Social and Behavioral Sciences Commons^™

A New Incarnation : Prism : Theory And Modern Chinese Literature, Zongqi Cai

Journal of Modern Literature in Chinese 現代中文文學學報

After twenty-two years of publishing since 1997, Journal of Modern Literature in Chinese (JMLC) will assume a new incarnation in 2019: Prism: Theory and Modern Chinese Literature, a biannual peer-reviewed journal published by Duke University Press for Lingnan University of Hong Kong. This journal is jointly sponsored by the Centre for Humanities Research and the Chinese Department of Lingnan University and the Forum on Chinese Poetic Culture at the University of Illinois, Urbana-Champaign.

The Role Of Islamic Finance In Economic Development, Nora Khan

Lingnan Journal of Banking, Finance and Economics

Islamic financial institutions have been growing rapidly in the past few years. Islamic finance refers to investments that are permissible in accordance with Sharia, the Islamic law. Sharia law views money as a measuring tool for value and not an “asset” itself. “It does not permit receipt and payment of riba(interest), gharar(excessive uncertainty), maysir(gambling), short sales or financing activities that it considers harmful to society” (IMF website). Interest, a form of income from money, is therefore prohibited. For example, the income obtained from banks must come from the gain or loss of the enterprises they underwrite and not from interest …

Fdi And Manufacturing Industry In Asia, Luyi Jin

Lingnan Journal of Banking, Finance and Economics

The study finds that China’s manufacturing still maintained a growth level from 2003 to 2013. However, the growth has been declining. The rapid development of ASEAN economies led to the rise of the emerging manufacturing countries which have slowly adjusted and found their own advantages in challenging China.

The main conclusions of this paper are twofold. First, China will soon lose her low labor cost competitive advantage and needs to look for new strategy or industrial upgrades. Second, the current pattern of international division of labor will last for a fairly long period that developing countries will continue to serve …

Portfolio Recallocation And Exchange Rate Dynamics, King Chun Wong

Lingnan Journal of Banking, Finance and Economics

This empirical paper aims to review a previous literature entitles “Portfolio Reallocation and Exchange Rate Dynamics”. The literature stated that including financial market structure can provide a micro-foundation to complement other macro-based models for exchange rate dynamics which typically are meaningful for the medium and long terms but not satisfactory for the short run. The model in the literature offers another way to look at exchange rate dynamics that is significant in the short run and more practical in nature. Undoubtedly, many investors in the financial market, such as traders, dealers, fund managers, and speculators who adjust their portfolio components …

How Do Cdos And Cdss Influence The Crisis Of 2008, Martin Buffet

Lingnan Journal of Banking, Finance and Economics

Everybody has heard about the “subprime” crisis but do we really know how it occurred and why this phenomenon had such an impact on our economies. One aspect of the answer to this question lies in the trade of credit default swaps (CDSs). These financial products led to less transparency in the markets and to a very collectively vulnerable financial system. This created a vicious circle that had not been anticipated by our financial regulators. In this paper, we will discuss how it occurred and what could have been done to avoid, or at lease reduce, the impact of these …

The Study Of Enhanced Performance Measurement Of Mutual Funds In Asia Pacific Market, Juzhen Li

Lingnan Journal of Banking, Finance and Economics

This empirical paper will compare the result by running Costa and Jakob's models (2010) using mutual funds in Asia Pacific market excluding Japan. Costa and Jakob's paper, Enhanced Performance Measurement of Mutual Funds: Running the Benchmark Index through the Hurdles, is highly related to this empirical paper and is generally based on Carhart's four-factor model (Carhart, 1997) with US securities market data. Apart from the comparison between Asia Pacific market excluding Japan and US market, further research on auxiliary and heteroscedasticity will also be conducted.

Ipo Markets In Asia Financial Centers : How The Different Ipo Locations Affect Firms’ Stock Prices, Yuanzhen Jiang

Lingnan Journal of Banking, Finance and Economics

For most of non-listed corporations when they are confronting the issues of cutting capital cost, to increase the base of their investors, to develop the firm business quicker, or even to diversify the pool of investors, one of the most important alternatives that the executives and shareholders of these corporations may think is to do IPO (Initial Public Offering); which could be done in the domestic or in the foreign IPO markets. This paper firstly introduces the situation and differences among different IPO markets in Asia major financial centers that includes Mainland China, Hong Kong and Singapore. Then it will …

Should Hong Kong Maintain A Linked Exchange Rate System?, Hoi Yin Tsoi

Lingnan Journal of Banking, Finance and Economics

The linked exchange rate was implemented in 1983. This paper finds that over these 32 years, this system did bring lots of benefits to Hong Kong. Nevertheless, as Hong Kong is a vastly different place now relative to what it was 32 years ago, the costs for the adoption of the link outweigh the benefits so this system is no longer suitable for Hong Kong. It is suggested that in order to serve the best interest of Hong Kong, it should not maintain the linked exchange rate system and should switch to the managed floating exchange rate system.

Empirical Study : Shanghai-Hong Kong Stock Connection Sign Of Efficiency Improvement?, Ming Cheung Fok

Lingnan Journal of Banking, Finance and Economics

Stock market connection encourages local corporations cross-listing in overseas stock markets which will, theoretically, enhance the information flow between countries and the stock market efficiency. In view of a closed economy like China and a free economy like Hong Kong, the announcement of Shanghai-Hong Kong stock connection program seems to be a great opportunity for testing the well-known Efficiency Market Hypothesis (EMH). Employing Capital Asset Pricing Model (CAPM) and the random walk model suggested by previous studies, this paper will present the comparison of market performance before and after the connection as evidences for the hypothesis testing.

An Empirical Analysis Of Factors Influencing China's Real Estate Prices-Based On The Var Model, Pan Xiao

Lingnan Journal of Banking, Finance and Economics

The real estate industry has an increasingly significant position in our national economy. It is important for real estate investment and national macro-control to analyze the main factors that affect its prices, in order to predict its future movements. In this paper, the dynamic econometric analysis method was used to analyze these macroeconomic factors that influence the real state prices on a empirical research. And the results show that the expected prices of real estate, money supply, real estate development investment and household income are the dominant factors influencing them.

Factors In The Returns On Stock : Inspiration From Fama And French Asset Pricing Model, Yuanzhen Jiang

Lingnan Journal of Banking, Finance and Economics

Under the inspiration of Fama and French asset pricing model, this paper mainly studies the relationship between the month return of A shares and the factors that may have an effect on the stocks’ month return. It also compares the differences in the reaction of all shares and GEM board shares to these factors. It is important to highlight that these factors include the market, firm size, earnings and book-to-market information. The data used in this project comes from the quarterly data of China stock market from March of 2000 to December of 2011 and was used in panel model …

Recent Development

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

No abstract provided.

最新動向

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

No abstract provided.

Lifelong Learning To Help Both You And Me : Ms. Tong Kit-Ha's Sharing For Awarded Outstanding Third Age Citizen, Kit Ha Tong, Man Yin, Emily Chan

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

23 April 2015 is a particularly exciting and memorable day for eleven retired people, as they were selected by HK Electric and Kong Kong Council of Social Service (HKCSS) to be the Outstanding Third Age Citizens 2015 for their positive and optimistic life attitudes. Having a passion for volunteerism and lifelong learning, Ms. Tong Kit-ha, "a toy-packaging worker who pursued tertiary studies after retirement and graduated with merits, better than many younger students", was elected as one of the Outstanding Third Age Citizens. We are honorable to have Ms. Tong sharing with our readers her third-age life experience as well …

Highlights

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

This article summaries activities co-organised or joined by APIAS, including the Elder Academy High Table Dinner, the "Life and Death Education" Sharing Session cum Public Lecture, the Elder Academy Athletics Meet 2014: Intergenerational Harmony Fitness, the Seminar cum Press Release on the Mode of Development for Elderly Services: Developing New Services for Elderly with International Standards, and the "Hong Kong Women Development Index" Press Conference.

The High Street For Elderly : Visiting Japanese Silver Hair Market, Pak Hang, Eric Tang

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

The arising elderly group is slowing transforming our society, bringing both challenges and opportunities simultaneously. There is a new form of economy targeted the elderly consumers.

Optional Retirement : Experiences In Asia-Pacific Region To Solve Hr Challenges, Ting Cao

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

With population ageing and socio-economic development under way, reform of the retirement system has become one of the hottest topics around the globe. Traditionally, retirement is often referred to stoppage of labour and the eligibility to receive the accrued pension. From the perspective of social gerontology, retirement has at least two functions in an industrial society based on waged labours: 1) to recognise and reward employees’ past efforts, and 2) to remove older workers from the system to create more job opportunities for their younger counterparts. However, changes in the work patterns as well as the structural reform of the …

Financial Preparation And Needs Of Older People, Ting Cao

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

When people enter the later phase of their lives, they are prone to have more uncertainties and face unique financial challenges in life. According to a report in 2014 from the Financial Consumer Agency of Canada (FCAC), there are roughly 10 money-related life events or changes in one’s later life, namely: 1. planning for retirement; 2. changing housing needs; 3. starting another career; 4. coping with illness or disability; 5. converting savings into ongoing income; 6. losing partner; 7. dealing with attempted fraud or financial abuse; 8. caring for spouse or other family members; 9. travelling, and 10. making estate …

From Fear Of Death To Management Of Life : Inspirations From The Life And Death Education, Man Yin, Emily Chan

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

Talking about "death" has always been a taboo for most traditionally-minded Chinese. Even though people understand that nobody could escape from death, they rather want to have a discussion on one's "life" instead. However, does not bringing "death" up the table mean that this topic is unimportant and hence negligible?

Retirement Planning : Money Matters, Wai Sun, Derek Chun, Wai Yee, Annie Ng

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

Retirement denotes a cut off from monetary income generated from employment, a change of lifestyle, and the emergence of specific healthcare and social needs. A comprehensive retirement plan could be a more feasible approach for pre-retirees and retirees to cope with challenges brought by retirement.

Ageing-In-Place : Home Enhancement To Give Elderly A "Dream Home", Man Yin, Emily Chan

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

Everyone has their own definition of "dream home", but there is always something in common - comfort and safety. Seniors prefer to stay in their own house for as long as possible, yet the inevitable decline of their physical functionality in the process of ageing has rendered some to rely on wheelchairs, canes and other aids. The original interior design might pose threats to them, making the house unsuitable for them.

In view of this service gap, collaborated with the Institute of Surveyors Building Surveying Cooperation, the Hong Kong Housing Society launched the "Elderly Safe Living Scheme" to enhance public …

Do You Know What I Want? : Revisiting Women Development Needs, Man Yin, Emily Chan, Wenyu, Angel Gao

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

Population Ageing continues to intensify in Hong Kong while the "Feminisation" of elderly population has become a prominent trend. Since an elderly's quality of life is closely related to his/her life-course experience, Asia-Pacific Institute of Ageing Studies of Lingnan University (APIAS) accepted the Hong Kong Women Development Association's commission to develop the Women Development Index, so as to enable earlier intervention to improve women's later lives.

From Curing Patients To Healing Society : The Honourable Dr. Edward Che-Hung Leong, Chun Kiu, Tony Lai, Wing Chung, David Chan

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

Dr. Edward Che-hung Leong, GBM, GBS, OBE, JP, a private medical practitioner specialised in urology, was born into a medical family. Leong is well-known to most Hong Kong people for his surgery skills. He has been praised as the "Golden Surgeon Leong" (金刀梁). He is also named the "Master of Public Office" (公職王). Since 1988, he has been a Legislative Councilor representing the Medical Functional Constituency, as well as many other public service roles of the Government and quangos, including Chairmanship of the Elderly Commission, in which his works were highly appraised. For years Doctor Leung has enthusiastically engaged in …

Must I Retire? : Optional Retirement As A Solution To Ageing Workforce, Wai Yee, Annie Ng, Wai Sun, Derek Chun, Chun Yin, Edwin Fok

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

Like many developed societies, Hong Kong is suffering from a rapid ageing population, especially when taking into account the imminent retirement tide of the baby-boomers. According to the Census and Statistics Department, the proportion of the ageing population is projected to rise sharply from 13% in 2011 to 30% in 2041, making Hong Kong a "Hyper-aged Society."

Since most organisations require their older employees to leave the workforce when these employees are reaching retirement age, the experienced, skillful, and still able-to-work manpower will be completely wasted, which severely lower the city's productivity due to a shrinking labour force. In addition, …

持續學習，助己助人 : 傑出第三龄人士湯潔霞女士分享, Kit Ha Tong, Man Yin, Emily Chan

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

對11位退休人士來說，2015年4月23日是一個尤其令人振奮和值得紀念的大日子。皆因他們當日於香港電燈有限公司 (港燈) 與香港社會服務聯會 (社聯) 合辦的第四屆「傑出第三齡人士選舉2015」中獲獎，其努力向上、積極樂觀的態度與表現得到社會的肯定。

「從事玩具包裝，退休後終身學習，大學圓夢，更勝莘莘學子」為大會對其中一位傑出第三齡人士得獎者湯潔霞女士的描述。湯女士對終身學習以至服務社會都充滿熱誠，我們很高興可邀請她向本通訊之讀者分享她的第三齡生活和得獎感受。

活動剪影

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

活動剪影概括了亞太老 年學研究中心近期合辦或參與的活動，包括長者學苑高桌晚宴、「晚晴+VE」計劃分享會暨公開講座、長者學苑運動會2014一「長幼共融健體樂」、長者服務發展模式交流會暨研究發佈一「從國際標準發展嶄新長者服務模式」，以及《香港婦女發展指標》發佈會。

婆婆的原宿 : 遊日本看銀髮市場, Pak Hang, Eric Tang

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

伴隨著人口不斷老化的趨勢，長者群組日益龐大，他們在不知不覺間改變著我們的社會。人口老化雖帶來種種挑戰，但也包含商機，有不少人正看準了這個新興市場，建立多姿多彩的銀髮經濟。

亞太 : 活用彈性退休 應對人資挑戰, Ting Cao

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

隨著人口老齡化及社會經濟的發展，退休制度的改革已成為國際討論的焦點之一。在傳統意義上，退休意味著停止工作以及領取養老金。從社會老年學的角度看，在以僱傭勞動為主的工業社會，退休至少具備兩個重要意義：1.對員工過往工作的認同及補償；2.令年輕人有更多的工作機會。然而，工作方式的變遷和養老保障模式的結構性改革，使得退休與工作之間的對應關係日漸模糊。隨著預期壽命的不斷延長，越來越多的長者在退休之後，仍然有長達20年或更多的時間保持到健康，並且擁有繼續工作的意願和能力。此外，面對勞動力供給下降，龐大的養老金缺口及財務壓力等問題，國際社會對於退休改革的呼聲亦不斷增強。

長者理財挑戰多 及早教育增保障, Ting Cao

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

當人們進入人生的後半段，需要面對更多的不確定性及特別的財務挑戰。據加拿大財務及消費者機構 (FCAC) 在2014年的報告，長者在生命後期，大致要面對十個有關於財務方面的挑戰，分別是：1.為退休作計劃；2.住房改變的需要；3.再就業；4.疾病與殘疾的適應；5.將儲蓄轉變為不間斷收入；6.失去配偶或者同伴；7.處理可能出現的財務詐騙或者財務虐待；8.對親人或伴侶的照顧；9.旅遊；和10.房產安排。

從懼怕死亡到管理生命 : 「晚晴+Ve」殘疾長者生命教育計劃的啟示, Man Yin, Emily Chan

Asia Pacific Institute of Ageing Studies Newsletter 亞太老年學研究通訊

傳統中國人視「死亡」為忌諱，即使深明每個人終將難逃一死，很多人仍會本著「只談氐，避談死」的心態，選擇避而不談「死亡」。難道不談，就代表其不重要且可以被忽略？