Business Commons^™

“Megadeal” Subsidies, Local Spillovers And Corporate Innovation, Yoojin Lee, Shaphan Ng, Aruhn Venkat

Research Collection School Of Accountancy

We examine whether the largest place-based, firm-specific corporate subsidies (“Megadeals”) awarded by state and local governments affect local firms’ innovation. First, we document that 1) subsidy firms innovate in the subsidized county and 2) subsidy firms bring inventors from other counties into the subsidized county, consistent with subsidy firms generating new knowledge locally. In our main test, we use a stacked cohort design with stringent fixed effects to document that local firms increase patenting following a Megadeal. Cross-sectionally, effects are increasing 1) in subsidy firm innovativeness, 2) in the technological closeness of subsidy firms and local firms, 3) when subsidy …

Attention To Detail: How Do Information Users Process Exhibits In Form 10-K?, Stephanie F. Cheng, Yimeng Li, Pengkai Lin

Research Collection School Of Accountancy

Form 10-K offers a setting for studying how users process complex, multi-layered disclosures: managerial narratives in the main file alongside separate exhibits, such as contracts and certifications, that provide unfiltered detail. Drawing on rational inattention theory, we investigate how users allocate limited attention across these components. Users typically begin with the main file and selectively access exhibits when the main file appears shorter, less readable, or less confident, indicating higher perceived information loss. This pattern strengthens for exhibits that offer more detail on topics discussed in the main file and among institutional investors and time-constrained users. Exhibit access persists beyond …

Moving Beyond Entry Modes: Toward A New Paradigm Of International Involvement In An Era Of Digitalization And Global Transitions, Noman Shaheer, Sali Li, Liang Chen, Keith D. Brouthers, Dan Li, Peter Liesch

Research Collection Lee Kong Chian School Of Business

We seek to reconceptualize internationalization strategy by shifting focus from static, single-entry mode choices to dynamic constellations of multiple involvement modes. In an era of rapid technological change enabled by artificial intelligence, blockchain, and robotics, geopolitical volatility fueled by trade wars and violent conflicts, and increasing sustainability demands, multinational corporations (MNCs) need to rethink how they are involved with diverse stakeholder expectations, prioritize flexibility and reversibility, and embed co-creation and legitimacy alongside efficiency. Extending Brouthers et al. (2022), we integrate transaction cost economics with resource-based, institutional, opportunity, and ecosystem perspectives to explain how MNCs configure and reconfigure various constellations of …

The External Influence Of International Business Scholarship: Growth, Stabilization, Or Decline?, Gokhan Ertug, Andrew Delios, Yi Li, Zhengchu Zhang

Research Collection Lee Kong Chian School Of Business

The influence of international business (IB) scholarship is an active debate (e.g., Bello & Kostova, 2012; Cantwell et al., 2014, 2016; Doh et al., 2023; Tung et al., 2023). Although IB research has expanded in the number of publications, in its sophistication of research design, and in its thematic breadth over the past decades, questions remain regarding its influence beyond the core ecosystem of IB journals. Anecdotally, a pessimistic view has become more commonplace. The concern is that IB has become increasingly self-referential, relying more heavily on IB-related theory extensions and context-specific settings, which could limit its resonance in the …

Settlement Manipulation In Prediction Markets, David Dai, Ruizhe Jia, Shihao Yu

Research Collection Lee Kong Chian School Of Business

Prediction markets increasingly list contracts settling on an asset price that holders can move by trading the underlying. We build a model showing that such contracts transfer wealth from prediction-market liquidity traders to manipulators and harm price discovery in the underlying, even as it becomes more liquid. After the launch of Polymarket's five-minute Bitcoin contract, settlement-time spot order flow spikes, causing large price reversals after settlement. Manipulators capture a large amount of profit, mostly from retail. Manipulation is largely absent in the fifteen-minute contracts: lengthening the contract horizon removes it, providing the market-design remedy our model and evidence support.

Educational Content Creation For Non-Textbook Learning Resources, Dorina Tila

Open Educational Resources

These are materials that will be supporting faculty teaching and students enrolled in ECO 1200: Macroeconomics. Some items are also helpful in other economics, finance, and business classes. The set includes:

• Customized Summaries of Modules,
• Up-to-date Case Examples and Assignments
• Economic Experiments and Game Designs and Instructions,
• Instructions that Ethically and Effective Use Generative AI

Empowering Lifelong Choice: Supporting Older Individuals With Idd To Thrive At Work, Transition To Retirement With Dignity, And Maintain Community Connections, Leslie Quarles

Critical and Creative Thinking Capstones Collection

This synthesis addresses the need to support older individuals with intellectual and developmental disabilities in their engagement in continued work. The project traces the journey from an initial focus on supporting older individuals with intellectual and developmental disabilities to work as long as they wish to an eventual shift toward a phased retirement approach. It considers issues such as a reimagined visualization of the support team structure, integration of tailored job supports and Community Life Engagement (CLE). The author's familial history sparked a sense of injustice that would not stay buried, shaping a career path in disability services and access. …

Investment Decision Making, Muhammad Yaseen, Di Wu

Open Educational Resources

A newly established commercial bank, founded in 2021, has accumulated excess capital reserves. The bank is evaluating long-term investment options to deploy this capital in a way that balances growth and risk. The investment committee is considering two primary strategies: investing in a diversified technology-focused ETF, QQQ, or investing directly in selected individual technology stocks.

The bank's senior management wants capital growth, but it also needs to manage risk exposure. A bank cannot treat an investment decision only as a search for the highest return. It must also consider volatility, concentration risk, liquidity, downside periods, and whether the strategy fits …

German Energy Crisis, Liomar Jimenez, Malachy Mclaughlin, Muhdee Nawab, Mouhamed Sarr, Di Wu

Open Educational Resources

For most of the twentieth century, nuclear energy was the quiet backbone of Germany's electricity system. At its peak in 1997, nuclear power supplied over 31 percent of all electricity generated in the country. It was a reliable, low-cost source that kept German industries competitive across Europe. The country's industrial base, including automakers, chemical producers, and heavy manufacturers, depended on affordable, stable power. Nuclear delivered exactly that.

The political climate changed in the late 1990s. After years of advocacy based on concerns about nuclear waste and reactor safety, the Green Party joined the Social Democrats to form the Red-Green Coalition …

Credit Card Analysis, Di Wu

Open Educational Resources

A credit card business unit at a bank is facing a retention problem. More customers are leaving the bank's credit card services, and the retention manager wants to identify which customers are most likely to churn so the bank can intervene before the account is lost.

The bank has customer demographic, relationship, and transaction data for more than 10,000 credit card customers. The data includes age, gender, education, income category, card category, months on book, customer inactivity, contact frequency, credit limit, revolving balance, transaction amount, transaction count, and whether the customer attrited.

You are a business analyst on the bank's …

Smartphone Usage, Charles Howard, Josiah Nkele, Berner Hernandez, Di Wu

Open Educational Resources

A major smartphone company is studying how smartphone usage affects users' stress, productivity, and sleep habits. As part of the product development team, you have been assigned to analyze user behavior data to help create digital wellness features that improve the overall user experience.

The company has collected behavior data from over 50,000 users to better understand how smartphone habits may influence focus, stress, and performance. By exploring this data, the team hopes to discover patterns that can guide healthier digital usage and create a better balance between daily life and technology use.

Senior product managers are considering several possible …

Airbnb Studies, Fatoumata Diabate, Maria Estevez, Jaliah Fabre, Di Wu

Open Educational Resources

In the high-stakes world of short-term rentals, Homeland Sellers serves as an advisory firm for property buyers navigating the global Airbnb market. Historically, investors in the sector have often been led by intuition and gut feeling. That is a dangerous strategy in an increasingly regulated environment. To protect capital, Homeland Sellers is transitioning to a more rigorous, data-driven investment model.

Aspiring hosts face a minefield of financial and legal hurdles. Ignoring local HOA restrictions, fluctuating property tax structures, or strict licensing requirements can create serious risk for net operating income. Beyond regulatory compliance, investors must also account for guest appeal …

Staffing Decisions At Gabriana Cup, Ana Jimenez, Edith Oblitas, Gabriela Pena Guzman, Adriana Valdivia, Di Wu

Open Educational Resources

Labor costs are one of the largest operational costs in the service industry. Overstaffing increases expenses unnecessarily, and understaffing reduces service quality and customer satisfaction. You are a business operations analyst working for Gabriana Cup, a local coffee shop. The owner has observed that certain hours appear significantly busier than others, creating operational pressure during peak times. The owner would like to reduce unnecessary labor costs and optimize Gabriana Cup's staffing practices.

Staffing schedules are currently based on assumptions rather than historical sales patterns, costing the coffee shop owner through wasted inventory, overstaffing, understaffing, and unnecessary labor costs. The coffee …

Netflix Content Strategy, Di Wu

Open Educational Resources

Netflix operates in a highly competitive streaming market where content strategy directly affects subscriber acquisition, retention, brand positioning, and international growth. A streaming platform cannot simply add more titles indefinitely. Content licensing, production budgets, regional demand, maturity ratings, and genre balance all shape which titles should be prioritized.

You are a content strategy analyst on Netflix's global catalog planning team. Senior management is preparing the next annual content review and wants a data-supported recommendation about how the catalog should be positioned. The team is especially interested in whether Netflix should continue emphasizing movies, expand TV shows more aggressively, prioritize specific …

Generating A Bond Option Binomial Tree Model In Excel, Tom Arnold, C. Mitchell Conover, Joseph Farizo, Nancy Tran

Finance Faculty Publications

We demonstrate how to adjust the Katolay, Williams, and Fabozzi (1993) binomial tree model for pricing option-embedded bonds to have separate binomial trees for the forward rate process and for the component bond prices (actual bond prices or derived from a yield curve).  This reduces computational complexity at a given node within a single binomial tree.  Further, the calibration method is performed on “spine” values for the forward rate binomial tree, which is more consistent with the actual forward rates that are utilized as initial values in the calibration process.  The entire model is produced in Excel and uses new …

Lindenwood To Host St. Charles County Executive Debate, Lindenwood University

Archived Lindenwood Press Releases

No abstract provided.

The Effect Of Incidental Emotions On Self-Control: An Examination Using A Need-Based Choice Model, Shruti Koley

Business Faculty Publications and Presentations

Purpose – The purpose of this paper is to develop a framework that examines the effects of incidental emotions on choices in self-control dilemmas. The framework predicts that the effect of emotions depends on the hedonic and non-hedonic needs they activate and the extent to which emotional consumers expect the virtuous and gratifying options in the choice dilemma to facilitate these needs (i.e. their instrumentality toward the activated needs). The framework helps develop propositions for the self-control effects of six commonly experienced emotions: happiness, sadness, pride, guilt, anger and anxiety. Design/methodology/approach – The author uses a choice model to develop …

Do Complex Models Matter? Evidence From Multiclass Machine Learning Models In Credit Outlook Prediction, Rashmi Malhotra, Davinder K. Malhotra, Robert Nydick, Nathan Coates

College of Business Faculty Papers

This research explores whether boosting model complexity enhances the forecasting of corporate financial outlook in a multiclass credit outlook setup. Instead of viewing distress as simply a yes-or-no result, companies are divided into negative, neutral, and positive outlook categories to better reflect shifting credit conditions. The study evaluates a parametric baseline against several nonlinear classifiers—including ensemble, kernel-based, and similarity-driven approaches—while applying a consistent validation process and statistical testing. On average, nonlinear models outperform the linear specification in terms of out-of-sample accuracy and provide more homogeneous classification across the three outlook categories. Importantly, they substantially improve the identification of firms with …

Ruby Leigh To Perform At The J. Scheidegger Center, May 29, Lindenwood University

Archived Lindenwood Press Releases

No abstract provided.

If You’Re Doing This Correctly, There Is A Cost: An Exploration Of The Work–Family Trade-Off Of Female Academics In Australia, Fleur Sharafizad

Research outputs 2022 to 2026

Purpose: This paper aims to explore how the gendered structures and expectations of neoliberal academic institutions inform and shape work–family trade-off considerations for women academics in Australia. It also sheds light on how these negotiations, and at times, the ensuing career or family gap, are experienced. In doing so, the paper deepens our understanding of the systematic barriers which do not only lead to gender inequalities in academia but also have broader individual and social implications. Design/methodology/approach: This exploratory study is based on qualitative semi-structured interviews, which were thematically analysed to identify how female academics navigate the expectations associated with …

Mitigating The Effects Of Ceo Overconfidence: A Group Information Processing Perspective, Jun Xu, Lin Li, Haibo Liu, Wanrong Hou, Qi Zhu

Management Faculty Publications

Research Question/Issue

This study explores the moderating effects of board network centrality on the relationship between CEO overconfidence and acquisition intensity.

Research Findings/Insights

Using a panel of S&P 1500 firms from 2002 to 2018, we find that CEO overconfidence is positively associated with acquisition intensity. This relationship is weakened when boards occupy more central positions in the interlocking director network. Furthermore, this mitigating effect is stronger when (1) connected firms exhibit greater variability in acquisition intensity, (2) directors maintain stronger internal social connections, and (3) boards have greater female representation.

Theoretical/Academic Implications

We conceptualize board network centrality as enhancing information …

Private Languages, Jeremy Bertomeu

Olin Business School Faculty Research

Strategic communication often relies on anchors observed by the sender but not by the receiver. An analyst may report against a proprietary valuation model, an auditor against an internal score, a manager against an accounting estimate, or an institution against its own standard. I study a sender-receiver game in which reports are costly to move away from such privately observed anchors. Anchor heterogeneity changes the geometry of communication. Rather than relying on partitions, privately anchored reporting generates continuous variation in messages because different senders find different reports costly to make. This mechanism can improve information transmission, but it can also …

The Impact Of Sovereign Wealth Funds On Emerging Markets: A Behavioral Analysis Of Investment Decisions And Market Reactions, Grant A. Mosshart

Senior Honors Theses

Sovereign Wealth Funds (SWFs) are increasingly influential in emerging markets, yet the behavioral drivers behind their investments remain underexplored. In this paper, an analysis of SWF capital’s impact on economic development and the psychological factors, such as optimism bias and herding, that shape these decisions is examined. Utilizing a mixed-methods comparative study, the research analyzes Saudi Arabia’s Public Investment Fund (PIF) and Singapore’s Temasek Holdings. Event study analysis reveals a divergent impact: the PIF’s high-profile developmental commitment to India generated a positive 5-day Cumulative Abnormal Return of +2.05%, confirming a macro-level “seal of approval” signaling effect. By contrast, Temasek’s commercially …

The Business Next Door: Howard Miller: The Man And His Namesake Company, Steve Vanderveen

University Faculty Publications and Creative Works

The Howard Miller Co., known as the world’s largest manufacturer of grandfather clocks and maker of fine chiming mantel and wall clocks, curio cabinets, and home furniture, recently closed its doors. Thankfully, a private firm is resurrecting its name. Here is why that name has value.

Economic Perspectives On Medical Training: A Specialty-Level Break-Even Analysis For Wayne Trained Physicians, Michael Niculcea, Joseph Kunnappilly, Isaak Miller, Connor Genschaw, Biola Makinde-Odusola

Medical Student Research Symposium

Title:

Economic Perspectives on Medical Training: A Specialty-Level Break-Even Analysis for Wayne Trained Physicians

Michael Niculcea, Joseph Kunnappilly, Isaak Miller, Connor Genschaw, Biola Makinde-Odusola

Background:

U.S. medical students graduate with high educational debt, yet financial literacy remains overlooked in medical school curricula. Trainees enter residency with a limited understanding of how specialty and loan repayment strategies affect long-term finances. Break-even analysis, which identifies when total revenue exactly offsets total costs, can help students at Wayne State University School of Medicine (WSUSOM) better visualize the factors shaping their financial futures.

Methods:

This analysis assumes 4 years of medical school financed entirely …

Celebrating Academic Excellence The 2026 Lindenwood Showcase, Lindenwood University

Archived Lindenwood Press Releases

No abstract provided.

The Joy Of Shopping: Thrill Of The Treasure Hunt, Jane Gu, Cristina Nistor, Matthew Selove

Business Faculty Articles and Research

People sometimes enjoy the thrill of the hunt, which implies search can generate joy in addition to costs. Some customers say they enjoy searching for unique items such as vintage T-shirts and luxury handbags, and managers at warehouse stores, thrift stores, and many online selling platforms say they design their store format to offer a treasure hunt experience. We develop a model in which customers enjoy searching for a treasure. Our model’s search utility function includes a term based on the treasure’s net value, a term based on the instantaneous likelihood of discovering treasure, and a constant term reflecting other …

Second Annual Advances In Business Education Conference 2026 Proceedings, Kelsey Metz

Advances in Business Education (ABE) Conference Proceedings

Conference Overview: The Second Annual Advances in Business Education (ABE) Conference was held on May 21–22, 2026, at Lincoln Memorial University in Harrogate, Tennessee. Hosted by the LMU School of Business, the ABE Conference exists to promote teaching excellence, scholarly inquiry, and regional engagement through innovation and collaboration in business education.

With a focus on fostering meaningful dialogue among educators, researchers, students, and industry professionals, the conference welcomed more than 70 attendees representing 11 institutions from across the Appalachian region and beyond.

The event was structured around four key tracks:

Pedagogy and Teaching Excellence: Showcasing innovative teaching methods, instructional technologies, …

Hedonics Of Used Car Attributes On Market Price, Alexander Bent, Jason Gutierrez

Undergraduate Economics Working Paper Series

This paper uses Rosen's paper on hedonic pricing as a framework to analyze the determinants of used car prices found in Craigslist. Using cleaned data, we observe over 43,000 listings from 2005 to 2020 and investigate factors that affect used car prices and how they interact in this market. Results show that odometer readings and condition are the strongest factors that determine price, while manufacturers, paint color, drive type, fuel type, size, and year have more ambiguous effects that depend on certain perceived attributes or conditions.

Key Determinants Of Diamond Value, Tobey Brill, Alexander Dobrovolskyi, Rayland Labayog

Undergraduate Economics Working Paper Series

This paper intends to examine the determinants of diamond pricing using a hedonic regression framework. Using the diamonds dataset from Wickham (2016), we analyze the four C’s, also known as carat weight, cut, color, and clarity. We also wanted to go deeper into this topic and look into the depth and table to see how it impacts diamond pricing. Results have displayed that carat weight greatly influences a diamond’s price, while characteristics such as clarity, color, and cut exert positive effects. Estimates were found to be statistically significant. Our findings confirm and reassure the idea that hedonic pricing accurately captures …