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Optimal Control For Transboundary Pollution Under Ecological Compensation: A Stochastic Differential Game Approach, Ke Jiang, Ryan Knowles Merrill, Daming You, Pan Pan Dec 2019

Optimal Control For Transboundary Pollution Under Ecological Compensation: A Stochastic Differential Game Approach, Ke Jiang, Ryan Knowles Merrill, Daming You, Pan Pan

Research Collection Lee Kong Chian School Of Business

To account for previously ignored, yet widely observed uncertainty in nature's capability to replenish the natural environment in ways that should inform ideal design of ecological compensation (EC) regimes, this study constructs a stochastic differential game (SDG) model to analyze transboundary pollution control options between a compensating and compensated region. Equilibrium strategies in the stochastic, two player game inform optimal control theory and reveal a welfare distribution mechanism to form the basis of an improved cooperative game contract. A case-based numerical example serves to verify the theoretical results and supports three key insights. First, accounting for various random disturbance factors, …


2019 Asia Insights: Building A Great Place To Work For All: The Untapped Power Of Gender Diversity In Asia, Richard Raymond Smith, Evelyn Kwek, Tyler Thorpe Nov 2019

2019 Asia Insights: Building A Great Place To Work For All: The Untapped Power Of Gender Diversity In Asia, Richard Raymond Smith, Evelyn Kwek, Tyler Thorpe

Research Collection Lee Kong Chian School Of Business

Through this study, we hope to increase understanding of the context, considerations and practices to leverage the amazing diversity of our region. We hope to learn more about what makes a strong workplace culture, particularly in Asia. We turn our attention to the topic of diversity and inclusion, with a focus on gender diversity in the Asian workplace. This is one of the largest studies in Asia to highlight gender differences and evaluate how psychological safety, inclusion and belonging result in strong teamwork which in turn contributes to building high performing great workplaces.


Luxuriously Succeeding In China, Singapore Management University Nov 2019

Luxuriously Succeeding In China, Singapore Management University

Perspectives@SMU

To succeed, luxury brands in China must speak to the aspirations and yearnings of young Chinese and help them become a “better me"


Customer Satisfaction Index Of Singapore 2019: Q3 Results, Institute Of Service Excellence, Smu Nov 2019

Customer Satisfaction Index Of Singapore 2019: Q3 Results, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence

The Customer Satisfaction Index of Singapore (CSISG) computes customer satisfaction scores at the national, sector, sub-sector, and company levels. The CSISG serves as a quantitative benchmark of the quality of goods and services produced by the Singapore economy over time and across countries. This is the CSISG’s 13th year of measurement.


Five Ways To Build Profits From Blockchain Enterprises, Singapore Management University Oct 2019

Five Ways To Build Profits From Blockchain Enterprises, Singapore Management University

Perspectives@SMU

Innovative Chinese companies are seeking a first-mover advantage


Handmade With Love, Anna Lim Oct 2019

Handmade With Love, Anna Lim

Research Collection Institute of Service Excellence

Anna Lim of The Soup Spoon discusses the importance of investing in staff engagement and keeping true to your brand DNA.


Service For Millenials, Joan Chang Oct 2019

Service For Millenials, Joan Chang

Research Collection Institute of Service Excellence

Joan Chang of Lloyd’s Inn relates the importance of branding for a younger audience and the changing landscape of service in boutique hospitality.


Practising Empathy, Kate Low Oct 2019

Practising Empathy, Kate Low

Research Collection Institute of Service Excellence

Kate Low of Perk by Kate talks about how prioritising customer relationships has kept her at the forefront of Singapore’s lingerie scene.


Getting Personal, Ching Yann Ho Oct 2019

Getting Personal, Ching Yann Ho

Research Collection Institute of Service Excellence

Ho Ching Yann of Triceratops shares how being candid and sincere with customers sets her apart from the competition.


Repackaging Convenience, Min Ling Leow Oct 2019

Repackaging Convenience, Min Ling Leow

Research Collection Institute of Service Excellence

Leow Min Ling of Anthony The Spice Maker reflects on updating her family business to preserve Singapore’s traditional flavours.


Scaling For The Masses, Junting Ang Oct 2019

Scaling For The Masses, Junting Ang

Research Collection Institute of Service Excellence

Ang Junting of Hai Sia Seafood traces the journey of updating a traditional business in a demanding trade to attract and retain talent.


Navigating Conversational Flows, Abhilash Murthy Oct 2019

Navigating Conversational Flows, Abhilash Murthy

Research Collection Institute of Service Excellence

Abhilash Murthy of Bus Uncle explains the importance in developing a delightful user experience in the realm of chatbot design.


Obstacles To Accessing Pro-Poor Microcredit Programs In China: Evidence From Penggan Village, Guizhou, Deborah Shu Yi Tan, Track Tze Tuan Tan, Shao Tong Ling, John A. Donaldson Oct 2019

Obstacles To Accessing Pro-Poor Microcredit Programs In China: Evidence From Penggan Village, Guizhou, Deborah Shu Yi Tan, Track Tze Tuan Tan, Shao Tong Ling, John A. Donaldson

Research Collection School of Social Sciences

Why do poor farmers not take up microcredit loans, even when the terms are designed to be pro-poor? Fieldwork in a village in China’s Guizhou province revealed a puzzle: although the county government had designed a loan program that was intended to be unusually pro-poor, only three of the 349 eligible households had successfully applied. This article analyzes three potential hypotheses: farmer failure (risk aversion or financial illiteracy), market failure (lack of viable or stable market opportunities), and institutional failure (structural or institutional barriers precluding taking up loans). Based on evidence from intensive interviews, we reject the first hypothesis, and …


Understanding The Connection Of Performance And Z-Scores For Manufacturing Firms In South Korea, S.L. Foo, Shaakalya Pathak Oct 2019

Understanding The Connection Of Performance And Z-Scores For Manufacturing Firms In South Korea, S.L. Foo, Shaakalya Pathak

Research Collection School Of Accountancy

South Korea is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. South …


Unpacking A Sustainable Concept, Florence Tay Oct 2019

Unpacking A Sustainable Concept, Florence Tay

Research Collection Institute of Service Excellence

Florence Tay, Co-Founder of UnPackt, breaks down how community building and education can lead to a more enduring zero-waste journey.


Creating Conversations, Sharon Tan Oct 2019

Creating Conversations, Sharon Tan

Research Collection Institute of Service Excellence

Sharon Tan of The Projector speaks about the privilege of amplifying community voices through diverse programming.


Cooling Measures And Housing Wealth: Evidence From Singapore, Wolfgang K. Hardle, Rainer Schulz, Taojun Xie Oct 2019

Cooling Measures And Housing Wealth: Evidence From Singapore, Wolfgang K. Hardle, Rainer Schulz, Taojun Xie

Research Collection Lee Kong Chian School Of Business

Excessive house price growth was at the heart of the financial crisis in 2007/08. Since then, many countries have added cooling measures to their regulatory frameworks. It has been found that these measures can indeed control price growth, but no one has examined whether this has adverse consequences for the housing wealth distribution. We examine this for Singapore, which started in 2009 to target price growth over ten rounds in total. We find that welfare from housing wealth in the last round might not be higher than before 2009. This depends on the deflator used to convert nominal into real …


Introduction: Understanding The Transformational Power Of China's Belt And Road Initiative, Yue Wah Chay, Thomas Menkhoff Sep 2019

Introduction: Understanding The Transformational Power Of China's Belt And Road Initiative, Yue Wah Chay, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

This book features several introductory readings about the “Belt and Road Initiative” (BRI), a strategic development initiative launched by the Chinese Government under the leadership of President Xi Jinping in 2013 to jointly build an economic belt along the Silk Road. Some of the key objectives of BRI, previously known as One Belt, One Road (OBOR) or Silk Road Economic Belt, include promoting infrastructure development, trade and investments in Asia, Europe and Africa. BRI is a gigantic development initiative whose key components include the creation of several interconnected economic land corridors (=belts): China–Mongolia–Russia; China–Central Asia– West Asia, China–Pakistan, the China–Indochina …


An Examination Of Corporate Performance And Altman Z-Scores Of Indian Manufacturing Firms, See Liang Foo, Shaakalya Pathak Sep 2019

An Examination Of Corporate Performance And Altman Z-Scores Of Indian Manufacturing Firms, See Liang Foo, Shaakalya Pathak

Research Collection School Of Accountancy

India is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. India registered …


Studying The Relationship Between Japanese Firms' Corporate Health And Results, See Liang Foo, Shaakalya Pathak Sep 2019

Studying The Relationship Between Japanese Firms' Corporate Health And Results, See Liang Foo, Shaakalya Pathak

Research Collection School Of Accountancy

Japan is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market (the Tokyo Stock Exchange). A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for …


Informativeness Of The Expanded Audit Report: Evidence From China, Beng Wee Goh, Jimmy Lee, Dan Li, Muzhi Wang Aug 2019

Informativeness Of The Expanded Audit Report: Evidence From China, Beng Wee Goh, Jimmy Lee, Dan Li, Muzhi Wang

Research Collection School Of Accountancy

This study investigates whether the expanded audit report is informative to investors in the setting of an emerging economy. Using the recent staggered adoption of the expanded audit report for A+H and A share firms in China, we find robust evidence that abnormal trading volume and earnings response coefficients are higher, and stock price synchronicity are lower, in the post-adoption periods than in the pre-adoption periods. In additional tests, we find that the expanded audit report is more informative for non-State Owned Enterprises and for firms with higher information asymmetry. Overall, our study documents systematic evidence that the expanded audit …


Responsible And Sustainable Business, Singapore Management University Jun 2019

Responsible And Sustainable Business, Singapore Management University

Perspectives@SMU

The Tanoto Foundation builds on the United Nations Sustainable Development Goals for a win-win solution


Customer Satisfaction Index Of Singapore 2019: Q1 Results, Institute Of Service Excellence, Smu Jun 2019

Customer Satisfaction Index Of Singapore 2019: Q1 Results, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence

The Customer Satisfaction Index of Singapore (CSISG) computes customer satisfaction scores at the national, sector, sub-sector, and company levels. The CSISG serves as a quantitative benchmark of the quality of goods and services produced by the Singapore economy over time. 2019 marks the 13th year of measurement for the CSISG national study.


Small Data, Small Steps: Lessons From Assessing The Investment Studio, Jiaxin Low May 2019

Small Data, Small Steps: Lessons From Assessing The Investment Studio, Jiaxin Low

Research Collection Library

Singapore Management University’s (SMU) Li Ka Shing Library was renovated in 2014. During the renovation, the Investment Studio was created within the library to house high-end financial databases such as Bloomberg and Thomson Reuters (now Refinitiv). Usage of the space was assessed using quantitative and qualitative data, comparing the first academic terms across two academic years, 2017 and 2018. The data provided evidence to support anecdotal evidence and library staff’s knowledge and observation. The assessment resulted recommendations for further action. It also provided opportunity to engage with users and stakeholders of this unique space.


Housing Equity And Household Consumption In Retirement: Evidence From The Singapore Life Panel, Lipeng Chen, Liang Jiang, Sock Yong Phang, Jun Yu May 2019

Housing Equity And Household Consumption In Retirement: Evidence From The Singapore Life Panel, Lipeng Chen, Liang Jiang, Sock Yong Phang, Jun Yu

Research Collection School Of Economics

We utilize data from the Singapore Life Panel© survey to empirically investigate the impact of housing equity on consumption of elderly households. Based on panel analysis, we find housing equity value has no significant impact on non-durable consumption for elderly people. The conclusion holds for a battery of robustness check. Moreover, heterogeneity analyses based on subsamples by age of household head, house type, and number of property possessed also show no significant impact of housing equity on consumption in general. Finally, we use scenario analysis to study the Lease Buyback Scheme (LBS), a novel housing equity monetization scheme which allows …


Making Ethnic Tourism Good For The Poor, Jean Junying Lor, Shelly Kwa, John A. Donaldson May 2019

Making Ethnic Tourism Good For The Poor, Jean Junying Lor, Shelly Kwa, John A. Donaldson

Research Collection School of Social Sciences

How can ethnic tourism alleviate rural poverty? Due to the difficulty of simultaneously expanding tourism while promoting pro-poor tourism, most villages traverse one of two developmental pathways: 1) ensuring an inclusive structure before expanding, or 2) expanding before building an inclusive structure. This study compares four comparable cases in Southwestern China to understand the politics behind the decision to choose different pathways, and the impact each pathways has on local residents. While the first pathway requires a careful balance to maintain a pro-poor structure as tourism volume expands, the second pathway presents apparently insurmountable barriers to poverty reduction due to …


Dare To Be Different? Conformity Versus Differentiation In Corporate Social Activities Of Chinese Firms And Market Responses, Yanlong Zhang, Heli Wang, Xiaoyu Zhou Apr 2019

Dare To Be Different? Conformity Versus Differentiation In Corporate Social Activities Of Chinese Firms And Market Responses, Yanlong Zhang, Heli Wang, Xiaoyu Zhou

Research Collection Lee Kong Chian School Of Business

Building on the literature on optimal distinctiveness, this study explores the effects of conformity and differentiation in corporate social responsibility (CSR) practices on the evaluations by security analysts and the responses of the financial market in general. We develop the argument that while conformity in CSR scope enhances analyst coverage, differentiation in CSR emphasis leads to more-favorable analyst recommendations and higher market value. This suggests that firms may be able to simultaneously conform in CSR scope and differentiate in CSR emphasis to achieve optimal distinctiveness. To further enhance our understanding of the variation in the relationship between conformity/differentiation and the …


An Analysis Of Z-Scores And Performance: Manufacturing Companies In Hong Kong, S.L. Foo, Shaakalya Pathak Apr 2019

An Analysis Of Z-Scores And Performance: Manufacturing Companies In Hong Kong, S.L. Foo, Shaakalya Pathak

Research Collection School Of Accountancy

Hong Kong is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed. The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. Hong …


Text Analytics Approach To Examining Corporate Social Responsibility, Nurul Asyikeen Binte Azhar, Gary Pan, Poh Sun Seow, Andrew Koh, Wan Ying Tay Apr 2019

Text Analytics Approach To Examining Corporate Social Responsibility, Nurul Asyikeen Binte Azhar, Gary Pan, Poh Sun Seow, Andrew Koh, Wan Ying Tay

Research Collection School Of Computing and Information Systems

This research article explores a text analyticsapproach to assess the prominence of corporate social responsibility in 554Singapore-listed firms through a content analysis of the news. Instead ofrelying on publications by the firms, third-party news coverage is used toreduce potential biases due to over-reporting. A dataset of news articles onthe included firms published during fiscal years 2015 and 2016 is crawled, andthe articles’ content is parsed to search for information related to corporatesocial responsibility. Graph theory is subsequently used to create acollaborative network of listed firms’ corporate social responsibilityactivities. The results highlight a more automated and scalable means ofassessing the prominence …


Mapping Cultural Tightness And Its Links To Innovation, Urbanization, And Happiness Across 31 Provinces In China, Roy Y. J. Chua, Kenneth Huang, Mengzi Jin Apr 2019

Mapping Cultural Tightness And Its Links To Innovation, Urbanization, And Happiness Across 31 Provinces In China, Roy Y. J. Chua, Kenneth Huang, Mengzi Jin

Research Collection Lee Kong Chian School Of Business

We conduct a 3-y study involving 11,662 respondents to map cultural tightness—the degree to which a society is characterized by rules and norms and the extent to which people are punished or sanctioned when they deviate from these rules and norms—across 31 provinces in China. Consistent with prior research, we find that culturally tight provinces are associated with increased governmental control, constraints in daily life, religious practices, and exposure to threats. Departing from previous findings that tighter states are more rural, conservative, less creative, and less happy, cultural tightness in China is associated with urbanization, economic growth, better health, greater …