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To introduce the various private fund structuring options available in Singapore, an important fund management hub that has increasingly also come to be recognized as a popular fund domicile with its pro-business environment, transparent and robust regulatory regime and government support through tailored investment structures, tax incentives and extensive double taxation treaties.

This article provides an overview of the available private fund structures as well as the key legal issues and considerations that fund managers and investors should take into account when structuring a private fund. It also provides a brief summary of the available tax incentive schemes for funds in Singapore.

With growth in private market assets under management fueled by private equity funds over the last decade, the use of private investment funds established in Singapore has become a popular means to tap the large capital inflows into Asia. Singapore offers a wide range of fund structures to suit different fund strategies and considerations, including the variable capital company (“VCC”) structure, a legal structure tailored for use as investment funds that was introduced in January 2020.

There are a range of Singapore private fund structures available with different features, including the VCC, which is a corporate structure that allows for umbrella-sub-fund structures with segregated assets and liabilities, and the limited partnership, which is familiar to international investors and permits a large degree of contractual flexibility. Other structures such as unit trusts and private companies may also be suitable depending on the particular circumstances and objectives of the fund. Fund managers who are exploring setting up fund vehicles to tap Asian capital or to invest in Asia should be aware of the possible options, and their pros and cons.

Practical analysis and guidance and market commentary from experienced investment funds lawyers.

To show different ways the Singapore Variable Capital Company (“VCC”) can be employed and utilized.

Describes how the Singapore VCC can be used in master-feeder structures, umbrella structures, a “plug-and-play” model, sub-fund structures with different assets and different investors, open-ended structures, and structures that allow for tokenization of securities and the offering of VCC shares as digital securities.

The flexibility of the VCC allows it to be used across different fund strategies, investor classes and asset classes.

Practical analysis, guidance and market commentary from experienced investment funds lawyers.

The medium negotiators choose for communication will influence both process and outcome. To understand how medium influences power expression, this paper aims to compare value claiming by asymmetrically powerful negotiators, using face-to-face and computer-mediated messaging across two studies. Following up on long-standing conjectures from prominent coalition researchers, the authors also directly tested the role of the apex negotiator's personality in coalition formation and value expropriation.

The authors conducted two laboratory experiments which manipulated communication medium (computer-mediated vs face-to-face) in three- and four-person bargaining. They also varied asymmetry of power so the apex negotiator either could not be left out of a winning coalition (Study 1) or could be (Study 2). The authors measured trait assertiveness along with multiple indicators of hard bargaining behavior.

Communicating using instant messages via a computer interface facilitated value claiming for powerful negotiators across both studies. Trait assertiveness correlated with hard bargaining behavior in both studies. An index of hard bargaining behavior mediated the effect of assertiveness on value expropriation but only in the context where the powerful negotiator held a genuine monopoly over coalitions.

The authors contribute to the literature on multiparty negotiations by demonstrating persistent media effects on power utilization and by finally confirming the conjectures of prominent coalition researchers regarding personality. Though personality traits generate consistent effects on behavior, their influence on negotiation outcomes depends on the power structure. Negotiation theory needs to incorporate structural and situational factors in modelling effects of enduring traits. Negotiation research should move beyond a rigid focus on dyads.

Generalized structured component analysis (GSCA) and partial least squares path modeling (PLSPM) are two key component-based approaches to structural equation modeling that facilitate the analysis of theoretically established models in terms of both explanation and prediction. This study aims to offer a comparative evaluation of GSCA and PLSPM in a predictive modeling framework.

A simulation study compares the predictive performance of GSCA and PLSPM under various simulation conditions and different prediction types of correctly specified and misspecified models.

The results suggest that GSCA with reflective composite indicators (GSCA_R) is the most versatile approach. For observed prediction, which uses the component scores to generate prediction for the indicators, GSCA_R performs slightly better than PLSPM with mode A. For operative prediction, which considers all parameter estimates to generate predictions, both methods perform equally well. GSCA with formative composite indicators and PLSPM with mode B generally lag behind the other methods.

Future research may further assess the methods’ prediction precision, considering more experimental factors with a wider range of levels, including more extreme ones.

When prediction is the primary study aim, researchers should generally revert to GSCA_R, considering its performance for observed and operative prediction together.

This research is the first to compare the relative efficacy of GSCA and PLSPM in terms of predictive power.

Service organizations such as retail banks are attempting to increase their customers' lifetime value through the introduction of service innovations such as integrated banking. To date, these efforts have met with mixed success. This research proposes that strategic consideration of barriers to adoption can significantly alter and enhance the effectiveness of segmentation and communication efforts for service innovations.

The paper utilizes a latent class regression with concomitant variables on a large‐scale multinational consumer survey (n=2,702).

The results demonstrate that incorporating barriers to adoption significantly alters the segments into which customers are classified, resulting in improved model fit and out‐of‐sample prediction.

Future innovations will present other types of barrier. The authors show here that marketers can benefit from managing perceived barriers instead of directly analyzing consumer demographics.

We studied seven hydropower license consultations to examine the role of a sense of urgency to reach agreement. Hydropower licensing consultations were studied because the statutory requirement for consultation encourages negotiation, all such consultations are similar, and a negotiated settlement is not a foregone result. Cases selected for analysis met screening criteria. Structured interviews were conducted with participants after the negotiations had been concluded. Respondent recollections were checked against the documentary record. A sense of urgency to reach agreement was a significant factor in the completion of these negotiations; where there was no shared sense of urgency, purposeful delay adversely affected the negotiations. Although a sense of urgency was experienced by at least one party in each case, only a shared sense of urgency at the end of the process proved significant. Delay did not prevent ultimate agreement but a shared sense of urgency brought speedier agreement and greater satisfaction with the negotiation.

The main objective of customer satisfaction programs is to increase customer retention rates. In explaining the link between customer satisfaction and loyalty, switching costs play an important role and provide useful insight. For example, the presence of switching costs can mean that some seemingly loyal customers are actually dissatisfied but do not defect because of high switching costs. Thus, the level of switching costs moderates the link between satisfaction and loyalty. The purposes of this paper are: to examine the moderating role of switching costs in the customer satisfaction‐loyalty link; and to identify customer segments and then analyze the heterogeneity in the satisfaction‐loyalty link among the different segments. An empirical example based on the mobile phone service market in France indicates support for the moderating role of switching costs. Managerial implications of the results are discussed.

The purpose of this paper is to differentiate traditional industrial clusters from emerging consumption‐oriented and destination‐based regional service clusters (e.g. entertainment, service‐based tourism, and convention destination); to develop an analytical framework to examine the impacts of both cluster and network effects in service clusters; and to offer implications for managing service innovation to enhance regional development and global competitiveness.

By applying industrial cluster, strategic network, and value creation theories, this research develops a framework to study value creation in service clusters.

The research concludes that firms' decisions to enter or exit a service cluster depends on the net strategic effects, which is the sum of agglomeration economies (i.e. cluster effects) and the economies of network (i.e. network effects).

Further empirical research is needed to determine the significance of both cluster and network effects that determine firms' decisions to enter the service clusters.

First, firms need to incorporate cluster‐specific elements, such as experience economy, value networking, and service innovation to maximize the consumer's use value or perceived customer benefits. Second, in order to increase consumers' willingness to pay a higher price, firms located inside the service clusters need to adopt strategies, such as product or service differentiation, that increase the perceived benefits or use value of customers. Third, service cluster firms' other objectives should be to minimize location‐specific cost differentials by capitalizing on the positive effects of both agglomeration economies and economies of network. Fourth, public policy implications need to include laws and regulations that encourage and promote innovation and new ventures creation, competition in the marketplace, and capital investment to maximize value creation. Finally, policy makers need to promote high value‐added economic activities in the service clusters in order to maximize consumer welfare.

A growing number of policymakers and scholars have recognized the significant economic contributions from the consumption‐oriented regional clusters. This paper is the first effort to develop an analytical framework to study value creation in service clusters for effective managerial and policy decisions.