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A Direct Test Of Rock's Model Of The Pricing Of Unseasoned Issues, Francis Koh, Terry Walter Aug 1989

A Direct Test Of Rock's Model Of The Pricing Of Unseasoned Issues, Francis Koh, Terry Walter

Research Collection Lee Kong Chian School Of Business

Unique data availability and institutional arrangements for new issues in Singapore allow a direct test of the empirical implications of Rock's model of pricing unseasoned new issues. Our empirical results are consistent with the model. Specifically we find that the unseasoned new issues' anomaly disappears when the rationing associated with new issues is incorporated into the analysis. The winner's curse is evident in allocation patterns used in Singapore.

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Differential Perceptions In Auditing Terms, Pearl Tan, Hian Chye Koh, Aik Meng Low Jul 1989

Differential Perceptions In Auditing Terms, Pearl Tan, Hian Chye Koh, Aik Meng Low

Research Collection School Of Accountancy

This paper investigates the differences in the relative perceptions of auditing terms among groups of accountants, bankers and students. Perceptual models were constructed using multi-dimensional scaling and cluster analysis techniques. The models derived therefrom indicate that there are no major inter-group differences in the relative perceptions of auditing terms. This study does not therefore support the hypothesis that the “expectation gap” between users and preparers of the audit report are caused by semantical problems.

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Competitive Groups As Cognitive Communities: The Case Of The Scottish Knitwear Manufacturers, Joseph F. Porac, Howard Thomas, Charles Baden-Fuller Jul 1989

Competitive Groups As Cognitive Communities: The Case Of The Scottish Knitwear Manufacturers, Joseph F. Porac, Howard Thomas, Charles Baden-Fuller

Research Collection Lee Kong Chian School Of Business

This article explores how the mental models of organizational strategists determine perceptions of competing organizations and responses to competitive conditions. We first outline a cognitive perspective for discussing competitive strategy, and then use this framework to analyse the particular case of the Scottish knitwear industry. We show how the structure of that industry both determines and is determined by managerial perceptions of the environment. We conclude by drawing out a few general implications of our framework for research and theory on competitive strategy.

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Of Codes And Ideology: Some Notes On The Origins Of The Major Criminal Enactments Of Singapore, Andrew B.L. Phang Jul 1989

Of Codes And Ideology: Some Notes On The Origins Of The Major Criminal Enactments Of Singapore, Andrew B.L. Phang

Research Collection Yong Pung How School Of Law

This article, as its title suggests, surveys the historical background to the major criminal enactments of Singapore. As a subsidiary function, it also attempts to illustrate the possible ideology underlying the enactment of one particular statute, viz., the Penal Code - a possibility that might point the way toward broader conclusions as well as studies encompassing the role and function of the law in colonial Singapore from a more general point of view.

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Parity Retransmission Hybrid Arq Using Rate 1/2 Convolutional Codes On A Nonstationary Channel, L. R. Lugand, D. J. Costello, Jr., Robert H. Deng Jul 1989

Parity Retransmission Hybrid Arq Using Rate 1/2 Convolutional Codes On A Nonstationary Channel, L. R. Lugand, D. J. Costello, Jr., Robert H. Deng

Research Collection School Of Computing and Information Systems

A parity retransmission hybrid automatic repeat request (ARQ) scheme is proposed which uses rate 1/2 convolutional codes and Viterbi decoding. A protocol is described which is capable of achieving higher throughputs than previously proposed parity retransmission schemes. The performance analysis is based on a two-state Markov model of a nonstationary channel. This model constitutes a first approximation to a nonstationary channel. The two-state channel model is used to analyze the throughput and undetected error probability of the protocol presented when the receiver has both an infinite and a finite buffer size. It is shown that the throughput improves as the …

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Sugar Coated Bullets: Corruption And The New Economic Order In China, Mark Findlay, Thomas Chor-Wing Chiu Jun 1989

Sugar Coated Bullets: Corruption And The New Economic Order In China, Mark Findlay, Thomas Chor-Wing Chiu

Research Collection Yong Pung How School Of Law

The recent political debate concerning the influence of corruption on the “new economic order” in the People's Republic of China is unique not only for its detailed and public manifestations, but also because it works around the acceptance of some degree of corporate private ownership of the means of production within China. The concern for corruption in Chinese government and commerce is not, of itself, novel.We prefer in this paper briefly to focus on the economic and political environment from within which this concern has been generated, to comment on the significance for the Government of the PRC in associating …

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High Rate Concatenated Coding Systems Using Bandwidth Efficient Trellis Inner Codes, Robert H. Deng, D. J. Costello, Jr. May 1989

High Rate Concatenated Coding Systems Using Bandwidth Efficient Trellis Inner Codes, Robert H. Deng, D. J. Costello, Jr.

Research Collection School Of Computing and Information Systems

High-rate concatenated coding systems with bandwidth-efficient trellis inner codes and Reed-Solomon (RS) outer codes are investigated for application in high-speed satellite communication systems. Two concatenated coding schemes are proposed. In one the inner code is decoded with soft-decision Viterbi decoding, and the outer RS code performs error-correction-only decoding (decoding without side information). In the other the inner code is decoded with a modified Viterbi algorithm, which produces reliability information along with the decoded output. In this algorithm, path metrics are used to estimate the entire information sequence, whereas branch metrics are used to provide reliability information on the decoded sequence. …

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Parameter Non-Stationarity In A Model To Estimate The Business Value Of Information Technology, Robert J. Kauffman Apr 1989

Parameter Non-Stationarity In A Model To Estimate The Business Value Of Information Technology, Robert J. Kauffman

Research Collection School Of Computing and Information Systems

Developing robust and refined measures to quantify strategic impacts is a major challenge facing researchers who seek to improve methods for IT investment evaluation. This paper presents a means to test for parameter "non-stationarity" in a model which quantifies the strategic contribution of IT. An iterative "jackknife" procedure is used to diagnose if different local competitive and demographic conditions present in branch banking enhance or suppress leverage on deposit market share associated with membership in an ATM network. Preliminary results suggest this approach will be useful for managers who need to evaluate similar ITs which operate in different environments.

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Remote Sensing And Diplomacy, Ann Florini Apr 1989

Remote Sensing And Diplomacy, Ann Florini

Research Collection School of Social Sciences

The advent of a variety of commercial and national remote-sensing satellites has eliminated a long-standing superpower monopoly on a key source of information about global events. As these systems proliferate, it will become increasingly difficult to maintain secrecy about certain sensitive activities. Nations other than the superpowers will be able independently to verify compliance with arms control accords, and to monitor global “hot spots.” These new capabilities both reflect and contribute to an inevitable diffusion of power among nations. Although there will be adjustment costs, particularly for the superpowers, the enhanced global transparency is likely to promote global stability and …

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Measuring The Unjust Enrichment In A Restitution, Howard Hunter Mar 1989

Measuring The Unjust Enrichment In A Restitution, Howard Hunter

Research Collection Yong Pung How School Of Law

Unjust enrichment is a theme common to most restitution cases in the United States. The theory of recovery is based on a justice principle the disgorgement of an unfairly obtained gain. The goal, in general, is to require the defendant to give up his gain rather than to compensate the plaintiff for a loss, as in a tort case, or to substitute damages for an unfulfilled expectancy, as in a contract case. This paper examines some of the issues that surround the measurement of the unjust enrichment and the defendant's liability. There are a number of straightforward rules for the …

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Flexibility: The Next Competitive Battle: The Manufacturing Futures Survey, Arnoud De Meyer, Jinichiro Nakane, Jeffrey M. Miller, Kasra Ferdows Mar 1989

Flexibility: The Next Competitive Battle: The Manufacturing Futures Survey, Arnoud De Meyer, Jinichiro Nakane, Jeffrey M. Miller, Kasra Ferdows

Research Collection Lee Kong Chian School Of Business

Over the past 4 years research teams from INSEAD (Fontainebleau), Boston University and Waseda University (Tokyo) have administered a yearly survey on the manufacturing strategy of the large manufacturers of the three industrialized regions of the world. In this paper the results for the 1986 survey are compared. One of the most striking results of that year’s survey is the emphasis some of the more advanced manufacturers put on their efforts to overcome the trade-off between flexibility and cost efficiency. In particular for the Japanese respondents these attempts become clear. Europeans and North Americans are not yet seizing the opportunity …

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Book Reviews: Australasian Computerised Legal Information Handbook, G.W. Greenleaf, A.S. Mowbray, D.P. Lewis. Sydney, Butterworths, 1988, Elizabeth Barbara Naumczyk Jan 1989

Book Reviews: Australasian Computerised Legal Information Handbook, G.W. Greenleaf, A.S. Mowbray, D.P. Lewis. Sydney, Butterworths, 1988, Elizabeth Barbara Naumczyk

Research Collection Library

No abstract provided.

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Welfare, Contract, And The Language Of Charity, Chandran Kukathas Jan 1989

Welfare, Contract, And The Language Of Charity, Chandran Kukathas

Research Collection School of Social Sciences

No abstract provided.

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Discourse And Perspective In Daoism: A Linguistic Interpretation Of Ziran, William A. Callahan Jan 1989

Discourse And Perspective In Daoism: A Linguistic Interpretation Of Ziran, William A. Callahan

Research Collection School of Social Sciences

In Chinese philosophical literature, the term zirana is generally rendered as "spontaneity," "natural," or "self-so" by both Chinese and Western trans- lators. I think that these translations not only miss the point being made in the texts, but actually serve to obscure it

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High Tech And Labour In The Asian Nics, Eng Fong Pang, L. Y. C. Lim Jan 1989

High Tech And Labour In The Asian Nics, Eng Fong Pang, L. Y. C. Lim

Research Collection Lee Kong Chian School Of Business

No abstract provided.

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Voting Behaviour In Singapore: A Preliminary Investigation From A Multi-Attribute Attitudinal Perspective, S. M. Leong, Chin Tiong Tan, K. C. Wong Jan 1989

Voting Behaviour In Singapore: A Preliminary Investigation From A Multi-Attribute Attitudinal Perspective, S. M. Leong, Chin Tiong Tan, K. C. Wong

Research Collection Lee Kong Chian School Of Business

The multi-attribute attitude model is employed to study voter behaviour in Singapore. Specifically, a set of beliefs of the personal attributes of political candidates considered important to voters was examined. Results indicated that such beliefs did predict voters' affective evaluation and intention to vote for a typical political candidate reasonably well. Implications of the findings are discussed and suggestions for future research provided.

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Quantum Meruit And Building Contracts: Part I The Quantum Meruit Concept, Howard Hunter, J. W. Carter Jan 1989

Quantum Meruit And Building Contracts: Part I The Quantum Meruit Concept, Howard Hunter, J. W. Carter

Research Collection Yong Pung How School Of Law

The aim of this article is to discuss the restitutionary principles applicable to quantum meruit claims in building contracts. In the first part we consider the concept itself and identify the contexts in which such a claim is pursued. In the second part of the article, to be published in the next issue of the JCL, attention is directed, principally, to one issue, namely whether the contract price constitutes a ceiling on the amount recoverable under a quantum meruit claim following breach by the defendant.

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Quantum Meruit And Building Contracts: Part Ii Does The Contract Price Put A Ceiling On A Recovery Via A Quantum Meruit?, Howard Hunter, J. W. Carter Jan 1989

Quantum Meruit And Building Contracts: Part Ii Does The Contract Price Put A Ceiling On A Recovery Via A Quantum Meruit?, Howard Hunter, J. W. Carter

Research Collection Yong Pung How School Of Law

The question posed by the title of this part of the article has been the subject of a substantial amount of commentary by American legal scholars and has been a central issue in a number of cases, almost all of them involving building contracts. The problem is easy to state: P and D have an agreement for P to construct a building for a total consideration of $X. When P is partially finished, D breaches. If the contract price and the value of the work to date roughly coincide, there is usually little problem in determining P's recovery. The standard …

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Common Mistake In English Law: The Proposed Merger Of Common Law And Equity, Andrew B.L. Phang Jan 1989

Common Mistake In English Law: The Proposed Merger Of Common Law And Equity, Andrew B.L. Phang

Research Collection Yong Pung How School Of Law

Although the law relating to common mistake’ has engendered a plethora of conundrums, many problem areas have in fact been well-traversed in the literature.‘ The present article does not seek to re-cover such welltrodden ground, but attempts, instead, to suggest a different and more systematic approach that would effect a merger of the common law and equitable3 branches of common mistake into one coherent, doctrine.

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Of Generality And Specificity – A Suggested Approach Toward The Development Of An Autochthonous Singapore Legal System, Andrew B.L. Phang Jan 1989

Of Generality And Specificity – A Suggested Approach Toward The Development Of An Autochthonous Singapore Legal System, Andrew B.L. Phang

Research Collection Yong Pung How School Of Law

This very brief essay seeks to sketch out as well as consider an approach toward legal analysis and reasoning that would aid in the development of an autochthonous Singapore legal system, ' and that, in any event, would probably also be relevant even in more generalized ad hoc situations. It is assumed that many, if not most, of those involved in the discipline of Singapore law desire the construction of an autochthonous legal system, although the skeptic might find - as just mentioned - the approach suggested here of some utility as well.

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An Economic Analysis Of Fertility, Market Participation And Marriage Behaviour In Recent Japan, David K. C. Lee, Chin Lee Gan Jan 1989

An Economic Analysis Of Fertility, Market Participation And Marriage Behaviour In Recent Japan, David K. C. Lee, Chin Lee Gan

Research Collection Lee Kong Chian School Of Business

This is the 1st attempt in modelling fertility, labor force participation and marriage rate using Japanese data. The authors use Butz and Ward's model and extend it to a simultaneous equation system as in the case of Winegarden. Although the estimates obtained by Full Information Maximum Likelihood and Three Stage Least Squares of the model are statistically significant, some of the signs of the estimates are not consistent to a priori predictions. The crux of the model is that an increase in the wages of men has an unambiguous positive effect on fertility, whereas an increase in wages of women …

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Diversity, Diversification And Profitability Among British Manufacturing Companies, 1972-1984, Robert M. Grant, Azar P. Jammine, Howard Thomas Dec 1988

Diversity, Diversification And Profitability Among British Manufacturing Companies, 1972-1984, Robert M. Grant, Azar P. Jammine, Howard Thomas

Research Collection Lee Kong Chian School Of Business

This study investigated the causal relationships between diversity, diversification, and profitability among 304 large British manufacturing companies that differed in both product and multinational diversity. Diversity and profitability were positively related up to a point; after that point, increases in product diversity were associated with declining profitability. The results were unclear with respect to the underlying causal relationships. Product diversification did not increase profitability, and there was limited evidence that profitability promoted diversification. For multinational diversification, however, we found that profitability in the home market encouraged overseas expansion that in turn increased profitability.

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The Rate Of Return Under Re-Capitalization: A Note, Mohamed Ariff, Kian Guan Lim Oct 1988

The Rate Of Return Under Re-Capitalization: A Note, Mohamed Ariff, Kian Guan Lim

Research Collection Lee Kong Chian School Of Business

The article discusses issues related to variations in rate of return of stocks under re-capitalization. Share returns are commonly adjusted for re-capitalization by distributing the difference between market and exercise prices over the number of shares. Re-capitalization is said to occur when the total amount of equity capital or number of shares in a firm changes. New issues usually take the form of bonus issues or new paid-up issues called rights issues, which do not change the amount of equity.

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Book Reviews: The Study Of Law Edited By J. F. Corkery, Elizabeth Barbara Naumczyk Sep 1988

Book Reviews: The Study Of Law Edited By J. F. Corkery, Elizabeth Barbara Naumczyk

Research Collection Library

No abstract provided.

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The Opening Skies: Third-Party Imaging Satellites And U.S. Security, Ann Florini Sep 1988

The Opening Skies: Third-Party Imaging Satellites And U.S. Security, Ann Florini

Research Collection School of Social Sciences

Earth observation satellites, long a mainstay of U.S. intelligence-gathering, are now presenting new challenges for U.S. national security. The United States and the Soviet Union have long since reconciled themselves to being spied on by each other from space. Now, however, the advent of imaging satellite systems owned and operated by a variety of third parties, including governments other than the superpowers (France, Canada, the European Space Agency, India, and China) and private companies, is raising new concerns for U.S. peacetime foreign relations and military activities, and for crisis management and war- time operations. These new satellites, primarily civilian remote-sensing …

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European Manufacturers: The Dangers Of Complacency, Kasra Ferdows, Arnoud De Meyer Sep 1988

European Manufacturers: The Dangers Of Complacency, Kasra Ferdows, Arnoud De Meyer

Research Collection Lee Kong Chian School Of Business

Recent trends in the activities of a sample of European manufacturers are analysed in this paper. The data have been collected through annual surveys in the last five years, and in particular, the results of the 1987 survey (222 responses received in the first trimester of 1987) have been analysed in more depth. The priorities set for the development of varions types of capabilities in manufacturing (related to quality, delivery, flexibility, cost, etc.), and the specific programmes under implementation for improvement of manufacturing performance which are receiving highest attention are described. Through correlation analyses, statisically significant associations between specific improvement …

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Dc-Free Coset Codes, Robert H. Deng, M. A. Herro Jul 1988

Dc-Free Coset Codes, Robert H. Deng, M. A. Herro

Research Collection School Of Computing and Information Systems

An upper bound on the bit-error probability (BEP) of a linear cyclic code over GF(2l) with hard-decision (HD) maximum-likelihood (ML) decoding on memoryless symmetric channels is derived. Performance results are presented for Reed-Solomon codes on GF(32), GF(64), and GF(128). Also, a union upper bound on the BEP of a linear cyclic code with either hard- or soft-decision ML decoding is developed, as well as the corresponding bounds for the extended code of a linear cyclic code. Using these bounds, which are tight at low bit error rate, the performance advantage of soft-decision (SD) ML and HD ML over bounded-distance (BD) …

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German, French And British Manufacturing Strategies Compared: A Growth Towards Each Other, Arnoud De Meyer Jul 1988

German, French And British Manufacturing Strategies Compared: A Growth Towards Each Other, Arnoud De Meyer

Research Collection Lee Kong Chian School Of Business

Manufacturing has gained over the last years in attention as a tool to create competitive advantage. For four years now a survey has been carried out by a research team at Insead to build a database on the manufacturing strategies as they are defined and implemented by large European companies. In this paper some of the 1987 data are presented, and a comparison of manufacturing strategies of large companies in the three most important European countries is made. Though the most important conclusion is that there are only slight differences between the three countries, one can see some difference in …

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Flexibility And Fms: An Empirical Analysis, Mihkel Tombak, Arnoud De Meyer May 1988

Flexibility And Fms: An Empirical Analysis, Mihkel Tombak, Arnoud De Meyer

Research Collection Lee Kong Chian School Of Business

It is shown how the concerns of the managers of firms with flexible manufacturing system projects (FMS) differ from those of manufacturing firms without FMS projects. An economic model is developed from which two hypotheses are obtained. The first hypothesis is that firms were investing in FMS to deal with the variance in their inputs. The second proposition is that firms wished to use FMS to deal with the variance in their outputs. Through an analysis of manufacturing survey data it was found that firms planning to implement FMS were statistically more concerned about vendor quality and vendor lead times …

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Confucius, Mencius And The Notion Of True Succession, John N. Williams Apr 1988

Confucius, Mencius And The Notion Of True Succession, John N. Williams

Research Collection School of Social Sciences

No abstract provided.

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