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Articles 1 - 15 of 15
Full-Text Articles in Business
The Revolution In Retailing: From Market Driven To Market Driving, Nirmalya Kumar
The Revolution In Retailing: From Market Driven To Market Driving, Nirmalya Kumar
Research Collection Lee Kong Chian School Of Business
The first image aroused by 'retailing' for many of us, especially those of us who are somewhat older, is that of the corner grocery store. Not so long agb retailing was, and it still is in some parts of the world, a fragmented, local, unsophisticated, traditional business run by vulnerable owner-operators. Yet, here we are talking about a revolution in retailing. Why? What has changed? Fundamentally retailers have grown up over the past 25 years into large, global, technology-intensive, powerful, fast-growth corporations managing their own brands. Several retailers have become the darlings of their stock markets. Hennes and Mauritz, the …
A Framework For Reaching Agreement On Climate Change: Morals, Self-Interest, And Strategy, F. Ted Tschang, N. S. Murthy, K. S. Kavi Kumar
A Framework For Reaching Agreement On Climate Change: Morals, Self-Interest, And Strategy, F. Ted Tschang, N. S. Murthy, K. S. Kavi Kumar
Research Collection Lee Kong Chian School Of Business
This paper examines why negotiations following the Framework Convention on Climate Change (FCCC) have stalled and makes suggestions on how to circumvent the obstacles. In particular, the paper: - illustrates how current barriers to international agreement on climate change (CC) decompose into the separate components-self-interest, morality and strategy and discuss how the recent country positions are mixing them. - discusses some elements of a conceptual framework that will serve as a benchmark for assessing the feasibility of a proposal for a CC agreement. - discusses a few modest proposals that could potentially end the current stalemate, and also the potential …
The Process Of Internationalization In The Operating Firm, Timothy Adrian Robert Clark, Derek S. Pugh, Geoff Mallory
The Process Of Internationalization In The Operating Firm, Timothy Adrian Robert Clark, Derek S. Pugh, Geoff Mallory
Research Collection Lee Kong Chian School Of Business
Two factors have been emphasised as influencing the choice of, and subsequent shifts between, modes of foreign market servicing: (1) market-specific knowledge; and (2) the generalised knowledge from operating internationally. The process-oriented literature on internalisation has tended to emphasise the former over the latter. This article maintains that market-specific knowledge is not the only source of information available to a firm. As firms operate in foreign markets they develop, in addition to networks of institutional arrangements, a knowledge of the process of internationalization. Account therefore has to be taken of the general knowledge from operating internationally in understanding the development …
The Revolution In Retailing: Introduction To The Special Issue, Nirmalya Kumar
The Revolution In Retailing: Introduction To The Special Issue, Nirmalya Kumar
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Breaking Trends And The Money-Output Correlation, David Fernandez
Breaking Trends And The Money-Output Correlation, David Fernandez
Research Collection Lee Kong Chian School Of Business
This paper examines the impact on the money-output correlation of a univariate specification that allows time series to be characterized as stationary around a broken trend function. Though pretesting suggests that U.S. real output (industrial production) can be described as broken-trend stationary, this result has only limited impact on the money-output correlation. Before 1985 there is a strong Granger causal relationship between money and broken-detrended output (hut not first-differenced output), even when different short-term interest rates are used as regressors. However, after 1985 this relationship weakens significantly, whether or not one determines that output has a unit root.
Entrepreneurship On The Threshold Of 21st Century, Wee Liang Tan
Entrepreneurship On The Threshold Of 21st Century, Wee Liang Tan
Research Collection Lee Kong Chian School Of Business
With this issue we would have joined the world in watching Hong Kong, reknown as an entrepreneurial economy, move across the threshold to mainland Chinese control. In Hong Kong, entrepreneurship moves across a threshold to another environment the conditions of which may be different. There are opposing views whether the situation will be restrictive to entrepreneurship. Entrepreneurs operating in Hong Kong would have made alternative plans and strategies. Only time will tell how the events will unfold, suffice to be prepared for the transition is far better than not to have been.
A Variance Decomposition Analysis Of The Information In The Term Structure, Louis H. Ederington, Jeremy C. Goh
A Variance Decomposition Analysis Of The Information In The Term Structure, Louis H. Ederington, Jeremy C. Goh
Research Collection Lee Kong Chian School Of Business
Based on a market efficiency assumption, we use variance decomposition analysis is to separate information in the term structure on expected future spot rates from information on time-varying term premia and to examine the market's ability to forecast both future rate changes and excess returns on long versus short securities. We find that fluctuations in the slope of the yield curve are due more to changing term premia than to fluctuations in expected future spot rates and that the market correctly predicts about 40 percent of the month-to-month changes in spot rates, a considerably higher percentage than that found by …
Making Sense Of The Asian Success Story: An Integrative Framework, Chow Hou Wee, Gilbert Tan
Making Sense Of The Asian Success Story: An Integrative Framework, Chow Hou Wee, Gilbert Tan
Research Collection Lee Kong Chian School Of Business
The article focuses on Asian countries that have experienced economic growth over the past 50 years including Hong Kong, China; Japan; Singapore; South Korea and Taiwan. With the exception of Hong Kong, the economic success of the Asian countries has been attributed to the interventionist framework. Export-orientation is one strategy that is most associated with the success of the five Asian countries. The export-oriented strategy helped the five Asian countries in many ways. The ensuring growth of employment enabled the country to save and accumulate capital for reinvestment. The export-oriented strategy also positively affects the competitive advantages of the country. …
Rules For References: Suggested Guidelines For Choosing Literature Citations For Research Articles In Applied Psychology, Michael A. Campion, Carl P. Maertz, David K. Palmer, Hwee Hoon Tan
Rules For References: Suggested Guidelines For Choosing Literature Citations For Research Articles In Applied Psychology, Michael A. Campion, Carl P. Maertz, David K. Palmer, Hwee Hoon Tan
Research Collection Lee Kong Chian School Of Business
A survey was conducted of reviewers' opinions of the proper rules for when and how references should be used to support points made in research articles in applied psychology and related fields. The reviewers opinions were distilled into a set of rules or guidelines for proper referencing in research articles. These rules are presented.
The Opening Price Behavior: Foreign Exchange Futures Market Versus Equity Market, Quentin C. Chu, David K. Ding, C. S. Pyun
The Opening Price Behavior: Foreign Exchange Futures Market Versus Equity Market, Quentin C. Chu, David K. Ding, C. S. Pyun
Research Collection Lee Kong Chian School Of Business
Daily opening, noon, and closing prices of Deutschemark and Japanese yen futures are examined for the efficiency of the foreign exchange futures (FXF) market. Variance ratio and multiple variance ratio tests, are employed. The prices are found to be serially uncorrelated. This random walk behavior sheds light on the differences between the FXF and commodity or equity markets. The conclusions suggest that the FXF market is a 24-hour global market, reflecting a disparity with equity markets where round-the-clock trading is advocated since the high volatility during market opening would be eliminated, leading to potential cost reductions for traders as spreads …
The Impact Of Strategic Choice On The International-Ization Of The Firm, Timothy Clark, Geoff Mallory
The Impact Of Strategic Choice On The International-Ization Of The Firm, Timothy Clark, Geoff Mallory
Research Collection Lee Kong Chian School Of Business
Companies either seeking to expand into foreign markets or to alter their existing institutional arrangements have a choice between three forms of foreign market servicing: exporting, foreign licensing and foreign direct investment (FDI)1 (Buckley 1991; Buckley and Casson 1976; Root 1987; Terpstra 1987). The ‘stages theory of internationalisation’ proposes that these options are chosen in a linear sequence in that firms initially export, then establish a sales subsidiary and only when they have built up knowledge and experience do they invest directly.
The Information Content Of Fdi Announcements: Evidence From An Emerging Market, David K. Ding, Qian Sun
The Information Content Of Fdi Announcements: Evidence From An Emerging Market, David K. Ding, Qian Sun
Research Collection Lee Kong Chian School Of Business
This study examines the stock return responses to the announcements of foreign direct investments (FDI) by Singaporean companies. A standard event study methodology is used to ascertain the abnormal returns around the announcement day (day 0). The study covers the period from 1989 to 1994 with a sample size of 70 events. The announcement effect is positive and significant around the announcement day. The average abnormal return is 0.4913 percent on day 0, and the two-day (days 0 and 1) cumulative abnormal return is 0.9642 percent. However, the abnormal return is unequally distributed across the sample firms. A cross-sectional analysis …
Salesforce Evaluation By Local And Foreign Wholesale Companies In Singapore, Rajah Vellan Komaran, Lee Ching Tok
Salesforce Evaluation By Local And Foreign Wholesale Companies In Singapore, Rajah Vellan Komaran, Lee Ching Tok
Research Collection Lee Kong Chian School Of Business
No abstract provided.
A Visual Approach For Identifying Consumer Satisfaction Segments, Estelami Hooman, Peter De Maeyer
A Visual Approach For Identifying Consumer Satisfaction Segments, Estelami Hooman, Peter De Maeyer
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Joint Variance Ratio Tests Of The Martingale Hypothesis For Exchange Rates, Wai Mun Fong, Benedict Seng Kee Koh, Sam Ouliaris
Joint Variance Ratio Tests Of The Martingale Hypothesis For Exchange Rates, Wai Mun Fong, Benedict Seng Kee Koh, Sam Ouliaris
Research Collection Lee Kong Chian School Of Business
There is considerable interest in whether exchange rates behave like martingales. Liu and He tested the martingale hypothesis for exchange rates using the variance-ratio methodology of Lo and MacKinlay. They found that exchange rates have violated the martingale property since the inception of floating rates in 1973. Liu and He did not consider the joint implications of their tests, however. In this article, we reassess the martingale hypothesis for exchange rates using the joint tests developed by Hochberg and by Richardson and Smith. Contrary to the findings of Liu and He, the joint tests indicate that the martingale model worked …