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Articles 1 - 5 of 5
Full-Text Articles in Finance and Financial Management
The Sun Is Rising In The East: Dual-Class Shares And The Competitive Landscape Of Technological Industries In Asia, Hao Liang, Tran Bao Phuong Nguyen, Wei Zhang
The Sun Is Rising In The East: Dual-Class Shares And The Competitive Landscape Of Technological Industries In Asia, Hao Liang, Tran Bao Phuong Nguyen, Wei Zhang
Research Collection Lee Kong Chian School Of Business
There has recently been a relaxation of listing regulations to accommodate and attract firms going public with dual-class shares (DCS), notably in Asia. We examine the value implications of DCS adoption by employing an event study around a regulatory change allowing DCS listings in Hong Kong. We find negative market reactions around these regulatory discussions for firms already listed in Hong Kong, especially for firms in technology (tech) sectors. However, the market reaction turned positive for tech firms during Hong Kong’s first DCS listing. We identify two distinct channels that influenced shareholders’ perspectives on DCS: the competition channel, which dominated …
Inflation Expectations Can Be A Self-Fulfilling Prophecy, Aurobindo Ghosh, Khyati Chauhan, Muskan Bagrodia
Inflation Expectations Can Be A Self-Fulfilling Prophecy, Aurobindo Ghosh, Khyati Chauhan, Muskan Bagrodia
Research Collection Lee Kong Chian School Of Business
In a commentary, SMU Assistant Professor of Finance (Education) Aurobindo Ghosh, SMU postgraduate student and Research Assistant for the SInDEx Project Muskan Bagrodia and International Monetary Fund Economic Research Assistant Khyati Chauhan weighed in on why inflation expectations matter as much as economic data. They discussed how inflation expectations can be a self-fulfilling prophecy, and shared the key takeaways of the quarterly DBS-Sim Kee Boon Institute’s Singapore Index of Inflation Expectations (DBS-SKBI SInDEx) survey. They concluded that effective communication on inflation control measures, in addition to credible policy decisions, will help consumers feel assured and refrain from basing purchasing decisions …
Do Large Gains Make Willing Sellers?, Dong Hong, Roger Loh, Mitch Warachka
Do Large Gains Make Willing Sellers?, Dong Hong, Roger Loh, Mitch Warachka
Research Collection Lee Kong Chian School Of Business
Using unique real estate data that allow for accurately-measured capital gains, we examine whether sell propensities depend on the magnitude of a seller's capital gain. We find that short-term sell propensities are flat over losses and increasing in gains. Consistent with their higher sell propensities, selling prices are lower for properties with larger gains. Large-sized short-term stock investments also have sell propensities that are flat over losses and increasing in gains, although the sell propensities of typical-sized short-term stock investments are V-shaped (Ben-David and Hirshleifer (2012)). Our findings provide empirical support for the realization utility theories of Barberis and Xiong …
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. …
Climate Change And Sustainability In Asean Countries, David K. Ding, Sarah E. Beh
Climate Change And Sustainability In Asean Countries, David K. Ding, Sarah E. Beh
Research Collection Lee Kong Chian School Of Business
The ASEAN region is one of the most susceptible regions to climate change, with three of its countries—Myanmar, the Philippines, and Thailand—among those that have suffered the greatest fatalities and economic losses because of climate-related disasters. This paper reveals that the ASEAN’s environmental performance is sorely lagging other regions despite evidence of its cohesive and comprehensive efforts to mitigate emissions and build up adaptive capacity to climate-related disasters. Within the ASEAN, there exist gaps in environmental performance between each country. This suggests that increased cooperation between individual ASEAN countries is pertinent for the region to collectively combat climate change. In …