Social and Behavioral Sciences Commons^™

The Optimal Degree Of Reciprocity In Tariff Reduction, Pao-Li Chang

Research Collection School Of Economics

This paper characterizes the optimal reciprocal trade policy in the environment of Melitz (2003) with firm productivity heterogeneity. In particular, without making parametric assumptions on firm productivity distribution, this paper derives the optimal degree of reciprocal tariff reductions that maximize the world welfare. A reciprocal import subsidy raises the industry productivity, lowering aggregate price; a reciprocal import tariff helps correct the markup distortion, increasing nominal income. With all the conflicting effects of import tariffs on welfare considered, the optimal degree of reciprocity in multilateral tariff reduction is shown to be free trade.

Order On Types Based On Monotone Comparative Statics, Takashi Kunimoto, Takuro Yamashita

Research Collection School Of Economics

This paper introduces a novel concept of orders on types by which the so-called monotone comparative statics is valid in all supermodular games with incomplete information. We fully characterize this order in terms of what we call common optimism, providing a sense in which our order has a sharp epistemic interpretation. We say that type ti′ is higher than type ti in the order of the common optimism if ti′ is more optimistic about state than ti; ti′ is more optimistic that all players are more optimistic about state than ti; and so on, ad infinitum. First, we show that …

Maximum Likelihood Estimation For The Fractional Vasicek Model, Katsuto Tanaka, Weilin Xiao, Jun Yu

Research Collection School Of Economics

This paper estimates the drift parameters in the fractional Vasicek model from a continuous record of observations via maximum likelihood (ML). The asymptotic theory for the ML estimates (MLE) is established in the stationary case, the explosive case, and the boundary case for the entire range of the Hurst parameter, providing a complete treatment of asymptotic analysis. It is shown that changing the sign of the persistence parameter changes the asymptotic theory for the MLE, including the rate of convergence and the limiting distribution. It is also found that the asymptotic theory depends on the value of the Hurst parameter.

Estimation Of Conditional Average Treatment Effects With High-Dimensional Data, Qingliang Fan, Yu-Chin Hsu, Robert P. Lieli, Yichong Zhang

Research Collection School Of Economics

Given the unconfoundedness assumption, we propose new nonparametric estimators for the reduced dimensional conditional average treatment effect (CATE) function. In the first stage, the nuisance functions necessary for identifying CATE are estimated by machine learning methods, allowing the number of covariates to be comparable to or larger than the sample size. This is a key feature since identification is generally more credible if the full vector of conditioning variables, including possible transformations, is high-dimensional. The second stage consists of a low-dimensional kernel regression, reducing CATE to a function of the covariate(s) of interest. We consider two variants of the estimator …

Capital Controls And Macro-Prudential Housing Policies In Small Open Economies, Taojun Xie, Guay C. Lim, Hwee Kwan Chow

Research Collection School Of Economics

We evaluate the effects of capital controls and macro-prudential policies in small open economies with a housing sector that is open to foreign ownership. The work is motivated by concerns that foreign investments also respond to housing investment opportunities resulting in potential house price inflation and issues about housing affordability. Our dynamic stochastic general equilibrium model features housing as an internationally traded investment. We also consider macro-prudential policies that are combinations of monetary and fiscal instruments. We investigate whether foreign investments in the housing markets are de-stabilising and whether there are appropriate policy responses to mitigate the negative effects of …

Do Short Sellers Use Textual Information? Evidence From Annual Reports, Hung Wan Kot, Frank Weikai Li, Ming Liu, K.C. John Wei

Research Collection Lee Kong Chian School Of Business

We examine short-sellers’ use of textual information in annual reports for shorting activities. We find that more uncertainty and negative words in annual reports are associated with greater abnormal shorting volume. Short selling motivated by textual information negatively predicts stock price reaction around the filing date of 10-K reports. We further provide some evidence that textual information used by short-sellers are related to revisions of analysts’ earnings forecasts, changes in firm fundamentals, and increasing crash risk subsequently. Our results suggest that textual information in annual reports forms an important part of short-sellers’ information advantage.

Public Cleanliness Satisfaction Survey [2019], Paulin Straughan, Mathews Mathew

Research Collection School of Social Sciences

The Singapore Management University undertook the third wave of the Public Cleanliness Satisfaction Survey (PCSS) with 1716 Singapore resident respondents providing responses before the start of the Circuit Breaker.

The 2019 wave of the PCSS continued to reflect the overall satisfaction with public cleanliness in Singapore. Satisfaction with cleanliness and cleaning services has improved substantially across all domains.

Ninety three percent of survey respondents were satisfied with the cleanliness of public spaces that they had recently visited, a 9% increase from the findings in 2018.

There was a substantial increase in satisfaction with the cleanliness of food and beverage (F&B) …

Why Have Candidates In Indonesian Elections Increasingly Been Rallying Ethnic And Religious Support?, Colm A. Fox

Research Collection School of Social Sciences

Ethnicity and religion often become politicised in elections. Research has found that this is particularly true during a transition to democracy. During these times, fragile democratic rules and practices, coupled with strong ethnic bonds, often motivate aspiring politicians to bolster their support by appealing to voters’ emotional allegiances to their tribe, ethnicity, or religion. But, Indonesia’s case is puzzling.

Providing Child Care, Christine Ho, Sunha Myong

Research Collection School Of Economics

Women’s economic empowerment has been hailed as one of the most remarkable revolutions in the past 50 years (Dunlop, 2010). Access to affordable childcare is one of the key determinants of fertility and maternal employment, with grandparents and governments often stepping up to provide much needed support to families. This chapter proposes a synthesis of the state of knowledge on child care and discusses policy relevant issues applicable to the Singapore context. Selected policies are documented and lessons from the international landscape are discussed. The chapter discusses how child care costs may affect fertility and maternal labour supply in Section …

Covid-19, Lockdown, And The Dynamics Of Subjective Well-Being, Terence C. Cheng, Kim, Kanghyock Koh

Research Collection School Of Economics

We provide novel evidence on how the COVID-19 global health and economic crisis is affecting overall life satisfaction and domain-specific satisfaction using data from a monthly longitudinal survey of middle-aged and older Singaporeans. Using a difference-in-differences framework, we document large declines in overall life satisfaction and domain-specific satisfaction during the COVID-19 outbreak, except satisfaction with health. These declines coincide with the introduction of a nationwide lockdown, with life satisfaction remaining below its pre-pandemic levels even after the lockdown is lifted. We also find that individuals who report a drop in household income during the COVID-19 outbreak experience a decline in …

Gamifying Place, Reimagining Publicness: The Heterotopic Inscriptions Of Pokémon Go, Orlando Woods

Research Collection School of Social Sciences

This paper explores the transformative effects of augmented reality mobile games on society and space. By layering playfulness onto public space through a digital interface, augmented reality mobile games create a pervasive sense of play that can be accessed by players potentially anywhere, and at any time. Games like these can therefore be understood as heterotopic inscriptions on otherwise mundane environments. Since being released in 2016, Pokémon Go has become one of the most popular augmented reality games in the world. It gamifies place by embedding digital objects within public spaces; in doing so, it can bring about a reimagination …

Towards More Inclusive Smart Cities: Reconciling The Divergent Logics Of Data And Discourse At The Margins, Jane Yeonjae Lee, Orlando Woods, Lily Kong

Research Collection School of Social Sciences

In this article, we survey a growing body of literature within geography and other intersecting fields that trains attention on what inclusive smart cities are, or what they could be. In doing so, we build on debates around smart citizens, smart public participation, and grassroots and bottom-up smart cities that are concerned with making smart cities more inclusive. The growing critical scholarship on such dis- courses, however, alerts us to the knowledge politics that are involved in, and the urban inequalities that are deeply rooted within, the urban. Technological interventions con- tribute to these politics and inequalities in various ways. …

Effects Of Social Media And Smartphone Use On Body Esteem In Female Adolescents: Testing A Cognitive And Affective Model, Hwajin Yang, Jiaqi Joy Wang, Yue Qi Germaine Tng, Sujin Yang

Research Collection School of Social Sciences

We examined the predictive relations of social media and smartphone use to body esteem in female adolescents and the mechanism that underlies these relations. As a result of frequent social media and smartphone use, adolescents are continually exposed to appearance-related media content. This likely reinforces a thin ideal and fosters appearance-based comparison and increases fear of external evaluation. Hence, we investigated a cognitive-affective framework in which the associations of social media and smartphone use with body esteem are serially mediated by cognitive internalization of an ideal body image, appearance comparisons, and social appearance anxiety. By testing female adolescents (N = …

Relationship Between Humidity And Physiology In Warm And Humid Conditions – A Literature Review, Yuliya Dzyuban

Research Collection School of Social Sciences

Change in precipitation patterns caused by global warming will likely increase humidity in some areas of the world. Moreover, populations in tropical climates with already high humidity levels can experience an added stress on their health and thermal comfort due to an amplifying effect of heat and moisture. Humidity is a generic term commonly used to describe moisture in the air. However, there are numerous variables that describe different properties of humid air that can be used in scientific studies. While relative humidity remains the most used, it has several shortcomings associated with its high correlation with air temperature. Thus, …

Screening Southeast Asia: Film, Politics, And The Emergence Of The Nation In Postwar Southeast Asia, Darlene Machell Espena

Research Collection School of Social Sciences

No abstract provided.

Visualization Research Lab At Hkust, Yong Wang

Research Collection School Of Computing and Information Systems

HKUST VisLab (http://vis.cse.ust.hk/) is one of the leading research labs in the field of data visualization and human-computer interaction worldwide. The lab is dedicated to conducting cutting-edge research on data visualization and human-computer interaction to facilitate data exploration and analytics in various application domains, including E-learning, urban computing, social media and industry 4.0. Starting from its foundation by Prof. Huamin Qu in August 2004, the mission of HKUST VisLab is to build an excellent visualization research center and foster data visualization research and talent cultivation in Asia, as there were very few visualization researchers in Asia around 2004.

The Future Of Work Now: The Multi-Faceted Mall Security Guard At A Multi-Faceted Jewel, Thomas H. Davenport, Steven M. Miller

Research Collection School Of Computing and Information Systems

One of the most frequently-used phrases at business events these days is “the future of work.” It’s increasingly clear that artificial intelligence and other new technologies will bring substantial changes in work tasks and business processes. But while these changes are predicted for the future, they’re already present in many organizations for many different jobs. The job and incumbents described below are an example of this phenomenon. Steve Miller of Singapore Management University and I co-authored the story.

Bus Frequency Optimization: When Waiting Time Matters In User Satisfaction, Songsong Mo, Zhifeng Bao, Baihua Zheng, Zhiyong Peng

Research Collection School Of Computing and Information Systems

Reorganizing bus frequency to cater for the actual travel demand can save the cost of the public transport system significantly. Many, if not all, existing studies formulate this as a bus frequency optimization problem which tries to minimize passengers’ average waiting time. However, many investigations have confirmed that the user satisfaction drops faster as the waiting time increases. Consequently, this paper studies the bus frequency optimization problem considering the user satisfaction. Specifically, for the first time to our best knowledge, we study how to schedule the buses such that the total number of passengers who could receive their bus services …

Zone Path Construction (Zac) Based Approaches For Effective Real-Time Ridesharing, Meghna Lowalekar, Pradeep Varakantham, Patrick Jaillet

Research Collection School Of Computing and Information Systems

Real-time ridesharing systems such as UberPool, Lyft Line, GrabShare have become hugely popular as they reduce the costs for customers, improve per trip revenue for drivers and reduce traffic on the roads by grouping customers with similar itineraries. The key challenge in these systems is to group the "right" requests to travel together in the "right" available vehicles in real-time, so that the objective (e.g., requests served, revenue or delay) is optimized. This challenge has been addressed in existing work by: (i) generating as many relevant feasible (with respect to the available delay for customers) combinations of requests as possible …

Pricing And Equilibrium In On-Demand Ride-Pooling Markets, Jintao Ke, Hai Yang, Xinwei Li, Hai Wang, Jieping Ye

Research Collection School Of Computing and Information Systems

With the recent rapid growth of technology-enabled mobility services, ride-sourcing platforms, such as Uber and DiDi, have launched commercial on-demand ride-pooling programs that allow drivers to serve more than one passenger request in each ride. Without requiring the prearrangement of trip schedules, these programs match on-demand passenger requests with vehicles that have vacant seats. Ride-pooling programs are expected to offer benefits for both individual passengers in the form of cost savings and for society in the form of traffic alleviation and emission reduction. In addition to some exogenous variables and environments for ride-sourcing market, such as city size and population …

A Genetic Algorithm To Minimise Number Of Vehicles In An Electric Vehicle Routing Problem, Kiian Leong Bertran Queck, Hoong Chuin Lau

Research Collection School Of Computing and Information Systems

Electric Vehicles (EVs) and charging infrastructure are starting to become commonplace in major cities around the world. For logistics providers to adopt an EV fleet, there are many factors up for consideration, such as route planning for EVs with limited travel range as well as long-term planning of fleet size. In this paper, we present a genetic algorithm to perform route planning that minimises the number of vehicles required. Specifically, we discuss the challenges on the violations of constraints in the EV routing problem (EVRP) arising from applying genetic algorithm operators. To overcome the challenges, techniques specific to addressing the …

Turning The Covid-19 Pandemic Into Opportunities For Digital Transformation: Sharing The Singapore Management University Libraries Experience, Bethany Wilkes, Rajendra Munoo

Research Collection Library

No abstract provided.

Giving And Receiving: A Study Of Barriers And Enablers In Asian Philanthropy, Dalvin Sidhu, Jinwen Chen

Lien Centre for Social Innovation: Research

This report provides an insight into Asian philanthropy through engaging with philanthropic entities (PEs) in Greater China, India and Indonesia. Issues pertinent to this research include (1) challenges and opportunities for philanthropy in the region, (2) the interest and readiness of PEs to address common regional problems, (3) identifying support and platforms that would effectively help translate giving strategies into impact, (4) the interest and readiness of PEs to explore and engage in innovative ways, and (5) identifying the major areas in which these PEs are involved.

The Hunger Report: An In-Depth Look At Food Insecurity In Singapore, Tania Nagpaul, Dalvin Sidhu, Jinwen Chen

Lien Centre for Social Innovation: Research

This report provides a detailed account of the first nationally representative study on the largely hidden problem of food insecurity in Singapore.

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 …

Risk Control System Construction Of China’S Equity Crowdfunding Platforms: A Comparative Study On The Differences Between Equity Crowdfunding And Traditional Venture Capital Investment, Wentao Bai

Dissertations and Theses Collection (Open Access)

Equity crowdfunding is a new type of public financing activity realized by Internet technology with small single investments funds, which is different from traditional venture capital. It greatly solves the equity investment problem of middle-class people and the difficulties of small and medium-sized enterprises and start-ups in financing. It is also conducive to the construction of multi-level capital market, and the healthy development of national financial system. Due to the advantages of equity crowdfunding, the global equity crowdfunding market has developed rapidly in recent years. Unfortunately, China's formal legislation on equity crowdfunding has not been introduced yet. Each platform can …

Discretionary Dissemination On Twitter, Richard M. Crowley, Wenli Huang, Hai Lu

Research Collection School Of Accountancy

Using an unsupervised machine learning approach to analyze 12.8 million tweets posted by S&P 1500 firms from 2012 to 2016, we find that firms tweet more financial information around significantly negative or positive earnings announcements or accounting filings. Specifically, we observe a symmetric U-shaped relation between the number of financial tweets and the materiality of accounting information events. This relation is consistent with the theoretical prediction in Hummel et al. (2018) which assumes that managers are sensitive to their firm’s fundamental value. We document that this relation also holds for hyperlink usage in tweets about financial information around important events, …

Philanthropic Structuring: The Asian Context, Hang Wu Tang, Man Yip, Vincent Ooi

Research Collection Yong Pung How School Of Law

Asian philanthropy has tremendous potential for growth. Even as the population of ultra-rich individuals in Asia continues to expand, studies indicate that Asian philanthropists have the capacity to give a lot more. The key to tapping into the massive potential for Asian giving and catalysing sustainable and impactful philanthropy in Asia, is to understand the Asian way of giving and embrace strategic institutional and industry innovation.Our paper proposes three strategic directions to expand access to philanthropy: encouraging giving beyond one’s home and religious causes; encouraging everyone to give regardless of the size of the gift; and encouraging formal giving.Strong support …

Laden With Great Expectations: (Re)Mapping The Arts Housing Policy As Urban Cultural Policy In Singapore, Su Fern Hoe

Research Collection School of Social Sciences

The arts and artists need space to thrive. However, as much of the land in Singapore is state-owned, the finiteness of space – literally and figuratively – remains a key challenge. Yet there is a rich variety of arts infrastructure in Singapore today, from exhibition spaces to performing arts venues and state-subsidised artist studios. This infrastructure comes at a cost - these arts spaces are positioned as policy interventions capable of achieving a broad confluence of cultural, urban, economic and social outcomes for Singapore.

This article aims to provide an understanding of how arts spaces in Singapore has been framed …

企业如何与大学合作开发网上业务？[How Companies Cooperate With Universities To Develop Online Business?], Yuanto Kusnadi

Research Collection School Of Accountancy

No abstract provided.