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2007

WCBT Faculty Publications

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Articles 1 - 21 of 21

Full-Text Articles in Business

American Index Put Options Early Exercise Premium Estimation, Ako Doffou Dec 2007

American Index Put Options Early Exercise Premium Estimation, Ako Doffou

WCBT Faculty Publications

"This paper examines empirically the value of early exercise by testing the ability of two American put valuation models to predict the early exercise premium for the S&P 100 American put options. An accuracy test and a quality test are performed on (1) the MacMillan (1986) & Barone-Adesi and Whaley (1987) model, and (2) the Carr, Jarrow and Myneni(1992) model. The test results show that early exercise premium is significant regardless of moneyness. Moreover, consistent with the theory, the value of early exercise is significantly negatively related to moneyness and interest rates and significantly positively related to time to maturity …


From Workout To Winning, Bridget Lyons, Robert Hardy Nov 2007

From Workout To Winning, Bridget Lyons, Robert Hardy

WCBT Faculty Publications

Over the past three years, executives at General Electric (GE) have taught administrators at Sacred Heart University, located in Fairfield, CT, how to use the workout technique to identify and improve inefficient institutional processes and practices. This article will explain how Sacred Heart implemented the workout process, with a particular emphasis on factors contributing to successful workouts and the issues nonprofits encounter. GE has credited the workout with both improving processes and empowering the workforce. The workout, which has led to accelerated change and enhanced Six Sigma efforts, begins with identifying a problem. Many at GE note that the workout …


Essays On Risk And Incentives, Russell Engel Oct 2007

Essays On Risk And Incentives, Russell Engel

WCBT Faculty Publications

I use economic experiments to investigate individual behavior under uncertainty. The first essay examines the consistency of risk preferences over two institutions. The two institutions I use are the first price sealed bid auction and a Holt-Laury lottery. There is some controversy as to whether or not observed overbidding in first price auction is actually caused by risk aversion or simply consistent with it. Behavior in the Holt-Laury lottery being caused by risk aversion is not in dispute. By having the same subjects participate in both institutions, I show that subjects.risk preferences in the lottery are consistent with subjects' risk …


Fostering Entrepreneurship: Developing A Risk-Taking Culture In Singapore, Balbir B. Bhasin Oct 2007

Fostering Entrepreneurship: Developing A Risk-Taking Culture In Singapore, Balbir B. Bhasin

WCBT Faculty Publications

About 10 years ago the Singapore Government realized that entrepreneurial spirit was lacking in its general population. These conclusions were confirmed by an empirical survey, the Global Entrepreneurship Monitor (GEM), an annual assessment of the national level of entrepreneurial activity. The paternalistic and authoritative approach of the government contributed to the general population's averseness to participating in risk-oriented ventures. Removing impediments to entrepreneurship is a key challenge for the government and the business sector if the island republic is to maintain its national competitiveness. This article explores the various initiatives taken by the government to stimulate risk-taking and attempts to …


The Business Of Christianity: The Growing Market For Everything Christian, Peter A. Maresco Oct 2007

The Business Of Christianity: The Growing Market For Everything Christian, Peter A. Maresco

WCBT Faculty Publications

In 2008, McFarland Publishers, Inc. of Jefferson, North Carolina is scheduled to publish my book: The Business of Christianity: The Growing Market for Everything Christian. The premise of this book is to elaborate in some detail how entrepreneurs are marketing products and services to the Christian consumer that have never been marketed before. Before going into what these products and services are, I should point out that these markets have always existed. The difference is, however, that with the attention given to, Evangelism, the religious right and the growth of mega-churches, those with memberships in excess of 2,000, businessmen and …


How Can Anyone Lead Others Until They Are Ready To Lead Themselves?, Peter A. Maresco Jul 2007

How Can Anyone Lead Others Until They Are Ready To Lead Themselves?, Peter A. Maresco

WCBT Faculty Publications

A personal narrative is presented which explores the author's experience on the quality of personal leadership.


Alternative Measures Of Corporate Liquidity, Ralph Lim Jul 2007

Alternative Measures Of Corporate Liquidity, Ralph Lim

WCBT Faculty Publications

The study has shown that perhaps management, securities analysts and other interested parties should consider using adjusted liquidity ratios to better analyze firms in the industries such as defense/aerospace.


What Leaders Can Learn From Athletics: Inconsistencies Between Leadership In Sports And Leadership In Corporations, Peter A. Maresco Jul 2007

What Leaders Can Learn From Athletics: Inconsistencies Between Leadership In Sports And Leadership In Corporations, Peter A. Maresco

WCBT Faculty Publications

The article discusses how the individual performance affect the performance of the rest of the members of the team. The author cites from the perspective of a baseball player or any other team sport where the actions of one affect the actions of the other members. Each player is familiar with the rules, knows exactly what to do when it come to playing their position, and each person on the team is fully aware of the impact their performance will have on the other members of the team. Therefore, business leaders should hire individuals who are already familiar with their …


Information Systems (Is) Connectivity As A Moderator Of The Effects Of Is Support For Information Interpretation On Firm Performance: An Empirical Study, Michael J. Zhang Jun 2007

Information Systems (Is) Connectivity As A Moderator Of The Effects Of Is Support For Information Interpretation On Firm Performance: An Empirical Study, Michael J. Zhang

WCBT Faculty Publications

This study examined and tested the roles of information systems (IS) connectivity in influencing the performance impacts of IS support for information sharing and IS support for information interpretation. Using data collected from a survey of large U.S. firms and the Research Insight (Compustat) database, the results showed that when IS connectivity was high, IS support for information sharing was positively related to profitability whereas IS support for information interpretation was negatively associated with profitability. These findings suggest that a high level of IS connectivity is a two-end sword for firms which rely on both IS support for information sharing …


Leadership And Recruitment: What Leaders Can Learn From Coach Robert Montgomery Knight, Peter A. Maresco Apr 2007

Leadership And Recruitment: What Leaders Can Learn From Coach Robert Montgomery Knight, Peter A. Maresco

WCBT Faculty Publications

The article discusses the leadership style of coach Robert Knight that can be adapted by business leaders in recruiting and managing their employees. Background information about Knight is presented. It is said that Knight believes that coaching is motivation and leadership and understanding human nature. According to the author, Knight is concerned with creating an environment where helping co-workers work to their fullest is the norm. Some additional insights into the leadership philosophy of Knight are presented.


“Go Live In ’05”—From Hierarchy To Shared Governance In Higher Education, Peter A. Maresco Apr 2007

“Go Live In ’05”—From Hierarchy To Shared Governance In Higher Education, Peter A. Maresco

WCBT Faculty Publications

Higher education is in the midst of a major transformation evidenced by several factors: greater demands from stakeholders; pressure to increase student enrollment, financial uncertainty, limited resources, and a responsibility to contribute to the community’s civic and economic development. Faculty and staff in higher education are challenged to deliver education in innovative ways. This innovation requires an expedient method of governance and necessitates careful examination of the organization’s structural, cultural, and decision-making processes. To meet these demands, leaders in higher education must examine decision-making processes and design governance models that respond quickly and efficiently to their myriad of constituents.


Using Teen Chick Lit Novels To Teach Marketing, Peter A. Maresco Apr 2007

Using Teen Chick Lit Novels To Teach Marketing, Peter A. Maresco

WCBT Faculty Publications

This paper will outline how the author uses the sub-genre of teen fiction referred to as teen chick lit to teach students the marketing concept known as product placement. The paper provides the rationale for using fictional teen focused novels as a vehicle for teaching product placement as well as an overview of the teen chick lit genre. A discussion of the value of using teen fiction in class, student project, its success and issues raised are also discussed.


Reflections On A Seminal Force In International Accounting, Karen Cascini Feb 2007

Reflections On A Seminal Force In International Accounting, Karen Cascini

WCBT Faculty Publications

Accounting is a manifestation of several important environmental factors within a country, including economic, educational and political, and, as such, is evolutionary in accordance with those changing social structures. In today‟s ever expanding global economy, the understanding of international aspects of accounting is critical to understanding world events and the way in which they affect our lives. As new nations and new economic powers emerge, continually updated information, including accounting information, is an essential resource for linking an internal accounting system with worldwide systems. Because of the major impact that international accounting has had on countries‟ internal accounting systems, it …


Endorser Source Credibility: Redefining Spokesperson Influence Through Development Of The Celebrity-Hero Matrix, Joshua Shuart Jan 2007

Endorser Source Credibility: Redefining Spokesperson Influence Through Development Of The Celebrity-Hero Matrix, Joshua Shuart

WCBT Faculty Publications

Endorsement of sport and non-sport products by athletes is an extremely popular method that corporations use to drive sales and advertising. Traditionally, celebrity endorsement research has focused on the physical attractiveness of the endorser; while this makes sense, it provides only a partial explanation why consumers purchase athlete-endorsed products. Several other components of source credibility, as well as previously unexplored elements such as "heroic" traits, prove to be stronger predictors of intent-to-purchase. A 3-phase research study of Americans aged 18-35 was conducted, with a Celebrity-Hero Matrix© (CHM) developed and several marketing recommendations made based on the findings.


On The Importance Of Coping: A Model And New Directions For Research On Work And Family, Cynthia A. Thompson, Steven A. Y. Poelmans, Tammy D. Allen, Jeanine K. Andreassi Jan 2007

On The Importance Of Coping: A Model And New Directions For Research On Work And Family, Cynthia A. Thompson, Steven A. Y. Poelmans, Tammy D. Allen, Jeanine K. Andreassi

WCBT Faculty Publications

In this chapter, we review empirical research evidence regarding coping and work–family conflict. Limitations and gaps associated with the existing literature are discussed. Of special note is the finding that there is little systematic research that examines the process of coping with work– family conflict. Building on the general stress and coping literature, we present a theoretical model that is specifically focused on the process of coping with work–family conflict, and highlight presumed personal and situational antecedents. Finally, the chapter concludes with an agenda for future research.


Periodically Collapsing Bubbles In The Asian Emerging Stock Markets, Ako Doffou Jan 2007

Periodically Collapsing Bubbles In The Asian Emerging Stock Markets, Ako Doffou

WCBT Faculty Publications

This paper investigates empirically the existence of periodically collapsing bubbles in the Asian emerging stock markets using the Enders-Siklos (2001) momentum threshold autoregressive model. As explained in Bohl (2003), this non-linear time series technique can be used to analyze bubble driven run-ups in stock prices followed by a crash in a non- cointegration framework with asymmetric adjustment. This technique offers a more potent insight in the stock prices behavior than can possibly be obtained using conventional non-cointegration tests. The empirical findings for ten Asian emerging stock markets from 1993 to 2005 refute the bubble hypothesis.


Assessing The Performance Impacts Of Information Systems From The Resource-Based Perspective: An Empirical Test Of The Indirect Effect Of The Is, Michael J. Zhang Jan 2007

Assessing The Performance Impacts Of Information Systems From The Resource-Based Perspective: An Empirical Test Of The Indirect Effect Of The Is, Michael J. Zhang

WCBT Faculty Publications

Research into the strategic impacts of information systems (IS) from the resource-based view of competitive advantage has increasingly embraced the indirect effect of IS on firm performance; that is, IS interact with other complementary organizational resources in influencing firm performance. Using both survey and archival data, this study set out to test the indirect effect of IS and determine the complementary organizational resources contributing to IS impacts on firm performance. The results provide additional evidence in support of the indirect performance effect of IS. Specifically, the study found that the performance impacts of IS arose from their interactions with firm-specific …


Critical Success Factors For E-Commerce In Thailand: Cultural And Infrastructural Influences, Kittipong Laosethakul, William Boulton Jan 2007

Critical Success Factors For E-Commerce In Thailand: Cultural And Infrastructural Influences, Kittipong Laosethakul, William Boulton

WCBT Faculty Publications

The main purposes of this paper are to identify critical success factors (CSFs) for electronic commerce (e-commerce) in Thailand and explain the major influences behind these factors. Detailed case studies of nine e-commerce companies from different industries in Thailand were conducted. Results showed that social behavior and national culture, more specifically issues pertaining to trust and shopping behavior, were the major influences for the success of e-commerce in Thailand. The phenomenon could be partly explained by Hofstede’s cultural dimensions. Thailand’s infrastructure also played an important role in the success of its e-commerce development. The findings provide a framework to guide …


Developing Critical Thinking Skills In The Intermediate Accounting Class: Using Simulations With Rubrics, Karen Cascini, Anne Rich Jan 2007

Developing Critical Thinking Skills In The Intermediate Accounting Class: Using Simulations With Rubrics, Karen Cascini, Anne Rich

WCBT Faculty Publications

A challenge of paramount importance facing college professors today is the development of students’ capacity for critical thinking skills. While this has long been an area of focused activity for educators, since the early 1980s in particular, it has become clear that critical thinking skills are essential to the ability of our students to compete globally. As teachers and professors at all levels have begun to focus greater attention on ways to develop critical thinking skills, we see the same trend reflected within the accounting profession. Research by Kealy (2005), Bonk (1998), Wolcott (1997), Kimmel (1995), and Doney (1993) demonstrates …


Heroes In Sport: Assessing Celebrity Endorser Effectiveness, Joshua Shuart Jan 2007

Heroes In Sport: Assessing Celebrity Endorser Effectiveness, Joshua Shuart

WCBT Faculty Publications

The use of celebrities, and particularly athletes, to influence consumers and sell products is not a new practice, but one that is gaining considerable steam in the sports marketplace. However, many academics and practitioners have long questioned the means by which celebrity endorsement is measured and evaluated. Through the use of validated surveys among US students and the inauguration of the Celebrity-Hero Matrix (CHM), some of their questions are answered. Being labelled a 'heroic' athlete does, it seems, have tremendous power for marketers, and provides endorsement clout for the athlete.


Is Support For Top Managers' Dynamic Capabilities, Environmental Dynamism, And Firm Performance: An Empirical Investigation, Michael J. Zhang Jan 2007

Is Support For Top Managers' Dynamic Capabilities, Environmental Dynamism, And Firm Performance: An Empirical Investigation, Michael J. Zhang

WCBT Faculty Publications

Despite a continual interest in developing information systems (IS) to support the work of top managers, assessing the impact of IS support for top managers and their capabilities on the bottom-line performance of firms has received little attention in existing literature. Drawing upon the resource based view of competitive advantage, this paper argues that firms that provide IS support for their top managers’ dynamic capabilities may enjoy competitive advantage and superior firm performance. The performance impact of IS support for two key dynamic capabilities of top managers (fast response and mental model building) under different (dynamic vs. stable) external environments …