Debt, Managerial Incentives and Learning.

Using a dynamic model with uncertainty and asymmetric information, we study the impact of debt on managerial compensation and performance targets. In this model, compensation has two roles to play – providing incentives to the manager and learning about his type. We show that debt acts as a substitute of compensation in both dimensions. If uncertainty is not too low, the incentive role of debt dominates the learning role. Thus in the presence of debt, compensation contracts can be more effective in learning about the manager. As debt increases, the pay-performance sensitivity falls and learning increases. We also examine the choice of debt and derive conditions under which a positive level of debt is optimal. We also conduct comparative statistics with respect to the degree of asymmetric information and uncertainty.

Teaching effective communication through e-Learning

To meet the needs of a globalized world, a university curriculum needs to address theoretical and practical skills which emphasise versatility, adaptability and flexibility for a more creative workforce, adaptive in knowledge and well-equipped with a range of skills to actively contribute to the new economy. These skills include people management, problem analysis, communication skills, as well as technical skills for presentation, aspects of delivery and modes of enquiry. The greatest challenge faced by SIM University (UniSIM), Singapore’s only university for working adults, is how to respond innovatively to the demand for new and dynamic skills competencies,lifelong learning and e-technologies. In recognition of this demand, UniSIM employs an eclectic pedagogical approach in delivering its courses such as the university core module entitled Effective Communication which uses the “blended learning” model, defined as "the effective combination of different modes of delivery, models of teaching and styles of learning" (Procter, 2003). This paper examines the development process of this course and its blended learning approach which combines modern technology using interactive learning on e-platforms such as Blackboard with traditional methods using textbooks, face-to-face lectures and tutorials to enable working adults to optimize their learning experience at the tertiary level

Bayesian Estimation of Dynamic Discrete Choice Models

Structural estimation, Dynamic programming, MCMC

On approximating the nearest \Omega-stable matrix

In this paper, we consider the problem of approximating a given matrix with a matrix whose eigenvalues lie in some specific region \Omega, within the complex plane. More precisely, we consider three types of regions and their intersections: conic sectors, vertical strips and disks. We refer to this problem as the nearest \Omega-stable matrix problem. This includes as special cases the stable matrices for continuous and discrete time linear time-invariant systems. In order to achieve this goal, we parametrize this problem using dissipative Hamiltonian matrices and linear matrix inequalities. This leads to a reformulation of the problem with a convex feasible set. By applying a block coordinate descent method on this reformulation, we are able to compute solutions to the approximation problem, which is illustrated on some examples.Comment: 14 pages, 3 figure

ProAm Sports

ProAm Sports takes fitness one step further by designing a tournament-based program, where members can sign up to participate in matches as individuals or teams in various sports and win actual cash prizes accumulated from a portion of their membership fees. Our project required implementing a database which stores information on players, teams, and games as well as a website that offers the ability for players to sign up, view information on events, pay for membership, and communicate with other players. There are three levels of paid membership, where each offers different benefits including discounts on event registration. After registering for an event, players can see their registration history and see which other members are registered for the same event. Members are able to interact with other players, compete with other teams, test their skills, and possibly win cash prizes. We implemented the website using Joomla and Community Builder so that the backend is menu-based instead of code-based in order to prove convenient for our sponsor. Extra functionality in the backend includes categorizing events by sport and tournament, making events repeat, and adding special discounts based on registration date. Community Builder also allows all members/players to create connections with each other and leave notes on each other’s profiles. Players are also given the capability of recording their achievements on their respective profiles for other players to view and take into consideration when recruiting for teammates.https://scholarscompass.vcu.edu/capstone/1164/thumbnail.jp