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Full-Text Articles in Business
Financial Risk Management: Lessons From The Current Crisis ... So Far, Knowledge@Smu
Financial Risk Management: Lessons From The Current Crisis ... So Far, Knowledge@Smu
Knowledge@SMU
The current economic recovery looks long and difficult, and makes providing for an ageing population an even greater challenge. Will economies rebound to provide for the health care needs of retirees? At a conference organised in November 2008 by the Sim Kee Boon Institute’s newly launched Center for Silver Security at the Singapore Management University, Todd Groome of the International Monetary Fund spoke on how the ongoing financial crisis could shape retirement risk.
Thierry Apoteker On The Threat Of Global Stagflation, Knowledge@Smu
Thierry Apoteker On The Threat Of Global Stagflation, Knowledge@Smu
Knowledge@SMU
Managing director Thierry Apoteker and his team at French company T-A-C (Thierry Apoteker Consulting) have correctly predicted many of the economic shocks that the world has seen in the past three months. In a recent presentation hosted by the International Trading Institute, Singapore Management University, Apoteker made a convincing case for worldwide inflation and recession, known as stagflation.
Fair-Value Accounting Provides Much Needed Transparency In Dislocated Markets, Knowledge@Smu
Fair-Value Accounting Provides Much Needed Transparency In Dislocated Markets, Knowledge@Smu
Knowledge@SMU
In the current global financial turmoil, more transparency is needed, not less, say Singapore Management University professor of accounting Andrew Lee and accounting lecturer Lim Chu Yeong. While some critics argue that fair-value accounting is partly to blame and should be suspended, in a recent commentary Lee and Lim made the case for fair-value accounting as having an important role to play in providing timely and relevant information to investors.
Retail Investors And Structured Products: A Case Of 'Buyer Beware'!, Knowledge@Smu
Retail Investors And Structured Products: A Case Of 'Buyer Beware'!, Knowledge@Smu
Knowledge@SMU
Across the globe, buyers of structured products linked to Lehman Brothers have seen their investments wiped out. In Singapore, the MAS (Monetary Authority of Singapore) has appointed an independent committee to oversee the review and resolution of customer complaints. Tan Chong Hui, professor of quantitative finance at Singapore Management University, has this advice especially for retail investors of structured products: caveat emptor or ‘buyer beware’.
Money Largely Accounts For Increased Unemployment During Stagflation, Shows A Recent Study, Knowledge@Smu
Money Largely Accounts For Increased Unemployment During Stagflation, Shows A Recent Study, Knowledge@Smu
Knowledge@SMU
Is there a relation between money, measured by inflation or interest rates, and unemployment? According to Aleksander Berensten, Guido Menzio and Randall Wright -- co-authors of a recent paper on “Inflation and Unemployment in the Long Run” -- there is a strong positive relation. Wright, who is professor of economics at Wharton, presented a seminar based on their paper at the Singapore Management University’s School of Economics.
Digital Storytelling Engages Tech-Savvy Accounting Students, Knowledge@Smu
Digital Storytelling Engages Tech-Savvy Accounting Students, Knowledge@Smu
Knowledge@SMU
Singapore has ambitions to become a global hub for `digital economy’ services. In September 2008, Singapore’s National Library Board, National Book Development Council and The Arts House are hosting the inaugural Asian Digital Storytelling Congress, Beyond Words 2008. Themin Suwardy, accountancy professor and associate dean at Singapore Management University, is one of the key speakers at the congress. His topic: Academic Learning through Digital Storytelling.
The Asian Banker: From Trade Journal To Industry Benchmark Setter, Knowledge@Smu
The Asian Banker: From Trade Journal To Industry Benchmark Setter, Knowledge@Smu
Knowledge@SMU
Emmanuel Daniel is founding president and editor-in-chief of The Asian Banker, one of the region’s leading consultancies in financial services research, benchmarking and intelligence. A trade publisher should provide leadership and not be a follower of the industry that it covers, believes Daniel, who spoke recently at a Masters Seminar on benchmarking and measuring IT performance in banks organised by the School of Information Systems, Singapore Management University.
Herd Behaviour In Financial Markets: Do Traders Follow The Crowd Or Do Their Own Thing?, Knowledge@Smu
Herd Behaviour In Financial Markets: Do Traders Follow The Crowd Or Do Their Own Thing?, Knowledge@Smu
Knowledge@SMU
In financial markets, what part of a trader’s action is simply “following the crowd” or herding, and how much is based on the trader’s own information? Herding has been shown to decrease the stability and efficiency of markets, hence the interest in these behaviours. Marco Cipriani (Asian Division, IMF Institute) and Antonio Guarino (University College London) studied herd behaviour in a laboratory setting involving financial market professionals. Cipriani presented a co-authored IMF working paper on herd behaviour in financial markets at a recent seminar at the Singapore Management University. --------------------------------------------------------------------------------
Can Monetary Policy Help To Stabilise Asset Prices?, Knowledge@Smu
Can Monetary Policy Help To Stabilise Asset Prices?, Knowledge@Smu
Knowledge@SMU
Should central banks use monetary policy to stabilise asset prices, particularly home and equity prices? Stefan Gerlach, professor of monetary economics, Johann Wolfgang Goethe University of Frankfurt, points out that no central bank has had lowering home prices as one of its policy goals. Gerlach spoke recently at an Economics and Statistics Seminar at the Singapore Management University on how residential property and equity prices, inflation and economic activity responded to monetary policy shocks in 17 countries from 1986 to 2006.
Retirement Planning: Most People Don’T Know How Nor Even Think About It, Knowledge@Smu
Retirement Planning: Most People Don’T Know How Nor Even Think About It, Knowledge@Smu
Knowledge@SMU
Worldwide, individuals are being asked to make more of their own savings and investment decisions, especially for retirement. In the US and Europe, for example, company-managed pension plans are giving way to those where employees are in charge of their own retirement money. In Singapore too, the government is encouraging individuals to take a more active role in their own retirement planning. Research by Wharton insurance and risk management professor Olivia Mitchell and Singapore Management University finance professor Benedict Koh shows, however, that people are not well-equipped to handle such investment decisions.
Measuring Economic Value Added (Eva): How Corporate Governance Works For Shareholders, Knowledge@Smu
Measuring Economic Value Added (Eva): How Corporate Governance Works For Shareholders, Knowledge@Smu
Knowledge@SMU
Economic Value Added (EVA)” is a registered trademark of Stern Stewart & Co, a consulting firm which implements the EVA concept for large companies. Joel M. Stern, managing partner of Stern Stewart since its inception, is a recognised authority on corporate performance measurement and a pioneer and proponent of shareholder value. Stern recently delivered the Shaw Foundation Distinguished Faculty Lecture at the Singapore Management University on how to make corporate governance work for shareholders. This article explains why EVA as a way of measuring a firm's performance matters.