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Full-Text Articles in Business

Ex-Ante Uncertainty And The Underpricing Of Unseasoned New Issues, Francis Koh, B. K. Thio, Lester Johnson Mar 2012

Ex-Ante Uncertainty And The Underpricing Of Unseasoned New Issues, Francis Koh, B. K. Thio, Lester Johnson

Francis Koh

No abstract provided.


Prediction Of Corporate Takeovers - An Empirical Analysis Of Singapore Firms, Francis Koh, K. F. Phoon, Kee Seng Ng Mar 2012

Prediction Of Corporate Takeovers - An Empirical Analysis Of Singapore Firms, Francis Koh, K. F. Phoon, Kee Seng Ng

Francis Koh

No abstract provided.


Allocation Patterns Of New Equity Issues In Singapore, Seng Kee, Benedict Koh, Francis Koh, T. C. Cheng Mar 2012

Allocation Patterns Of New Equity Issues In Singapore, Seng Kee, Benedict Koh, Francis Koh, T. C. Cheng

Francis Koh

No abstract provided.


Problems Of Cement Industry In Singapore, Francis Koh, Chin Lim Mar 2012

Problems Of Cement Industry In Singapore, Francis Koh, Chin Lim

Francis Koh

No abstract provided.


Risks And Returns Of Acquiring And Acquired Firms In Singapore: An Empirical Analysis, Francis Koh, Soo-Hoon Lee Mar 2012

Risks And Returns Of Acquiring And Acquired Firms In Singapore: An Empirical Analysis, Francis Koh, Soo-Hoon Lee

Francis Koh

This paper investigates the risk profiles of target and acquiring firms and the impact of the takeover process on them. It was found that corporate takeovers generally increased the systematic risk of the acquiring firms after the event while lowering the systematic risk of the target firms. There were large and statistically significant returns obtained by the shareholders of the target firms due to the takeover event. The shareholders of the acquiring firms did not suffer any negative returns.


Family Life Cycle & Money Management Model, Francis Koh, Thomas Tan, Jin K. Han Mar 2012

Family Life Cycle & Money Management Model, Francis Koh, Thomas Tan, Jin K. Han

Francis Koh

No abstract provided.


Investing In Asian Hedge Funds: An Introduction, Francis Koh, Winston T. H. Koh Mar 2012

Investing In Asian Hedge Funds: An Introduction, Francis Koh, Winston T. H. Koh

Francis Koh

No abstract provided.


Market Timing Abilities Of Fund Managers: Parametric And Non-Parametric Tests, Francis Koh, K. F. Phoon, C. H. Tan Mar 2012

Market Timing Abilities Of Fund Managers: Parametric And Non-Parametric Tests, Francis Koh, K. F. Phoon, C. H. Tan

Francis Koh

The ability to measure the investment performance of fund managers is a perennial issue for potential and committed investors. The performance of fund managers influences the manner in which investors place their investible wealth and their choice of fund managers. Obviously, it also affects the compensation of the fund managers (see Kershot, 1978; and Smith, 1978). Past studies on the subject of investment performance have attempted to draw the distinction between the ability to 'time' the market and the ability to 'select' the right security to obtain high portfolio returns. These have been termed 'timing' and 'selectivity' abilities respectively. This …


The Performance Of Unit Trusts In Singapore, Seng Kee, Benedict Koh, Francis Koh, T. C. Cheng Mar 2012

The Performance Of Unit Trusts In Singapore, Seng Kee, Benedict Koh, Francis Koh, T. C. Cheng

Francis Koh

No abstract provided.


Initial Public Offerings: Why Are They Typically Underpriced?, Lester Johnson, Francis Koh Mar 2012

Initial Public Offerings: Why Are They Typically Underpriced?, Lester Johnson, Francis Koh

Francis Koh

No abstract provided.


Corporate Divestitures And Spinoffs In Singapore, Francis Koh, Winston T. H. Koh, Benedict S. K. Koh Mar 2012

Corporate Divestitures And Spinoffs In Singapore, Francis Koh, Winston T. H. Koh, Benedict S. K. Koh

Francis Koh

This paper discusses the different forms of corporate divestitures, the motives for this corporate activity, and the empirical findings about their economic outcomes. A sample of corporate divestitures is also used to identify the main motivations in the Singapore context. We conclude that divestitures are carried out to achieve operational efficiency and gain incremental profitability and liquidity. Using share price data around the event-dates, we show that announcements of divestitures generally lead to significant increases in the returns of the parent company. The positive abnormal returns are related to the relative size of the divestitures and the computed accounting gains. …


Cta Strategies For Returns-Enhancing Diversification, Francis Koh, David K. C. Lee, Kok Fai Phoon Mar 2012

Cta Strategies For Returns-Enhancing Diversification, Francis Koh, David K. C. Lee, Kok Fai Phoon

Francis Koh

No abstract provided.


An Empirical Study Of The Capital Structure Of Firms In Singapore, Francis Koh, K. F. Phoon, V. Tan Mar 2012

An Empirical Study Of The Capital Structure Of Firms In Singapore, Francis Koh, K. F. Phoon, V. Tan

Francis Koh

No abstract provided.


Evaluating The Diversification Benefits Of New Country Funds, Francis Koh, Young Sain, Joseph Lim Mar 2012

Evaluating The Diversification Benefits Of New Country Funds, Francis Koh, Young Sain, Joseph Lim

Francis Koh

No abstract provided.


An Empirical Analysis Of Financial Ratios Using An Industry Approach, Francis Koh, Lawrence Koh Mar 2012

An Empirical Analysis Of Financial Ratios Using An Industry Approach, Francis Koh, Lawrence Koh

Francis Koh

No abstract provided.


Alternatives In Health Care Financing, Francis Koh, Chin Lim Mar 2012

Alternatives In Health Care Financing, Francis Koh, Chin Lim

Francis Koh

No abstract provided.


Marketing Timing Abilities Of Investment Managers In Singapore, Francis Koh, Kok Fai Phoon, C. H. Tan Mar 2012

Marketing Timing Abilities Of Investment Managers In Singapore, Francis Koh, Kok Fai Phoon, C. H. Tan

Francis Koh

No abstract provided.


A Study Of Merger Motives Of Singapore Companies, C.P. Choy, Francis Koh, Kok Fai Phoon Mar 2012

A Study Of Merger Motives Of Singapore Companies, C.P. Choy, Francis Koh, Kok Fai Phoon

Francis Koh

No abstract provided.


Singapore Airlines: Price Effects Of Restriction On Foreign Ownership, Swee Sum Lam, Francis Koh, Yuen Kin Chia Mar 2012

Singapore Airlines: Price Effects Of Restriction On Foreign Ownership, Swee Sum Lam, Francis Koh, Yuen Kin Chia

Francis Koh

No abstract provided.


A Study Of New Issues On The Second Board Of The Stock Exchange Of Singapore, Francis Koh, M. C. Loke, Joseph Lim, Kok Fai Phoon Mar 2012

A Study Of New Issues On The Second Board Of The Stock Exchange Of Singapore, Francis Koh, M. C. Loke, Joseph Lim, Kok Fai Phoon

Francis Koh

No abstract provided.


The Risk And Price Performance Of New Equity Issues In Singapore, Francis Koh, Simon Tee Mar 2012

The Risk And Price Performance Of New Equity Issues In Singapore, Francis Koh, Simon Tee

Francis Koh

No abstract provided.


The Asian-Pacific Finance Association First Annual Meeting, Francis Koh, P. Tham, Joseph Lim Mar 2012

The Asian-Pacific Finance Association First Annual Meeting, Francis Koh, P. Tham, Joseph Lim

Francis Koh

No abstract provided.


An Empirical Test Of The Law Of One Price, Francis Koh, Kok Fai Phoon Mar 2012

An Empirical Test Of The Law Of One Price, Francis Koh, Kok Fai Phoon

Francis Koh

No abstract provided.


Ex-Ante Uncertainty And The Under-Pricing Of Unseasoned New Issues, Francis Koh, B. K. Thio Mar 2012

Ex-Ante Uncertainty And The Under-Pricing Of Unseasoned New Issues, Francis Koh, B. K. Thio

Francis Koh

No abstract provided.


An Empirical Study Of Abnormal Dollar Returns From Corporate Takeovers, Francis Koh, Soo-Hoon Lee Mar 2012

An Empirical Study Of Abnormal Dollar Returns From Corporate Takeovers, Francis Koh, Soo-Hoon Lee

Francis Koh

No abstract provided.


Prediction Of Corporate Takeovers: An Empirical Analysis Of Singapore Firms, Francis Koh, Kee Seng Ng, Kok Fai Phoon Mar 2012

Prediction Of Corporate Takeovers: An Empirical Analysis Of Singapore Firms, Francis Koh, Kee Seng Ng, Kok Fai Phoon

Francis Koh

No abstract provided.


The Signalling Process In Initial Public Offerings, Francis Koh, Joseph Lim, Chin Neo Mar 2012

The Signalling Process In Initial Public Offerings, Francis Koh, Joseph Lim, Chin Neo

Francis Koh

This study uses a sample of Singapore IPOs to examine the signalling process at the time of a new issue of shares. The multiple regression analysis results support three testable implications of the Grinblatt and Hwang model. We show that (1) the value of the firm is positively related to the fractional holding of the issuer, (2) the degree of underpricing is an increasing function of the variance, and (3) firm value is positively related to the degree of underpricing.


The Growth Of Singapore Companies, Francis Koh, W. Kwok Mar 2012

The Growth Of Singapore Companies, Francis Koh, W. Kwok

Francis Koh

No abstract provided.


The Performance Of The Four Investment Trusts Listed On The Singapore Stock Exchange, Francis Koh, K. F. Phoon, J. M. Tan Mar 2012

The Performance Of The Four Investment Trusts Listed On The Singapore Stock Exchange, Francis Koh, K. F. Phoon, J. M. Tan

Francis Koh

No abstract provided.


A Direct Test Of Rock's Model Of The Pricing Of Unseasoned Issues, Francis Koh, Terry Walter Mar 2012

A Direct Test Of Rock's Model Of The Pricing Of Unseasoned Issues, Francis Koh, Terry Walter

Francis Koh

No abstract provided.