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Articles 1 - 8 of 8
Full-Text Articles in Business
Invitation Strategy For Cutting Edge Industries Through Mncs And Global Talents: The Case Of Singapore, Kim Song Tan
Invitation Strategy For Cutting Edge Industries Through Mncs And Global Talents: The Case Of Singapore, Kim Song Tan
Research Collection School Of Economics
Singapore presents an interesting case of how a country achieves dynamic economic development and innovation through the "invitation" strategy of a business hub. Despite being a small city-state with limited domestic market size and no meaningful hinterland or natural resources to speak of, Singapore has managed to transform its economy dramatically over the past 50 years by leveraging the strengths of other economies. Specifically, it has been able to attract (or "invite") various types of productive resources, including foreign capital, foreign technology and foreign workers (both skilled and unskilled) to make up for what it lacks. This has helped Singapore …
Mismatches In Tax Outcomes In The Light Of Beps Actions 2 And 5, Lukas Mechtler, Cindy Siu Ching Wong
Mismatches In Tax Outcomes In The Light Of Beps Actions 2 And 5, Lukas Mechtler, Cindy Siu Ching Wong
Research Collection School Of Economics
No abstract provided.
Territorial Tax System Reform And The Financial Behavior Of Multinational Firms, Jing Xing, Stephen Bond, Giorgia Maffini
Territorial Tax System Reform And The Financial Behavior Of Multinational Firms, Jing Xing, Stephen Bond, Giorgia Maffini
Research Collection School Of Economics
We investigate whether the move from the worldwide tax system to the territorial tax system in Japan in 2009 affects the financial behavior of overseas affiliates of Japanese multinational companies. The reform substantially reduces the tax costs of profit repatriation in the form of dividends for Japanese overseas affiliates. We use this reform as a quasi-natural experiment to investigate whether and how the tax system affects multinationals’ cash holding and financing policies. Findings from our study sheds some light on possible outcomes of similar tax reforms in countries such as the United States. Based on a sample of Japanese overseas …
Asset Pricing With Financial Bubble Risk, Ji Hyung Lee, Peter C. B. Phillips
Asset Pricing With Financial Bubble Risk, Ji Hyung Lee, Peter C. B. Phillips
Research Collection School Of Economics
This paper characterizes systematic risk stemming from the possible occurrence of price bubbles and measures the impact of this additional risk factor on asset prices. Historical stock market behavior and recent empirical experience have led economists and policy makers to acknowledge that price bubbles in financial markets do occur and need to be accounted for in risk analysis. New econometric tools for analyzing mildly explosive behavior (Phillips and Magdalinos, 2007; Phillips et al., 2011) have made it possible to detect the presence of bubbles in data and to date stamp their origination and collapse, providing empirical confirmation of such episodes …
Sequential Auctions With Descending Reserve Prices, Massimiliano Landi
Sequential Auctions With Descending Reserve Prices, Massimiliano Landi
Research Collection School Of Economics
No abstract provided.
Entrepreneurship, Education And Credit: The Golden Triangle, Roberto M. Samaniego, Juliana Yu Sun
Entrepreneurship, Education And Credit: The Golden Triangle, Roberto M. Samaniego, Juliana Yu Sun
Research Collection School Of Economics
We develop a model to evaluate the impact of college education finance on welfare, inequality and aggregate outcomes. Our model captures the stylized fact that entrepreneurs with college are more common and more profitable. Our calibration to US data suggests this is mainly because higher labor earnings allow college educated agents to ameliorate credit constraints when they become entrepreneurs. The welfare benefits of subsidizing education are greater than those of eliminating financing constraints on education because subsidies ameliorate the impact of financing constraints on would-be entrepreneurs.
Housing Policies In Singapore, Sock Yong Phang, Matthias Helble
Housing Policies In Singapore, Sock Yong Phang, Matthias Helble
Research Collection School Of Economics
Singapore has developed a unique housing system, with three-quarters of its housing stock built by the Housing & Development Board (HDB) and homeownership financed through Central Provident Fund (CPF) savings. As a result, the country’s homeownership rate of 90% is one of the highest among market economies. At different stages of its economic development, the Government of Singapore was faced with a different set of housing problems. An integrated land–housing supply and financing framework was established in the 1960s to solve the severe housing shortage. By the 1990s, the challenge was that of renewing aging estates and creating a market …
Are House Prices Driven By Capital Flows? Evidence From Singapore, Hwee Kwan Chow, Taojun Xie
Are House Prices Driven By Capital Flows? Evidence From Singapore, Hwee Kwan Chow, Taojun Xie
Research Collection School Of Economics
This paper investigates whether real house price appreciations can be attributed to the surge in real capital inflows into Singapore. We proxy capital flows by using the amount of foreign direct investments (FDI) to real estate capturing the foreign purchases of property in Singapore which we deflate by the private residential property price index. Notwithstanding the absence of a cointegrating relationship, our results support the hypothesis that lagged short term fluctuations in capital inflows are positively associated with the growth rates of house prices over the last decade. We also provide evidence that macroprudential measures implemented by Singapore reduced the …