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Social and Behavioral Sciences
Singapore Management University
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Full-Text Articles in Law
The Value Of Fiduciary Duties: Evidence From En Bloc Sales In Singapore, Jianfeng Hu, Kelvin F. K. Low, Wei Zhang
The Value Of Fiduciary Duties: Evidence From En Bloc Sales In Singapore, Jianfeng Hu, Kelvin F. K. Low, Wei Zhang
Research Collection Lee Kong Chian School Of Business
This paper examines the impact of fiduciary duties on collective asset sales in the case of owners acting as delegates for other owners, thereby potentially inducing conflicts of interests. Our identification strategy exploits a unique legal shock in Singapore, which established fiduciary duties in those transactions in the real estate market known colloquially as en bloc sales. The imposition of fiduciary duties caused the price premium of units sold via en bloc sales to increase over units ineligible for en bloc sale, as well as over units that, although eligible for en bloc sale, are sold individually. In addition, this …
Can Employers Justify Paying Workers Who Return To The Office More Than Those Who Work From Home?, Jared Nai
Can Employers Justify Paying Workers Who Return To The Office More Than Those Who Work From Home?, Jared Nai
Research Collection Lee Kong Chian School Of Business
Employers have strong grounds to do so but should avoid differentiating for wrong reasons like presenteeism, Singapore Management University’s Jared Nai says.
How Inheritance Law Affects Family Firm Performance: Evidence From A Natural Experiment, Yong Kyu Gam, Min Jung Kang, Junho Park, Hojong Shin
How Inheritance Law Affects Family Firm Performance: Evidence From A Natural Experiment, Yong Kyu Gam, Min Jung Kang, Junho Park, Hojong Shin
Research Collection Lee Kong Chian School Of Business
We argue that changes in the inheritance system affect incentives leading to sibling rivalry among descendants and therefore have a material impact on family firm performance. Using South Korea's 1991 inheritance law reform that stipulates the equal distribution of a deceased person's property to descendants, we find that the performance and operating growth rate in family firms show significant enhancement compared with those of nonfamily firms. Moreover, the positive effects are greater for family firms that undergo a business succession with multiple sons and married daughters. Overall, our results suggest that changing to equal bequests of inheritance has a positive …
Institutional Regime Shift In Intellectual Property Rights And Innovation Strategies Of Firms In China, Kenneth G. L. Huang, Xuesong Geng, Heli Wang
Institutional Regime Shift In Intellectual Property Rights And Innovation Strategies Of Firms In China, Kenneth G. L. Huang, Xuesong Geng, Heli Wang
Research Collection Lee Kong Chian School Of Business
This study develops a novel conceptual framework to understand the differential impact of formal institutional regime shift in intellectual property rights on the innovation and patenting strategies of Chinese and Western firms operating in China. We argue that to the extent that Chinese firms have been deeply embedded in China’s informal institutions,they are less responsive to formal institutional changes than Western firms operating in China. Using the major China patent law reform of 2001 as an exogenous event, we find results consistent with our key arguments: With the strengthening of the previously weak (utility model) patent protection, Chinese firms are …