The temporal price relationship between the stock index futures and the underlying stock index : evidence from Malaysia

The stock index futures was introduced in Malaysia in December 1995 with the launching of the futures contract on the Kuala Lumpur Stock Exchange Composite Index. Due to its recentness in the country, many issues pertaining to this equity derivatives instrument have not been explored. Thus, the development of stock index futures opens many opportunities for research in this area. This study examines the temporal relationship between the price of the Kuala Lumpur Stock Exchange Composite Index futures contract (FKLI) and its underlying stock index, the Kuala Lumpur Stock Exchange Composite Index (KLSE CI). The five-year period under study is split into three subperiods to observe the price co-movement pattern under different volatility levels. The study finds that futures market tends to lead the spot market by one day during the periods of stable market, and there is a mixed lead-lag relationship between the two markets during the period of highly volatile market.

Nursing care of clients treated with atypical antipsychotics who have a risk of developing metabolic instability and/or type 2 diabetes

Objective : The aim of this article is to present a current discussion related to the nursing care of clients treated with atypical antipsychotic medicines and who have a risk of developing metabolic instability and/or Type 2 diabetes. The importance of such a discussion is to provide both the novice and the experienced nurse with additional knowledge of this current health issue with which to inform their nursing practice.

Discussion : The potential for psychosis to be a chronic condition is very high, and often people require antipsychotic medicine for lengthy periods throughout their lives. Sometimes, treatment is for life. The second generation of antipsychotic medicines was greeted with much enthusiasm since it was better tolerated than the first generation. However, each medication has desired and adverse effects and, when taken for lengthy periods, these effects may produce physical illness. Studies show that the prevalence of Type 2 diabetes and the metabolic syndrome was significantly higher in clients with a chronic psychiatric disorder, particularly schizophrenia.

Conclusions : Metabolic instability, especially weight gain, is associated with some psychotropic medicines. Nursing interventions need to include care assessment, planning, intervention, and evaluation for clients treated with antipsychotic medicines in terms of risk minimization strategies in routine nursing care.

The transformation of development strategy in Korea : a 'risk society' perspective

After undergoing rapid socio-economic and political transformation, the Republic of Korea has arrived at the stage of development which Beck refers to as a risk society. Korea has experienced both sides of the risks which accompany modernity: the wealth associated with an advanced economy and also the hazards which are by-products of industrial society. However the Korean case is distinctive, this article argues, due to the state’s role in calibrating and managing risk. Whereas prior to the financial crisis of 1997–98 state elites privileged big business and exposed workers to higher levels of risk, calculations of the costs and benefits of risk have changed since the financial crisis. A notable outcome has been the straining of traditionally close ties between the state and the chaebŏl.

Underpricing, risk management, hot issue and crowding out effects : evidence from the Australian resources sector initial public offerings

The main purpose of this paper is to explore the role of risk management, speculative industry competition effect and hot issue markets. We used a sample of 260 initial public offerings (IPOs) in the Australian resource sector for the 1994–2004 period to test the underpricing effect. We do not find any evidence that risk management can reduce the uncertainty relating to the new issue and hence alleviate the extent of underpricing. A plausible explanation for this lack of evidence is the poor information content of publicly available disclosures regarding risk management activities of IPO firms. We further provide evidence that the underpricing returns for resources IPOs are not impacted upon by the strength of alternative speculative IPO markets. We also show that the degree of underpricing adjusts to both market return in the preceding three months and the average underpricing of resources IPOs in the 12 month period leading to the float which offers an explanation to the hot issue effect observed in the IPO market.

A critical analysis of techniques for risk mitigation in the construction industry

Risks exist in every form of construction project. The risks associated with construction projects are often diverse and varied and the management of these risks is nowadays considered compulsory in order to achieve project success. This paper analyses the diverse strategies of risk mitigation that have been employed in construction projects. These strategies are classified into analysed categories of procurement strategies. contingency and co-operative approach along with the utilisation of a designated risk manager. The analysis showed that in order to improve risk mitigation within the construction industry, there is a requirement tor an industry based standard. This standard will improve the efficiency and effectiveness of the risk mitigation response technique to risk management.