Articles 1 to 10 of 32
Before the fields run dry: How to avoid the 'Dutch Disease'
For any economy, the discovery of abundant natural resources is almost akin to striking nature's lottery. But as any eager financial planner might say to a lottery winner, no windfall can last for long without a solid financial plan. Singapore, a country admired for its relatively substantial national reserves, is home to almost no natural resources (except for human capital, we're told). This lack of natural resources, however, may well be the reason behind the country's economic success. According to Svein Gjedrem, governor of Norges Bank, natural resource-rich countries often suffer from a 'disease' that causes them to rely too heavily on the easy money that comes from exploiting those natural resources.
Private equity: The players, the jargons, and what lies ahead
What do private equity and venture capital fund managers do? The short answer to that question will hardly do justice to the profession. Yet, it is not easy to provide an accurate explanation without first condensing the nuts and bolts that form the mechanics of the industry. Dan Schwartz, editor of the Asian Venture Capital Journal, does just that, albeit in the form of the 236-page The Future of Finance: How Private Equity and Venture Capital Will Shape the Global Economy – a book that has prominent industry leaders speaking to the layman.
Secrets and lies: How one man charmed his way into the hearts, minds and wallets of New York's rich and powerful
Bernie Madoff’s reputation as the largest ponzi scheme operator will probably outlast the 150-year jail sentence he is now serving. For decades, the man created an aura around himself that spoke to the romantic ambitions of Wall Street's sycophants: unyielding success, exclusivity and power. Moreover, Madoff conjured a mystique so intriguing he had investors practically begging to surrender their money. But not everyone was blinded. Harry Markopolos, a financial consultant turned famous whistleblower, was convinced that the magician hath no magical abilities. For close to ten years, he nudged US regulators to no avail. His journey is detailed in the book, No One Would Listen.
Hot seats and Seat warmers: The hunt for Directors of quality
Is it humanly possible for a person to hold more than five directorships? Why are there so few female directors in Singapore? Are we short of qualified directors? How can regulations help maintain standards? These were some of the questions that confronted a panel of seasoned directors speaking at the graduation ceremony of a certification programme for directors; issues that have seen heated debates in Singapore of late. This follows recent reports that an unusually high percentage of directors sit on many different boards, leading to questions of their ability to fully discharge their responsibilities as directors.
Watch the vote: Avoiding undesirable zero-sum outcomes
Luxury watches often invoke a lot of debate amongst its aficionados. After the great lengths to which people go to, to collect, study, appraise and critique these mobile mechanical clocks, it is no surprise that they feel very strongly about their picks. Decisions made by prestigious bodies, such as the Grand Prix d’Horlogerie, are hence quite delicate. People's money, ego, and pride are at stake. So picking the winner that will keep the majority satisfied is crucial, yet quite difficult to do. Drawing comparisons to political election outcomes, SMU Economics professor Massimiliano Landi explores a new voting system to address such concerns.
Rewriting the world order: China's footprint on the credit crisis and international affairs
Tired of reading conventional theories to what caused the recent financial crisis? How about a theory that places the blame on China, for a change? Giles Chance, author of “China and the Credit Crisis”, dances between the fine lines as he gives a fresh spin on the crisis, blind Western policymakers, a global currency and the world order that is to come as the "China effect" dominates familiar Western models of capitalism, politics and diplomacy.
An economist's take on the opportunities and threats that lie ahead for Asia
Say you have the ability to foresee the ups and downs of the economy; what would you do with that power? Stephen Roach's answer: Become a celebrated economist, columnist and author! His latest book, The Next Asia, is a 2006 to 2009 greatest hits collection of essays on what, he believes, are the region's shortfalls and opportunities. There is plenty to chew upon – from what Roach believes are the factors that led to the recent financial crisis to the various issues that will plague the continent's rapidly developing economies.
Corporate governance in China: No quick fix, No fixed solution
China offers a multitude of business opportunities, but international investors often find themselves stumped with a range of issues, many of which boil down to the country's distinct system of corporate governance. Here, the lines between interests and relationships are less clear-cut, and links to the government seem to serve as a proxy to accountability. This is a system that exists for a reason, said TJ Wong at SMU's Ho Bee Professorship in Chinese Economy and Business lecture series. However, foreign investors, used to international norms of transparency, are calling this into question.
Monitoring state-owned versus state-controlled enterprises
What’s the best way to monitor listed Chinese companies effectively? Should the Chinese government introduce more stringent corporate governance regulations to keep managers on their toes? Forget it. According to a research study by SMU accounting professor Wang Jiwei, the government is better off ditching its little black book of corporate governance reform and focusing on other ways to get results.
Following the financial crisis: risk and opportunities for Singapore
Asian economies are showing signs of recovery, and the stock markets have rebounded, leading to optimism that the worst of the economic crisis is over. However, few are expecting a quick return to the boom years, for weakness still persists in major economies while uncertainties remain in others. Nevertheless, for those Singapore-based regional financial industry players speaking at a recent seminar organised by the Sim Kee Boon Institute of Financial Economics, they are picking up lessons learned, seeing beyond the near-term worries, and finding growth opportunities.
