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Articles 1 - 30 of 101
Full-Text Articles in Business
Assessing Impact Of Urban Densification On Outdoor Microclimate And Thermal Comfort Using Envi-Met Simulations For Combined Spatial-Climatic Design (Cscd) Approach, Shreya Banerjee, Rachel X.Y. Pek, Sin Kang Yik, Graces N. Ching, Xiang Tian Ho, Dzyuban Yuliya, Peter J. Crank, Juan A. Acero, Winston T. L. Chow
Assessing Impact Of Urban Densification On Outdoor Microclimate And Thermal Comfort Using Envi-Met Simulations For Combined Spatial-Climatic Design (Cscd) Approach, Shreya Banerjee, Rachel X.Y. Pek, Sin Kang Yik, Graces N. Ching, Xiang Tian Ho, Dzyuban Yuliya, Peter J. Crank, Juan A. Acero, Winston T. L. Chow
Research Collection College of Integrative Studies
Future urban planning requires context-specific integration of spatial design and microclimate especially for tropical cities with extreme weather conditions. Thus, we propose a Combined Spatial-Climatic Design approach to assess impact of urban densification on annual outdoor thermal comfort performance employing ENVI-met simulations for Singapore. We first consider building bylaws and residential site guidelines to develop eight urban-density site options for a target population range. We further classify annual weather data into seven weather-types and use them as boundary conditions for the simulations. Comparing such fifty-six combined spatial-climatic simulation outputs by analyzing Outdoor Thermal Comfort Autonomy, we report the influence of …
Promoting Esg Investing By Trustees: Risk Management And Structuring Solutions, Vincent Ooi, Alvin W. L. See
Promoting Esg Investing By Trustees: Risk Management And Structuring Solutions, Vincent Ooi, Alvin W. L. See
Research Collection Yong Pung How School Of Law
The world is falling behind on its commitments to tackle some of the most pressing problems of this century: climate change, inequality, and other obstacles to building a sustainable future. In 2015, all Member States of the United Nations adopted the 2030 Agenda for Sustainable Development which set out 17 Sustainable Development Goals (‘UNSDG’) and 169 targets spanning the spectrum of environmental, social and economic dimensions of development. At the mid-point to 2030, the UN Secretary-General reported that of the roughly 140 targets for which data is available, about 12 per cent are on track; more than half are moderately …
Legal Risk And Insider Trading, Marcin Kacperczyk, Emiliano Sebastian Pagnotta
Legal Risk And Insider Trading, Marcin Kacperczyk, Emiliano Sebastian Pagnotta
Research Collection Lee Kong Chian School Of Business
Do illegal insiders internalize legal risk? We address this question with hand-collected data from 530 SEC (the U.S. Securities and Exchange Commission) investigations. Using two plausibly exogenous shocks to expected penalties, we show that insiders trade less aggressively and earlier and concentrate on tips of greater value when facing a higher risk. The results match the predictions of a model where an insider internalizes the impact of trades on prices and the likelihood of prosecution and anticipates penalties in proportion to trade profits. Our findings lend support to the effectiveness of U.S. regulations' deterrence and the long-standing hypothesis that insider …
An Idealist’S Approach For Smart Contract Correctness, Duy Tai Nguyen, Hong Long Pham, Jun Sun, Quang Loc Le
An Idealist’S Approach For Smart Contract Correctness, Duy Tai Nguyen, Hong Long Pham, Jun Sun, Quang Loc Le
Research Collection School Of Computing and Information Systems
In this work, we experiment an idealistic approach for smart contract correctness verification and enforcement, based on the assumption that developers are either desired or required to provide a correctness specification due to the importance of smart contracts and the fact that they are immutable after deployment. We design a static verification system with a specification language which supports fully compositional verification (with the help of function specifications, contract invariants, loop invariants and call invariants). Our approach has been implemented in a tool named iContract which automatically proves the correctness of a smart contract statically or checks the unverified part …
Toolkit For The Evaluation Of Crypto Tax Risks (Outline), Vincent Ooi
Toolkit For The Evaluation Of Crypto Tax Risks (Outline), Vincent Ooi
Research Collection Yong Pung How School Of Law
This Toolkit seeks to provide a practical, structured framework for the identification and assessment of crypto tax risks that can be used by tax administrations. It has three main parts. Firstly, an introduction to the Toolkit and how it should be used. Secondly, a series of questionnaires to complete. Thirdly, a commentary to provide additional context and details on each part of the Toolkit and its application. As tax administrations go through the questionnaires, they can rely on the Commentary to complement their existing knowledge and expertise to accurately identify the crypto tax risks facing their domestic tax systems.
A Non-Contractual Approach To Smart Contracts, Florian Gamper
A Non-Contractual Approach To Smart Contracts, Florian Gamper
Research Collection Yong Pung How School Of Law
This article adds to the debate on what, legally speaking, smart contracts are and what they should be. Currently, much of this debate focuses on the relationship between smart contracts and legal contracts, overlooking that other legal categories may also be appropriate. This article suggests that the concept of abandonment can be fruitfully applied to smart contracts. Using the concept of abandonment has the advantage of allowing smart contracts, as close as legally possible, to be utilized as machines (or using the terminology suggested by Vitalik Buterin, founder of Etherium, as a ‘persistent script’). It would also make other issues, …
The Sec Revolving Door And Comment Letters, Michael Shen, Samuel T. Tan
The Sec Revolving Door And Comment Letters, Michael Shen, Samuel T. Tan
Research Collection School Of Accountancy
Government officials, advocacy groups, and the business press have raised concerns that former SEC employees may continue to influence the SEC after leaving the agency. Using hand-collected data on the characteristics of 1,384 lawyers who represented firms in responding to SEC comment letters between 2005 and 2016, we examine the impact of post-revolving SEC employees on the SEC comment letter process. Among other determinants, we find that older and larger firms with a history of litigation are more likely to hire former SEC lawyers over non-SEC lawyers. Relative to firms that involve only non-SEC lawyers, we find that firms that …
'99-To-1’ Property Deals: Stamp Duty Avoidance Or Honest Mistake, Vincent Ooi
'99-To-1’ Property Deals: Stamp Duty Avoidance Or Honest Mistake, Vincent Ooi
Research Collection Yong Pung How School Of Law
This article explains in detail the legal issues surrounding the recent ABSD audit and how exactly the general anti-avoidance rule and the stamp duty avoidance surcharge in the Stamp Duties Act 1929 can be invoked by the IRAS.The article highlights the fact that it may not be enough for a property buyer to show that the '99-to-1' holding was intended to enable the buyer to qualify for a home loan and not 'for stamp duty avoidance'. The property buyer must be able to answer the additional question of why the transfer of the property is 'staggered' in two stages and …
The Coming Central Bank Digital Currency Revolution And The E-Cny, Heng Wang, Ross Buckley
The Coming Central Bank Digital Currency Revolution And The E-Cny, Heng Wang, Ross Buckley
Research Collection Yong Pung How School Of Law
The only central bank money individuals and businesses have today is cash. Everything else they use as money is commercial bank promises. Central bank digital currencies (“CBDC”) will likely change all this by putting central bank money into everyone’s hands. China is a front runner in this revolution, and its CBDC, the e-CNY, may well in time profoundly affect the international economic order. This article analyses the major considerations around the e-CNY, its ramifications, in particular for trade, and its possible challenges.
Regulating The Corporate Governance Of State-Owned Enterprises In Investment Arbitration, Mark Mclaughlin
Regulating The Corporate Governance Of State-Owned Enterprises In Investment Arbitration, Mark Mclaughlin
Research Collection Yong Pung How School Of Law
The renaissance of sovereign investment is one of the defining economic trends of the 21st century. While many states have benefitted, and continue to benefit, from an influx of state-backed foreign investment, this embrace is not without its hesitancies. Host states are particularly concerned that state-owned enterprises (SOE s) pursue non-commercial policy objectives, maintain lower levels of transparency than their private counterparts, and operate with inferior standards of responsible business conduct. In response, domestic regulators have enacted a series of countermeasures for SOE investment, including requirements that such enterprises must invest on a “commercial basis.” However, the regulation of foreign …
The Value Of Fiduciary Duties: Evidence From En Bloc Sales In Singapore, Jianfeng Hu, Kelvin F. K. Low, Wei Zhang
The Value Of Fiduciary Duties: Evidence From En Bloc Sales In Singapore, Jianfeng Hu, Kelvin F. K. Low, Wei Zhang
Research Collection Lee Kong Chian School Of Business
This paper examines the impact of fiduciary duties on collective asset sales in the case of owners acting as delegates for other owners, thereby potentially inducing conflicts of interests. Our identification strategy exploits a unique legal shock in Singapore, which established fiduciary duties in those transactions in the real estate market known colloquially as en bloc sales. The imposition of fiduciary duties caused the price premium of units sold via en bloc sales to increase over units ineligible for en bloc sale, as well as over units that, although eligible for en bloc sale, are sold individually. In addition, this …
Exploring The Assetisation And Financialisation Of Non-Fungible Tokens: Opportunities And Regulatory Implications, Iris H. Y. Chiu, J.G. Allen
Exploring The Assetisation And Financialisation Of Non-Fungible Tokens: Opportunities And Regulatory Implications, Iris H. Y. Chiu, J.G. Allen
Research Collection Yong Pung How School Of Law
This article explores the emerging phenomenon of use cases for Non-fungible Tokens (NFTs) in novel forms of crypto-finance, a stage we call “NFT financialisation”, that can be developed from stages of consumption and commoditisation of NFTs, which are increasingly observed. Despite the emerging contests regarding property rights conferred by NFTs, the needs for commoditisation and financialisation in NFT markets would likely shape the delineation and framing of such rights in order for users to exploit the asset potential of NFTs. We argue that an institutional response is timely and beneficial for NFT financialisation. Financial regulatory governance can provide the institutions …
An Automation Tax- Adopt With Caution, Vincent Ooi
An Automation Tax- Adopt With Caution, Vincent Ooi
Research Collection Yong Pung How School Of Law
The post highlights three main issues that may result from the rapid and widespread automation of jobs: 1) declining tax revenues; 2) inequitable distribution of gains and losses from automation; and 3) social costs of job displacement, such as social support and retraining programmes for displaced workers.An automation tax may be imposed on a temporary basis to manage (slow) the rate of displacement of workers due to the adoption of automation technologies, but should not be a permanent feature. Otherwise, there will be a risk of loss of competitiveness in the long-term, possibly resulting in even greater economic harm.One main …
Decentralized Finance: Implications Of The So-Called Disintermediation Of Financial Services, Nydia Remolina Leon
Decentralized Finance: Implications Of The So-Called Disintermediation Of Financial Services, Nydia Remolina Leon
Research Collection Yong Pung How School Of Law
Decentralized Finance, known as DeFi, refers to the use of blockchain and digital assets or crypto-assets for the provision of financial services. Under this concept, services such as loans, insurance, crypto-asset exchanges, among others, are offered, are structured based on crypto-assets and through technologically decentralized applications. This chapter discusses the concept of DeFi and how it challenges the traditional market infrastructures of the financial sector, demystifying the idea of absolute decentralization, generally mentioned in the crypto-asset arena, from the perspective of decision-makers and governors of these decentralized applications. Subsequently, the chapter analyses the opportunities and challenges of DeFi for consumers, …
New Assets, (Largely) Same Old Rules: The Taxation Of Digital Tokens, Vincent Ooi
New Assets, (Largely) Same Old Rules: The Taxation Of Digital Tokens, Vincent Ooi
Research Collection Yong Pung How School Of Law
In this blog post, I highlight the fact that across jurisdictions, tax provisions specifically drafted to address the taxation of digital tokens are still quite rare, meaning that existing orthodox tax rules will have to be applied. However, care must be taken when applying tax provisions and one must be aware of the limits of "reasoning by analogy".Some tax provisions make reference to specific assets or asset classes and it cannot be assumed that digital tokens which look very similar to these assets will inevitably fall under those provisions. For example, no matter how much a digital payment token looks …
Major Government Customers And Loan Contract Terms, Daniel A. Cohen, Bin Li, Ningzhong Li, Yun Lou
Major Government Customers And Loan Contract Terms, Daniel A. Cohen, Bin Li, Ningzhong Li, Yun Lou
Research Collection School Of Accountancy
We examine the relation between the presence of U.S. government as a major customer and a supplier firm’s loan contract terms, using major corporate customers as a benchmark. We find that firms with major government customers are associated with fewer covenants and a lower likelihood of having performance pricing provisions in their loan contracts. In contrast, we do not find such associations for firms with major corporate customers. Further, we find no evidence that the existence of major government customers is related to the supplier firm’s loan spread, security, or maturity. We conjecture that lenders benefit from the stricter monitoring …
E-Commerce Governance: Back To Geneva?, Henry S. Gao
E-Commerce Governance: Back To Geneva?, Henry S. Gao
Research Collection Yong Pung How School Of Law
The World Trade Organization (WTO) is no stranger to e-commerce governance. It launched its first initiative to regulate e-commerce1 at its second Ministerial Conference in May 1998, a few months before Google was founded. At the Ministerial Conference, WTO members adopted the Declaration on Global Electronic Commerce, 2 which recognized the “new opportunities for trade,” and directed the General Council to “establish a comprehensive work programme to examine all trade-related issues relating to global electronic commerce, including those issues identified by Members.”
Charitable Organizations In Singapore: From Clan Based To State Facilitated Endeavors, Hang Wu Tang
Charitable Organizations In Singapore: From Clan Based To State Facilitated Endeavors, Hang Wu Tang
Research Collection Yong Pung How School Of Law
Singapore, with a five million population, has a vibrant charitable sector with over 2000 registered charities attracting approximately USD$2.18 billion in annual donations. How did Singapore’s charitable sector achieve its current level when it has been, in the past, segregated along mainly religious, race and clan-based communities? This paper explores this question by piecing together the current ecosystem, regulatory and tax infrastructure which facilitates the charitable sector in Singapore. Central to the development of the charitable sector has been the Singapore government’s role of being a gatekeeper, regulator and enabler of charities. In analysing the government’s role in the charitable …
Defining Smart Contract Defects On Ethereum, Jiachi Chen, Xin Xia, David Lo, John Grundy, Xiapu Luo, Ting Chen
Defining Smart Contract Defects On Ethereum, Jiachi Chen, Xin Xia, David Lo, John Grundy, Xiapu Luo, Ting Chen
Research Collection School Of Computing and Information Systems
Smart contracts are programs running on a blockchain. They are immutable to change, and hence can not be patched for bugs once deployed. Thus it is critical to ensure they are bug-free and well-designed before deployment. A Contract defect is an error, flaw or fault in a smart contract that causes it to produce an incorrect or unexpected result, or to behave in unintended ways. The detection of contract defects is a method to avoid potential bugs and improve the design of existing code. Since smart contracts contain numerous distinctive features, such as the gas system. decentralized, it is important …
China And E-Commerce: The Long And Winding Road, Henry S. Gao
China And E-Commerce: The Long And Winding Road, Henry S. Gao
Research Collection Yong Pung How School Of Law
Although it joined the World Trade Organization in 2001, China has largely kept silent on the e-commerce discussion and only made its first submission in this regard in 2016.
Spurring Digital Transformation In Singapore's Legal Industry, Xin Juan Chua, Steven M. Miller
Spurring Digital Transformation In Singapore's Legal Industry, Xin Juan Chua, Steven M. Miller
Research Collection School Of Computing and Information Systems
COVID-19 has transformed the way we live and work. It has caused the processes and operations of businesses and organisations to be restructured, as well as transformed business models. A 2020 McKinsey Global survey reported that companies all over the world claim they have accelerated the digitalisation of their customer and supply-chain interactions, as well as their internal operations, by three to four years. They also said they thought the share of digital or digitally enabled products in their portfolios has advanced by seven years. While technology transformation is not new to the legal profession, COVID-19 has cemented the importance …
Going Far Together By Being Here Now: Mindfulness Increases Cooperation In Negotiations, Theodore Charles Masters-Waage, Jared Nai, Jochen Reb, Samantha Sim, Jayanth Narayanan, Noriko Tan
Going Far Together By Being Here Now: Mindfulness Increases Cooperation In Negotiations, Theodore Charles Masters-Waage, Jared Nai, Jochen Reb, Samantha Sim, Jayanth Narayanan, Noriko Tan
Research Collection Lee Kong Chian School Of Business
Integrating theorizing across the mindfulness and negotiation literatures, we hypothesize that mindfulness increases cooperation in negotiations. We further propose that processes of self-transcendence, self-regulation, and self-awareness mediate this effect. We test these hypotheses in five studies across different forms of cooperation, in both distributive and integrative negotiation contexts, and for both measured and experimentally induced mindfulness. In Study 1a, individuals higher on measured state mindfulness displayed greater cooperative orientation measured as preference for pareto-optimal agreements. In Study 1b, experimentally induced mindfulness led to greater cooperative orientation measured as the recall of cooperative heuristics. In Study 2, a distributive (fixed-sum) negotiation, …
Making Money From Cryptocurrency? The Taxman May Call On You, Hern Kuan Liu, Vincent Ooi
Making Money From Cryptocurrency? The Taxman May Call On You, Hern Kuan Liu, Vincent Ooi
Research Collection Yong Pung How School Of Law
Miners, forgers, hobbyists, traders – different rules apply. Just don’t assume crypto investment is somehow immune to taxation.
Towards A Calibrated Trust-Based Approach To The Use Of Facial Recognition Technology, Gary Kok Yew Chan
Towards A Calibrated Trust-Based Approach To The Use Of Facial Recognition Technology, Gary Kok Yew Chan
Research Collection Yong Pung How School Of Law
The use of facial recognition technology has given rise to much debate relating to issues concerning privacy infringements, bias and inaccuracies of data and outputs, possibilities of covert use, the lack of data security and the problem of function creep. Certain states and jurisdictions have called for bans and moratoria on the use of facial recognition technology. This paper argues that a blanket ban on facial recognition technology would be overly precautionary without fully considering the wide range of uses and benefits of the innovation. To promote its acceptance, trust in facial recognition technology should be developed in a calibrated …
What’S The Best Way To Give Ground In A Negotiation?, Kian Siong Tey, Michael Schaerer, Nikhil Madan, Roderick Swaab
What’S The Best Way To Give Ground In A Negotiation?, Kian Siong Tey, Michael Schaerer, Nikhil Madan, Roderick Swaab
Research Collection Lee Kong Chian School Of Business
How much should you change your offer at each round of a negotiation? The stakes can be high: Give away too much and you devalue your offer; give away too little and you risk getting stuck in an impasse. The authors’ recent research shows that a rare approach to concessions — reducing the amount by which you reduce your offer each round — can yield the most value because it sends a clear signal about your final offer.
Implementing An Insolvency Framework For Micro And Small Firms, Aurelio Gurrea-Martinez
Implementing An Insolvency Framework For Micro And Small Firms, Aurelio Gurrea-Martinez
Research Collection Yong Pung How School Of Law
Micro-, small-, and medium-sized enterprises (MSMEs) represent the vast majority of businesses in most countries around the world. Despite the economic relevance of these firms, most insolvency jurisdictions do not provide adequate responses to MSMEs. Moreover, with a few exceptions, the academic literature on insolvency law has not traditionally focused on the treatment of MSMEs in insolvency. This article seeks to contribute to the debate by exploring the primary features and problems of MSMEs in insolvency as well as the weaknesses of the ordinary insolvency framework to deal with MSMEs. It also provides a general overview of the primary reforms …
Turning The Tables In Research And Development Licensing Contracts, Niyazi Taneri, Pascale Crama
Turning The Tables In Research And Development Licensing Contracts, Niyazi Taneri, Pascale Crama
Research Collection Lee Kong Chian School Of Business
Research and development (R&D) collaborations between an innovator and her partner are often undertaken when neither party can bring the product to market individually, which precludes value creation without a joint effort. Yet, the uncertain nature of R&D complicates the monitoring of effort, and the resulting moral hazard reduces a collaboration’s value. Either party can avoid this outcome by acquiring the capability that is missing and then taking sole ownership of the project. That approach involves two types of risks: one related to whether the other party’s capability will be acquired and one related to how well it will be …
Singapore Will Soon Have Workplace Anti-Discrimination Laws: Here’S What You Need To Know, Benjamin Joshua Ong
Singapore Will Soon Have Workplace Anti-Discrimination Laws: Here’S What You Need To Know, Benjamin Joshua Ong
Research Collection Yong Pung How School Of Law
Work is often a significant part of one’s life. Decisions by employers — including hiring decisions and choices on how to treat employees at work — can have life-changing effects on lives and livelihoods. Therefore, if there were reason to suspect that some employers make such decisions on the grounds of applicants’ or employees’ race, sex, or other personal characteristics without a valid reason, then we should be worried. If that were to become widespread, our society would suffer. Some people would face greater challenges than others at work, and therefore in life, merely because of who they are.
Sporting Excellence And Ns: Abiding Principles For Rite Of Passage For Singaporean Sons, Tan K. B. Eugene
Sporting Excellence And Ns: Abiding Principles For Rite Of Passage For Singaporean Sons, Tan K. B. Eugene
Research Collection Yong Pung How School Of Law
In a commentary, SMU Associate Professor of Law Eugene Tan discussed how strict criteria for long-term national service (NS) deferment are necessary and fair to preserve universality and equity for all national servicemen, and must be applied without fear or favour. He explained the principles undergirding NS and gave examples of athletes achieving sporting excellence alongside fulfilling NS duties.
Tackling The Critical Question Of Schooling’S Ns Deferment After His Poor Tokyo Olympics Performance, Tan K. B. Eugene
Tackling The Critical Question Of Schooling’S Ns Deferment After His Poor Tokyo Olympics Performance, Tan K. B. Eugene
Research Collection Yong Pung How School Of Law
In a commentary, SMU Associate Professor of Law Eugene Tan, who was team manager of Singapore’s 2004 Athens Olympics national swim team, discussed the critical question of Singapore’s sporting icon Joseph Schooling’s National Service (NS) deferment after his subpar performance at the Tokyo Olympics. Joseph has been on long-term NS deferment since 2014. Assoc Prof Tan noted that what is at stake is the integrity of long-term deferment, and the precedent-setting decision calculus which would come under intense scrutiny.