Business Commons^™

Re-Thinking Risk Management Of Auction House Guarantees And Third-Party Irrevocable Bids, Nathan Krasnick

MA Theses

This paper addresses the question of how deviations between expected and actual art auction results impact the auction guarantees made within an artist’s market and among multiple artists, and whether those impacts can be identified and quantified. To do so, I use a theoretical pricing model based on datasets of historical auction records going back to the earliest available date for a specific artist but no further than 2010. I find that, in comparing the model’s expected and actual results to empirical price deviations at auction, we can identify and quantify the impact of those deviations on guarantees.

The Art Of Marketing Luxury, Aiho Tan

MA Theses

Luxury businesses face the paradoxical challenge of growing a business whilst upholding an aura of exclusivity. The objective of this thesis is to examine the key marketing strategies employed by leading luxury brands ranging from fine art to real estate. This paper examines whether luxury brands need to embrace digital innovation and technology in order to remain leaders of luxury. First-hand insight from industry leaders and case studies reveal that luxury brands need to embrace digital, utilize the power of experiential marketing strategies, invest in creative talent, strategically partner and collaborate with brands and individuals, and craft an authentic narrative …

The Old Masters Market And The Salvator Mundi: What Did It Do, What Can Be Done?, Mary Sullivan

MA Theses

On 3 November 2017, within the Post-War & Contemporary Evening Sale at Christie's auction in New York, nestled between a Vija Celmins and Jean-Michel Basquiat, was a painting attributed to Leonardo da Vinci, the Salvator Mundi (1490-1500.) The work quadrupled the estimated sale price of 100 million USD, hammering at 400 million (for a total of 450.3 million with buyer’s premium.) This work, setting the record for the most expensive work of art ever sold, at auction or private, creates a curious case for the Old Masters category. What appears to be a shrinking, potentially dwindling category of art, now …

Female Transnational Entrepreneurs (Ftes): A Case Study Of Korean American Female Entrepreneurs In Silicon Valley, June Y. Lee, Jane Lee

Research Collection School of Social Sciences

Increasingly, studies of entrepreneurship and migration have examined the role of immigrant entrepreneurs in revitalising and diversifying the economy of the host society. Further, recent transnational skilled entrepreneurs have been understood as being much more mobile in building international networks and collaborations between their home and host societies. These studies have tended to focus on the technically oriented entrepreneurs and to produce a single grand narrative about a particular migrant group that transfers knowledge and becomes a technical pioneer in their home society. This article scrutinises a group of first-generation Korean American female transnational entrepreneurs (FTEs) living in Silicon Valley …

Sale-Leaseback Transactions: Price Premiums And Market Efficiency, C. F. Sirmans, Barrett A. Slade

Faculty Publications

Sale-leaseback transactions are ubiquitous in real estate markets in the United States with annual volume estimated to be greater than $7 billion. However, there is no evidence concerning the price impact of such transactional arrangements. Using a data set of sale-leaseback transactions, this study examines the price impact on commercial property transactions across seven markets. The findings reveal that transactions structured as saleleasebacks occur at significantly higher prices than market transactions. In addition, after accounting for income differentials, buyers and sellers are appropriately pricing the transactions resulting in no undue advantage to either party, that is, the expected price premium …

Sizing Up Corporate Restructuring In The Covid Crisis, Robin Greenwood, Benjamin Iverson, David Thesmar

Faculty Publications

In the wake of the COVID-19 pandemic, the financial and legal system will need to deal with a surge of financial distress in the business sector. Some firms will be able to survive, while others will face bankruptcy and thus need to be liquidated or reorganized. Many surviving firms will need to be downsized or acquired. In normal times, this triage is supported by the court system, banks, and financial markets. The goal of this paper is to size up the coming surge of financial distress, list the challenges it presents in the current environment, and analyze potential policy solutions. …

Provocation And Related Subjective Experiences Along The Dark Tourism Spectrum, Andrew Lacanienta, Gary Ellis, Brian Hill, Patti Freeman, Jingxian Jiang

Faculty Publications

We examined relations between ‘darkness’ of dark tourism sites, provocation, and select indicators of the quality of visitors’ immediate subjective experiences. Experience observations (N = 101) were collected from tourists who visited Auschwitz (Krakow), Schindler’s Factory (Krakow), Execution Square (Paris), and a ghost tour (Edinburgh). Research participants completed measures of provocation and quality of experience at the end of their visits to each site. Hypotheses were founded in four theories: self-determination theory, cognitive dissonance theory, arousal theory, and the theory of structured experience. These hypotheses proposed that particular experience outcomes vary according to the ‘darkness’ of the dark tourism site. …

Rethinking Leisure Time Use Metrics: Greater Diversity In Shared Sibling Leisure Is Associated With Higher Relationship Quality During Emerging Adulthood, Eric K. Layland, Camilla Hodge, Mikala Glaza, Jerrica O. Peets

Faculty Publications

Leisure diversity—the total number of unique leisure categories shared within a sibling dyad—may vary according to sibling characteristics (e.g., sibling gender, age difference) and predict sibling relationship quality. Using triangulated lists, brief narratives, and focus groups, we constructed a taxonomy of shared sibling leisure in emerging adulthood and then calculated individual leisure diversity scores. The sample (N ¼ 185) included college-attending emerging adults with an average age of 20.1 years (35.7% female). Taxonomic analysis suggested 19 categories of shared sibling leisure. Analyses of variance indicated differences by dyadic gender composition in endorsement rates of select leisure categories and average levels …

Dealing With Dysfunction: Negotiating With Difficult Individuals, Marc-Charles Ingerson, Kristen Bell Detienne, Jill M. Hooley, Nathan A. Black

Faculty Publications

Workplace negotiations often present daunting challenges. The negotiation process can test relationships and place reputations at risk. Moreover, in some situations, the difficulty and stress involved in routine negotiations become magnified. Approximately ten percent of working adults have personality styles or behavioral tendencies that can make interactions with them especially challenging. Identifying, understanding, and dealing with personality dysfunction in the negotiation process is therefore a critically important skill (Kessler et al. 2005; Eddy 2018). Today’s negotiators need to be able to recognize and interact with people who have difficult and dysfunctional personality traits.

Unfortunately, many of those on the receiving …

In Situ Engagement During Structured Leisure Experiences: Conceptualization, Measurement, And Theory Testing, Gary D. Ellis, Jingxian Jiang, Patti A. Freeman, Andrew Lacanienta, Elizabeth J. Ellis

Faculty Publications

We conducted an experiment to test theoretical propositions relating coherence, personalization, and provocation to in-situ engagement, deep experience, delight, and perceived value of time spent. Four hundred adults from a national panel viewed one of eight versions of a video centered on a character in Victor Hugo’s classic novel Les Miserables, and then completed measures of engagement, deep experience, delight, perceived value of time spent, preexisting familiarity with the story, and the subjective experience of provocation. Each video represented a unique combination of presence or absence of the three hypothesized determinants: coherence, personalization, and provocation. Coherence, personalization, and preexisting familiarity …

Factors That Facilitate Or Impair Kinesic And Vocalic Nonverbal Behaviors During Interpersonal Deception, Judee K. Burgoon, Lauren M. Hamel, J. Pete Blair, Nathan W. Twyman

Faculty Publications

Nonverbal demeanor has long been thought to be a high-fidelity display window into a person’s inner self. At the same time, nonverbal behaviors are thought by laypeople to be reliable indicators of dissembling. In the realm of deception, both of those beliefs are true—and false. Humans can choose to reveal their personal identity, affiliations, attitudes, and behavioral inclinations through their nonverbal presentation of self. But, as the adaptive creatures that they are, humans also use their nonverbal actions to fabricate, conceal, and evade. In this respect, deception can disguise the true self and yet can also betray the truth. In …

The Practice Of Waqf Land Development In Malaysia: A Social Enterprise Business Perspective, Mohd Ali Norinah

Student Works (2020-2029)

A large percentage (92.8 percent) of waqf lands in Malaysia are undeveloped due to inefficiency of waqf management and financing by the State Islamic Religious Councils (henceforth referred to as the Councils) that function as waqf trustees responsible for generating income from the current waqf to fulfill the needs of the beneficiaries and societies. In view of this issue, the objectives of this thesis are fourfold: (1) To examine the current waqf land development models employed by the Councils as social enterprises in Malaysia; (2) To examine the organizational strengths and weaknesses of the Councils in developing waqf lands; (3) …

Collaborative Regulatory Development In The Mobile Money Sector: A Case Study In Sri Lanka, Suwandaarachchi Chaminda Methsiri

Student Works (2020-2029)

Providing financial services for the unbanked has been challenging, mainly due to relatively high operational costs and the difficulty of reaching remote areas. Mobile money has brought bank-like facilities to the unbanked communities, through its low-cost operations and widespread agent network, thus making them financially included. Regulatory response and support are essential for this advancement, where they necessitate significant changes to the current regulatory practices. This task is difficult for regulators due to their limited technical knowledge and resources in the field of financial technologies. Regulators collaborate with industry to overcome these challenges. However, studies on such collaborations are scarce. …

Penjanaan Ekonomi Masjid Menerusi Aktiviti Perniagaan: Kajian Di Masjid-Masjid Wilayah Persekutuan Kuala Lumpur, Adnan Amru Alhaz

Student Works (2020-2029)

Hubungan di antara masjid dan ekonomi amat berkait rapat mengambil kira sebahagian fungsi asalnya sebagai pusat perkembangan ekonomi masyarakat Islam. Namun begitu kebergantungan institusi masjid kepada sumber pendapatan tradisi mengakibatkan institusi masjid tidak mampu melaksanakan fungsinya secara menyeluruh. Oleh yang demikian, penjanaan ekonomi masjid menerusi aktiviti perniagaan merupakan alternatif terbaik dalam memastikan kelestarian sumber pendapatannya. Justeru kajian ini bertujuan untuk menganalisis sumber pendapatan, aktiviti serta faktor kejayaan perniagaan masjid-masjid kariah di Wilayah Persekutuan Kuala Lumpur (WPKL). Dalam kajian ini, data-data penyata kewangan tahunan rasmi selama tiga tahun (2014-2016) bagi dua belas buah masjid yang mewakili enam buah pusat pentadbiran zon …

Initial Public Offerings And Pricing Anomalies, Hon Wei Leow

Student Works (2020-2029)

Initial Public Offering (IPO) is a form of fundraising through the stock market of which has evolved as an essential platform to study the performance of newly issued shares. In the case of an emerging market like Malaysia, the pricing anomalies that measure the performance of initial return and flipping activity of IPO remain an interesting subject. During the period of Global Financial Crisis (GFC) in 2008-09, it is believed that the market sentiment will affect the initial return of new IPO and oversubscription will be negative, and hence firms will be unwilling to do the new listing on the …

Determinants Of Defense Expenditure In South Korea, So Yeon Lee

Student Works (2020-2029)

This research pointed out the importance of defense spending as an „economic means‟ for national security in South Korea while due to the aftermath of US-China trade war, the threats and tension between North Korea and other neighboring countries such as China have become much more severe. In this context, an empirical study was conducted to investigate the factors determining national defense expenditure with secondary data from 1960 to 2018. The domestic factors namely economic growth, arms trade, the threat of North Korea and the Republic of Korea (ROK)-United States (US) defense alliance were established as those explanatory variables. The …

Female Labour Force Participation In Malaysia, Li Huan Lim

Student Works (2020-2029)

The main objective of this study is to analyse the participation rate of the female labour force in Malaysia in 2015. The female labour force participation rate is the per cent of the female population ages 15 and above are economically active, either by working or by looking for work. Since the independence of Malaysia, the participation of women tends to be lower than men labour force in the labour market. However, these gender differences in labour participation rate have been narrowing substantially in recent decades. The increase in the female labour force may due to education opportunities lead to …

Role Of Technological Capability On Firm Performance Among Palm Oil Mills In Malaysia, Parvand Sima

Student Works (2020-2029)

In spite of its strong economic performance since the 1970s, oil palm mills in Malaysia has faced low technological upgrading. Although the import of capital goods has acted as an effective channel for technology transfer (TT), the lack of strong firm-level in-house upgrading and the presence of barriers has affected mill efficiency levels. Hence, this thesis seeks to examine how firm-level technological capability development (TC) has impacted on firm performance. A quantitative research design using simple random sampling procedure was deployed to gather responses from 54 palm oil mills in Malaysia. The multiple regression analyses revealed that innovation strategy, TT, …

Rethinking The Regulatory Sandbox For Financial Innovation: An Assessment Of The Uk And Singapore, Christopher Chen

Research Collection Yong Pung How School Of Law

After the UK launched the first regulatory sandbox regime in 2016, the approach was quickly transplanted to numerous other countries as a means of promoting innovation, improving competition and enhancing financial inclusion. However, it remains unclear whether the approach can effectively achieve the relevant policy goals and thus justify the differential regulatory treatment. This chapter provides a broad overview of the regulatory sandbox regime and examines its potential benefits and problems. The chapter then provides some empirical evidence by analyzing the sandboxes awarded in the UK and Singapore between 2016 and 2018 with the aim of identifying what the businesses …

Using Social Media For Customer Knowledge Management In Developing Economies: A Systematic Review, Martinson Ofori, Omar El-Gayar

Research & Publications

Knowledge Management (KM) research has theorized that KM activities lead to better firm performance. The current view that there is more external knowledge than exists within organizations has resulted in a preference for customercentric approaches over traditional KM activities. Recent advances in technology has resulted in social media use as an avenue for knowledge creation from the social interaction between brands and their customers. Most research however explore social media’s impact on organizational knowledge in developed economies with little attention to developing economies where KM could be conceptualized differently. In this research, we analyze the extent to which social media …

1990-2020 University Administrative Regulations (Uar), Morehead State University. Office Of The Provost.

Faculty Senate Records

The University Administrative Regulations (UAR) of Morehead State University from 1990 to 2020 that was kept in the Office of the Provost in three-ring binders prior to 2021.

Improving Accountants' Ability To Identify, Manage, And Prevent Fraud In Not-For-Profit Organizations, Gabrielle Pauline Fish

Doctoral Dissertations and Projects

Fraud is a growing problem in the not-for-profit (NFP) sector; this problem increases because of the lack of fraud-prevention preparation had by NFP financial professionals. Furthermore, asset misappropriation is the most commonly perpetrated occupational fraud in NFPs. Although approximately 90% of all reported frauds are asset misappropriation, a gap in existing research results in limited data regarding asset misappropriation in NFPs. This study contains an extensive examination of peer-reviewed research regarding fraud topics, with an emphasis on asset misappropriation. The conceptual framework incorporated the Fraud Management Lifecycle Theory, the Fraud Triangle Theory, the Theory of White-Collar Crime, and the Routine …

An Examination Of The Relationship Between The Capital Asset Pricing Model's Systematic Risk Indicator And Stock Returns, Kacy Edward Crowe

Doctoral Dissertations and Projects

The purpose of this quantitative study was to examine the relationship between the Capital Asset Pricing Model’s risk indicator beta and the average monthly returns for stocks in the S&P 100. The problem addressed was that low beta stocks produced higher returns than high beta stocks. The study was conducted using the S&P 100 constituents. The study expanded the research literature regarding the beta anomaly and found a statistically significant result for an association between beta and average monthly returns for stocks in the S&P 100. The study has implications for investors and financial practitioners as to whether beta can …

Taking Off In Africa: Critical Elements Of Aircraft Engine Manufacturer Engagement That Can Affect Airline Safety Performance, Nathan Michael Woods

Antioch University Dissertations & Theses

Original Equipment Manufacturer (OEM) is a term used in many industries to describe a company that produces parts and equipment that may be marketed by another manufacturer. In the aviation industry, the aircraft engine OEM refers to the company the manufactures engines powering the aircraft. The OEM manufactures the engine, defines the required maintenance to operate the engines, and recommends product modifications. Product modifications are recommended to improve product safety, durability, reliability, and cost of ownership and are formally communicated through issuance of service bulletins. Properly performing the required maintenance and adopting service bulletins is an important element of maintaining …

Understanding The Context And Social Processes That Shape Person- And Family-Centered Culture In Long-Term Care: The Pivotal Role Of Personal Support Workers, Ellen Helena Melis

Antioch University Dissertations & Theses

This single, exemplar case study explored the context and social processes that shape person-and family-centered culture in a long-term care (LTC) home, using grounded theory and situational analysis for the data collection and analysis. Findings revealed one core dimension: needing to be heard, valued, and understood, and five key roles: personal support workers (PSWs), executive director (ED), senior leadership, nurse managers, and residents and families, which informed five dimensions, each focused on enhancing care for residents: (a) attending to residents’ daily care needs (PSWs), (b) advocating strategically (ED), (c) translating vision into programs and policies (senior leadership), (d) ensuring quality …

Too Busy To Be Manipulated: How Multitasking With Technology Improves Deception Detection In Collaborative Teamwork, Nathan W. Twyman, Jeffrey G. Proudfoot, Ann-Frances Cameron, Eric Case, Judee K. Burgoon, Douglas P. Twitchell

Faculty Publications

Deception is an unfortunate staple in group work. Guarding against team members’ deceptive tactics and alternative agendas is difficult and may seem even more difficult in technology-driven business environments that have made multitasking during teamwork increasingly commonplace. This research develops a foundation for a nuanced theoretical understanding of deception detection under these conditions. The intersection of information technology multitasking and deception detection theories is shown to produce various and sometimes competing ideas about how this type of multitasking might affect truthfulness assessments in real-time teamwork. A laboratory study involving a collaborative game helped evaluate the different ideas using manipulated deception …

Successful Moderation In Online Patient Communities: Inductive Case Study, Tanner Skousen, Hani Safadi, Colleen Young, Elena Karahanna, Sami Safadi, Fouad Chebib

Faculty Publications

Background: Online patient communities are becoming more prevalent as a resource to help patients take control of their health. However, online patient communities experience challenges that require active moderation.

Objective: This study aimed to identify the challenges of sustaining a thriving online patient community and the moderation practices employed to address the challenges and manage the online patient community successfully.

Methods: An inductive case study of Mayo Clinic Connect was analyzed using the grounded theory methodology. Insights for the analysis were obtained from semistructured interviews with community managers and community members. Secondary data sources, such as community management documents, observational …

Team Design Thinking, Product Innovativeness, And The Moderating Role Of Problem Unfamiliarity, Varun Nagaraj, Nicholas Berente, Kalle Lyytinen, James Gaskin

Faculty Publications

Team design thinking in new product development (NPD) refers to a set of design-oriented principles that can be embedded in the everyday routines of NPD teams. We theorize that team design thinking enables NPD teams to develop more innovative products––products that are useful and novel––by reducing the routine and cognition-based inertia that constrains the team’s innovativeness. Through a study of 247 NPD projects, we investigate the relationships between team design thinking, product utility, and product novelty. Further, we also explore whether the team’s unfamiliarity with product contexts influences these relationships. Findings show that team design thinking is positively associated with …

What Explains Taxation By Resource-Rich Rebels? Evidence From The Islamic State In Syria, Mara R. Revkin

Faculty Scholarship

Greed-based theories of civil war predict that rebel groups will only engage in taxation and other state-building activities in areas where they lack exploitable resources. However, this prediction is contradicted by the Islamic State’s pattern of taxation across time and space. A new data set mapping seven types of revenue-extracting policies imposed by the Islamic State, a jihadist rebel group, in the 19 Syrian districts that it governed between 2013 and 2017 indicates that these policies were just as prevalent in resource-rich as in resource-poor districts. I propose a new theory that better explains this pattern—a rebel group’s pattern of …

Indenture Trustee Duties: The Pre-Default Puzzle, Steven L. Schwarcz

Faculty Scholarship

This Article addresses a topic at the intersection of finance, agency, contract, and trust law: the pre-default duties of an indenture trustee for bondholders. The existing scholarship on indenture trustee duties focuses on the post-default scenario, when the indenture trustee is required to act as a prudent person in like circumstances on behalf of the bondholders. No prior scholarship addresses an indenture trustee’s predefault duties. It is critical to try to define those duties because activist investors in the $42-trillion-plus bond market increasingly are making pre-default demands on indenture trustees, requiring them to know how to respond.