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Research Collection Lee Kong Chian School Of Business

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Full-Text Articles in Business

Is The Synthetic Stock Price Really Lower Than Actual Price?, Jianfeng Hu Dec 2020

Is The Synthetic Stock Price Really Lower Than Actual Price?, Jianfeng Hu

Research Collection Lee Kong Chian School Of Business

Conventional wisdom suggests synthetic stock prices are lower than actual prices due to short‐sale constraints and voting premiums. This study finds that such underpricing of the synthetic midquote disappears if arbitrageurs face security borrowing costs. The synthetic spread predominantly contains the actual spread. Synthetic stock overpricing is as common as underpricing but the former is more persistent and more profitable. The difference between synthetic and actual quotes is significantly affected by options market makers' hedging costs and investors' demand for leverage.


What Has Changed? The Impact Of Covid Pandemic On The Technology And Innovation Management Research Agenda, Gerard George, Karim R. Lakhani, Phanish Puranam Dec 2020

What Has Changed? The Impact Of Covid Pandemic On The Technology And Innovation Management Research Agenda, Gerard George, Karim R. Lakhani, Phanish Puranam

Research Collection Lee Kong Chian School Of Business

Whereas the pandemic has tested the agility and resilience of organizations, it forces a deeper look at the assumptions underlying theoretical frameworks that guide managerial decisions and organizational practices. In this commentary, we explore the impact of the Covid‐19 pandemic on technology and innovation management research. We identify key assumptions, and then discuss how new areas of investigation emerge based on the changed reality.


Predicting Counterproductive Work Behavior: Do Implicit Motives Have Incremental Validity Beyond Explicit Traits?, J. Malte Runge, Jonas W. B. Lang, Ingo Zettler, Filip Lievens Dec 2020

Predicting Counterproductive Work Behavior: Do Implicit Motives Have Incremental Validity Beyond Explicit Traits?, J. Malte Runge, Jonas W. B. Lang, Ingo Zettler, Filip Lievens

Research Collection Lee Kong Chian School Of Business

This study extends research on the link between personality and Counterproductive Work Behavior (CWB) by investigating whether the implicit Affiliation, Achievement, and Power motives contribute to the prediction of CWB beyond basic personality traits. Employees high in Affiliation, Achievement, and Power motives may disengage from CWB because it is not rewarding and thwarts goal attainment. In Study 1 (N = 263), we found that Affiliation predicted self-rated CWB beyond traits. In Study 2 (N = 121), we found that Affiliation and Power predicted supervisor-rated CWB. Our findings thus suggest to also consider implicit motives as personality determinants of CWB.


A Two-Stage Parallel Network Dea Model For Analyzing The Operational Capability Of Container Terminals, Jaehun Park, Byung Kwon Lee, Joyce M. W. Low Dec 2020

A Two-Stage Parallel Network Dea Model For Analyzing The Operational Capability Of Container Terminals, Jaehun Park, Byung Kwon Lee, Joyce M. W. Low

Research Collection Lee Kong Chian School Of Business

This study proposes a systematical approach to evaluate the operational capability of container terminals and discusses the effect of resource usages on operational performances. Two inter-dependent processes (i.e. the loading-discharging (L&D) and the delivery-receiving (D&R) operational processes) with shared/non-shared resources and common/separate productions are examined and characterized as a two-stage parallel network. An evaluation model is developed upon the principles of data envelopment analysis (DEA) to assess the operational capability of the terminals. Using the real-world dataset of 9 container terminals at Port of Busan, comparative performance results are obtained for 5 years spanning across 2014–2018. The proposed model demonstrates …


Cooperative Approaches To Managing Social Responsibility In A Market With Externalities, Xin Fang, Soo-Haeng Cho Dec 2020

Cooperative Approaches To Managing Social Responsibility In A Market With Externalities, Xin Fang, Soo-Haeng Cho

Research Collection Lee Kong Chian School Of Business

Problem definition: This paper studies two cooperative approaches of firms in managing social responsibility violations of their supplier: auditing a common supplier jointly (joint auditing) and sharing independent audit results with other firms (audit sharing). We study this problem in a market with externalities and a large number of firms. Academic/practical relevance: With numerous firms procuring their materials and parts worldwide, there are many cases in which overseas suppliers violate safety, labor, or environmental standards. Those violations have externalities in the sense that one firm’s violation affects other firms in the same market. …


Enhancing Students’ Global Competence Through International Business Study Missions, Mark Chong, Benjamin Gan, Thomas Menkhoff Dec 2020

Enhancing Students’ Global Competence Through International Business Study Missions, Mark Chong, Benjamin Gan, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

This article shares how an Asian University enhanced students’ global competence through international business study missions (BSMs). More specifically, it focuses on (i) how the design of these BSMs enabled “deep” learning beyond industry tourism and (ii) how 21st century competencies such as ‘global competence’ can be acquired through participation in short-term, faculty-led study missions.Using the case study approach, it critically analyses the learning goals and objectives, design decisions, implementation details and learning outcomes underlying three business study missions led by three instructors from the same university to the USA (New York), Germany (Berlin and Stuttgart), and South Korea (Seoul).The …


Covid-19, Coronavirus, Wuhan Virus, Or China Virus? Understanding How To “Do No Harm" When Naming An Infectious Disease, Theodore C. Masters-Waage, Nilotpal Jha, Jochen Reb Dec 2020

Covid-19, Coronavirus, Wuhan Virus, Or China Virus? Understanding How To “Do No Harm" When Naming An Infectious Disease, Theodore C. Masters-Waage, Nilotpal Jha, Jochen Reb

Research Collection Lee Kong Chian School Of Business

When labeling an infectious disease, officially sanctioned scientific names, e.g., “H1N1 virus,” are recommended over place-specific names, e.g., “Spanish flu.” This is due to concerns from policymakers and the WHO that the latter might lead to unintended stigmatization. However, with little empirical support for such negative consequences, authorities might be focusing on limited resources on an overstated issue. This paper empirically investigates the impact of naming against the current backdrop of the 2019-2020 pandemic.


Trading Regularity And Fund Performance: Evidence In Uncertain Markets, Lin Tong, Zhe Zhang Dec 2020

Trading Regularity And Fund Performance: Evidence In Uncertain Markets, Lin Tong, Zhe Zhang

Research Collection Lee Kong Chian School Of Business

High trading regularity funds outperform low trading regularity funds more during periods of low market returns and greater market and economic uncertainty. Their trading also has strong return predictability on stock returns during periods of greater uncertainty. They trade more around news events, and their news related trading predicts stock return stronger during periods of greater uncertainty. They also profit from liquidity provision in highly uncertain market environment. Overall our evidence suggests that high trading regularity funds trade more frequently during periods of high uncertainty when information production and processing skill is more valuable and when the demand for liquidity …


Capacity Allocation And Revenue Sharing In Healthcare Alliances, Xiaoquan Gao, Jianpei Wen, Jie Song Dec 2020

Capacity Allocation And Revenue Sharing In Healthcare Alliances, Xiaoquan Gao, Jianpei Wen, Jie Song

Research Collection Lee Kong Chian School Of Business

This study investigates the operations of a healthcare alliance, where two types of independent hospitals [general hospitals (GHs) and community healthcare centers (CHCs)] collaborate in capacity allocation and revenue management to improve efficiency and revenue. Specifically, the GH allocates part of its capacity to establish a dedicated green channel for referral patients from the CHC based on a negotiated revenue sharing scheme. Generally, independent hospitals, like GHs and CHCs, in the healthcare delivery system provide complementary and substitute services due to the referral process and patients choice. Both service providers need each other, and their collaboration is very beneficial to …


Kin Ties And The Performance Of New Firms: A Structural Approach, Gokhan Ertug, Reddi Kotha, Peter Hedstrom Dec 2020

Kin Ties And The Performance Of New Firms: A Structural Approach, Gokhan Ertug, Reddi Kotha, Peter Hedstrom

Research Collection Lee Kong Chian School Of Business

Kin ties are all but ubiquitous in new firms. However, their effects on performance are not straightforward, because they may provide new firms with advantages (enhanced coordination and cooperation) as well as disadvantages (reduced diversity, nepotism concerns, and the possible spillover of personal conflict). As kin ties may have both positive and negative implications for performance, a contingency approach to the performance of new firms is valuable. We develop such an approach by relating different structural configurations of kin ties – whether they are between founders, between founders and employees, and between employees – to the performance of new firms. …


What's On Job Seekers' Social Media Sites? A Content Analysis And Effects Of Structure On Recruiter Judgments And Predictive Validity, Liwen Zhang, Chad H. Van Iddekinge, John D. Arnold, Philip L. Roth, Filip Lievens, Stephen E. Lanivich, Samantha L. Jordan Dec 2020

What's On Job Seekers' Social Media Sites? A Content Analysis And Effects Of Structure On Recruiter Judgments And Predictive Validity, Liwen Zhang, Chad H. Van Iddekinge, John D. Arnold, Philip L. Roth, Filip Lievens, Stephen E. Lanivich, Samantha L. Jordan

Research Collection Lee Kong Chian School Of Business

Many organizational representatives review social media (SM) information (e.g., Facebook, Twitter) when recruiting and assessing job applicants. Despite this, very little empirical data exist concerning the SM information available to organizations or whether assessments of such information are a valid predictor of work outcomes. This multi-study investigation examines several critical issues in this emerging area. In Study 1, we conducted a content analysis of job seekers’ Facebook sites (n = 266) and found that these sites often provide demographic variables that U.S. employment laws typically prohibit organizations from using when making personnel decisions (e.g., age, ethnicity, religion), as well as …


Implementing Lasting Change: Hr In The Social Service Sector, Fermin Diez, Run Qian Ng Dec 2020

Implementing Lasting Change: Hr In The Social Service Sector, Fermin Diez, Run Qian Ng

Research Collection Lee Kong Chian School Of Business

The Human Resources (HR) practices in any organisation can make a big difference in its ability to implement the strategic plan (Thomas, Smith & Diez, 2013). This assertion points towards an additional question: Can a whole sector of the economy increase its overall capability and capacity by improving the overall HR abilities of the organisations in the sector? The Social Service Sector in Singapore has been undergoing just such a sector-wide transformation over the past 6 years, and provides a great opportunity to analyse empirically whether a systemic approach to improve the overall HR practices of the Social Service Agencies …


Public Relations Education In Singapore: Educating The Next Generation Of Practitioners On Ethics, Eugene Yong Sheng Woon, Augustine Pang Dec 2020

Public Relations Education In Singapore: Educating The Next Generation Of Practitioners On Ethics, Eugene Yong Sheng Woon, Augustine Pang

Research Collection Lee Kong Chian School Of Business

This study examines if PR education adequately prepares students for the workplace, particularly in the practice of ethics in the context of Singapore, which has been described as one of “Asia’s economic tigers” (BBC, 2018). This study, thus, aims to first, elucidate the state of PR education specifically in relation to how PR ethics is taught in Singapore. Second, it examines how ethics education prepares students for the workplace in Singapore. Data comes from examining the syllabi of 14 universities in Singapore, both local and international, and interviews with 20 academics and practitioners. Findings suggest there are varying degrees in …


Value Creating Drivers For Effective Human Capital Management, Ser Keng Ang Dec 2020

Value Creating Drivers For Effective Human Capital Management, Ser Keng Ang

Research Collection Lee Kong Chian School Of Business

It is common for modern-day corporate leaders and academic writers to make claim that human resources is one of the most important assets in their organization (Guest, 2001). If that were the case, effective management of human capital would be a critical factor in the success of any organization. As an important organizational resource, human capital is expected to generate significant economic benefits from its deployment, development and retention (Flamholtz, 1999). There is widespread evidence that the effective use of human capital can also create durable competitive advantage for an organization (Barney, 1991; Becker & Gerhart, 1996; Lado & Wilson, …


Salary Negotiation: Myths Busted, Abhijeet K. Vadera, Karyn Thye Dec 2020

Salary Negotiation: Myths Busted, Abhijeet K. Vadera, Karyn Thye

Research Collection Lee Kong Chian School Of Business

A negotiation expert and a compensation geek came together to answer some of the toughest salary negotiation questions from the Master of Human Capital Leadership (MHCL) 2020 graduate cohort. We hope that our combined experiences in this field would help shed some light on the complex world of salary negotiations.


Reputation Matters: Building Internal Trust And Resilience With Effective Communication, Su Lin Yeo Dec 2020

Reputation Matters: Building Internal Trust And Resilience With Effective Communication, Su Lin Yeo

Research Collection Lee Kong Chian School Of Business

Reputation is a crucial driver of business performance. In today’s crisis-ridden business environment, this corporate quality has never been more prized in organizations. Research has time and again demonstratedthat a favorable reputation offers long-term value for organizations. Reputation impacts everything from financial to relationships represented by public’s confidence in brand equity, human capital, earnings and future growth. Reputation-led companies have been shown to set the standard by leading the pack for other businesses to follow, and in times of a crisis, the reputation capital that they have amassed enable them to better recover from economic storms. However, unlike other business …


Motivation Purity Bias: Expression Of Extrinsic Motivation Undermines Perceived Intrinsic Motivation And Engenders Bias In Selection Decisions, Rellie Derfler-Rozin, Marko Pitesa Dec 2020

Motivation Purity Bias: Expression Of Extrinsic Motivation Undermines Perceived Intrinsic Motivation And Engenders Bias In Selection Decisions, Rellie Derfler-Rozin, Marko Pitesa

Research Collection Lee Kong Chian School Of Business

Organizational selection decisions often involve an exchange of information between candidates and decision makers as to why candidates are motivated to work in the given position. Drawing on popular management myths as our overarching framework, we theorize that candidates’ expressions of extrinsic motivation lead decision makers to infer that the candidate is less intrinsically motivated, leading to bias against such candidates. We term this effect motivation purity bias, and argue that it emerges despite ample evidence, which we review, showing that penalizing expressed extrinsic motivation is not only unfair to candidates but also counterproductive from the standpoint of maximizing future …


What Do Short Sellers Know?, Ekkehart Boehmer, Charles M. Jones, Juan (Julie) Wu, Xiaoyan Zhang Nov 2020

What Do Short Sellers Know?, Ekkehart Boehmer, Charles M. Jones, Juan (Julie) Wu, Xiaoyan Zhang

Research Collection Lee Kong Chian School Of Business

Using NYSE short-sale order data, we investigate whether short sellers' informational advantage is related to firm earnings and analyst-related events. With a novel decomposition method, we find that while these fundamental event days constitute only 12% of sample days, they account for over 24% of the overall underperformance of heavily shorted stocks. Importantly, short sellers use both public news and private information to anticipate news regarding earnings and analysts. Shorting's predictive ability remains significant after controlling for information in analyst actions and displays no reversal patterns, indicating that short sellers know more than analysts, and the nature of their information …


The Dark Side Of Sustainability Orientation For Sme Performance, Teemu Kautonen, Simon J.D. Schillebeeckx, Johannes Gartner, Henri Hakata, Katariina Salmela-Aro, Kirsi Snellmand Nov 2020

The Dark Side Of Sustainability Orientation For Sme Performance, Teemu Kautonen, Simon J.D. Schillebeeckx, Johannes Gartner, Henri Hakata, Katariina Salmela-Aro, Kirsi Snellmand

Research Collection Lee Kong Chian School Of Business

This article examines how a firm’s willingness to make trade-offs that favour sustainability over commercial goals attenuates the relationship between firm-level sustainability orientation and subsequent performance. The hypothesis development draws on stakeholder theory and the literature on mission and revenue drifts, while the empirical analysis is based on two waves of original survey data on Finnish manufacturing SMEs. We find that sustainability orientation is positively associated with performance only when the willingness to make sustainability trade-offs is low, whereas the relationship becomes negative when the willingness to make such trade-offs is high. Our findings thus suggest that the popular adage …


Restrict, Clean And Protect: Signaling Consumer Safety During The Pandemic And Beyond, Liliana L. Bove, Sabine Benoit Nov 2020

Restrict, Clean And Protect: Signaling Consumer Safety During The Pandemic And Beyond, Liliana L. Bove, Sabine Benoit

Research Collection Lee Kong Chian School Of Business

Purpose: Since the outbreak of the COVID-19 pandemic, customers fear for their health when interacting with service providers. To mitigate this fear service providers are using safety signals directed to consumers and other stakeholders who make organizational assessments. The purpose of this article is to synthesize the range of safety signals in a framework that integrates signaling theory with servicescape elements so as to provide guidance for service providers to assist in their recovery. Design/methodology/approach: The authors extracted examples of how service providers signal safety to their consumers that the risk of infection is low in exchanging with their service. …


Can Retail Investors Learn From Insiders?, Ekkehart Boehmer, Bo Sang, Zhe Zhang Nov 2020

Can Retail Investors Learn From Insiders?, Ekkehart Boehmer, Bo Sang, Zhe Zhang

Research Collection Lee Kong Chian School Of Business

This paper examines the trading patterns of retail investors following insider trading and the corresponding price impact. Retail investors follow the opportunistic purchases by insiders, but not their routine purchases. Neither investor attention nor common information such as earnings announcements or analysts forecast re- visions explains the results. They keep following insider purchases in subsequent four quarters. Moreover, for stocks with opportunistic insider purchases, those that retail investors bought yield higher cumulative abnormal returns than those that retail investors sold. The effect is mostly driven by the information compo- nent of the retail trades, rather than liquidity provision or temporary …


How To Make Venture Capital Funding Work For You, Ser Keng Ang Nov 2020

How To Make Venture Capital Funding Work For You, Ser Keng Ang

Research Collection Lee Kong Chian School Of Business

From Facebook to Google, some of the biggest brands we know today got their start from venture capital funding. Prof Ang Ser Keng from the Lee Kong Chian School of Business, shares how and when involving venture capitalists in your startup can propel it to success.


Macroeconomic Stabilization In The Digital Age, John Beirne, David Fernandez Nov 2020

Macroeconomic Stabilization In The Digital Age, John Beirne, David Fernandez

Research Collection Lee Kong Chian School Of Business

Macroeconomic Stabilization in the Digital Age provides insights into factors affecting the macroeconomic management of the economy in the digital age. Policy makers need to be aware of the increasing prominence of the digital economy and digital finance and seek to better understand how continued digitalization will affect policies aimed at managing the economy. For emerging market economies (EMEs), macroeconomic policy challenges have been exacerbated by the digital finance revolution in the aftermath of the global financial crisis and the coronavirus disease (COVID-19) pandemic, when many EMEs experienced large and volatile capital flows. Policy makers must also navigate through fluctuating …


Personnel Selection: A Longstanding Story Of Impact At The Individual, Firm, And Societal Level, Filip Lievens, Paul R. Sackett, Charlene Zhang Nov 2020

Personnel Selection: A Longstanding Story Of Impact At The Individual, Firm, And Societal Level, Filip Lievens, Paul R. Sackett, Charlene Zhang

Research Collection Lee Kong Chian School Of Business

This paper discusses how and why the field of personnel selection has made a long-lasting mark in work and organizational psychology. We start by outlining the importance and relevance of the well-established analytical framework (criterion-related validity, incremental validity, utility) for examining the impact of selection at the individual (job performance) level. We also document the substantive criterion-related validities of most common selection procedures on the basis of cumulative meta-analytic research. Next, we review more recent research that investigated the impact of selection at the more macro organizational (firm performance) level. We show that the positive relationship between selection and performance …


Financial Performance Of Shipping Firms That Increase Lng Carriers And The Support Of Eco-Innovation, Kian Guan Lim, Michelle Lim Nov 2020

Financial Performance Of Shipping Firms That Increase Lng Carriers And The Support Of Eco-Innovation, Kian Guan Lim, Michelle Lim

Research Collection Lee Kong Chian School Of Business

The technology to liquefy natural gas for transport to countries worldwide and the increasing use of natural gas as a cleaner fossil fuel for industry and household meant that the supply of liquified natural gas (LNG) worldwide is a profitable trend. Shipping companies can strategically choose to diversify into LNG fleet to grasp this trend. By supplying more LNG shipping capacities, the greater availability of LNG worldwide, as a source of marine fuel and as a source of cleaner energy in replacing coal and oil, is supporting eco-innovation. In this paper, we investigate three economic and financial benefits to a …


Bank Partnership And Liquidity Crisis, Seungho Choi, Yong Kyu Gam, Junho Park, Hojong Shin Nov 2020

Bank Partnership And Liquidity Crisis, Seungho Choi, Yong Kyu Gam, Junho Park, Hojong Shin

Research Collection Lee Kong Chian School Of Business

This study empirically investigates the relationship between banking integration and liquidity management. To measure banks’ connectivity, we use the number of partnerships proxied via the syndicated loan arrangements in which they serve as lead arrangers. If banks establish more business partnerships through syndicated loan arrangements, those under market stress are more likely to face increased funding costs, create reduced liquidity, and originate declined small business loans and mortgages. Those banks with more partners are shown to have a lower liquidity coverage ratio, suggesting that business partnerships create a disincentive toward liquidity risk management.


How The Use Of Cc, Bcc, Forward, And Rewrite In Email Communication Impacts Team Dynamics, Tessa Haesevaets, David De Cremer, Jack Mcguire Nov 2020

How The Use Of Cc, Bcc, Forward, And Rewrite In Email Communication Impacts Team Dynamics, Tessa Haesevaets, David De Cremer, Jack Mcguire

Research Collection Lee Kong Chian School Of Business

The present research examined how the use of different email functions impact dynamics between team members. We first illustrate that it is not so uncommon for employees to find out that the Bcc option has been used in email communications at work. Building on this insight, we then demonstrate that senders using the Bcc option are evaluated by recipients as less moral and consequently as less fitting to be the team leader compared to senders who use the Cc option. Interestingly, this effect occurred regardless of whether or not the sender provided a commonly cited reason for Bcc use. Next, …


When And Why Narcissists Exhibit Greater Hindsight Bias And Less Perceived Learning, Satoris S. Howes, Edgar E. Kausel, Alexander T. Jackson, Jochen Reb Nov 2020

When And Why Narcissists Exhibit Greater Hindsight Bias And Less Perceived Learning, Satoris S. Howes, Edgar E. Kausel, Alexander T. Jackson, Jochen Reb

Research Collection Lee Kong Chian School Of Business

The present research sought to examine the impact of narcissism, prediction accuracy, and should counterfactual thinking—which includes thoughts such as “I should have done something different”—on hindsight bias (the tendency to exaggerate in hindsight what one knew in foresight) and perceived learning. To test these effects, we conducted four studies (total n = 727). First, in Study 1 we examined a moderated mediation model, in which should counterfactual thinking mediates the relation between narcissism and hindsight bias, and this mediation is moderated by prediction accuracy such that the relationship is negative when predictions are accurate and positive when predictions are …


Outcomes Of An Expert Survey: Are Singapore’S Manufacturing Small And Medium Enterprises Ready To Embrace Industry 4.0, Gopalakrishnan Surianarayanan, Thomas Menkhoff Nov 2020

Outcomes Of An Expert Survey: Are Singapore’S Manufacturing Small And Medium Enterprises Ready To Embrace Industry 4.0, Gopalakrishnan Surianarayanan, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

Industry 4.0 encompasses adopting opportunities from end-to-end digitalisation with connected computers and increasingly autonomous automation systems equipped with intelligent machine learning algorithms that control the robotics without much input from humans. Smart manufacturing technologies (a part of the smart industry, an extension of Industry 4.0 initiatives and implementation) involve automating various processes. It aims to connect various units in real-time while enhancing profitability by reducing costs, increasing labour productivity, and improving overall efficiency. The impetus for our paper is the assumption that the adoption of smart manufacturing technologies such as advanced robotics, cyber-physical systems, or the Internet of Things (IoT) …


5 Ways To Boost Your Business Through Influencer Marketing, Patricia Lui Nov 2020

5 Ways To Boost Your Business Through Influencer Marketing, Patricia Lui

Research Collection Lee Kong Chian School Of Business

Covid-19 pandemic’s economic impact put pressure on marketing budgets. Brands are more careful when deciding how they spend the funds on digital marketing, including influencer strategy. The blog offers tips on how to tap on influencers to create brand awareness and generate business leads and conversions.