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DTSTART;TZID=Asia/Singapore:20250401T100000
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DTSTAMP:20260421T105154
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SUMMARY:DAO-ISEM-IORA Seminar Series: Vinod Singhal
DESCRIPTION:Name of Speaker\nVinod Singhal\n\n\nSchedule\n1 April 2025\, 10am – 11.30am\n\n\nVenue \nBIZ1 02-06\n\n\nLink to Register\nhttps://nus-sg.zoom.us/meeting/register/KIy_WyM9SIioyfk8l5-XzQ\n\n\nTitle\nThe Bullwhip Effect and Stock Returns\n\n\nAbstract\nThe bullwhip effect (BWE) is an important phenomenon in the operations and supply chain management field. Although it is commonly accepted that the BWE is widespread and can have a significant adverse impact on financial performance\, there is surprisingly limited objective evidence on the financial consequences of the BWE. This paper examines the impact of the BWE on financial performance by examining the relationship between the BWE and stock price performance. The empirical analysis is based on data from 1985 to 2018 from about 7\,200 publicly traded firms and about 64\,000 firm-years. We find that most results on the impact of the BWE on stock returns are statistically indistinguishable from zero. The few marginally significant results that we find suggest a positive relationship between the BWE and stock returns rather than the expected negative relationship. However\, these marginally significant results do not hold when alternate methods are used to test the relationships. These conclusions are robust when we segment the sample by size\, industry\, and time periods. We also do not find a significant relationship between the BWE and stock returns for samples based on the propagation of the BWE from customers to suppliers. We do find some evidence to suggest that the BWE has a negative impact on inventory turnover. However\, we do not find similar evidence for capacity utilization. The relationships between the BWE and return on assets measures are statistically insignificant. For margin measures\, the relationships are positive and statistically significant but not economically significant.\n\n\nAbout the Speaker\nVinod Singhal is the Charles W. Brady Chair Professor of Operations Management at the Scheller College of Business at Georgia Institute of Technology\, Atlanta\, USA. He has a Ph.D. from University of Rochester\, Rochester\, USA. Prior to joining Georgia Tech.\, he worked as a Senior Research Scientist at General Motors Research Labs. \nVinod’s research has focused on the impact of operating decisions on accounting and stock market-based performance measures. His research has been supported through grants from the US Department of Labor\, National Science Foundation\, the American Society of Quality\, and the Sloan Foundation. He has published extensively in academic journals and has made more than 200 presentations at different universities. His research has been recognized in the practitioner community through his many articles in industry-practitioner journals and frequent invited presentations as keynote speaker at practitioner conferences. His research has been cited over 200 times in practitioner publications such as Business Week\, The Economist\, Fortune\, Smart Money\, CFO Europe\, Financial Times\, Investor’s Business Daily\, and Daily Telegraph.  His research has been extensively cited in academic publications\, with nearly 15\,000 citations. His paper “An empirical analysis of the effect of supply chain disruptions on long‐run stock price performance and equity risk of the firm” was voted by the POMS members in 2024 as one of the top-ten papers published in Production and Operations Management in the last 30 years. \nVinod is a Departmental Editor of Production and Operations Management\, and Associate Editor of Management Science. He is a Fellow of the Production and Operations Management Society.  He served on the Academic Advisory Board of the European School of Management and Technology\, Germany. \nVinod’s teaching interests include operations strategy and supply chain management. He has contributed to teaching at an international level\, as well\, by offering research workshops in countries including Australia\, China\, France\, Germany\, Hong Kong\, India\, New Zealand\, Singapore\, South Korea\, Spain\, Sweden\, and United Kingdom.
URL:https://iora.nus.edu.sg/events/dao-isem-iora-seminar-series-vinod-singhal/
CATEGORIES:IORA Seminar Series
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