Open Access. Powered by Scholars. Published by Universities.®

Digital Commons Network™

Open Access. Powered by Scholars. Published by Universities.®

Singapore Management University

2016

Discipline
Keyword
Publication
Publication Type
File Type

Articles 1 - 30 of 1100

Full-Text Articles in Entire DC Network

Ajit Singh [Malyasia, Asean Secretary-General, Diplomat], Ajit Singh Dec 2016

Ajit Singh [Malyasia, Asean Secretary-General, Diplomat], Ajit Singh

Digital Narratives of Asia

After thirty years as a career diplomat, Malaysia's first ASEAN Secretary-General Ajit Singh, sees his five-year term as the most productive, golden years of his life. He speaks to DNA about the challenges he faced with admitting Myanmar to ASEAN, and the visionary ASEAN leadership. He also expounds on the differences in impacts of work between an ambassador and a bureaucrat.

Go to article

From Ranganathan To Amazon: Are We There Yet?, Gulcin Cribb Dec 2016

From Ranganathan To Amazon: Are We There Yet?, Gulcin Cribb

Research Collection Library

No abstract provided.

Go to article

Free Articles And Accounting For The Timing Effect, Nursyeha Yahaya, Chee Hsien Aaron (Zheng Zhixian) Tay Dec 2016

Free Articles And Accounting For The Timing Effect, Nursyeha Yahaya, Chee Hsien Aaron (Zheng Zhixian) Tay

Research Collection Library

Various studies have attempted to assess the amount of free full text available on the web and recent work have suggested that we are close to the 50% mark for freely available articles (Archambault et al. 2013; Bjork et al. 2010; Jamali and Nabavi 2015). It is natural to wonder if this might reduce researchers' reliance on library subscriptions for access. To do so, we need to determine not just what papers researchers are citing to that are free today, but to estimate if the papers they were citing were freely available at the time they were citing it. We …

Go to article

Short Selling Meets Hedge Fund 13f: An Anatomy Of Informed Demand, Yawen Jiao, Massimo Massa, Hong Zhang Dec 2016

Short Selling Meets Hedge Fund 13f: An Anatomy Of Informed Demand, Yawen Jiao, Massimo Massa, Hong Zhang

Research Collection Lee Kong Chian School Of Business

The existing literature treats the short side (i.e., short selling) and the long side of hedge fund trading (i.e., fund holdings) independently. The two sides, however, complement each other: opposite changes in the two are likely to be driven by information, whereas simultaneous increases (decreases) of the two may be motivated by hedging (unwinding) considerations. We use this intuition to identify informed demand and document that it exhibits highly significant predictive power over returns (approximately 10% per year). We also find that informed demand forecasts future firm fundamentals, suggesting that hedge funds play an important role in information discovery. (C) …

Go to article

Essays On Asset Management, Lin Sun Dec 2016

Essays On Asset Management, Lin Sun

Dissertations and Theses Collection

Hedge funds managed by listed firms significantly underperform funds managed by unlisted firms. We argue that since the new shareholders of a listed management company typically do not invest alongside the limited partners of the funds managed, the process of going public breaks the incentive alignment between ownership, control, and investment capital, thereby engendering agency problems. In line with the agency explanation, the underperformance is more severe for funds that have low manager total deltas, low governance scores, and no manager personal capital, or that are managed by firms whose stock prices are more sensitive to earnings news. Post IPO, …

Go to article

Gender Effects In Hedge Funds Performance, Karen Yoke Wah Gan Dec 2016

Gender Effects In Hedge Funds Performance, Karen Yoke Wah Gan

Dissertations and Theses Collection (Open Access)

This paper shows that after controlling for total risks (as funds do not typically hold a completely large diversified portfolio) across different funds, female-managed funds appear to perform better in certain circumstances. For example, female-managed hedge funds perform better during post-crisis times, for investments using the Relative Value Style and also when investments are in the Asia excluding Japan region. However, there are still many conditions in which male-managed funds seem to perform better. Namely, male-managed funds performed significantly positive in the Relative Value, Security Selection, and Multiprocess Styles, notably during the pre-crisis period and also when investments are in …

Go to article

Shrinkage Estimation Of Regression Models With Multiple Structural Changes, Junhai Qian, Liangjun Su Dec 2016

Shrinkage Estimation Of Regression Models With Multiple Structural Changes, Junhai Qian, Liangjun Su

Research Collection School Of Economics

In this paper, we consider the problem of determining the number of structural changes in multiple linear regression models via group fused Lasso. We show that with probability tending to one, our method can correctly determine the unknown number of breaks, and the estimated break dates are sufficiently close to the true break dates. We obtain estimates of the regression coefficients via post Lasso and establish the asymptotic distributions of the estimates of both break ratios and regression coefficients. We also propose and validate a data-driven method to determine the tuning parameter. Monte Carlo simulations demonstrate that the proposed method …

Go to article

From Context To Text In Contractual Interpretation: Is There Really A Problem With The Plain Meaning Rule?, Yihan Goh Dec 2016

From Context To Text In Contractual Interpretation: Is There Really A Problem With The Plain Meaning Rule?, Yihan Goh

Research Collection Yong Pung How School Of Law

Much of the contemporary scholarship on contractual interpretation is staunchly against a textual analysis, by which a court can only depart from the plain meaning of a contract exceptionally. It is therefore no surprise that scholars have reacted negatively to the spate of recent cases where the English courts have re-emphasized the plain meaning of the text in contractual interpretation. Yet one cannot help but wonder whether a textual analysis is really so problematic when courts across the common law world have re-embraced it. Drawing from both theoretical and comparative perspectives, this paper suggests that a focus on the text …

Go to article

Weak Convergence To Stochastic Integrals For Econometric Applications, Hanying Liang, Peter C. B. Phillips, Hanchao Wang, Qiying Wang Dec 2016

Weak Convergence To Stochastic Integrals For Econometric Applications, Hanying Liang, Peter C. B. Phillips, Hanchao Wang, Qiying Wang

Research Collection School Of Economics

Limit theory involving stochastic integrals is now widespread in time series econometrics and relies on a few key results on functional weak convergence. In establishing such convergence, the literature commonly uses martingale and semimartingale structures. While these structures have wide relevance, many applications involve a cointegration framework where endogeneity and nonlinearity play major roles and complicate the limit theory. This paper explores weak convergence limit theory to stochastic integral functionals in such settings. We use a novel decomposition of sample covariances of functions of I (1) and I (0) time series that simplifies the asymptotics and our limit results for …

Go to article

Managing Egress Of Crowd During Infrastructure Disruption, Teck Hou Teng, Shih-Fen Cheng, Trong-Nghia Truong, Hoong Chuin Lau Dec 2016

Managing Egress Of Crowd During Infrastructure Disruption, Teck Hou Teng, Shih-Fen Cheng, Trong-Nghia Truong, Hoong Chuin Lau

Research Collection School Of Computing and Information Systems

In a large indoor environment such as a sports arena or convention center, smooth egress of crowd after an event can be seriously affected if infrastructure such as elevators and escalators break down. In this paper, we propose a novel crowd simulator known as SIM-DISRUPT for simulating egress scenarios in non-emergency situations. To surface the impact of disrupted infrastructure on the egress of crowd, SIM-DISRUPT includes features that allow users to specify selective disruptions as well as strategies for controlling the distribution and egress choices of crowd. Using SIM-DISRUPT, we investigate effects of crowd distribution, egress choices and infrastructure disruptions …

Go to article

Orienteering Problem: A Survey Of Recent Variants, Solution Approaches And Applications, Aldy Gunawan, Hoong Chuin Lau, Pieter Vansteenwegen Dec 2016

Orienteering Problem: A Survey Of Recent Variants, Solution Approaches And Applications, Aldy Gunawan, Hoong Chuin Lau, Pieter Vansteenwegen

Research Collection School Of Computing and Information Systems

Duplicate record, see https://ink.library.smu.edu.sg/sis_research/3271. The Orienteering Problem (OP) has received a lot of attention in the past few decades. The OP is a routing problem in which the goal is to determine a subset of nodes to visit, and in which order, so that the total collected score is maximized and a given time budget is not exceeded. A number of typical variants has been studied, such as the Team OP, the (Team) OP with Time Windows and the Time Dependent OP. Recently, a number of new variants of the OP was introduced, such as the Stochastic OP, the …

Go to article

Efficient Online Summarization Of Large-Scale Dynamic Networks, Qiang Qu, Siyuan Liu, Feida Zhu, Christian S. Jensen Dec 2016

Efficient Online Summarization Of Large-Scale Dynamic Networks, Qiang Qu, Siyuan Liu, Feida Zhu, Christian S. Jensen

Research Collection School Of Computing and Information Systems

Information diffusion in social networks is often characterized by huge participating communities and viral cascades of high dynamicity. To observe, summarize, and understand the evolution of dynamic diffusion processes in an informative and insightful way is a challenge of high practical value. However, few existing studies aim to summarize networks for interesting dynamic patterns. Dynamic networks raise new challenges not found in static settings, including time sensitivity, online interestingness evaluation, and summary traceability, which render existing techniques inadequate. We propose dynamic network summarization to summarize dynamic networks with millions of nodes by only capturing the few most interesting nodes or …

Go to article

Validating Social Media Data For Automatic Persona Generation, Jisun An, Haewoon Kwak, Bernard J Jansen Dec 2016

Validating Social Media Data For Automatic Persona Generation, Jisun An, Haewoon Kwak, Bernard J Jansen

Research Collection School Of Computing and Information Systems

Using personas during interactive design has considerable potential for product and content development. Unfortunately, personas have typically been a fairly static technique. In this research, we validate an approach for creating personas in real time, based on analysis of actual social media data in an effort to automate the generation of personas. We validate that social media data can be implemented as an approach for automating generating personas in real time using actual YouTube social media data from a global media corporation that produces online digital content. Using the organization's YouTube channel, we collect demographic data, customer interactions, and topical …

Go to article

The Benefits Of Specific Risk-Factor Disclosures, Ole-Kristian Hope, Danqi Hu, Hai Lu Dec 2016

The Benefits Of Specific Risk-Factor Disclosures, Ole-Kristian Hope, Danqi Hu, Hai Lu

Research Collection School Of Accountancy

Practitioners have long criticized risk-factor disclosures in the 10-K as generic and boilerplate. In response, regulators emphasize the importance of being specific. By using a computing algorithm, this paper establishes a new measure (Specificity) to quantify the level of specificity of firms’ qualitative risk-factor disclosures. We first examine determinants of variations in Specificity, and document that firms with high proprietary costs provide less specific risk-factor disclosures. More importantly, we find that, controlling for numerous determinants, the market reaction to the 10-K filing is positively and significantly associated with Specificity. In addition, our results suggest that analysts are better able to …

Go to article

Ceo Overconfidence And Stock Price Crash Risk, Jeong-Bon Kim, Zhang Wen, Liandong Zhang Dec 2016

Ceo Overconfidence And Stock Price Crash Risk, Jeong-Bon Kim, Zhang Wen, Liandong Zhang

Research Collection School Of Accountancy

This study examines the association between chief executive officer (CEO) overconfidence and future stock price crash risk. Overconfident managers overestimate the returns to their investment projects and misperceive negative net present value (NPV) projects as value creating. They also tend to ignore or explain away privately observed negative feedback. As a result, negative NPV projects are kept for too long and their bad performance accumulates, which can lead to stock price crashes. Using a large sample of firms for the period 1993–2010, we find that firms with overconfident CEOs have higher stock price crash risk than firms with nonoverconfident CEOs. …

Go to article

Sharing Sequential Values In A Network, Ruben Juarez, Chiu Yu Ko, Jingyi Xue Dec 2016

Sharing Sequential Values In A Network, Ruben Juarez, Chiu Yu Ko, Jingyi Xue

Research Collection School Of Economics

Consider a sequential process where agents have individual values at every possible step. A planner is in charge of selecting steps and distributing the accumulated aggregate values among agents. We model this process by a directed network where each edge is associated with a vector of individual values. This model applies to several new and existing problems, e.g., developing a connected public facility and distributing total values received by surrounding districts; selecting a long-term production plan and sharing final profits among partners of a firm; choosing a machine schedule to serve different tasks and distributing total outputs among task owners. …

Go to article

Orienteering Problem: A Survey Of Recent Variants, Solution Approaches And Applications, Aldy Gunawan, Hoong Chuin Lau, Pieter Vansteenwegen Dec 2016

Orienteering Problem: A Survey Of Recent Variants, Solution Approaches And Applications, Aldy Gunawan, Hoong Chuin Lau, Pieter Vansteenwegen

Research Collection School Of Computing and Information Systems

The Orienteering Problem (OP) has received a lot of attention in the past few decades. The OP is a routing problem in which the goal is to determine a subset of nodes to visit, and in which order, so that the total collected score is maximized and a given time budget is not exceeded. A number of typical variants has been studied, such as the Team OP, the (Team) OP with Time Windows and the Time Dependent OP. Recently, a number of new variants of the OP was introduced, such as the Stochastic OP, the Generalized OP, the Arc OP, …

Go to article

2016: A Year Of Looking To The Future, David Chan Dec 2016

2016: A Year Of Looking To The Future, David Chan

Research Collection School of Social Sciences

Six major events caused Singaporeans to ponder over the future and what it will bring. As 2016 comes to a close, it is timely to reflect on the past 12 months, which I would summarise as "a future-focused year" - one filled with events and issues that made people ponder about their own future and that of the country. It is useful to revisit the way we approached the key events and issues. After all, when it comes to thinking about the future, how we think is as important as what we think.

Go to article

Accounting Flexibility And Managers' Forecast Behavior Prior To Seasoned Equity Offerings, Jae Bum Kim Dec 2016

Accounting Flexibility And Managers' Forecast Behavior Prior To Seasoned Equity Offerings, Jae Bum Kim

Research Collection School Of Accountancy

This study examines the effect of accounting flexibility on managers’ forecasting behavior prior to seasoned equity offerings (SEOs). Although SEO firms have a strong incentive to convey optimistic information to boost the pre-SEO stock price, they also face enhanced litigation risk arising from SEO-related regulations. Thus, I hypothesize that managers will release positive news through their forecasts (relative to the prevailing analyst consensus) prior to an SEO only if they have the accounting flexibility to manage subsequent reported earnings to meet or exceed their forecasts. I find that managers with greater accounting flexibility are more likely to issue a forecast …

Go to article

2016 – A Tumultuous Year Of The Revolt Against The Elites, Tan K. B. Eugene Dec 2016

2016 – A Tumultuous Year Of The Revolt Against The Elites, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

In a commentary, SMU Associate Professor of Law Eugene Tan noted that 2016 will probably be remembered as the year of the populist revolt against the elites, against the backdrop of bewildering disruptions and an abiding sense of displacement and control accentuated by technological advancements. He highlighted that the critical challenge is to bring trust back into the core of the relationship between those in power and the masses, adding that governments need to purposively deal with people's resentments, fury and fears.

Go to article

It Is Only In Giving That We Receive, Tan K. B. Eugene Dec 2016

It Is Only In Giving That We Receive, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

Giving is quintessential to our common humanity and progress: It recognises that no man is an island and that there are causes greater than ourselves.

Go to article

Panel Data Models With Interactive Fixed Effects And Multiple Structural Breaks, Degui Li, Junhui Qian, Liangjun Su Dec 2016

Panel Data Models With Interactive Fixed Effects And Multiple Structural Breaks, Degui Li, Junhui Qian, Liangjun Su

Research Collection School Of Economics

In this article, we consider estimation of common structural breaks in panel data models with unobservable interactive fixed effects. We introduce a penalized principal component (PPC) estimation procedure with an adaptive group fused LASSO to detect the multiple structural breaks in the models. Under some mild conditions, we show that with probability approaching one the proposed method can correctly determine the unknown number of breaks and consistently estimate the common break dates. Furthermore, we estimate the regression coefficients through the post-LASSO method and establish the asymptotic distribution theory for the resulting estimators. The developed methodology and theory are applicable to …

Go to article

Attacking Android Smartphone Systems Without Permissions, Mon Kywe Su, Yingjiu Li, Kunal Petal, Michael Grace Dec 2016

Attacking Android Smartphone Systems Without Permissions, Mon Kywe Su, Yingjiu Li, Kunal Petal, Michael Grace

Research Collection School Of Computing and Information Systems

Android requires third-party applications to request for permissions when they access critical mobile resources, such as users' personal information and system operations. In this paper, we present the attacks that can be launched without permissions. We first perform call graph analysis, component analysis and data-flow analysis on various parts of Android framework to retrieve unprotected APIs. Unprotected APIs provide a way of accessing resources without any permissions. We then exploit selected unprotected APIs and launch a number of attacks on Android phones. We discover that without requesting for any permissions, an attacker can access to device ID, phone service state, …

Go to article

Understanding And Tackling Societal Grand Challenges Through Management Research, Gerard George, Jennifer Howard-Grenville, Aparna Joshi, Laszlo Tihanyi Dec 2016

Understanding And Tackling Societal Grand Challenges Through Management Research, Gerard George, Jennifer Howard-Grenville, Aparna Joshi, Laszlo Tihanyi

Research Collection Lee Kong Chian School Of Business

“Grand challenges” are formulations of global problems that can be plausibly addressed through coordinated and collaborative effort. In this Special Research Forum, we showcase management research that examines societal problems that individuals, organizations, communities, and nations face around the world. We develop a framework to guide future research to provide systematic empirical evidence on the formulation, articulation, and implementation of grand challenges. We highlight several factors that likely enhance or suppress the attainment of collective goals, and identify representative research questions for future empirical work. In so doing, we aspire to encourage management scholars to engage in tackling broader societal …

Go to article

Predicting The Performance Of Queues: A Data Analytic Approach, Kum Khiong Yang, Cayirli Tugba, Mei Wan Low Dec 2016

Predicting The Performance Of Queues: A Data Analytic Approach, Kum Khiong Yang, Cayirli Tugba, Mei Wan Low

Research Collection Lee Kong Chian School Of Business

Existing models of multi-server queues with system transience and non-standard assumptions are either too complex or restricted in their assumptions to be used broadly in practice. This paper proposes using data analytics, combining computer simulation to generate the data and an advanced non-linear regression technique called the Alternating Conditional Expectation (ACE) to construct a set of easy-to-use equations to predict the performance of queues with a scheduled start and end time. Our results show that the equations can accurately predict the queue performance as a function of the number of servers, mean arrival load, session length and service time variability. …

Go to article

Management Research In Amj: Celebrating Impact While Striving For More, Gerard George Dec 2016

Management Research In Amj: Celebrating Impact While Striving For More, Gerard George

Research Collection Lee Kong Chian School Of Business

Over the years, I have read articles or listened to panel discussions that question the value of management scholarship, and often critiqued its relevance or insightfulness for an applied profession. On occasion, I have sided with those who are more pessimistic of our future as a field. While there are many truths in these commentaries, they might not give adequate credit to the robust knowledge production ecosystem that generates applied insight with scientific rigor. Yes, there is a lot more we can do but we should also celebrate the work we do well. Having read over 4000 manuscripts as an …

Go to article

Limited Attention, Marital Events And Hedge Funds, Yan Lu, Sugata Ray, Melvyn Teo Dec 2016

Limited Attention, Marital Events And Hedge Funds, Yan Lu, Sugata Ray, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

We explore the impact of limited attention by analyzing the performance of hedge fund managers who are distracted by marital events. We find that marriages and divorces are associated with significantly lower fund alpha, during the six-month period surrounding and the two-year period after the event. Busy managers who manage multiple funds and who are not part of a team are more affected by marital transitions. Inattentive managers place fewer active bets relative to their style peers, load more on index stocks, exhibit higher R-squareds with respect to systematic factors, and are more prone to the disposition effect.

Go to article

Public Hedge Funds, Lin Sun, Melvyn Teo Dec 2016

Public Hedge Funds, Lin Sun, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

Hedge funds managed by listed firms significantly underperform funds managed by unlisted firms. The underperformance is more severe for funds with low manager deltas, poor governance, and no manager co-investment, or managed by firms whose prices are sensitive to earnings news. Notwithstanding the underperformance, listed firms raise more capital and harvest greater fee revenues than do comparable unlisted firms. The results cannot be explained by endogeneity, backfill bias, serial correlation, or manager manipulation, and are consistent with the view that, for asset management firms, going public weakens the alignment between ownership, control, and investment capital, thereby engendering conflicts of interest.

Go to article

Appointment Systems Under Service Level Constraints, David Chen, Rowan Wang, Zhenzhen Yan, Saif Benjaafar, Oualid Jouini Dec 2016

Appointment Systems Under Service Level Constraints, David Chen, Rowan Wang, Zhenzhen Yan, Saif Benjaafar, Oualid Jouini

Research Collection Lee Kong Chian School Of Business

We consider a new model of appointment scheduling where customers are given the earliest possible appointment times under the service level constraint that the expected waiting time of each individual customer cannot exceed a given threshold. We apply the theory of majorization to analytically characterize the structure of the optimal appointment schedule. We show that, the optimal inter-appointment times increase with the order of arrivals. That is, the optimal inter-arrival time between two customers later in the arrival process is longer than that between two customers earlier in the arrival process. We study the limiting behavior of our system, and …

Go to article

The Effect Of Monetary Policy On Bank Wholesale Funding, Hyunsoo Choi, Hyun Soo Choi Dec 2016

The Effect Of Monetary Policy On Bank Wholesale Funding, Hyunsoo Choi, Hyun Soo Choi

Research Collection Lee Kong Chian School Of Business

We study how monetary policy affects the funding composition of the banking sector. When monetary tightening reduces the retail deposit supply due to, for example, a decrease in bank reserves or in money demand, banks try to substitute the deposit outflows with more wholesale funding in order to mitigate the policy impact on their lending. Banks have varying degrees of accessibility to wholesale funding sources because of financial frictions, and those banks that are large or that have a greater reliance on wholesale funding increase their wholesale funding more. As a result, monetary tightening increases both the reliance on and …

Go to article

Next Last