Swee Sum

LAM, Swee Sum

Associate Professor
Director, Asia Centre for Social Entrepreneurship & Philanthropy


FINANCE

(65) 6516 3037
bizlamss@nus.edu.sg
BIZ1 7-50
Curriculum Vitae

Educational Qualifications

  • Ph.D., Theology, Durham University, St. John's College, 2018
  • Ph.D., Finance, University of Washington, USA, 1988
  • B.Acc (Hons), Accountancy, University of Singapore, Singapore, 1977

Academic Experience

  • Director, Asia Centre for Social Entrepreneurship and Philanthropy (ACSEP), National University of Singapore, 2011 - current
  • Associate Professor of Finance, National University of Singapore, 1998 - current
  • Director, NUS CFA Program Partnership, 2007
  • Fellow, Institute of Certified Public Accountants, (FCPA), 2004
  • Visiting Scholar, UCLA, USA, 2002
  • Vice-Dean (Academic Affairs, Finance, Admin), NUS Business School, 1999 - 2001
  • Visiting Scholar, Cornell University, USA, 2001
  • Senior Lecturer, National University of Singapore, 1991 - 1998
  • Visiting Scholar, Swiss Institute of Banking & Finance, University of St. Gallen, Switzerland, 1998
  • Lecturer, National University of Singapore, 1988 - 1991
  • Senior Tutor, National University of Singapore, 1983 - 1988

Corporate Experience

  • Instructor, Accounting & Finance for Non-Financial Managers Program, 2002 - current
  • Finance Director, The Tabernacle Church and Missions Ltd, 1978 - current
  • Director, Asia Centre for Social Entrepreneurship and Philanthropy, 2011
  • Fellow, Institute of Certified Public Accountants, (FCPA), 2004
  • Associate Editor, , The Review of Financial Markets (Journal), 1996 - 1999
  • Program Director and Instructor, Accounting & Finance for Non-Financial Managers Program, National University of Singapore, 1993 - 1999
  • Instructor, NUS Executive Development Program, Financial Management Program, 1989 - 1998
  • Chartered Financial Analyst, CFA, 1995
  • Instructor, NUS Mandarin Executive Development Program-Central Banking & Financial Markets, 1994 - 1995
  • Associate Editor, Asia Pacific Journal of Management, 1990 - 1995
  • Certified Public Accountant, CPA, 1990
  • Assistant Manager, Raffles City (Pte) Ltd, 1980 - 1983
  • Assistant Treasurer, DBS Bank, 1977 - 1980
  • Consultant, The Hong Leong Group of Companies, Malaysia
  • Consultant, Maybank, Singapore
  • Consultant, Overseas Union Bank, Singapore
  • Consultant, Deutsche Bank, Singapore
  • Consultant, Temasek Foundation Partnership on Entrepreneurship for Sustainable Development in the Philippines
  • Consultant, United Overseas Bank (UOB), Singapore
  • Consultant, Government of Singapore Investment Corporation (GIC), Singapore
  • Consultant, Citibank National Association (NA), Singapore
  • Consultant, UBS AG, Hong Kong
  • Consultant, UBS AG, Singapore

Selected Publications

Lam, Swee Sum, Zhang, Weina, Achsah X. Ang and Gabriel H. Jacob (2019), "Reciprocity between Financial and Social Performance in Microfinance Institutions", Public Performance & Management Review , (forthcoming)
Lam, Swee Sum, Tao Li and Zhang, Weina (2019), "Unveil the Economic Impact of Policy Reversals: the China Experience", China Finance Review International, (forthcoming)
Lam, Swee Sum, Zhang Huiping and Zhang, Weina (2019), "Does Policy Instability Matter for International Equity Markets?", International Review of Finance, (forthcoming)
Lam, Swee Sum, Zhang, Weina and Christopher Chieh (2018), "Corporate Social Responsibility and Institutional Voids", 1, 1-21, Firm Value, InTech (Open Resources)
Lam, Swee Sum, Ang, A. X. and Zhang, W. (2017), "The Intertemporal Reciprocity Relations of Social and Financial Performance in Social Enterprises: Evidence from MFIs", 2017 ARNOVA-Asia Conference at Renmin University of China, Beijing

Research Impact

Selected Publications

16

Journals

2

Books

3

Conference

7

Papers

6

Others

Journal Articles

Lam, Swee Sum, Zhang, Weina, Achsah X. Ang and Gabriel H. Jacob (2019), "Reciprocity between Financial and Social Performance in Microfinance Institutions", Public Performance & Management Review , (forthcoming)
Lam, Swee Sum, Tao Li and Zhang, Weina (2019), "Unveil the Economic Impact of Policy Reversals: the China Experience", China Finance Review International, (forthcoming)
Lam, Swee Sum, Zhang Huiping and Zhang, Weina (2019), "Does Policy Instability Matter for International Equity Markets?", International Review of Finance, (forthcoming)
Lam, Swee Sum, Zhang, Weina and Gabriel Jacob (2015), "The Mispricing of Socially Ambiguous Grey Stocks", Finance Research Letters, 13, 81-89
Lam, Swee Sum and Zhang, Weina (2015), "The Moderating Effect of Bureaucratic Quality on the Pricing of Policy Instability", China Finance Review International, vol 5(3), 303-334
R.R.C. Lee, Lam, Swee Sum and Weina Zhang (2013), "The Norm Theory of Capital Structure: International Evidence", International Review of Finance, 13(1), 111-135
Lam, Swee Sum, Zhang, Weina and Reginald R. C. Lee (2013), "The Norm Theory of Capital Structure: International Evidence", International Review of Finance, 13, 1, 111-135
Lam, Swee Sum, Ruth Tan Seow-Kuan and Glenn Wee Tsao-Min (2007), "Initial Public Offerings of State-Owned Enterprises: An International Study of Policy Risk", Journal of Financial and Quantitative Analysis, Volume 42, Issue 02 , 313-337
Lam, Swee Sum and Bey-Fen Chng (2006), "Do executive stock option grants have value implications for firm performance?", Review of Quantitative Finance and Accounting, 26(3), 249-274
Lam, Swee Sum and William Wee-Lian Ang (2006), "Globalization and Stock Market Returns", Global Economy Journal, 6(1), 1-16
Lam, Swee Sum and Jing Du (2004), "Information asymmetry and estimation risk: Preliminary evidence from Chinese equity markets", Pacific-Basin Finance Journal, 12, 311-331
Lam, Swee Sum and Winnie Yap (1998), "Pricing system and the initial public offerings market: A case study", International Review of Economics and Finance, 7(3), 297-313
Lam, Swee Sum (1997), "Control versus firm value: The impact of restrictions on foreign share ownership", Financial Management, 26(1), 48-61
Lam, Swee Sum and Hoe-Soon Pak (1993), "A note on capital market segmentation: New tests and evidence", Pacific-Basin Finance Journal, 1(3), 263-276
Lam, Swee Sum (1992), "Information risk and initial public offerings: An empirical investigation", Applied Financial Economics, 2, 93-98
Lam, Swee Sum (1991), "Venture Capital Financing: A Conceptual Framework", Journal of Business Finance & Accounting , 18(2), 137-149

Books/Monographs

Lam, Swee Sum, Zhang, Weina and Christopher Chieh (2018), "Corporate Social Responsibility and Institutional Voids", 1, 1-21, Firm Value, InTech (Open Resources)
Lam, Swee Sum, Pauline Tan and Roshini Prakash (2013), "What is a Social Enterprise? Do you have a Social Enterprise? Historical and Current Standards", Singapore: Law Society of Singapore, in legaleSE A Legal Handbook for Social Enterprise

Conference/Seminars

Lam, Swee Sum, Ang, A. X. and Zhang, W. (2017), "The Intertemporal Reciprocity Relations of Social and Financial Performance in Social Enterprises: Evidence from MFIs", 2017 ARNOVA-Asia Conference at Renmin University of China, Beijing
Lam, Swee Sum, Marilyn Ang Uy, Gabriel Henry Henry Jacob, Tony Antonio and Johan Hasan (2017), "Entrepreneurial passion heterogeneity and new venture team performance trajectory", Academy of Management Proceedings, Vol. 2017, No. 1, 2017 Annual Meeting of the Academy of Management, AOM 2017
Lam, Swee Sum, Yew Kee Ho and K.S. Low (2008), "Are Earnings Surprises Related to Earnings Restatements?", Vernon Zimmerman Best Paper Award, 20th Asia Pacific Conference on International Accounting Issues

Working Papers

Lam, Swee Sum and Weina Zhang (2014), "Does Policy Uncertainty Matter for International Equity Markets? 9th INFINITI Conference on International Finance 2011 (accepted), CICF 2012, Revise & Resubmit, 2014"
Lam, Swee Sum (2014), "Social Enterprise: Moving Away from Definitions to Meanings"
Lam, Swee Sum and Gabriel H. Jacob (2013), "Can Philanthropy be Learnt? Intergenerational Effects of Philanthropy"
Lam, Swee Sum, Weina Zhang and Tao Li (2013), "The Economics of Policymaking: Theory and Evidence in the Dynamics of Interest Rates, CICF 2013"
Lam, Swee Sum, Gabriel H. Jacob and A. Toh (2012), "Socially Responsible Investment Styles: Equity Risk, Return and Valuation"
Lam, Swee Sum and Weina Zhang (2012), "The Pricing of Policy Instability in Financial Assets: The China Experience"
Lam, Swee Sum and Weina Zhang (2012), "The Moderating Effect of Bureaucratic Quality on the Pricing of Policy Instability, The Federal Reserve Board of Governors Brown Bag 2010; Australian National University Finance Summer Camp 2010, CICF 2011, World Banking & Finance Symposium 2012"

Others

Lam, Swee Sum, Ang, A. X. and Jacob, G. H. (2017), "Lien Foundation: Philanthropy for Social Innovation", Teaching Case with Teaching Note
Lam, Swee Sum and Zhang, Weina (2016), "Overview of the Charity Sector in Singapore", Overview of the Charity Sector in Singapore
Lam, Swee Sum and Zhang, Weina (2016), "A Pilot Study on Singapore's Social Enterprises: Characteristics and Performance", A Pilot Study on Singapore's Social Enterprises: Characteristics and Performance
Lam, Swee Sum and Gabriel H. Jacob (2013), "Media Development Loan Fund (B): Venture Philanthropy Cycle", Teaching Case with Teaching Note
Lam, Swee Sum and Gabriel H. Jacob (2012), "Media Development Loan Fund (A): Venture Philanthropy for Independent Media", Teaching Case with Teaching Note
Lam, Swee Sum and Gabriel H. Jacob (2011), "PinoyME Foundation: Scaling up the Philippines Microfinance Sector", Teaching Case with Teaching Note

Research / Teaching Areas

Measuring Success In Philanthropy And Impact Investing

Venture Philanthropy And Impact Investing

Investment Analysis

Corporate Finance

Private Equity And Venture Capital

Portfolio Management

Asset Pricing

Privatization And Initial Public Offerings

Restrictions On Foreign Share Ownership

Corporate Governance And Executive Stock Options

Venture Capital

Policy Risk

Social Finance

Courses

  • FIN4117 , Measuring Success in Philanthropy and Impact Investing
  • FIN4112G, Seminars in Finance: Private Equity
  • Private Equity, Private Equity
  • Investment Analysis and Portfolio Management, Investment Analysis and Portfolio Management
  • Investment Banking, Investment Banking
  • Corporate Finance, Corporate Finance
  • Fundamentals of Derivative Analysis, Fundamentals of Derivative Analysis
  • Fundamentals of Portfolio Management, Fundamentals of Portfolio Management

Membership & Professional Activities

  • Fellow, Institute of Singapore Chartered Accountants
  • Associate Editor, Asia Pacific Journal of Management, 1990-1995
  • Associate Editor, The Review of Financial Markets, 1996-1999
  • Finance Director, The Tabernacle Church and Missions Ltd, 1978 to date
  • Standard Setter, Grader and Trainer, CFA Institute, U.S.A.
  • Member, Coutts Million Dollar Donors Report Global Advisory Council, 2012-2013
  • Member, Income Tax Board of Review, 2014-2017
  • Vice Chairman, NUS Extension Academic Advisory Board, 2008-2010
  • Member, The Singapore Society of Financial Analysts
  • Member, American Finance Association, U.S.A
  • Member, Singapore National Committee for Pacific Economic Co-operation Council for Financial Markets Development, 1996-1997
  • Member, Yeung Ching Foundation, Singapore
  • Vice-Chairman, Investment Committee, Ferrell Asset Management Pte Ltd, Singapore
  • Member, Board of Management, NUS Academic Staff Provident Fund, 2000 - 2007
  • Member, NUS Investment Committee, 2000-2006
  • Member, Program Committee, 1997 FMA Annual Meetings, Hawaii, October 15-18, 1997
  • Member, Board of Trustees, CFA Institute Research Foundation, U.S.A.,2009-2012
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