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Articles 6091 - 6120 of 9289

Full-Text Articles in Social and Behavioral Sciences

A Combined Approach To The Inference Of Conditional Factor Models, Yan Li, Liangjun Su, Yuewu Xu Aug 2014

A Combined Approach To The Inference Of Conditional Factor Models, Yan Li, Liangjun Su, Yuewu Xu

Research Collection School Of Economics

This paper develops a new methodology for estimating and testing conditional factor models in finance. We propose a two-stage procedure that naturally unifies the two existing approaches in the finance literature -- the parametric approach and the nonparametric approach. Our combined approach possesses important advantages over both methods. Using our two-stage combined estimator, we derive new test statistics for investigating key hypotheses in the context of conditional factor models. Our tests can be performed on a single asset or jointly across multiple assets. We further propose a novel test to directly check whether the parametric model used in our first …

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Shrinkage Estimation Of Regression Models With Multiple Structural Changes, Junhui Qian, Liangjun Su Aug 2014

Shrinkage Estimation Of Regression Models With Multiple Structural Changes, Junhui Qian, Liangjun Su

Research Collection School Of Economics

In this paper we consider the problem of determining the number of structural changes in multiple linear regression models via group fused Lasso (least absolute shrinkage and selection operator). We show that with probability tending to one our method can correctly determine the unknown number of breaks and the estimated break dates are sufficiently close to the true break dates. We obtain estimates of the regression coefficients via post Lasso and establish the asymptotic distributions of the estimates of both break ratios and regression coefficients. We also propose and validate a data-driven method to determine the tuning parameter. Monte Carlo …

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The People Want The Fall Of The Regime: Schooling, Political Protest, And The Economy, Filipe R. Campante, Davin Chor Aug 2014

The People Want The Fall Of The Regime: Schooling, Political Protest, And The Economy, Filipe R. Campante, Davin Chor

Research Collection School Of Economics

We provide evidence that economic circumstances are a key intermediating variable for understanding the relationship between schooling and political protest. Using the World Values Survey, we find that individuals with higher levels of schooling, but whose income outcomes fall short of that predicted by their biographical characteristics, in turn display a greater propensity to engage in protest activities. We discuss a number of interpretations that are consistent with this finding, including the idea that economic conditions can affect how individuals trade off the use of their human capital between production and political activities. Our results could also reflect a link …

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Generating Supplementary Travel Guides From Social Media, Liu Yang, Jing Jiang, Lifu Huang, Minghui Qiu, Lizi Liao Aug 2014

Generating Supplementary Travel Guides From Social Media, Liu Yang, Jing Jiang, Lifu Huang, Minghui Qiu, Lizi Liao

Research Collection School Of Computing and Information Systems

In this paper we study how to summarize travel-related information in forum threads to generate supplementary travel guides. Such summaries presumably can provide additional and more up-to-date information to tourists. Existing multi-document summarization methods have limitations for this task because (1) they do not generate structured summaries but travel guides usually follow a certain template, and (2) they do not put emphasis on named entities but travel guides often recommend points of interest to travelers. To overcome these limitations, we propose to use a latent variable model to align forum threads with the section structure of well-written travel guides. The …

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Restitution Of Mistaken Enrichment Under Section 73 Of Malaysia's Contracts Act 1950: Pouring New Wine Into An Old Bottle?, Alvin W. L. See Jul 2014

Restitution Of Mistaken Enrichment Under Section 73 Of Malaysia's Contracts Act 1950: Pouring New Wine Into An Old Bottle?, Alvin W. L. See

Research Collection Yong Pung How School Of Law

This article makes two main suggestions regarding the interpretation of s 73 of Malaysia's Contracts Act 1950, which sets out the right to recover a mistaken enrichment. The first suggestion is that the courts should have regard to the historical background against which the section was enacted, especially because the pre-enactment common law was a historical curiosity. This will dispel certain misconceptions about the nature of the statutory right by shedding light on its supposed affinity with contract and its relationship with the obsolete forms of action and the principle of unjust enrichment. The second suggestion is that the content …

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Governance Matter: Morningstar Stewardship Grades And Mutual Fund Performance, Xiaping Jerry Cao, Aurobindo Ghosh, Choo Yong, Jeremy Goh, Wee Seng Ng Jul 2014

Governance Matter: Morningstar Stewardship Grades And Mutual Fund Performance, Xiaping Jerry Cao, Aurobindo Ghosh, Choo Yong, Jeremy Goh, Wee Seng Ng

Research Collection School Of Economics

Mutual fund investors have the arduous task of disentangling luck from ability of mutual fund managers’ performance. In this paper we investigate the role of mutual fund corporate governance (measured by Morningstar Stewardship grade) in mutual fund performance. We propose an objective data-driven corporate governance score based on principal components of Morningstar Stewardship Grades. Furthermore, we establish corporate governance scores have Granger Causality on long-term risk-adjusted returns. The findings suggest that corporate governance grades of mutual funds carry information content beyond the usual star rating measures for predicting long-term mutual fund performance and provide an effective tool for selecting funds.

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Dynamic Pricing In The Singapore Condominium Market, Eric Fesselmeyer, Haoming Liu Jul 2014

Dynamic Pricing In The Singapore Condominium Market, Eric Fesselmeyer, Haoming Liu

Research Collection College of Integrative Studies

Dynamic pricing strategies are likely an important consideration of Singapore condominium developers because of the durability of condominiums, price transparency, and the long sales period. While we do not observe any systematic relationship between the new sale prices and time of purchase, we do find that quality-adjusted price increases and the quality of units purchased decreases over the new sale period. These results suggest that condominium developers allow early buyers to purchase high quality units at discounted prices but do not extend the price discount to later buyers of low quality units. (C) 2014 Elsevier B.V. All rights reserved.

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The Pains Of Economic Reforms In China And Japan, Singapore Management University Jul 2014

The Pains Of Economic Reforms In China And Japan, Singapore Management University

Perspectives@SMU

Asia’s two biggest economies face up to their most difficult challenges

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The Motivation To Comply With Internal Or External Moral Expectations: Is Just One Motivation Enough?, Huey Woon Lee Jul 2014

The Motivation To Comply With Internal Or External Moral Expectations: Is Just One Motivation Enough?, Huey Woon Lee

Dissertations and Theses Collection (Open Access)

Although researchers have shown how the need to reduce internal discrepancies between one’s current level of morality and one’s moral standard and the need to reduce negative social judgment drive pro-social behaviors, it remains unclear if the presence of both these motivations has additive effects on pro-social behaviors. I propose that the answer is no: people operate on a sufficient motivation principle when deciding to behave prosocially, that is, they should be equally prosocial whether one or both motivations are present. I further argue that individual differences in public (PUSC) and private (PRSC) self-consciousness affect people’s attention to the two …

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Conservatism And Equity Ownership Of The Founding Family, Shuping Chen, Xia Chen, Qiang Cheng Jul 2014

Conservatism And Equity Ownership Of The Founding Family, Shuping Chen, Xia Chen, Qiang Cheng

Research Collection School Of Accountancy

We investigate the impact of founding family ownership on accounting conservatism. Family ownership is characterised by large, under-diversified equity stake and long investment horizon. These features give family owners both the incentives and the ability to implement conservative financial reporting to reduce legal liability and mitigate agency conflicts with other stakeholders. Since CEOs can have different incentives towards conservatism, we focus on ownership of non-CEO founding family members in our investigation. We find that conservatism increases with non-CEO family ownership, supporting our prediction. This relationship becomes insignificant in family firms with founders serving as CEOs, either due to founder CEOs' …

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Influences Of Influential Users: An Empirical Study Of Music Social Network, Jing Ren, Zhiyong Cheng, Jialie Shen, Feida Zhu Jul 2014

Influences Of Influential Users: An Empirical Study Of Music Social Network, Jing Ren, Zhiyong Cheng, Jialie Shen, Feida Zhu

Research Collection School Of Computing and Information Systems

Influential user can play a crucial role in online social networks. This paper documents an empirical study aiming at exploring the effects of influential users in the context of music social network. To achieve this goal, music diffusion graph is developed to model how information propagates over network. We also propose a heuristic method to measure users' influences. Using the real data from Last. fm, our empirical test demonstrates key effects of influential users and reveals limitations of existing influence identification/characterization schemes.

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Predicting The Popularity Of Web 2.0 Items Based On User Comments, Xiangnan He, Ming Gao, Min-Yen Kan, Yiqun Liu, Kazunari Sugiyama Jul 2014

Predicting The Popularity Of Web 2.0 Items Based On User Comments, Xiangnan He, Ming Gao, Min-Yen Kan, Yiqun Liu, Kazunari Sugiyama

Research Collection School Of Computing and Information Systems

In the current Web 2.0 era, the popularity of Web resources fluctuates ephemerally, based on trends and social interest. As a result, content-based relevance signals are insufficient to meet users' constantly evolving information needs in searching for Web 2.0 items. Incorporating future popularity into ranking is one way to counter this. However, predicting popularity as a third party (as in the case of general search engines) is difficult in practice, due to their limited access to item view histories. To enable popularity prediction externally without excessive crawling, we propose an alternative solution by leveraging user comments, which are more accessible …

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On Predicting Religion Labels In Microblogging Networks, Minh Thap Nguyen, Ee Peng Lim Jul 2014

On Predicting Religion Labels In Microblogging Networks, Minh Thap Nguyen, Ee Peng Lim

Research Collection School Of Computing and Information Systems

Religious belief plays an important role in how people behave, influencing how they form preferences, interpret events around them, and develop relationships with others. Traditionally, the religion labels of user population are obtained by conducting a large scale census study. Such an approach is both high cost and time consuming. In this paper, we study the problem of predicting users' religion labels using their microblogging data. We formulate religion label prediction as a classification task, and identify content, structure and aggregate features considering their self and social variants for representing a user. We introduce the notion of representative user to …

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A Holistic Intervention Program For Children From Low Socioeconomic Status Families, Jonathan S. E. Tang, Hwajin Yang, Sujin Yang Jul 2014

A Holistic Intervention Program For Children From Low Socioeconomic Status Families, Jonathan S. E. Tang, Hwajin Yang, Sujin Yang

Research Collection School of Social Sciences

There is considerable evidence that children from families with low socioeconomic status (SES) are at risk of profound delays in cognitive development and educational achievement. Scholars and policy makers have therefore sought to identify the potential causes of these problems and to design interventions to narrow this achievement gap. With this goal, Neville et al. (2013) developed a family-based intervention (PCMC-A) to improve neurocognitive functions supporting selective attention in low-SES preschoolers. Involving both parents and children in the training, they demonstrated that the PCMC-A significantly improved nonverbal IQ, receptive language, neurocognitive functions supporting early attentional processing, parent-reported social skills, and …

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International Transmission Of Interest Rates And The Open Economy Trilemma In Asia, Hwee Kwan Chow Jul 2014

International Transmission Of Interest Rates And The Open Economy Trilemma In Asia, Hwee Kwan Chow

Research Collection School Of Economics

There has recently been much discussion on the relevance of the open economy trilemma in the context of deepening financial integration of countries across the world (see for instance, Rey (2013) and Devereux and Yetman (2014)). The open economy trilemma is an important issue for the countries in Asia not least because their financial systems are small and exchange rate stability is crucial to their economic growth. This paper investigates whether the economies in Asia are still bound by the "impossible trinity" by examining the interest rate transmission from the US to the region before and after the onset of …

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Bayesian Analysis Of Bubbles In Asset Prices, Andras Fulop, Jun Yu Jul 2014

Bayesian Analysis Of Bubbles In Asset Prices, Andras Fulop, Jun Yu

Research Collection School Of Economics

We develop a new asset price model where the dynamic structure of the asset price, after the fundamental value is removed, is subject to two different regimes. One regime reflects the normal period where the asset price divided by the dividend is assumed to follow a mean-reverting process around a stochastic long run mean. This latter is allowed to account for possible smooth structural change. The second regime reflects the bubble period with explosive behavior. Stochastic switches between two regimes and non-constant probabilities of exit from the bubble regime are both allowed. A Bayesian learning approach is employed to jointly …

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Unpacking East-West Differences In The Extent Of Self-Enhancement From The Perspective Of Face Versus Dignity Cultures, Hae In Lee, Angela K. Y. Leung, Young-Hoon Kim Jul 2014

Unpacking East-West Differences In The Extent Of Self-Enhancement From The Perspective Of Face Versus Dignity Cultures, Hae In Lee, Angela K. Y. Leung, Young-Hoon Kim

Research Collection School of Social Sciences

The question of whether or not the need for self-enhancement is culturally universal has been a controversial issue in cultural psychology. Though there have been numerous studies arguing that East Asians also have the need for self-enhancement, the controversy remained. We contend that the field is ready to see a cohesive theory that integrates and explains when and why East Asians do and do not manifest their need for self-enhancement. In this paper, we provide the theoretical logics of and rationales behind face and dignity cultures as the new theoretical proxies that integrate and explain East Asians' self-enhancing behaviors, supplementing …

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Relevance Of The Regulatory State In North/South Intersections, Mark Findlay, Si Wei Lim Jul 2014

Relevance Of The Regulatory State In North/South Intersections, Mark Findlay, Si Wei Lim

Research Collection Yong Pung How School Of Law

Purpose – What seems like a new social anthropology of global regulation is an endeavour much too grand for this paper, even though it has much merit. To contain the analysis which follows, the discussion of social embeddedness will be restricted to a comparison of markets which retain some local or regional integrity from those which have become largely removed from cultural or communal social bonds. An example is between markets trading in goods and services with a consumer base which is local and subsistence, and markets in derivative products that are inextricably dependent on supranational location. The paper aims …

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Should Singapore Adopt 'Say On Pay'?, Clarence Goh Jul 2014

Should Singapore Adopt 'Say On Pay'?, Clarence Goh

Research Collection School Of Accountancy

SoP may require disclosures that could harm a firm's competitive interests.

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Should Singapore Adopt 'Say On Pay'?, Clarence Goh Jul 2014

Should Singapore Adopt 'Say On Pay'?, Clarence Goh

Research Collection School Of Accountancy

SoP may require disclosures that could harm a firm's competitive interests.

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Singapore's New Discretionary Death Penalty For Drug Couriers: Public Prosecutor V Chum Tat Suan, Siyuan Chen Jul 2014

Singapore's New Discretionary Death Penalty For Drug Couriers: Public Prosecutor V Chum Tat Suan, Siyuan Chen

Research Collection Yong Pung How School Of Law

The article offers information on the history, evolution and significance of the new discretionary death penalty legislation for drug couriers in Singapore under the application of the Misuse of Drugs Act (MDA). It discusses the judicial decision of the Singaporean High Court in the case of Public Prosecutor v. Chum Tat Suan in which the Court convicted the accused with chareges of importing of more than 94.96g of diamorphine into Singapore that was punishable under section 33 of the MDA.

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Recognising Lost Chances In Tort Law, Jeremy Shi Wei Liang, Kee Yang Low Jul 2014

Recognising Lost Chances In Tort Law, Jeremy Shi Wei Liang, Kee Yang Low

Research Collection Yong Pung How School Of Law

This paper proposes the way forward in dealing with the unsatisfactory case law involving loss of chance in negligence, particularly medical negligence. It seeks to show that the current approach in England and in Singapore of applying traditional causation rules is arbitrary and inadequate, and fails to meet a deserving loss of chance claim. The authors seek to examine whether loss of chance is better understood as a theory of injury instead of a theory of causation. Inspecting major common law jurisdictions and the key controversies in reconciling the case law, it will be advanced that the best method (in …

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Public Health Regulation: Convergence, Divergence, And Regulatory Tension: An Asian Perspective, Locknie Hsu Jul 2014

Public Health Regulation: Convergence, Divergence, And Regulatory Tension: An Asian Perspective, Locknie Hsu

Research Collection Yong Pung How School Of Law

Regulatory issues relating to public health, including regulation of access to medicines and tobacco control have increasingly been the source of tension in recent trade and investment negotiations, treaties and disputes. The ongoing Trans-Pacific Partnership negotiations, which include a number of developing Asian states, are an example that brings some of these issues to the fore and show a divergence of negotiating views.

The intersection between public health regulation and trade and investment treaties has given some Asian states significant pause for thought; it has further led the international system to a critical need to confront the overlap of legal …

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Singapore's Financial Market: Challenges And Future Prospects, David K. C. Lee, Kok Fai Phoon Jul 2014

Singapore's Financial Market: Challenges And Future Prospects, David K. C. Lee, Kok Fai Phoon

Research Collection Lee Kong Chian School Of Business

Singapore has successfully developed into one of the leading international financial centers in a short span of less than half a century. The factors of success can be attributed to time, space, and people. Given the complexity and connectivity of today’s markets, there are many challenges in a fast changing environment marked by huge global capital flows and punctuated by crisis after crisis. This chapter will explain the success of Singapore’s financial market and provide the author’s outlook for the island state’s future prospects in the aftermath of the US debt crisis, the Euro crisis, and likely slowdown in emerging …

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Impact Of Social Media On Power Relations Of Korean Health Activism, Kyu Jin Shim Jul 2014

Impact Of Social Media On Power Relations Of Korean Health Activism, Kyu Jin Shim

Research Collection Lee Kong Chian School Of Business

This case study explores how the Korea Leukemia Patient Group (KLPG) uses social media in its internal communication strategy and how that empowers its relationship with external counterparts. The findings of this study indicate that the local health NGO’s communication strategy is changing in response to the increased effectiveness and impact of social media. With the use of social media like Twitter, the KLPG can construct an issue-based advocacy group quickly and effectively. Consequently, more legitimacy and representativeness through collected support from general publics has further empowered the KLPG. Yet, the sustainability component in the relationships built through social media …

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The Image Of Psychology Programs: The Value Of The Instrumental-Symbolic Framework, Greet Van Hoye, Filip Lievens, Britt De Soete, Nele Libbrecht, Eveline Schollaert, Dimphna Baligant Jul 2014

The Image Of Psychology Programs: The Value Of The Instrumental-Symbolic Framework, Greet Van Hoye, Filip Lievens, Britt De Soete, Nele Libbrecht, Eveline Schollaert, Dimphna Baligant

Research Collection Lee Kong Chian School Of Business

As competition for funding and students intensifies, it becomes increasingly important for psychology programs to have an image that is attractive and makes them stand out from other programs. The current study uses the instrumental-symbolic framework from the marketing domain to determine the image of different master's programs in psychology and examines how these image dimensions relate to student attraction and competitor differentiation. The samples consist of both potential students (N = 114) and current students (N = 68) of three psychology programs at a Belgian university: industrial and organizational psychology, clinical psychology, and experimental psychology. The results demonstrate that …

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Trade And Financial Integration, Extensive Margin, And Income Divergence, Haiping Zhang Jul 2014

Trade And Financial Integration, Extensive Margin, And Income Divergence, Haiping Zhang

Research Collection School Of Economics

We revisit the classical question on economic integration and income convergence in a two-sector OLG model with financial frictions and sectoral heterogeneity in minimum investment requirements (MIR, hereafter). The extensive margin of investment is a critical channel through which aggregate income may become a determinant of comparative advantage. Free trade allows the rich (poor) country to specialize partially or completely in the high-MIR (low-MIR) sector which has a high (low) return endogenously. The specialization effect interacts with the neoclassical effect, which may lead to income divergence among inherently identical countries. Similarly, financial integration may also lead to income divergence through …

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Marriage And Child Bearing, Kong Weng Ho Jul 2014

Marriage And Child Bearing, Kong Weng Ho

Research Collection School Of Economics

This chapter considers the impact of existing incentives and policies to encourage marriage and child-birth, and other direct and indirect ways to raise the total fertility rate (TFR).

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Why Cpf-Style Systems Generally Work Better, Hian Teck Hoon Jul 2014

Why Cpf-Style Systems Generally Work Better, Hian Teck Hoon

Research Collection School Of Economics

The Central Provident Fund (CPF) has been in existence since 1955, and plays an important role in the lives of millions of Singaporeans. But this does not mean there is nothing to be learnt from asking some fundamental questions about its usefulness.

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How Effective Can Ex Post Destruction Alleviate The Hold-Up Problem?, Huan Wang, Juyuan Zhang, Yi Zhang Jul 2014

How Effective Can Ex Post Destruction Alleviate The Hold-Up Problem?, Huan Wang, Juyuan Zhang, Yi Zhang

Research Collection School Of Economics

We first investigate whether or not ex post destruction can possibly alleviate the hold-up problem in a one-shot game between a supplier and a buyer. The answer is yes but only when the buyer believes that the supplier might be a Homo reciprocans agent with sufficiently strong propensity for reciprocity. Under incomplete information with informed supplier, investment is made feasible by the “mismatch” between the buyer’s belief of stronger supplier reciprocal propensity and a de facto weaker one. Under incomplete information with uninformed supplier, the “mismatch” between the buyer’s belief of weaker supplier reciprocal propensity and a stronger ex post …

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