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Dr. Tom Griffin & Ms. Juleigh Giberson Research Centres & Institutes 12
Dr. Seung Hwan (Mark) Lee & Dr. Rafay A. Siddiqui CONNECT
Research Accomplishments 14
Dr. Farid Shirazi, Dr. Dolores Añón Higón & Dr. Roya Gholami
Opening Message
One of the greatest strengths of TRSM is our ability to connect –
with students, research networks, industry and the community.
As we detail in the pages of this report, connections and collaborations are bringing out the
best in our research community.
From learning about the impact information and communication technology has on air
pollution around the globe to uncovering insights into what business incubators should be
spending money on to operate more effectively, TRSM researchers have collaborated with
partners within the school, the city and internationally to address critical issues and shed
light on emerging technology and trends.
The research culture continues to grow at TRSM. Our research centres, institutes and labs
enhance our collaborative focus, as do the more than 450 external and funding research Dr. Avner Levin
partners we worked with in 36 countries for our innovative projects in 2017. We also have
over 1,600 undergraduate students participating in studies conducted by our faculty,
showing how students are getting involved to help further our work.
In addition, TRSM researchers are being recognized for outstanding contributions to their
fields. For example, social media research leader Dr. Anatoliy Gruzd was named by the
prestigious Royal Society of Canada as a member of the College of New Scholars, Artists
and Scientists. He also received the Ryerson University Collaborative Research Award for
advancing research on online communities, social networks and scholarly practices in the
social media age.
Furthermore, social innovation pioneer Dr. Wendy Cukier received the Ryerson University
Social Innovation and Action Research Award for over 20 years of dedication to action
research aimed at advancing diversity and inclusion.
As the stories in this report illustrate, TRSM continues to be at the forefront of research that
is driving innovation and advancing knowledge in areas ranging from virtual reality in retail
and tourism to family caregiver health that will make a difference both within our community
and beyond.
Dr. Hong Yu
Determining How to
Operate Business Dr. Dave Valliere
Entrepreneurs are vital to the growth of the economy, the creation of good jobs and the development of new products, services
and markets. This is why it is important to better understand entrepreneurship and business incubators, which help startup
companies develop.
Many activities and policies in the entrepreneurship world are done on hunches and “lay theories” that have not been tested to see
whether they are actually true. It is also not unusual for common beliefs about entrepreneurship, such as risk-taking or how investors
make investment decisions, to turn out to be wrong. As a result, incubators might not be run in the most effective way.
To gain more insights into entrepreneurship, Dr. Dave Valliere and Dr. Charlene Nicholls-Nixon conducted interrelated research studies
to confirm the ways in which incubators actually create value and the activities that support this value creation.
“Given how much public money is being spent in the area of startup incubation and acceleration, we should find out if we’re getting full
benefit from it,” Dr. Valliere explains. “Past research clearly suggests that it is not enough to simply rely on the opinions of practitioners
(entrepreneurs, investors, incubator managers) to find out what works best.”
Connecting with Ryerson’s Zone Startups is providing the researchers with incredibly rich data, as well as an implementation partner
who is highly motivated to achieve excellence by exploring new approaches.
Dr. Valliere and Dr. Nicholls-Nixon’s study will provide useful insights into the things that really matter and are productive for incubators.
With this increased understanding, money can be spent in ways that are appropriate for the unique circumstances of each incubator.
4 | TRSM Collaboration
Examining Dual Broker Real
Estate Transactions
If the real estate buyer and seller are represented
by the same agent, does it result in a better deal
for anyone or everyone?
The real estate industry and academics have been
questioning whether it matters if the same brokerage
firm represents both sides of a real estate transaction,
and if the “dual broker” transaction, as this is called,
should be addressed through government policy.
To gain insights into this question, Dr. Jia Xie and Dr.
David Scofield used office transaction data from the
United States to explore pricing effects of brokerage
Dr. David Scofield Dr. Jia Xie
when both parties are represented by the same firm. Assistant Professor Assistant Professor
The researchers’ findings suggest that dual broker Real Estate Management, Real Estate Management,
Ted Rogers School of Ted Rogers School of
real estate transactions could be harmful to sellers, Business Management Business Management
especially those who are represented by small
brokerage firms. These results are relevant to policy
makers and real estate industry professionals.
Dr. Scofield is involved in research that explores the preferences of different
groups of foreign investors when acquiring commercial real estate in the U.S.,
and research that examines the impact of organization capital expenditures
on the returns of real estate investment trusts.
Dr. Xie, meanwhile, has been studying how deregulations in the banking sector of the
financial system affect household behaviour, such as their stock market participation
“Discussions with co-authors
rate, home ownership rate and entrepreneurship. He has also been trying to identify also inspire
the collusion behaviour between listing agents and buyer agents in the U.S. housing
market, as well as the price distortion associated with agent collusion.
research ideas, solutions
“Dr. Scofield and I have complementary skills and expertise, and this allows us to pursue and interpretations.”
research in a more efficient, robust manner,” explains Dr. Xie. “Discussions with – Dr. Xie
co-authors also inspire research ideas, solutions and interpretations.”
Dr. Xie will be leaving TRSM to join the Finance Department at California State University,
Fullerton. We look forward to collaborating with him and his new colleagues in the future
and expanding our network.
TRSM Collaboration | 5
The Role of Financial Analysts in the
Valuation of Firms’ Investment
Financial analysts are good at describing tangible assets for
investors, but how good are they at detailing the value of less
concrete but increasingly important things like a company’s edge
in research and development?
The shift from an industrial to a knowledge-based economy, where
intangible assets have become the primary sources of value for
many firms, has increased the difficulty for investors to properly
value firms’ investments. Dr. Melissa Toffanin and Dr. Lu Zhang
wanted to explore a way in which this valuation can be facilitated.
A natural place to begin their study was with financial analysts.
Dr. Toffanin and Dr. Zhang’s research examines the role played
by financial analysts, through their function as information
intermediaries, in helping investors to incorporate firms’ innovation
activities into their market valuations.
Firms’ investments in research and development (R&D) are
generally more difficult to value because these investments
are not comparable among firms, they have no established
market price and their outcomes can be highly uncertain. The
researchers explore whether the information produced by financial
analysts reduces the information asymmetry surrounding these
Dr. Lu Zhang Dr. Melissa Toffanin
investments and improves their market valuations. Assistant Professor, Finance Assistant Professor, Finance
“Dr. Zhang and I tackled the research question from different School of Accounting & Finance School of Accounting & Finance
6 | TRSM Collaboration
Exploring Sleep Among Family Caregivers
of Children with Medical Complexity
A unique research partnership between a faculty member from the
School of Health Services Management and a nurse researcher from
Toronto’s SickKids and Holland Bloorview Kids Rehabilitation Hospitals
has examined the impact childhood disabilities and complex illnesses
have on caregivers’ sleep disturbance.
The number of children with medical complexities who depend on
medical technology (e.g., home ventilation) is on the rise worldwide.
So too is society’s reliance on family caregivers to provide care in their
homes around the clock, which equates to millions of hours of “unpaid”
care per year for this population. This responsibility has been linked
to chronic sleep disturbance, placing family caregivers at risk of sleep
deprivation and impaired health and daytime function, which threatens
their capacity for sustained caregiving.
With limited research available measuring sleep in family caregivers, Dr.
Karen Spalding and Dr. Krista Keilty sought to advance knowledge in this
area by systematically documenting what was known, then characterizing
sleep disturbance using an objective measure and exploring factors that
influence sleep disturbance in this vulnerable population.
The researchers found that these caregivers do not achieve adequate
sleep quality or quantity and that there are multiple factors for sleep
Dr. Karen Spalding Dr. Krista Keilty
disturbance, with foundational influences derived from the caregiver Associate Professor Nurse Practitioner/
(constant worry and persistent vigilance; fear and mistrust) and their School of Health Project Investigator
environment (equivocal relationship with homecare nurses, layering Services Management The Hospital for Sick Children
Industry Collaboration | 7
Ms. Nina Jovanovic
Master of Science in Management
(MScM) Student
Ted Rogers School of Management
Investigating Mechanisms
Dr. Hossein Zolfagharinia to Encourage Trucking
Companies to Go Green
Assistant Professor
Global Management Studies
Ted Rogers School of Business Management
Amid broader concerns about environmental sustainability, the focus has settled on the impact of manufacturing. But are we
missing an important part of the picture by failing to examine the impact of transporting those manufactured goods?
Due to more rigorous environmental requirements on a global scale, the topic of environmental sustainability has become a central
theme for both academics and practitioners. Moreover, there has also been a growing interest in the application of environmental
sustainability measures in the logistics and supply chain industries in the last decade, particularly as countries try to meet the emissions
reduction targets they set at various United Nations Climate Conventions.
With the transportation sector currently accounting for one-fourth of total Canadian emissions – of which, more than half are attributable
to trucking transportation – there is a significant need to investigate how logistics service providers in the trucking sector can be
incentivized to adopt a more environmentally-oriented attitude. This is particularly important as recent estimates show that Canada is not
on track to achieve the 2030 emissions reduction target that it committed to at the last United Nations Climate Convention in 2015.
Dr. Hossein Zolfagharinia, Assistant Professor, Global Management Studies, has worked with Nina Jovanovic, Master of Science in
Management student, to provide insights into this problem. Collaborating for this study was valuable since Dr. Zolfagharinia’s research
explores the mechanisms that can help trucking companies improve their operational efficiencies, while Jovanovic’s research extends
this context by considering a new dimension of efficiency that is based on environmental aspects.
In their study, Dr. Zolfagharinia and Jovanovic have applied the Theory of Planned Behaviour to explain the underlying motivational
mechanisms through which Canadian trucking firms can be encouraged to adopt sustainable operations. The obtained results can
therefore provide Canadian policymakers at provincial and federal levels with insights on how to design effective mechanisms to
encourage trucking firms to improve their green performance.
8 | Student/Faculty Collaboration
Exploring the Role of Virtual Reality in
Destination Image and Travel Behaviour Ms. Juleigh Giberson Dr. Tom Griffin
Bachelor of Commerce Assistant Professor
(BComm) Student Ted Rogers School of
Tourism is an intangible product, so trying to convince potential Ted Rogers School of Hospitality and Tourism Management
visitors of the experiences a destination offers is a challenge for Hospitality and Tourism Management
marketers. Virtual reality (VR) offers an immersive experience in a
virtual world, providing an opportunity for people to get a taste of
what a destination or experience is like.
With limited research in this area, Dr. Tom Griffin and student
researcher Juleigh Giberson were interested in exploring the role VR
plays in destination image and travel behaviour. Giberson, a BComm,
Hospitality and Tourism Management student, helped with all
aspects of the research process, sharing ideas, conducting literature
reviews and analysis and looking for interpretations and solutions.
The researchers studied the effect of VR in destination marketing
compared to other traditional mediums. They found that VR seemed
to establish more positive emotions towards the destination, with
respondents significantly more likely to talk about the destination with
their friends and family compared with those who watched 2D videos
and websites. The team also conducted a focus group on VR use
by millennials to see how they navigate through applications, select
videos and evaluate content.
“There are implications for destinations and others relating to the
engagement of people at different stages of their decision to travel,
from passively consuming imagery about a place, to a more active
stage of research once the decision to travel has been made, as well
as communicating with returned visitors who may enjoy nostalgic
reminders of past trips,” explains Dr. Griffin.
VR is still relatively young as a marketing tool and will change
dramatically over the next years and decades. Having a better
understanding of how the technology is being used, and identifying
the current and future implications for the travel industry and
destinations will help these groups adapt to the inevitable changes
that will come.
How Virtual Reality Impacts Time
Pressure and Patience
Is the future of virtual reality virtual retail?
Virtual reality (VR), a computer-based technology that
simulates a realistic experience, is increasingly being used in
the consumer marketplace, but the consequences of these
experiences for consumers have not been fully explored.
Dr. Seung Hwan (Mark) Lee has long been interested in the
opportunities and challenges presented by virtual reality and wanted to look at
how VR influences consumers’ time perception. “Since people are becoming
more immersed in VR, we should investigate whether they get lost in it. The more
unaware they are of their time perception, the better they can break away from
reality.” As the use and application of VR emerges, Dr. Lee hopes to be at the
forefront of generating buzz and excitement about the possibilities the technology
presents for the retail industry.
To kick-start his research, Dr. Lee partnered with Assistant Professor Dr. Rafay
Siddiqui from the Faculty of Business, Hong Kong Polytechnic University (FB
PolyU), through the TRSM-FB PolyU Joint Research Grant Program, to explore
the impact of VR experiences on consumers’ “felt time pressure” – the amount of
time consumers feel they have to complete their daily goals. The grant helped the
researchers acquire VR-related equipment and run multiple studies in Hong Kong
and Canada to compare 360-VR content to 2D-laptop content. Dr. Seung Hwan (Mark) Lee
Dr. Lee and Dr. Siddiqui found that the VR experience, compared to the same Associate Professor
Ted Rogers School of Retail Management
experience using a non-VR device, can reduce felt time pressure. This effect is (Above right)
driven by an increased sense of telepresence – the feeling of being physically
present in an alternative environment. They also found that an important Dr. Rafay A. Siddiqui
Assistant Professor, Marketing
downstream consequence of this effect is that consumers exhibit greater Faculty of Business, Hong Kong Polytechnic University
patience for delayed rewards. (Above left)
10 | International Collaboration
Dr. Dolores Añón Higón
Lecturer, Departamento de Estructura
Econòmica
Universitat de València
(Left)
Dr. Farid Shirazi
Dr. Roya Gholami Associate Professor
Ted Rogers School of Information
Associate Professor, Management Technology Management
Information Systems
University of Illinois Springfield
(Right)
International Collaboration | 11
New Zealand
Jamaica
Chile
Netherlands
Austria
Mexico
Norway
Trinidad & Tobago Australia
South Africa
Ireland
United States Brazil
Singapore
Germany
India Canada
Egypt
Turkey
Switzerland
Colombia
Bulgaria Croatia
Israel
Spain Pakistan
Romania
Sweden
France Italy
Denmark
United Kingdom
13
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Cukier, W. et al. (2016). Representing Women?
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Dixon, S.M., Nordvall, A., Cukier, W., & Neumann, W.P.
(2016). Young Consumers’ Considerations of Healthy
Working Conditions in Purchasing Decisions: A
Qualitative Examination. Ergonomics, 60(5), 601-612.
de Lange, D. & Dodds, R. (2017). Increasing
Sustainable Tourism Through Social Entrepreneurship.
International J. of Contemporary Hospitality
Management, 29(7), 1977-2002.
Shirazi, F. (PI). J.W. McConnell Family Foundation - Gruzd, A. Named as a Member of the College of Zihayat, M. Outstanding PhD Disseration Award -
RECODE Grant, “ICT and Environmental Sustainability: New Scholars, Artists and Scientists, Royal Society of Electrical Engineering and Computer Science, York
A Global Perspective,” $10,000. Canada. University.
Walsh, P.R. (PI). J.W. McConnell Family Foundation - Gunn, F., Lee, S.H., Cappuccitti, A., & Taylor, H. Best Zolfagharinia, H. 2017 Dean’s Scholarly, Research and
RECODE Grant, “Project Dago,” $10,000. Paper Award for “Profiling People’s Perceptions of Creative Activity Award, Ryerson University.
Retail Management Careers,” European Association for
Walsh, P.R. (PI). Mitacs Accelerate & Plug’n Drive,
Education and Research in Commercial Distribution.
“Driving Down GHG in Toronto: Factors Shaping
Electric Vehicle (EV) Ownership, Drive Patterns, and Lamb, D. 2016-17 TRSM Research Recognition ryerson.ca/trsm-research
Behaviours,” $15,000. Award, Ted Rogers School of Management at Ryerson
University.
Webb. K. (PI). Mitacs Accelerate & SAI Global,
“Examining the Evolving Environmental Protection Lebel, K. 2016 Distinguished Paper Award - Digital
Policy Convergence in the Ontario Municipal Water, Dilemmas Colloquium, University of Waterloo.
Wastewater, and Stormwater Sectors,” $15,000.
Niklaus Ashton
Research Support Specialist
Jill Rocha
Research Accounts Support Officer
Acknowledgements
Photography:
Mark Blinch
Editorial Support:
Debra Rughoo
Marketing and Communications,
Ted Rogers School of Management