ORCID Profile
0000-0003-0630-7372
Current Organisations
The Hong Kong Polytechnic University
,
Hong Kong Polytechnic University
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Publisher: Wiley
Date: 16-03-2022
DOI: 10.1002/JOOM.1175
Abstract: To exercise risk control at the corporate level, firms often appoint Chief Risk Officers (CROs) to their top management team. By establishing CRO positions, firms can reduce firm risk and potential financial losses caused by operational disruptions. Yet, by inducing stringent control measures on risks, security, and compliance, CRO appointments might create unwieldy bureaucracies with operational hurdles and incur burdensome costs that offset efficiency. Using longitudinal secondary data collected from multiple sources, we analyze the impact of CRO appointments on firm risk and operational efficiency of 435 publicly listed firms in the United States from 2006 to 2016. Our results indicate that CRO appointments not only reduce risks, but also improve efficiency in operations. We delve into the power of CROs and find that more powerful CROs are more effective in enhancing the operational efficiency of firms. We further examine the contextual factors and reveal that firms operating under high industry litigation threats and industry dynamism improve operational efficiency to a greater extent after CRO appointments. Overall, CROs' appointments are more beneficial to firms when they have stronger power in the top management team and when the operating environments are uncertain and volatile.
Publisher: Elsevier BV
Date: 07-2014
Publisher: Elsevier BV
Date: 09-2021
Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
Date: 07-2018
Abstract: We examine firms listed on the Shanghai/Shenzhen Stock Exchange to investigate stock market reactions to 294 Chinese manufacturing firms involved in 618 environmental incidents between 2006 and 2013. Through our event studies, we find empirical evidence of a significantly negative stock market reaction to announcements of environmental incidents. Our empirical analysis reveals that Chinese firms with a higher government share (of ownership) and recognition of social responsibility tend to be less affected by such incidents however, Chinese firms with stronger personal political ties (i.e., top management teams or board members with concurrent or prior government appointments) are actually affected more when environmental incidents occur. Moreover, environmental incidents caused by Chinese firms can have a significantly negative impact on the market value of their overseas customers. The online appendix is available at 0.1287/msom.2017.0680 .
Publisher: Elsevier BV
Date: 04-2015
Publisher: Wiley
Date: 12-2022
DOI: 10.1002/JOOM.1232
Publisher: Wiley
Date: 06-0002
DOI: 10.1111/IJAU.12068
Publisher: Wiley
Date: 03-10-2022
DOI: 10.1002/JOOM.1225
Abstract: Multinational corporations have benefited tremendously from free trade in the past few decades. However, the dynamism of international relations, paired with the global recession, has rekindled the debate over frictionless trade. In this study, we examine how trade friction, created by tariff trade barriers, affects the operational performance of domestic firms which source from the affected countries. We also investigate how various supply chain characteristics and strategies can moderate the impact of such trade friction. Motivated by the 2018 U.S.–China trade war, we conducted a difference‐in‐difference analysis to examine the impact of trade tariffs on performance indicators of U.S. firms with direct supplier connections in China. Specifically, we found that U.S. firms with direct supply partners (i.e., first‐tier suppliers) in China had a worse performance than the U.S. firms without direct supply partners in China in terms of inventory (i.e., days of supply) and profitability (return‐on‐assets). We further found that the negative impacts were more severe for firms with a higher degree of outsourcing, and horizontal and spatial supply base complexity. We discuss the implications for international operations management, supply chain networks, supply risk management, and provide suggestions to supply chain practitioners and trade policymakers.
Publisher: Wiley
Date: 09-05-2014
No related grants have been discovered for Andy C. L. Yeung.