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Singapore Management University

2020

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The Singapore Global Restructuring Initiative, Aurelio Gurrea-Martinez, Smu Office Of Research Dec 2020

The Singapore Global Restructuring Initiative, Aurelio Gurrea-Martinez, Smu Office Of Research

Research@SMU Infographics

The SMU School of Law has recently launched the Singapore Global Restructuring Initiative (SGRI) with the support of Ministry of Law. Led by Assistant Professor Aurelio Gurrea-Martinez, the SGRI is working on a variety of projects that seek to promote a better understanding of corporate insolvency laws.


Quasi-Bayesian Inference For Production Frontiers, Xiaobin Liu, Thomas Tao Yang, Yichong Zhang Dec 2020

Quasi-Bayesian Inference For Production Frontiers, Xiaobin Liu, Thomas Tao Yang, Yichong Zhang

Research Collection School Of Economics

We propose a quasi-Bayesian method to conduct inference for the production frontier. This approach combines multiple first-stage extreme quantile estimates by the quasi-Bayesian method to produce the point estimate and confidence interval for the production frontier. We show the asymptotic properties of the proposed estimator and the validity of the inference procedure. The finite sample performance of our method is illustrated through simulations and an empirical application.


Density Of Demand And The Consumer Benefit From Uber, Matthew H. Shapiro Dec 2020

Density Of Demand And The Consumer Benefit From Uber, Matthew H. Shapiro

Research Collection School Of Economics

Uber has attracted the attention of economists and policy makers for its innovations in the taxicab market and its potential for significant consumer welfare gains. The size of this gain depends in part on whether these innovations permit transactions previously costly or infeasible. Using New York City — the largest taxi market in the country — as its context, this paper estimates the level of any technological advantage Uber has over hail taxis in matching to consumers. I combine publicly available transportation data with data scraped from Uber and traffic cameras to estimate a model of the demand for transportation …


Artificially Low Salaries And Tax Dodging, Hern Kuan Liu, Vincent Ooi Dec 2020

Artificially Low Salaries And Tax Dodging, Hern Kuan Liu, Vincent Ooi

Research Collection Yong Pung How School Of Law

In the recent case of Wee Teng Yau v Comptroller of Income Tax, the Singapore Supreme Court considered the issue of tax avoidance by professionals for the first time. The case involved a dentist, Dr Wee, who was initially employed by Alfred Cheng Orthodontic Clinic Pte Ltd (ACOC). Subsequently, he incorporated Straighten Pte Ltd (SPL), of which he was the sole director and shareholder. Dr Wee continued to provide the same dental services to ACOC's patients as he had done before. However, instead of paying Dr Wee directly for his services, ACOC paid for his services to SPL, which in …


The Use Of Similar Fact In Criminal Proceedings: An Updated Framework, Siyuan Chen Dec 2020

The Use Of Similar Fact In Criminal Proceedings: An Updated Framework, Siyuan Chen

Research Collection Yong Pung How School Of Law

When confronted with the question of whether to admit similiar fact for criminal cases, courts in Singapore are often faced with balancing potentially competing norms in the form of evidential expediency and fairness to the accused. Specifically, although similiar fact may help establish the ingredients of an offence, there existis a real risk that any resulting conviction of the accused and this potential weakness in inferential reasoning through indirect proof will - to use the word in its broadest sense - predjudice the accused.


Mediating Consumer Financial Disputes: Financial Industry Disputes Resolution Centre's Unique House Style, Eunice Chua, Beverly Wee Dec 2020

Mediating Consumer Financial Disputes: Financial Industry Disputes Resolution Centre's Unique House Style, Eunice Chua, Beverly Wee

Research Collection Yong Pung How School Of Law

The Financial Industry Disputes Resolution Centre (“FIDReC”) was established in August 2005 with the purpose of providing a low-cost avenue for consumers to resolve their disputes with financial institutions. This article seeks to outline the role of FIDReC and its processes and, at the same time, seeks to define the house style of mediation that has served FIDReC well over the years. This article also highlights some of the different techniques adopted by FIDReC mediators in the course of facilitating the mediation.


Form And Substance In Singapore Constitutional And Administrative Law, Kenny Chng Dec 2020

Form And Substance In Singapore Constitutional And Administrative Law, Kenny Chng

Research Collection Yong Pung How School Of Law

This paper proposes to study constitutional and administrative law in Singapore through the lenses of Atiyah’s and Summers’ concepts of form and substance in order to discern fruitful avenues for the development of Singapore constitutional and administrative law. While the concepts of form and substance in the context of constitutional law are often associated with constitutional interpretation, they can also be fruitfully applied to other areas of constitutional and administrative law to shed light on the potential trajectories of Singapore law. The intent of this paper is to apply Atiyah’s and Summers’ concepts of form and substance to Singapore constitutional …


Mediation And Appropriate Dispute Resolution, Nadja Alexander, Shou Yu Chong Dec 2020

Mediation And Appropriate Dispute Resolution, Nadja Alexander, Shou Yu Chong

Research Collection Yong Pung How School Of Law

2019 was a significant year for mediation. On 7 August 2019, 46 states – an unprecedented number – came together in Singapore to sign the United Nations Convention on International Mediated Settlement Agreements Resulting from Mediation (“Singapore Convention”). The Convention, which comes into force on 12 September 2020, provides a legal framework for the recognition and enforcement of mediated settlement agreements across borders and thereby addresses one of the major criticisms of international mediation, namely, the lack of an internationally recognised expedited enforcement mechanism. The Singapore Convention aims to be for mediation what the Convention on the Recognition and Enforcement …


Towards An Optimal Model Of Directors' Duties In The Zone Of Insolvency: A Comparative Assessment, Aurelio Gurrea-Martinez Dec 2020

Towards An Optimal Model Of Directors' Duties In The Zone Of Insolvency: A Comparative Assessment, Aurelio Gurrea-Martinez

Research Collection Yong Pung How School Of Law

In a recent article, I analyse the primary regulatory models of directors’ duties in the zone of insolvency observed internationally. From a sample of more than 20 countries from Asia, Australia, Europe, Latin America, Africa, and North America, I distinguish six regulatory models: (i) the imposition of a duty to initiate insolvency proceedings, generally found in Europe; (ii) the imposition of a duty to recapitalise or liquidate the company, typically existing in Europe and Latin America; (iii) the imposition of a duty to minimise losses for the creditors, existing in the United Kingdom; (iv) the imposition of a duty to …


Two Decades Of Laws And Practice Around Screen Scraping In The Common Law World And Its Open Banking Watershed Moment, Han-Wei Liu Dec 2020

Two Decades Of Laws And Practice Around Screen Scraping In The Common Law World And Its Open Banking Watershed Moment, Han-Wei Liu

Research Collection Yong Pung How School Of Law

Screen scraping—a technique using an agent to collect, parse, and organize data from the web in an automated manner—has found countless applications over the past two decades. It is now employed everywhere, from targeted advertising, price aggregation, budgeting apps, website preservation, academic research, and journalism, to name a few. However, this tool has raised enormous controversy in the age of big data. This article takes a comparative law approach to explore two sets of analytical issues in three common law jurisdictions, the United States, the United Kingdom, and Australia. As the first step, this article maps out the trajectory of …


Point Optimal Testing With Roots That Are Functionally Local To Unity, Anna Bykhovskaya, Peter C. B. Phillips Dec 2020

Point Optimal Testing With Roots That Are Functionally Local To Unity, Anna Bykhovskaya, Peter C. B. Phillips

Research Collection School Of Economics

Limit theory for regressions involving local to unit roots (LURs) is now used extensively in time series econometric work, establishing power properties for unit root and cointegration tests, assisting the construction of uniform confidence intervals for autoregressive coefficients, and enabling the development of methods robust to departures from unit roots. The present paper shows how to generalize LUR asymptotics to cases where the localized departure from unity is a time varying function rather than a constant. Such a functional local unit root (FLUR) model has much greater generality and encompasses many cases of additional interest that appear in practical work, …


Causal Change Detection In Possibly Integrated Systems: Revisiting The Money-Income Relationship, Shuping Shi, Stan Hurn, Peter C. B. Phillips Dec 2020

Causal Change Detection In Possibly Integrated Systems: Revisiting The Money-Income Relationship, Shuping Shi, Stan Hurn, Peter C. B. Phillips

Research Collection School Of Economics

This paper re-examines changes in the causal link between money and income in the United States over the past half century (1959-2014). Three methods for the data-driven discovery of change points in causal relationships are proposed, all of which can be implemented without prior detrending of the data. These methods are a forward recursive algorithm, a rolling window algorithm, and a recursive evolving algorithm all of which utilize subsample tests of Granger causality within a lagaugmented vector autoregressive framework. The limit distributions for these subsample Wald tests are provided. Bootstrap methods are developed to control family-wise size in the implementation …


The Convergence Of Water, Electricity And Gas Industries: Implications For Ppp Design And Regulation, Sock Yong Phang Dec 2020

The Convergence Of Water, Electricity And Gas Industries: Implications For Ppp Design And Regulation, Sock Yong Phang

Research Collection School Of Economics

In several countries that have privatised their utilities, power and water are separate industries regulated by sector-specific regulators. In a parallel development, desalination has become an important source of water supply in countries where there is a shortage of cheap and clean freshwater. Where the energy source is gas, the use of gas-fired power plants to supply electricity for desalination links the water, electricity and gas industries. We use the case of the financial collapse of an integrated water and power project to illustrate the problems that can arise from such convergence, and to draw lessons for firms, Public-Private Partnerships …


Asymptotic Properties Of Least Squares Estimator In Local To Unity Processes With Fractional Gaussian Noises, Xiaohu Wang, Weilin Xiao, Jun Yu Dec 2020

Asymptotic Properties Of Least Squares Estimator In Local To Unity Processes With Fractional Gaussian Noises, Xiaohu Wang, Weilin Xiao, Jun Yu

Research Collection School Of Economics

This paper derives asymptotic properties of the least squares estimator of the autoregressive parameter in local to unity processes with errors being fractional Gaussian noises with the Hurst parameter H. It is shown that the estimator is consistent when H ∈ (0, 1). Moreover, the rate of convergence is n when H ∈ [0.5, 1). The rate of convergence is n2H when H ∈ (0, 0.5). Furthermore, the limit distribution of the centered least squares estimator depends on H. When H = 0.5, the limit distribution is the same as that obtained in Phillips (1987a) for the local to …


Natural Disasters And Domestic Violence: A Study Of The 2015 Nepal Earthquake, Arpita Khanna, Tomoki Fujii Dec 2020

Natural Disasters And Domestic Violence: A Study Of The 2015 Nepal Earthquake, Arpita Khanna, Tomoki Fujii

Research Collection School Of Economics

This study explores the link between exposure to an earthquake and the incidence of intimate partner violence using two rounds of Demographic and Health Surveys data in Nepal. Using a differences-in-differences estimation, we find that exposure to the earthquake lead to a statistically and economically significant increase in the incidence of intimate partner violence in urban areas, which is attributable to the increase in stress felt by the victims. We argue that the heterogeneity of the impact between the urban and rural areas would be partly due to the differences in the reconstruction processes and assistance provided.


On Strategy-Proofness And The Salience Of Single-Peakedness In A Private Goods Economy, Shurojit Chatterji, Masso Jordi, Serizawa Shigehiro Dec 2020

On Strategy-Proofness And The Salience Of Single-Peakedness In A Private Goods Economy, Shurojit Chatterji, Masso Jordi, Serizawa Shigehiro

Research Collection School Of Economics

We consider strategy-proof rules operating on a rich domain of preference profiles in a set up where multiple private goods have to be assigned to a set of agents with entitlements where preferences display satiation. We show that if the rule is in addition "desirable", in that it is tops-only, continuous, same-sided and individually rational with respect to the entitlements, then the preferences in the domain have to satisfy a variant of single-peakedness (referred to as smilattice single-peakedness). We also provide a converse of this main finding. It turns our that this domain coincides with the one already identified in …


Testing For Structural Changes In Factor Models Via A Nonparametric Regression, Liangjun Su, Xia Wang Dec 2020

Testing For Structural Changes In Factor Models Via A Nonparametric Regression, Liangjun Su, Xia Wang

Research Collection School Of Economics

We propose a model-free test for structural changes in factor models. The basic idea is to regress the data on commonly estimated factors by local smoothing and compare the fitted values of time-varying factor loadings with those of time-invariant factor loadings estimated via principal component analysis. By construction, the test is designed to be powerful against both smooth structural changes and sudden structural breaks with a possibly unknown number of breaks and unknown break dates in the factor loadings. No restrictions on the form of alternatives or trimming of boundary regions near the beginning or end of the sample period …


How To Prepare Young Finance & Accounting Professionals For Digital Revolution, Clarence Goh, Gary Pan, Chi Kwan Yuen Dec 2020

How To Prepare Young Finance & Accounting Professionals For Digital Revolution, Clarence Goh, Gary Pan, Chi Kwan Yuen

Research Collection School Of Accountancy

Automation will alter the work of accountants in the coming years. However, accountants will always have a central role to play in business. In order to continue to thrive, the profession will need to position itself to capitalise on the opportunities that automation will bring. This involves identifying areas of work which computers cannot automate, and to focus on deepening contributions in these areas. This calls for a radical transformation of accounting education in order to equip accounting graduates with relevant work skills that will allow students to navigate a future workplace where computers and technology are the norm.


International Tax Competition And Foreign Direct Investment In The Asia-Pacific Region: A Panel Data Analysis, Chengwei Xu, Alfred M. Wu Dec 2020

International Tax Competition And Foreign Direct Investment In The Asia-Pacific Region: A Panel Data Analysis, Chengwei Xu, Alfred M. Wu

Research Collection School Of Accountancy

Purpose: The purpose of this study is to investigate how a country's competitive tax policy influences its inward foreign direct investments (FDI) in the Asia–Pacific region, even when given particular constraints (e.g., population, public governance, skilled labor, and so on) exist. Design/methodology/approach: The paper uses the system GMM estimation approach to test the hypothesis. Data on FDI, corporate income tax, and various confounding factors were drawn from Ernst and Young's worldwide corporate tax guide, the World Bank, and other sources to create a panel of 28 economies over the period 2000–2016. Findings: The present research confirms the negative association between …


Decomposing Duration Dependence: Skill Depreciation Vs. Statistical Discrimination, Ismail Baydur, Jianhuan Xu Dec 2020

Decomposing Duration Dependence: Skill Depreciation Vs. Statistical Discrimination, Ismail Baydur, Jianhuan Xu

Research Collection School Of Economics

This paper develops a random matching model with unobserved worker heterogeneity and learning about worker types from unemployment duration. The model features negative duration dependence that stems from unobserved heterogeneity as well as statistical discrimination and skill depreciation. We estimate our model using micro-level data from Current Population Survey (CPS) and we decompose the contribution of each channel to job finding rates by duration. We find that shutting down statistical discrimination substantially increases the job finding rates of the long-term unemployed while skill depreciation mainly affects the medium-term unemployed.


Firm Productivity And The Variety Of Inputs And Outputs: Evidence From Chinese Trade Data, Ken Onishi, Jianhuan Xu, Guang Yang Dec 2020

Firm Productivity And The Variety Of Inputs And Outputs: Evidence From Chinese Trade Data, Ken Onishi, Jianhuan Xu, Guang Yang

Research Collection School Of Economics

This paper studies how the trade liberalization in China changes the firm productivity. We develop a framework to estimate revenue productivity (TFPR) and real productivity (TFPQ) with multi-product firms. We find that the aggregate TFPR increases 30\% from 2002-2007 and TFPQ increases 22\%, suggesting that the observed TFPR increase is mainly driven by real productivity change rather than the markup change. We further decompose the change of productivity into three channels: (1) access to foreign inputs; (2) technology upgrade; (3) resource re-allocation within the firm. We find the most significant channel is the last one, which explains half of the …


Motivation Purity Bias: Expression Of Extrinsic Motivation Undermines Perceived Intrinsic Motivation And Engenders Bias In Selection Decisions, Rellie Derfler-Rozin, Marko Pitesa Dec 2020

Motivation Purity Bias: Expression Of Extrinsic Motivation Undermines Perceived Intrinsic Motivation And Engenders Bias In Selection Decisions, Rellie Derfler-Rozin, Marko Pitesa

Research Collection Lee Kong Chian School Of Business

Organizational selection decisions often involve an exchange of information between candidates and decision makers as to why candidates are motivated to work in the given position. Drawing on popular management myths as our overarching framework, we theorize that candidates’ expressions of extrinsic motivation lead decision makers to infer that the candidate is less intrinsically motivated, leading to bias against such candidates. We term this effect motivation purity bias, and argue that it emerges despite ample evidence, which we review, showing that penalizing expressed extrinsic motivation is not only unfair to candidates but also counterproductive from the standpoint of maximizing future …


What Has Changed? The Impact Of Covid Pandemic On The Technology And Innovation Management Research Agenda, Gerard George, Karim R. Lakhani, Phanish Puranam Dec 2020

What Has Changed? The Impact Of Covid Pandemic On The Technology And Innovation Management Research Agenda, Gerard George, Karim R. Lakhani, Phanish Puranam

Research Collection Lee Kong Chian School Of Business

Whereas the pandemic has tested the agility and resilience of organizations, it forces a deeper look at the assumptions underlying theoretical frameworks that guide managerial decisions and organizational practices. In this commentary, we explore the impact of the Covid‐19 pandemic on technology and innovation management research. We identify key assumptions, and then discuss how new areas of investigation emerge based on the changed reality.


Implementing Lasting Change: Hr In The Social Service Sector, Fermin Diez, Run Qian Ng Dec 2020

Implementing Lasting Change: Hr In The Social Service Sector, Fermin Diez, Run Qian Ng

Research Collection Lee Kong Chian School Of Business

The Human Resources (HR) practices in any organisation can make a big difference in its ability to implement the strategic plan (Thomas, Smith & Diez, 2013). This assertion points towards an additional question: Can a whole sector of the economy increase its overall capability and capacity by improving the overall HR abilities of the organisations in the sector? The Social Service Sector in Singapore has been undergoing just such a sector-wide transformation over the past 6 years, and provides a great opportunity to analyse empirically whether a systemic approach to improve the overall HR practices of the Social Service Agencies …


Trading Regularity And Fund Performance: Evidence In Uncertain Markets, Lin Tong, Zhe Zhang Dec 2020

Trading Regularity And Fund Performance: Evidence In Uncertain Markets, Lin Tong, Zhe Zhang

Research Collection Lee Kong Chian School Of Business

High trading regularity funds outperform low trading regularity funds more during periods of low market returns and greater market and economic uncertainty. Their trading also has strong return predictability on stock returns during periods of greater uncertainty. They trade more around news events, and their news related trading predicts stock return stronger during periods of greater uncertainty. They also profit from liquidity provision in highly uncertain market environment. Overall our evidence suggests that high trading regularity funds trade more frequently during periods of high uncertainty when information production and processing skill is more valuable and when the demand for liquidity …


Cooperative Approaches To Managing Social Responsibility In A Market With Externalities, Xin Fang, Soo-Haeng Cho Dec 2020

Cooperative Approaches To Managing Social Responsibility In A Market With Externalities, Xin Fang, Soo-Haeng Cho

Research Collection Lee Kong Chian School Of Business

Problem definition: This paper studies two cooperative approaches of firms in managing social responsibility violations of their supplier: auditing a common supplier jointly (joint auditing) and sharing independent audit results with other firms (audit sharing). We study this problem in a market with externalities and a large number of firms. Academic/practical relevance: With numerous firms procuring their materials and parts worldwide, there are many cases in which overseas suppliers violate safety, labor, or environmental standards. Those violations have externalities in the sense that one firm’s violation affects other firms in the same market. …


Prediction Of Nocturia In Live Alone Elderly Using Unobtrusive In-Home Sensors, Barry Nuqoba, Hwee-Pink Tan Dec 2020

Prediction Of Nocturia In Live Alone Elderly Using Unobtrusive In-Home Sensors, Barry Nuqoba, Hwee-Pink Tan

Research Collection School Of Computing and Information Systems

Nocturia, or the need to void (or urinate) one or more times in the middle of night time sleeping, represents a significant economic burden for individuals and healthcare systems. Although it can be diagnosed in the hospital, most people tend to regard nocturia as a usual event, resulting in underreported diagnosis and treatment. Data from self-reporting via a voiding diary may be irregular and subjective especially among the elderly due to memory problems. This study aims to detect the presence of nocturia through passive in-home monitoring to inform intervention (e.g., seeking diagnosis and treatment) to improve the physical and mental …


Analysis Of Online Posts To Discover Student Learning Challenges And Inform Targeted Curriculum Improvement Actions, Michelle L. F. Cheong, Jean Y. C. Chen, Bingtian Dai Dec 2020

Analysis Of Online Posts To Discover Student Learning Challenges And Inform Targeted Curriculum Improvement Actions, Michelle L. F. Cheong, Jean Y. C. Chen, Bingtian Dai

Research Collection School Of Computing and Information Systems

Past research on analysing end-of-term student feedback tend to result in only high-level course improvement suggestions, and some recent research even argued that student feedback is a poor indicator of teaching effectiveness and student learning. Our intelligent Q&A platform with machine learning prediction and engagement features allow students to ask self-directed questions and provide answers in an out-of-class informal setting. By analysing such high quality and truthful posts which represent the students’ queries and knowledge about the course content, we can better identify the exact course topics which the students face learning challenges. We have implemented our Q&A platform for …


The Spatial And Temporal Impact Of Agricultural Crop Residual Burning On Local Land Surface Temperature In Three Provinces Across China From 2015 To 2017, Wenting Zhang, Mengmeng Yu, Qingqing He, Tianwei Wang, Lu Lin, Kai Cao, Wei Huang, Peihong Fu, Jiaxin Chen Dec 2020

The Spatial And Temporal Impact Of Agricultural Crop Residual Burning On Local Land Surface Temperature In Three Provinces Across China From 2015 To 2017, Wenting Zhang, Mengmeng Yu, Qingqing He, Tianwei Wang, Lu Lin, Kai Cao, Wei Huang, Peihong Fu, Jiaxin Chen

Research Collection School Of Computing and Information Systems

China has suffered from severe crop residue burning (CRB) for a long time. As a type of biomass burning, CRB leads to a huge alteration in climate due to the emission of greenhouse gases and particulates in the atmosphere and damages to surface characteristics on land. At present, a growing body of research focuses on the impact of biomass burning (BB) (e.g., forest fire, grass fire, and CRB) on climate change from the aspect of atmospheric process. Meanwhile, a small number of research studies have started to pay attention on the damage caused by BB (e.g. forest fire) on land …


Deep Multi-Task Learning For Depression Detection And Prediction In Longitudinal Data, Guansong Pang, Ngoc Thien Anh Pham, Emma Baker, Rebecca Bentley, Anton Van Den Hengel Dec 2020

Deep Multi-Task Learning For Depression Detection And Prediction In Longitudinal Data, Guansong Pang, Ngoc Thien Anh Pham, Emma Baker, Rebecca Bentley, Anton Van Den Hengel

Research Collection School Of Computing and Information Systems

Depression is among the most prevalent mental disorders, affecting millions of people of all ages globally. Machine learning techniques have shown effective in enabling automated detection and prediction of depression for early intervention and treatment. However, they are challenged by the relative scarcity of instances of depression in the data. In this work we introduce a novel deep multi-task recurrent neural network to tackle this challenge, in which depression classification is jointly optimized with two auxiliary tasks, namely one-class metric learning and anomaly ranking. The auxiliary tasks introduce an inductive bias that improves the classification model's generalizability on small depression …