GCFA/GCBM 2015
CONFERENCE PROGRAM & ABSTRACT
BOOK
ISBN: 978981-09-5764-3
1
17th August 2015
Venue: Concorde Hotel Singapore, Level 4, Aventis School of Management
REGISTRATION: 09:00 – 09:30
GCFA & GCBM 2015 OPENING: 09:30 – 09:45
KEYNOTE SESSION I: 09:45 – 10:15
Effect of Board Diversity on firm risk-taking
Dr Gennaro Bernile
Assistant Professor of Finance, Lee Kong Chian School of Business, Singapore Management
University
KEYNOTE SESSION II: 10:15 – 10:45
Building Relationship between Education Institutions and Students
Dr Helen Wong
Scheme Leader (Division of Business), The Hong Kong Polytechnic University, Hong Kong
Community College
COFFEE BREAK: 10:45 – 11:00
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SESSION 1: 11:00 – 12:30
Session Chair: Chinmoy Ghosh, University of Connecticut, USA
Modeling Near-Zero Interest Rates Using Monte Carlo Method
Philipp Delord Derancourt, ECE Paris, France; Clement Ginet, ECE Paris, France; Quoc
Hoang Long Nguyen, ECE Paris, France; Cyrille Anacleto, Kenza El Alem, ECE Paris,
France; Stanislas Fauchille, ECE Paris, France
A Robust and Efficient Implied Binomial Tree for Separable Local-Volatility Models
U Hou Lok, National Taiwan University, Taiwan; Yuh-Dauh Lyuu, National Taiwan
University, Taiwan
Integrating DEMATEL and ANP techniques for evaluation of green project management
Ying-Chyi Chou, Tung Hai University, Taiwan; Ching-Hua Lu, Tung Hai University,
Taiwan;
Hsin-Yi Yen, Tung Hai University, Taiwan; Yih-Chun Huang, Tung Hai
University, Taiwan
LUNCH: 12:30 – 14:00
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SESSION 2: 14:00 – 15:30
Session Chair: Feng Lei, China University of Petroleum (East of China), China
Do Banks Charge Information Rent in Lending Relationships? Cross-Country Evidence
Chinmoy Ghosh, University of Connecticut, USA; Fan He, Central CT State University, USA
Industrial Agglomeration, Spatial Spillovers and Regional Innovation
Zhonghua Cheng, Southeast University, China
Determinants of CEO Compensation in Financial, Insurance and Real Estate Sectors in the
United States
Phillip James, University of Technology, Jamaica; Il-Woon Kim, University of Akron, USA
COFFEE BREAK: 15:30 – 16:00
SESSION 3: 16:00 – 18:00
Session Chair: Marwa Gad Mohsen, University of Worcester, United Kingdom
A Social-Comparison Model of LMX Social Comparison, Envy, and Social Undermining
Shin-Guang Liang, National Defense University, Taiwan; Fei-Fan Chen, National Chengchi
University, Taiwan
Exchange relationship and job satisfaction in service operations: An empirical study
Rachel W. Y. Yee, The Hong Kong Polytechnic University, Hong Kong; Andy C. L. Yeung,
The Hong Kong Polytechnic University, Hong Kong
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Corporate image, person-organization fit, and intention to apply: The moderating effect of
recruitment messages
Yu-Chen Wei, National Taipei University of Education, Taiwan; Liang-Yang Lin National
Kaohsiung Normal University, Taiwan; Shih-Chen Liang, Orient Semiconductor Electronics,
Taiwan
Host Leadership: a new metaphor for a changing world
Mark McKergow, University of Hertfordshire, United Kingdom
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11th June 2015 (Academic Track)
Venue: Concorde Hotel Singapore, Level 4, Aventis School of Management
SESSION 4: 09:00 – 10:30
Session Chair: Mark McKergow, University of Hertfordshire, United Kingdom
A Classification of Quality/Cost Competitive Priorities in Japanese Manufacturing Firms:
Empirical evidence based on management accounting practices
Eisuke Yoshida, Keio University, Japan; Zhiming Xu Keio University, Japan
Understanding Consumers’ Response to Voluntary Product Recalls: the Role of Corporate
Association and Consumers’ Cognitive Frame
Yin Zhang, China University of Petroleum, China
The Application of AHP Method for Universities procurement and bidding
Li Dan, China University of Petroleum(East of China), China
COFFEE BREAK: 10:30 – 11:00
SESSION 5: 11:00 – 13:00
Session Chair: Xu Zhiming, Keio University, Japan
Organic Food Adoption: A Temporally-dynamic Value-based Decision Process
Marwa Gad Mohsen, University of Worcester, United Kingdom
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Risk and Management of Chinese Oil Enterprises Investment Abroad
Feng Lei, China University of Petroleum (East China), China
How Knowledge Creation Process can help aid Family Business Succession Plan
Vichita Vathanophas Ractham, Mahidol University, Thailand; Kalin Pipatanantakurn,
Mahidol University, Thailand
Risk Governance by South African Listed Banks
Deon de Villiers, University of Johannesburg, South Africa
LUNCH: 13:00 – 14:00
END OF CONFERENCE
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ABSTRACT BOOK
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17th August 2015
Venue: Concorde Hotel Singapore, Level 4, Aventis School of Management
REGISTRATION: 09:00 – 09:30
GCFA & GCBM 2015 OPENING: 09:30 – 09:45
KEYNOTE SESSION I: 09:45 – 10:15
Effect of Board Diversity on firm risk-taking
Dr Gennaro Bernile
Assistant Professor of Finance, Lee Kong Chian School of Business, Singapore Management
University
KEYNOTE SESSION II: 10:15 – 10:45
Building Relationship between Education Institutions and Students
Dr Helen Wong
Scheme Leader (Division of Business), The Hong Kong Polytechnic University, Hong Kong
Community College
COFFEE BREAK: 10:45 – 11:00
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SESSION 1: 11:00 – 12:30
Session Chair: Chinmoy Ghosh, University of Connecticut, USA
Modeling Near-Zero Interest Rates Using Monte Carlo Method
Philipp Delord Derancourt
ECE Paris, France
Clement Ginet
ECE Paris, France
Quoc Hoang Long Nguyen
ECE Paris, France
Cyrille Anacleto, Kenza El Alem
ECE Paris, France
Stanislas Fauchille
ECE Paris, France
Abstract
In this paper, an interest rate model based on the Monte Carlo method is proposed for zerobond pricing extending Meucci and Loregian model. The zero-bond price formulae are
derived considering an interest rate calculated from Vasicek’s model. Simulations have been
performed with the Monte Carlo method instead of partial differential equations. Application
to a French zero-coupon yield shows that the model generates realistic data fitting at the cost
of proper parameter calibration. Using arbitrary yield-curves which are close to zero and
negative, the model ensures positive shadow-rates.
Key words: Yield curve, Shadow rates, Low rates, Term structure of interest rate, Gaussian
affine term structure models, Affine Dynamic Term Structure Models, Zero Lower Bound
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A Robust and Efficient Implied Binomial Tree for Separable Local-Volatility Models
U Hou Lok
National Taiwan University, Taiwan
Yuh-Dauh Lyuu
National Taiwan University, Taiwan
Abstract
The local-volatility (LV) model is an option model that fits the implied volatility surface. Past
attempts to construct a tree for the LV model are prone to having invalid transition
probabilities and/or stock prices. As an efficient and valid tree for general LV models
remains elusive despite decades of research, it probably does not exist. This paper proposes
an efficient and valid binomial tree for LV models that guarantees valid transition
probabilities and positive stock prices when the LV function is separable in stock price and
time. It is called the waterline tree. Numerical results confirm the excellent performance of
our waterline tree.
Keywords: local-volatility model, implied trees, valid transition probabilities
Integrating DEMATEL and ANP techniques for evaluation of green project
management
Ying-Chyi Chou
Tung Hai University, Taiwan
Ching-Hua Lu
Tung Hai University, Taiwan
Hsin-Yi Yen
Tung Hai University, Taiwan
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Yih-Chun Huang
Tung Hai University, Taiwan
Abstract
This paper is based on the TOE framework for examining critical success factors of green
project management under complexity. The increasing number of recent project management
related papers highlights the importance of complexity. Project complexity is a result of both
internal and external factors. This paper examines green project management (GPM) to
propose a multi criteria approach based on the technological, organizational, and
environmental (TOE) framework for green project evaluation. The Questionnaire was
completed by fifteen project managers in the environmental management industry. The
mutual influence and weights of dimensions and criteria are calculated by DEMAEL and
ANP. The usefulness of the proposed framework and method can help managers clarify the
mutual influence of the complexity of green projects at the front-end phase, which helps
decrease financial and time costs resulting from complexity.
Keywords: Green project management, DEMATEL, Multi-criteria decision making (MCDM)
LUNCH: 12:30 – 14:00
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SESSION 2: 14:00 – 15:30
Session Chair: Feng Lei, China University of Petroleum (East of China), China
Do Banks Charge Information Rent in Lending Relationships? Cross-Country Evidence
Chinmoy Ghosh
University of Connecticut, USA
Fan He
Central CT State University, USA
Abstract
The paper examines the impact of lending relationships on loan contract terms using a sample
of 6500 loans from 40 countries. We find that relationship lending on average leads to higher
interest rate, lower collateral requirement, and shorter loan maturity for our sample of
international borrowers. However, we also show that there is significant variation across
countries regarding the benefits and costs of banking relationships, which can be explained
by countries’ legal and regulatory environments. Stronger creditor rights and higher
disclosure requirements can significantly increase the benefits of relationship lending.
Borrowers in countries with well enforced creditor rights and strict disclosure regulations
actually pay lower interest rate on relationship loans.
Keywords: Relationship loans, Creditor rights, Disclosure regulation, International finance
Industrial Agglomeration, Spatial Spillovers and Regional Innovation
Zhonghua Cheng
Southeast University, China
Abstract
Using Static and Dynamic Spatial econometric models, this paper studied the spatial
spillovers effect of Industrial agglomeration on regional innovation based on statistical data
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from 30 Provinces in 2003-2012. The results showed that: There was a significant positive
correlation of innovation output and it formed center-periphery model of global space and
club mode of local space; high value cluster agglomeration areas were mainly concentrated in
the Yangtze river area and the Pearl river area; low value cluster agglomeration areas were
mainly concentrated in western region. manufacturing industry agglomeration and market
potential affected positively on regional innovation, producer service industry agglomeration
affected negatively on regional innovation; Static Spatial model overestimated the Spatial
correlation and Dynamic Spatial model which separated the effect of input variables and
other potential factors made the estimated result more correct.
Keywords: Industrial Agglomeration, Spatial spillovers, Regional innovation, Static Spatial
model, Dynamic Spatial model
Determinants of CEO Compensation in Financial, Insurance and Real Estate Sectors in
the United States
Phillip James
University of Technology, Jamaica
Il-Woon Kim
University of Akron, USA
Abstract
The determinants of chief executive officer (CEO) compensation have been examined in
various research studies. However, to date most studies have only examined the issue over a
relatively short time horizon and with respect to only individual sector at any one time. This
study is the first to seek to identify the main determinants of CEO compensation over a
twenty-two year period from 1992 to 2013, and with respect to three US sectors, namely the
financial, real estate and insurance sectors. Companies were selected from the Execum
database and the data were analyzed by regression analysis. The results showed that some of
the statistically significant variables influencing CEO compensation were: directorship, age
of CEO, return on asset, return on equity and total asset. This study therefore adds to the
existing body of literature on executive compensation as it is the first of its kind to undertake
a comparative analysis of three sectors in the USA
Keywords: CEO compensation, financial sector, real estate sector, regression analysis
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COFFEE BREAK: 15:30 – 16:00
SESSION 3: 16:00 – 18:00
Session Chair: Marwa Gad Mohsen, University of Worcester, United Kingdom
A Social-Comparison Model of LMX Social Comparison, Envy, and Social
Undermining
Shin-Guang Liang
National Defense University, Taiwan
Fei-Fan Chen
National Chengchi University, Taiwan
Abstract
Over the past several decades, leader-member exchange (LMX) has grown substantially as
one of the richest leadership approaches to understand leader effectiveness (Graen & UhlBien, 1995). LMX theory rests on the fundamental assertion that leaders develop differential
types of exchange relationships with their employees such that within work groups, leaders
develop low-quality transactional relationships with some and high-quality socioemotional
relationships with others (Dansereau, Graen, & Haga, 1975). The predominant paradigm in
LMX research involves examining employees’ perceptions of the quality of exchange
relationship with their leaders and linking these perceptions to a handful of attitudinal,
behavioral, and performance outcomes. For example, a plethora of research has consistently
confirmed that employees’ high-LMX perceptions are positively associated with crucial
outcomes including organizational commitment, organizational citizenship behavior (OCB),
work performance, and creativity. This research has undoubtedly enriched our understanding
of the potential benefits of having a high-quality with the leader. As noted by Vidyarthi,
Liden, Anand, Erdogan, and Ghosh (2010), however, this research treated leader-member
dyads in isolation, as it overlooked the essential that employees are typically nested within
work groups. Employees generally have a variety of formal or informal opportunities to
observe and evaluate other colleagues’ LMXs within work groups. The results of observation
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and evaluation may impact employees’ subsequent emotional, attitudinal, and behavioral
responses. Vidyarthi et al. (2010, p. 849) referred to such an evaluative process as LMX
social comparison (LMXSC), operationalized as “subjective ratings by individuals of their
LMX compared to the LMXs of coworkers.” Drawing on an overarching framework of social
comparison theory (Festinger, 1954), the current study therefore presents and tests a socialcomparison model of the social comparison process of low LMXSC employees. We examine
envy as an emotional mechanism through which LMXSC is negatively related to social
undermining and propose dispositional envy as a moderator of this envy mechanism. Using
two-wave data (Study 1) from a sample of 234 employees and two-wave, multi-source data
(Study 2) from a sample of 284 employees nested in 68 work units, we found that low
LMXSC employees are more likely to engage in social undermining behaviors. Furthermore,
our results revealed that low LMXSC employees are more likely to engage in social
undermining behaviors because of their envy towards high LMXSC employees, and
dispositional envy strengthens the mediated relationship. Theoretical and practical
implications for LMXSC, as well as negative interpersonal emotions and behaviors, are
discussed.
Keywords: leader-member exchange social comparison, dispositional envy, envy, social
undermining
Exchange relationship and job satisfaction in service operations: An empirical study
Rachel W. Y. Yee
The Hong Kong Polytechnic University, Hong Kong
Andy C. L. Yeung
The Hong Kong Polytechnic University, Hong Kong
Abstract
Service industries are the major driving force for the world’s economy. According to World
Bank, service sectors account for 70% of the GDP in such developed countries as the United
States, United Kingdom and Japan in the recent ten year. It is generally understood that,
service industries, particularly those labour intensive ones, need satisfied customer-contact
employees to perform high-quality services. Nevertheless, one overlooked and underresearched dimension in service operations is working relationships, which are likely to affect
employee behavioural performance in delivering services. In this research we argue leadermember exchange (LMX) and job satisfaction are important to heighten operational
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performance in highly labour-intensive service industries. Specifically, we conceptually
develop a model incorporated with empowerment, LMX, job satisfaction and service quality.
To test the hypotheses of the model, we conduct a large-scale study of highly labourintensive service industries in Hong Kong. We applied multiple informant approach to collect
triadic data from managers, boundary-spanning service employees and customers in firms.
We finally collected data from 2,025 individual participants, including 225 managers, 675
service employees and 1,125 customers. We applied structure equation modelling to analyse
the triadic data collected. The findings show that service quality is affected by LMX, not job
satisfaction. The results also show that empowerment influences LMX, not job satisfaction.
This research offers important academic implications because LMX has attracted very little
research attention in service operations management. Despite this, LMX is indeed a
significant construct because it represents alternative means of improving service quality. It is
an issue that has recently been of great relevance and importance in operations management.
From a practical perspective, compared with the traditional operations management
advocating process standardization and optimization, this research suggests alternative means
particularly appropriate for service firms to enhance service quality through strengthening the
LMX quality and empowering customer-contact employees.
Keywords: Empowerment, Leader-member exchange, Job satisfaction, Service quality,
Empirical study
Corporate image, person-organization fit, and intention to apply: The moderating effect
of recruitment messages
Yu-Chen Wei
National Taipei University of Education, Taiwan
Liang-Yang Lin
National Kaohsiung Normal University, Taiwan
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Shih-Chen Liang
Orient Semiconductor Electronics, Taiwan
Abstract
Our study applies person-organization fit to examine the relationship between an
organization’s corporate image and a job seeker’s intention to apply. It further explores how
recruitment messages affect the relationship between corporate image and personorganization fit. We focused on a single job field, using actual job openings posted by 28
companies as our research data. Fifty-six participants read the job advertisements and
completed a survey, yielding 1,568 observation samples for analysis. Our results showed that:
1) corporate image is positively related to intention to apply and person-organization fit; 2)
person-organization fit fully mediates the relationship between corporate image and intention
to apply; and 3) detailed recruitment messages strengthen the positive relationship between
corporate image and person-organization fit.
Keywords: corporate image, intention to apply, person-organization fit, recruitment message
Host Leadership: a new metaphor for a changing world
Mark McKergow
University of Hertfordshire, United Kingdom
Abstract
The metaphor of leader as host (McKergow & Bailey, 2014) offers a new, practical and
profound way to pull together new and effective leadership strategies for our faster-moving
world. This metaphor build on both the hero and servant metaphors, and transcends both.
Hosting – receiving or entertaining guests – has been key to humanity for millenia. Hosts
both step forwards (to make things happen) and step back (to allow their guests room to do
their thing). This paper will present finding gathered over a decade in talking to great leaders
and great hosts. The overall metaphor will be explored, and a novel model of six roles and
four positions for a host leader shown.
Keywords: Leadership, Complexity, Wicked problems, Responsiveness, Host, Servant
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11th June 2015 (Academic Track)
Venue: Concorde Hotel Singapore, Level 4, Aventis School of Management
SESSION 4: 09:00 – 10:30
Session Chair: Mark McKergow, University of Hertfordshire, United Kingdom
A Classification of Quality/Cost Competitive Priorities in Japanese Manufacturing
Firms: Empirical evidence based on management accounting practices
Eisuke Yoshida
Keio University, Japan
Zhiming Xu
Keio University, Japan
Abstract
This study aims to provide features of quality/cost priorities by developing a classification
reflecting various target cost management practices. Using a mail survey, we find 4
combinations exist, namely Disadvantaged, Cost-emphasis, Quality-emphasis, and Dualemphasis. We also explore the combinations’ differences in management accounting
practices and organization size. The results show that large extent regarding usage of cost and
performance measures in Dual-emphasis group, significant dysfunction of TCM in Costemphasis firms, and no organization size difference between Quality-emphasis and
Disadvantaged group. This paper develops operations management theory by providing an
alternative approach about coexistence of high-quality/low-cost based on a product
development view. In addition, our findings of combinations’ differences propose the
contribution of management accounting information in investigating competitive priorities’
relationships.
Keywords: target cost management, quality management, competitive priority, mail survey,
cluster analysis, analysis of variance
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Understanding Consumers’ Response to Voluntary Product Recalls: the Role of
Corporate Association and Consumers’ Cognitive Frame
Yin Zhang
China University of Petroleum, China
Abstract
One of the most pressing problems faced by business leaders in product recalls is to reduce
negative consumer responses and protect the firms’ reputation.Though most research
suggested that voluntary recall before any consumer safety incidents occur causes positive
consumer response, some companies are blamed when initiating voluntary recalls.In this
paper,the author examine the formation of consumer’s interpretation on voluntary product
recalls and their response to communication strategies adopted by the company.Based on
structural alignment theory,the author proposes that corporate association of a company held
by consumers influence consumers’ cognitive frame of the voluntary product recall events
initiated by the company. The results of field experiments reveal that when consumers hold
corporate ability associations for the company,they are more likely to see product recall as
signals of product defect or failure.When consumers hold corporate social responsibility
associations for the company,they are more likely to see product recall as benevolent action
to protect customers from potential risk.Besides,the alignment between consumers’ congitive
frame and communication strategies adopted by the firm affect consumers’s attitudes to firms
initiating voluntary recalls. When a product recall is seen as signal of product
failure,accomodative response strategy indicated acceptance of product defect and strengthen
negative attitude,while a product recall is interpreted as goodwill of the firm, accomodative
response strategy will strengthen positive attitude.
Keywords: Voluntary Product Recall, Corporate Association, Consumers' Cognitive Frame,
Communication Strategy, Consumers’ Attitude
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The Application of AHP Method for Universities procurement and bidding
Li Dan
China University of Petroleum(East of China), China
Abstract
Accompany with the vigorous development of higher education, the materials and equipment
requirements in college are increasing year by year. Just, fair and scientific materials bidding
method has a decisive significance to ensure that tendered and bidder’s legitimate rights and
interests. So the method to determine the winning company becomes the focus that tender,
bidders and bid evaluation committee pay attention. The commonly used methods that review
bid, tender side usually depend on the qualitative analysis and logical judgment, lack
quantitative analysis. Bid evaluation is multiple objective decision making problem including
technology, economy, security, management and other factors. The applications of the AHP
method, taking the influence factors of evaluation as a system to consider, show that the
qualitative index can be changed into quantitative index, the evaluation process and
conclusions is objectively, fairly and reasonably. This paper proposes a method to quantify
the relationship between object and factors in bidding universities procurement of materials
，based on the AHP Method and analysis of the representative factors in bidding decision.
This model is of universal significance in application.
Keywords: AHP Method, universities, procurement of materials, biding
COFFEE BREAK: 10:30 – 11:00
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SESSION IV: 11:00 – 13:00
Session Chair: Xu Zhiming, Keio University, Japan
Organic Food Adoption: A Temporally-dynamic Value-based Decision Process
Marwa Gad Mohsen
University of Worcester, United Kingdom
Abstract
Perceived value has been studied in literature in relation to its ‘how’ (how consumers
perceive value) and ‘what’ (what value consumers identify and seek) dimensions. This study
proposes a new perspective that focuses on the ‘when’ dimension based on a temporal
framing of perceived value consumers pursue in the context of adoption decision-making,
examining its influence on progression in the adoption decision process. The research is
operationalised using organic food – a non-durable trend in the food sector, comprising an
incremental or continuous innovation. The study integrates literature on time in decision
processes, consumer adoption decision making and consumer value perceptions; the main
aim is to investigate the relationship between time-based value sought and consumer speed
along the standard process steps, checking for a consistently speedy or slow progress, and the
consequent prospective process outcomes. Hence, the research offers a realistic time
perspective of the adoption decision process, investigating the association between
temporally-dominant value sought and the dynamics of making adoption decisions. Data is
collected from a sample of consumers in the UK through a survey to investigate and test a
number of hypotheses. Findings suggest that consumers predominantly driven by perceived
future-based value have a higher likelihood to move more speedily along the adoption
process steps, are more likely to symbolically adopt organic food pre-trial, and have a higher
propensity to reach the decision to fully adopt it as opposed to consumers principally driven
by its perceived present-based value; the latter are more likely to have a slower advancement
in the process, have a lower likelihood to symbolically adopt organic food, and have a higher
propensity to linger longer in an ongoing evaluation than to reach an adoption or rejection
outcome. Marketers can use the results to better profile distinctive target segments of organic
food consumers using a ‘temporal-value based’ segmentation and positioning approach.
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Keywords: Temporal-based value, Consumer adoption decision process, Symbolic adoption,
Organic food
Risk and Management of Chinese Oil Enterprises Investment Abroad
Feng Lei
China University of Petroleum (East China), China
Abstract
Since the rapid development of the economic globalization and integration, the investment
domain of Chinese oil enterprises involves in more and more countries abroad. This paper
introduces the definition and types of the offshore investment risks, and then analyses the
development roots of three major oil enterprises in China and summarizes the general status
of their investments abroad. Concerning the risks, they primarily come from the operational
process, market in the host country and other risks. Thus, the effective strategy of the
offshore investment of Chinese oil enterprises consists of a deeper assessment to the political
risk of the host country, strengthening the economic relationship with the host partners, and
carrying on life-time risk management.
Keywords: Chinese oil enterprises, overseas investment, risk management
How Knowledge Creation Process can help aid Family Business Succession Plan
Vichita Vathanophas Ractham
Mahidol University, Thailand
Kalin Pipatanantakurn
Mahidol University, Thailand
Abstract
Family business is one of the oldest and most widely used forms of business. Knowing that
family business is the main contributor for most economy, their survival rate and continuity
become very critical toward growing economy. Currently, one of the biggest problem faces in
family business is how to cope with succession process. A succession plan is broken into four
main stages where there will be a mutual role adjustment between predecessor and successor.
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There are sole operator-no role, monarch-helper, overseer-manager, and consultant-leader
stage of transition. The role of the predecessor seems to progress with lessen involvement in
each stage, whereas the role of the successor moves toward the opposite direction. Knowing
that knowledge is very important for family business to success, the key to a successful
succession plan is for the successors to be equipped with sufficient knowledge to run the
business. This paper aims to come up with a knowledge creation process to help improve
family business succession process.
Qualitative methods using semi-structured interviews with predecessors and successors, was
conducted. The result emphasizes highly on the importance of Socialization during Phase I
(Sole Operator/No Role Phase) in succession plan process. Two main factors are early
exposure for successors/early involvement from the predecessors and high level of
preparation for the successors. In addition, other factors such as mentoring, apprenticeship
and learning through explicit material, are discussed on the following knowledge creation
process for successful succession plan in family business.
Keywords: Family Business, Succession Plan, Knowledge Creation Process
Risk Governance by South African Listed Banks
Deon de Villiers
University of Johannesburg, South Africa
Abstract
Integrated reporting on risk governance is dependent on the actual risk governance strategies
employed by South African-listed banking entities. Proper risk governance strategies are
based on a clear understanding of the risk governance universe. This involves the
identification, measurement and mitigation of unwanted risk exposure, which is, in turn,
dependent on the manner in which risk management plans have been applied throughout the
different levels of employment in South African-listed banks. The South African listed banks
are transparent (based on the content analysis done) of their disclosure of risk governance in
their integrated reports of 2013. The implication of this study hint at risk based development
of employee consciousness in performing their duties at all levels of banking employment
holistically.
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Keywords: Integrated report, risk governance, King III, Enterprise Risk Management,
Information Technology, Business Continuity Management, ISO 27002, ISO 31000, FTSE,
JSE Banks Index, COBIT, Basel III
LUNCH: 13:00 – 14:00
END OF CONFERENCE
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