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Research Collection Lee Kong Chian School Of Business

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Full-Text Articles in Business

Smart Cities: A Review Of Managerial Challenges And A Framework For Future Research, Thomas Menkhoff Feb 2022

Smart Cities: A Review Of Managerial Challenges And A Framework For Future Research, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

The term 'Smart City' (SC) is often defined in relation to how well a city uses digital technology to improve the efficiency of urban services and to create sustainable, liveable communities. Building such a city where people are co-creators of SC policies is a contested endeavour. Its successful management is enormously complex due to numerous challenges such as implementation problems that may arise at the governance and administration level when roles, responsibilities and success criteria are poorly defined; in terms of budgeting and funding constraints; and/or at the level of collaborative stakeholder management to get buy-in from citizens, private sector …


A Constraint Programming Approach To Load Capacity Planning In Container Vessels, Byung Kwon Lee, Joyce M. W. Low Feb 2022

A Constraint Programming Approach To Load Capacity Planning In Container Vessels, Byung Kwon Lee, Joyce M. W. Low

Research Collection Lee Kong Chian School Of Business

A container vessel carries containers of various characteristics, in terms of size, weight, and contents. The cargo load of a container vessel, being subjected to a set of operational conditions and restrictions regarding ship stability and safety, is a fundamental element in decision-making when a shipping line provides logistics services to clients. This study presents a constraint programming-based model for the capacity planning of a container vessel under various operational conditions. The proposed model generates base solutions and is complemented with a rich scenario-based analysis that utilizes real-life ship data of a container vessel operated by a liner shipping company …


Race And Hedge Funds, Yan Lu, Narayan Y. Naik, Melvyn Teo Feb 2022

Race And Hedge Funds, Yan Lu, Narayan Y. Naik, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

We find that minority operated funds deliver higher alphas, Sharpe ratios, and information ratios than do non-minority operated funds. Moreover, minority fund managers attended more selective schools, worked at higher status investment banks, and are more likely to hold post-graduate degrees. Yet, minority managers raise less start-up capital and attract lower investor flows. Racial homophily fuels investors' appetite for non-minority funds. To address endogeneity, we leverage on an event study of minority manager fund transitions and an instrumental variable analysis that exploits racial imprinting during childhood. The results suggest that minorities face significant barriers to entry in the hedge fund …


Decentralizing Money: Bitcoin Prices And Blockchain Security, Emiliano Sebastian Pagnotta Feb 2022

Decentralizing Money: Bitcoin Prices And Blockchain Security, Emiliano Sebastian Pagnotta

Research Collection Lee Kong Chian School Of Business

We address the determination of bitcoin prices and decentralized security. Users forecast the transactional and resale values of holdings, pricing the risk of systemic attacks. Miners contribute resources to protect against attackers and compete for block rewards. Bitcoin's design leads to multiple equilibria: the same blockchain technology is consistent with sharply different price and security levels. Bitcoin's monetary policy can lead to welfare losses and deviations from quantity theory. Price-security feedback amplifies fundamental shocks' volatility impact and leads to boom and busts unconnected to fundamentals. We characterize how viability versus fiat currency depends on bitcoin's relative acceptability and inflation protection.


Investing In Low-Trust Countries: On The Role Of Social Trust In The Global Mutual Fund Industry, Massimo Massa, Chengwei Wang, Hong Zhang, Jian Zhang Feb 2022

Investing In Low-Trust Countries: On The Role Of Social Trust In The Global Mutual Fund Industry, Massimo Massa, Chengwei Wang, Hong Zhang, Jian Zhang

Research Collection Lee Kong Chian School Of Business

We hypothesize that social trust, in mitigating contracting incompleteness, may have an important effect on the activeness and effectiveness of delegated portfolio management. Using a complete sample of worldwide open-end mutual funds, we find that trust is positively associated with the activeness of funds and that trust-related active share delivers superior performance (e.g., approximately 2% per year for cross-border investments). Moreover, "trust in the market" and "trust in managers" play important yet different roles for different types of cross-border delegated portfolio management. Our results suggest that trust acts as a fundamental building block for delegated portfolio management.


Applying Coleman’S Boat In Management Research: Opportunities And Challenges In Bridging Macro And Micro Theory, Amanda Cowen, Floor Rink, Ilya R. P. Cuypers, Denis Gregoire, Ingo Weller Feb 2022

Applying Coleman’S Boat In Management Research: Opportunities And Challenges In Bridging Macro And Micro Theory, Amanda Cowen, Floor Rink, Ilya R. P. Cuypers, Denis Gregoire, Ingo Weller

Research Collection Lee Kong Chian School Of Business

Over the years, ongoing conversations in Academy of Management Journal—and the broader management literature—have emphasized the value of research that bridges the macro and micro domains (Hitt, Beamish, Jackson, & Mathieu, 2007; Molloy, Ployhart, & Wright, 2011; Morgeson & Hofmann, 1999; Paruchuri, Perry-Smith, Chattopadhyay, & Shaw, 2018). Calls for cross-boundary work typically argue that bridging these two domains is required to understand and solve the complex management issues that societies face (George, Howard-Grenville, Joshi, & Tihanyi, 2016; House, Rousseau, & Thomas-Hunt, 1995; Kozlowski & Klein, 2000). Responses to the organizational challenges posed by the COVID-19 pandemic, or to societal problems …


Delegated Gender Diversity, Hao Liang, Cara Vansteenkiste Feb 2022

Delegated Gender Diversity, Hao Liang, Cara Vansteenkiste

Research Collection Lee Kong Chian School Of Business

We revisit the value implications of female representation on boards by exploiting the board diversity campaign announcement by Norges Bank Investment Management (NBIM)—the world’s largest sovereign wealth fund. In February 2021, NBIM required its portfolio firms to have at least 30% female directors. Using NBIM’s announcement as a shock to investor expectations about female board representation, we document significantly positive returns for firms with a female director shortfall, concentrated in firms with low institutional ownership. Consistent with an investor demand view of board gender diversity, we find that these firms experienced a greater increase in ownership by socially responsible institutional …


Short Selling Etfs, Frank Weikai Li, Qifei Zhu Feb 2022

Short Selling Etfs, Frank Weikai Li, Qifei Zhu

Research Collection Lee Kong Chian School Of Business

We provide novel evidence that arbitrageurs use exchange-traded funds (ETFs) as an avenue to circumvent short-sale constraints at the stock level. Using a large sample of U.S. equity ETF holdings, we document that shorting activity on ETFs rises with the difficulty of shorting underlying stocks. Stocks heavily shorted via their holding ETFs underperform those that are lightly shorted. The return predictability of ETF shorting is distinct from stock-level shorting measures and is concentrated among stocks that face severe arbitrage constraints. These findings suggest that ETFs allow arbitrageurs to target overpriced stocks that are otherwise difficult to short.


Why, How, And When Divergent Perceptions Become Dysfunctional In Organizations: A Motivated Cognition Perspective, Zhanna Lyubykh, Laurie J. Barclay, Marion Fortin, Michael R. Bashshur, Malika Khakhar Feb 2022

Why, How, And When Divergent Perceptions Become Dysfunctional In Organizations: A Motivated Cognition Perspective, Zhanna Lyubykh, Laurie J. Barclay, Marion Fortin, Michael R. Bashshur, Malika Khakhar

Research Collection Lee Kong Chian School Of Business

Decades of research has demonstrated that people can arrive at starkly different perceptions in the same social situations. Divergent perceptions are not inherently dysfunctional. However, if divergent perceptions are not managed effectively, they can have deleterious effects that can undermine functioning in the workplace. Drawing on a motivated cognition perspective, we outline why divergent perceptions may emerge as well as overview the benefits and drawbacks of divergent perceptions in organizational contexts. Next, we highlight the complexities associated with divergent perceptions in the workplace, including why, how, and when divergent perceptions may become dysfunctional. We also showcase theoretical insights from a …


Introduction To The Business Of Sustainability: An Organizing Framework For Theory, Practice And Impact, Gerard George, Martine R. Haas, Havovi Heerjee Joshi, Anita M. Mcgahan, Paul Tracey Feb 2022

Introduction To The Business Of Sustainability: An Organizing Framework For Theory, Practice And Impact, Gerard George, Martine R. Haas, Havovi Heerjee Joshi, Anita M. Mcgahan, Paul Tracey

Research Collection Lee Kong Chian School Of Business

Human activity needs to become sustainable, and businesses have a massive role to play in it. Important progress has occurred. The Coronavirus pandemic has reinforced the importance of sustainability and resilience. Businesses have become champions of the United Nations’ Sustainable Development Goals (SDGs), both by integrating them into their core activities and by developing strategies and metrics to achieve them. Despite this progress, more must be done to achieve sustainability targets on a timetable that is relevant. While the narratives of businesses are often exciting, their follow-through with implementation remains limited. So too is information on successful practices, conceptual knowledge …


How You Look Is Who You Are: The Appearance Reveals Character Lay Theory Increases Support For Facial Profiling, Shilpa Madan, Krishna Savani, Gita Venkataramani Johar Feb 2022

How You Look Is Who You Are: The Appearance Reveals Character Lay Theory Increases Support For Facial Profiling, Shilpa Madan, Krishna Savani, Gita Venkataramani Johar

Research Collection Lee Kong Chian School Of Business

People are excessively confident that they can judge others’ characteristics from their appearance. This research identifies a novel antecedent of this phenomenon. Ten studies (N = 2,967, 4 preregistered) find that the more people believe that appearance reveals character, the more confident they are in their appearance-based judgments, and therefore, the more they support the use of facial profiling technologies in law enforcement, education, and business. Specifically, people who believe that appearance reveals character support the use of facial profiling in general (Studies 1a and 1b), and even when they themselves are the target of profiling (Studies 1c and 1d). …


Support For Increasing Low-Wage Workers’ Compensation: The Role Of Fixed-Growth Mindsets About Intelligence, Shilpa Madan, Anyi Ma, Neeraj Pandey, Aneeta Rattan, Krishna Savani Jan 2022

Support For Increasing Low-Wage Workers’ Compensation: The Role Of Fixed-Growth Mindsets About Intelligence, Shilpa Madan, Anyi Ma, Neeraj Pandey, Aneeta Rattan, Krishna Savani

Research Collection Lee Kong Chian School Of Business

Approximately 44% of U.S. workers are low-wage workers. Recent years have witnessed a raging debate about whether to raise their minimum wages. Why do some decision-makers support raising wages and others do not? Ten studies (four preregistered) examined people’s beliefs about the malleability of intelligence as a key antecedent. The more U.S. human resource managers (Study 1) and Indian business owners (Study 2) believed that people’s intelligence can grow (i.e., had a growth mindset), the more they supported increasing low-wage workers’ compensation. In key U.S. swing states (Study 3a), and a nationally representative sample (Study 3b), residents with a more …


Social Media Influencers In Crisis: Providing Counsel On Instagram, Pang, A., Debbie Lee, Gindelin Low, Valerie Hum Jan 2022

Social Media Influencers In Crisis: Providing Counsel On Instagram, Pang, A., Debbie Lee, Gindelin Low, Valerie Hum

Research Collection Lee Kong Chian School Of Business

Increasingly, organizations are harnessing social media influencers (SMIs) as third-party advocates or key opinion leaders (KOLs). Consumers view them as knowledgeable sources of information (Tuten & Solomon, 2017). In the United States, the Kardashians are used by a number of organizations to promote their products. Yang (2019) noted that while Western influencers are mostly video bloggers on Instagram or YouTube, Chinese KOLs have multiple channels, including social media platforms WeChat and Weibo, social networking sites Douban or TikTok. Figures from 2016 point to it as a US$8.6 billion industry in China (Yang, 2019).


Augmented Reality In Retail And Its Impact On Sales, Yong Chin Tan, Sandeep R. Chandukala, Srinivas K. Reddy Jan 2022

Augmented Reality In Retail And Its Impact On Sales, Yong Chin Tan, Sandeep R. Chandukala, Srinivas K. Reddy

Research Collection Lee Kong Chian School Of Business

The rise of Augmented Reality (AR) technology presents marketers with promising opportunities to engage customers and transform their brand experience. While firms are keen to invest in AR, research documenting its tangible impact in real-world contexts is sparse. In this article, the authors outline four broad uses of the technology in retail settings. Next, they focus specifically on the use of AR to facilitate product evaluation prior to purchase, and empirically investigate its impact on sales in online retail. Using data obtained from an international cosmetics retailer, they find that AR usage on the retailer’s mobile app is associated with …


What Does Homophily Do? A Review Of The Consequences Of Homophily, Gokhan Ertug, Julia Brennecke, Balaza Kovacs, Tengjian Zou Jan 2022

What Does Homophily Do? A Review Of The Consequences Of Homophily, Gokhan Ertug, Julia Brennecke, Balaza Kovacs, Tengjian Zou

Research Collection Lee Kong Chian School Of Business

Understanding the consequences of homophily, which is among the most widely observed social phenomena, is important, with implications for management theory and practice. Therefore, we review management research on the consequences of homophily. As the consequences of homophily have been studied at the individual, dyad, team, organizational, and macro levels, we structure our review accordingly. We highlight findings that are consistent and contradictory, as well as those that point to boundary conditions or moderators. In conducting our review, we also derive implications for management research from insights gained by research in other disciplines on this topic. We raise specific issues …


Outsourcing Climate Change, Rui Dai, Rui Duan, Hao Liang, Lilian Ng Jan 2022

Outsourcing Climate Change, Rui Dai, Rui Duan, Hao Liang, Lilian Ng

Research Collection Lee Kong Chian School Of Business

This paper examines whether and how firms combat climate change. Our study provides robust evidence that firms outsource part of their carbon emissions to foreign suppliers and shows how internal and external stakeholders significantly shape firms' environmental policies. Furthermore, firms tend to seek a foreign supplier and decrease their emission abatement efforts as pressure to reduce domestic emissions intensifies. These firms are also less incentivized to develop green technologies. Finally, we find that outsourcing emissions has real and economic consequences, with investors demanding a higher carbon premium for their exposures to carbon risks associated with increased outsourced emissions.


Killing The Cat? A Review Of Curiosity At Work, Filip Lievens, Spencer H. Harrison, Patrick Mussel, Jordan A. Litman Jan 2022

Killing The Cat? A Review Of Curiosity At Work, Filip Lievens, Spencer H. Harrison, Patrick Mussel, Jordan A. Litman

Research Collection Lee Kong Chian School Of Business

This paper focuses on the emergent importance of curiosity at work for individuals and organizations by reviewing management research on curiosity at work. We start by leveraging prior reviews on early and contemporary foundations of the curiosity construct in the larger psychological literature, with a focus on definitional clarity, dimensionality, and differences with other constructs in its nomological network. Next, we review different streams of management research on curiosity at work (i.e., broad generative and nongenerative effects, curiosity as a catalyst for personal action, curiosity as a catalyst for interpersonal action, curiosity as a catalyst for leadership, curiosity as an …


Concept Links And Return Momentum, Qianqian Du, Dawei Liang, Zilin Chen, Jun Tu Jan 2022

Concept Links And Return Momentum, Qianqian Du, Dawei Liang, Zilin Chen, Jun Tu

Research Collection Lee Kong Chian School Of Business

Unlike traditional asset categories (e.g., industry classifications) that are generally defined clearly, some groups of stocks are tied to certain loosely defined “concepts” (e.g., e-commerce). When investors find it difficult to analyze ambiguous concept-oriented information, information diffuses slowly, creating “concept momentum”. Based on unique concept data in the Chinese stock market, this study constructs a concept-momentum strategy that involves buying stocks from past winning concepts and selling stocks from past losing concepts, which can generate pronounced abnormal returns. Neither risk factors, firm-level momentum, nor industry-level momentum can explain concept momentum. Furthermore, we find that both the underreaction and cross-stock lead-lag …


Capacity Management In Agricultural Commodity Processing, Onur Boyabatli, Jason (Quang) Dang Nguyen Jan 2022

Capacity Management In Agricultural Commodity Processing, Onur Boyabatli, Jason (Quang) Dang Nguyen

Research Collection Lee Kong Chian School Of Business

This chapter examines the capacity investment decisions of an agricultural processing firm that produces a commodity output and a byproduct using a commodity input. We model the firm’s problem as a finite-horizon stochastic dynamic program where the firm makes one-time input processing capacity and output storage capacity investment decisions—in addition to periodic processing and inventory decisions—when facing uncertainty in both input and output spot prices as well as output yield. We characterize the optimal capacity investment portfolio in closed form. Using a model calibration based on the palm industry, we compare the performance of the optimal investment policy against capacity …


The Catholic Church Abuse Scandal In Ireland: Two Steps Forward, One Step Back By Pope Francis?, Augustine Pang, Eada Hogan, Igor Andrasevic Jan 2022

The Catholic Church Abuse Scandal In Ireland: Two Steps Forward, One Step Back By Pope Francis?, Augustine Pang, Eada Hogan, Igor Andrasevic

Research Collection Lee Kong Chian School Of Business

Purpose: Ireland is viewed as the shining base for Catholicism. That image is shattered as survivors revealed the abuse in the Magdalene Laundries and Mother and Baby Homes, and sexual abuse by priests. This study aims to examine image repair efforts by the Pope during his August 2018 visit. Design/methodology/approach: Examined against the Letter of His Holiness released days earlier, this study evaluates all the Pope's speeches during his visit to Ireland using the image repair theory (Benoit and Pang, 2008) as its theoretical lens. Findings: Pope Francis used the evasion of responsibility strategy to address the Magdalene Laundries and …


Future-Proofing Students In Higher Education With Unmanned Aerial Vehicles Technology: A Knowledge Management Case Study, Thomas Menkhoff, Siew Ning Kan, Eugene K. B. Tan, Shaohui Foong Jan 2022

Future-Proofing Students In Higher Education With Unmanned Aerial Vehicles Technology: A Knowledge Management Case Study, Thomas Menkhoff, Siew Ning Kan, Eugene K. B. Tan, Shaohui Foong

Research Collection Lee Kong Chian School Of Business

In this paper we report experiences in implementing a new course ‘Understanding Drone & Robotics Technology – History, Usage, Ethics & Legal Issues’ at the Singapore Management University framed as a strategic knowledge management (KM) initiative in an institution of higher learning aimed at capturing, sharing and creating new knowledge about disruptive technologies such as unmanned aerial vehicles. We posit the new course as a knowledge innovation initiative (similar to a KM-enabled business case in a corporate setting) in support of the university’s mission and vision so as to deliver new value to students and to stay ahead of the …


Seeking Stability: Consumer Motivations For Communal Nostalgia, Minju Han, George E. Newman Jan 2022

Seeking Stability: Consumer Motivations For Communal Nostalgia, Minju Han, George E. Newman

Research Collection Lee Kong Chian School Of Business

Existing research has examined why consumers are drawn to things from their past (personal nostalgia). However, little empirical work has examined why consumers prefer products that were never a part of their personal history (communal nostalgia). For example, a consumer may purchase vinyl records even though she grew up listening to mp3 files. Here, we find that one reason why consumers may be drawn to communal nostalgia is that it can provide a sense of social stability. Drawing on System Justification Theory (Jost & Banaji, British Journal of Social Psychology, 33, 1994 and 1-27), we demonstrate that perceived threats to …


How Does Firm Scope Depend On Customer Switching Costs? Evidence From Mobile Telecommunications Markets, Niloofar Abolfathi, Simone Santamaria, Charles Williams Jan 2022

How Does Firm Scope Depend On Customer Switching Costs? Evidence From Mobile Telecommunications Markets, Niloofar Abolfathi, Simone Santamaria, Charles Williams

Research Collection Lee Kong Chian School Of Business

This paper examines the relative advantages of single-product and multiproduct firms following changes in customer switching costs. Whereas a single-product firm can closely tailor offerings to customers' needs, a multiproduct firm can create value for customers in the form of flexibility, allowing them to change between product varieties as preferences evolve without needing to switch providers. We argue that this value-creation mechanism is more effective when customers face high switching costs and explore this prediction in the mobile telecommunications sector, using an exogenous policy change (mobile number portability) that suddenly decreases customer switching costs. Our results reveal that when customer …


Dark Social Influencer Engagement In Brand Communication, Jason Shi-Yang Lim, Claresta Si Ya Yeo, Weihui Leow, Xian Hui Ng, Augustine Pang Jan 2022

Dark Social Influencer Engagement In Brand Communication, Jason Shi-Yang Lim, Claresta Si Ya Yeo, Weihui Leow, Xian Hui Ng, Augustine Pang

Research Collection Lee Kong Chian School Of Business

Increasingly, consumers are seeking immediate and personalized communication with businesses (Facebook, 2018) and organizations are expected to engage customers in a two-way dialogue. Engagement encapsulates “high relevance of brands to consumers and the development of an emotional connection between consumers and brands” (Rappaport, 2007, p. 138). Online engagement connotes commitment to a relationship, “personified by the website or other computer-mediated entities designed to communicate brand value” (Mollen & Wilson, 2010, p. 923). To engage consumers, businesses are turning to social media influencers (SMIs), who have their own social networks online (Khamis et al., 2016). Growing concerns over privacy and control …


An Acccidental Academic: Reflections On An Exciting Journey, Karempudi Srinivas Reddy Jan 2022

An Acccidental Academic: Reflections On An Exciting Journey, Karempudi Srinivas Reddy

Research Collection Lee Kong Chian School Of Business

My entry into academia was an accident—but what an exciting and rewarding experience it has been. I had applied for the MBA program at Columbia University Business School, but it did not admit me as they said that I already had an MBA degree from India. Instead, they admitted me into the Ph.D. program. To this day, I wonder why they gave me admission. My days as doctoral student were challenging but the most exciting days of life. My fellow Ph.D. students in Marketing, Terry Elrod, Dave Schmittlein and Chezy Ofir, along with those in other areas, Vikram Pandit, Brett …


The Influence Of International Oil Price Fluctuation On The Exchange Rate Of Countries Along The “Belt And Road”, Yijing Wang, Xueqing Geng, Kun Guo Jan 2022

The Influence Of International Oil Price Fluctuation On The Exchange Rate Of Countries Along The “Belt And Road”, Yijing Wang, Xueqing Geng, Kun Guo

Research Collection Lee Kong Chian School Of Business

In recent years, the international crude oil price has become increasingly volatile. It influences the exchange rate changes of relevant countries through economic growth, price level, international balance of payments, and other channels. Such exchange rate fluctuations have caused certain risks for the development of China’s “Belt and Road” Initiative. This article analyzes the impact of oil price changes on the exchange rates of countries. Because the fluctuation of oil prices and exchange rates has shown the characteristics of multiple time scales, this study used the empirical mode decomposition (EMD) method to obtain the long-cycle and short-cycle sequences of oil …


Ideological Boundaries Of Status Advantages: Legislative Effectiveness In The House Of Representatives In The United States Congress, Francois Collet, Gianluca Carnabuci, Gokhan Ertug, Tengjian Zou Jan 2022

Ideological Boundaries Of Status Advantages: Legislative Effectiveness In The House Of Representatives In The United States Congress, Francois Collet, Gianluca Carnabuci, Gokhan Ertug, Tengjian Zou

Research Collection Lee Kong Chian School Of Business

Prior research assumes that high-status actors have greater organizational influence than lower-status ones, that is, it is easier for the former to get their ideas and initiatives adopted by the organization than it is for the latter. Drawing from the literature on ideology, we posit that the status-influence link is contingent on actors’ ideological position. Specifically, status confers organizational influence to the degree that the focal actor is ideologically mainstream. The more an actor’s ideology deviates from the mainstream the less will her status translate into increased organizational influence. We find support for this hypothesis using data on the work …


The Role Of Emotions As Mechanisms Of Mid-Test Warning Messages During Personality Testing: A Field Experiment, Hairong Li, Jinyan Fan, Guoxiang Zhao, Minghui Wang, Lu Zheng, Hui Meng, Qingxiong Weng, Yanping Liu, Filip Lievens Jan 2022

The Role Of Emotions As Mechanisms Of Mid-Test Warning Messages During Personality Testing: A Field Experiment, Hairong Li, Jinyan Fan, Guoxiang Zhao, Minghui Wang, Lu Zheng, Hui Meng, Qingxiong Weng, Yanping Liu, Filip Lievens

Research Collection Lee Kong Chian School Of Business

This study focuses on the role of emotions in personnel selection and faking research. In particular, we posit that emotions are likely to be activated when applicants receive warning messages from organizations. Drawing on Nabi (Nabi, Communication Theory, 9, 1999, 292) cognitive-functional model of discrete negative emotions, we propose and empirically test the effects of three discrete negative emotions (guilt, fear, and anger) triggered by a warning message during a personality test on personality score accuracy and perceived test fairness. Participants in this within-subjects field experiment were 1,447 applicants for graduate school at a large public university in China. They …


Managing Stochastic Bucket Brigades On Discrete Work Stations, Peng Wang, Kai Pan, Zhenzhen Yan, Yun Fong Lim Jan 2022

Managing Stochastic Bucket Brigades On Discrete Work Stations, Peng Wang, Kai Pan, Zhenzhen Yan, Yun Fong Lim

Research Collection Lee Kong Chian School Of Business

Bucket brigades are notably used to coordinate workers in production systems. We study a J-station, I-worker bucket brigade system. The time duration for each worker to serve a job at a station is exponentially distributed with a rate that depends on the station's expected work content and the worker's work speed. Our goal is to maximize the system's productivity or to minimize its inter-completion time variability. We analytically derive the throughput and the coefficient of variation (CV) of the inter-completion time. We study the system under two cases. (i) If the work speeds depend only on the workers, the throughput …


Smart Heuristics For Individuals, Teams, And Organizations, Gerd Gigerenzer, Jochen Reb, Shenghua Luan Jan 2022

Smart Heuristics For Individuals, Teams, And Organizations, Gerd Gigerenzer, Jochen Reb, Shenghua Luan

Research Collection Lee Kong Chian School Of Business

Heuristics are fast, frugal, and accurate strategies that enable rather than limit decision making under uncertainty. Uncertainty, as opposed to calculable risk, is characteristic of most organizational contexts. We review existing research and offer a descriptive and prescriptive theoretical framework to integrate the current patchwork of heuristics scattered across various areas of organizational studies. Research on the adaptive toolbox is descriptive, identifying the repertoire of heuristics on which individuals, teams, and organizations rely. Research on ecological rationality is prescriptive, specifying the conditions under which a given heuristic performs well, that is, when it is smart. Our review finds a relatively …