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Standardized Lm Tests For Spatial Error Dependence In Linear Or Panel Regressions, Badi H. Baltagi, Zhenlin Yang Oct 2010

Standardized Lm Tests For Spatial Error Dependence In Linear Or Panel Regressions, Badi H. Baltagi, Zhenlin Yang

Research Collection School Of Economics

The robustness of the LM tests for spatial error dependence of Burridge (1980) for the linear regression model and Anselin (1988) for the panel regression model are examined. While both tests are asymptotic ally robust against distributional misspecification, their finite sample behavior can be sensitive to the spatial layout. To overcome this shortcoming, standardized LM tests are suggested. Monte Carlo results show that the new tests possess good finite sample properties. An important observation made throughout this study is that the LM tests for spatial dependence need to be both mean- and variance-adjusted for good finite sample performance to be …


Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon Oct 2010

Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon

Research Collection School Of Economics

Is there a theoretical basis for the view that the end of a period of over-investment necessarily leads to a period of below-normal employment as the excess capital stock is run down? We study the repercussions of a false boom in housing driven by prior expectations of future housing prices not justified by fundamentals. When these expectations are corrected, the result is a precipitous drop in housing prices and, on that account alone, some drop in employment. There is also a bulge in the housing stock. In the closed economy case, the downward shift of the term structure of interest …


Smoothing Local-To-Moderate Unit Root Theory, Peter C. B. Phillips, Tassos Magdalinos, Liudas Giraitis Oct 2010

Smoothing Local-To-Moderate Unit Root Theory, Peter C. B. Phillips, Tassos Magdalinos, Liudas Giraitis

Research Collection School Of Economics

A limit theory is established for autoregressive time series that smooths the transition between local and moderate deviations from unity and provides a transitional form that links conventional unit root distributions and the standard normal. Edgeworth expansions of the limit theory are given. These expansions show that the limit theory that holds for values of the autoregressive coefficient that are closer to stationarity than local (i.e. deviations of the form rho = 1 + c/n, where n is the sample size and c < 0) holds up to the second order. Similar expansions around the limiting Cauchy density are provided for the mildly explosive case. (C) 2010 Elsevier B.V. All rights reserved.


Auditor Reputation And Earnings Management: International Evidence From The Banking Industry, Kanagaretnam Kiridaran, Chee Yeow Lim, Gerald J. Lobo Oct 2010

Auditor Reputation And Earnings Management: International Evidence From The Banking Industry, Kanagaretnam Kiridaran, Chee Yeow Lim, Gerald J. Lobo

Research Collection School Of Accountancy

We examine the relation between auditor reputation and earnings management in banks using a sample of banks from 29 countries. In particular, we examine the implications of two aspects of auditor reputation, auditor type and auditor industry specialization, for earnings management in banks. We find that both auditor type and auditor industry specialization moderate benchmark-beating (loss-avoidance and just-meeting-or-beating prior year’s earnings) behavior in banks. In addition, we find that once auditor type and auditor industry specialization are included in the same tests, only auditor industry specialization has a significant impact on constraining benchmark-beating behavior. In separate tests related to income-increasing …


Youth Olympic Village Co-Space, Zin-Yan Chua, Yilin Kang, Xing Jiang, Kah-Hoe Pang, Andrew C. Gregory, Chi-Yun Tan, Wai-Lun Wong, Ah-Hwee Tan, Yew-Soon Ong, Chunyan Miao Oct 2010

Youth Olympic Village Co-Space, Zin-Yan Chua, Yilin Kang, Xing Jiang, Kah-Hoe Pang, Andrew C. Gregory, Chi-Yun Tan, Wai-Lun Wong, Ah-Hwee Tan, Yew-Soon Ong, Chunyan Miao

Research Collection School Of Computing and Information Systems

We have designed and implemented a 3D virtual world based on the Co-Space concept encompasses the Youth Olympic Village (YOV) and several sports competition venues. It is a massively multiplayer online (MMO) virtual world built according to the actual, physical locations of the YOV and sports competition venues. On top of that, the Co-Space is being populated with human-like avatars, which are created according to the actual human size and appearance; they perform their activities and interact with the users in realworld context. In addition, autonomous intelligent agents are integrated into the Co-Space to provide context-aware and personalized services to …


Online Multiple Kernel Learning: Algorithms And Mistake Bounds, Rong Jin, Steven C. H. Hoi, Tianbao Yang Oct 2010

Online Multiple Kernel Learning: Algorithms And Mistake Bounds, Rong Jin, Steven C. H. Hoi, Tianbao Yang

Research Collection School Of Computing and Information Systems

Online learning and kernel learning are two active research topics in machine learning. Although each of them has been studied extensively, there is a limited effort in addressing the intersecting research. In this paper, we introduce a new research problem, termed Online Multiple Kernel Learning (OMKL), that aims to learn a kernel based prediction function from a pool of predefined kernels in an online learning fashion. OMKL is generally more challenging than typical online learning because both the kernel classifiers and their linear combination weights must be learned simultaneously. In this work, we consider two setups for OMKL, i.e. combining …


Data-Driven Approaches To Community-Contributed Video Applications, Xiao Wu, Chong-Wah Ngo, Wan-Lei Zhao Oct 2010

Data-Driven Approaches To Community-Contributed Video Applications, Xiao Wu, Chong-Wah Ngo, Wan-Lei Zhao

Research Collection School Of Computing and Information Systems

With the prosperity of video-sharing websites such as YouTube, the amount of community-contributed video has increased dramatically. Reportedly more than 65,000 new videos were uploaded to YouTube every day in July 2006 and it's estimated that 20 hours of new videos were uploaded to the site every minute in May 2009. In addition to the huge volume of video data, the social Web provides rich contextual and social resources associated with videos. These resources include title, tags, thumbnails, related videos, and user and community information, as illustrated in Figure 1. While billions of user-generated videos accompanied with rich-media information have …


The European Union And International Maritime Organization: Eu’S External Influence On The Prevention Of Vessel-Source Pollution, Nengye Liu, Frank Maes Oct 2010

The European Union And International Maritime Organization: Eu’S External Influence On The Prevention Of Vessel-Source Pollution, Nengye Liu, Frank Maes

Research Collection Yong Pung How School Of Law

The European Union (EU), with its 27 Member States, has a coastline 70, 000 km along two oceans and four seas. Its well-being is therefore inextricably linked with the sea.' Europe plays a major role in today's shipping world, 41% of the world's total fieet (in dwt) is beneficially controlled by European companies.^ Ensuring that the use of the marine environment is genuinely sustainable is a prerequisite for the EU's sea-related industries to be competitive.


Mining Interesting Link Formation Rules In Social Networks, Cane Wing-Ki Leung, Ee Peng Lim, David Lo, Jianshu Weng Oct 2010

Mining Interesting Link Formation Rules In Social Networks, Cane Wing-Ki Leung, Ee Peng Lim, David Lo, Jianshu Weng

Research Collection School Of Computing and Information Systems

Link structures are important patterns one looks out for when modeling and analyzing social networks. In this paper, we propose the task of mining interesting Link Formation rules (LF-rules) containing link structures known as Link Formation patterns (LF-patterns). LF-patterns capture various dyadic and/or triadic structures among groups of nodes, while LF-rules capture the formation of a new link from a focal node to another node as a postcondition of existing connections between the two nodes. We devise a novel LF-rule mining algorithm, known as LFR-Miner, based on frequent subgraph mining for our task. In addition to using a support-confidence framework …


Cast2face: Character Identification In Movie With Actor-Character Correspondence, Mengdi Xu, Xiaotong Yuan, Jialie Shen, Shuicheng Yan Oct 2010

Cast2face: Character Identification In Movie With Actor-Character Correspondence, Mengdi Xu, Xiaotong Yuan, Jialie Shen, Shuicheng Yan

Research Collection School Of Computing and Information Systems

We investigate the problem of automatically identifying characters in a movie with the supervision of actor-character name correspondence provided by the movie cast. Our proposed framework, namely Cast2Face, is featured by: (i) we restrict the names to assign within the set of character names in the cast; (ii) for each character, by using the corresponding actor's name as a key word, we retrieve from Google image search a group of face images to form the gallery set; and (iii) the probe face tracks in the movie are then identified as one of the actors by robust multi-task joint sparse representation …


The Role Of Emotions In Crisis Responses: Inaugural Test Of The Integrated Crisis Mapping (Icm) Model, Yan Jin, Augustine Pang, Glen T. Cameron Oct 2010

The Role Of Emotions In Crisis Responses: Inaugural Test Of The Integrated Crisis Mapping (Icm) Model, Yan Jin, Augustine Pang, Glen T. Cameron

Research Collection Lee Kong Chian School Of Business

Purpose: The purpose of this paper is to extend current theories in crisis communication, by developing a more systemic approach to understanding the role of emotions in crises and the strategies organizations can use to respond. The authors' integrated crisis mapping (ICM) model is premised on a public-based, emotion-driven perspective where different crises are mapped on two continua, the organization's engagement in the crisis and primary public's coping strategy. Design/methodology/approach: Content analysis was used to analyze 259 stories in US mainstream newspaper covering five different crisis cases. Findings: The initial test suggests theoretical rigor. It found that publics involved in …


Moore’S Paradox, Truth And Accuracy, Mitchell S. Green, John N. Williams Oct 2010

Moore’S Paradox, Truth And Accuracy, Mitchell S. Green, John N. Williams

Research Collection School of Social Sciences

G. E. Moore famously observed that to assert ‘I went to the pictures last Tuesday but I do not believe that I did’ would be ‘absurd’. Moore calls it a ‘paradox’ that this absurdity persists despite the fact that what I say about myself might be true. Krista Lawlor and John Perry have proposed an explanation of the absurdity that confines itself to semantic notions while eschewing pragmatic ones. We argue that this explanation faces four objections. We give a better explanation of the absurdity both in assertion and in belief that avoids our four objections.


Estimating The Garch Diffusion: Simulated Maximum Likelihood In Continuous Time, Tore Selland Kleppe, Jun Yu, Hans J. Skaug Oct 2010

Estimating The Garch Diffusion: Simulated Maximum Likelihood In Continuous Time, Tore Selland Kleppe, Jun Yu, Hans J. Skaug

Research Collection School Of Economics

A new algorithm is developed to provide a simulated maximum likelihood estimation of the GARCH diffusion model of Nelson (1990) based on return data only. The method combines two accurate approximation procedures, namely, the polynomial expansion of Ait-Sahalia (2008) to approximate the transition probability density of return and volatility, and the Efficient Importance Sampler (EIS) of Richard and Zhang (2007) to integrate out the volatility. The first and second order terms in the polynomial expansion are used to generate a base-line importance density for an EIS algorithm. The higher order terms are included when evaluating the importance weights. Monte Carlo …


Bayesian Hypothesis Testing In Latent Variable Models, Yong Li, Jun Yu Oct 2010

Bayesian Hypothesis Testing In Latent Variable Models, Yong Li, Jun Yu

Research Collection School Of Economics

Hypothesis testing using Bayes factors (BFs) is known to suffer from several problems in the context of latent variable models. The first problem is computational. Another problem is that BFs are not well defined under the improper prior. In this paper, a new Bayesian method, based on decision theory and the EM algorithm, is introduced to test a point hypothesis in latent variable models. The new statistic is a by-product of the Bayesian MCMC output and, hence, easy to compute. It is shown that the new statistic is appropriately defined under improper priors because the method employs a continuous loss …


Simulation-Based Estimation Methods For Financial Time Series Models, Jun Yu Oct 2010

Simulation-Based Estimation Methods For Financial Time Series Models, Jun Yu

Research Collection School Of Economics

This paper overviews some recent advances on simulatio n-based methods of estimating time series models and asset pricing models that are widely used in finance. The simulation based methods have proven to be particularly useful when the likelihood function and moments do not have tractable forms and hence the maximum likelihood method (MLE) and the generalized method of moments (GMM) are difficult to use. They can also be useful for improving the finite sample performance of the traditional methods when financial time series are highly persistent and when the quantity of interest is a highly nonlinear function of system parameters.The …


A New Bayesian Unit Root Test In Stochastic Volatility Models, Yong Li, Jun Yu Oct 2010

A New Bayesian Unit Root Test In Stochastic Volatility Models, Yong Li, Jun Yu

Research Collection School Of Economics

A new posterior odds analysis is proposed to test for a unit root in volatility dynamics in the context of stochastic volatility models. This analysis extends the Bayesian unit root test of So and Li (1999, Journal of Business Economic Statistics) in two important ways. First, a numerically more stable algorithm is introduced to compute the Bayes factor, taking into account the special structure of the competing models. Owing to its numerical stability, the algorithm overcomes the problem of diverged “size” in the marginal likelihood approach. Second, to improve the “power” of the unit root test, a mixed prior specification …


Bias-Corrected Estimation For Spatial Autocorrelation, Zhenlin Yang Oct 2010

Bias-Corrected Estimation For Spatial Autocorrelation, Zhenlin Yang

Research Collection School Of Economics

The biasedness issue arising from the maximum likelihood estimation of the spatial autoregressive model (SAR) is further investigated under a broader set-up than that in Bao and Ullah (2007a). A major difficulty in analytically evaluating the expectations of ratios of quadratic forms is overcome by a simple bootstrap procedure. With that, the corrections on bias and variance of the spatial estimator can easily be made up to third-order, and once this is done, the estimators of other model parameters become nearly unbiased. Compared with the analytical approach, the new approach is much simpler, and can easily be extended to other …


Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon Oct 2010

Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon

Research Collection School Of Economics

Is there a theoretical basis for the view that the end of a period of over-investment necessarily leads to a period of below-normal employment as the excess capital stock is run down? We study the repercussions of a false boom in housing driven by prior expectations of future housing prices not justified by fundamentals. When these expectations are corrected, the result is a precipitous drop in housing prices and, on that account alone, some drop in employment. There is also a bulge in the housing stock. In the case of a closed economy, the downward shift of the term structure …


A Study Of Price Evolution In Online Toy Market, Zhenlin Yang, Lydia L Gan, Fang-Fang Tang Oct 2010

A Study Of Price Evolution In Online Toy Market, Zhenlin Yang, Lydia L Gan, Fang-Fang Tang

Research Collection School Of Economics

We study and contrast pricing and price evolution of online only (Dotcom) and online branch of multi-channel retailers (OBMCRs) based on two panel data sets collected from online toy markets. Panel data regression analyses reveal several interesting empirical results: over time, OBMCRs and Dotcoms charge similar prices on average but Dotcoms significantly increase their shipping costs that eventually drive the overall average price of Dotcoms higher than that of OBMCRs. Price dispersions of both types of retailers are persistent. The price dispersion of OBMCRs is higher than that of Dotcoms at the beginning and does not change much over time, …


Detecting Product Review Spammers Using Rating Behaviors, Ee Peng Lim, Viet-An Nguyen, Nitin Jindal, Bing Liu, Hady Wirawan Lauw Oct 2010

Detecting Product Review Spammers Using Rating Behaviors, Ee Peng Lim, Viet-An Nguyen, Nitin Jindal, Bing Liu, Hady Wirawan Lauw

Research Collection School Of Computing and Information Systems

This paper aims to detect users generating spam reviews or review spammers. We identify several characteristic be- haviors of review spammers and model these behaviors so as to detect the spammers. In particular, we seek to model the following behaviors. First, spammers may target specific products or product groups in order to maximize their im- pact. Second, they tend to deviate from the other reviewers in their ratings of products. We propose scoring methods to measure the degree of spam for each reviewer and apply them on an Amazon review dataset. We then select a sub- set of highly suspicious …


Constitutional Fiats: Presidential Legislation In India's Parliamentary Democracy, Shubhankar Dam Oct 2010

Constitutional Fiats: Presidential Legislation In India's Parliamentary Democracy, Shubhankar Dam

Research Collection Yong Pung How School Of Law

The article presents information on the presidential legislation of the parliamentary democracies, India and Pakistan. It discusses the role of the President acting as the Council of Ministers for the enactment of legislations as ordinances without the consent of the Parliament. Information on the legal interpretation of the ordinances and its interaction with the principles of the parliamentary system of the government is also presented.


Lohas: Marketing A Green And Sustainable Way Of Living, Knowledge@Smu Sep 2010

Lohas: Marketing A Green And Sustainable Way Of Living, Knowledge@Smu

Knowledge@SMU

What prompted former corporate warriors like Adam Horler and Tay Lai Hock trade their suits for t-shirts and embrace a new way of life with green and sustainability as its central tenet? It is LOHAS, or Lifestyle of Health and Sustainability, described as a “biggest market you’ve never heard of”. In a recent talk at SMU, Horler and Tay share what is their motivation, what is the appeal of LOHAS, and how are they marketing this concept to bring more converts on board.


Investing Into The Abyss: The Continued Misclassification Of Multi-Sector Managed Funds, John R Watson, N. Allen, Kok Fai Phoon, J. Wickramanayake Sep 2010

Investing Into The Abyss: The Continued Misclassification Of Multi-Sector Managed Funds, John R Watson, N. Allen, Kok Fai Phoon, J. Wickramanayake

Research Collection Lee Kong Chian School Of Business

The objective of this paper is to assess whether Australian multi-sector managed funds are misclassified, and then, having found this to be the case, determine if this misclassification has any impact on fund performance. We adopt a strong form of returns based style analysis to investigate a monthly sample of Australian multi-sector funds over the five-year sample period 2003:04-2008:03. The evidence provided demonstrates that insufficient attention has been paid as to whether fund managers are able to keep within their tactical asset allocation ranges and presents that misclassification exist for Australian multi-sector managed funds but that the effect on fund …


Selecting Predictor Subsets: Considering Validity And Adverse Impact, Wilfred De Corte, Paul Sackett, Filip Lievens Sep 2010

Selecting Predictor Subsets: Considering Validity And Adverse Impact, Wilfred De Corte, Paul Sackett, Filip Lievens

Research Collection Lee Kong Chian School Of Business

The paper proposes a procedure for designing Pareto-optimal selection systems considering validity, adverse impact and constraints on the number of predictors from a larger subset that can be included in an operational selection system. The procedure determines Pareto-optimal composites of a given maximum size thereby solving the dual task of identifying the predictors that will be included in the reduced set and determining the weights with which the retained predictors will be combined to the composite predictor. Compared with earlier proposals, the simultaneous consideration of both tasks makes it possible to combine several strategies for reducing adverse impact in a …


Response Rates In Organizational Science, 1995-2008: A Meta-Analytic Review And Guidelines For Survey Researchers, Frederik Anseel, Filip Lievens, Eveline Schollaert, Beata Choragwicka Sep 2010

Response Rates In Organizational Science, 1995-2008: A Meta-Analytic Review And Guidelines For Survey Researchers, Frederik Anseel, Filip Lievens, Eveline Schollaert, Beata Choragwicka

Research Collection Lee Kong Chian School Of Business

This study expands upon existing knowledge of response rates by conducting a large-scale quantitative review of published response rates. This allowed a fine-grained comparison of response rates across respondent groups. Other unique features of this study are the analysis of response enhancing techniques across respondent groups and response rate trends over time. In order to aid researchers in designing surveys, we provide expected response rate percentiles for different survey modalities.We analyzed 2,037 surveys, covering 1,251,651 individual respondents, published in 12 journals in I/O Psychology, Management, and Marketing during the period 1995-2008. Expected response rate levels were summarized for different types …


Labor Supply Responses To The 1990s Japanese Tax Reforms, Ken Yamada Sep 2010

Labor Supply Responses To The 1990s Japanese Tax Reforms, Ken Yamada

Research Collection School Of Economics

The consumption-leisure choice model implies that an exogenous change in tax rates will induce a change in labor supply. This implication is expected to be important to labor supplied by secondary earners under a progressive tax system when spousal income alters effective marginal tax rates. This paper examines labor supply responses to the income tax changes associated with Japanese tax reforms during the 1990s. The results indicate that the hours-of-work elasticity with respect to the net-of-tax rate is 0.8 for married women.


National Culture And Capital Structure Decisions: Evidence From Foreign Joint Ventures In China, Kai Li, Dale W. Griffin, Heng Yue, Longkai Zhao Sep 2010

National Culture And Capital Structure Decisions: Evidence From Foreign Joint Ventures In China, Kai Li, Dale W. Griffin, Heng Yue, Longkai Zhao

Research Collection School Of Accountancy

We investigate the role of firms’ country of origin in financial leverage decisions using data on foreign joint ventures in China. We hypothesize that national culture enters the joint optimization process leading to foreign joint ventures’ leverage decisions and that it affects leverage decisions both directly and indirectly. Using cultural values of mastery and embeddedness to explain country of origin effects, we find that mastery has negative and significant direct effects on foreign joint ventures’ leverage and short-term debt decisions, and a positive and significant direct effect on the likelihood of foreign joint ventures’ having long-term debt. The indirect effects …


A Hoare Calculus For Graph Programs, Christopher M. Poskitt, Detlef Plump Sep 2010

A Hoare Calculus For Graph Programs, Christopher M. Poskitt, Detlef Plump

Research Collection School Of Computing and Information Systems

We present Hoare-style axiom schemata and inference rules for verifying the partial correctness of programs in the graph programming language GP. The pre- and postconditions of this calculus are the nested conditions of Habel, Pennemann and Rensink, extended with expressions for labels in order to deal with GP’s conditional rule schemata and infinite label alphabet. We show that the proof rules are sound with respect to GP’s operational semantics.


Developing Model Checkers Using Pat, Yang Liu, Jun Sun, Jin Song Dong Sep 2010

Developing Model Checkers Using Pat, Yang Liu, Jun Sun, Jin Song Dong

Research Collection School Of Computing and Information Systems

During the last two decades, model checking has emerged as an effective system analysis technique complementary to simulation and testing. Many model checking algorithms and state space reduction techniques have been proposed. Although it is desirable to have dedicated model checkers for every language (or application domain), implementing one with effective reduction techniques is rather challenging. In this work, we present a generic and extensible framework PAT, which facilitates users to build customized model checkers. PAT provides a library of state-of-art model checking algorithms as well as support for customizing language syntax, semantics, state space reduction techniques, graphic user interfaces, …


On Challenges In Evaluating Malware Clustering, Peng Li, Limin Liu, Debin Gao, Michael K Reiter Sep 2010

On Challenges In Evaluating Malware Clustering, Peng Li, Limin Liu, Debin Gao, Michael K Reiter

Research Collection School Of Computing and Information Systems

Malware clustering and classification are important tools that enable analysts to prioritize their malware analysis efforts. The recent emergence of fully automated methods for malware clustering and classification that report high accuracy suggests that this problem may largely be solved. In this paper, we report the results of our attempt to confirm our conjecture that the method of selecting ground-truth data in prior evaluations biases their results toward high accuracy. To examine this conjecture, we apply clustering algorithms from a different domain (plagiarism detection), first to the dataset used in a prior work's evaluation and then to a wholly new …