Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Singapore (4)
- Housing (3)
- Agency Problems (1)
- Bond risk premium predictability (1)
- Consumer expenditure (1)
-
- Corporate governance (1)
- Date-stamping strategy (1)
- Economic variables (1)
- Flexible window (1)
- Franchise (1)
- Generalized sup ADF test (1)
- Government policy (1)
- HDB (1)
- Hedge funds (1)
- Home ownership (1)
- Housing Policies (1)
- Housing Reform (1)
- Housing policy (1)
- IT adoption (1)
- IT skills (1)
- Information Diffusion (1)
- Interest rates (1)
- Irreversibility (1)
- Mortgage (1)
- Moving average rules (1)
- Multiple bubbles (1)
- Multiple-product (1)
- Mutual fund performance (1)
- Mutual fund rating (1)
- Myanmar (1)
- Publication
- Publication Type
Articles 1 - 14 of 14
Full-Text Articles in Economics
Singapore's Housing Policies: 1960-2013, Sock Yong Phang, Kyunghwan Kim
Singapore's Housing Policies: 1960-2013, Sock Yong Phang, Kyunghwan Kim
Research Collection School Of Economics
The focus of this case study is on the important role of real estate and housing policies in Singapore’s economic development. In the sphere of housing policy, Singapore is known for its high homeownership rates, the very significant role played by the government in housing supply and housing finance, and the wealth that has been created and distributed in the process.
An Epidemiological Approach To Opinion And Price-Volume Dynamics, Dong Hong, Harrison G. Hong, Andrei Ungureanu
An Epidemiological Approach To Opinion And Price-Volume Dynamics, Dong Hong, Harrison G. Hong, Andrei Ungureanu
Research Collection Lee Kong Chian School Of Business
We develop a simple and tractable model of opinions and price-volume dynamics based on a word-of-mouth communication process widely used in epidemiology. Risk-averse investors have different opinions depending on whether they heard the news from a friend. Opinions initially diverge and then converge over time as news spreads, which leads to price adjustment and trading volume. News released to many leads to an expected difusion rate (the change in the fraction of investors with the news) that declines with time. But news initially released to few leads to an expected diffusion rate that initially increases in time and only then …
An Exploratory Study On The Adoption And Use Of Ict In Myanmar, Sim Kim Lau, Graham K. Winley, Sim Yee Lau, Kim Song Tan
An Exploratory Study On The Adoption And Use Of Ict In Myanmar, Sim Kim Lau, Graham K. Winley, Sim Yee Lau, Kim Song Tan
Research Collection School Of Economics
This exploratory study investigates the adoption and use of information and communication technologies in Myanmar by examining the nature and structure of the information technology profession. The investigation is based on a theoretical framework consisting of three components: domains of information technology professional expertise; the scope of the information technology professional’s knowledge, skills and experience; and specific knowledge and skills associated with the domains of professional expertise. The findings show that specialist skills in systems development, database, network and communications are important. This paper also provides insights that are not found in current literature which investigates information technology skills in …
Housing Policies In Singapore: Evaluation Of Recent Proposals And Recommendations For Reform, Sock Yong Phang, David Kuo Chuen Lee, Alan Cheong, Kok Fai Phoon, Karol Wee
Housing Policies In Singapore: Evaluation Of Recent Proposals And Recommendations For Reform, Sock Yong Phang, David Kuo Chuen Lee, Alan Cheong, Kok Fai Phoon, Karol Wee
Research Collection School Of Economics
The Singapore housing market is unusual in its high homeownership rate, the dominance of HDB housing, and the extensive intervention of the government in regulating housing supply and demand in both the HDB and private housing sectors. Recent rapid population increases in a low interest rate and high global liquidity environment has resulted in accelerated house prices increases in Singapore. Earlier this year, the government launched “Our Singapore Conversation” of which discussion on housing policies constitutes one major component. This “conversation” comes in the wake of several consecutive rounds of measures to stabilize housing prices using various instruments. This paper …
Testing For Multiple Bubbles 1: Historical Episodes Of Exuberance And Collapse In The S&P 500, Peter C. B. Phillips, Shu-Ping Shi, Jun Yu
Testing For Multiple Bubbles 1: Historical Episodes Of Exuberance And Collapse In The S&P 500, Peter C. B. Phillips, Shu-Ping Shi, Jun Yu
Research Collection School Of Economics
Recent work on econometric detection mechanisms has shown the effectiveness of recursive procedures in identifying and dating financial bubbles. These procedures are useful as warning alerts in surveillance strategies conducted by central banks and fiscal regulators with real time data. Use of these methods over long historical periods presents a more serious econometric challenge due to the complexity of the nonlinear structure and break mechanisms that are inherent in multiple bubble phenomena within the same sample period. To meet this challenge the present paper develops a new recursive flexible window method that is better suited for practical implementation with long …
Growing The Asset Management Franchise: Evidence From Hedge Fund Firms, William Fung, David Hsieh, Narayan Y. Naik, Melvyn Teo
Growing The Asset Management Franchise: Evidence From Hedge Fund Firms, William Fung, David Hsieh, Narayan Y. Naik, Melvyn Teo
Research Collection Lee Kong Chian School Of Business
We investigate the growth strategies of hedge fund firms. We find that firms with successful first funds are able to launch follow-on funds that charge higher performance fees, set more onerous redemption terms, and attract greater inflows. While first funds outperform follow-on funds, the superior performance of the former attenuates following the launch of the second fund. Multiple-product firms underperform single-product firms, but harvest greater fee revenues. Consequently, the multiple-product firm has become the dominant business model in the hedge fund industry.
Evaluating The Effectiveness Of Cooling Measures On Property Prices: An Exploration Of Alternative Econometric Techniques, Kuo Chuen Lee, Sock Yong Phang, Kok Fai Phoon, Karol Wee
Evaluating The Effectiveness Of Cooling Measures On Property Prices: An Exploration Of Alternative Econometric Techniques, Kuo Chuen Lee, Sock Yong Phang, Kok Fai Phoon, Karol Wee
Research Collection Lee Kong Chian School Of Business
No abstract provided.
Improving Housing Status Quo, Sock Yong Phang, David K. C. Lee
Improving Housing Status Quo, Sock Yong Phang, David K. C. Lee
Research Collection Lee Kong Chian School Of Business
On home ownership and upgrading, PM Lee Hsien Loong has reaffirmed the Government's objective to make home ownership more affordable for all first-time buyers, especially low-income earners, through increasing the amounts of targeted housing grant subsidies. He spelt out the desired outcomes of housing affordability policy through his detailed matching of Housing Board flat type with household incomes.
Forecasting Government Bond Risk Premia Using Technical Indicators, Jeremy Goh, Fuwei Jiang, Jun Tu, Guofu Zhou
Forecasting Government Bond Risk Premia Using Technical Indicators, Jeremy Goh, Fuwei Jiang, Jun Tu, Guofu Zhou
Research Collection Lee Kong Chian School Of Business
While economic variables have been used extensively to forecast bond risk premia, little attention has been paid to technical indicators which are widely used by practitioners. In this paper, we study the predictive ability of a variety of technical indicators vis-a-vis the economic variables. We find that technical indicators have significant in both in- and out-of-sample forecasting power. Moreover, we find that using information from both technical indicators and economic variables increases the forecasting performance substantially. We also find that the economic value of bond risk premia forecasts from our methodology is comparable to that of equity risk premium forecasts.
Parallels Between The U.S. And Asian Property Markets, Singapore Management University
Parallels Between The U.S. And Asian Property Markets, Singapore Management University
Perspectives@SMU
U.S. home prices are on an upswing. What does this mean for the Asian property market?
Do Singaporeans Spend Too Much On Housing?, Sock Yong Phang
Do Singaporeans Spend Too Much On Housing?, Sock Yong Phang
Research Collection School Of Economics
According to a 2011 IMF study, Singapore's level of government intervention in housing finance is the highest in the developed world (Slide 3). This level of intervention in housing finance has correspondingly produced the highest level of homeownership amongst advanced countries. This housing outcome is the result of our very unique HDB-CPF housing framework – an institutional framework that was established in the 1960s during the formative period of our country?s history (Slides 4 and 5). Singapore was, at that particular point in time, faced with a situation of chronic housing shortage, low homeownership rates and an underdeveloped housing mortgage …
Penchant For Property Drives Buoyant Market, Singapore Management University
Penchant For Property Drives Buoyant Market, Singapore Management University
Perspectives@SMU
The catch phrase “location, location, location” is often cited by the real estate industry as crucial to closing a deal. In the case of land-scarce Singapore, its citizens’ penchant for property is giving Mr Patrick Liew, CEO of real estate company HSR Property Group, much cause for optimism as he says he is “very excited” at the opportunities available in the robust property market.
Arrow-Fisher-Hanemann-Henry And Dixit-Pindyck Option Values Under Strategic Interactions, Tomoki Fujii, Ryuichiro Ishikawa
Arrow-Fisher-Hanemann-Henry And Dixit-Pindyck Option Values Under Strategic Interactions, Tomoki Fujii, Ryuichiro Ishikawa
Research Collection School Of Economics
We extend the Arrow–Fisher–Hanemann–Henry (AFHH) and Dixit–Pindyck (DP) option values to a game situation. By reinterpreting the AFHH option value as a change in the surplus from conservation because of the prospect of future information, we deal with a conceptual difficulty associated with the AFHH option value in the presence of strategic interactions. We then introduce the DP option value into a game situation. We show that the equivalence between the expected value of information and the DP option value in the standard model does not hold under strategic interactions.
Three Essays On Mutual Fund Ratings, Wee Seng Ng
Three Essays On Mutual Fund Ratings, Wee Seng Ng
Dissertations and Theses Collection (Open Access)
The incessant growth of the mutual fund industry has made the task of selecting mutual funds an increasingly challenging one. Unsophisticated investors turn to low-cost and readily available ratings to guide their investment decisions. Unsurprisingly, mutual fund ratings are hugely popular and influential. Anecdotal evidence and academic findings both suggest that investors gravitate towards top-rated funds. Rating is a double-edged sword. Although the use of rating simplifies the otherwise onerous job of evaluating mutual fund performance, it can lead to adverse consequences. Investors who invest only in top-rated funds are inadvertently assuming that good ratings indicate good future performance. However, …