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Articles 1 - 8 of 8
Full-Text Articles in Business
The Impact Of In-House Unnatural Death On Property Values: Evidence From Hong Kong, Zheng Chang, Jing Li
The Impact Of In-House Unnatural Death On Property Values: Evidence From Hong Kong, Zheng Chang, Jing Li
Research Collection School Of Economics
The occurrence of in-house unnatural death could negatively affect the value of housing property. This study evaluates the geographic and temporal scope of the impact of unnatural death on property values in Hong Kong. By exploiting the spatial and intertemporal variation of the shock in a difference-in-differences approach, we find significant negative externalities of unnatural death incidence on neighborhood housing values. On average, units in which an unnatural death occurred experience a 25% drop in value following the death. Nearby units on the same floor also show a significant price drop of 4.5%. Prices of units on other floors of …
Strategic Sequential Bidding For Government Land Auction Sales – Evidence From Singapore, Sumit Agarwal, Jing Li, Ernie Teo, Alan Cheong
Strategic Sequential Bidding For Government Land Auction Sales – Evidence From Singapore, Sumit Agarwal, Jing Li, Ernie Teo, Alan Cheong
Research Collection School Of Economics
This paper studies the extent to which equilibrium auction prices are pushed up sequentially due to strategic bidding behaviors in government land auction sales. Using a unique dataset that covers the universe of tendering prices submitted by all developers for all residential land auction sales in Singapore, we find that a tenderer’s bids are significantly higher where there was a previous land parcel sold within two years and located within four kilometers. The elevated price margin decreases with time and geographic distance. Tracking sequential bids submitted by same developers over time, we find that the incumbent winner of a previous …
News Co-Occurrence, Attention Spillover, And Return Predictability, Li Guo, Lin Peng, Yubo Tao, Jun Tu
News Co-Occurrence, Attention Spillover, And Return Predictability, Li Guo, Lin Peng, Yubo Tao, Jun Tu
Research Collection School Of Economics
We examine the effect of investor attention spillover on stock return predictability. Using a novel measure, the News Network Triggered Attention index (NNTA), we find that NNTA negatively predicts market returns with a monthly in(out)-of-sample R-square of 5.97% (5.80%). In the cross-section, a long-short portfolio based on news co-occurrence generates a significant monthly alpha of 68 basis points. The results are robust to the inclusion of alternative attention proxies, sentiment measures, other news- and information-based predictors, across recession and expansion periods. We further validate the attention spillover effect by showing that news co-mentioning leads to greater increases in Google and …
Entrepreneurship, College, And Credit: The Golden Triangle, Roberto M. Samaniego, Juliana Yu Sun
Entrepreneurship, College, And Credit: The Golden Triangle, Roberto M. Samaniego, Juliana Yu Sun
Research Collection School Of Economics
We develop a model to evaluate the aggregate impact of college finance in an environment with entrepreneurship. The calibrated model captures the stylized fact that entrepreneurs with college are more common and more profitable in the United States. The calibration indicates this is mainly because higher labor earnings allow college‐educated agents to ameliorate credit constraints if and when they eventually become entrepreneurs. Changes in financing constraints on entrepreneurs can thus affect college attendance, and changes in financing constraints on college can affect entrepreneurship rates as well.
Potential Crime Risk And Housing Market Responses, Seonghoon Kim, Kwan Ok Lee
Potential Crime Risk And Housing Market Responses, Seonghoon Kim, Kwan Ok Lee
Research Collection School Of Economics
We study how information on local (dis)amenities is transmitted and manifested in housing markets. Using nationwide data on multifamily homes in South Korea, we analyze heterogeneity in the effect of a sex offender's presence on sale prices and rents of nearby homes. Our results demonstrate that the price effect of the offender's move-in varies significantly by spatial context. People react more strongly and persistently to the move-in of the offender in places wherein indicators of social connectedness are stronger, such as places with relatively low population density. We also find that, unlike housing prices, rents do not change in response …
Labour Research Conference 2018: Upskilling Of Mature Workers, Stephen Hoskins, Luca Facchinello
Labour Research Conference 2018: Upskilling Of Mature Workers, Stephen Hoskins, Luca Facchinello
Research Collection School Of Economics
Many developed countries are approaching an era of ageing population due to an increase in longevity and decrease in fertility rates. Singapore is no exception, having one of the fastest ageing populations in Asia, which is driven by low fertility rates and the third longest life expectancy in the world. The number of elderly citizens, defined as those aged 65 and above, is expected to triple to 900,000 by 2030, making up about 28% of the total population in Singapore (Population SG, 2016). This changing population age profile, combined with a competitive labour market, means it makes business sense to …
Innovation, Firm Size Distribution, And Gains From Trade, Yi-Fan Chen, Wen-Tai Hsu, Shin-Kun Peng
Innovation, Firm Size Distribution, And Gains From Trade, Yi-Fan Chen, Wen-Tai Hsu, Shin-Kun Peng
Research Collection School Of Economics
We study a trade model with monopolistic competition a la Melitz (2003) that is standard except that firm heterogeneity is endogenously determined by firms innovating to enhance their productivities. We show that the equilibrium productivity and firm-size distributions exhibit power-law tails under rather general conditions on demand and technology. In particular, the emergence of the power laws is essentially independent of the underlying primitive heterogeneity among firms. We investigate the model’s welfare implications, and conduct a quantitative analysis of welfare gains from trade. We find that, conditional on the same trade elasticity and values of the common parameters, our model …
The Impact Of The Cost Of Car Ownership On House Price Gradient In Singapore, Naqun Huang, Jing Li, Amanda Ross
The Impact Of The Cost Of Car Ownership On House Price Gradient In Singapore, Naqun Huang, Jing Li, Amanda Ross
Research Collection School Of Economics
This paper examines the extent to which a change in the cost of car ownership affects the house price gradient with respect to distance from the central business district (CBD). Theory suggests that if the cost of car ownership increases, then people will shift towards other modes of transportation, thus reducing house prices farther away from the CBD. However, the cost of car ownership is likely to be endogenous and correlated with various unobserved factors that also contribute to a change in the house price gradient. To obtain causal effects, we exploit a unique feature of Singapore’s car registration process. …