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Articles 7021 - 7050 of 8025

Full-Text Articles in Social and Behavioral Sciences

Perceived Cultural Importance And Actual Self-Importance Of Values In Cultural Identification, Ching Wan, Chi-Yue Chiu, Kim-Pong Tam, Sau-Lai Lee, Ivy Yee-Man Lau, Siqing Peng Feb 2007

Perceived Cultural Importance And Actual Self-Importance Of Values In Cultural Identification, Ching Wan, Chi-Yue Chiu, Kim-Pong Tam, Sau-Lai Lee, Ivy Yee-Man Lau, Siqing Peng

Research Collection School of Social Sciences

Cross-cultural psychologists assume that core cultural values define to a large extent what a culture is. Typically, core values are identified through an actual self-importance approach, in which core values are those that members of the culture as a group strongly endorse. In this article, the authors propose a perceived cultural importance approach to identifying core values, in which core values are values that members of the culture as a group generally believe to be important in the culture. In 5 studies, the authors examine the utility of the perceived cultural importance approach. Results consistently showed that, compared with values …

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Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su Feb 2007

Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su

Research Collection School Of Economics

We study the application of the Solow growth model in China's non-governmental businesses and propose a reasonable modification for it. Our analysis indicates that business experience is closely tied to the output of China's non-governmental businesses. Our major findings include: (1) the business experience has little overall impact on the elasticity of output with respect to labour; (2) the business experience has a large impact on the elasticity of output with respect to capital and the elasticity increases as the business experience increases; (3) the adjusted Solow residual that reflects technological progress exhibits a negative relationship with the business experience, …

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Monotonicity Conditions And Inequality Imputation For Sample-Selection And Non-Response Problems, Myoung-Jae Lee Feb 2007

Monotonicity Conditions And Inequality Imputation For Sample-Selection And Non-Response Problems, Myoung-Jae Lee

Research Collection School Of Economics

Under a sample selection or non-response problem, where a response variable y is observed only when a condition δ = 1 is met, the identified mean E(y|δ = 1) is not equal to the desired mean E(y). But the monotonicity condition E(y|δ = 1) ≤ E(y|δ = 0) yields an informative bound E(y|δ = 1) ≤ E(y), which is enough for certain inferences. For example, in a majority voting with δ being the vote-turnout, it is enough to know if E(y) > 0.5 or not, for which E(y|δ = 1) > 0.5 is sufficient under the monotonicity. The main question is then …

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Two New Lessons From Asian Miracles, Hing-Man Leung Feb 2007

Two New Lessons From Asian Miracles, Hing-Man Leung

Research Collection School Of Economics

Four Asian economies – Hong Kong, Singapore, Korea and Taiwan – have grown at spectacular speeds adopting different strategies. Past debates focused on their growth takeoff. The present paper studies their future outlook. As an economy matures, sustaining economic performance requires innovation and technology upgrading. Hong Kong, under a minimalist administration, is now critically deficient in technology. Singapore, dependent on foreign multinationals, is struggling to become a creator and not just a user of technology. We seek to explain why Hong Kong and Singapore are so much less innovative than Korea and Taiwan.

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Marketing The Chinese Dream Home: Gated Communities And Representations Of The Good Life In (Post-)Socialist Shanghai, Choon-Piew Pow, Lily Kong Feb 2007

Marketing The Chinese Dream Home: Gated Communities And Representations Of The Good Life In (Post-)Socialist Shanghai, Choon-Piew Pow, Lily Kong

Research Collection School of Social Sciences

This paper examines the advertising themes and rhetoric that have been assembled in the place-marketing of Shanghai's newly built gated communities. We demonstrate how place-marketing strategies, in this case selling the Chinese dream home, draws upon specific landscape meanings and values that are embedded in Chinese/ Shanghainese history, even as symbolic and cultural capital from the contemporary scene also exert their influences. Collectively, these representations of the good life both reflect and reinforce the exclusivist housing aspirations and privatist visions of middle-class residents of gated communities in contemporary Shanghai. While advertisements do not always achieve the outcomes that property developers …

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What Do People Desire In Others? A Sociofunctional Perspective On The Importance Of Different Valued Characteristics, Catherine A. Cottrell, Steven L. Neuberg, Norman P. Li Feb 2007

What Do People Desire In Others? A Sociofunctional Perspective On The Importance Of Different Valued Characteristics, Catherine A. Cottrell, Steven L. Neuberg, Norman P. Li

Research Collection School of Social Sciences

Humans, as discriminately social creatures, make frequent judgments about others' suitability for interdependent social relations. Which characteristics of others guide these judgments and, thus, shape patterns of human affiliation? Extant research is only minimally useful for answering this question. On the basis of a sociofunctional analysis of human sociality, the authors hypothesized that people highly value trustworthiness and (to a lesser extent) cooperativeness in others with whom they may be interdependent, regardless of the specific tasks, goals, or functions of the group or relationship, but value other favorable characteristics (e.g., intelligence) differentially across such tasks, goals, or functions. Participants in …

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Terrorism And Relative Justice, Mark Findlay Feb 2007

Terrorism And Relative Justice, Mark Findlay

Research Collection Yong Pung How School Of Law

Terrorist violence and violent justice responses have much in common. While contextually dependant, both forms of violence lay claim to contested legitimacies. The relationships between terrorism and justice responses require both theoretical and empirical examination if the prospects for controlling the violence they perpetrate is to be sharpened.

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The Constitutionality Of The President To Hold Another Office Act, 2004: A View From India, Shubhankar Dam Jan 2007

The Constitutionality Of The President To Hold Another Office Act, 2004: A View From India, Shubhankar Dam

Research Collection Yong Pung How School Of Law

No abstract provided.

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Pakistani Supreme Court And Constitutional Space, Shubhankar Dam Jan 2007

Pakistani Supreme Court And Constitutional Space, Shubhankar Dam

Research Collection Yong Pung How School Of Law

No abstract provided.

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In Defence Of The Supreme Court: A Conservative View, Shubhankar Dam Jan 2007

In Defence Of The Supreme Court: A Conservative View, Shubhankar Dam

Research Collection Yong Pung How School Of Law

No abstract provided.

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Singapore Management University Report To Stakeholders 2007 - 2008, Singapore Management University Jan 2007

Singapore Management University Report To Stakeholders 2007 - 2008, Singapore Management University

Report to Stakeholders

In less than a decade, SMU has established a reputation for pushing the boundaries of innovation, creativity and academic excellence in many of the ways envisioned when the university was first conceived in 1998. The University introduced a pedagogy previously unseen in Singapore, and has shown how a broad-based education and interactive teaching environment produces graduates well-prepared for the demands of the real world.

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New School Of Law At Smu To Add Diversity In Legal Education, Singapore Management University Jan 2007

New School Of Law At Smu To Add Diversity In Legal Education, Singapore Management University

SMU Press Releases

No abstract provided.

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Report Of The Social Enterprise Committee, Lien Centre For Social Innovation Jan 2007

Report Of The Social Enterprise Committee, Lien Centre For Social Innovation

Lien Centre for Social Innovation: Research

Social entrepreneurs and social enterprises are an innovative alternative to provide employment opportunities for needy disadvantaged Singaporeans to mitigate the effects of the widening income gap. Still in its infancy stage, the social entrepreneurship and social enterprise sector faces challenges that are unique to Singapore due to its size, open economy and relative competitiveness.

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Regional Trade Agreements Revisited, Hui Chin Tan Jan 2007

Regional Trade Agreements Revisited, Hui Chin Tan

Dissertations and Theses Collection (Open Access)

The gravity model is a workhorse for econometric studies of the impact of regional trade agreements (RTAs). Despite its initial lack of theoretical basis, the model has been successfully derived from various trade theories. The latest theoretical derivation by Anderson and van Wincoop (2003) reveals that prior gravity studies have made the critical error of omitting the multilateral resistance variable, which results in biased estimates. Other recent studies have highlighted empirical issues with the commonly used procedure of log-linearizing the gravity model and estimating the parameters using Ordinary Least Squares (OLS) regression. Silva and Tenreyro (2006) point out that this …

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To Use Or Not To Use?: Poverty Mapping In Cambodia, Tomoki Fujii Jan 2007

To Use Or Not To Use?: Poverty Mapping In Cambodia, Tomoki Fujii

Research Collection School Of Economics

No abstract provided.

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Temporal Aggregation And Risk-Return Relation, Jin Xing, Leping Wang, Jun Yu Jan 2007

Temporal Aggregation And Risk-Return Relation, Jin Xing, Leping Wang, Jun Yu

Research Collection School Of Economics

The function form of a linear intertemporal relation between risk and return is suggested by Merton's [1973. Econometrica 41, 867–887] analytical work for instantaneous returns, whereas empirical studies have examined the nature of this relation using temporally aggregated data, i.e., daily, monthly, quarterly, or even yearly returns. Our paper carefully examines the temporal aggregation effect on the validity of the linear specification of the risk–return relation at discrete horizons, and on its implications on the reliability of the resulting inference about the risk–return relation based on different observation intervals. Surprisingly, we show that, based on the standard Heston's [1993. Review …

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Open Vs Sealed Bid Auctions: Testing For Revenue Equivalence Under Singapore's Vehicle Quota System, Roberto S. Mariano, Winston T. H. Koh, Yiu Kuen Tse Jan 2007

Open Vs Sealed Bid Auctions: Testing For Revenue Equivalence Under Singapore's Vehicle Quota System, Roberto S. Mariano, Winston T. H. Koh, Yiu Kuen Tse

Research Collection School Of Economics

Using data from the auction of vehicle quota licenses in Singapore, we study if revenue equivalence holds when the auction format was switched from a sealed-bid format (May 1990 to June 2001) to an open bidding format since July 2001. Our econometric analysis indicates the change in auction format led to a change in bidding behavior. On average, the quota license premium under the open bidding format is about US$1000 (about 7.5% of the Category E license price in June 2001) lower, compared to the forecast level that would have prevailed if there had been no change in the auction …

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Indirect Inference For Dynamic Panel Models, Christian Gourieroux, Peter C. B. Phillips, Jun Yu Jan 2007

Indirect Inference For Dynamic Panel Models, Christian Gourieroux, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

Maximum likelihood (ML) estimation of the autoregressive parameter of a dynamic panel data model with fixed effects is inconsistent under fixed time series sample size and large cross section sample size asymptotics. This paper proposes a general, computationally inexpensive method of bias reduction that is based on indirect inference, shows unbiasedness and analyzes efficiency. Monte Carlo studies show that our procedure achieves substantial bias reductions with only mild increases in variance, thereby substantially reducing root mean square errors. The method is compared with certain consistent estimators and is shown to have superior finite sample properties to the generalized method of …

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Bundling Information Goods: The Case Of E-Journals, Yong Tan Jan 2007

Bundling Information Goods: The Case Of E-Journals, Yong Tan

Dissertations and Theses Collection (Open Access)

With the development of the Internet, e-business has become popular. Increasingly, e-journals are being sold via the Internet. E- journals have two main characteristics: one is the low marginal cost associated with access; the other is the large number of items. For the commercially motivated seller, the issue of bundling a large number of low marginal cost items so as to maximize profits needs to be dealt with. In this thesis, a solution by way of an intermediate bundle is proposed. It is found that the profit obtained under the proposed procedure is 4% to 5% higher than that under …

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Moving Window Unit Root Test: Locating Real Estate Price Bubbles In Seoul Apartment Market, Shuping Shi Jan 2007

Moving Window Unit Root Test: Locating Real Estate Price Bubbles In Seoul Apartment Market, Shuping Shi

Dissertations and Theses Collection (Open Access)

Bubbles are characterized by rapid expansion followed by a contraction. Evans (1991) shows that stationarity tests suggested by Hamilton and Whiteman (1985) and Diba and Grossman (1988) are incapable of detecting periodically collapsing bubbles. Phillips, Wu, and Yu (2006) advanced the forward recursive unit root test which improves the power significantly in the presence of periodically collapsing bubbles. In this paper, we consider rolling window unit root test with a pre-selected optimum window. A combining use of conventional unit root test and forward recursive unit root test is suggested from the results of power comparison. Furthermore, we apply those three …

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Abnormal Trading Volume, Stock Returns And The Momentum Effects, Ying Zheng Jan 2007

Abnormal Trading Volume, Stock Returns And The Momentum Effects, Ying Zheng

Dissertations and Theses Collection (Open Access)

This paper intends to study the intermediate-term momentum and long-term reversal of stock prices by investigating the informational role of unusual trading volume for winner and loser stocks. I argue that unusual trading volume has different implications for winner and loser stocks. Specifically, high trading volume for losers is driven by purchases made by informed investors; while high trade volume for winners could be driven by either information or representativeness bias or both. The arguments are tested in the paper by showing that in the short run, losers/winners with high abnormal trading volume outperform losers/winners with low abnormal trading volume; …

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Education, Technology And Skill Premium : A Dynamic General Equilibrium Analysis, Anusha Pai Jan 2007

Education, Technology And Skill Premium : A Dynamic General Equilibrium Analysis, Anusha Pai

Dissertations and Theses Collection (Open Access)

Education, Technology and Skill Premium: a Dynamic General Equilibrium Analysis is a two fold attempt to capture skill premium dynamics. First, it examines results across a cross section of model economies at different stages of economic development. It equates these model economies to real economies and compares skill premium results with the measure of income inequality. Second, it makes a valiant attempt to capture the non linear dynamics present in the US skill premium across 20th century, not captured so far in any dynamic general equilibrium model. Though the simplistic nature of the model leaves out many fine trends, the …

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Modeling Transaction Data Of Trade Direction And Estimation Of Probability Of Informed Trading, Anthony S. Tay, Christopher Ting, Yiu Kuen Tse, Mitch Warachka Jan 2007

Modeling Transaction Data Of Trade Direction And Estimation Of Probability Of Informed Trading, Anthony S. Tay, Christopher Ting, Yiu Kuen Tse, Mitch Warachka

Research Collection School Of Economics

This paper implements the Asymmetric AutoregressiveConditional Duration (AACD) model of Bauwens and Giot (2003) to analyzeirregularly spaced transaction data of trade direction, namely buy versus sellorders. We examine the influence of lagged transaction duration, lagged volumeand lagged trade direction on transaction duration and direction. Our resultsare applied to estimate the probability of informed trading (PIN) based on theEasley, Hvidkjaer and O’Hara (2002) framework. Unlike the Easley-Hvidkjaer-O’Hara model, which uses the daily aggregate number of buy and sellorders, the AACD model makes full use of transaction data and allows forinteractions between buy and sell orders.

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Realized Daily Variance Of S&P 500 Cash Index: A Revaluation Of Stylized Facts, Shirley Huang, Qianqiu Liu, Jun Yu Jan 2007

Realized Daily Variance Of S&P 500 Cash Index: A Revaluation Of Stylized Facts, Shirley Huang, Qianqiu Liu, Jun Yu

Research Collection School Of Economics

In this paper the realized daily variance is obtained from intraday transaction prices of the S&P 500 cash index over the period from January 1993 to December 2004. When constructing realized daily variance, market microstructure noise is taken into account using a technique proposed by Zhang, Mykland and Ait-Sahalia (2005). The time series properties of realized daily variance are compared with those of variance estimates obtained from parametric GARCH and stochastic volatility models. Unconditional and dynamic properties concerning the realized daily variance are examined, the relationship between realized variance and returns is investigated, and the stylized facts concerning realized daily …

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Indeterminacy And Market Instability, Kong Weng Ho, Nicholas Sim Jan 2007

Indeterminacy And Market Instability, Kong Weng Ho, Nicholas Sim

Research Collection School Of Economics

No abstract provided.

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Albert Rex Bergstrom: 1925-2005, Peter C. B. Phillips Jan 2007

Albert Rex Bergstrom: 1925-2005, Peter C. B. Phillips

Research Collection School Of Economics

No abstract provided.

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Statistics With Estimated Parameters, Zhenlin Yang, Yiu Kuen Tse, Zhidong Bai Jan 2007

Statistics With Estimated Parameters, Zhenlin Yang, Yiu Kuen Tse, Zhidong Bai

Research Collection School Of Economics

This paper studies a general problem of making inferences for functions of two sets of parameters where, when the first set is given, there exists a statistic with a known distribution. We study the distribution of this statistic when the first set of parameters is unknown and is replaced by an estimator. We show that under mild conditions the variance of the statistic is inflated when the unconstrained maximum likelihood estimator (MLE) is used, but deflated when the constrained MLE is used. The results are shown to be useful in hypothesis testing and confidence-interval construction in providing simpler and improved …

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Temporal Aggregation And Risk-Return Relation, Xing Jin, Leping Wang, Jun Yu Jan 2007

Temporal Aggregation And Risk-Return Relation, Xing Jin, Leping Wang, Jun Yu

Research Collection School Of Economics

The function form of a linear intertemporal relation between risk and return is suggested by Merton's [1973. Econometrica 41, 867–887] analytical work for instantaneous returns, whereas empirical studies have examined the nature of this relation using temporally aggregated data, i.e., daily, monthly, quarterly, or even yearly returns. Our paper carefully examines the temporal aggregation effect on the validity of the linear specification of the risk–return relation at discrete horizons, and on its implications on the reliability of the resulting inference about the risk–return relation based on different observation intervals. Surprisingly, we show that, based on the standard Heston's [1993. Review …

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The Singapore Model Of Housing And The Welfare State, Sock Yong Phang Jan 2007

The Singapore Model Of Housing And The Welfare State, Sock Yong Phang

Research Collection School Of Economics

While Singapore is not generally regarded as a welfare state, the provision of housing welfare on a large scale has been a defining feature of its welfare system. The extensive housing system has played a useful role in raising savings and homeownership rates as well as contributing to sustained economic growth in general and development of the housing sector in particular. Few would dispute the description of Singapore’s housing policies as 'phenomenally successful' (Ramesh, 2003). Singapore’s economic growth record in the past four decades has brought it from third world to first world status (Lee, 2000), with homeownership widespread at …

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Limit Theory For Moderate Deviations From A Unit Root Under Weak Dependence, Peter C. B. Phillips, Tassos Magadalinos Jan 2007

Limit Theory For Moderate Deviations From A Unit Root Under Weak Dependence, Peter C. B. Phillips, Tassos Magadalinos

Research Collection School Of Economics

An asymptotic theory is given for autoregressive time series with weakly dependent innovations and a root of the form rho_{n} = 1+c/n^{alpha}, involving moderate deviations from unity when alpha in (0,1) and c in R are constant parameters. The limit theory combines a functional law to a diffusion on D[0,infinity) and a central limit theorem. For c > 0, the limit theory of the first order serial correlation coefficient is Cauchy and is invariant to both the distribution and the dependence structure of the innovations. To our knowledge, this is the first invariance principle of its kind for explosive processes. The …

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