Zhiling Guo

Research Collection School Of Computing and Information Systems

Selecting IT service providers in information systems outsourcing involves both qualitative and quantitative evaluations. This paper proposes an integrated multi-criteria decision-making (MCDM) framework to effectively handle uncertainty and subjectivity in the vendor selection process. The proposed methods apply fuzzy logic approach to integrate qualitative survey data into traditional multi-criteria decision models such as data envelope analysis (DEA), analytical hierarchy process (AHP) methods, and TOPSIS. Based on case studies from Iranian banking industry, we empirically test the proposed framework and show it is superior to existing methods. We demonstrate that the fuzzy logic approach provides a robust analysis for vendor selection …

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Understanding How Timing Of Alliance Formation Affects New-Venture Survival: The Dynamics Of Temporal Congruence And Contingency, David Gomulya Dec 2011

Understanding How Timing Of Alliance Formation Affects New-Venture Survival: The Dynamics Of Temporal Congruence And Contingency, David Gomulya

Research Collection Lee Kong Chian School Of Business

New-venture survival has greatly interested many scholars. While alliances have been shown to increase survival, the literature remains silent regarding the effect of timing of alliance formations. Related literatures regarding timing of other types of actions have also been unable to theoretically explain their conflicting empirical findings, which suggest that the effect of timing can range from positive to negative. To fill critical theoretical gaps, I develop a novel model based on temporal changes during the pre- and post-formation phases of an alliance. I show the effect can indeed range from positive to negative. I delineate further boundary condition.

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Don't Blame Me: The Effects Of Ceo Power, Board Affiliation, And Sarbanes-Oxley On Ceo Turnover Following Financial Misrepresentation, David Gomulya Dec 2011

Don't Blame Me: The Effects Of Ceo Power, Board Affiliation, And Sarbanes-Oxley On Ceo Turnover Following Financial Misrepresentation, David Gomulya

Research Collection Lee Kong Chian School Of Business

I examine the conditions under which CEOs are terminated as an outcome of firm financial restatements. I find that chief executive‘s power acts to limit terminations,especially in cases of more severe restatements, while board members most closely affiliated with the CEO appear to avoid the stigma of financial restatements by deflecting blame to the CEO, increasing terminations. I also examine the effectiveness of regulatory remedies such as Sarbanes-Oxley, aimed at strongly penalizing CEOs for financial misrepresentation. Sarbanes-Oxley significantly alters the relationship between CEOs and their board. My context is restating U.S. public firms before (1995-1998) and after Sarbanes-Oxley (2003-2006).

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Asset Gathering By Hedge Fund Firms, Melvyn Teo Dec 2011

Asset Gathering By Hedge Fund Firms, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

We explore agency issues within hedge fund firms. We find that firms that launch many funds tend to underperform other firms by between 3 to 5 percent per year after adjusting for risk. These findings are strongest for firms offering funds that pursue many distinct strategies, invest in a variety of geographical regions, locate in a gamut of countries, and offer different base currencies. Our results allow fund investors to distinguish, ex-ante, firms that focus on delivering alpha from those that focus on gathering assets.

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Opportunities And Challenges For The Asset Management Industry, Singapore Management University Dec 2011

Opportunities And Challenges For The Asset Management Industry, Singapore Management University

Perspectives@SMU

With the secular rise of Asia and a deluge of capital inflows, amid a backdrop of battered global financial markets, bankers, asset managers, academics and investors gathered to hear and discuss the opportunities and challenges facing the asset management industry in Asia. Organised by the Centre for Asset Securitisation and Management in Asia(CASA), under SMU's Sim Kee Boon Institute for Financial Economics, the inaugural asset management conference hosted a panel of experts.

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Social Renaissance: When Governments, Businesses And Society Collaborate, Singapore Management University Dec 2011

Social Renaissance: When Governments, Businesses And Society Collaborate, Singapore Management University

Perspectives@SMU

The world has been great at inventing high-tech “stuff” but it hasn’t been so good “at things to do with humanity and people” said Geoff Mulgan, chief executive of NESTA, the UK’s National Endowment for Science Technology and the Arts. He was speaking at Social iCon 2011, a conference jointly organised by the Lien Centre for Social Innovation, the Young Foundationand Ashoka. Held at Singapore Management University (SMU), the conference saw a gathering of veteran social innovators eager to share their experiences with participants.

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Chilling A Hot Planet: Many Solutions, No Answers, Knowledge@Smu Dec 2011

Chilling A Hot Planet: Many Solutions, No Answers, Knowledge@Smu

Knowledge@SMU

Rising temperatures and massive environmental catastrophes should rightly bring about greater emphases on climate change issues. Yet, there is much inertia due to disagreements amongst world leaders on emission curbs and their ensuing economic impact. A panel of speakers at the recent Social Sciences and Humanities Seminar on climate change discussed the various approaches taken by governments as such issues feature increasingly not just in political chatter, but also, in security assessment.

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Social Renaissance: When Governments, Businesses And Society Collaborate, Knowledge@Smu Dec 2011

Social Renaissance: When Governments, Businesses And Society Collaborate, Knowledge@Smu

Knowledge@SMU

It would neither be appropriate nor reasonable to apply conventional thinking to new and increasingly complex social issues. Creative thinking and innovation, more often associated with arts and technology, can bring great value to the social sector. Best of all, it can, all at once, address public, private and social sector challenges. Speaking at the Lien Centre for Social Innovation's Social iCon 2011 conference, Geoff Mulgan, chief executive of UK's National Endowment for Science, Technology and the Arts, shared insights on social innovation can create win-win solutions.

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Read Leadership Books. Become A Leader., Knowledge@Smu Dec 2011

Read Leadership Books. Become A Leader., Knowledge@Smu

Knowledge@SMU

Leadership books, be it biographies or self-help books, often present "leadership" as something achievable by any common person through diligence, skills, and, of course, luck, if only to sell the hope and magic that such power can sometimes come out of nothing. In 'How to Lead', author Jo Owen frames this 'luck' as 'context' – a meeting of 'skills' and 'performance' at the right place and at the right time.

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Opportunities And Challenges For The Asset Management Industry, Knowledge@Smu Dec 2011

Opportunities And Challenges For The Asset Management Industry, Knowledge@Smu

Knowledge@SMU

Singapore, with its open economy and stable business environment, is host to some of the world's largest asset management companies. It has been observed, however, that local asset management firms are lagging far behind; somehow unable to capitalise on the same opportunities available to the global giants. Speaking at a conference organised by SMU's Centre for Asset Securitisation and Management in Asia, a panel of industry experts shared their views on what it would take to get both local and Asia-based firms into the big league.

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