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Articles 6211 - 6240 of 6934

Full-Text Articles in Business

Winning Back The Cup For Distributed Pomdps: Planning Over Continuous Belief Spaces, Pradeep Varakantham, Ranjit Nair, Milind Tambe, Makoto Yokoo May 2006

Winning Back The Cup For Distributed Pomdps: Planning Over Continuous Belief Spaces, Pradeep Varakantham, Ranjit Nair, Milind Tambe, Makoto Yokoo

Research Collection School Of Computing and Information Systems

Distributed Partially Observable Markov Decision Problems (Distributed POMDPs) are evolving as a popular approach for modeling multiagent systems, and many different algorithms have been proposed to obtain locally or globally optimal policies. Unfortunately, most of these algorithms have either been explicitly designed or experimentally evaluated assuming knowledge of a starting belief point, an assumption that often does not hold in complex, uncertain domains. Instead, in such domains, it is important for agents to explicitly plan over continuous belief spaces. This paper provides a novel algorithm to explicitly compute finite horizon policies over continuous belief spaces, without restricting the space of …

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Modeling Online Art Auction Dynamics Using Functional Data Analysis, Karempudi Srinivas Reddy, Mayukh Dass May 2006

Modeling Online Art Auction Dynamics Using Functional Data Analysis, Karempudi Srinivas Reddy, Mayukh Dass

Research Collection Lee Kong Chian School Of Business

In this paper, we examine the price dynamics of on-line art auctions of modern Indian art using functional data analysis. The purpose here is not just to understand what determines the final prices of art objects, but also the price movement during the entire auction. We identify several factors, such as artist characteristics (established or emerging artist; prior sales history), art characteristics (size; painting medium—canvas or paper), competition characteristics (current number of bidders; current number of bids) and auction design characteristics (opening bid; position of the lot in the auction), that explain the dynamics of price movement in an on-line …

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Do Accurate Earnings Forecasts Facilitate Superior Investment Recommendations?, Roger Loh, G. Mujtaba Mian May 2006

Do Accurate Earnings Forecasts Facilitate Superior Investment Recommendations?, Roger Loh, G. Mujtaba Mian

Research Collection Lee Kong Chian School Of Business

We find that analysts who issue more accurate earnings forecasts also issue more profitable stock recommendations. The average factor-adjusted return associated with the recommendations of analysts in the highest accuracy quintile exceeds the corresponding return for analysts in the lowest accuracy quintile by 1.27% per month. Our findings provide indirect empirical support for valuation models in the accounting and finance literatures (e.g., Ohlson, 1995) that emphasize the role of future earnings in predicting stock price movements. Our results also suggest that imperfectly efficient markets reward information gatherers, such as security analysts, for their costly activities in generating superior earnings forecasts.

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Loss Function Asymmetry And Forecast Optimality: Evidence From Individual Analysts' Forecasts, Stanimir Markov, Min Yen Tan May 2006

Loss Function Asymmetry And Forecast Optimality: Evidence From Individual Analysts' Forecasts, Stanimir Markov, Min Yen Tan

Research Collection School Of Accountancy

We examine the optimality of quarterly earning forecasts issued by individual analysts. When we conduct Ordinary Least Squares (OLS) and Least Absolute Deviations (LAD) analyses, which assume loss function symmetry, we reject the null of forecast optimality at 5% significance level more than 5% of the time. Relaxing the symmetry assumption reduces the frequency of rejections below 5%. We demonstrate that the cross-sectional variation in the asymmetry parameter of the loss function is related to analyst employment. Overall, our evidence is consistent with the joint hypothesis of asymmetric loss and forecast optimality rather than the alternative of symmetric loss and …

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Predicting Adverse Impact And Mean Criterion Performance In Multistage Selection, Wifried De Corte, Filip Lievens, Paul R. Sackett May 2006

Predicting Adverse Impact And Mean Criterion Performance In Multistage Selection, Wifried De Corte, Filip Lievens, Paul R. Sackett

Research Collection Lee Kong Chian School Of Business

The authors present an analytical method to assess the average criterion performance of the selected candidates as well as the adverse impact and the cost of general multistage selection decisions. The method extends previous work on the analytical estimation of multistage selection outcomes to the case in which the applicant pool is a mixture of applicant populations that differ in their average performance on the selection predictors. Next, the method was used to conduct 3 studies of important issues practitioners and researchers have with multistage selection processes. Finally, the authors indicate how the method can be integrated into a broader …

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Employee Incentives To Make Firm Specific Investment: Implications For Resource-Based Theories Of Corporate Diversification, Heli Wang, Jay B. Barney Apr 2006

Employee Incentives To Make Firm Specific Investment: Implications For Resource-Based Theories Of Corporate Diversification, Heli Wang, Jay B. Barney

Research Collection Lee Kong Chian School Of Business

We argue that the risk associated with the value of a firm's core resources has an impact on employee decisions to make firm-specific investments, independent of the threat of opportunism that might exist in a particular exchange. We further explore mechanisms firms may adopt to mitigate the employee incentive problem stemming from the risk associated with core resource value. These arguments shed new light on resource-based theories of corporate diversification.

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Programming Immaterial Labour, Stefano Harney Apr 2006

Programming Immaterial Labour, Stefano Harney

Research Collection Lee Kong Chian School Of Business

Language, image, and ambiance production used to go under the sign of cultural labour. Today, these increasingly gather under the banner of immaterial labour. It is this part of cultural labour, a part of cultural labour most explicitly projecting itself as labour, that I want to discuss in this article.

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Experimental And Empirical Perspectives On Grid Resource Allocation For The Singapore Market, Danny Oh, Steven Miller, Nan Hu Apr 2006

Experimental And Empirical Perspectives On Grid Resource Allocation For The Singapore Market, Danny Oh, Steven Miller, Nan Hu

Research Collection School Of Computing and Information Systems

In this paper, we describe our work on using the Tycoon system developed by HP Labs to provide a market-based resource allocation and bidding framework for a grid. We discuss how we intend to evaluate the feasibility of the Tycoon system by measuring its economic performance using agent-based simulation experiments for a particular type of grid usage scenario, namely, the digital media market scenario. We will also discuss a related effort in collecting and using real grid data from the National Grid Pilot Platform in Singapore and how we will be using real data collected to derive actual usage patterns …

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Enterprise Agility And The Enabling Role Of Information Technology, Eric Overby, Anandhi S. Bharadwaj, V. Sambamurthy Apr 2006

Enterprise Agility And The Enabling Role Of Information Technology, Eric Overby, Anandhi S. Bharadwaj, V. Sambamurthy

Research Collection School Of Computing and Information Systems

In turbulent environments, enterprise agility, that is, the ability of firms to sense environmental change and respond readily, is an important determinant of firm success. We define and deconstruct enterprise agility, delineate enterprise agility from similar concepts in the business research literature, explore the underlying capabilities that support enterprise agility, explicate the enabling role of information technology (IT) and digital options, and propose a method for measuring enterprise agility. The concepts in this paper are offered as foundational building blocks for the overall research program on enterprise agility and the enabling role of IT.

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Tacit Knowledge, Nonaka And Takeuchi Seci Model And Informal Knowledge Processes, Siu Loon Hoe Mar 2006

Tacit Knowledge, Nonaka And Takeuchi Seci Model And Informal Knowledge Processes, Siu Loon Hoe

Research Collection School Of Computing and Information Systems

The organizational behavior and knowledge management literature has devoted a lot attention on how structural knowledge processes enhance learning. There has been little emphasis on the informal knowledge processes and the construct remains undefined. The purpose of this paper is to highlight the importance of informal knowledge processes, propose a definition for these processes and link them to the socialization and internalization processes suggested by Nonaka and Takeuchi in the SECI model. The paper offers a fresh perspective on how informal knowledge processes in organizations help to enhance the organization’s learning capability. It will enable scholars and managers to have …

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Accounting Students' Perceptions Of A Learning Management System: An International Comparison, Illias Basioudis, Paul De Lange, Themin Suwardy, Paul Wells Mar 2006

Accounting Students' Perceptions Of A Learning Management System: An International Comparison, Illias Basioudis, Paul De Lange, Themin Suwardy, Paul Wells

Research Collection School Of Accountancy

The impact and use of technology on learning outcomes for accounting students is not well understood. This study investigated impact of design features of an ‘off the shelf’ Learning Management System (LMS) in teaching undergraduate accounting students. Specifically, responses elicited from students located in the UK, Australia and New Zealand form the basis of the study which reports on a number of design features in the LMS (e.g. delivery of lecture notes, announcements, on-line assessment and model answers) used to deliver learning materials regarded as necessary to enhance learning outcomes. Responses from 825 on-campus students provided international data to develop …

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A Hybrid Scatter Search/Electromagnetism Meta-Heuristic For Project Scheduling, Dieter Debels, Bert De Reyck, Roel Leus, Mario Vanhoucke Mar 2006

A Hybrid Scatter Search/Electromagnetism Meta-Heuristic For Project Scheduling, Dieter Debels, Bert De Reyck, Roel Leus, Mario Vanhoucke

Research Collection Lee Kong Chian School Of Business

In the last few decades, several effective algorithms for solving the resource-constrained project scheduling problem have been proposed. However, the challenging nature of this problem, summarised in its strongly NP-hard status, restricts the effectiveness of exact optimisation to relatively small instances. In this paper, we present a new meta-heuristic for this problem, able to provide near-optimal heuristic solutions for relatively large instances. The procedure combines elements from scatter search, a generic population-based evolutionary search method, and from a recently introduced heuristic method for the optimisation of unconstrained continuous functions based on an analogy with electromagnetism theory. We present computational …

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Regulation And Freedom In Global Business Education, Stefano Harney, Cliff Oswick Mar 2006

Regulation And Freedom In Global Business Education, Stefano Harney, Cliff Oswick

Research Collection Lee Kong Chian School Of Business

Purpose: This paper seeks to confront the orthodoxy of global business education with some insights from postcolonial theory in order to develop a new critical pedagogy adequate for a global sociology of management and accounting. Design/methodology/approach: Reviewing the state of play in postcolonial theory and noting the new politicisation in that field, the paper asks what relevance this politicisation might have for an alternative to orthodox global business education. Findings: The paper finds that the texts available to postcolonial theory present a wealth beyond the regulation of colonial and neo‐colonial regimes and in contrast critical management studies do not have …

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Large-Scale Investigation Of The Role Of Trait Activation Theory For Understanding Assessment Center Convergent And Discriminant Validity, Filip Lievens, Christopher S. Chasteen, Eric A. Day, Neil D. Christiansen Mar 2006

Large-Scale Investigation Of The Role Of Trait Activation Theory For Understanding Assessment Center Convergent And Discriminant Validity, Filip Lievens, Christopher S. Chasteen, Eric A. Day, Neil D. Christiansen

Research Collection Lee Kong Chian School Of Business

This study used trait activation theory as a theoretical framework to conduct a large-scale test of the interactionist explanation of the convergent and discriminant validity findings obtained in assessment centers. Trait activation theory specifies the conditions in which cross-situationally consistent and inconsistent candidate performances are likely to occur. Results obtained by aggregating correlations across 30 multitrait-multimethod matrices supported the propositions of trait activation theory, shedding a more positive light on the construct validity puzzle in assessment centers. Overall, convergence among assessment center ratings was better between exercises that provided an opportunity to observe behavior related to the same trait, and …

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The Rise In House Prices In China: Bubbles Or Fundamentals?, Jianying Hu, Liangjun Su, Sainan Jin, Wanjun Jiang Mar 2006

The Rise In House Prices In China: Bubbles Or Fundamentals?, Jianying Hu, Liangjun Su, Sainan Jin, Wanjun Jiang

Research Collection School Of Economics

The dramatic rise of house prices in many cities of China has brought huge attention from both the governmental and academic circles. There is a huge debate on whether the increasing house prices are driven by market fundamentals or just by speculation. Like Levin and Wright (1997a, 1997b), we decompose house prices in China into fundamental and non−fundamental components. We also consider potential nonlinear feedback from the historical growth rate of house prices on the current house prices and propose a semiparametric approach to estimate the speculative components in the model. We demonstrate that the non−fundamental part contributes a relatively …

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Different Wrongs, Different Remedies? Reactions To Organizational Remedies After Procedural And Interactional Injustice, Jochen Reb, Barry M. Goldman, Laura J. Kray, Russell Cropanzano Mar 2006

Different Wrongs, Different Remedies? Reactions To Organizational Remedies After Procedural And Interactional Injustice, Jochen Reb, Barry M. Goldman, Laura J. Kray, Russell Cropanzano

Research Collection Lee Kong Chian School Of Business

To alleviate the negative effects of workplace unfairness and resulting conflict, organizations can take remedial action to atone for a perceived injustice. We argue that the effectiveness of organizational remedies may depend on the match between type of injustice perceived and type of remedy offered. Specifically, based on the multiple needs model of justice (Cropanzano, Byrne, Bobocel, & Rupp, 2001), we expect procedural injustice to be particularly associated with preference for instrumental remedies that address the need for control. On the other hand, interactional injustice should be particularly associated with preference for punitive remedies that address the need for meaning. …

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Strategic Communication In Crisis Governance: Singapore’S Management Of The Sars Crisis, Jin Yan, Augustine Pang, Glen T. Cameron Mar 2006

Strategic Communication In Crisis Governance: Singapore’S Management Of The Sars Crisis, Jin Yan, Augustine Pang, Glen T. Cameron

Research Collection Lee Kong Chian School Of Business

The contingency theory of conflict management and current crisis management literature are integrated in this paper to examine how crisis has been communi-cated and managed by the Singapore government and what kinds of strategies arose during the various stages of the SARS crisis life-cycle. Findings show that the Singapore government played a predominant role in managing how its multiple publics perceived the crisis by extensive communication through the news media. The media, in turn, playing a supporting nation-building role, assisted the government's management and communication of the crisis. To effectively manage the perception and emotion of the various public, the …

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Toward A Publics-Driven, Emotion-Based Approach In Crisis Communication: Testing The Integrated Crisis Mapping (Icm) Model, Yan Jin, A. Pang, Glen T. Cameron Mar 2006

Toward A Publics-Driven, Emotion-Based Approach In Crisis Communication: Testing The Integrated Crisis Mapping (Icm) Model, Yan Jin, A. Pang, Glen T. Cameron

Research Collection Lee Kong Chian School Of Business

Extending current situation-based conceptualizations of crisis response, theauthors have developed a more universal and systemic approach to understandingthe role of emotions in crises. The authors’ Integrated Crisis Mapping (ICM)model is based on a public-based, emotion-driven perspective where differentcrises are mapped on two continua, the organization’s involvement with the crisisissue and primary public’s coping strategy. The initial test suggested theoreticalrigor in the model and found that publics involved in crises pertaining toreputational damage, technological breakdown, industrial matters, labor unrest,and regulation/legislation, are likely to feel anxious, angry, and sad. At the sametime, they are likely to engage in conative coping and take …

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Effects Of Technological Improvement In The Ict Producing Sector On Business Activity, Hian Teck Hoon, Edmund S. Phelps Feb 2006

Effects Of Technological Improvement In The Ict Producing Sector On Business Activity, Hian Teck Hoon, Edmund S. Phelps

Research Collection School Of Economics

It seems to be taken for granted by many commentators that the sharp decline in prices of computers, telecommunications equipment and software resulting from the technological improvements in the information and communications technology (ICT)-producing sector is good for jobs and is a major driving force behind the non-inflationary employment miracle and booming stock market in the latter half of the nineties in the U.S. and their recurrence since 2004. We show that, in our model, a technical improvement in the ICT-producing sector by itself cannot explain a simultaneous increase in employment and a rise in firms’ valuation (or Tobin’s Q …

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Extending Economic Boundaries And Exporting Expertise: New Evidence On Singapore's Gambit In Indonesia, Vietnam And India, Caroline Yeoh, Siang Yeung Wong Feb 2006

Extending Economic Boundaries And Exporting Expertise: New Evidence On Singapore's Gambit In Indonesia, Vietnam And India, Caroline Yeoh, Siang Yeung Wong

Research Collection Lee Kong Chian School Of Business

Singapore's regionalization stratagem led to the establishment of industrial parks in China, India and several South-East Asian countries. The strategic intent behind these overseas projects was twofold: exporting Singapore's competencies such as management know-how, technological capabilities and corrupt-free administration to regions where such positive factors were lacking and secondly, exploiting comparative advantages that each region had to offer. This paper 1 revisits Singapore's flagship projects in Indonesia, Vietnam and India. Evidence from on-site surveys and interviews are presented. This paper contends that progress in these privileged investment zones remains stymied by particular dependencies and challenges in the host environments.

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Government Ownership And The Performance Of Government-Linked Companies: The Case Of Singapore, James Ang, David K. Ding Feb 2006

Government Ownership And The Performance Of Government-Linked Companies: The Case Of Singapore, James Ang, David K. Ding

Research Collection Lee Kong Chian School Of Business

In an emerging economy, the alternative to government control is often no governance. We investigate the governance structure of government-linked companies (GLCs) in Singapore under the ownership/control structure of Temasek Holdings, the government holding entity, which typically owns substantial cash flow rights but disproportional control rights and exercises no operational control. We compare the financial and market performance of GLCs with non-GLCs, where each has a different set of governance structure, the key difference being government ownership. We show that Singaporean GLCs have higher valuations and better corporate governance than a control group of non-GLCs. The results hold even when …

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Predicting A Currency Crisis Alternative Approaches And Applications To The Philippines, Fernando Antonio Iv Castillo Jan 2006

Predicting A Currency Crisis Alternative Approaches And Applications To The Philippines, Fernando Antonio Iv Castillo

Dissertations and Theses Collection (Open Access)

An arrival of a currency crisis can be anticipated through a comprehensive and properly specified Early Warning System (“EWS”). The costs that entail with experiencing a currency crisis far exceed the costs of spending a considerable amount of time to developing an EWS. In a report done by the IMF(1998), they estimated that emerging economies suffer an 8% cumulative loss in real output during a severe currency crisis. Likewise, evidence suggests that a simple look at traditional market indicators of currency and default risks will not provide much advance warning of an impending currency crisis. In a study done by …

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Under-Pricing And Long-Run Performance Of Initial Public Offerings In Developing Markets, Sze Wei Daniel Ong Jan 2006

Under-Pricing And Long-Run Performance Of Initial Public Offerings In Developing Markets, Sze Wei Daniel Ong

Dissertations and Theses Collection (Open Access)

The transition from being a private company to a public one is one of the most important events in the life of a firm. It is also one of particular interest to institutional investors, and the transition is facilitated through the initial public offering (IPO) process. The IPO provides a fresh source of capital that is critical to the growth of the firm and provides the founder and other shareholders such as venture capitalists a liquid market for their shares. From an institutional investor's perspective, the IPO provides an opportunity to share in the rewards of the growth of the …

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What Makes And What Does Not Make A Real Option? A Study Of International Joint Ventures, Ilya Cuypers, Xavier Martin Jan 2006

What Makes And What Does Not Make A Real Option? A Study Of International Joint Ventures, Ilya Cuypers, Xavier Martin

Research Collection Lee Kong Chian School Of Business

This paper examines the boundaries of real options logic, with an application to joint ventures (JVs). We distinguish between forms of uncertainty that are resolved endogenously and those that are resolved exogenously, and theorize that only exogenous uncertainty will have the impact predicted by real options theory on a foreign investor's choice of how large an equity share to take in a JV. We theorize that macroeconomic and institutional variables generate exogenous uncertainty whereas, by contrast, cultural distance and choices pertaining to corporate scope and product or process development activities involve endogenous sources of uncertainty that investors can both assess …

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International Situational Judgment Tests, Filip Lievens Jan 2006

International Situational Judgment Tests, Filip Lievens

Research Collection Lee Kong Chian School Of Business

The above item was given in the late 1930s to German employees to measure something else other than cognitive ability (e.g., planning and organizing). It illustrates that situational judgment tests (SJTs) have been used outside the United States for quite sometime. Early international applications of SJTs can also be found in the so-called cultural assimilators in cross-cultural training programs (Bhawuk&Brislin,2000). In these cultural assimilators, future expatriates are presented with written situations of an expatriate interacting with a host national and are asked to indicate the most effective response alternative.

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Perceptual Fluency, Attitudes And Choice: Special Session: The Role Of Metacognition In Consumers’ Judgments, Andrew A. Mitchell, Seh-Woong Chung Jan 2006

Perceptual Fluency, Attitudes And Choice: Special Session: The Role Of Metacognition In Consumers’ Judgments, Andrew A. Mitchell, Seh-Woong Chung

Research Collection Lee Kong Chian School Of Business

In a series of studies we examine the relationship between perceptual fluency, attitudes and their accessibility and choice from a limited set of brands. We hypothesize that under these conditions, brand choice is a two-stage process. The first stage is a recognition stage where certain brands will "stand out" in the environment. The second stage is a choice stage, where consumers use information about the brands, which is stored in memory to make a choice.

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The Impact Of Certain And Uncertain Store Promotions On The Decision-Making Process In Product Choices, Cathy Yi Chen Jan 2006

The Impact Of Certain And Uncertain Store Promotions On The Decision-Making Process In Product Choices, Cathy Yi Chen

Research Collection Lee Kong Chian School Of Business

Various store promotions ranging from dollar-off discounts to sweepstakes can induce different affects among consumers. Built on recent studies on the uncertainty of incidental affect, this research examines how promotions differ in the feeling of uncertainty elicited, which, in turn, influence the decision-making process of product choices. Specifically, we demonstrate that “uncertain” promotions (e.g., sweepstakes) can increase the extent of systematic decision-making in a subsequent product choice relative to “certain” promotions (e.g., discount) when the choice is easy. But the pattern is reversed when the choice is difficult. The implications to the incidental affect and promotion research are discussed.

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Intraday Stock Prices, Volume, And Duration: A Nonparametric Conditional Density Analysis, Anthony S. Tay, Christopher Ting Jan 2006

Intraday Stock Prices, Volume, And Duration: A Nonparametric Conditional Density Analysis, Anthony S. Tay, Christopher Ting

Research Collection School Of Economics

We investigate the distribution of high-frequency price changes, conditional on trading volume and duration between trades, on four stocks traded on the New York Stock Exchange. The conditional probabilities are estimated nonparametrically using local polynomial regression methods. We find substantial skewness in the distribution of price changes, with the direction of skewness dependent on the sign of trade. We also find that the probability of larger price changes increases with volume, but only for trades that occur with longer durations. The distribution of price changes vary with duration primarily when volume is high.

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The Art Of Making Smart Big Moves, Paul Strebel, Anne-Valerie Ohlsson-Corboz Jan 2006

The Art Of Making Smart Big Moves, Paul Strebel, Anne-Valerie Ohlsson-Corboz

Research Collection Lee Kong Chian School Of Business

For many companies, incremental growth is not sufficient. The changing business landscape is forcing corporate leaders to learn how to reposition their businesses more fundamentally.

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The Systematic Nature Of Serendipity In Opportunity Discovery: Implications For The Theory Of Entrepreneurship, Reddi Kotha, Dimo Dimov, Gerard George Jan 2006

The Systematic Nature Of Serendipity In Opportunity Discovery: Implications For The Theory Of Entrepreneurship, Reddi Kotha, Dimo Dimov, Gerard George

Research Collection Lee Kong Chian School Of Business

This paper endeavors to disentangle search from serendipity in discoveries of new opportunities. Whereas economic models focus on active search and the tradeoff between its costs and benefits, the Austrian economic tradition posits that individuals do not search for opportunities; it is their alertness that helps them to profit from arbitrage opportunities from the imperfect decisions of others. Further, their alertness reflects their unique prior experience. Yet, despite the intuitive soundness of these ideas, some recent experimental empirical work to test them has highlighted the need for stronger theoretical precision. Are serendipitous solutions better than active search solutions? Can serendipitous …

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