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Effects Of Electronic Trading On The Hang Seng Index Futures Market, Joseph Fung, Donald Lien, Yiuman Tse, Yiu Kuen Tse Jan 2003

Effects Of Electronic Trading On The Hang Seng Index Futures Market, Joseph Fung, Donald Lien, Yiuman Tse, Yiu Kuen Tse

Research Collection School Of Economics

This paper investigates the effects of the migration of the Hang Seng Index futures from open-outcry trading to electronic trading. Using trade data over a window of six months we find evidence that, after the migration, the bid-ask spread of the futures contract decreases and the contribution of the futures price in information transmission increases. Furthermore, the asymmetry in volatility spillover reduces and the open interests of the futures market become smaller. These results suggest that the anonymity in trading and the higher speed of order execution in the electronic trading system attract informed traders to the futures market and …

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A New Node Centroid Algorithm For Bandwidth Minimization, Brian Rodrigues, F. Xiao, A. Lim Jan 2003

A New Node Centroid Algorithm For Bandwidth Minimization, Brian Rodrigues, F. Xiao, A. Lim

Research Collection Lee Kong Chian School Of Business

We propose a Node Centroid method with Hill-Climbing to solve the well-known matrix band-width minimization problem, which is to permute rows and columns of the matrix to minimize its bandwidth. Many heuristics have been developed for this NP-complete problem including the Cuthill-McKee (CM) and the Gibbs, Poole and Stockmeyer (GPS) algorithms. Recently, heuristics such as Simulated Annealing, Tabu Search and GRASP have been used, where Tabu Search and the GRASP with Path Relinking have achieved significantly better solution quality than the CM and GPS algorithms. Experimentation shows that the Node Centroid method achieves the best solution quality when compared with …

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Validity And Obligation In Natural Law Theory, Seow Hon Tan Jan 2003

Validity And Obligation In Natural Law Theory, Seow Hon Tan

Research Collection Yong Pung How School Of Law

The relation between law and morality is a point of contention amongst legal philosophers. There are several issues: first, the extent to which law should incorporate moral standards; second, the effect of moral status on legal validity (the "validity question"); third, the effect of legal validity on the obligation created by the law (the "obedience question"). Because most positivists concede that it is desirable for law to accord with notions of justice and morals and that law often incorporates morals, the first issue features less prominently in the positivism-natural law debate. This article examines John Finnis's views on the latter …

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Evolving Great Universities In Small And Developing Countries, Eng Fong Pang, Linda Y. C. Lim Jan 2003

Evolving Great Universities In Small And Developing Countries, Eng Fong Pang, Linda Y. C. Lim

Research Collection Lee Kong Chian School Of Business

These are challenging times for most universities, particularly public universities in developing countries. Budget constraints have compelled many to cut costs and programs. At the same time, changing expectations have thrust upon them new functions and roles. In East Asia, for example, public universities are expected to become more research oriented and link up with industry to enhance national economic competitiveness. To do so effectively, it is assumed they must aspire to “world-class” status and transform themselves into institutions that can compare favorably with the best in the West.

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The Concept Of A Middle Power In International Relations: Distinguishing Between Emerging And Traditional Middle Powers, Eduard Jordaan Jan 2003

The Concept Of A Middle Power In International Relations: Distinguishing Between Emerging And Traditional Middle Powers, Eduard Jordaan

Research Collection School of Social Sciences

This article seeks to develop a distinction between emerging and traditional middle powers as a means to giving the concept of a middle power greater analytical clarity. All middle powers display foreign policy behaviour that stabilises and legitimises the global order, typically through multilateral and cooperative initiatives. However, emerging and traditional middle powers can be distinguished in terms of their mutually-influencing constitutive and behavioural differences. Constitutively, traditional middle powers are wealthy, stable, egalitarian, social democratic and not regionally influential. Behaviourally, they exhibit a weak and ambivalent regional orientation, constructing identities distinct from powerful states in their regions and offer appeasing …

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The Integrated Networks Model: Explaining Resource Allocations In Network Markets, Judy K. Frels, Tasadduq Shervani, Rajendra Kumar Srivastava Jan 2003

The Integrated Networks Model: Explaining Resource Allocations In Network Markets, Judy K. Frels, Tasadduq Shervani, Rajendra Kumar Srivastava

Research Collection Lee Kong Chian School Of Business

The last decade has witnessed a shift from a focus on the value created by a single firm and product to an examination of the value created by networks of firms (or product ecosystems) in which assets are comingled with external entities. The authors examine these market-based assets in the context of network markets and propose an Integrated Networks model in which three types of networks-user, complements, and producer-add value or enhance the attractiveness of the associated focal product. The authors empirically test the proposed model by surveying information technology professionals on their resource allocation decisions regarding the Unix and …

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Exclusion Bias In Sample-Selection Model Estimators, Myoung-Jae Lee Jan 2003

Exclusion Bias In Sample-Selection Model Estimators, Myoung-Jae Lee

Research Collection School Of Economics

Exclusion restrictions are routinely used in sample-selection models with selection and outcome equations. A false restriction, however, can cause an exclusion bias for the outcome equation estimator. In this paper, the specific form of the exclusion bias is derived for various sample-selection model estimators. Furthermore, it is shown that the outcome equation parameters for regressors with zero coefficients in the selection equation are immune to exclusion bias if only one regressor is excluded. Exclusion bias, or a lack thereof, is verified through a simulation study with the regressors taken from Mroz (1987). JEL Classification Numbers: C24, C34. [ABSTRACT FROM AUTHOR]

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The Integrated Networks Model: Explaining Resource Allocations In Networked Markets, Judy K. Frels, Tasadduq Shervani, Rajendra Kumar Srivastava Jan 2003

The Integrated Networks Model: Explaining Resource Allocations In Networked Markets, Judy K. Frels, Tasadduq Shervani, Rajendra Kumar Srivastava

Research Collection Lee Kong Chian School Of Business

The last decade has witnessed a shift from a focus on the value created by a single firm and product to an examination of the value created by networks of firms (or product ecosystems) in which assets are comingled with external entities. The authors examine these market-based assets in the context of network markets and propose an Integrated Networks model in which three types of networks—user, complements, and producer—add value or enhance the attractiveness of the associated focal product. The authors empirically test the proposed model by surveying information technology professionals on their resource allocation decisions regarding the Unix and …

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Competitiveness And Price Convergence On The Internet: Evidence From The Online Dvd Market, Xiaolin Xing, Fang Fang Tang, Zhenlin Yang Jan 2003

Competitiveness And Price Convergence On The Internet: Evidence From The Online Dvd Market, Xiaolin Xing, Fang Fang Tang, Zhenlin Yang

Research Collection School Of Economics

We compare the pricing behavior between online branches of traditional retailers (MCR) and pure Internet retailers (Dotcom) in the DVD market. Based on a set of panel data from July 5, 2000 to June 11, 2001, we find that the average price of the MCRs is about 11.2% higher than that of the Dotcoms. Further statistical analyses on the market dynamics of price trends show that the prices of the Dotcoms went up with time much faster than the prices of the MCRs, which points to a possibility that eventually both types of retailers may charge similar prices on average. …

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The Effect Of Taxes On The Pricing Of Defaultable Debt, Kian Guan Lim, Fenghua Song, Mitchell Craig Warachka Jan 2003

The Effect Of Taxes On The Pricing Of Defaultable Debt, Kian Guan Lim, Fenghua Song, Mitchell Craig Warachka

Research Collection Lee Kong Chian School Of Business

Empirical studies have documented the dependence of corporate credit spreads on default risk, equity premiums, and taxes. However, taxes have previously not been incorporated into reduced-form credit risk models. Therefore, we first extend the existing literature by considering a default intensity that depends on taxes as well as the default-free short rate and a market index. Consequently, we establish a theoretical basis to explain previous empirical findings regarding the significant impact of taxation on defaultable bond prices. Unlike previous models, tax implications for defaultable debt cannot be constructed from a sum of tax effects on zero coupon bonds. Our empirical …

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Developmental Financial Institutions As Technology Policy Instruments: Implications For Innovation And Entrepreneurship In Emerging Economies, Gerard George, Ganesh N. Prabhu Jan 2003

Developmental Financial Institutions As Technology Policy Instruments: Implications For Innovation And Entrepreneurship In Emerging Economies, Gerard George, Ganesh N. Prabhu

Research Collection Lee Kong Chian School Of Business

Developmental financial institutions (DFIs) in emerging economies regularly assess new technology platforms to support their investments in new ventures, established firms, and technology institutions (TIs). Their financing decisions are guided by national priorities such as achieving technological self-reliance. By providing attractive financing options and related support, DFIs are well placed to consciously channel finance into designated priority technology areas. To better understand DFI roles, we conducted multiple interviews with participants affiliated with DFIs, firms and TIs in India. From data gathered from these interviews and secondary data on DFIs in emerging economies, we develop a preliminary framework to suggest that …

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Instance Based Attribute Identification In Database Integration, Ee Peng Lim, Cecil Chua, Roger Hsiang-Li Chiang Jan 2003

Instance Based Attribute Identification In Database Integration, Ee Peng Lim, Cecil Chua, Roger Hsiang-Li Chiang

Research Collection School Of Computing and Information Systems

Most research on attribute identification in database integration has focused on integrating attributes using schema and summary information derived from the attribute values. No research has attempted to fully explore the use of attribute values to perform attribute identification. We propose an attribute identification method that employs schema and summary instance information as well as properties of attributes derived from their instances. Unlike other attribute identification methods that match only single attributes, our method matches attribute groups for integration. Because our attribute identification method fully explores data instances, it can identify corresponding attributes to be integrated even when schema information …

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Enterprise-Wide Strategic Information Systems Planning For Shanghai Bell Corporation, Y. Long, Fiona Fui-Hoon Nah, Z. Zhu Jan 2003

Enterprise-Wide Strategic Information Systems Planning For Shanghai Bell Corporation, Y. Long, Fiona Fui-Hoon Nah, Z. Zhu

Research Collection School Of Computing and Information Systems

In response to increasing competition and technological advancement, Shanghai Bell Co., Ltd., a leading telecommunications enterprise located in Shanghai, China, carried out a major initiative to develop its next generation Information Technology/Information Systems (IT/IS) strategic plan. The initiative was prompted by limitations of its current enterprise application systems where the systems were neither able to keep up with the evolving needs due to organizational change nor satisfy the increasing demands for information sharing and data analysis. This case describes the environmental and organizational context of Shanghai Bell Corporation, and the problems and challenges it encountered in developing an enterprise-wide strategic …

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Managing Project Uncertainty: From Variation To Chaos, Arnoud De Meyer, Christoph H. Loch, Michael T. Pich Dec 2002

Managing Project Uncertainty: From Variation To Chaos, Arnoud De Meyer, Christoph H. Loch, Michael T. Pich

Research Collection Lee Kong Chian School Of Business

The article cites a study finding that accurately gauging the degree of uncertainty inherent in the projects can help project managers quickly adapt to it. Researchers studied 16 projects in areas including personal-computer development, telecommunications, Internet startups, pharmaceutical development, iron-ore processing, airship development, and building construction, to examine risk management and project outcomes. They found that most managers failed to recognize that there are different types of uncertainty, each requiring a different management approach. This paper explores uncertainty-based management, which derives planning, monitoring and management style from an uncertainty profile comprising four types of uncertainty: variation, foreseen uncertainty, unforeseen uncertainty, …

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Situational Tests In Student Selection: An Examination Of Predictive Validity, Adverse Impact, And Construct Validity, Filip Lievens, Pol Coetsier Dec 2002

Situational Tests In Student Selection: An Examination Of Predictive Validity, Adverse Impact, And Construct Validity, Filip Lievens, Pol Coetsier

Research Collection Lee Kong Chian School Of Business

The Flemish Admission Exam 'Medical and Dental Studies' is comprised of four cognitive ability tests and four situational tests, namely two work samples (i.e., a lecture and a medical text) and two video-based situational judgement tests (i.e., a physician-patient interaction and a medical expert discussion). On the basis of the Admission Exam scores of 941 candidates (359 men, 582 women) this study shows that situational tests significantly can predict better than cognitive ability tests, with lecture and text emerging as significant predictors. When situational tests are combined with cognitive ability tests, there are no mean gender differences. Situational tests also …

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Management Consultancy: Issues, Perspectives, And Agendas [Preface], Robin Fincham, Timothy Adrian Robert Clark Dec 2002

Management Consultancy: Issues, Perspectives, And Agendas [Preface], Robin Fincham, Timothy Adrian Robert Clark

Research Collection Lee Kong Chian School Of Business

This issue of International Studies of Management and Organizationbrings together five articles that reflect the rich array of contemporaryresearch that is being conducted into the activities of the managementconsultancy industry. Management consultancy, in various forms, has existed foras long as complex organizations. However, its increasing economicsignificance, associated with the rapid expansion in the number ofconsultancies and the rise of large multinational consultancy firms, as well asthe influence and impact of the fashionable management knowledge and techniqueson which much of their work is based, are more recent phenomena. To date,detailed conceptual and empirical research into the work of consultants hasbeen slight …

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Survey Article: Multiculturalism As Fairness: Will Kymlicka's Multicultural Citizenship, Chandran Kukathas Dec 2002

Survey Article: Multiculturalism As Fairness: Will Kymlicka's Multicultural Citizenship, Chandran Kukathas

Research Collection School of Social Sciences

According to Will Kymlicka's book Multicultural Citizenship: A Liberal Theory of Minority Rights, `the liberal ideal is a society of free and equalindividuals'.1 But what, he goes on to ask, is the relevant `society'? The answer he says most people would give is `their nation'. `The sort of freedom and equality they most value, and can make use of is freedom and equality within their own societal culture'. Indeed, most people `are willing to forgo a wider freedom and equality to ensure the continued existence of their nation' (93). Thus few favour open borders which allow people freely to settle, …

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The Culture Of Technology Of Singapore, Alwyn Lim Dec 2002

The Culture Of Technology Of Singapore, Alwyn Lim

Research Collection School of Social Sciences

The objective of this paper is to map the sociological context in which the cultural economy of technology of Singapore exists. Taking a socio-histori cal perspective, this paper argues that the development of Singapore as a technological 'intelligent island' must take centre stage in relation to the soci ological analysis of modern Singapore's political, economic, and socio-cultural structure. This involves a critique of theories of the information society and empirical research on East Asian developmental states. The aim is to chart the development of technology in Singapore, from its founding as a colonial port-city to its current status as an …

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Residual-Based Diagnostics For Conditional Heteroscedasticity Models, Yiu Kuen Tse Dec 2002

Residual-Based Diagnostics For Conditional Heteroscedasticity Models, Yiu Kuen Tse

Research Collection School Of Economics

We examine the residual–based diagnostics for univariate and multivariate conditional heteroscedasticity models. The tests are based on the parameter estimates of an autoregression with the squared standardized residuals or the cross products of the standardized residuals as dependent variables. As the regression involves estimated regressors the standard distribution theories of the ordinary least squares estimates do not apply. We provide the asymptotic variance of the regression estimates. Diagnostic statistics, which are asymptotically distributed as ?[sup 2], are constructed. A Monte Carlo experiment is conducted to investigate the finite–sample properties of the residual–based tests for both univariate and multivariate models. The …

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Motion Retrieval By Temporal Slices Analysis, Chong-Wah Ngo, Chong-Wah Ngo, Hong-Jiang Zhang Dec 2002

Motion Retrieval By Temporal Slices Analysis, Chong-Wah Ngo, Chong-Wah Ngo, Hong-Jiang Zhang

Research Collection School Of Computing and Information Systems

In this papel; we investigate video shots retrieval based on the analysis of temporal slice images. Temporal slices are a set of2D images extracted along the time dimension of image sequences. They encode rich set of motion clues for shot similarity measure. Because motion is depicted as texture orientation in temporal slices, we utilize various texture features such as tensor histogram, Gabor feature, and the statistical feature of co-occurrence matrix extracted directly from slices for motion description and retrieval. In this way, motion retrieval can be treated in a similar way as texture retrieval problem. Experimental results indicate that the …

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A Data Mining Approach To Library New Book Recommendations, San-Yih Hwang, Ee Peng Lim Dec 2002

A Data Mining Approach To Library New Book Recommendations, San-Yih Hwang, Ee Peng Lim

Research Collection School Of Computing and Information Systems

In this paper, we propose a data mining approach to recommending new library books that have never been rated or borrowed by users. In our problem context, users are characterized by their demographic attributes, and concept hierarchies can be defined for some of these demographic attributes. Books are assigned to the base categories of a taxonomy. Our goal is therefore to identify the type of users interested in some specific type of books. We call such knowledge generalized profile association rules. In this paper, we propose a new definition of rule interestingness to prune away rules that are redundant and …

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Like Deja Vu All Over Again: The Hungarian Parliamentary Elections Of 2002, Kenneth Benoit Dec 2002

Like Deja Vu All Over Again: The Hungarian Parliamentary Elections Of 2002, Kenneth Benoit

Research Collection School of Social Sciences

On 7 and 21 April 2002, Hungary went to the polls to vote in its fourth competitive election since the transition to a multi-party system in 1989. Voting took place in two rounds, first on 7 April in 176 single-member districts and 20 proportional list districts, and then on 21 April in a run-off in the 131 single-member districts that had not yielded a majority candidate in the first round. The result was a surprise to nearly everyone. First, surpassing all expectations, turnout exceeded 70 per cent of the registered electorate, higher than in any previous election in Hungary. Second, …

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Food Groups And The Risk Of Colorectal Carcinoma In An Asian Population, Adeline Seow, Stella Quah, Denis Nyam, Paulin Tay Straughan, Terrence Chua, Tar-Choon Aw Dec 2002

Food Groups And The Risk Of Colorectal Carcinoma In An Asian Population, Adeline Seow, Stella Quah, Denis Nyam, Paulin Tay Straughan, Terrence Chua, Tar-Choon Aw

Research Collection School of Social Sciences

BACKGROUND. Singapore Chinese have experienced a rapid transition toward a pattern of disease in which lifestyle-related, chronic, degenerative diseases are major public health concerns. The rates of colorectal carcinoma have increased 2-fold over the last 3 decades. It has long been known that dietary factors play a role in the risk of this disease, although studies in Asian populations, with their unique dietary intake, have been few.METHODS. The authors conducted a population-based case-control study that included 121 Chinese patients with colorectal carcinoma and 222 healthy control participants who provided information on usual intake of major food groups in the preceding …

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Legal Environment For Technology Transfer In Taiwan, Kung-Chung Liu Dec 2002

Legal Environment For Technology Transfer In Taiwan, Kung-Chung Liu

Research Collection Yong Pung How School Of Law

In an effort to become an industrialized country, Taiwan, the Republic of China (ROC) has relied heavily on technology transfers and investment from abroad. The Taiwanese government adopted a heavy-handed policy of regulating investments made by foreigners and overseas Chinese in 1954. These policies include the Foreigner Investment Act (FIA) and the Overseas Chinese Investment Act (OCIA), which require all foreigners and overseas Chinese to obtain the Ministry of Economic Affairs (MOEA) approval prior to making any investments.1 Such investments may also be in the form of patents, trademarks, copyright, know-how, and other intellectual property (IP).2 In 1962, the Technology …

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Is Ricardo's Essay On Profits A Precursor Of The New Trade Theory?, Hian Teck Hoon Dec 2002

Is Ricardo's Essay On Profits A Precursor Of The New Trade Theory?, Hian Teck Hoon

Research Collection School Of Economics

This paper carefully analyzes a passage of Ricardo’s Essay on Profits ([1815] 1923), which suggests that he clearly understood the effects of both interindustry as well as intraindustry trade. In the context of the Essay model, Ricardo argues that free interindustry trade involving an exchange of manufactures for agricultural good (from England’s point of view) raises the rate of profit through lowering the relative price of the agricultural good. On the other hand, where trade involves simply an exchange of manufactures for manufactures, these being produced under conditions of economies of scale (division of labour in manufactures (pg. 25 of …

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Resource Annotation Framework In A Georeferenced And Geospatial Digital Library, Zehua Liu, Ee Peng Lim, Dion Hoe-Lian Goh Dec 2002

Resource Annotation Framework In A Georeferenced And Geospatial Digital Library, Zehua Liu, Ee Peng Lim, Dion Hoe-Lian Goh

Research Collection School Of Computing and Information Systems

G-Portal is a georeferenced and geospatial digital library that aims to identify, classify and organize geospatial and georeferenced resources on the web and to provide digital library services for these resources. Annotation service is supported in G-Portal to enable users to contribute content to the digital library. In this paper, we present a resource annotation framework for georeferenced and geospatial digital libraries and discuss its application in G-Portal. The framework is fiexible for managing annotations of heterogeneous web resources. It allows users to contribute not only the annotation content but also the schema of the annotations. Meanwhile, other digital library …

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On Clustering And Retrieval Of Video Shots Through Temporal Slices Analysis, Chong-Wah Ngo, Ting-Chuen Pong, Hong-Jiang Zhang Dec 2002

On Clustering And Retrieval Of Video Shots Through Temporal Slices Analysis, Chong-Wah Ngo, Ting-Chuen Pong, Hong-Jiang Zhang

Research Collection School Of Computing and Information Systems

Based on the analysis of temporal slices, we propose novel approaches for clustering and retrieval of video shots. Temporal slices are a set of two-dimensional (2-D) images extracted along the time dimension of an image volume. They encode rich set of visual patterns for similarity measure. In this paper, we first demonstrate that tensor histogram features extracted from temporal slices are suitable for motion retrieval. Subsequently, we integrate both tensor and color histograms for constructing a two-level hierarchical clustering structure. Each cluster in the top level contains shots with similar color while each cluster in bottom level consists of shots …

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Medical Students' Personality Characteristics And Academic Performance: A Five-Factor Model Perspective, Filip Lievens, Pol Coetsier, Filip De Fruyt, Jan De Maeseneer Nov 2002

Medical Students' Personality Characteristics And Academic Performance: A Five-Factor Model Perspective, Filip Lievens, Pol Coetsier, Filip De Fruyt, Jan De Maeseneer

Research Collection Lee Kong Chian School Of Business

Objectives: This study investigates: (1) which personality traits are typical of medical students as compared to other students, and (2) which personality traits predict medical student performance in pre-clinical years. Design: This paper reports a cross-sectional inventory study of students in nine academic majors and a prospective longitudinal study of one cohort of medical students assessed by inventory during their first pre-clinical year and by university examination at the end of each pre-clinical year. Subjects and methods: In 1997, a combined total of 785 students entered medical studies courses in five Flemish universities. Of these, 631 (80.4%) completed the NEO-PI-R …

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Discrete Singular Convolution And Its Application To The Analysis Of Plates With Internal Supports. Part 1: Theory And Algorithm, G. W. Wei, Yibao Zhao, Y. Xiang Nov 2002

Discrete Singular Convolution And Its Application To The Analysis Of Plates With Internal Supports. Part 1: Theory And Algorithm, G. W. Wei, Yibao Zhao, Y. Xiang

Research Collection Lee Kong Chian School Of Business

This paper presents a novel computational approach, the discrete singular convolution (DSC) algorithm, for analysing plate structures. The basic philosophy behind the DSC algorithm for the approximation of functions and their derivatives is studied. Approximations to the delta distribution are constructed as either bandlimited reproducing kernels or approximate reproducing kernels. Unified features of the DSC algorithm for solving differential equations are explored. It is demonstrated that different methods of implementation for the present algorithm, such as global, local, Galerkin, collocation, and finite difference, can be deduced from a single starting point. The use of the algorithm for the vibration analysis …

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Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh Nov 2002

Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh

Research Collection School Of Economics

This paper provides an overview of the venture capital industry, and its development in Asia and Singapore. Venture capital plays an important role in innovation and economic growth. Indeed, the resurgence of the United States as a technology leader is intimately linked to the success of Silicon Valley. As Singapore enters the next phase of economic development, the creation of internal engines of growth is an urgent task. The Singapore government has done much to provide an environment for entrepreneurship to thrive. Its success at replicating the Silicon Valley culture will be important for Singapore’s future economic success.

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