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Articles 7081 - 7110 of 8025

Full-Text Articles in Social and Behavioral Sciences

Simulation-Based Estimation Of Contingent-Claims Prices, Peter C. B. Phillips, Jun Yu Dec 2006

Simulation-Based Estimation Of Contingent-Claims Prices, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

A new methodology is proposed to estimate theortical prices of financial contingent-claims whose values are dependent on some other underlying financial assets. In the literature the preferred choice of estimator is usually maximum likelihood (ML). ML has strong asymptotic justification but is not necessarily the best method in finite samples. The present paper proposes instead a simulation-based method that improves the finite sample performance of the ML estimator while maintaining its good asymptotic properties. The methods are implemented and evaluated here in the Black-Scholes option pricing model and in the Vasicek bond pricing model, but have wider applicability. Monte Carlo …

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Mixing Frequencies: Stock Returns As A Predictor Of Real Output Growth, Anthony S. Tay Dec 2006

Mixing Frequencies: Stock Returns As A Predictor Of Real Output Growth, Anthony S. Tay

Research Collection School Of Economics

We investigate two methods for using daily stock returns to forecast, and update forecasts of, quarterly real output growth. Both methods aggregate daily returns in some manner to form a single stock market variable. We consider (i) augmenting the quarterly AR(1) model for real output growth with daily returns using a nonparametric Mixed Data Sampling (MIDAS) setting, and (ii) augmenting the quarterly AR(1) model with the most recent r -day returns as an additional predictor. We find that our mixed frequency models perform well in forecasting real output growth.

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Cosign: A Parallel Algorithm For Coordinated Traffic Signal Control, Shih-Fen Cheng, Marina A. Epelman, Robert L. Smith Dec 2006

Cosign: A Parallel Algorithm For Coordinated Traffic Signal Control, Shih-Fen Cheng, Marina A. Epelman, Robert L. Smith

Research Collection School Of Computing and Information Systems

The problem of finding optimal coordinated signal timing plans for a large number of traffic signals is a challenging problem because of the exponential growth in the number of joint timing plans that need to be explored as the network size grows. In this paper, the game-theoretic paradigm of fictitious play to iteratively search for a coordinated signal timing plan is employed, which improves a system-wide performance criterion for a traffic network. The algorithm is robustly scalable to realistic-size networks modeled with high-fidelity simulations. Results of a case study for the city of Troy, MI, where there are 75 signalized …

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Creativity Needed In Non-Profits?, Wee Liang Tan Dec 2006

Creativity Needed In Non-Profits?, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

Creativity is something that one might not associate with the social service sector. In fact, one might consider creativity something quite distant from the non-profit sector. "We in the social service sector have more important things to do - we serve our clients and beneficiaries; we don't have the time to fool around with fancy new ideas or projects." Yet such sentiments could be no further from the truth.

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The Singapore 'Advantage' In Suzhou, China: Premium Or Perception?, Caroline Yeoh, Di Kun Goh, Victor Sim, Norhanna Yumi Dec 2006

The Singapore 'Advantage' In Suzhou, China: Premium Or Perception?, Caroline Yeoh, Di Kun Goh, Victor Sim, Norhanna Yumi

Research Collection Lee Kong Chian School Of Business

This paper revisits Singapore’s industrial development in Suzhou, China, which has been in operation for more than a decade. We aim to glean insights from this experiment and more importantly, to verify recent claims of it generating political gain and economic capital for Singapore. The flagship project took on an identical framework as the other Singaporean transborder industrialization ventures in the region by adopting Singapore’s expertise and reputation for an efficient and stable government and investment environment. These measures were coupled with the combination of local-specific advantages in the region, such as availability of cheaper labour and market access. Singapore’s …

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Reiterated Commemoration: Hiroshima As National Trauma, Hiro Saito Dec 2006

Reiterated Commemoration: Hiroshima As National Trauma, Hiro Saito

Research Collection School of Social Sciences

This article examines historical transformations of Japanese collective memory of the atomic bombing of Hiroshima by utilizing a theoretical framework that combines a model of reiterated problem solving and a theory of cultural trauma. I illustrate how the event of the nuclear fallout in March 1954 allowed actors to consolidate previously fragmented commemorative practices into a master frame to define the postwar Japanese identity in terms of transnational commemoration of "Hiroshima." I also show that nationalization of trauma of "Hiroshima" involved a shift from pity to sympathy in structures of feeling about the event. This historical study suggests that a …

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Bnp Paribas And Singapore Management University Set Up Asia's First Hedge Fund Centre, Singapore Management University Nov 2006

Bnp Paribas And Singapore Management University Set Up Asia's First Hedge Fund Centre, Singapore Management University

SMU Press Releases

No abstract provided.

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Assimilation And Contrast Effects In Cultural Frame Switching: Bicultural Identity Integration And Valence Of Cultural Cues, Chi-Ying Cheng, Fiona Lee, Veronica Benet-Martinez Nov 2006

Assimilation And Contrast Effects In Cultural Frame Switching: Bicultural Identity Integration And Valence Of Cultural Cues, Chi-Ying Cheng, Fiona Lee, Veronica Benet-Martinez

Research Collection School of Social Sciences

This study examines how the valence of cultural cues in the environment moderates the way biculturals shift between multiple cultural identities. The authors found that when exposed to positive cultural cues, biculturals who perceive their cultural identities as compatible (high bicultural identity integration, or high BII) respond in culturally congruent ways, whereas biculturals who perceive their cultural identities as conflicting (low BII) respond in culturally incongruent ways. The opposite was true for negative cultural cues. These results show that both high and low BIIs can exhibit culturally congruent or incongruent behaviors, and have implications for understanding situations where high and …

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The Cartel Party And The Rise Of The New Extreme Right, Riccardo Pelizzo Nov 2006

The Cartel Party And The Rise Of The New Extreme Right, Riccardo Pelizzo

Research Collection School of Social Sciences

No abstract provided.

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Procedural Issues In The Anti-Dumping Regulations Of China: A Critical Review Under The Wto Rules, Won-Mog Choi, Henry S. Gao Nov 2006

Procedural Issues In The Anti-Dumping Regulations Of China: A Critical Review Under The Wto Rules, Won-Mog Choi, Henry S. Gao

Research Collection Yong Pung How School Of Law

Since the World Trade Organization (WTO) was established, China his made large-scale efforts to shape its trade remedy system through legal and organizational changes. Through these changes, China could clarify the meanings of WTO anti-dumping provisions including the provision relating to the definition of domestic industry. Moreover, procedural disciplines on reviews were fortified in Chinese anti-dumping system. While the overall improvements to the trade remedy system of China are evident, definitions of several key legal terms, including the concept of related producers, the negligible import standard, and adjustment factors for a fair comparison between normal values and export prices are …

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Understanding User Perceptions On Usefulness And Usability Of An Integrated Wiki-G-Portal, Yin-Leng Theng, Yuanyuan Li, Ee Peng Lim, Zhe Wang, Dion Hoe-Lian Goh, Chew-Hung Chang, Kalyani Chatterjea, Jun Zhang Nov 2006

Understanding User Perceptions On Usefulness And Usability Of An Integrated Wiki-G-Portal, Yin-Leng Theng, Yuanyuan Li, Ee Peng Lim, Zhe Wang, Dion Hoe-Lian Goh, Chew-Hung Chang, Kalyani Chatterjea, Jun Zhang

Research Collection School Of Computing and Information Systems

This paper describes a pilot study on Wiki-G-Portal, a project integrating Wikipedia, an online encyclopedia, into G-Portal, a Web-based digital library, of geography resources. Initial findings from the pilot study seemed to suggest positive perceptions on usefulness and usability of Wiki-G-Portal, as well as subjects' attitude and intention to use.

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Choice Of Currency By East Asia Bond Issuers, David Fernandez, Simon Klassen Nov 2006

Choice Of Currency By East Asia Bond Issuers, David Fernandez, Simon Klassen

Research Collection Lee Kong Chian School Of Business

In discussing bond markets in Asia, academics and policymakers typically begin by noting that the Asian crisis of 1997-98 in part resulted from the underdevelopment of the region’s domestic bond markets and the resultant currency and duration mismatches. When assessing the progress made in developing these markets in the post-crisis years, academics and policymakers usually observe that, while several domestic currency government bond markets have moved ahead, corporate bond markets have lagged (Asian Development Bank (2002), Reserve Bank of Australia (2003)). The policy conclusion is therefore often drawn: to prevent another Asian crisis, Asian bond markets must be further developed.

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Singapore Management University Receives A Significant Gift Of Art From Artist Chua Ek Kay, Singapore Management University Oct 2006

Singapore Management University Receives A Significant Gift Of Art From Artist Chua Ek Kay, Singapore Management University

SMU Press Releases

No abstract provided.

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What Matter For Child Development?, Fali Huang Oct 2006

What Matter For Child Development?, Fali Huang

Research Collection School Of Economics

This paper estimates production functions of child cognitive and social development using a panel data of nine-year old children each with over two hundred home and school inputs as well as family background variables. A tree regression method is used to conduct estimation under various speci…cations. A small subset of inputs is found consistently important in explaining variances of child development results, including the number of books a child has at various ages and how often a mother reads to child by age …ve, while the e¤ects of race and maternal employment are negligible when detailed inputs are controlled.

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The Development Of Social And Cultural Geographies In Taiwan: Knowledge Production And Social Relevance, Hsin-Ling Wu, Sue-Ching Jou, Lily Kong Oct 2006

The Development Of Social And Cultural Geographies In Taiwan: Knowledge Production And Social Relevance, Hsin-Ling Wu, Sue-Ching Jou, Lily Kong

Research Collection School of Social Sciences

Social and cultural geographies have long occupied a marginal position in Taiwan's scholarship in the humanities and social sciences. Despite the influence of the so-called ‘cultural turn’ that has characterized much of Anglo-American scholarship since the 1990s (Barnett 1998), Taiwan's scholarship in the social sciences in general and human geography more specifically has remained relatively untouched by these intellectual currents till very recent years. This paper seeks to examine the social, intellectual and institutional contexts that explain this marginalization, and consider the possibilities for social and cultural geographies' emergence from marginality in Taiwan in the future. This possibility is considered …

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On Joint Modelling And Testing For Local And Global Spatial Externalities, Zhenlin Yang Oct 2006

On Joint Modelling And Testing For Local And Global Spatial Externalities, Zhenlin Yang

Research Collection School Of Economics

This paper concerns the joint modeling, estimation and testing for local and global spatial externalities. Spatial externalities have become in recent years a standard notion of economic research activities in relation to social interactions, spatial spillovers and dependence, etc., and have received an increasing attention by econometricians and applied researchers. While conceptually the principle underlying the spatial dependence is straightforward, the precise way in which this dependence should be included in a regression model is complex. Following the taxonomy of Anselin (2003, International Regional Science Review 26, 153-166), a general model is proposed, which takes into account jointly local and …

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Lottery Rather Than Waiting-Line Auction, Winston T. H. Koh, Zhenlin Yang, Lijing Zhu Oct 2006

Lottery Rather Than Waiting-Line Auction, Winston T. H. Koh, Zhenlin Yang, Lijing Zhu

Research Collection School Of Economics

This paper investigates the allocative efficiency of two non-price allocation mechanisms – the lottery (random allocation) and the waiting-line auction (queue system) – for the cases where consumers possess identical time costs (the homogeneous case), and where time costs are correlated with time valuations (the heterogeneous case). We show that the relative efficiency of the two mechanisms depends critically on a scarcity factor (measured by the ratio of the number of objects available for allocation over the number of participants) and on the shape of the distribution of valuations. We show that the lottery dominates the waiting-line auction for a …

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With The Grain Or Against The Grain? Energy Security And Chinese Foreign Policy In The Hu Jintao Era, James T. H. Tang Oct 2006

With The Grain Or Against The Grain? Energy Security And Chinese Foreign Policy In The Hu Jintao Era, James T. H. Tang

Research Collection School of Social Sciences

Are China’s growing energy needs insatiable, and is a resource war between China and other major energy-consuming countries, such as the United States, inevitable? China’s pursuit of overseas energy resources to feed its fast-growing economy has given rise to observations that energy is now the driving force behind Chinese foreign policy and predictions that potential conflicts between China and other countries are likely to arise as China becomes more aggressive internationally in search of resources.

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Who? Whom? Reparations And The Problem Of Agency, Chandran Kukathas Sep 2006

Who? Whom? Reparations And The Problem Of Agency, Chandran Kukathas

Research Collection School of Social Sciences

If a person is wronged, whether by a physical violation of his person or by having his property unjustly taken, or even by the besmirching of his reputation, he is, most people agree, entitled to some form of compensation or restitution from the person or persons responsible for the wrong. What form the reparation should take, and how great it should be, are sometimes difficult problems, but this does not change the fact that something is owed and someone must be held to account. If a restaurant goes bust because a supplier fails to fulfill his commitments and a newspaper …

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Novartis's Alex Gorsky: Ensuring That Patients Get Access To The Medicines They Need, Knowledge@Smu Sep 2006

Novartis's Alex Gorsky: Ensuring That Patients Get Access To The Medicines They Need, Knowledge@Smu

Knowledge@SMU

Alex Gorsky was named head of Pharma North America and CEO of Novartis Pharmaceuticals Corp., the U.S. affiliate of Swiss drug giant Novartis, in the fall of 2005. Since joining the company in 2004 as chief operating officer and head of general medicines, Gorsky has overseen the continued growth of Novartis's industry-leading cardiovascular franchise, notably the blockbuster drugs Diovan and Lotrel. The company sells a variety of products, including those that treat endocrine and respiratory disease, gastrointestinal illnesses, cancer and blood disorders and bone and joint conditions, among others. Prior to joining Novartis, Gorsky was company group chairman for Johnson …

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Multivariate Stochastic Volatility Models: Bayesian Estimation And Model Comparison, Jun Yu, Renate Meyer Sep 2006

Multivariate Stochastic Volatility Models: Bayesian Estimation And Model Comparison, Jun Yu, Renate Meyer

Research Collection School Of Economics

In this paper we show that fully likelihood-based estimation and comparison of multivariate stochastic volatility (SV) models can be easily performed via a freely available Bayesian software called WinBUGS. Moreover, we introduce to the literature several new specifications that are natural extensions to certain existing models, one of which allows for time-varying correlation coefficients. Ideas are illustrated by fitting, to a bivariate time series data of weekly exchange rates, nine multivariate SV models, including the specifications with Granger causality in volatility, time-varying correlations, heavy-tailed error distributions, additive factor structure, and multiplicative factor structure. Empirical results suggest that the best specifications …

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Semiparametric Estimation Of Signaling Games, Kyoo-Il Kim Sep 2006

Semiparametric Estimation Of Signaling Games, Kyoo-Il Kim

Research Collection School Of Economics

This paper studies an econometric modeling of a signaling game with two players where one player has one of two types. In particular, we develop an estimation strategy that identifies the payoffs structure and the distribution of types from data of observed actions. We can achieve uniqueness of equilibrium using a refinement, which enables us to identify the parameters of interest. In the game, we consider non-strategic public signals about the types. Because the mixing distribution of these signals is nonparametrically specified, we propose to estimate the model using a sieve conditional MLE. We achieve the consistency and the asymptotic …

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Set Inference For Semiparametric Discrete Games, Kyoo-Il Kim Sep 2006

Set Inference For Semiparametric Discrete Games, Kyoo-Il Kim

Research Collection School Of Economics

We consider estimation and inference of parameters in discrete games allowing for multiple equilibria, without using an equilibrium selection rule. We do a set inference while a game model can contain infinite dimensional parameters. Examples can include signaling games with discrete types where the type distribution is nonparametrically specified and entry-exit games with partially linear payoffs functions. A consistent set estimator and a confidence interval of a function of parameters are provided in this paper. We note that achieving a consistent point estimation often requires an information reduction. Due to this less use of information, we may end up a …

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On The Magnet Effect Of Foreign Direct Investment, Pao Li Chang, Chia-Hui Lu Sep 2006

On The Magnet Effect Of Foreign Direct Investment, Pao Li Chang, Chia-Hui Lu

Research Collection School Of Economics

We extend Antras and Helpman (2004) on firm heterogeneity and organizational choice to a dynamic setting with FDI uncertainty, in which the probability of investment failure decreases with the host country's infrastructure level and increases with the technological complexity facing each firm. Moreover, it decreases over time as the accumulated mass of firms succeeding in FDI increases. We show that a minimum level of infrastructure is required to trigger a first wave of industrial migration. We then formalize the often noted "magnet effect" of FDI - the first wave of industrial migration generates positive externality (information spillover) for subsequent investors, …

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Performance, Growth And Earnings Management, Chi Wen Jevons Lee, Laura Yue Li, Heng Yue Sep 2006

Performance, Growth And Earnings Management, Chi Wen Jevons Lee, Laura Yue Li, Heng Yue

Research Collection School Of Accountancy

We study the relationship between the amount of managed earnings and firms' earnings performance and expected growth in a reporting model, where managers manipulate earnings to influence the valuation of firms' equity while bearing a cost that is increasing and convex in the amount of managed earnings. In the unique revealing equilibrium to the model, firms with higher performance and growth over-report earnings by a larger amount because price responsiveness increases with earnings performance and growth. And earnings quality, defined as the proportion of true economic earnings in total reported earnings, increases with earnings performance but decreases with earnings growth. …

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Higher Order Bias Correcting Moment Equation For M-Estimation And Its Higher Order Efficiency, Kyoo-Il Kim Sep 2006

Higher Order Bias Correcting Moment Equation For M-Estimation And Its Higher Order Efficiency, Kyoo-Il Kim

Research Collection School Of Economics

This paper studies an alternative bias correction for the M-estimator, which is obtained by correcting the moment equation in the spirit of Firth (1993). In particular, this paper compares the stochastic expansions of the analytically bias-corrected estimator and the alternative estimator and finds that the third-order stochastic expansions of these two estimators are identical. This implies that at least in terms of the third order stochastic expansion, we cannot improve on the simple one-step bias correction by using the bias correction of moment equations. Though the result in this paper is for a fixed number of parameters, our intuition may …

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Uniform Convergence Rate Of The Snp Density Estimator And Testing For Similarity Of Two Unknown Densities, Kyoo-Il Kim Sep 2006

Uniform Convergence Rate Of The Snp Density Estimator And Testing For Similarity Of Two Unknown Densities, Kyoo-Il Kim

Research Collection School Of Economics

This paper studies the uniform convergence rate of the turncated SNP (semi-nonparametric) density estimator. Using the uniform convergence rate result we obtain, we propose a test statistic testing the equivalence of two unknown densities where two densities are estimated using the SNP estimator and supports of densities are possibly unbounded.

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Government Procurement: A View From Asia, Locknie Hsu Sep 2006

Government Procurement: A View From Asia, Locknie Hsu

Research Collection Yong Pung How School Of Law

There is no single approach to government procurement regulation among Asian countries. While some are signatories to the WTO's Government Procurement Agreement (GPA), others are not. Some have deliberate policies which confer preferences on domestic suppliers of goods and services. Even so, some have embarked on changing their GP regimes independently of WTO requirements. Yet others appear to be prepared to make changes in tandem with the negotiation of bilateral or regional free trade agreements. This article examines government procurement from these varied perspectives of Asian countries.

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The Boundary Spanner’S Role In Organisational Learning: Unleashing Untapped Potential, Siu Loon Hoe Sep 2006

The Boundary Spanner’S Role In Organisational Learning: Unleashing Untapped Potential, Siu Loon Hoe

Research Collection School Of Computing and Information Systems

PurposeThe organizational behavior and management literature has devoted a lot attention on processes and technology in organizational learning. There has been little work to examine the role of boundary spanners in organizational learning. The purpose of this paper is to highlight the importance of boundary spanners in enhancing organizational learning.Design/methodology/approachThe existing boundary spanning literature was reviewed and the salient points on their role in organizational learning discussed.Practical implicationsThe paper offers a view on tapping the hidden potential of boundary spanners in organizations in order to enhance the organization's learning capacity form the external environment. Practicing manager would then be able …

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Relationships, Layoffs, And Organizational Resilience: Airline Industry Responses To September 11, Jody H. Gittell, Kim Cameron, Sandy Lim, Victor Rivas Sep 2006

Relationships, Layoffs, And Organizational Resilience: Airline Industry Responses To September 11, Jody H. Gittell, Kim Cameron, Sandy Lim, Victor Rivas

Research Collection School of Social Sciences

The terrorist attacks of September 11, 2001, affected the U.S. airline industry more than almost any other industry. Certain airlines emerged successful and demonstrated remarkable resilience while others languished. This investigation identifies reasons why some airline companies recovered successfully after the attacks while others struggled. Evidence is provided that layoffs after the crisis, although intended to foster recovery, instead inhibited recovery throughout the 4 years after the crisis. But, layoffs after the crisis were strongly correlated with lack of financial reserves and lack of a viable business model prior to the crisis. Digging deeper, the authors find that having a …

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