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Articles 5731 - 5760 of 6934
Full-Text Articles in Business
Book Review: Martin Posth’S 1000 Days In Shanghai – The Story Of Volkswagen, Knowledge@Smu
Book Review: Martin Posth’S 1000 Days In Shanghai – The Story Of Volkswagen, Knowledge@Smu
Knowledge@SMU
Today China is the second largest and fastest growing car market in the world. Martin Posth helped build and lead joint venture company Shanghai Volkswagen Automotive Company from “below zero”. His first person narrative, 1000 Days in Shanghai: The Story of Volkswagen - the First Chinese-German Car Factory, is crammed with invaluable experiences and lessons drawn from an interesting chapter in the development of China’s car industry.
Create, Connect, Convince: Jörg Dietzel On Advertising, Branding And Communications, Knowledge@Smu
Create, Connect, Convince: Jörg Dietzel On Advertising, Branding And Communications, Knowledge@Smu
Knowledge@SMU
Advertising veteran, Jörg Dietzel, runs his own company, Jörg Dietzel Brand Consultants, in Singapore and Jakarta. He also teaches classes in branding, advertising and communications at the Singapore Management University, and is currently hosting a four-part TV series, “The Consultant”, produced by Channel News Asia. Knowledge@SMU spoke to Dietzel about his new book, Create l Connect l Convince.
Subprime Lending: Did It Lead To The Real Estate Boom And Bust?, Knowledge@Smu
Subprime Lending: Did It Lead To The Real Estate Boom And Bust?, Knowledge@Smu
Knowledge@SMU
Is there a link between the availability of aggressive home loan lending and the price of homes? In a paper presented at the Far East and South Asian Meeting of the Econometric Society 2008, hosted by the Singapore Management University, Wharton professors Susan Wachter and Andrey Pavlov show that it is the fluctuation in the use of aggressive instruments which exacerbates the market downturns, and not the fact that such instruments generate higher default rates.
The Asian Banker: From Trade Journal To Industry Benchmark Setter, Knowledge@Smu
The Asian Banker: From Trade Journal To Industry Benchmark Setter, Knowledge@Smu
Knowledge@SMU
Emmanuel Daniel is founding president and editor-in-chief of The Asian Banker, one of the region’s leading consultancies in financial services research, benchmarking and intelligence. A trade publisher should provide leadership and not be a follower of the industry that it covers, believes Daniel, who spoke recently at a Masters Seminar on benchmarking and measuring IT performance in banks organised by the School of Information Systems, Singapore Management University.
Dynamic Allocation Of Airline Check-In Counters: A Queueing Optimisation Approach, Mahmut Parlar, Sharafali Moosa
Dynamic Allocation Of Airline Check-In Counters: A Queueing Optimisation Approach, Mahmut Parlar, Sharafali Moosa
Research Collection Lee Kong Chian School Of Business
This paper was motivated by an observation in an international airport with regard to allocation of resources for check-in counters. In an exclusive check-in counter system, each flight has a dedicated number of counters that will be open until at least a half-hour before the scheduled departure of that flight. Currently, in many of the airports around the world, the decision to open or close check-in counters is done on an ad hoc basis by human schedulers. In doing so, the schedulers are almost always forced to perform a balancing act in meeting the quality of service stipulated by the …
Managerial Ownership And Firms' Information Environment, Soongsoo Han, Tony Kang, Gerald Lobo
Managerial Ownership And Firms' Information Environment, Soongsoo Han, Tony Kang, Gerald Lobo
Research Collection School Of Accountancy
We examine the relation between managerial stock ownership and the firm’s information environment. We focus on three dimensions of the information environment: total, public, and private information precision (Barron, Kim, Lim and Stevens 1998). Our results suggest that firms’ total and public information precision are positively related to managerial ownership. In contrast, there is no clear pattern in private information precision across different levels of managerial ownership. We also observe that managerial ownership has a greater impact on the firm’s public information environment after the implementation of Regulation Fair Disclosure, suggesting that the regulation was effective in improving the firms’ …
The Pricing Strategy Analysis For The Software-As-A-Service Business Model, Dan Ma, Abraham Seidmann
The Pricing Strategy Analysis For The Software-As-A-Service Business Model, Dan Ma, Abraham Seidmann
Research Collection School Of Computing and Information Systems
The Software-as-a-Service (SaaS) model is a novel way of delivering software applications. In this paper, we present an analytical model to study the competition between the SaaS and the traditional COTS (Commercial off-the-shelf) software. The main research goal is to analyze the pricing strategy of the SaaS in a competitive setting. The model captures the most salient differences between the SaaS and COTS, including their distinct pricing structures, user initial setup costs, system customization levels, and delivery channels. We find that the two could coexist in a competitive market in the long run, and more importantly, we show how the …
Relationship Preserving Auction For Repeated E-Procurement, Park J., Lee J., Lau H.
Relationship Preserving Auction For Repeated E-Procurement, Park J., Lee J., Lau H.
Research Collection School Of Computing and Information Systems
While e-procurement auction has helped firms to achieve lower procurement costs, auction mechanisms that prevail at present in procurement markets need to address an important issue that concerns the ability to maintain long term relationships with the partners, especially in repeated e-procurement settings. In this paper, we propose a Relationship Preserving Auction (RPA) mechanism that augments the conventional auction mechanism with a bidder relationship scoring model. Our proposed mechanism gives increased chances of winning to the bidders who have bidden at relatively competitive price but had comparatively less wins so far. Keeping these bidders in the auction over time will …
An Integrated Decision– Making Approach For Improving European Air Traffic Management, Yael Gruksha-Cockayne, Bert De Reyck, Zeger Degraeve
An Integrated Decision– Making Approach For Improving European Air Traffic Management, Yael Gruksha-Cockayne, Bert De Reyck, Zeger Degraeve
Research Collection Lee Kong Chian School Of Business
We develop a multistakeholder, multicriteria decision-making framework for Eurocontrol, the European air traffic management organization, for evaluating and selecting operational improvements to the air traffic management system. The selected set of improvements will form the master plan of the Single European Sky initiative for harmonizing air traffic, in an effort to cope with the forecasted increase in air traffic, while maintaining safety, protecting the environment, and improving predictability and efficiency. The challenge is to select the set of enhancements such that the required performance targets are met and all key stakeholders are committed to the decisions. In this paper, we …
Momentum And Informed Trading, A. Hameed, Dong Hong, Mitchell Craig Warachka
Momentum And Informed Trading, A. Hameed, Dong Hong, Mitchell Craig Warachka
Research Collection Lee Kong Chian School Of Business
Consistent with the predictions of Wang (1994), we document that firm-specific informed trading is an important determinant of price momentum. The stronger return continuation in stocks with more informed trading cannot be explained by cross-sectional differences in uncertainty proxies such as analyst forecast dispersion, analyst coverage, idiosyncratic return volatility, and size. The relationship between informed trading and return continuation is also not attributable to cross-sectional differences in liquidity. Instead, our evidence emphasizes the role of price discovery in generating short-term price momentum.
The Influence Of Past Negotiations On Negotiation Counterpart Preferences, Jochen Reb
The Influence Of Past Negotiations On Negotiation Counterpart Preferences, Jochen Reb
Research Collection Lee Kong Chian School Of Business
Choosing the right counterpart can have a significant impact on negotiation success. Unfortunately, little research has studied such negotiation counterpart decisions. Three studies examined the influence of past negotiations on preferences to negotiate again with a counterpart. Study 1 found that the more favorable a past negotiated agreement the stronger the preference to negotiate with the counterpart in the future. Moreover, this relation was mediated through liking of the counterpart. Study 2 manipulated the difficulty of achieving a favorable agreement in the negotiation and found a significant effect of this situational factor such that subsequent counterpart preferences were less favorable …
Being Naive About Naive Diversification: Can Investment Theory Be Consistently Useful?, Jun Tu, Guofu Zhou
Being Naive About Naive Diversification: Can Investment Theory Be Consistently Useful?, Jun Tu, Guofu Zhou
Research Collection Lee Kong Chian School Of Business
The modern portfolio theory pioneered by Markowitz (1952) is widely used in practice and taught in MBA texts. DeMiguel, Garlappi and Uppal (2007), however, show that, due to estimation errors, existing theory-based portfolio strategies are not as good as we once thought, and the estimation window needed for them to beat the naive $1/N$ strategy (that invests equally across N risky assets) is 'around 3000 months for a portfolio with 25 assets and about 6000 months for a portfolio with 50 assets.' In this paper, we modify the modern portfolio theory to account for estimation errors, so that the theory …
Does Earnings Quality Affect Information Asymmetry: Evidence From Trading Costs, Nilabhra Bhattacharya, Hemang Desai, Kumar Venkataraman
Does Earnings Quality Affect Information Asymmetry: Evidence From Trading Costs, Nilabhra Bhattacharya, Hemang Desai, Kumar Venkataraman
Research Collection School Of Accountancy
The adverse consequences of poor earnings quality have been the subject of significant debate among academics, practitioners and regulators. However, the empirical evidence on pricing implications of earnings quality is sparse and controversial. We examine one potential consequence of poor earnings quality - its impact on information asymmetry. We document that poor earnings quality increases the adverse selection risk as manifested in trading costs and lowers liquidity in financial markets. Both innate and discretionary components of earnings quality contribute significantly to information asymmetry. Further, poor earnings quality exacerbates information asymmetry around earnings announcements, especially for firms where earnings represent the …
Learning Outcomes For A Business Information Systems Undergraduate Program, Joelle Elmaleh, Steven Miller, Paul S. Goodman
Learning Outcomes For A Business Information Systems Undergraduate Program, Joelle Elmaleh, Steven Miller, Paul S. Goodman
Research Collection School Of Computing and Information Systems
We present a learning outcomes framework for an Information Systems (IS) undergraduate program. This framework includes a supporting software application that goes beyond any other attempt reported to date to integrate learning outcomes into program-wide and course-wide curriculum development, ongoing curriculum redesign, and student learning support. The Learning Outcomes Management System (LOMS) described here is a first-of-a-kind information system created as part of implementing a program-wide learning outcomes framework in a university setting. Our learning outcomes framework is distinct in that 1) it is based on a three-level hierarchically structured definition of learning outcomes that consistently apply to both the …
Hedge Funds In A Volatile Market, Melvyn Teo
Hedge Funds In A Volatile Market, Melvyn Teo
Research Collection BNP Paribas Hedge Fund Centre
We show that relative to the first half of 2007, the volatility of hedge fund returns has doubled during the September 2007 to April 2008 period. At the same time, aggregate hedge fund returns have declined while exit rates have tripled. Commodity, macro, and, to a lesser extent, arbitrage funds outperformed during this period, while bottom-up funds underperformed. In Asia, funds engaging in less traditional strategies like arbitrage, event driven, fixed income, and distressed debt have emerged relatively unscathed. Our results also suggest that around the world, funds with headquarters near their investment markets, fewer assets under management, and higher …
How To Stand Out In The Crowd? Innovate, Innovate, Innovate., Knowledge@Smu
How To Stand Out In The Crowd? Innovate, Innovate, Innovate., Knowledge@Smu
Knowledge@SMU
In the world of marketing and branding, sticking out like a sore thumb is not necessarily a bad thing, advises brand innovation specialist Chandran Dharmarajan, co-founder of I-morph, a marketing innovation consultancy based in Singapore. Dharmarajan, who worked for over a decade with Unilever in India and Thailand followed by a stint with Kraft Foods Asia Pacific, spoke at a recent seminar, “Transform Your Business By Being Remarkable”, organised by the UOB-SMU Entrepreneurship Alliance Centre of the Singapore Management University.
Lien Centre’S Social Space Turns The Spotlight On Social Enterprise And Innovation, Knowledge@Smu
Lien Centre’S Social Space Turns The Spotlight On Social Enterprise And Innovation, Knowledge@Smu
Knowledge@SMU
The Lien Centre of the Singapore Management University was set up in 2006 with support from the Lien Foundation to serve as a catalyst for social innovation and change in Singapore. The Centre will launch an inaugural volume, Social Space, in August 2008. Lien Centre Board Chairman, Willie Cheng, talked to Knowledge@SMU about the book, the overall aims of the centre, and his own thinking on social enterprise, innovation and entrepreneurship. Cheng was formerly country managing director for Accenture and is actively involved in the nonprofit sector in Singapore.
John Davis On Sports Sponsorship And Branding, Knowledge@Smu
John Davis On Sports Sponsorship And Branding, Knowledge@Smu
Knowledge@SMU
Marketing professor John Davis is director of the Centre for Marketing Excellence at the Lee Kong Chian School of Business, Singapore Management University. In his new book, The Olympic Games Effect, to be published by John Wiley in the run up to the Beijing Olympics, Davis examines why companies and even host cities and countries invest so heavily in sports sponsorship and branding. He also offers valuable lessons -- drawn from a rich collection of real-lfe examples -- on the risks involved, and how to maximise returns from these investments should businesses decide to go down this route.
Herd Behaviour In Financial Markets: Do Traders Follow The Crowd Or Do Their Own Thing?, Knowledge@Smu
Herd Behaviour In Financial Markets: Do Traders Follow The Crowd Or Do Their Own Thing?, Knowledge@Smu
Knowledge@SMU
In financial markets, what part of a trader’s action is simply “following the crowd” or herding, and how much is based on the trader’s own information? Herding has been shown to decrease the stability and efficiency of markets, hence the interest in these behaviours. Marco Cipriani (Asian Division, IMF Institute) and Antonio Guarino (University College London) studied herd behaviour in a laboratory setting involving financial market professionals. Cipriani presented a co-authored IMF working paper on herd behaviour in financial markets at a recent seminar at the Singapore Management University. --------------------------------------------------------------------------------
The Rise Of Agrarian Capitalism With Chinese Characteristics: Agricultural Modernization, Agribusiness And Collective Land Rights, Qian Forrest Zhang, John A. Donaldson
The Rise Of Agrarian Capitalism With Chinese Characteristics: Agricultural Modernization, Agribusiness And Collective Land Rights, Qian Forrest Zhang, John A. Donaldson
Research Collection School of Social Sciences
The article discusses the agricultural transformation taking place in the rural areas of China. Details about the Chinese laws regarding rural reform and the effect they have had on rural Chinese farmers and families are included. The authors examine the expansion of agrarian capitalism in China and describe the rise of agribusiness in rural Chinese areas. The practices of Chinese agribusinesses and the Chinese land rights laws are explored. The relationships between individual farmers and agribusinesses is also examined.
Examining Differential Item Functioning Of The Rosenberg Self-Esteem Scale Across Eight Countries (In Press), Lisa E. Baranik, Adam W. Meade, Chad E. Lakey, Charles E. Lance, Changya Hu, Wei Hua, Alex Michalos
Examining Differential Item Functioning Of The Rosenberg Self-Esteem Scale Across Eight Countries (In Press), Lisa E. Baranik, Adam W. Meade, Chad E. Lakey, Charles E. Lance, Changya Hu, Wei Hua, Alex Michalos
Research Collection Lee Kong Chian School Of Business
We examined the differential item functioning (DIF) of Rosenberg's (1965) Self-Esteem Scale (RSES) and compared scores from U.S. participants with those from 7 other countries: Canada, Germany, New Zealand, Kenya, South Africa, Singapore, and Taiwan. Results indicate that DIF was present in all comparisons. Moreover, controlling for latent self-esteem, participants from individualistic countries had an easier time reporting high self-esteem on self-competence-related items, whereas participants from communal countries had an easier time reporting high self-esteem on self-liking items (Tafarodi & Milne, 2002). After adjusting for DIF, we found larger mean self-esteem differences between the countries than observed scores initially indicated. …
Strategic Orientation Of High-Technology Firms In A Transitional Economy, Chung-Ming Lau, Daphne W. Yiu, Ping-Kwong Yeung, Yuan Lu
Strategic Orientation Of High-Technology Firms In A Transitional Economy, Chung-Ming Lau, Daphne W. Yiu, Ping-Kwong Yeung, Yuan Lu
Research Collection Lee Kong Chian School Of Business
Strategic orientation is a critical factor for a firm's competitiveness in a transitional economy context but it is understudied in the current literature. This article examines the antecedents of strategic orientation from both the socio-cognitive and resource-based view perspectives. The study posits that the strategic orientations of firms in a transitional economy context are influenced by the top managers' cognitions and organizational resources. Based on a national survey of high-technology firms in China, the study finds that a stronger market-focused strategic orientation was facilitated by managerial cognitions about the future of the industry and current operation and performance of the …
Entrepreneurship Education At Singapore Management University, Wee Liang Tan
Entrepreneurship Education At Singapore Management University, Wee Liang Tan
Research Collection Lee Kong Chian School Of Business
This presentation focuses on the Singapore Management University approach to teaching entrepreneurship through classes, the environment of the students, and basic infrastructure elements such as knowledge, information, and resources. It defines the term itself as the process of doing something different or new as well as creating wealth for oneself and adding value to society. In addition, the presentation mentions ideas such as University-wide versus Program Specific approaches and core versus electives.
The New Securocracy And The "Police Concept" Of Public Sector Worker Identity, Cliff Oswick, Stephen Matthias Harney, Gerard Hanlon
The New Securocracy And The "Police Concept" Of Public Sector Worker Identity, Cliff Oswick, Stephen Matthias Harney, Gerard Hanlon
Research Collection Lee Kong Chian School Of Business
In recent years we have seen the emergence of a "new securocracy," a generalization of responsibility for fighting terror within the public sector. Here we consider the nature and extent of this securocratic shift. In particular, the identity implications for the public sector worker are explored and we contend that there is an inherent tension between "serving" and "policing" the public in many public sector jobs. We also discuss the way in which a securocratic identity is simultaneously embraced and resisted. Finally, we present some tentative insights into an alternative way of thinking about identity work, which offers a means …
Employment And Market Innovation In Chinese Business Group Affiliated Firms: The Role Of Group Control Systems, Robert E. White, Robert E. Hoskisson, Daphne W. Yiu, Garry D. Bruton
Employment And Market Innovation In Chinese Business Group Affiliated Firms: The Role Of Group Control Systems, Robert E. White, Robert E. Hoskisson, Daphne W. Yiu, Garry D. Bruton
Research Collection Lee Kong Chian School Of Business
Prior research has suggested a number of potential benefits to firm membership in business groups. These benefits include availability of capital and other resources not readily accessible in an open market, the facilitation of entrepreneurship, plus information and risk sharing advantages. We suggest that another important benefit is the assistance of group control systems in helping the firm to manage conflicting pressures in the institutional environment and facilitate coevolution of these conflicting pressures. To empirically demonstrate the relevance of this viewpoint, we examine the case of China where business groups facilitate institutional transition, actively balancing market pressures to increase levels …
Spreadsheet Modeling Of Equipment Acquisition Plan, Thin Yin Leong, Michelle L. F. Cheong
Spreadsheet Modeling Of Equipment Acquisition Plan, Thin Yin Leong, Michelle L. F. Cheong
Research Collection School Of Computing and Information Systems
Excel spreadsheets have been used in many classrooms to teach modeling and analysis of real business problems. This can be done with relative ease but often the modeling approach may be inappropriate and the analysis results not easily implemented. In this article, we illustrate these difficulties with the modeling of the number of equipment required in future years, given demand (historical and projected) and the amount of equipment held. We show how the desired output can be, and needs to be related to the given input. For this purpose, we apply the TREND function to predict data into future years. …
Issues And Procedures In Adopting Structural Equation Modelling Technique, Siu Loon Hoe
Issues And Procedures In Adopting Structural Equation Modelling Technique, Siu Loon Hoe
Research Collection School Of Computing and Information Systems
When applying structural equation modeling (SEM) technique for analytical procedures, various issues are involved. These issues may concern sample size, overall fit indices and approach. Initiates of SEM may find it somewhat daunting in resolving these technical issues. The purpose of this paper is to highlight key issues in adopting SEM technique and various approaches available. This paper provides a discussion on the sample size, fit indices, standardized paths, unidimensionality test and various approaches in relation to SEM. It is hoped that having reviewed the paper, new researchers can devote more time to data analysis instead of procedural issues involved.
Explaining The Spatial Organization Of Creative Industries: The Case Of The U.S. Videogames Industry, F. Ted Tschang, Jan Vang
Explaining The Spatial Organization Of Creative Industries: The Case Of The U.S. Videogames Industry, F. Ted Tschang, Jan Vang
Research Collection Lee Kong Chian School Of Business
The paper presents a picture of the spatial location of the U.S. videogames industry as a broad range of clusters of different sizes, none of them dominant, then uses a variety of qualitative evidence (including interview and ethnographic) to illustrate a theory of how these variegated clusters have emerged and continue to persist, each in their own right. In effect, our main findings are that videogame clusters do not operate as other creative industry clusters, as described by the recent theories of buzz applied to other creative industries, nor by conventional linkage arguments (either to suppliers or financier-distributors). Rather, the …
The Disparity Between Long-Term And Short-Term Forecasted Earnings Growth, Zhi Da, Mitchell Craig Warachka
The Disparity Between Long-Term And Short-Term Forecasted Earnings Growth, Zhi Da, Mitchell Craig Warachka
Research Collection Lee Kong Chian School Of Business
We find the disparity between long-term and short-term analyst forecasted earnings growth is a robust predictor of future returns and revisions in long-term forecasted earnings growth. After adjusting for industry characteristics, stocks whose long-term earnings growth forecasts are far above or far below their implied short-term forecasts for earnings growth have negative and positive subsequent risk-adjusted returns, respectively. Despite the importance of conditioning on short-term forecasted earnings growth, these returns are not driven by earnings momentum. Instead, consistent with investors having limited attention, predictable revisions in long-term analyst forecasts appear to induce return predictability.
Search For Optimal Ceo Compensation: Theory And Empirical Evidence, Melanie Cao, Rong Wang
Search For Optimal Ceo Compensation: Theory And Empirical Evidence, Melanie Cao, Rong Wang
Research Collection Lee Kong Chian School Of Business
We integrate an agency model with dynamic search equilibrium to study three important issues concerning executive compensation. We show that 1) the equilibrium pay-to-performance sensitivity depends positively on a firm’s specific risk, and negatively on its systematic risk, which offers a plausible explanation for the inconclusive empirical relationship between the pay-to-performance sensitivity and a firm’s total risk; 2) a growing economy simultaneously induces the growth in executive compensation and firm size; 3) the faster growth of executive compensation relative to the growth of firm size in the past decade is mostly due to the increase in firms’ specific risks.