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Articles 61 - 90 of 3153
Full-Text Articles in Business
National Halo And Culture Mixing: U.S. Consumer Acceptance Of Korean Cultivated Meat Made With Seaweed Components, Mark Chong, Angela K. Y. Leung, Tricia Marjorie Fernandez
National Halo And Culture Mixing: U.S. Consumer Acceptance Of Korean Cultivated Meat Made With Seaweed Components, Mark Chong, Angela K. Y. Leung, Tricia Marjorie Fernandez
Research Collection Lee Kong Chian School Of Business
The purpose of this qualitative study was to investigate U.S. consumers’ perception and acceptance of a “culturally mixed” product – i.e., cultivated meat (beef) made with Korean seaweed components – a product that involves the blending of a foreign cultural element (Korean seaweed) with a local cultural element (cultivated beef) to create a mixed cultural representation. Subsequently, it aimed to assess if the product’s country of origin (i.e., South Korea) would influence consumer perception and acceptance. Online in-depth interviews were conducted with 20 U.S. consumers recruited through two market research companies. The interview transcripts were analyzed by two trained coders …
A Transaction Cost Perspective On Option Anomalies, James O'Donovan, Gloria Yang Yu
A Transaction Cost Perspective On Option Anomalies, James O'Donovan, Gloria Yang Yu
Research Collection Lee Kong Chian School Of Business
We examine the impact of transaction costs on the profitability of long-short portfolios of delta-hedged option returns. Of the 24 portfolio sort variables studied, 17 generate positive and significant gross returns, but none remain profitable after accounting for trading costs. We propose a cost-mitigation approach that restores profitability to 7 key portfolios. Furthermore, we demonstrate that the choice of delta-hedging frequency has a first-order impact on transaction costs. Our findings underscore the central role of implementation costs in shaping the investment opportunity set in equity–option markets, highlighting the need to account for transaction costs when evaluating option-based strategies.
The Token-Effort Effect: Trivial Redemption Effort Increases Price Promotions Effectiveness, Kuangjie Zhang, Thomas Allard, Nidhi Agrawal, Rajesh Bagchi
The Token-Effort Effect: Trivial Redemption Effort Increases Price Promotions Effectiveness, Kuangjie Zhang, Thomas Allard, Nidhi Agrawal, Rajesh Bagchi
Research Collection Lee Kong Chian School Of Business
This research documents how introducing redemption tasks requiring a token (i.e., trivial) amount of effort—for instance, by asking the consumer to enter a promo code or solve a CAPTCHA to receive a discount—increases price promotion effectiveness compared with equivalent straight discounts (i.e., applied automatically). Eight studies (including two field experiments) and three additional Web Appendix studies provide robust evidence for the beneficial effect of token-effort requirements on redemption rates. This effect occurs because the easy-to-attain redemption task induces a high perceived return on effort. Thus, this effect only occurs when the redemption task requires token-type effort but not when it …
Designing Payment Models For The Poor, Bhavani Shanker Uppari, Sasa Zorc
Designing Payment Models For The Poor, Bhavani Shanker Uppari, Sasa Zorc
Research Collection Lee Kong Chian School Of Business
Millions of people in poverty lack access to basic services such as energy, clean water, and cooking gas. Private firms are increasingly delivering these services—for example, by offering solar home systems or clean cooking packages with remote lockout capabilities—through pay-as-you-go (PAYGo) contracts that give consumers flexibility over payment timing and amount to match their erratic cash flows. Because firms cannot observe consumer liquidity, however, consumers may misuse this flexibility and prioritize other needs over repayment. We study how to design contracts that preserve flexibility while creating incentives for timely repayment using an optimal contracting approach. The optimal contract summarizes each …
Riding The Waves Of Power: Power Fluctuation, Cognitive Energy, And Goal Pursuit, Hae-Lueng Rose Kim, Trevor A. Foulk, Michael Schaerer, Jake Gale, Eric A. Anicich
Riding The Waves Of Power: Power Fluctuation, Cognitive Energy, And Goal Pursuit, Hae-Lueng Rose Kim, Trevor A. Foulk, Michael Schaerer, Jake Gale, Eric A. Anicich
Research Collection Lee Kong Chian School Of Business
A central finding in the power literature is that experiencing elevated power facilitates employees’ goal-relevant cognitions and behaviors. In this work, we suggest that the relationship between power and goal pursuit is more complex than previously assumed. Specifically, we examine how experiencing power fluctuation—alternating states of high and low power during the workday—can uniquely promote employees’ goal-relevant behaviors beyond the effect of static power. Integrating insights from the Dynamic Equilibrium Model of Organizing (DEMO) and the Model of Proactive Motivation (MPM), our work demonstrates that power fluctuation can facilitate employees’ cognitive energy, in a way that enhances their goal-relevant cognitions …
Over-Reliance On Aesthetics? The Appearance-Reveals-Character Lay Theory Increases Consumers’ Devaluation Of Unattractive Produce, Shilpa Madan, Krishna Savani, Gita Venkataramani Johar
Over-Reliance On Aesthetics? The Appearance-Reveals-Character Lay Theory Increases Consumers’ Devaluation Of Unattractive Produce, Shilpa Madan, Krishna Savani, Gita Venkataramani Johar
Research Collection Lee Kong Chian School Of Business
Approximately 40% of all produce is rejected because it appears unattractive, contributing significantly to food waste. Whereas previous research attributes this devaluation to the ugly-is-bad effect, this research identifies an important moderator of consumers’ reliance on this heuristic: the lay theory that a person’s outer appearance reveals their inner character. Specifically, consumers who believe that people’s appearances reveal their character are less willing to accept unattractive (vs. attractive) produce because they generalize their lay theory to produce and are, thus, more likely to infer that unattractive produce is of lower quality. Consumers who do not hold the lay theory do …
The Persistence Of Homophobia In Men’S Friendship Norms, Sherrie Y. Xue, Stephanie C. Lin, Christilene Du Plessis
The Persistence Of Homophobia In Men’S Friendship Norms, Sherrie Y. Xue, Stephanie C. Lin, Christilene Du Plessis
Research Collection Lee Kong Chian School Of Business
Across five studies and one supplementary study (five preregistered; N = 3,215 adults), we found that men, more than women, avoided shared experiences (e.g., going to the movies, sharing food) with individuals of the same gender. Furthermore, persistent societal expectations that men should be unambiguously heterosexual underpinned this pattern: Men felt more apprehensive about signaling same-gender romance in platonic relationships than women did. In turn, romantic prototypicality drove the pattern of men (more than women) avoiding shared activities, above and beyond differences in how hedonic, enjoyable, and feminine the activities were; our findings further suggested that men’s reluctance to share …
One Size Does Not Fit All: Contract Design In Fintech Lending, Jianfeng Hu, Changcheng Song, Gloria Yang Yu
One Size Does Not Fit All: Contract Design In Fintech Lending, Jianfeng Hu, Changcheng Song, Gloria Yang Yu
Research Collection Lee Kong Chian School Of Business
Many fintech lenders rely on standardized contract terms to support scale and operational speed. This paper examines whether modest tailoring of loan contracts can improve credit market outcomes. We conduct a randomized field experiment with a large fintech lender that varies loan due dates relative to borrowers' salary paydays. Synchronizing repayment schedules with income cycles reduces delinquency by 29.1% in the experiment and 15.7% in the administrative data. Effects concentrate among liquidity-constrained borrowers: young, low-income, and low-creditlimit individuals. Tailored repayment timing generates substantial economic benefits: borrowers save on overdue penalties, lenders accelerate cash flows, and improved repayment increases future credit …
Incident-Driven Esg Engagements, Hao Liang, Yongheng Sun, T. Mandy Tham
Incident-Driven Esg Engagements, Hao Liang, Yongheng Sun, T. Mandy Tham
Research Collection Lee Kong Chian School Of Business
We examine when and why institutional investors engage portfolio firms on ESG issues using proprietary engagement records from a European asset manager. Salient negative incidents emerge as a powerful trigger—second only to firm size—because they heighten reputational accountability for investors and reveal new information about hidden ESG weaknesses, particularly at firms perceived as ESG leaders. Monitoring also extends along the supply chain: incidents at key suppliers prompt investor engagement with focal firms. Finally, engagement is associated with higher firm value, stronger ESG performance, and increased cash flows. Together, the findings illuminate the drivers and mechanisms of ESG engagement and underscore …
Growing Up Under Mao And Deng: On Politician Ideology And Corporate Policies, Hao Liang, Rong Wang, Haikun Zhu
Growing Up Under Mao And Deng: On Politician Ideology And Corporate Policies, Hao Liang, Rong Wang, Haikun Zhu
Research Collection Lee Kong Chian School Of Business
We provide firm-level evidence on how politicians’ ideologies shape economic outcomes, using a unique setting of ideological discontinuity in China, transitioning from Maoism to Dengism around 1978. We find that ideological exposure during a politician’s early adulthood has a lasting impact on contemporary firm policies in their city. Firms governed by “Maoist mayors” show greater stakeholder spending, lower pay inequality, and less internationalization compared with those governed by “Dengist mayors.” Further evidence suggests that politicians’ ideologies influence corporate behaviors through nonpolicy channels, and these results cannot be fully explained by selection bias, endogenous matching, or the age of the mayor.
Exploratory Innovation: A New Perspective On Family Firms' Under-Diversification Puzzle, Po-Hsuan Hsu, Sterling Huang, Massimo Massa, Yaru Qian, Hong Zhang
Exploratory Innovation: A New Perspective On Family Firms' Under-Diversification Puzzle, Po-Hsuan Hsu, Sterling Huang, Massimo Massa, Yaru Qian, Hong Zhang
Research Collection Lee Kong Chian School Of Business
We propose a new perspective on family firms’ puzzling under-diversification in product spaces: these firms first need to succeed in exploratory innovation so they may diversify into new product markets. We construct a large database of family ownership and patent records of U.S. public firms, and show that family firms produce more exploratory patents than others, a relation that is stronger among under-diversified family firms. In addition, we find that such innovation indeed helps family firms diversify business risks. A causal interpretation of our result is supported by (i) using the property division standard in state-level divorce laws as an …
The Power And Peril Of First Offers In Negotiations: A Conceptual, Meta-Analytic, And Experimental Synthesis, H.M. Petrowsky, L. Boecker, Y.A. Escher, M.L. Frech, M. Friese, A.D. Galinsky, B. Gunia, A.J. Lee, Michael Schaerer, M. Schweinsberg, M. Soliman, R. Swaab, E.S. Troll, M. Weber, D.D. Loschelder
The Power And Peril Of First Offers In Negotiations: A Conceptual, Meta-Analytic, And Experimental Synthesis, H.M. Petrowsky, L. Boecker, Y.A. Escher, M.L. Frech, M. Friese, A.D. Galinsky, B. Gunia, A.J. Lee, Michael Schaerer, M. Schweinsberg, M. Soliman, R. Swaab, E.S. Troll, M. Weber, D.D. Loschelder
Research Collection Lee Kong Chian School Of Business
Is it advantageous to make the first offer and to do so ambitiously? Although initial studies suggested clear advantages across cultures and contexts, recent findings have challenged the robustness of this first-mover advantage. A preregistered meta-analysis of 374 effects from 90 studies (Study 1; N = 16,334) revealed three beneficial effects of making the first offer: (a) a general first-mover advantage (g = 0.42, m = 80), (b) a positive correlation between first-offer magnitude and agreement value (r = 0.62, g = 1.56, m = 53), and (c) an advantage of ambitious (vs. moderate) first offers on agreement value (g …
Internet Of Things In Intralogistics: Applications And Emerging Research, Rene De Koster, Debjit Roy, Yun Fong Lim, Subodha Kumar
Internet Of Things In Intralogistics: Applications And Emerging Research, Rene De Koster, Debjit Roy, Yun Fong Lim, Subodha Kumar
Research Collection Lee Kong Chian School Of Business
Managing the performance of intralogistics operations, that is logistics operations within facilities such as manufacturing plants, order fulfillment warehouses, ports and terminals, and retail stores, is critical in fulfilling customer expectations. Traditional decision-making for intralogistics operations is based on historical data, typically collected over long-range intervals with significant processing delays. However, nowadays, Internet of Things (IoT) applications are used to gather detailed real-time data to make dynamic decisions. These new data sources provide challenges and opportunities for operations management. We provide an overview of prominent IoT technologies in four domains: manufacturing, warehousing, ports and terminals, retail, and other emerging areas. …
Accelerating Expertise In Professional Decision Making: The Effects Of A Simple Rules Training, Gavin Raj Maistry, Jochen Reb, Shenghua Luan, Thomas Menkhoff
Accelerating Expertise In Professional Decision Making: The Effects Of A Simple Rules Training, Gavin Raj Maistry, Jochen Reb, Shenghua Luan, Thomas Menkhoff
Research Collection Lee Kong Chian School Of Business
Traditional approaches to professional decision making hold analytical expertise as superior to qualitative judgment. However, this view is increasingly challenged by work on heuristics as effective decision strategies under conditions of uncertainty. Building on this insight, we developed a script-based simple rules training program in the context of insurance underwriting. We then conducted a quasi-experimental intervention study with 220 participants of varying levels of experience. The study compared performance in the training condition with that in an active control condition on a work sample test given before and after the intervention. The results show that training in simple rules could …
Foreign Director Exit In The Midst Of Deteriorating Bilateral Political Relations, Xiaocong Tian, Yuehua Xu, Daphne W. Yiu
Foreign Director Exit In The Midst Of Deteriorating Bilateral Political Relations, Xiaocong Tian, Yuehua Xu, Daphne W. Yiu
Research Collection Lee Kong Chian School Of Business
Amid global geopolitical realism pushing for a race of hegemonic rivalry nowadays, an outflow of global human talents is a pressing organizational concern. Our study draws attention to the underexamined phenomenon of the exit of foreign directors from their host countries during geopolitical tensions. Theorizing from a sensemaking logic, we posit that the deterioration of bilateral political relations serves as an unexpected event that activates foreign directors’ schemas for dual identity conflict, propelling them to react behaviorally to such identity threats by exiting the board in the host country. In addition, we further posit that the sensemaking process is contingent …
Technology Discontinuance: A Systematic Literature Review And Research Agenda, Birgit Altrichter, Sabine Benoit
Technology Discontinuance: A Systematic Literature Review And Research Agenda, Birgit Altrichter, Sabine Benoit
Research Collection Lee Kong Chian School Of Business
Technology discontinuance by users who quit digital services such as social media or lose interest in their devices after a few weeks is a common phenomenon. Yet it has received little research attention; the few studies that address it are scattered across disciplines. Research into customer churn is more prevalent, but it implies switching providers rather than halting usage altogether. By moving beyond discipline-based knowledge boundaries and conducting a systematic literature review, the current article proposes a technology discontinuance framework, which details seven technology discontinuance types (overuse, overload, proficiency, disenchantment, social, circumstantial, and solution) and their drivers. For example, guilt …
Managing The Personalization Paradox: Lessons From Spotify’S Ai Dj, Anirban. Mukherjee, Hannah H. Chang, Jonathan Wibowo
Managing The Personalization Paradox: Lessons From Spotify’S Ai Dj, Anirban. Mukherjee, Hannah H. Chang, Jonathan Wibowo
Research Collection Lee Kong Chian School Of Business
This case study uses Spotify’s AI DJ to examine the “personalization paradox,” where product features designed to deepen user connection can instead cause alienation. An analysis of over 1,400 user comments identifies three core frictions: a perceived loss of user agency, mismanaged expectations for the human-like AI, and a scalability bottleneck that led to repetitive content. Students are placed in the role of a product manager tasked with developing a prioritized roadmap to address these issues, forcing them to grapple with the critical trade-offs between technological capability and user psychology.
How Behavioral Science Can Improve The Return On Ai Investments, David De Cremer, Shane Schweitzer, Jack Mcguire, Devesh Narayanan
How Behavioral Science Can Improve The Return On Ai Investments, David De Cremer, Shane Schweitzer, Jack Mcguire, Devesh Narayanan
Research Collection Lee Kong Chian School Of Business
Many AI projects fail because leaders treat adoption as a tech purchase instead of a behavioral change problem. People resist tools that disrupt routines, overreact to visible AI errors, and prefer familiar human judgment. As a result, even good systems fail to gain purchase. Leaders can address this problem by applying “Behavioral Human-Centered AI” across the AI adoption cycle. In the design phrase, companies should co-design with diverse users, add purposeful friction where it improves scrutiny, require beta tests with subgroup results and behavioral input. During adoption, they should frame AI as an augmenter, disclose limits and safeguards, use explainability …
Marching To The Beat: The Role Of Complementor Alignment In The Architectural Evolution Of Ecosystems, Pengxiang Zhang, Liang Chen, Yang Yang
Marching To The Beat: The Role Of Complementor Alignment In The Architectural Evolution Of Ecosystems, Pengxiang Zhang, Liang Chen, Yang Yang
Research Collection Lee Kong Chian School Of Business
The evolution of innovation ecosystems hinges on the effective coordination between ecosystem leaders and complementors. While ecosystem-sponsored architectural innovations create new technological opportunities for complementors, they may unintentionally disrupt the performance of complementor products that were originally developed based on legacy architectural designs. This study provides empirical evidence of these disruptive effects and explores how complementors’ alignment with the ecosystem leader mitigates such challenges. Focusing on Apple’s release of Core ML—a proprietary artificial intelligence module—in its mobile ecosystem, we employ a difference-in-differences design to investigate variations in complementor performance after adopting this ecosystem-sponsored architectural innovation. Our findings reveal that complementors’ …
Performances In Last-Mile Deliveries Involving Cyclic Services Of Shuttles And Cargo Bikes, Byung Kwon Lee, Young Joo Kim, Joyce M. W. Low
Performances In Last-Mile Deliveries Involving Cyclic Services Of Shuttles And Cargo Bikes, Byung Kwon Lee, Young Joo Kim, Joyce M. W. Low
Research Collection Lee Kong Chian School Of Business
This study introduces a novel approximation model that integrates the ideologies of order statistics and max-plus algebra in representing the collection and distribution service schemes of a last-mile delivery system. Under the respective schemes, electric cargo bikes (e-bikes) perform the last-mile delivery near a microhub with shuttles collecting packages from multiple local logistics hubs (or local hubs, for short) and/or distributing packages to multiple microhubs. The framework is designed to estimate the cyclic capacity under varying cargo carrying capacities of the e-bikes and service network configurations. Real-world data, such as the geographic conditions of the streets around the microhubs in …
Personality And Personnel Selection: Going Beyond Self-Reports And Linear Relationships, Filip Lievens, Jinyan Fan, Jingyi Li
Personality And Personnel Selection: Going Beyond Self-Reports And Linear Relationships, Filip Lievens, Jinyan Fan, Jingyi Li
Research Collection Lee Kong Chian School Of Business
The study of personality in selection and assessment represents one of the most longstanding and voluminous literature in industrial and organizational psychology. In this paper, we review two important recent research streams. First, we review studies on alternatives to self-report personality inventories, namely the use of Situational Judgment Tests (SJTs), assessment center (AC) exercises, and a multi-rater framework. Second, we review studies that go beyond linear relationships between personality and job performance. Generally, our review reveals that these alternative approaches show promises in better understanding personality and how personality relates to performance.
Organization Research As An Applied Science: Lessons From Fields That Shape Practice And Policy, Stephen X. Zhang, Gokhan Ertug
Organization Research As An Applied Science: Lessons From Fields That Shape Practice And Policy, Stephen X. Zhang, Gokhan Ertug
Research Collection Lee Kong Chian School Of Business
As an applied science, our field aims to improve organizational effectiveness and solve practical problems (Hideg, DeCelles & Tihanyi, 2020; Pfeffer & Fong. 2002; Pillutla & Thau, 2013). However, despite the increasing sophistication in methods and greater emphasis on theory in recent decades, we have not made commensurate strides in relevance and impact. As we see it, the heart of this challenge is the culture in our field that demands novel theoretical advancement from every paper (Aguinis & Cronin, 2022), which may inadvertently constrain our ability to address pressing organizational challenges. Previous appeals to enhance our impact as an applied …
Converting Counterfeiters In Emerging Markets To Authorized Suppliers: A New Anti-Counterfeiting Measure, Liling Lu, Xin Fang, Sarah Yini Gao, Burak Kazaz
Converting Counterfeiters In Emerging Markets To Authorized Suppliers: A New Anti-Counterfeiting Measure, Liling Lu, Xin Fang, Sarah Yini Gao, Burak Kazaz
Research Collection Lee Kong Chian School Of Business
With more products being infringed by counterfeits, anti-counterfeiting measures, such as law enforcement and consumer education, have commonly been adopted in emerging markets. In recent years, “super fakes,” i.e., counterfeits of high quality, have become popular. Super fake manufacturers’ capability to produce high-quality products inspires a new anti-counterfeiting measure: converting counterfeiters to authorized suppliers. To study the effectiveness of this anticounterfeiting measure, our paper employs a game-theoretic model to examine the interactions between a brand-name firm with its home supplier, and a counterfeiter who produces high-quality counterfeits and can be potentially converted to an authorized overseas supplier. Our results show …
Esg News, Future Cash Flows, And Firm Value, Francois Derrien, Philipp Krüger, Augustin Landier, Tianhao Yao
Esg News, Future Cash Flows, And Firm Value, Francois Derrien, Philipp Krüger, Augustin Landier, Tianhao Yao
Research Collection Lee Kong Chian School Of Business
We investigate the expected consequences of negative environmental, social, and governance (ESG) news on firms' future profits. After learning about negative ESG news, analysts significantly downgrade their forecasts at short and longer horizons. Negative ESG news affects forecasts more strongly at longer horizons than other types of negative corporate news. The negative revisions of earnings forecasts following negative ESG news largely reflect expectations of lower future sales, rather than higher future costs. Quantitatively, forecast revisions can explain most of the negative impacts of ESG news on firm value. Analysts are correct to revise forecasts downward following negative ESG news.
Optimizing Initial Screening For Colorectal Cancer Detection With Adherence Behavior, Sarah Yini Gao, Yan He, Ruijie Zhang, Zhichao Zheng, Shao Wei Lam Lam, Emile Tan
Optimizing Initial Screening For Colorectal Cancer Detection With Adherence Behavior, Sarah Yini Gao, Yan He, Ruijie Zhang, Zhichao Zheng, Shao Wei Lam Lam, Emile Tan
Research Collection Lee Kong Chian School Of Business
Background: Two-stage screening programs are widely adopted for early colorectal cancer (CRC) detection, where individuals receiving positive outcomes in the first-stage (initial) test are recommended to undergo a second-stage test (colonoscopy) for further diagnosis. Methods: We study the initial test design—the selection of cutoffs for reporting test outcomes—to balance the trade-off between screening effectiveness (i.e., CRC and polyp detection) and efficiency (i.e., colonoscopy costs), incorporating the fact that not all individuals follow up with a colonoscopy after receiving positive outcomes. We integrate the Bayesian persuasion framework with information avoidance to model this problem and apply it to Singapore's CRC screening …
Temporal Patterns Of New Product Introductions And Ipo Value: The Importance Of Recency, Dispersion, And Asymmetry, Suyun Mah, Rebecca J. Slotegraaf, Girish Mallapragada
Temporal Patterns Of New Product Introductions And Ipo Value: The Importance Of Recency, Dispersion, And Asymmetry, Suyun Mah, Rebecca J. Slotegraaf, Girish Mallapragada
Research Collection Lee Kong Chian School Of Business
A firm’s innovation activity is often judged by the number and type of new products it launches, but when these products are introduced may be equally important, especially before going public. This research investigates how the temporal pattern of new product introductions (NPIs) influences a firm’s initial public offering (IPO) value. The analysis uses data from 298 firms that went public between 2006 and 2023, and focuses on three patterns of timing: recency (how recently the latest product was launched before the IPO), dispersion (the degree to which NPIs before the IPO are spread out over time), and asymmetry (how …
Why Stressed Candidates Make Better Cross-Cultural Hires, Shilpa Madan
Why Stressed Candidates Make Better Cross-Cultural Hires, Shilpa Madan
Research Collection Lee Kong Chian School Of Business
When interviewing job candidates, you may look for evidence that they stay calm under pressure and interpret signs of stress as red flags. However, our recent research shows that for cross-cultural positions, those red flags might actually indicate your best potential hires. Candidates who exhibit signs of stress may be better suited to navigate the complexities of cross-cultural roles, suggesting a need to reassess traditional interview evaluations.
Not All Political Ties Are The Same: Firms' Ties To The Government And Pollution, Wen Helena Li, Ilya R. P. Cuypers, Gokhan Ertug, Hari Bapuji, Wei Liu
Not All Political Ties Are The Same: Firms' Ties To The Government And Pollution, Wen Helena Li, Ilya R. P. Cuypers, Gokhan Ertug, Hari Bapuji, Wei Liu
Research Collection Lee Kong Chian School Of Business
Complementing research on the implications of political ties for firms’ strategic decisions and financial performance, recent studies are increasingly focusing on the environmental consequences of firms’ political connections. We contribute to this stream of work by integrating insights from the literature on political ties and the multifaceted nature of governments to explore how the level of government influences the pollution implications of firms’ political ties. Specifically, we theorize and demonstrate that, in China, firms' achieved political ties with high levels of the government reduce pollution, while such ties with low levels of the government increase it. Furthermore, we examine how …
Issues In Contrasting Conservative And Considered Estimation: A Reply To Bobko Et Al. (2024), Paul R. Sackett, Christopher M. Berry, Filip Lievens, Charlene Zhang
Issues In Contrasting Conservative And Considered Estimation: A Reply To Bobko Et Al. (2024), Paul R. Sackett, Christopher M. Berry, Filip Lievens, Charlene Zhang
Research Collection Lee Kong Chian School Of Business
Bobko et al. (2024) responded to Sackett et al.'s (2022) compilation of meta-analytic evidence for the validity of a wide variety of measures used as predictors of overall job performance, offering a set of alternative methodological choices which they term “considered estimation” to counter the Sackett et al. approach of “conservative estimation.” Here we offer a rebuttal to Bobko et al. A primary concern is that Bobko et al. apply the label “conservative estimation” to the full range of methodological choices made by Sackett et al. Yet, we clarify the narrow and specific meaning of “conservative estimation,” and note that …
Would Order-By-Order Auctions Be Competitive?, Thomas Ernst, Chester Spatt, Jian Sun
Would Order-By-Order Auctions Be Competitive?, Thomas Ernst, Chester Spatt, Jian Sun
Research Collection Lee Kong Chian School Of Business
We model two methods of executing segregated retail orders: brokers’ routing,whereby brokers allocate orders using the market maker’s overall performance, andorder-by-order auctions, where market makers bid on individual orders, a recent U.S.Securities and Exchange Commission proposal. Order-by-order auctions improve al-locative efficiency, but face a winner’s curse reducing retail investor welfare, partic-ularly when liquidity is limited. Additional market participants competing for retailorders fail to improve total efficiency and investor welfare when entrants possess in-formation superior to incumbent wholesalers. Our results hold when new entrants are less informed or the information structure differs. We also examine the cross-subsidization of brokers’ routing.