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Articles 6391 - 6420 of 6934
Full-Text Articles in Business
A Multi-Agent Approach For Solving Optimization Problems Involving Expensive Resources, Hoong Chuin Lau, H. Wang
A Multi-Agent Approach For Solving Optimization Problems Involving Expensive Resources, Hoong Chuin Lau, H. Wang
Research Collection School Of Computing and Information Systems
In this paper, we propose a multi-agent approach for solving a class of optimization problems involving expensive resources, where monolithic local search schemes perform miserably. More specifically, we study the class of bin-packing problems. Under our proposed Fine-Grained Agent System scheme, rational agents work both collaboratively and selfishly based on local search and mimic physics-motivated systems. We apply our approach to a generalization of bin-packing - the Inventory Routing Problem with Time Windows - which is an important logistics problem, and demonstrate the efficiency and effectiveness of our approach.
Easing The Inferential Leap In Competency Modeling: The Effects Of Task-Related Information And Subject Matter Expertise, Filip Lievens, Juan I. Sanchez, Wilfred De Corte
Easing The Inferential Leap In Competency Modeling: The Effects Of Task-Related Information And Subject Matter Expertise, Filip Lievens, Juan I. Sanchez, Wilfred De Corte
Research Collection Lee Kong Chian School Of Business
Despite the rising popularity of the practice of competency modeling, research on competency modeling has lagged behind. This study begins to close this practice-science gap through 3 studies (1 lab study and 2 field studies), which employ generalizability analysis to shed light on (a) the quality of inferences made in competency modeling and (b) the effects of incorporating elements of traditional job analysis into competency modeling to raise the quality of competency inferences. Study 1 showed that competency modeling resulted in poor interrater reliability and poor between-job discriminant validity amongst inexperienced raters. In contrast, Study 2 suggested that the quality …
Values Of Mobile Commerce To Customers, Keng Siau, H. Sheng, Fiona Fui-Hoon Nah
Values Of Mobile Commerce To Customers, Keng Siau, H. Sheng, Fiona Fui-Hoon Nah
Research Collection School Of Computing and Information Systems
This research studies the values of m-commerce using a qualitative means-ends approach, called Value-Focused Thinking. The conceptual foundation for this research is the Work System Framework. By interviewing both current and potential m-commerce users, we captured the values of m-commerce and develop a means-ends objective network to illustrate the relationships among these values. As one of the first empirical research to assess the values of m-commerce, this research contributes to an increased understanding of m-commerce. The means-ends objective network also serves as a theoretical foundation for future research in m-commerce. For practitioners, our findings highlight the concerns and issues of …
Investing In Real Estate: Mortgage Financing Practices And Optimal Holding Period, Winston T. H. Koh, Edward H. K. Ng
Investing In Real Estate: Mortgage Financing Practices And Optimal Holding Period, Winston T. H. Koh, Edward H. K. Ng
Research Collection School Of Economics
Real estate investments are typically characterized by high degrees of leverage and long-loan tenures. In perfect capital markets, leverage has no impact on the investment decision apart from tax considerations. However, the mortgage financing market is imperfect in many countries. In the presence of market imperfections, an optimal holding period exists for real property investments. We provide a simple rule to calculate the optimal holding period to compare the required rate of return with the leveraged rate of return on equity.
Investing When Volatility Fluctuates, Leping Wang
Investing When Volatility Fluctuates, Leping Wang
Research Collection Lee Kong Chian School Of Business
No abstract provided.
The Singapore-India Connection: A Tale Of Two Industrial Parks, Caroline Yeoh, Wongso Kevin, Wee Tan
The Singapore-India Connection: A Tale Of Two Industrial Parks, Caroline Yeoh, Wongso Kevin, Wee Tan
Research Collection Lee Kong Chian School Of Business
In recent times, Singapore has, as part of its regionalisation strategy, established industrial parks in various countries, including China, Vietnam, and India. The parks are marketed as a winning combination of the host country’s unique location advantages and Singapore-style efficiency and management know-how. Singapore’s foray into India, in particular, was marked by the setting up of the ITPL in Bangalore; a development that met with great success. However, with global businesses shifting interests towards India, and competing industrial parks emerging to meet the increasing demand, ITPL is faced with stiff competition from other industrial parks; and Singapore has since announced …
Penny Pricing And The Components Of Spread And Depth Changes, David K. Ding, K.H. Chuang, C. Chearoenwong
Penny Pricing And The Components Of Spread And Depth Changes, David K. Ding, K.H. Chuang, C. Chearoenwong
Research Collection Lee Kong Chian School Of Business
Recent studies show that decimal pricing led to significant reductions in the spread and depth on the NYSE. In this paper, we examine how the observed changes in the spread and depth can be attributed to different factors. We show that stocks with higher proportions of one-tick spreads and odd-sixteenth quotes, and more frequent trading before decimalization experienced larger declines in the spread and depth afterwards. We interpret this result as evidence of reduced binding constraints and increased price competition under decimal pricing. We also find that decimal pricing led to nontrivial changes in select stock attributes, and that these …
U-Commerce: Emerging Trends And Research Issues, H. Galanxhi-Janaqi, Fiona Fui-Hoon Nah
U-Commerce: Emerging Trends And Research Issues, H. Galanxhi-Janaqi, Fiona Fui-Hoon Nah
Research Collection School Of Computing and Information Systems
Ubiquitous commerce or u-commerce is the combination of traditional e-commerce and wireless, television, voice and silent commerce. U-commerce implies ubiquity, universality, uniqueness and unison. It is not a replacement for other types of commerce, but an extension of them. While bringing many benefits, there are challenges and impediments to overcome. Research is needed to assess the value of u-commerce and to address its related issues and challenges. Questions that need to be addressed are: What is the value of u-commerce? What are the ways to maximize the benefits and value of u-commerce? Is it the right technology and what directions …
Logistics Network Design With Differentiated Delivery Lead Time: A Chemical Industry Case Study, Michelle Lee Fong Cheong, Rohit Bhatnagar, Stephen C. Graves
Logistics Network Design With Differentiated Delivery Lead Time: A Chemical Industry Case Study, Michelle Lee Fong Cheong, Rohit Bhatnagar, Stephen C. Graves
Research Collection School Of Computing and Information Systems
Most logistics network design models assume exogenous customer demand that is independent of the service time or level. This paper examines the benefits of segmenting demand according to lead-time sensitivity of customers. To capture lead-time sensitivity in the network design model, we use a facility grouping method to ensure that the different demand classes are satisfied on time. In addition, we perform a series of computational experiments to develop a set of managerial insights for the network design decision making process.
Organizational Politics And Multisource Feedback: An Opportunity Or A Threat?, Gary J. Greguras, John M. Ford
Organizational Politics And Multisource Feedback: An Opportunity Or A Threat?, Gary J. Greguras, John M. Ford
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Two-Echelon Repairable Item Inventory System With Limited Repair Capacity Under Nonstationary Demands, Hoong Chuin Lau, Huawei Song
Two-Echelon Repairable Item Inventory System With Limited Repair Capacity Under Nonstationary Demands, Hoong Chuin Lau, Huawei Song
Research Collection School Of Computing and Information Systems
We study a repairable item inventory system under limited repair capacity and nonstationary Poisson demands, motivated by corrective maintenance of military equipment. Our goal is to minimize the cost of both spare and repair resource allocation. We propose an efficient analytical model that combines optimization modeling and queuing theory.
Job Scheduling With Unfixed Availability Constraints, Hoong Chuin Lau, C. Zhang
Job Scheduling With Unfixed Availability Constraints, Hoong Chuin Lau, C. Zhang
Research Collection School Of Computing and Information Systems
Standard scheduling theory assumes that all machines are continuously available throughout the planning horizon. In many manufacturing and service management situations however, machines need to be maintained periodically to prevent malfunctions. During the maintenance period, a machine is not available for processing jobs. Hence, a more realistic scheduling model should take into account machine maintenance activities. In this paper, we study the problem of job scheduling with unfixed availability constraints on a single machine. We first propose a preliminary classification for the scheduling problem with unfixed availability constraints based on maintenance constraints, job characteristics and objective function. We divide our …
International Joint Ventures And Political Risk, Sundaram Janakiramanan, Lamba Asjeet S.
International Joint Ventures And Political Risk, Sundaram Janakiramanan, Lamba Asjeet S.
Research Collection Lee Kong Chian School Of Business
In recent years, a number of researchers have examined the existence and source of shareholder wealth effects around announcements of international joint ventures. The results of these studies are mixed with no clear answers as to when and why investors attach value to firms using joint ventures to enter overseas markets. In this context, we examine the shareholder wealth effects for 92 international joint venture announcements made by Australian firms during June 1988 - December 1997. We find that, on average, shareholders of firms announcing joint ventures realize an abnormal return of +1.65% over the two-day announcement period of days …
Style Effects In The Cross-Section Of Stock Returns, Melvyn Teo, Sung-Jun Woo
Style Effects In The Cross-Section Of Stock Returns, Melvyn Teo, Sung-Jun Woo
Research Collection Lee Kong Chian School Of Business
Using CRSP stock and mutual fund data, we find strong evidence for reversals at the style level (e.g., large value, small growth, etc.). There are significant excess and risk-adjusted returns for stocks in styles characterized by the worst past returns and net inflows. We also find evidence for momentum and positive feedback trading at the style level. These value and momentum effects are driven neither by fundamental risk nor by stock-level reversals and momentum. Taken together, the results are consistent with the style-level positive feedback trading model of Barberis and Shleifer (2003).
The Relationship Between Governance Structure And Risk Management Approaches In Japanese Venture Capital Firms, Toru Yoshikawa, Phillip H. Phan, Jonathan Linton
The Relationship Between Governance Structure And Risk Management Approaches In Japanese Venture Capital Firms, Toru Yoshikawa, Phillip H. Phan, Jonathan Linton
Research Collection Lee Kong Chian School Of Business
This paper attempts to understand what drives Japanese venture capital (JVC) fund managers to select either active managerial monitoring or portfolio diversification to manage their firms' investment risks [J. Bus. Venturing 4 (1989) 231]. Unlike U.S. venture capitalists that use active managerial monitoring to gain private information in order to maximize returns [J. Finance 50 (1995) 301], JVCs have traditionally used portfolio diversification to attenuate investment risks [Hamada, Y., 2001. Nihon no Bencha Kyapitaru no Genkyo (Current State of Japanese Venture Capital), Nihon Bencha Gakkai VC Seminar, May 7]. We found that performance pay is positively related to active monitoring …
The Impact Of Regulation Fair Disclosure On Information Asymmetry And Trading: An Intraday Analysis, Chiraphol N. Chiyachantana, Christine X. Jiang, Nareerat Taechapiroontong, Robert A. Wood
The Impact Of Regulation Fair Disclosure On Information Asymmetry And Trading: An Intraday Analysis, Chiraphol N. Chiyachantana, Christine X. Jiang, Nareerat Taechapiroontong, Robert A. Wood
Research Collection Lee Kong Chian School Of Business
This study examines the impact of Regulation Fair Disclosure (FD) on liquidity, information asymmetry, and institutional and retail investors trading behavior. Our main findings suggest three conclusions. First, Regulation FD has been effective in improving liquidity and in decreasing the level of information asymmetry. Second, retail trading activity increases dramatically after earnings announcements but there is a significant decline in institutional trading surrounding earnings announcements, particularly in the pre‐announcement period. Last, the decline in information asymmetry around earnings announcements is closely associated with a lower participation rate in the pre‐announcement period and more active trading of retail investors after earnings …
Watching The Shop From The Front Seat: Determinants Of Venture Capitalists' Representation On The Board, Reddi Kotha, Eli Talmor
Watching The Shop From The Front Seat: Determinants Of Venture Capitalists' Representation On The Board, Reddi Kotha, Eli Talmor
Research Collection Lee Kong Chian School Of Business
Oversight and involvement are essential for a venture capital firm to influence the destiny of the portfolio company. This paper focuses primarily on the venture capital firm’s decision to take a formal responsibility through joining the board. Our study uses a large sample of private British companies that received institutional investment between 1999 and 2002. We examine the determinants of board composition and board size. Contrary to common belief, only 30 % of the companies have any institutional investor (a “VC”) on board. The decision to take a formal board seat is based on the ability to make a contribution: …
Corrective Maintenance Optimization In An Air Force, Hoong Chuin Lau, K. Y. Neo, W. C. Wan
Corrective Maintenance Optimization In An Air Force, Hoong Chuin Lau, K. Y. Neo, W. C. Wan
Research Collection School Of Computing and Information Systems
Successful military mission planning and execution depend critically on equipment serviceability and resupply. Due to the stochastic nature of demands, the forecast of optimal spares and resources needed to guarantee the level of serviceability is a complex problem, especially in a multi-echelon setting. In this paper, we propose a decision-support concept and software tool known as Corrective Maintenance Optimizer (CMO) that helps to optimize system availability, through proper allocation of spare parts, both strategically and operationally.
Measuring Marketing Productivity: Current Knowledge And Future Directions, Roland T. Rust, Tim Ambler, Gregory S. Carpenter, V. Kumar, Rajendra Kumar Srivastava
Measuring Marketing Productivity: Current Knowledge And Future Directions, Roland T. Rust, Tim Ambler, Gregory S. Carpenter, V. Kumar, Rajendra Kumar Srivastava
Research Collection Lee Kong Chian School Of Business
For too long, marketers have not been held accountable for showing how marketing expenditures add to shareholder value. As time has gone by, this lack of accountability has undermined marketers' credibility, threatened the standing of the marketing function within the firm, and even threatened marketing's existence as a distinct capability within the firm. This article proposes a broad framework for assessing marketing productivity, cataloging what is already known, and suggesting areas for further research. The authors conclude that it is possible to show how marketing expenditures add to shareholder value. The effective dissemination of new methods of assessing marketing productivity …
Prospect Theory, Analyst Forecast, And Stock Returns, David K. Ding, Charlie Charoenwong, Raymond Seetoh
Prospect Theory, Analyst Forecast, And Stock Returns, David K. Ding, Charlie Charoenwong, Raymond Seetoh
Research Collection Lee Kong Chian School Of Business
This paper documents how prospect theory can be used to explain stock returns and analysts' forecast behavior. Positive earnings surprises are associated with increases in abnormal returns but negative earnings surprises have only a limited negative impact on returns. We find that analysts display asymmetric behavior towards positive and negative earnings growth. Analysts' forecasts are found to be accurate during periods of positive earnings growth, but overly optimistic during periods of negative earnings growth. Our findings have implications for the structuring of investment products, as well as the role of market timing in their introduction.
The Role Of Manufacturing Flexibility On Product Platform Development, Soumen Ghosh, Byung Joon Park
The Role Of Manufacturing Flexibility On Product Platform Development, Soumen Ghosh, Byung Joon Park
Research Collection Lee Kong Chian School Of Business
In recent years firms from a range of industries have responded to growing market uncertainty by investing heavily in manufacturing flexibility. Manufacturing Flexibility is understood as process flexibility, that is a process that results from being able to build different types of products on the same production line at the same time. One benefit of manufacturing flexibility is the reduction of change over cost from building one product to another. Flexible manufacturing also relieves the problem of overcapacity, since excessive overcapacity could be avoided through the introduction of flexible manufacturing plants. Recently, firms have examined a new concept of enabling …
Chaos-Induced Escape Over A Potential Barrier, L. Y. Chew, Hian Ann, Christopher Ting, C. H. Lai
Chaos-Induced Escape Over A Potential Barrier, L. Y. Chew, Hian Ann, Christopher Ting, C. H. Lai
Research Collection Lee Kong Chian School Of Business
We investigate the statistical parity of a class of chaos-generated noises on the escape of strongly damped particles out of a potential well. We show that statistical asymmetry in the chaotic fluctuations can lead to a skewed Maxwell–Boltzmann distribution in the well. Depending on the direction of skew, the Kramers escape rate is enhanced or suppressed accordingly. Based on the Perron–Frobenious equation, we determine an analytical expression for the escape rate’s prefactor that accounts for this effect. Furthermore, our perturbative analysis proves that in the zeroth-order limit, the rate of particle escape converges to the Kramers rate.
Exploitation, Exploration, And Firm Performance: The Case Of Small Manufacturing Firms In Japan, Takehiko Isobe, Shige Makino, David B. Montgomery
Exploitation, Exploration, And Firm Performance: The Case Of Small Manufacturing Firms In Japan, Takehiko Isobe, Shige Makino, David B. Montgomery
Research Collection Lee Kong Chian School Of Business
The purpose of this study is to investigate the relationship between technological capabilities and firm performance. We divide technological capabilities into two types – exploitation, which refers to refinement, production and execution, and exploration, which refers to searching, flexibility, and innovation. Based on a sample of 302 small and medium-sized manufacturing firms in Japan, our analysis reveals that exploitation relates more positively to operational efficiency than exploration, and conversely, exploration relates more positively to strategic performance, such as technological innovation and new product development, than exploitation. Moreover, firms with superior exploitation capabilities tend to possess superior exploration skills. Our findings …
Investing In Hedge Funds: Risks, Returns And Performance Measurement, Francis Koh, Winston T. H. Koh, David K. C. Lee, Kok Fai Phoon
Investing In Hedge Funds: Risks, Returns And Performance Measurement, Francis Koh, Winston T. H. Koh, David K. C. Lee, Kok Fai Phoon
Research Collection Lee Kong Chian School Of Business
Hedge funds are collective investment vehicles that are often established with a special legal status that allows their investment managers a free hand to use derivatives, short sell, and exploit leverage to raise returns and cushion risk. We review various issues relating to the investment in hedge funds, which have become popular with high net-worth individuals and institutional investors, as well as discuss their empirical risk and return profiles. The concerns regarding the empirical measurements are highlighted, and meaningful analytical methods are proposed to provide greater risk transparency in performance reporting. We also discuss the development of the hedge fund …
How To Make Knowledge Management A Dynamic Capability, Arun Kumaraswamy, Raghu Garud
How To Make Knowledge Management A Dynamic Capability, Arun Kumaraswamy, Raghu Garud
Research Collection Lee Kong Chian School Of Business
No abstract provided.
The Contribution Of A Satellite Market To Price Discovery: Evidence From The Singapore Exchange, Vicentiu Covrig, David K. Ding, Buen Sin Low
The Contribution Of A Satellite Market To Price Discovery: Evidence From The Singapore Exchange, Vicentiu Covrig, David K. Ding, Buen Sin Low
Research Collection Lee Kong Chian School Of Business
The Singapore Exchange (SGX), a small satellite market, successfully competes with a large home market, the Osaka Securities Exchange (OSE), in trading the Nikkei 225 futures index. In this paper, we investigate the contribution of the SGX to price discovery and shed light on the reasons for its continued success. Evidence is provided from information revelation and price discovery of three competing but informationally linked markets of the Nikkei 225 index - domestic spot (Tokyo Stock Exchange), domestic futures (OSE), and foreign futures (SGX), which represents the satellite market. Overall, the futures market contributes 77% to price discovery, with the …
House Prices And Fundamental Value, John Krainer, Chi Shen Wei
House Prices And Fundamental Value, John Krainer, Chi Shen Wei
Research Collection Lee Kong Chian School Of Business
The performance of the residential housing market over the last ten years has been remarkable. According to the Office of Federal Housing Enterprise Oversight (OFHEO), house prices have appreciated at an annual rate of 5.4% on average (68.9% over the whole time period). Perhaps even more remarkable is that the performance was strong even when economic activity overall was weak. Average annual appreciation rates have been 7.4% (26% in total) since the collapse of the Nasdaq in 2000 and 7.1% (20% in total) since 2001:Q1, the beginning of the 2001 recession. In contrast, since the start of the 2001 recession, …
Future Perspectives On Employee Selection: Key Directions For Future Research And Practice, Neil Anderson, Filip Lievens, Karen Van Dam, Ann Marie Ryan
Future Perspectives On Employee Selection: Key Directions For Future Research And Practice, Neil Anderson, Filip Lievens, Karen Van Dam, Ann Marie Ryan
Research Collection Lee Kong Chian School Of Business
A future-oriented perspective for selection and assessment research is presented. Four superordinate themes of critical import to the development of future research are identified: (i) bimodal prediction, (ii) multilevel fit, (iii) applicant reactions and decision making, and (iv) tensions between research and practice in employee selection. Under each theme we pose a number of outstanding questions for research. Implications for practice and the ongoing advancement of the sub-field of selection, traditionally one of the most robust core disciplines in international IWO psychology, are discussed.
The Economy And Demand For Finance Ph.D.S: 1989-2001, David K. Ding, Sheng-Syan Chen
The Economy And Demand For Finance Ph.D.S: 1989-2001, David K. Ding, Sheng-Syan Chen
Research Collection Lee Kong Chian School Of Business
We investigate the demand for new finance Ph.D.s from 1989 to 2001. Three categories of schools (Top 20, Top 21-50, and Other Finance Departments) are explored and the differences between private and public institutions are reported. The demand for assistant professors is the greatest and most institutions require an earned Ph.D. While most do not specify the position type, there is some evidence that tenure-tracked ones are on the rise. The most desired areas of expertise are corporate/business finance, investments, and bank management/financial markets and institutions. The total demand is positively related to the Gross Domestic Product and Dow Jones.
The Making Of An Innovator, Hian Teck Hoon
The Making Of An Innovator, Hian Teck Hoon
Research Collection School Of Economics
Innovators experiment with things to come up with new ideas to improve the quality of existing products, develop differentiated or new products and re-organise business processes to lower costs. In a big corporation, there might be a whole R&D department where innovators are employed to design new blueprints so the company can constantly make new offerings. But innovators can also be found in small enterprises tinkering with recipes, for example, to win new customers. Innovators no doubt derive pleasure from their creative work. Yet, in modern economies, they must be employed in a firm that successfully translates their innovative activity …