Researcher
: Bai Y |
List of Research Outputs |
Bai
Y., Chang
E.C. and Wang J., Asset Prices under Short-Sales Constraints, American
Finance Association. |
Bai Y., Chang E.C. and Wang J., Asset Prices under Short-Sales Constraints, Western Finance Association. 2007. |
Bai
Y., Chang
E.C. and Wang J., The Best Paper Award - Asset Prices under Short-Sales
Constraints, The 2006 |
Bai
Y., Chang
E.C. and Wang J., The Best Paper Award, The 12th Mitsui Life Symposium.
|
Bai
Y., Chang
E.C. and Wang J., The TCW Best Paper Award, 2006 |
Chang
E.C., Bai Y. and Wang
J., Asset Prices under Short-Sales Constraints, 2006 |
Researcher
: Bai Y |
List of Research Outputs |
Bai
Y., Chang
E.C. and Wang J., Asset Prices under Short-Sales Constraints, American
Finance Association. |
Bai Y., Chang E.C. and Wang J., Asset Prices under Short-Sales Constraints, Western Finance Association. 2007. |
Bai
Y., Chang
E.C. and Wang J., The Best Paper Award - Asset Prices under Short-Sales
Constraints, The 2006 |
Bai
Y., Chang
E.C. and Wang J., The Best Paper Award, The 12th Mitsui Life Symposium.
|
Bai
Y., Chang
E.C. and Wang J., The TCW Best Paper Award, 2006 |
Chang
E.C., Bai Y. and Wang
J., Asset Prices under Short-Sales Constraints, 2006 |
Researcher
: Bose I |
Project Title: |
Analysis of the dotcom bubble burst: a data mining approach |
Investigator(s): |
Bose I, Chau PYK, Yen BP |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
09/2004 |
Abstract: |
To investigate the underlying msytery of the burst of the dotcom bubble; to collect and process data on the financial statements of several successful and unsuccessful dotcom companies; to use sophisticated data mining techniques to analyze the financial records; to use rule induction and neural networks; to duse data on financial ratios of the companies to predict which companies are likely to survive or fail in the future. Following the rigorous steps of data mining; to identify the key financial factors which lead to the dramatic rise and subsequent decline of the click-and-mortar corporations; to validate the research findings by conducting interviews of financial analysts. |
Project Title: |
Bandwidth Packing in Multi-Service Class Intranetworks with Guaranteed Delays |
Investigator(s): |
Bose I |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
06/2005 |
Abstract: |
Intranetworks of today often suffer from congestion problems due to the tremendous increase in traffic in recent times as well as irrational allocation of bandwidth to support this increased traffic. One of the fundamental problems related to design of intranetworks is determination of which messages to route among a given list of messages and the routes to be used for delivering messages between communicating nodes so that the revenue generated from routing these messages is maximized. This is known as the bandwidth packing problem. The objective of this research is to use an optimization based approach for solving the bandwidth packing problem for message belonging to multiple service classes. This will involve selection of a target group of messages from a list of messages with different delay requirements provided by the users (from a few nanoseconds for real-time full motion video to a few minutes for e-mail), and determination of the best paths for routing these messages. To do so, the messages are prioritized based on the delay requirements specified by the users and only a selected group of messages are routed during a given period of time. Our goal is to find an ‘intelligent’ message selection and routing scheme that provides an efficient and ‘fair’ resource allocation mechanism and maximizes the revenue generated from the usage of the intranetwork. |
Project Title: |
Direct marketing in mobile telecommunications services: A data mining approach |
Investigator(s): |
Bose I |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
04/2007 |
Abstract: |
For product advertising and promotions,
there are two approaches that are used in practice: mass marketing and direct
marketing. Mass marketing employs mass media to broadcast product related
information to customers. The Direct Marketing Association defines direct
marketing as “… communications where data are used systematically to achieve
quantifiable marketing objectives and where direct contact is made, or
invited, between a company and its customers and prospective customers”.
Direct marketing is increasing in importance at present. According to a
recent report, the total direct marketing advertising expenditure in 2005 was
about US $161.3 billion. This resulted in US $1.85 trillion in increased
sales in 2005 accounting for 7% of the US $26 trillion total sales in the |
List of Research Outputs |
Bose
I. and Chen
X., Applying Kohonen Vector Quantization Networks For Profiling Customers
Of Mobile Telecommunication Services, Tenth Pacific Asia Conference On
Information Systems. |
Bose
I. and Chen
X., Applying Kohonen Vector Quantization Networks for Profiling Customers
of Mobile Telecommunication Services, Proceedings of the Tenth Pacific
Asia Conference on Information Systems. |
Bose
I., Associate Editor, International
Journal of Information Systems and Supply Chain Management. |
Bose
I. and Chen
X., Business Strategies For |
Bose I., Deciding The Financial Health Of Dotcoms Using Rough Sets, Information & Management. North-Holland, Elsevier, 2006, 43: 835-846. |
Bose
I., Editor-in-chief, Advances In Business
Data Communications And Networking Book Series. |
Bose
I., Editorial Board, AIMS International
Journal Of Management. |
Bose I., Editorial Board, International Journal of Business Data Communications and Networking. Hershey, USA, Idea Group Publishing, 2006. |
Bose I., Editorial Board, International Journal of Information Security and Privacy. Hershey, USA, Idea Group Publishing, 2007. |
Bose I., Editorial Board, International Journal of Information and Communication Technology Education. Hershey, USA, Idea Group Publishing, 2006. |
Bose
I., Editorial Board, Journal Of Database
Management. |
Bose
I., Editorial Board, Journal of Global
Information Technology and Management. |
Bose
I. and Chen
X., Exploring Business Opportunities From |
Bose
I. and Huang M., Jharna Software: The Move To
Agile, |
Bose I. and Paul A., On Returns Policies With Exogenous Price, European Journal Of Operational Research. North-Holland, Elsevier, 2007, 178: 782-788. |
Bose
I., Phishing – The New Security Threat On The
Internet, In: F. Herrmann and D. Khadraoui, Advances In |
Bose I. and Pal R., Predicting the Survival or Failure of Click-and-Mortar Corporations: A Knowledge Discovery Approach, European Journal Of Operational Research. North-Holland, Elsevier, 2006, 174: 959-982. |
Bose
I., RFID And Its Use In CRM: Opportunities
And Challenges, In: S. Ao, O. Castillo, C. Douglas, D. Feng, J-A. Lee, Second
International Multiconference Of Engineers And Computer Scientists. |
Bose I., RFID And Its Use In CRM: Opportunities And Challenges, Second International Multiconference Of Engineers And Computer Scientists. IAENG, 2007. |
Bose I., Session Chair, Second International Multiconference Of Engineers And Computer Scientists. IAENG, 2007. |
Bose
I. and Leung
A.C.M., Unveiling The Mask Of Phishing: Threats, Preventive Measures, And
Responsibilities, Communications Of AIS. |
Chen
X. and Bose I., An
Extension Of Generative Topographic Mapping For Fuzzy Clustering, In: S. Ao,
O. Castillo, C. Douglas, D. Feng, J-A. Lee, Second International
Multiconference Of Engineers And Computer Scientists. |
Leung
A.C.M. and Bose I., A
Framework For Assessment Of Anti-phishing Preparedness, In: S. Ao, O.
Castillo, C. Douglas, D. Feng, J-A. Lee, Second International
Multiconference Of Engineers And Computer Scientists. |
Pal R., Bose I. and Ye C., E-supply Chain System At Valvex
And Its Integration With ERP System, In: Q. Zhang, E-supply Chain
Technologies And Management. |
Researcher
: Carverhill AP |
Project Title: |
Non-parametric modelling of the term structure of interest rates, using Eurodollar futures |
Investigator(s): |
Carverhill AP |
Department: |
|
Source(s) of Funding: |
Seed Funding for New Staff |
Start Date: |
08/2002 |
Abstract: |
To model the Term Structure of Interest Rates, that is the ways in which interest rates of various maturities move, and the equilibrium relationships between then, taking as data the Eurodollar futures prices, and using a non-parametric modelling approach. |
Researcher
: Chan CMK |
Project Title: |
Legitimation and competition processes of international market entry |
Investigator(s): |
Chan CMK |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
09/2003 |
Completion Date: |
08/2006 |
Abstract: |
To develop a theoretical base for the institutional and ecological model of international market entry. |
Project Title: |
Determinants of international joint venture termination |
Investigator(s): |
Chan CMK |
Department: |
Business & Economics Faculty |
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
03/2006 |
Abstract: |
Project Objectives One major objective of this project is to examine the direct reasons for international joint venture (IJV) termination. Previous studies identify a variety of factors that contribute to IJV termination in various environmental and organizational contexts (see Dhanaraj and Beamish, 2004 for review). Most of the studies examine how these factors affect the rate of terminated ventures over surviving ventures (i.e., a hazard rate) by employing an event history analysis or cross-sectional analyses (Gulati, 1998). However, they have rarely specified the direct causes of termination. The failure to examine the direct causes creates at least two critical problems: (a) the attempt to induce the direct causes of termination simply by the examination of contextual factors is inevitably subject to endogeneity problems (Shaver, 1998); and (b) the use of termination rate obscures the details of termination and does not provide any insights as to why IJVs are terminated, or what the critical reasons are that underlie termination. The second major objective is to build an integrated framework that incorporates two distinct perspectives of IJV termination. The first perspective suggests that IJV termination is inherently intended, and occurs when the initial purposes of the formation of the IJV are achieved. The second perspective suggests that IJV termination is inherently unintended, and occurs due to the emergence of ex-post conditions that hinder the operation of IJVs. Few studies have paid attention to the difference between the intended and unintended causes of IJV termination. This oversight has left a significant gap in the literature on both the theoretical and practical implications of IJV termination. Theoretically, research has failed to explain how IJV termination is linked to the formation and post-formation process of IJVs. Practically, research has provided limited insights regarding what kinds of IJVs, and under what conditions, are likely to successfully complete the initial purposes (intended termination) of their formation, or fail before achieving these purposes (unintended termination). The third objective is to explore host country specific effects on IJV termination. In this study we focus specifically on the impact of foreign direct investment (FDI) restrictions on the likelihood of intended and unintended IJV termination. In many transitional economies and less developed countries, host country governments will impose FDI restrictions on foreign firms, including the access to local resources or markets, limits of foreign ownership, and local content provisions. Because of the FDI restrictions, foreign firms have to form partnerships with local firms to fulfill their purposes of FDI. In recent years, some host country governments lower or even remove the FDI restrictions on foreign firms. However, research has paid little attention to explaining whether and how much the change in policy towards inward FDI increases or decreases the likelihood of both types of IJV termination. References: Dhanaraj C, Beamish PW. 2004. Effect of equity ownership on the survival of international joint ventures. Strategic Management Journal, 25(3): 295-305. Gulati R. 1998. Alliances and networks. Strategic Management Journal, 19(4): 293-317. Shaver JM. 1998. Accounting for endogeneity when assessing strategy performance: Does entry mode choice affect FDI survival? Management Science, 44(4): 571-585. |
Project Title: |
Determinants of international joint venture termination |
Investigator(s): |
Chan CMK |
Department: |
Business & Economics Faculty |
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
09/2006 |
Abstract: |
1. To examine the direct reasons for intenational joint venture termination. 2. To build an integrated framework that incoporates two distinct persectives of international joint venture termination. 3. To explore host country sepcific effects on international joint venture termination. |
Project Title: |
Institutional Development and Foreign Affiliate Performance |
Investigator(s): |
Chan CMK |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
03/2007 |
Abstract: |
One major objective of this project is to develop the institutional perspective of the performance of foreign affiliates of multinational corporations (MNCs). Previous studies drawing from the industrial organization economics perspective and the resource-based view of the firm suggest that the industry structure and a firm’s resources and capabilities are the primary determinants of foreign affiliate performance (e.g., Chang, 1995). However, these studies have ignored the influences of institutional environments. As foreign affiliates cannot be immune from the host country institutional contexts in which they are embedded (Kostova and Zaheer, 1999; Peng, 2002; Westney, 1993), this oversight has left a significant gap in the literature on the theoretical implications of foreign affiliate performance. The second major objective is to examine how host country institutions influence MNCs’ risk and return of investment in the host country. Recent studies suggest that host country institutions do matter in influencing foreign affiliate performance (Christmann et al., 1999; Makino et al., 2004), but they merely provided empirical evidence on the extent to which the country effects explained the variation in foreign affiliate performance by employing the variance component analysis. As each host country constitutes a distinct institutional environment (Kostova and Zaheer, 1999) and has its own economic, political, and social institutions that affect the profitability of engaging in business activities (Khanna and Rivkin, 2001; North, 1990), little is known about in which country the variation in foreign affiliate performance is lesser (or greater) and the level of foreign affiliate performance is higher (or lower). The third objective is to examine the influences of the level of institutional development on foreign affiliate performance. As the extent to which institutions are well developed varies across countries, their influences may also differ from country to country. Research has provided limited insights regarding how the level of institutional development of a host country influences the level of and the variation in foreign affiliate performance in the host country and the extent of this influence. |
List of Research Outputs |
Chan C.M.K., Makino S. and Isobe T., Interdependent behavior in foreign direct investment: The multi-level effects of prior entry and prior exit on foreign market entry, Journal of International Business Studies. 2006, 37: 642-665. |
Chan
C.M.K., Winner of the Best Paper Award:
Intended and unintended termination of international joint ventures , Asia
|
Makino S., Chan C.M.K., Isobe T. and Beamish P.,
Intended and unintended termination of international joint ventures, Asia |
Makino S., Chan C.M.K., Isobe T. and Beamish P.W., Intended and unintended termination of international joint ventures, Strategic Management Journal . 2007, 28(11): 1113-1132. |
Makino S., Chan C.M.K., Isobe T. and Beamish P., Winner of the IM Track's Best Paper Award: Intended and unintended termination of international joint ventures , Asia Academy of Management Biennial Meeting, Tokyo, Japan. 2006. |
Researcher
: Chan CWH |
List of Research Outputs |
Chan
C.W.H., Member of discussion panel at the
Asia Business Forum organized by |
Researcher
: Chan DKW |
Project Title: |
Public disclosure, stock price efficiency and investment efficiency |
Investigator(s): |
Chan DKW |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
08/2003 |
Abstract: |
To study a model that integrates the corporate public disclosures and investment decisions with a stock market in which information acquisition is costly and prices are partially revealing. The analysis focuses on the link between corporate investment decisions and stock-price formation; to disclose decisions are studied in a setting in which an IPO firm chooses the level of public disclosure to trade off the effects of public disclosure on the cost of capital and investment efficiency. An equilibrium is derived in which the level of public disclosure, the amount of private information production, the amount of investment and the cost of capital are all linked to specific characteristics of the firm, of the information traders, and of the market. Comparative static results will be studied. Empirical and policy implications will be discussed; to examine the link among public disclosures, private information production, the cost of capital, and investment efficiency. |
Project Title: |
Pre-audit information, outsourcing and perceived auditor independence |
Investigator(s): |
Chan DKW |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
01/2006 |
Abstract: |
To identify a possible benefit of ICS outsourcing (e.g. the outsourcing of the design and implementation of internal control system), namely the flow of information from the client to its external auditor about the ICS quality that helps to better coordinate the audit effort and the ICS quality. Pae and Yoo (2001) point out that when there is asymmetric information regarding the ICS quality when audit fees are set between the client and the auditor, an efficiency loss due to a a suboptimal allocation of audit effort and ICS quality is inevitable. Outsourcing the ICS to an external auditor, who will also conduct the audit, will thus solve this asymmetric information problem and reduce the efficiency loss due to coordination failure. More importantly, I want to show that this informational benefit remains significant even when the auditor is a less cost-effective ICS provider, and is perceived to be less independent when it also provides ICS services to the same audit client; to determine the conditions under which the client will choose to outsource its ICS. |
List of Research Outputs |
Chan D.K.W., Pre-Audit Information and Internal Audit Outsourcing, 2006. |
Chan
D.K.W., Pre-Audit Information and Internal
Audit Outsourcing, The Fifth Accounting Research Workshop in |
Researcher
: Chan W |
List of Research Outputs |
Yim B.C.K., Chan W. and Hung K.H.K., "Multiple Reference Effects on Service Satisfaction and Commitment: Roles of Alternative Attractiveness and Self-Image Congruity", Journal of Retailing. 2007, 83(1): 147-157. |
Yim
B.C.K., Chan W., Lam S.S.K. and Tse D.K.C., Good for the Goose or |
Researcher
: Chang EC |
Project Title: |
Equilibrium and welfare under short-sales constraints |
Investigator(s): |
Chang EC |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
10/2005 |
Abstract: |
The overall goal of this project is to examine the role of short-sales constraints in securities markets. Our basic idea is that constraining short sales has two separatc effects on asset pricing, influencing both the allocational efficiency and the informational efficiency of the financial market. First, limiting some investors' holdings to be nonnegative is equivalent to forcibly increasing total demand for stocks. Doing this drives equilibrium prices upward and result in a non-Pareto optimal asset allocation. Second and more important, short-sales constraints also decrease the informativeness of the market price. In equilibrium, this increased "information risk" has the effect of decreasing current security prices, which load to higher future returns to compensate the additional risk. To accomplish this objective, we will develop an equilibrium model to analyze the effect of short-sales constraints on market price, price dynamics, investors' behavior and welfare, etc. |
Project Title: |
The price impacts of imposing short-sales constraints |
Investigator(s): |
Chang EC |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
01/2007 |
Abstract: |
To investigate the impact of re-imposing short-sale restriction on common stock prices by examining more than 400 sample events in the Hong Kong stock market from 1998 to 2005 ; to investigate whether or not the documented price impact is related to the extent of dispersion of investor opinions ; to examine the impact of re-imposing short-sale restriction on stock price volatility and skewness ; to investigate whether or not short-sales constraints affect the correlation structure between skewness and contemporaneous and lagged stock returns, firm size and other proxies for dispersion of investor opinions. |
List of Research Outputs |
Bai Y.,
Chang E.C. and Wang J., Asset
Prices under Short-Sales Constraints, American Finance Association. |
Bai Y., Chang E.C. and Wang J., Asset Prices under Short-Sales Constraints, Western Finance Association. 2007. |
Bai
Y., Chang E.C. and Wang J.,
The Best Paper Award - Asset Prices under Short-Sales Constraints, The
2006 |
Bai Y.,
Chang E.C. and Wang J., The
Best Paper Award, The 12th Mitsui Life Symposium. |
Bai Y.,
Chang E.C. and Wang J., The TCW
Best Paper Award, 2006 |
Cao, C. and Chang E.C., Wang Y., A Study of
Mutual Fund Flow and Market Return Volatility , In: |
Chang
E.C., Bai
Y. and Wang J., Asset Prices under Short-Sales Constraints, 2006 |
Chang E.C., 國際競爭舆交易所間之整合, Capital Market Development Forum, Taiwan Stock Exchange Corporation. 2007. |
Chang
E.C. and Wong S.M.L., Governance with
Multiple Firm Objectives: Evidence from Top Executive from Top Executive
Turnover in |
Chang
E.C., Member, Review Panel, 2006 Far
Eastern Meeting of The Econometric Society. |
Chang
E.C., Paper Reviewer, 2006 Asian FA/FMA
Conference. |
Chang
E.C., Paper Reviewer, 2006 Asian FA/FMA
Conference. |
Chang
E.C., Sessiion Chair, Program Committee, 2006
|
Researcher
: Chau MCL |
Project Title: |
Searching the world wide web backwards for business intelligence analysis |
Investigator(s): |
Chau MCL |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
01/2005 |
Completion Date: |
12/2006 |
Abstract: |
Evaluation studies will be conducted to evaluate the system's performance in business intelligence analysis. The proposed study has two contributions: (1) The study evaluates the feasibility and performance of automating the process of Web-based business intelligence analysis and identification of a company's online community; (2) The study evaluates the use of inlink analysis, noun phrasing and self-organizing map techniques in business intelligence analysis on the Web. |
Project Title: |
Searching and Analyzing Blogs for Competitive Advantages |
Investigator(s): |
Chau MCL |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
01/2006 |
Abstract: |
Blogs, or Weblogs, have become increasingly popular in recent years. Blog is a Web-based publication that allows users to add content periodically, normally in reverse chronological order, in a relatively easy way. Blogs combine personal Web pages with tools to make linking to other pages easier, as well as to post comments and afterthoughts (Blood, 2004). Instead of having a few people being in control of the topics of discussion (like in traditional Internet forums), blogs basically allow anyone to express their ideas and thoughts freely. Many free blog hosting sites are available. Sites like www.blogger.com, www.xanga.com, and www.livejournal.com, are a few examples.Many bloggers use blogs as a personal diary to keep a documentary of their daily lives. In addition, bloggers usually freely express their interests, views, and comments in blogs. One example of these comments is information about new products on the market or customers' image of a company. This is particularly popular for electronic or IT products. For example, every time when a new model of iPod (the portable digital audio player produced by Apple Computer) was out on the market, many bloggers expressed opinions towards the new product in their blogspaces. Another example is the case of Dell Computer. Recently, many bloggers have started to talk about their unpleasant experiences with Dell's customer service on their blogs. These bloggers further share their experiences through commenting on each other's blogs, which often amplifies their dissatisfaction towards the company. As blogging is becoming increasingly popular, it has become a major channel for consumers to express their views and it is important for companies to monitor and analyze customers' opinions and impressions towards their products and images. However, manually examining the large amount of blogs on the Web is a very time-consuming and mentually-exhausting process. Previous research has shown that much useful business intelligence information on the Web could be located and extracted automatically by software using various artificial intelligence techniques, such as text mining, document clustering, and document visualization (Chen et al., 2002; Chau et al., 2005). However, most of these techniques have not been applied to blog analysis. The proposed project investigates the use of noun phrasing, document classification, document clustering techniques in analyzing blogs. In the proposed approach, a Web spider (Web search agent) will first search the blogosphere for any blogs relevant to a company of interest. Noun phrasing techniques will first be applied to extract significant users' comments or opinions from these blogs. Document classification techniques will then be used to classify these comments into positive or negative comments (Romano et al., 2000). Document clustering and visualization techniques based on the self-organizing map algorithms, which have been shown to be effective in our previous research (Chen et al., 2002; Chau et al., 2005), will be applied on these documents to perform content analysis. The analysis results will be presented to the users in a graphical display. We suggest that such information can provide significant insight about a company's image and products. Experiments and user studies will be conducted to evaluate the performance of the proposed system. |
Project Title: |
Analysis and Visualization of Web Search Queries |
Investigator(s): |
Chau MCL |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
01/2007 |
Abstract: |
There has been a significant amount of research in the area of Web search query logs analysis. For example, the AltaVista study and the Excite study have been widely cited. It is important to analyze Web search logs to investigate how people are searching for infomraiton on the Web and the findings can be applied to improving search engine design and assisting useres in information retrieval. Most of the earlier Web log studies have focused on basic statistical and characteristic analysis of the search queries, such as the search topics, the average query length, the number of queries per sessions, and so on. In recent years, there are more studies on the mining of search queries, such as query classification (Pu et al., 2002; Shen et al., 2005). However, there are two major areas that can be improved. First, only a few data mining techniques have been applied. There are many other data mining and text mining techniques that have not been tested on search query logs. Second, these projects were mostly focused on data characteristics or technical issues, but did not focus on how the results should be presented to users in real search tasks. The proposed project is to address these issues by applying some new techniques on Web query logs and studying how this can assist users in their search tasks. We propose to develop three modules based on search query logs available, such as the Excite query logs, the AOL query logs, and the Timway query logs (Chau et al., 2006). The three modules are (a) QuerySpace, (b) QueryTree, and (c) Query Map. The QuerySpace is a similarity network for simple query suggestion based on spreading activation. The QueryTree is a visualization tool for exploring the query network using a tree metaphor. The QueryMap is a two-dimensional display for query clusters based on neural network. These three methods are chosen because of their wide successes in previous text and Web retrieval research and their ability to help users in real tasks by query analysis and visualization. Experiments and user studies will be conducted to evaluate the performance of the proposed system. |
List of Research Outputs |
Chau M.C.L. and Xu J., A Framework for Locating and Analyzing Hate Groups in Blogs, Proceedings of the Pacific Asia Conference on Information Systems (PACIS 2006). 2006. |
Chau M.C.L., Huang Z., Qin J., Zhou Y. and Chen H., Building a Scientific Knowledge Web Portal: The NanoPort Experience, Decision Support Systems. 2006, 42: 1216-1238. |
Chau M.C.L. and Chen H., Incorporating Web Analysis into Neural Networks: An Example in Hopfield Net Searching, IEEE Transactions on Systems, Man, and Cybernetics (Part C). 2007, 37(3): 352-358. |
Chau M.C.L. and Xu J., Mining Communities and Their Relationships in Blogs: A Study of Online Hate Groups, International Journal of Human-Computer Studies. 2007, 65: 57-70. |
Chau M.C.L., PACIS Best Paper Award, 2006. |
Chau
M.C.L., Shiu
K.W., Chan |
Chau
M.C.L. and |
Chau M.C.L., Fang X. and Sheng O.R.L., What Are People Searching on Government Web Sites?, Communications of the ACM. 2007, 50(4): 87-92. |
Fang X., Chau M.C.L., Hu P.J., Yang Z. and Sheng O.R.L., Web Mining-Based Objective Metrics for Measuring Website Navigability, Proceedings of the International Conference on Information Systems (ICIS 2006). 2006. |
Lu Y., Chau M.C.L., Fang X. and Yang C.C., Analysis of the Bilingual Queries in a Chinese Web Search Engine, Proceedings of the Fifth Workshop on E-Business (WEB 2006). 2006. |
Lu Y. and Chau M.C.L., Mining the Query Logs of a Chinese Web Search Engine for Character Usage Analysis , Proceedings of the Pacific Asia Conference on Information Systems (PACIS 2006). 2006, 346-354. |
Lu Y. and Chau M.C.L., The Effects of Sponsored Links on Consumers' Information Processing Behavior in Comparison Shopping Engines, Proceedings of the Fifth Workshop on E-Business (WEB 2006). 2006. |
Ngai W.K., Kao C.M., Cheng R., Chau M.C.L., Yip Y.L. and Chui C.K., Efficient Clustering of Uncertain Data, The 2006 IEEE International Conference on Data Mining (IEEE ICDM 06). 2006, 436-445. |
Shroeder J., Xu J., Chen H. and Chau M.C.L., Automated Criminal Link Analysis Based on Domain Knowledge, Journal of the American Society for Information Science and Technology. 2007, 58(6): 842-855. |
Xu J. and Chau M.C.L., Mining Communities of Bloggers: A Case Study on Cyber-hate, Proceedings of the International Conference on Information Systems (ICIS 2006). 2006. |
Xu J. and Chau M.C.L., The Social Identity of IS: Analyzing the Collaboration Network of the ICIS Conferences (1980-2005), Proceedings of the International Conference on Information Systems (ICIS 2006). 2006. |
Yang C.C., Zeng D., Chau M.C.L., Chang K., Yang Q., Cheng X., Wang J., Wang F. and Chen H., Proceedings of the Pacific Asia Workshop on Intelligence and Security Informatics. Springer, 2007. |
Researcher
: Chau PYK |
Project Title: |
Investigating acceptance of digital certificate technology by business organizations: a comparative study |
Investigator(s): |
Chau PYK |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
09/2003 |
Abstract: |
To develop and test a variant (factor)
model to investigate and explain acceptance of digital certificate technology
(DCT) and other possible factors affecting website/e-commerce acceptance by
individual users; to conduct a comparative study of the above model with data
collected in both Hong Kong and the |
List of Research Outputs |
|
Chan I.N.M. and Chau P.Y.K., Knowledge management gap: Determined initiatives, unsuccessful results, Knowledge Management in Modern Organizations. Idea Group Publishing, 2007, 354-370. |
Chau
P.Y.K., Hu P...J...H., Lee B...L...P. and Ng
R...M...H., "Customers' trust in online vendors and their dropout
decisions: A cross-country study,", The 10th Pacific |
Chau
P.Y.K., "How to publish in top MIS
journals: Data Base 2.0: An "old but new" journal" and
"Does interpersonal trust also matter? Exploring the role of Trust in
successful IT outsourcing", Second MIS International Symposium 2007.
|
Chau
P.Y.K., "How to publish in top MIS
journals: Data Base 2.0: An 'old but new' journal", The Second MIS
International Symposium 2007, |
Chau
P.Y.K., "Mobile commerce research and
applications: Opportunities and challenges", 電子商務科學前沿與關鍵問題研討會, 國家自然科學基金委員會 (National Natural Science
Foundation of |
Chau P.Y.K., "Publishing in E-Commerce journals" and "Examining the relationship between customer dropout and trust inonline vendors" A cross-country study" , Dalian, China, School of Management, Dalian University of Technology, 2007. |
Chau P.Y.K., "Publishing in E-Commerce journals", School of Management, Dalian University of Technology, Dalian, China, March 2007. 2007. |
Chau P.Y.K., Co-Editor, Electronic Commerce Research and Applications. 2007-present, 2007. |
Chau P.Y.K., In: Global Co-editor, Data Base. 2007. |
Chau P.Y.K. and Ho C.K.Y., Developing consumer-based service brand equity via the Internet: The role of personalization and trialability, Journal of Organizational Computing and Electronic Commerce. 2007, accepted. |
Chau P.Y.K., In: Co-Editor, Electronic Commerce Research and Applications. 2007. |
Chau P.Y.K., Hu P.J.H., Lee B.L.P. and Au A.K.K., Examining customers’ trust in online vendors and dropouts: An empirical study, Electronic Commerce Research and Applications. 2007, 6(2): 172-183. |
Chau
P.Y.K., Fellow, |
Chau P.Y.K., Global Co-Editor, Data Base. 2007-present, 2007. |
Chau
P.Y.K., Kuan K.K.Y. and Liang T.P., Research
on IT value: What we have done in Asia and |
Cheung P.K., Chau P.Y.K. and Au A.K.K., Does knowledge reuse make a creative person more creative?, Decision Support Systems. 2007, accepted. |
Qi
C. and Chau P.Y.K., Does
Interpersonal Trust Also Matter? Exploring the Role of Trust in Successful IT
Outsourcing, The Fortieth Annual |
Researcher
: Chen X |
List of Research Outputs |
Bose
I. and Chen X., Applying
Kohonen Vector Quantization Networks For Profiling Customers Of Mobile
Telecommunication Services, Tenth Pacific Asia Conference On Information
Systems. |
Bose
I. and Chen X., Applying
Kohonen Vector Quantization Networks for Profiling Customers of Mobile
Telecommunication Services, Proceedings of the Tenth Pacific Asia
Conference on Information Systems. |
Bose
I. and Chen X., Business
Strategies For |
Bose
I. and Chen X., Exploring
Business Opportunities From |
Chen
X. and Bose
I., An Extension Of Generative Topographic Mapping For Fuzzy Clustering,
In: S. Ao, O. Castillo, C. Douglas, D. Feng, J-A. Lee, Second
International Multiconference Of Engineers And Computer Scientists. |
Researcher
: Enright MJ |
Project Title: |
|
Investigator(s): |
Enright MJ, |
Department: |
|
Source(s) of Funding: |
Low Budget High Impact Programme |
Start Date: |
11/2000 |
Abstract: |
To further develop and test a research methodology that can generate quantitative measures o the determinants of competitiveness at the industry level; to use this methodology to determine Hong Kong's position relative to its main competitors for a series of industries, identifying the SAR's strengths and weaknesses on an industry by industry basis; to use the above information to inform public policy and firm strategy within Hong Kong. |
List of Research Outputs |
Enright
M.J. and Venkata
Subban S., Biocon: From Generics Manufacturing to Biopharmaceutical
Innovation, ACRC, HKU, 2007, CSVS/ |
Enright
M.J., |
Enright
M.J., |
Enright
M.J., Enhancing |
Enright M.J. and Venkata Subban S., From Activities to Strategy: Empirical Linkages between Subsidiary Activities and MNC Strategy, Academy of International Business Global Conference. 2007. |
Enright M.J., Globalization for good or evil?, Australian Institute of Company Directors. Shanghai, 2007. |
Enright M.J. and Scott E.E., Hong Kong's Competitiveness: A Multidimensional Approach, Industry-Level Competitiveness, Hong Kong, Bauhinia Foundation Research Centre, 2007, 103 pages. |
Enright M.J. and Scott E.E., Hong Kong's Competitiveness: A Multidimensional Approach, International Views of Hong Kong's Competitiveness, Hong Kong, Bauhinia Foundation Research Centre, 2006, 117 pages. |
Enright
M.J., |
Enright
M.J., New Developments in the Greater PRD, Intercham.
|
Enright
M.J. and Venkata
Subban S., Subsidiary types, activities, and location: An empirical
investigation, Academy of International Business / Journal of
International Business Studies Conference on the Frontiers of International
Business Research. |
Enright
M.J., The Greater PRD, |
Enright
M.J., The Greater PRD, Australian Chamber
of Commerce. |
Enright
M.J., The Greater |
Enright
M.J. and Scott E.E., The Greater |
Newton
J., Tam K., Strange R. and Enright
M.J., Location-specific Advantages and Regional Competitiveness: a
study of Financial Sevices MNCs in |
Researcher
: Farhoomand AF |
List of Research Outputs |
Farhoomand
A.F., "Laying an e-Governement
Foundation", 7th Congress on the Management of e-Business. |
Farhoomand A.F., Communication of the AIS. 2007. |
Yen
B.P. and Farhoomand A.F.,
Polo Ralph Lauren & Luen Thai: Using Collaborative Supply Chain
Integration in the Apparel Value Chain,, Center of Asia Business Cases,
The University of |
Researcher
: Gao Y |
List of Research Outputs |
Gao
Y., Pan Y.,
Tse D.K.C. and Yim B.C.K., Market Share Performance of
Foreign and Domestic Brands in |
Researcher
: Guan Y |
List of Research Outputs |
Amir E., Guan Y. and Livne G., The Relative Association Of R&d And Capital Expenditures With Subsequent Earnings Variability, Journal Of Business, Finance and Accounting. 2007, 34: 222-246. |
Researcher
: Han J |
Project Title: |
A Market-Based Test of the MID Forecasts -- Hybrid of Point and Range Forecasts |
Investigator(s): |
Han J, Tan HT |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
11/2005 |
Abstract: |
This proposed study has two objectives.
The first objective is to investigate the properties of a new management
earnings forecast disclousre form that is a hybrid of a point forecast and a
range forecast. The second objective is to examine the characteristics of
firms that use this earnings forecast disclosure form. An example of this
type of hybrid forecast (hereafter, MID forecast) comes from Echelon
Corporation, a company listed on NASDAQ, in its inter-quarter conference call
stating: "I expect GAAP earnings per share for Q3 2003 to be 8 cents per
share, plus or minus 1 cent per share" (FD [FAIR DISCLOSURE] WIRE, 26
August 2003). This MID forecast contains both the properties of a point
forecast (i.e., provision of best estimate) and a range forecast (i.e., lower
and upper limits). Though Han and Tan (2005) have investigated the effects of
the MID forecast, their findings are based on a laboratory experiment and
cannot be generalized. Furthermore, no study has documented the
characteristics of firms issuing such MID forecasts. It would be worthwile to
examine whether these characteristics vary systematically from those of firms
issuing more traditional forecast disclosure forms. The first objective of
this research is to assess whether stock price reaction differs among
forecast forms, both at the moment of management earnings forecast and at the
moment of actual earnings announcement. Since the MID forecast is viewed as
hybrid of point and range forecasts, the three forecast forms (point, MID,
and range) are to be investigated in the present study. Han and Tan (2005)
limit their tests to the settings where the management forecast news are
negative and where the actual earnings fall within the (implied) limits of
the range (MID) forecast. We extend their findings by examining situations
when the management forecast news are either positive or negative, and when
the actual earnings fall within or outside of the (implied) limits. Based on
prior experimental research by Han and Tan (2005), we expect the stock price
reactions to forecast forms depend on whether the management forecast
news/total earnings news are positive or negative -- at the moment of
management forecast/actual earnings announcement, stock price reaction is
most negative for the point forecast, followed by the MID forecast, then by
the range forecast if the management forecast news/total earnings news are
negative (Gregory et al. 1993; Boles and Messick 1995; Sullivan and Kida
1995; Blount et al. 1996).The second objective of this research is to investigate
the characteristics of firms that issue such MID forecasts. Given that a MID
forecast contains the same basic information as the range forecast (lower
limit, midpoint, upper limit), it is interesting to investigate why firms
prefer one forecast form to the other. One possibile reason lies in prior
research that suggests that manager's interpretation of the results affects
investors' reaction, holding constant the earnings news (Schrand and Wather
2000; Bowen et al. 2003; Krische 2005). The MID forecast gives the manager
more flexibility to interpret the actual EPS result. The midpoint and the
higher and lower endpoints are all available in a MID forecast; in contrast,
only the two endpoints (but not the midpoint) are available in a range forecast.
Suppose actual EPS happens to fall within the forecast range but in the upper
end (i.e., it is higher than the midpoint), then a manager issuing a MID
forecast can strategically make the actual EPS appear better by emphasizing
the midpoint (e.g., by announcing that "the result turns out to be
better than our expectation"). In contrast, if the management forecast
is in the range form, the manager can only comment that "the result is
in line with our prior expectation" (not "better than
expectations"). On the other hand, managers using the MID forecast form
can still enjoy the bufferring ability provided by the two endpoints which
are implied in the MID forecast. In other words, managers issuing MID
forecasts potentially enjoy the benefits of issuing a range forecast and a
more precise point forecast, depending on the actual earnings. This suggests
that MID forecasts are more likely to be used by those firms with more
volatile earnings.We intend to hand-collect the sample of MID forecasts from
Dow Jones & Reuturs (Factiva.com). The matching sample of point and range
forecasts are to be obtained from the FirstCall database. Cross-sectional
regressions are to be performed and variables are formed following prior
research. ReferencesBlount, S., M. Thomas-Hunt, and M. Neale. 1996. The price
is right - or is it? A reference point model of two-party price negotiations.
Organizational Behavior and Human Decision Processes 68 (October):
1-12.Boles, T., and D. Messick. 1995. A reverse outcome bias: the influence
of multiple reference points on the evaluation of outcomes and decisions.
Organizational Behavior and Human Decision Processes 61 (March): 262-275.
Bowen, R., A. Davis, and D. Matsumoto. 2003. Do firms strategically emphasize
performance metrics in their earnings press releases? Working Paper, |
List of Research Outputs |
Han J., Jamal K. and Tan H.-.T., Are Auditors Overconfident in Other Auditors' Knowledge?, 30th Annual Congress of European Accounting Association. 2007. |
Han
J. and Tan H.-.T., Investors' Reactions to
Management Guidance Forms: The Influence of Multiple Benchmarks, In: Dan S.
Dhaliwal, The Accounting Review. |
Han J. and Tan H.-.T., Investors' Reactions to Management Guidance Forms, American Accounting Association Annual Meeting 2006. |
Researcher
: Hou Y |
List of Research Outputs |
Researcher
: Hung KHK |
Project Title: |
Conspicuous consumption, cultural values, economic development: a cross-cultural investigation |
Investigator(s): |
Hung KHK |
Department: |
|
Source(s) of Funding: |
Small Project Funding |
Start Date: |
11/2003 |
Abstract: |
To examine two antecedents and a modifier that could help explain differences in conspicuous consumption. |
Project Title: |
Materialistic value and status brand consumption among generation cohorts in China |
Investigator(s): |
Hung KHK, Tse DKC |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
09/2005 |
Abstract: |
By examining a transitional economy, we extend the literature on materialism by examining the effects of institutional changes such as changes in ideology and social institutions on the consumer's materialistic orientations; Using China as our focus, we examine the effects of institutional changes as encapsulated in catacysmic events that took place in China over the past half century; we extend the materialism construct to include dimensions relevant to buying and possessing status products in a hiearchical taste culture. |
List of Research Outputs |
Gu F.F., Hung K.H.K. and Tse D.K.C., "Guanxi’s Effects on
Market Performance in |
Hung
K.H.K. and Tse
D.K.C., "Reflexive Learning in a Multi-Brand Web Community:
Salience, Contrasts and Effects", Department of Advertising, |
Hung
K.H.K., Gu F.F. and Yim B.C.K., A Social Institutional
Approach to Identifying Generation Cohorts in |
Hung
K.H.K. and Li S.Y., Images of the 'Modern
Woman' in Advertising in |
Li Y. and Hung K.H.K., "Impacts of Virtual Community Participation on Consideration Set Size, Brand Switching Intention, and Brand Loyalty," , In: Dhruv Grewal, Michael Levy, and R. Krishnan, AMA Summer Marketing Educator's Conference Proceedings. 2006, 17: 161-163. |
Yim B.C.K., Chan W. and Hung K.H.K., "Multiple Reference Effects on Service Satisfaction and Commitment: Roles of Alternative Attractiveness and Self-Image Congruity", Journal of Retailing. 2007, 83(1): 147-157. |
Researcher
: Kwan MML |
Project Title: |
Managing the software development process: a knowledge management approach |
Investigator(s): |
Kwan MML |
Department: |
|
Source(s) of Funding: |
Other Funding Scheme |
Start Date: |
05/2000 |
Abstract: |
To apply knowledge management techniques to software development; to develop measurement framework for software development based on knowledge management perspective. |
Researcher
: Lai YM |
List of Research Outputs |
Lai Y.M. and Lam S.S.K., Organizational Citizenship Behavior within the Supervisor-Subordinate Dyad OCBs in the Supervisory Dyad , Academy of Management. 2006. |
Researcher
: Lam SSK |
Project Title: |
Transformational leadership on team performance: a cross-cultural study |
Investigator(s): |
Lam SSK |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
09/2006 |
Abstract: |
(1) To examine the effect of transformational leadership on performance at the team level, (2) to investigate the mediating effects of group cohesion and collective efficacy on the process of transformational leadership to team performance, and (3) to compare the process linking transformational leadership and team performance across two different cultures - Chinese and North American. |
List of Research Outputs |
Lai Y.M. and Lam S.S.K., Organizational Citizenship Behavior within the Supervisor-Subordinate Dyad OCBs in the Supervisory Dyad , Academy of Management. 2006. |
Lam
S.S.K., Rhine Garden Holdings Company
Limited: The Next Strategic Move, |
Schaubroeck J., Lam S.S.K. and Cha S.E., Embracing Transformational Leadership: Team Values and the Impact fo Leader Behavior on Team Performance, Journal of Applied Psychology. 2007, 92: 1020-1030. |
Yim
B.C.K., Chan W., Lam S.S.K. and Tse D.K.C., Good for the Goose or |
Researcher
: Lau AHL |
Project Title: |
Game theoretic two-echelon supply chain models using a stochastic and asymmetric-information framework |
Investigator(s): |
Lau AHL |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
01/2005 |
Abstract: |
To assume different demand-curve forms and consider as linear, iso-elastic and hybrid; to recognize the real-world prevalence of stochasticity and information-asymmetry in the players' knowledge of the market demand curve and of the manufacturing cost; to compare the manufacturing-Stackelberg and fixed-percentage-markup assumptions in defining the players' gaming relationship. |
Project Title: |
Supply chain contracts for asymmetric-information channels where the manufacturer is not dominant |
Investigator(s): |
Lau AHL |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
01/2007 |
Abstract: |
In the next couple of years we will extend our current preliminary efforts in the following directions; Component A: For a channel in which the dominant player is the retailer, we will develop "practical" contracts that the dominant retailer can design/implement to improve his own and/or the supply-chain's profits. When possible, these practical contract will be benchmarked by "theoretically optimal" contracts (e.g. a "menu of contracts") - which we will also try to derive using methodologies developed in the economics ("mechanism design" and "bargaining theory") literature. However, the "theoretically optimal" contracts are typically very complicated and unlikely to be practically implementable in the foreseeable future - hence the need to develop alternative "practical" contracts. |
List of Research Outputs |
Lau A.H.L., Lau H. and Zhou Y...W., A stochastic and asymmetric-information framework for a dominant-manufacturer supply chain, European Journal of Operational Research. 2007, 176: 295-316. |
Lau
A.H.L., Wong
R.M.K. and Woo C.H.L., AccuForm: Ethical Leadership and its Challenges in
the Era of Globalization, |
Lau
A.H.L., Lau H. and Zhou Y...W., Considering
Asymmetrical Manufacturing Cost Information in a Two-Echelon System that Uses
Price-Only Contracts, Best Paper of the Year in IIE Transactions on Scheduling
& Logistics. The award was presented at the IIE Annual Conference &
Expo |
Lau
A.H.L., Lau H. and Zhou Y...W., Considering
Asymmetrical Manufacturing Cost Information in a Two-Echelon System that Uses
Price-Only Contracts, IIE Annual Conference & Expo |
Lau A.H.L., Lau H. and Wang J., Designing a Quantity Discount Scheme for A Newsvendor-type Product with Numerous Heterogeneous Retailers, European Journal of Operational Research. 2007, 180: 585-600. |
Lau
A.H.L., Wong
R.M.K. and Wong M., KingJewels: Ethical Leadership in Practice, |
Lau
A.H.L., National Kidney Foundation: CEO with
a Golden Tap, |
Lau A.H.L., Lau H. and Wang J., Pricing and Volume Discounting for a Dominant Retailer with Uncertain Manufacturing Cost Information, European Journal of Operational Research. 2007, 183: 848-870. |
Lau
A.H.L. and Woo C., Procomp Informatic:
Stepping on the Ethical Landmines in Asia, |
Lau A.H.L., Lau H. and Wang J., Some properties of buyback and other related schemes in a newsvendor-product supply chain with price-sensitive demand, Journal of the Operational Research Society. 2007, 58(4): 491-504. |
Researcher
: Leung ACM |
List of Research Outputs |
Bose
I. and Leung A.C.M.,
Unveiling The Mask Of Phishing: Threats, Preventive Measures, And
Responsibilities, Communications Of AIS. |
Leung
A.C.M. and Bose
I., A Framework For Assessment Of Anti-phishing Preparedness, In: S. Ao,
O. Castillo, C. Douglas, D. Feng, J-A. Lee, Second International
Multiconference Of Engineers And Computer Scientists. |
Researcher
: Li B |
List of Research Outputs |
Zhou
K.Z. and Li B., How
Strategic Orientations Influence the |
Researcher
: Li Y |
List of Research Outputs |
Li Y. and Hung K.H.K., "Impacts of Virtual Community Participation on Consideration Set Size, Brand Switching Intention, and Brand Loyalty," , In: Dhruv Grewal, Michael Levy, and R. Krishnan, AMA Summer Marketing Educator's Conference Proceedings. 2006, 17: 161-163. |
Researcher
: Lu JZ |
Project Title: |
Valuation allowance for deferred tax assets and earnings management |
Investigator(s): |
Lu JZ |
Department: |
|
Source(s) of Funding: |
Small Project Funding |
Start Date: |
11/2002 |
Abstract: |
To examine empirically whether managers use the valuation allowance for deferred tax assets to take a "big bath" when they report earnings below the previous year's; to examine whether managers use the valuation allowance to increase reported income in the hope to loosen the debt covenant restrictions; to examine whether managers use the valuation allowance to meet analyst forecast. |
Researcher
: Lu Y |
List of Research Outputs |
Du J., Lu Y. and Tao Z., FDI Location Choice: Agglomeration vs. Institutions, International Journal of Finance and Economics. 2007. |
Lu Y., Chau M.C.L., Fang X. and Yang C.C., Analysis of the Bilingual Queries in a Chinese Web Search Engine, Proceedings of the Fifth Workshop on E-Business (WEB 2006). 2006. |
Lu Y. and Chau M.C.L., Mining the Query Logs of a Chinese Web Search Engine for Character Usage Analysis , Proceedings of the Pacific Asia Conference on Information Systems (PACIS 2006). 2006, 346-354. |
Lu Y. and Chau M.C.L., The Effects of Sponsored Links on Consumers' Information Processing Behavior in Comparison Shopping Engines, Proceedings of the Fifth Workshop on E-Business (WEB 2006). 2006. |
Researcher
: Lu Y |
List of Research Outputs |
Du J., Lu Y. and Tao Z., FDI Location Choice: Agglomeration vs. Institutions, International Journal of Finance and Economics. 2007. |
Lu Y., Chau M.C.L., Fang X. and Yang C.C., Analysis of the Bilingual Queries in a Chinese Web Search Engine, Proceedings of the Fifth Workshop on E-Business (WEB 2006). 2006. |
Lu Y. and Chau M.C.L., Mining the Query Logs of a Chinese Web Search Engine for Character Usage Analysis , Proceedings of the Pacific Asia Conference on Information Systems (PACIS 2006). 2006, 346-354. |
Lu Y. and Chau M.C.L., The Effects of Sponsored Links on Consumers' Information Processing Behavior in Comparison Shopping Engines, Proceedings of the Fifth Workshop on E-Business (WEB 2006). 2006. |
Researcher
: Man DCK |
List of Research Outputs |
Liu K.W., Lui S. and Man D.C.K., Individual change schema,
core discussion network, and participation in change: A study of Macau casino
employees, The 5th |
Researcher
: Mao C |
Project Title: |
Does Regulation FD Benefit Investors? New Evidence from a Latent Variable Model |
Investigator(s): |
Mao C |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
08/2006 |
Abstract: |
In this study we investigate the effect of Regulation Fair Disclosure (Reg FD) on investors' information environment by using a latent variable model. Reg FD, effective October 23, 2000, prohibits managers from privately disclosing material information to securities markets professionals such as financial analysts. The SEC commissioners believed Reg FD would prevent managers from providing material information to select investors, who then traded profitably at the expense of less informed investors. The opponents argue, however, that Reg FD curtailing the flow of information from managers to analysts would reduce the amount of information to investors. Previous studies have also found inconsistent evidence in investigating the impact of Reg FD on the capital market's information environment by examining price reactions to corporate disclosures and the properties of earnings forecasts. Eleswarapu et al. (2002); Gadarowski and Sinha (2002); Heflin et al. (2003); Shane, Soderstrom, and Yoon (2001) found significantly lower return volatility around earnings announcements in the post-FD period, conjecturing that prices contain more information about upcoming earnings. Controlling for decimalization which occurred in January 2001, however, Bailey et al.(2003) found no incremental effect of FD on return volatility around earnings announcements. Thus, it is difficult to unambiguously attribute changes in the overall price impact to Reg FD because other confounding factors may cause differences in price between pre- and post-FD periods. The present study tries to bring new evidence to the Reg FD literature by using a latent variable model to investigate Reg FD's effect on information dissemination and information production. Indirect measures in the previous studies such as changes in return volatility could capture inherent price variability, changes in interest rates, growth opportunities and any changes in the market unrelated to the impact of Reg FD on the information environment. The advantage of a latent variable model is that it provides a direct measure of the investors' information environment, which therefore, reduces the possibility of effects contributed by factors other than Reg FD. In addition to our understanding of the effect of Reg FD on investors' information environment, the present study adds to the analyst forecast literature by investigating the effect of Reg FD on analysts' forecasts. The previous studies generally examine the accuracy of analyst forecasts between the pre- and post- Reg FD periods. Three studies (Bailey et al (2003) ; Heflin et al. (2003) and Shane et al (2001)) found no change in forecast accuracy, whereas the other two (Agrawal and Chadha (2003) and Mohanram and Sunder (2001)) found a decrease in forecast accuracy after FD. Further, Gintschel and Markov (2003) found the average price impact of the analyst's report on the day it is issued declined after FD. Using the latent variable to proxy for the market's expectation of earnings, our study adds to this literature from a new perspective by "observing" the difference between analyst forecasts and the market's expectation of earnings after FD. This difference implies the impact of the Reg FD to the dependence of investors on analysts' information, which is impossible to observe without the latent variable model. To study the effect of Reg FD on the investors' information environment, we first construct an identified system of equations which treats the unobservable market's earnings expectation as a latent variable. We then solve the system and calculate explicitly unknown variables including variance of unexpected earnings and variance of analysts' forecasts deviation from the market's expectation of earnings (Mao (2006)). If the variance of unexpected earnings increases after Reg FD, then it implies that Reg FD does not improve investors' information environment since investors' information about earnings becomes less accurate after Reg FD. Otherwise, if variance of unexpected earnings decreases after Reg FD, then it implies that Reg FD improves investors' information environment based on the more accurate investors' information after Reg FD. Similarly, if the deviation between analyst forecasts and the market's expectation of earnings increases, it implies that Reg FD reduces analysts' impact on investors and vice versa. We could examine whether changes in variance of analysts' forecasts deviation from the market's expectation of earnings vary systematically across brokerage houses and analysts. Gintschel and Markov (2004) argue that analysts working at prestigious brokerages and analysts relatively more optimistic about the prospect of a firm are likely to have received privileged access to information before Reg FD. If we find the changes in variance of analysts' forecasts deviation from the market's expectation of earnings vary across brokerage houses and analysts, it will increase our confidence in contributing the changes to Reg FD rather than to confounding circumstances. We could also examine whether variance of unexpected earnings and variance of analysts' forecasts deviation from the market's expectation of earnings vary with book-to-market ratios. Analysts are more likely to have required and received specific, firm-internal knowledge for high growth firms, therefore, finding the changes vary with growth and non-growth firms will support our argument about Reg FD. |
List of Research Outputs |
Mao
C., "Is the Value Relevance of Earnings
Information Really Decreasing Over Time?", Financial Accounting and
Reporting Section ( |
Mao
C., Is value relevance of earnings really
decreasing over time?, In: , |
Project Title: |
Location-Specific Advantage: the role of locational factors in foreign direct investment (FDI) decisions. |
Investigator(s): |
|
Department: |
|
Source(s) of Funding: |
Small Project Funding |
Start Date: |
02/2007 |
Abstract: |
This study is based on the contention
that the study of locational attributes as a critical element in the process
of Foreign Direct Investment (FDI) is not only important for firms and
locations alike, but remains a neglected area in contemporary International
Business literature. The principal objective, therefore is to address this
gap in the literature, and to do so in a way that will enhance not only our
understanding of locations in general, but also our understanding
specifically of |
List of Research Outputs |
Newton
J., Tam K., Strange R. and Enright M.J., Location-specific
Advantages and Regional Competitiveness: a study of Financial Sevices MNCs in
|
Newton
J. and Tam K., The Location Variable in FDI
Decisions: an Empirical Study of Financial and Professional Service MNEs in
Hong Kong, Proceedings of the AIB ( |
Researcher
: Ng SH |
Project Title: |
Industrial
Relations and The Changing Hong Kong Environment: A Study of Trade Unions and
Their Future Prospects In |
Investigator(s): |
Ng SH |
Department: |
|
Source(s) of Funding: |
Centre of Asian Studies - General Award |
Start Date: |
09/2003 |
Abstract: |
To update the situation of trade unions in Hong Kong with respect to their size/membership, industry, and political affiliations; to examine post-1997 trade union policy with respect to economic and political developments in Hong Kong; to assess the effectiveness of government labour market policies from the perspectives of trade unions and identify their possible role and involvement. |
List of Research Outputs |
Ng
S.H. and Ip O.K.M., Hong Kong Working Class
And Union Organisation: A Historical Glimpse, In: Jean Philippe Beja, Joseph
Y.S. Cheng and Jean-Francois Huchet , International Symposium " |
Ng
S.H., Ip O. and Chan A.W., The Paradox of
Tripartititsm and Employment Relationships in an Industry of
Service-Providing Agencies in |
Ng
S.H. and Ip O.K.M., Unemployment in |
Researcher
: Ng TWH |
Project Title: |
Organizational Embeddedness and Occupational Embeddedness across Career Stages |
Investigator(s): |
Ng TWH |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
01/2007 |
Abstract: |
This study is to examine the factors that may promote individuals’ organizational and occupational embeddedness. Embeddedness is a relatively new theoretical construct within the organizational sciences. It is proposed by scholars to explain why people do not change jobs even when there is a societal norm for mobility today and when there are opportunities to make such moves. The theoretical focus of this construct is originally on “job” (that is, embeddedness in one’s job position). Expanding the scope of this line of research, I examine why people are embedded in their organizations and occupations. Another central thesis of the current article is that organizational embeddedness and occupational embeddedness develop in largely parallel fashion, yet there are still some factors that uniquely promote either organizational embeddedness or occupational embeddedness. I also suggest that a major force that underlies the divergence of organizational embeddedness and occupational embeddedness is career stage. That is, the factors that result in organizational embeddedness and occupational embeddedness vary across early, mid, and late career. Definition of embeddedness. Embeddedness is the totality of forces that keep people in their current employment. These forces include fit, links, and sacrifice. Fit is the extent to which people’s jobs fit with their skills and values. The stronger the perceived fit, the more embedded the person will be. Links refers to the extent of ties individuals have with other people and activities at work (e.g., friendship ties or task interdependence). The more links one has, the more embedded one is. Sacrifice is the ease with which links can be broken—what people would have to give up if they left their positions (e.g., pension or insurance benefits). The greater the sacrifice in leaving, the more embedded the individual will be. These three components—fit, links, and sacrifice—guide me to identify the major factors that promote embeddedness. Why are people embedded in their organizations and occupations? Many factors may promote individuals to be embedded in their organizations and occupations. These, for instance, include career exploration behaviors. Exploration behaviors are likely to allow individuals to locate an organization or occupation that fits with their skills and values, promoting embeddedness. Another potential factor is socialization. Organizational socialization is the process by which newcomers become familiar with the values, abilities, and behaviors that are essential for proper job performance. Socialization, therefore, increases individuals’ fit with the work environment and enhances embeddedness. . The number and strength of social ties may also directly increase “links” and, therefore, organizational and occupational embeddedness. Having more friends may make individuals feel less inclined to leave. The quantity and quality of mentoring may be another “links” factor that increases organizational and occupational embeddedness. Individuals may want to stay in their organizations and occupations in order to maintain the mentoring relationship. Investment in skills may increase organizational and occupational embeddedness as well because individuals may have spent a great deal of time and efforts in those investments. Thus, this factor is related to the “sacrifice” component of embeddedness. Similarly, the number of weekly work hours may also increase embeddedness. Because individuals often anticipate rewards in the future when they work for long hours, they may be less likely to leave the organization and occupation. Being married or/and having children may be “links” factors that increase both organizational and occupational embeddedness. This is because individuals may not want to have major career chances that would interrupt family members’ lives. Salary and promotions accumulated in career may also be a “sacrifice” factor that embeds individuals to stay. Changing to another organization or occupation may not allow individuals to attain the same salary and job level. Leadership activities at work may also expand individuals’ “links” at work, making them feel obligated to stay. The pension fund and insurance benefits may also increase individuals’ sacrifice in leaving the organization or occupation. Are the factors embedding individuals in the organization and occupation the same? Some of the factors discussed above may affect only organizational embeddedness or occupational embeddedness. Conversely, some other factors may affect both. Thus, in order to enhance our understanding of the topic of embeddedness, I will examine in the study which factors are likely to affect which types of embeddedness. For instance, being married or having children may disincline individuals to change organizations and occupations, promoting both organizational and occupational embeddedness. On the other hand, investments in occupational skills may only embed individuals to the occupation, but not in the organization. In fact, when individuals have generalizable occupational skills, they can easily switch to other organizations within the same occupation. Finally, socialization may only increase organizational embeddedness but not occupational embeddedness because the content of most socialization programs is organization- rather than occupation-related. Are these factors different across career stages? Individuals undergo multiple stages of career development—growth, exploration, establishment, maintenance, and eventual disengagement with the job, occupation, or even labor market. Furthermore, the number of roles individuals play and the salience attached to those roles vary across career stages. As individuals progress in their careers, they are likely to have to play different roles both at work (e.g., protégé, manager, leader, pensioner) and outside of work as well (e.g., son, husband, father, community leader). As the number of roles and the salience of different roles change, the collection of forces that embed individuals in their organizations and occupations change over time, too. For instance, career exploration behaviors and socialization may only influence embeddedness for those individuals in the early career stage. Early-career individuals often actively explore different career opportunities and undergo intense socialization by employers. On the other hand, career success may be more likely to influence embeddedness for individuals in the mid-career than others. Research suggests that mid-career is often the period within which individuals achieve the most career attainments. Pension funds and medical insurance may be more likely to affect embeddedness for late-career individuals because they are concerned with retirement and health issues more so than others. |
List of Research Outputs |
|
Lankau M.J., Ward A., Amason A.C., Ng T.W.H., Sonnenfeld J.A. and Agle B.R., Examining the impact of organizational value dissimilarity in top management teams , Journal of Managerial Issues. 2007, 19: 11-34. |
Ng T.W.H., Sorensen K.L. and Eby L.T., A theoretical integration of the roles of locus of control at work and in careers , In: Denise Rousseau, Journal of Organizational Behavior. 2006, 27: 1057-1087. |
Ng T.W.H., Butts M.M. and Vandenberg R.J., An updated meta-analysis of the relationship between employee attitude and job performance , Annual Meeting of the Society for Industrial and Organizational Psychology, New York. 2007. |
Ng T.W.H., Career mobility, In: Jeffrey Greenhaus , Encyclopedia of Career Development . 2006, 127-130. |
Ng
T.W.H., Sorensen K.L. and |
Ng
T.W.H. and |
Ng
T.W.H. and |
Researcher
: O'Connor NG |
Project Title: |
The Cost Effectiveness of Organizational Responses to Voluntary Employee Turnover |
Investigator(s): |
O'Connor NG |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
11/2006 |
Abstract: |
This proposal brings together human
resources management and accounting streams of research to examine voluntary
employee turnover. Although this problem has a great deal of relevance in |
List of Research Outputs |
O'Connor N.G., - AAAMA meeting - Discussant of paper titled - Impact of Management Control Systems' Intensity of Use on Joint Venture's Performance: an Empirical Assessment , In: AAAMA Conference, 2007. |
O'Connor N.G., AFAANZ Conference Technical Review Committee - Review all Management Accounting Papers, AFAANZ. 2006. |
O'Connor N.G., In: Editorial Board, Abacus. 2006. |
O'Connor
N.G., Determinants of Subjective Performance
Measures, - |
O'Connor
N.G., Determinants of Subjective Performance
Measures, |
O'Connor
N.G., Determinants of Subjective Performance
Measures, |
O'Connor N.G., Determinants of Subjective Performance Measures, AAA Management Accounting Section. 2007. |
O'Connor N.G., Editorial Board, Journal of Contemporary Accounting and Organizational Change. 2006. |
O'Connor
N.G., Invited Lectures - Doing Business in |
O'Connor
N.G., Management Control of Multinational
Enterprises in |
O'Connor
N.G. and Martinsons M.G., Management of
Information Systems: Insights from Accounting Research, In: Sibley, Information
and Management. |
O'Connor
N.G., Negotiating Your Way Into |
O'Connor
N.G. and Cheung C.L.K., Product/service
Adoption Strategies And Bank Customer Accounting In |
O'Connor
N.G., Putting a Price on Staff Turnover, In:
CPA Australia, Australian CPA Network Journal. |
Researcher
: Pan Y |
List of Research Outputs |
Gao
Y., Pan Y., Tse D.K.C. and Yim B.C.K., Market Share Performance of
Foreign and Domestic Brands in |
Researcher
: Qi C |
List of Research Outputs |
Qi
C. and Chau
P.Y.K., Does Interpersonal Trust Also Matter? Exploring the Role of Trust
in Successful IT Outsourcing, The Fortieth Annual |
Researcher
: Shiu KW |
List of Research Outputs |
Chau
M.C.L., Shiu K.W., Chan |
Researcher
: Tao Z |
Project Title: |
Investment externality and performance of breach remedies |
Investigator(s): |
Tao Z |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
10/2003 |
Abstract: |
To incorporate investments with external effects into standard holdup models; to investigate how breach inducement activities affect the relative performance of expectation damages and specific performance; to investigate the differences between breach inducement activities and co-operative investments in terms of their impacts on the performance of breach remedies. |
Project Title: |
Property rights, information asymmetries, and access to bank loans: evidence from private enterprises in China |
Investigator(s): |
Tao Z |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
01/2005 |
Abstract: |
The main objective of this project is to
utilize a unique data set on private enterprises in |
Project Title: |
Institutional Quality and Location of Foreign Direct Investment |
Investigator(s): |
Tao Z |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
01/2007 |
Abstract: |
As an integral part of the globalization
process, foreign direct investment (FDI) has substantially changed the
landscape of the world economy in the past few decades. Attracting FDI inflow
is placed at the top of the agenda for most countries. What determines where
FDI goes has long remained an intriguing question to academics and
policy-makers. There is still much debate about what factors and policies
most influence the location decisions of multinational enterprises (MNEs) in
the global marketplace. The conventional view puts much emphasis on the
impact of market size, taxes, trade policies, exchange rate and interest rate
policies, production costs, infrastructure adequacy, financial system
development, etc. on FDI location choices. Recently, more attention has been
paid to the institutions of the FDI recipient countries. Institutional
strength refers to rule of law, government efficiency, property rights
protection and government interference with business operations. The
objective of this proposed research is to investigate the impact of regional
institutional quality on FDI location choice by employing the firm-level
foreign-invested enterprise (FIE) data from |
List of Research Outputs |
Bai C., Tao Z. and Tong S., Bureaucratic
Integration and Regional Specialization in |
Bai C.,
Lu J. and Tao Z., Property
Rights Protection And Access To Bank Loans: Evidence From Private Enterprises
In |
Du J., Lu Y. and Tao Z., FDI Location Choice: Agglomeration vs. Institutions, International Journal of Finance and Economics. 2007. |
Lu J. and Tao Z., Determinants of
Entrepreneurial Activities in |
Wong
R.Y.C., Tao Z., Siu A.K.F., Lu X.W., Jiang J.Y. and Sun
Y.M., |
Researcher
: Tse DKC |
Project Title: |
Business and Law theme |
Investigator(s): |
Tse DKC, Pan Y, Liu Q, Arner DW, Booth CD, Hsu BFC |
Department: |
|
Source(s) of Funding: |
Seed Funding for Strategic Research Theme |
Start Date: |
05/2005 |
Abstract: |
The business and the law teams hold
different aspirations because their core strengths vary. The Business team,
in particular in its research in the |
List of Research Outputs |
Gao
Y., Pan Y., Tse D.K.C. and Yim B.C.K., Market Share Performance of
Foreign and Domestic Brands in |
Gu F.F., Hung K.H.K. and Tse D.K.C., "Guanxi’s Effects on
Market Performance in |
Hung
K.H.K. and Tse D.K.C.,
"Reflexive Learning in a Multi-Brand Web Community: Salience, Contrasts
and Effects", Department of Advertising, |
Yim
B.C.K., Chan W., Lam S.S.K. and Tse D.K.C., Good for the Goose or |
Researcher
: Venkata Subban S |
Project Title: |
Performance drivers: an integrated approach - theory and evidence |
Investigator(s): |
Venkata Subban S, Enright MJ |
Department: |
|
Source(s) of Funding: |
Seed Funding for New Staff |
Start Date: |
06/2004 |
Abstract: |
To offer a new framework for linking conceptual drivers and carry out an empirical test of the framework. |
Project Title: |
Subsidiary Typologies & MNC Strategy: Conceptual Framework and Empirical Investigation |
Investigator(s): |
Venkata Subban S, Enright MJ |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
05/2006 |
Abstract: |
A number of typologies exist in the international business literature that attempt to capture the strategic and organizational roles subsidiaries play in the overall network. However, there is little integration of the theoretical propositions as well as the empirical results. The works on subsidiary types tend to generate relatively simple and easy to understand typologies in individual papers, but when taken together as a body of research, often confuse as much as they clarify. Our objective is to provide an integrative framework and subject this framework to a series of empirical tests over a sample of multinational firms based in the Asia-Pacific Region. Key Issues: Subsidiary typology research has tended to have followed distinctive patterns, both conceptually and empirically. o On the conceptual side, typologies are often generated as second-order effects from observed or idealized strategies for managing international operations, with subsidiary types corresponding to their roles in different types of international strategies. Typologies are also generated by focusing on one or two key variables that are posited to distinguish among subsidiaries, resulting in two, three, or four-part typologies that may be subject to further investigation. o On the empirical side, one pattern involves the extensive use of case studies. Another involves a limited research frame with larger samples of companies, but focused on subsidiaries in a small number of host nations or on companies from a small number of home nations.There are a number of problems with each of these patterns which restrict the research frame and integration of the results. For instance, on the conceptual side, common approaches suffer from the fact that the questions, "What types of international strategies are there?" and "What types of subsidiaries are there?" are certainly linked, but they are not the same question. In such formulations, the postulated roles of subsidiaries and, therefore the different subsidiary types, are limited by the conceptualization of the strategies. On the empirical side, the prominence of case studies suffers from the fact that while case studies are useful starting points for theory building, the case study approach may lead researchers to focus on subsidiary types that might be idiosyncratic to their case frame. We will address these issues in this study by building on a new organizational framework. The work is significant because it tries to offer a new way to think about subsidiary roles and strategy of multinational enterprises. Further, managerial implications will be generated as to how subsidiary roles impact overall strategy. |
Project Title: |
An investigation of performance effects: the levels and persistence of locational, industry and firm effects |
Investigator(s): |
Venkata Subban S, Enright MJ |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
01/2007 |
Abstract: |
Purpose: Factors that explain firm performance have been studied empirically in strategic management. These factors are broadly categorized as external (macro-economy, industry) and internal (firm-level) factors that are relevant for firm performance. In this study, we attempt to expand the understanding as to the factors driving firm performance using empirical methods. The two key issues addressed in this study will be the following: (1) Expanding the existing model by including variables that capture the effects of country, regional, trade blocs and other geographical agglomerations, (2) Examining the level of persistence of these factors and the time frame over which these factors lose their impact on firm performance |
List of Research Outputs |
Enright
M.J. and Venkata Subban S.,
Biocon: From Generics Manufacturing to Biopharmaceutical Innovation, ACRC,
HKU, 2007, CSVS/ |
Enright M.J. and Venkata Subban S., From Activities to Strategy: Empirical Linkages between Subsidiary Activities and MNC Strategy, Academy of International Business Global Conference. 2007. |
Enright
M.J. and Venkata Subban S.,
Subsidiary types, activities, and location: An empirical investigation, Academy
of International Business / Journal of International Business Studies
Conference on the Frontiers of International Business Research. |
Researcher
: Wang J |
List of Research Outputs |
Lau A.H.L., Lau H. and Wang J., Designing a Quantity Discount Scheme for A Newsvendor-type Product with Numerous Heterogeneous Retailers, European Journal of Operational Research. 2007, 180: 585-600. |
Lau A.H.L., Lau H. and Wang J., Pricing and Volume Discounting for a Dominant Retailer with Uncertain Manufacturing Cost Information, European Journal of Operational Research. 2007, 183: 848-870. |
Lau A.H.L., Lau H. and Wang J., Some properties of buyback and other related schemes in a newsvendor-product supply chain with price-sensitive demand, Journal of the Operational Research Society. 2007, 58(4): 491-504. |
Researcher
: Wang Y |
List of Research Outputs |
Yen B.P., Hu P. and Wang Y., Towards Analytical Approach to Effective Website Designs: A Framework for Modeling, Evaluation and Enhancement, In: Norman M. Sadeh, Electronic Commerce Research and Applications. Elsevier, 2007, 6: 159-170. |
Researcher
: Wong RMK |
List of Research Outputs |
Lau
A.H.L., Wong R.M.K. and Woo
C.H.L., AccuForm: Ethical Leadership and its Challenges in the Era of
Globalization, |
Lau
A.H.L., Wong R.M.K. and
Wong M., KingJewels: Ethical Leadership in Practice, |
Lo A.W.Y. and Wong R.M.K., Transfer Pricing
Methodologies in |
Researcher
: Wong RYC |
Project Title: |
Institute of economics and business strategy |
Investigator(s): |
Wong RYC |
Department: |
V-C's Office |
Source(s) of Funding: |
Areas of Excellence Scheme |
Start Date: |
11/1999 |
Abstract: |
To study economic and business issues of strategic significance, to advance the frontiers of both theoretical and applied knowledge in this area and to have an impact on policy decisions and business practices through research, education and public information. |
Researcher
: Xu J |
Project Title: |
Evolution of Market Confidence and the Joint Dynamics of Volatility and Volume |
Investigator(s): |
Xu J |
Department: |
Sch of Economics & Finance |
Source(s) of Funding: |
Small Project Funding |
Start Date: |
11/2005 |
Abstract: |
The dynamcis of volatility and volume has been found very difficult to explain. Extesnive empirical work have ducumented that 1) volaitlity is asymmetric (Black (1976), Christie (1982), Pindyck (1984), French, Schwert, and Stambaugh (1987), Campbell and Hentschel (1992), Bekaert and Wu (2000), etc.), 2) volaitlity is clsutered (Engle (1982), Bollerslev (1986), etc.), 3) volatility and volume are positively correlated (Karpoff (1987), Lo and Wang (2000), etc.), 4) volume and volatility share similar degree of persistence (Bollerslev and Jubinski (1999), Lobato and Velasco (2000), etc.). These patterns are found to be robust across time and markets.In contrast to the extensive empirical documentations, the finance literature has seen surprisingly scarcity of theoretical work to explain these well documented empirical patterns. Already proposed explanations are found to be insufficient to explain these patterns. In their review of the volatility clsutering literature, Bollerslev, Engle, and Nelson (1994) contrasted the explosion of descriptive volatility research with "the apparent lack of any structural dynamic economic theory explaining the variation of higher order moments", which remains to be correct until today. For other patterns, existing explanations are proposed to explain one or two of them but cannot explain all these patterns simultaneously. Even worse, empiral tests that are designed to investigate their explanatory power produced mixed evidence and provided at best weak support. For asymmetric volatility, the most venerable explanations are the "leverage effect" (Black (1976), Christie (1982)) and "volatility feedback" (Pindyck (1984), Campbell and Hentschel (1992)). These two explanations have been found to be insufficient to explain observed volatility movements (Christie (1982), Poterba and Summers (1986), Schwert (1989), Bekaert and Wu (2000)). For co-persistence of volatility and volume, the mixture of distributions (MDH) hypothesis (Clark (1973), Epps and Epps (1976), Tauchen and Pitts (1983)) is the only well established explanation that has ever been proposed, but empirical tests pointing to contradicting conclusions (Lamoureux and Lastrapes (1994), Richardson and Smith (1994), Anderson (1996)).This project will propose a novel explanation for all four volatility-volume patterns within a unified framework. Specifically, this project link the dynamcis of volatility and volume to the evolution of market confidence. The link is made possible through the negative correlation between the confidence in prior beliefs and the sensitivity to new information. That is, if one is more confident in her prior belief, she is less sensitive to newly observed information. This logic also applied to financial markets as the collection of investors who participate in the market. For financial markets, market confidence can be generally defined as the average confidnece of market participants. So the key issue is to identify the mechanism according to which market confidence evolves and the mechanism according to which the evolution of market confidence is manifested in the movements of volatility and volume. Particularly, it is essential to identify how market confidence co-move with market prices since asymmetric volatility concerns the dynamics of volatility conditional on price movements. |
Project Title: |
Momentum and Contrarian Trading by Heterogenously Confident Investors |
Investigator(s): |
Xu J |
Department: |
Sch of Economics & Finance |
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
05/2007 |
Abstract: |
Recent finance studies pay increasing attention to investor behavior. A subset of these studies concern investor behavior toward past price movements (see, for example, Seyhun (1992), Keim and Madhavan (1995), Grinblatt, Titman, and Wermers (1995), Bohn and Tesar (1996), Rozeff and Zaman (1998), Choe, Kho, and Stulz (1999), Nofsinger and Sias (1999), Grinblatt and Keloharju (2000, 2001), Froot, O'Connell, and Seasholes (2001), Lakonishok and Lee (2001), Badrinath and Wahal (2002), Goetzmann and Massa (2002), Griffin, Harris, and Topaloglu (2003), and Piotroski and Roulstone (2005)). Accumulating evidence showes that different types of investors display different behavior toward past price movements. That is, while some investors tend to buy past price winners (be momentum chasers), some others tend to buy past price losers (be contrarians). In particular, it it found that:1) insiders are contrarians (see, for example, Seyhun (1992), Rozeff and Zaman (1998), Lakonishok and Lee (2001), Piotrosky and Roulstone (2005));2) institutional investors tend to be momentum chasers while individuals (households) tend to be contrarians (see, for example, Grinblatt, Titman, and Wermers (1995), Nofsinger and Sias (1999), and Griffin, Harris, and Topaloglu (2003));3) foreign investors are momentum chasers while domestic investors, particularly households, tend to be contrarians (see, for example, Bohn and Tesar (1996), Choe, Kho, and Stulz (1999), Grinblatt and Keloharju (2000, 2001), and Froot, O'Connell, and Seasholes (2001)).In contrast with the accumulating empirical documentation of who are contrarians and who are momentum chasers, structural explanations are rarely seen. Notable exceptions are Brennan and Cao (1997) and Brennan, Cao, Strong and Xu (2005). Both studies studies momentum behavior of foreign investors in the context of international investment flow. To the best of my knowledge, there is until now no theoretical studies on momentum and contrarian behavior within the group of domestic investors.This proposed project aims at understanding the driving forces behind momentum and contrarian behavior of different groups of investors. Specifically, the project links momentum and contrarian behavior to heterogeneity in investors' confidence. It is proposed that heterogeneity in confidence not only helps explain why traders trade in general, but also helps explain why some traders buy price ups while some others buy price downs. The intuition is that heterogenenous confidence implies heterogenous sensitivity to new inforamtion. Such heteroegnous sensitivty will causes relative changes in subjective and lead to trading. Particularly, less confident traders are more sensitive to new information. Thus they buy price ups and sell price downs because their asset valaution increases (decreases) more with a piece of good (bad) news. On the other hand, more confident traders are less sensitive to new information. They trade in the opposite dierction when they believe that those less confident traders overreact to the new information thus push price too high (low) with a piece of good (bad) news. The key issue for empirical examination is to identify who are more confident traders and who are less confident traders. My reading of the literature suggests that heterogenenous confidence have the potential to serve as a unified frameowrk to explain all the three findings about momentum and contrarian behavior stated above. More precisely, insider, individual, institutional and foreign investors display momentum or contrarian behavior in a way that is consistent with the relative strength of their beliefs. |
List of Research Outputs |
Xu J. and Zheng L., Short Sale Constraints, Heterogeneous Interpretations, and Asymmetric Price Reactions to Earnings Surprises, 2007 Financial Accounting & Reporting Midyear Meeting. 2007. |
Researcher
: Ye C |
List of Research Outputs |
Pal R., Bose
I. and Ye C., E-supply
Chain System At Valvex And Its Integration With ERP System, In: Q. Zhang, E-supply
Chain Technologies And Management. |
Researcher
: Yen BP |
Project Title: |
Accessibility of web information systems - a structural analysis approach |
Investigator(s): |
Yen BP |
Department: |
|
Source(s) of Funding: |
Research Initiation Programme |
Start Date: |
03/2002 |
Abstract: |
To propose a performance index, accessibility, to measure and improve the information retrieval. |
Project Title: |
Analysis of tradeoffs between page accessibility and page popularity in web design |
Investigator(s): |
Yen BP |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
02/2004 |
Abstract: |
To analyse the tradeoff between design force (accessibility) and demand force (popularity) so as to assess and improve the preformance of information retireval in Web navigation. |
List of Research Outputs |
Duffy C.M., Duffy V.G. and Yen B.P., Toward a Hybrid Model for Usability Resource Allocation in Industrial Software Product Development, Human Factors and Ergonomics in Manufacturing. Wiley InterScience, 2007, 17: 245-262. |
Lau
S.H., Ho M. and Yen B.P.,
Rationalize contemporary sourcing business by supply chain Leadership : Case
for Apparel Industry, 4th International Conference on Supply Chain
Management & Information Systems, 5th – 7th July, |
Yen B.P., Associate Editor, Information and Management. 2006. |
Yen B.P., Associate Editor, Journal of Electronic Commerce Research . 2006. |
Yen
B.P., IT and Supply Chain Management, |
Yen
B.P. and Farhoomand
A.F., Polo Ralph Lauren & Luen Thai: Using Collaborative Supply Chain
Integration in the Apparel Value Chain,, Center of Asia Business Cases,
The University of |
Yen B.P., The Design and Evaluation of Accessibility on Web Navigation, In: A.B. Whinston , Decision Support Systems and Electronic Commerce. Elsevier, 2006, 42: 2219-2235. |
Yen B.P., Hu P. and Wang Y., Towards Analytical Approach to Effective Website Designs: A Framework for Modeling, Evaluation and Enhancement, In: Norman M. Sadeh, Electronic Commerce Research and Applications. Elsevier, 2007, 6: 159-170. |
Researcher
: Yim BCK |
Project Title: |
Customer participation in services: conceptualization, measurement, and Impacts on service outcomes across different cultures |
Investigator(s): |
Yim BCK, Tse DKC |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
10/2005 |
Abstract: |
To discern the meaning and dimensionality of the construct-customer participation in services; to empirically investigate impacts of multiple participation facets on service outcomes (quality evaluation, customer satisfaction, etc.) within an integrative framework that incorporates antecedents as well as the mediating role of perceived benefits/costs; to compare the process linking multiple participation facets and service outcomes across two different cultures - Chinese and North American. |
List of Research Outputs |
Bridges E., Briesch R. and Yim B.C.K., Effects of Prior Brand Usage and Promotion on Consumer Promotional Response, Journal of Retailing. 2006, 82 (4): 235-307. |
Gao G.Y., Zhou K.Z. and Yim B.C.K., On What Should Firms
Focus in Transitional Economies? A Study of the Contingent Value of Strategic
Orientations in |
Gao
Y., Pan Y., Tse D.K.C. and Yim B.C.K., Market Share Performance
of Foreign and Domestic Brands in |
Hung
K.H.K., Gu F.F. and Yim B.C.K.,
A Social Institutional Approach to Identifying Generation Cohorts in |
Yim B.C.K., Chan W. and Hung K.H.K., "Multiple Reference Effects on Service Satisfaction and Commitment: Roles of Alternative Attractiveness and Self-Image Congruity", Journal of Retailing. 2007, 83(1): 147-157. |
Yim
B.C.K., Chan W., Lam S.S.K. and Tse D.K.C., Good for the Goose or |
Researcher
: Zhang H |
Project Title: |
Value relevant properties of smoothed earnings |
Investigator(s): |
Zhang H |
Department: |
|
Source(s) of Funding: |
Seed Funding for New Staff |
Start Date: |
11/2003 |
Abstract: |
To investigate whether earnings smoothing is associated with higher valuations per dollar of earnings and attempts to provide an explanation for the widely reported business practice of earning smoothing. |
Project Title: |
Value-relevant properties of smoothed earnings |
Investigator(s): |
Zhang H |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
09/2004 |
Completion Date: |
02/2007 |
Abstract: |
To add to the available evidence on value-relevant properties of smoothed earnings. While both empirical and theoretical research have explored other reasons why firms might smooth reported earnings, the valuation effects of earnings smoothing are potentially the most important. Somewhat paradoxically, these valuation effects are hard to document, primarily because earnings smoothing is not easily measured, and theories have been offered to explain why in equilibrium firms smooth earnings to different extents. |
Researcher
: Zheng L |
Project Title: |
CEO turnover and succession: an analysis of Chinese publicly listed companies |
Investigator(s): |
Zheng L |
Department: |
|
Source(s) of Funding: |
Seed Funding for New Staff |
Start Date: |
03/2004 |
Abstract: |
To examine chief executive officer (CEO) turnover and succession decisions in Chinese publicly listed companies. |
Project Title: |
Has the information advantage of "being local" changed post Regulation Fair Disclosure? |
Investigator(s): |
Zheng L |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
01/2005 |
Abstract: |
A widely accepted notion among practitioners is that investors have better information about nearby firms than distant ones (Coval and Moskowitz, 2001). Coval and Moskowitz (2001) documented that active mutual fund managers earn substantial abnormal returns in local holdings. In this proposed project, we will examine whether the "information advantage" coming from "being local" changed post Regulation Fair Disclosure (Regulation FD). Regulation FD prohibits selective disclosures. If mutual fund managers gain the information advantages because local management provides more detailed information to them, we expect that the information advantage and the abnormal returns diminish after the Regulation FD. We also expect that mutual funds adjust their portfolio due to the diminishing information advantages, showing less preference for local stocks. If, on the other hand, the information advantage is mainly from the skills of mutual fund managers in analyzing publicly available local information, we would not expect a significant change before and after the passage of Regulation FD. |
Project Title: |
The valuation impact of reconciling pro forma earnings to GAAP earnings |
Investigator(s): |
Zheng L, Zhang H |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
09/2006 |
Abstract: |
To investigate whether there is any mis-pricing associated with pro forma earnings disclosure; to investigate whether voluntary reconciliations between GAAP earnings and pro forma earnings reduce the extent of the mis-pricing associated with pro forma earnings; to investigate whether the introduction of Regulation G, which mandates that companies quantitatively reconcile pro forma earnings with GAAP earnings, leads to more accurate security pricing |
List of Research Outputs |
Xu J. and Zheng L., Short Sale Constraints, Heterogeneous Interpretations, and Asymmetric Price Reactions to Earnings Surprises, 2007 Financial Accounting & Reporting Midyear Meeting. 2007. |
Xu J. and Zheng L., Short sale Constraints, Heterogeneous Interpretations, and Asymmetric Price Reactions to Earnings Surprises, In: Dongcheol Kim, the First International Conference on Asia-Pacific Financial Markets . 2006. |
Researcher
: Zhou KZ |
Project Title: |
Strategic orientation, late entry strategy, and competitive advantage |
Investigator(s): |
Zhou KZ |
Department: |
|
Source(s) of Funding: |
Small Project Funding |
Start Date: |
11/2004 |
Completion Date: |
10/2006 |
Abstract: |
To examine how a firm's strategic orientation shapes its entry strategy, which in turn, impacts its competitive advantage and performance. |
Project Title: |
The Effects of Innovation and Imitation Strategies on High-Tech Venture Success: A Contingency Perspective |
Investigator(s): |
Zhou KZ |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
12/2005 |
Abstract: |
The importance of innovation in new
product developments is well recognized, in that developing and bringing to
market innovative products ahead of competitors can generate various benefits
in economic, preemptive, technological, and behavioral factors (e.g.,
Lieberman and Montgomery 1998; Zhou, Yim, and Tse 2005). A successful
innovator therefore can outsell even superior late entrants, build a large
market share, and enjoy a sustainable competitive advantage (Robinson and Min
2002). From this perspective, firms should always invest heavily in R&D
and speed new products to market, i.e., an innovation strategy is key to
long-term success. Some researchers, however, posit that the benefits of
innovation and early market entry may have been oversold. Golder and Tellis
(1993), for example, find that market pioneers continue to be market share
leaders in only 4 of the 50 product categories in their study. The average
market share of pioneers is only 10%, and their failure rate is 47%. In
comparison, late market entrants enjoy low failure rates (8%) and large
average market shares (28%). Schnaars (1994) shows that late entrants
overtake pioneers in various markets, including high-tech industries such as
personal computers and cameras, as well as low-tech categories such as food
processors, ballpoint pens, and light beer. According to this view, firms can
exploit the innovator’s efforts in developing the products and markets and
then overtake it with their improved products (Shankar, Carpenter, and
Krishnamurthi 1998; Zhou and Nakamoto 2005). That is, an imitation strategy
is a wiser choice for firms that want to gain a competitive advantage. To
address this hotly debated issue, this project compares the effects of innovation
and imitation strategies on performance and examines their contingency across
different market conditions in |
Project Title: |
Learning across Boundaries: A Contingency View of External Learning and Firm Performance |
Investigator(s): |
Zhou KZ |
Department: |
|
Source(s) of Funding: |
Small Project Funding |
Start Date: |
12/2006 |
Abstract: |
Organizational learning as a potential
source of competitive advantage can occur both within and across firms.
Although both internal and external learning are important to firm success
(Schroeder et al., 2002), some researchers have cautioned that merely
learning from its own experience can put a firm at risk of falling into
“competency traps,” in which it enjoys greater efficiency but suffers from an
inability to adapt to fast changing environments (Levinthal and March, 1993;
March, 1991). To handle market turbulence, firms must actively learn from
others to avoid path dependency and gain new insights. However, others
researchers disagree and suggest that learning from others is unlikely to
provide a source of competitive advantage, because information external to
the firm is generally available to all players in the market and thus is not
rare, non-imitable, or unsubstitutable (Barney, 1986, 1991). This controversy
regarding the merits of external learning suggests that it may not enhance
performance unconditionally. However, despite growing interest in this area,
few studies have assessed the contingency effects of external learning on
firm performance. The literature has identified two types of contingencies. First,
it suggests considering the specific research context because external
learning may have a different role in stable versus changing environments.
For example, emerging economies experience dramatic changes in their social,
legal, and economic institutions, which challenge organizational theories and
practices created in developed countries (Zhou et al., 2005). However, most
organizational learning researchers have conducted studies in developed
markets, leaving the role of external learning in emerging economies largely
unexplored. Second, within each research context, researchers must consider
the effects of contextual variables. In their extensive review, Gnyawali and
Stewart (2003) indicate that few studies directly explore the boundary
conditions of external learning and therefore recommend that further research
should identify particular sets of environmental factors, as well as
organizational variables, that may enhance or limit the effects of external
learning on firm performance. To fill these research gaps, this study
examines how external learning affects firm performance in |
Project Title: |
On the road to social relations: examining social and economic origins of relational governance in China |
Investigator(s): |
Zhou KZ |
Department: |
|
Source(s) of Funding: |
Competitive Earmarked Research Grants (CERG) |
Start Date: |
01/2007 |
Abstract: |
This project advances a comparative
framework to study the origins and effectiveness of relational governance in |
List of Research Outputs |
Bao Y., Zhou K.Z. and Zhou N., Social Alienation in a Transitional Economy: Antecedents and Impact on Attitude toward Social Reform, Journal of Business Research. 2006, 59(9): 990-998. |
Gao G.Y., Zhou K.Z. and Yim B.C.K., On What Should Firms Focus in
Transitional Economies? A Study of the Contingent Value of Strategic Orientations
in |
Zhou K.Z. and Wu F., Core Capabilities or Core Rigidities? Strategic Flexibility, Knowledge Exploitation, and Knowledge Exploration, Marketing Science Conference . 2007. |
Zhou
K.Z. and Li
B., How Strategic Orientations Influence the |
Zhou
K.Z. and Nakamoto K., The Effect of Enhanced
and Unique Features on New Product Preference: The Moderating Role of Product
Familiarit, Journal of the |
Zhou K.Z., Brown J.R., Dev C.S. and Agarwal S., The Effects of Customer and Competitor Orientations on Performance in Global Markets: A Contingency Analysis, Journal of International Business Studies. 2007, 38(2): 303-319. |
Researcher
: Zhou X |
Project Title: |
Implicit relational theoires: Content, structure, and generalizability |
Investigator(s): |
Zhou X |
Department: |
|
Source(s) of Funding: |
Seed Funding Programme for Basic Research |
Start Date: |
03/2007 |
Abstract: |
Although recent research has clearly
demonstrated that individual relationships between managers and employees
have a critical impact on leader effectiveness (Brower, Schoorman, &Tan,
2000; Graen & Uhl-Bien, 1995), there has been a lack of attention to the
content of these Leader-Member Exchange (LMX) relationships and the implicit
theories that affect people’s relationship ratings (Uhl-Bien, 2003). The
concept of implicit theory has been found to be particularly relevant in
dyadic functioning because people use implicit theories as a basis for
interpreting the behaviour of their dyad partners. Implicit theories are also
used as a foundation for generating one's own behaviour, and as a cognitive
framework for evaluating the quality of relationships (Lord & Maher,
1991). Implicit Relational Theory (IRT) represents the cognitive structure or
schema that specifies the prototypical characteristics that individuals
expect to see in high-quality LMX relationships. They are reflected in the
expectations that leaders and followers bring into the LMX relationship and
these expectations will undoubtedly affect the course of the developing
leader/follower exchange ( |
List of Research Outputs |
Zhou
X., Outstanding Reviewer Award , the |
Zhou X., Using Qualitative and Quantitative Data to Examine Leader-Member Agreement on the LMX Process, Academy of Management Meeting. 2006. |
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