Asian Studies Commons^™

I Love Smu: Heart, Life, Passion, Soul [Advertisment], Singapore Management University

SMU Press Releases and News

Celebrating the unconventional, the intriguing, the undaunted. Experience the SMU spirit. Heart: Jenny Foo; Life: Tan Chee Wee; Life: Joven Lai; Soul: Jeremy Nguee; Passion: Richard Ho, Johny Tay.

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Does Underwriter Reputation Affect The Performance Of Ipo Stocks?, Chunchi Wu, Sheen Liu, Junbo Wang

Research Collection Lee Kong Chian School Of Business

In this paper we examine the relationship between performance of the Chinese IPO firms and the reputation of investment bankers underwriting their stocks. Similar to previous studies on well-developed stock markets, we find that the initial return on the first day of trading is strongly positive for Chinese IPO stocks due to underpricing. This initial return is negatively related to the underwriter's reputation, suggesting that the better the reputation of the underwriter, the less underpricing and hence, the lower the initial return of the IPO stock. Extending the analysis to a ten-day window after the first trading day, we find …

Acceptance Of Golden Rice In The Philippine Rice Bowl, Mark Chong

Research Collection Lee Kong Chian School Of Business

Few science issues in recent years have elicited such polarized public reactions as modern biotechnology and its agricultural applications. Although a new study conducted by the University of Illinois at Urbana-Champaign and the International Service for the Acquisition of Agri-biotech Applications (Ithaca, NY, USA) indicates that Southeast Asian stakeholders generally hold positive views about agricultural biotechnology.

Singapore's Regionalization Gambit: Insights Form The Suzhou-Wuxi Experiment, Caroline Yeoh, Jerel Chye Hock Lee, Clare Yenping Lee

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Role Of Government In Attracting And Inviting Investment From The Private Sector: Extrapolations From The Singapore Experience, Caroline Yeoh, Siang Yeung Wong, Adeline Li Feng Kwan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Creating An Environment For Enterprise: The Singapore Experience In East Asia, Caroline Yeoh, Charmaine Jialing Cai, Chee Sin Koh

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Regionalization And Transborder Industrialization: Singapore's Industrial Parks In China And Vietnam Examined, Caroline Yeoh, Aik Kee Neo, Clare Lee

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Transborder Industrialization And Singapore's 'Clones' In Indonesia, China And Vietnam: A Strategy Reconsidered, Caroline Yeoh, Chee Sin Koh, Julian Ching Wei Wee

Research Collection Lee Kong Chian School Of Business

The idea of exporting Singapore’s expertise in infrastructure development took hold, in the early 1990s, as part of a larger regionalization strategy. Singapore’s positive reputation with multinational corporations for the efficiency of its industrial infrastructure and its stable, corrupt-free investment environment underscored this strategy. Led by Singapore’s government-linked companies, industrial parks were established in several Asian countries. Their progress is a test of Singapore’s ability to export its efficiency in industrial park development and management outside its borders. This paper finds that the initial optimism with which the flagship projects were unveiled has not been justified.

Spread, Depth, And Order Flow Patterns Of Warrants And Their Underlying Stocks On The Stock Exchange Of Thailand, Charlie Charoenwong, Nuttawat Visaltanachoti, David K. Ding

Research Collection Lee Kong Chian School Of Business

This study compared the trading characteristics of warrants and their underlying stocks. The Stock Exchange of Thailand provided a good platform for comparing the trading characteristics of warrants and their underlying stocks because both these securities are traded in the same market venue and have identical trading rules. Hence, the impact of trading protocol on intraday variation and an informed trader's decision to buy warrants or stocks was controlled. The paper found that they have a similar downward sloping pattern of spreads, adverse selection component, and liquidity immediacy, U-shaped for volatility and trading volume, and upward-sloping for depth and market …

Creating Competitive Advantage In The Global Marketplace: The Singapore Experiment In East Asia, Caroline Yeoh, Julian Ching Wei Wee, James Chan

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Transborder Industrialization And Singapore's Regionalization Strategy: Singapore's Industrial Parks In Indonesia And China - Boom, Bane Or An Ongoing Game?, Caroline Yeoh, Charmaine Jialing Cai, Julian Ching Wei Wee

Research Collection Lee Kong Chian School Of Business

Singapore’s regionalization program is centred on a number of industrial township developments in China, India and several Southeast Asian countries. These townships are led by Singapore government-linked companies and are premised on the perception that Singapore’s positive reputation with multinational corporations, for efficient industrial infrastructure and stable, corrupt-free administration, will give the townships a marketing advantage. Their progress is a litmus test of Singapore’s ability to export its efficiency in industrial park development and management outside its borders. This paper discusses the origins and progress of the four largest and most advanced townships, two in Indonesia and two in China. …

Asian Hedge Funds: Return Persistence, Style, And Fund Characteristics, Francis Koh, Winston T. H. Koh, Melvyn Teo

Research Collection Lee Kong Chian School Of Business

This study explores the return persistence properties, styles, and fund characteristics of hedge funds that mainly invest in Asia. We examine, for the first time, a high resolution hedge fund dataset which includes monthly return information as well as detailed fund characteristics data. We find that the returns of Asian hedge funds persist most strongly at monthly horizons to quarterly horizons. This persistence weakens considerably when we lengthen the measurement period beyond a quarter, and does not appear to be due to the imputation of fees or to systematic risk as measured by a simple factor model. Further, we show …

Smu: We Are Different [Advertisement], Singapore Management University

SMU Press Releases and News

Cowan is different. He's chosen to study at SMU. Wah Yeow knows the difference. He sees SMU students in action. Steve knows the difference. He heads SMU's School of Information Systems. Su Phin is different. She's an SMU student.

SMU advertisment, featuring Cowan Phan, jumping student, Tan Wah Yeow (KPMG), Steven Miller, Teo Su Phin, jumping student.

Smu: We Mean Business: We Are Different, Singapore Management University

SMU Press Releases and News

We believe it takes a different type of person to excel in the new economy. Which is why SMU is a different kind of university. One with a progressive curriculum, unique teaching methods and a world-class faculty.

SMU advertisments, Ng Peng Fong, Marina Rumi Ibrahim, Elsie Lin, featured students doing hand stand, jumping and back bend.

Feminist Tigers And Patriarchal Lions: Rhetorical Strategies And Instrument Effects In The Struggle For Definition And Control Over Development In Nepal, Coralynn V. Davis

Faculty Journal Articles

This article offers an analysis of a struggle for control of a women’s development project in Nepal. The story of this struggle is worth telling, for it is rife with the gender politics and neo-colonial context that underscore much of what goes on in contemporary Nepal. In particular, my analysis helps to unravel some of the powerful discourses, threads of interest, and yet unintended effects inevitable under a regime of development aid. The analysis demonstrates that the employment of already available discursive figures of the imperialist feminist and the patriarchal third world man are central to the rhetorical strategies taken …

The Culture Of Technology Of Singapore, Alwyn Lim

Research Collection School of Social Sciences

The objective of this paper is to map the sociological context in which the cultural economy of technology of Singapore exists. Taking a socio-histori cal perspective, this paper argues that the development of Singapore as a technological 'intelligent island' must take centre stage in relation to the soci ological analysis of modern Singapore's political, economic, and socio-cultural structure. This involves a critique of theories of the information society and empirical research on East Asian developmental states. The aim is to chart the development of technology in Singapore, from its founding as a colonial port-city to its current status as an …

Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh

Research Collection School Of Economics

This paper provides an overview of the venture capital industry, and its development in Asia and Singapore. Venture capital plays an important role in innovation and economic growth. Indeed, the resurgence of the United States as a technology leader is intimately linked to the success of Silicon Valley. As Singapore enters the next phase of economic development, the creation of internal engines of growth is an urgent task. The Singapore government has done much to provide an environment for entrepreneurship to thrive. Its success at replicating the Silicon Valley culture will be important for Singapore’s future economic success.

Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh

Research Collection Lee Kong Chian School Of Business

This paper provides an overview of the venture capital industry, and its development in Asia and Singapore. Venture capital plays an important role in innovation and economic growth. Indeed, the resurgence of the United States as a technology leader is intimately linked to the success of Silicon Valley. As Singapore enters the next phase of economic development, the creation of internal engines of growth is an urgent task. The Singapore government has done much to provide an environment for entrepreneurship to thrive. Its success at replicating the Silicon Valley culture will be important for Singapore's future economic success.

Social Entrepreneurship In Singapore, Wee Liang Tan, Teck Meng Tan

Research Collection Lee Kong Chian School Of Business

Social entrepreneurship is a new phenomenon in Singapore. Unlike the US, where there are entrepreneurship programs offered at various ACCSB accredited universities such programs do not as yet exist in Asia. The motivations for social entrepreneurship in Asia differ from those in developed countries. While as social entrepreneurship often stem from the social agenda of successful entrepreneurs who are motivated to repay society, the recent trend of social entrepreneurship in Asia may stem from initiatives directed at political liberalisation and the development of civil society on the part of existing governments. The Singapore government in 1997 introduced a series of …

Making Justice Sense Of Local-Expatriate Compensation Disparity: Mitigation By Local Referents, Ideological Explanations, And Interpersonal Sensitivity In China-Foreign Joint Ventures, Chao C. Chen, Jaepil Choi, Chu-Cheng Chi

Research Collection Lee Kong Chian School Of Business

We examined how local employees of international joint ventures (IJVs) perceived disparity between their compensation and foreign expatriates' compensation from equity theory and social justice perspectives. Chinese locals perceived less fairness when comparing their compensation with expatriates' than when comparing it with other locals'. However, fairness vis-a-vis expatriates increased if the locals were compensated higher than their peers in other IJVs or endorsed ideological explanations for expatriates' advantage. Furthermore, expatriates' interpersonal sensitivity toward locals reduced the effect of disparity on perceived fairness. Finally, perceived compensation fairness was related positively to compensation satisfaction but negatively to intentions to quit.

The Impact Of Housing Prices On Aggregate Consumption: Evidence From An East Asian City-State, Sock-Yong Phang

Research Collection School Of Economics

Using aggregate consumption data for Singapore, this paper rejects the life-cycle/permanent income and myopia hypotheses as explanations for aggregate consumption behavior. We confirm the presence of liquidity constraints from the asymmetric reaction of consumption to income increases vis-a-vis income declines. When we allow for asymmetric response, anticipated house price increases appear to have a dampening effect on aggregate consumption while declines in expected house price growth also had a negative effect on consumption, although the results are statistically insignificant. There is no evidence that the housing price increases have produced either wealth or collateral enhancement effects on consumption.

An Innovative Public-Private Partnership: New Approach To Development, Ramina Samii, Luk N. Van Wassenhove, Shantanu Bhattacharya

Research Collection Lee Kong Chian School Of Business

This paper is focused on the development of new services by nonprofit organizations for groups of companies within a particular sector in industry. It is based oil a case study of ail actual implementation by United Nations Industrial Development Organization (UNIDO) in collaboration with a number of other organizations to upgrade the capabilities of automotive component suppliers in India, to enable them to supply to world-class Manufacturers. We draw upon the traditional literature available on new product and service development for firms introducing new products and services for maximizing profit, and contrast those approaches with the approach adopted by nonprofit …

Small And Medium Enterprises In Singapore And The New Economy, Boon Chye Lee, Wee Liang Tan

Research Collection Lee Kong Chian School Of Business

From its earliest days as a British outpost, Singapore has relied heavily for its economic survival on its position as an entrepot trading centre. In the first decades after independence in 1965, economic strategy was focused on building infrastructure, attracting foreign direct investment, and export-led growth. The political commitment to openness in both trade and capital — and, more recently, labour — is one of the key features of a strategy that has delivered remarkable returns in terms of the economic well-being of the people of Singapore. Between 1961 and 1996 GDP per capita grew at an average rate of …

Das Wirtschaftsimperium Der Ethnisch Chinesischen Unternehmer In Südostasien Zwischen Kontinuität Und Wandel (In German), Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

Der Beitrag beschäftigt sich mit den wenig erforschten, komplexen Wechselwirkungen zwischen der rapide voranschreitenden globalen Marktvergesellschaftung einerseits sowie den Marktkulturen in Südostasien, in denen ethnischchinesische Unternehmer, Geschäftsleute und Händler mit ihren Familienkonglomeraten und Handelsnetzwerken eine prominente Rolle spielen. Ausgehend von der Asienkrise 1997-99, die eine deutliche Zäsur für ethnisch-chinesisches Wirtschaftshandeln in der Region darstellt, werden die Auswirkungen der rapiden Wandlungsprozesse auf das ethnisch-chinesische Unternehmertum in der Region und deren sozio-ökonomische Beziehungsnetzwerke skizziert sowie unternehmerische Anpassungsstrategien aufgezeigt. Der Beitrag schliesst mit einer kurzen Prognose über die Zukunft des chinesischen Kapitalismus in Asien.

Change Leadership In Organizations: The Case Of Singapore's Small And Medium-Sized Enterprises, Thomas Menkhoff, Yue Wah Chay, Benjamin Loh

Research Collection Lee Kong Chian School Of Business

The essay is based on a survey of organizational change management practices in small and medium-sized enterprises (SMEs) in Singapore which was conducted by the authors between 1999 - 2001 in collaboration with the Singapore Chinese Chamber of Commerce & Industry (SCCCI). The study was aimed at examining the adaptability and change readiness of Singapore’s SMEs and their owners vis-à-vis the rapidly changing external business environment, as exemplified by the process of economic globalization, intense competition, technology development and the Asian crisis. A total of 101 companies responded to the survey which revealed some surprising facts about the adaptability and …

The Role Of Rhetoric Content In Charismatic Leadership: A Content Analysis Of A Singaporean Leader's Speeches, Hwee Hoon Tan, Gladys Wee

Research Collection Lee Kong Chian School Of Business

This study provides an extension to the Charismatic Leadership theories by delineating the roles of rhetoric content: in frame alignment and trust building. Propositions were developed from past literature on the rhetorical behaviors of Charismatic Leadership and the interpersonal trust literature. An empirical study was then conducted to test the propositions developed and it was found that Mr. Lee Kuan Yew use the Singapore National Day Rally speeches in limited ways to align frames and build trust.

Scripted Thought: Processing Korean Hancha And Hangul In A Multimedia Context, Nader T. Tavassoli, Jin K. Han

Research Collection Lee Kong Chian School Of Business

We compare the cognitive processing of words written in alphabetic scripts with the cognitive processing of words written in logographic scripts. We suggest that the processing of words written in alphabetic scripts relies more heavily on the storage of--and the serial rehearsal properties of--short-term memory's phonological loop. In contrast, the processing of words written in logographic scripts relies more on the storage of--and the spatial-relational rehearsal properties of--visual short-term memory. A series of three experiments investigates implications of these processing differences within a single language, Korean, where words can be written in the alphabetic Hangul or in the logographic Han-cha. …

Consumer Decision Making In A Multi-Generational Choice Set Context, Namwoon Kim, Rajendra K. Srivastava, Jin K. Han

Research Collection Lee Kong Chian School Of Business

Most new product adoption models have focused on single-generation products. Only recently have researchers begun to focus on the importance of analyzing consumers' purchase demands in multi-generation products. This paper proposes a model that incorporates both initial and repeat purchases and allows for leap-frogging behavior for multi-generation technological products. Whereas most new product adoption models are based on aggregate market sales, the proposed model is estimated and validated on individual consumer data. Within a logistical modeling framework, the model combines a purchase incidence (buy/not buy) component and generation choice components for each time period. These model components allow for individual …

Housing Policy, Wealth Formation And The Singapore Economy, Sock-Yong Phang

Research Collection School Of Economics

This paper evaluates the contribution of housing policy in Singapore to financial sector development, housing wealth formation and macro-economic performance, both retrospectively and prospectively. It provides an overview of past housing policies and traces the linkages to the financial sector. Housing policy as effected through the Housing and Development Board and the Central Provident Fund (CPF) hampered the development of the commercial housing loans sector and domestic financial markets, but contributed to the overall growth and stability of the housing loans market and associated financial institutions. Housing policy and the trend of housing asset inflation contributed significantly to the formation …

Coping With Growth Transitions: The Case Of Chinese Family Businesses In Singapore, Wee-Liang Tan, Siew Tong Fock

Research Collection Lee Kong Chian School Of Business

Families control more than half of the corporations in East Asia. The contribution of family businesses to Asia's economic growth is predicated upon successfully growing their businesses. Many family businesses in East Asia, spanning countries such as Taiwan, Hong Kong, Indonesia, Singapore, and Malaysia, are Chinese owned and managed. Some claim that these businesses will never develop into full-fledged multinational enterprises because of their cultural heritage (Redding, 1990). However, some Chinese family businesses have successfully made the transition.This paper presents an in-depth study of five Chinese family businesses in Singapore that have successfully made the transition in growth and size …