Strategic Management Policy Commons^™

Is Silence The Answer?, Gator Adams

CMC Senior Theses

This study examines the relationship between company management guidance, and ex-ante crash risk over the duration of 2008(Jan 2006-Dec 2009) financial crisis using the implied volatility skew, which is based upon ex-ante volatility implied by the pricing model developed by Black-Scholes (1973). The study finds that over the duration of this crisis period, management guidance decreases with a rise in ex-ante crash risk. Further, the study provides evidence on the relationship of management guidance and earnings volatility, and how that is affected by a firm's industry product concentration based on the Herfindahl-Hirschman Index (HHI) score.

Blockchain And Smart Contracts, Simon J.D. Schillebeeckx, Miguel Soriano, Ernie G. S. Teo

Sim Kee Boon Institute for Financial Economics

This discussion paper covers and develops the ideas discussed during the Roundtable Discussion on Blockchain and Smart Contracts, jointly organised by the Singapore CFO institute and the Sim Kee Boon Institute for Financial Economics (SKBI) at Singapore Management University (SMU) on the 29th of June, 2016. The discussion was moderated by: Professor David Lee Kuo Chen (SKBI & SMU) and Mr Loh Uantchern (Chief Executive Singapore Accountancy Commission).

Experience And Fdi Risk-Taking: A Microfoundational Reconceptualization, Peter J. Buckley, Liang Chen, L. Jeremy Clegg, Hinrich Voss

Research Collection Lee Kong Chian School Of Business

Studies of how firms respond to host country risk have assigned explanatory primacy to organizational capability and managerial risk preference. The organization-level account is built on the premise that capability is a prerequisite for risk-taking while the individual-level account focuses on the managers' intrinsic behavioral attitude. Without integrating one with the other, the former is open to many alternative explanations while the latter remains only a source of heterogeneity. We propose that employing the microfoundations approach can address the limitations of each account and yield a fuller understanding of FDI risk-taking. Drawing upon behavioral decision theory and the concept of …

Do Investors Value The Required Stress Tests Of Financial Holding Companies?, Brendan A. Colligan

Finance Undergraduate Honors Theses

This paper explores the value of disclosing stress test results to investors and market participants within the US financial system. Recently the Federal Reserve (“Fed”) expanded its required internal stress testing program, often referred to as the Dodd-Frank Act Stress Test (“DFAST”), to include bank holding companies (“BHCs”) with more than $10 billion in total assets. These BHCs were required to publicly disclose their results for the first time in June of 2015. Large BHCs are subject to another level of stress testing implemented by the Comprehensive Capital Analysis Review (“CCAR”). Large BHCs are defined as having more than $50 …

An Empirical Analysis Of Efficiency And Profitability Ratios In The U.S. Retail Industry, Sergio Ribera Boigues

Morehead State Theses and Dissertations

A Thesis Presented to the Faculty of the College of Business and Technology Morehead State University in Fulfillment of the Requirements for the Course IET 699 - Thesis by Sergio Ribera Boigues on April 28, 2016.

Reducing Customer Waiting Time Of Commercial Banking Industry (A Case Study), Feng Gao

Morehead State Theses and Dissertations

A Thesis Presented to the Faculty of the College of Business and Technology Morehead State University in Partial Fulfillment of the Requirements for the Degree Master of Science by Feng Gao April 26, 2016.

Business Framing For Analytics, Beverly Wright

Atlantic Marketing Association Proceedings

Both the academic and business practitioner communities are faced with the challenges of discovery, innovation, and constant learning of their field, particularly within the marketing discipline, where content, processes, and even structure are dynamic in nature, with constantly evolving interests and focus. A solid research agenda with excellent analytics to address pertinent business questions is crucial for successfully expanding our understanding of the marketing function.

Perceived Risk Reduction In E-Commerce Environments, C. Michael Powell, Chris Conca

Atlantic Marketing Association Proceedings

During the past three decades, the growth of e-commerce has presented marketers with many new arenas for research and application. Certainly e-commerce has become a significant portion of the world economy and in particular the consumer sector. As previous literature has consistently considered perceived risk as a major factor consumer purchase decisions, this research identifies several major components of consumer perceived risk (PR) and their normative implications in the e-commerce environment

National Culture Dimensions And Consumer Digital Piracy: A European Perspective, Irena Vida, Monika Kukar-Kinney, Mateja Kos Kokli, James Reardon

Atlantic Marketing Association Proceedings

Digital piracy as a ubiquitous phenomenon affects a number of stakeholders, such as consumers, enterprises, and governments. Considering its global nature, it has been of particular interest to consumer researchers. Hence, a large body of digital piracy literature sheds light on the demand side and illuminates various predictors of digital piracy behavior (Harris & Daunt, 2011). Despite these efforts, very little attention has been devoted to applying international perspective in investigating digital piracy across different countries (Ki, Chang, & Khang, 2006). This study aims to fill this void by examining the digital piracy behavior in three EU countries. In addition, …

Modification And Investment Intention In The Consumer-Possession Relationship, James D. Doyle

Atlantic Marketing Association Proceedings

The present-day automobile is at once a source of physical transportation, of course, but also an extension of self, a potential platform for self-expression and image enhancement, a source of social approval as well as psychological and physiological stimulation, and, perhaps, an object of beauty. This study examines motivations and antecedents of various vehicle-directed consumer behaviors, including modification and the intention of consumers to invest in their relationship with their vehicle. In this study, vehicle modification refers to the voluntary actions taken by a user or owner of a vehicle to differentiate the functional or aesthetic characteristics or performance of …

Incubator-Induced Business Clusters: A Case Study, Bailey Tarpley

Honors College Theses

Incubator-induced business clusters are a new tool for governments wishing to economically revitalize geographic areas. However, this case study argues that the successful formation of a cluster through the use of a business incubator requires the presence of three important “cluster factors”: 1) resource dependence and integration of the four key players of a cluster 2) human capital aspects and 3) external intervention mechanisms aimed toward the creation of a cluster. The historical founding of Hollywood will be examined for these factors as well as the DUMBO incubator located in NYC. This case study will examine whether the situation in …

The Relationship Between Firm Resources And Joint Ventures: Revisited, Vivien E. Jancenelle

Business Student Publications

Purpose

– This study is a replication of Wolff and Reed’s (2000) work. The purpose of this paper is to examine how the combination of resources brought to joint ventures influence parent-firm performance. This study is also interested in whether or not the exposure of immobile resources through the semi-transparent membrane of the joint venture can have negative effects on parent-firm performance.

Design/methodology/approach

– The sample consists of two-parent joint ventures formed by publicly traded US firms between 1997 and 2013. The event-study methodology is used to calculate each parent-firm’s abnormal returns. This work also uses content analysis to analyze …

Institutional Change Versus Resilience: A Study Of An Incorporation Of Independent Directors In Singapore Banks, Lai Si Tsui-Auch, Toru Yoshikawa

Research Collection Lee Kong Chian School Of Business

We examine how Anglo-American capital market logic penetrated into Singapore where relational logic tends to guide business activities and illustrate how domestic banks reacted to this imported logic in the corporate governance field. We argue that the banks’ ability to accommodate competing logics was enhanced by state agencies’ willingness to modify Anglo-American standards to fit the local context. Given the resulting institutional ambiguities in rules, local banks, while incorporating higher outside representation on their boards, reinterpreted the meaning of independence and emphasized the resource provision role rather than the monitoring function of outside directors. The resultant institutional change has been …

Aerospace Renaissance – Ripe For Research To Impact The Industry, Constantine M. Koursaris, Brig. Gen. Robert E. Mansfield Jr. (Ret.)

Aviation / Aeronautics / Aerospace International Research Conference

The Center for Aviation and Aerospace Leadership (CAAL) was founded in 2008 to capture, create, and share relevant information on leadership in the aviation and aerospace industry.

The AIR is developed and published in collaboration with the Aerospace Industries Association and includes:

• Information on the status of aerospace manufacturing in the United States and state of the economy

• An in-depth review of sales across the various sectors of the industry, employment trends, key international trade statistics, financial information on the industry & major aerospace firms, trends to watch, and a forecast for the future based on a review …

Ryanair Holdings, Nicole Blake Tran, Jamie Perkinson, Caron Sinnenberg, Lionel Tarcia, Jeffrey S. Harrison

Robins Case Network

The crass Irish CEO of Ryanair presides over a modern miracle. Ryanair, with its ridiculously low prices and poor reputation for service, has become one of Europe’s largest and most successful airlines. Employees pay for their own training, flights are cancelled if they won’t be full enough to be profitable, and the concept of “no frills” is heartily embraced. However, some new competitors have come on the scene, and Ryanair may be forced to improve its service and reputation to keep up.

Why Cash Flow Is More Important Than Profit, Aretha Boex

White Papers

While profits are good, they do not adequately represent the financial standing of a firm. It is quite possible for a company to report profits but be unable to grow, secure financing or attract investors.

Outward Foreign Direct Investment By Emerging Market Firms: A Resource Dependence Logic, Jun Xia, Xufei Ma, Jane W. Lu, Daphne W. Yiu

Research Collection Lee Kong Chian School Of Business

This study examines and extends the resource dependence logic of diversification for a better understanding of outward foreign direct investment (OFDI) activities by emerging market firms. We contend that the diversification logic is bounded by state ownership, an important but less considered component of interdependence. Our empirical results, based on panel data analysis of Chinese listed firms, suggest that the level of interdependence between Chinese and foreign firms in China in multiple forms, including symbiotic, competitive, and partner interdependencies, is positively associated with the level of the Chinese firms' OFDI activities. However, Chinese firms with higher levels of state ownership …

Women In The Workforce: An In-Depth Analysis Of Gender Roles And Compensation Inequity In The Modern Workplace, Rebecca L. Ziman

Honors Theses and Capstones

This paper explores the increase in participation and education of American women in the workforce with a special focus on women in business and accounting roles. The paper then goes on to discuss the wage gap between genders, how to remedy inequality in the workplace, and highlights several reasons why pursing a solution to gender inequality is beneficial for both the employee and the company.

Core Resources Of Corporate Strategy And Performance-Oriented Bank Management Practice: A Lesson For Nigeria, Andrew O. Agbada

Bullion

In the past three decades, the Nigerian banking industry has suffered from a host of vices namely miss-management, financial misappropriation, administrative recklessness, etcetera, reflecting incompetence on all levels of management and those have had dire consequences in the economy. In an attempt to re-position the industry on the path of performance, different governments in the past took various corrective steps to no avail. Thus this study seeks to explore the Core Resources of Corporate Strategy and Performance-oriented Bank Management best practice with a view to creating sustainable best practices in bank management in Nigeria. The findings from the study are …

A New Look At The Corporate Social-Financial Performance Relationship: The Moderating Roles Of Temporal And Inter-Domain Consistency In Corporate Social Performance, Heli Wang, Jaepil Choi

Research Collection Lee Kong Chian School Of Business

The authors develop the argument that the establishment of good stakeholder relations is influenced not only by a firm’s having a high level of corporate social performance but also by its ability to deliver consistent social performance. Therefore, both level and consistency in corporate social performance should have significant financial implications. More specifically, the authors suggest that level and two types of consistency in corporate social performance—temporal consistency and interdomain consistency—interact positively to influence a firm’s financial performance. Using a sample of 622 firms and 2,365 firm-year observations based on the Kinder, Lydenberg, Domini, & Co. data, the authors found …

Financial Services Innovation: Opportunities For Transformation Through Facial Recognition And Digital Wallet Patents, Debora S. Bartoo

Antioch University Dissertations & Theses

Bringing innovation to the marketplace for new products and services involves creativity, a culture in which change flourishes, and leadership that thrives on transformation and complexity. This study explored the potential for market disruption or change based on innovations involving patents granted to nonfinancial services organizations that could affect financial services, specifically consumer or retail bank products. It involved analyzing documents related to recently granted patents and completing a mixed methods survey integrating the Delphi research technique. This method required multiple iterations of a survey presented to expert panelists or industry thought leaders to attempt to gain consensus ("Consensus", 2011) …

The Positive Externalities Of Social Capital: Benefitting From Senior Brokers, Charles Galunic, Gokhan Ertug, Martin Gargiulo

Research Collection Lee Kong Chian School Of Business

The importance of an actor’s network to his/her private benefits is well explored. Less well understood are the positive externalities of social capital, that is whether an actor’s social capital “spills-over” and improves the outcomes of those to whom s/he is connected, creating broader, not just private, benefits. This paper examines how investment bankers add value to one another in the course of everyday work. Our concern is with a banker’s second-order social capital. The main question is whether being connected to a broker matters to the ability of the focal actor to add value to those around him/her. We …

Energy Sources And The Production Of Electricity In The United States, David Manukjan

Honors College Theses

The current sources of energy that the United States uses to produce electricity are costly, extremely damaging to the environment, and cause us to rely on other countries for our energy needs. The Obama Administration has begun working on replacing coal and oil with cleaner sources of energy. Over the last decade, alternative energy sources have been slowly gaining popularity as the American public learns more about climate change. However, the U.S. government will not use renewable energy as a complete substitute for fossil fuels in the immediate future because of their higher market price. The world is struggling to …

The Greek Financial Crisis: An Overview Of The Crisis In Entirety And Proposed Measures: Recommended Solutions And Results, Androniki Podaras

Honors College Theses

This paper examines the Greek financial crisis from 2009 in entirety and analyzes the best option for economic growth from this point forth. The history and culture of Greece is discussed, along with a background of the economy and several economic policies that led to the increased debt levels and the poor economic health of the country. The Gross Domestic Product of Greece and the inflation levels are analyzed to show the changes and signs of poor economic health, and one that was affected by the entry into the Eurozone in 2000.

Then, I discuss how this led to the …

F.A.C.E.S. (Faculty Academic Community Education Showcase): Professional Growth Experiences In A Career University, Paul J. Colbert, Ph.D.

MBA Faculty Conference Papers & Journal Articles

Institutes of higher education exist for the purpose of developing, fostering, nurturing, and stimulating the intellectual growth and development of students. The core values of a college education provide students conceptual and practical educational opportunities that focus on improving their skills and knowledge. These skills and knowledge translate into purposeful, real-life learning experiences. However, in the academic community, learning is not restricted to students. Faculty, too, must be supported and provided opportunities for personal and professional growth and development. Although professional development is not a novel concept in the education profession, schools often take up the gauntlet, but fall short …

Analysis Of The Real Estate Investment Trust (Reit) Industry, Frederic Juillet

MBA Student Scholarship

In 2009, most REITs opted for the recapitalization of their balance sheets in order to respond to the recent global credit crisis, thus reducing their leverage and strengthening their financial statements (REIT, 2011b). In 2011, the REIT industry represented $54.3 billion in revenue and a profit of $7.8 billion. The industry annual growth expectation for the next 5 years (from 2011 to 2016) is 5.1% or $69.7 billion (IBISWorld, 2011b). The Hotel & Motel industry counted 14 REITs in the lodging/resort sector in the U.S. (REIT, 2011c) and represented 10.5% of the equity REIT Industry (IBISWorld, 2011b). The REIT structure …

Financial Capital And Startup Survival, Jeongsik Lee, Wei Zhang

Research Collection Lee Kong Chian School Of Business

Are entrepreneurs liquidity-constrained? We attempt to answer this question by investigating the impact of financial capital on startup survival. The analysis of about 5,000 startups from the Kauffman Firm Survey data shows that, controlling for human capital, having some type of financial capital increases survival chances, supporting the existence of liquidity constraints. Interestingly, however, the effects are not uniform across types of capital: securing loans is associated with higher survival likelihood but receiving equity investments shortens startup longevity. Accounting for the endogeneity in financing using the Inverse Probability Treatment Weighted (IPTW) estimation reveals that the negative effect of equity capital …

Identify Key Business Strategies To Target The Mass Market In Macau, Chia-Li Chen

UNLV Theses, Dissertations, Professional Papers, and Capstones

Statement of Purpose:

The purpose of this paper is to examine Macau’s present gaming environment and identify factors that will contribute to the success of a mass gaming market in Macau. The study intends to provide economic justification and tourism policy considerations which support the growth of Macau’s mass gaming market by taking advantage of the booming Chinese economy and the fast growing popularity of gaming in China. In addition, this study will examine literature supporting Macau’s transformation from a simpler gamblers’ destination into a Las Vegas style international gaming, entertainment, and tourism destination, as well as arguments for sustaining …

Sustainability’S Correlation To Profit, Cheryl Annissa Drummond

UNLV Theses, Dissertations, Professional Papers, and Capstones

Sustainability and its correlation to profits in hospitality institutions is the subject of this paper. The lack of knowledge about sustainability and the benefits of sustainable practices are discussed. The evaluation of a GreenSeal (2010) Bronze certification G46-Restaurant audit is also examined. Research includes the review of industry experts’ findings on the subject and the social costs and benefits are evaluated based on the goal of economic, ecological, and social sustainability.

Red Lion Hotel Corporation, Yin-Chia Shao

MBA Student Scholarship

This paper is a strategy executing research project of Red Lion Hotels Corporation. The research content includes the nature of the business, environmental analysis, strategy position within the industry, competitive advantage, strategic history, evaluate strategy and a conclusion. The company grew from a focused differentiation strategy to a broad differentiation diversification. Examining the business environment analysis, the external environment has a moderately strong impact on the company and the internal environment has a moderately weak position. The inferior position is a disadvantage to the Red Lion Hotel Corporation's growth. In addition, compared the company with Choice International Hotels, Inc and …