The performance of diversified emerging market equity funds

We investigate the performance of globally diversified emerging market equity funds during the first decade of the twenty-first century. A vast majority of these funds do not outperform the market benchmark even before transaction costs. The systematic risk of most of the funds is similar to that of the market benchmark portfolio, which may suggest that they aim to offer diversification benefits rather than seeking superior risk-adjusted returns through active management. We do not find any evidence of market timing ability amongst these funds. Finally, whilst we detect persistence in performance, this result is driven mainly by the poorly performing funds.

Hospital care in Iran : an examination of national health system performance

This study examines hospital care system performance in Iran. We first briefly review hospital care delivery system in Iran. Then, the hospital care system in Iran has been investigated from financial, utilization, and quality perspectives. In particular, we examined the extent to which health care system in Iran protects people from the financial consequence of health care expenses and whether inpatient care distributed according to need. We also empirically analyzed the quality of hospital care in Iran using patient satisfaction information collected in a national health service survey. The Iranian health care system consists of unequal access to hospital care; mismatch between the distribution of services and inpatients' need; and high probability of financial catastrophe due to out-of-pocket payments for inpatient services. Our analysis indicates that the quality of hospital care among Iranian provinces favors patients residing in provinces with high numbers of hospital beds per capita such as Esfahan and Yazd. Patients living in provinces with low levels of accessibility to hospital care (e.g. Gilan, Kermanshah, Hamadan, Chahar Mahall and Bakhtiari, Khuzestan, and Sistan and Baluchestan) receive lower-quality services. These findings suggest that policymakers in Iran should work on several fronts including utilization, financing, and service quality to improve hospital care.

Young drivers' perceptions of road safety messages and a high performance vehicle advertisement : a qualitative exploration

While road safety messages that focus on physical threats have shown some effectiveness, messages that include social threats and gains/rewards may be an alternative approach to encourage safer driving behaviours. In addition to message frame and type, motor vehicle advertising exposure may also influence the persuasiveness of road safety messages. Using qualitative methods this preliminary study explored young drivers’ (N = 17, 11 males) perceptions of the persuasiveness of four anti-speeding messages and a fictional high performance vehicle advertisement. The majority of males perceived the social loss/gain-framed messages to be more persuasive (sense of responsibility and personal relevance themes), whereas females tended to perceive the physical loss/ gain-frame messages (social esteem theme) to be more persuasive. Males appeared to be, while females appeared not to be, persuaded by the vehicle advertisement. The findings suggest that a range of road safety messages may be required to reach and influence young drivers.

Model refinement through high-performance computing: an agent-based HIV example

Background Recent advances in Immunology highlighted the importance of local properties on the overall progression of HIV infection. In particular, the gastrointestinal tract is seen as a key area during early infection, and the massive cell depletion associated with it may influence subsequent disease progression. This motivated the development of a large-scale agent-based model. Results Lymph nodes are explicitly implemented, and considerations on parallel computing permit large simulations and the inclusion of local features. The results obtained show that GI tract inclusion in the model leads to an accelerated disease progression, during both the early stages and the long-term evolution, compared to a theoretical, uniform model. Conclusions These results confirm the potential of treatment policies currently under investigation, which focus on this region. They also highlight the potential of this modelling framework, incorporating both agent-based and network-based components, in the context of complex systems where scaling-up alone does not result in models providing additional insights.

Agent-based modelling of viral infection

The three phases of the macroscopic evolution of the HIV infection are well known, but it is still difficult to understand how the cellular-level interactions come together to create this characteristic pattern and, in particular, why there are such differences in individual responses. An 'agent-based' approach is chosen as a means of inferring high-level behaviour from a small set of interaction rules at the cellular level. Here the emphasis is on cell mobility and viral mutations.

High-performance computing for data analytics

One of the main challenges in data analytics is that discovering structures and patterns in complex datasets is a computer-intensive task. Recent advances in high-performance computing provide part of the solution. Multicore systems are now more affordable and more accessible. In this paper, we investigate how this can be used to develop more advanced methods for data analytics. We focus on two specific areas: model-driven analysis and data mining using optimisation techniques.

Performance evaluation of cloud-based parallel computing

As computational models in fields such as medicine and engineering get more refined, resource requirements are increased. In a first instance, these needs have been satisfied using parallel computing and HPC clusters. However, such systems are often costly and lack flexibility. HPC users are therefore tempted to move to elastic HPC using cloud services. One difficulty in making this transition is that HPC and cloud systems are different, and performance may vary. The purpose of this study is to evaluate cloud services as a means to minimise both cost and computation time for large-scale simulations, and to identify which system properties have the most significant impact on performance. Our simulation results show that, while the performance of Virtual CPU (VCPU) is satisfactory, network throughput may lead to difficulties.

Evaluation of the performance of a dengue outbreak detection tool for China

An outbreak detection and response system, using time series moving percentile method based on historical data, in China has been used for identifying dengue fever outbreaks since 2008. For dengue fever outbreaks reported from 2009 to 2012, this system achieved a sensitivity of 100%, a specificity of 99.8% and a median time to detection of 3 days, which indicated that the system was a useful decision tool for dengue fever control and risk-management programs in China.

Sub-genomic RNA of defective interfering (D.I.) dengue viral particles is replicated in the same manner as full length genomes

The predicted secondary structure of sub-genomic RNA in dengue virus defective interfering (D.I.) particles from patients, or generated in vitro, resembled that of the 3′ and 5′ regions of wild type dengue virus (DENV) genomes. While these structures in the sub-genomic RNA were found to be essential for its replication, their nucleotide sequences were not, so long as any new sequences maintained wild type RNA secondary structure. These observations suggested that these sub-genomic fragments of RNA from dengue viruses were replicated in the same manner as the full length genomes of their wild type, “helper”, viruses and that they probably represent the smallest fragments of DENV RNA that can be replicated during a natural infection. While D.I. particles containing sub-genomic RNA are completely parasitic, the relationship between wild type and D.I. DENV may be symbiotic, with the D.I. particles enhancing the transmission of infectious DENV.

The performance advantages for SMEs of product innovation and marketing resource–capability complementarity in emerging economies

This study argues that small and medium-sized enterprises (SMEs) must possess both resources and capabilities at a superior level, and those resources and capabilities must be complementary with one another to achieve superior financial performance. The resources and capabilities of interest are product innovation and marketing. Using data from manufacturing SMEs, the results suggest that product innovation resource–capability complementarity, marketing resource–capability complementarity, and their interaction are positively related to financial performance through product innovation and customer performance. The findings suggest that some SMEs may outperform others not only because they possess a specific individual resource–capability complementarity but also because they create synergy and asset interconnectedness.

"Rebirth: Combined art performance"--Shirin Madg & Sweet Sound Ensemble

Vanessa Mafe-Keane was invited to participate as choreographer in Iranian singer Shirin Madg 's project, Rebirth: Combined art performance. This project integrated singing, music, visual-art, film, dance and is based on the dissident poetry of female Iranian poet, Forough Farrokhzad. The choreographic dance movement focused on simple, lyrical, flowing classical dance forms that also incorporated everyday gestures and actions performed by two Queensland dancers, Caitlin MacKenzie and Abby Johnson. The choreographic intention was not to attempt to re-create Iranian dance practices instead, to draw inspiration and reference specific movement qualities. This was achieved through the subtle inclusion of spinning movements and focusing attention on the dancers’ arms and upper torso. This fusion became an underlying theme reflected throughout the choreographic component. Additionally, this project presented an opportunity to draw on past experiences and problem-solve ways to construct choreographic work where the dancers and the musical assemble group could be staged side by side. This experience highlighted differing approaches to rehearsal protocols within disciplines, the practicalities of staging different artists, understanding musical cues and the diversity of audience engagement. Performances: BEMAC Multicultural Centre, Brisbane 06 February 2015 and Helensvale Cultural Centre, Gold Coast 07 February 2015

Examining the new product innovation – performance relationship: Optimizing the role of individual-level creativity and attention-to-detail

New product innovation has been identified as the key to firms' marketplace success, profit and survival. Yet, the failure rate for new products is high. Because of the high costs associated with new product development, there is considerable theoretical and managerial interest in how to minimize the high failure rates of new products and what separates new product winners from losers. This study focuses on individual level ambidexterity – namely head of the R&D departments' capacity to engage in creativity and attention-to-detail simultaneously, a skill involving different centers of attention, and relying on somewhat incompatible behaviors and processes. The ability to engage in these behaviors simultaneously is seen as being ambidextrous. Drawing from the data of 150 advanced manufacturing firms in India (gathered from one CEO and one head of the R&D department for each firm), the results show that when an individual head of R&D engages heavily only in creativity, too many new, risky ideas may come and when he/she engages heavily only in attention-to-detail, he/she may suffer through a lack of novel ideas. Both approaches limit individual's contribution to enhancing product innovation – financial performance relationship. The results also show that an individual head of R&D needs to engage in high levels creativity and attention-to-detail in the pursuit of enhancing product innovation to achieve superior financial performance.

The innovation imperative: The relationships between team climate, innovation, and performance in research and development teams

A team’s climate for innovation has been shown to be important for innovation in management and work teams. This article investigates the relationship of team climate with project team innovation and performance in research and development organizations. It is argued that the relationship between team climate and innovation will be stronger for research teams than development teams as research teams have greater scope for creating novel and innovative ideas. A sample of 193 scientists and technologists in 20 research teams and 18 development teams were measured on their team’s climate for innovation, team performance, and six indicators of innovation. Research and development teams showed similar ratings for team climate and for measures of innovation. However, the relationships between team climate and individual and team innovation were stronger for research teams than development teams. These findings are significant for fostering innovativeness and innovation in knowledge work teams.