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Skbi Big 5 Survey 2022 August, Singapore Management University
Skbi Big 5 Survey 2022 August, Singapore Management University
Sim Kee Boon Institute for Financial Economics
The latest survey results on the largest five economies (Big5) were revised markedly relative to the prior release (pre-Russia-Ukraine conflict), generally indicating weaker growth and higher inflation coupled with incremental ambiguity on the policy front.
Skbi Big 5 Survey 2022 February, Singapore Management University
Skbi Big 5 Survey 2022 February, Singapore Management University
Sim Kee Boon Institute for Financial Economics
The latest survey results on the largest five economies (Big5), based on submissions prior to the ongoing Russia-Ukraine conflict, imply a more intricate growth, inflation and policy dynamic.
Skbi Big 5 Survey 2021 August, Singapore Management University
Skbi Big 5 Survey 2021 August, Singapore Management University
Sim Kee Boon Institute for Financial Economics
The latest survey results convey an upshift in growth projections of the five largest economies in aggregate accompanied by higher inflation, especially this year and to a lesser extent next year. The aggregate “Big5” median real GDP growth projections for 2021 and 2022 were raised to 6.7% (up in US, CN and EA but down in IN and JP) and 4.9% (all except US), respectively. The overall “Big5” median CPI inflation forecasts were nudged up to 2.6% (higher in US, IN and EA but lower in CN) and 2.4% (in US, IN and EA some), respectively, for this year and …
Skbi Big 5 Survey 2021 February, Singapore Management University
Skbi Big 5 Survey 2021 February, Singapore Management University
Sim Kee Boon Institute for Financial Economics
The latest survey results suggest that the five largest economies collectively is projected to snapback to almost 6% in 2021, a modest upgrade from the August median, following an unprecedented preliminary contraction of roughly 4% last year (in real GDP terms). The 2022 median growth forecast of slightly above 4.5%, while slower, is still respectable, outstripping its pre-COVID 10-year average pace by more than half a percentage point. The aggregate upgrade in 2021, however, obscures the lopsided nature and highly uneven contour of the ongoing recovery. The bulk of the upward revision to growth was mainly due to IN (to …
Skbi Big 5 Survey 2020 August, Singapore Management University
Skbi Big 5 Survey 2020 August, Singapore Management University
Sim Kee Boon Institute for Financial Economics
The COVID-19 pandemic led to whopping downward revisions to 2020 real GDP growth among the Big5 economies, on average greater than 7%-points (ranging from roughly 3.5%-points for China to more than 10%-points for India). The forecast revisions to headline inflation were less sizable and more uneven, perhaps because of the confluence of supply and demand influences. The 2021 median GDP forecast is expected to turn positive overall, with a balanced risk assessment for most of the Big5 (but a coin toss in IN and US), but the growth reversal is likely to be highly uneven. While China regains its prior …
The Effects Of Mifid Ii On Sell-Side Analysts, Buy-Side Analysts, And Firms, Bingxu Fang, Ole-Kristian Hope, Zhongwei Huang, Rucsandra Moldovan
The Effects Of Mifid Ii On Sell-Side Analysts, Buy-Side Analysts, And Firms, Bingxu Fang, Ole-Kristian Hope, Zhongwei Huang, Rucsandra Moldovan
Research Collection School Of Accountancy
This paper provides early but broad empirical evidence on MiFID II, which requires investment firms to unbundle investment research from other costs they charge to clients. Employing difference-in-differences matched-sample research designs with firm fixed effects, we find a decrease in the number of sell-side analysts covering European firms after MiFID II implementation, particularly for firms that are less important to the sell-side. However, research quality improves; specifically, individual analyst forecasts are more accurate and stock recommendations garner greater market reactions. In addition, sell-side analysts seem to cater more to the buy-side after MiFID II by providing industry recommendations along with …
Skbi Big 5 Survey 2020 February, Singapore Management University
Skbi Big 5 Survey 2020 February, Singapore Management University
Sim Kee Boon Institute for Financial Economics
On balance, our overall read of the latest multiyear Big5 survey results implies the following economy-at-risk scale (least to most): India, US, Euro Area, Japan and China (i.e., India’s economy might be least at-risk, while China is deemed to be most at-risk). Broadly, survey participants expect the risk assessment to GDP growth to be skewed to the downside in 2020 followed by a more balanced backdrop in 2021. But participants seem to be more divided, with most responses favoring “downside” or/and “balanced” risks, on the 2022 growth environment. The risks to headline inflation in 2020, however, appear to be more …
Skbi Big 5 Survey 2019 August, Singapore Management University
Skbi Big 5 Survey 2019 August, Singapore Management University
Sim Kee Boon Institute for Financial Economics
On balance, our overall interpretation of the multiyear Big5 survey results implies the following economy-at-risk scale (least to most): India, China, US, Japan and Euro Area (i.e., India’s economy appears to be the least at-risk, while the Euro Area might be the most at-risk). Broadly, survey participants expect the risks to GDP growth to be tilted to the downside in 2019 and 2020 followed by a more balanced growth environment in 2021. But participants seem to lean toward a more balanced risk assessment on headline inflation from 2019 through 2021, with the exception of the Euro Area, where a modest …
Mechanism Design For Near Real-Time Retail Payment And Settlement Systems, Zhiling Guo, Robert John Kauffman, Mei Lin, Dan Ma
Mechanism Design For Near Real-Time Retail Payment And Settlement Systems, Zhiling Guo, Robert John Kauffman, Mei Lin, Dan Ma
Research Collection School Of Computing and Information Systems
have made extensive use of interbank netting systems, in which payments are accumulated for end-of-day settlement. This approach, known as deferred net settlement (DNS), reduces the liquidity needs of a payment system, but bears inherent operational risks. As large dollar volumes of retail payments accumulate swiftly, real-time gross settlement (RTGS) is an attractive option. It permits immediate settlement of transactions during the day, but it brings up other risks that require consideration. We propose a hybrid payment management system involving elements of both DNS and RTGS. We explore several hybrid system mechanism designs to allow payment prioritization, reduce payment delays, …
What Is The European Management School Model?, Howard Thomas
What Is The European Management School Model?, Howard Thomas
Research Collection Lee Kong Chian School Of Business
The article discusses the important role of the European Foundation of Management Development (EFMD) in positioning and influencing business schools in Europe. It highlights the effort of the organization in ensuring internationalization and corporate link to high quality management education in business schools. It also mentions the success of the European management schools in emphasizing international character and being agents in the transformation of management education.
Manufacturing Operations In Europe: Where Do We Go Next?, Arnoud De Meyer
Manufacturing Operations In Europe: Where Do We Go Next?, Arnoud De Meyer
Research Collection Lee Kong Chian School Of Business
Extrapolating from the results of a 10-year INSEAD Survey, the author offers some views on the future for manufacturing in Europe. The model on which the Survey was based indicates that competitive priorities and action plans in manufacturing changed over the 10-year period. Taking lessons from these, the author makes some 'informed guesses' on the future implications for European manufacturers in the form of seven normative features: innovation in the value package; close integration between manufacturing and service; the importance of internationalism; flexible project-based organisation; more integrated management of the value added chain; successful transformation of operational programmes into strategic …
Flexibility: The Next Competitive Battle: The Manufacturing Futures Survey, Arnoud De Meyer, Jinichiro Nakane, Jeffrey M. Miller, Kasra Ferdows
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 …
German, French And British Manufacturing Strategies Compared: A Growth Towards Each Other, Arnoud De Meyer
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 …
Flexibility And Fms: An Empirical Analysis, Mihkel Tombak, Arnoud De Meyer
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 …
European Manufacturing: A Comparative Study (1985), Arnoud De Meyer
European Manufacturing: A Comparative Study (1985), Arnoud De Meyer
Research Collection Lee Kong Chian School Of Business
One of the striking events of the eighties in the field of management is the increase in attention paid to the role of manufacturing and technology in the determination of a firm’s competitive position. Traditionally, corporate policy and strategic decisions were defined on the basis of a financial and marketing analysis of the company’s strengths, weaknesses and competitive environment. The contribution of the technology function and more in particular the production and operations function was often limited to implementation and a marginal adaptation of a course set by financial and marketing considerations. Some of the world’s excellent competitors have, however, …