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Articles 6241 - 6270 of 6934

Full-Text Articles in Business

Empirical Evidence On Jurisdictions That Adopt Ifrs, Ole-Kristian Hope, Justin Jin, Tony Kang Jan 2006

Empirical Evidence On Jurisdictions That Adopt Ifrs, Ole-Kristian Hope, Justin Jin, Tony Kang

Research Collection School Of Accountancy

International Financial Reporting Standards (IFRS) have recently been adopted in a number of jurisdictions, including the European Union. Despite the importance of IFRS in the context of global accounting standards harmonization, little is known regarding what institutional factors influence countries' decisions to voluntarily adopt IFRS. This issue is relevant to standard-setters because a better understanding of the motivations for adoption will enable them to promote IFRS more effectively to countries that currently do not employ IFRS. Consistent with bonding theory, we find that countries with weaker investor protection mechanisms are more likely to adopt IFRS. Our evidence also shows that …

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Information Value Of Credit Ratings In Asia Ex-Japan Markets, Chen Zhou Jan 2006

Information Value Of Credit Ratings In Asia Ex-Japan Markets, Chen Zhou

Dissertations and Theses Collection (Open Access)

This study investigates the information value of credit ratings by exploring the relationship between ratings and security price. Unlike previous studies, we concentrate on the major markets ex-Japan in Asia. We begin with an investigation of rating reclassification as well as credit watch placement events by three leading international rating agencies. We show that markets with differing level of sophistication behave differently. Specifically, South Korea and Hong Kong are found to respond in a similar manner. Indonesia shows possible ign of information leakage. In the cases of Malaysia and Thailand, significant and positive equity price responses exist for upgrades, suggesting …

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The Information Efficiency Of The Corporate Bond Market, Cheng Ying Jan 2006

The Information Efficiency Of The Corporate Bond Market, Cheng Ying

Dissertations and Theses Collection (Open Access)

The link between asset prices and information fundamentals as embodied in news announcement effects is an extremely, if not the most, important area amongst current research in market microstructure. The lack of adequate transaction data posts an obstacle in this research. In this thesis, based on a valuable intraday transaction-by-transaction dataset for U.S. corporate bonds, we first examine the impact of public information contained in the macro-economic news and firm-specific information contained in corporate earnings annoucements on the prices of both corporate bonds and stocks. We find that both bonds and stocks react significantly to public news and firm-specific information, …

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Impact Of Gender And Ethnic Composition Of South African Boards Of Directors On Intellectual Capital Performance, Jean-Luc Wolfgang Mitchell Van Der Zahn Jan 2006

Impact Of Gender And Ethnic Composition Of South African Boards Of Directors On Intellectual Capital Performance, Jean-Luc Wolfgang Mitchell Van Der Zahn

Research Collection School Of Accountancy

This study examines the association between the gender and ethnic composition of boards of directors and firm performance in a transitional nation. In contrast to prior research that largely focuses on firm performance within a financial context, this study concentrates on intellectual capital performance. Using data collected from 84 South African, empirical results indicate a positive association between the percentage of female and non-white directors on the board and a firm’s intellectual capital performance. Additional analysis shows the designation of female directors as an insider has a negative effect of intellectual capital performance. Designation of female and non-white directors as …

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National Report On Social Capital - Singapore, Wee Liang Tan Jan 2006

National Report On Social Capital - Singapore, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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Indirect Inference For Dynamic Panel Models, Christian Gourieroux, Peter C. B. Phillips, Jun Yu Jan 2006

Indirect Inference For Dynamic Panel Models, Christian Gourieroux, Peter C. B. Phillips, Jun Yu

Research Collection Lee Kong Chian School Of Business

It is well-known that maximum likelihood (ML) estimation of the autoregressive parameter of a dynamic panel data model with fixed effects is inconsistent under fixed time series sample size (T) and large cross section sample size (N) asymptotics. The estimation bias is particularly relevant in practical applications when T is small and the autoregressive parameter is close to unity. The present paper proposes a general, computationally inexpensive method of bias reduction that is based on indirect inference (Gouriéroux et al., 1993), shows unbiasedness and analyzes efficiency. The method is implemented in a simple linear dynamic panel model, but has wider …

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The Effects Of Intercorporate Networks On Corporate Social And Political Behaviour, Matthew Bond, Siana Glouharova, Nicholas Harrigan Jan 2006

The Effects Of Intercorporate Networks On Corporate Social And Political Behaviour, Matthew Bond, Siana Glouharova, Nicholas Harrigan

Research Collection School of Social Sciences

Large economic corporations play a central role in the economies of modern societies. Much of what we consume is produced and marketed by corporations, and many of us are employed by them. Our economic fates appear to be inextricably linked to their actions. Not for the first time, however, corporations are facing pressures to expand the scope of their concerns even further. Two cases neatly illustrate the nature of these pressures. First, movements promoting corporate social responsibility exert pressures on corporations to take account of the negative and positive consequences of their actions to third parties; they are requesting that …

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Fabrication-Tolerant Active-Passive Integration Scheme For Vertically-Coupled Microring Resonators, Chyng Wen Tee, Ka Williams, Rv Penty, Ih White Jan 2006

Fabrication-Tolerant Active-Passive Integration Scheme For Vertically-Coupled Microring Resonators, Chyng Wen Tee, Ka Williams, Rv Penty, Ih White

Research Collection Lee Kong Chian School Of Business

The large-scale photonic integration of microring resonators in three dimensions made possible by recent developments in vertical coupling and wafer bonding technology is shown to be sensitive to lateral mask misalignment for the ring and bus waveguides introduced during the fabrication process. For a typical 20-μm radius, vertically coupled microring calculations reveal a linear relationship between deviation in the coupling coefficient and lateral misalignment. A coupling coefficient reduction of 50% is predicted for a lateral misalignment of 0.3 μm, which is typical for an alignment accuracy limited by the current state-of-the-art mask alignment process. The use of a wide multimode …

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Where Should The Action Be - Inside The Classroom Or Outside The Classroom? A Comparison Of The Action-Learning Outcomes In Singapore, China, Korea, New Zealand And Australia, Jens Mueller, Wee Liang Tan, Hanjun Hu, John Thornton Jan 2006

Where Should The Action Be - Inside The Classroom Or Outside The Classroom? A Comparison Of The Action-Learning Outcomes In Singapore, China, Korea, New Zealand And Australia, Jens Mueller, Wee Liang Tan, Hanjun Hu, John Thornton

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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Hybridizing Discrete- And Continuous-Time Models For Batch Sizing And Scheduling Problems, Siqun Wang, Monique Guignard Jan 2006

Hybridizing Discrete- And Continuous-Time Models For Batch Sizing And Scheduling Problems, Siqun Wang, Monique Guignard

Research Collection Lee Kong Chian School Of Business

This paper proposes a new hybrid technique called partial parameter uniformization (hereafter PPU). The technique simplifies problems by ignoring the different values that certain problem parameters can take, which may facilitate the solution of some hard combinatorial optimization problems. PPU is applied to complex batch sizing and scheduling problems. Some information can be obtained from a discrete-time model in which job durations have been made uniform. This information is then exploited by a more detailed continuous-time model to generate feasible solutions and further improve these solutions. Good, or optimal solutions to the Westenberger and Kallrath Benchmark problems have been obtained …

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Have We Taught Our Students The Right Stuff?, Jaydeep Balakrishnan, Kum Khiong Yang Jan 2006

Have We Taught Our Students The Right Stuff?, Jaydeep Balakrishnan, Kum Khiong Yang

Research Collection Lee Kong Chian School Of Business

Operations Management involves managing the resources that are required to convert inputs to outputs. These resources include materials, capital and people which requires decision making within the operations function to be cross functional (Schroeder, 2000). The resulting impact is that whenever an operations manager makes a decision, he or she should be cognizant of its impact on other areas within the firm, such as finance, marketing and human resources, as well as the external partners such as suppliers and customers. Our question is whether Production and Operations Management (POM) educators are training students adequately to make the necessary cross functional …

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Encouraging Knowledge Sharing In Knowledge-Based Organizations: Individual And Organizational Aspects Of Knowledge Management Leadership, Thomas Menkhoff, Yue Wah Chay, Benjamin Loh, Hans-Dieter Evers Jan 2006

Encouraging Knowledge Sharing In Knowledge-Based Organizations: Individual And Organizational Aspects Of Knowledge Management Leadership, Thomas Menkhoff, Yue Wah Chay, Benjamin Loh, Hans-Dieter Evers

Research Collection Lee Kong Chian School Of Business

This study aims to understand the antecedents of knowledge sharing behavior amongst tenant firms in Science and Technology Parks (STPs) which has been highlighted as a key factor for the development of an epistemic culture of innovation in STPs. Components of a model of knowledge management leadership with a focus on knowledge sharing and innovative value creation in STPs are developed inspired by the work of Nonaka, Nahapiet and Ghoshal, Guns and others. Collection of data on various relevant measures is ongoing, covering technology firms and STPs in Singapore and other Asian countries. Besides outlining model components and hypotheses, tentative …

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Change Leadership In Small Enterprises: Evidence From Singapore, Thomas Menkhoff, Yue Wah Chay Jan 2006

Change Leadership In Small Enterprises: Evidence From Singapore, Thomas Menkhoff, Yue Wah Chay

Research Collection Lee Kong Chian School Of Business

Leading change processes in an enterprise is a challenge for many entrepreneurs. Numerous elements influence the outcomes of such transformation processes, including the adopted change leadership style, the implementation skills of the entrepreneur, the particular scenario of change in terms of urgency of change and resistance, the scale of change as well as macro variables. This article sheds light on the change leadership approaches of small Chinese entrepreneurs in Singapore. It aims at examining widespread common-sense assumptions that æAsianÆ small entrepreneurs adopt mostly directive-coercive (autocratic) change leadership approaches. We argue that there is indeed a great diversity and heterogeneity amongst …

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Conceptualization Of Trust, Commitment, And Understanding The Relationships Between Trust, Commitment, And Willingness To Try Internet Banking Services, Siew Tong Fock, Hian Chye Koh Jan 2006

Conceptualization Of Trust, Commitment, And Understanding The Relationships Between Trust, Commitment, And Willingness To Try Internet Banking Services, Siew Tong Fock, Hian Chye Koh

Research Collection Lee Kong Chian School Of Business

This paper examines trust and commitment and their antecedents and consequences within the context of Internet banking, based on data collected from a survey of 500 Singapore undergraduates. After the establishment of a conceptual model that links trust and commitment to the willingness to try Internet banking, the empirical findings show that higher levels of trust and commitment are significantly associated with a greater willingness to try Internet banking. The paper also investigates security, ethics, privacy, openness, the speed of response, quality of information, regulatory control, technology advancement, and reputation as determinants of trust. Of these, security, regulatory control, technology …

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Conflicts Of Interest And Stock Recommendations: The Effects Of The Global Settlement And Related Regulations, Rong Wang, Ohad Kadan, Leonardo Madureira, Tzachi Zach Jan 2006

Conflicts Of Interest And Stock Recommendations: The Effects Of The Global Settlement And Related Regulations, Rong Wang, Ohad Kadan, Leonardo Madureira, Tzachi Zach

Research Collection Lee Kong Chian School Of Business

Prior research has shown that sell-side analysts in general, and especially those facing conflicts of interest driven by investment bank relationships, issue overly optimistic recommendations. This paper studies the effect of regulations on sell-side analysts’ research. These regulations — Rule NASD 2711, Rule NYSE 472, and the “Global Analyst Research Settlement” — attempted to mitigate the interdependence between the research and the investment bank departments of US brokerage houses. The results suggest that the regulations have partially achieved their goal of curbing the conflicts of interest’s influence over analysts’ stock recommendations. After the adoption of the new regulations, the likelihood …

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Dynamic Pricing Through Discounts For Optimizing Multiple Class Demand Fulfillment, Qing Ding, Panos Kouvelis, Joseph M. Milner Jan 2006

Dynamic Pricing Through Discounts For Optimizing Multiple Class Demand Fulfillment, Qing Ding, Panos Kouvelis, Joseph M. Milner

Research Collection Lee Kong Chian School Of Business

In a multiple-customer-class model of demand fulfillment for a single item, we consider the use of dynamic price discounts to encourage backlogging of demand for customer classes denied immediate service. Customers are assumed to arrive over several stages in a period, and customer classes are distinguished by their contractual price and sensitivity to discounts. Through dynamic programming we determine the optimal discounts to offer, assuming a linear model for the sensitivity of customers to such inducements. We show that customers are served in class order, and allocation of inventory to demand is determined by considering the current number of customers …

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Social In Social Entrepreneurship: Altruism And Entrepreneurship, Partners In Social Entrepreneurship, Wee Liang Tan, John Joseph Williams, Teck Meng Tan Jan 2006

Social In Social Entrepreneurship: Altruism And Entrepreneurship, Partners In Social Entrepreneurship, Wee Liang Tan, John Joseph Williams, Teck Meng Tan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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Accounting Restatements: Are They Always Bad News For Investors?, Dan Segal, Jeffrey L. Callen, Joshua Livnat Jan 2006

Accounting Restatements: Are They Always Bad News For Investors?, Dan Segal, Jeffrey L. Callen, Joshua Livnat

Research Collection School Of Accountancy

This study investigates a large sample of financial statement restatements over the period 1986-2001, and compares restatements caused by changes in accounting principles to those caused by errors. Typically, investors perceive restatements as negative signals due to three potential reasons: (a) the restatement indicates problems with the accounting system that may be manifestations of broader operational (and managerial) problems, (b) the restatement causes downward revisions in future cash flows expectations, and (c) the restatement indicates managerial attempts to cover up income decline through “cooking the books.” We provide evidence that market reactions to restatements due to errors are generally negative. …

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Realizing The Potential Of The Ambidextrous Firm, James Arthur Robins Jan 2006

Realizing The Potential Of The Ambidextrous Firm, James Arthur Robins

Research Collection Lee Kong Chian School Of Business

Sustaining innovation in the face of pressures to be cost-competitive and make effective use of existing resources is not a new challenge, but recent acceleration of competition has pushed this issue high on the agenda for managers and researchers. Organizing and managing the “ambidextrous” company – a firm that excel in exploring new areas of productive knowledge and exploiting existing capabilities – has emerged as a major concern of strategic management. In this paper, we explore coordination problems that make it difficult for firms to realize their potential as ambidextrous competitors. Organizations may possess superior skills for both exploration and …

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Little Understood Knowledge Trap, Hans-Dieter Evers, Solvay Gerke, Thomas Menkhoff Jan 2006

Little Understood Knowledge Trap, Hans-Dieter Evers, Solvay Gerke, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

As knowledge increases, we realise how much else we do not know. Successful research always results in new questions. Any knowledge economy must be aware of such unknowns if it is to expand further through research and development. Debate on bridging the digital divide does not take this factor into account. Many of the strategies currently preached are misplaced.

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Capital Structure Dynamics And Stock Returns, Jie Cai, Zhe Zhang Jan 2006

Capital Structure Dynamics And Stock Returns, Jie Cai, Zhe Zhang

Research Collection Lee Kong Chian School Of Business

Many finance theories predict that the capital structure affects firm value, which implies that the changes in leverage have an impact on stock returns. Most of the existing literature however has been focusing on the determinants of the capital structure. Using a sample of U.S. public firms during 1975-2002, we document a significantly negative effect of leverage changes on next-quarter stock returns. This effect remains significant after controlling for other firm characteristics such as ROE, book-to-market, firm size, and past returns. We propose and test several hypotheses to explain the observed effect. We find that the negative effect is stronger …

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Organizational Image/Reputation, Filip Lievens Jan 2006

Organizational Image/Reputation, Filip Lievens

Research Collection Lee Kong Chian School Of Business

This handbook makes a unique contribution to the fields of organizational psychology and human resource management by providing comprehensive coverage of the contemporary field of employee recruitment, selection and retention. It provides critical reviews of key topics such as job analysis, technology and social media in recruitment, diversity, assessment methods and talent management, drawing on the work of leading thinkers including Melinda Blackman, Nancy Tippins, Adrian Furnham and Binna Kandola. The contributors are drawn from diverse backgrounds and a wide range of countries, giving the volume a truly international feel and perspective. Together, they share important new work which is …

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The Role Of European Governments In The Digital Economy, Arnoud Cyriel Leo De Meyer Jan 2006

The Role Of European Governments In The Digital Economy, Arnoud Cyriel Leo De Meyer

Research Collection Lee Kong Chian School Of Business

What is the role of government in the digital economy? It is not our intention to go into an in-depth ideological debate on whether governments should intervene in the business sector. We will try to adopt a pragmatic approach and explore what already happens in practice. It is up to the reader to make a judgment to what extent the governments should be involved in the ICT sector. There is enough indication that, due to network externality effects, governments need to take on an active role in stimulating an e-environment to jump-start the move toward a higher level of e-readiness.In …

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The Impact Of Financial Market And Resale Market On Firm Strategies, Zhiling Guo, Andrew B. Whinston Jan 2006

The Impact Of Financial Market And Resale Market On Firm Strategies, Zhiling Guo, Andrew B. Whinston

Research Collection School Of Computing and Information Systems

The ever-increasing use of information technology (IT) in business transactions greatly expands firms? exposure to different electronic markets. This paper provides a framework to understand how firms can leverage different strategies across external financial markets and an internal resale market to improve overall profitability. We develop a model in which a group of risk-averse retailers sell a homogeneous product to their respective uncertain consumer markets. We study a scenario where an internal resale market can be constructed among the retailers and outside financial markets can be used to improve their ability to manage uncertainty. We identify strategies for retailers operating …

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Multiagent Teamwork: Hybrid Approaches, Praveen Paruchuri, Emma Bowring, Ranjit Nair, Jonathan Pearce, Nathan Schurr, Milind Tambe, Pradeep Varakantham Jan 2006

Multiagent Teamwork: Hybrid Approaches, Praveen Paruchuri, Emma Bowring, Ranjit Nair, Jonathan Pearce, Nathan Schurr, Milind Tambe, Pradeep Varakantham

Research Collection School Of Computing and Information Systems

Today within the multiagent community, we see at least four competing methods to building multiagent systems: beliefdesireintention (BDI), distributed constraint optimization (DCOP), distributed POMDPs, and auctions or game-theoretic methods. While there is exciting progress within each approach, there is a lack of cross-cutting research. This article highlights the various hybrid techniques for multiagent teamwork developed by the teamcore group. In particular, for the past decade, the TEAMCORE research group has focused on building agent teams in complex, dynamic domains. While our early work was inspired by BDI, we will present an overview of recent research that uses DCOPs and distributed …

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Latin America Bets On Chinese Lessons, Knowledge@Smu Dec 2005

Latin America Bets On Chinese Lessons, Knowledge@Smu

Knowledge@SMU

These days, all roads in international trade seem to lead to China, even in the case of a small country like Chile, which recently signed a free-trade agreement with the Asian giant. It was China’s first free trade treaty with a Western country, and it opens new international routes for its products. In addition, Chinese authorities say the agreement will make Chile a bridge for investments from China into the rest of Latin America. This much is certain: Both China and the dynamic Southeast Asia region are the focal point for Latin American exports. However, the road to Asia is …

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Examining The Relationship Between Employer Knowledge Dimensions And Organizational Attractiveness: An Application In A Military Context, Filip Lievens, Greet Van Hoye, Bert Schreurs Dec 2005

Examining The Relationship Between Employer Knowledge Dimensions And Organizational Attractiveness: An Application In A Military Context, Filip Lievens, Greet Van Hoye, Bert Schreurs

Research Collection Lee Kong Chian School Of Business

This study uses Cable and Turban's (2001) employer knowledge framework as a conceptual model to formulate hypotheses about a broad range of possible factors affecting the attractiveness of an organization (i.e. armed forces) among potential applicants (576 high-school seniors). Results show that gender, familiarity with military organizations, perceptions of job and organizational attributes (task diversity and social/team activities), and trait inferences (excitement, prestige, and cheerfulness) explained potential applicants' attraction to military organizations. Relative importance analyses showed that trait inferences contributed most to the variance, followed by job and organizational attributes, and employer familiarity. Finally, we found some evidence of interactions …

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Retest Effects In Operational Selection Settings: Development And Test Of A Framework, Filip Lievens, Tine Buyse, Paul R. Sackett Dec 2005

Retest Effects In Operational Selection Settings: Development And Test Of A Framework, Filip Lievens, Tine Buyse, Paul R. Sackett

Research Collection Lee Kong Chian School Of Business

This study proposes a framework for examining the effects of retaking tests in operational selection settings. A central feature of this framework is the distinction between within-person and between-person retest effects. This framework is used to develop hypotheses about retest effects for exemplars of 3 types of tests (knowledge tests, cognitive ability tests, and situational judgment tests) and to test these hypotheses in a high stakes selection setting (admission to medical studies in Belgium). Analyses of within-person retest effects showed that mean scores of repeat test takers were one-third of a standard deviation higher for the knowledge test and situational …

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Consumer Preferences For High-Tech Product Forms: Converged Or Separate? Evolution Of Technology & Reversal Of Preferences, Jin K. Han, Seh-Woong Chung, Seok Sohn Yong Dec 2005

Consumer Preferences For High-Tech Product Forms: Converged Or Separate? Evolution Of Technology & Reversal Of Preferences, Jin K. Han, Seh-Woong Chung, Seok Sohn Yong

Research Collection Lee Kong Chian School Of Business

With the surging popularity and growing availability of convergence products (e.g., camera phones, all-in-one PDAs) in high-tech product categories, consumers now face another dilemma in their purchase consideration: which product form converged, stand-alone, or both? This study sets out to investigate pattern(s) of consumer preferences for product form along the evolution of technology trajectories. In two experiments, we find that, at low levels of technological performance, consumers show an overwhelming preference for the converged product form over the dedicated counterpart; whereas, at a higher technological performance level, the pattern of preferences is reversed. Furthermore, we observe that a preannouncement of …

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Determinants Of Intra-Day Stock Price Change And Asymmetric Information, Christopher Hian Ann Ting Dec 2005

Determinants Of Intra-Day Stock Price Change And Asymmetric Information, Christopher Hian Ann Ting

Research Collection Lee Kong Chian School Of Business

This paper presents a synthesized model of asymmetric information. An empirical analysis of more than 1,400 NYSE common stocks shows that trade direction is more important than volume in revealing the asymmetry. There is also evidence to suggest that signed duration reflects informed trading activity. We use the proposed measure of information asymmetry to study daily changes in the level of informed trading and find that earnings announcements narrow the information gap between the informed and the uninformed. On average, information asymmetry is largest at the beginning of the trading day and it decreases monotonically toward the closing bell. More …

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