Out of the Mouths of Babes: Business Ethics and Youths in Asia

A model of corporate ethics and social responsibility (CESR) was developed and empirically tested among Chinese business undergraduates in Hong Kong and Singapore. As predicted, it was found that CESR beliefs were negatively related to Machiavellianism and two Confucian concepts, guanxi (interpersonal connections) and mianzi (face). CESR beliefs were also lower among Hong Kong than Singaporean youths. The negative effects of guanxi, mianzi, and Machiavellianism were more pronounced for the Hong Kong than Singapore sample. Implications of these findings are discussed and directions for future research suggested.     

Latin America After the Argentine Crisis: Diminishing Financial Market Integration

Original Papers

Latin America After the Argentine Crisis: Diminishing Financial Market Integration     

Analysis of ultra-high-frequency financial data using advanced Fourier transforms

This paper presents a novel application of advanced methods from Fourier analysis to the study of ultra-high-frequency financial data. The use of Lomb–Scargle Fourier transform, provides a robust framework to take into account the irregular spacing in time, minimising the computational effort. Likewise, it avoids complex model specifications (e.g. ACD or intensity models) or resorting to traditional methods, such as (linear or cubic) interpolation and regular resampling, which not only cause artifacts in the data and loss of information, but also lead to the generation and use of spurious information.     

Strategic Sequential Bidding for Government Land Auction Sales – Evidence from Singapore

This paper studies the extent to which equilibrium land auction prices are pushed up sequentially due to strategic bidding behaviors in government land auction sales. Using a unique dataset that covers the universe of tendering prices submitted by all developers for all residential land auction sales in Singapore, we find that a tenderer’s bids are significantly higher where there was a previous land parcel sold within two years and located within four kilometers. The identified price margin decreases with time and geographic distance. Tracking sequential bids submitted by the same developer over time, we find that the incumbent winner of a previous auction is more likely to participate in subsequent nearby land sales as compared to the second-highest bidder of the same auction. However, it does not necessarily win the subsequent sites. We argue that the incumbent deliberately bids up the subsequent land prices to gain pricing advantages to their own parcels.     

SOCIALLY ENGAGED MUNICIPAL STATECRAFT IN URBAN CHINA? The Shenzhen Biennale as Situated Planning Experiment

In this article I build on scholarship that calls for attention to the interventionist role of the municipality in steering development beyond growth to introduce the situated planning experiment as a mechanism through which municipalities practice socially engaged statecraft. The situated planning experiment foregrounds place-based innovative planning practices that incorporate the participation of citizen intellectuals who act as advocates for marginalized groups in China. I frame the Shenzhen UrbanismArchitecture Biennale (UABB) as a situated planning experiment, tracing its influence on the municipality's shift in approach to planning for urban village redevelopment. I show how the UABB is leveraged as an instrument for the municipality to connect social and economic objectives in development and how it presents differentiated opportunities for migrant residents to make viable urban lives. The article offers one possibility for theorizing the changing relationship between municipal entrepreneurialism and urban planning and critically evaluates the potential for socially engaged municipal statecraft, considering the Xi regime's focus on people-oriented urbanization. It represents one way in which studies of municipal statecraft can consider the variegated logics and forms of emerging post-growth state programmes and politics.     

Vector network equilibrium problems with capacity constraints of arcs

In this paper, we study a (weak) vector equilibrium principle with capacity constraints of arcs and common arcs in some different paths. We obtain some necessary and sufficient conditions for a (weak) vector minimum cost flow. By virtue of a (weak) Δ-equilibrium principle, we also derive some necessary and sufficient conditions for a weak vector equilibrium flow.