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Full-Text Articles in Business

Liquidity And Crises In Asian Equity Markets, Charlie Charoenwong, David K. Ding, Yung Chiang Yang Aug 2013

Liquidity And Crises In Asian Equity Markets, Charlie Charoenwong, David K. Ding, Yung Chiang Yang

Research Collection Lee Kong Chian School Of Business

This article presents a discussion of stock market liquidity and its relation to financial crises. It begins by defining liquidity and explaining possible measures of liquidity and then explores factors influencing liquidity. It also analyzes the liquidity among 11 Asian countries. The empirical findings based on the time-series analysis show a sharp decline in stock liquidity during both the 1997-1998 Asian and the recent 2007-2008 global financial crisis. The multivariate regression results show that both stock liquidity and trading activity decrease after large market declines. Stock liquidity responds significantly to large market declines in South Korea and Taiwan whereas it …


Academic Paper Supports Housing Curbs For Prs, Foreigners, Mindy Tan, David Kuo Chuen Lee Aug 2013

Academic Paper Supports Housing Curbs For Prs, Foreigners, Mindy Tan, David Kuo Chuen Lee

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Reit To Deal With Hdb Demand-Supply Challenges, Chor Hao Ong, David Kuo Chuen Lee Aug 2013

Reit To Deal With Hdb Demand-Supply Challenges, Chor Hao Ong, David Kuo Chuen Lee

Research Collection Lee Kong Chian School Of Business

A group of academics from the Singapore Management University (SMU) and a noted property consultant are making the case for a REIT comprising Housing and Development Board (HDB) residential and commercial units.


Derailed: Communicating Singapore’S Mass Transit Crises [Case Study], Pang, A. Aug 2013

Derailed: Communicating Singapore’S Mass Transit Crises [Case Study], Pang, A.

Research Collection Lee Kong Chian School Of Business

The case: In December 2011, one of Singapore’s main mass transit rail lines came to a standstill for several hours on two separate days. While occasional public transport breakdowns are unavoidable, the rail operator came under intense criticism for its poor handling of the incidents, including its failure in crisis communication. Its value: This case can be used to illustrate a number of perspectives and concepts from the literature on crisis and organisational communication. Of particular contemporary interest is what the case shows about how communication technologies, including social media, should and should not be used by organisations.


Improving Housing Status Quo, Sock Yong Phang, David K. C. Lee Aug 2013

Improving Housing Status Quo, Sock Yong Phang, David K. C. Lee

Research Collection Lee Kong Chian School Of Business

On home ownership and upgrading, PM Lee Hsien Loong has reaffirmed the Government's objective to make home ownership more affordable for all first-time buyers, especially low-income earners, through increasing the amounts of targeted housing grant subsidies. He spelt out the desired outcomes of housing affordability policy through his detailed matching of Housing Board flat type with household incomes.


Evaluating The Effectiveness Of Cooling Measures On Property Prices: An Exploration Of Alternative Econometric Techniques, Kuo Chuen Lee, Sock Yong Phang, Kok Fai Phoon, Karol Wee Aug 2013

Evaluating The Effectiveness Of Cooling Measures On Property Prices: An Exploration Of Alternative Econometric Techniques, Kuo Chuen Lee, Sock Yong Phang, Kok Fai Phoon, Karol Wee

Research Collection Lee Kong Chian School Of Business

No abstract provided.


Political Connection And Firm Value, James S. Ang, David K. Ding, Tiong Yang Thong Aug 2013

Political Connection And Firm Value, James S. Ang, David K. Ding, Tiong Yang Thong

Research Collection Lee Kong Chian School Of Business

We study the effect of political connection (PC) on company value in an environment where low PC is due to better institutions and not confounded by favorable social/cultural factors. We find that in Singapore, the only country that fits this description, PC in general adds little to the value of a company. However, in industries that are subject to more stringent government regulations, PC appears to be somewhat important. Robustness checks show that alternative PC variables give rise to similar results, and the addition of control variables do not drastically change the findings. Politically connected firms have higher managerial ownership …


The State-Enterprise Experience In The Gcc: Whither Singapore Inc.?, Wilfred How, Caroline Yeoh Jul 2013

The State-Enterprise Experience In The Gcc: Whither Singapore Inc.?, Wilfred How, Caroline Yeoh

Research Collection Lee Kong Chian School Of Business

The city-state of Singapore's roadmap for internationalization of local companies into the GCC region has, arguably, made its mark; recently crossing the milestone of 100 local companies that have, to date, found business opportunities in this foreign and exotic land. Actually taking these opportunities, however, has proven more complicated, with cultural differences and highly dynamic local business environments posing unforeseen challenges to Singapore companies – producing a test of adaptability that has returned rather mixed results. Of particular interest are government-linked companies (GLCs), among the largest and the first of Singapore's entrants into the region; perceived as more structurally rigid, …


Global Entrepreneurship Monitor 2012 Singapore Report, Olexander S. Chernyshenko, Marilyn A. Uy, David Gomulya, Francis L. K. Wong, Moon-Ho R. Ho, Yoke Yong Lai, Kim Yan Chan, Olwen Bedford Jul 2013

Global Entrepreneurship Monitor 2012 Singapore Report, Olexander S. Chernyshenko, Marilyn A. Uy, David Gomulya, Francis L. K. Wong, Moon-Ho R. Ho, Yoke Yong Lai, Kim Yan Chan, Olwen Bedford

Research Collection Lee Kong Chian School Of Business

Independent of the stage of economic development, entrepreneurship plays a significant role for the expansion, job creation and overall economic health within a country. As a leading international indicator of entrepreneurial activity around the world, the Global Entrepreneurship Monitor (GEM) provides valuable insight into the state of entrepreneurship within and across developed and developing economies. Knowing the entrepreneurial aspirations of country’s residents is particularly relevant to Singapore’s innovation-driven economy given that the country’s prosperity depends largely on the economic activities of its citizens. We describe the key definitions and terms used in the GEM as well as the stages of …


The Singapore Experience In The Gcc: Notes From Singapore Inc, Caroline Yeoh, Wilfred Pow Ngee How Jul 2013

The Singapore Experience In The Gcc: Notes From Singapore Inc, Caroline Yeoh, Wilfred Pow Ngee How

Research Collection Lee Kong Chian School Of Business

The city-state of Singapore's roadmap for internationalization of local companies into the GCC region has, arguably, made its mark; recently crossing the milestone of 100 local companies that have, to date, found business opportunities in this foreign and exotic land. Actually taking these opportunities, however, has proven more complicated, with cultural differences and highly dynamic local business environments posing unforeseen challenges to Singapore companies – producing a test of adaptability that has returned rather mixed results. Of particular interest are government-linked companies (GLCs), among the largest and the first of Singapore's entrants into the region; perceived as more structurally rigid, …


Evaluations Of Port Performances From A Seaborne Cargo Supply Chain Perspective, Joyce M. W. Low, Shao Wei Lam, Loon Ching Tang, Zhang Lan Jul 2013

Evaluations Of Port Performances From A Seaborne Cargo Supply Chain Perspective, Joyce M. W. Low, Shao Wei Lam, Loon Ching Tang, Zhang Lan

Research Collection Lee Kong Chian School Of Business

Previous research on port efficiency focuses primarily on the provider’s perspective and assumes that maximizing the output is always desirable. This paper recognizes that maximizing the final output does not necessarily guarantee an efficient system and the notion of port efficiency and service effectiveness needs to be considered from the perspectives of both the provider and the consumer of the port service. The paper proposes a network-DEA model to evaluate the performances of 30 seaports worldwide. The concurrent consideration of efficiency scores from the network-DEA model and the traditional DEA-CCR model will offer valuable insights to port operators on how …


We Are The Champions, Nirmalya Kumar, Jan-Benedict E. M. Steenkamp Jun 2013

We Are The Champions, Nirmalya Kumar, Jan-Benedict E. M. Steenkamp

Research Collection Lee Kong Chian School Of Business

From China Mobile to Coal India, state-supported firms are on the march. The authors map out the route from being a national champion to becoming a global brand.


Social Capital, Informal Governance, And Post-Ipo Firm Performance: A Study Of Chinese Entrepreneurial Firms, Jerry X. Cao, Yuan Ding, Hua Zhang Apr 2013

Social Capital, Informal Governance, And Post-Ipo Firm Performance: A Study Of Chinese Entrepreneurial Firms, Jerry X. Cao, Yuan Ding, Hua Zhang

Research Collection Lee Kong Chian School Of Business

This paper explores the links between entrepreneurs' social capital and post-IPO firm performance in China's unique capital market and regulatory setting. Using hand-collected data on entrepreneurs' political connections and firm financial information, we construct original measures for various types of social capital and examine their roles in determining the accounting and financial performance of entrepreneurial firms after an IPO. On one hand, firm accounting performance is enhanced by entrepreneurs' bridging social capital, such as political connections or a willingness to share power with external investors. On the other hand, bonding social capital such as intra-group related party transactions causes performance …


Negotiating Successfully In Asia, Michael Benoliel Jan 2013

Negotiating Successfully In Asia, Michael Benoliel

Research Collection Lee Kong Chian School Of Business

Cross-cultural negotiations are complex, challenging, and difficult to navigate because much of the Asian culture is unstated, implicit, and internalized in subtle behavioral patterns. It is like an iceberg; more is invisible and less is visible. To understand how the Asian negotiation values and practices are different from those in the West, I describe briefly the Asian cultural roots, highlight the major dimensions that differentiate cultures, explore the factors that influence the Asian negotiation processes and outcomes, and provide a list of practical suggestions for negotiating successful deals with Asian negotiators.


The Aftermarket Performance Of Initial Public Offerings, Chiyachantana N. Chiraphol, Theerawat Pinta, Nareerat Taechapiroontong, Anantaporn Wongkham Jan 2013

The Aftermarket Performance Of Initial Public Offerings, Chiyachantana N. Chiraphol, Theerawat Pinta, Nareerat Taechapiroontong, Anantaporn Wongkham

Research Collection Lee Kong Chian School Of Business

This paper examines the aftermarket performance of initial public offerings (IPOs) and explores the underpricing of IPOs in an Asian emerging equity market using a comprehensive sample of IPOs. Our findings suggest that there exist a significant underpricing. Specifically, new issues have been offered at an average market-adjusted discount of about 20%. The magnitude of IPO underpricing is significantly larger for large firms, older firms and firms with small offering size.


Collectivistic Norms And International Entrepreneurship: A Tale Of Two Clans, The Wenzhounese From China And The Chettiars From India, Wee Liang Tan Jan 2013

Collectivistic Norms And International Entrepreneurship: A Tale Of Two Clans, The Wenzhounese From China And The Chettiars From India, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

There is a need in the field of international entrepreneurship for ideas and theory developed from within the SME field and less reliance on that developed in the field of international business and large firms. This paper seeks to address this gap but examining the two groups of international entrepreneurs from China and India: the Wenzhou people and the Chettiars. These two groups began internationalising in the past before globalisation became a norm in the colonial days and before when ships sailed along trade winds. It seeks to draw lessons from these two groups: their collectivistic norms and practices.