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Articles 1 - 14 of 14
Full-Text Articles in Finance and Financial Management
Making Money From Cryptocurrency? The Taxman May Call On You, Hern Kuan Liu, Vincent Ooi
Making Money From Cryptocurrency? The Taxman May Call On You, Hern Kuan Liu, Vincent Ooi
Research Collection Yong Pung How School Of Law
Miners, forgers, hobbyists, traders – different rules apply. Just don’t assume crypto investment is somehow immune to taxation.
Asia Embraces Digital Currency And Cryptocurrency, David Kuo Chen Lee
Asia Embraces Digital Currency And Cryptocurrency, David Kuo Chen Lee
Asian Management Insights
A decade ago, everyone was sceptical about cryptocurrency. Today, Asian governments are harnessing its technology to raise payment efficiency and improve financial inclusion. Initially, the technology was advocated and harnessed by ‘cypherpunks’, that is, individuals who advocate the use of cryptography and other strong encryption technologies to promote social and political change. At that time, being a cypherpunk meant standing on the opposite side of the government; today, I see cypherpunks, otherwise more appropriately known as cryptopunks, working closely with governments.
Accounting And Finance Lessons In The Time Of Covid-19: Views From The Pacific Basin: Part 2, Kuan Yong David Ding, Julie Harrison, Martien Lubberink, Chris Van Staden
Accounting And Finance Lessons In The Time Of Covid-19: Views From The Pacific Basin: Part 2, Kuan Yong David Ding, Julie Harrison, Martien Lubberink, Chris Van Staden
Research Collection Lee Kong Chian School Of Business
The global COVID-19 pandemic is now in its second year, and we are fast approaching the third. The year 2021 has brought some hope that vaccination will lead to the end of the pandemic. But it has also brought a more infectious variant of COVID-19 and multiple waves of surging cases that show no immediate sign of disappearing. As the pandemic continues to impact global societies and economies, it is imperative that we study its impact to try and understand how it will affect us in both the short-term and long-term. While the longer-term impacts are still unknown, there is …
The Unknown Benefits Of Black Markets, Singapore Management University
The Unknown Benefits Of Black Markets, Singapore Management University
Perspectives@SMU
Research on the license plate market in China’s capital finds that black markets can potentially serve as an auction mechanism to redistribute limited resources to those in need
Monetary Policy Surprises, Stock Returns, And Financial And Liquidity Constraints, In An Exchange Rate Monetary Policy System, John M. Sequeira
Monetary Policy Surprises, Stock Returns, And Financial And Liquidity Constraints, In An Exchange Rate Monetary Policy System, John M. Sequeira
Research Collection Lee Kong Chian School Of Business
This study examines the impact of monetary policy surprises on the stock price behaviour of a small developed economy, whose monetary policy is based on the exchange rate. We find that monetary policy surprises associated with all contractionary policy levers and a neutral policy lever, have a consistently significant and negative impact on stock returns. In comparison, only monetary policy surprises associated with a downward re-centering policy lever, has a significantly positive effect on stock returns. Using a recalibrated classification system, we also find that monetary policy surprises differ across sectors of the economy. Our results show how monetary policy …
Accounting And Finance Lessons In The Time Of Covid-19 – Views From The Pacific Basin, Kuan Yong David Ding, Julie Harrison, Martien Lubberink, Chris Van Staden
Accounting And Finance Lessons In The Time Of Covid-19 – Views From The Pacific Basin, Kuan Yong David Ding, Julie Harrison, Martien Lubberink, Chris Van Staden
Research Collection Lee Kong Chian School Of Business
The COVID-19 pandemic is expected to create the worst economic recession in our lifetime and generate “enormous damage to our health, jobs, and well-being” (OECD, 2020). This special issue focuses on the lessons for accounting and finance policy-makers, practitioners, and academics as a result of the social and economic turmoil that arose in the immediate period following the World Health Organization’s declaration of a pandemic (WHO, 2020). Governments responded to support businesses and economies using various policy tools to support markets, businesses and individuals impacted by the pandemic. It is timely to consider the extent to which policymakers and standard-setters …
The Pricing Of Initial Public Offering And Market Efficiency, Chiyachantana N. Chiraphol
The Pricing Of Initial Public Offering And Market Efficiency, Chiyachantana N. Chiraphol
Research Collection Lee Kong Chian School Of Business
This study investigates long-run performance of Thai initial public offerings (IPOs). To examine the longrun performance of Thai IPOs, we compute buy-and-hold abnormal returns and cumulative abnormal returns for two years after the IPOs. We find strong evidence of long run underpricing in Thai market. Specifically, the average buy-and-hold abnormal returns and cumulative abnormal returns are 64.5% and 18.4% respectively. However, our multi-variate analysis does not indicate a strong relation between long-run underperformance and firm-specific factors, such as firm size, firm age, investment banker reputation and firm profitability.
Japanese Monetary Policy And Its Impact On Stock Market Implied Volatility During Pleasant And Unpleasant Weather, Marinela Adriana Finta
Japanese Monetary Policy And Its Impact On Stock Market Implied Volatility During Pleasant And Unpleasant Weather, Marinela Adriana Finta
Research Collection Lee Kong Chian School Of Business
We investigate the effect of Japan's Monetary Policy Meeting releases on the intraday dynamics of the Nikkei Stock Average Volatility Index and its futures during pleasant and unpleasant weather. We show that at the time of a monetary policy release when the temperature is pleasant, there is a significant decline in Japanese equities' implied volatility and futures, which lasts for about 10 min and 5 min, respectively. This decline is longer and exhibits a greater variation when releases occur during cold days. Finally, we emphasize the achievable economic profits and losses, given the reaction of Nikkei VI futures to the …
Impact Assessment And Measurement With Sustainable Development Goals, Hao Liang, David Fernandez, Mikkel Larsen
Impact Assessment And Measurement With Sustainable Development Goals, Hao Liang, David Fernandez, Mikkel Larsen
Research Collection Lee Kong Chian School Of Business
With the rapid growth of sustainable and responsible investment and widespread adoption of the environmental, social, and governance (ESG) reporting and integration by organizations, how to assess and measure ESG impact has become a critical issue. Although the UN’s Sustainable Development Goals (SDGs) provide a useful framework for investors and organizations globally to align their standards, the SDGs are vague on how to implement them at an organizational or activity level. Current practice relies heavily on third-party ESG rating providers, whose scores mostly apply to public equities only. They also suffer from biases, inconsistencies, and a lack of sufficient disclosure. …
Japanese Monetary Policy And Its Impact On Stock Market Implied Volatility During Pleasant And Unpleasant Weather, Marinela Adriana Finta
Japanese Monetary Policy And Its Impact On Stock Market Implied Volatility During Pleasant And Unpleasant Weather, Marinela Adriana Finta
Research Collection Lee Kong Chian School Of Business
We investigate the effect of Japan’s Monetary Policy Meeting releases on the intraday dynamics of the Nikkei Stock Average Volatility Index and its futures during pleasant and unpleasant weather. We show that at the time of a monetary policy release when the temperature is pleasant, there is a significant decline in Japanese equities’ implied volatility and futures, which lasts for about 10 minutes and 5 minutes, respectively. This decline is longer and exhibits a greater variation when releases occur during cold days. Finally, we emphasize the achievable economic profits and losses, given the reaction of Nikkei VI futures to the …
Financial Literacy And Financial Decision-Making At Older Ages, Joelle H. Fong, Seng Kee Benedict Koh, Olivia S. Mitchell, Susann Rohwedder
Financial Literacy And Financial Decision-Making At Older Ages, Joelle H. Fong, Seng Kee Benedict Koh, Olivia S. Mitchell, Susann Rohwedder
Research Collection Lee Kong Chian School Of Business
How well older households manage their wealth holdings is an important determinant of their financial security during retirement, yet little is known about their financial decision-making and how this relates to their financial literacy. Our paper fills this gap by measuring financial literacy among older persons in the Singapore Life Panel and examining its association with timely credit card debt repayment, stock market participation, and age-based investment risk diversification. Most older respondents understand interest compounding and inflation, but fewer than half know about risk diversification. Almost all older credit card holders pay off their balances in a timely manner, but …
Disruptive Technologies And Digital Transformation Of The Financial Services Industry In Singapore: Regulatory Framework And Challenges Ahead, Aurelio Gurrea-Martinez
Disruptive Technologies And Digital Transformation Of The Financial Services Industry In Singapore: Regulatory Framework And Challenges Ahead, Aurelio Gurrea-Martinez
Research Collection Yong Pung How School Of Law
This paper seeks to provide a general overview of the impact of new technologies in the financial services industry in Singapore. For that purpose, it starts by emphasizing that technology has always played an important role in the financial industry. However, new disruptive technologies, as well as the increasing use of data in the financial services industry, have created new challenges and opportunities for the financial sector. While Singapore has managed to address these challenges by adopting one of the quickest and most innovative and comprehensive responses probably observed internationally, financial markets –and particularly the fintech industry– are constantly evolving. …
Emergence Of Private Markets And Exchanges As An Alternative Source Of Financing For Small- And Medium-Sized Enterprises (Sme) In Singapore, Ser Keng Ang
Research Collection Lee Kong Chian School Of Business
Small- and Medium-sized Enterprises (SMEs) are the engine for growth for any economy, whether big or small and developed or emerging. In the US, small firms with less than 500 employee represent 99% of all employers, provide over 80% of net new jobs and account for about one-half of the national workforce. Singapore is no exception. Hence, the well-being of the SME sector in Singapore bears huge importance in the growth and development of its economy.In practice, financing of private companies, particularly small companies, is a challenge. In general, their small size makes private firms more susceptible to exogenous shocks. …
Trust And Retirement Preparedness: Evidence From Singapore, Benedict S. K. Koh, Olivia S. Mitchell, Joelle H. Fong
Trust And Retirement Preparedness: Evidence From Singapore, Benedict S. K. Koh, Olivia S. Mitchell, Joelle H. Fong
Research Collection Lee Kong Chian School Of Business
Trust is an essential component of any financial system, and distrust can undermine savings and economic growth. Our study draws on the Singapore Life Panel to assess how trust ties to older respondents’ (1) pension plan participation and withdrawals; (2) life, health, and long-term care insurance holdings; and (3) stock market engagement. We show that the widely-used ‘trust in people’ question is uncorrelated with household behaviours related to retirement preparedness. Instead, trust in private and public financial representatives is positively associated with pension savings, investments, and insurance holdings. Financial literacy also plays an important and consistent role in retirement decision-making.