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Articles 1321 - 1350 of 3153
Full-Text Articles in Business
Health Systems In Transition: Professional Identity Work In The Context Of Shifting Institutional Logics, Yiannis Kyratsis, Rifat Atun, Nelson Phillips, Paul Tracey, Gerard George
Health Systems In Transition: Professional Identity Work In The Context Of Shifting Institutional Logics, Yiannis Kyratsis, Rifat Atun, Nelson Phillips, Paul Tracey, Gerard George
Research Collection Lee Kong Chian School Of Business
We investigate how established professionals manage their identities in the face of identity threats from a contested shift in the professional logic that characterizes their field. To do so, we draw on interviews with 113 physicians from five European transition countries who faced pressure for change in their professional identities due to a shift in the logic of healthcare from a logic of "narrow specialism" in primary care that characterized the Soviet health system to a new logic of "generalism" that characterizes primary care in the West. We found three important forms of professional identity threats experienced by physicians during …
Leviathan Inc. And Corporate Environmental Engagement, Po-Hsuan Hsu, Hao Liang, Pedro Matos
Leviathan Inc. And Corporate Environmental Engagement, Po-Hsuan Hsu, Hao Liang, Pedro Matos
Research Collection Lee Kong Chian School Of Business
In a special report in 2010, The Economist called the resurgence of state-owned mega-enterprises, especially those in emerging economies, “Leviathan Inc.”, and warned about the dangers of the state capitalism model. Traditionally, state-owned firms have been criticized for poor governance and questionable efficiency. In fact, they may be better positioned to deal with market failures and externalities. Our findings based on publicly-listed firms in 45 countries suggest that government-controlled companies engage more in environmental issues, and this engagement does not come at a cost to shareholder value. The effect is more pronounced among firms in emerging market economies and in …
Short Selling And Economic Policy Uncertainty, Xiaping Cao, Yuchen Wang, Sili Zhou
Short Selling And Economic Policy Uncertainty, Xiaping Cao, Yuchen Wang, Sili Zhou
Research Collection Lee Kong Chian School Of Business
We study the trading behavior of short sellers in the presence of economic policy uncertainty (EPU). Daily short selling activity at either the aggregate level or the individual stock level is increasing in the EPU index (Baker, Bloom and Davis, 2016). EPU has great explanatory power for short trading. Cross-sectional tests show that the increase in short interest under high political uncertainty is from shorting stocks characterized by higher mispricing, greater policy sensitivity, higher illiquidity, greater volatility or analyst dispersion. Short sellers earn abnormal profits by trading on public information related to EPU.
Does Wage-Inflation Targeting Complement Foreign Exchange Intervention? An Evaluation Of A Multi-Target, Two-Instrument Monetary Policy Framework, Taojun Xie, Jingting Liu, Joseph D. Alba, Wai-Mun Chia
Does Wage-Inflation Targeting Complement Foreign Exchange Intervention? An Evaluation Of A Multi-Target, Two-Instrument Monetary Policy Framework, Taojun Xie, Jingting Liu, Joseph D. Alba, Wai-Mun Chia
Research Collection Lee Kong Chian School Of Business
We assess the inclusion of wage inflation as an intermediate target of an emerging central bank using a dynamic stochastic general equilibrium model with sticky wages and prices calibrated for the South Korean economy. The model includes wage inflation as an additional target jointly with domestic price inflation and the output gap in a Taylor- type interest rate rule operating with a sterilized foreign exchange (FX) intervention rule. Our results show a complementary relationship between wage inflation targeting and price inflation targeting. That is, by supplementing price inflation targeting with wage inflation targeting, welfare improves for cases with and without …
Employee Perceptions Of Organisational Legitimacy As Impersonal Bases Of Organisational Trustworthiness And Trust, Kai Lamertz, Devasheesh P. Bhave
Employee Perceptions Of Organisational Legitimacy As Impersonal Bases Of Organisational Trustworthiness And Trust, Kai Lamertz, Devasheesh P. Bhave
Research Collection Lee Kong Chian School Of Business
Prior research has amply demonstrated that employees’ personal relationship with the organisation influences their trust in it. In this two-study investigation, we examine how employees’ beliefs about the organisation’s legitimacy relate to their organisational trust because legitimacy signals organisational trustworthiness in the impersonal system of the institutional environment. Results from Study 1, which drew on data from one organisation, reveal that employees’ legitimacy beliefs are related to their organisational trust. Furthermore, results from Study 2, which are based on data from five organisations, reveal that employees’ judgment of the organisation’s trustworthiness mediates the relationship between legitimacy beliefs and organisational trust. …
Ethnic Social Network In Public Housing Market In Singapore, Sumit Agarwal, Hyunsoo Choi, Jia He, Tien Foo Sing
Ethnic Social Network In Public Housing Market In Singapore, Sumit Agarwal, Hyunsoo Choi, Jia He, Tien Foo Sing
Research Collection Lee Kong Chian School Of Business
This paper investigates the ethnic social network in Singapore's resale public housing market using a unique dataset containing the Cash-Over-Valuation (COV) information for a sample of 73,107 resale public housing transactions from 2007 to 2012. We find that the COV per square meter (psm), which represents a premium above the "objective" housing value, significantly increases with the concentration of buyers' own ethnic group at a housing block level. The results imply that buyers value housing blocks with higher concentration of the same ethnicity group of households. However, the convexity in COV premium suggests that the premium is too large to …
Ethnic Social Network In Public Housing Market In Singapore, Sumit Agarwal, Hyunsoo Choi, Jia He, Tien Foo Sing
Ethnic Social Network In Public Housing Market In Singapore, Sumit Agarwal, Hyunsoo Choi, Jia He, Tien Foo Sing
Research Collection Lee Kong Chian School Of Business
This paper investigates the ethnic social network in Singapore's resale public housing market using a unique dataset containing the Cash-Over-Valuation (COV) information for a sample of 73,107 resale public housing transactions from 2007 to 2012. We find that the COV per square meter (psm), which represents a premium above the "objective" housing value, significantly increases with the concentration of buyers' own ethnic group at a housing block level. The results imply that buyers value housing blocks with higher concentration of the same ethnicity group of households. However, the convexity in COV premium suggests that the premium is too large to …
Board Representation In International Joint Ventures, Ilya R. P. Cuypers, Gokhan Ertug, Jeffrey J. Reuer, Ben Bensaou
Board Representation In International Joint Ventures, Ilya R. P. Cuypers, Gokhan Ertug, Jeffrey J. Reuer, Ben Bensaou
Research Collection Lee Kong Chian School Of Business
Relatively little attention has been paid to boards in international joint ventures (IJVs), and the composition of these boards in particular. We examine the determinants of foreign partners' representation on IJV boards in order to advance our knowledge of this facet of IJV governance. We argue that a foreign partner's representation on the IJV board is related to its equity contribution. However, we hypothesize that this relationship is moderated by IJV and host country characteristics that affect the importance of the internal and external roles IJV boards serve. These results provide insights into the conditions under which a partner might …
Rent Appropriation Of Knowledge-Based Assets And Firm Performance When Institutions Are Weak: A Study Of Chinese Publicly Listed Firms, Cuili Qian, Heli Wang, Xuesong Geng, Yangxin Yu
Rent Appropriation Of Knowledge-Based Assets And Firm Performance When Institutions Are Weak: A Study Of Chinese Publicly Listed Firms, Cuili Qian, Heli Wang, Xuesong Geng, Yangxin Yu
Research Collection Lee Kong Chian School Of Business
A firm's strategic investments in knowledge-based assets through research and development (R&D) can generate economic rents for the firm, and thus are expected to affect positively a firm's financial performance. However, weak protection of minority shareholders, weak property rights, and ineffective law enforcement can allow those rents to be appropriated disproportionately by a firm's powerful insiders such as large owners and top managers. Recent data on Chinese publicly listed firms during 2007-2012 were used to demonstrate that the expected positive relationship between knowledge assets and performance is weaker in transition economies when a firm's ownership is highly concentrated and its …
Experimental Test Validation: Examining The Path From Test Elements To Test Performance, Stefan Krumm, Joachim Huffmeier, Filip Lievens
Experimental Test Validation: Examining The Path From Test Elements To Test Performance, Stefan Krumm, Joachim Huffmeier, Filip Lievens
Research Collection Lee Kong Chian School Of Business
Although the vast majority of validation studies rely on correlational validity evidence, there is an increased recognition that validity should also focus on whether variations in the focal psychological attribute lead to variations in the measurement outcomes. Therefore, calls have been made that validity evidence should also be gathered through experiments. Existing experimental validation strategies focus on manipulating psychological attributes and their effects on measurement outcomes. In the current manuscript, we present an additional and complementary approach that focuses on manipulating test elements (instead of psychological attributes) that are considered indispensable for test functioning. Examples from personality, situational judgment, emotional …
Corporate Employee-Engagement And Merger Outcomes, Hao Liang, Luc Renneboog, Cara Vansteenkiste
Corporate Employee-Engagement And Merger Outcomes, Hao Liang, Luc Renneboog, Cara Vansteenkiste
Research Collection Lee Kong Chian School Of Business
Extending the theories of employee incentives and inalienability of human capital, we investigate the link between a firm’s engagement in employee issues and the returns to shareholders around mergers and acquisitions (M&As) and analyze an international sample of 4,565 M&A deals from 48 countries. We find that stronger employee-engagement — especially in terms of monetary benefits — by the acquiring firm is positively related to shareholder returns in domestic deals, but this positive effect is attenuated in cross-border deals, whereas workforce diversity, training and development, or health and safety do not affect shareholder value. The attenuating effect of cross-border deals …
Individual Differences And Their Measurement: A Review Of 100 Years Of Research, Paul R. Sackett, Filip Lievens, Chad H. Van Iddekinge, Nathan R. Kuncel
Individual Differences And Their Measurement: A Review Of 100 Years Of Research, Paul R. Sackett, Filip Lievens, Chad H. Van Iddekinge, Nathan R. Kuncel
Research Collection Lee Kong Chian School Of Business
This article reviews 100 years of research on individual differences and their measurement, with a focus on research published in the Journal of Applied Psychology. We focus on 3 major individual differences domains: (a) knowledge, skill, and ability, including both the cognitive and physical domains; (b) personality, including integrity, emotional intelligence, stable motivational attributes (e.g., achievement motivation, core self-evaluations), and creativity; and (c) vocational interests. For each domain, we describe the evolution of the domain across the years and highlight major theoretical, empirical, and methodological developments, including relationships between individual differences and variables such as job performance, job satisfaction, and …
Understanding Public Relations In The 'Sharing Economy', Anne Gregory, Gregor Halff
Understanding Public Relations In The 'Sharing Economy', Anne Gregory, Gregor Halff
Research Collection Lee Kong Chian School Of Business
In spite of the macro-economic impact of the so-called ‘sharing economy’ there is a nearly complete dearth of contributions from the communication academy to its discourse. More attention is overdue, particularly for the conceptual pressure the ‘sharing economy’ is exerting on the public relations function. The authors propose a reconceptualization of public relations by identifying the constitutive aspects of the sharing economy and bringing together the explanatory concepts ‘circuits of commerce’ and ‘viable matches’ from economic sociology and communicative constitution of organizations theory to develop the notions of ‘deliberate disintermediation’ and ‘circuits of communication’ in public relations. The contention is …
Institutional Regime Shift In Intellectual Property Rights And Innovation Strategies Of Firms In China, Kenneth G. L. Huang, Xuesong Geng, Heli Wang
Institutional Regime Shift In Intellectual Property Rights And Innovation Strategies Of Firms In China, Kenneth G. L. Huang, Xuesong Geng, Heli Wang
Research Collection Lee Kong Chian School Of Business
This study develops a novel conceptual framework to understand the differential impact of formal institutional regime shift in intellectual property rights on the innovation and patenting strategies of Chinese and Western firms operating in China. We argue that to the extent that Chinese firms have been deeply embedded in China’s informal institutions,they are less responsive to formal institutional changes than Western firms operating in China. Using the major China patent law reform of 2001 as an exogenous event, we find results consistent with our key arguments: With the strengthening of the previously weak (utility model) patent protection, Chinese firms are …
Sensation-Seeking Hedge Funds, Stephen Brown, Yan Lu, Sugata Ray, Melvyn Teo
Sensation-Seeking Hedge Funds, Stephen Brown, Yan Lu, Sugata Ray, Melvyn Teo
Research Collection Lee Kong Chian School Of Business
Using a novel dataset of hedge fund manager automobile purchases, we show that, motivated by sensation seeking, hedge fund managers often take risk for personal and non-pecuniary reasons. In line with the sensation seeking view, managers who own powerful sports cars take on more investment risk but do not deliver higher returns, resulting in lower Sharpe ratios. Moreover, funds managed by performance car owners exhibit higher operational risk and are more likely to fail. Performance car owners demonstrate other attributes associated with sensation seeking, such as a preference for lottery-like stocks, unconventional strategies, and active trading.
Exchange And Refund Of Complementary Products, Yoonju Han, Sandeep R. Chandukala, Hai Che
Exchange And Refund Of Complementary Products, Yoonju Han, Sandeep R. Chandukala, Hai Che
Research Collection Lee Kong Chian School Of Business
A common dilemma a consumer faces during product return pertains to the decision of exchanging the product or obtaining a refund. This issue becomes even more salient for durable goods, when the initial purchase involves complementary products from different categories. This research examines consumer’s trade-off decision between returning and keeping complementary products by exploring various retail actions (using umbrella branded products (UBP)) and customer characteristics. We also investigate the trade-off between product exchange and refund when consumer returns a product. We find interesting extensions to past research wherein UBP are returned less and result in greater exchange than refund. Furthermore, …
Institutional Regime Shift In Intellectual Property Rights And Innovation Strategies Of Firms In China, Kenneth Guang-Lih Huang, Xuesong Geng, Heli Wang
Institutional Regime Shift In Intellectual Property Rights And Innovation Strategies Of Firms In China, Kenneth Guang-Lih Huang, Xuesong Geng, Heli Wang
Research Collection Lee Kong Chian School Of Business
This study develops a novel conceptual framework to understand the differential impact of formal institutional regime shift in intellectual property rights on the innovation and patenting strategies of Chinese and Western firms operating in China. We argue that to the extent that Chinese firms have been deeply embedded in China’s informal institutions, they are less responsive to formal institutional changes than Western firms operating in China. Using the major China patent law reform of 2001 as an exogenous event, we find results consistent with our key arguments: With the strengthening of the previously weak (utility model) patent protection, Chinese firms …
When The Target May Know Better: Effects Of Experience And Information Asymmetries On Value From Mergers And Acquisitions, Ilya R. P. Cuypers, Youtha Cuypers, Xavier Martin
When The Target May Know Better: Effects Of Experience And Information Asymmetries On Value From Mergers And Acquisitions, Ilya R. P. Cuypers, Youtha Cuypers, Xavier Martin
Research Collection Lee Kong Chian School Of Business
Extending research on the effect of experience on acquisition outcomes, we examine how the differential in previous M&A experience between the target and the acquirer affects the value they, respectively, obtain when the acquirer takes over the target. Drawing on literature about organizational learning, negotiation, and information economics, we theorize that the party with greater experience will be able to obtain more value. Furthermore, we theorize that the effect of differential M&A experience on value obtained is contingent on the level of information asymmetry the acquirer faces with respect to the target, specifically as a function of the target's product-market …
Multinational Firms And Cash Holdings: Evidence From China, Weijun Wu, Yang Yang, Sili Zhou
Multinational Firms And Cash Holdings: Evidence From China, Weijun Wu, Yang Yang, Sili Zhou
Research Collection Lee Kong Chian School Of Business
To adapt to globalization, Chinese multinational firms have more exploitation of cash. This paper shows that Chinese multinational corporations (MNCs) do not hold significantly more cash relative to domestic firms unless these multinationals heavily relay on the foreign sales. In addition, the multinationals of non-State-Owned Enterprises (Non-SOEs) exhibit the insignificant difference in cash holdings for non-multinationals. We also find that Chinese MNCs invest more but are less profitable, especially in non-SOE subsample. Overall, we conclude that the need of cash liquidity of multinational corporations in China is different from those in U.S.
What Doesn't Kill You Will Only Make You More Risk-Loving: Early-Life Disasters And Ceo Behavior, Gennaro Bernile, Vineet Bhagwat, P. Raghavendra Rau
What Doesn't Kill You Will Only Make You More Risk-Loving: Early-Life Disasters And Ceo Behavior, Gennaro Bernile, Vineet Bhagwat, P. Raghavendra Rau
Research Collection Lee Kong Chian School Of Business
The literature on managerial style posits a linear relation between a chief executive officer's (CEOs) past experiences and firm risk. We show that there is a nonmonotonic relation between the intensity of CEOs’ early-life exposure to fatal disasters and corporate risk-taking. CEOs who experience fatal disasters without extremely negative consequences lead firms that behave more aggressively, whereas CEOs who witness the extreme downside of disasters behave more conservatively. These patterns manifest across various corporate policies including leverage, cash holdings, and acquisition activity. Ultimately, the link between CEOs’ disaster experience and corporate policies has real economic consequences on firm riskiness and …
What Case Studies Can Teach Us In International Public Relations, Gregor Halff
What Case Studies Can Teach Us In International Public Relations, Gregor Halff
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Managing Production-Inventory Systems With Scarce Resources, Saif Benjaafar, David Chen, Rowan Wang
Managing Production-Inventory Systems With Scarce Resources, Saif Benjaafar, David Chen, Rowan Wang
Research Collection Lee Kong Chian School Of Business
We consider the problem of managing production in a production-inventory system where a firm is subject to an allowance (a limit) on either the amount of input it can use or the amount of output it can produce over a specified compliance period (in addition to being subject to a constraint on the production capacity). Examples of such settings are numerous and include those where limits are placed on the use of scarce natural resources as input or on the amount of waste or harmful pollution generated by production as output. We study the structure of the optimal production policy …
Determinants Of Employee Turnover Intention: Understanding The Roles Of Organizational Justice, Supervisory Justice, Authoritarian Organizational Culture And Organization-Employee Relationship Quality, Soojin Kim, Lisa Tam, Jeong-Nam Kim, Yunna Rhee
Determinants Of Employee Turnover Intention: Understanding The Roles Of Organizational Justice, Supervisory Justice, Authoritarian Organizational Culture And Organization-Employee Relationship Quality, Soojin Kim, Lisa Tam, Jeong-Nam Kim, Yunna Rhee
Research Collection Lee Kong Chian School Of Business
Purpose: The purpose of this paper is to identify associations amongst organizational justice, supervisory justice, authoritarian culture, organization-employeerelationship quality and employee turnover intention. Design/methodology/approach: An online survey (n=300) was conducted in South Korea. Findings: Organizational justice and supervisory justice are positively associated with organization-employee relationship quality, while authoritarian organizational culture is negatively associated with it. In addition, there is a positive association between authoritarian organizational culture and turnover intention. Organizational justice and organization-employee relationship quality are negatively associated with turnover intention. Originality/value: This study contributes to the lack of research on organization-employee relationship quality as a predictor of employee turnover …
International Volatility Risk And Chinese Stock Return Predictability, Jian Chen, Fuwei Jiang, Yangshu Liu, Jun Tu
International Volatility Risk And Chinese Stock Return Predictability, Jian Chen, Fuwei Jiang, Yangshu Liu, Jun Tu
Research Collection Lee Kong Chian School Of Business
This paper investigates the predictive ability of international volatility risks for the daily Chinese stock market returns. We employ the innovations in implied volatility indexes of seven major international markets as our international volatility risk proxies. We find that international volatility risks are negatively associated with contemporaneous Chinese daily overnight stock returns, while positively forecast next-day Chinese daytime stock returns. The US volatility risk (ΔVIX) is particularly powerful in forecasting Chinese stock returns, and plays a dominant role relative to the other six international volatility measures. ΔVIX's forecasting power remains strong after controlling for Chinese domestic volatility and is robust …
Product Safety Failure And Restoring Reputation Across Markets: Fonterra's Management Of The 2013 Bacterial Contamination Crisis, Augustine Pang
Product Safety Failure And Restoring Reputation Across Markets: Fonterra's Management Of The 2013 Bacterial Contamination Crisis, Augustine Pang
Research Collection Lee Kong Chian School Of Business
Modern distribution systems often stretch beyond national borders such that a highly-visible product failure in a single country may negatively influence the reputation and market share of all identifiable supply chain members-even those that are blameless-in multiple countries, especially when the product is related to food safety. This study considers how Fonterra's response to its 2013 bacterial contamination crisis influenced its own reputation and that of the New Zealand dairy milk industry. It first traces how the crisis started in March 2013 and how it ended in August when investigations showed that the bacteria found did not cause botulism, a …
Analytics, Innovation, And Organizational Adaptation, Gerard George, Yimin Lin
Analytics, Innovation, And Organizational Adaptation, Gerard George, Yimin Lin
Research Collection Lee Kong Chian School Of Business
With the advent of big data, organizations are integrating powerful computing tools into their organizational processes to drive efficiencies and improve service delivery. Yet, at the heart of this conversation lies the role of analytics and big data in innovation within and across organizations. In this article, we provide a stylistic model of the role of analytics in innovation and call for further research on the underlying processes, contingencies, and outcomes.
The Effects Of Predictor Method Factors On Selection Outcomes: A Modular Approach To Personnel Selection Procedures, Filip Lievens, Paul R. Sackett
The Effects Of Predictor Method Factors On Selection Outcomes: A Modular Approach To Personnel Selection Procedures, Filip Lievens, Paul R. Sackett
Research Collection Lee Kong Chian School Of Business
Past reviews and meta-analyses typically conceptualized and examined selection procedures as holistic entities. We draw on the product design literature to propose a modular approach as a complementary perspective to conceptualizing selection procedures. A modular approach means that a product is broken down into its key underlying components. Therefore, we start by presenting a modular framework that identifies the important measurement components of selection procedures. Next, we adopt this modular lens for reviewing the available evidence regarding each of these components in terms of affecting validity, subgroup differences, and applicant perceptions, as well as for identifying new research directions. As …
How Does Interpersonal Justice Affect Outside Directors’ Governance Behavior? A Cross-Cultural Comparison, Esther B. Del Brio, Rosa M. Hernández-Maestro, Toru Yoshikawa
How Does Interpersonal Justice Affect Outside Directors’ Governance Behavior? A Cross-Cultural Comparison, Esther B. Del Brio, Rosa M. Hernández-Maestro, Toru Yoshikawa
Research Collection Lee Kong Chian School Of Business
We examine the impact of interpersonal justice among outside directors on the board and between a director and the CEO regarding the director’s monitoring and resource provision behaviors in different cultural contexts. We argue that directors from individualistic countries are more influenced by CEO interpersonal justice while directors from collectivistic countries are more affected by the board interpersonal justice. Our main effect results indicate that interpersonal justice with board members is positively related to both monitoring and resource provision by a director, while CEO interpersonal justice is related only to resource provision. Our results also show different effects on the …
Perspectives From 22 Countries On The Legal Environment For Selection, Brett Myors, Filip Lievens, Eveline Schollaert, Greet Van Hoye, Steven F. Cronshow, Antonio Mladinic, Viviana Rodriguez, Herman Aguinis, Dirk D. Steiner, Florence Rolland, Heinz Schuler, Andreas Frintrup, Ioannis Nikolaou, Maria Tomprou, S. Subramony, Shabu B. Raj, Shay Tzafrir, Peter Bamberger, Marilena Bertolino, Marco Mariani
Perspectives From 22 Countries On The Legal Environment For Selection, Brett Myors, Filip Lievens, Eveline Schollaert, Greet Van Hoye, Steven F. Cronshow, Antonio Mladinic, Viviana Rodriguez, Herman Aguinis, Dirk D. Steiner, Florence Rolland, Heinz Schuler, Andreas Frintrup, Ioannis Nikolaou, Maria Tomprou, S. Subramony, Shabu B. Raj, Shay Tzafrir, Peter Bamberger, Marilena Bertolino, Marco Mariani
Research Collection Lee Kong Chian School Of Business
In the United States, the legal context plays a major role in how industrial/organizational (I/O) psychologists approach selection system development. The set of protected groups, the approaches to making an a priori case of discrimination (e.g., differential treatment vs. adverse impact), the key court cases influencing selection, and the prohibitions against preferential treatment (e.g., the 1991 ban on score adjustment or within-group norming) are well known. Selection texts (e.g., Guion, 1998) and human resource management texts (e.g., Cascio & Aguinis, 2008) give prominent treatment to the legal context. In recent years, there has been a growing internationalization of I/O psychology …
When Price Precision Pays In Negotiations, Michael Schaerer
When Price Precision Pays In Negotiations, Michael Schaerer
Research Collection Lee Kong Chian School Of Business
When negotiating, is an offer of 99.95 euros better than 100 euros? Our recent study shows that there is no universally true answer to the question of price precision and that the right strategy depends on with whom you are negotiating.