Business Commons^™

The Impact Of The Covid-19 Related Media Coverage Upon The Five Major Developing Markets, Zaghum Umar, Mariya Gubareva, Tatiana Sokolova

All Works

This paper analyses the influence of the Covid-19 coverage by the social media upon the shape of the sovereign yield curves of the five major developing countries, namely Federative Republic of B razil, Russian Federation, Republic of India, People's Republic of China, and the Republic of South Africa (BRICS). The coherenc e between the level, slope, and the curvature of the sovereign yield term structures and the Covid-19 medi a coverage is found to vary between low and high ranges, depending on the phases of the pandemic. The empirical estimations of the yield-curve factors a re performed by means of …

The Role Of Law In Chinese Value Chains, Henry Gao, Gregory Shaffer

Research Collection Yong Pung How School Of Law

Since starting its economic reform four decades ago, China has been highly successful in integrating its economy into regional and global value chains (GVCs). This started with simple assembly and processing, then expanded to low-end labor-intensive manufacturing, and gradually moved up to technology-intensive and capital-intensive industries. This article analyzes the development of Chinese law, legal institutions, and international and transnational legal initiatives to support the development of GVCs, which we divide into five phases. The article does not idealize law in terms of ‘commitment’ or ‘rule of law,’ but rather, in the legal realist tradition, views law as an important, …

The Effect Of The Global Financial Crisis On The Cost Structure And Double Bottom Line Goal Of Microfinance Institutions, Amy Ehinomen Eremionkhale, Todd A. Watkins

Business Analytics Faculty Publications

The objective of Microfinance institutions (MFIs) is often two-fold; the so-called double bottom line of seeking financial return sustainability, while also maximizing the social impact of their services on the lives of the poor individuals they serve. The pursuit of the social impact bottom line puts microfinance institutions in a peculiar position with regards to the response of their cost structure to the global financial crisis. This paper begins by investigating the impact of the global financial crisis on the cost structure, and cost inefficiencies of MFIs given their double bottom line pursuits. Overall, it appears that achieving growth in …

Are Rice Markets In Bangladesh Efficiently Pricing Rice Based On Quality? An Empirical Assessment, Indrani Saha

Graduate Theses and Dissertations

Rice is an important staple for more than half of the world’s population and is the main staple in Bangladesh, accounting for 65 percent to 70 percent of the daily calorie intake. The importance of rice consumption and the high level of food insecurity in Bangladesh highlights the importance of having markets that efficiently price rice according to consumer preferences. This study aims to assess how effectively rice prices in Bangladesh are reflective of rice quality. More specifically, we estimate how the rice market is currently pricing selected rice quality attributes, such as broken percentage, chalk percentage, kernel size and …

Centropoly: The Structure Of Educational Failures In The U.S., Martha Bradley-Dorsey

Graduate Theses and Dissertations

How did a country birthed in individual liberty and voluntary associations create just the opposite in its inflexible, layered, government-controlled public education system? Here, using public choice theory, I explain how near-sighted and unrelated reforms, often based in private motives, gave us what I call the public education centropoly – a hybrid government organization consisting of a set of monopolies layered beneath two additional government levels that especially fails disadvantaged students.

After defending the use of public choice theory (Chapter 1) and summarizing the U.S. public education system formation (Chapter 2), in Chapter 3 I examine the Elementary and Secondary …

Analyzing The Mediating Effects Of Social Capital And Sense Of Community Between International Student’S College Sports Fan Identification And Acculturation, Kibaek Kim

Graduate Theses and Dissertations

According to the number provided by the International Institute of Education (IIE), there are over one million international students enrolled in the United States. Although the number of international students is increasing, the incremental rate started to decrease after reaching its peak in the 2017-2018 academic year. While previous studies focused on the role of leisure activities, such as physical activity participation, to analyze how international students can receive social support from their communities to better acculturate in the U.S., this study focused on the role of spectator sports on providing social support and its effect on international student’s acculturation. …

Are Disagreements Agreeable? Evidence From Information Aggregation, Dashan Huang, Jiangyuan Li, Liyao Wang

Research Collection Lee Kong Chian School Of Business

Disagreement measures are known to predict cross-sectional stock returns but fail to predict market returns. This paper proposes a partial least squares disagreement index by aggregating information across individual disagreement measures and shows that this index significantly predicts market returns both in- and out-of-sample. Consistent with the theory in Atmaz and Basak (2018), the disagreement index asymmetrically predicts market returns with greater power in high-sentiment periods, is positively associated with investor expectations of market returns, predicts market returns through a cash flow channel, and can explain the positive volume-volatility relationship.

Just Because You're Powerless Doesn't Mean They Aren't Out To Get You: Low Power, Paranoia, And Aggression, Michael Schaerer, Trevor Foulk, Christilene Du Plessis, Min Hsuan Tu, Satish Krishnan

Research Collection Lee Kong Chian School Of Business

Due to its pervasive negative consequences, failing to understand the origins of paranoia can be costly for organizations. Prior research suggests that powerful employees are particularly likely to experience paranoia as others want to exploit the resources they control, implying that employees low in power should feel less paranoid. In contrast, we build on Conservation of Resources Theory and sociocultural perspectives of power to argue that the inherent vulnerability associated with being low power also evokes paranoia as a protection mechanism. Because paranoia causes employees to form malevolent attributions towards others, we predict that paranoia, in turn, leads to aggressive …

Information Avoidance And Medical Screening: A Field Experiment In China, Yufeng Li, Juanjuan Meng, Changcheng Song, Kai Zheng

Research Collection Lee Kong Chian School Of Business

Will individuals, especially high-risk individuals, avoid a disease test because of information avoidance? We conduct a field experiment to investigate this issue. We vary the price of a diabetes test (price experiment) and offer both a diabetes test and a cancer test (disease experiment) after eliciting participants’ subjective beliefs about their disease risk. We find evidence that, first, some people avoid the test even when there is neither a monetary nor a transaction cost, and second, both low- and high-risk individuals select out of the test as the price increases. We explain our findings using three classes of models of …

Ambivalent Bosses: An Examination Of Supervisor Expressed Emotional Ambivalence On Subordinate Task Engagement, Jia Hui Lim, Kenneth Tai, Maryam Kouchaki

Research Collection Lee Kong Chian School Of Business

Supervisors often have to manage conflicting and contradictory demands in increasingly dynamic work environments. In the process of doing so, they may express emotional ambivalence observed by subordinates. Drawing on emotions as social information (EASI) theory and research on unpredictability and stress, we examine when and why supervisor expressed emotional ambivalence influence subordinate outcomes. In two studies, we find that supervisor expressed emotional ambivalence is indirectly related to subordinate task engagement via supervisor unpredictability (Studies 1 and 2). In addition, supervisor unpredictability and anticipated stress serially mediate the effect of supervisor expressed emotional ambivalence on task engagement (Studies 3 and …

The Impact Of Concession Patterns On Negotiations: When And Why Decreasing Concessions Lead To A Distributive Disadvantage, Kian Siong Tey, Michael Schaerer, Nikhil Madan, Roderick I. Swaab

Research Collection Lee Kong Chian School Of Business

We propose that making a series of decreasing concessions (e.g., $1,500–1,210–1,180–1,170) signals that negotiators are reaching their limit and that this results in a negotiation disadvantage for offer recipients. Although we find that most negotiators do not use this strategy naturally, seven studies (N = 2,311) demonstrate that decreasing concessions causes recipients to make less ambitious counteroffers (Studies 1–5) and reach worse deals (Study 2) in distributive negotiations. We find that this disadvantage occurs because decreasing concessions shape recipients’ expectations of the subsequent offers that will be made, which results in inflated perceptions of the counterparts’ reservation price relative …

Experience Base, Strategy-By-Doing And New Product Performance, Liang Chen, Mengmeng Wang, Lin Cui, Sali Li

Research Collection Lee Kong Chian School Of Business

Research Summary Strategy research views firms' diverse experience base as critical to new product success. It also champions strategy-by-doing in entrepreneurial settings. This study juxtaposes and bridges these two perspectives to better understand product development. We propose that while a firm's product portfolio diversity contributes to new product success only to a certain degree, design iteration-a postlaunch strategy-by-doing approach-is positively associated with new product performance. Our core contribution points to a complementary relationship: strategy-by-doing helps mitigate the capacity constraints problem that prevents firms from successfully adapting product development capabilities to a dynamic market. Our analysis of a sample of 2,182 …

The Old Boys Club In New Zealand Listed Companies, Chen Chen, David K. Ding, William R. Wilson

Research Collection Lee Kong Chian School Of Business

The board of directors plays an important role in implementing corporate governance in the firm, as directors have a fiduciary duty to the firm’s shareholders. The effectiveness of directors is a key determinant of corporate value and they need to bring a range of skills and experience to the boardroom. This skill and experience cannot be developed solely within the firm, and most boards incorporate non-executive directors who are or have been directors of other firms. Current research on the benefits of interlocking directorships is mixed between the claim that they bring outside feedback to the table and open decision …

Competition And Cheating: Investigating The Role Of Moral Awareness, Moral Identity, And Moral Elevation, Abhijeet K. Vadera, Chandra Shekhar Pathki

Research Collection Lee Kong Chian School Of Business

Competition can lead individuals to cheat; yet our knowledge of why competition affects cheating and how to mitigate these effects is limited. To address this limitation, we first contrast two theories: arousal theories of competition (via desire to win) and social cognitive theory (via impaired moral awareness). Our results were consistent with social cognitive theory in that competition impairs moral awareness and that this impairment explains why people cheat. We therefore build on social cognitive theory and show that two factors, moral identity and moral elevation, which are likely to make morality salient, moderated the effects of competition on cheating …

Online Review Solicitations Reduce Extremity Bias In Online Review Distributions And Increase Their Representativeness, Hülya Karaman

Research Collection Lee Kong Chian School Of Business

Representative online customer reviews are critical to the effective functioning of the Internet economy. In this study, I investigate the representativeness of online review distributions to examine how extremity bias and conformity impact it, and explore whether online review solicitations alter representativeness. Past research on extreme distribution of online ratings commonly relied solely on observed public online ratings. One strength of the current paper is that I observe the private satisfaction ratings of customers regardless of whether they choose to write an online review or not. I show that both extremity bias and conformity exist in unsolicited online word-of-mouth (WOM) …

Hedonic Price Of Housing Space, Sumit Agarwal, Yanying Chen, Li Jing, Yi Jin Tan

Research Collection School Of Economics

This article estimates hedonic prices for different levels of housing space, by exploiting a unique space‐adding project in Singapore that added a uniform amount of space to each existing housing unit regardless of the original size. This space adding program was carried out if sufficient residents vote in favor of space adding. Using a difference‐in‐differences (DiD) strategy after restricting our sample to narrow margins around the voting cutoff, we find that the additional space increased the resale price of a housing unit by 7% on average, and the extent of price appreciation varied significantly across the original size of the …

The Integration And Efficiency Of Brics And Pakistan Stock Markets: An Analysis Using Asymmetric Cointegration And Mf-Dfa Approaches, Rukhsana Bibi, Kalsoom Akhtar, Naveed Raza

Business Review

This study examines the asymmetric cointegration and efficiency between Pakistan and BRICS equity markets using monthly data from October 1997 to September 2018. The results reveal that the Brazilian stock market is the most efficient during the global financial crisis. Threshold and momentum threshold autoregressive models (TAR and M.TAR) confirm the presence of a long-run relationship between BRICS and Pakistan stock markets, where the speed of negative shocks is higher and significant for Pakistan Russian, Pakistan South Africa stock market pair. This infers quick adjustment of stock prices to negative shocks (bad news) as compared to positive shocks (good news). …

How To Shred Gnar(Ly) Problems: Tools, Techniques & Resources To Help Address Epic Housing Challenges, Elizabeth Sodja

All Current Publications

The purpose of this document is to summarize key takeaways and resources from our 6-part webinar series about housing affordability and short-term rental challenges facing Gateway and Natural Amenity Region (GNAR) communities in the west.

Naturalistic Decision Making In First Sales Calls: A Narrative Study Of Experienced Technical Sales Professionals, Douglas Williams

Graduate Theses and Dissertations

The first conversation between business-to-business sellers and new customers comes with the potential for both opportunity and risk. Sellers spend substantial effort gaining the right to engage in a first call with a potential customer. This study fills a gap in the literature by exploring the role of Naturalistic Decision Making (NDM) and how it impacts the way experienced technology sales professionals navigate first conversations with new customers. NDM explores how experienced professionals make decisions in high-stakes, real world situations that are ambiguous, time-pressured, and have poorly defined goals. While NDM studies have been performed in other professional disciplines, none …

Essays On Managerial Attributes And Corporate Finance, Juntai Lu

Graduate Theses and Dissertations

In my dissertation, I explore how managerial attributes affect corporate policies.

In my first essay, I examine the effects of public firm CEOs’ prior private equity (PE) target experiences on corporate policies. Based on difference-in-differences and propensity score matching analyses, public firm CEOs previously serving as CEOs in PE targets reduce investment by about 15 percent while enhancing patent values by over 7 percent after taking office compared to CEOs without such experiences. The effects are stronger if these CEOs (1) worked in targets invested by more reputable PE firms, (2) worked in targets invested by PE firms known for …

A Multicase Study Exploring The Motivation Of Support Staff In The Office Of The Registrar, April M. Martin

Graduate Theses and Dissertations

Although a large body of research exists within higher education that focuses on factors related to faculty motivation and student motivation, there is limited research concentrated on the motivation of college and university administrative staff. This study examined how job duties, work processes, elements of the work environment, and leadership styles are related to employee motivation, specifically the motivation of front-line support staff who work in the Office of the Registrar. Additionally, I aimed to identify any disconnect between what support staff need and want from supervisors in the Office of the Registrar pertaining to motivation and supervisors’ behavior to …

The First Sign: Detecting Future Financial Fraud From The Ipo Prospectus, Lisa Spadaccini Anderson

Graduate Theses and Dissertations

In this study, I examine whether it is possible to predict future financial statement fraud using disclosure content prior to the fraud. Specifically, I employ a machine learning algorithm to construct a unique measure based on the lexical cues embedded within a firm’s first public disclosure, the Management’s Discussion and Analysis section of the S-1 filing, during the Initial Public Offering process. I use this measure to predict whether a firm that is not already committing fraud will commit fraud within five years of the Initial Public Offering (IPO) that results in an Accounting or Enforcement Release (AAER). I find …

Understanding The Importance Of Ambition In The Workplace, Jeff Bean

Graduate Theses and Dissertations

Though a common term, ambition is a multifaceted concept that is vastly under researched despite it being labeled necessary for success in the workplace. Of even greater irony is that several sources indicate a significant majority of the reason that employees leave organizations is due to a perceived lack of career development or opportunity, a problem that speaks directly to talent management practices. In light the costly nature of this problem and the presence of sophisticated talent management professionals in large and medium-sized organizations which comprise half or more of the workforce, it causes one to question the assumptions that …

Unintended Consequences Of Public Policy And Government Regulation On Supply Chain Structure, Conduct, And Performance, Jonathan Phares

Graduate Theses and Dissertations

Supply chains, and the firms within them, change their behaviors in response to industry conditions so they can provide efficiency, effectiveness, strategic enablement, and customer utility. Social and economic policies enacted to promote social welfare by correcting market failures can alter these conditions. While these policies may serve their intended purposes, they may also create unintended consequences that may make managing logistics, operations, and supply chains more challenging. This dissertation contributes to the nascent body of knowledge concerning the intended and unintended consequences of policy on supply chain management by examining three unique contextual settings using different methodologies and levels …

Audit Firms’ Response To Audit Failures: Evidence From Partner Resource Reallocation, Elizabeth Cowle

Graduate Theses and Dissertations

I investigate whether audit firms reallocate partner resources following restatement announcements and, consequently, whether a supply-side response is beneficial in mitigating the previously documented implications of realized audit failures. I find a positive association between prior period restatement announcements and the year-over-year percentage change in the number of engagement partners allocated to a local audit office. Further analysis suggests that a supply-side response is beneficial in mitigating the persistence of low-quality audits and lost market share. However, I also find some evidence suggesting that the reallocation of partner resources can be detrimental to audit quality at offices from which partners …

Lessons Learned: Neel Kashkari, Yasemin Esmen

Journal of Financial Crises

Neel Kashkari was the Interim Assistant Secretary of the Treasury for Financial Stability between October 2008 and May 2009. He oversaw the architecture and administration of the Troubled Asset Relief Program (TARP) during this time. This “Lessons Learned” is based on a phone interview with Mr. Kashkari.

Lessons Learned: Phillip Swagel, Yasemin Esmen

Journal of Financial Crises

Phillip Swagel was Assistant Secretary for Economic Policy at the U.S. Treasury between 2006 and 2009. During this time, he advised Treasury Secretary Hank Paulson as his chief economist, served as a member of the TARP Investment Committee, and played an important part in the conservatorship of Fannie Mae and Freddie Mac. This “Lessons Learned” is based on a phone interview with Mr. Swagel.

Lessons Learned: Arthur Murton, Sandra Ward

Journal of Financial Crises

Arthur Murton joined the Federal Deposit Insurance Corp. in 1986 as a financial economist and rose through the ranks to become Director of the Division of Insurance and Research, a post he held from 1995 to 2013 and which he steered through the financial crisis of 2007-09. Murton participated in the important interagency discussions held on Columbus Day weekend in 2008 that led to the establishment of breakthrough programs that proved critical in stabilizing financial markets. This “Lessons Learned” summary is based on an interview with Mr. Murton about his crisis experience.

Lessons Learned: Michael Krimminger, Charles Euchner, Maryann Haggerty

Journal of Financial Crises

Michael Krimminger was Special Advisor for Policy and General Counsel at the Federal Deposit Insurance Corporation during the global financial crisis. In that role, he provided legal and policy advice on the writing and implementation of the Dodd-Frank Act, including its systemically important financial institution provisions, living wills, capital markets and capital, and structured finance requirements. He is now a partner at Cleary Gottlieb Steen & Hamilton LLP. This “Lessons Learned” is based on an interview with Mr. Krimminger.

Lessons Learned: Diane Ellis, Sandra Ward

Journal of Financial Crises

Diane Ellis served as Deputy Director, Insurance and Research, at the Federal Deposit Insurance Corp. during the financial crisis of 2007-09. The FDIC played a critical role in stabilizing financial conditions and establishing confidence in the financial markets by guaranteeing newly issued debt on a temporary basis for banks and thrifts as well as financial holding companies and eligible bank affiliates. The agency also fully guaranteed certain non-interest-bearing transaction deposit accounts. Ellis played an important role in implementing the Temporary Liquidity Guarantee Program that proved so critical in stemming the crisis. This “Lessons Learned” is based on a phone interview …