We examine the evidence from the long-run abnormal returns using data for 76 health care and biopharmaceutical initial public offerings (IPOs) listed in a 29-year period between 1986 and 2014 in the Association of Southeast Asian Nations (ASEAN) countries such as Indonesia, Malaysia, Singapore, Thailand, the Philippines, Vietnam, Myanmar, and Laos. Based on the event-time approach, the 3-year stock returns of the IPOs are investigated using cumulative abnormal return (CAR) and buy-and-hold abnormal return (BHAR). As a robustness check, the calendar-time approach, related to the market model as well as Fama-French and Carhart models, was applied for verifying long-run abnormal returns. We found evidence that the health care IPOs overperform in the long-run, irrespective of the alternative benchmarks and methods. In addition, when we divide our sample into 5 groups by listing countries, our results show that the health care stock prices of the Singaporean firms behaved differently from those of most of the other firms in ASEAN. The Singaporean IPOs are characterized by a worse post-offering performance, whereas the IPOs of Malaysian and Thai health care companies performed better in the long-run.
Lauritz Toft (1920-1991), also known as Lau, graduated with a MSc degree in pharmacy at the Royal Danish School of Pharmacy in 1944. During the education and parallel activities Lau had shown gifts for intuition and improvisation, together with special talents for leadership and large-scale working. In 1945 he got the idea during the organization of the East Asiatic Company Ltd. to sell the best of the products from the Danish pharmaceutical companies in India under a common trade mark: DUMEX (Danish United Medical Export). The article describes Lau's difficulties and problems in realizing this idea. The adventure peaks in the mid-1950's with about 40 pharmacists in DUMEX-departments in India as well as Thailand, Malaysia, Indonesia, China etc.
This study investigated the impact of Hofstede cultural dimensions on sustainable competitive advantage with the mediating role of entrepreneurial innovativeness among Malays, Malaysian Chinese, and Malaysian Indian entrepreneurs in the retail industry. This study involved a quantitative approach with standardized questionnaires distributed among target respondents through non-probability sampling techniques, including snowball sampling, quota sampling, and convenience sampling. The data were collected in a cross-sectional setting from Malaysian retail ethnic entrepreneurs. AMOS-SEM and SPSS were used to analyze the data. The findings of this study revealed a positive and significant influence of indulgence, long-term orientation, masculinity, and low power distance on sustainable competitive advantage among Chinese, Malay, and Indian entrepreneurs. Furthermore, the direct effect of entrepreneurial innovativeness was also positive and significant in terms of sustainable competitive advantage among Chinese, Malay, and Indian entrepreneurs. Finally, the indirect effects of collectivism, indulgence, low uncertainty avoidance, low power distance, masculinity, and long-term orientation on sustainable competitive advantage through mediator entrepreneurial innovativeness were positive and significant among Malaysian Chinese. However, in Malay (indulgence) and India (collectivism, low uncertainty avoidance, and low power distance), these were not significant. Our results suggest that academics and businesses should consider how cultural norms of masculinity, long-term orientation, and uncertainty avoidance impact sustainable competitive advantage activities. Rewards encouraging sustainable competitive advantage in one subculture may not promote it in another. Subcultural norms influence entrepreneurs' decisions, expectations, and incentives in a culturally diverse community.
Unemployment and poverty are seriously issue of concern globally, especially in developing countries like Nigeria. Unemployment and poverty among university graduates in Nigeria, the trends on rising every year, major corporations are cutting down jobs and graduates who were interested to work can’t seem to find a job. However, entrepreneurship and business formation have been recognised around the World as a remedy for unemployment and pivotal for economies to grow. Therefore, promotion of entrepreneurial activity becomes the most top priority on the government agenda. Despite the unique role played by entrepreneurship to the economy as a whole and to the person that established business, in Nigeria, the rate of university graduates in entrepreneurship is far below expected. This led to many research efforts on factors that are having an effect on student’s entrepreneurial intentions. This review paper proposed the intention to be an entrepreneur can be explained by Ajzen, (1991) theory of planned behaviour, institutional, and core self-evaluation theories. Psychological (self-efficacy, risk-taking propensity, locus of control, innovativeness, need for achievement) and institutional (university environment, government support programmes) factors will have an effect on attitudes, subjective norms, perceived behavioural control. Consequently, the study predicted the entrepreneurial intentions of the Nigerian university students.
To diversify the creative thinking of preschool education students and improve their ability to innovate and start a business, a survey of preschool education students under entrepreneurial psychology theory was conducted in this research. Based on the theoretical foundation of entrepreneurial psychology, this article analyzed the entrepreneurial psychological quality and psychological education of college students. By investigating preschool education students in a certain college in Sichuan as the research object, the author explored the current entrepreneurial intentions of college students and their entrepreneurial psychological problems. In response to the current entrepreneurial situation of college graduates, relevant countermeasures were proposed from the perspective of the school to support their entrepreneurial psychology. Among the 205 preschool education college students, the students were more willing to give full play to their professional expertise in terms of employment intentions. At the same time, there were still situations in which students were dissatisfied with the prospects of preschool education career development and wanted to achieve the value of life through other approaches. Most students in preschool education had a wait-and-see attitude toward entrepreneurship. Only 35% of students had a clear intention to start a business and made their plans for entrepreneurship. More than 90% of students held that they had developed inadequate entrepreneurial ability, and 80% of students believed that they lacked the required professional knowledge. These two factors constitute the main reasons for students' negative attitudes toward entrepreneurship. Nevertheless, colleges may stimulate the potential of students' self-development through the improvement of entrepreneurial psychological education courses, the construction of psychological consultation institutions on campus, and the establishment of interactive platforms for entrepreneurship. In this way, students' entrepreneurial psychology can be cultivated in an all-round way. Therefore, to deal with the weak overall entrepreneurial consciousness of college students, the colleges should cultivate entrepreneurial innovative talents by strengthening the psychological education of entrepreneurship for students, and help college students achieve entrepreneurial success.
If Malaysia is to become a high-income country by 2020, it will have to transform into a knowledge-based, innovation economy. This goal will be achieved by developing an atmosphere conducive to experimentation and entrepreneurship at home; while reaching out to partners across the globe. One of Malaysia's newest partnerships is with the New York Academy of Sciences. The Academy has expertise in innovation and higher education and a long history of promoting science, education, and science-based solutions through a global network of scientists, industry-leaders, and policy-makers. Malaysia's Prime Minister, Dato' Sri Mohd Najib Tun Abdul Razak, leveraged the Academy's network to convene a science, technology, and innovation advisory council. This council would provide practical guidance to establish Malaysia as an innovation-based economy. Three initial focus areas, namely palm-oil biomass utilisation, establishment of smart communities, and capacity building in science and engineering, were established to meet short-term and long-term targets.
With globalization education has become a tradable service governed by the rules and regulations of GATS and worth trillions of dollars. International standards are rapidly being developed to facilitate cross border supply of services. In medical education, the WFME has produced International Guidelines on Quality in Medical Education which has a regional equivalent in the WHO Western Pacific Region, and the IIME has defined the minimum essential requirements of standards in medical education in seven core competences. Malaysia, having an explicit policy of making education a sector for revenue generation, has put in place regulatory frameworks and incentives to make the country a centre of educational excellence. Within the ambit of this national aspiration, medical education has grown phenomenally in the last decade. Standards and procedures for accreditation of medical schools in line with the world standards have been developed and implemented and policies are enforced to facilitate compliance to the standards. The ultimate goal is for medical schools to be self-accredited. In striving towards self-accreditation medical schools should be innovative in making changes in the three requirements of medical education. These are the intellectual and social imperatives and strategies for effective implementation.
An assessment of the current status of magnetic resonance imaging (MRI) was undertaken to provide input for future government decisions on the introduction of new technologies in Asia. The objective of the study is to describe and explain the diffusion pattern of this costly technology in several Asian settings.
This paper investigates the use and provision of biomedicine among Korean-Australian men on the basis of interview data from all of the eight Korean-speaking doctors practising in the Korean community in Sydney in 1995. From the viewpoint of these general practitioners, an analysis is made of the processes Korean men go through in adjusting to a new country, being involved in constant hard manual work and long working hours, and explores how they make use of all available resources to stay healthy. The Korean men have fully utilized the 'freely' available medical services under government-subsidized Medicare, bearing in mind that health is a capacity to work under the current environment, although illegal migrants restrained themselves from using it until they obtained legal status. Korean-speaking medical practitioners have been able to provide their fellow Koreans with 'culturally appropriate' health care, with the key factor being the absence of a language barrier. The level of patient satisfaction is high, possibly due to the excellent understanding the doctors have of the social aspects of illnesses, although the doctors do not go beyond curative medicine in their practice. However, the increasing number of Korean-speaking doctors in the small Korean community means that there is competition for patients. Consequently, the medical care is highly entrepreneurial. Referral by Korean doctors to practitioners of Korean herbal medicine is also a notable feature of the health care sector of the Korean community, especially as this offers Korean patients 'satisfactory' health relief for problems that are not easily relieved by doctors in the biomedical system.