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Articles 5401 - 5430 of 6934

Full-Text Articles in Business

Is Regime Switching In Stock Returns Important In Asset Allocations?, Jun Tu Jan 2010

Is Regime Switching In Stock Returns Important In Asset Allocations?, Jun Tu

Research Collection Lee Kong Chian School Of Business

The stock market displays regime switching between upturns and downturns. This paper provides a Bayesian framework for making portfolio decisions that takes this regime switching into account, together with asset pricing model uncertainty and parameter uncertainty. The findings reveal that the economic value of accounting for regimes is substantially independent of whether or not model and parameter uncertainties are incorporated: the certainty-equivalent losses associated with ignoring regime switching are generally above 2% per year, and can be as high as 10%. These results suggest that the more realistic regime switching model is fundamentally different from the commonly used single-state model, …

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Academic Entrepreneurs: The Role Of Star Scientists In Commercialization Of Radical Science, Reddi Kotha, Gerard George Jan 2010

Academic Entrepreneurs: The Role Of Star Scientists In Commercialization Of Radical Science, Reddi Kotha, Gerard George

Research Collection Lee Kong Chian School Of Business

We examine the effects of individual, team, and institutional capabilities on the governance of technology contracts. Star scientific teams may work on higher quality projects which may be of high or low risk, depending on the maturity of the technology. Arguments that assumed that both capabilities and risk are codetermined, and seldom diverge in their effects on incentive preferences, may be tenuous in these cases. We test our predictions using a two-stage model in a sample of 1,474 inventions that were licensed through performance or upfront contracts. We find that when individuals and teams have strong capabilities, they prefer performance …

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Accounting, Risk, And Revolution, Stefano Harney Jan 2010

Accounting, Risk, And Revolution, Stefano Harney

Research Collection Lee Kong Chian School Of Business

In response to the position of Steve Toms, this article argues that risk must be understood not as it has been posited by capital but rather as it might be taken up by labour. It uses Marx's socialization thesis to maintain that risk is a symptom of possibility for labour. Drawing on the work of Randy Martin the argument culminates in a consideration of the interanimation of capital in labour occasioned by the second helping of risk produced by its commoditisation. It concludes that far from being just what Michel Aglietta calls a social evaluation of private economic activity, risk …

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Does Co-Opetition Change The Game? A Bayesian Analysis Of Participation Strategy In An Industry Standard-Setting Organization, Robert J. Kauffman, Benjamin B. M. Shao, Juliana Y. Tsai Jan 2010

Does Co-Opetition Change The Game? A Bayesian Analysis Of Participation Strategy In An Industry Standard-Setting Organization, Robert J. Kauffman, Benjamin B. M. Shao, Juliana Y. Tsai

Research Collection School Of Computing and Information Systems

Across different industries, we observe the emergence of industry standard-setting organizations (SSO) that focus on the creation of industry-specific process standards. Firms adopt a strategy of co-opetition, the combination of cooperation and competition, during standards development. We propose that a firm's co-opetition strategy is revealed to some extent by when it elects to participate in an industry SSO. Bayesian information updating offers an effective empirical modeling perspective for studying firms' participation strategies when managers' beliefs and uncertainties are factored into their decision-making. We analyze a panel data set of 73 U.S. public firms over a 20-year period. These firms are …

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Do Online Reviews Reflect A Product's True Perceived Quality? An Investigation Of Online Movie Reviews Across Cultures, Noi Sian Koh, Nan Hu, Eric K. Clemons Jan 2010

Do Online Reviews Reflect A Product's True Perceived Quality? An Investigation Of Online Movie Reviews Across Cultures, Noi Sian Koh, Nan Hu, Eric K. Clemons

Research Collection School Of Computing and Information Systems

When does the reported average of online ratings match perceived average assessment? We apply behavioral theory to capture intentions in rating online movie reviews in two dissimilar countries - China and the United States. We argue that consumers' rating behaviors are affected by cultural influences. Based on data collected from imdb.com and douban.com, we found significant differences across raters from these two different cultures. Additionally, we examined how cultural elements influence rating behavior for a hybrid culture - Singapore. Under-reporting bias occurs when consumers with extreme opinions are more likely to report their opinions than consumers with moderate reviews, resulting …

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Introducing Communication In Dis-Pomdps With Locality Of Interaction, Makoto Tasaki, Yuichi Yabu, Yuki Iwanari, Makoto Yokoo, Janusz Marecki, Pradeep Reddy Varakantham, Milind Tambe Jan 2010

Introducing Communication In Dis-Pomdps With Locality Of Interaction, Makoto Tasaki, Yuichi Yabu, Yuki Iwanari, Makoto Yokoo, Janusz Marecki, Pradeep Reddy Varakantham, Milind Tambe

Research Collection School Of Computing and Information Systems

The Networked Distributed POMDPs (ND-POMDPs) can model multiagent systems in uncertain domains and has begun to scale-up the number of agents. However, prior work in ND-POMDPs has failed to address communication. Without communication, the size of a local policy at each agent within the ND-POMDPs grows exponentially in the time horizon. To overcome this problem, we extend existing algorithms so that agents periodically communicate their observation and action histories with each other. After communication, agents can start from new synchronized belief state. Thus, we can avoid the exponential growth in the size of local policies at agents. Furthermore, we introduce …

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Operational Risk In Trading Platforms, M. Thulasidas Jan 2010

Operational Risk In Trading Platforms, M. Thulasidas

Research Collection School Of Computing and Information Systems

Operational risk is the risk of loss resulting from inadequate or failed internal processes, people, and systems, or from external events. A trading platform is a system, and therefore comes under the umbrella definition of operational risk.

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Information Technology Diffusion With Influentials, Imitators, And Opponents: Model And Preliminary Evidence, Hasan Cavusoglu, Nan Hu, Yingjiu Li, Dan Ma Jan 2010

Information Technology Diffusion With Influentials, Imitators, And Opponents: Model And Preliminary Evidence, Hasan Cavusoglu, Nan Hu, Yingjiu Li, Dan Ma

Research Collection School Of Computing and Information Systems

Information technology (IT) innovations follow a diverse set of diffusion patterns. Early diffusion models explaining technology diffusion patterns assumed that there is a single homogeneous segment of potential adopters. It was later shown that a two-segment model considering two groups of adopters explains variations in diffusion patterns better than the existing one-segment models. While the two-segment model considers a group of adopters promoting adoption by exerting a positive influence on prospective adopters, it does not consider the members of society who aim to inhibit the adoption process by exerting a negative influence on prospective adopters. In fact, most IT innovations …

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Corporate Governance In China: No Quick Fix, No Fixed Solution, Knowledge@Smu Dec 2009

Corporate Governance In China: No Quick Fix, No Fixed Solution, Knowledge@Smu

Knowledge@SMU

China offers a multitude of business opportunities, but international investors often find themselves stumped with a range of issues, many of which boil down to the country's distinct system of corporate governance. Here, the lines between interests and relationships are less clear-cut, and links to the government seem to serve as a proxy to accountability. This is a system that exists for a reason, said TJ Wong at SMU's Ho Bee Professorship in Chinese Economy and Business lecture series. However, foreign investors, used to international norms of transparency, are calling this into question.

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Asian Maths Whizz And Talkative Females: How Stereotypes Can Actually Boost Performance, Knowledge@Smu Dec 2009

Asian Maths Whizz And Talkative Females: How Stereotypes Can Actually Boost Performance, Knowledge@Smu

Knowledge@SMU

Nobody likes to be pigeonholed or reduced to a single stereotype. One reason could be because we believe ourselves to be products of multiple stereotypes: a combination of identities, such as "Asian", "female", "lawyer", "Gen X", "Christian", "Chinese", etc. While these labels connect us to like-individuals, they can also carry all sorts of connotations and expectations – positive, neutral and negative. For example, an Asian might be expected to outperform a non-Asian at mathematics because of stereotypes that Asians are mathematically inclined. Will such undue expectations affect the Asian's performance outcome? Research studies point to a 'Yes'.

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To Groom And Retain Talents, Asian Organisations Look To The West, Knowledge@Smu Dec 2009

To Groom And Retain Talents, Asian Organisations Look To The West, Knowledge@Smu

Knowledge@SMU

Is there a scarcity of talents in Asia? While opportunities are abound for businesses in the region, many organisations struggle to find the "right" people to seize those opportunities. Those that do a good job of grooming and retaining their future leaders will find themselves to be in an advantageous position. But why should organisations invest in nurturing their flock when seats to the corner offices are already "reserved" for an in-group of family members, friends, scholars, social elites, etc? This is especially problematic in Asia, where many large organisations are either family-owned or state-owned.

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Predicting Hedge Fund Performance With Style, Melvyn Teo Dec 2009

Predicting Hedge Fund Performance With Style, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

I apply the endogenous benchmark approach to the study of hedge funds. I find that including an investment style benchmark significantly reduces within style correlations in hedge fund residuals. Also, the performance spread between high past alpha t-statistic (a risk-adjusted information ratio) funds and low past alpha t-statistic funds increases dramatically when performance is measured relative to fund investment style. There appears to be valuable information in investment style performance that can aid in fund selection.

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Banking On Markets To Save The Post-Nopenhagen World, Knowledge@Smu Dec 2009

Banking On Markets To Save The Post-Nopenhagen World, Knowledge@Smu

Knowledge@SMU

At the Copenhagen harbour, a statue of the little mermaid sits, as if to remind us all of the tragic fate that awaits the hopeful. And just like in the fairytale, ideals vanished into thin air at the COP 15 last month, as world leaders failed to establish any binding consensus on climate change. All is not lost. Some politicians, analysts and activists are still holding out for the alternative happy ending to the tale, where politicians will ratify an international agreement at the next COP convention… and if not, the one after that. But for those who have no …

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Feedback On Proposals By The Committee To Develop The Accountancy Sector, Tan, Pearl Hock-Neo Dec 2009

Feedback On Proposals By The Committee To Develop The Accountancy Sector, Tan, Pearl Hock-Neo

Research Collection School Of Accountancy

No abstract provided.

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The Role Of Is Project Critical Success Factors: A Revelatory Case, Cecil Eng Huang Chua, Wee-Kiat Lim Dec 2009

The Role Of Is Project Critical Success Factors: A Revelatory Case, Cecil Eng Huang Chua, Wee-Kiat Lim

CCX Research

Research in Critical Success Factors (CSFs) of Enterprise Systems (ES) projects has identified numerous practitioner governance mechanisms for ensuring project success. However, such research has not developed a theory of why certain critical success factors encourage project success. Our research develops such theory on a case study where even though the levels of several critical success factors were weak, the project nevertheless succeeded. Specifically, the logistics ES project succeeded even though there was (1) only marginal top management support, (2) low key user commitment, and (3) change management, training and other critical aspects of user management and communication were not …

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An Organizational Impression Management Perspective On The Formation Of Corporate Reputations, Scott Highhouse, Margaret E. Brooks, Gary J. Gregarus Dec 2009

An Organizational Impression Management Perspective On The Formation Of Corporate Reputations, Scott Highhouse, Margaret E. Brooks, Gary J. Gregarus

Research Collection Lee Kong Chian School Of Business

Researchers have only recently turned their attention to the study of corporate reputation.As is characteristic of many early areas of management inquiry, the field is decidedly multidisciplinary and disconnected. This article selectively reviews reputation research conducted mainly during the past decade. A framework is proposed that views reputation from the perspective of organizational impression management. Corporations are viewed as social actors, intent on enhancing their respectability and impressiveness in the eyes of constituents.

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Spirituality At Work In A Changing World: Managerial And Research Implications, Eugene Geh, Gilbert Tan Dec 2009

Spirituality At Work In A Changing World: Managerial And Research Implications, Eugene Geh, Gilbert Tan

Research Collection Lee Kong Chian School Of Business

This paper identifies the seminal works of key theorists in the field of spirituality and traces the development of the key ideas of spirituality at the workplace in relation to their relevance in today's organizational context. We examine how having a healthy orientation towards spirituality at work can lead to desirable individual and organizational outcomes. Particular emphasis is placed on understanding the rapidly changing workplace and its future directions by first uncovering the rationale behind the evolution of management thought since the introduction of Taylor's scientific management and then, by examining the various stages of economic development and as well …

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Law And Capitalism: What Corporate Crises Reveal About Legal Systems And Economic Development Around The World By C. J. Milhaupt And K. Pistor, Ruth V. Aguilera, Abhijeet K. Vadera Dec 2009

Law And Capitalism: What Corporate Crises Reveal About Legal Systems And Economic Development Around The World By C. J. Milhaupt And K. Pistor, Ruth V. Aguilera, Abhijeet K. Vadera

Research Collection Lee Kong Chian School Of Business

The article reviews the book "Law & Capitalism: What Corporate Crises Reveal About Legal Systems & Economic Development Around the World," by Curtis J. Milhaupt and Katharina Pistor.

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Managing Supply Uncertainty With An Information Market, Zhiling Guo, Fang Fang, Andrew B. Whinston Dec 2009

Managing Supply Uncertainty With An Information Market, Zhiling Guo, Fang Fang, Andrew B. Whinston

Research Collection School Of Computing and Information Systems

We propose a market-based information aggregation mechanism to manage the supply side uncertainty in the supply chain. In our analytical model, a simple supply chain consists of a group of retailers who order a homogeneous product from two suppliers. The two suppliers differ in their ability to fulfill orders – one always delivers orders and the other fulfills orders probabilistically. We model the supply chain decisions as a Stackelberg game where the supplier who has uncertain reliability decides a wholesale price before the retailers who independently receive signals about the supplier’s reliability determine their sourcing strategies. We then propose an …

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Firm-Specific Knowledge Resources And Competitive Advantage: The Roles Of Economic- And Relationship-Based Employee Governance Mechanisms, Heli Wang, Jinyu He, Joseph T. Mahoney Dec 2009

Firm-Specific Knowledge Resources And Competitive Advantage: The Roles Of Economic- And Relationship-Based Employee Governance Mechanisms, Heli Wang, Jinyu He, Joseph T. Mahoney

Research Collection Lee Kong Chian School Of Business

The resource-based view of the firm emphasizes the role of firm-specific resources, especially firm-specific knowledge resources, in helping a firm to achieve sustainable competitive advantage. However, the deployment of firm-specific knowledge often requires key employees to make specialized human capital investments that are not easily redeployable to other settings. Thus, in the absence of effective safeguards and trust building devices, employees with foresight may be reluctant to make such specialized investments. This study explores both economic- and relationship-based governance mechanisms that might mitigate this underinvestment problem. Effective use of these governance mechanisms enables a firm to obtain greater performance from …

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Opportunity Cost Neglect, Shane Frederick, Nathan Novemsky, Jing (Jane) Wang, Ravi Dhar, Stephen Nowlis Dec 2009

Opportunity Cost Neglect, Shane Frederick, Nathan Novemsky, Jing (Jane) Wang, Ravi Dhar, Stephen Nowlis

Research Collection Lee Kong Chian School Of Business

To properly consider the opportunity costs of a purchase, consumers must actively generate the alternatives that it would displace. The current research suggests that consumers often fail to do so. Even under conditions promoting cognitive effort, various cues to consider opportunity costs reduce purchase rates and increase the choice share of more affordable options. Sensitivity to such cues varies with chronic dispositional differences in spending attitudes. We discuss the implications of these results for the marketing strategies of economy and premium brands.

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Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan Dec 2009

Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

Selecting the right partner is important for the success of alliances and joint ventures. For international joint ventures (IJVs) from diverse cultures the partner selection process can become complicated. Prior studies have investigated the alliances and joint ventures to develop a set of objective criteria for evaluating potential partners. This paper reports the study of IJVs formed by Singapore firms in Peoples Republic of China and India. The intent was to develop a methodology for identifying partner selection criteria in a cross-cultural setting. The findings reveal that the partner selection process follows a different logic in Confucian societies. Trust has …

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Does Patent Strategy Shape The Long-Run Supply Of Public Knowledge? Evidence From Human Genetics, Kenneth G. Huang, Fiona Murray Dec 2009

Does Patent Strategy Shape The Long-Run Supply Of Public Knowledge? Evidence From Human Genetics, Kenneth G. Huang, Fiona Murray

Research Collection Lee Kong Chian School Of Business

Knowledge-based firms seeking competitive advantage often draw on the public knowledge stream (ideas embedded in public commons institutions) as the foundation for private knowledge (ideas firms protect through private intellectual property [IP] institutions). However, understanding of the converse relationship—the impact of private knowledge strategies on public knowledge production—is limited. We examine this question in human genetics, where policy makers debate expanding IP ownership over the human genome. Our difference-in-differences estimates show that gene patents decrease public genetic knowledge, with broader patent scope, private sector ownership, patent thickets, fragmented patent ownership, and a gene's commercial relevance exacerbating their effect.

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Mediating The Media: A Journalist-Centric Model In Managing The Media By Corporate Communication Practitioners, Augustine Pang Dec 2009

Mediating The Media: A Journalist-Centric Model In Managing The Media By Corporate Communication Practitioners, Augustine Pang

Research Collection Lee Kong Chian School Of Business

Purpose: The prevailing challenge faced by practitioners is to conduct effective media relations, especially with the proliferation of diverse media platforms both online and offline. For such a predominant and critical function, a systematic approach needs to be offered. This paper aims to address these issues. Design/methodology/approach: A new model is developed, drawing on insights from corporate communications and journalism literature. Findings: This model identifies two sets of influences that practitioners should seek to understand. The internal influences include journalist mindsets, journalist routines, and newsroom routines. The external influences include extra-media forces and media ideology. Research limitations/implications: At this juncture, …

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A Career Stage Perspective To Employees’ Preferred Psychological Contract Inducements, Chin Heng (Liu Zhenxing) Low, Prashant Bordia Dec 2009

A Career Stage Perspective To Employees’ Preferred Psychological Contract Inducements, Chin Heng (Liu Zhenxing) Low, Prashant Bordia

Research Collection Lee Kong Chian School Of Business

The psychological contract describes employees’ beliefs regarding the reciprocal obligations between themselves and their employer. While research has examined the consequences of psychological contract fulfillment and breach, there is limited understanding of how employees’ preferences for psychological contract inducements may vary across different stages of their careers. Drawing on career stage theory, this paper develops a conceptual framework proposing that employees at different perceived career stages will prioritize different inducements from their employer. Using Super’s career stage model, the paper identifies stage-specific inducements that may be valued by employees at early, mid, and late career stages. The framework offers insights …

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Don't Be Undersold!, Jan-Benedict E.M. Steenkamp, Nirmalya Kumar Dec 2009

Don't Be Undersold!, Jan-Benedict E.M. Steenkamp, Nirmalya Kumar

Research Collection Lee Kong Chian School Of Business

"Aldi" is a word that strikes fear in the hearts of brand managers across Europe. A chain of low-budget retail stores with sales of $73.5 billion in 2008, Aldi invented what is commonly referred to as the hard-discount store, a format that is destroying between a quarter and a half trillion dollars in brand sales annually.Brand executives at major consumer packaged goods companies have mostly been caught off guard by this success, The authors' research identified four key misconceptions that explain why: (1) Hard discounters can succeed only in Europe; (2) they attract only the poor; (3) they offer inferior …

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Tunneling Through Intercorporate Loans: The China Experience, Guohua Jiang, Charles M. C. Lee, Heng Yue Nov 2009

Tunneling Through Intercorporate Loans: The China Experience, Guohua Jiang, Charles M. C. Lee, Heng Yue

Research Collection School of Accountancy

This study investigates a particularly brazen form of corporate abuse, in which controlling shareholders use intercorporate loans to siphon billions of RMB from hundreds of Chinese listed companies during the 1996 to 2006 period. We document the nature and extent of these transactions, evaluate their economic consequences, examine factors that affect their cross-sectional severity, and report on the mitigating roles of auditors, institutional investors, and regulators. Collectively, our findings shed light on the severity of the minority shareholder expropriation problem in China, as well as the relative efficacy of various legal and extra-legal governance mechanisms in that country.

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Singapore’S Leadership, Circa 2004 - Softer, Gentler, Consultative?, Knowledge@Smu Nov 2009

Singapore’S Leadership, Circa 2004 - Softer, Gentler, Consultative?, Knowledge@Smu

Knowledge@SMU

Long before the ‘locals versus foreigners’ debate captured the imaginations of the nation, Singaporeans might faintly remember the ‘stayers versus quitters’ contention, as well as talk of ‘heartlanders versus cosmopolitans’ – milestones that are now neatly documented into a collection of essays, bundled in the book, Impressions of the Goh Chok Tong Years in Singapore. Stories ranging from Singapore’s population decline, bilateral relations and SARS crisis, to interethnic tensions, censorship and civil activism are captured, providing a remarkably wide, stereoscopic (if not nostalgic) peek into a recent past.

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Buy Now, Regret Later: Rationalising The Irrational For Shopaholics, Knowledge@Smu Nov 2009

Buy Now, Regret Later: Rationalising The Irrational For Shopaholics, Knowledge@Smu

Knowledge@SMU

Why do we buy things that we don't need? One explanation is that it nourishes our consumerist cravings; that inexplicable sense of satisfaction that comes with the ownership of familiar items, but in a different colour, design, brand, smell, taste – things we tell ourselves to celebrate each euphoric ring on the cash register. What follows, however, are questions of doubt that plague even the most seasoned of shopaholics: Can I afford this? Can I really find good uses for this? Can this new car really fix my hair loss? According to a new study by SMU marketing professor Jane …

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Housekeeping For Regulators Of Volatile Housing Markets, Knowledge@Smu Nov 2009

Housekeeping For Regulators Of Volatile Housing Markets, Knowledge@Smu

Knowledge@SMU

World housing markets have gone through a volatile period of boom and bust, triggering the financial crisis and subsequent economic downturn. While it might be tempting for governments to contemplate on housing bubbles by means of monetary policy or direct controls over housing prices, such moves are far more complicated than it seems. Housing prices are influenced by various factors and governments have a limited handle on them at best. Raising interest affects other sectors of the economy - not just housing. So what can governments do? What should be the ultimate goal of housing policy?

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