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Full-Text Articles in Business

An Actor-Focused Model Of Justice Rule Adherence And Violation: The Role Of Managerial Motives And Discretion., Brent A. Scott, Jason A. Colquitt, E. Layne Paddock May 2009

An Actor-Focused Model Of Justice Rule Adherence And Violation: The Role Of Managerial Motives And Discretion., Brent A. Scott, Jason A. Colquitt, E. Layne Paddock

Research Collection Lee Kong Chian School Of Business

Research on organizational justice has focused primarily on the receivers of just and unjust treatment. Little is known about why managers adhere to or violate rules of justice in the first place. The authors introduce a model for understanding justice rule adherence and violation. They identify both cognitive motives and affective motives that explain why managers adhere to and violate justice rules. They also draw distinctions among the justice rules by specifying which rules offer managers more or less discretion in their execution. They then describe how motives and discretion interact to influence justice-relevant actions. Finally, the authors incorporate managers' …

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Residual State Ownership, Policy Stability And Financial Performance Following Strategic Decisions By Privatizing Telecoms, Paul M. Vaaler, Burkhard N. Schrage May 2009

Residual State Ownership, Policy Stability And Financial Performance Following Strategic Decisions By Privatizing Telecoms, Paul M. Vaaler, Burkhard N. Schrage

Research Collection Lee Kong Chian School Of Business

We question previous research assuming that privatizing firm performance generally benefits from decreasing state ownership and the passage of time, both of which purportedly align principal-agent incentives promoting organizational decision-making that increases shareholder value. When state ownership shifts from majority and controlling to minority and non-controlling, the performance impact may be positive in the short run, particularly where there is instability in the local investment policy environment. Consistent with this proposition, we develop and test hypotheses derived from a minority and non-controlling or residual state ownership framework, grounded in credible privatization and institutional theory. We propose that: (1) residual state …

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Are Online Auction Markets Efficient? An Empirical Study Of Market Liquidity And Abnormal Returns., Robert J. Kauffman, Trent J Spaulding, Charles A. Wood May 2009

Are Online Auction Markets Efficient? An Empirical Study Of Market Liquidity And Abnormal Returns., Robert J. Kauffman, Trent J Spaulding, Charles A. Wood

Research Collection School Of Computing and Information Systems

Technological advances have facilitated investment in collectibles through online auction markets, where information regarding product characteristics, current and historical prices, and product availability is available to millions of market participants. However, market inefficiencies may still exist, where prices do not reflect market information and where savvy speculators can profit. Using unit root and variance ratio tests, we examine 8538 rare stamp and 56,997 rare coin auctions to evaluate the efficiency of online markets. In particular, we study market liquidity, abnormal returns and weak-form efficiency. We find an inverse relationship between market efficiency and liquidity. Bidder competition intrinsic to liquidity increases …

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An Agent-Based Commodity Trading Simulation, Shih-Fen Cheng, Yee Pin Lim, Chao-Chi Liu May 2009

An Agent-Based Commodity Trading Simulation, Shih-Fen Cheng, Yee Pin Lim, Chao-Chi Liu

Research Collection School Of Computing and Information Systems

In recent years, the study of trading in electronic markets has received significant amount of attention, particularly in the areas of artificial intelligence and electronic commerce. With increasingly sophisticated technologies being applied in analyzing information and making decisions, fully autonomous software agents are expected to take up significant roles in many important fields. This trend is most obvious in the financial domain, where speed of reaction is highly valued and significant investments have been made in information and communication technologies.Despite the successes of automated trading in many important classes of financial markets, commodity trading has lagged behind, mainly because of …

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Liquidity And Hedge Funds, Melvyn Teo Apr 2009

Liquidity And Hedge Funds, Melvyn Teo

Research Collection BNP Paribas Hedge Fund Centre

Market liquidity profoundly impacts hedge funds. Funds trading illiquid securities earns significant risk premium, report smoother returns, can better leverage on information asymmetries, and grapple with stronger capacity constraints. Importantly, the funding liquidity of hedge funds, or their ease of obtaining financing, can have a significant effect on the market liquidity of the securities they trade in, creating a downward liquidity spiral during economic downturns. We review the academic literature and deliver insights that resonate with recent market events.

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Invasion Of The Charitable Kind, Knowledge@Smu Apr 2009

Invasion Of The Charitable Kind, Knowledge@Smu

Knowledge@SMU

Are sustained philanthropic contributions over a long-term period more attractive than a one-off donation? It may seem so at first. However, continuous funding calls for non-profit organisations to enter into a high-involvement relationship with donors. “It is as important for the donors to learn and understand the non-profit sector and social issues, as it is for them to give and volunteer,” explained Ruth Jones, executive director of SVP International.

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Customer Satisfaction Index Of Singapore: Executive Summary 2008, Institute Of Service Excellence, Smu Apr 2009

Customer Satisfaction Index Of Singapore: Executive Summary 2008, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence (2007-2024)

The Institute of Service Excellence at Singapore Management University (ISES) was appointed by the Singapore Workforce Development Agency (WDA) to implement and maintain an annual benchmark for the services sectors in Singapore. The Customer Satisfaction Index of Singapore (CSISG) was first launched in April 2008 based on data collected from a nationwide survey conducted in 2007. In this second year, the results of CSISG 2008 were derived from the survey data gathered between November 2008 and January 2009.

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High Self-Monitors: A Chameleon, A Magnet, A Leader, Knowledge@Smu Apr 2009

High Self-Monitors: A Chameleon, A Magnet, A Leader, Knowledge@Smu

Knowledge@SMU

A recent study has shown that high self-monitors – people who easily adjust their attitudes and behaviours to the social situation – tend to emerge as leaders naturally. Yet, low self-monitors – those who are consistent in attitudes and behaviours regardless of the environment – are often placed in positions of authority. Martin Kilduff, a management professor at the University of Cambridge examines the abilities of an emerging breed of leaders; the high self-monitors.

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Cultural Analytics: A New Field That Combines Arts, Media And It, Knowledge@Smu Apr 2009

Cultural Analytics: A New Field That Combines Arts, Media And It, Knowledge@Smu

Knowledge@SMU

The volume of digital data is exploding, driven largely by visuals, text, video and other cultural content. Just about everyone can be a “culture professional”. Thus, there is a need to find ways to track and make sense of the growing cultural data volume. Cultural analytics, as this new field is called, is a combination and extension of arts, media and IT. The study of this field will have applications far and wide-ranging, says Lev Manovich, a professor of visual arts at University of California.

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A Red Devils-Inspired Parallel In The Re-Branding Of Aig?, Knowledge@Smu Apr 2009

A Red Devils-Inspired Parallel In The Re-Branding Of Aig?, Knowledge@Smu

Knowledge@SMU

AIG’s sponsorship of Manchester United has given the insurance giant a big boost in brand visibility. However, before more value can be extracted from the $107 million deal, the financial crisis hit. Coupled with the on-going outrage over AIG’s legal obligations to pay bonuses to the Financial Products division -- the same business unit that caused most of its financial issues, the company is suffering from unprecedented damage to its credibility and branding. Steps are being taken to re-brand the company. How can this be more effective?

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Guanxi Vs Networking: Distinctive Configurations Of Affect And Cognition Based Trust In The Networks Of Chinese Vs American Managers, Roy Chua, Michael W. Morris, Paul Ingram Apr 2009

Guanxi Vs Networking: Distinctive Configurations Of Affect And Cognition Based Trust In The Networks Of Chinese Vs American Managers, Roy Chua, Michael W. Morris, Paul Ingram

Research Collection Lee Kong Chian School Of Business

This research investigates hypotheses about differences between Chinese and American managers in the configuration of trusting relationships within their professional networks. Consistent with hypotheses about Chinese familial collectivism, an egocentric network survey found that affect- and cognitionbased trust were more intertwined for Chinese than for American managers. In addition, the effect of economic exchange on affect-based trust was more positive for Chinese than for Americans, whereas the effect of friendship was more positive for Americans than for Chinese. Finally, the extent to which a given relationship was highly embedded in ties to third parties increased cognition-based trust for Chinese but …

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Measurement Equivalence Of Paper-And-Pencil And Internet Organisational Surveys: A Large Scale Examination In 16 Countries, Alain De Beuckelaer, Filip Lievens Apr 2009

Measurement Equivalence Of Paper-And-Pencil And Internet Organisational Surveys: A Large Scale Examination In 16 Countries, Alain De Beuckelaer, Filip Lievens

Research Collection Lee Kong Chian School Of Business

In multinational surveys, mixed-mode administration modes (e.g. combining Internet and paper-and-pencil administration) are increasingly used. To date, no studies have investigated whether measurement equivalence exists between Internet data collection and data collection using the conventional paper-and-pencil method in organisational surveys which include a large number of countries. This paper examined the measurement equivalence of a truly global organisational survey across Internet and paper-and-pencil survey administrations. Data from an organisational survey in 16 countries (N = 52,461) across the globe were used to assess the measurement equivalence of an organisational climate measure within each country in which the survey was administered. …

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Extreme Events And The Copula Pricing Of Commercial Mortgage-Backed Securities, Zhanyong Liu, Gang-Zhi Fan, Kian Guan Lim Apr 2009

Extreme Events And The Copula Pricing Of Commercial Mortgage-Backed Securities, Zhanyong Liu, Gang-Zhi Fan, Kian Guan Lim

Research Collection Lee Kong Chian School Of Business

Commercial mortgage-backed securities (CMBS), as a portfolio-based financial product, have gained great popularity in financial markets. This paper extends Childs, Ott and Riddiough’s (J Financ Quant Anal, 31(4), 581–603, 1996) model by proposing a copula-based methodology for pricing CMBS bonds. Default on underlying commercial mortgages within a pool is a crucial risk associated with CMBS transactions. Two important issues associated with such default—extreme events and default dependencies among the mortgages—have been identified to play crucial roles in determining credit risk in the pooled commercial mortgage portfolios. This article pays particular attention to these two issues in pricing CMBS bonds. Our …

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Guanxi Versus Networking: Distinctive Configurations Of Affect- And Cognition-Based Trust In The Networks Of Chinese And American Managers, Roy Y. J. Chua, Michael W. Morris, Paul Ingram Apr 2009

Guanxi Versus Networking: Distinctive Configurations Of Affect- And Cognition-Based Trust In The Networks Of Chinese And American Managers, Roy Y. J. Chua, Michael W. Morris, Paul Ingram

Research Collection Lee Kong Chian School Of Business

This research investigates hypotheses about differences between Chinese and American managers in the configuration of trusting relationships within their professional networks. Consistent with hypotheses about Chinese familial collectivism, an egocentric network survey found that affect- and cognition-based trust were more intertwined for Chinese than for American managers. In addition, the effect of economic exchange on affect-based trust was more positive for Chinese than for Americans, whereas the effect of friendship was more positive for Americans than for Chinese. Finally, the extent to which a given relationship was highly embedded in ties to third parties increased cognition-based trust for Chinese but …

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The Strategies Of Chinese And Indian Software Multinationals: Implications For Internationalization Theory, Jorge Niosi, F. Ted Tschang Apr 2009

The Strategies Of Chinese And Indian Software Multinationals: Implications For Internationalization Theory, Jorge Niosi, F. Ted Tschang

Research Collection Lee Kong Chian School Of Business

China and India are emerging as major entrants into the international software industry. Both are rapidly learning through outsourcing with multinational enterprises (MNEs) from advanced nations, yet their paths to this dynamic sector are very different. Chinese software firms have focused on their domestic market by working with foreign MNEs, while they move cautiously abroad. Indian firms, which are already large, continue to expand overseas as well as to climb the value chain. Different approaches to MNEs provide useful perspectives. At the same time, the innovation systems approach is necessary to explain the foundations of the industry. The article provides …

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Optimal Digital Content Distribution Strategy In The Presence Of Consumer-To-Consumer Channel, Yunfang Feng, Zhiling Guo, Wei-Yu Kevin Chiang Apr 2009

Optimal Digital Content Distribution Strategy In The Presence Of Consumer-To-Consumer Channel, Yunfang Feng, Zhiling Guo, Wei-Yu Kevin Chiang

Research Collection School Of Computing and Information Systems

Although the online business-to-consumer (B2C) channel is the primary selling channel for digital content (e.g., videos, images, and music), modern digital technology has made possible the legal dissemination of such content over the consumer-to-consumer (C2C) channel through personal computing devices, such as PCs, mobile phones, and portable media players. This paper investigates the optimal channel structure and the corresponding pricing and service strategies for digital content distribution in order to understand the business value of introducing the C2C channel alongside the prevailing B2C channel. We identify conditions under which it is more profitable to use both B2C and C2C channels …

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Drawing Talent Management Lessons From Supply Chain Practices, Knowledge@Smu Mar 2009

Drawing Talent Management Lessons From Supply Chain Practices, Knowledge@Smu

Knowledge@SMU

The concept of “just-in-time” supply chain management allows manufacturers to stay nimble, flexible, and meet ever-changing demands. Companies can borrow similar ideas in managing and developing their workforce, said Wharton management professor Peter Cappelli in a recent seminar at Singapore Management University. The commonly practised talent management processes were developed decades ago. It is now time for a change.

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Cooperation Along The Supply Chain As A Means To Weather The Downturn, Knowledge@Smu Mar 2009

Cooperation Along The Supply Chain As A Means To Weather The Downturn, Knowledge@Smu

Knowledge@SMU

Global economic uncertainty is making manufacturers and supply chain managers think long, hard and differently. They need to adjust to a growing number of variables, like raw material prices and shifting market demands. Banks are also reluctant to lend. The bad news: no one can say when the good old days will return. Yet, companies in the supply chain need not act alone. They should pool their risks and use the crisis as an opportunity to implement new strategies and ride this out together.

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Book Review: Battle Begins For The Wallets Of 500 Million Indian Consumers, Knowledge@Smu Mar 2009

Book Review: Battle Begins For The Wallets Of 500 Million Indian Consumers, Knowledge@Smu

Knowledge@SMU

The kiranas, or corner mom-and-pop stores, have been the mainstay of India’s retail scene. As the country’s economy develops and income levels rise, taste and preferences of Indian consumers are also changing. Increasingly, the country’s retail industry is attracting large companies in so-called “organised retail”, where big supermarket chains are set to provide an entirely different shopping experience for the estimated 500 million Indian consumers with significant income to spend. While the opportunities are obvious, what are the challenges?

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Cue Usage In Financial Statement Fraud Risk Assessments: Effects Of Technical Knowledge And Decision Aid Use, Jean Lin Seow Mar 2009

Cue Usage In Financial Statement Fraud Risk Assessments: Effects Of Technical Knowledge And Decision Aid Use, Jean Lin Seow

Research Collection School Of Accountancy

This paper investigates the effects of technical knowledge and decision aid use on financial statement fraud risk assessments made by directors and students. More extreme fraud risk assessments are made when participants identify and process larger (smaller) numbers of diagnostic (non-diagnostic) factors, with technical knowledge driving diagnostic factor identification. Significant decision aid-technical knowledge effects are also found; decision aid use has a detrimental effect on high-knowledge directors while improving performance in inexperienced, low-knowledge students. These results suggest that although decision aids can afford gains in performance in inexperienced users, they can have unintended and/or paradoxical behavioural effects on experienced users.

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How To Distinguish Smart Big Moves From Stupid Ones, Paul Strebel, Anne-Valerie Ohlsson-Corboz Mar 2009

How To Distinguish Smart Big Moves From Stupid Ones, Paul Strebel, Anne-Valerie Ohlsson-Corboz

Research Collection Lee Kong Chian School Of Business

When top executives undertake big moves – dramatic shifts in strategic direction – their decisions can make or break a company. This paper aims to offer a methodology for cutting the risks of making a catastrophic misstep. To avoid a corporate disaster and increase the chances of a smart and ultimately successful big move the paper raises six critical questions that must be answered honestly and unequivocally by managers. The research indicates that there are five classic types of big move, each corresponding to a different position on the corporate performance curve: finding a new game; going for growth; getting …

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The Evolution And Utilization Of The Gatt/Wto Dispute Settlement Mechanism, Pao Li Chang Mar 2009

The Evolution And Utilization Of The Gatt/Wto Dispute Settlement Mechanism, Pao Li Chang

Research Collection School Of Economics

This paper attempts to study the usage of the GATT/WTO dispute settlement mechanism and to explain its patterns across different regimes and decades, using a unified theoretical model. This study first explores the role of the degree of legal controversy over a panel ruling in determining countries’ incentives to block/appeal a panel report under the GATT/WTO regime. The model is able to explain the surge in blocking incidence during the 1980s over the preceding GATT years and the immense frequency at which the new appellate procedure under the WTO is invoked. Furthermore, a two-sided asymmetric information framework is used to …

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India Unleashed, Nirmalya Kumar Mar 2009

India Unleashed, Nirmalya Kumar

Research Collection Lee Kong Chian School Of Business

Corporations in the developed world increasingly see India as a high-growth market and its companies as acquirers of their assets, global competitors, partners for enhancing the competitiveness of their global value chain and a source of new energy and dreams for the world economy. How did this all happen? The author shares the essence of what he learned from 10 trips to India to interview more than 30 CEOs and top executives who are unleashing the new global power of Indian firms.

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Tapping The Grapevine: A Closer Look At Word-Of-Mouth As A Recruitment Source, Greet Van Hoye, Filip Lievens Mar 2009

Tapping The Grapevine: A Closer Look At Word-Of-Mouth As A Recruitment Source, Greet Van Hoye, Filip Lievens

Research Collection Lee Kong Chian School Of Business

To advance knowledge of word-of-mouth as a company-independent recruitment source, this study draws on conceptualizations of word-of-mouth in the marketing literature. The sample consisted of 612 potential applicants targeted by the Belgian Defense. Consistent with the recipient-source framework, time spent receiving positive word-of-mouth was determined by the traits of the recipient (extraversion and conscientiousness), the characteristics of the source (perceived expertise), and their mutual relationship (tie strength). Only conscientiousness and source expertise were determinants of receiving negative word-of-mouth. In line with the accessibility-diagnosticity model, receiving positive employment information through word-of-mouth early in the recruitment process was positively associated with perceptual …

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The Impact Of The Options Backdating Scandal On Shareholders, Gennaro Bernile, Gregg Jarrell Mar 2009

The Impact Of The Options Backdating Scandal On Shareholders, Gennaro Bernile, Gregg Jarrell

Research Collection Lee Kong Chian School Of Business

The revelation that scores of firms engaged in the illegal manipulation of stock options’ grant dates (i.e. “backdating”) captured much public attention. The evidence indicates that the consequences stemming from management misconduct and misrepresentation are of first-order importance in this context as shareholders of firms accused of backdating experience large negative, statistically significant abnormal returns. Furthermore, shareholders’ losses are directly related to firms’ likely culpability and the magnitude of the resulting restatements, despite the limited cash flow implications. And, tellingly, the losses are attenuated when tainted management of less successful firms is more likely to be replaced and relatively many …

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Different Fits Satisfy Different Needs: Linking Person-Environment Fit To Employee Commitment And Performance Using Self-Determination Theory, Gary J. Greguras, James M. Diefendorff Mar 2009

Different Fits Satisfy Different Needs: Linking Person-Environment Fit To Employee Commitment And Performance Using Self-Determination Theory, Gary J. Greguras, James M. Diefendorff

Research Collection Lee Kong Chian School Of Business

Integrating and expanding upon the person-environment fit (PE fit) and the self-determination theory literatures, the authors hypothesized and tested a model in which the satisfaction of the psychological needs for autonomy, relatedness, and competence partially mediated the relations between different types of perceived PE fit (i.e., person-organization fit, person-group fit, and job demands-abilities fit) with employee affective organizational commitment and overall job performance. Data from 163 full-time working employees and their supervisors were collected across 3 time periods. Results indicate that different types of PE fit predicted different types of psychological need satisfaction trod that psychological need satisfaction predicted affective …

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The Association Between Institutional Ownership And Audit Properties, Soongsoo Han, Tony Kang, Lynn Reesc Mar 2009

The Association Between Institutional Ownership And Audit Properties, Soongsoo Han, Tony Kang, Lynn Reesc

Research Collection School Of Accountancy

In this study, we examine how institutional ownership affects the quality and riskiness of the financial statement audit. We hypothesize that institutional investors can influence corporate policy to employ governance mechanisms that reduce their monitoring costs. Our evidence shows that firms are more likely to hire a Big 4 auditor (our proxy for audit quality) when long-term institutional ownership is high, suggesting that long-term institutional investors view high quality audits as a viable means of improving corporate governance while reducing their direct monitoring costs. We find no association between auditor choice and short-term institutional ownership. Next, we find that auditors …

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Initial Attraction To Organizations: The Influence Of Trait Inferences, Jerel E. Slaughter, Gary J. Greguras Mar 2009

Initial Attraction To Organizations: The Influence Of Trait Inferences, Jerel E. Slaughter, Gary J. Greguras

Research Collection Lee Kong Chian School Of Business

Organization personality perceptions have been defined as the set of personality characteristics associated with organizations. Previous research supports five distinct factors of organization personality perceptions: Boy Scout, Innovativeness, Dominance, Thrift, and Style. The purpose of this research was to understand how individuals' initial attraction to firms is influenced by their perceptions of the degree to which firms display these traits. Results of the present investigation indicated that organization personality perceptions accounted for significant variance in initial organizational attraction, after controlling for perceptions of the degree to which the jobs at the organizations offer traditional attributes. In addition, several self-rated Big …

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Second Stage Development Of The Integrated Crisis Mapping (Icm) Model In Crisis Communication: Organizational Strategies For Crises That Require High And Low Organizational Engagements, Augustine Pang, Yan Jin, Glen T. Cameron Mar 2009

Second Stage Development Of The Integrated Crisis Mapping (Icm) Model In Crisis Communication: Organizational Strategies For Crises That Require High And Low Organizational Engagements, Augustine Pang, Yan Jin, Glen T. Cameron

Research Collection Lee Kong Chian School Of Business

Extending current theories in crisis communication, the authors have developed a moresystemic approach to understanding the role of emotions. The Integrated Crisis Mapping (ICM)model is based on a public-based, emotion-driven perspective where different crises aremapped on two continua, the organization’s engagement in the crisis and primary public’scoping strategy. This second-stage testing, representing the fourth in the series, found that ontop of discovering anxiety as a possible default emotion that publics feel in crises in an earlierstudy, the default response organizations embroiled in crises involving hostile takeovers,accidents, natural disasters, CEO retirement, rumor, and psychopathic acts, tend to adopt isqualified rhetoric-mix stance …

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Final Stage Development Of The Integrated Crisis Mapping (Icm) Model In Crisis Communication: The Myth Of Low Engagement In Crisis, A. Pang, Yan Jin, Glen T. Cameron Mar 2009

Final Stage Development Of The Integrated Crisis Mapping (Icm) Model In Crisis Communication: The Myth Of Low Engagement In Crisis, A. Pang, Yan Jin, Glen T. Cameron

Research Collection Lee Kong Chian School Of Business

Extending current theories in crisis communication, the authors have developed a more systemic approach to understanding the role of emotions. The Integrated Crisis Mapping (ICM) model is based on a public-based, emotion-driven perspective where different crises are mapped on two continua, the organization’s engagement in the crisis and primary public’s coping strategy. This final-stage testing, representing the sixth in the series, found that even though organizations need not be highly engaged in crises relating to human resource, transport failure and security issues, they were galvanized to engage in action-based stance by situational factors like external threats. The fact that the …

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