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Full-Text Articles in Business

The Interaction Effects Of Ceo Power, Social Connections And Incentive Compensation On Firm Value, Gary Caton, Choo Yong, Jeremy Goh, Jinghao Ke, Scott C. Linn Jan 2015

The Interaction Effects Of Ceo Power, Social Connections And Incentive Compensation On Firm Value, Gary Caton, Choo Yong, Jeremy Goh, Jinghao Ke, Scott C. Linn

Research Collection Lee Kong Chian School Of Business

We study the relation between company value and the interplay between CEO power, CEO equity incentives and the friendliness of the board of directors. Following Bebchuk, Cremers and Peyer (2011), we measure CEO power as the proportion paid to the CEO of the total compensation paid to the top five executives of the firm. We find that strong CEO equity incentives and the presence of a friendly board of directors both individually moderate the negative effect of CEO power on Tobin’s q. Moreover, these variables also work together. We find that firm value tends to increase when equity incentives are …

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Evaluating An Organization's Response To Vicarious Trauma In Staff And Multidisciplinary Team Members, Molly O'Neil Jan 2015

Evaluating An Organization's Response To Vicarious Trauma In Staff And Multidisciplinary Team Members, Molly O'Neil

Antioch University Dissertations & Theses

Program evaluation method was utilized to examine the relationship between vicarious rauma (VT) and organizational policies and practices. VT and secondary traumatic stress (STS) refer to the impact of hearing explicit accounts of people being directly traumatized. Indirect exposure to a traumatic events can cause traumatic stress and changes in the person's way of experiencing the self and the world. The focus of this evaluation was developed collaboratively with the Clinical Director of Monarch Children's Justice and Advocacy Center (MCJAC), the site of the program evaluation. The question of study was How effectively is MCJAC addressing vicarious trauma in staff, …

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Amo Framework And Psychological Empowerment: Conceptual Model Decoding The Black Box Between Hrm And Innovative Work Behavior, Wali Ur Rehman, Mansoor Ahmad Jan 2015

Amo Framework And Psychological Empowerment: Conceptual Model Decoding The Black Box Between Hrm And Innovative Work Behavior, Wali Ur Rehman, Mansoor Ahmad

Business Review

Firms operate in an environment which is influenced by external forces like, government, professional associations, the competitors and other similar organizations operating in the organizational field (Dimaggio & Powell, 1983); knowledge intensive firms, are no exceptions. Purpose of this article is to devise comprehensive conceptual and statistical models for opening the black-box between high-involvement HR practices and innovative work behavior of employees working in knowledge intensive companies. The article explains the Ability-Motivation-Opportunity framework as the generating mechanism through which HR practices affect innovative work behavior through psychological empowerment and supportive work environment. Propositions are developed for future research endeavors, in …

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Measuring Work Stress Of Marketing Professionals, Nauman Abdullah, Shaukat Ali Raza, Mahr Mohammad Saeed Akhtar Jan 2015

Measuring Work Stress Of Marketing Professionals, Nauman Abdullah, Shaukat Ali Raza, Mahr Mohammad Saeed Akhtar

Business Review

The study investigated the work stress of marketing professionals in terms of organizational factors, environmental factors and personal factors. Marketing professionals of 51 corporations from twelve sectors of industry listed with Lahore Stock Exchange constituted the sample. An adapted questionnaire having 34 items was used to collect the data. Mean scores were calculated for measuring the significance analysis. Frequencies, standard deviation, one-sample t-test, independent samples t-test, and oneway ANOVA were used to measure and compare the level of stress of the marketing professionals. The study concluded that there was an inconsiderable level of stress among marketing professionals. However, personal factors …

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Determinants Of Capital Structure Of Service And Manufacturing Sectors Of Pakistani Companies Listed In Karachi Stock Exchange, Zahid Ali Channar, Manisha Bai Maheshwari, Piribhat Abbasi Jan 2015

Determinants Of Capital Structure Of Service And Manufacturing Sectors Of Pakistani Companies Listed In Karachi Stock Exchange, Zahid Ali Channar, Manisha Bai Maheshwari, Piribhat Abbasi

Business Review

Capital structure alludes to how an organization finances its operations whether through shareholders equity, debt or a blending of both. This study was aimed to find out the determinants of capital structure in Manufacturing and Service Sectors of Pakistan and examine which capital structure theory (Trade off theory or Pecking order theory) is relevant in Pakistani context. For study secondary data was collected from financial statements of 30 Companies and then data was analyzed through Correlation and Multi Regression analysis. Results showed that leverage has negative significant relationship with tangibility in both sectors which conformed Pecking order theory is followed …

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Easypaisa: Seizing The White Space And Business Model Innovation, Nasir Afghan Jan 2015

Easypaisa: Seizing The White Space And Business Model Innovation, Nasir Afghan

Business Review

EasyPaisa is a diversification case study written about two very different organizations, a Telco and Microfinance Bank, and how they merged to create a new business. This new business was providing Mobile Financial Services. Both Telenor (a Telco) and Tameer Bank (Microfinance bank) saw a business opportunity in branchless banking (business white space). They were committed to make this acquisition successful, where Telenor bought over 51%sharesof Tameer Bank. However, as per regulations, the branchless banking model is to be governed under a bank-led model. Therefore, the face of EasyPaisa has always been Tameer Bank which is expected to manage all …

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Trans-Boundary Pollution And Strategic Environmental Policy, Manabendra Dasgupta, Seung Dong Lee Jan 2015

Trans-Boundary Pollution And Strategic Environmental Policy, Manabendra Dasgupta, Seung Dong Lee

Journal of Business, Industry, and Economics

We use a three country-one good oligopoly model to analyze the impact of a Free Trade Areas (FTA) between countries 1 and 2 on tariffs and pollution taxes in the presence of both local and trans-boundary pollution. We show that FTA between countries 1 and 2 does not necessarily lower tariffs imposed by FTA members on country 3 while tariffs imposed by country 3 (rest ofthe world) will higher. Furthermore, FTA will lower pollution taxes imposed by FTA members while it will raise taxes imposed by rest of the world. We show that under FTA while the environmental taxes are …

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Corporate Lobbying – The Tradeoff Between Payback, Accountability/Responsibility, And Democracy, Bruce A. Kibler Phd, Kathleen V. Kibler Jan 2015

Corporate Lobbying – The Tradeoff Between Payback, Accountability/Responsibility, And Democracy, Bruce A. Kibler Phd, Kathleen V. Kibler

Journal of Business, Industry, and Economics

his paper attempts to lay out a general framework of democracy and the role of economic actors within this framework drawing on the principles of corporate governance and the checks and balances of the Principle-Agency theory. The discussion necessarily encompasses the concept of externalities, i.e., costs encompassed by the license to operate and the developmental path of how these have been handled by the economic and political spheres over time.

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Some Tweaks To The Andersen – Jordan St. Louis Equation, Peter V. Vias Jan 2015

Some Tweaks To The Andersen – Jordan St. Louis Equation, Peter V. Vias

Journal of Business, Industry, and Economics

This paper briefly reviews the published arguments and criticisms related to the famous Andersen – Jordan (1968) St. Louis equation. The improvements and critiques that have evolved over the past forty-five years are outlined and a new set of refinements are offered. Agreeing with Wilkins’ (2013) argument for using a lagged dependent variable, a fresh empirical analysis is performed by the author. A new private consumption dependent variable is employed; monetary aggregates rather than monetary base are used, as is total government spending rather than surpluses or deficits, although those are also run for comparison. Endogeneities are fleshed out by …

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Literature Mining For Common Statistical Errors, Randy Ryker, Chuck Viosca Jan 2015

Literature Mining For Common Statistical Errors, Randy Ryker, Chuck Viosca

Journal of Business, Industry, and Economics

Researchers from most academic disciplines use statistical tools to analyze experimental and observational data. Unfortunately there is evidence that a disturbing number of peer-reviewed articles that use statistical methods use them incorrectly. Prior research has found this to be a problem in journals dedicated to a variety of fields including medicine, psychology, business and education. Currently, the identification of common statistical errors in journal articles involves a manual and thus very labor-intensive process. As a result, only a small number of articles in a few disciplines from a limited set of journals have been assessed. In this paper we propose …

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Outside Director Compensation In The Reit Industry, Wikil Kwak, Richard File, Burch Kealey Jan 2015

Outside Director Compensation In The Reit Industry, Wikil Kwak, Richard File, Burch Kealey

Journal of Business, Industry, and Economics

The real estate investment trust (REIT) companies’ environment is interesting for testing direct compensation issues, because of their unique regulated characteristics. The agency theory posits that boards of directors should monitor managers’ activities for the firms’ stockholders. However, at the turn of century firm failures and the market crash in 2008 have led to increased stockholder activism and the passing of Sarbanes–Oxley in 2002 and Dodd-Frank in 2010. These generally applied regulations have increased the pressure on boards to be more effective agents for stockholders. Director compensation is an important issue and our paper will empirically investigate these issues on …

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Within & Without: Singapore In The World; The World In Singapore, Eng Fong Pang, Arnoud De Meyer Jan 2015

Within & Without: Singapore In The World; The World In Singapore, Eng Fong Pang, Arnoud De Meyer

Research Collection Lee Kong Chian School Of Business

Contents: We, the Citizens of Singapore by Priscilla Chia, Trenton James Riggs; Birth of a Nation: Ways of Celebrating by Celine Alexandra Fogde, Diana Khanh Nguyen, Paul Antoine Victor, Shu Chong Chen, Teo Yi Heng; Building Cross-cultural Bridges by Vani Shriya, Timoteo Marra, Svenja Nicole Schulte, Seow Guan Wen, Niklas Miro Utrobicic; Faces and Facets of Singapore by Felix Brockerhoff, Elizabeth Fong Lin, Kevin Ng Boon Kiat, Racheal Wong Shu Yi, Tam Zhi Yang; Missing the Forest for the (Super) Trees by Nick Chiam Zhi Wen, Teo Yi Heng; Singapore: The Country Where You Cannot Chew Gum? by Felix Brockerhoff; …

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Quantitative Study Of Housing Price Based On Huff Model And Hedonic Method, Yuan Li, Lang He, Junfeng Jiao, Guoqiang Shen Jan 2015

Quantitative Study Of Housing Price Based On Huff Model And Hedonic Method, Yuan Li, Lang He, Junfeng Jiao, Guoqiang Shen

Research Collection College of Integrative Studies

Using Hedonic and Huff model, we conduct empirical study of the ordinary commercial housing price’s spatial pattern in Xiamen City, China. This paper mainly focus on the following three issues: (1) Exploring the 21 potential factors that influence spatial distribution of housing price; (2) The relationship between commercial size and housing price; (3) Quantitative analysis about the five primary factors’ mode of action and saliency characteristics. In the numerous variables, allocation of educational resources and the distance between housing and shopping malls and supermarkets based on Huff model have Significant impact on housing price.

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Asset Price Bubbles With Specific Focus On Stock Prices In Pakistan, Nawaz Ahmad, Rizwan Raheem Ahmed, Yaseen Ahmed Meenai Jan 2015

Asset Price Bubbles With Specific Focus On Stock Prices In Pakistan, Nawaz Ahmad, Rizwan Raheem Ahmed, Yaseen Ahmed Meenai

Business Review

This research paper is an attempt to investigate Asset Price Bubbles (APB) with reference to Pakistan stock market. The analysis of time series graph shows a linear trend between Consumer Price Index (CPI) and Money Supply Index (M2I) whereas a nonlinear trend with stock prices. Moreover, the graph also shows an unequal spread with the stock prices, which indicate Heteroskedasticity. Then, descriptive statistics test shows high Standard Deviations for stock prices compared with CPI and M2I, which indicate a higher volatility in stock prices. Finally, the hypothesis test for equality of variance concluded the presence of Asset Price Bubbles by …

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Revisiting Compensating Wage Differentials: The Evidence From Employer-Provided Health Insurance, Dan Qu Jan 2015

Revisiting Compensating Wage Differentials: The Evidence From Employer-Provided Health Insurance, Dan Qu

Business Review

This paper uses 1996 and 2001 Survey of Income and Program Participation to examine the evidence for compensating wage differentials associated with employer-provided health insurance (EHI) in the United States. The results provide no evidence of a tradeoff between wages and EHI coverage. On the other hand, the results do suggest that employees who work in states with income taxes are more likely to receive EHI than those in states without income taxes. Fixed effects, first differencing and instrumental variable estimation are used to address the potential ability bias and endogeneity problems in wage models with EHI as an independent …

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Profiling Organizational Culture Of Different Sectors In Pakistan, Zaki Rashidi, Nadeem A. Syed, Sajida Zaki Jan 2015

Profiling Organizational Culture Of Different Sectors In Pakistan, Zaki Rashidi, Nadeem A. Syed, Sajida Zaki

Business Review

Organizational Culture is gaining importance in the modern organization theory and research. Mangers are more emphasizing to understand the culture and climate of their organization to enhance the effectiveness and productivity of the organization. Organizational development practitioners and change management flag bearers harmoniously favoring to comprehend the culture of any organization for any kind of change or transformation. Organizational Culture Profile (OCP) provides the basic tool to analyze and figure out the type and nature of cultural stream of any organization. The OCP helps to create the cultural-profile of the organization through a survey of the employees. This study encompasses …

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Global Alliance Approach For Effectiveness Of Higher Education In Business Studies - A Case Approach, Arup Barman Jan 2015

Global Alliance Approach For Effectiveness Of Higher Education In Business Studies - A Case Approach, Arup Barman

Business Review

This paper covers the issue of foreign collaboration in the Indian Business Education and its implications on professionalism and development of competence among the budding managers. The issue of foreign collaboration in Indian Business Education is considerably significant issue in the light of India as an emerging economic power and business. Already there is considerable flow of foreign collaboration in Indian business education witnessed by the institutional partnership. The existing institutional partnership and the future intension of foreign players are entering in business educations have been impacting in the new professional development as well as to develop professional competence in …

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Front Matter Of Volume 10 Number 1, Tufail A. Qureshi Jan 2015

Front Matter Of Volume 10 Number 1, Tufail A. Qureshi

Business Review

Front Matter, Contents and Editorial Perspective

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Fortifying Leisure: Adolescent Perspectives Of Family Leisure In Uganda, Rachel A. Mcgovern, Stacy Taniguchi, Julie M. Hite, Steven J. Hite, Mark A. Widmer, Christopher B. Mugimu, Yusuf K. Nsubuga Jan 2015

Fortifying Leisure: Adolescent Perspectives Of Family Leisure In Uganda, Rachel A. Mcgovern, Stacy Taniguchi, Julie M. Hite, Steven J. Hite, Mark A. Widmer, Christopher B. Mugimu, Yusuf K. Nsubuga

Faculty Publications

This study examined family leisure patterns and meanings of family leisure from the perspective of adolescents living in the Mukono District of Uganda. Sixty-eight secondary students were interviewed. Results indicate Ugandan adolescent definitions of leisure reflect leisure as free time and leisure as a means to an end. Students mentioned three primary family leisure outcomes (enjoyment/fun, personal development, and family development) that point toward a core theme. Fortifying describes the importance Ugandan youth place upon family leisure outcomes that strengthen the individual to overcome inevitable challenges they will face throughout their lives and enable them to succeed, especially through family …

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The Effect Of Information Choice On Auditors’ Judgments And Confidence, Steven D. Smith, William B. Tayler, Douglas F. Prawitt Jan 2015

The Effect Of Information Choice On Auditors’ Judgments And Confidence, Steven D. Smith, William B. Tayler, Douglas F. Prawitt

Faculty Publications

Previous research finds that individuals place more weight on information when they choose to obtain it than when they acquire it without explicit choice. We examine whether litigation risk and auditor experience influence auditors’ susceptibility to this information choice effect. In our experiment, auditor participants evaluate the likelihood of an inventory obsolescence issue for a hypothetical client subsidiary. We find that in a high litigation risk setting, less-experienced auditors weight information they choose to acquire more heavily than do less-experienced auditors who acquire the same information without choice. Further, we predict and find that auditors choosing to acquire information are …

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Compensation Or Feedback: Motivating Performance In Multidimensional Tasks, Margaret H. Christ, Scott A. Emett, William B. Tayler, David A. Wood Jan 2015

Compensation Or Feedback: Motivating Performance In Multidimensional Tasks, Margaret H. Christ, Scott A. Emett, William B. Tayler, David A. Wood

Faculty Publications

Employees often perform tasks with multiple dimensions. In this study, we examine how employees’ performance on multidimensional tasks differs under different control structures. We conduct two experiments in which we manipulate the presence of compensation controls and the presence of feedback controls on multiple task dimensions. Our findings suggest that when employees are compensated on multiple dimensions they commit to multiple goals and divide their attention among those task dimensions. However, when feedback controls are implemented on one task dimension with compensation controls on another dimension, employees can improve performance on individual dimensions as well as their overall task performance. …

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Controls And The Asymmetric Stickiness Of Norms, Scott A. Emett, Ronald N. Guymon, William B. Tayler, Donald Young Jan 2015

Controls And The Asymmetric Stickiness Of Norms, Scott A. Emett, Ronald N. Guymon, William B. Tayler, Donald Young

Faculty Publications

This study investigates how formal control systems and the behavior of peers influence behavior in accounting settings. We manipulate formal controls and peer behavior (social norms) in a laboratory experiment, allowing us to precisely investigate the interactive effect of these two factors on behavior. We provide evidence that weak controls lead to more socially-interested behavior, while strong controls lead to more self-interested behavior. We also provide evidence that individuals conform more to social norms that conflict with the behavior that formal controls induce. Finally, we find that individuals preferentially attend and conform to the self-interested actions of peers (as opposed …

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Disclosure Transparency About Activity In Valuation Allowance And Reserve Accounts And Accruals-Based Earnings Management, Cory A. Cassell, Linda A. Myers, Timothy Seidel Jan 2015

Disclosure Transparency About Activity In Valuation Allowance And Reserve Accounts And Accruals-Based Earnings Management, Cory A. Cassell, Linda A. Myers, Timothy Seidel

Faculty Publications

We examine the relation between the transparency of disclosures about activity in valuation allowance and reserve accounts and accruals-based earnings management. We classify disclosures as being transparent if they provide detailed information about activity in the allowance and reserve accounts during the fiscal period. We find strong evidence that the extent of accruals-based earnings management is lower among companies with transparent disclosures than among companies without transparent disclosures. We also investigate whether the extent of accruals-based earnings management is lower for companies that provide transparent disclosures in one comprehensive schedule (i.e., the Schedule II) relative to those that provide transparent …

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Market (In)Attention And The Strategic Scheduling And Timing Of Earnings Announcements, Ed Dehaan, Terry Shevlin, Jacob Thornock Jan 2015

Market (In)Attention And The Strategic Scheduling And Timing Of Earnings Announcements, Ed Dehaan, Terry Shevlin, Jacob Thornock

Faculty Publications

We investigate whether managers “hide” bad news by announcing earnings during periods of low attention, or by providing less forewarning of an upcoming earnings announcement. Our findings are consistent with managers reporting bad news after market hours, on busy days, and with less advance notice, and with earnings receiving less attention in these settings. Paradoxically, our findings indicate that managers also report bad news on Fridays, but we do not find lower attention on Fridays. Further, we find negative returns when the market is notified of an upcoming Friday earnings announcement, which is consistent with investors inferring forthcoming bad news.

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An Examination Of How Entry-Level Staff Auditors Respond To Tone At The Top Vis-À-Vis Tone At The Bottom, Jeffrey Pickerd, Scott L. Summers, David A. Wood Jan 2015

An Examination Of How Entry-Level Staff Auditors Respond To Tone At The Top Vis-À-Vis Tone At The Bottom, Jeffrey Pickerd, Scott L. Summers, David A. Wood

Faculty Publications

Prior academic and practitioner literature argues that the ethical tone at the top of an organization is a key factor in establishing an effective internal control environment. Drawing on self-concept maintenance theory and in-group bias theory, we predict that entry-level staff auditors will disregard a company’s ethical standards unless they observe a strong ethical tone from both their partner (tone at the top) and their supervising senior (tone at the bottom). Also, we predict that staff auditors will be more influenced by the tone of their supervising senior than the partner when these two individuals provide conflicting tones. In a …

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Rotational Internal Audit Programs And Financial Reporting Quality: Do Compensating Controls Help?, Margaret H. Christ, Adi Masli, Nathan Y. Sharp, David A. Wood Jan 2015

Rotational Internal Audit Programs And Financial Reporting Quality: Do Compensating Controls Help?, Margaret H. Christ, Adi Masli, Nathan Y. Sharp, David A. Wood

Faculty Publications

A report from the Institute of Internal Auditors finds that a majority of Fortune 500 companies systematically rotate internal auditors out of the internal audit function and into operational management (IIA, 2009a). We use semi-structured interviews with 11 chief audit executives and 2 audit committee chairmen to develop an initial framework focusing on how this practice affects financial reporting quality. We then test these associations with archival data and find that companies that use a rotational staffing model for the internal audit function have significantly lower financial reporting quality than companies that do not. However, we find that several compensating …

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The Effects Of Using The Internal Audit Function As A Management Training Ground Or As A Consulting Services Provider In Enhancing The Recruitment Of Internal Auditors, F. Greg Burton, Matthew W. Starliper, Scott L. Summers, David A. Wood Jan 2015

The Effects Of Using The Internal Audit Function As A Management Training Ground Or As A Consulting Services Provider In Enhancing The Recruitment Of Internal Auditors, F. Greg Burton, Matthew W. Starliper, Scott L. Summers, David A. Wood

Faculty Publications

This paper examines factors that influence job applicants’ willingness to apply for positions in internal auditing. We predict and find evidence that job applicants are dissuaded from applying for internal audit positions. In two separate experiments involving participants at seven universities, we discover that this phenomenon is most prevalent for applicants with business experience. Experienced applicants are 20 and 33 percent less willing to apply for a position if it is labeled as “internal audit” versus “accounting” in the two experiments, respectively. In addition, we find that the only experimental condition that increases interest in applying for an internal audit …

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The Comovement Of Investor Attention, Michael S. Drake, Darren T. Roulstone, Jared Jennings, Jacob Thornock Jan 2015

The Comovement Of Investor Attention, Michael S. Drake, Darren T. Roulstone, Jared Jennings, Jacob Thornock

Faculty Publications

Prior literature has documented that investor attention and constraints on that attention are associated with the pricing of stocks. We introduce the concept of attention comovement, which is the extent to which investor attention for a firm is explained by attention paid to the firm’s industry and the market in general. We find that attention comovement is non-trivial for the average firm and is related to firm characteristics, such as size and visibility. We also find that the comovement of investor attention has market consequences, in that it is positively associated with excess stock return comovement. Finally, we show that …

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The Usefulness Of Historical Accounting Reports, Michael S. Drake, Darren T. Roulstone, Jacob Thornock Jan 2015

The Usefulness Of Historical Accounting Reports, Michael S. Drake, Darren T. Roulstone, Jacob Thornock

Faculty Publications

In this study we investigate the usefulness of historical accounting reports(10-Ks and 10- Qs) by examining four settings where we expect investors to acquire historical reports in order to obtain qualitative and quantitative information that contextualizes and conditions information released in the current period. Using a novel dataset that tracks user requests for accounting reports stored in the SEC EDGAR database, we find that requests for historic reports during the fiscal year are positively associated with financial reporting complexity and that requests around earnings announcements are positively associated with accounting discretion and negative earnings shocks (particularly for conservative firms). Finally, …

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March Market Madness: The Impact Of Value-Irrelevant Events On The Market Pricing Of Earnings News*, Michael S. Drake, Kurt H. Gee, Jacob Thornock Jan 2015

March Market Madness: The Impact Of Value-Irrelevant Events On The Market Pricing Of Earnings News*, Michael S. Drake, Kurt H. Gee, Jacob Thornock

Faculty Publications

Each year, the NCAA basketball tournament (March Madness) is a daytime distraction for millions of people, providing a largely exogenous shock to investor attention. We investigate whether March Madness influences the market response to earnings by diverting investor attention away from earnings news. We find that the price reaction to earnings news released during March Madness is muted. This result generally holds across several samples and additional analyses. We also find that the result is more muted for low institutional ownership firms, consistent with the effect being driven by less-sophisticated investors. Furthermore, we find that it takes the market 30 …

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