Business Commons^™

Enabling Singapore's Youths To Adapt In An Era Of Climate Change, Thomas Menkhoff, Mark Chong, Benjamin Gan

Research Collection Lee Kong Chian School Of Business

Nudging them towards more eco-friendly behavioural habits is arguably a feasible approach to build greater climate resilience.

Financial Literacy And Financial Decision-Making At Older Ages, Joelle H. Fong, Seng Kee Benedict Koh, Olivia S. Mitchell, Susann Rohwedder

Research Collection Lee Kong Chian School Of Business

How well older households manage their wealth holdings is an important determinant of their financial security during retirement, yet little is known about their financial decision-making and how this relates to their financial literacy. Our paper fills this gap by measuring financial literacy among older persons in the Singapore Life Panel and examining its association with timely credit card debt repayment, stock market participation, and age-based investment risk diversification. Most older respondents understand interest compounding and inflation, but fewer than half know about risk diversification. Almost all older credit card holders pay off their balances in a timely manner, but …

Determinants Of Entrepreneurial Venture Growth In The Philippines Using The Global Entrepreneurship Monitor, Brian C. Gozun, John Paolo R. Rivera

Angelo King Institute for Economic and Business Studies (AKI)

Entrepreneurial venture growth requires the capacity to produce products that are acceptable to the market, and the level of support given to enterprises helps them produce, innovate, and gain market access. However, entrepreneurs are faced with challenges related to physical and social infrastructure, local and global business environment, a level playing field, access to financing, and access to skill development and knowledge. If these remain unmitigated, they have the potential to hamper entrepreneurial growth. Hence, we inquire on the critical drivers of venture growth that will allow entrepreneurs to stimulate their enterprises using founder characteristics, firm attributes, and entrepreneurial strategies. …

Enhancing External Participation Of Philippine Msmes Towards Entrepreneurial Venture Growth, John Paolo R. Rivera

Angelo King Institute for Economic and Business Studies (AKI)

Alongside profit maximization and value creation, enterprises are in the pursuit of entrepreneurial venture growth. The need to pursue entrepreneurial venture growth given the risks brought about by a volatile, uncertain, complex, ambiguous, and disruptive (VUCAD) world (Rafael et al., 2020) is vital to sustain entrepreneurs’ income, to continue generating employment, and to continue providing value-adding products and services for society. However, entrepreneurial venture growth requires the capacity to produce products that are acceptable to the market; and the level of support given to enterprises to help them produce, innovate, and gain market access. Various functional areas of the business …

Do Innovative Firms Communicate More? Evidence From The Relation Between Patenting And Management Guidance, Sterling Huang, Jeffrey Ng, Tharindra Ranashinghe, Mingyue Zhang

Research Collection School Of Accountancy

Successful innovations could induce more disclosure if the information asymmetry between the firm and its investors about post-innovation outcomes leads investors to demand more information. However, such innovations also likely entail greater proprietary cost concerns, which deter disclosure. This paper uses patent grants to examine the effect of innovation success on management guidance behavior. We find that more management guidance follows patent grants, suggesting that despite disclosure cost concerns, firms with successful innovations do respond to information demand. This association is stronger after enactment of Regulation Fair Disclosure and for firms with greater institutional investor ownership, further highlighting the role …

Mitigating Financial Fraud Risk With Data Analytics, Clarence Goh, Gary Pan

Research Collection School Of Accountancy

The risks associated with financial fraud that modern CFOs face today is particularly high. The same report examined Accounting and Auditing Enforcement Releases (AAERs) issued by the Securities and Exchange Commission (SEC) in the US from 2014 to 2019 and found that while the SEC frequently charged the person directly responsible for perpetuating the financial fraud, the CFO was among the most commonly charged employees. Data analytics techniques can play an important role in mitigating the risk of financial fraud for CFOs.

Place Branding As A Mode Of Urban Governance And Verticalisation: The Case Of Tokyo And New York, Z. Ruya Yuksel

Dissertations, Theses, and Capstone Projects

This thesis explores how place branding activities are amalgamated into the urban governance policies and how skyscrapers are weaved into this process by studying two of the top ten most vertical cities in the world: Tokyo and New York.

Fascination with building up towards the sky is nothing new. Yet what is new is that skyscrapers are becoming as part of place branding strategies which are seeping into urban governance practices. Concepts of place branding, urban development, spatial planning and governance are now being discussed and understood as significant elements of the same process where branding informs configurations and development …

Revenue Recognition, February 1, 2021; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

The Influence Of Post-Visit Emotions On Destination Loyalty, Maksim Godovykh, Asli D. A. Tasci

Faculty Scholarship and Creative Works

Purpose: The influence of different factors including emotional states on loyalty has been previously discussed in the literature. However, the influence of post-visit emotions evoked by emotional stimuli on tourist loyalty lacks empirical attention. The purpose of this study is to investigate the effects of post-visit emotional stimuli on destination loyalty.

Design/methodology/approach: The study applied an online scenario-based experimental design to identify the impact of positive and negative affective pictorial stimuli on destination loyalty. A sample of 500 adult US residents who visited Orlando within the past 12 months was recruited to take part in the experiment. One-way ANOVA was …

Promotion Of Leaders Based On Skills Not Related To Leadership, Emily Kathryn Stites

Doctoral Dissertations and Projects

A qualitative case study allowed for understanding the skills and achievements desired for individuals holding formal leadership positions in rural businesses located in Indiana. The general problem to be addressed was leaders being promoted based upon achievements and skills not related to leadership resulting in diminished morale and lower productivity. The purpose of the study was to add to the body of knowledge by expanding on the understanding of reasons behind promoting leaders based on non-leadership skills and abilities and the impact it has on employee morale and company productivity. Three primary research questions evaluated the skills and achievements of …

Factors Influencing Small Construction Businesses From Implementing Information Security: A Case Study, Carl Andrew Mayes

Doctoral Dissertations and Projects

This qualitative study described the influence of small businesses’ failure to properly implement information security technologies resulting in the loss of sensitive and proprietary business information. A collective case study approach was used to determine the most effective way to gain a holistic picture of how small construction businesses make security technology implementation decisions to support their workforce. The theory guiding this study was the Unified Theory of Acceptance and Use of Technology (UTAUT) model which is related to the Theory of Planned Behavior and the Technology Acceptance Model which helped explain the intentions of individuals to use information systems. …

Millennials In The Workforce: An Examination Of Motivation And Behavior, Josephine L. Bennett

Doctoral Dissertations and Projects

In recent years there has been much dialogue about retaining millennials. This dialogue has been fueled by a growing concern over millennial turnover trends. Because millennials have been said to have different work values than previous generations and have demonstrated behaviors outside of what employers describe as “norms” there has been much difficulty with understanding the turnover behavior of this generation. Sourced in motivation theory, this study sought to examine how the turnover intention behavior of millennials is related to rewards, specifically intrinsic and extrinsic rewards. Data from the 2016 Federal Employment Viewpoint Survey was examined to meet the objectives …

The Role Of Leadership On Corporate Governance, John Brackett

Doctoral Dissertations and Projects

Corporate governance and internal controls over the accounting and financial reporting processes are critical to timely and accurate financial data reporting. Sheikh (2019) concluded that internal controls establish accepted practices, manage risk choices in decision-making, and improve ongoing monitoring activities to ensure compliance with laws, regulations, and company policy. Wang and Zhou (2016) identified leadership as a critical component of corporate governance and concluded that a company’s accounting process and related controls were interdependent with enterprise management and directly correlated to the sustainability of operations and business success. The Board of Directors and the Chief Audit Executives are responsible for …

Understanding The Impacts Of Altering Safe Harbor Plans Within Small Business Organizations, Svetlana Kirilova Velikova

Doctoral Dissertations and Projects

In the past three decades, many companies have adopted less expensive, relatively easier to establish, modify, amend, and terminate safe harbor 401 (k) retirement plans. By adopting the safe harbor, 401(k) plans, smaller private employers have enacted retirement incentives, shared the investment and managing responsibilities, and assisted their employees with building their retirement savings (Ali & Frank, 2019; Clark et al., 2019a). Furthermore, many small companies have reflected the impacts of the economic fluctuations and the retirement legislation changes, amended their safe harbor 401(k) plans, and lowered their retirement investments (Card & Ransom, 2011). The high number of plan amendments …

Learning By Supplying And Competition Threat, Yi-Fan Chen, Alireza Naghavi, Shin-Kun Peng

Research Collection School Of Economics

This study proposes a model of learning by supplying in an international outsourcing framework, where the supplier of a relationship-specific input can reverse engineer and become a competitor to its partner in the final goods market. Transmitting knowledge to a more capable supplier therefore creates competitive threat despite the benefits it brings within an outsourcing relationship. In particular, in markets with less differentiated products and for standard inputs that require less knowledge to be shared, choosing an intermediate capability level supplier prompts a strategic expansion of output to deter supplier entry in the final goods market, resulting in higher profits …

Taking Flight – February 2021, Georgia Southern University

College of Business: News & Publications

• Message from the Dean
• Alumni Spotlight: Ned Butler
• The New Convocation Center Will Be Named After Georgia Southern Graduates
• Spring PEP Activities
• Parker College of Business Students, Faculty Excel in Virtual Global Competition
• Groundbreaking Held for Small Business Incubator
• Economist: COVID-19 Vaccinations Vital to Economic Recovery
• Faculty/Staff News

Moral Hazard And The Market-Based Method: Does Using Renewable Energy Attributes In Emissions Reporting Affect Corporate Emissions Performance?, Francisco Ascui, Matthew Brander, Theodor Florian Cojoianu, Qian (Jan) Li

Research Collection College of Integrative Studies

An increasingly widespread accounting practice for electricity (scope 2) emissions, known as the ‘market-based method’, is problematic as it allows companies to use purchased renewable energy attributes (REAs) to report lower emissions, which therefore no longer reflect the actual location-based electricity generation emissions resulting from the company's electricity consumption. Using REAs therefore may create a moral hazard, as companies using these arrangements are insulated from the consequences of their actions and may thus have less incentive to genuinely reduce their emissions. We construct a year-on-year matched sample of firms using/not using REAs (2,716 firms with 12,700 firm-year observations from 2006 …

Global Shift Towards Stakeholder-Oriented Corporate Governance? Evidence From The Scholarly Literature And Future Research Opportunities, Toru Yoshikawa, Michael Nippa, Gavin Chua

Research Collection Lee Kong Chian School Of Business

Purpose: By reviewing prior scholarly corporate governance (CG) literature and a review of more recent stakeholder studies, this paper aims to examine the extent to which stakeholders and their interests have gained in importance in recent years compared to the shareholder approach, which is dominant in many national economies and suggest future research opportunities. Design/methodology/approach: This study conducts a literature review to examine major findings in prior studies. Findings: The reviews and analyses provide support for a formal and informal convergence of CG systems towards more stakeholder-oriented elements globally. In general, at the institutional and firm levels, there are remarkable …

The Economics Of Hedge Fund Startups: Theory And Empirical Evidence, Charles Cao, Grant Farnsworth, Hong Zhang

Research Collection Lee Kong Chian School Of Business

This paper examines how market frictions influence the managerial incentives and organizational structure of new hedge funds. We develop a stylized model in which new managers search for accredited investors and have stronger incentives to acquire managerial skill when encountering low investor demand. Fund families endogenously arise to mitigate frictions and weaken the performance incentives of affiliated new funds. Empirically, based on a TASS-HFR-BarclayHedge merged database, we find that ex ante identified cold inceptions facing low investor demand outperform existing hedge funds and hot inceptions facing high demand and that cold stand-alone inceptions outperform all types of family-affiliated inceptions.

Cryptocurrency Framework, Pearl Hock-Neo Tan, Tracey Chunqi Zhang

Research Collection School Of Accountancy

An interesting puzzle exists with respect to the accounting treatment of cryptocurrencies. The announcement in October 2020 that PayPal was launching its own cryptocurrency service suggests growing acceptability. However, there is no standard that deals with them specifically. We review the classification appropriateness for cryptocurrencies under IAS 2, IAS 7, IFRS 9, and IAS 38. There is a lack of a consensus on the accounting classification and measurement of cryptocurrencies. A framework is needed to classify cryptocurrencies by underlying attributes and to require the appropriate accounting treatment for each classification.

Examining The Phenomenon Of Rounding In Analysts’ Eps Forecasts: Evidence From Singapore, Clarence Goh

Research Collection School Of Accountancy

Prior studies have documented the phenomenon of rounding of analysts' earnings per share (EPS) forecasts in the USA. From the outset, it is unclear if analysts following Singapore firms also similarly engage in the rounding of their EPS forecasts. This study aims to investigate the extent to which analysts engage in rounding of EPS forecasts of firms listed on the Singapore Exchange.

Transaction Cost Theory: Past Progress, Current Challenges, And Suggestions For The Future, Ilya Cuypers, Jean-Francois Hennart, Brian S. Silverman, Gokhan Ertug

Research Collection Lee Kong Chian School Of Business

Transaction cost theory (TCT) has been fruitfully applied to a wide range of organizational phenomena, as reflected in a vast and evolving body of research. However, in part due to the theory’s broad success, important advances in some fields do not diffuse to other fields. In this essay, we lay out a path toward a pluralistic view of TCT that incorporates insights from multiple fields, primarily strategy and international business. In so doing, we critically assess the assumptions, key constructs, and evolving theoretical logic of TCT. We then propose an agenda for future research, highlighting opportunities for scholars to (1) …

Trust And Retirement Preparedness: Evidence From Singapore, Benedict S. K. Koh, Olivia S. Mitchell, Joelle H. Fong

Research Collection Lee Kong Chian School Of Business

Trust is an essential component of any financial system, and distrust can undermine savings and economic growth. Our study draws on the Singapore Life Panel to assess how trust ties to older respondents’ (1) pension plan participation and withdrawals; (2) life, health, and long-term care insurance holdings; and (3) stock market engagement. We show that the widely-used ‘trust in people’ question is uncorrelated with household behaviours related to retirement preparedness. Instead, trust in private and public financial representatives is positively associated with pension savings, investments, and insurance holdings. Financial literacy also plays an important and consistent role in retirement decision-making.

Examining Business School Leadership, Julie Davies, Ewan Ferlie, Heather Mclaughlin, Howard Thomas

Research Collection Lee Kong Chian School Of Business

Business school leaders are ‘squeezed’ by a range of internal metrics. These metrics focus on a micro-managed narrow range of key performance indicators (KPIs) to raise revenues, research, and rankings. This style of financial centralised control has, in many cases, distracted deans and their teams from seriously addressing long-standing crises that the current global pandemic has brought to the fore. This article captures discussions from EFMD’s webinar on business school leadership which is part of “the future of the business school” seminar series.

Emergence Of Private Markets And Exchanges As An Alternative Source Of Financing For Small- And Medium-Sized Enterprises (Sme) In Singapore, Ser Keng Ang

Research Collection Lee Kong Chian School Of Business

Small- and Medium-sized Enterprises (SMEs) are the engine for growth for any economy, whether big or small and developed or emerging. In the US, small firms with less than 500 employee represent 99% of all employers, provide over 80% of net new jobs and account for about one-half of the national workforce. Singapore is no exception. Hence, the well-being of the SME sector in Singapore bears huge importance in the growth and development of its economy.In practice, financing of private companies, particularly small companies, is a challenge. In general, their small size makes private firms more susceptible to exogenous shocks. …

Contingency Theory Of Strategic Conflict Management: Explicating A “Grand” Theory Of Public Relations, Pang, A., Yan Jin, Glen T. Cameron

Research Collection Lee Kong Chian School Of Business

Since the 1990s, the contingency theory of strategic conflict management has evolved into its own, and emerged as an empirically tested perspective. Coombs (2010) has described the contingency theory as a “grand theory of public relations” (p.41). A “grand theory” is one which “seeks to explain how public relations as a whole operates”; grand theories seek to explain an entire discipline and “can be adapted to specific areas of the discipline” (Coombs 2010: 41). Today, it is one of the top six theories applied in crisis communication research (An and Cheng 2010). The purpose of this chapter is threefold: First, …

Seasoned Equity Offerings And Corporate Financial Management, Michael J. Barclay, Fangjian Fu, Clifford W. Smith

Research Collection Lee Kong Chian School Of Business

We assume executives managing corporate financial policy consider the firm's current and target leverage, investment plans, anticipated cash flows, and consequences of alternative sequences of financing transactions, operating within efficient markets. Our analysis yields time-series and cross-sectional predictions for management of investment spending and leverage; use of maturity, priority, and convertibility covenants; and management of dividends, share repurchases, cash balances, and credit lines. Our evidence from 8608 SEOs covering 1970–2015 is consistent with implications of our theory, helps to resolve an array of issues in corporate finance, and offers a step toward a more unified analysis of rational corporate financial …

A Capability-Based View Of Boards: A New Conceptual Framework For Board Governance, Patricia Klarner, Toru Yoshikawa, Michael Hiit

Research Collection Lee Kong Chian School Of Business

A key role of board directors is to govern corporate strategy. Whereas prior research has provided insights into board roles and activities regarding board governance, the underlying capabilities required to govern effectively remain understudied. This article explores and explicates a capability-based view of board actions in which the specific capabilities that enable boards to govern strategic activities are identified. We specifically examine the conceptual foundations and different types of board capabilities, drawing on illustrative cases as well as information from interviews with board directors in the United States, Asia, and Europe. We then discuss several future research directions that can …

Hedge Fund Franchises, William Fung, David Hsieh, Narayan Naik, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

We investigate the growth strategies of hedge fund firms. We find that firms with successful first funds are able to launch follow-on funds that charge higher performance fees, set more onerous redemption terms, and attract greater inflows. Motivated by the aforementioned spillover effects, first funds outperform follow-on funds, after adjusting for risk. Consistent with the agency view, greater incentive alignment moderates the performance differential between first and follow-on funds. Moreover, multiple-product firms underperform single-product firms but harvest greater fee revenues, thereby hurting investors while benefitting firm partners. Investors respond to this growth strategy by redeeming from first funds of firms …

Mind Your Language: The Effects Of Linguistic Ostracism On Interpersonal Work Behaviors, John Fiset, Devasheesh P. Bhave

Research Collection Lee Kong Chian School Of Business

Business and demographic trends are conflating to bring language issues at work to the forefront. Although language has an inherent capacity for creating interpersonal bonds, it can also serve as a means of exclusion. The construct of linguistic ostracism encapsulates this phenomenon. Drawing on ethnolinguistic identity theory, we identify how linguistic ostracism influences two interpersonal work behaviors: interpersonal citizenship and interpersonal deviance. We conduct a set of studies that uses multisource data, data across time, and data from three countries. Our results reveal that linguistic ostracism was associated with the enactment of lower interpersonal citizenship behaviors and higher interpersonal deviance …