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Research Collection Lee Kong Chian School Of Business

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Full-Text Articles in Business

Combating Child Labor: Incentives And Information Disclosure In Global Supply Chains, Soo-Haeng Cho, Xin Fang, Sridhar Tayur, Ying Xu May 2019

Combating Child Labor: Incentives And Information Disclosure In Global Supply Chains, Soo-Haeng Cho, Xin Fang, Sridhar Tayur, Ying Xu

Research Collection Lee Kong Chian School Of Business

Problem definition: We investigate multinational firms’ inspection and pricing strategies to address the challenges of combating child labor in global supply chains. We also examine how several factors (such as information disclosure, goodwill loss, inspection cost, external monitoring by nongovernmental organizations (NGOs), and penalty scheme) affect firms’ incentives to use different strategies to combat child labor. Academic/practical relevance: Nearly 200 million children are engaged in child labor, many in developing countries that are part of the supply base of global manufacturing networks. However, there has been little research on evaluating the impact of firms’ strategies and NGOs’ initiatives …

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Constructed Response Formats And Their Effects On Minority-Majority Differences And Validity, Filip Lievens, Paul R. Sackett, Jeffrey Dahlke, Janneke Oostrom, Britt De Soete May 2019

Constructed Response Formats And Their Effects On Minority-Majority Differences And Validity, Filip Lievens, Paul R. Sackett, Jeffrey Dahlke, Janneke Oostrom, Britt De Soete

Research Collection Lee Kong Chian School Of Business

The inflow of immigrants challenges organizations to consider alternative selection procedures that reduce potential minority (immigrants)-majority (natives) differences, while maintaining valid predictions of performance. To deal with this challenge, this paper proposes response format as a practically and theoretically relevant factor for situational judgment tests (SJTs). We examine a range of response format categories (from traditional multiple-choice formats to more innovative constructed response formats) and conceptually link these response formats to mechanisms underlying minority-majority differences. Two field experiments are conducted with SJTs. Study 1 (274 job seekers) contrasts minority-majority differences in scores on a multiple-choice versus a written constructed response …

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Humility Breeds Authenticity: How Authentic Leader Humility Shapes Follower Vulnerability And Felt Authenticity, Burak Oc, Michael A. Daniels, James M. Diefendorff, Michael Ramsay Bashshur, Gary John Greguras May 2019

Humility Breeds Authenticity: How Authentic Leader Humility Shapes Follower Vulnerability And Felt Authenticity, Burak Oc, Michael A. Daniels, James M. Diefendorff, Michael Ramsay Bashshur, Gary John Greguras

Research Collection Lee Kong Chian School Of Business

Integrating existing work that considers the self through an interpersonal lens with theories pertaining to leader humility and authenticity, we develop a moderated mediation model that theorizes how and under what circumstances leader humility relates to follower felt authenticity. We argue that followers feel less vulnerable when their leaders express humility and further that this relation becomes weaker as the authenticity of leader humility decreases. We also theorize that follower vulnerability is the mechanism explaining the interactive effect of leader humility and its authenticity on follower felt authenticity at work. Our theoretical model was supported across four studies employing both …

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Informed Options Trading Prior To Bankruptcy Filings, Li Ge, Jianfeng Hu, Mark Humphery-Jenner, Tse-Chun Lin May 2019

Informed Options Trading Prior To Bankruptcy Filings, Li Ge, Jianfeng Hu, Mark Humphery-Jenner, Tse-Chun Lin

Research Collection Lee Kong Chian School Of Business

Prior evidence on pre-bankruptcy-filing informed trade is mixed. The inconclusive findings might result from the sole focus on stock trading. We reassess the presence of pre-filing informed and insider trades by examining the information content of options trading before bankruptcy announcements. We find that bankruptcy filing returns are not significantly related to pre-filing insider stock trading. However, filing returns are significantly negatively related to pre-filing insider and informed options trading. The informational content of options trading reduces with options illiquidity and the amount of information impounded into pre-filing stock prices.

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Robust Measures Of Earnings Surprises, Chin-Han Chiang, Wei Dai, Jianqing Fan, Harrison Hong, Jun Tu Apr 2019

Robust Measures Of Earnings Surprises, Chin-Han Chiang, Wei Dai, Jianqing Fan, Harrison Hong, Jun Tu

Research Collection Lee Kong Chian School Of Business

Event studies of market efficiency measure an earnings surprise with the consensuserror (CE), defined as earnings minus the average of professional forecasts. Even if asubset of forecasts can be biased, the ideal but difficult to estimate parameter-dependentalternative to CE is a nonlinear filter of individual errors that adjusts for bias. We showthat CE is a poor parameter-free approximation for this ideal measure. The fractionof misses on the same side (FOM), by discarding the magnitude of misses, offers a farbetterapproximation. FOM performs particularly well against CE in predicting thereturns of US stocks, where bias is potentially large, than that of international …

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Stock Market Responses To Unethical Behavior In Organizations: An Organizational Context Model, Bradford E. Baker, Rellie Derfler-Rozin, Marko Pitesa, Micheal D. Johnson Apr 2019

Stock Market Responses To Unethical Behavior In Organizations: An Organizational Context Model, Bradford E. Baker, Rellie Derfler-Rozin, Marko Pitesa, Micheal D. Johnson

Research Collection Lee Kong Chian School Of Business

We develop and test a model that extends the understanding of how people react to news of organizational unethical behavior and how such reactions impact stock performance. We do so by taking into account the interplay between the features of specific unethical acts and the features of the organizational context within which unethical acts occur. We propose a two-stage model in which the first stage predicts that unethical acts that benefit the organization are judged less harshly than are unethical acts that benefit the actor, when the organization is seen as pursuing a moral goal (e.g., producing inexpensive medicine rather …

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Information Sampling, Judgment And The Environment: Application To The Effect Of Popularity On Evaluations, Gaël Le Mens, Jerker Denrell, Balázs Kovacs, Hülya Karaman Apr 2019

Information Sampling, Judgment And The Environment: Application To The Effect Of Popularity On Evaluations, Gaël Le Mens, Jerker Denrell, Balázs Kovacs, Hülya Karaman

Research Collection Lee Kong Chian School Of Business

If people avoid alternatives they dislike, a negative evaluative bias emerges because errorsof under-evaluation are unlikely to be corrected. Prior work that analyzed this mechanismhas shown that when the social environment exposes people to avoided alternatives (i.e. itmakes them resample them), then evaluations can become systematically more positive. In this paper, we clarify the conditions under which this happens. By analyzing a simple learning model, we show that whether additional exposures induced by the social environment lead to more positive or more negative evaluations depends on how prior evaluations and the social environment interact in driving resampling. We apply these …

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Order Flow Volatility And Equity Costs Of Capital, Tarun Chordia, Jianfeng Hu, Avanidhar Subrahmanyam, Qing Tong Apr 2019

Order Flow Volatility And Equity Costs Of Capital, Tarun Chordia, Jianfeng Hu, Avanidhar Subrahmanyam, Qing Tong

Research Collection Lee Kong Chian School Of Business

We propose that the volatility of order flow is a proxy for costs of information asymmetry, as order flow volatility varies positively with parameters that also influence adverse selection costs of trading. Empirically, order flow volatility is significantly higher prior to earnings or merger announcements when information asymmetry is likely to be elevated. Levels of and shocks to order flow volatility are positively and significantly correlated with existing illiquidity proxies, and strongly predict stock returns in the cross section. The impact of order imbalance volatility shocks on stock prices is reflected within one month in large, visible stocks, but takes …

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Managing Wind-Based Electricity Generation In The Presence Of Storage And Transmission Capacity, Yangfang (Helen) Zhou, Alan Scheller-Wolf, Nicola Secomandi, Stephen Smith Apr 2019

Managing Wind-Based Electricity Generation In The Presence Of Storage And Transmission Capacity, Yangfang (Helen) Zhou, Alan Scheller-Wolf, Nicola Secomandi, Stephen Smith

Research Collection Lee Kong Chian School Of Business

We investigate the management of a merchant wind energy farm co‐located with a grid‐level storage facility and connected to a market through a transmission line. We formulate this problem as a Markov decision process (MDP) with stochastic wind speed and electricity prices. Consistent with most deregulated electricity markets, our model allows these prices to be negative. As this feature makes it difficult to characterize any optimal policy of our MDP, we show the optimality of a stage‐ and partial‐state‐dependent‐threshold policy when prices can only be positive. We extend this structure when prices can also be negative to develop heuristic one …

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The Employment Relationship: Key Elements, Alternative Frames Of Reference, And Implications For Hrm, John W. Budd, Devasheesh P. Bhave Apr 2019

The Employment Relationship: Key Elements, Alternative Frames Of Reference, And Implications For Hrm, John W. Budd, Devasheesh P. Bhave

Research Collection Lee Kong Chian School Of Business

The employment relationship is the connection between employees and employers through which people sell their labor. This might consist of an immigrant day laborer paid by the bushel to pick fruit in the hot sun, a tech industry freelancer completing episodic gigs without ever meeting a boss, a salaried manager who has been working in an air-conditioned office for the same company for 40 years, or innumerable other situations. Irrespective of situation, all employees and employers have fundamental interests they pursue through the employment relationship, all forms of this relationship are mediated by labor markets and states, and each instance …

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Recruitment And Selection, Filip Lievens, Derek Chapman Apr 2019

Recruitment And Selection, Filip Lievens, Derek Chapman

Research Collection Lee Kong Chian School Of Business

Few people question that recruitment and selection are key strategic domains in HRM. At the same time, recruitment and selection also have an image problem. First, recruitment and selection are often viewed as ‘old’ ingrained HRM domains. It seems like the traditional recruitment and selection procedures have been around for decades, which is at odds with the ever changing internal and external environment of organizations. Hence, practitioners often wonder whether there are any new research-based ways for recruiting and selecting personnel. Another image problem for recruitment and selection is that a false dichotomy is often created between so-called macro HR …

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Reputation Concerns Under At-Will Employment, Jian Sun, Dong Wei Apr 2019

Reputation Concerns Under At-Will Employment, Jian Sun, Dong Wei

Research Collection Lee Kong Chian School Of Business

We study a continuous-time model of long-run employment relationship with fixed wage and at-will firing; that is, termination of the relationship is non-contractible. Depending on his type, the worker either always works hard, or can freely choose his effort level. The firm does not know the worker’s type and the monitoring is imperfect. We show that, in the unique Markov equilibrium, as the worker’s reputation worsens, his job becomes less secure and the strategic worker works harder. We further demonstrate that the relationship between average productivity and job insecurity is U shaped, which is consistent with typical findings in the …

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Dare To Be Different? Conformity Versus Differentiation In Corporate Social Activities Of Chinese Firms And Market Responses, Yanlong Zhang, Heli Wang, Xiaoyu Zhou Apr 2019

Dare To Be Different? Conformity Versus Differentiation In Corporate Social Activities Of Chinese Firms And Market Responses, Yanlong Zhang, Heli Wang, Xiaoyu Zhou

Research Collection Lee Kong Chian School Of Business

Building on the literature on optimal distinctiveness, this study explores the effects of conformity and differentiation in corporate social responsibility (CSR) practices on the evaluations by security analysts and the responses of the financial market in general. We develop the argument that while conformity in CSR scope enhances analyst coverage, differentiation in CSR emphasis leads to more-favorable analyst recommendations and higher market value. This suggests that firms may be able to simultaneously conform in CSR scope and differentiate in CSR emphasis to achieve optimal distinctiveness. To further enhance our understanding of the variation in the relationship between conformity/differentiation and the …

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Many Hands: The Effect Of The Prior Inventor-Intermediaries Relationship On Academic Licensing, Young-Choon Kim, Mooweon Rhee, Reddi Kotha Apr 2019

Many Hands: The Effect Of The Prior Inventor-Intermediaries Relationship On Academic Licensing, Young-Choon Kim, Mooweon Rhee, Reddi Kotha

Research Collection Lee Kong Chian School Of Business

We study the role of the relationship among inventors and intermediaries in the licensing of university inventions. We suggest that a prior inventor-intermediaries relationship positively influences licensing rates through selective retention of higher quality relationships and mutual learning in the relationship, enabling intermediaries to reduce both information asymmetry and search costs between inventors and potential licensees. We argue that the influence of a prior inventor-intermediaries relationship on licensing is especially important before intellectual property protection is attained and can be substituted by the buyer-side contacts of inventors and intermediaries. We test these predictions using 919 inventions from the technology transfer …

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Mapping Cultural Tightness And Its Links To Innovation, Urbanization, And Happiness Across 31 Provinces In China, Roy Y. J. Chua, Kenneth Huang, Mengzi Jin Apr 2019

Mapping Cultural Tightness And Its Links To Innovation, Urbanization, And Happiness Across 31 Provinces In China, Roy Y. J. Chua, Kenneth Huang, Mengzi Jin

Research Collection Lee Kong Chian School Of Business

We conduct a 3-y study involving 11,662 respondents to map cultural tightness—the degree to which a society is characterized by rules and norms and the extent to which people are punished or sanctioned when they deviate from these rules and norms—across 31 provinces in China. Consistent with prior research, we find that culturally tight provinces are associated with increased governmental control, constraints in daily life, religious practices, and exposure to threats. Departing from previous findings that tighter states are more rural, conservative, less creative, and less happy, cultural tightness in China is associated with urbanization, economic growth, better health, greater …

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Economic Cycles As A Source Of Social Influence On Individuals, Nina Sirola Apr 2019

Economic Cycles As A Source Of Social Influence On Individuals, Nina Sirola

Research Collection Lee Kong Chian School Of Business

The current review summarizes emerging research in psychology and associated disciplines showing that the economic cycles exert social influence on individuals across a range of psychological domains. Most research on social influence focused on how factors in the proximal environment impact individuals, while influences emanating from the state of the economy as a whole received far less attention. I review the development of different intellectual traditions examining social influence to explain the relative lack of attention to economic cycles and position emerging work on the topic relative to past research. I then review research on how economic cycles influence individuals …

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Explore Alternatives Now! - Performance Mgmt In The Multi-Dimensional Digital World, Richard Raymond Smith Apr 2019

Explore Alternatives Now! - Performance Mgmt In The Multi-Dimensional Digital World, Richard Raymond Smith

Research Collection Lee Kong Chian School Of Business

Earlier, business was not quite as dynamic, employment was intended for the long-term, and the idea of pay linked to performance was quite a dependable model. But as we examine the tradition of performance management in light of today's digital business models, there are a number of new questions that emerge.

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The Differential Impact Of Interactions Outside The Organization On Employee Well-Being, Devasheesh P. Bhave, Freyr Halldórsson, Eugene Kim, Alexandru M. Lefter Mar 2019

The Differential Impact Of Interactions Outside The Organization On Employee Well-Being, Devasheesh P. Bhave, Freyr Halldórsson, Eugene Kim, Alexandru M. Lefter

Research Collection Lee Kong Chian School Of Business

We examine two different perspectives of interactions outside the organization: the relational work design perspective and the emotional labour perspective. The relational work design perspective suggests that interactions outside the organization have favourable outcomes for employees, whereas the emotional labour perspective suggests that such interactions have adverse outcomes for employees. Our goal is to reconcile findings from these two research streams. In Study 1, using data from employees working in diverse occupations, we find that interactions outside the organization have a positive indirect effect on employee well‐being via task significance, and a negative indirect effect on employee well‐being via surface …

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Scaled Pca: A New Approach To Dimension Reduction, Dashan Huang, Fuwei Jiang, Guoshi Tong, Guofu Zhou Mar 2019

Scaled Pca: A New Approach To Dimension Reduction, Dashan Huang, Fuwei Jiang, Guoshi Tong, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

The notion that bond risk premium varies with business cycles is challenged once real time macro data are used. In this paper, we argue that the macro factors extracted by using the standard PCA are not the most relevant for forecasting bond risk premium, because the PCA factors are designed to explain the most variation of macro data instead of the variation of bond risk premium. With the latter objective in mind, we propose a scaled PCA (sPCA) approach, which incorporates the information in bond risk premium in the factor extraction procedure. The real time macro sPCA factors have much …

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Establishing An Asia-Pacific Cryptocurrency Hub, Arnat Leemakdej, Chiyachantana N. Chiraphol Mar 2019

Establishing An Asia-Pacific Cryptocurrency Hub, Arnat Leemakdej, Chiyachantana N. Chiraphol

Research Collection Lee Kong Chian School Of Business

Asia is leading the way in digital asset markets, but individual countries are taking markedly different paths toward regulation and management in establishing themselves as cryptocurrency hubs, balancing innovation and regulation. Investors should be vigilant about the risks associated with alternative capital-raising methods.

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The Double-Edged Sword Of High Expectations: Presumptive Trust, Reflective Trust, And Satisfaction In International Joint Ventures, Gokhan Ertug, Ilya Cuypers, Niels G. Noorderhaven, Ben Bensaou Mar 2019

The Double-Edged Sword Of High Expectations: Presumptive Trust, Reflective Trust, And Satisfaction In International Joint Ventures, Gokhan Ertug, Ilya Cuypers, Niels G. Noorderhaven, Ben Bensaou

Research Collection Lee Kong Chian School Of Business

Joint ventures (JVs) are commonly used by firms to enter into foreign markets. Firms often have high expectations when forming international joint ventures (IJVs). However, IJVs pose serious challenges and many fail to deliver the expected benefits found that the executives he interviewed were not satisfied with more than half of their IJVs, which is consistent with a recent McKinsey report in which senior managers indicated that more than 40 percent of their JVs underperform compared to initial expectations. Similarly, Madhok and Tallman (1998: 326) observed that despite their popularity, collaborations between firms are “characterized by a high level of …

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Selling Off-Grid Light To Liquidity Constrained Consumers, Bhavani Shanker Uppari, Ioana Popescu, Serguei Netessine Mar 2019

Selling Off-Grid Light To Liquidity Constrained Consumers, Bhavani Shanker Uppari, Ioana Popescu, Serguei Netessine

Research Collection Lee Kong Chian School Of Business

Problem definition: A large proportion of the world’s population has no access to electricity and so relies on noxious kerosene for their lighting needs. Solar-based solutions require a large up-front investment and are often unaffordable in this market owing to consumers’ tight liquidity constraints. As an alternative, there are business models relying on rechargeable light bulbs that are sold at a subsidized price (which renders them affordable) and require regular micropayments for recharges (which eases liquidity constraints). These bulbs provide a cheaper and healthier light source than kerosene, yet their adoption is lower than expected, and some consumers continue …

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How Does Energy Matter? Rural Electrification, Entrepreneurship, And Community Development In Kenya, Antoine Vernet, Jane N. O. Khayesi, Vivian George, Gerard George, Abubakar S. Bahaj Mar 2019

How Does Energy Matter? Rural Electrification, Entrepreneurship, And Community Development In Kenya, Antoine Vernet, Jane N. O. Khayesi, Vivian George, Gerard George, Abubakar S. Bahaj

Research Collection Lee Kong Chian School Of Business

We examine the impact of rural electrification on individuals and businesses within a community in order to test a resource-based theory of entrepreneurship. We show that access to electricity increases average households’ income and entrepreneurial activities. The impact of electricity on entrepreneurial activity has wide-ranging implications for development policy in countries where access to electricity is sparse. Results show a significant difference in entrepreneurial opportunities with respect to firm formation, with the electrified site reporting more new micro-enterprises than the control site after implementation. Electrification affects both households’ income, individuals’ perceptions of their social position, and opportunities for business development. …

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Do Mobile Banner Ads Increase Sales? Yes, In The Offline Channel, Ernst C. Osinga, Menno Zevenbergen, Mark W. G. Van Zuijlen Mar 2019

Do Mobile Banner Ads Increase Sales? Yes, In The Offline Channel, Ernst C. Osinga, Menno Zevenbergen, Mark W. G. Van Zuijlen

Research Collection Lee Kong Chian School Of Business

Firms allocate increasingly large budgets to mobile banner advertising. Yet, existing research paid only scant attention to the sales effects of mobile banner ads. In this paper, we fill this gap by determining the offline and online sales impact of a large-scale mobile banner advertising campaign. As part of a geographical field experiment, over 3.5 million mobile banner ads were served to a predetermined geographical area. We determine the offline and online sales effects of the mobile banner ad campaign by analyzing twenty months of sales data for regions covering the entire country of the Netherlands. Relying on a difference-in-difference …

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The International Penetration Of Ibusiness Firms: Network Effects, Liabilities Of Outsidership And Country Clout, Liang Chen, Noman Shaheer, Jingtao Yi, Sali Li Mar 2019

The International Penetration Of Ibusiness Firms: Network Effects, Liabilities Of Outsidership And Country Clout, Liang Chen, Noman Shaheer, Jingtao Yi, Sali Li

Research Collection Lee Kong Chian School Of Business

The burgeoning of ibusiness firms in the modern digital economy challenges the received internationalization theory. Given that ibusinesses such as social networking sites create value by providing a digital platform for users to interact with one another, we employ a user-network perspective and externalization logic, suggesting that ibusinesses' internationalization process depends critically on users' collective interactions, instead of being solely driven by firms' market commitments, as noted by the Uppsala model. However, ibusinesses may suffer from liabilities of outsidership due to the boundedness of international network effects. Drawing on social network theory, we demonstrate that such liabilities can be mitigated …

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Why Are Americans So Divided On Refugee Policy?, Shilpa Madan, Shankha Basu, Aneeta Rattan, Krishna Savani Mar 2019

Why Are Americans So Divided On Refugee Policy?, Shilpa Madan, Shankha Basu, Aneeta Rattan, Krishna Savani

Research Collection Lee Kong Chian School Of Business

The U.S. will resettle the lowest number of refugees in fiscal year 2019 since the Refugee Act was passed in 1980. After taking office, President Donald Trump reduced the admission limit from 110,000 in 2017 to 45,000 in 2018, and to 30,000 in 2019. The reduction is not a result of fewer refugees seeking resettlement. On the contrary, the number of people seeking resettlement is on the rise.

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Installed Base Management Versus Selling In Monopolistic And Competitive Environments, Shantanu Bhattacharya, Andreas Robotis, Wassenhove Luk N. V. Van Mar 2019

Installed Base Management Versus Selling In Monopolistic And Competitive Environments, Shantanu Bhattacharya, Andreas Robotis, Wassenhove Luk N. V. Van

Research Collection Lee Kong Chian School Of Business

This paper compares the policy of selling a product to that of installed base management, in which the manufacturer leases the product to consumers, and bundles repair and maintenance services along with the product. We compare the two policies in a monopolistic setting when a firm uses either one of the policies, and when both policies are used by a single firm. We then compare the policies under competition first when two firms use identical products, and when two firms use vertically differentiated products. Our findings indicate that the selling option dominates the installed base option in a monopolistic environment, …

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Implementation Of A Multi-Agent Environmental Regulation Strategy Under Chinese Fiscal Decentralization: An Evolutionary Game Theoretical Approach, Ke Jiang, Daming You, Ryan Knowles Merrill, Zhendong Li Mar 2019

Implementation Of A Multi-Agent Environmental Regulation Strategy Under Chinese Fiscal Decentralization: An Evolutionary Game Theoretical Approach, Ke Jiang, Daming You, Ryan Knowles Merrill, Zhendong Li

Research Collection Lee Kong Chian School Of Business

Evolutionary game theory (EGT) provides a powerful tool with which to unpack the interactive strategies of polluting enterprises (PEs), local government regulators (LG), and central government planners (CG) in China. Here, the prevailing institutional system of fiscal decentralization sees regulatory mandates set by the CG and enforced at the LG level. This delegation shapes managers' incentives when deciding the degree to which firms will incur costs to reduce pollution and comply with state directives. Manager's choice sets draw shape from decisions at the LG level, where regulators balance the pursuit of environmental quality with the economic payoffs of tacit collusion …

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A Closer Look At Response Options: Is Judgment In Situational Judgment Tests A Function Of The Desirability Of Response Options?, Katarina Kaminski, Jorg Felfe, Philipp Schaepers, Stefan Krumm Mar 2019

A Closer Look At Response Options: Is Judgment In Situational Judgment Tests A Function Of The Desirability Of Response Options?, Katarina Kaminski, Jorg Felfe, Philipp Schaepers, Stefan Krumm

Research Collection Lee Kong Chian School Of Business

The current study builds on the current scholarly debate about SJTs potentially being less situational than previously assumed. Specifically, we respond to recent calls to examine general (situation unspecific) information included in response options as a guide to SJT responses. Across three consecutive studies and three different forms of SJT administration (standard, without situation descriptions, under fake-good instructions), the relevance of social desirability of response options on SJT responses was examined. Results suggest that social desirability of response options is significantly related to test takers' response. This finding generalized across different forms of SJT administration. Across studies and together with …

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Corn, Soybeans Or Fallow: Dynamic Farmland Allocation Under Uncertainty, Onur Boyabatli, Javad Nasiry, Yangfang (Helen) Zhou Mar 2019

Corn, Soybeans Or Fallow: Dynamic Farmland Allocation Under Uncertainty, Onur Boyabatli, Javad Nasiry, Yangfang (Helen) Zhou

Research Collection Lee Kong Chian School Of Business

This chapter develops a theoretical basis for understanding the trade-offs facing a farmer for allocating his farmland among several crops over multiple growing seasons. Specifically, we focus on the farmland allocation among two cash crops (corn and soybeans) and letting the farmland lay fallow to rejuvenate the soil and increase the revenue for the crop grown on this farmland in the subsequent seasons. In each growing period, the farmer chooses the allocation in the presence of revenue uncertainty for each cash crop, and crop rotation benefits across periods, where revenue is stochastically larger and farming cost is lower when a …

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