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I Love Smu: Heart, Life, Passion, Soul [Advertisment], Singapore Management University

SMU Press Releases

Celebrating the unconventional, the intriguing, the undaunted. Experience the SMU spirit. Heart: Jenny Foo; Life: Tan Chee Wee; Life: Joven Lai; Soul: Jeremy Nguee; Passion: Richard Ho, Johny Tay.

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The Performance Implications Of Ownership Driven Governance Reform, Toru Yoshikawa, Phillip H. Phan

Research Collection Lee Kong Chian School Of Business

This paper explores the performance impact of recent changes in foreign shareholdings and boardroom reforms in Japan. Empirical research on the impact of reform on the Japanese corporate governance system could provide useful lessons for their European counterparts who are themselves facing similar pressures to reform. We found that although participation of outside directors in strategic decision-making was associated with positive stock returns, the increase in the ratio of outside directors, the separation of the board members and executive officers, and the reduction of board size were not related to firm performance.

The Demand And Supply-Side Impact Of The Kimberly-Clark, Scott Paper Products Merger In The Facial Tissues Category, Andre Bonfrer, Jagmohan S. Raju

Research Collection Lee Kong Chian School Of Business

We investigate how market behavior changed in the facial tissues category, following the 1995/1996 Kimberly-Clark merger with Scott Paper Products in the paper products industry. The facial tissues category is of interest because the US Department of Justice (DOJ), anticipating reduced competition after the merger, imposed a consent decree, requiring that Scotts’ facial tissues brands be licensed out to a third party. We utilize a two-stage budgeting demand system developed by Deaton and Muellbauer (1980a), coupled with general form supply-side first order conditions to compare demand and competitive behavior before and after the merger. Our findings indicate that the merger …

Performance Of High And Low Book-To-Market Stocks With Strong Financial Signals: Evidence In Asia Markets 1991-2002, Choong Seok Joseph Kang, Kuan Yong David Ding

Research Collection Lee Kong Chian School Of Business

Motivated by striking findings in recent US studies on return enhancing role in financial signals, we examine in the context of Asian stock markets if we can improve one- and two-year returns of high and low book-to-market (BTM) portfolios by retaining in the portfolios only the stocks whose current accounting/financial information indicates strong financial performance in the prior year. We find that doing so can substantially improve the future returns of such portfolios in all markets except Malaysia. We also find that a zero-investment winner-loser strategy on high BTM stocks (a strategy of longing the value stocks with strong financial …

Fiducial Predictive Densities And Econometric Duration Analysis, Zhenlin Yang

Research Collection School Of Economics

In this article, we propose using fiducial predictive density (FPD) as a density estimate, which leads naturally to estimators of survivor and hazard functions and provides a simple way of constructing shortest prediction intervals. This approach is studied in detail in the context of two flexible duration models proposed in this paper, namely the trans-normal and trans-exponential families, by presenting the FPDs, their basic properties, their Bayesian correspondence and their applications in econometric duration analysis. Empirical evidences show that the FPD method provides better estimates of survivor and hazard functions, particularly the latter, than does the usual maximum likelihood method. …

Score Tests For Inverse Gaussian Mixture, Zhenlin Yang

Research Collection School Of Economics

The mixed inverse Gaussian given by Whitmore (Scand. J. Statist., 13, 1986, 211–220) provides a convenient way for testing the goodness-of-fit of a pure inverse Gaussian distribution. The test is a one-sided score test with the null hypothesis being the pure inverse Gaussian (i.e. the mixing parameter is zero) and the alternative a mixture. We devise a simple score test and study its finite sample properties. Monte Carlo results show that it compares favourably with the smooth test of Ducharme (Test, 10, 2001, 271-290). In practical applications, when the pure inverse Gaussian distribution is rejected, one is interested in making …

Optimum Currency Area In Europe: An Alternative Evaluation, Yoonbai Kim, Hwee Kwan Chow

Research Collection School Of Economics

In this paper we explore an alternative scheme to assess the suitability of adopting a common currency by Western European countries. It is based on the role of common regional shocks in the determination of output. The results show that the OCA theory well explains and predicts participation decisions in EMU. We also find that our OCA index is highly consistent with two popular schemes that have been introduced by Bayoumi and Eichengreen.

Political Implications Of Confucian Familism, Antonio Rappa, Sor-Hoon Tan

Research Collection School of Social Sciences

The family could be mobilized as a political resource for economic ‘development’. What kind of family would be compatible with a knowledge-based economy? We argue that authoritarian Confucian familism is incompatible with the knowledge-based economy; but it is possible to construct a different model of the ideal Confucian family which will be compatible with such an economy: a family ideal that emphasizes internal strengths of relationships rather than building barriers to keep out ‘undesirable influences’, that advocates a respect for authority that is authoritative rather than authoritarian.

Moorean Absurdity, Knowledge And Iterated Belief, John N. Williams

Research Collection School of Social Sciences

No abstract provided.

Information Recovery In A Study With Surrogate Endpoints, Song Xi Chen, Denis H. Y. Leung, Jing Qin

Research Collection School Of Economics

Recently, there has been a lot of interest in statistical methods for analyzing data with surrogate endpoints. In this article, we consider parameter estimation from a model that relates a variable Y to a set of covariates, X, in the presence of a surrogate, S. We assume that the data are made up of two random samples from the population, a validation set where (Y, X, S) are observed on every subject and a nonvalidation set where only (X, S) are measured. We show how information from the nonvalidation set can be incorporated to improve upon estimation of a parameter …

The Impacts Of Hong Kong's Currency Board Reforms On Its Interbank Market, Yiu Kuen Tse, Paul S. L. Yip

Research Collection School Of Economics

Among the economies with a Currency Board System (CBS), Hong Kong (HK) is probably the one with the largest and most developed financial sector, as well as the highest capital mobility. Hence, studying HK’s CBS is not only crucial to HK, but also important for the understanding of the modern CBS. This paper outlines the major monetary reforms in HK since the late 1980s. The impacts of these reforms and the 1997–1998 Asian Financial Crisis are then examined empirically. We focus on the differentials between the US and HK interbank interest rates. We assume the conditional-mean equation follows an autoregressive …

The Arms Trade In Russian-Chinese Relations: Identity, Domestic Politics, And Geopolitical Positioning, Robert H. Donaldson, John A. Donaldson

Research Collection School of Social Sciences

Why would a declining power help arm a neighboring and once-hostile rising power? Current international relations literature cannot explain relationships in which one powerful country contributes directly to its long-term relative decline in order to make smaller, short-term gains. This study focuses on one example, the Treaty on Good Neighborly Friendship and Cooperation between the Russian Federation and the People's Republic of China, signed in Moscow on July 16, 2001. Presenting evidence that this alliance embodies a relationship that is based primarily on sales of arms from Russia to China, the authors argue that this association cannot be explained by …

Modularity And The Product Lifecycle, Peter Cebon, Oscar Hauptman, Chander Shekhar

Research Collection Lee Kong Chian School Of Business

Product lifecycle theory, which underlies theories of technical innovation in economics, strategy, marketing, and operations management, is based implicitly on the assumption that products are integrated wholes. The modularization of products undermines the specific synergies which drive the product lifecycle, and this undermining has impacts spanning from the structure of individual organizations to the structure of economies and the definition of industries.

The Structure Of Affect: Reconsidering The Relationship Between Negative And Positive Affectivity, Russell Cropanzano, Howard M. Weiss, Jeff M. S. Hale, Jochen Reb

Research Collection Lee Kong Chian School Of Business

During the past decade organizational scientists have devoted considerable research attention to the topic of workplace affect. Despite important advances, continued progress depends on a better understanding of the structure of affective experience. The goal of this paper is to review progress to date. In particular, we review evidence pertaining to four constructs that have been widely used to organize research on affect: positive affectivity, negative affectivity, hedonic tone, and affect intensity. We review various structural models pertaining to these four constructs, devoting special attention to integrative frameworks and future research needs. Corresponding au

The Law And The Elderly In Singapore: The Law On Income And Maintenance For The Elderly, Locknie Hsu

Research Collection Yong Pung How School Of Law

By 2030, Singapore's elderly will make up a staggering 19% of the population. With such a large proportion of people becoming old, it is timely to pay some attention to the broad spectrum of legal issues surrounding elder. Several sociological and statistical studies have been done on the elderly Singapore, yet relatively little has been written on the law relating to them. Much of the present legislation which directly or indirectly addresses problems of the elderly in Singapore relate to their financial arrangements. Examples of these are provisions relating to withdrawal of Central Provident Fund (CPF) monies and the age …

Predicting Nonlinear Network Traffic Using Fuzzy Neural Network, Zhaoxia Wang, Tingzhu Hao, Zengqiang Chen, Zhuzhi Yuan

Research Collection School Of Computing and Information Systems

Network traffic is a complex and nonlinear process, which is significantly affected by immeasurable parameters and variables. This paper addresses the use of the five-layer fuzzy neural network (FNN) for predicting the nonlinear network traffic. The structure of this system is introduced in detail. Through training the FNN using back-propagation algorithm with inertia] terms the traffic series can be well predicted by this FNN system. We analyze the performance of the FNN in terms of prediction ability as compared with solely neural network. The simulation demonstrates that the proposed FNN is superior to the solely neural network systems. In addition, …

Design And Analysis Of Cylindrical Antiresonant Reflecting Optical Waveguide, Chyng Wen Tee, S. F. Yu

Research Collection Lee Kong Chian School Of Business

A field-transfer matrix method is developed to analyze the modal characteristics of cylindrical multilayered waveguides with axis-symmetric geometry. A new design rule for cylindrical antiresonant reflecting optical waveguides (ARROWs), based on a three-step design process, is also proposed to minimize the radiation loss of the fundamental leaky mode. In addition, a simple approach is suggested to estimate the optimum core diameter of the cylindrical ARROWs for optimum radiation loss and radiation loss margin. Hence, it can be shown that an extra high index cladding layer is good enough to reduce the radiation loss as well as to maintain a reasonably …

An Investigation Of Consumer Online Trust And Purchase-Repurchase Intentions, Dan J. Kim, Donald Ferrin, Raghav Rao

Research Collection Lee Kong Chian School Of Business

There is little research on trust and satisfaction in the electronic commerce from a longitudinal (pre- and postpurchase) perspective. Based on previous frameworks and theories, this study developed a combined model of consumer trust and satisfaction in the context of Internet shopping. From the valance framework and expectation-confirmation theory, several prepurchase and post-purchase factors such as risk, benefit, consumer trust, expectation, confirmation, and satisfaction are investigated as research variables affecting consumer repurchase intention.

The results of the study show that trust is the strongest predictor of the consumer’s purchase intention. In addition, as in traditional consumer satisfaction studies, it holds …

Nurse Rostering Problems: A Bibliographic Survey, Brenda Cheang, Haibing Li, Andrew Lim, Brian Rodrigues

Research Collection Lee Kong Chian School Of Business

Hospitals need to repeatedly produce duty rosters for its nursing staff. The good scheduling of nurses has impact on the quality of health care, the recruitment of nurses, the development of budgets and other nursing functions. The nurse rostering problem (NRP) has been the subject of much study. This paper presents a brief overview, in the form of a bibliographic survey, of the many models and methodologies available to solve the NRP.

The Eu And The Non-Proliferation Of Nuclear Weapons: The Way To Thessaloniki And Beyond, Clara Portela

Research Collection School of Social Sciences

This paper discusses EU policies against the proliferation of weapons of mass destruction (WMD). The author states that at the beginning of the century, the EU began taking steps against the spread of nuclear weapons within its Common Foreign and Security Policy (CFSP). In June 2003, the European Council adopted its first draft strategy against the proliferation of WMDs. In order to assess the significance of the strategy, the paper presents and evaluates the Union’s record in the field, reviews the strategy and makes suggestions as to how it can be improved.

How Are Social Identities Linked To Self-Conception And Intergroup Orientation? The Moderating Effect Of Implicit Theories, Ying-Yi Hong, Gloria Chan, Chi-Yue Chiu, Rosanna Y. M. Wong, Ian G. Hansen, Sau-Lai Lee, Jennifer Yuk-Yue Tong, Ho-Ying Fu

Research Collection School of Social Sciences

Social identity approaches assume that social identification affects both self-conception and intergroup orientation. The authors contend that such social identification effects are accentuated when people hold a fixed view of human character and attribute immutable dispositions to social groups. To these individuals, social identities are immutable, concrete entities capable of guiding self-conception and intergroup orientation. Social identification effects are attenuated when people hold a malleable view of human character and thus do not view social identities as fixed, concrete entities. The authors tested and found support for this contention in three studies that were conducted in the context of the …

Structuring Lecture Videos For Distance Learning Applications, Chong-Wah Ngo, Feng Wang, Ting-Chuen Pong

Research Collection School Of Computing and Information Systems

This paper presents an automatic and novel approach in structuring and indexing lecture videos for distance learning applications. By structuring video content, we can support both topic indexing and semantic querying of multimedia documents. In this paper, our aim is to link the discussion topics extracted from the electronic slides with their associated video and audio segments. Two major techniques in our proposed approach include video text analysis and speech recognition. Initially, a video is partitioned into shots based on slide transitions. For each shot, the embedded video texts are detected, reconstructed and segmented as high-resolution foreground texts for commercial …

Xstamps: A Multiversion Timestamps Concurrency Control Protocol For Xml Data, Khin-Myo Win, Wee-Keong Ng, Ee Peng Lim

Research Collection School Of Computing and Information Systems

With the tremendous growth of XML data over the Web, efficient management of such data becomes a new challenge for database community. Several data management solutions, proposed in recent years, extend the capability of traditional database systems to meet the needs of XML data while alternative approaches introduce new generation databases, named as native XML database management systems. Although traditional databases have mature transaction management and concurrency control techniques, there is still a need to tailor techniques for native XML databases in order to deal with distinct characteristics of XML. In this paper, we propose XStamps, a multiversion timestamps concurrency …

Paper For An Educational Digital Library, Dion Hoe-Lian Goh, Yin-Leng Theng, Ming Yin, Ee Peng Lim

Research Collection School Of Computing and Information Systems

GeogDL is a digital library of geography examination resources designed to assist students in revising for a national geography examination in Singapore. As part of an iterative design process, we carried out participatory design and brainstorming with student and teacher design partners. The first study involved prospective student design partners. In response to the first study, we describe in this paper an implementation of PAPER – Personalised Adaptive Pathways for Exam Resources – a new bundle of personalized, interactive services containing a mock exam and a personal coach. The mock exam provides a simulation of the actual geography examination while …

Larger Issues At Stake In Unnatural Sex Debate, Seow Hon Tan

Research Collection Yong Pung How School Of Law

The recent debate about the criminal prohibition of oral sex provides an occasion for considering larger, related issues. However prevalent the practice of oral sex and however archaic Section 377 of the Penal Code seems to those pushing for its repeal, the arguments offered have tended to take a piecemeal approach and display an ignorance of or disregard for the larger interests at stake.

Web Unit Mining: Finding And Classifying Subgraphs Of Web Pages, Aixin Sun, Ee Peng Lim

Research Collection School Of Computing and Information Systems

In web classification, most researchers assume that the objects to classify are individual web pages from one or more web sites. In practice, the assumption is too restrictive since a web page itself may not always correspond to a concept instance of some semantic concept (or category) given to the classification task. In this paper, we want to relax this assumption and allow a concept instance to be represented by a subgraph of web pages or a set of web pages. We identify several new issues to be addressed when the assumption is removed, and formulate the web unit mining …

Manpower Allocation With Time Windows And Job Teaming Constraints, Xi Li, Yan Zhi Li, Andrew Lim, Brian Rodrigues

Research Collection Lee Kong Chian School Of Business

In the Manpower Allocation Problem with Time Windows and Job-Teaming Constraints (MAPTWTC), we have a set of jobs located at various locations where each job requires a team of workers. Each job has a time window and a job duration, during which everyone on the team has to be present. The job requirement is satisfied if and only if the required composite team works for long enough duration within the job's time window. The objective of the problem is find a schedule to minimize a weighted sum of the total number of workers, the total travelling distances of all workers …

A Survey On Physical Delivery Versus Cash Settlement In Futures Contracts, Donald Lien, Yiu Kuen Tse

Research Collection School Of Economics

A futures contract may adopt physical delivery or cash settlement to liquidate open positions after the maturity day. While traditionally physical delivery specification is favored, exchanges have recently turned to examine cash settlement possibilities. This paper summarizes current literature on settlement specifications with emphases on market manipulation, cash index construction, and hedging effectiveness comparisons

Content-Aware Authentication Of Motion Jpeg2000 Stream In Lossy Networks, Yongdong Wu, Robert H. Deng

Research Collection School Of Computing and Information Systems

Stream authentication schemes (SAS) aim to achieve effective authentication of multicast streams over lossy networks. Almost all the existing SASs is designed for stream data integrity protection only. In this paper, we argue that content integrity protection is more important than data integrity to human users. We present a content-aware SAS in motion JPEG2000 streaming. In our scheme, a chunk of JPEG2000 codestreams is encapsulated into a block of packets using multiple description coding (MDC). Our MDC exploits the inherent structure of motion JPEG2000 codestreams and is used to preserve the semanteme/content of the stream over lossy networks. To achieve …

Aa Flexible And Scalable Authentication Scheme For Jpeg 2000 Image Codestreams, Cheng Peng, Robert H. Deng, Yongdong Wu, Weizhong Shao

Research Collection School Of Computing and Information Systems

JPEG2000 is an emerging standard for still image compression and is becoming the solution of choice for many digital imaging fields and applications. An important aspect of JPEG2000 is its "compress once, decompress many ways" property [1], i. e., it allows extraction of various sub-images (e.g., images with various resolutions, pixel fidelities, tiles and components) all from a single compressed image codestream. In this paper, we present a flexible and scalable authentication scheme for JPEG2000 images based on the Merkle hash tree and digital signature. Our scheme is fully compatible with JPEG2000 and possesses a "sign once, verify many ways" …