Business

Publication Search Results

Now showing 1 - 10 of 159
  • (2012) Mukherjee, Partha
    Thesis
    This study examines how emerging market firms (EMFs) develop capabilities to leapfrog in the knowledge intensive global information technology (IT) industry. Academic literatures have thus far focused on globalization of large multinational companies (MNCs) from developed countries, mainly from the OECD. While firms from the OECD are well endowed in resources, firms from developing countries are generally resource poor and their establishment, development and international expansion have taken place within an institutional environment that is different from those found in western economies. Hence how resource poor EMFs learn to transform comparative advantages into dynamic firm-specific capabilities deserves attention. The study explores how Indian IT firms “moved up the value ladder,” moving out of the “low road” where the barriers to entry are low and competition is based mainly on price and squeezing wages, to the “high road” where competition is based on differentiation. A combination of qualitative and quantitative methodology is used. The qualitative part focused on inductive case study research, moving along observation, categorization and association, finally giving rise to constructs and models. The quantitative part entailed deductive econometric studies on 703 companies using panel data method, testing hypothesis to identify which factors contribute to globalization of EMFs. The findings reveal that globalization of EMFs is an evolutionary process and in each phase of evolution, the EMFs progressively learn from their linkages with MNCs and leverage them to globalise rapidly. Through linkages with MNCs, EMFs gained access to markets, technology, and reputation. The research identified the distinctive capabilities acquired by the EMFs in each phase of their capability lifecycle. Linkages with and learning from international and domestic innovation networks transformed EMFs’ business model and upgraded their capabilities. The study shows that dynamic capability in the form of powerful intellectual property enabled EMFs to evolve from service provider to a partner status. Findings of this study present a novel and contemporary insight on how EMFs evolve to develop dynamic capability, which enables them to leapfrog in a fast changing technology space. The results challenge the view that the Indian software industry presents the classic problem of locking-in a low road of the innovation trajectory.

  • (2010) Robinson, Linda Jane
    Thesis
    Simultaneous achievement of both sales and service performance goals by retail service teams is of critical importance to retail organisations. The success of retail organisations as a whole is essentially reliant on the combined sales and service efforts of frontline service teams where issues of performance management and goal setting central to achieving high performing teams. Yet, with much of the current literature centred on the processes and outcomes of teamwork and team behaviours, little attention has been paid to the psychological foundations of teams that guide team performance. Thus, this study identifies team-level perceptions of ability (team efficacy) and motivation (team goal orientation) as critical components of retail service team performance and three key questions are addressed: (i) what are the antecedents of team efficacy?; (ii) what is the effect of team goal orientation on sales and service performance?; and (iii) how do the constructs of team efficacy and team goal orientation interact to influence the sales and service performance of retail service teams? This research reviews the retail service team context, social cognitive theory and goal theory to construct a conceptual model of retail service team performance. The model was then tested using data gathered from 13 in-depth interviews and the partial least square analysis of a quantitative survey of 319 retail service teams. Results indicate that integrating performance awareness tasks and promoting team connectedness develops strong efficacy beliefs that positively influence sales and service performance. In addition, the results support the argument for a three-dimensional model of team goal orientation through identifying differing effects of the two performance dimensions on team performance. Theoretically, the most significant contribution of this research is that it offers insight into team-level concepts only previously explored at the individual level of analysis, with the study presenting empirical evidence of team efficacy and team goal orientation as drivers of team performance in the retail services context. Managerial contributions of the research include guidance on how to direct resources towards improving team efficacy and managing team goal orientation to most effectively improve both the sales and service performance of retail service teams.

  • (2010) Mun, Xiuyan
    Thesis
    This dissertation is primarily concerned with mixture models for high-dimensional financial data. New flexible mixture models are introduced and implemented with fast and effective optimization routines. The stochastic gradient approach uses random gradients to update the parameters of the mixture model improving the chance of the iterates converging to a higher mode. Chapter 2 provides the details of the stochastic gradient optimization routines used. Chapter 3 suggests two new multivariate density estimators, namely the marginal adaptation mixture of normals and the mixture of normals copula. Their performances are compared with a few recent popular models such as the skewed-t model. Chapter 4 discusses covariance estimation for high dimensional data. The aim of the chapter is to improve the estimation of covariance matrices by using mixture shrinkage priors. This chapter also shows how to apply the priors to the simultaneous estimation of several covariance matrices such as in the case of mixture of normals models. Chapters 5 and 6 consider the estimation or fitting of models to time series data, when the models may experience a small number of structural breaks. Chapter 5 looks at univariate data and Chapter 6 considers multivariate data. In particular, Chapter 6 shows how to estimate a Gaussian vector autoregressive model subject to occasional structural breaks using a mixture of experts framework.

  • (2011) Loh, Tze Hua
    Thesis
    This thesis examines the trading behaviour of investors in the equities market of the Singapore Exchange (SGX). One of the main aims is to better understand how the heterogeneity of market participants with their strategies may be linked to the properties of order book dynamics. The conclusions drawn from the three essays could potentially influence the decisions of regulators, exchange operators, and investors in securities markets. The first essay investigates client order execution strategies in terms of how they place orders across the limit order book. The results suggest that a multi-price trading strategy, where investors place a “network” of buy and sell limit orders simultaneously, is a viable strategy and might even be profitable enough for investors to persist with the strategy. It is also shown that institutional investors tend to place more aggressive orders than retail investors. The second essay examines the effects prior order transactions, limit order book attributes, and market variables have on order submission and cancellation choices. It is found that while order transactions have a positive same order type order-by-order serial correlation, when order flow is aggregated by time intervals, the correlation of the changes in aggregated order flow of the same order type between consecutive time intervals is negative even over short time periods of five seconds. The positive order-by-order serial correlation for orders of the same type is present regardless of whether the incoming transaction is by an institutional investor or a retail investor. The final essay studies how changes in the limit order book and market conditions affect the aggressiveness levels of orders after their submissions and thus influence order cancellations. Traders who place orders near the top of the order book actively monitor those orders and decisions to cancel orders are significantly affected by changes in order book conditions such as order depth, stock volatility, market volatility, price returns, and net trade imbalance. In managing and balancing non-execution risk and option-to-trade risk, the probability that traders cancel their orders also differs depending on whether their orders have moved further away, remain unchanged, or are nearer to the best same-side prices.

  • (2012) Kwan, Amy
    Thesis
    Recently, there has been widespread concern over the growth of new ‘dark’ trading venues in equity markets. It is important to understand the implications of these changes for market quality and the impact of different trading rules, in respect of dark pools, on the relative competitive positions of trading venues. Compared to exchange trading, dark venues are characterised by pre-trade opacity, exemptions from fair access requirements and the frequent use of sub-penny pricing. This dissertation shows that these unique features influence the ability of new and existing trading venues to compete for order flow and may have long term consequences for market quality. First, I investigate the role of sub-penny pricing in the competition for order flow between venues that differ on the basis of tick size regimes. I find that order flow migrates to dark venues offering sub-penny pricing when prices are constrained by the minimum 0.01 USD tick size on the exchange. The implication of the finding is that larger minimum tick sizes generally put trading venues at a competitive disadvantage notwithstanding the benefits of discouraging free-riding. Second, I show that dark venues may use their unique features to attract uninformed clients, resulting in a segregation of informed and uninformed order flow. As a result, dark market fragmentation is associated with lower market quality, evidenced by higher transaction costs and lower price efficiency. However, the execution of large transactions on dark venues does not harm market quality. Third, I test whether non-displayed limit order books are more attractive to informed traders than crossing networks that cross only at the midpoint because traders can use discretionary pricing to reduce non-execution risk. The results show that trades executed at non-discretionary prices are more informed than trades executed at the midpoint of the National Best Bid and Offer. This dissertation contributes to the long-standing debate on market fragmentation versus market consolidation. The results also have policy implications for market regulators, who are required by their published mandates to assure themselves before approving market design changes that the changes enhance market quality, taking account of both market efficiency and market integrity.

  • (2012) Ghobadi, Shahla
    Thesis
    The phenomenon of knowledge sharing in multi-party software development projects is not easily understood, and this is mainly due to the complexity of interactions between various specialists and stakeholders. This study integrates Social Interdependence Theory and the Coopetitive Model of Knowledge Sharing to postulate and operationalise a model that explains the forces behind high-quality knowledge sharing in cross-functional software development teams. A two-step mixed sequential research design is employed to test the proposed model in the context of cross-functional software development teams. The first step, triangulation step, acts as a pilot study by providing an initial evaluation of the proposed model and its instrument. The triangulation step consists of two qualitative and quantitative pilot studies, and compares the results from semi-structured-interviews and an online survey. The second step of the research design examines the proposed conceptual model and its instrument by incorporating data collected from an online survey. The survey results confirmed the positive impact of cooperative behaviours on driving high-quality knowledge sharing, whereas competition was found to have complex consequences. Consistent with the organisational politics and the coopetition literature, the results demonstrated the mixed impacts of two facets of competition for tangible & intangible resources on high-quality knowledge sharing. Competition for tangible resources was found to positively generate cooperative communication, but to inhibit sharing high-quality knowledge. Competition for intangible resources was shown to negatively affect interpersonal relationships and the cooperative task orientation of individuals, but to enhance high-quality knowledge sharing. The results confirmed the significant impact of (i) positive outcome, means and boundary interdependencies on enhancing cooperative behaviours and (ii) negative outcome and boundary interdependencies on generating competitive behaviours. The findings help toward an understanding of the forces underlying high-quality knowledge sharing in multiparty software development teams. The multi-dimensional conceptualisation of cross-functional cooperation and competition provides a better understanding of the details of the relation between simultaneous cooperation & competition and knowledge sharing behaviours. This study adds to the emerging contingency perspective pertaining to the study of cooperation and competition in software development teams. The findings contribute to advancing the recent emphasis on understanding coopetition at intra-organisational levels.

  • (2012) Liu, Dan
    Thesis
    Customer advocacy involves strong and passionate recommendations being made by customers. However, there is little published research indicating how and why customers act as advocates for service providers for whom they have strong feelings. The primary aim of this research is to investigate the characteristics of and the contributors to customer advocacy. The research project consists of three studies. Study 1 conceptualizes and develops a scale of customer advocacy based on both qualitative and quantitative research. Results suggest that customer advocacy is a second-order construct characterized by two dimensions - spontaneous endorsement and proactive promotion. The scale exhibits solid reliability, predictive validity and discriminant validity from the theoretically-related measure of general positive WOM. Study 2 draws on self-determination theory to examine the determinants and contingent conditions of customer advocacy. Structural equation modelling analysis indicates that advocacy is largely driven by evaluative and motivational antecedents, while the effect of these antecedents on advocacy is moderated by situational and relational factors. In addition, the determinants of customer advocacy differ in their impact on general positive WOM. For example, the relative importance of the motivational dimensions is stronger in advocacy than in general positive WOM. Study 3 profiles customers with varying degrees of strength of recommendation across a range of demographic, consumer-related and psychographic factors. It is found that customers who are female, heavy users and referred by other customers are more likely to produce the strongest level of recommendation. Advocates and general positive WOM communicators tend to have a greater level of agreeableness and risk-aversion. Further, latent class analysis identifies four segments of customers. These customer segments display varying degrees of recommendation strength and other attitudinal/behavioural loyalty outcomes with unique demographic characteristics. This research appears to make the first attempt to conceptually delineate customer advocacy and to reveal the contributing influences behind the higher levels of recommendation strength. It should assist service managers in prioritizing their targeting of customers and their service improvement efforts in exploiting the power of customer recommendation as an important component of customer strategy.

  • (2012) Chan, Ka Nok
    Thesis
    Stock exchanges have become more popular and serve as one of the most important investment channels for investors in different capitalist classes. As a result, the core objectives of the major capital market regulators is to maintain and promote market efficiency and integrity, and is becoming more critical than ever. Recently, the Hong Kong Stock Exchange (HKSE) experienced several major regulatory/market design changes, such as the introduction of the Securities and Futures Ordinance (SFO) and the closing call auctions (CCA), both of which are aimed at improving market quality. HKSE therefore provides an ideal environment to determine whether the impacts of these recent microstructure/regulatory changes have a beneficial or a harmful effect on market quality. This dissertation consists of three main essays. In the first essay, I estimate the incidence of suspicious illegal insider trading on the HKSE, and investigate whether the introduction of the SFO leads to a reduction in illegal insider trading cases. I find that the introduction of the SFO and the commencement of the first prosecution under the SFO have greatly improved market integrity. Results show that market integrity is lowest for stocks in the medium deciles, and suspected illegal insider trading cases are dominated by insiders buying prior to a price sensitive announcement. The second essay investigates the impact of the SFO on information asymmetry, transaction costs and volatility. Results indicate that the probability of informed trading (PIN) decreases significantly following the introduction of the SFO. Both quoted and effective spreads narrow following the implementation of the SFO. Results indicate volatility rises after the implementation of the SFO. The third essay examines the impact of the introduction and suspension of the closing call (CCA) auction mechanism on liquidity and the price discovery process. Results show that the introduction of the closing call auction does not generate new volume, but merely shifts volume from normal trading to the closing auction. Order depth in the continuous trading session decreases significantly, which leads to an increase in transaction costs. Following the suspension of the CCA, investors in the top four quintiles execute more of their trades during the last half hour of normal trading hours. The price discovery process is improved after the introduction of the auction. However, the suspension of it leads to a substantial deterioration.

  • (2013) Ibrahim, Waleed
    Thesis
    With the growth of the Internet, firms have realised the potential of this medium as a tool to expand their businesses and offer enormous benefits to their customers. E-commerce is a way to conduct business transactions online. It provides convenience for people to purchase goods and services at lower costs and without the need of having to speak to someone directly or going into a store. E-commerce assists businesses to develop new markets, increase productivity through cost reductions and establish electronic links between businesses which makes it an integral part of the local and global market. Despite e-commerce having been around since the mid-1990s and attracting more and more attention from businesses and consumers, the adoption of e-commerce is still relatively slow among retailers compared to other ways of doing business. This is due to the lack of understanding of the e-commerce phenomenon and the context that is affecting its adoption. This research aims to provide better understanding of e-commerce adoption among Australian retailers. For this purpose the study interviewed firms from different retail categories and used a combination of Daniel et al.’s (2002) stages of growth (SOG) model and Tornatzky and Fleischer’s (1991) technology-organisation- environment (TOE) framework as the basis to develop an integrated e-commerce model that outlines the evolution of e-commerce from B2C (business to consumer) and B2B (business to business) perspectives. The model will be a useful tool for retailers to have a better understanding of their current state of B2C and B2B initiatives as well as helping them to develop suitable strategies to implement online trade and to sell products and services over the Internet. The data analysis has identified five B2C e-commerce maturity levels: web presence, e-commerce portal, e-commerce implementation, e-commerce integration and enterprise integration. The B2B e-commerce levels describe the involvement of the firm in B2B from simple format interaction through emails and other communication tools over the internet to more sophisticated levels until the final level which represents full integration of online and in-store operations. In addition, the study findings suggest that the defined e-commerce levels are influenced by internal and external factors. However, these factors were found to have a different effect on each level of adoption. In addition, the research findings suggest that organisations can reach a stagnation point from which they have no motivation to move further up to the following e-commerce maturity level either now or in the foreseeable future. Moreover, the study identified anxiety points among e-commerce maturity levels where the retailers were found to be interested in advancing further in their e-commerce implementation to integrate e-commerce with their in-store POS (point-of-sale); however, they were uncertain about proceeding as this move is associated with high human and financial investment. Finally, the study found that according to the case organisations, it is unlikely that the online trade will replace the traditional form of trade conducted through the physical location. However, among the case organisations who were involved in e-commerce, the study found that e-commerce represents an important business model for them, despite the low revenue percentage generated through this emerging and developing application of various information and communications technologies (ICTs). The proposed model is expected to be used as a roadmap for organisations considering online trade with customers and business partners.

  • (2013) Cheng, Wai-Lun
    Thesis
    This thesis was undertaken to examine hypotheses about the potential to apply the theory of planned behavior (TPB) to understand the transfer of training. Prior to developing the hypotheses, previous theories were discussed and empirical studies published over the past few decades were reviewed. Due to inconsistent findings, the thesis argues that the role of trainees, especially their intention (as envisaged in the TPB), should form a new direction for studying transfer behavior. For the thesis, two empirical studies were conducted. The first study tested an intention-based model to explain transfer of training behavior. Specifically, attitude toward the transfer behavior, subjective norm, and perceived behavioral control were proposed as antecedents of transfer intention, while transfer intention and perceived behavior control predicted transfer behavior. Results from structural equation modeling (SEM) (n = 132 construction practitioners in Hong Kong) showed that the three antecedents positively affected transfer intention, which in turn affected transfer behavior positively. Perceived behavioral control did not affect transfer behavior significantly. Moreover, a post-hoc analysis supported the mediating role of transfer intention in the relationship between the antecedents and transfer behavior. The second study examined a similar model, but added two variables – transfer performance and gender. A survey was carried out of 168 working people in Hong Kong. Testing with SEM revealed the acceptance of the explanatory powers of the different structural equations. However, among the three antecedents, only attitude toward the transfer behavior was significantly related to transfer intention. Perceived behavioral control and transfer intention were significantly related to transfer behavior, which was in turn related to transfer performance. Also, the moderating role of gender was tested with hierarchical regression analysis, and only male respondents were found to be significant in moderating the relationship between perceived behavioral control and transfer intention. Overall, the findings of this thesis support the use of the TPB in explaining transfer of training. However, the varying findings from the two studies draw attention to the nature of work (teamwork and the control of resources) that may exert influence on the transfer process. This implication is useful to develop future research directions.