Credit Card Selection Criteria: Singapore Perspective

This study used factor analysis to examine credit card selection criteria among Singaporeans. The results showed that convenience of use and protection, economics, and flexibility were the main drivers, while the reputation of card was the least important in determining credit card selection in Singapore. Demographic results showed that high-income earners, the better educated, the elderly, married and the professional preferred the convenience-protection factor to the economic-promotional factor. Females were shown to value the promotional factor more, while males preferred the economic factor. The ethnic Malays placed a greater emphasis on the economic factor than did the ethnic Chinese. The results also showed that the number of credit card owned in Singapore is positively related to education, income, age group, and marital status. Those holding a single credit card stressed the economic factor more than those holding many cards. In Singapore, the higher income earners, the better educated, older adults, females, married, and both Chinese and Indians are more receptive to paying their monthly credit card balances in full. The results demonstrated that Singaporeans do not view the credit card selection criteria much differently from respondents from other developing and advanced nations.credit card selection, credit card usage, banking regulation, factor analysis

Relationship between macroeconomic variables and stock market indices: cointegration evidence from stock exchange of Singapore’s all-S sector indices

The relationship between macroeconomic variables and stock market returns is, by now, well-documented in the literature. However, a void in the literature relates to examining the cointegration between macroeconomic variables and stock market’s sector indices rather than the composite index. Thus in this paper we examine the long-term equilibrium relationships between selected macroeconomic variables and the Singapore stock market index (STI), as well as with various Singapore Exchange Sector indices—the finance index, the property index, and the hotel index. The study concludes that the Singapore’s stock market and the property index form cointegrating relationship with changes in the short and long-term interest rates, industrial production, price levels, exchange rate and money supply. Implications of the study and suggestions for future research are provide

Ethnicity, Gender and Entrepreneurial Tendencies: The Singapore Perspective

Abstract Creativity and risk-taking, widely accepted prerequisites for successful entrepreneurial behavior, were absent for a long time from Singaporean culture, where people were accustomed to well paying and readily available jobs in the public sector. As a result of the economic slowdown of the late 1990s, promoting entrepreneurial activities became a priority of the Singapore government. This study analyzes the entrepreneurial characteristics of Singapore's multi-racial and multi-cultural society, and attempts to find if there are any reasons as to why some people are more readily willing to engage in entrepreneurial behavior, based on factors such as race, gender, and culture. Keywords: Entrepreneurship, culture, innovation, risk propensity, Singapor

A Cross Sectional Study of Financial Measures in Predicting Stocks’ Riskiness during Year 2008 Crash Period

The study tests the use of financial measures in predicting stocks’ riskiness during 2008 crash period. The stock market witnessed a number of crashes with the most recent one in year 2008. Crashes cause instability in the stock market and a collapse of investor confidence. In a study, Bahhouth and Maysami (2009) showed evidence that Beta had a marginal effect in predicting stocks riskiness. The paper explores the ability of using financial ratios to identify stocks’ riskiness (i.e. stocks that are more adversely affected during the crash periods). Analysts, practitioners and academicians used financial ratios in assessing stock returns in financial markets (Arslan, O. and Karam, M., 2009; Bhandari 1988; Basu 1977; Tze, S., and Bon H., 2009). The results showed that a set of financial measures exhibited significant predictive power in identifying stocks that were adversely affected during the year 2008 crash period

Time-inconsistent Preference and Reference Dependence

The paper explains time-inconsistent preferences by particularly focusing on the concept of reference dependence. The objective is to propose a short survey on various features of reference dependence and different causes that lead to the change of reference level. The emphasis of the paper is on the interpretation of the concepts and their behavioral implications

Does the Personal Trait Play a Significant Role on Chinese Students’ Perception of Sales Profession as a Career?

The purpose of this study is to investigate students’ perceptions of personal selling as a career in the developing nations, China in this case. Research has been conducted underscoring the negative perception of the sales profession among students in the United States, particularly in the areas of ethics and honesty (Futrell, 2007; Lee et al, 2007); the scarcity of information relating to the profession can exacerbate the negative image that is presented by this profession. Logistic regression and Z test are used in this research to assess whether Chinese students are averse to careers in personal selling just as is the case in the United States. The results do confirm the results of preceding studies; personal factors play a significant role in predicting students’ perception of sales profession as a career; Chinese students have a biased perception about sales as career; however, interestingly few dimensions showed significant effect

An empirical comparison of hedging strategies with financial futures and options on futures

Hedgingfixed rate mortgage (FRM) portfolios with financial futures and options is suggested to substitutes for the adjustable rate mortgage as the hedging instrument. This study examines the comparative benefits of hedging the FRM through selling futures, buying puts, and the combined buy-putlsell-call strategies in lowering the standard deviation of returns of the unhedged portfolio over the period 1983 to 1991. The results show that covering the FRM through futures and options markets strategies are successful in lowering the variability of returns. The relative advantage of each strategy in terms of the mean-standard deviation pairs, however, depends on the direction of interest rate movements. Since the primary purpose offinancial institutions in hedging interest rate risk associated with their portfolio of fixed rate mortgages is to prevent values from falling as well as to reduce the variability of returns, the use of put options and finanCial futures as the hedging instrument is recomended

The Monetary Authority of Singapore : its establishment, growth and changing role

The Monetary Authority of Singapore (MAS) was established in 1971 to perform essentially all the functions of a central bank except currency issuance that remained under the jurisdiction of the Board of Commissioners of Currency. It was responsible for implementing monetary policies, supervising financial activities in the country, and being adviser, banker, and financial agent to the Singapore government. In October 2002, the Board of Commissioners of Currency was integrated into MAS as its currency department. This case documents the rationales for the establishment, growth and development of MAS and delineates its changing role during the last three decades in the face of rapid financial liberalisation and banking reform in Singapore. Period covered 1965 – 200