Business Commons^™

Is Carbon Risk Priced In The Cross Section Of Corporate Bond Returns?, Tinghua Duan, Frank Weikai Li, Quan Wen

Research Collection Lee Kong Chian School Of Business

This article examines the pricing of a firm’s carbon risk in the corporate bond market. Contrary to the “carbon risk premium” hypothesis, bonds of more carbon-intensive firms earn significantly lower returns. This effect cannot be explained by a comprehensive list of bond characteristics and exposure to known risk factors. Investigating sources of the low carbon alpha, we find the underperformance of bonds issued by carbon-intensive firms cannot be fully explained by divestment from institutional investors. Instead, our evidence is most consistent with investor underreaction to the predictability of carbon intensity for firm cash-flow news, creditworthiness, and environmental incidents.

Industry Peer Information And The Equity Valuation Accuracy Of Firms Emerging From Chapter 11, Bingxu Fang, Sasan Saiy, Dushyantkumar Vyas

Research Collection School Of Accountancy

Valuation plays a central role in determining Chapter 11 reorganization outcomes. However, obtaining accurate valuation estimates of reorganized firms is challenging because of limited firm-specific market-based information and the oft-conflicting incentives of claimholders. We examine the role of industry peer information in reducing misvaluations and its implications for unintended interclaimant wealth transfers and postreorganization performance. First, we find that the availability of relevant industry peer information is negatively associated with equity valuation errors for firms emerging from Chapter 11. Cross-sectional results suggest that the relation between industry peer information and valuation errors varies substantially with debtors’ information environment and case …

From The Accounting Graduate’S And The Employer’S Perspectives: Exploring The Key Roles In Making Skill Acquisition And Transfer Happen, Gary Pan, Poh Sun Seow, Clarence Goh, Duan Ning, Magdeleine Lew

Research Collection School Of Accountancy

While extant research has discussed how a teacher’s role may have to change when facilitating accounting students’ learning in today’s fast-moving accounting landscape, nevertheless, little is known about the roles played by the accounting graduate and the employer in a similar process. To plug this knowledge gap in the accounting education literature, this study aims to address the following research question: What are the key roles played by the accounting graduate and the employer in the process of skill acquisition and transfer from the university to the workplace? By applying Fitts and Posner’s (1967) three stages of learning and adopting …

Green Innovation And Firms’ Financial And Environmental Performance: The Roles Of Pollution Prevention Versus Control, Qiang Cheng, An-Ping Lin, Mengjie Yang

Research Collection School Of Accountancy

This study examines the effects of firms' green innovation on their future financial and environmental performance. If pollution is primarily a manifestation of wasted resources, then investments in pollution prevention technologies can both reduce the environmental impact of production and improve financial performance. In contrast, investments in pollution control technologies likely reduce the environmental impact of production without improving financial performance. Using green patents to capture firms' investments in these two types of technologies, we find that the value of a firm's pollution prevention patents is positively associated with its future financial and environmental performance, and that the positive impact …

Geographic Distance And State's Grip: Information Asymmetry, State Inattention, And Firm Implementation Of State Policy, Xiyi Yang, Heli Wang, Xiaoyu Zhou

Research Collection Lee Kong Chian School Of Business

In this study, we develop the argument that geographic distance between the state and local governments undermines the state's capacity to influence the implementation of state policies by local organizations. Drawing from information economics and the attention-based view, we propose that physical distance reduces the state's monitoring effectiveness through two interrelated mechanisms: information asymmetry and state leaders' inattention to distant issues. Using data of Chinese public firms' implementation of environmental activities between 2008 and 2016, we find that firms conduct fewer environmental activities required by the state when they are regulated by local governments that are more geographically distant to …

Information Spillover And Corporate Policies: The Case Of Listed Options, Gennaro Bernile, Jianfeng Hu, Guangzhong Li, Roni Michaely

Research Collection Lee Kong Chian School Of Business

Information production associated with derivatives markets is not a sideshow; rather, it has significantly positive spillover effects on an array of corporate decisions of underlying firms. Using a regression-discontinuity design based on exogenous variation in options availability as an instrument for changes in the information environment, we show that options introductions have causal effects on corporate policies on both sides of the balance sheet. Through improved information efficiency, options availability reduces the need for debt and payout, increases efficient investment, and yields superior innovation. We conduct two independent experiments demonstrating that our instrument s impact is not derived from alternative …

The Boundaries Of The Law: Can Us Private Enforcement Discipline Foreign Firms?, Massimo Massa, Xiaoqiao Wang, Bohui Zhang, Hong Zhang

Research Collection Lee Kong Chian School Of Business

Existing studies tend to focus on how a legal system reinforces the efficiency of its domestic firms or foreign companies that are subject to its domestic jurisdiction (e.g., via cross-listing). Our study provides critical normative implications in the era of financial globalization by showing that the influence of a country’s legal institutions extend beyond its territorial boundaries. We examine whether US shareholder-initiated class action lawsuits can discipline non-US firms. Using an international sample of firms over the period 1994–2019, we find that a US class action lawsuit against a non-US firm cross-listed in the US negatively affects the value of …

Technology-Enhanced Personalized Learning: Lessons From Online Teaching At Three South-East Asian Universities, Kiran Kaur, Rohaida Mohd Saat, Lieven Demeester, Magdeleine Lew, Wei Leng Neo, Nopphol Pausawasdi, Thasaneeya Ratanaroutai Nopparatjamjomras

Research Collection Lee Kong Chian School Of Business

Online teaching during the COVID-19 pandemic compelled many instructors to seek efficient and effective ways to stay connected with their students and improve the learning experience by using a wide range of available technologies. This multiple-case study, in three South-East Asian universities, investigated whether the use of technology in university teaching and learning during that period influenced personalized learning, and if so, how. The study also explored the kinds of institutional support for teachers and learners that led to increased technology-enhanced personalized learning (TEPL). Using a qualitative approach, the study analyzed 23 individual interviews and 3 document analyses (circulars, announcements, …

Something In The Air: Does Air Pollution Affect Fund Managers’ Carbon Divestment?, Thanh Huynh, Frank Weikai Li, Ying Xia

Research Collection Lee Kong Chian School Of Business

We examine whether fund managers overestimate carbon risk when they are exposed to local air pollution. We find that air pollution causes managers to underweight stocks of high-emission firms. The effects are stronger for less salient scopes of carbon emissions, among managers located in pro-environmental states, and among those likely to be surprised by air pollution—consistent with the idea that managers revise their beliefs about climate-transition risk following their exposure to air pollution. Carbon-intensive stocks sold by managers who are exposed to air pollution subsequently outperform stocks that they buy, suggesting that such underweighting is costly to fund investors.

Star Inventors, Knowledge Complexity And Collaborative Ties: What Drives Deference In Invention Teams?, Metin Onal Vural, Simon J.D. Schillebeeckx

Research Collection Lee Kong Chian School Of Business

This paper provides an empirical investigation of factors that drive deference in an invention team setting. Drawing on innovation literature, we hypothesise and test the distinct factors that determine the extent of deference an inventor receives in an invention team. Using patent data from U.S. semiconductor industry, we show that star inventors command deference among their peers and that this effect is moderated by stars’ embeddedness in knowledge, social and geographical context. Deference is amplified when stars have complex knowledge, but not necessarily when they have strong ties. When the stars are geographically distant from their peers, the amount of …

Does Felt Obligation Or Gratitude Better Explain The Relationship Between Perceived Organizational Support And Outcomes?, Robert Eisenberger, Xueqi Wen, Dianhan Zheng, Jia Yu, Zihan Liu, Jing Zhang, Lei Wang, Tae-Yeol Kim, Sara Krivacek, Thomas J. Zagenczyk, Min-Kyu Joo, Salar Mesdaghinia, Deog-Ro Lee, Tae-Hyun Kim

Research Collection Lee Kong Chian School Of Business

The employee-organization relationship (EOR) is a key component of organizational behavior. Researchers have consistently shown that employees who perceive that they are supported by their organizations (favorable EORs) tend to have positive attitudes and behave in a manner that helps the organization to reach its goals. For many years, the reciprocity norm (e.g. felt obligation) has been a widely accepted explanation for the EOR. Yet, despite calls to explore additional pathways, little work has examined other mediating mechanisms between favorable EORs and outcomes. We draw on the affect theory of social exchange to argue for the mediating effects of gratitude, …

When Leaders Self-Sacrifice In Times Of Crisis: The Roles Of Employee Emotional Suppression And Leader Coping Strategies, Xingyu Wang, Xueqi Wen, Zihan Liu, Yixing Lisa Gao, Juan M. Madera

Research Collection Lee Kong Chian School Of Business

While literature articulates the relevance of self-sacrificial leadership to crisis situations, little attention has been paid to employees’ attitudinal and behavioral responses to self-sacrificial leadership. This is a particularly salient gap in the scholarship, given the decisions leaders must make to address challenges in the hospitality industry (e.g., the COVID-19 pandemic). Drawing on conservation of resources theory, this pair of field and experimental studies examines how individual differences in employee emotional suppression and leader coping strategy moderate the impacts of self-sacrificial leadership on employee perceptions of leader effectiveness. By sampling U.S. hospitality employees, the studies reveal that leaders who display …

Exploring The Dynamics Of Volitional Personality Change: A Psychoeducational Intervention Study With Young Adults Transitioning To The Workforce, Erica Baranski, Ramona L. Martinez, Zihan Liu, Kevin Hoff

Research Collection Lee Kong Chian School Of Business

College graduates transitioning to the workforce completed a 13-week, light, psychoeducation intervention designed to increase volitional personality change motivation via weekly email newsletters. Contrary to expectations, the intervention did not significantly enhance overall change motivation or consistently inspire desired trait change goals following the study period or after 6 or 10 months. However, participants in the intervention group did report increased desire to change emotional stability at specific points during the study. These findings underscore the limitations of this particular psychoeducational intervention approach and help to fill in the boundary conditions of when and how personality change is possible. Additionally, …

Internationalization And Investment Efficiency, Alireza Askarzadeh, Kenneth Yung

Graduate Student Government Association Research Conference

Conflicting results in the literature regarding the effect of internationalization on firm performance motivate this study to examine this effect through an important but less studied channel. Unlike previous literature mainly focusing on the impact of internationalization on firm financial performance, this study examines operational performance and probes how internationalization affects firms’ investment inefficiency, thus demonstrating an important aspect in determining the success of international strategies. By applying the concepts of transaction cost economics and agency theory to a sample of US firms between 1989 and 2022, we find evidence that internationalization has a positive relationship with investment inefficiency and …

Bolstering The Startup Sector In Palestine And Its Potential Impact On Public Finance, Rabeh Morrar, Rand Jibril

An-Najah University Journal for Research - B (Humanities)

Objective: This study aimed to analyze of the ecosystem surrounding startups in Palestine in general, with a particular focus on public finance; specifically, how public authorities can enhance the regulatory framework and adopt incentive policies for startups and entrepreneurship to create a positive long-term impact on both the overall economy and public finance. Methodology: The study's methodology primarily involved conducting in-depth interviews with a sample of all stakeholders related to the Palestinian startup ecosystem. This included government entities, relevant public bodies, startups, entrepreneurs, accelerators, incubators, venture capital funds, universities, innovation centers, and legal entities. Results: The study reached several important …

Leadership Practices For High-Performing Teams: Insights From Senior Military General Officers And Flag Officers, Kimberly Mitchell

Dissertations

Purpose: The purpose of this mixed methods study was to identify and describe how senior military general officers and flag officers (GOFOs) used the three competencies of high-performance teams (HPTs; clarity, connection, and communication) to achieve objectives in their organizations. The second purpose of this study was to determine the degree of importance that senior military GOFOs perceived the three high-performance team effect (HPTE) core competencies impacted their leadership for creating HPTs.

Methodology: This mixed methods study identified and described nine senior military officers’ perceptions of strategies to lead HPTs while focusing on the three core competencies: clarity, connection, and …

Repositioning North Atlantic Treaty Organization (Nato): The New Security Dilemma On Trans–Atlantic Relations Amid Shifting Global Geopolitics, Daniel C. George, Indra Alverdian

Journal of Strategic and Global Studies

The shifting global geopolitics have led to a new security dilemma in Europe, especially in trans–Atlantic relations. NATO as the vanguard of the trans–Atlantic defense pact is faced with transitional conditions of non-conventional threats that return to conventional threats. Due to the shift in the new global order, these threats require a repositioning for NATO to counter the new security dilemma amidst shifting global geopolitics. By referring to the three asserted pillars–the return of conventional warfare on the European continent; a more assertive Russia in the European continent under Vladimir Putin; and the geopolitical of China's rise impacted trans–-Atlantic …

The History And Manifestations Of The Metaverse In Contemporary Literature, Marlon Semuel Contantin Kansil, Wanting Sun

Journal of Strategic and Global Studies

The metaverse, an interactive and immersive virtual world, has emerged as a critical theme in contemporary literature, significantly impacting narratives and character development. This paper explores the history and literary manifestations of the metaverse, investigating its influence on identity, space, and social interactions. We find that the metaverse supports flexible and individualistic identities, reshaping how characters and readers understand themselves. The digital space of the metaverse provides a dynamic setting for moral and emotional conflicts, enriching the literary aesthetics of space. Furthermore, literature plays a crucial role in both shaping and reflecting the concept of the metaverse, employing symbolism and …

Expectations Versus Reality In New Cairo's Gated Communities: An Interdisciplinary Analysis Of Socio-Spatial Features, Ala'a Marwan

Theses and Dissertations

This research aims to introduce a new framework to identify the disparities between gated community residents’ experiences and real estate developers' visions towards the development. As New Cairo experiences significant growth, many residents are increasingly relocating to gated communities. It has become crucial to assess users’ expectations before moving and their lived experience post-moving to allocate the gaps between their expectations and reality, otherwise, the GC developments will grow apart from users’ updated preferences. The research focuses on the socio-spatial qualities such as accessibility to services and facilities, community interaction, and vast green areas between buildings for privacy, all of …

Esg Significance In Relation To Corporate Bankruptcy Prediction, Sama Elkady

Theses and Dissertations

This thesis aims to enhance corporate risk assessment through studying ESG (Environmental, Social, and Governance) significance in modeling bankruptcy. Through using artificial intelligence’ natural language processing (NLP), we develop a proxy for ESG scoring based on companies annual reporting retrieved through EDGAR. We integrate the derived ESG score with traditional financial ratios used to calculate Altman’s Z-score (1968) in predicting bankruptcy. Through S&P’s Compustat, we obtain a sample of 108 healthy & bankrupt firms -spanning 14 years of fiscal observations- and match them through time and industry. We use stepwise GLM regression to estimate bankruptcy probability observing that ESG and …

Leadership Coaching And The “Mad Major”, Ray Forbes

All Faculty and Staff Scholarship

Interested in gaining some valuable lessons for leaders and leadership coaches to add to your repertoire? Want to further express your curiosity and explore the opportunity to learn more about leadership and leadership coaching from a very unusual, non-academic and very iconoclastic source? If so, this article may be for you. This commentary is essentially the abbreviated story of a single-minded, highly dedicated leader’s lifelong quest to bring needed change to a very large narrow-minded bureaucratic organization. It will briefly explore the strategy-infused approach of one of the most controversial and little known figures in modern military history. This individual …

Filsafat Teknologi Borgmann Sebagai Titik Tolak Etika Bisnis Baru, Antonius Puspo Kuntjoro

Multikultura

Kelit kelindan antara teknologi dan bisnis telah menghasilkan kekuatan amat besar yang membentuk tatanan baru dalam kehidupan masyarakat dewasa ini. Kekuatan tersebut terwujud dalam perusahaan-perusahaan raksasa berbasis teknologi yang sering disebut sebagai Big Tech, beberapa di antaranya: Amazon, Google, Meta, dan Microsoft. Big Tech memainkan peran sentral dalam mengubah aturan dan nilai dalam masyarakat. Perusahaan-perusahaan besar ini telah memanfaatkan teknologi untuk mengurangi biaya tenaga kerja dan meningkatkan marjin keuntungan. Hal ini makin memperkuat posisi dominan mereka di pasar global. Lebih daripada itu, Big Tech mendorong transisi ke dunia tanpa pekerjaan (post-work world) dengan mengembangkan teknologi yang mengurangi …

2025-01-30 Surveying Added Work For Instructors - Presentation, Morehead State University. Faculty Senate., Annie Adams

Faculty Senate Records

A presentation delivered on January 30, 2025 by Annie Adams to the Faculty Senate on added workload and responsibilities by the administration to instructors.

2025-01-30 Faculty Senate Meeting Minutes, Morehead State University. Faculty Senate.

Faculty Senate Records

Faculty Senate meeting minutes from January 30, 2025.

2025-01-30 Faculty Action Survey, Morehead State University. Faculty Senate.

Faculty Senate Records

A survey of Faculty Senate members on what future actions to take given on January 30, 2025.

Nebraska Crop Budgets Updated For 2025, Glennis Mcclure

Cornhusker Economics

For the 2025 production season, 83 crop budgets were developed for Nebraska. These budgets show slightly lower per-unit costs compared to 2023 and 2024. The primary factor behind the reduction in input costs is the lower estimated costs of fuel and fertilizer. In most cases, machinery depreciation and opportunity costs remained relatively stable, while land values and rental rates increased slightly. Additionally, seed and interest costs also rose in the 2025 budgets. Budget scenarios for individual producers may vary depending on the timing of their input purchases and fluctuations in prices.

The Nebraska crop budgets are updated annually to serve …

Synergizing Tqm, Jit, And Green Supply Chain Practices: Strategic Insights For Enhanced Environmental Performance, Aamir Rashid, Rizwana Rasheed, Noor Aina Amirah

Publications and Research

Background: This study examined the role of total quality management, just-in-time, and green supply chain management practices to improve environmental performance. Methods: Data from 207 manufacturing industry respondents from a developing economy were tested through a quantitative method using PLS-SEM with the help of SmartPLS to validate the measurement model. Results: The results show that just-in-time significantly impacts total quality management and green supply chain management practices. Similarly, total quality management significantly affects environmental performance. However, just-in-time insignificantly affects the environment. Likewise, total quality management is insignificant and negatively affects green supply chain practices. Conclusion: This research provides practical insight …

Lindenwood University’S Digital Repository Surpasses 1 Million Downloads, Lindenwood University

Archived Lindenwood Press Releases

No abstract provided.

Valuation Driven Innovation, Keming Li

All Faculty Scholarship (Archived)

This paper examines whether and how market valuation influences firm innovation, using an ex ante valuation measure that filters firm size and growth prospects from tangible investment. Specifically, by utilizing the National Bureau of Economic Research (NBER) patent database, I find that firms with high market valuations generate more innovative outputs, as measured by the number of patents and patent citations. Causality is established using mutual fund flows as an exogenous shock, demonstrating a strong effect of market valuation on firm innovation. Consistent with the idea that managers take advantage of irrationally low discount rates by issuing equity and investing …

Challenges And Opportunities In The Dissemination Of Scientific Content: Insights From Media Professionals In Jordan, Ruba Mustafa Mohammad Dr, Mahmoud Ahmad Al-Rajabi Dr, Hala Nabil Amr

Middle East Journal of Communication Studies

This study explored the challenges and opportunities in disseminating scientific content from the perspective of media experts in Jordan. Using a descriptive methodology and a questionnaire, the research aimed to understand the landscape better. The sample included 343 media experts holding master's degrees or higher in various media fields, along with several journalists actively working in the sector. The study revealed several key findings. Chief among them are the numerous obstacles hindering the dissemination of scientific content in Jordanian media. These include a lack of training for journalists on accessing new scientific information, a general absence of critical thinking skills …