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Articles 3721 - 3750 of 9289

Full-Text Articles in Social and Behavioral Sciences

Climate Risks And Market Efficiency, Harrison Hong, Frank Weikai Li, Jiangmin Xu Jan 2019

Climate Risks And Market Efficiency, Harrison Hong, Frank Weikai Li, Jiangmin Xu

Research Collection Lee Kong Chian School Of Business

Climate science finds that the trend towards higher global temperatures exacerbates the risks of droughts. We investigate whether the prices of food stocks efficiently discount these risks. Using data from thirty-one countries with publicly-traded food companies, we rank these countries each year based on their long-term trends toward droughts using the Palmer Drought Severity Index. A poor trend ranking for a country forecasts relatively poor profit growth for food companies in that country. It also forecasts relatively poor food stock returns in that country. This return predictability is consistent with food stock prices underreacting to climate change risks.

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Career Sponsorship: An Effective Way For Developing Women Leaders, Jovina Ang Jan 2019

Career Sponsorship: An Effective Way For Developing Women Leaders, Jovina Ang

Research Collection Lee Kong Chian School Of Business

Other than an effective career progression strategy, this research, which comprised of an autoethnography and an in-depth qualitative case study research showed that career sponsorship could be an effective strategy for developing women leaders. In the sponsor relationship, sponsors invest considerable time, effort and resources in developing sponsees, thus, preparing them for the top jobs. In addition to developing the skills on the leadership strataplex, career sponsorship has been shown to be an enabler for developing confidence, which is one of the necessary ingredients for developing executive presence. Career sponsorship also fills the gap and addresses the shortcomings that arise …

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Does Having A Bad Boss Make You More Likely To Be One Yourself?, Shannon G. Taylor, Robert Folger, Abhijeet K. Vadera, Matthew D. Griffith, Chaim R. Letwin Jan 2019

Does Having A Bad Boss Make You More Likely To Be One Yourself?, Shannon G. Taylor, Robert Folger, Abhijeet K. Vadera, Matthew D. Griffith, Chaim R. Letwin

Research Collection Lee Kong Chian School Of Business

Toxic bosses harm employees in countless ways — for instance, by lowering morale, diminishing well-being, and increasing work-family conflict. Estimates suggest abusive supervision costs organizations millions in lost productivity, employee turnover, and litigation each year. Although prior research has found that leader behaviors can “trickle down” to affect the actions of employees at lower organizational levels, surely not all abused supervisors abuse their own subordinates. So when do supervisors perpetuate abuse in organizations, when don’t they, and why?

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Intraday Information From S&P 500 Index Futures Options, Kian Guan Lim, Chen Ying, Kian Leong Nelson Yap Jan 2019

Intraday Information From S&P 500 Index Futures Options, Kian Guan Lim, Chen Ying, Kian Leong Nelson Yap

Research Collection Lee Kong Chian School Of Business

In this paper we employ intraday transaction prices of liquid E-mini S&P 500 index futuresoptions to form 10-minutes ahead risk-neutral skewness forecasts and show profitable optionstrading strategy net of transaction costs. We do not find profitable trading based on 10-minutesahead risk-neutral volatility and only very marginal cases of profitable trading using kurtosisforecasts. The skewness profitability anomaly may be an indication of informational marketinefficiency in intraday S&P 500 futures options markets, which is contrary to findings usinglonger-span daily and weekly moments. Our results lend credence to the persistence of intradaytrading activities in the markets.

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Assessing Meaningful Within-Person Variability In Likert-Scale Rated Personality Descriptions: An Irt Tree Approach, Jonas W. B. Lang, Filip Lievens, Filip De Fruyt, Ingo Zettler, Jennifer L. Tackett Jan 2019

Assessing Meaningful Within-Person Variability In Likert-Scale Rated Personality Descriptions: An Irt Tree Approach, Jonas W. B. Lang, Filip Lievens, Filip De Fruyt, Ingo Zettler, Jennifer L. Tackett

Research Collection Lee Kong Chian School Of Business

Personality researchers and clinical psychologists have long been interested in withinperson variability in a given personality trait. Two critical methodological challenges that stymie current research on within-person variability are separating meaningful within-person variability from 1) true differences in trait level and 2) careless responding (or person unreliability). To partly avoid these issues, personality researchers commonly only study within-person variability in personality states over time using the standard deviation (SD) across repeated measurements of the same items (typically across days)—a relatively resource-intensive approach. In this article, we detail an approach that allows researchers to measure another type of within-person variability. The …

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Assessing The Use Of Social Media For Employee Engagement In The Singapore Military, Kevin Kok-Yew Tan, Augustine Pang Jan 2019

Assessing The Use Of Social Media For Employee Engagement In The Singapore Military, Kevin Kok-Yew Tan, Augustine Pang

Research Collection Lee Kong Chian School Of Business

The purpose of this paper is to assess the potential of using social media in employee engagement within the Singapore military through the theoretical lens of organizational listening, and to ascertain the implications to corporate organizational communication with the transferability of findings made possible by a common pool from which both military and corporate draw their employees. 20 interviewees with varied demographics were interviewed in this research. Findings showed that:- Text messaging and social media were common communication platforms used for employee engagement;- Employees feel proud when the organization showcases good work on social media;- Social media use must be …

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Transplanting Chapter 11 Of The Us Bankruptcy Code Into Singapore's Restructuring And Insolvency Laws: Opportunities And Challenges, Gerald Mccormack, Wai Yee Wan Jan 2019

Transplanting Chapter 11 Of The Us Bankruptcy Code Into Singapore's Restructuring And Insolvency Laws: Opportunities And Challenges, Gerald Mccormack, Wai Yee Wan

Research Collection Yong Pung How School Of Law

In 2017, Singapore introduced wide-ranging reformsto its insolvency and restructuring laws with a view to enhancing itsattractiveness as an international centre for debt restructuring. Central tothese reforms is the transplantation (with modification) of certain provisionsfrom Chapter 11 of the US Bankruptcy Code including the automatic moratorium, cross-creditorcram-down, rescue financing and pre-packs. Drawing upon the US experience andsimilar reform proposals in the EU (including the UK), we critically evaluate theimpact of the new Singapore law. We argue that there remain challenges inensuring that the transplantation works well and highlight the possibleunintended consequences of such transplantation.

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Doing Business And Increasing Emissions? An Exploratory Analysis Of The Impact Of Business Regulation On Co2 Emissions, Annika Marie Rieger Jan 2019

Doing Business And Increasing Emissions? An Exploratory Analysis Of The Impact Of Business Regulation On Co2 Emissions, Annika Marie Rieger

Research Collection School of Social Sciences

Since 2005, the World Bank has released a data set titled "Doing Business: Measuring Business Regulations." These data have become an important set of indicators of the international business climate. However, the impacts of pro-business regulation on the environment have generally been overlooked. To help resolve this problem, I estimate a time-series cross-sectional Prais-Winsten regression model to test the relationship between business climate—represented by the World Bank’s Doing Business data set—and carbon dioxide (CO2) emissions in developing nations over 10 years, from 2005 to 2014. The results show that there is a statistically significant and positive association between business climate …

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A Network Analysis Of The Singapore Court Of Appeal’S Citations To Precedent, Jerrold Tsin Howe Soh Jan 2019

A Network Analysis Of The Singapore Court Of Appeal’S Citations To Precedent, Jerrold Tsin Howe Soh

Research Collection Yong Pung How School Of Law

This article presents findings from an empirical network analysis of citation practices in Singapore's highest court.A network of all 987 reported Court of Appeal judgments handed down from 2000 to 2017 is constructed. Networkcentrality algorithms are used to rank judgments by centrality. Judgments on contract law, particularly on contractual interpretation and terms, emerge as the most central. Based on this, this article argues that more attention can be paid to interpretation per se as a legal skill. More generally, this article establishes a framework for applying network analysis to Singapore jurisprudence on a larger scale.

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Surrogacy, Child’S Welfare, And Public Policy In Adoption Applications, Seow Hon Tan Jan 2019

Surrogacy, Child’S Welfare, And Public Policy In Adoption Applications, Seow Hon Tan

Research Collection Yong Pung How School Of Law

This case note discusses the Singapore High Court case of UKM, in which an order was granted to a gay man to adopt his biological son conceived through a gestational surrogacy arrangement in the United States. In particular, the High Court’s assessment of the welfare of the child and of public policy, in light of two factors—the prohibition of male homosexual acts in section 377A of the Penal Code and the de facto curtailment of domestic surrogacy by Singapore’s restrictive rules relating to the use of assisted reproduction technology services—will be examined.

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An Asian View On The Ceta Investment Chapter, Locknie Hsu Jan 2019

An Asian View On The Ceta Investment Chapter, Locknie Hsu

Research Collection Yong Pung How School Of Law

The Canada-EU Free Trade Agreement (CETA) has been completed and awaits ratification against a backdrop of global economic uncertainty. The Trans-Pacific Partnership Agreement (TPP), which includes five Asian parties among its signatories, has lost the support of the United States and its fate is uncertain as well. The CETA is significant for Asian countries given that one of its parties -- the EU -- has signalled strongly that it wishes to negotiate a number of free trade agreements in the Asian region. The agreement offers valuable insight into the thinking of the EU in terms of investment protection guarantees, its …

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The Singapore Convention On Mediation - A Brighter Future For Asian Dispute Resolution, Eunice Chua Jan 2019

The Singapore Convention On Mediation - A Brighter Future For Asian Dispute Resolution, Eunice Chua

Research Collection Yong Pung How School Of Law

On 26 June 2018, the UnitedNations Commission on International Trade Law (UNCITRAL) approved, largelywithout modification, the final drafts of the Convention on International SettlementAgreements Resulting from Mediation (the Singapore Convention) and amendmentsto the Model Law on International Commercial Mediation prepared by WorkingGroup II. These instruments aim to promote the enforceability of internationalcommercial settlement agreements reached through mediation in the same way thatthe New York Convention facilitates the recognition and enforcement ofinternational arbitration awards. This paper provides a critical analysis of theSingapore Convention and some commentary from an Asian perspective.

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A Two-Round In-Class Trading Game On The Principle Of Comparative Advantage And The Theory Of Reciprocal Demand, Bei Hong Jan 2019

A Two-Round In-Class Trading Game On The Principle Of Comparative Advantage And The Theory Of Reciprocal Demand, Bei Hong

Research Collection School Of Economics

This paper outlines a classroom trading game that explores equilibrium terms of trade using the principle of comparative advantage and theory of reciprocal demand. Students are divided into eight groups. Each group is assigned a country with hypothetical productivity and each country seeks its trading partner based on comparative advantage. Students simulate the trading of goods between countries with the objective of achieving the best possible terms of trade. The game encourages students to reflect on their learning of the principle of comparative advantage, consider improvements in trade terms through negotiation, and summarize the conditions for mutually beneficial terms of …

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Nonstationary Panel Models With Latent Group Structures And Cross-Section Dependence, Wenxin Huang, Sainan Jin, Peter C. B. Phillips, Liangjun Su Jan 2019

Nonstationary Panel Models With Latent Group Structures And Cross-Section Dependence, Wenxin Huang, Sainan Jin, Peter C. B. Phillips, Liangjun Su

Research Collection School Of Economics

This paper proposes a novel Lasso-based approach to handle unobserved parameter heterogeneity and cross-section dependence in nonstationary panel models. In particular, a penalized principal component (PPC) method is developed to estimate group-specific long-run relationships and unobserved common factors and jointly to identify the unknown group membership. The PPC estimators are shown to be consistent under weakly dependent innovation processes. But they suffer an asymptotically non-negligible bias from correlations between the nonstationary regressors and unobserved stationary common factors and/or the equation errors. To remedy these shortcomings we provide three bias-correction procedures under which the estimators are re-centered about zero as both …

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Volatility Spillovers Among Oil And Stock Markets In The Us And Saudi Arabia, Marinela Adriana Finta, Bart Frijns, Alireza Tourani-Rad Jan 2019

Volatility Spillovers Among Oil And Stock Markets In The Us And Saudi Arabia, Marinela Adriana Finta, Bart Frijns, Alireza Tourani-Rad

Research Collection Lee Kong Chian School Of Business

In this article, we use high frequency data and an identification via changes in volatility approach to assess the volatility spillovers among oil and the US and Saudi Arabian stock markets. We document the existence of asymmetry in contemporaneous spillover effects. Particularly, during the times when oil’s trading hours overlap with the US and Saudi Arabian stock markets, the volatility spillover from oil to the stock markets is higher than the other way around. We highlight the importance of taking into consideration the information present during continuous trading hours of oil, especially during simultaneous trading hours with the stock markets. …

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Head Above The Parapet: How Minority Subordinates Influence Group Outcomes And The Consequences They Face, Burak Oc, Michael R. Bashshur, Celia Moore Jan 2019

Head Above The Parapet: How Minority Subordinates Influence Group Outcomes And The Consequences They Face, Burak Oc, Michael R. Bashshur, Celia Moore

Research Collection Lee Kong Chian School Of Business

The vast majority of research on power, social, and minority influence treats those who are recipients of powerholders’ decisions (i.e., subordinates) as an undifferentiated group, overlooking how recipients may respond in unique ways to the decisions that affect them. In this paper we examine the role of minority subordinates in shaping how powerholders allocate resources. We also explore how psychological distance between the minority subordinate and powerholder moderates this relationship, as well as the individual consequences minority subordinates face for articulating their unique opinions. In three experimental studies, we show that even as a lone voice, the feedback of a …

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Competition, Markups, And Gains From Trade: A Quantitative Analysis Of China Between 1995 And 2004, Wen-Tai Hsu, Yi Lu, Guiying Laura Wu Jan 2019

Competition, Markups, And Gains From Trade: A Quantitative Analysis Of China Between 1995 And 2004, Wen-Tai Hsu, Yi Lu, Guiying Laura Wu

Research Collection School Of Economics

This paper provides a quantitative analysis of gains from trade in a model with head-to-head competition using Chinese firm-level data from Economic Censuses in 1995 and 2004. We find a significant reduction in trade cost during this period, and total gains from such improved openness during this period is 7:1%. The gains are decomposed into a Ricardian component and two pro-competitive ones. The procompetitive effects account for 20% of the total gains. Moreover, the total gains from trade are 13 31% larger than what would result from the formula provided by ACR (Arkolakis, Costinot, and Rodríguez-Clare 2012), which nests a …

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On Factor Models With Random Missing: Em Estimation, Inference, And Cross Validation, Liangjun Su, Ke Miao, Sainan Jin Jan 2019

On Factor Models With Random Missing: Em Estimation, Inference, And Cross Validation, Liangjun Su, Ke Miao, Sainan Jin

Research Collection School Of Economics

We consider the estimation and inference in approximate factor models with random missing values. We show that with the low rank structure of the common component, we can estimate the factors and factor loadings consistently with the missing values replaced by zeros. We establish the asymptotic distributions of the resulting estimators and those based on the EM algorithm. We also propose a cross validation-based method to determine the number of factors in factor models with or without missing values and justify its consistency. Simulations demonstrate that our cross validation method is robust to fat tails in the error distribution and …

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Made In Singapore, Pao-Li Chang, Phuong T. B. Nguyen Jan 2019

Made In Singapore, Pao-Li Chang, Phuong T. B. Nguyen

Research Collection School Of Economics

In this paper, we characterize the position of Singapore in global value chains and identify Singapore's key upstream and downstream trade partners. We trace how the position of Singapore in global value chains has changed in the past two decades: whether it has moved upstream or downstream, how involved it is in global value chains, how its trend compares with other major Asian exporting countries (China, Japan, Korea and Taiwan), and which key sectors of Singapore play a major role in these global trade networks.

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Monthly Spending Dynamics Of The Elderly Following A Health Shock: Evidence From Singapore, Terence C. Cheng, Jing Li, Rhema Vaithianathan Jan 2019

Monthly Spending Dynamics Of The Elderly Following A Health Shock: Evidence From Singapore, Terence C. Cheng, Jing Li, Rhema Vaithianathan

Research Collection School Of Economics

We use novel longitudinal data from 19 monthly waves of the Singapore Life Panel to examine the short-term dynamics of the effects health shocks have on household health and non-health spending and income by the elderly. The health shocks we study are the occurrence of new major conditions such as cancer, heart problems, and minor conditions (e.g. diabetes, and hypertension). Our empirical strategy exploits unanticipated changes in health status through the diagnosis of new health conditions, combined with an individual fixed effect framework. We find that major shocks have large and persistent effects while minor shocks have small and mainly …

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Overseas Listing Location And Cost Of Capital: Evidence From Chinese Firms Listed In Hong Kong, Singapore, And The United States, Warrington College Of Business, Frank Weikai Li, Central University Of Finance And Economics Jan 2019

Overseas Listing Location And Cost Of Capital: Evidence From Chinese Firms Listed In Hong Kong, Singapore, And The United States, Warrington College Of Business, Frank Weikai Li, Central University Of Finance And Economics

Research Collection Lee Kong Chian School Of Business

As at the end of 2012, more than 600 nonstate-owned Chinese firms were listed in overseas stock markets. We find that Chinese firms listed in the US have the lowest cost of capital when compared to those listed in Hong Kong and Singapore, and these results hold when controlling for firm characteristics and the endogeneity of listing locations. Cross-sectional tests indicate that listing in the US is more beneficial to those firms which face higher information asymmetry and agency costs. Overall, our evidence supports the view that the institutional environment has a first-order impact on a firm’s cost of capital.

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Sustainable Digital Finance In Asia: Creating Environmental Impact Through Bank Transformation, Ryan Knowles Merrill, Simon J.D. Schillebeeckx, Sofie Blakstad Jan 2019

Sustainable Digital Finance In Asia: Creating Environmental Impact Through Bank Transformation, Ryan Knowles Merrill, Simon J.D. Schillebeeckx, Sofie Blakstad

Research Collection Lee Kong Chian School Of Business

Data is arguably the most valuable resource in the digital economy. Used effectively and responsibly it has the potential to serve as a driving force in creating a more sustainable world. The potential is especially potent in the financial sector given its central place in the financial system, and its access to and use of data.Using technologies such as blockchain, artificial intelligence (AI), mobile technology, internet of things (IoT), and the cloud, data can be captured by sensors in the environment and structured to integrate sustainability into existing financial products and services. These can be creatively combined into entirely new …

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Trading Regularity And Fund Performance, Jeffrey Busse, Lin Tong, Qing Tong, Zhe Zhang Jan 2019

Trading Regularity And Fund Performance, Jeffrey Busse, Lin Tong, Qing Tong, Zhe Zhang

Research Collection Lee Kong Chian School Of Business

We construct a new measure of trading regularity, capturing the extent to which investors trade on a regular basis. Institutional investors that regularly trade outperform those that trade less regularly. The performance of funds that regularly trade persists for at least a year. Among those who trade most regularly, larger funds perform relatively worse, because they incur higher transaction costs associated with their larger trades. Institutions that regularly trade generate superior performance, in part, by behaving as contrarians and by trading more aggressively on information. By contrast, we find no relation between trading regularity and performance among index funds.

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Bare Mountaintops And Thirsty Cities: On California And Its Snowpack, Sayd Randle Jan 2019

Bare Mountaintops And Thirsty Cities: On California And Its Snowpack, Sayd Randle

Research Collection College of Integrative Studies

Figuring how to represent the oncoming effects of climate change is a common challenge faced by whistleblowers and policymakers attempting to alert populations. Sayd Randle shows how the state of California is trying to mobilize the monitoring of snow in the Sierra Nevada as a harbinger of a durable state of drought in the coastal cities.

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Financial Sector In Singapore, Hwee Kwan Chow, Sai Fan Pei Jan 2019

Financial Sector In Singapore, Hwee Kwan Chow, Sai Fan Pei

Research Collection School Of Economics

This chapter reviews the financial development strategies adopted by the Singapore government as it navigates internal and external changes to build a vibrant center of finance in the Asia Pacific region. Sections 2 and 3 provide an overview of the structure of the financial system and the financial governance framework respectively. This is followed by a discussion, in Section 4, on the outward looking development strategy that underpinned the successful development of Singapore’s financial sector. Section 5 highlights the reforms undertaken in the aftermath of the Asian financial crisis that led to the building of a well-diversified and thriving international …

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Specification Tests For Temporal Heterogeneity In Spatial Panel Models With Fixed Effects, Yuhong Xu, Zhenlin Yang Jan 2019

Specification Tests For Temporal Heterogeneity In Spatial Panel Models With Fixed Effects, Yuhong Xu, Zhenlin Yang

Research Collection School Of Economics

We propose score type tests for testing the existence of temporal heterogeneity in slope and spatial parameters in spatial panel data (SPD) models, allowing for the presence of individual-specific and/or time-specific fixed effects (or in general intercept heterogeneity). The SPD model with spatial lag effect is treated in detail by first considering the model with individual-specific effects only, and then extending it to the model with both individual and time specific effects. Two types of tests (naive and robust) are proposed, and their asymptotic properties are presented. These tests are then fully extended to an SPD model with both spatial …

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Econometric Estimates Of Earth's Transient Climate Sensitivity, Peter C. B. Phillips, Thomas Leirvik, Trude Storelvmo Jan 2019

Econometric Estimates Of Earth's Transient Climate Sensitivity, Peter C. B. Phillips, Thomas Leirvik, Trude Storelvmo

Research Collection School Of Economics

How sensitive is Earth's climate to a given increase in atmospheric greenhouse gas (GHG) concentrations? This long-standing question in climate science was recently analyzed by dynamic panel data methods using extensive spatio-temporal data of global surface temperatures, solar radiation, and GHG concentrations over the last half century to 2010 (Storelvmo et al, 2016). Those methods revealed that atmospheric aerosol effects masked approximately one-third of the continental warming due to increasing GHG concentrations over this period, thereby implying greater climate sensitivity to GHGs than previously thought. The present study provides regularity conditions and asymptotic theory justifying the use of time series …

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Zine 2018: A Look At The Past Year, Smu Libraries Dec 2018

Zine 2018: A Look At The Past Year, Smu Libraries

Library Events

The file contains digitized pages from SMU Libraries’ zine-making activity. Pages are individual contributions from staff members reflecting their 2018 SMU journey.

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Building A Case For The Replacement Of A Legacy Library Management System, Nilofar Maideen Shameem Dec 2018

Building A Case For The Replacement Of A Legacy Library Management System, Nilofar Maideen Shameem

Research Collection Library

This chapter presents the feasibility study conducted at SMU Libraries as part of an overall strategy aimed at engaging key stakeholders and getting their buy-in, right from the planning stage, for the migration and implementation of a library management system. The feasibility study was conducted over a period of eight months and involved representatives from various teams within the library as well as the university’s IT department.

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Komida: Making Microfinance Digital In Indonesia, Adrian Yeow, Wee-Kiat Lim Dec 2018

Komida: Making Microfinance Digital In Indonesia, Adrian Yeow, Wee-Kiat Lim

CCX Research

This case chronicles specific background, challenges, and actions taken by an Indonesian microfinancing institution (MFI) as it was implementing a digital mobile system to replace its current manual processes used in its field office operations. From a high level perspective, it describes the challenges faced by an organization that was attempting to implement a new digital initiative but constrained by its resource-scarce, institutionally, and culturally bound environment. At the same time, it highlights that this digital initiative was a critical part of its overall plan for addressing industry demands, increasing competitive pressures, and internal process issues. The case study thus …

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