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Social and Behavioral Sciences Commons

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2009

Singapore Management University

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Articles 1 - 30 of 176

Full-Text Articles in Social and Behavioral Sciences

Culture, Psyche, And Body Make Each Other Up, Dov Cohen, Angela K. Y. Leung, Hans Ijzerman Dec 2009

Culture, Psyche, And Body Make Each Other Up, Dov Cohen, Angela K. Y. Leung, Hans Ijzerman

Research Collection School of Social Sciences

The commentaries make important points, including ones about the purposeful uses of embodiment effects. Research examining such effects needs to look at how such effects play themselves out in people's everyday lives. Research might usefully integrate work on embodiment with work on attribution and work in other disciplines concerned with body–psyche connections (e.g., research on somaticizing versus “psychologizing” illnesses and hypercognizing versus hypocognizing emotions). Such work may help us understand the way positive and negative feedback loops operate as culture, psyche, and body make each other up.


How Valued-Added Is Your Library Instruction? Research Librarians Work With Faculty To Conduct In-Class Training, Charlotte Gill, Rajendra Munoo, Priyanka Sharma Dec 2009

How Valued-Added Is Your Library Instruction? Research Librarians Work With Faculty To Conduct In-Class Training, Charlotte Gill, Rajendra Munoo, Priyanka Sharma

Research Collection Library

This training ws developed as a helpful follow-up for the future business decision-makers to be introduced to the process of thinking through the legal implications of business services and products, with a view to giving cogent instructions to legal counsel.


China’S Strategy For Free Trade Agreements: Political Battle In The Name Of Trade, Shuchao Henry Gao Dec 2009

China’S Strategy For Free Trade Agreements: Political Battle In The Name Of Trade, Shuchao Henry Gao

Research Collection School Of Law

Compared with Europe and America, East Asia is a latecomer in the new gold-rush of Free Trade Agreements (FTAs). In this process, China has played a significant role. This is not only due to the growing economic clout of China, but also because China has taken a conscious strategy to push for economic integration in the region. Thus, for the benefits of the countries in the region, it is very important to understand China’s FTA strategy. This article starts with the evolving picture of China’s FTA web, then discusses the key components of China’s FTA strategy, and ...


Well-Being On Planet Earth, Ed Diener, William Tov Dec 2009

Well-Being On Planet Earth, Ed Diener, William Tov

Research Collection School of Social Sciences

The Gallup World Poll allows a look at how humanity is flourishing, based on the answers of survey respondents sampled from across the globe. Several conclusions are clear. First, how people are doing depends enormously on the society in which they live, and nations vary from doing very well to extremely poorly. In terms of subjective well-being, nations vary greatly, in both judgments of overall life and in positive and negative emotions. The best predictors of global life judgments were income and ownership of modern conveniences, whereas the best predictors of emotions were social factors such as the control of ...


Dialogic Cosmopolitanism And Global Justice, Eduard Jordaan Dec 2009

Dialogic Cosmopolitanism And Global Justice, Eduard Jordaan

Research Collection School of Social Sciences

Although the term “cosmopolitan-communitarian debate” never really caught on, a national-global fault line remains prominent in debates about global justice. “Dialogic cosmopolitanism” holds the promise of bridging this alleged fault line by accepting many of the communitarian criticisms against cosmopolitanism and following what can be described as a communitarian path to cosmopolitanism. This article identifies and describes four key elements that distinguish dialogic cosmopolitanism: a respect for difference; a commitment to genuine dialogue; an open, hesitant and self-problematising attitude on the part of the moral subject; and an undertaking to expand the boundaries of moral concern to the point of ...


Poetry And The Politics Of History: Revisiting Ee Tiang Hong, Kirpal Singh Dec 2009

Poetry And The Politics Of History: Revisiting Ee Tiang Hong, Kirpal Singh

Research Collection School of Social Sciences

The Malaysian poet Ee Tiang Hong was troubled by the fundamental changes being introduced by the leaders to ensure that Malaysia (which Ee always referred to as Malaya) became centrally a Malay nation. Not only was Ee trying his best to dissociate himself from what he termed the “mimicry of foreign birds” (i.e. the language of the colonial masters) but he was more critically searching for a new idiom which would give freshness to the rendition of the Malayan experience. While this struggle was in process, the tragedy of May 13 (1969) struck: here was a blatant illustration of ...


Empirical Likelihood In Missing Data Problems, Jing Qin, Biao Zhang, Denis H. Y. Leung Dec 2009

Empirical Likelihood In Missing Data Problems, Jing Qin, Biao Zhang, Denis H. Y. Leung

Research Collection School Of Economics

Missing data is a ubiquitous problem in medical and social sciences. It is well known that inferences based only on the complete data may not only lose efficiency, but may also lead to biased results if the data is not missing completely at random (MCAR). The inverse-probability weighting method proposed by Horvitz and Thompson (1952) is a popular alternative when the data is not MCAR. The Horvitz–Thompson method, however, is sensitive to the inverse weights and may suffer from loss of efficiency. In this paper, we propose a unified empirical likelihood approach to missing data problems and explore the ...


Dialogic Cosmopolitanism And Global Justice, Eduard Christiaan Jordaan Dec 2009

Dialogic Cosmopolitanism And Global Justice, Eduard Christiaan Jordaan

Research Collection School of Social Sciences

Although the term “cosmopolitan-communitarian debate” never really caught on, a national-global fault line remains prominent in debates about global justice. “Dialogic cosmopolitanism” holds the promise of bridging this alleged fault line by accepting many of the communitarian criticisms against cosmopolitanism and following what can be described as a communitarian path to cosmopolitanism. This article identifies and describes four key elements that distinguish dialogic cosmopolitanism: a respect for difference; a commitment to genuine dialogue; an open, hesitant and self-problematising attitude on the part of the moral subject; and an undertaking to expand the boundaries of moral concern to the point of ...


The Hard Embodiment Of Culture, Dov Cohen, Angela K. Y. Leung Dec 2009

The Hard Embodiment Of Culture, Dov Cohen, Angela K. Y. Leung

Research Collection School of Social Sciences

The way humans move and comport their bodies is one way they (literally) carry their culture. In pre-wired embodiments, body comportment triggers basic, evolutionarily prepared affective and cognitive reactions that subsequently prime more complex representations. Culture suffuses this process, because (1) cultural artifacts, affordances, and practices make certain body comportments more likely, (2) cultural practices, rituals, schemas, and rules promote the learning of an otherwise underspecified connection between a given body comportment and a particular basic reaction, and (3) cultural meaning systems elaborate basic affective and cognitive reactions into more complex representations. These points are illustrated with three experiments that ...


Who Governs Energy? The Challenges Facing Global Energy Governance, Ann Florini, Benjamin K. Sovacool Dec 2009

Who Governs Energy? The Challenges Facing Global Energy Governance, Ann Florini, Benjamin K. Sovacool

Research Collection School of Social Sciences

This article conceptualizes the energy problems facing society from a global governance perspective. It argues that a notion of "global energy governance," taken to mean international collective action efforts undertaken to manage and distribute energy resources and provide energy services, offers a meaningful and useful framework for assessing energy-related challenges. The article begins by exploring the concepts of governance, global governance, and global energy governance. It then examines some of the existing institutions in place to establish and carry out rules and norms governing global energy problems and describes the range of institutional design options available to policymakers. It briefly ...


Freedom Of Speech And Contempt By Scandalizing The Court In Singapore, Jack Tsen-Ta Lee Nov 2009

Freedom Of Speech And Contempt By Scandalizing The Court In Singapore, Jack Tsen-Ta Lee

Research Collection School Of Law

The offence of scandalizing the court, a form of contempt of court, is regarded as obsolete in the United Kingdom. However, it continues to be imposed in other Commonwealth nations and remains very much alive in Singapore, having been applied in a crop of cases between 2006 and 2009. This short commentary examines one of these cases, Attorney-General v Hertzberg and others [2009] 1 Singapore Law Reports 1103, which has generated worldwide interest as it arose out of articles published in the Wall Street Journal Asia. In Hertzberg, the High Court of Singapore held that utterances by an alleged contemnor ...


Compassion: Why It Is Better To Eat Fish, Knowledge@Smu Nov 2009

Compassion: Why It Is Better To Eat Fish, Knowledge@Smu

Knowledge@SMU

Compassion was probably the farthest notion from Colonel Sanders’ mind when he became the global poster boy for delicious fried chicken. He had started his business in the early twentieth century – a period marked by the great depression and two world wars. Prejudices festered under the hostile global climate then, where little consideration was given to the suffering of human beings, much less animals. However, with the progress of time, scientific advancements have urged us, increasingly, to be kinder to fellow humans, animals, the environment… and that we really ought to be munching on fried fish instead.


Tunneling Through Inter-Corporate Loans: The China Experience, Guohua Jiang, Charles M.C.Lee, Heng Yue Nov 2009

Tunneling Through Inter-Corporate Loans: The China Experience, Guohua Jiang, Charles M.C.Lee, Heng Yue

Research Collection School of Accountancy

This study investigates a particularly brazen form of corporate abuse, in which controlling shareholders use intercorporate loans to siphon billions of RMB from hundreds of Chinese listed companies during the 1996 to 2006 period. We document the nature and extent of these transactions, evaluate their economic consequences, examine factors that affect their cross-sectional severity, and report on the mitigating roles of auditors, institutional investors, and regulators. Collectively, our findings shed light on the severity of the minority shareholder expropriation problem in China, as well as the relative efficacy of various legal and extra-legal governance mechanisms in that country.


Automated Likelihood Based Inference For Stochastic Volatility Models, H. Skaug, Jun Yu Nov 2009

Automated Likelihood Based Inference For Stochastic Volatility Models, H. Skaug, Jun Yu

Research Collection School Of Economics

The Laplace approximation is used to perform maximum likelihood estimation of univariate and multivariate stochastic volatility (SV) models. It is shown that the implementation of the Laplace approximation is greatly simplified by the use of a numerical technique known as automatic differentiation (AD). Several algorithms are proposed and compared with some existing maximum likelihood methods using both simulated data and actual data. It is found that the new methods match the statistical efficiency of the existing methods while significantly reducing the coding effort. Also proposed are simple methods for obtaining the filtered, smoothed and predictive values for the latent variable ...


Affordable Homeownership Policy: Implications For Housing Markets, Sock Yong Phang Nov 2009

Affordable Homeownership Policy: Implications For Housing Markets, Sock Yong Phang

Research Collection School Of Economics

Affordable homeownership is a policy that is often accorded a great deal of policy attention by governments of many countries. In this paper, we examine the market implications of setting a housing price to income ratio target for a market segment by the government. The policy requires active intervention by the government with regard to the targeted sector. We use a simple model of the housing market with a homeownership affordability target to derive the market implications of such targets. In the presence of uncertainty and resource constraints, the objective of homeownership affordability is achieved for the targeted group at ...


Dating The Timeline Of Financial Bubbles During The Subprime Crisis, Peter C. B. Phillips, Jun Yu Nov 2009

Dating The Timeline Of Financial Bubbles During The Subprime Crisis, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

A new recursive regression methodology is introduced to analyze the bubble characteristics of various financial time series during the subprime crisis. The methods modify a technique proposed in Phillips, Wu, and Yu (2011) and provide a technology for identifying bubble behavior with consistent dating of their origination and collapse. The tests serve as an early warning diagnostic of bubble activity and a new procedure is introduced for testing bubble migration across markets. Three relevant financial series are investigated, including a financial asset price (a house price index), a commodity price (the crude oil price), and one bond price (the spread ...


Bias In The Estimation Of The Mean Reversion Parameter In Continuous Time Models, Jun Yu Nov 2009

Bias In The Estimation Of The Mean Reversion Parameter In Continuous Time Models, Jun Yu

Research Collection School Of Economics

It is well known that for continuous time models with a linear drift standard estimation methods yield biased estimators for the mean reversion parameter both in nite discrete samples and in large in-…ll samples. In this paper, we obtain two expressions to approximate the bias of the least squares/maximum likelihood estimator of the mean reversion parameter in the Ornstein-Uhlenbeck process with a known long run mean when discretely sampled data are available. The first expression mimics the bias formula of Marriott and Pope (1954) for the discrete time model. Simulations show that this expression does not work satisfactorily ...


Bayesian Analysis Of Structural Credit Risk Models With Microstructure Noises, Shirley J. Huang, Jun Yu Nov 2009

Bayesian Analysis Of Structural Credit Risk Models With Microstructure Noises, Shirley J. Huang, Jun Yu

Research Collection School Of Economics

In this paper a Markov chain Monte Carlo (MCMC) technique is developed for the Bayesian analysis of structural credit risk models with microstructure noises. The technique is based on the general Bayesian approach with posterior computations performed by Gibbs sampling. Simulations from the Markov chain, whose stationary distribution converges to the posterior distribution, enable exact ¯nite sample inferences of model parameters. The exact inferences can easily be extended to latent state variables and any nonlinear transformation of state variables and parameters, facilitating practical credit risk applications. In addition, the comparison of alternative models can be based on deviance information criterion ...


Explosive Behavior In The 1990s Nasdaq: When Did Exuberance Escalate Asset Values?, Peter C. B. Phillips, Yangru Wu, Jun Yu Nov 2009

Explosive Behavior In The 1990s Nasdaq: When Did Exuberance Escalate Asset Values?, Peter C. B. Phillips, Yangru Wu, Jun Yu

Research Collection School Of Economics

A recursive test procedure is suggested that provides a mechanism for testing explosive behavior, date-stamping the origination and collapse of economic exuberance, and providing valid confidence intervals for explosive growth rates. The method involves the recursive implementation of a right-side unit root test and a sup test, both of which are easy to use in practical applications, and some new limit theory for mildly explosive processes. The test procedure is shown to have discriminatory power in detecting periodically collapsing bubbles, thereby overcoming a weakness in earlier applications of unit root tests for economic bubbles. Some asymptotic properties of the Evans ...


Econometric Analysis Of Continuous Time Models: A Survey Of Peter Philip’S Work And Some New Results, Jun Yu Nov 2009

Econometric Analysis Of Continuous Time Models: A Survey Of Peter Philip’S Work And Some New Results, Jun Yu

Research Collection School Of Economics

Econometric analysis of continuous time models has drawn the attention of Peter Phillips for nearly 40 years, resulting in many important publications by him. In these publications he has dealt with a wide range of continuous time models and econometric problems, from univariate equations to systems of equations, from asymptotic theory to nite sample issues, from parametric models to nonparametric models, from identication problems to estimation and inference problems, from stationary models to nonstationary and nearly nonstationary models. This paper provides an overview of Peter Phillips' contributions in the continuous time econometrics literature. We review the problems that have been ...


Forecasting Realized Volatility Using A Nonnegative Semiparametric Model, D. Preve, A. Eriksson, Jun Yu Nov 2009

Forecasting Realized Volatility Using A Nonnegative Semiparametric Model, D. Preve, A. Eriksson, Jun Yu

Research Collection School Of Economics

This paper introduces a parsimonious and yet flexible nonnegative semiparametric model to forecast volatility. The new model extends the linear nonnegative autoregressive model of Barndorff-Nielsen and Shephard (2001) and Nielsen and Shephard (2003) by way of a Box-Cox transformation. It is semiparametric in the sense that the dependency structure and the distributional form of its error component are left unspecified. The statistical properties of the model are discussed and a novel estimation method is proposed. Its out-of-sample performance is evaluated against a number of standard methods, using data on S&P 500 monthly realized volatilities. The competing models include the ...


Transformation Of The Urban Rail Sector Through Ppp, Sock-Yong Phang Nov 2009

Transformation Of The Urban Rail Sector Through Ppp, Sock-Yong Phang

Research Collection School Of Economics

The recent proliferation of Public Private Partnership (PPP) projects in numerous cities has transformed the urban rail sector. The enthusiasm for PPPs can be explained by improved understanding of efficiency gains and risks of bundling and unbundling tasks as well as availability and lower cost of private sector finance. The four main PPP approaches identified are: (i) development of new systems through DBFOs (Design- Build-Finance-Operate); (ii) concessioning of rail and subway services; (iii) sale of stateowned operators through share issue privatisation; and (iv) PPPs for infrastructure maintenance and upgrading. This paper examines examples of successes and failures to better understand ...


Why Did Universities Precede Primary Schools? A Political Economy Model Of Educational Change, Fali Huang Nov 2009

Why Did Universities Precede Primary Schools? A Political Economy Model Of Educational Change, Fali Huang

Research Collection School Of Economics

Universities were first established in Europe around the twelfth century, while primary schools did not appear until the nineteenth. This paper accounts for this phenomenon using a political economy model of educational change on who are educated (the elite or the masses) and what is taught (general or specific/vocational education). A key assumption is that general education is more effective than specific education in enhancing one’s skills in a broad range of tasks, including political rent-seeking. Its findings suggest that specific education for the masses is compatible with the elite rule, while mass general education is not, which ...


Modeling Change Over Time: Conceptualization, Measurement, Analysis, And Interpretation, David Chan Nov 2009

Modeling Change Over Time: Conceptualization, Measurement, Analysis, And Interpretation, David Chan

Research Collection School of Social Sciences

The objective of this research report is to provide a state-of-the art review of the issues and methods relating to the modeling of change over time. The focus is on the quantitative assessment of the concept of change of time, which includes issues of conceptualization, measurement, data analysis, and interpretation. The rationale and motivation for this research originated from the author?s observations (specifically in the past decade in the capacities of journal editor, reviewer, symposium discussant, and workshop leader) on the need for a comprehensive and relatively non-technical reference on and integration of various issues in the modeling of ...


Reaching Out And Beyond: A Review Of Southeast Asian Writing In English [Book Review], Kirpal Singh Nov 2009

Reaching Out And Beyond: A Review Of Southeast Asian Writing In English [Book Review], Kirpal Singh

Research Collection School of Social Sciences

No abstract provided.


Personality Scale Validities Increase Throughout Medical School, Filip Rene O Lievens, Ds Ones, S Dilchert Nov 2009

Personality Scale Validities Increase Throughout Medical School, Filip Rene O Lievens, Ds Ones, S Dilchert

Research Collection Lee Kong Chian School Of Business

Admissions and personnel decisions rely on stable predictor-criterion relationships. The authors studied the validity of Big Five personality factors and their facets for predicting academic performance in medical school across multiple years, investigating whether criterion-related validities change over time. In this longitudinal investigation, an entire European country's 1997 cohort of medical students was studied throughout their medical school career (Year 1, N = 627; Year 7, N = 306). Over time, extraversion, openness, and conscientiousness factor and facet scale scores showed increases in operational validity for predicting grade point averages. Although there may not be any advantages to being open and ...


Directed Altruism And Enforced Reciprocity In Social Networks, Stephen Leider, Markus M. Mobius, Tanya Rosenblat, Quoc-Anh Do Nov 2009

Directed Altruism And Enforced Reciprocity In Social Networks, Stephen Leider, Markus M. Mobius, Tanya Rosenblat, Quoc-Anh Do

Research Collection School Of Economics

We conducted online field experiments in large real-world social networks in order to decompose prosocial giving into three components: (1) baseline altruism toward randomly selected strangers, (2) directed altruism that favors friends over random strangers, and (3) giving motivated by the prospect of future interaction. Directed altruism increases giving to friends by 52% relative to random strangers, whereas future interaction effects increase giving by an additional 24% when giving is socially efficient. This finding suggests that future interaction affects giving through a repeated game mechanism where agents can be rewarded for granting efficiency-enhancing favors. We also find that subjects with ...


Stimulated Maximum Likelihood Estimation Of Continuous Time Stochastic Volatility Models, Tore Selland Kleppe, Jun Yu, Hans J. Skaug Nov 2009

Stimulated Maximum Likelihood Estimation Of Continuous Time Stochastic Volatility Models, Tore Selland Kleppe, Jun Yu, Hans J. Skaug

Research Collection School Of Economics

In this paper we develop and implement a method for maximum simulated likelihood estimation of the continuous time stochastic volatility model with the constant elasticity of volatility. The approach do not require observations on option prices nor volatility. To integrate out latent volatility from the joint density of return and volatility, a modified efficient importance sampling technique is used after the continuous time model is approximated using the Euler-Maruyama scheme. The Monte Carlo studies show that the method works well and the empirical applications illustrate usefulness of the method. Empirical results provide strong evidence against the Heston model.


Trade, Growth And Increasing Returns To Infrastructure: The Role Of The Sophisticated Monopolist, Ashok S. Guha, Brishti Guha Nov 2009

Trade, Growth And Increasing Returns To Infrastructure: The Role Of The Sophisticated Monopolist, Ashok S. Guha, Brishti Guha

Research Collection School Of Economics

Equilibrium in international trade with increasing returns in infrastructure depends on whether the infrastructure provider is “naïve” or sophisticated. A monopolist produces infrastructure under decreasing cost using fixed equipment. Unlike similar work, we derive a unique closed-economy equilibrium. In a small open economy, with “naïve” infrastructure provider(s), multiple equilibria obtain. The industrial export potential of the economy depends on unexhausted economies of scale, and equilibria are possible where manufactures are exported despite an autarky price higher than the world price. With a sophisticated infrastructure provider, even an open economy has a unique equilibrium, which, at least as long as ...


Brokerage Industry Self-Regulation: The Case Of Analysts’ Background Disclosures, Lawrence Brown, Artur Hugon, Hai Lu Nov 2009

Brokerage Industry Self-Regulation: The Case Of Analysts’ Background Disclosures, Lawrence Brown, Artur Hugon, Hai Lu

Research Collection School Of Accountancy

We evaluate an industry disclosure initiative designed to inform investors, the practice of providing information regarding investment professionals’ backgrounds. Implicit in the motivation for this initiative is the presumed relevance of background information to investors seeking investment professionals’ guidance. We find that analysts with disclosure incidents forecast less accurately than a matched sample of analysts without such disclosures, and that the market views disclosed analysts’ earnings forecasts as less credible than those of the matched sample. Our evidence is consistent with disclosures signaling a persistent analyst characteristic. We conclude that analyst backgrounds are informative regarding both the accuracy and credibility ...