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This paper aims to investigate the individual difference on digital reading, by examining the eye-tracking records of male and female readers with different reading ability (including their pupil size, blink rate, fixation rate, fixation duration, saccade rate, saccade duration, saccade amplitude and regression rate).

A total of 74 participants were selected according to 6,520 undergraduate students’ university entrance exam scores and the follow-up reading assessments. Half of them are men and half are women, with the top 3% good readers and the bottom 3% poor readers, from different disciplines.

Results indicated that the major gender differences on reading abilities were indicated by saccade duration, regression rate and blink rate. The major effects on reading ability have a larger effect size than the major effect on gender. Among all the indicators that have been examined, blink rate and regression rates are the most sensitive to the gender attribute, while the fixation rate and saccade amplitude showed the least sensitiveness.

This finding could be helpful for user modeling with eye-tracking data in intelligent tutoring systems, where necessary adjustments might be needed according to users’ individual differences. In this way, instructors could be able to provide purposeful guidance according to what the learners had seen and personalized the experience of digital reading.

The purpose of this paper is to examine the role of Asian real estate companies with regard to their “value‐added” performance and portfolio diversification benefits in Asian mixed‐asset portfolios, as well as in international real estate securities portfolios over 1996‐2005.

First the risk‐return performance for all 13 Asian as well as the US and UK real estate securities markets is compared. For each country, next the correlation profiles between real estate, common stock, bonds and cash are assessed. The value‐add benefits of Asian real estate securities in an unconstrained and constrained mixed asset portfolio are then assessed in relation to portfolio return, risk and terminal wealth. Finally, the paper explores whether there are benefits derived from international diversification with a universe of Asian real estate securities from the perspectives of the US and UK investors.

It was found that, whilst there is little evidence of diversification benefits and superior risk‐adjusted performance of Asian real estate companies in Asian mixed‐asset portfolios, diversification into Asian real estate stocks can provide positive portfolio implications for international investors. Thus investing in Asian real estate securities portfolios rather than investing in Asian mixed‐asset portfolios may be seen to be the more effective diversification strategy over this period.

The study has provided some interesting and important insights into the dynamics and performance of Asian real estate securities. With an increased emphasis on international property investment and as the regional upturn becomes more evident, Asian real estate companies potentially provide an important real estate investment opportunity for international property fund mangers.

This paper aims to test the predictability of the three asset classes, namely direct property, bond and property stocks in Singapore.

Using the generalized method of moment (GMM) estimation methodology, the authors first estimate the excess returns of assets on five instrumental variables and a constant term. Next the common risk factors are tested in three parts involving different portfolio of sample assets.

The empirical results shows that there are at most three common risk factors that can be used to predict the excess returns of six asset classes, that include four direct property assets, bonds and property stocks. The results also indicate that there are separate common risk premia that are priced in property stock and direct property markets, which indirectly reject the hypothesis that the two property markets are integrated.

The empirical results that reject the market integration between property and property stock markets imply that there are significant diversification benefits for holding both assets in investors' portfolios. The two property assets capture different risk premia in the markets.

The GMM specifications that include five instrumental variables may not fully capture all risk information. Omission of other variables is, however, traded‐off against the parsimony of the model specification. More independent variables could be included in the future studies, and more asset classes could also be added to the tests.

The study provides alternative evidence to the test of market integration between property and property stocks in Singapore. It also verifies the earlier study in the USA that property and stock market effects could be separately priced by the market.

This paper aims to propose a new transformer-less inverter structure to reduce the common-mode leakage current in grid-connected photovoltaic (PV) systems.

The proposed circuit structure is the same as the conventional full-bridge inverter with three additional power switches in a triangular structure. These three power switches are between the bridge and the output filter, and they mitigate the common-mode leakage current flowing toward the PV panels’ capacitors. The common-mode leakage current mitigation is done through the three-direction clamping cell (TDCC) concept. By clamping the common-mode voltage to the middle voltage of the DC-link capacitors, the leakage current and the total harmonic distortion (THD) of the injected current to the grid is effectively reduced. Therefore, the efficiency is improved.

The switching modes and the control method are introduced. A comparison is carried out between the proposed structure and other solutions in the literature. The proposed topology and its respective control method are simulated by PSCAD/EMTDC software. The simulation results validate the advantages of the presented structure such as clamping the common-mode voltage and reducing leakage current and THD of injected current to the grid.

Presenting a single phase-improved inverter structure with low-leakage current for grid-connected PV power systems represents a significant original contribution to this work. The proposed structure can inject a sinusoidal current with low THD to the AC grid, and the power factor is unity on the AC side. In the half positive cycle, one of the switches in the TDCC is turned off under zero current. Besides, one of the other switches in TDCC is turned on with zero voltage and, therefore, its turn-on switching losses are zero. The efficiency of the proposed topology is high because of the reduction of leakage current and power losses. Accordingly, the presented topology can be a good solution to the leakage current elimination.

The existing research on multinational companies (MNCs) tends to emphasise the diffusion of knowledge and skills in information, communication and technology (ICT) from the more advanced industrialised nations to less‐developed or latecomer countries. Few studies have examined the ICT work force supply and development of local ICT skills among MNCs' overseas subsidiaries. This paper aims to fill the gap by evaluating the issues relating to the host country's ICT work force planning and supply and the recruitment and retention of ICT skills among MNCs at their local subsidiary.

A survey of 100 MNCs in Taiwan, Republic of China was used for analysis. The self‐administered questionnaire was designed to examine the extent of difficulty experienced by MNCs in recruiting high, medium and low levels of ICT skills in the manufacturing and service sector. Attrition rate of the ICT skilled workers in Taiwan was also examined.

The results suggest some degree of ICT skill deficiency at the firm level, despite many efforts attempted by the Taiwanese government to develop and supply ICT skills at the national level. A gap between national advancement in technology and firm level of skills deficiency exists. These findings lead to consideration of a better alignment in providing local government support programs to meet MNCs specific skill requirements.

The study provides some insights especially for the emerging economy of China, which tends to heavily impose government intervention in developing strategic industries.

The purpose of this paper is to provide an analysis of the relationship between expected risk premia on property stocks and some major macroeconomic risk factors as reflected in the general business and financial conditions

Employs a three‐step estimation strategy (principal component analysis, GARCH (1,1) and GMM) to model the macroeconomic risk variables (GDP growth, INDP growth, unexpected inflation, money supply, interest rate and exchange rate) and relate them to the first and second moments on property stock excess returns of four major markets, namely, Singapore, Hong Kong, Japan and the UK. Macroeconomic risk is measured by the conditional volatility of macroeconomic variables.

The expected risk premia and the conditional volatilities of the risk premia on property stocks are time‐varying and dynamically linked to the conditional volatilities of the macroeconomic risk factors. However there are some disparities in the significance, as well as direction of impact in the macroeconomic risk factors across the property stock markets. Consequently there are opportunities for risk diversification in international property stock markets.

Results help international investors and portfolio managers deepen their understanding of the risk‐return relationship, pricing of macroeconomic risk as well as diversification implications in major Asia‐Pacific and UK property stock markets. Additionally, policy makers may play a role in influencing the expected risk premia and volatility on property stock markets through the use of macroeconomic policy.

The purpose of this paper is to examine the effects of an integration programme on service users from users’ own perspective.

Multi-method approach was used. Both quantitative and qualitative data collection and analysis were employed to uncover and examine service users’ views of the impact of the integration programme.

An improvement in the physical functioning of one in three occupational equipment users; a rise in the level of satisfaction of 85 per cent of occupational health and 82 per cent of physiotherapy users; older people with complex problems and high-level needs were able to be helped to live at home; and waiting times for both assessment and for services within two weeks and four weeks were below the national achievement and ministerial targets. The impact of the integration programme on users was complex. Positive outcomes were achieved for some user groups and individuals but not for others. A lack of change outcomes in social care, and service users’ low level of satisfaction with social care services appears to be associated with the impact of agency work and the predominant aim in social work of achieving maintenance and prevention outcomes.

This paper contributes to knowledge on what and how the total integration in Cambridgeshire has benefited users.

Develops a “politics‐first” theoretical framework to explain why, how, and when innovative IT projects are implemented successfully in public organizations. Explains how individuals who share a technological interest find each other in issue‐networks. Describes why and how the interests of technologists, bureaucrats, and politicians converge to a point where a coalition with a concrete project agenda emerges. Argues that, frequently, more than one coalition emerges from a single issue‐network and describes how these coalitions compete against each other to institutionalize new dominant designs. Discusses the reasons why some coalitions win while others lose. Provides examples based on innovative national and municipal IT projects in Australia, China, Israel, Japan, The Netherlands, New Zealand, Norway, the UK, and the USA.

Aims to investigate whether the level and volatility of interest rates affect the excess returns of major Asian listed property markets within a time‐varying risk framework.

A three‐factor model is employed with excess return volatility, interest rate level and interest rate volatility as its factors. The generalized autoregressive conditionally heteroskedasticity in the mean (GARCH‐M) analyzes are undertaken on monthly excess returns of property stock indexes for the period 1987‐2003.

Property stocks are generally sensitive to changes in the long‐term and short‐term interest rates and to a lesser extent, their volatility. Moreover, there are disparities in the magnitude as well as direction of sensitivities in interest rate level and volatility across the listed property markets and under different market conditions. Overall, results indicate changes in the ARCH parameter, risk premia, volatility persistence and interest rate level and volatility effects before and after the 1997 Asian financial crisis. However, these noted changes are not uniform and depend on the individual listed property markets.

The findings enhance investors' understanding in financial asset pricing and complement existing evidence in international real estate. With the increasing significance of property stocks as real estate investment vehicles for international investors to gain property exposure in Asia and internationally, the paper is timely and provides the basis for more advanced research in international real estate investment strategies and capital asset pricing.

The paper seeks to examine cycles and common cycles in the real estate markets of the UK, Japan, Singapore, Hong Kong and Malaysia using a combination of time domain and frequency domain methods.

The paper identifies the patterns of cyclical movement (if any) in the five public real estate markets, and searches for common cycle characteristics and patterns in international real estate markets. In addition to the time domain analyses, these empirical investigations are further empowered by a frequency domain method that includes spectral and co‐spectral analyses.

International real estate markets are characterized by cyclical behavior that exhibits phenomenal fluctuations. The markets are also pro‐cyclical; they do tend to move together. Furthermore, some differences in the patterns of the common cycles and their lead‐lag linkages are evident.

International investors would probably benefit from diversifying real estate stocks across the UK and Asian real estate markets, especially in the short and medium terms. However, the long‐term cyclical patterns across the national real estate stock markets are not sharply different, indicating that smaller diversification benefits are to be expected in the long term.

Common cycle analysis advances investors' understanding of the long‐term relationship and medium‐ and short‐term linkages across international real estate markets, thereby allowing investors and portfolio managers an opportunity to discern any contrasting cyclical patterns at all frequencies so as to assist in their portfolio decisions.