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Research Collection Lee Kong Chian School Of Business

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Full-Text Articles in Business

The Internationalization Of Singapore’S State Enterprise Network: Notes From Singapore’S Gambits In The Gulf Region, Caroline Yeoh, Wilfred Pow Ngee How Jan 2011

The Internationalization Of Singapore’S State Enterprise Network: Notes From Singapore’S Gambits In The Gulf Region, Caroline Yeoh, Wilfred Pow Ngee How

Research Collection Lee Kong Chian School Of Business

The Singapore system of state-led, market interventions and its concerted attempts at creating overseas infrastructural-industrial township projects have received its share of controversies. These state-engineered projects are premised on the exportability of Singapore’s state credibility, systemic and operational efficiencies as well as technological competencies of Singapore companies, government-linked or not, to locations where the attributes are less distinct. This paper, as part of our series on this topic, revisits the city-state’s determined efforts to encapsulate economic space for Singapore-based firms to expand beyond the region, and tests the efficacy of the ‘Singapore system’ exported to foreign locales. This research, however, …


Markowitz Meets Talmud: A Combination Of Sophisticated And Naive Diversification Strategies, Jun Tu, Guofu Zhou Jan 2011

Markowitz Meets Talmud: A Combination Of Sophisticated And Naive Diversification Strategies, Jun Tu, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

The modern portfolio theory pioneered by Markowitz (1952) is widely used in practice and extensively taught to MBAs. However, the estimated Markowitz portfolio rule and most of its extensions not only underperform the naive 1/N rule (that invests equally across N assets) in simulations, but also lose money on a risk-adjusted basis in many real data sets. In this paper, we propose an optimal combination of the naive 1/N rule with one of the four sophisticated strategies—the Markowitz rule, the Jorion (1986) rule, the MacKinlay and Pástor (2000) rule, and the Kan and Zhou (2007) rule—as a way to improve …


Reshaping Exercise Design In Assessment Centers: Theory, Practice, And Research, Filip Lievens, Eveline Schollaert Jan 2011

Reshaping Exercise Design In Assessment Centers: Theory, Practice, And Research, Filip Lievens, Eveline Schollaert

Research Collection Lee Kong Chian School Of Business

Upon looking at this title, an obvious question is whether assessment center (AC) exercises need to be designed differently from what was done in the past. AC exercises have been around since World War I and their longevity attests to their success. So why propose some changes to this monument in personnel selection and development? Let us first acknowledge that we concur that ACs are in still in good shape. However, every good brand needs some adjustments (which is a more appropriate term than “changes” in this context) once in a while, based on new theoretical insights and empirical research. …


International Entrepreneurship And Capability Development: Qualitative Evidence And Future Research Directions, Erkko Autio, Gerard George, Oliver Alexy Jan 2011

International Entrepreneurship And Capability Development: Qualitative Evidence And Future Research Directions, Erkko Autio, Gerard George, Oliver Alexy

Research Collection Lee Kong Chian School Of Business

In this article, we explore how new capabilities emerge and solidify in new ventures that are faced with fundamental uncertainty from their environment. To do so, we draw from the organizational and entrepreneurial literature on cognition and capabilities. Using initial qualitative evidence from a multi-firm study in the context of new venture internationalization, we develop a cognition-based model of capability emergence in new ventures. Our findings extend the capability development and learning implications of internationalization to the fundamental character of organizing processes in start-ups. Moreover, we derive avenues for future entrepreneurship research on the origins and evolution of capabilities in …


Do Individual Differences In Perceiving Situational Demands Moderate The Relationship Between Personality And Assessment Center Dimension Ratings?, Anne Jansen, Filip Lievens, Martin Kleinmann Jan 2011

Do Individual Differences In Perceiving Situational Demands Moderate The Relationship Between Personality And Assessment Center Dimension Ratings?, Anne Jansen, Filip Lievens, Martin Kleinmann

Research Collection Lee Kong Chian School Of Business

This study contributes to research on assessment centers' (AC) external construct-related validity by investigating a potential moderator of the relationship between personality and AC dimension ratings. On the basis of recent insights in person-situation contingencies we hypothesized that individual differences in people's perception of situational demands moderate the relationship between personality and conceptually related AC dimension ratings. The hypotheses were tested with 108 individuals in two leaderless group discussion exercises. Results confirmed the hypotheses for two of the three traits (i.e., Agreeableness and Conscientiousness). In particular, people high on these traits who identified the situational demands received higher AC dimension …


Consolidating Or Non-Consolidating Queues: A Game Theoretic Queuing Model With Holding Costs, Kwan Eng Wee, Ananth Iyer Jan 2011

Consolidating Or Non-Consolidating Queues: A Game Theoretic Queuing Model With Holding Costs, Kwan Eng Wee, Ananth Iyer

Research Collection Lee Kong Chian School Of Business

We consider a two-server queueing system in which the servers choose their service rate based on the demand and holding cost allocation scheme offered by the demand generating entity. We provide an optimal holding cost allocation scheme that leads to the maximum possible service rate for each of a pooled and a split system. Our results suggest that careful allocation of holding costs can create incentives that enable minimum turnaround times using a common queue.


The Role Of Gender In Negotiation, Elizabeth Layne Paddock, L. J. Kray Jan 2011

The Role Of Gender In Negotiation, Elizabeth Layne Paddock, L. J. Kray

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Measurement Equivalence Of The Wong And Law Emotional Intelligence Scale Across Self And Other Ratings, Nele Libbrecht, Filip Lievens, Eveline Schollaert Dec 2010

Measurement Equivalence Of The Wong And Law Emotional Intelligence Scale Across Self And Other Ratings, Nele Libbrecht, Filip Lievens, Eveline Schollaert

Research Collection Lee Kong Chian School Of Business

There exist a variety of measurement instruments for assessing emotional intelligence (EI). One approach is the use of other reports wherein knowledgeable informants indicate how well the scale items describe the assessed person's behavior. In other reports, the same EI scales are typically used as in self-reports. However, it is not known whether the measurement structure underlying EI ratings is equivalent across self and other ratings. In this study, the measurement equivalence of an extant EI measure (Wong and Law Emotional Intelligence Scale [WLEIS]) across self and other ratings was tested. Using multiple group confirmatory factor analysis, the authors conducted …


Integrating Ioob And Jdm Through Process-Oriented Research, Jochen Reb Dec 2010

Integrating Ioob And Jdm Through Process-Oriented Research, Jochen Reb

Research Collection Lee Kong Chian School Of Business

One of the most fascinating and counterintuitive insights from negotiation theory is that differences, rather than similarities, open up opportunities for value creation (Raiffa, 2002). Because of different values, beliefs, and perspectives, parties can benefit from their complementarities. Ironically though, negotiators tend to prefer negotiating with similar others, with others they like, presumably because negotiators expect interactions to proceed more smoothly. Differences make interaction more difficult but also potentially more rewarding, if managed correctly.


Reading Your Counterpart: The Benefit Of Emotion Recognition Accuracy For Effectiveness In Negotiation, Hillary Anger Elferbein, Maw Der Foo, Judith White, Hwee Hoon Tan, Voon Chuan Aik Dec 2010

Reading Your Counterpart: The Benefit Of Emotion Recognition Accuracy For Effectiveness In Negotiation, Hillary Anger Elferbein, Maw Der Foo, Judith White, Hwee Hoon Tan, Voon Chuan Aik

Research Collection Lee Kong Chian School Of Business

Using meta-analysis, we find a consistent positive correlation between emotion recognition accuracy (ERA) and goal-oriented performance. However, this existing research relies primarily on subjective perceptions of performance. The current study tested the impact of ERA on objective performance in a mixed-motive buyer-seller negotiation exercise. Greater recognition of posed facial expressions predicted better objective outcomes for participants from Singapore playing the role of seller, both in terms of creating value and claiming a greater share for themselves. The present study is distinct from past research on the effects of individual differences on negotiation outcomes in that it uses a performance-based test …


Regulatory Focus, Regulatory Fit, And The Search And Consideration Of Choice Alternatives, Michel Tuan Pham, Hannah H. Chang Dec 2010

Regulatory Focus, Regulatory Fit, And The Search And Consideration Of Choice Alternatives, Michel Tuan Pham, Hannah H. Chang

Research Collection Lee Kong Chian School Of Business

This research investigates the effects of regulatory focus on alternative search and consideration set formation in consumer decision making. Results from three experiments yield two primary findings. First, promotion-focused consumers tend to search for alternatives at a more global level, whereas prevention-focused consumers tend to search for alternatives at a more local level. Second, promotionfocused consumers tend to have larger consideration sets than do preventionfocused consumers. Building on these two primary findings, it is additionally shown that whereas promotion-focused consumers attach relatively greater value to options chosen from hierarchically structured sets, prevention-focused consumers attach relatively greater value to options chosen …


The Effects Of Action, Normality, And Decision Carefulness On Anticipated Regret: Evidence For A Broad Mediating Role Of Decision Justifiability., Jochen Reb, Terry Connolly Dec 2010

The Effects Of Action, Normality, And Decision Carefulness On Anticipated Regret: Evidence For A Broad Mediating Role Of Decision Justifiability., Jochen Reb, Terry Connolly

Research Collection Lee Kong Chian School Of Business

Two distinct theoretical views explain the effects of action/inaction and social normality on anticipated regret. Norm theory (Kahneman & Miller, 1986) emphasises the role of decision mutability, the ease with which one can imagine having made a different choice. Decision justification theory (Connolly & Zeelenberg, 2002) highlights the role of decision justifiability, the perception that the choice was made on a defensible basis, supported by convincing arguments or using a thoughtful, comprehensive decision process. The present paper tests several contrasting predictions from the two theoretical approaches in a series of four studies. Study 1 replicated earlier findings showing greater anticipated …


Codes Of Conduct - Managing The Contradictions Between Local And Corporate Norms, Gregor Halff Nov 2010

Codes Of Conduct - Managing The Contradictions Between Local And Corporate Norms, Gregor Halff

Research Collection Lee Kong Chian School Of Business

No abstract provided.


The Impact Of Firm Strategy And Foreign Ownership On Executive Bonus Compensation In Japanese Firms, Toru Yoshikawa, Abdul A. Rasheed, Esther B. Del Brio Nov 2010

The Impact Of Firm Strategy And Foreign Ownership On Executive Bonus Compensation In Japanese Firms, Toru Yoshikawa, Abdul A. Rasheed, Esther B. Del Brio

Research Collection Lee Kong Chian School Of Business

Building on information-processing perspectives and the Japanese contextual factors, this study investigates the relationships between firm strategy and executive bonus pay as well as the moderating role of foreign ownership on the strategy–compensation relationship in Japanese firms. We focus on R&D investment and product diversification as strategy variables and investigate their direct effects on executive bonus pay. Further, we examine the moderating effects of foreign ownership on the strategy–pay sensitivity. The results, based on a sample of the 148 largest industrial firms in Japan for the 1990–1997 period, show that both R&D investment and product diversification are positively related to …


A Daily Investigation Of The Role Of Manager Empathy On Employee Well-Being, Brent A. Scott, Jason A. Colquitt, E. Layne Paddock, Timothy A. Judge Nov 2010

A Daily Investigation Of The Role Of Manager Empathy On Employee Well-Being, Brent A. Scott, Jason A. Colquitt, E. Layne Paddock, Timothy A. Judge

Research Collection Lee Kong Chian School Of Business

In a daily diary study, the authors investigated the top-down influence of manager empathy on a process model of employee well-being. Sixty employees supervised by one of 13 managers completed a daily survey for 2 weeks, producing a total of 436 observations. Hierarchical linear modeling results revealed that, at the daily level, employees who reported somatic complaints made less progress on their goals and felt lower levels of positive affect and higher levels of negative affect. At the group level, cross-level main and interactive effects of manager empathy were observed, such that groups of employees with empathic managers experienced lower …


Bayesian Analysis Of Structural Credit Risk Models With Microstructure Noises, Shirley J. Huang, Jun Yu Nov 2010

Bayesian Analysis Of Structural Credit Risk Models With Microstructure Noises, Shirley J. Huang, Jun Yu

Research Collection Lee Kong Chian School Of Business

In this paper a Markov chain Monte Carlo (MCMC) technique is developed for the Bayesian analysis of structural credit risk models with microstructure noises. The technique is based on the general Bayesian approach with posterior computations performed by Gibbs sampling. Simulations from the Markov chain, whose stationary distribution converges to the posterior distribution, enable exact finite sample inferences of model parameters. The exact inferences can easily be extended to latent state variables and any nonlinear transformation of state variables and parameters, facilitating practical credit risk applications. In addition, the comparison of alternative models can be based on devian information criterion …


International Business Travel In The Global Economy, J.V. Beaverstock, B. Derudder, J. Faulconbridge, F. Witlox (Eds.), Terence Ping Ching Fan Nov 2010

International Business Travel In The Global Economy, J.V. Beaverstock, B. Derudder, J. Faulconbridge, F. Witlox (Eds.), Terence Ping Ching Fan

Research Collection Lee Kong Chian School Of Business

Business travel accounts for a disproportionately large share of revenue and profit to transport service providers, and is therefore an important topic. However, few studies on international travels focus squarely on business travellers because these individuals are inherently difficult to identify: they do not always travel in business cabins (p. 79) and it is increasingly difficult to quantify the duration and function of business trips as travellers build in extra time to allow for flight delays or for other leisure activities (p. 69). Scholars of transport studies, especially air transport specialists, geographers, sociologists, and to a lesser extent, marketers of …


Do Foreign Institutions Improve Stock Liquity?, Chi Shen Wei Nov 2010

Do Foreign Institutions Improve Stock Liquity?, Chi Shen Wei

Research Collection Lee Kong Chian School Of Business

This paper examines whether capital flows by foreign institutions improve liquidity in domestic markets. I find that stocks with increased foreign institutional ownership subsequently experience higher liquidity. However, it is difficult to interpret this evidence as a causal relation because institutions tend to self-select into more liquid stocks. To solve this problem, I exploit the 2003 US dividend tax cut as a natural experiment. The results from a 2SLS (IV) regression confirm that liquidity improved more in dividend-paying stocks located in US tax-treaty countries compared to similar stocks located in non-treaty countries. These patterns are consistent with the notion that …


The Dynamic Impact Of Innovative Capability And Inter-Firm Network On Firm Valuation: A Longitudinal Study Of Biotechnology Start-Ups, Yanfeng Zheng, Jing Liu, Gerard George Nov 2010

The Dynamic Impact Of Innovative Capability And Inter-Firm Network On Firm Valuation: A Longitudinal Study Of Biotechnology Start-Ups, Yanfeng Zheng, Jing Liu, Gerard George

Research Collection Lee Kong Chian School Of Business

Prior research suggests that a high technology start-up's innovative capability and inter-firm network influence its performance and consequently, firm valuation. Few studies consider their joint influence and even fewer consider the temporal change of those effects on firm valuation. In this study, we propose that firm age, a key organizational variable, represents both the development of organizational routines from a start-up's perspective and the accumulation of accessible information from an investor's viewpoint. As such, an investor's evaluation of a high technology start-up's innovative capability and inter-firm network evolves with firm age. Using panel data of 170 biotechnology start-ups, our results …


Admission Systems To Dental School In Europe: A Closer Look At Flanders, Tine Buyse, Filip Lievens, L. Martens Nov 2010

Admission Systems To Dental School In Europe: A Closer Look At Flanders, Tine Buyse, Filip Lievens, L. Martens

Research Collection Lee Kong Chian School Of Business

Dental education in Europe faces enormous challenges. One deals with the admission to dental school. Although admission procedures vary considerably across Europe, a characteristic of some systems is that the same procedure is used across students who will ultimately pursue different majors (medical or dental). This is based on the assumptions that there is no significant difference in these students' scores and that the requirements for medicine and dentistry are equal. This study examines these assumptions in the admission exam 'Medical and Dental Studies' in Flanders. Students who pass may choose whether they start medical or dental education. Over an …


Tradeoffs And Depletion In Choice, Jing Wang, Nathan Novemsky, Ravi Dhar, Roy Baumeister Oct 2010

Tradeoffs And Depletion In Choice, Jing Wang, Nathan Novemsky, Ravi Dhar, Roy Baumeister

Research Collection Lee Kong Chian School Of Business

Four experiments examine why choices deplete executive resources. The authors show that the resolution of trade-offs is a driver of depletion effects arising from choice, and the larger the trade-offs, the greater is the depletion effect. The authors also find that choice difficulty not related to trade-offs does not influence the depleting effect of the choices. Finally, the authors find that though people can intuit some depletion effects, they do not intuit that choices or trade-offs within choices might be depleting and therefore fail to predict that larger trade-offs are more depleting.


The Role Of Emotions In Crisis Responses: Inaugural Test Of The Integrated Crisis Mapping (Icm) Model, Yan Jin, Augustine Pang, Glen T. Cameron Oct 2010

The Role Of Emotions In Crisis Responses: Inaugural Test Of The Integrated Crisis Mapping (Icm) Model, Yan Jin, Augustine Pang, Glen T. Cameron

Research Collection Lee Kong Chian School Of Business

Purpose: The purpose of this paper is to extend current theories in crisis communication, by developing a more systemic approach to understanding the role of emotions in crises and the strategies organizations can use to respond. The authors' integrated crisis mapping (ICM) model is premised on a public-based, emotion-driven perspective where different crises are mapped on two continua, the organization's engagement in the crisis and primary public's coping strategy. Design/methodology/approach: Content analysis was used to analyze 259 stories in US mainstream newspaper covering five different crisis cases. Findings: The initial test suggests theoretical rigor. It found that publics involved in …


Reference Group Effects In The Measurement Of Personality And Attitudes, Marcus Crede, Michael Ramsay Bashshur, Sarah Niehorster Sep 2010

Reference Group Effects In The Measurement Of Personality And Attitudes, Marcus Crede, Michael Ramsay Bashshur, Sarah Niehorster

Research Collection Lee Kong Chian School Of Business

Reference-group effects (discovered in cross-cultural settings) occur when responses to self-report items are based not on respondents’ absolute level of a construct but rather on their level relative to a salient comparison group. In this article, we examine the impact of reference-group effects on the assessment of self-reported personality and attitudes. Two studies illustrate that a reference-group effect can be induced by small changes to instruction sets, changes that mirror the instruction sets of commonly used measures of personality. Scales that specified different reference groups showed substantial reductions in criterion-related validities for academic performance, self-reported counterproductive behaviors, and self-reported health …


International Diversification With Factor Funds, Cheol S. Eun, Sandy Lai, Frans A. De Roon, Zhe Zhang Sep 2010

International Diversification With Factor Funds, Cheol S. Eun, Sandy Lai, Frans A. De Roon, Zhe Zhang

Research Collection Lee Kong Chian School Of Business

We propose a new investment strategy employing “factor funds” to systematically enhance the mean-variance efficiency of international diversification. Our approach is motivated by the increasing evidence that size (SMB), book-to-market (HML), and momentum (MOM) factors, along with the market factor, adequately describe international stock returns, and by the direct link between investors’ portfolio choice problems and international asset pricing theories and tests. Using data from ten developed countries during the period 1981-2008, we show that the “augmented” optimal portfolio involving local factor funds substantially outperforms the “benchmark” optimal portfolio comprising country market indices only as measured by their portfolio Sharpe …


Selecting Predictor Subsets: Considering Validity And Adverse Impact, Wilfred De Corte, Paul Sackett, Filip Lievens Sep 2010

Selecting Predictor Subsets: Considering Validity And Adverse Impact, Wilfred De Corte, Paul Sackett, Filip Lievens

Research Collection Lee Kong Chian School Of Business

The paper proposes a procedure for designing Pareto-optimal selection systems considering validity, adverse impact and constraints on the number of predictors from a larger subset that can be included in an operational selection system. The procedure determines Pareto-optimal composites of a given maximum size thereby solving the dual task of identifying the predictors that will be included in the reduced set and determining the weights with which the retained predictors will be combined to the composite predictor. Compared with earlier proposals, the simultaneous consideration of both tasks makes it possible to combine several strategies for reducing adverse impact in a …


Response Rates In Organizational Science, 1995-2008: A Meta-Analytic Review And Guidelines For Survey Researchers, Frederik Anseel, Filip Lievens, Eveline Schollaert, Beata Choragwicka Sep 2010

Response Rates In Organizational Science, 1995-2008: A Meta-Analytic Review And Guidelines For Survey Researchers, Frederik Anseel, Filip Lievens, Eveline Schollaert, Beata Choragwicka

Research Collection Lee Kong Chian School Of Business

This study expands upon existing knowledge of response rates by conducting a large-scale quantitative review of published response rates. This allowed a fine-grained comparison of response rates across respondent groups. Other unique features of this study are the analysis of response enhancing techniques across respondent groups and response rate trends over time. In order to aid researchers in designing surveys, we provide expected response rate percentiles for different survey modalities.We analyzed 2,037 surveys, covering 1,251,651 individual respondents, published in 12 journals in I/O Psychology, Management, and Marketing during the period 1995-2008. Expected response rate levels were summarized for different types …


Investing Into The Abyss: The Continued Misclassification Of Multi-Sector Managed Funds, John R Watson, N. Allen, Kok Fai Phoon, J. Wickramanayake Sep 2010

Investing Into The Abyss: The Continued Misclassification Of Multi-Sector Managed Funds, John R Watson, N. Allen, Kok Fai Phoon, J. Wickramanayake

Research Collection Lee Kong Chian School Of Business

The objective of this paper is to assess whether Australian multi-sector managed funds are misclassified, and then, having found this to be the case, determine if this misclassification has any impact on fund performance. We adopt a strong form of returns based style analysis to investigate a monthly sample of Australian multi-sector funds over the five-year sample period 2003:04-2008:03. The evidence provided demonstrates that insufficient attention has been paid as to whether fund managers are able to keep within their tactical asset allocation ranges and presents that misclassification exist for Australian multi-sector managed funds but that the effect on fund …


Obtaining Intangible And Tangible Benefits From Corporate Social Responsibility, Wei Nurn Chong, Gilbert Tan Sep 2010

Obtaining Intangible And Tangible Benefits From Corporate Social Responsibility, Wei Nurn Chong, Gilbert Tan

Research Collection Lee Kong Chian School Of Business

The relationship between corporate social responsibility (CSR) and corporate financial performance has been heavily studied in past research. However, little theory has been developed on how CSR may lead to greater corporate financial performance. In this paper, the authors attempt to fill this theoretical gap by explaining how CSR leads to the tangible benefits of attracting better employees, reduced turnover rate, greater efficiency, and reduced operating costs, via the intangible benefits of firm reputation, organizational commitment, and learning. Thereafter, managerial implications and further research opportunities are discussed.


Investor Inattention And The Underreaction To Stock Recommendations, Roger Loh Sep 2010

Investor Inattention And The Underreaction To Stock Recommendations, Roger Loh

Research Collection Lee Kong Chian School Of Business

Investors’ reaction to stock recommendations is often incomplete so that there is a predictable post-recommendation drift. I investigate investor inattention as a plausible explanation for this drift by using prior turnover as a proxy for attention. I find that low attention stocks react less to stock recommendations than high attention stocks around the three-day event window. Subsequently, the recommendation drift of firms with low attention is more than double in magnitude when compared to firms with high attention. Similar conclusions are reached with alternative proxies for attention. The evidence supports investor inattention as a source of the stock recommendation drift.


Nonprofit Organisations And Social Entrepreneurship Intentions, Wee Liang Tan Sep 2010

Nonprofit Organisations And Social Entrepreneurship Intentions, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

Nonprofit organizations are valued because they provide services that address unmet needs. Non-profit organizations who engage in social entrepreneurship augment their contributions through the new services, programs, enterprises and revenue generated. It is not surprising, therefore, for policy makers to encourage social entrepreneurship, social innovations and social enterprises. Such an initia-tive was introduced in Singapore recently. However, not all nonprofit organizations seek to innovate or create social enterprises. They may continue to devote themselves to their specific fields and exist-ing practices. Entrepreneurship research suggests that under certain conditions, organizations engage in entrepreneurship through new ventures, projects, and innovations. Hence, it …