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Articles 1231 - 1260 of 3153
Full-Text Articles in Business
Clogged Intermediation: Were Home Buyers Crowded Out?, Hyunsoo Choi, Hyun-Soo Choi, Jung-Eun Kim
Clogged Intermediation: Were Home Buyers Crowded Out?, Hyunsoo Choi, Hyun-Soo Choi, Jung-Eun Kim
Research Collection Lee Kong Chian School Of Business
Post-crisis policy interventions significantly increased the demand for mortgage refinancing, but could this surge in refinancing applications have crowded out the supply of credit to home buyers? In this paper, we examine two frictions that hamper financial intermediation and result in banks' substitution of home purchase loans for refinance loans: The risk capacity channel through which banks with limited risk appetites prefer safer loans over riskier loans, and the operating capacity channel through which banks with limited operating capacities prefer applications that require less screening time. We find that following the recent financial crisis, banks facing these capacity constraints indeed …
Sell Side Benchmarks, Ohad Kadan, Leonardo Madureira, Rong Wang, Tzachi Zach
Sell Side Benchmarks, Ohad Kadan, Leonardo Madureira, Rong Wang, Tzachi Zach
Research Collection Lee Kong Chian School Of Business
Sell-side analysts employ different benchmarks when defining their stock recommendations. For example, a ‘buy’ for some brokers means the stock is expected to outperform its peers in the same sector (“sector benchmarkers”), while for other brokers it means the stock is expected to outperform the market (“market benchmarkers”), or just some absolute return (“total benchmarkers”). We explore the validity and implications of the adoption of these different benchmarks. Analysis of the relation between analysts’ recommendations and their long-term growth and earnings forecasts suggests that analysts indeed abide by their benchmarks: Sector benchmarkers rely less on across-industry information, and focus more …
Corporate Crisis Advertising: A Framework Examining The Use And Effects Of Corporate Advertising Before And After Crises, Benjamin Ho, Wonsun Shin, Augustine Pang
Corporate Crisis Advertising: A Framework Examining The Use And Effects Of Corporate Advertising Before And After Crises, Benjamin Ho, Wonsun Shin, Augustine Pang
Research Collection Lee Kong Chian School Of Business
While corporate advertising has been widely studied as a promotional tool, few studies have examined how it can be used in a corporate crisis situation. In 2013, Kim proposed a conceptual framework for examining stakeholders’ evaluation of pre-crisis corporate advertising, using the inoculation and reactance theory. The framework, published in Journal of Marketing Communications, suggested that pre-crisis advertising can increase audience resistance towards negative news of an organization and decrease audience resistance towards future corporate advertisements from the organization. The present study expands on Kim’s work to develop the corporate crisis advertising (CCA) framework. In addition to the inoculation and …
Permanent Price Impact Asymmetry Of Trades With Institutional Constraints, Chiraphol N. Chiyachantana, Pankaj Jain, Christine Jiang, Vivek Sharma
Permanent Price Impact Asymmetry Of Trades With Institutional Constraints, Chiraphol N. Chiyachantana, Pankaj Jain, Christine Jiang, Vivek Sharma
Research Collection Lee Kong Chian School Of Business
Dynamic institutional trading constraints related to capital, diversification, and short-selling asymmetrically affect the incorporation of new information as reflected in the permanent price impact of their trades. The sign of the permanent price impact asymmetry between institutional buys versus sells is positive at the initial stage of a price run-up and reverses due to changing constraints with a prolonged price run-up in a stock. Idiosyncratic volatility, analyst forecast dispersion, trading intensity, price dispersion, and bullish market conditions further sharpen the initial asymmetry, as well as its reversal after a price run-up.
Does Ethical Orientation Matter? Determinants Of Public Reaction To Csr Communication, Kyujin Shim, Myojung Chung, Young Kim
Does Ethical Orientation Matter? Determinants Of Public Reaction To Csr Communication, Kyujin Shim, Myojung Chung, Young Kim
Research Collection Lee Kong Chian School Of Business
Employing an experiment study (N = 256), this study examines how individuals ethical orientation (deontology vs. consequentialism) and CSR message frame (normative vs. strategic) influence corporate hypocrisy perception and negative communication intentions toward a given company. Findings demonstrate that deontological ethical orientation and strategic CSR frame induce stronger corporate hypocrisy perception and negative communication intention than do consequential ethical orientation and normative CSR frame. In addition, deontological ethical orientation moderated the effects of CSR frames on negative communication intention toward the company. Implications for both public relations scholarship and practices are discussed.
The Flow Of Funds In Asean, Philip C. Zerrillo
The Flow Of Funds In Asean, Philip C. Zerrillo
Research Collection Lee Kong Chian School Of Business
In his novel, Memoirs of a Geisha, Arthur Golden wrote, “Water can carve its way even through stone. And when trapped, water makes a new path.” Something similar seems to be happening with the flow of funds in ASEAN.
Combinatorial Multi-Armed Bandit Problem With Probabilistically Triggered Arms: A Case With Bounded Regret, Omer Saritac, Cem Tekin
Combinatorial Multi-Armed Bandit Problem With Probabilistically Triggered Arms: A Case With Bounded Regret, Omer Saritac, Cem Tekin
Research Collection Lee Kong Chian School Of Business
In this paper, we study the combinatorial multi-armed bandit problem (CMAB) with probabilistically triggered arms (PTAs). Under the assumption that the arm triggering probabilities (ATPs) are positive for all arms, we prove that a simple greedy policy, named greedy CMAB (G-CMAB), achieves bounded regret. This improves the result in previous work, which shows that the regret is O (log T) under no such assumption on the ATPs. Then, we numerically show that G-CMAB achieves bounded regret in a real-world movie recommendation problem, where the action corresponds to recommending a set of movies, arms correspond to the edges between movies and …
Dissecting Arbitrage Costs, F. Y. Eric Lam, Chishen Wei, K. C John Wei
Dissecting Arbitrage Costs, F. Y. Eric Lam, Chishen Wei, K. C John Wei
Research Collection Lee Kong Chian School Of Business
This paper systematically examines the impact of nine popular arbitrage costs measures on cross-sectional mispricing based on ten well-known and robust anomalies. We show that binding arbitrage barriers slowly change over time. In early years with few publications documenting return anomalies, arbitrage costs have tiny impact even though mispricing is present. As anomalies become more widely known, arbitrage costs impact mispricing substantially. Arbitrage risk, ambiguity of fundamental value, round-trip broker’s commission plus bid-ask spreads, and stock loan supply are binding on arbitrageurs. Only arbitrage risk is binding if larger cap stocks are emphasized. In recent years when market quality improves …
Workplace Trust As A Mechanism Of Employee (Dis)Advantage: The Case Of Employee Socioeconomic Status, Marko Pitesa, Stefan Thau, Madan M. Pillutla
Workplace Trust As A Mechanism Of Employee (Dis)Advantage: The Case Of Employee Socioeconomic Status, Marko Pitesa, Stefan Thau, Madan M. Pillutla
Research Collection Lee Kong Chian School Of Business
Early work on trust in social science highlighted how the lack of trust between individuals can cause social division, contribute to social stratification, and reduce economic opportunities for people from all social groups. We integrate this work with organizational research on antecedents of trust to generate predictions explaining when and why low employee socioeconomic status (SES) can be a barrier to trust. We discuss how this process can impair the success of both organizations as well as their lower-SES employees. We present a model, and data, suggesting that lower-SES employees will be both more distrusted as well as more distrustful …
Creating A Great Workplace For All Singapore: First Steps For Business Leaders, Richard R. Smith, Benjamin Ho
Creating A Great Workplace For All Singapore: First Steps For Business Leaders, Richard R. Smith, Benjamin Ho
Research Collection Lee Kong Chian School Of Business
In a highly competitive business world, the pressure for bottom-line results can be intense – sometimes at the expense of a positive workplace environment. Yet, it seems there are organizations that not only do well, but also have people who trust their leaders, possess deep pride in their work and organizations, and take genuine pleasure in working with their colleagues.
A Triadic Framework For Collaborative Consumption (Cc): Motives, Activities And Resources & Capabilities Of Actors, Sabine Benoit, Thomas L. Baker, Ruth N. Bolton, Thorsten Gruber, Jay Kandampully
A Triadic Framework For Collaborative Consumption (Cc): Motives, Activities And Resources & Capabilities Of Actors, Sabine Benoit, Thomas L. Baker, Ruth N. Bolton, Thorsten Gruber, Jay Kandampully
Research Collection Lee Kong Chian School Of Business
Collaborative consumption (CC) is an increasingly prevalent form of exchange. CC occurs within a triangle of actors: a platform provider (e.g., Uber), a peer service provider (e.g., an Uber driver) and a customer. The platform provider's main role is matchmaking, so that a customer can access assets of a peer service provider. This paper has three objectives. First, this article identifies three criteria to delineate CC from related constructs such as access-based consumption, sharing or renting. Second, it introduces a literature-based framework explicating the roles of the actors in the CC triangle along three dimensions: motives, activities and resources and …
Linking Service Convenience To Satisfaction: Dimensions And Key Moderators, Sabine Benoit, Sonja Klose, Andreas Ettinger
Linking Service Convenience To Satisfaction: Dimensions And Key Moderators, Sabine Benoit, Sonja Klose, Andreas Ettinger
Research Collection Lee Kong Chian School Of Business
Purpose: Demand for service convenience, defined as a consumer's perception of minimized time and effort spent to obtain a service, has increased in conjunction with certain sociocultural and demographic changes. Previous research notes the significance of service convenience, but the importance of different dimensions of service convenience and the role of key moderators affecting the link between convenience and satisfaction (like customer psychographic and sociodemographic characteristics) remain unaddressed. Thus, the purpose of this research is to identify those customer groups for which offering convenience will have the highest leverage to increase satisfaction. Design/methodology/approach: Two models are developed and tested: a …
Showcasing The Diversity Of Service Research: Theories, Methods, And Success Of Service Articles, Sabine Benoit, Katrin Scherschel, Zelal Ates, Linda Nasr, Jay Kandampully
Showcasing The Diversity Of Service Research: Theories, Methods, And Success Of Service Articles, Sabine Benoit, Katrin Scherschel, Zelal Ates, Linda Nasr, Jay Kandampully
Research Collection Lee Kong Chian School Of Business
Purpose: The purpose of this paper is to make two main contributions: first, showcase the diversity of service research in terms of the variety of used theories and methods, and second, explain (post-publication) success of articles operationalized as interest in an article (downloads), usage (citations), and awards (best paper nomination). From there, three sub-contributions are derived: stimulate a dialogue about existing norms and practices in the service field, enable and encourage openness amongst service scholars, and motivate scholars to join the field. Design/methodology/approach: A mixed method approach is used in combining quantitative and qualitative research methods while analyzing 158 Journal …
Do Security Analysts Learn From Their Colleagues?, Kenny Phua, T. Mandy Tham, Chi Shen Wei
Do Security Analysts Learn From Their Colleagues?, Kenny Phua, T. Mandy Tham, Chi Shen Wei
Research Collection Lee Kong Chian School Of Business
We examine how learning from colleagues affects security analyst forecast outcomes. We represent the brokerage house as an information network of analysts connected through industry overlaps in their coverage portfolios. Analysts who are more centrally connected in their brokerage network produce more accurate forecast estimates and generate more influential forecast revisions. Consistent with learning, more central analysts tend to unwind their colleagues’ recent forecast errors in their forecast revisions. Learning appears to benefit all colleagues, as working at more interconnected brokerages (i.e., denser networks) improves forecast accuracy for all analysts.
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 …
Transshipment Hub Selection From A Shipper’S And Freight Forwarder’S Perspective, Gang Chen, Waiman Cheung, Sung-Chi Chu, Liang Xu
Transshipment Hub Selection From A Shipper’S And Freight Forwarder’S Perspective, Gang Chen, Waiman Cheung, Sung-Chi Chu, Liang Xu
Research Collection Lee Kong Chian School Of Business
Transshipment hub selection becomes increasingly important to the global logistics community. From the perspectives of shippers and freight forwarders, a selection must align with cost control strategy and sustain service reliability across cooperative service providers. This paper assesses the selection with the options of both sea and air transports, and from the influence of country of origin of the company. Critical factors of transshipment hub selection, both qualitative and quantitative, are identified through focus group discussions. Relative importance of these factors is determined based on collective views of logistics stakeholders. The competitiveness of transshipment hubs is then assessed using an …
When Feeling Good Feels "Wrong": Avoiding Hedonic Consumption When It Reflects Immoral Character, Stephanie C. Lin, Taly Reich, Tamar A. Kreps
When Feeling Good Feels "Wrong": Avoiding Hedonic Consumption When It Reflects Immoral Character, Stephanie C. Lin, Taly Reich, Tamar A. Kreps
Research Collection Lee Kong Chian School Of Business
In contrast to traditional mood repair motivations, we find that people desire to experience negative emotions in response to moral violations. Therefore, people avoid hedonic consumption after negatively valenced moral content, and feel uncomfortable when negatively valenced moral content is followed by hedonic frivolous content in social media contexts
Performance Of Cellular Bucket Brigades With Hand-Off Times, Yun Fong Lim
Performance Of Cellular Bucket Brigades With Hand-Off Times, Yun Fong Lim
Research Collection Lee Kong Chian School Of Business
A cellular bucket brigade is a way to coordinate workers along an aisle with work content on both sides. Each worker in a cellular bucket brigade works on one side of the aisle when he proceeds in one direction, and he works on the other side when he proceeds in the reverse direction. Although the cellular bucket brigade eliminates the unproductive walk-back, it requires more hand-offs to assemble a product than a traditional (serial) bucket brigade. These hand-offs may waste significant production capacity as each of them requires an exchange of work, which can be complicated and time-consuming in practice. …
The Essence Of Luxury: An Asian Perspective: Lvmh-Smu Luxury Research Conference 2016, Srinivas K. Reddy, Jin K. Han
The Essence Of Luxury: An Asian Perspective: Lvmh-Smu Luxury Research Conference 2016, Srinivas K. Reddy, Jin K. Han
Research Collection Lee Kong Chian School Of Business
A number of developments in the luxury market have been attributed to the arrival of luxury products in Asian markets. The modernisation of Japan some decades back paved the way for a growing trend towards imbibing western lifestyles in Asia. Japan’s economic success after the Second World War was a key factor responsible for the introduction of luxury marketing in Asia. In the 1970’s, Japanese tourist-shoppers became a noticeable phenomenon in Europe. The European luxury houses were quick to recognise the opportunity and began setting up branches and luxury outlets in Japan. The Japanese were not only the driving force …
Male Immorality: An Evolutionary Account Of Sex Differences In Unethical Negotiation Behavior, Margaret Lee, Marko Pitesa, Madan Pillutla, Stefan Thau
Male Immorality: An Evolutionary Account Of Sex Differences In Unethical Negotiation Behavior, Margaret Lee, Marko Pitesa, Madan Pillutla, Stefan Thau
Research Collection Lee Kong Chian School Of Business
Past research finds that men negotiate more unethically than women, others report comparable rates of unethical negotiation behaviors. Based on evolutionary psychology, we predict conditions under which sex differences in unethical negotiation behavior are more versus less pronounced. We theorize that greater levels of unethical behavior among men occur as a consequence of greater male intrasexual competition for mates. This suggests that more male unethical negotiation behavior should primarily emerge in situations associated with intrasexual competition. Using a two-wave survey design, Study 1 found a positive relationship between mating motivation and unethical negotiation behavior for male, but not female employees. …
Cyber-Empathic Design: A Data-Driven Framework For Product Design, Dipanjan Ghosh, Andrew Olewnik, Kemper Lewis, Junghan Kim, Arun Lakshaman
Cyber-Empathic Design: A Data-Driven Framework For Product Design, Dipanjan Ghosh, Andrew Olewnik, Kemper Lewis, Junghan Kim, Arun Lakshaman
Research Collection Lee Kong Chian School Of Business
A critical task in product design is mapping information from consumer to design space. Currently, this process largely depends on designers identifying and mapping psychological and consumer level factors to engineered attributes. In this way, current methodologies lack provision to test a designer's cognitive reasoning and could introduce bias when mapping from consumer to design space. In addition, current dominant frameworks do not include user-product interaction data in design decision making, nor do they assist designers in understanding why a consumer has a particular perception about a product. This paper proposes a framework-cyber-empathic (CE) design-where user-product interaction data are acquired …
Social Value Creation And Relational Coordination In Public-Private Collaborations, Nigel D. Cadwell, Jens K. Roehrich, Gerard George
Social Value Creation And Relational Coordination In Public-Private Collaborations, Nigel D. Cadwell, Jens K. Roehrich, Gerard George
Research Collection Lee Kong Chian School Of Business
Public-private collaborations, or hybrid organizational forms, are often difficult to organize because of disparate goals, incentives, and management practices. Some of this misalignment is addressed structurally or contractually, but not the management processes and practices. In this study, we examine how the coordination of these social and work relationships, or relational coordination, affects task performance and the creation of social value. We employ a dyad perspective on two long-term relationships that are part of a wider ecosystem. We illustrate the social value creation process, identifying mutual knowledge and goal alignment, as necessary to create relational coordination. We find that the …
Optimizing (S, S) Policies For Multi-Period Inventory Models With Demand Distribution Uncertainty: Robust Dynamic Programming Approaches, Ruozhen Qiu, Minghe Sun, Yun Fong Lim
Optimizing (S, S) Policies For Multi-Period Inventory Models With Demand Distribution Uncertainty: Robust Dynamic Programming Approaches, Ruozhen Qiu, Minghe Sun, Yun Fong Lim
Research Collection Lee Kong Chian School Of Business
We consider a finite-horizon single-product periodic-review inventory managementproblem with demand distribution uncertainty. We formulate the problemas a dynamic program and prove the existence of an optimal (s, S) policy. Thecorresponding dynamic robust counterpart models are then developed for thebox and the ellipsoid uncertainty sets. These counterpart models are transformedinto tractable linear and second-order cone programs, respectively. Weillustrate the effectiveness and practicality of the proposed robust optimizationapproaches through a numerical study.
Assessing Personality-Situation Interplay In Personnel Selection: Toward More Integration Into Personality Research, Filip Lievens
Assessing Personality-Situation Interplay In Personnel Selection: Toward More Integration Into Personality Research, Filip Lievens
Research Collection Lee Kong Chian School Of Business
Over the years, the personnel selection field has developed methods to assess trait expression in particular situations, but these approaches have evolved mostly outside the field of personality psychology. In this article, I review available personnel selection evidence regarding two such approaches: (i) situational judgement tests that present short scenarios and ask job candidates how they would handle the situations and (ii) assessment centre exercises requiring candidates to display behaviour in specified interactive situations. I describe these approaches and discuss their relations with personality research. I posit that adapting these approaches to personality research creates methodological diversity to address key …
Integrating Situational Judgment Tests And Assessment Centre Exercises Into Personality Research: Challenges And Further Opportunities, Filip Lievens
Integrating Situational Judgment Tests And Assessment Centre Exercises Into Personality Research: Challenges And Further Opportunities, Filip Lievens
Research Collection Lee Kong Chian School Of Business
In this rejoinder, I discuss several broad themes that emerged from the 32 commentaries in response to my target article about the value of integrating Situational Judgment Tests and Assessment Centre exercises for advancing research on the personality-situation interplay. Specifically, I summarize the various challenges put forward (e.g. deficient/contaminated trait measurement, assessment of situation construal, inclusion of personality-driven situation experience) and offer potential conceptual (e.g. use of situational taxonomies and contextualized personality perception) and methodological solutions (e.g. use of open-ended and nonlinear SJTs and multiple speed assessment). Taken together, this fits into a more comprehensive multi-method approach to personality assessment.
The Impact Of Csr On Corporate Financial Performance, David K. Ding
The Impact Of Csr On Corporate Financial Performance, David K. Ding
Research Collection Lee Kong Chian School Of Business
We provide one of the first analyses of corporate social responsibility (CSR) and firm performance using only annual financial reports. We document a link between corporate financial performance (CFP) and CSR, although this is not always positive. Specifically, we investigate whether CSR performance can be implied from financial reporting and provide evidence that CSR information implied by financial reports have a significant association with CFP. Furthermore, we provide the first comprehensive study of CSR reporting and link it with CFP in New Zealand.
Comparative Price And The Design Of Effective Product Communications, Thomas Allard, Dale Griffin
Comparative Price And The Design Of Effective Product Communications, Thomas Allard, Dale Griffin
Research Collection Lee Kong Chian School Of Business
The authors propose amodel relating a product's comparative price to the construal level of its associated communications and show how perceived expensiveness shapes consumers' response to the wording of marketing communications. A series of six studies shows that for both absolute low-and high-cost product categories, comparatively expensive (inexpensive) products are preferred when accompanied by high-construal (low-construal) messages, due to the conceptual fluency of the "match" between price-induced psychological distance and construal level. The model provides novel implications for designing effective marketing communications: comparatively expensive versions of objectively low-priced products (e.g., an expensive chocolate truffle) are best promoted through more abstract …
The Four Horsemen Of Negotiator Power, Michael Schaerer, Adam D. Galinsky, Joe Magee
The Four Horsemen Of Negotiator Power, Michael Schaerer, Adam D. Galinsky, Joe Magee
Research Collection Lee Kong Chian School Of Business
Scholarly research generally finds that democratic governments are more likely to respect human rights than other types of regimes. Different human rights practices among long-standing and affluent democracies therefore present a puzzle. Drawing from democratic theory and comparative institutional studies, we argue more inclusive or "popular" democracies should enforce human rights better than more exclusive or "elite" democracies, even in the face of security threats from armed conflict. Instead of relying on the Freedom House or Polity indexes to distinguish levels of democracy, we adopt a more focused approach to measuring structures of inclusion, the Institutional Democracy Index (IDI), which …
Firm-Specific Knowledge Assets And Employment Arrangements: Evidence From Ceo Compensation Design And Ceo Dismissal, Heli Wang, Shan Zhao, Guoli Chen
Firm-Specific Knowledge Assets And Employment Arrangements: Evidence From Ceo Compensation Design And Ceo Dismissal, Heli Wang, Shan Zhao, Guoli Chen
Research Collection Lee Kong Chian School Of Business
Research Summary: We argue that firms with greater specificity in knowledge structure need to both encourage their CEOs to stay so that they make investments with a long-term perspective, and provide job securities to the CEOs so that they are less concerned about the risk of being dismissed. Accordingly, we found empirical evidence that specificity in firm knowledge assets is positively associated with the use of restricted stocks in CEO compensation design (indicating the effort of CEO retention) and negatively associated with CEO dismissal (indicating the job securities the firm committed to CEOs). Furthermore, firm diversification was found to mitigate …
Analyst Effort Allocation And Firms' Information Environment, Rong Wang, Jarrad Harford, Feng Jiang, Fei Xie
Analyst Effort Allocation And Firms' Information Environment, Rong Wang, Jarrad Harford, Feng Jiang, Fei Xie
Research Collection Lee Kong Chian School Of Business
We show that a firm’s information environment is significantly impacted by the characteristics of the other firms its analysts cover. Analysts strategically allocate effort among portfolio firms by devoting more effort to firms that are relatively more important for their career concerns. Specifically, controlling for analyst and firm characteristics, we find that within each analyst’s portfolio, firms ranked relatively higher based on market capitalization, trading volume, or institutional ownership receive more accurate, frequent, and informative earnings forecast revisions and stock recommendation changes that contain greater information content from that analyst. Firms’ relative rank across analysts varies widely, so this is …