Sketching: Friend or Foe to the Novice Designer?

Previous research by one of the authors showed that novice designers do not use sketching as a way to generate, develop and communicate design proposals, but move immediately to three-dimensional modelling. Neither do they generate multiple solutions. The follow-up study described here addressed the questions: Does teaching two-dimensional modelling enable Grade 7 pupils to better express their ideas and organize their thoughts? What role does discussion play in pupils' attempts to generate a design proposal? Does the use of contextualising items make a difference to pupils' success with designing? Eight Grade 7 pupils were drawn from each of two classes. One class had received instruction in sketching; the other served as a control group. Each group of eight pupils was divided into single-sex dyads. The eight dyads were videotaped while producing a solution to a common design brief. Analysis of the data has provided insights into the effects of instruction on the proposals produced by pupils. Additionally, their ability to generate, develop and communicate design ideas is enhanced by both the dynamic relationship between pupils' talk and 3D modelling and the way the task is contextualised. This revised version was published online in July 2006 with corrections to the Cover Date.     

An Examination of Labor Productivity Growth and Structural Changes in the Singapore Labor Force*

This paper ?rst examines the sources of growth in the Singapore economy by decomposing real per capita gross domestic product (GDP) growth into two components. It is found that, for the period 1974–1999, labor productivity was a signi?cant source of economic growth in Singapore. Conversely, the contribution of the rate of change in employment ratio was only of secondary importance. On further decomposition, the rate of change in employment ratio was due mainly to rate of change in population age‐structure ratio and rate of change in labor‐force participation rate. Growth patterns of the labor force were examined after it has been segregated according to gender, citizenship and age group independently. Labor productivity growth was highest in the transport, storage and communication sector, while labor productivity growth was lowest in the ?nancial, insurance, real estate and business services sector.     

Culture and entrepreneurial orientation: a multi-country study

Entrepreneurial orientation (EO) has been proven as an essential attribute of high performing firms, and the role of culture has been highlighted for generating robust EO. The purpose of this study is to investigate the role of culture by identifying differences among the selected nations in terms of EO dimensions. This is an empirical study based on the data collected from university students in the U.S., Korea, Fiji, India, and Malaysia representing nations with significantly different cultural contexts. The result showed significant differences among the nations in most EO dimensions. This implies that customized education approaches based on unique cultural context are needed for developing EO among college students.     

Dos and don'ts for Chinese companies investing in the United States: Lessons from Huawei and Haier

The implementation of the Chinese government's “Go Global” policy in 2000 has led to an unprecedented surge in Chinese outward foreign direct investment (OFDI). While Asia remains a favorite destination, the 2008–09 global financial crisis has presented opportunities for Chinese companies interested in cross‐border mergers and acquisitions in the United States. Chinese companies are keen on the United States because of access to the world's largest market and technology. However, Chinese companies have had to deal with difficulties ranging from regulatory hurdles and cultural differences. Given that the majority of OFDI is still carried out by state‐owned enterprises (SOEs), the primary obstacle for Chinese investors at the federal level is the Committee of Foreign Investment to the United States. This has proven to be an insurmountable obstacle so far for Chinese telecom company Huawei. However, the US investment environment is not all gloom and doom for Chinese companies. There are success stories too like Haier, which has managed to overcome cultural differences. This article aims to do a comparative study of Huawei and Haier and highlight the lessons the companies offer for Chinese companies interested in investing in the United States. © 2011 Wiley Periodicals, Inc.     

The ethics of alterity and the teaching of otherness

This paper proposes that Levinas's philosophy of alterity and infinitude – based upon the ethical relation between Self and Other – is both profound and limited in its ability to account for social practice. Instead of simply accepting the common criticism of Levinas, however, that he places an intolerable ethical burden of infinitude upon human relations, this paper aims to move beyond this impasse by placing Levinas's metaphysics within a frame that privileges the dynamic between the Self and the Other as a socially oriented, participative practice of teaching and learning. It is suggested that Etienne Wenger's work on the emergence of identity as a constant negotiation between the Others and the Self provides a conceptual framework for how business ethics may be owned, negotiated and learned within organizational communities without sacrificing the horizon of infinitude bestowed upon us by Levinas's ethical philosophy. Finally, the practical implications of such a comparative approach for the teaching of alterity in business ethics are discussed.     

Bounded dividends, earnings and fundamental stock values

This paper applies a model of fundamental share prices based on a bounded dividends process, with earnings as the upper bound, to assess the deviations of actual prices for over- and under-valuations. The fundamental model extends the traditional present value of future dividends analysis to allow for the effect of an earnings-dividends trade-off effect. The simple fundamental model includes a closed form share price solution which may be calibrated to generate fundamental values from which to assess actual prices for over or under valuations. The properties of the model are explored with a simulation example. The empirical example is based on S&P data and the analysis provides evidence of persistent over-valuations since the late 1990’s. Expressed another way, the analysis highlights the role of factors, other than dividends and earnings in the determination of actual asset prices since the late 1990s.     

Parametric pricing of higher order moments in S&P500 options

A general parametric framework based on the generalized Student t‐distribution is developed for pricing S&P500 options. Higher order moments in stock returns as well as time‐varying volatility are priced. An important computational advantage of the proposed framework over Monte Carlo‐based pricing methods is that options can be priced using one‐dimensional quadrature integration. The empirical application is based on S&P500 options traded on select days in April 1995, a total sample of over 100,000 observations. A range of performance criteria are used to evaluate the proposed model, as well as a number of alternative models. The empirical results show that pricing higher order moments and time‐varying volatility yields improvements in the pricing of options, as well as correcting the volatility skew associated with the Black–Scholes model. Copyright © 2004 John Wiley & Sons, Ltd.     

A Model of Ethical Decision Making: The Integration of Process and Content

We develop a model of ethical decision making that integrates the decision-making process and the content variables considered by individuals facing ethical dilemmas. The process described in the model is drawn from Janis and Mann’s [1977, Decision Making: A Psychological Analysis of Conflict Choice and Commitment (The Free Press, New York)] work describing the decision process in an environment of conflict, choice and commitment. The model is enhanced by the inclusion of content variables derived from the ethics literature. The resulting integrated model aids in understanding the complexity of the decision process used by individuals facing ethical dilemmas and suggests variable interactions that could be field-tested. A better understanding of the process will help managers develop policies that enhance the likelihood of ethical behavior in their organizations. Roselie McDevitt Sc.D. is Assistant Professor of Accounting at␣the Charles F. Dolan School of Business at Fairfield University in Fairfield, Connecticut. Dr. McDevitt teaches financial and managerial accounting. Her Primary areas of research are accounting education and accounting ethics. Catherine Giapponi is an Assistant Professor of Management at the Charles F. Dolan School of Business at Fairfield University in Fairfield, Connecticut. Dr. Giapponi teaches courses in management, organizational behavior, and strategy. Her primary areas of research are corporate governance and business ethics. Cheryl Tromley, Ph.D., is a Professor of Management at␣Fairfield University where she has taught management, organizational behavior, organizational communication, organizational␣culture, organization development, and diversity for 19 years. She has co-authored two editions of the text ``Developing Managerial Skills in Organizational Behavior'␣as well authored or co-authored a significant number of professional articles and presentations related to management and management education.     

New evidence on price impact of analyst forecast revisions

Previous research shows a positive relationship between consensus forecast revisions and stock returns in developed markets. We obtain new evidence from four major Asia-Pacific markets that suggest that abnormal returns are related to latest forecast revisions. The price impact of negative revisions is consistently stronger than that of the positive revisions. We also found considerable differences in price impact between developed and emerging markets for positive revisions, while no such difference is detected for negative revisions. The latest forecast revisions and category of analysts (those working in international broking firms) appear to be two key determinants of abnormal stock returns.