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Full-Text Articles in Business
Risk Sharing In An Asymmetric Environment, Eric Fesselmeyer, Leonard J. Mirman, Marc Santugini
Risk Sharing In An Asymmetric Environment, Eric Fesselmeyer, Leonard J. Mirman, Marc Santugini
Research Collection College of Integrative Studies
We study the effect of an asymmetric environment on risk sharing. In our model, entrepreneurs consider undertaking risky projects in the real sector as well as selling part of their projects to investors. To capture the idea of an asymmetric environment, the returns on the alternative risk-free investment are allowed to differ between the entrepreneurs and the investors, i.e., agents have different opportunity costs of participating in the risky projects. We first show that the presence of asymmetric options establishes links between the risk-free and risky sectors as well as between the real and financial sectors. In particular, an asymmetric …
Kinship In Entrepreneur Networks: Performance Effects Of Resource Assembly In Africa, Jane N. O. Khayesi, Gerard George, John Antonakis
Kinship In Entrepreneur Networks: Performance Effects Of Resource Assembly In Africa, Jane N. O. Khayesi, Gerard George, John Antonakis
Research Collection Lee Kong Chian School Of Business
We examine the relationship among structural social capital, resource assembly, and firm performance of entrepreneurs in Africa. We posit that social capital primarily composed of kinship or family ties helps the entrepreneur to raise resources, but it does so at a cost. Using data drawn from small firms in Kampala, Uganda, we explore how shared identity among the entrepreneur's social network moderates the relationship between social capital and outcomes. A large network contributed a higher quantity of resources raised, but at a higher cost when shared identity was high. We discuss the implications of these findings for the role of …
Risk Sharing In An Asymmetric Environment, Eric Fesselmeyer, Leonard J. Mirman, Marc Santugini
Risk Sharing In An Asymmetric Environment, Eric Fesselmeyer, Leonard J. Mirman, Marc Santugini
Research Collection College of Integrative Studies
We study the effect of an asymmetric environment on risk sharing. In our model, entrepreneurs consider undertaking risky projects in the real sector as well as selling part of their projects to investors. To capture the idea of an asymmetric environment, the returns on the alternative risk-free investment are allowed to differ between the entrepreneurs and the investors, i.e., agents have different opportunity costs of participating in the risky projects. We first show that the presence of asymmetric options establishes links between the risk-free and risky sectors as well as between the real and financial sectors. In particular, an asymmetric …
Start-Up Reputations In Asian Markets, Mark Chong, Jurrien Gregor Halff
Start-Up Reputations In Asian Markets, Mark Chong, Jurrien Gregor Halff
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Building Family Businesses In Thailand, Singapore Management University
Building Family Businesses In Thailand, Singapore Management University
Perspectives@SMU
State policies, an access to political rent, plus investing in relationships and innovation are some of the ways family businesses thrive in Thailand
From Marbles To International Business, Singapore Management University
From Marbles To International Business, Singapore Management University
Perspectives@SMU
From selling marbles to trading cards, Douglas Gan shares the lessons learnt as an entrepreneur
Family Firm Research: A Review, Qiang Cheng
Family Firm Research: A Review, Qiang Cheng
Research Collection School Of Accountancy
This article reviews family firm studies in the finance and accounting literature, primarily those conducted using data from the United States and China. Family owners have unique features such as concentrated ownership, long investment horizon, and reputation concerns. Given the distinguishing features of family ownership and control, family firms face unique agency conflicts. We discuss the agency problems in family firms and review the findings of recent family firm studies. We call for more research to understand the unique family effects and encourage more research on Chinese family firms. Part I of the article discusses the fundaments of family firms: …
Dueling Institutional Logics And The Effect On Strategic Entrepreneurship In Chinese Business Groups, Daphne W. Yiu, Robert E. Hoskisson, Garry D. Bruton, Yuan Lu
Dueling Institutional Logics And The Effect On Strategic Entrepreneurship In Chinese Business Groups, Daphne W. Yiu, Robert E. Hoskisson, Garry D. Bruton, Yuan Lu
Research Collection Lee Kong Chian School Of Business
Focusing on a period of institutional friction when institutions are in transition, this study examines the dueling institutional logics that simultaneously operated as business groups were implemented to foster strategic entrepreneurship activities in China. Our findings from 1,095 Chinese business group-affiliated firms show that the original institutional logic of state control and ownership remains a potent factor, while the new institutional logic in support of strategic entrepreneurship takes place through business groups' informal and formal organization controls. Further, the state logic causes rigidity and inflexibility for firms to react to the new institutional demands, thus weakening the positive effects of …
Kheng Keng Auto: Growing Beyond Being A Family Business, Singapore Management University
Kheng Keng Auto: Growing Beyond Being A Family Business, Singapore Management University
Perspectives@SMU
Humility, ethics, and family are key to success
The New Lyrics Of The Old Folks: The Role Of Family Ownership In Corporate Innovation, Po-Hsuan Hsu, Sterling Huang, Massimo Massa, Hong Zhang
The New Lyrics Of The Old Folks: The Role Of Family Ownership In Corporate Innovation, Po-Hsuan Hsu, Sterling Huang, Massimo Massa, Hong Zhang
Research Collection School Of Accountancy
According to conventional wisdom, family ownership, which signals a lack of social capital and trust in an economy, may impede innovation. This argument, however, fails to recognize that modern family firms can benefit from capitalist institutions that promote innovation. Using a comprehensive sample of U.S. family-owned public firms and patents for the period from 2000 to 2010, we show that family ownership promotes innovation and that this positive effect can be attributed to reduced financial constraints, a greater commitment to long-term value, and improved corporate governance. Causality is confirmed by an instrumental variable analysis using the state-level divorce rate and …
Crowdsourcing For Success, Singapore Management University
Crowdsourcing For Success, Singapore Management University
Perspectives@SMU
Fluentlee.com’s co-founder achieved 90 percent savings through crowdsourcing
The Customer Insight Journey Of Amazing Grace, Pradeep Pant
The Customer Insight Journey Of Amazing Grace, Pradeep Pant
Asian Management Insights
How do you put consumercentric marketing into action? Make it personal!
Sentimental Drivers Of Social Entrepreneurship: A Study Of China's Guangcai (Glorious) Program, Daphne W. Yiu, William P. Wan, Frank W. Ng, Xing Chen, Jun Su
Sentimental Drivers Of Social Entrepreneurship: A Study Of China's Guangcai (Glorious) Program, Daphne W. Yiu, William P. Wan, Frank W. Ng, Xing Chen, Jun Su
Research Collection Lee Kong Chian School Of Business
Social entrepreneurship plays an important role in local development in emerging economies, but scholars have paid little attention to this emerging phenomenon. Under the theory of moral sentiments, we posit that some entrepreneurs are altruistically motivated to promote a morally effective economic system by engaging in social entrepreneurial activities. Focusing on China's Guangcai (Glorious) Program, a social entrepreneurship program initiated by China's private entrepreneurs to combat poverty and contribute to regional development, we find that private entrepreneurs are motivated to participate in such programs if they have more past distressing experiences, including limited educational opportunities, unemployment experience, rural poverty experience, …
Making Big Change In Small Sizes, Singapore Management University
Making Big Change In Small Sizes, Singapore Management University
Perspectives@SMU
Managing change can be a challenge especially for the SME with limited resources. Here are five factors that have proven to be powerful in execution.
Wired And Ready For Action, Singapore Management University
Wired And Ready For Action, Singapore Management University
Perspectives@SMU
Digital connectivity has changed the business model and will allow current vertical industries to hitch their value propositions and revenue streams to other firms' offerings.