Exchange rate sensitivity of Australian international equity funds

This paper analyses the exchange rate exposure displayed by a sample of Australian international equity trusts (IET). Exchange rate exposure is also examined in the context of differing economic climates with particular emphasis on the Asian crisis in mid-1997. It is found that there is evidence of exchange rate exposure particularly in the context of a multiple exchange rate model. Exposure varies substantially between three alternative time periods with different exposure apparent subsequent to the Asian crisis than prior to this event.

Predicting the HER2 status of breast cancer from basic histopathology data: an analysis of 1500 breast cancers as part of the HER2000 International Study

The tests that are currently available for the measurement of overexpression of the human epidermal growth factor-2 (HER2) in breast cancer have shown considerable problems in accuracy and interlaboratory reproducibility. Although these problems are partly alleviated by the use of validated, standardised 'kits', there may be considerable cost involved in their use. Prior to testing it may therefore be an advantage to be able to predict from basic pathology data whether a cancer is likely to overexpress HER2. In this study, we have correlated pathology features of cancers with the frequency of HER2 overexpression assessed by immunohistochemistry (IHC) using HercepTest (Dako). In addition, fluorescence in situ hybridisation (FISH) has been used to re-test the equivocal cancers and interobserver variation in assessing HER2 overexpression has been examined by a slide circulation scheme. Of the 1536 cancers, 1144 (74.5%) did not overexpress HER2. Unequivocal overexpression (3+ by IHC) was seen in 186 cancers (12%) and an equivocal result (2+ by IHC) was seen in 206 cancers (13%). Of the 156 IHC 3+ cancers for which complete data was available, 149 (95.5%) were ductal NST and 152 (97%) were histological grade 2 or 3. Only 1 of 124 infiltrating lobular carcinomas (0.8%) showed HER2 overexpression. None of the 49 'special types' of carcinoma showed HER2 overexpression. Re-testing by FISH of a proportion of the IHC 2+ cancers showed that only 25 (23%) of those assessable exhibited HER2 gene amplification, but 46 of the 47 IHC 3+ cancers (98%) were confirmed as showing gene amplification. Circulating slides for the assessment of HER2 score showed a moderate level of agreement between pathologists (kappa 0.4). As a result of this study we would advocate consideration of a triage approach to HER-2 testing. Infiltrating lobular and special types of carcinoma may not need to be routinely tested at presentation nor may grade 1 NST carcinomas in which only 1.4% have been shown to overexpress HER2. Testing of these carcinomas may be performed when HER2 status is required to assist in therapeutic or other clinical/prognostic decision-making. The highest yield of HER2 overexpressing carcinomas is seen in the grade 3 NST subgroup in which 24% are positive by IHC. (C) 2003 Elsevier Science Ltd. All rights reserved.

Development of a more efficient classifying cyclone

A more efficient classifying cyclone (CC) for fine particle classification has been developed in recent years at the JKMRC. The novel CC, known as the JKCC, has modified profiles of the cyclone body, vortex finder, and spigot when compared to conventional hydrocyclones. The novel design increases the centrifugal force inside the cyclone and mitigates the short circuiting flow that exists in all current cyclones. It also decreases the probability of particle contamination in the place near the cyclone spigot. Consequently the cyclone efficiency is improved while the unit maintains a simple structure. An international patent has been granted for this novel cyclone design. In the first development stage-a feasibility study-a 100 mm JKCC was tested and compared with two 100 min commercial units. Very encouraging results were achieved, indicating good potential for the novel design. In the second development stage-a scale-up stage-the JKCC was scaled up to 200 mm in diameter, and its geometry was optimized through numerous tests. The performance of the JKCC was compared with a 150 nun commercial unit and exhibited sharper separation, finer separation size, and lower flow ratios. The JKCC is now being scaled up into a fill-size (480 mm) hydrocyclone in the third development stage-an industrial study. The 480 mm diameter unit will be tested in an Australian coal preparation plant, and directly compared with a commercial CC operating under the same conditions. Classifying cyclone performance for fine coal could be further improved if the unit is installed in an inclined position. The study using the 200 mm JKCC has revealed that sharpness of separation improved and the flow ratio to underflow was decreased by 43% as the cyclone inclination was varied from the vertical position (0degrees) to the horizontal position (90degrees). The separation size was not affected, although the feed rate was slightly decreased. To ensure self-emptying upon shutdown, it is recommended that the JKCC be installed at an inclination of 75-80degrees. At this angle the cyclone performance is very similar to that at a horizontal position. Similar findings have been derived from the testing of a conventional hydrocyclone. This may be of benefit to operations that require improved performance from their classifying cyclones in terms of sharpness of separation and flow ratio, while tolerating slightly reduced feed rate.

Experimental study of phase equilibria in the PbO-ZnO-"Fe2O3"-(CaO+SiO2) system in air for the lead and zinc blast furnace sinters (CaO/SiO2 weight ratio of 0.933 and PbO/(CaO+SiO2) ratios of 2.0 and 3.2)

Experimental studies on phase equilibria and liquidus in the multicomponent system PbO-ZnO-CaO-SiO2-FeO-Fe2O3 in air have been conducted over the temperature range between 1323 K (1050 degreesC) and 1623 K (1350 degreesC) to characterize the phase relations of the complex slag systems encountered in lead and zinc blast furnace sinters. The liquidus in two pseudoternary sections ZnO-Fe2O3-(PbO + CaO + SiO2) with the CaO/SiO2 weight ratio of 0.933 and PbO/(CaO + SiO2) weight ratios of 2.0 and 3.2 have been constructed.

An international perspective on sunken state vessels as underwater cultural heritage

On 2 November 2001, the General Assembly of the United Nations Scientific, Economic and Cultural Organisation (UNESCO) adopted the convention on the Protection of the Underwater Cultural Heritage. Among the many complex issues addressed in the convention is the legal status of sunken state-owned vessels, including warships. Prior to the adoption of this convention, no conventional or customary international law existed with regards to the question of abandonment of state-owned vessels or the application of the principle of sovereign immunity to sunken state vessels. While difficulties between coastal states and maritime and former colonial powers resulted in a regime that does not comprehensively address the issues, the convention does provide some guidance in this regard and may provide a basis for further development.

The validity of publication and citation counts for Sociology and other selected disciplines

The use of bibliometric data is a means of comparing. research productivity and scholarly. impact for individuals, work groups, institutions and nations within and between disciplines. Central to this debate is the notion that disciplines differ in the ways in which,they exchange ideas and disseminate information and therefore have diverse publishing and citation patterns. In this article we use two different approaches to compiling bibliometric data to compare publishing patterns of five different disciplines that encompass Molecular Biology; Administration/Political Science, Psychology,. Philosophy and Sociology/Anthropology. We find that the social sciences differ from each other as well as from the physical sciences in their publication and citation patterns. Further, while the different ways of organizing the data produce somewhat different results, the substantive findings for the general patterning of publications and citations of disciplines are consistent for both data sets. Sociology/Anthropology, when compared with the other disciplines, shows substantial differences across universities.

The over-production of US sports and the new International Division of Cultural Labor

This article focuses on how US professional sports utilize the New International Division of Cultural Labor to supplement an overly costly local labor pool and over-supplied local market. We argue that while the classic problem of over-production is slowly eroding the sealed-off nature of US culture, the forces of its hyper-protectionist capitalism continue to characterize sports, precluding equal exchange.

A comparison of model laws as a starting point for the development of an enforceable international consumer protection regime

This article is concerned primarily with an examination and comparison of select aspects of the model international consumer protection laws proposed by the United Nations (UN), the European Union (EU), and the Organisation for Economic Co-operation and Development (OECD), using the Trade Practices Act 1974 (Australia) as a basis for examination and comparison. As a secondary consideration, it also broadly examines the content of, and differences between, the model laws. The motive for this article is that any future enforceable international consumer protection regime (possibly in the form of an international treaty or convention) would need to take into account the UN, EU and OECD guidelines. A cross-comparison of those model laws, and a comparison of them with the consumer protection provisions of a well established national consumer protection law, should provide a useful starting point for the development of such a regime. The 'select aspects' of the model laws in question are the various provisions of those laws which could relate to situations involving the wrong delivery or non-delivery of goods.