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Articles 2131 - 2160 of 3153
Full-Text Articles in Business
Consolidating Information In Option Transactions, Richard Holowczak, Jianfeng Hu, Liuren Wu
Consolidating Information In Option Transactions, Richard Holowczak, Jianfeng Hu, Liuren Wu
Research Collection Lee Kong Chian School Of Business
Underlying each stock trades hundreds of options at different strike prices and maturities. The order flows from these option transactions reveal important information about the underlying stock price. How to aggregate the trade information of different option contracts underlying the same stock presents an interesting and important question for developing microstructure theories and price discovery mechanisms in the derivatives markets. This paper takes options on QQQQ, the Nasdaq 100 tracking stock, as an example and examines different order flow consolidation mechanisms in terms of their effectiveness in extracting information about the underlying stock price and volatility movements. The analysis leads …
Instruments For Personnel Selection In The 21st Century: Research And Practice [In Dutch], Filip Lievens, Britt De Soete
Instruments For Personnel Selection In The 21st Century: Research And Practice [In Dutch], Filip Lievens, Britt De Soete
Research Collection Lee Kong Chian School Of Business
This article presents an evidence-based overview of innovative selection techniques that were developed in the last years to provide an answer to key questions concerning the contemporary practice of selection. In addition, we aim to point out gaps in the current knowledge about these novel techniques to guide future research. The article shows that innovative selection instruments such as conditional reasoning tests, integrity tests, and implicit association tests might offer opportunities to measure value-based competencies, and maladaptive traits. Furthermore, contextualized personality questionnaires, business-related intelligence tests, situational judgment tests, and so-called serious games enable organizations to improve their image, which creates …
Calibrating Mba Job Preferences For The 21st Century, David B. Montgomery, Catherine A. Ramus
Calibrating Mba Job Preferences For The 21st Century, David B. Montgomery, Catherine A. Ramus
Research Collection Lee Kong Chian School Of Business
Our research studies what MBAs in the 21st century care about during their job searches. We update the MBA job preference literature by using adaptive conjoint analysis to calibrate the relative importance of a variety of job factors found in previous research in disparate fields (management, applied psychology, corporate social performance, ethics, and marketing). Our results show the relative importance of organizational reputation related to caring for employees, ethical products/practices, and social and environmental responsibility, compared to factors such as financial package, job challenge, etc., to a sample of 759 MBAs graduating from 11 business schools–8 in North America and …
Art For Reward's Sake: Visual Art Recruits The Ventral Striatum, Simon Lacey, Henrik Hagvedt, Vanessa Patrick, Amy Anderson, Randall Stilla, Gopikrishna Deshpande, Hu Xioping, Joao Sato, Srinivas K. Reddy, Krish Sathian
Art For Reward's Sake: Visual Art Recruits The Ventral Striatum, Simon Lacey, Henrik Hagvedt, Vanessa Patrick, Amy Anderson, Randall Stilla, Gopikrishna Deshpande, Hu Xioping, Joao Sato, Srinivas K. Reddy, Krish Sathian
Research Collection Lee Kong Chian School Of Business
A recent study showed that people evaluate products more positively when they are physically associated with art images than similar non-art images. Neuroimaging studies of visual art have investigated artistic style and esthetic preference but not brain responses attributable specifically to the artistic status of images. Here we tested the hypothesis that the artistic status of images engages reward circuitry, using event-related functional magnetic resonance imaging (fMRI) during viewing of art and non-art images matched for content. Subjects made animacy judgments in response to each image. Relative to non-art images, art images activated, on both subject- and item-wise analyses, reward-related …
Technical Appendix To "Integrating Long-Term And Short-Term Contracting In Beef Supply Chains", Onur Boyabatli, Paul R. Kleindorfer, Stephen R. Koontz
Technical Appendix To "Integrating Long-Term And Short-Term Contracting In Beef Supply Chains", Onur Boyabatli, Paul R. Kleindorfer, Stephen R. Koontz
Research Collection Lee Kong Chian School Of Business
Technical appendix with proofs for propositions in the article: Integrating long-term and short-term contracting in beef supply chains. (2011). Management Science, 57 (10), 1771-1787. https://doi.org/10.1287/mnsc.1110.1362
Hedge Funds, Managerial Skill, And Macroeconomic Variables, Doron Avramov, Robert Kosowski, Narayan Y. Naik, Melvyn Teo
Hedge Funds, Managerial Skill, And Macroeconomic Variables, Doron Avramov, Robert Kosowski, Narayan Y. Naik, Melvyn Teo
Research Collection Lee Kong Chian School Of Business
This paper evaluates hedge fund performance through portfolio strategies that incorporate predictability based on macroeconomic variables. Incorporating predictability substantially improves out-of-sample performance for the entire universe of hedge funds as well as for various investment styles. While we also allow for predictability in fund risk loadings and benchmark returns, the major source of investment profitability is predictability in managerial skills. In particular, long-only strategies that incorporate predictability in managerial skills outperform their Fung and Hsieh (2004) benchmarks by over 17% per year. The economic value of predictability obtains for different rebalancing horizons and alternative benchmark models. It is also robust …
Collective Intelligence Ratio: Measurement Of Real-Time Multimodal Interactions In Team Projects, Paul Kim, Donghwan Lee, Youngjo Lee, Chuan Huang, Tamas Makany
Collective Intelligence Ratio: Measurement Of Real-Time Multimodal Interactions In Team Projects, Paul Kim, Donghwan Lee, Youngjo Lee, Chuan Huang, Tamas Makany
Research Collection Lee Kong Chian School Of Business
PurposeWith a team interaction analysis model, the authors sought to identify a varying range of individual and collective intellectual behaviors in a series of communicative intents particularly expressed with multimodal interaction methods. In this paper, the authors aim to present a new construct (i.e. collective intelligence ratio (CIR)) which refers to a numeric indicator representing the degree of intelligence of a team in which each team member demonstrates an individual intelligence ratio (IR) specific to a team goal.Design/methodology/approachThe authors analyzed multimodal team interaction data linked to communicative intents with a Poisson‐hierarchical generalized linear model (HGLM).FindingsThe study found evidence of a …
Approach Or Avoidance (Or Both?): Integrating Core Self-Evaluations Within An Approach/Avoidance Framework, D. Lance Ferris, Christopher R. Rosen, Russell E. Johnson, Douglas J. Brown, Stephen D. Risavy, Daniel Heller
Approach Or Avoidance (Or Both?): Integrating Core Self-Evaluations Within An Approach/Avoidance Framework, D. Lance Ferris, Christopher R. Rosen, Russell E. Johnson, Douglas J. Brown, Stephen D. Risavy, Daniel Heller
Research Collection Lee Kong Chian School Of Business
Core self‐evaluations (CSE) represent a new personality construct that, despite an accumulation of evidence regarding its predictive validity, provokes debate regarding the fundamental approach or avoidance nature of the construct. This set of studies sought to clarify the approach/avoidance nature of CSE by examining its relation with approach/avoidance personality traits and motivation constructs (Study 1); we subsequently examined approach/avoidance motivational mechanisms as mediators of the relation between CSE and job performance (Study 2). Overall, the studies demonstrate that CSE is best conceptualized as representing both (high) approach tendencies and (low) avoidance tendencies; implications of these findings for CSE theory are …
Ipo Timing, Buyout Sponsors’ Exit Strategies And Firm Performance Of Rlbos, Jerry Xiaping Cao
Ipo Timing, Buyout Sponsors’ Exit Strategies And Firm Performance Of Rlbos, Jerry Xiaping Cao
Research Collection Lee Kong Chian School Of Business
This paper studies the impact of buyout sponsors’ IPO timing on the LBO restructuring process and subsequent exit strategies. I find that LBO duration is negatively related to hot IPO market conditions. Further, following IPOs, RLBOs with shorter LBO duration experience greater deterioration of performance and higher probability of bankruptcy. This suggests that sponsor’s efforts to enhance operating efficiency succumb to market timing. IPO timing does not affect sponsor’s exit strategies and monitoring post IPO. Sponsors keep an active long-run presence with more reputable sponsors more likely to exit by facilitating takeovers.
Pairwise Correlations, Tarun Chordia, Amit Goyal, Qing Tong
Pairwise Correlations, Tarun Chordia, Amit Goyal, Qing Tong
Research Collection Lee Kong Chian School Of Business
Pairwise stock correlations increase by 27% on average when stock returns are negative. It is trading activity in small stocks that leads to higher correlations when returns are negative. We provide evidence consistent with the hypothesis that co-ordinated selling by retail investors drives this asymmetry in correlations. The co-ordinated selling activity by retail investors is triggered by negative market returns.
The Unintended Effects Of The Sarbanes-Oxley Act, Vidhi Chhaochharia, Clemens A. Otto, Vikrant Vig
The Unintended Effects Of The Sarbanes-Oxley Act, Vidhi Chhaochharia, Clemens A. Otto, Vikrant Vig
Research Collection Lee Kong Chian School Of Business
The Sarbanes-Oxley Act (SOX) was passed in the wake of several scandals that rocked corporate America in 2001 and 2002. The objective behind SOX was to improve corporate governance by improving accounting disclosures. Compliance with Section 404 is considered by many to be the most costly requirement of SOX and has been argued to be a disproportionate burden for small firms. Consequently, firms with a public float below $75 million were granted several exemptions from compliance. We document an unintended effect of these exemptions: a weakening of corporate governance through a weakening of the market for corporate control.
Understanding Port Choice Behaviour: A Network Perspective, Loon Ching Tang, Joyce M. W. Low, Shao Wei Lam
Understanding Port Choice Behaviour: A Network Perspective, Loon Ching Tang, Joyce M. W. Low, Shao Wei Lam
Research Collection Lee Kong Chian School Of Business
A novel Network-based Integrated Choice Evaluation (NICE) model is developed to enhance the multinomial logit preference (MNL) model that is widely employed in the existing port choice literature. The NICE model integrates the element of port service network with observational port attributes to identify important quality characteristics on which liner shipping companies base their port choices. An empirical study of the proposed model is conducted through the service schedules of three established liner shipping companies. Results show that port efficiency and scale economies are the more important dimensions influencing liner shipping companies’ selection of major Asian ports. Nevertheless, it is …
When Are Analyst Recommendation Changes Influential?, Roger Loh, Rene M. Stulz
When Are Analyst Recommendation Changes Influential?, Roger Loh, Rene M. Stulz
Research Collection Lee Kong Chian School Of Business
The existing literature measures the contribution of analyst recommendation changes using average stock-price reactions. With such an approach, recommendation changes can have a significant impact even if no recommendation has a visible stock-price impact. Instead, we call a recommendation change influential only if it affects the stock price of the affected firm visibly. We show that only 12% of recommendation changes are influential. Recommendation changes are more likely to be influential if they are from leader, star, previously influential analysts, issued away from consensus, accompanied by earnings forecasts, and issued on growth, small, high institutional ownership, or high forecast dispersion …
Audience Perceptions Of Charismatic And Non-Charismatic Oratory: The Case Of Management Gurus, Timothy Adrian Robert Clark, David Greatbatch
Audience Perceptions Of Charismatic And Non-Charismatic Oratory: The Case Of Management Gurus, Timothy Adrian Robert Clark, David Greatbatch
Research Collection Lee Kong Chian School Of Business
The purpose of the paper is to investigate whether people consider someone a charismatic speaker because they are deploying the generic features commonly identified as being associated with charismatic oratory in the literature, or whether the attribution of charisma is informed by factors which vary across different settings. Video-taped extracts from speeches given by seven people widely regarded as influential thought leaders – Kenneth Blanchard, Stephen Covey, Daniel Goleman, Gary Hamel, Rosabeth Moss Kanter, Tom Peters and Peter Senge – were shown to different audiences. After viewing each extract they rated the extent to which they found the speaker charismatic …
Out-Of-Sample Industry Return Predictability: Evidence From A Large Number Of Predictors, David E. Rapach, Jack K. Strauss, Jun Tu, Guofu Zhou
Out-Of-Sample Industry Return Predictability: Evidence From A Large Number Of Predictors, David E. Rapach, Jack K. Strauss, Jun Tu, Guofu Zhou
Research Collection Lee Kong Chian School Of Business
We uncover extensive evidence of out-of-sample return predictability for industry portfolios based on a principal component approach that incorporates information from a large number of predictors. Moreover, we find substantial differences in the degree of return predictability across industries. To understand these differences, we propose a decomposition of out-of-sample industry return predictability into beta and alpha shares, where the former corresponds to a conditional beta pricing model. A conditional version of the popular Fama-French three-factor model accounts for nearly all out-of-sample industry return predictability, with exposures to time-varying market and size risk premiums especially important for explaining differences in return …
Doing Good, Feeling Good: Examining The Role Of Organizational Citizenship Behaviors In Changing Mood, Theresa M. Glomb, Devasheesh P. Bhave, Andrew G. Miner, Melanie Wall
Doing Good, Feeling Good: Examining The Role Of Organizational Citizenship Behaviors In Changing Mood, Theresa M. Glomb, Devasheesh P. Bhave, Andrew G. Miner, Melanie Wall
Research Collection Lee Kong Chian School Of Business
This study investigates whether the altruism and courtesy dimensions of organizational citizenship behaviors (OCB) regulate mood at work. Social psychological theories of mood regulation suggest helping behaviors can improve individuals’ moods because helping others provides gratification and directs attention away from one's negative mood. We capture mood states prior to and following the enactment of OCBs using experience sampling methodology in a sample of managerial and professional employees over a 3-week period. Results suggest altruism shows a pattern consistent with mood regulation; negative moods during the prior time period are associated with altruism and positive moods in the subsequent time …
The Stability Of Time- Versus Money-Based Product Evaluations, Leonard Lee, Michelle P. Lee, Gal Zauberman
The Stability Of Time- Versus Money-Based Product Evaluations, Leonard Lee, Michelle P. Lee, Gal Zauberman
Research Collection Lee Kong Chian School Of Business
Consumers constantly make product decisions involving temporal and monetary considerations. In this work, we examine how consideration of these two fundamental economic resources influences the stability of product evaluations. Results from a series of seven experiments demonstrate that, despite prior research that has shown that the valuation of time is more ambiguous and context-dependent than the valuation of money, time-based product preferences tend to be more consistent than money-based product preferences. Our findings support an affect-based account: compared to monetary considerations, temporal considerations elicit greater reliance on feelings versus analytical evaluation, which facilitates holistic judgments and promotes preference consistency. Consequently, …
Applicant Versus Employee Scores On Self-Report Emotional Intelligence Measures, Filip Lievens, Ute-Christine Klehe, Nele Libbrecht
Applicant Versus Employee Scores On Self-Report Emotional Intelligence Measures, Filip Lievens, Ute-Christine Klehe, Nele Libbrecht
Research Collection Lee Kong Chian School Of Business
There exists growing interest to assess applicants' emotional intelligence (EI) via self-report trait-based measures of EI as part of the selection process. However, some studies that experimentally manipulated applicant conditions have cautioned that in these conditions use of self-report measures for assessing EI might lead to considerably higher scores than current norm scores suggest. So far, no studies have scrutinized self-reported EI scores among a sample of actual job applicants. Therefore, this study compares the scores of actual applicants at a large ICT organization (n = 109) on a well-known self-report measure of EI to the scores of employees already …
Procurement Risk Management In Beef Supply Chains, Onur Boyabatli, Paul R. Kleindorfer, Steve R. Koontz
Procurement Risk Management In Beef Supply Chains, Onur Boyabatli, Paul R. Kleindorfer, Steve R. Koontz
Research Collection Lee Kong Chian School Of Business
This chapter develops the theoretical model and provides the optimal solution for the procurement portfolio of the packer. It describes the computational results for the above model based on data for the U.S. beef industry described in the GIPSA Report, and complemented by industry demand and supply studies. The chapter determines the impact on the optimal procurement portfolio of spot price and demand uncertainty, the degree of substitution between products in final markets, as well as the cost characteristics of the packer and the nature of quality and cost differences in the contract and spot markets. It provides insights about …
Trust Building, Diagnosis, And Repair In The Context Of Negotiation, Donald L. Ferrin, Dejun Tony Kong, Kurt T. Dirks
Trust Building, Diagnosis, And Repair In The Context Of Negotiation, Donald L. Ferrin, Dejun Tony Kong, Kurt T. Dirks
Research Collection Lee Kong Chian School Of Business
The following sections are included in this chapter: What is Trust and How is it Manifested in Negotiations?; What Makes a Negotiation Party Trustworthy?; Ability; Integrity; Benevolence; Perceived ability, integrity, and benevolence in combination; How Can I Gain Others' Trust?; How Can I Assess Another's Trustworthiness?; Repairing Trust After a Violation.
The Business Model In Practice And Its Implications For Entrepreneurship Research, Gerard George, Adam J. Bock
The Business Model In Practice And Its Implications For Entrepreneurship Research, Gerard George, Adam J. Bock
Research Collection Lee Kong Chian School Of Business
While the term 'business model' has gained widespread use in the practice community, the academic literature on this topic is fragmented and confounded by inconsistent definitions and construct boundaries. In this study, we review prior research and reframe the business model with an entrepreneurial lens. We report on a discourse analysis of 151 surveys of practicing managers to better understand their conceptualization of a business model. We find that the underlying dimensions of the business model are resource structure, transactive structure, and value structure, and discuss the nature and implications of dimensional dominance for firm characteristics and behavior. These findings …
On The Value Relevance Of Retailer Advertising Spending And Same-Store Sales Growth, Kapil Tuli, Anirban Mukherjee, Marnik G. Dekimpe
On The Value Relevance Of Retailer Advertising Spending And Same-Store Sales Growth, Kapil Tuli, Anirban Mukherjee, Marnik G. Dekimpe
Research Collection Lee Kong Chian School Of Business
In response to recent calls to study factors that determine a retailer's stock price, this study draws on signaling theory to examine the impact of two key marketing metrics that are widely disclosed by retailers to investors, advertising spending and growth in same-store sales (COMPS), and highlights the moderating role of various firm- and sector-specific factors. Using a stock-response model estimated on a sample of 1,646 observations for 257 retailers, the authors find that the value relevance of advertising spending and COMPS depends on the financial condition of, and the competitive pressures faced by, the retailer. In addition, the positive …
Lessons From The Financial Crisis: Report Of The Asian Financial Regulatory Committee, Jeremy Choo Yong Goh, Sri Adiningsih, Maria S. Gochoco-Bautista
Lessons From The Financial Crisis: Report Of The Asian Financial Regulatory Committee, Jeremy Choo Yong Goh, Sri Adiningsih, Maria S. Gochoco-Bautista
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Understanding Investor Sentiment: The Case Of Soccer, Gennaro Bernile, Evgeny Lyandres
Understanding Investor Sentiment: The Case Of Soccer, Gennaro Bernile, Evgeny Lyandres
Research Collection Lee Kong Chian School Of Business
We examine the extent to which the stock market's inefficient responses to resolutions of uncertainty depend on investors’ biased ex ante beliefs regarding the probability distribution of future event outcomes or their ex post irrational reactions to these outcomes. We use a sample of publicly traded European soccer clubs and analyze their returns around important matches. Using a novel proxy for investors’ expectations based on contracts traded on betting exchanges (prediction markets), we find that within our sample, investor sentiment is attributable, in part, to a systematic bias in investors’ ex ante expectations. Investors are overly optimistic about their teams’ …
Autonomy In The Workplace: An Essential Ingredient To Employee Engagement And Well-Being In Every Culture, Marylène Gagne, Devasheesh P. Bhave
Autonomy In The Workplace: An Essential Ingredient To Employee Engagement And Well-Being In Every Culture, Marylène Gagne, Devasheesh P. Bhave
Research Collection Lee Kong Chian School Of Business
The nature of organizational life requires questioning the role of worker autonomy. An impressive amount of management research has been devoted to autonomy issues in organizations. Autonomy is at the forefront of research on job design and the management of employees. Therefore, we review evidence in the area of job design and management practices that deeply affect worker autonomy. Throughout this discussion, we evaluate the cross-cultural applicability of research and practice and offer future directions based on self-determination theory.
A Sustainable Model For Business Schools?, Kai Peters, Howard Thomas
A Sustainable Model For Business Schools?, Kai Peters, Howard Thomas
Research Collection Lee Kong Chian School Of Business
The article looks at the condition of business model of business schools, and presents the views of the authors on its instability in terms of finance and unsustainability. It explores the financial drivers of business schools, both on the income and expenditure sides, as well as highlights the areas of distinct concern for business school finances. The sources of funding for business schools are discussed.
Business School Futures: Evaluation And Perspectives, Howard Thomas, Eric Cornuel
Business School Futures: Evaluation And Perspectives, Howard Thomas, Eric Cornuel
Research Collection Lee Kong Chian School Of Business
The purpose of this paper is to present details of this special issue, that has as its theme: “Business school futures: evaluation and perspectives”. The Guest Editors have assembled a set of papers presented at recent AACSB/EFMD meetings to provide further fuel for this important debate. Together the papers in this volume provide a set of insights about important themes and perspectives on business schools as we reflect about their future evolution. The insights presented in this special issue should provide the fuel for continued critical debate and dialogue as we confront the current turning points in management education and …
Perspectives On Leadership In Business Schools, Howard Thomas, Lynne Thomas
Perspectives On Leadership In Business Schools, Howard Thomas, Lynne Thomas
Research Collection Lee Kong Chian School Of Business
This paper aims to focus on leadership in business schools. It seeks to advocate examining strategic leadership processes through the exploration of interactions between such multiple constituencies as the dean, faculty, university councils and advisory boards. A range of models of the leadership process are identified and illustrated, namely, the strategic leadership process model, a model of leadership dynamics and an interactionist model, involving an examination of leadership characteristics, context and leadership style. The current financial crisis and criticisms of the business school in the modern university require deans to address changing models and contingencies, globalisation and moral values in …
The Impact Of Underemployment On Individual And Organizational Performance, Michael Ramsay Bashshur, Ana Hernández, José María Peiró
The Impact Of Underemployment On Individual And Organizational Performance, Michael Ramsay Bashshur, Ana Hernández, José María Peiró
Research Collection Lee Kong Chian School Of Business
The issue of underemployment is one of increasing concern for countries across the globe. For example, in the USA estimates have put the number of underemployed as high as 20.3%, while in Europe the number of overqualified workers (just one dimension of underemployment) has been estimated at 21.5% (Groot & Maassen van den Brink, 2000). Unfortunately, given the current global economic crisis, this situation can only be expected to worsen in the near future. The international labor pool is becoming more educated and qualified (Peiró, Agut, & Grau, 2010) while organizations worldwide are seeking the minimum effective level of human …
A Petri Net-Based Approach To Reconfigurable Manufacturing Systems Modeling, Y. Geng, A. Lim, H. Ma, Brian Rodrigues
A Petri Net-Based Approach To Reconfigurable Manufacturing Systems Modeling, Y. Geng, A. Lim, H. Ma, Brian Rodrigues
Research Collection Lee Kong Chian School Of Business
Reconfigurable manufacturing systems (RMSs) have been used to provide manufacturing companies with the required capacities and capabilities, when needed. Recognizing (1) the importance of dynamic modeling and visualization in decision making support in RMSs and (2) the limitations of the existing studies, we model RMSs based on Petri net (PN) techniques with focus on the process of reconfiguring system elements while considering constraints and system performance. In response to the modeling difficulties identified, a new formalism of colored timed PNs is introduced. In conjunction with colored tokens and timing in colored PNs and timed PNs, we further define a reconfiguration …