Exploring the increasing role of the real estate sector in the Chinese economy : 1997-2002

The Chinese government launched a series of real estate reform policies in 1998, which further changed the real estate sector from socialist plan-oriented to modern marketoriented. This paper compares the role of the real estate sector in the Chinese economy in years 1997 and 2002 by using the recently published input-output OECD database. Results verify that the Chinese real estate sector played an increasing role in the Chinese economy with higher contributions and stronger push and pull power in 2002 than those in 1997. However, compared with other countries, especially for some OECD countries, the Chinese real estate sector has a relative lower contribution.

A backward glance of who and what marketing scholars have been researching 1977-2002

Despite the diversity of all those involved within the marketing discipline, all have a stake in maximizing the advancement of marketing knowledge. Without a specific analysis it is difficult to reflect on where a field has been or where it might be heading. The purpose of this chapter is to examine who and what marketing scholars have been researching over the period 1977–2002 using content analysis. This chapter provides longitudinal benchmarking of the ‘‘inputs’’ (authors and institutions) and ‘‘outputs’’ (articles) examining the marketing literature in the four major marketing journals: the Journal of Marketing, the Journal of Marketing Research, the Journal of Consumer Research, and the Journal of the Academy of Marketing Science.

"Minerals", "petroleum" and "operations" in the Mineral and Petroleum Resources Development Act 28 of 2002 : a geologist as devil's advocate for a change? "

This article examines the meaning of "minerals", petroleum, "operations" and activities in relation to such substances to determine the ambit of the application of the Minerals and Petroleum Resources Development Act 28 of 2002, the type of rights necessary for such operations and activities and the ambit of these rights. The examination of the meaning of these concepts takes place with reference to prior definitions in statutes and also from a natural science and geology perspective. An attempt is made to show that the legal definitions do no always correspond with the geological meanings and the meanings on the ground. It is questioned whether in recent legislation why more reliance is not placed on input from geologists in the field.

Artikel 3(1) en (2) van die Mineral and Petroleum Resources Development Act 28 van 2002: 'n herbeskouing

Sections 3(1) and 3(2) of the Mineral and Petroleum Resources Development Act 28 of 2002
This contribution entails a discussion of the impact of section 3 of the Mineral and Petroleum Resources Development Act on various aspects of the new mineral and petroleum law. At the core of the discussion is the question of how this section is interpreted by various commentators, and the implications of the different opinions on the application of the section. The initial discussion highlights problems with the new definition of a "mineral": Soil, including topsoil is at present included in die definition of a "mineral" in the act. The definition should be rectified by the legislature as it has far-reaching consequences in respect of the extent of the state's power in terms of section 3(2) of the act to grant entitlements in respect of minerals, including topsoil. The implications of section 3 for the control and management of minerals are discussed and placed in the context of the question about the constitutionality of the act. It is argued that legislative guidance is urgently needed to clarify continuing uncertainty, caused by sloppy drafting and different opinions about the connection between private law and public law in relation to minerals and the actual position of existing right holders.

Prevalence, awareness, treatment, and control of hypertension in China data from the China National Nutrition and Health Survey 2002

Background— The present article aims to provide accurate estimates of the prevalence, awareness, treatment, and control of hypertension in adults in China.

Methods and Results— Data were obtained from sphygmomanometer measurements and an administered questionnaire from 141 892 Chinese adults 18 years of age who participated in the 2002 China National Nutrition and Health Survey. In 2002, 153 million Chinese adults were hypertensive. The prevalence was higher among men than women (20% versus 17%; P<0.001) and was higher in successive age groups. Overall, the prevalence of hypertension was higher in urban compared with rural areas in men (23% versus 18%; P<0.01) and women (18% versus 16%; P<0.001). Of the 24% affected individuals who were aware of their condition, 78% were treated and 19% were adequately controlled. Despite evidence to suggest improved levels of treatment in individuals with hypertension over the past decade, compared with estimates from 1991, the ratio of controlled to treated hypertension has remained largely unchanged at 1:4.

Conclusions— One in 6 Chinese adults is hypertensive, but only one quarter are aware of their condition. Despite increased rates of blood pressure–lowering treatment, few have their hypertension effectively controlled. National hypertension programs must focus on improving awareness in the wider community, as well as treatment and control, to prevent many tens of thousands of cardiovascular-related deaths.

Regulatory and enabling approaches to corporate law enforcement : patterns of litigation 1986-2002 and the effect of recent reforms in New Zealand, Australia and the United Kingdom

Enforcement of corporate rights and duties may follow either a ‘regulatory’ or ‘enabling’ model. If a regulatory approach is taken, enforcement action will generally be undertaken by regulatory agencies such as, in New Zealand, the Registrar of Companies and Securities Commission, the Australian Securities and Investments Commission (ASIC) or the Department of Trade and Industry (DTI) in the United Kingdom. If an enabling approach is chosen, enforcement action will more often be by private parties such as company shareholders, directors or creditors. When New Zealand's company law was reformed in 1993, a primarily private enforcement regime was adopted, consisting of a list of statutory directors' duties and an enhanced collection of shareholder remedies, based in part upon North American models and including a statutory derivative action. Public enforcement was largely confined to administrative matters and the enforcement of the disclosure requirements of New Zealand's securities law. While the previous enforcement regime was similarly reliant on private action, the law on directors' duties was less accessible, and shareholder action was hindered by the majority rule principle and the rule in Foss v Harbottle. This approach is in contrast with that used in Australia and the United Kingdom, where public agencies have a much more prominent enforcement role despite recent and proposed reforms to directors' duties and shareholder remedies. These reforms are designed to improve the ability of private parties to enforce corporate rights and duties. A survey of enforcement litigation in New Zealand since 1986 indicates that the object of a primarily enabling enforcement regime seems to have been achieved, and may well have been achieved even without the 1993 reform package. Private enforcement has, in fact, been much more prevalent than public enforcement since well before the enactment of the new legislation. Most enforcement action both before and after the reform was commenced by shareholders and shareholder/directors, and most involved closely held companies. Public enforcement was largely undertaken in areas such as securities law, where the wider public interest was affected. Similar surveys of Australian and United Kingdom enforcement litigation reveal a proportionally much greater reliance on public bodies to enforce corporate rights and duties, indicating a more regulatory approach. The ASIC and DTI enforced a wider range of provisions, affecting both closely and widely held companies, than those subject to public enforcement in New Zealand. Publicly enforced provisions in Australia and the United Kingdom include directors' duties and provisions dealing with disqualification from managing companies, as well as securities law requirements.

Institution building problems in East Timor, 1999-2002

Institution building in East Timor from 1999 to 2002 was undermined by numerous ineffective practices. These ineffective practices were partly due to international organizations' conflicting priorities, including donors' preference for short program timelines, some individuals' preference for "the easy path", and UNTAET'S preoccupation with maintaining security and administering the territory.

The underpricing of A-REIT IPOs in Australia during 2002 to 2008

This study analyses 45 Australian Real Estate Investment Trust (A-REIT) initial public offerings (IPOs) in Australia from January 2002 to June 2008, since the introduction of the single responsible entity to oversee the activities of listed property trusts (LPTs) Rather than the trustee and manager roles. The study finds that this sample of A-REIT IPOs had a significant 3.37% underpricing and that the direct costs of capital raising help explain this indirect cost of underpricing. There is some evidence to suggest that A-REIT IPOs that seek to raise more equity capital have less underpricing, while those that are subscribed to more quickly have higher underpricing. The findings offer insights for issuers who seek to maximize the value of the A-REIT at the time of the IPO, underwriters who guarantee the success of the capital raising and for investors who are looking to invest in Australian A-RE1T 1POs.