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Full-Text Articles in Social and Behavioral Sciences
Bridging Academic And Practice: Benefits, Challenges And Lessons Learnt From Establishing A University Wide Experiential Learning Initiative, Gary Pan, Poh Sun Seow, Grace Koh
Bridging Academic And Practice: Benefits, Challenges And Lessons Learnt From Establishing A University Wide Experiential Learning Initiative, Gary Pan, Poh Sun Seow, Grace Koh
Research Collection School Of Accountancy
The scale and complexity of challenges facing the world today are unprecedented. It is paramount that universities identify and equip students with relevant skills to meet the needs of the changing economy. Recognizing this need, Singapore Management University launched a new initiative, SMUX. In this paper we will describe SMU-X which is a paradigm shift focusing on experiential learning as opposed to teaching, characterized by 4 principles: (i) inter-disciplinary content and activities, (ii) project-based learning via an actual problem/issue faced by an organization, (iii) active student mentoring by faculty and industry, and (iv) creating a tripartite learning loop between faculty, …
China's "Mercantilist" Government Subsidies, The Cost Of Debt And Firm Performance, Chu Yeong Lim, Jiwei Wang, Cheng (Colin) Zeng
China's "Mercantilist" Government Subsidies, The Cost Of Debt And Firm Performance, Chu Yeong Lim, Jiwei Wang, Cheng (Colin) Zeng
Research Collection School Of Accountancy
China has been adopting a “mercantilist” policy by lavishing massive government subsidies on Chinese firms. Using hand-collected subsidy data on Chinese listed companies, we find that firms receiving more subsidies tend to have a lower cost of debt. However, such firms fail to have superior financial performance. Instead, firms with more subsidies tend to be overstaffed, which demonstrates higher social performance. These results are mainly driven by non-tax-based subsidies rather than tax-based subsidies. Overall, our results suggest that the Chinese government uses non-tax-based subsidies to achieve its social policy objectives at the expense of firms’ profitability.