Business Commons^™

Creating The Capacity For Digital Government, Cheow Hoe Chan, Steven M. Miller

Asian Management Insights

This article explains how a well-thought-out data policy, supported by a tech stack and cloud infrastructure, an agile way of working, and coordinated whole-of-government leadership, are fundamental to successful government digital transformation efforts, as exemplified by the Singapore government’s digital journey. As part of explaining how to create the capacity for digital government, the main sections of this article cover:

• The origins of GovTech
• How thinking big, starting small and acting fast is a practical strategy for organisational learning
• The importance of horizontal platforms and other enablers of a horizontal approach
• Data architecture and policy
• “Shifting left” with internal technology …

Steering Steadily In The Post-Pandemic World, Chartsiri Sophopanich, Chin Tiong Tan

Asian Management Insights

Chartsiri Sophonpanich, President of Bangkok Bank, speaks with Tan Chin Tiong about the future of banking in Thailand and the region as the world slowly emerges from the COVID-19 pandemic.

Harnessing The Power Of Video Ads, Linyi Li

Asian Management Insights

In digital advertising, video ads as a top-of-funnel function have a longer-lasting efect than display and search ads on a consumer's consciousness.

Towards A Design Space For Storytelling On The Fashion Technology Runway, Sydney Pratte, Anthony Tang, Shannon Hoover, Maria Elena Hoover, Matt Laprarie, Catherine Larose, Lora Oehlberg

Research Collection School Of Computing and Information Systems

Fashion is driven by a narrative, i.e. a story or idea that the designer wants to convey to the audience. Fashion-tech now adds another dimension to this narrative through dynamically changing aspects of the garments. Many factors of presentation in a runway show affect how fashion-tech garments communicate a story to the audience. In this pictorial, we review a set of twenty-eight storytelling fashion-tech garments. We identify, catalogue, and categorize the factors designers used to convey stories to the audience from the runway. The design space consists of three levels: (1) the artifact-level, (2) the viewer-level, and (3) the context-level. …

Don't Try To Be A Superman, N. Edwin Widjornako

Asian Management Insights

N. Edwin Widjonarko, co-founder and Director of Technology of Xurya, speaks about his entrepreneurial journey in Indonesia’s solar power generation space.

Participatory Digital Futures, Mark Findlay, Sharanya Shanmugam

Asian Management Insights

How digital transformation can be made good for all.

Real Estate Assets: To Build Or Not To Build?, Chaik Ming Koh

Asian Management Insights

It’s about when, not whether.

Robowealth: Boosting Financial Inclusion In Thailand, Chiraphol N. Chiyachantana, David K. Ding, Pattarawan Mai Prasarnphanich, Chi Wei Chan

Asian Management Insights

Advanced fintech lowers barriers to investing.

Peer Effects In Equity Research, Kenny Phua, Mandy Tham, Chi Shen Wei

Research Collection Lee Kong Chian School Of Business

We study the importance of peer effects among sell-side analysts who work at the same brokerage house, but cover different firms. By mapping the information network within each brokerage, we identify analysts who occupy central positions in their network. Central analysts incorporate more information from their coworkers and produce better research. Using shocks to network structures around brokerage mergers, we identify the influence of peer effects and the importance of industry expertise on analysts’ performance. A portfolio strategy that exploits the forecast revisions of central analysts earns up to 24% per annum.

Digitalisation Touches Everything, Havovi Joshi

Asian Management Insights

Digitalisation touches everything

Social Media: Enabling Touchpoints Beyond Advertising, Kapil R. Tuli, Sheetal Bhardwaj

Asian Management Insights

An effective customer service platform and a strategic communication channel.

Accelerating Business Transformation In The Digital Age, Gary Pan, Shankararaman, Venky

Research Collection School Of Accountancy

Business Transformation involves making fundamental changes in how business is conducted in order to help cope with shifts in market environment. This chapter focuses on the role played by digital technology in business transformation and the mindset shifts required to embark on a digital transformation journey. More relevantly, this chapter also highlights how data analytics is driving digital transformation.

Exploring Diversity And Depth Of Knowledge, Metacognition, And Individual Ambidexterity, Deddi Tedjakumara

Dissertations and Theses Collection (Open Access)

Recent data show that the average lifespan of a company listed in the Standard and Poor's 500 (S&P 500) Index has declined from 32 years in 1965 to 21 years in 2020 (Clark, 2021), and it is estimated that 75% of the companies listed in the S&P 500 today will disappear from the list by 2027 (Hillenbrand, 2019). Organizational theory holds that for a company to be sustainable, it must strike a balance between exploring new possibilities and exploiting old certainties (March, 1991). The ability to manage the tension between exploration and exploitation is important at both organizational and individual …

Why And How Leaders Differentiate?, Srishti Banerjee

Dissertations and Theses Collection (Open Access)

A key tenet of Leader-Member Exchange (LMX) Theory is that leaders treat followers differently, referred to as leader-member exchange differentiation (LMXD) (Yu et al., 2018). When leaders treat followers differently, they develop a varying quality of relationships within the team referred to as LMX quality (LMXQ). LMXQ has received the vast majority of research with findings being largely consistent that higher quality relationships benefit followers (Yu et al., 2018). In contrast, surprisingly, much less research has focused on how this actual differentiation (LMXD) impacts employee reactions and there are no conclusive findings regarding its effects (Bauer & Erdogan, 2015; Chen …

Family Wealth Advisory Services In China – What Kind Of Advisors Can Be More Competent And Successful?, Yang Shen

Dissertations and Theses Collection (Open Access)

High net worth wealth owners generally need various advisory services to meet their wealth management needs, such as investment / global asset allocation, intergenerational succession planning, personal and family tax planning, next-generation education, health management, immigration arrangement for family members, etc.

At the current stage, this paper tries to answer below central research questions for Chinese wealth advisors:

1. From the Perspective of high-net-worth individuals (HNWI) in China, what characteristics should their wealth advisors bear to be considered competent?
2. Which key competency factors are mostly important in making the wealth advisor successful (reflected through performance rating of wealth advisors)?

The research …

How Do Values Matter In The Relation Between Organizational Trust And Performance? The Case Of China, Lu Jiang

Dissertations and Theses Collection (Open Access)

Trust in organizations has been demonstrated and discussed widely in research in Western cultures. With China’s rapidly developing economy, more and more Western managers work in China now, while an increasing number of Chinese managers work overseas. This makes research on the way trust in organizations operates in Chinese culture an important topic. This study contributes to the literature from the perspective of the way values matter in the relation between organizational trust and performance in China. This research proposes that in the context of China, employees’ and supervisor’s Confucian value system affects the trust in the supervisor positively, which …

A Study On The System Of Influential Factors For High-Quality Development Of Chinese Cultural And Tourism Small Towns: Insights From W Town, Yu Chen

Dissertations and Theses Collection (Open Access)

Under the dual support of the government and market, the number of cultural and tourism small towns in China has increased rapidly in recent years. However, many small towns have encountered problems such as poor performance, disputes over interests, and operational deficiencies during their rapid development. As China's economy gradually enters a phase of high-quality development, how to promote the high-quality development of cultural and tourism small towns has become a concern for experts in the industry and academia. Currently, research on the high-quality development of cultural and tourism small towns in China is relatively fragmented and lacks a comprehensive …

Humanized Management, Fairness Perception And Health Of Merchant Ecosystem: Driving Mechanisms Of The Digital Age, Zeyong Zhuang

Dissertations and Theses Collection (Open Access)

In the era of digital transformation, the competition among individual enterprises has evolved into competition of business ecosystems, and the merchants in shopping malls have evolved from atomistic competition to ecological competition. Therefore, merchants must ensure the health of business ecosystems to establish competitive advantages. This study uses the survey data of merchants in five shopping malls in Guangzhou to empirically test the mechanism of the effect of humanized management on the health of business ecosystems in the context of digital transformation.

The empirical results show that: 1. Humanized management of shopping malls helps to build trust and loyalty, promote …

“High” Innovators? Marijuana Legalization And Regional Innovation, Stephanie Cheng, Pengkai Lin, Yinliang Tan, Yuchen Zhang

Research Collection School Of Accountancy

The past three decades have witnessed a tremendous shift in public health policies towards marijuana legalization in the U.S. Adopting the process-based view of innovation, we hypothesize that marijuana's increased use and related consequences after its legalization affect innovators’ behavior and social environment during the innovation process, which in turn impacts regional innovation. Utilizing the staggered adoption of medical marijuana laws by 20 states between 1996 and 2013 as a quasi-experimental setting, we find that legalizing medical marijuana reduces the overall output of regional innovation, as proxied by patents’ total forward-citation count aggregated by innovator location. Further analyses decomposing the …

Nurturing Accountants With The Right Expertise For The Green Economy, Holly Yang, Jiwei Wang

Research Collection School Of Accountancy

In a commentary, SMU Associate Professor of Accounting and Co-Director (Academic Research) of School of Accountancy Research Holly Yang, and SMU Associate Professor of Accounting (Practice) Wang Jiwei, who is also Programme Director of Master of Professional Accounting and Master of Science in Accounting, highlighted the need to quickly equip the next generation of accountants with sustainability knowledge as sustainability reporting becomes an integral part of any organisation’s sustainability efforts. They discussed how integrating sustainability into the curriculum will nurture a new generation of accounting graduates suited for existing and upcoming positions in sustainability, and shared that at SMU, all …

Price Comovement And Market Segmentation Of Chinese A- And H-Shares: Evidence From A Panel Latent-Factor Model, Yingjie Dong, Wenxin Huang, Yiu Kuen Tse

Research Collection School Of Economics

This paper examines the price comovement of cross-listed Chinese A- and H-shares using a panel model with latent factors and a heterogeneous long-run structure. Our model is more flexible than the cointegration system and is estimated using the data-driven Cup–Lasso method. The long-run H-share price discounts are heterogeneous across different groups of stocks. We have identified both stationary and nonstationary latent factors in the price differentials, which are driven by different economic variables. By analyzing the factor loadings of the nonstationary latent factor, we identify some trading-friction and information-friction variables that have effects on the price convergence between the A- …

The Coming Central Bank Digital Currency Revolution And The E-Cny, Heng Wang, Ross Buckley

Research Collection Yong Pung How School Of Law

The only central bank money individuals and businesses have today is cash. Everything else they use as money is commercial bank promises. Central bank digital currencies (“CBDC”) will likely change all this by putting central bank money into everyone’s hands. China is a front runner in this revolution, and its CBDC, the e-CNY, may well in time profoundly affect the international economic order. This article analyses the major considerations around the e-CNY, its ramifications, in particular for trade, and its possible challenges.

Exchange-Traded Funds And Real Investment, Constantinos Antoniou, Frank Weikai Li, Xuewen Liu, Avanidhar Subrahmanyam, Chengzhu Sun

Research Collection Lee Kong Chian School Of Business

We investigate the link between exchange-traded funds and real investment. Cross-sectionally, higher ETF ownership is associated with an increased sensitivity of real investment to Tobin's q and a heightened ability of stock returns to forecast future earnings. Inclusion of stocks in industry ETFs enhances investment-q sensitivity and implies greater incorporation of earnings information into prices prior to public releases. Greater nonmarket ETF ownership leads to increased (reduced) reliance of real investment on own (peers') stock prices. Overall, the evidence is consistent with ETFs positively affecting real investment efficiency via greater flows of information.

The Future Of Private Label Markets: A Global Convergence Approach, Katrijn Gielens, Marnik G. Dekimpe, Anirban Mukherjee, Kapil R. Tuli

Research Collection Lee Kong Chian School Of Business

Private-label (PL) shares are characterized by considerable heterogeneity across both countries and categories, not only in their current level, but also in the rate at which they are growing. This creates ambiguity about their remaining growth potential. To offer insights into the likely long-run PL shares, we take a forward-looking perspective by means of a convergence model. We apply the model to two unique datasets that together span more than 50 countries, both emerging and developed, across more than70 CPG categories. We find evidence of partial PL convergence: even though PL shares will become more similar, part of the currently …

Consumers’ Preferences For Ethical Entertainment Consumption: Conceptualization, Development, And Validation Of A Scale, Avirupa Basu, Tamas Makany, Pratap Chandra Mandal, Ashutosh Bishnu Murti

Research Collection Lee Kong Chian School Of Business

Our study describes the conceptualization, development, and validation of a reliable scale to measure the Consumers’ Preferences for Ethical Entertainment Consumption (CPEEC) in the context of OTT platforms. Past literature has addressed Ethical Consumption in various contexts that hold significant importance among consumers. However, there is limited literature on the Ethical Consumption in the domain of OTT entertainment, which is a new and burgeoning field of literature. Conceptualizing and developing a measurement scale for CPEEC will help measure the ethicality of entertainment like films, web shows and reality shows. The CPEEC scale is developed and validated by performing 33 in-depth …

Exogenous Loss Of Analyst Coverage And Choice Of Audit Quality, Simon Yu Kit Fung, Zheng Wang, Liandong Zhang, Xindong Zhu

Research Collection School Of Accountancy

We show that a firm’s likelihood of appointing auditors with industry expertise or with a larger office increases after the firm is affected by an exogenous reduction in analyst coverage, relative to its matched control firms. This effect is stronger for affected firms with greater reductions in analyst monitoring, for smaller or younger firms, for firms with lower institutional or CEO ownership, and when the lost analysts are more effective monitors. We further show that affected firms that switch to high-quality auditors receive more positive market reaction, experience a smaller decrease in stock liquidity and a smaller increase in cost …

Loan Spreads And Credit Cycles: The Role Of Lenders' Personal Economic Experiences, Daniel Carvalho, Janet Gao, Pengfei Ma

Research Collection Lee Kong Chian School Of Business

We provide evidence that changes in lender optimism can lead to excessive fluctuations in credit spreads across the credit cycle. Using data on the real estate properties of loan officers originating large corporate loans, we find that credit spreads overreact to sophisticated lenders' recent local economic experiences, captured by local housing price growth. These effects are only present when borrowers own real estate assets and during times of greater uncertainty about real estate values, i.e., boom-and-bust cycles in housing prices. Our analysis suggests that recent personal experiences shape sophisticated lenders' beliefs about real estate values, which affect their pricing decisions.

Strategic Financial Management Part Iii: Debt Maturity And Priority And Corporate Liquidity, Fangjian Fu, Clifford W. Smith

Research Collection Lee Kong Chian School Of Business

This is the third in our series ofJACFarticles that explores thecorporate motives for and consequences of seasoned equity offer-ings (SEOs) by U.S. public companies over the past 50 years. Likeits two predecessors, this article begins by examining each of thethree standard theories (or “models”) of corporate capital structureand financing policy that continue to receive serious considerationin academic discussions: (1) the Tradeoff Model;(2)thePeckingOrder Model, and (3) theMarket Timing Model.Aswealsobeganby noting in our two previous articles, each of these three modelshas implications that do not fit comfortably with the findings ofour analysis of over 8500 SEOs by U.S. companies between 1970and 2019.

Forecasting Airport Transfer Passenger Flow Using Realtime Data And Machine Learning, Xiaojia Guo, Yael Grushka-Cockayne, Bert De Reyck

Research Collection Lee Kong Chian School Of Business

Problem definition: In collaboration with Heathrow airport, we develop a predictive system that generates quantile forecasts of transfer passengers’ connection times. Sampling from the distribution of individual passengers’ connection times, the system also produces quantile forecasts for the number of passengers arriving at the immigration and security areas. Academic/Practical relevance: Airports and airlines have been challenged to improve decision-making by producing accurate forecasts in real time. Our work is the first to apply machine learning for predicting real-time quantile forecasts in the airport. We focus on passengers’ connecting journeys, which have only been studied by few researchers. Better forecasts of …

Multiple, Speeded Assessments Under Scrutiny: Underlying Theory, Design Considerations, Reliability, And Validity, Christoph N. Herde, Filip Lievens

Research Collection Lee Kong Chian School Of Business

Recently, multiple, speeded assessments (e.g., “speeded” or “flash” role-plays) have made rapid inroads into the selection domain. So far, however, the conceptual underpinning and empirical evidence related to these short, fast-paced assessment approaches has been lacking. This raises questions whether these speeded assessments can serve as reliable and valid indicators of future performance. This paper uses the notions of stimulus and response domain sampling to conceptualize multiple, speeded behavioral job simulations as a hybrid of established simulation-based selection methods. Next, we draw upon the thin slices of behavior paradigm to theorize about the quality of ratings made in multiple, speeded …