Social and Behavioral Sciences Commons^™

Navigating Geopolitical Crises For Energy Security: Evaluating Optimal Subsidy Policies Via A Markov Switching Dsge Model, Ying Tung Chan, Maria Teresa Punzi, Hong Zhao

Sim Kee Boon Institute for Financial Economics

This paper aims to provide insights on the design of optimal subsidy policies to enhance energy security amidst energy disruptions triggered by geopolitical conflicts. We introduce a novel Markov switching dynamic stochastic general equilibrium (MS-DSGE) model to address the limitations of existing integrated assessment models in environmental evaluation. These models often fail to adequately consider the environmental and economic impacts of geopolitical conflicts and do not prioritize energy security sufficiently in policymaking. Our application of the MS-DSGE model to the Russia–Ukraine conflict reveals significant decreases in output, social welfare, and energy consumption during disruptions. The mere anticipation of an energy …

Local Institutional Investors And Corporate Monitoring: Evidence From Cross-Listed Korean Stocks In The Us Market, Changhwan Choi, Chune Young Chung, Jun Myung Song

Sim Kee Boon Institute for Financial Economics

Using Korean firms that are cross-listed in the US market, this paper investigates whether there are standalone effects of geographic and market proximity of institutional investors on monitoring performance. We find that Korean institutional ownership is negatively associated with earnings management while the US institutional ownership has no impact on earnings management. This suggests that there is the geographic proximity advantage over the market proximity advantage in the emerging markets. Furthermore, we also show that the impact of geographic proximity is stronger for firms with high informational opacity

Geographies Of Storage, Sayd Randle

Research Collection College of Integrative Studies

Resource storage has long played a key role in the production of socio-ecological arrangements and economic relations. Even so, storage as a concept has remained somewhat marginal within geographical scholarship, often obscured by an analytical focus on the dynamics of movement. Reviewing recent works from geography, science and technology studies, and anthropology that center sites and practices of storage, this essay elaborates the diverse ways in which storage arrangements mediate resource circulation and the production of space. This literature demonstrates that thinking systematically with storage can illuminate a range of novel temporal, material, and value entanglements in-the-making, pointing to potentially …

Impact Of A Covid-19 Related Lockdown On The Experience Of Informal Caregiving In Singapore, Vicky Mengqi Qin, Abhijit Visaria, Rahul Malhotra

ROSA Journal Articles and Publications

Introduction: Lockdowns, while limiting COVID-19 transmission, can affect provision of care by informal caregivers and their caregiving experience. We assessed, among informal caregivers in Singapore, (a) the perceived impact of a 2-month (April to May 2020) nationwide lockdown on their care provision, (b) correlates of different perceptions of the impact of the lockdown on care provision, and (c) association of different perceptions of the impact with negative and positive experiences of caregiving. Methods: In the August 2020 wave of the Singapore Life Panel (SLP; nationally representative, longitudinal monthly survey of Singapore citizens and permanent residents aged 50-70 years at baseline), …

The Gender Effects Of Covid: Evidence From Equity Analysts, Frank Weikai Li, Baolian Wang

Research Collection Lee Kong Chian School Of Business

We use COVID-19 and sell-side analysts as an experiment to study the effects of gender on labor productivity. We find that the forecast accuracy of female analysts declined more than that of male analysts, especially when schools were closed and among analysts who were more likely to have young children, were inexperienced, were busier, or lived in southern states of the US. Relative to male analysts, females also reduced their forecast timeliness and resorted to more heuristic forecasts but did not reduce coverage or updating frequency. Relative to pre pandemic, female analysts’ careers were more negatively affected than male analysts’. …

Geographic Links And Predictable Returns, Zuben Jin, Frank Weikai Li

Research Collection Lee Kong Chian School Of Business

Using establishment-level data of U.S. public firms, we construct a novel measure of geographic linkage between firms. We show that the returns of geography-linked firms have strong predictive power for focal firm returns and fundamentals. This effect is distinct from other cross-firm return predictability and is not easily attributable to risk-based explanations. It is more pronounced for focal firms that receive lower investor attention, are more costly to arbitrage, and during high sentiment periods. The cross-firm information spillovers and return predictability are also stronger for geographic peers with economic linkages and with positive information. Our results are broadly consistent with …

Managing The Personalized Order-Holding Problem In Online Retailing, Shouchang Chen, Zhenzhen Yan, Yun Fong Lim

Research Collection Lee Kong Chian School Of Business

Problem definition: A significant percentage of online consumers place consecutive orders within a short duration. To reduce the total order arrangement cost, an online retailer may consolidate consecutive orders from the same consumer. We investigate how long the retailer should hold the consumer’s orders before sending them to a third-party logistics provider (3PL) for processing. In this order-holding problem, we optimize the holding time to balance the total order arrangement cost and the potential delay in delivery. Methodology/results: We model the order-holding problem as a Markov Decision Process. We show that the optimal order-holding decisions follow a threshold-type policy that …

Shadow Bank, Risk-Taking, And Real Estate Financing: Evidence From The Online Loan Market, Xiaoying Deng, Chong Liu, Eng Seow Ong

Research Collection Lee Kong Chian School Of Business

This paper examines whether and how individual risk-taking behavior affects real estate financing through shadow banks. Using the loan data from an online platform in China, we show that riskier households tend to employ online loans to meet the increasing down-payment in their home purchase. Individual investors are likely to fund riskier real estate loans with higher expected returns. Real estate loans experience higher ex-post default rates than other types of loans. The effect is more pronounced during the period of credit constraints.

The Effects Of Language-Related Misunderstanding At Work, John Fiset, Devasheesh P. Bhave, Nilotpal Jha

Research Collection Lee Kong Chian School Of Business

Demographic, technological, and global trends have brought the language used at the workplace to the forefront. A growing body of research reveals that language could result in misunderstanding at work, and influence employees' performance and attitudinal outcomes. Language at work encompasses standard language (e.g., English) as well as several hybrid forms of language (non-native accents, code-switching, and jargon). We delineate how these forms of language could result in misunderstanding. We then identify relational, affective, and informational mechanisms that underlie the relationship between language-related misunderstanding and employees' performance and attitudinal outcomes, and highlight key boundary conditions. In doing so, we uncover …

Personality Dynamics Turn Positive And Negative Mood Into Creativity, Ronald Bledow, Jana Kuhnel, Julius Kuhl

Research Collection Lee Kong Chian School Of Business

Introduction: Research on the link between affect and creativity rests on the assumption that creativity unfolds as a stimulus-driven response to affective states. We challenge this assumption and examine whether personality dynamics moderate the relationship of positive and negative mood with creativity.Theoretical Model: According to our model, personality dynamics that generate and maintain positive affect and down-regulate negative affect energize creativity. Based on this model, we expect high creativity in response to negative mood if people engage in self-motivation and achieve a reduction in negative mood. We further derive that individual differences in action versus state orientation moderate the within-person …

Language-Related Misunderstanding At Work: What It Is, Why It Occurs And What Organizations Can Do About It, John Fiset, Devasheesh P. Bhave

Research Collection Lee Kong Chian School Of Business

Language is the foundation of human interaction. It plays a central role in facilitating effective communication by allowing people to express their thoughts, share essential information and establish connections with one another.

On Sgx’S Voyage To Corporate Sustainability: Exploring Emerging Topics In Multi-Industry Corpora, Xinwen Ni, Min Bin Lin, Simon J.D. Schillebeeckx, Wolfgang Karl Hardle

Research Collection Lee Kong Chian School Of Business

Topic modeling and LDA (Latent Dirichlet Allocation) have proven valuable in various fields as an innovative approach to studying areas of interest and identifying topics in a dynamic content. The underlying assumption is that techniques like LDA can swiftly capture emerging topics in textual documents compared to other categorization tools. These unsupervised approaches have been used to identify new industries and technological domains. However, our study on the nascent topic of “sustainability” within the corpora of SGX-listed companies highlights clear limitations in employing techniques like LDA on sparse data. The dynamic LDA approach, also called DTM (Dynamic Topic Modelling),based on …

Market For Manipulable Information, Hui Chen, Jian Sun

Research Collection Lee Kong Chian School Of Business

We study how investors, firms, and information sellers interact in a market with manipulable information. To better predict the firm characteristics they care about, investors can buy a score from a monopolistic information seller, which aggregates signals that are subject to firm manipulation. The average degree of signal manipulability has no effect on the equilibrium, while the uncertainty about manipulability becomes a new source of noise. Its contribution depends on firms' incentive to manipulate the signals, which in turn depends on the equilibrium price sensitivity to the score. The optimal design of the score weighs signal precision against the endogenous …

The Effects Of Leader Member Exchange Differentiation On Task Performance And Organizational Citizenship Behaviors, Junhui Gan

Dissertations and Theses Collection (Open Access)

This study delves into the intricate dynamics of Leader-Member Exchange (LMX) within working teams, with a specific focus on Leader-Member Exchange Differentiation (LMXD) and its subsequent impact on task performance and Organizational Citizenship Behaviors (OCB). Utilizing a comprehensive, multisource dataset comprising 394 employees across 120 store teams in three furnishing shopping malls in Zhejiang Province, China, this research employs a two-wave data collection methodology to examine the proposed theoretical model.

Contrary to prevailing assumptions in the LMX literature, this study reveals that LMXD does not significantly influence anticipated team conflict, nor does it exert indirect effects on task performance and …

Research On The Industrial Chain Network-Driven Innovation Model Of China's Audio-Visual Industry Park, Yang Chen

Dissertations and Theses Collection (Open Access)

This dissertation explores the model through which Chinese audio-visual industry parks drive innovation leveraging industrial chain networks, with Xing Guang Movie and Television Park as the core case study. It also integrates analyses of several other representative Chinese audio-visual industry parks. Based on these case analyses, it identifies critical elements essential for successful innovation within audio-visual industry parks driven by industrial chain networks, thereby providing a realistic foundation for the theoretical framework of the thesis.

Drawing on innovation theory, network theory, industrial chain network theory, and collaborative capability theory, this study abstracts the model driving innovation through industrial chain networks …

Smu Welcomes Two New Members To Its Board Of Trustees, Singapore Management University

SMU Press Releases

The Singapore Management University is pleased to announce the appointment of two new members to its Board of Trustees with effect from 12 January 2024. Their appointment will be for an initial term of three years. The new members are: (1) Dr Andrew David Hamilton – President Emeritus, New York University, (2) Mr Don Lam – Chief Executive Officer & Founding Partner, VinaCapital Group.

Smu Launches Urban Institute Focused On The Study Of Asian Cities, Singapore Management University

SMU Press Releases

As Asian cities urbanise at an unprecedented rate, urban policy-makers face the increasingly complex and pressing challenge of balancing urban growth with resilience and sustainability. With migration and the rapid flow of ideas online, old and new city-making practices have become uncomfortably entwined, resulting in contestation for space, resources, and municipal services. In response to megatrends that underscore the critical need to prioritise urban research, Singapore Management University (SMU) today launched the SMU Urban Institute (UI), a new research institute dedicated to multi- and inter-disciplinary research on cities in Asia. SMU UI will look beyond the development of infrastructure, and …

Subjective Socioeconomic Status Moderates How Resting Heart Rate Variability Predicts Pain Response, Jacinth Jia Xin Tan, Chin Hong Tan, Michael W. Kraus

Research Collection School of Social Sciences

Higher resting heart rate variability (HRV)—an index of more flexible response to environmental stressors, including noxious stimuli—has been linked to reduced perception of experimentally induced pain. However, as stress responses are adapted to one’s chronic environments, we propose that chronic exposure to threats captured by one’s subjective socioeconomic status (SSS) may shape different adaptations that produce distinct pain responses linked to higher resting HRV. Specifically, lower SSS individuals with more threat exposures may prioritize threat detection by upregulating sensitivity to stressors, such as acute pain. Therefore, higher HRV would predict greater perceived acute pain among lower SSS individuals. In contrast, …

The Compatibility Of The Substance Over Form Doctrine With Tax And Investment Treaties: A Case Study Of Lone Star V The Republic Of Korea, Blazej Kuzniacki

Research Collection School Of Accountancy

In late August 2022, the Lone Star tribunal concluded one of the latest awards in tax-related investment treaty disputes (the tax-related claims account for almost USD 1.5 billion of the total of almost USD 4.7 billion claimed in compensation). It also is the first award in which the tribunal dealt with the application of the substance over form doctrine (SOFD) by tax authorities and courts of the host state to prevent the abuse of a double tax treaty (DTT), and the impact of the refusal to accord the claimants the benefits under the DTT via a domestic (Korean) SOFD on …

Key Success Factors Of Strategic Transformation For Sino-French Cooperation In The Development Of Third-Party Markets In Africa, Bin Wang

Dissertations and Theses Collection (Open Access)

The most popular form of third-party market cooperation is an innovative international economic and trade cooperation model initiated by China under the context of the “Belt and Road” initiative nowadays. Although China and France, as non-state actors, have actively promoted trilateral cooperation and improved various agreements, the trilateral countries have not achieved effective resource complementarity due to differences in political and economic systems and goals, resulting in high complexity in the cooperation process.

Therefore, the research topic of this study is dedicated to addressing this pain point and assisting Chinese enterprises in leveraging third-party markets to expand overseas business under …

Expropriation Of Shares Via The Corporate Constitution, Stephen Bull

Research Collection Yong Pung How School Of Law

Company constitutions sometimes include powers to effect compulsory share acquisitions from members. Where these are introduced into the constitution after incorporation, the amendment, like all constitutional alterations, must be able to satisfy the common law “bona fide test” in order to be valid. The content of this test has been much debated since the first cases a century ago, and differences in view have emerged from the English and Australian courts. While there is no local case law on such expropriations per se, the High Court recently confirmed for the first time the applicability in Singapore of the common law …

A Causal Discovery Exploration Of Determinants Of Social Isolation, Barry Nuqoba, Kenneth Choo, Yi Wen Tan, William Tov

ROSA Research Briefs

In this report, we explore the potential causes of social isolation among older adults in Singapore using causal discovery. We found an inferred causal relationship between perceived helpfulness and social isolation, where older adults who perceived themselves as helpful were less likely to perceive themselves as socially isolated. Our study also found that perceived isolation and loneliness may be distinct concepts among older adults in Singapore, with loneliness being more likely to precede social isolation. Policy recommendations include promoting a sense of helpfulness through programs such as volunteering to reduce social isolation.

Rethinking The Inclusionary Potential Of Religious Institutions: The Case Of Gurdwaras In Singapore, Siew Ying Shee, Orlando Woods

Research Collection College of Integrative Studies

Whilst Singapore’s Sikh community is relatively small, it is also heterogeneous. Its diversity reflects differences in ancestral and socio-economic backgrounds. As spaces of worship that regularly bring together the Sikh community in space and time, Sikh temples—gurdwaras––are often conceived as important places through which a shared sense of religiously-defined community is reproduced. Yet, as much as religion can provide a bridge that integrates people of different ethnic, racial, national, and linguistic groups into a single faith community, so too can it act as a buttress through which differences and divisions are enforced within the community. We argue that whilst gurdwaras …

Trust: The Feature That Vending Machines And Atms Share, But Simplygo Lacks, Sun Sun Lim

Research Collection College of Integrative Studies

The article discussed the intricacies of trust in the SimplyGo debacle and highlighted how the design of physical interfaces like vending machines and ATMs and digital interfaces from apps like Grab, Parking.sg and ShopBack have critical features to instil trust. People need to be reassured that their transactions have proceeded as they should, and thay have not been short-changed.

Social Media And Performative Parenting, Sun Sun Lim, Yang Wang

Research Collection College of Integrative Studies

With the intensifying use of social media in many realms of everyday life, even parenting is manifesting a public dimension. Whereas one might regard parenting as a private activity undertaken within the home, the use of social media to highlight the joys and trials of child-rearing has put parenting under the digital spotlight. Parents are keen to showcase their children’s growth and development to family and friends. Significant achievements invite praise and social endorsement, as well as commendations for excellent parenting. The sharing of parenting struggles over social media can also elicit expressions of commiseration, sympathy and support. The ensuing …

Opening The Black Box Of Fitness Tracking: Understanding The Mechanisms Of Feedback In Motivating Physical Activity Among Older Singaporeans, Sapphire H. Lin, Rich Ling, Sonny Rosenthal

Research Collection College of Integrative Studies

This paper examines how older adults interact with fitness trackers and how that interaction influences their physical activity. We carried out qualitative interviews with 22 individuals between the ages of 55 and 72 who had used fitness trackers as part of a six-week field experiment investigating the effects of feedback from fitness trackers and the social influence of their spouses. From their comments, we derived an explorative process model explaining the mechanisms and the four stages of effects arising from personalised feedback, namely, cognitive, affective, conative, and intuitive. These effects were grouped into internal and external dimensions. Three types of …

Optimal Nonparametric Range-Based Volatility Estimation, Tim Bollerslev, Jia Li, Qiyuan Li

Research Collection School Of Economics

We present a general framework for optimal nonparametric spot volatility estimation based on intraday range data, comprised of the first, highest, lowest, and last price over a given time-interval. We rely on a decision-theoretic approach together with a coupling-type argument to directly tailor the form of the nonparametric estimator to the specific volatility measure of interest and relevant loss function. The resulting new optimal estimators offer substantial efficiency gains compared to existing commonly used range-based procedures.

High-Dimensional Iv Cointegration Estimation And Inference, Peter C. B. Phillips, Igor L. Kheifets

Research Collection School Of Economics

A semiparametric triangular systems approach shows how multicointegrating linkages occur naturally in an I(1) cointegrated regression model when the long run error variance matrix in the system is singular. Under such singularity, cointegrated I(1) systems embody a multicointegrated structure that makes them useful in many empirical settings. Earlier work shows that such systems may be analyzed and estimated without appealing to the associated I(2) system but with suboptimal convergence rates and potential asymptotic bias. The present paper develops a robust approach to estimation and inference of such systems using high dimensional IV methods that have appealing asymptotic properties like those …

Statistical Discrimination And Duration Dependence In A Semistructural Model, Ismail Baydur, Jianhuan Xu

Research Collection School Of Economics

This article develops a job-search model with unobserved worker heterogeneity and learning about worker types from unemployment duration. The model features negative duration dependence that stems from unobserved heterogeneity, skill depreciation, and statistical discrimination. We estimate job-finding rates implied by our model using microlevel data from the Current Population Survey. We find that removing interview costs counterfactually, thereby eliminating statistical discrimination, substantially increases the job-finding rates of the long-term unemployed. The performance of low-skill workers at the interview stage with discriminating firms plays a key role in explaining our counterfactual result.

Cooperative Trucks And Drones For Rural Last-Mile Delivery With Steep Roads, Jiuhong Xiao, Ying Li, Zhiguang Cao, Jianhua Xiao

Research Collection School Of Computing and Information Systems

The cooperative delivery of trucks and drones promises considerable advantages in delivery efficiency and environmental friendliness over pure fossil fuel fleets. As the prosperity of rural B2C e-commerce grows, this study intends to explore the prospect of this cooperation mode for rural last-mile delivery by developing a green vehicle routing problem with drones that considers the presence of steep roads (GVRPD-SR). Realistic energy consumption calculations for trucks and drones that both consider the impacts of general factors and steep roads are incorporated into the GVRPD-SR model, and the objective is to minimize the total energy consumption. To solve the proposed …