Public Lectures
The Innovation Deception, March 2019
Innovation is a crucial driver of national growth and competitiveness. As such, policy makers and investors have a strong interest in evaluating innovation in firms and the economy as a whole. The most widely used metric for measuring innovation is the number of patents a firm receives, and to stimulate innovation several countries have recently discussed or enacted policies giving tax deductions for patent-based income. But are such measures accurate? Our findings reveal that a company’s patent filings and citations do not reflect R&D success, even when compared to firms in the same industry.
Presentation Slides
Behavioral Finance: Mitigating Financial Mistakes, March 2018
Individuals often rely on both economic motivation and behavioral biases in making financial decisions. Behavioral biases seriously distort financial decisions in financial markets, corporations, and households. A small number of principles potentially explain these behavioral effects, which provides guidance on how to alleviate them in financial decisions. As these financial mistakes are especially pronounced in households, two policy implications for Singapore are discussed.
Presentation Slides
Building a World-Class Stock Exchange, April 2015
Not all stock exchanges are created equal. Even among well-developed markets, some exchanges prosper, while others stagnate or fail. Stock exchanges have seen many changes in the past decade with the globalization and liberalization of capital markets, which has made it easier for firms to access overseas capital through initial public offerings (IPOs) and listings on foreign stock markets. What makes a world class stock exchange?
Presentation Slides
The Innovation Deception, March 2019
Innovation is a crucial driver of national growth and competitiveness. As such, policy makers and investors have a strong interest in evaluating innovation in firms and the economy as a whole. The most widely used metric for measuring innovation is the number of patents a firm receives, and to stimulate innovation several countries have recently discussed or enacted policies giving tax deductions for patent-based income. But are such measures accurate? Our findings reveal that a company’s patent filings and citations do not reflect R&D success, even when compared to firms in the same industry.
Presentation Slides
Behavioral Finance: Mitigating Financial Mistakes, March 2018
Individuals often rely on both economic motivation and behavioral biases in making financial decisions. Behavioral biases seriously distort financial decisions in financial markets, corporations, and households. A small number of principles potentially explain these behavioral effects, which provides guidance on how to alleviate them in financial decisions. As these financial mistakes are especially pronounced in households, two policy implications for Singapore are discussed.
Presentation Slides
Building a World-Class Stock Exchange, April 2015
Not all stock exchanges are created equal. Even among well-developed markets, some exchanges prosper, while others stagnate or fail. Stock exchanges have seen many changes in the past decade with the globalization and liberalization of capital markets, which has made it easier for firms to access overseas capital through initial public offerings (IPOs) and listings on foreign stock markets. What makes a world class stock exchange?
Presentation Slides
