On performance persistence in emerging markets: Empirical evidence from Asia-Pacific

The purpose of this study is to investigate the performance persistence of international mutual funds, employing a data sample which includes 2,168 European mutual funds investing in Asia-Pacific region; Japan excluded. Also, a number of performance measures is tested and compared, and especially, this study tries to find out whether iterative Bayesian procedure can be used to provide more accurate predictions on future performance. Finally, this study examines whether the cross-section of mutual fund returns can be explained with simple accounting variables and market risk. To exclude the effect of the Asian currency crisis in 1997, the studied time period includes years from 1999 to 2007. The overall results showed significant performance persistence for repeating winners when performance was tested with contingency tables. Also the annualized alpha spreads between the top and bottom portfolios were more than ten percent at their highest. Nevertheless, the results do not confirm the improved prediction accuracy of the Bayesian alphas.

Asia-Pacific: a new agenda for the times ahead

The rapid growth of the populous Asian economies provokes profound economic changes and a shift in the balance of power. On the economic front, Asian leaders are confronted with the need to preserve the stability that has underpinned their prosperity, maintain an environment conducive to trade and investments and encourage domestic consumption while avoiding ecological disasters. Internationally, business competition will intensify with the strong presence of Asian manufacturers in global supply chains, growing price competition from Asian firms in domestic markets and global competition for energy, food, minerals and other commodities. Geopolitical concerns stem, in part, from Asia’s global quest for critical resources, conflicting territorial and maritime disputes and increasing military expenditures which affect security dynamics. China’s assertiveness over its periphery prompts an arm’s race in the region and concerns about Sino-American relations even though U.S.-Chinese relations may be less risky than China’s relations with its neighbours. The United States remains a key player in the Asia-Pacific region, with the capacity to alter balances and affect outcomes. Globally, the United States capacity to lead is now diminished and will continue to be so for the foreseeable future. Since no rising power is capable of exercising global leadership, a return to the "old normal" where no one power in geopolitical or economic terms dominates the world is to be expected.

Opportunities for trade and investment between Latin America and Asia-Pacific: the link with APEC

Includes bibliography

Characteristics and comprehensiveness of adult HIV care and treatment programmes in Asia-Pacific, sub-Saharan Africa and the Americas: results of a site assessment conducted by the International epidemiologic Databases to Evaluate AIDS (IeDEA) Collaboration

INTRODUCTION HIV care and treatment programmes worldwide are transforming as they push to deliver universal access to essential prevention, care and treatment services to persons living with HIV and their communities. The characteristics and capacity of these HIV programmes affect patient outcomes and quality of care. Despite the importance of ensuring optimal outcomes, few studies have addressed the capacity of HIV programmes to deliver comprehensive care. We sought to describe such capacity in HIV programmes in seven regions worldwide. METHODS Staff from 128 sites in 41 countries participating in the International epidemiologic Databases to Evaluate AIDS completed a site survey from 2009 to 2010, including sites in the Asia-Pacific region (n=20), Latin America and the Caribbean (n=7), North America (n=7), Central Africa (n=12), East Africa (n=51), Southern Africa (n=16) and West Africa (n=15). We computed a measure of the comprehensiveness of care based on seven World Health Organization-recommended essential HIV services. RESULTS Most sites reported serving urban (61%; region range (rr): 33-100%) and both adult and paediatric populations (77%; rr: 29-96%). Only 45% of HIV clinics that reported treating children had paediatricians on staff. As for the seven essential services, survey respondents reported that CD4+ cell count testing was available to all but one site, while tuberculosis (TB) screening and community outreach services were available in 80 and 72%, respectively. The remaining four essential services - nutritional support (82%), combination antiretroviral therapy adherence support (88%), prevention of mother-to-child transmission (PMTCT) (94%) and other prevention and clinical management services (97%) - were uniformly available. Approximately half (46%) of sites reported offering all seven services. Newer sites and sites in settings with low rankings on the UN Human Development Index (HDI), especially those in the President's Emergency Plan for AIDS Relief focus countries, tended to offer a more comprehensive array of essential services. HIV care programme characteristics and comprehensiveness varied according to the number of years the site had been in operation and the HDI of the site setting, with more recently established clinics in low-HDI settings reporting a more comprehensive array of available services. Survey respondents frequently identified contact tracing of patients, patient outreach, nutritional counselling, onsite viral load testing, universal TB screening and the provision of isoniazid preventive therapy as unavailable services. CONCLUSIONS This study serves as a baseline for on-going monitoring of the evolution of care delivery over time and lays the groundwork for evaluating HIV treatment outcomes in relation to site capacity for comprehensive care.

Globesity: Food marketing to children in Asia-Pacific A systematic review

Food advertising and promotion to children has been identified as one possible contributing factor to the childhood obesity pandemic. Food marketing to children in "western" society consists mainly of foods that are high in fat, sugar and salt (HFSS), such as pre-sugared breakfast cereals; sugar sweetened beverages (SSBs); confectionary; savory snacks; and fast food. Of these heavily marketed items consumption of, SSBs, savory snacks and fast foods have been found to contribute to the childhood obesity pandemic. A systematic review was conducted to determine what types of products are being promoted and what types of techniques food marketers are using to promote these foods throughout the Asia-Pacific region. The review of current literature, while not abundant, clearly showed marketing styles and content similar to those in western countries were being employed in the Asia-Pacific. Advertisements in this geographic region often took on a local flair to make them more identifiable to children and adolescents in their respective regions and countries, due to the numerous cultural and traditional differences. Children in these developing parts of the world may be just as, if not more, susceptible to these advertising techniques than their counterparts in the west.^

Managing human resources in Asia-Pacific

Given the enormous economic and developmental changes being experienced by nations in the Asia-Pacific region, and the related movement of people between and across countries, it is critical that we better understand the HRM policies and practices of these nations. The latest instalment in the Global HRM series, Managing Human Resources in Asia-Pacific (2E) presents the HRM situations in a number of South-East Asian and Pacific Rim countries, highlighting the growth of the personnel and HR function, the dominant HRM system(s) in the area, the influence of different factors on HRM, and the challenges faced by HR functions in these nations. This edition extends its coverage to Cambodia, Fiji, Indonesia, and the Philippines; a new chapter discusses HR research challenges in the region, such as the transferability of western constructs, problems with data collection, and the emergence of MNEs from Asia Pacific. © 2014 Taylor & Francis.

Economic and trade relations between Latin America and Asia Pacific: The link with China

Includes bibliography

Open regionalism in Asia Pacific and Latin America: a survey of the literature

Includes bibliography

Trade and investment promotion between Asia-Pacific and Latin America: present position and future prospects

Includes bibliography

Convergence-divergence of HRM in the Asia-Pacific:context-specific analysis and future research agenda

In this article, we highlight the significance and need for conducting context-specific human resource management (HRM) research, by focusing on four critical themes. First, we discuss the need to analyze the convergence-divergence debate on HRM in Asia-Pacific. Next, we present an integrated framework, which would be very useful for conducting cross-national HRM research designed to focus on the key determinants of the dominant national HRM systems in the region. Following this, we discuss the critical challenges facing the HRM function in Asia-Pacific. Finally, we present an agenda for future research by presenting a series of research themes.