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Articles 6451 - 6480 of 8026

Full-Text Articles in Social and Behavioral Sciences

Bayesian Analysis Of Country Risk Premia In Developing Small Open Economies, Seigmund Vincent Roque Conti Jan 2010

Bayesian Analysis Of Country Risk Premia In Developing Small Open Economies, Seigmund Vincent Roque Conti

Dissertations and Theses Collection (Open Access)

This thesis studies a model presented by Neumeyer & Perri (2005), which aims to explain the strong countercyclicality of interest rates and net exports in emerging market economies. The model accomplishes this by decomposing interest rates into an international rate and a country risk component, and by making labor demand sensitive to movements in these rates via a working capital constraint imposed on the representative firm. Moreover, it proposes two approaches to determining the stochastic processes for these interest rates: the independent country risk case and the induced country risk case. The induced country risk model calibrated to Argentine data …

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The Impact Of Monetary Policy Announcements On Stock Market: Evidence From China, Yu Zeng Jan 2010

The Impact Of Monetary Policy Announcements On Stock Market: Evidence From China, Yu Zeng

Dissertations and Theses Collection (Open Access)

In this paper we examine how stock returns in China respond to monetary policy announcements made by PBC in a short term around announcement day. We employ a nonparametric event-study method to investigate such reactions. We arrive at the following conclusions. Firstly, there is information leakage of monetary policy changes, which is verified by significant changes in stock returns before monetary policy announcement and quitness of stock market after announcement. Secondly, financially constrained and financially unconstrained firms respond quite similarly to monetary policy shocks, which disobeys credit channel of monetary policy transmission in the short run. Thirdly, reserve ratio changes …

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Language Learning Interest At A New Management University In Multilingual Singapore, Glenn Wharton Jan 2010

Language Learning Interest At A New Management University In Multilingual Singapore, Glenn Wharton

Research Collection Lee Kong Chian School Of Business

The purpose of this article is fourfold: first, to report on a university-wide survey assessing demand among bilingual undergraduates for foreign language study in a management university in Singapore; second, to determine those factors influencing students' foreign language choice and also those influencing decisions not to pursue foreign language study; third, to discuss how the results contribute to curricular planning for foreign language provision; and fourth, to provide readers with a non-U.S. or European perspective on the issues of foreign language learning interest and choice. Using an online survey, results from 708 respondents indicated that, although already bilingual, an overwhelming …

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Work-Family Conflict In Work Groups: Social Information Processing, Support, And Demographic Dissimilarity, Devasheesh P. Bhave, Amit Kramer, Theresa G. Glomb Jan 2010

Work-Family Conflict In Work Groups: Social Information Processing, Support, And Demographic Dissimilarity, Devasheesh P. Bhave, Amit Kramer, Theresa G. Glomb

Research Collection Lee Kong Chian School Of Business

We used social information processing theory to examine the effect of work-family conflict (WFC) at the work group level on individuals' experience of WFC. Consistent with hypotheses, results suggest that WFC at the work group level influences individual WFC over and above the shared work environment and job demands. It was also observed that work group support and demographic dissimilarity moderate this relationship. Moderator analyses suggest that work group social support buffers WFC for individuals but is also associated with a stronger effect of work group WFC on individuals' WFC. Moreover, the work group effect on individuals' WFC was shown …

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How Predictable Is The Chinese Stock Market?, Fuwei Jiang Jan 2010

How Predictable Is The Chinese Stock Market?, Fuwei Jiang

Dissertations and Theses Collection (Open Access)

We analyze return predictability for the Chinese stock market, including the aggregate market portfolio and the components of the aggregate market, such as portfolios sorted on industry, size, book-to-market and ownership concentration. Considering a variety of economic variables as predictors, both in-sample and out-of-sample tests highlight significant predictability in the aggregate market portfolio of the Chinese stock market and substantial differences in return predictability across components. Among industry portfolios, Finance and insurance, Real estate, and Service exhibit the most predictability, while portfolios of small-cap and low ownership concentration firms also display considerable predictability. Two key findings provide economic explanations for …

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Aircraft Leasing With Contracts, Qiong Zuo Jan 2010

Aircraft Leasing With Contracts, Qiong Zuo

Dissertations and Theses Collection (Open Access)

We study a problem of rental rate pricing and rental contract designing in aircraft leasing industry. In a framework of Stackelberg game, the system is composed of an airline company (carrier) and an aircraft leasing company (lessor). Acting as the leader, the lessor announces daily rental rates and/or provides long-term contracts on a finite horizon with multiple periods. For each period, the carrier determines the aircraft leasing number to adjust the flight capacity, and applies a dynamic pricing policy for air-tickets based on a seasonally stochastic demand and some economic factor, such as oil price. We find the optimal policies …

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Ownership Structure, Financial Structure And R&D Investment: Evidence From Korean Firms, Yanghua Chen Jan 2010

Ownership Structure, Financial Structure And R&D Investment: Evidence From Korean Firms, Yanghua Chen

Dissertations and Theses Collection (Open Access)

Understanding factors that can enhance a firm‟s innovativeness is of critical concern in management research. Prior studies in strategy and financial economics have advanced our understanding of how resource allocation into innovation is shaped in a firm, mainly from the perspectives of ownership and financial structures. However, the extant literature is incomplete, because it treats ownership and financial structures as separate determinants, even though theoretical arguments and empirical evidences suggest that they are interdependent. This study investigates the determinants of firm‟s R&D investments by bridging ownership and financial structures. Ownerships held by inside and external owners are considered for ownership …

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Procure Financing For Shipping By Auctions, Kekun Wu Jan 2010

Procure Financing For Shipping By Auctions, Kekun Wu

Dissertations and Theses Collection (Open Access)

We study a risk management problem in the scenario of ship procurement. A shipping firm faces a certain financing pressure for the procurement of a new ship. On the other hand, the capacity of the ship excesses the demand requirement of the firm. The firm wants to reduce the payment and control the risk by selling a percentage of capacity to another shipping company. We introduce an auction mechanism for the firm to select the partner and determine the sharing percentage. Acting as the auctioneer, the firm announces a certain percentage of capacity to a set of buyers. The payment …

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Monetary Policies In A Small Open Economy Model With Labor Mobility And Remittances, Diana Rose Del Rosario Jan 2010

Monetary Policies In A Small Open Economy Model With Labor Mobility And Remittances, Diana Rose Del Rosario

Dissertations and Theses Collection (Open Access)

This paper presents a model of a small open economy that allows for international labor mobility, thereby endogenizing migrant transfers or remittances. The resulting model is calibrated to the Philippine economy, of which labor migration and remittance inflows are key forces that drive the economy’s growth. The model’s impulse response functions illustrate that the presence of these features generates a different set of dynamics from the standard small open economy model (without labor mobility). Depending on the source of the shock, labor mobility and remittances can either exacerbate or cushion the impact of the shock on the economy. A temporary …

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Firm And Industry Characteristics Of Exchange Rate Exposure And Optimal Hedging Strategy: Evidence On China, Fen Yan Jan 2010

Firm And Industry Characteristics Of Exchange Rate Exposure And Optimal Hedging Strategy: Evidence On China, Fen Yan

Dissertations and Theses Collection (Open Access)

Understanding the effect of foreign exchange rate movements on the value of firm is a critical element for the purpose of risk management. In this thesis, firm and industry specific exposures to exchange rate movements in the Chinese market before and after the exchange rate regime reform in 2005 are examined. We observe that at the one-week return horizon, among all the firms listed in the China Exchange Market before the year 2001, less than 10% of the firms exhibit significant "residual exposure" to bilateral exchange rate movements against China’s major trading partners before the reform. In contrast, the proportion …

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Corporate Social Responsibility And The Legal Profession, Eugene K. B. Tan Jan 2010

Corporate Social Responsibility And The Legal Profession, Eugene K. B. Tan

Research Collection Yong Pung How School Of Law

No abstract provided.

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The Constructive Trust In Singapore: Five Persistent Puzzles, Hang Wu Tang Jan 2010

The Constructive Trust In Singapore: Five Persistent Puzzles, Hang Wu Tang

Research Collection Yong Pung How School Of Law

This paper investigates some persistent difficulties surrounding the constructive trust. The five persistent puzzles relating to the constructive trust that are considered in this paper are: the terminology puzzle, the institutional and remedial puzzle, the explanatory puzzle, the bankruptcy puzzle and the Torrens puzzle. It is the author’s thesis that these five enduring puzzles must be addressed and ultimately unravelled in order to ensure the coherent development of the law in this area.

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Functional Coefficient Estimation With Both Categorical And Continuous Data, Liangjun Su, Ye Chen, Aman Ullah Jan 2010

Functional Coefficient Estimation With Both Categorical And Continuous Data, Liangjun Su, Ye Chen, Aman Ullah

Research Collection School Of Economics

We propose a local linear functional coefficient estimator that admits a mix of discrete and continuous data for stationary time series. Under weak conditions our estimator is asymptotically normally distributed. A small set of simulation studies is carried out to illustrate the finite sample performance of our estimator. As an application, we estimate a wage determination function that explicitly allows the return to education to depend on other variables. We find evidence of the complex interacting patterns among the regressors in the wage equation, such as increasing returns to education when experience is very low, high return to education for …

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The National Innovation System Of Singapore, Winston T. H. Koh, Phillip Phan Jan 2010

The National Innovation System Of Singapore, Winston T. H. Koh, Phillip Phan

Research Collection School Of Economics

No abstract provided.

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Obedience, Schooling, And Political Participation, Davin Chor, Filipe R. Campante Jan 2010

Obedience, Schooling, And Political Participation, Davin Chor, Filipe R. Campante

Research Collection School Of Economics

This paper proposes a framework for understanding the joint evolution of cultural norms and human capital investment, and how these affect patterns of political participation. We first present some empirical evidence that cultural attitudes towards obedience systematically influence an individual's propensity to engage in different political activities: obedience discourages more confrontational modes of political activity (such as public demonstrations), while raising participation in non-confrontational civic acts (such as voting). These cultural attitudes further appear to be determined in part by cultural transmission across generations. Motivated by this evidence, we develop a dynamic model in which human capital and obedience are …

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Nonparametric Tests For Poolability In Panel Data Models With Cross Section Dependence, Sainan Jin, Liangjun Su Jan 2010

Nonparametric Tests For Poolability In Panel Data Models With Cross Section Dependence, Sainan Jin, Liangjun Su

Research Collection School Of Economics

In this paper we propose a nonparametric test for poolability in large dimensional semiparametric panel data models with cross-section dependence based on the sieve estimation technique. To construct the test statistic, we only need to estimate the model under the alternative. We establish the asymptotic normal distributions of our test statistic under the null hypothesis of poolability and a sequence of local alternatives, and prove the consistency of our test. We also suggest a bootstrap method as an alternative way to obtain the critical values and justify its validity. A small set of Monte Carlo simulations indicate the test performs …

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Estimation Of High-Frequency Volatility: An Autoregressive Conditional Duration Models Approach, Yiu Kuen Tse, Tao Yang Jan 2010

Estimation Of High-Frequency Volatility: An Autoregressive Conditional Duration Models Approach, Yiu Kuen Tse, Tao Yang

Research Collection School Of Economics

We propose a method to estimate the intraday volatility of a stock by integrating the instantaneous conditional return variance per unit time obtained from the autoregressive conditional duration (ACD) models. We compare the daily volatilities estimated using the ACD models against several versions of the realized volatility (RV) method, including the bipower variation realized volatility with subsampling, the realized kernel estimate and the duration-based realized volatility. The ACD volatility estimates correlate highly with and perform very well against the RV estimates. Our Monte Carlo results show that our method has lower root mean-squared error than the RV methods in most …

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Numerical Analysis Of Non-Constant Pure Rate Of Time Preference: A Model Of Climate Policy, Tomoki Fujii, Larry Karp Jan 2010

Numerical Analysis Of Non-Constant Pure Rate Of Time Preference: A Model Of Climate Policy, Tomoki Fujii, Larry Karp

Research Collection School Of Economics

When current decisions affect welfare in the far-distant future, as with climate change, the use of a declining pure rate of time preference (PRTP) provides potentially important modeling flexibility. The difficulty of analyzing models with non-constant PRTP limits their application. We describe and provide software (available online) to implement an algorithm to numerically obtain a Markov perfect equilibrium for an optimal control problem with non-constant PRTP. We apply this software to a simplified version of the numerical climate change model used in the Stern Review. For our calibration, the policy recommendations are less sensitive to the PRTP than widely believed.

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Managing Capital Flows: The Case Of Singapore, Hwee Kwan Chow Jan 2010

Managing Capital Flows: The Case Of Singapore, Hwee Kwan Chow

Research Collection School Of Economics

The resurgence of private capital inflows into Asia in recent years has raised the question of whether the region is susceptible to yet another financial crisis. While a sudden large-scale reversal of capital flows is not likely to result in a liquidity crunch or balance of payments crisis, the attendant sharp corrections in asset prices will have an adverse impact on the economy particularly through indirect channels. We present, in this study, Singapore’s experience in managing the risks posed by capital flows as well as the retention of control over exchange rates and monetary conditions. It is the overall package …

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Forecasting Realized Volatility Using A Nonnegative Semiparametric Time Series Model, A. Eriksson, D. Preve, Jun Yu Jan 2010

Forecasting Realized Volatility Using A Nonnegative Semiparametric Time Series Model, A. Eriksson, D. Preve, Jun Yu

Research Collection School Of Economics

This paper introduces a parsimonious and yet flexible nonnegative semiparametric model to forecast financial volatility. The new model extends the linear nonnegative autoregressive model of Barndorff-Nielsen & Shephard (2001) and Nielsen & Shephard (2003) by way of a power transformation. It is semiparametric in the sense that the distributional form of its error component is left unspecified. The statistical properties of the model are discussed and a novel estimation method is proposed. Asymptotic properties are established for the new estimation method. Simulation studies validate the new estimation method. The out-of-sample performance of the proposed model is evaluated against a number …

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Customer Satisfaction Index Of Singapore: Executive Summary 2009, Institute Of Service Excellence, Smu Jan 2010

Customer Satisfaction Index Of Singapore: Executive Summary 2009, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence (2007-2024)

Since 2007, customer satisfaction from the consumption of products and services in 8 key economic sectors of Singapore were measured and scores released annually through the Customer Satisfaction Index of Singapore (CSISG). Currently the CSISG is undergoing a transition from an annual to quarterly release of results. CSISG results of 6 economic sectors were released in October 2009. The release of results for the 2 remaining sectors: Healthcare, and Finance & Insurance, and an update to the national score concludes the measurement for 2009. Starting from 2010, CSISG company, subsector, and sector scores will be updated quarterly, on a rolling …

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The Beginning Of The End? Agricultural Modernization And Dissolution Of The Peasantry In Contemporary China, Qian Forrest Zhang, John A. Donaldson Jan 2010

The Beginning Of The End? Agricultural Modernization And Dissolution Of The Peasantry In Contemporary China, Qian Forrest Zhang, John A. Donaldson

Research Collection School of Social Sciences

No abstract provided.

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Enhancing Income Opportunities, Rashiel Verlarde, Tomoki Fujii, Ulrich Lächler Jan 2010

Enhancing Income Opportunities, Rashiel Verlarde, Tomoki Fujii, Ulrich Lächler

Research Collection School Of Economics

Accelerating growth is essential for poverty reduction. As argued earlier, poverty has failed to decline significantly since the East Asian Crisis due to insufficiently dynamic growth, a high degree of income inequality that reduces the income elasticity of poverty reduction, and an apparent worsening of the income distribution. The first step toward addressing this failure is to accelerate growth, which will not be easy in the short run while the global slowdown continues to run its course. Moreover, even though the global crisis is gradually bottoming out, the post-crisis external environment is likely to be much less favorable than before, …

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Conversations With A Crime Boss: Doing Asian Criminal Business, Nafis Hanif, Mark Findlay Jan 2010

Conversations With A Crime Boss: Doing Asian Criminal Business, Nafis Hanif, Mark Findlay

Research Collection School of Social Sciences

Media piracy, in Malaysia, is organised through illicit negotiations between a dominant crime syndicate and consumers, street-corner gang leaders, the Malaysian police, custom officers and directors of the Malaysian Film Censorship Board. These key social actors who crossover class, race, religion, gang membership, and bridge porous legitimate and illegitimate commercial and political sectors of society establish a mutually collaborative relationship by negotiating their asymmetrical social capital, according to a conventional cost-benefit analysis. Contextual analyses of these illicit interactions identify criminal enterprise opportunities and plot the interactive progress of enterprise as it unfolds, against models of organisational and functional inter-connection. The …

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Testing Linearity In Cointegrating Relations With An Application To Purchasing Power Parity, Seong Hyun Hong, Peter C. B. Phillips Jan 2010

Testing Linearity In Cointegrating Relations With An Application To Purchasing Power Parity, Seong Hyun Hong, Peter C. B. Phillips

Research Collection School Of Economics

This article shows that when applied to nonstationary time series, the conventional Regression Error Specification Test (RESET) leads to severe size distortion and its asymptotic distribution involves a mixture of noncentral chi(2) distributions. Nonstationarity introduces bias terms in the limit distribution, and appropriate corrections for the bias are presented leading to a modified RESET test that has a central chi(2) limit distribution. In simulations, this modified test is shown to have power not only against nonlinear cointegration but also against the absence of cointegration. In an empirical illustration, the linear purchasing power parity (PPP) specification is tested using five Organization …

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The Islamists Are Not Coming, Charles Kurzman, Ijlal Naqvi Jan 2010

The Islamists Are Not Coming, Charles Kurzman, Ijlal Naqvi

Research Collection School of Social Sciences

Do Muslims automatically vote Islamic? That's the concern conjured up by strongmen from Tunis to Tashkent, and plenty of Western experts agree. They point to the political victories of Islamc parties in Egypt, Palestine, and Turkey in recent years and warn that more elections across the Islamic world could turn power over to anti-democratic fundamentalists.

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Wrongful Convictions In Singapore: A General Survey Of Risk Factors, Siyuan Chen, Eunice Chua Jan 2010

Wrongful Convictions In Singapore: A General Survey Of Risk Factors, Siyuan Chen, Eunice Chua

Research Collection Yong Pung How School Of Law

This article seeks to raise awareness about the potential for wrongful convictions in Singapore by analysing the factors commonly identified as contributing towards wrongful convictions in other jurisdictions, including institutional failures and suspect evidence. It also considers whether the social conditions in Singapore are favourable to discovering and publicising wrongful convictions. The authors come to the conclusion that Singapore does well on a number of fronts and no sweeping reforms are necessary However there are areas of risk viz the excessive focus on crime control rather than due process, which require some tweaking of the system.

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From ‘Made In China’ To ‘Sold In China’, Henry S. Gao Jan 2010

From ‘Made In China’ To ‘Sold In China’, Henry S. Gao

Research Collection Yong Pung How School Of Law

Two years ago, I wrote about a special program called ‘Made in China’, produced by CNN in the wake of the tainted milk scandal. Last month, CNN started to air another ‘Made in China’ program. No it is not that the last program was so popular that they want to bring it back. Instead the new one is a thirty second commercial rumored to have been financed by China’s Ministry of Commerce (who later denied this) in an effort to promote Chinese products.

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Antecedents Of Supervisor Trust In Collectivist Cultures: Evidence From Turkey And China, S. Arzu Wasti, Hwee Hoon Tan Jan 2010

Antecedents Of Supervisor Trust In Collectivist Cultures: Evidence From Turkey And China, S. Arzu Wasti, Hwee Hoon Tan

Research Collection Lee Kong Chian School Of Business

The premise of much research on dyadic trust building within organizations has been framed around the relationship as it emerges in the work context. Such models, including the seminal Mayer et al. (1995) model of dyadic trust, have been applied to contexts outside North America without a careful understanding of the distribution of social practices and everyday situations in such contexts. This chapter examines culture-specific workways as a starting point for understanding subordinates’ trust in their supervisors in collectivist cultures. Workways refer to the pattern of workplace beliefs, mental models and practices about what is true, good and efficient within …

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The Right To Survival In The Democratic People’S Republic Of Korea, Jiyoung Song Jan 2010

The Right To Survival In The Democratic People’S Republic Of Korea, Jiyoung Song

Research Collection School of Social Sciences

For the past decade, the author has examined North Korean primary public documents and concludes that there have been changes of identities and ideas in the public discourse of human rights in the DPRK: from strong post-colonialism to Marxism-Leninism, from there to the creation of Juche as the state ideology and finally 'our style' socialism. This paper explains the background to KIM Jong Il's 'our style' human rights in North Korea: his broader framework, 'our style' socialism, with its two supporting ideational mechanisms, named 'virtuous politics' and 'military-first politics'. It analyses how some of these characteristics have disappeared while others …

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