Business Commons^™

Family Firms And Labor Market Regulation, Morten Bennedsen, Sterling Huang, Hannes F. Wagner, Stefan Zeume

Research Collection School Of Accountancy

In a panel across twenty-eight countries over 10 years, we show that family firms on average enjoy performance advantages over nonfamily firms only when labor markets are less regulated. We confirm this result in a matched firm sample using a survey-based instrument as a family control. Furthermore, family firms exhibit lower variation in employment levels in less-regulated labor markets, supporting the notion that labor relations drive family firms’ performance advantages. Our results are consistent with the notion that both family ownership and labor market reforms provide employment protection and thus partly substitute as governance mechanisms.

Deciphering Financial Statements In Annual Reports, Themin Suwardy, Yew Kee Ho, Edmund Keung

Research Collection School Of Accountancy

In the first of a three-part weekly series on financial literacy, SMU Dean of Postgraduate Professional Programmes and Associate Professor of Accounting (Practice) Themin Suwardy, SIT’s Professor Ho Yew Kee and Associate Professor Edmund Keong from NUS discussed the importance of learning to read and analyse financial statements. They opined that being able to decipher financial statements is critical if an investor wants to have a real understanding of a company's profitability, liquidity and cash position. This will equip them with useful information to make informed decisions.

Board Committees In Corporate Governance: A Cross‐Disciplinary Review And Agenda For The Future, Kalin Kolev, David B. Wangrow, Vincent L. Barker Iii, Donald J. Schepker

Management Faculty Research and Publications

The importance of board committees – specialized subgroups that exist to perform many of the board's most critical functions, such as setting executive compensation, identifying potential board members, and overseeing financial reporting – has grown over time due to increased legal requirements and greater complexity of the environment in which firms operate. This has resulted in a large body of work examining board committees across the accounting, finance, and management disciplines. However, this research has developed rather independently within each discipline, preventing scholars and practitioners from developing a comprehensive understanding of board committees. To address this issue, we conduct a …

Essays On New Keynesian Term Premium Model With Financial Risks, Weiguo Fu

Dissertations, Theses, and Capstone Projects

This dissertation studies the modeling of U.S. Treasury (UST) yield curve term premia under the New Keynesian (NK) framework. Loosely speaking, term premium is the difference between a government bond’s yield for a specific tenor and the average of the expected short rates up to that tenor. The dissertation is divided into three chapters. The first chapter proposes a New Keynesianism-based macro-finance model estimated by a one-step full information maximum likelihood (FIML) method. The second chapter shows that the one-step FIML method may produce estimation biases, which result in biased expected short rates and term premia. The chapter then presents …

Cost Stickiness And Supply Chain Bargaining Power, Binghao (Jimmy) Zhao

Dissertations, Theses, and Capstone Projects

Given the essential role of supply chains in the economy, furthering our understanding of the interactions between trade partners is important. In this paper, I study the relation between cost stickiness and bargaining power over supply chain partners. I document evidence consistent with the argument that firms wield supply chain bargaining power to avoid cost stickiness by shifting high adjustment costs onto their trade partners. In particular, I show that the level of SG&A and COGS stickiness is negatively associated with firms’ bargaining power over their suppliers and customers. My results are robust to using industry competition as an alternative …

Runaway: A History Of Postwar New York In Four Factories, Andy Battle

Dissertations, Theses, and Capstone Projects

At midcentury, New York City was among the preeminent manufacturing centers in the United States. Within a generation, this manufacturing economy suffered an extraordinary collapse. Beginning in the 1950s, workers and their unions began to use the term “runaway” to describe factories that pulled up stakes in New York and set them back down in other climes. This dissertation explores the deindustrialization of New York City through case studies of “runaway” plants, or factories that left New York for the American South or abroad between the years 1945 and 1975.

In general, the manufacturers that remained in New York at …

Place-Making By Black And Latinx Students In Predominantly White Institutions: Participatory Design And Meaning Making Through A Social Enterprise, Joshua P.H. Livingston

Dissertations, Theses, and Capstone Projects

Black and Latinx male retention in post-secondary institutions, particularly predominantly white institutions (PWI), remains a critical social problem. Even though many PWIs set up structures to welcome and support Black and Latinx males, those structures are defined and created through dominant cultural norms. They have been challenged to mitigate the individualized facets of disengagement. A social innovation, proof of concept model was conceptualized, designed, and developed alongside Black and Latinx males in college. Social innovation is defined as a new way of approaching long standing and complex problems. Proof of concept (PoC) helps to validate that processes and designs are …

Analysis Of Credit Enhancement Of Financing Guarantee Company, Tiewei Zhang

Dissertations and Theses Collection (Open Access)

In China, the financing problem of SMEs has been concerned for a long time, but it has not been effectively solved. At present, the development of financing guarantee companies (FGCs) providing credit enhancement services for SMEs is facing severe challenges. Essentially, financing guarantee is a special kind of creditor’s right (debt investor’s rights). The essence of creditor's right is the seller position of put options. Because the return-risk structure of creditor's right is seriously asymmetric, debt investors should follow the prudent and conservative operating principle. The "5Ws" principle or "5Cs" principle of bank loan business is the embodiment of this …

Urban Complex Value Study Based On Management Practice Of China Central Place, Chao Fang

Dissertations and Theses Collection (Open Access)

In recent years in China, with the rapid development of China’s economy, the acceleration of urbanization, the extension of city size and the rapid growth of urban population, living conditions, traffic and environment in the cities are getting worse and worse. Under this background, urban complex integrating a series of functions like “living, business, office, tourism, culture and entertainment etc” has become popular with the urban administrators and developers in many cities. According to relevant statistics, by the end of 2015, there had been more than 2000 urban complexes (including the ones which have been completed, the ones which are …

Political Connections And The Value Of Cash Holdings, Yuanto Kusnadi

Research Collection School Of Accountancy

This study examines how political connections influence the value of cash holdings in an international setting. The main finding reveals that political connections are not associated with the value of cash holdings in the overall sample. However, further analysis demonstrates that political connections are negatively associated with the value of cash holdings for firms inemerging markets and in countries with high levels of corruption. Moreover, the negative valuation of cash holdings is driven by firms that are connected through large shareholders. Overall, the findings provide new insights into the value relevance of cash holdings, especially for politically connected firms.

Do Firms Manage Their Csr Reputation? Evidence From Twitter, Richard M. Crowley, Wenli Huang, Hai Lu, Wei Luo

Research Collection School Of Accountancy

Using a machine learning approach to process 11 million tweets posted by S&P 1500 firms from 2011 through 2016, we find that poor CSR performance firms tweet more about CSR activities and use tweets that are shorter, and with more passive voice and extreme tone. Good CSR performance firms tweet less about CSR, yet gain twice more followers per CSR tweet than poor CSR performance firms. Good CSR performance firms also experience a greater decrease in institutional ownership along with higher increases in bid-ask spread and stock return volatility after joining Twitter than do poor CSR performance firms. Our findings …

Benefits Of Blockchain Initiatives For Value-Based Care: Proposed Framework, Rongen Zhang, Amrita George, Jongwoo Kim, Veneetia Johnson, Balasubramaniam Ramesh

Management Faculty Research and Publications

Background

The potential of blockchain technology to achieve strategic goals, such as value-based care, is increasingly being recognized by both researchers and practitioners. However, current research and practices lack comprehensive approaches for evaluating the benefits of blockchain applications.

Objective

The goal of this study was to develop a framework for holistically assessing the performance of blockchain initiatives in providing value-based care by extending the existing balanced scorecard (BSC) evaluation framework.

Methods

Based on a review of the literature on value-based health care, blockchain technology, and methods for evaluating initiatives in disruptive technologies, we propose an extended BSC method for holistically …

Board Committees In Corporate Governance: A Cross-Disciplinary Review And Agenda For The Future, Kalin Kolev, David B. Wangrow, Vincent L. Barker Iii, Donald J. Schepker

Management Faculty Research and Publications

The importance of board committees – specialized subgroups that exist to perform many of the board's most critical functions, such as setting executive compensation, identifying potential board members, and overseeing financial reporting – has grown over time due to increased legal requirements and greater complexity of the environment in which firms operate. This has resulted in a large body of work examining board committees across the accounting, finance, and management disciplines. However, this research has developed rather independently within each discipline, preventing scholars and practitioners from developing a comprehensive understanding of board committees. To address this issue, we conduct a …

Using Fraud Education To Deter Embezzlement In Small Construction Companies, Karen L. Smith

Doctoral Dissertations and Projects

Fraud education is important in helping small business owners to formulate a strategy for the detection and deterrence of employee embezzlement. This research study was developed to examine cases of employee embezzlement within small construction contractors in efforts to determine the importance of fraud education and to identify factors leading to being victims. Participants were interviewed concerning their experiences with employee embezzlement schemes. The findings support the need for fraud education as none of the participants had any such education. Even those that had some formal business education expressed a lack of understanding of the principles of fraud. In addition …

Effects Of Rescheduling On Patient No-Show Behavior In Outpatient Clinics, Jiayi Liu, Jingui Xie, Kum Khiong Yang, Zhichao Zheng

Research Collection Lee Kong Chian School Of Business

We study the effects of rescheduling on no-show behavior in an outpatient appointment system for both new and follow-up patients. Previous literature has primarily focused on new patients and investigated the role of waiting time on no-show probability. We offer a more nuanced understanding of this costly phenomenon. Using comprehensive clinical data, we demonstrate that for follow-up patients, their no-show probability decreases by 10.9 percentage points if their appointments were rescheduled at their own request, but increases by 6.2 percentage points if they were rescheduled by the clinic. New patients, in contrast, are more concerned about waiting time and less …

Tourism Taxes In Italy: A Sustainable Perspective, Lucia Rotaris, Marta Carrozzo

Journal of Global Business Insights

In Italy, a tourism tax was introduced in 2011, since then it has been adopted in most of the Italian provincial capitals and tourist cities. This tax can mitigate the negative externalities caused by tourists; however, it should be carefully planned both in terms of the amount of money to be levied and in terms of the uses to be financed with the tax revenues, it could, otherwise, negatively impact the tourism sector, decreasing—rather than increasing— the social welfare. The aim of this paper is to assess the acceptability of such a tax and to examine how the tax should …

Youtube Advertising Value And Its Effects On Purchase Intention, Duygu Firat

Journal of Global Business Insights

This study investigated the factors that affect the YouTube advertising value and its effect on purchasing intention. The data were gathered through a 52-item questionnaire administered to YouTube users (n = 420). Multiple regression analysis determined the effect of the factors on YouTube advertising value, and simple regression analysis determined the effect of its value on purchasing intention and ANOVA test was run to determine the differences of demographic groups via YouTube ads value. The findings indicated that informativeness and entertainment and trendiness had a positive effect on YouTube advertising value; however, irritation had a negative effect. In addition, …

Effects Of Organizational Trust And Project Delivery Variables On Bim User Confidence, Jason D. Lucas, Saw Sri Neeharika Vijayarao

The Professional Constructor

The use of Building Information Models (BIM) for construction planning has increased in all areas except for automated processes such as quantity take-off. Many model users lack confidence that a model, typically created by a third party, has accurate enough information in it to rely on the data for planning the project. This research is looking at how factors of organization trust and variables related to project delivery can raise user confidence in these situations. Factors of organizational trust were identified through a literature review. Two surveys were utilized to identify which factors were significant in raising user confidence. Finally, …

Accuracy Of Drone Based Surveys To Measure Stockpile Volume, Joseph M. Burgett, Scott Shaffer, Eric Stuckey

The Professional Constructor

This paper outlines a two phase experiment evaluating the accuracy of volumetric calculations using a commercially available drone and structure-from-motion (SfM) software. In the first phase, a large cardboard pyramid with a known volume was used to simulate a stockpile. Using georeferenced images collected by a Phantom 4 Pro drone and the SfM software ContextCapture, the computed volumes ranged between 1.5% and 3.3% of the actual volume. In the second phase of the experiment, a photometric survey was created of a large SCDOT borrow pit. The volumetric calculations were computed using conventional survey practices and with drone collected images. There …

What Fortune 500 Companies Want: Recruiting In China, Eugene P. Kim, Katherine Bruehler

Journal of Global Business Insights

The growth of Fortune 500 companies in China has its complementary challenge in managing human resources. In this study, we describe the skill sets, language fluency, educational credentials, job experience, and other key job qualifications that are solicited on Fortune 500 Companies’ LinkedIn advertisements in China. The characteristics that were most represented in the job advertisements in our sample of 111 US Fortune 500 companies in China were from companies ranked 201-500 (39.6%), in secondary sectors (57.7%), in Tier 1 cities (91.9%) offering lower management positions (47.8%) requiring a bachelor’s degree (55.9%) and English fluency (55.0%) with 6-10 years of …

The Impact Of Burnout On Organizational Commitment: A Study Of Public Sector Employees In Turkey, Mehmet Sarisik, Erhan Bogan, Burhanettin Zengin, Bekir Bora Dedeoglu

Journal of Global Business Insights

This study investigates the relationship between burnout and organizational commitment. It tests the relationship using a sample of 700 public officers in Istanbul by using structural equation modeling. The model tested via partial least squares method via SmartPls software. Results have shown that employees’ burnout are negatively related to organizational commitment. Specifically, while emotional exhaustion is negatively related to commitment, personal accomplishment contributes positively to commitment. The experience of depersonalization has no significant relationship with all three dimensions of commitment. Findings discussed and some practical implications offered to practitioners as well as some future directions to researchers.

Case Study: Tourism In Traditional Brazilian Quilombo Communities – From Theory Into Practice, Carolin Lusby, Thais Pinheiro

Journal of Global Business Insights

This case study discusses an initiative to aid a traditional Quilombo community in the State of Rio de Janeiro through community-based tourism (CBT). Through the Young Leaders of Americas program, a US Department of State funded initiative, the authors worked together in Brazil and the United States to increase visibility, linkages and awareness of this CBT project. The paper highlights how research in the field influenced what specific steps would be taken in practice to increase the benefits of tourism for the community. CBT as a concept is briefly discussed, and a background of Quilombos in Brazil is given.

Partner Rotation Or Extended Rotations? The Effect Of Confirmation Bias And Motivated Reasoning Bias On Objectivity And Independence: A Framework, Lei Dong, Robert Sarikas, Arsen Djatej

Journal of Global Business Insights

We propose a two-dimensional audit rotation framework on auditors’ rotation that contributes to the discussion on the potential impact of alternatives to strengthen and maintain unbiased attitude, objectivity, and independence. According to the conceptual outlines of this framework, auditors’ objectivity and independence might be enhanced by dealing with confirmation bias and motivated reasoning bias. In this study, we outline and propose potential academic inquiries that could be addressed and tested under this framework. We draw upon research on accounting, auditing, psychology, and economics to discuss the potential consequences of different audit rotation alternates on auditors’ objectivity and independency. A …

Future-Proofing Students In Higher Education With Uav Technology: A Km Case Study, Thomas Menkhoff, Siew Ning Kan, Eugene K. B. Tan

Research Collection Lee Kong Chian School Of Business

In this paper we report experiences in implementing a new course ‘Understanding Drone & Robotics Technology – History, Usage, Ethics & Legal Issues’ at the Singapore Management University (SMU) framed as a strategic knowledge management initiative in an institution of higher learning aimed at capturing, sharing and creating new knowledge about disruptive technologies such as unmanned aerial vehicles (UAVs). We posit the new course as a knowledge innovation initiative (similar to a KM-enabled business case in a corporate setting) in support of the university’s mission and vision so as to deliver new value to students and to stay ahead of …

An Examination Of Corporate Performance And Altman Z-Scores Of Indian Manufacturing Firms, See Liang Foo, Shaakalya Pathak

Research Collection School Of Accountancy

India is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. India registered …

Studying The Relationship Between Japanese Firms' Corporate Health And Results, See Liang Foo, Shaakalya Pathak

Research Collection School Of Accountancy

Japan is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market (the Tokyo Stock Exchange). A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for …

The Minimum Wage And Corporate Tax Planning, Xiaoxi Li, Chee Yeow Lim, Yanping Xu

Research Collection School Of Accountancy

This paper investigates the impact of the minimum wage (MW) on corporate tax planning. By exploiting heterogeneity in the MW level across cities and over time in China, we find that increases in the MW are associated with greater tax planning by firms. Our results are robust to the consideration of a sample of contiguous firms in two adjacent cities subject to different MWs, a change specification and a difference-in-differences research design that exploits the enactment of the Labor Contract Law in 2008 as an exogenous shock to the MW. In cross-sectional analyses, we find that the positive impact of …

What Should Business Schools Be For?, Howard Thomas, Kenneth Starkey

Research Collection Lee Kong Chian School Of Business

Howard Thomas and Kenneth Starkey report on a new initiative that looks to business schools to re-orient themselves to a challenging new future.

Wti Crude Oil Option Implied Var And Cvar: An Empirical Application, Giovanni Barone-Adesi, Marinela Adriana Finta, Chiara Legnazzi, Carlo Sala

Research Collection Lee Kong Chian School Of Business

Using option market data we derive naturally forward-looking, non-parametric and model-free risk estimates, three desired characteristics hardly obtainable using historical returns. The option-implied measures are only based on the first derivative of the option price with respect to the strike price, bypassing the difficult task of estimating the tail of the return distribution. We estimate and backtest the 1%, 2.5%, and 5% WTI crude oil futures option-implied value at risk and conditional value at risk for the turbulent years 2011–2016 and for both tails of the distribution. Compared with risk estimations based on the filtered historical simulation methodology, our results …

Capacity Allocation In Flexible Production Networks: Theory And Applications, Guodong Lyu, Wang-Chi Cheung, Mabel C. Chou, Chung-Piaw Teo, Zhichao Zheng, Yuanguang Zhong

Research Collection Lee Kong Chian School Of Business

In many production environments, a fixed network of capacity is shared flexibly between multiple products with random demands. What is the best way to configure the capacity of the production network and to allocate the available capacity, to meet pre-determined fill rate requirements? We develop a new approach for network capacity configuration and allocation, and characterize the relationship between the capacity of the network and the attainable fill rate levels for the products, taking into account the flexibility structure of the network. This builds on a new randomized allocation mechanism to deliver the desired services.We use this theory to investigate …