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Articles 1 - 30 of 86
Full-Text Articles in Business
Dynamic Scheduling With Uncertain Job Types, Zuo-Jun Max Shen, Jingui Xie, Zhichao Zheng, Han Zhou
Dynamic Scheduling With Uncertain Job Types, Zuo-Jun Max Shen, Jingui Xie, Zhichao Zheng, Han Zhou
Research Collection Lee Kong Chian School Of Business
Uncertain job types can arise as a result of predictive or diagnostic inaccuracy in healthcare or repair service systems and unknown preferences in matching service systems. In this paper, we study systems with multiple types of jobs, in which type information is imperfect and will be updated dynamically. Each job has a prior probability of belonging to a certain type which may be predicted by data, models, or experts. A job can only be processed by the right machine, and a job assigned to the wrong machine must be rescheduled. More information is learned from the mismatch, and job type …
Behavioral Factors Associated With Patients' Non-Attendance: A Retrospective Study In An Outpatient Specialty Clinic At A Women's And Children's Hospital In Singapore, Yue Tang, Houyuan Jiang, Zhichao Zheng, Zhichao Zheng, Chui Yee Loke, Bee Keow Goh
Behavioral Factors Associated With Patients' Non-Attendance: A Retrospective Study In An Outpatient Specialty Clinic At A Women's And Children's Hospital In Singapore, Yue Tang, Houyuan Jiang, Zhichao Zheng, Zhichao Zheng, Chui Yee Loke, Bee Keow Goh
Research Collection Lee Kong Chian School Of Business
Background: This study aimed to identify behavioral factors that affect patient attendance in outpatient clinics, especially those related to rescheduling.Methods: A retrospective study was conducted on 20,386 appointment records for 6,252 patients in an outpatient specialty clinic at a women’s and children’s hospital in Singapore over 34 months (January 2012–October 2014). Multivariate logistic regression was used to analyze the influence of independent variables on appointment no-shows.Results: The average no-show rate of the study population was 28.87%. Patient historical behaviors were significantly associated with appointment attendance. In particular, a larger number of previous visits, more historical no-shows, more historical rescheduling events …
R&D Project Portfolio Collaboration: How To Structure The Strategic Alliance, Guiyun Feng, Pascale Crama, Wenqi Lian
R&D Project Portfolio Collaboration: How To Structure The Strategic Alliance, Guiyun Feng, Pascale Crama, Wenqi Lian
Research Collection Lee Kong Chian School Of Business
Incumbent companies target innovative firms with promising research and development (R&D) projects to rejuvenate their product portfolio. Such strategic alliances create value by combining the innovator’s research expertise with the partner firm’s superior marketing capability. The partner firm chooses the timing and payment terms of the strategic alliance, accounting for the innovator's budget and marketing capability, and the project portfolio's market interaction and revenue variability. The partner firm may prefer delayed alliances post R&D completion for innovator firms with high marketing capability when the innovator has sufficient budget or when market interaction is weak. Upfront alliances - prior to the …
Which Businesses Enroll In Innovation Training? Evidence From A Field Experiment, Pascale Crama, Reddi Kotha, Cintia Kulzer Sacilotto, Vish Krishnan
Which Businesses Enroll In Innovation Training? Evidence From A Field Experiment, Pascale Crama, Reddi Kotha, Cintia Kulzer Sacilotto, Vish Krishnan
Research Collection Lee Kong Chian School Of Business
We report results from a field experiment testing hypotheses that examine what drives firms to seek new learning opportunities. Specifically, we draw on behavioral theory of the firm to predict how prior performance affects the likelihood a firm enrolls in business training. We also evaluate cognitive mechanisms connecting recruitment messaging and CEO growth orientation to firm participation. Our study randomly allocates over 10,000 firms to one of three experimental conditions—prevention, promotion, and neutral messaging—that vary the framing of a recruitment message for an innovation program for small and medium enterprises (SMEs) in Singapore. We leverage pre-treatment heterogeneity in firm performance …
Pricing Under Uncertainty: Forward And Option Pricing In Sports Markets, Preethika Sainam, Sridhar Balasubramanian, Shantanu Bhattacharya, Lin L. Ong
Pricing Under Uncertainty: Forward And Option Pricing In Sports Markets, Preethika Sainam, Sridhar Balasubramanian, Shantanu Bhattacharya, Lin L. Ong
Research Collection Lee Kong Chian School Of Business
Tickets to popular elimination style tournaments (e.g., NFL Super Bowl) are expensive and scarce. Sports organizations sell these tickets well in advance of the final game. Fans hesitate to buy them because they are unsure about whether their favorite team will play in it. We present two alternatives to the current practice: consumer forwards and options. A fan pays a reserve price to secure her team-specific forward ticket. If that team makes it to the final game, the fan must (in the option case, has the choice to) pay an exercise price to purchase the ticket. If the team does …
London Heathrow Airport Uses Real-Time Analytics For Improving Operations, Xiaojia Guo, Yael Grushka-Cockayne, Bert De Reyck
London Heathrow Airport Uses Real-Time Analytics For Improving Operations, Xiaojia Guo, Yael Grushka-Cockayne, Bert De Reyck
Research Collection Lee Kong Chian School Of Business
Improving airport collaborative decision making is at the heart of airport operations centers (APOCs) recently established in several major European airports. In this paper, we describe a project commissioned by Eurocontrol, the organization in charge of the safety and seamless flow of European air traffic. The project’s goal was to examine the opportunities offered by the colocation and real-time data sharing in the APOC at London’s Heathrow airport, arguably the most advanced of its type in Europe. We developed and implemented a pilot study of a real-time data-sharing and collaborative decision-making process, selected to improve the efficiency of Heathrow’s operations. …
Managing Clinic Variability With Same-Day Scheduling, Intervention For No-Shows, And Seasonal Capacity Adjustments, Kum Khiong Yang, Tugba Cayirli
Managing Clinic Variability With Same-Day Scheduling, Intervention For No-Shows, And Seasonal Capacity Adjustments, Kum Khiong Yang, Tugba Cayirli
Research Collection Lee Kong Chian School Of Business
This study investigates demand and capacity strategiesfor managing clinic variability. These include (i) same-day scheduling tocontrol random walk-ins, (ii) no-show intervention, where the clinic callsadvance-booked patients a day before to identify and release canceled slots tosame-day patients, and (iii) adjustments to daily number of appointments foradvance-booked patients to match seasonal variations in same-day demand. Thesestrategies are tested over the individual-block/fixed-interval (IBFI) and theDome appointment rules. The resulting appointment systems are tested underscenarios with different levels of same-day demand, demand seasonality,no-shows and cost ratios. The goal is to minimize the weighted sum of patients’wait time and physician’s idle-time and overtime. Our …
Urban Consolidation Center Or Peer-To-Peer Platform? The Solution To Urban Last-Mile Delivery, Qiyuan Deng, Xin Fang, Yun Fong Lim
Urban Consolidation Center Or Peer-To-Peer Platform? The Solution To Urban Last-Mile Delivery, Qiyuan Deng, Xin Fang, Yun Fong Lim
Research Collection Lee Kong Chian School Of Business
Booming e-commerce activities further increase this demand, exerting intense pressure on the cities' well-being. To build a city with congestion and pollution under control, a consolidator can operate an urban consolidation center (UCC) to bundle shipments from multiple carriers before the last-mile delivery. Alternatively, the consolidator can operate a peer-to-peer platform for the carriers to share their delivery capacity. Our objective is to compare the performance of these two business models. Under each business model, we study the interactions between a consolidator and multiple carriers using a two-period game-theoretical model. In each period, the consolidator first chooses a delivery fee …
Selling Off-Grid Light To Liquidity Constrained Consumers, Bhavani Shanker Uppari, Ioana Popescu, Serguei Netessine
Selling Off-Grid Light To Liquidity Constrained Consumers, Bhavani Shanker Uppari, Ioana Popescu, Serguei Netessine
Research Collection Lee Kong Chian School Of Business
Problem definition: A large proportion of the world’s population has no access to electricity and so relies on noxious kerosene for their lighting needs. Solar-based solutions require a large up-front investment and are often unaffordable in this market owing to consumers’ tight liquidity constraints. As an alternative, there are business models relying on rechargeable light bulbs that are sold at a subsidized price (which renders them affordable) and require regular micropayments for recharges (which eases liquidity constraints). These bulbs provide a cheaper and healthier light source than kerosene, yet their adoption is lower than expected, and some consumers continue …
Scarcity In The Twenty-First Century: How The Resource Nexus Affects Management, Simon J. D. Schillebeeckx, Mark Workman, Charles Dean
Scarcity In The Twenty-First Century: How The Resource Nexus Affects Management, Simon J. D. Schillebeeckx, Mark Workman, Charles Dean
Research Collection Lee Kong Chian School Of Business
Since theadvent of the 21st century and especially since the food andfinancial crisis in 2008, concerns about natural resource availability haveresurfaced. While scarcity concerns date back hundreds of years and arefoundational to economics, how scarcity is interpreted or framed has evolved significantlyin the last two centuries. In this chapter, we recount the evolving scarcity discourseand specifically address the most recent iteration that centres on the idea ofa resource nexus. While significant attention to the nexus has been paid bypolicy-makers and scholars interested in especially water, management scholarshave so far remained absent from these debates. Given recent calls to address grand …
Vungle Inc. Improves Monetization Using Big-Data Analytics, Bert De Reyck, Ioannis Fragkos, Yael Gruksha-Cockayne, Casey Lichtendahl, Hammond Guerin, Andre Kritzer
Vungle Inc. Improves Monetization Using Big-Data Analytics, Bert De Reyck, Ioannis Fragkos, Yael Gruksha-Cockayne, Casey Lichtendahl, Hammond Guerin, Andre Kritzer
Research Collection Lee Kong Chian School Of Business
The advent of big data has created opportunities for firms to customize their products and services to unprecedented levels of granularity. Using big data to personalize an offering in real time, however, remains a major challenge. In the mobile advertising industry, once a customer enters the network, an ad-serving decision must be made in a matter of milliseconds. In this work, we describe the design and implementation of an ad-serving algorithm that incorporates machine-learning methods to make personalized ad-serving decisions within milliseconds. We developed this algorithm for Vungle Inc., one of the largest global mobile ad networks. Our approach also …
Appointment Systems Under Service Level Constraints, David Chen, Rowan Wang, Zhenzhen Yan, Saif Benjaafar, Oualid Jouini
Appointment Systems Under Service Level Constraints, David Chen, Rowan Wang, Zhenzhen Yan, Saif Benjaafar, Oualid Jouini
Research Collection Lee Kong Chian School Of Business
We consider a new model of appointment scheduling where customers are given the earliest possible appointment times under the service level constraint that the expected waiting time of each individual customer cannot exceed a given threshold. We apply the theory of majorization to analytically characterize the structure of the optimal appointment schedule. We show that, the optimal inter-appointment times increase with the order of arrivals. That is, the optimal inter-arrival time between two customers later in the arrival process is longer than that between two customers earlier in the arrival process. We study the limiting behavior of our system, and …
Optimal Selection Of Distributed Energy Resources Under Uncertainty And Risk Aversion, Lajos Maurovich-Horvat, Bert De Reyck, Paula Rocha
Optimal Selection Of Distributed Energy Resources Under Uncertainty And Risk Aversion, Lajos Maurovich-Horvat, Bert De Reyck, Paula Rocha
Research Collection Lee Kong Chian School Of Business
The adoption of small-scale electricity generation has been hindered by uncertain electricity and gas prices. In order to overcome this barrier to investment, we develop a mean-risk optimization model for the long-term risk management problem of an energy consumer using stochastic programming. The consumer can invest in a number of generation technologies, and also has access to electricity and gas futures to reduce its risk. We examine the role of on-site generation in the consumer's risk management strategy, as well as interactions between on-site generation and financial hedges. Our study shows that by swapping electricity (with high price volatility) for …
A Horizon Decomposition Approach For The Capacitated Lot-Sizing Problem With Setup Times, Ioannis Fragkos, Zeger Degraeve, Bert De Reyck
A Horizon Decomposition Approach For The Capacitated Lot-Sizing Problem With Setup Times, Ioannis Fragkos, Zeger Degraeve, Bert De Reyck
Research Collection Lee Kong Chian School Of Business
We introduce horizon decomposition in the context of Dantzig-Wolfe decomposition, and apply it to the capacitated lot-sizing problem with setup times. We partition the problem horizon in contiguous overlapping intervals and create subproblems identical to the original problem, but of smaller size. The user has the flexibility to regulate the size of the master problem and the subproblem via two scalar parameters. We investigate empirically which parameter configurations are efficient, and assess their robustness at different problem classes. Our branch-and-price algorithm outperforms state-of-the-art branch-and-cut solvers when tested to a new data set of challenging instances that we generated. Our methodology …
New Product Development Flexibility In A Competitive Environment, Janne Kettunen, Yael Gruksha-Cockayne, Zeger Degraeve, Bert De Reyck
New Product Development Flexibility In A Competitive Environment, Janne Kettunen, Yael Gruksha-Cockayne, Zeger Degraeve, Bert De Reyck
Research Collection Lee Kong Chian School Of Business
Managerial flexibility can have a significant impact on the value of new product development projects. We investigate how the market environment in which a firm operates influences the value and use of development flexibility. We characterize the market environment according to two dimensions, namely (i) its intensity, and (ii) its degree of innovation. We show that these two market characteristics can have a different effect on the value of flexibility. In particular, we show that more intense or innovative environments may increase or decrease the value of flexibility. For instance, we demonstrate that the option to defer a product launch …
Period Decompositions For The Capacitated Lot Size Problem With Setup Times, Silvio Alexandre De Araujo, Bert De Reyck, Zeger Degraeve, Ioannis Fragkos, Raf Jans
Period Decompositions For The Capacitated Lot Size Problem With Setup Times, Silvio Alexandre De Araujo, Bert De Reyck, Zeger Degraeve, Ioannis Fragkos, Raf Jans
Research Collection Lee Kong Chian School Of Business
We study the multi-item capacitated lot sizing problem with setup times. Based on two strong reformulations of the problem, we present a transformed reformulation and valid inequalities that speed up column generation and Lagrange relaxation. We demonstrate computationally how both ideas enhance the performance of our algorithm and show theoretically how they are related to dual space reduction techniques. We compare several solution methods and propose a new efficient hybrid scheme that combines column generation and Lagrange relaxation in a novel way. Computational experiments show that the proposed solution method for finding lower bounds is competitive with textbook approaches and …
Project Planning With Alternative Technologies In Uncertain Environments, Stefan Creemers, Bert De Reyck, Roel Leus
Project Planning With Alternative Technologies In Uncertain Environments, Stefan Creemers, Bert De Reyck, Roel Leus
Research Collection Lee Kong Chian School Of Business
We investigate project scheduling with stochastic activity durations to maximize the expected net present value. Individual activities also carry a risk of failure, which can cause the overall project to fail. In the project planning literature, such technological uncertainty is typically ignored and project plans are developed only for scenarios in which the project succeeds. To mitigate the risk that an activity’s failure jeopardizes the entire project, more than one alternative may exist for reaching the project’s objectives. We propose a model that incorporates both the risk of activity failure and the possible pursuit of alternative technologies. We find optimal …
Geography Of Firms And Propagation Of Local Economic Shocks, Gennaro Bernile, George Korniotis, Alok Kumar
Geography Of Firms And Propagation Of Local Economic Shocks, Gennaro Bernile, George Korniotis, Alok Kumar
Research Collection Lee Kong Chian School Of Business
This study shows that the geographical distribution of publicly-traded firms generates an economic network that links the economic environments of all U.S. states. Using a novel measure of economic linkages among publicly-traded firms, we build a state-level network of economic connections and show that local economic shocks propagate through this geographical network. Specifically, for each state, we identify U.S. states that are economically relevant for firms headquartered in that state and show that economic conditions in economically relevant states predict the economic environment in the headquarter state. These results do not merely reflect the impact of omitted common national shocks. …
Duopolistic Competition Under Risk Aversion And Uncertainty, Michail Chronopoulos, Bert De Reyck, Afzal Siddiqui
Duopolistic Competition Under Risk Aversion And Uncertainty, Michail Chronopoulos, Bert De Reyck, Afzal Siddiqui
Research Collection Lee Kong Chian School Of Business
A monopolist typically defers entry into an industry as both price uncertainty and the level of risk aversion increase. By contrast, the presence of a rival typically hastens entry under risk neutrality. Here, we examine these two opposing effects in a duopoly setting. We demonstrate that the value of a firm and its entry decision behave differently with risk aversion and uncertainty depending on the type of competition. Interestingly, if the leader’s role is defined endogenously, then higher uncertainty makes her relatively better off, whereas with the roles exogenously defined, the impact of uncertainty is ambiguous.
Tracking-Error Models For Multiple Benchmarks: Theory And Empirical Performance, Yunchao Xu, Zhichao Zheng, Karthik Natarajan, Chung-Piaw Teo
Tracking-Error Models For Multiple Benchmarks: Theory And Empirical Performance, Yunchao Xu, Zhichao Zheng, Karthik Natarajan, Chung-Piaw Teo
Research Collection Lee Kong Chian School Of Business
We propose a new multiple-benchmark tracking-error model for portfolio selection problem. The tracking error of a portfolio from a set of benchmark portfolios is defined as the difference between its return and the highest return from the set of benchmarks. We derive closedform solution of our portfolio strategy, whose main component is the sum of the benchmark portfolios weighted by their respective probabilities of attaining the highest return among the portfolios in the benchmark. These probabilities, also known as the persistency values, are less sensitive to estimation errors in the means and covariances. These features help to stabilize the computational …
What Is The Maximum Predictability Permitted By Asset Pricing Models?, Dashan Huang
What Is The Maximum Predictability Permitted By Asset Pricing Models?, Dashan Huang
Research Collection Lee Kong Chian School Of Business
This paper investigates whether return predictability can be explained by existing asset pricing models. Using different assumptions, I develop two theoretical upper bounds on the R-square of the regression of stock returns on predictive variables. Empirically, I find that the predictive R-square is significantly larger than the upper bounds, implying that extant asset pricing models are incapable of explaining the degree of return predictability. The reason for this inconsistency is the low correlation between the excess returns and the state variables used in the discount factor. The finding of this paper suggests the development of new asset pricing models with …
Sustainable Business Models: The Contribution Of Network Organization And Governance Modes, Sudhi Seshadri, Michael Ehret
Sustainable Business Models: The Contribution Of Network Organization And Governance Modes, Sudhi Seshadri, Michael Ehret
Research Collection Lee Kong Chian School Of Business
We provide a framework for the design of sustainable business models. While extant literature on business models focuses on unlocking positive externalities, we propose a business model framework that effectively addresses negative externalities. A taxonomy-based on transorganizational models and governance modes - classifies instruments that counsel behaviour patterns. Sustainability strategies that deal with externalities often merge instruments to manage multi-stakeholder responsibilities and exchanges. The framework draws upon three established research themes - network organizational models, governance modes, and instrumental stakeholder theory - to distinguish between six instrument classes. To illustrate its potential for analysis the paper compiles instruments within these …
Chameleonic Or Consistent? A Multilevel Investigation Of Emotional Labor Variability And Self-Monitoring, B. A. Scott, C. M. Barnes, David T. Wagner
Chameleonic Or Consistent? A Multilevel Investigation Of Emotional Labor Variability And Self-Monitoring, B. A. Scott, C. M. Barnes, David T. Wagner
Research Collection Lee Kong Chian School Of Business
We introduce the concept of emotional labor variability, which captures individual differences in surface acting and deep acting fluctuations over time. In a multilevel study of 78 customer service employees who provided 522 matched daily surveys over a two-week period, employees who were more variable in their use of surface acting reported lower levels of job satisfaction and higher levels of work withdrawal. Selfmonitoring was positively associated with both the level and variability of surface acting, and the effects of surface acting variability on job satisfaction and work withdrawal were weaker when self-monitoring was high. The results for deep acting …
Sustainability In Clothing Supply Chains: Implications For Marketing, Sudhindra Seshadri
Sustainability In Clothing Supply Chains: Implications For Marketing, Sudhindra Seshadri
Research Collection Lee Kong Chian School Of Business
Recommendations for sustainability strategies for business have predominantly taken an individual firm level perspective. Yet, sustainability efforts are by essence collaborative and span firm level boundaries. Multiple stakeholders espousing often divergent goals need to work together over long periods on sustainability collaborations. Well recognized externalities in the firm’s economic existence need to be addressed by multiple stakeholder skill sets and are fraught with high risks and uncertainties. These are conditions ripe for syndication, as financial and corporate syndicates have demonstrated.The rules of syndication cover the structure of membership, setting of goals and objectives, governance, incentives and sharing of rewards and …
Becoming Aware Of The Unknown: Decision Making During The Implementation Of A Strategic Initiative, Ronald Klingebiel, Arnoud De Meyer
Becoming Aware Of The Unknown: Decision Making During The Implementation Of A Strategic Initiative, Ronald Klingebiel, Arnoud De Meyer
Research Collection Lee Kong Chian School Of Business
This qualitative study analyzes the decision-making process involved in adapting preconceived courses of action during the implementation of a strategic initiative. We observe that the type of decision-making process hinges on the nature of managers’ emerging awareness of future events. When managers become aware of new uncertainty, the process involves selectiveness, deliberateness, and diligence. By contrast, when managers become aware of new certainty, the process conforms to the problem-solving adhocracy and decision-making messiness emphasized in prior literature. We summarize our findings in a framework, proposing that decision-level differences in awareness and uncertainty can explain the observed variation in strategic decision-making …
The Role Of Gender In Negotiation, Elizabeth Layne Paddock, L. J. Kray
The Role Of Gender In Negotiation, Elizabeth Layne Paddock, L. J. Kray
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Exploiting Metaheuristics To Strategize On Performance-Based Logistics Contracts For Mro Services, Arnd Schirrmann, Elaine Wong, Zhichao Zheng
Exploiting Metaheuristics To Strategize On Performance-Based Logistics Contracts For Mro Services, Arnd Schirrmann, Elaine Wong, Zhichao Zheng
Research Collection Lee Kong Chian School Of Business
An inherent challenge of using Performance-Based Logistics (PBL) contracts for aircraftmaintenance, repair and overhaul (MRO) services is pricing. As with traditional bricks andmortar services, under-priced contracts cannot cover costs, while overpriced contracts loseout to competition. Furthermore MRO services have an additional element of uncertainty.Performance uncertainties arise due to the inability to accurately forecast demand of spareparts, while cost uncertainties are a result of globally distributed operations subjected tofluctuating economic conditions. Previous work to solve this contracting problem adoptedthe principal-agent model, obtaining an optimal solution from the perspective of both riskaverseparties (i.e., a price-sensitive customer and a profit-driven service provider). Thiswork …
More Important Than Results, Bert De Reyck, Zeger Degraeve
More Important Than Results, Bert De Reyck, Zeger Degraeve
Research Collection Lee Kong Chian School Of Business
Managing only for results leads to crises, say Bert De Reyck and Zeger Degraeve. Reward people for the decisions they make, not just for the results they create.
Creating Competitive Advantages In The Global Marketplace: The Singapore Experiment In India, Caroline Yeoh, Victor Sim, Norhanna Yumi
Creating Competitive Advantages In The Global Marketplace: The Singapore Experiment In India, Caroline Yeoh, Victor Sim, Norhanna Yumi
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Effective Project Planning: Making The Most Of Project Planning Tools, Bert De Reyck
Effective Project Planning: Making The Most Of Project Planning Tools, Bert De Reyck
Research Collection Lee Kong Chian School Of Business
Although project planning tools such as Microsoft Project and Primavera have become indispensable tools for supporting the project planning process in a wide variety of industries and organizations, many companies do not use these tools in the best possible way, resulting in disappointment and frustration as well as a lack of effective project management support. In this article, we propose several guidelines on what to do,