Business Commons^™

Investors Reactions To Competitive Actions Among Rivals: A Step Toward Strategic Asset Pricing Theory, Margaret Vardell Hughes

University of Kentucky Doctoral Dissertations

This dissertation describes the development and empirical testing of strategic asset pricing theory (STRAPT). This explains the processes by which investors form ideas and judgments about a given firm‘s competitive strategy, and their ultimate belief about the impact these strategies will have on the firm‘s future stock price. My model explicitly accounts for information investors associate with dimensions of a firm‘s pattern of competitive actions, how investors process and interpret this information, and how they form opinions about the relationship between competitive strategy and future value of the firm‘s equity shares. Thus, by accounting for observed competitive behavior, my model …

The Determinants Of Analyst-Firm Pairings, Lihong Liang, Edward J. Riedl, Ramgopal Venkataraman

Accounting - All Scholarship

This paper explores the determinants of observed analyst-firm pairings. We adopt an analyst/brokerage house perspective that allows us to examine not only firm-level characteristics as in prior research, but also attributes of the analyst and the analyst’s brokerage house that may drive these pairings. Our empirical analyses provide two primary insights. First, analyst characteristics such as industry expertise and relative experience, and brokerage house characteristics such as continuity of coverage, are associated with the decision to follow a firm. Second, there is substantial variation in the association between firm, analyst, and brokerage house characteristics and the decision to follow a …

Advertisements: Interpreting Images Used To Sell To Young Adults, Alyssa Dana Adomaitis, Kim P. Johnson

Publications and Research

Purpose – The purpose of this study is to identify images used in advertising directed toward young adults, investigate what young adults thought of these images, and explore how young adults used these images.

Design/methodology/approach – A content analysis of 674 apparel and cosmetic advertisements located in four fashion magazines (Elle Girl, Seventeen, YM, and TeenVogue) resulted in eight categories. Participants (n ¼ 32) viewed advertisements representative of the categories and answered questions related to their thoughts about the model depicted in the advertisement and their use of the images.

Findings – Participants’ used the models as a point of …

Reassessing Accounting Faculty Scholarly Expectations: Journal Classification By Author Affiliation, Alan N. Attaway, Sidney J. Baxendale, Benjamin P. Foster, Julia N. Karcher

Faculty and Staff Scholarship

An extensive literature exists that determines accounting journal rankings and top research producers both individually and by program. While this research stream provides valuable insights to the Association to Advance Collegiate Schools of Business International (AACSB) accredited programs and to programs working to achieve such accreditation, it frequently is based on quality perceptions or considers top-rated programs only. This study extends previous research by reviewing authorship by faculty at a wider range of institutions. The results of this study suggest that lists based on the “top” journals may be unrealistic for many institutions. The information provided in this manuscript should …

Effects Of Free Trade Agreements (Ftas) On Construction Firms In Singapore, Low Sui Sui, June S.Y. Khoo

Business Review

Since the 1950s, the international trading system has been characterized by a shift from the multilateral processes towards bilateral and regional arrangements. The signing of the US-Singapore Free Trade Agreement (USSFTA) by the Prime Minister of Singapore and the President of the United States is but part of Singapore’s overall trade initiatives and economic strategy which involves forging free trade agreements (FTA) with other countries outside the ASEAN region. This study seeks to analyze the effect of FTA in the context of the construction industry with respect to local contractors. A questionnaire-based survey and in-depth personal interviews were conducted with …

Smes In Globalized World: A Brief Note On Basic Profiles Of Pakistan’S Small And Medium Scale Enterprises And Possible Research Directions, Sarath W.S.B. Dasanayaka

Business Review

The Small and Medium Scale Enterprises (SMEs) are playing very significant role in almost all the economies around the world in irrespective of the countries development stage. However it is obvious that SMEs function as a lifeline in informal sector in Asia, Africa, Latin America and Eastern Europe due to their contribution to overall economy in many aspects such as employment generation, exports, tax income, innovation, competitiveness, equitable income distribution, social stability, domestic resources usage, regional development and ultimately it is the main source of economic growth. The Pakistan is no exception to this phenomenon as a developing country located …

Housing In The Nation’S Micropolitan Areas: A First Look, Robert E. Lang, Karen A. Danielsen

Public Policy and Leadership Faculty Research

Micropolitan area is a newly defined unit of analysis for examining housing affordability. Before the creation of micropolitan areas in 2003, U.S. counties were categorized as either metropolitan or nonmetropolitan. The category of micropolitan area allows for a more detailed analysis of housing affordability conditions in areas with populations less than metropolitan areas but more than nonmetropolitan areas. Variables examined in this analysis of micropolitan areas include demographic and housing characteristics. A policy section highlights how the findings from this analysis may be applied to micropolitan geography.

Managing With Foresight And Insight, Christine G. Springer

Public Policy and Leadership Faculty Research

As we begin the New Year, it is important to look at the trends that need to be considered in the future and how or if these driving forces will define what strategic management means in 2008. It is also important to understand that looking to the past alone for guidance may skew our view of present facts even when those facts are supported by sound data. Strategic managers make sense out of what is going on around them and what is possible in the future by looking and listening to forecasts for the future, to what is critical for …

Managing With Foresight And Insight, Christine G. Springer

Public Policy and Leadership Faculty Research

The article shares the author's views on managing with foresight. According to her, strategically managing with foresight has always required with informed understanding. She stresses that one of the most effective disciplines for learning from experience is After Action Review (AAR). She expresses that AARs are examples of tools for foresight because it seeks to learn more from what have happened and apply the learning to an organization's understanding of the future.

Reducing Causal Ambiguity In Acquisition Integration: Intermediate Goals As Mediators Of Integration Decisions And Acquisition Performance, Margaret Cording, Petra Christman, David R. King

Management Faculty Research and Publications

Integration is a difficult process, but one that is vital to acquisition performance. One reason acquirers encounter difficulties is that the integration process exhibits high levels of intrafirm linkage ambiguity – a lack of clarity of the causal link between integration decisions and their performance outcomes. We introduce the construct of intermediate goals as a mechanism that reduces intrafirm linkage ambiguity. Our structural model results, based on a sample of 129 horizontal acquisitions, indicate that the achievement of two intermediate goals (internal reorganization and market expansion) fully mediates the relationships between four integration decisions and acquisition performance.

The Relationships Between Ethical Climates, Ethical Ideology, And Organisational Commitment, Martinus P. Putranta

Theses

A critical problem which faces higher education institutions in Indonesia is that of being able to generate staff’s commitment notwithstanding the inability of the institutions to provide their staff with comparable remuneration. This research sought to ascertain the potential of alternatives to extrinsic rewards in facilitating staff’s commitment in the Indonesian Catholic higher education institutions context. Two ethics-related variables, namely, institutional ethical climates and staff’s ethical ideology were chosen as the possible predictors. The choice was deemed relevant in respect of the endeavours of the institutional leaders to introduce codes of ethics to their institutions. A conceptual model delineating the …

Public Sentiment And Tobacco Control Policy, Perry Singleton

Center for Policy Research

The well-documented correlation between cigarette excise taxes and cigarette demand may not be entirely causal if excise taxes reflect public sentiment towards smoking. I consider whether proxies for smoking sentiment--the prevalence of smoking by education and intention to quit statuses--are correlated with support for and implementation of tobacco control laws. I find that cigarette excise taxes are most sensitive to the prevalence of educated smokers who do not want to quit. Additionally, when proxies for public sentiment are included, the estimated elasticity of cigarette demand declines from -2.0 to -1.3.

Flexible Learning Spaces: The Integration Of Pedagogy, Physical Design, And Instructional Technology, Stern Neill, Rebecca Etheridge

Marketing

To support pedagogical innovation, educators must reexamine physical space. This paper describes a project to redesign an existing classroom into a flexible learning space. The desired outcome was a classroom that would support a variety of pedagogical approaches and learning experiences. The findings, based on data gathered from students and faculty, indicate that the renovated classroom increases student engagement, collaboration, flexibility, and learning. A flexible learning space better enables innovative approaches to teaching and learning when compared to the traditional classroom.

The Effect Of Online Consumer Reviews On New Product Sales : A Study Of Amazon.Com, Xiaoning Guo

Lingnan Theses

In recent years, online word-of-mouth (WOM) communication in the form of online consumer reviews has become a major information source for consumers planning to purchase a new product. With the help of online reviews, consumers can access diverse opinions from others who have bought or used the new products before making their purchase decisions. This study compares the impact of online reviews on the sales of two types of new products (experience vs. search products) over time, in terms of the volume and valence of online consumer reviews. Using the data collected from Amazon.com over a period of nine months, …

Firm Ownership, Institutional Environment, And Audit Collusion : Empirical Evidence From A Transitional Economy, Rui Wang

Lingnan Theses

Motivated by the renewed interest in, but insufficient empirical evidence of, collusion between auditors and corporate management, I examine this issue in the unique environment of China, which is characterized by a high level of government control over listed companies and auditors, strong competition for audit clients, and uneven economic and legal development across the country. In contrast to prior studies, I employ a two-stage regression approach to study the determinants of audit collusion in China. In the first stage, I develop an audit opinion prediction model of Big 4 auditors (viewed as “typical” auditors) that corrects for self-selection bias. …

Effects Of Ethical Context On Earnings Management, Organizational-Professional Conflict And Organizational Commitment In Chinese Enterprises, Zhihong Wang

Lingnan Theses

This study investigates the effects of the organizational ethical context (ethical climate and ethical culture) in Chinese enterprises on accounting professionals’ perceptions of earnings management, organizational-professional conflict (OPC) and affective organizational commitment (OC). We also test the effects of Machiavellianism on these factors, and the interactive effects of Machiavellianism and ethical context on OPC and OC. The findings, based on responses from 89 accounting professionals employed by Chinese enterprises at staff, supervisor and manager levels, indicate that in general the perceived ethical context did not affect judgments of the acceptability of earnings management. However, as anticipated, perceptions of a stronger …

The Impact Of Corporate Governance On The Choice Of Transfer Pricing Methods In China, Xue Han

Lingnan Theses

Recent scandals involving related party transactions (RPTs) have attracted researchers’ and governments’ attention. Because imperfections exist in the legislation of RPTs, business groups might abuse transfer pricing of such transactions for certain purposes. These purposes include earnings management of listed companies that seek to attract investors and profit shifting from subsidiaries to parent companies. This study investigates the impact of corporate governance on the choice of transfer pricing methods in China.

I classify transfer pricing methods into two major groups (i.e., market-based and cost-based methods). I hypothesize that companies with weak corporate governance are more likely to use cost-based pricing …

Goal Interdependencies And Opportunism For Supply Chain Partnership In China, Lanjun Wu

Lingnan Theses

The possibility of opportunistic behavior is an important barrier to the collaboration between partners in the supply chain as partners pursue their self-interests with guile. Opportunistic behavior threatens the partners’ relationships, influences their work accomplishment and prevents future collaboration. This study hypothesizes that opportunism is not just the result of people’s self-interests pursuit but depends on how they think their self-interests are related. Opportunism in organizational partnerships could be understood in terms of how partners perceive their goals are related to each other. When partners believe that their goals are competitively or dependently rather than cooperatively related, they are more …

The Impact Of Fiscal Support On Earnings Management : Evidence From Equity Offerings In China, Guanming He

Lingnan Theses

It is well documented in existing literature that firms manipulate earnings before IPOs (initial public offerings) and SEOs (seasoned equity offerings). This study contributes to prior research by being the first to examine whether fiscal support from local governments has impact on the earnings management behavior of Chinese listed firms. Using data from firms that conduct IPOs and SEOs from 1997 to 2006, I find that firms are less likely to manipulate earnings prior to the offerings if they enjoy more income tax savings attributed to the preferential tax favor or more financial subsidy from the local governments.

The findings …

Creation Of Principal-Agency Relationship Value : Social Capital And Dynamic Learning Capability Perspectives, Yan Bin Xie

Lingnan Theses

In this 'age of turbulence' (Greenspan, 2007), businesses, in response to challenges of globalized competition, escalated customer expectation, and disruptive technological innovations, find innovative value propositions (Slater, 1997) critical for survival and sustained competitiveness. In lined with relationship marketing that suppliers need target valuable custome r to establish long-term relationship for survival in fierce competition (Gronroos, 2000), scholars (e.g. Walter, Ritter & Gemunden, 2001) looking from supplier perspective identify direct and indirect value as two dimensions for supplier-perceived relationship value. Direct value-based drivers of business relationships consist of higher profits from the product and service offering (i.e. profit function), growth …

Susceptibility To Global Consumer Culture : Scale Development And Purchase Behaviour Of Shanghai Consumers, Yue Huo

Lingnan Theses

Global Consumer Culture (GCC) is a term emerged in early 1990s. It refers to generally accepted beliefs and consumer tendencies toward globally shared consumption-related symbols such as brands, product categories, and consumption activities and events. Although researchers sought insights in this area in the last decade, they mainly focused on the specific topic of Brand Positioning method under the context of GCC. Little efforts were made to examine what global consumers actually do and think when making their buying decision, and what the common characteristics global consumers share in the world. The existence and increasing influence of global consumers whose …

Perceived Organizational Forgiveness And Punitive Intent, Rommel Salvador

Electronic Theses and Dissertations

Although management scholars have examined various antecedents of punishment in the workplace, there has been scant research on how perceptions of the organizational context influence decision-making regarding punishment. Building on the work of Cameron and colleagues (Cameron, Bright, & Caza, 2004; Cameron & Caza, 2002), I propose that one's perceived organizational forgiveness - the perception of the extent to which the workplace is forgiving - is negatively related with one's punitive intent in response to ethical misconduct. In addition, I identify variables involving the disciplinary agent and the ethical misconduct itself as moderators of this relationship. In a lab study …

User-Is Partnership And Is Development Success, Jook-Ting Jt Shim

Electronic Theses and Dissertations

Since 1970, high project failure rate and low user satisfaction has elicited research on users and their role in the process. It is believed that users' physical participation or psychological involvement in the development process can improve user satisfaction and/or system quality. Previous research treats users as a source of requirements and hypothesizes satisfaction to increase when requirements are fulfilled. However, inconsistent conclusions lead to confusion. Recently, a co-production concept has been proposed to understand consumer participation in product development process. In this reconceptualization, users, instead of requirement generator, should be part of the production. In this study, based on …

Top Management's Perceptions Of Service Excellence And Hospitality: The Case Of Dr. P. Phillips Hospital, Taryn Aiello

Electronic Theses and Dissertations

This study investigated service excellence and hospitality in a healthcare setting. It is unique from other hospitality research in that it considers hospitality and service excellence as separate concepts, applicable across industries. Part of the premise of this study explores how hospitality extends past service excellence to create a comfortable and welcoming environment to combat patient anxiety and stress. Furthermore, this is one of the first qualitative studies on the importance of service excellence and hospitality in the healthcare industry. This case study measured top management's perceptions of service excellence and hospitality within one community-based hospital located in Orlando, Florida. …

Estimating The Dynamics Of Mutual Fund Alphas And Betas, Harry Mamaysky, Matthew Spiegel, Hong Zhang

Research Collection Lee Kong Chian School Of Business

This article develops a Kalman filter model to track dynamic mutual fund factor loadings. It then uses the estimates to analyze whether managers with market-timing ability can be identified ex ante. The primary findings are as follows: (i) Ordinary least squares (OLS) timing models produce false positives (nonzero alphas) at too high a rate with either daily or monthly data. In contrast, the Kalman filter model produces them at approximately the correct rate with monthly data; (ii) In monthly data, though the OLS models fail to detect any timing among fund managers, the Kalman filter does; (iii) The alpha and …

Teaching Business Calculus: Methodologies, Techniques, Issues, And Prospects, Frederick A. Halcon

DLSU Business & Economics Review

Calculus, as a subject matter, is an area in mathematics that deals with limits, rates of change, derivatives and integrals. University education often incorporates calculus in the curriculum with emphasis given to its applications in real-life situations. It is a common notion that calculus, as a course or subject, is intricate and complex. However, treating business calculus in the most elementary manner and making abstract concepts more concrete can prove to be effective teaching strategies inside the classroom. This study attempts to review certain literature so as to equip instructors of business calculus with the necessary teaching pedagogy intended to …

Balance Sheet Disclosures: An Ifrs/Pfrs Compliance Report Of Ten Publicly Listed Companies In The Food Industry, Heminigilda E. Salendrez

DLSU Business & Economics Review

From the beginning of January 2005, publicly traded companies in the Philippines have had to comply with the Philippine Accounting Standards (PAS) and the Philippine Financial Reporting Standards (PFRS) for their consolidated financial statements. It has been suggested that the new accounting standards will facilitate the process of international harmonization of financial statements. This study shows the outcome of the examination of ten publicly listed companies in the food industry’s financial reporting practices as regards their compliance with the financial reporting requirement embodied in PAS/PFRS and Securities Regulation code Rule 68 and 68.1.

A Framework For Analysis Of Ambidexterity And Performance In Small-To-Medium-Sized Firms, Edgardo N. Bolinao

DLSU Business & Economics Review

Ambidextrous organizations provide a practical model for forward-looking executives seeking to pioneer disruptive innovations while pursuing incremental gains. The relationships described in this study are based on the organizational-context literature, in particular Ghoshal and Bartlett’s (1994) framework for organizational effectiveness, suggesting that contextual ambidexterity emerges when owner-managers in a business unit develop a supportive organization context. This perspective suggests that superior business-unit performance is not achieved primarily though charismatic leadership nor through some formal organizational structure, nor strong company culture; but rather through building a rational set of systems and processes that collectively define a context that allows the transcending …

Determinants Of Financial Health Of Us General Aviation Airports, Vitaly S. Guzhva, Massoud Bazargan, David A. Byers

Management, Marketing and Operations - Daytona Beach

This survey-based study investigates the current financial environment of US general aviation airports. Due to a dearth of data and research on the financial performance of general aviation airports, the paper provides vital information regarding the critical needs and major revenue sources of such airports.The findings suggest that general aviation airports can be self-sustaining regardless of their location, runway length and other airport-specific characteristics.The attitudes of the airport manager towards the importance of financial self-sustainability, positive relationships with local communities, and utilisation of non-traditional and non-aviation revenue sources are found to be critical for the financial health of general aviation …

Evidential Effort And Risk Assessment In Auditing, Allen D. Blay, Tim Kizirian, L. Dwight Sneathen Jr.

Accountancy: Faculty Publications

This study responds to prior literature highlighting the need for academic research to study the linkage of risks to audit procedures purported in the Audit Risk Model. We use audit workpaper data from a Big 4 firm to examine two significant relationships implicit in authoritative audit guidance: (1) the application of the audit risk model in practice, and the relationship between preliminary risk assessments and audit procedures, and (2) the potential loss of risk information upon risk aggregation suggested in the Audit Risk Model. Our findings indicate that preliminary risk assessments significantly affect planned audit procedures, and the potential for …