The foreign exchange exposure of Chinese banks

Using the capital market approach and the equity price data of 14 listed Chinese banks, this empirical study finds that there is a positive relationship between bank size and foreign exchange exposure. This relationship may reflect the larger foreign exchange operations and trading positions of larger Chinese banks and their significant indirect foreign exchange exposure arising from impacts of the renminbi exchange rate movements on their customers. Empirical evidence also suggests that the average foreign exchange exposures of state-owned and joint-stock commercial banks in China are higher than those of banks in Hong Kong, notwithstanding their limited participation in international banking businesses compared with their Hong Kong counterparts. It is also found that negative foreign exchange exposure is prevalent for larger Chinese banks, suggesting that an appreciation of the renminbi tends to reduce their equity value. It is therefore likely that the banking sector's performance will be hampered. Together with the fact that decreases in equity values generally imply a higher default risk, the effects of different scenarios of renminbi appreciation on the default risk of Chinese banks should therefore be closely monitored.postprin

Community-based service for the frail elderly in China

This study of community-based social services for the frail elderly in China shows that as China turns into an ageing society and the capacity of the family support for the frail elderly is rapidly declining, there is an urgent need to develop formal social services to support elderly persons continuing to live in their community. This article provides a general background on the structure of the emergent community services. Using the example of a city in China, the operation of the community services for the elderly is illustrated The strengths and limitations of community services are discussed.postprin

Direct observation of voids in the vacancy excess region of ion bombarded silicon

The results reported in this letter indicate that the spatial separation of the vacancy and interstitial excesses which result from ion bombardment gives rise to stable voids upon annealing at 850 °C even for implants where the projected ion range is only of the order of a few thousand Ångstrom. Such voids have been observed directly by transmission electron microscopy. Furthermore, in cases where both voids and interstitial-based defects are present at different depths, it is found that Au has a strong preference for decorating void surfaces and hence Au can, indeed, be used as a selective detector of open volume defects in Si.One of the authors ~J.W.-L.! acknowledges the Australian Research Council for financial support

The Asia Pacific literature review on internal auditing

Purpose &ndash; By conducting the 2006 global Common Body of Knowledge (CBOK) study, The Institute of Internal Auditors (IIA) attempts to better understand the expanding scope of internal auditing practice throughout the world. The purpose of this review of recent internal auditing literature in Asia Pacific is to document how the internal audit function is changing in response to the shifts in global business practices.Design/methodology/approach &ndash; The literature in Asia Pacific is reviewed with a focus on developments that have implications for the expanded scope of internal auditing and the changing skill sets of internal auditors. This focus has implications for CBOK 2006.Findings &ndash; The literature indicates a paradigm shift in the activities performed by internal auditors. The increasing complexity of business transactions, a more dynamic regulatory environment in Asia Pacific, and significant advances in information technology have resulted in opportunities and challenges for internal auditors. Although in 2004, The IIA responded to the changing organizational environment by updating the professional practices framework, more work needs to be done to prepare internal auditors for the expanded set of skills and knowledge required to perform audits of the future.Originality/value &ndash; By presenting an overview of past literature in Asia Pacific and discussing the shifting demands on internal audit services, the researchers hope to motivate further research in the field.<br /

Nanoindentation-induced deformation of Ge

The deformation mechanisms of crystalline (100) Ge were studied using nanoindentation, cross sectional transmission electron microscopy (XTEM) and Raman microspectroscopy. For a wide range of indentation conditions using both spherical and pointed indenters, multiple discontinuities were found in the force–displacement curves on loading, but no discontinuities were found on unloading. Raman microspectroscopy, measured from samples which had plastically deformed on loading, showed a spectrum shift from that in pristine Ge, suggesting only residual strain. No evidence (such as extra Raman bands) was found to suggest that any pressure-induced phase transformations had occurred, despite the fact that the material had undergone severe plastic deformation.Selected area diffraction pattern studies of the mechanically damaged regions also confirmed the absence of additional phases. Moreover, XTEM showed that, at low loads, plastic deformation occurs by twinning and dislocation motion. This indicates that the hardness of Gemeasured by indentation is not primarily dominated by phase transformation, rather by the nucleation and propagation of twin bands and/or dislocations

Electric field assisted annealing and formation of prominent deep-level defect in ion-implanted n-type 4H-SiC

High-purity and low-doped n -type epitaxial layers of 4H-SiC have been implanted with N and C ions by using energies in the MeV range and doses from 2×10⁸to1×10⁹cm⁻² . Postimplant annealing was performed at 1100°C prior to sample analysis by deep-level transient spectroscopy (DLTS). A drastic and irreversible instability of the prominent EH7 deep-level defect occurs during the first DLTS temperature scan because of the electric field applied during the measurements. Depending on the implanted species, EH7 can decrease (N implants) as well as increase (C implants) in strength and the effect is attributed to charge-state controlled annealing and formation processes of EH7. The origin of EH7 is discussed and the experimental data support a model invoking interstitial C atoms.The authors thank the Australian Research Council and Norwegian Research Council

Thoracoscopic operations in children

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Selectivity of nanocavities and dislocations for gettering of Cu and Fe in silicon

The selectivity of interstitial-based extended defects (loops) and nanocavities for the gettering of Cu and Fe in Si has been studied. Controlled amounts of Cu and Fe were introduced by ion implantation into wafers containing pre-existing nanocavities and/or dislocations. Results show that Cu has a strong preference for gettering to open volume defects, even when high concentrations of interstitial-based loops are present in close proximity. However, the gettering of Fe in samples containing both vacancy- and interstitial-type defects is more complex, with Fe accumulation at all regions in the sample which contain defects, whether they are vacancy- or interstitial-like in character

Effect of ion mass on the evolution of extended defects during annealing of MeV ion-implanted p-type Si

Evolution of extended defects during annealing of MeV ion-implanted p-type Si has been characterized using deep level transient spectroscopy and transmission electron microscopy. The p-type Si was implanted with Si, Ge, and Sn ions with varying energies and doses from 5×10¹² to 1×10¹⁴ cm⁻² then annealed at 800 °C for 15 min. For all implanted species, the critical dose for transformation from point to extended defects has been determined. The type of extended defects formed depends upon the mass of the implanted species even though the dose was adjusted to create a similar damage distribution for all implanted species.Australian Research Council supported J. W. L

Effect of crystal orientation on the implant profile of 60 keV Al into 4H-SiC crystals

The effect of crystal orientation on the implant profile of 60 keV Al into 4H-SiC crystals was analyzed. The [112̄0] channel was found to exhibit the deepest channeling with a maximum penetration depth 45 times greater than the projected range of the ranThe authors acknowledge the STINT ~Swedish Foundation for international cooperation in research and higher education! program and Australian Research Council for support under the Discovery grant and fellowship program