Achieving the millennium development goals in the Asia-Pacific region : the role of international assistance

The Millennium Development Goals (MDGs) are a set of international development targets agreed to by members of the United Nations in 2000. The goals aim to improve many of the dimensions of extreme poverty and are to be achieved by 2015. This paper provides an overview of the issues relevant to the achievement of the MDGs in the Asia-Pacific region. The paper begins by discussing the critiques of the MDGs before assessing whether countries in the region are on track to achieve them. Issues relating to data availability and accuracy are discussed and the need to tailor the MDG targets to the special circumstances of some Asia-Pacific countries is examined. The paper proceeds by discussing the role of international assistance via international foreign development aid and non-governmental organisations in the achievement of the MDGs. The paper concludes with some policy implications for the international donor community.

Conducting event studies with Asia-Pacific security market data

We investigate the effectiveness of several well-known parametric and non-parametric event study test statistics with security price data from the major Asia-Pacific security markets. Extensive Monte Carlo simulation experiments with actual daily security returns data reveal that the parametric test statistics are prone to misspecification with Asia-Pacific returns data. Two non-parametric tests, a rank test [Corrado and Zivney (Corrado, C.J., Zivney, T.L., 1992, The specification and power of the sign test in event study hypothesis tests using daily stock returns, Journal of Financial and Quantitative Analysis 27(3), 465-478)] and a sign test [Cowan (Cowan, A.R., 1992, Non-parametric event study tests, Review of Quantitative Finance and Accounting 1(4), 343–358)] were the best performers overall with market model excess returns computed using an equal weight index.

Internal audit - an Asia-Pacific profile and the level of compliance with internal auditing standards

Purpose – The purpose of this paper is to provide an overview of the profile of internal audit in five Asia-Pacific countries and investigate the usage and compliance with the Institute of Internal Auditors (IIA) International Standards for the Professional Practices of Internal Auditing (Standards) by organizations' internal audit activities (IAAs). This paper shows the differences between Australia, China, Japan, New Zealand and Taiwan. It also discusses part of the results of the Common Body of Knowledge 2006 global study conducted by the IIA.

Design/methodology/approach – The paper reports the results of a questionnaire survey sent to the global membership of the IIA in September 2006 on various aspects of internal audit practices.

Findings – The profile of internal audit differs amongst the countries with much older organizations exist in Australia, Japan and New Zealand. Respondents in New Zealand, Japan, Chinese Taiwan, China and Australia all report to have a reasonably high level of usage of Standards. However, Australia has the highest number of respondents who report that they are in full compliance of the Standards.

Originality/value – This is the first global study of internal auditors' compliance with the IIA Standards.

New ways to educate Asia-Pacific entrepreneurs

Asia-Pacific countries have huge numbers of young entrepreneurs. Yet the state of entrepreneurship education in this region has yet to come to grips with their needs. Elsewhere in the world, the growth and development in the curricula, textbooks, Websites and degree programs devoted to raising the level of enterprise and new venture creation has been remarkable.

The researcher undertook field study to examine best-practice models of enterprise education. He then carried out a content analysis of leading entrepreneurship textbooks to examine their applicability to the Asia-Pacific circumstance. Working with Thomson Learning Australia, he acquired the rights to re-write one leading textbook and entirely “asianised” it. He also produced a highly interactive Website to attract Internetnet savvy young entrepreneurs and students in the countries of the Asia-Pacific region.

The paper offers generalization that may prove helpful to educationalists and government policy planners about how to increase the supply of young people who launch their own businesses and social enterprises. The goal of this paper is to help universities in our region move toward launching entrepreneurship education in a relevant and interesting way.