The response of the external finance premium in Asian corporate bond markets to financial characteristics, financial constraints and two financial crises

Empirical investigation of the external finance premium has been conducted on the margin between internal finance and bank borrowing or equities but little attention has been given to corporate bonds, especially for the emerging Asian market. In this paper, we hypothesize that balance sheet indicators of creditworthiness could affect the external finance premium for bonds as they do for premia in other markets. Using bond-specific and firm-specific data for China, Hong Kong, Indonesia, Korea, Philippines, Singapore and Thailand during 1995-2009 we find that firms with better financial health face lower external finance premia in all countries. When we introduce firm-level heterogeneity, we show that financial variables appear to be both statistically and quantitatively more important for financially constrained firms. Finally, when we examine the effects of the 1997-98 Asian crisis and the 2007-09 global financial crisis, we find that the sensitivity of the premium is greater for constrained firms during the Asian crisis compared to other times.

Policy initiatives and firms’ access to external finance: Evidence from a panel of emerging Asian economies

This paper analyses the impact of policy initiatives co-ordinated by Asian national governments on firms' access to external finance, using a unique firm-level database of eight Asian countries- Hong Kong SAR, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand over the period of 1996-2012. Using a difference-indifferences approach and controlling for firm-level and macroeconomic factors, the results show a significant impact of policy on firms' access to external finance. After splitting firms into constrained and unconstrained, using several criteria, the results document that unconstrained firms benefited significantly in obtaining external finance, compared to their constrained counterparts. Finally, we show that the increase in access to external finance after the policy initiative helped firms to raise their investment spending, especially for unconstrained firms.

African migrants in Asian and European football: hopes and realities

This paper analyses the integration of Africa in the global labour market of football through the study of players' migrations to Asia and Europe. The presence of African footballers in the latter continent is analysed via a statistical survey carried out in September and October 2008 on a sample of 456 top division clubs in 30 European countries. The article emphasizes that the aspirations placed on football by male African youth, as a means of upward social mobility, are often too high when compared to the harsh realities of a transfer market based on commercial logics, which each year push many footballers away from the professional game.

RFLP clusters of Mycobacterium tuberculosis strains from the Indian Ocean Region: local and South Asian characteristics

This is the first study describing the genetic polymorphism of Mycobacterium tuberculosis strains in the Indian Ocean Region. Using IS6110 RFLP analysis, 475 M. tuberculosis isolates from Madagascar, Comoros, Mauritius, Mozambique and La Reunion were compared. Of the 332 IS6110 profiles found, 43 were shared by clusters containing 2-65 strains. Six clusters were common to at least two countries. Of 52 families of strains with similar IS6110 profiles, 10 were common to at least two countries. Interestingly, another characteristic was the frequency (16.8%) of IS6110 single-copy strains. These strains could be distinguished using the DR marker. This preliminary evaluation suggests genetic similarity between the strains of the Indian Ocean Region. However, additional markers would be useful for epidemiological studies and to assess the ancient transmission of strains between countries of this region.

Paleoparasitological report on Ascaris aDNA from an ancient East Asian sample

In this study, Ascaris DNA was extracted and sequenced from a medieval archaeological sample in Korea. While Ascaris eggs were confirmed to be of human origin by archaeological evidence, it was not possible to pinpoint the exact species due to close genetic relationships among them. Despite this shortcoming, this is the first Ascaris ancient DNA (aDNA) report from a medieval Asian country and thus will expand the scope of Ascaris aDNA research.

Influence of environmental conditions on the distribution of Central Asian green toads with three ploidy levels.

We studied the distribution of Palearctic green toads (Bufo viridis subgroup), an anuran species group with three ploidy levels, inhabiting the Central Asian Amudarya River drainage. Various approaches (one-way, multivariate, components variance analyses and maximum entropy modelling) were used to estimate the effect of altitude, precipitation, temperature and land vegetation covers on the distribution of toads. It is usually assumed that polyploid species occur in regions with harsher climatic conditions (higher latitudes, elevations, etc.), but for the green toads complex, we revealed a more intricate situation. The diploid species (Bufo shaartusiensis and Bufo turanensis) inhabit the arid lowlands (from 44 to 789 m a.s.l.), while tetraploid Bufo pewzowi were recorded in mountainous regions (340-3492 m a.s.l.) with usually lower temperatures and higher precipitation rates than in the region inhabited by diploid species. The triploid species Bufo baturae was found in the Pamirs (Tajikistan) at the highest altitudes (2503-3859 m a.s.l.) under the harshest climatic conditions.

Investigation into the Department of Natural Resources' Investigation of Asian Markets in Polk County, August 2004

Investigative report produced by Iowa Citizens' Aide/Ombudsman

The Outlook for Asian Dairy Markets: The Role of Demographics, Income, and Prices, June 2005

The paper first presents a 10-year outlook for major Asian dairy markets (China, India, Indonesia, Japan, South Korea, Malaysia, the Philippines, Thailand, and Vietnam) based on a world dairy model. Then, using Heien and Wessells’s technique, dairy product consumption growth is decomposed into contributions generated by income growth, population growth, price change, and urbanization and these contributions are quantified. Using the world dairy model, the paper also analyzes the impacts of alternative assumptions of higher income levels and technology development in Asia on Asian dairy consumptions and world dairy prices. The outlook projects that Asian dairy consumption will continue to grow strongly in the next decade. The consumption decomposition suggests that the growth would be mostly driven by income and population growth and, as a result, would raise world dairy prices. The simulation results show that technology improvement in Asian countries would dampen world dairy prices and meanwhile boost domestic dairy consumption.

Australian Asian options

We study European options on the ratio of the stock price to its averageand viceversa. Some of these options are traded in the Australian StockExchange since 1992, thus we call them Australian Asian options. Forgeometric averages, we obtain closed-form expressions for option prices.For arithmetic means, we use dierent approximations that produce verysimilar results.

Division & Commission on the Status of Iowans of Asian and Pacific Islander HeritagePerformance Plan, FY 2009

Agency Performance Plan, Division & Commission on the Status of Iowans of Asian and Pacific Islander Heritage

Division & Commission on the Status of Iowans of Asian and Pacific Islander Heritage Performance Plan, FY 2009

Agency Performance Plan, Division & Commission on the Status of Iowans of Asian and Pacific Islander Heritage

Commission and Division on the Status of Iowans of Asian and Pacific Islander Heritage 2007-2010 Strategic Plan, 2007

This report outlines the strategic plan for Commission and Division on the Status of Iowans of Asian and Pacific Islander Heritage (CAPI) 2007-2010 Strategic Plan including,goals and mission.

Development and cross-amplification of thirty microsatellite loci in five diploid and polyploid Central Asian species of Palearctic green toads (Bufo viridis subgroup)

We report 30 polymorphic microsatellite markers for five species of Palearctic green toads (Bufo viridis subgroup): 23 in the diploid B. latastii, 19 in diploid B. turanensis, 20 in diploid B. shaartusiensis, 27 in tetraploid B. pewzowi, and 30 in triploid B. baturae. Genetic diversity at these loci, measured for 10-18 individuals per species, ranged from 2 to 19 alleles. These microsatellite loci will be useful for conservation plans (genetic diversity, population structure, evolutionary units), inheritance patterns, and evolution of green toads.

Commission on the Status of Iowans of Asian & Pacific Islander Heritage (CAPI), Spring 2009

We are pleased to present the 2009 Spring Newsletter summarizing programs and achievements from this past year. Although many challenges lie ahead as this deepening financial crisis takes its toll, CAPI remains steadfast in its commitment to serve the needs of all Asian and Pacific Islanders of Iowa. Thank you for your continued support! We look forward to having another productive year!

Commission on the Status of Iowans of Asian & Pacific Islander Heritage (CAPI), Spring 2008

In the Spring of 2004, the Iowa legislature passed the bill to establish the Commission on the Status of Iowans of Asian and Pacific Islander Heritage (CAPI) within the Department of Human Rights. Nine (9) commissioners were appointed by the Governor in October. In August 2006, the first division administrator was appointed; thus the Division was established. The duties of the Commission, as established in Iowa Code Chapter 216A.152, define the work of the Division. Vision: All Asian and Pacific Islander Iowans live up to their potential, regardless of ethnicity, station in life, and religion. Mission: To ensure Iowa’s Asians and Pacific Islanders have opportunities equal to other Iowans in education, employment, health care, housing, and safety and to publicize the accomplishments and contributions of the Asian and Pacific Islanders to the state.