Assoc Prof Jeremy Goh of the SMU Sim Kee Boon Institute for Financial Economics comments on American Depository Receipts.
The Singapore Stock Exchange wants to buy the Australian Stock Exchange for $8.5 billion. While traders are in favour of the deal, there are significant issues of governance and independence yet to be resloved.
Op-ed by PETER C B PHILLIPS, JUN YU and ERIC GHYSELS.
"The dot-com bubble, the subsequent US housing bubble and the recent financial crisis all underscore the need for better tools and early-warning systems on market exuberance, which some of the latest research in financial econometrics provides. Singapore is well-placed to join London and New York, which have strong links with the financial econometrics circuit. This article is contributed by Peter C B Phillips, distinguished term professor and co-director of the Centre for Financial Econometrics at SMU's Sim Kee Boon Institute for Financial Economics (SKBI), Professor Jun Yu, co-director of the same centre at SKBI and deputy director of SKBI, and Eric Ghysels, Bernstein distinguished professor of economics and professor of finance at the University of North Carolina."
New rules that require banks to hold more capital don't address the problem of lax credit checks that caused the recent financial crisis, OCBC Bank chief executive David Conner said yesterday in a pointed criticism of the Basel III guidelines announced last month. He was speaking at a seminar on governance and ethics in the financial sector, [organised by the Sim Kee Boon Institute for Financial Economics] at SMU.
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