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Full-Text Articles in Business

Ownership Structure, Financial Structure And R&D Investment: Evidence From Korean Firms, Yanghua Chen Jan 2010

Ownership Structure, Financial Structure And R&D Investment: Evidence From Korean Firms, Yanghua Chen

Dissertations and Theses Collection (Open Access)

Understanding factors that can enhance a firm‟s innovativeness is of critical concern in management research. Prior studies in strategy and financial economics have advanced our understanding of how resource allocation into innovation is shaped in a firm, mainly from the perspectives of ownership and financial structures. However, the extant literature is incomplete, because it treats ownership and financial structures as separate determinants, even though theoretical arguments and empirical evidences suggest that they are interdependent. This study investigates the determinants of firm‟s R&D investments by bridging ownership and financial structures. Ownerships held by inside and external owners are considered for ownership …


Procure Financing For Shipping By Auctions, Kekun Wu Jan 2010

Procure Financing For Shipping By Auctions, Kekun Wu

Dissertations and Theses Collection (Open Access)

We study a risk management problem in the scenario of ship procurement. A shipping firm faces a certain financing pressure for the procurement of a new ship. On the other hand, the capacity of the ship excesses the demand requirement of the firm. The firm wants to reduce the payment and control the risk by selling a percentage of capacity to another shipping company. We introduce an auction mechanism for the firm to select the partner and determine the sharing percentage. Acting as the auctioneer, the firm announces a certain percentage of capacity to a set of buyers. The payment …


Organizational Slack, International Expansion And Firm Profitability, Anran Liu Jan 2010

Organizational Slack, International Expansion And Firm Profitability, Anran Liu

Dissertations and Theses Collection (Open Access)

International expansion is a viable growth strategy for firms operating in an increasingly competitive business environment. Understanding the relationship between international expansion and firm performance has been a significant concern for theory development in the strategy and international business literature. The extant literature, however, has paid insufficient attention to the tradeoff between firm growth and profitability that may imply the existence of an optimal rate of growth. Drawing from the Penrosian perspective that emphasizes the role of resources in firm growth, this study investigates whether and how firm slack resources affect the tradeoff between international expansion and profitability. Specifically, this …


The Relationship Between Product And International Diversification: The Effect Of Asset Dispersion And Asset Diversity On Firm Performance, Yulia Muzyrya Jan 2010

The Relationship Between Product And International Diversification: The Effect Of Asset Dispersion And Asset Diversity On Firm Performance, Yulia Muzyrya

Dissertations and Theses Collection (Open Access)

There is little consensus on the diversification-performance relationship in the diversification literature. We aim to contribute to this literature by looking simultaneously at product and international diversification and the relationship between both. Furthermore, we distinguish theoretically and empirically between two different components of any diversification strategy, i.e. the degree of diversification and the type of diversification. We test our hypotheses on panel data covering 115 firms. We find that the dispersion of a firm’s activities, both internationally and in different product markets, results in higher levels of performance. Contrary, we find that higher levels in the diversity of the firm’s …


The Impact Of Employees' Perception Of Corporate Social Responsibility On Job Attitudes And Behaviors: A Study In China, Dan Zheng Jan 2010

The Impact Of Employees' Perception Of Corporate Social Responsibility On Job Attitudes And Behaviors: A Study In China, Dan Zheng

Dissertations and Theses Collection (Open Access)

Corporate social responsibility (CSR) is regarded as voluntary bahaviors that contribute to the soceity welfare. Based on the concept of sustainable development, corporations should not only stress on their economic and business outcomes, but also pay attention to their effect on the society and environment. Corporations are expected to engage in the improvement of their employees' quality of life, as well as the well-being of employees' families, local communities, and the overall society. With the acceleration of global integration, CSR has become a main concern by the public, and is considered as an essential part of the business strategy. It …


Moral Hazard, Firms’ Internal Governance And Management Earnings Forecasts, Jimmy Lee Jan 2010

Moral Hazard, Firms’ Internal Governance And Management Earnings Forecasts, Jimmy Lee

Research Collection School Of Accountancy

This paper investigates the role of management earnings forecasts in mitigating information asymmetry between investors andmanagers relating to moral hazard, and explains how earnings guidance facilitates monitoring. I demonstrate that firms that are more susceptible to moral hazard problems and more difficult to monitor are also more likely to issue annual earningsforecasts and they do so more frequently. In addition, I examine how firm internal governance drives forecasting decisions andshow that stronger board governance and managerial equity incentives are associated with higher likelihood and frequency of forecast issuance. Finally, I provide robust evidence that managerial equity incentives are associated with …


Do Analyst Earnings Beta Explain Growth Anomaly?, Sophie Phuong Thanh Doan Jan 2010

Do Analyst Earnings Beta Explain Growth Anomaly?, Sophie Phuong Thanh Doan

Dissertations and Theses Collection (Open Access)

Using a measure of cashflow risk derived from analyst forecasts, I find that cashflow risk offers a partial explanation for the value – growth anomaly. In particular, the lowest asset growth portfolio has a higher earnings beta than the highest asset growth portfolio. Approximately cashflow risk measured by earnings beta carries a significant positive risk premium of 1.24% with a t-value of 3.51.


Corporate Governance And Earnings Management Before Share Repurchase Announcements In Singapore, Jian Ming Chua Jan 2010

Corporate Governance And Earnings Management Before Share Repurchase Announcements In Singapore, Jian Ming Chua

Dissertations and Theses Collection (Open Access)

Share repurchase in Singapore was legalized in 1998. It is well known that investors view share repurchase as good news. This study is based on share repurchase announcements from 2006 to 2009. The mean Cumulative Market-Adjusted Returns (CAR) for the period [0, +1] and [-1, +1] are significant at 1.25% and 1.33% respectively. In Singapore, there are positive abnormal returns following share repurchase announcements in support of the ―free cash flow‖ hypothesis. By using the Singapore Corporate Governance Index as a proxy, the weakly governed companies exhibit the strongest, positive and significant CAR of 2.62% for the period [0, +1]. …


New Media: A New Medium In Escalating Crises?, Joanna Ann Mei Siah, Namrata Bansal, Augustine Pang Jan 2010

New Media: A New Medium In Escalating Crises?, Joanna Ann Mei Siah, Namrata Bansal, Augustine Pang

Research Collection Lee Kong Chian School Of Business

Purpose– The use of new media in crisis is a double‐edged sword. On one hand, its pivotal role in online monitoring and dissemination of information can help an organisation manage crisis. On the other hand, it can also create organisational crisis. The purpose of this paper is to examine how new media can be used to escalate crisis.Design/methodology/approach– Four crises were examined: the 2008 Edison Chen sex scandal in Hong Kong; and in the USA, New York Taco Bell‐KFC rats infestation crisis in 2007; JetBlue Airways crisis in 2007, and the Kryptonite locks crisis in 2004.Findings– The very characteristics that …


The Sinification Of Western Company Forms In Modern China: A Hybridization Of Sinospheres And Anglospheres, Wai Keung Chung Jan 2010

The Sinification Of Western Company Forms In Modern China: A Hybridization Of Sinospheres And Anglospheres, Wai Keung Chung

Research Collection School of Social Sciences

Western company or corporate forms were introduced to China for more than a hundred years. What has been the impact of this Western institution on the traditional mode of Chinese family business? At the same time, has the traditional Chinese mode of doing business changed any of the fundamental features of this Western institution, and in the end created corporate forms with “Chinese characteristics”? This paper uses the historical sociology and economic sociology perspectives to analyse the interaction between traditional Chinese business and Western corporate forms during the late 19th earlier 20th century modern China. Traditional Chinese business convention for …


Periodic Resource Reallocation In Two-Echelon Repairable Item Inventory Systems, Hoong Chuin Lau, Jie Pan, Huawei Song Jan 2010

Periodic Resource Reallocation In Two-Echelon Repairable Item Inventory Systems, Hoong Chuin Lau, Jie Pan, Huawei Song

Research Collection School Of Computing and Information Systems

Given an existing stock allocation in an inventory system, it is often necessary to perform reallocation over multiple time points to address inventory imbalance and maximize availability. In this paper, we focus on the situation where there are two opportunities to perform reallocation within a replenishment cycle. We derive a mathematical model to determine when and how to perform reallocation. Furthermore, we consider the extension of this model to the situation allowing an arbitrary number of reallocations. Experimental results show that the two-reallocation approach achieves better performance compared with the single-reallocation approach found in the literature. We also illustrate how …


The Beginning Of The End? Agricultural Modernization And Dissolution Of The Peasantry In Contemporary China, Qian Forrest Zhang, John A. Donaldson Jan 2010

The Beginning Of The End? Agricultural Modernization And Dissolution Of The Peasantry In Contemporary China, Qian Forrest Zhang, John A. Donaldson

Research Collection School of Social Sciences

No abstract provided.


The Stability Of Time Versus Money Valuations, Leonard Lee, Michelle P. Lee, Gal Zauberman Jan 2010

The Stability Of Time Versus Money Valuations, Leonard Lee, Michelle P. Lee, Gal Zauberman

Research Collection Lee Kong Chian School Of Business

In this work, we propose that the stability of consumer preferences in decision making differs depending on whether the resource in question is time or money. Two competing hypotheses are tested: whereas prior research has demonstrated greater ambiguity in the value of time (vs. money) thus pointing to less consistency in time valuation, a separate stream of research suggests that money (vs. time) lacks emotional tags and is more difficult to process, pointing to less consistency in money valuation. Our experimental results demonstrate that preferences based on money (vs. time) valuations are less transitive and consistent, supporting the emotion-based account.


Contingency Theory Of Strategic Conflict Management: Directions For The Practice Of Crisis Communication From A Decade Of Theory Development, Discovery And Dialogue, Augustine Pang, Yan Jin, Glen. T. Cameron Jan 2010

Contingency Theory Of Strategic Conflict Management: Directions For The Practice Of Crisis Communication From A Decade Of Theory Development, Discovery And Dialogue, Augustine Pang, Yan Jin, Glen. T. Cameron

Research Collection Lee Kong Chian School Of Business

The dilemma facing crisis scholars could not be more paradoxical: How does one explain and predict the outcome of a phenomenon – characteristics which Chaffee and Berger (1987) argued to be the foundation of a theory – that is so contextual-dependent, where the twists and turns of unfolding events often frus-trate the natural ebb of what one could reasonably surmise as logical trajectory? Admittedly, the bête noire for many in the field is that our powers of deductive reasoning, often woven from threads of foraged facts surrounding the unpredictability of crises, are often tragically compromised and encumbered by myriad complex-ities …


The Situated Production Of Stories, David Greatbatch, Timothy Adrian Robert Clark Jan 2010

The Situated Production Of Stories, David Greatbatch, Timothy Adrian Robert Clark

Research Collection Lee Kong Chian School Of Business

At a general level storytelling is a pervasive feature of everyday discourse both within and outside organisations. Existing research on organisational stories indicates that they are not simply frivolous diversions that seek to amaze and entertain the recipients. Rather they may serve a number of important functions for organisations, which include socialising new organisational members by articulating the culture of an organisation; assisting with the development and verbalisation of visions and strategies; helping develop points of similarity within disparate and dispersed organisational groups; sustaining and legitimating existing power relationships as well as providing opportunities for resistance against them; and acting …


Examining The Relationship Between Trust And Culture In The Consultant-Client Relationship, Stephanos Avakian, Timothy Clark, Joanne Roberts Jan 2010

Examining The Relationship Between Trust And Culture In The Consultant-Client Relationship, Stephanos Avakian, Timothy Clark, Joanne Roberts

Research Collection Lee Kong Chian School Of Business

This chapter examines the dimensions of inter-organizational and interpersonal trust as they are manifested in the consultant–client interaction, viewed within the ‘cultural spheres’ framework (Schneider and Barsoux, 2003). The chapter argues that the alignment or misalignment of culture(s) helps foster or hinder the presence of trust in the consultant–client relationship. We support our argument by demonstrating how culture becomes an important informative resource from which consultants and clients manage their expectations and risk taking. In inter-organizational contexts, trust is developed through artifacts and formal procedures that are shared by both parties. In interpersonal contexts, trust is developed through the mutual …


What's On The Menu? Included Versus Excluded Funds For Singapore's Central Provident Fund Investors, Seng Kee, Benedict Koh, Olivia S. Mitchell Jan 2010

What's On The Menu? Included Versus Excluded Funds For Singapore's Central Provident Fund Investors, Seng Kee, Benedict Koh, Olivia S. Mitchell

Research Collection Lee Kong Chian School Of Business

As one of the oldest and largest national mandatory defined contribution pension systems, Singapore's Central Provident Fund (CPF) permits employees to invest their retirement accumulations in a variety of investment instruments rather than leaving them in a government-managed investment fund. Many plan participants avail themselves of this opportunity, selecting from a menu of more than 200 `included' funds that satisfy specific admission criteria set by the CPF Board. Nevertheless, many other funds are excluded from the list of eligible retirement system investments. This article shows that the `included/non-included' screening criteria have been effective, in that included fund managers earned higher …


Long-Term Earnings Growth Forecasts, Limited Attention, And Return Predictability, Zhi Da, Mitchell Craig Warachka Jan 2010

Long-Term Earnings Growth Forecasts, Limited Attention, And Return Predictability, Zhi Da, Mitchell Craig Warachka

Research Collection Lee Kong Chian School Of Business

Long-term earnings expectations are critically important to stock price valuations. We identify relative optimism and relative pessimism in long-term analyst forecasts by comparing these forecasts with implied short-term earnings growth forecasts across rms within the same industry. Stocks with relatively optimistic and relatively pessimistic long-term analyst forecasts have negative and positive risk-adjusted returns, respectively. This return predictability depends critically on short-term forecasts since relative optimism and relative pessimism originate from the slow diffusion of information from short-term to long-term analyst forecasts. Our results indicate that market participants have limited attention regarding the long-term earnings implications of information.


Understanding Performance Ratings: Dynamic Performance, Attributions, And Rating Purpose, Jochen Reb, Gary J. Greguras Jan 2010

Understanding Performance Ratings: Dynamic Performance, Attributions, And Rating Purpose, Jochen Reb, Gary J. Greguras

Research Collection Lee Kong Chian School Of Business

The present two studies integrate and extend the literatures on dynamic performance, performance attributions, and rating purpose, making several important contributions. First, examining attributions of dynamic performance, Study 1 predicted that performance mean and trend would affect judged ratee ability and effort and that performance variation would affect locus of causality; both predictions were supported by the results. Second, investigating the interaction between dynamic performance and rating purpose. Study 2 predicted that performance mean would have a stronger impact on administrative than on developmental ratings, whereas performance trend and variation would have a stranger impact on developmental than on administrative …


Work-Family Conflict In Work Groups: Social Information Processing, Support, And Demographic Dissimilarity, Devasheesh P. Bhave, Amit Kramer, Theresa G. Glomb Jan 2010

Work-Family Conflict In Work Groups: Social Information Processing, Support, And Demographic Dissimilarity, Devasheesh P. Bhave, Amit Kramer, Theresa G. Glomb

Research Collection Lee Kong Chian School Of Business

We used social information processing theory to examine the effect of work-family conflict (WFC) at the work group level on individuals' experience of WFC. Consistent with hypotheses, results suggest that WFC at the work group level influences individual WFC over and above the shared work environment and job demands. It was also observed that work group support and demographic dissimilarity moderate this relationship. Moderator analyses suggest that work group social support buffers WFC for individuals but is also associated with a stronger effect of work group WFC on individuals' WFC. Moreover, the work group effect on individuals' WFC was shown …


Antecedents Of Supervisor Trust In Collectivist Cultures: Evidence From Turkey And China, S. Arzu Wasti, Hwee Hoon Tan Jan 2010

Antecedents Of Supervisor Trust In Collectivist Cultures: Evidence From Turkey And China, S. Arzu Wasti, Hwee Hoon Tan

Research Collection Lee Kong Chian School Of Business

The premise of much research on dyadic trust building within organizations has been framed around the relationship as it emerges in the work context. Such models, including the seminal Mayer et al. (1995) model of dyadic trust, have been applied to contexts outside North America without a careful understanding of the distribution of social practices and everyday situations in such contexts. This chapter examines culture-specific workways as a starting point for understanding subordinates’ trust in their supervisors in collectivist cultures. Workways refer to the pattern of workplace beliefs, mental models and practices about what is true, good and efficient within …


Managing Innovation Successfully: The Value Of Contextual Fit (Doctoral Dissertation), Ronald Joachim Bledow Jan 2010

Managing Innovation Successfully: The Value Of Contextual Fit (Doctoral Dissertation), Ronald Joachim Bledow

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Who Is Taking Your Business Across Borders? Harnessing Human Capital For Successful Regionalization In Asia, Richard Raymond Smith, C. Switzer, E. Craig Jan 2010

Who Is Taking Your Business Across Borders? Harnessing Human Capital For Successful Regionalization In Asia, Richard Raymond Smith, C. Switzer, E. Craig

Research Collection Lee Kong Chian School Of Business

As the dynamics of globalisation change, Asia has become the focal point for business growth. With the region’s immense diversity across cultures, language, politics, economic development, climate, geography, populations and resources, human capital management is perhaps the most critical and most vexing success factor for companies seeking to invest/operate/grow/expand here. To develop this report, we explored the question of successful regionalisation in Asia from a human capital perspective. We asked, What human capital challenges do business and HR leaders face in their quest to succeed in Asia? What initiatives have they launched to overcome these challenges? And what business outcomes …


What Do Deans Do?, Julie Davies, Howard Thomas Jan 2010

What Do Deans Do?, Julie Davies, Howard Thomas

Research Collection Lee Kong Chian School Of Business

The article offers information on the jobs of business school deans in Great Britain. According to a survey of deans conducted by the Association of Business Schools, effective deans need resolve conflict and deal with issues face-to-face. It says that they try to be selective about which meetings they attended and are appointed to support others' talents and ensure the accomplishment of their works. It adds that they often encounter dilemmas between spending time and energy on operations.


Impactful Management Research: The Importance Of Finding The Voice Of Practice In Management Research, Howard Thomas Jan 2010

Impactful Management Research: The Importance Of Finding The Voice Of Practice In Management Research, Howard Thomas

Research Collection Lee Kong Chian School Of Business

Management research in business schools faces increasing internal and external criticism for the production of rigorous and theoretically grounded but irrelevant research (Mintzberg, 2004; Pfeffer, 2007). This criticism is compounded by often unfavourable comparisons between the academic stature of business schools relative to other professional schools (e.g. medicine, law and engineering) (Bennis and O'Toole, 2005; Khurana, 2007) and to the university communities which they reside (Starkey and Tiratsoo, 2007).


Strategic Financial Management: Evidence From Seasoned Equity Offerings, Michael Barclay, Fangjian Fu, Clifford Smith Jan 2010

Strategic Financial Management: Evidence From Seasoned Equity Offerings, Michael Barclay, Fangjian Fu, Clifford Smith

Research Collection Lee Kong Chian School Of Business

Extant theories of capital structure assume myopic financial managers. So they have hard time to explain the financing behavior of seasoned equity offering (SEO) firms. In contrast with the pecking order theory, SEO firms typically are financially healthy companies with significant cash balances, low leverage, and unused debt capacity. At odds with the tradeoff theory, SEOs often move firms away from, rather than closer to, their target leverage ratios. SEOs appear to be driven by capital needs associated with large investment projects rather than by market timing considerations. Firms issue debt following the SEO to finance investment further and to …


Understanding Analysts Forecasts, R. J. Louth, P. Joos, S. E. Satchell, Guy Weyns Jan 2010

Understanding Analysts Forecasts, R. J. Louth, P. Joos, S. E. Satchell, Guy Weyns

Research Collection School Of Accountancy

The purpose of this paper is to model analysts’ forecasts. The paper differs from the previous research in that we do not focus on how accurate these predictions may be. Accuracy may indeed be an important quality but we argue instead that another equally important aspect of the analysts’ job is to predict and describe the impact of jump events. In effect, the analysts’ role is one of scenario prediction. Using a Bayesian-inspired generalised method of moments estimation procedure, we use this notion of scenario prediction combined with the structure of the Morgan Stanley analysts’ forecasting database to model …


Internationalization And Organizational Resources Of Chinese Firms, Chung-Ming Lau, Hang-Yue Ngo, Daphne W. Yiu Jan 2010

Internationalization And Organizational Resources Of Chinese Firms, Chung-Ming Lau, Hang-Yue Ngo, Daphne W. Yiu

Research Collection Lee Kong Chian School Of Business

Purpose - The internationalization of Chinese firms has been gaining importance in recent years Informed by Dunning s eclectic paradigm this paper examines the factors leading to the going international decisions of Chinese firms in the very early days of the go global call before the central government offered substantial supportDesign/methodology/approach - It is suggested that two types of organizational factors are relevant to these decisions the firm s management capability and core competencies A survey of data of chief executives from over 3 000 firms in the year 2000 was analyzedFindings - Empirical results indicate that different resources endowments …


The Burdens Of Ownership: Reasons For Preferring Renting, Sabine Moeller, Kristina Wittkowshi Jan 2010

The Burdens Of Ownership: Reasons For Preferring Renting, Sabine Moeller, Kristina Wittkowshi

Research Collection Lee Kong Chian School Of Business

Purpose: The purpose of this study is to identify and assess the importance of proposed determinants of the growing consumer preference for renting consumer goods, as opposed to the actual transfer of ownership. Design/methodology/approach: Following a qualitative preliminary study and a literature review, six factors are identified as possible determinants of a preference for non-ownership modes of consumption. These are examined in a quantitative study using a sample of 461 members of a German online peer-to-peer sharing network. Hypotheses regarding the proposed determinants are tested using factor analysis and structural equation modelling. Findings: The results show that the demand for …


Exploring The Antecedents Of New Knowledge Creation In Organizational Settings: An Empirical Study, Thomas Menkhoff, Yue Wah Chay, Benjamin Loh, Hans-Dieter Evers Jan 2010

Exploring The Antecedents Of New Knowledge Creation In Organizational Settings: An Empirical Study, Thomas Menkhoff, Yue Wah Chay, Benjamin Loh, Hans-Dieter Evers

Research Collection Lee Kong Chian School Of Business

This study aims to understand the antecedents of new knowledge creation in knowledge-intensive organizations. A model of knowledge management and new knowledge creation inspired by the works of Nonaka, Nahapiet and Ghoshal and others was used to develop a questionnaire. 213 individuals responded from a knowledge-based organization in Singapore. The results of the study indicated that knowledge tools and technologies interact with the modus of knowledge combination to influence knowledge outcomes in terms of worker skills, competencies, market knowledge and client relationships. The key ingredients for creating new knowledge as well as synergistic collaborations between various knowledge players are also …