The Global Fund to Fight AIDS, Tuberculosis & Malaria (GF) offers new approaches and challenges in international aid for health. Little research is available exploring the experiences of individuals and communities working within the confines of GF policies in Latin America. The study fills this gap through a qualitative exploration of local experiences with tuberculosis (TB) services and the GF in Nicaragua. <p>This study sought to examine local stakeholders (administrators, health personnel and persons affected by TB) experiences related to GF policies relevant to TB services in Nicaragua. The study drew from a population health perspective and was informed by an ethnomethodological approach. Key themes focused on TB control, health systems and health rights. Data collection involved contextual analysis, participant observation, in-depth interviews and focus groups. The study involved 6 months of fieldwork in Nicaragua from November 2005-April 2006. Fieldwork was conducted with the support, participation and assistance of the Centre for Health Research and Studies, the Damian Foundation and the National Tuberculosis Control Program. <p>Analysis of findings shows various internal and external challenges in communication/procedural and disbursement/execution aspects of the GF grant. In TB control, participants identified private sector participation, case detection & reduced abandonment as improvements resulting from the GF project, though sustainability was a key concern. In health systems, concerns of efficiency and efficacy in the use of funds were commonly expressed. The focus on human resource development via the GF was considered a strength of the project. Community participation and the reduction of stigma, two facets of health rights, were perceived to have improved through the GF grant; however, remain identified as key issues for improving the context of TB in Nicaragua. The experiences of people working to implement or receiving TB services and GF activities in Nicaragua offer valuable insight into the strengths and challenges of this country-driven approach to aid for health. The GF needs to give more attention to such experiences a resource for improving flexibility and assuring sustainability in program strengthening and human resource development.

In recent years, the economic exchanges between China and Taiwan have become more frequent, hence the Chinese financial market is the main target that we should research and participate in actively. This study refers to Barra Multi-Factor Modeling process to construct a China Multi-Factor Model. We then apply MFM to establish a Shanghai Stock Exchange 50 enhanced index fund. The first objective of this study is to discover significant factors which can explain excess return of securities. The second is to identify significant factors to forecast stock returns and show the alpha effect in an Enhanced Index Fund via a new weight allocating model developed by this study. The result shows that the eight significant factors are Earning Quality, Efficiency, Growth, Momentum, Size, Trading Activity, Value, and Volatility. The performance of Enhanced Index Fund is better than that of the benchmark. Information ratio is 0.86, and turnover rate is 213%, which is acceptable.

The objective of this study is to build a complete process of quantitative stockselection model construction that combines a Multi-Factor Model and informationanalysis. Based on the quantitative stock selection model, we construct anenhanced index fund that uses the Taiwan 50 index as its benchmark. Stock prices change for a multitude of reasons, and these reasons may changeover time. In this study, we use a Multi-Factor Model and information analysis to find the relationship between stock price behavior and a factor‟s condition. Wecan use this relationship as a basis for stock selection. Moreover, the purpose of this study is to construct an enhanced index fund,hence we need to control the tracking error. We use an intuitive portfolio construction method, the original weight retention rate of the benchmark, to control tracking error. In addition, the turnover rate of a portfolio is also a significant problem as it may cause the profit of a portfolio to decreasesignificantly. In this study, we use the smoothing alpha score method to control the turnover rate of our portfolio.

Small and Medium Enterprises (SMEs) in Taiwan play an important role in the economic system, but compared to other listed or larger companies, SMEs are more difficult in obtaining fund, and this is the reason why Small and Medium Enterprises Credit Guarantee Fund (SME Credit Guarantee Fund) sets up. The purpose of this study is to discuss the guaranteed risk of the SME Credit Guarantee Fund, including the estimate of the ex-ante probability of default and the hypothesis test of the ex-post recovery rate. The sample data, which are divided into twenty three industries, are established for the estimation of the market value for all kinds of industries, using the Moody's KMV Private Firm Model as the basic theory to estimate the company¡¦s probability of default and revising the default point to fit the features among different economic periods in Taiwan. This research uses the Chi-square homogeneity test to test how characteristic variables of companies affect the recovery rate. The study finds that the default point of the original definition of KMV may underestimate SME¡¦s probability of default in Taiwan, and there is lower estimated probability of default at good times rather than that at bad times. The recovery rate shows a right-skewed distribution, and the results also indicate that the how many banks the companies transact with, whether the directors and supervisors of the companies are joint and several guarantee, how old the companies are and how long the responsible officers are in business, have significantly affected the recovery rate.

This study models and examines how changes in marketing information affects the degree of investor¡¦s risk aversion, and in turn, influences investor¡¦s decision-makings process under uncertainty. Under the mixed assumptions, the theoretical evidence in this study indicates that cumulative prospect theory (CPT) investors have propensity to discipline their depreciated assets and to sell their appreciated assets. Further, I find that CPT investors have less incentive to sell their holdings with higher advertising than ones with lower advertising when facing a paper gain or a paper loss. The empirical evidence indicates that advertising can help funds stem cash outflows, and finds investors are less willing to sell high performing investments with high fund family advertising than investments with low fund family advertising, and are more reluctant to redeem losing mutual funds with high fund family advertising than funds with low fund family advertising. For loser funds, a possible explanation from this study is that advertising seems to re-enforce the efficacy of recent investor decisions and adjust their beliefs to confirm past decisions, thus lets investors have more incentive to continue holding losing funds. For winner funds, this study infers that advertising may signal product quality, increase consumer satisfaction, brand equity and consumer loyalty that lead investors satisfied with their past decisions to have a greater propensity to retain their winning investments.

It has been about 30 years since the first security investment trust companies (hereafter referred to as the Securities Investment Trust) was established and issued the first funds in national mutual fund market since 1983. The total market size of the domestic issued fund is more than 1.89 trillion NT dollars now. And as offshore funds open to the domestic market, the atmosphere of domestic investors use mutual funds to manage finance gradually prevailed. Along with the cross-stray policy adjustment the government made and the markets open up of oversea financial products, the competition between domestic security industries extended from commodity differentiation to service innovation and efficiency. In addition to the performance of issued funds, professional services, innovative products and convenient platform have become the one of the competition focuses between industries. In the competitive environment of market saturation, increasing supply, and high operation cost, it is important and basic for a corporation to build a sale system with outstanding cost, quality, and speed. That is to rapidly react to the market, provide different creative services, strengthen customers¡¦ value and service quality, and elevate customers satisfactory and operation performance. Quick response (QR) is in related with the ability whether a corporation can satisfy to the need of the customers in time and increase corporation competitiveness by commerce automotive. This research was to discover the challenge of the fund administration department of the case study company. The bar code model was imported into the fund operation procedure with the angle of commerce automotive. That was to reduce the redundant waste and fasten the procedure of operation and management. With the corporation of automotive function, the information could be handled and managed more efficiently with real time track, on line monitor, intensify control, and decrease redundant recording procedure. Also, the investment trust fund operation efficiency and quality could be improved and strengthen the management performance by increasing inner control and customer service. Furthermore, to combine the feasible bar code system and mobile device with investment e-commerce platform from the angle of fund operation procedure to find the opportunity to create new procedure as a reference for the investment owners in future development. Finally, suggest the future discussion aspect of the business model of financial creativity in order to develop a unique financial service platform in Taiwan to increase our international competitiveness in financial service.

This research proposes a decision and behavior model which tries to approximate the fund trading. The main idea is based on the principle of the publication ¡§Genetic Algorithms for the Investment of the Mutual Fund with Global Trend Indicator¡¨, and four optimization schemes are proposed as well. First, the calculation of GTI is refined to prevent the possible problems caused by the case that all the fund are getting rise, or the opposite. Second, the tolerance is considered to avoid the reduction of profits owing to the increase of rates for transaction which Funds, those near threshold ones, might exchange ranking too often. Third, the concept of Stop-Loss Point is involved to release the fund dynamically instead of oversell. The last, Someone like to investment more profitable with short-term data, but high-risk. Someone like to investment long-term data, therefore, we added (1-£\)History + (£\)Recent to make users could set by themselves. And we also design genetic algorithm to calculate £\ for reference. Under the constraints of three different coefficients of stop-loss and release, the Return of Investment (ROI) is four times than original one(8.98%), which is compared in 2007.

It is important procedure of the democracy to appoint good men and able men to office. In order to make virtuous and talented outstanding, service public position, all countries still the one who have system of the office expenses election, among them to three choose subsidizes to campaign the budget, would being the office expenses election it on carrying. My country the office-holder elects the expenses the subsidy the system, since January 26th, Year 78 of the Republic of China increase, carrying out the 15 years already. System the origin is not inflexible, must respond the environment of the times to change and grow up, expecting the system and can match the lawmaking original intention more. This text is to make use of the current cultural heritage data, consulting beautiful, day, virtuous, the subsidy system of the countries such as method, Canada and Australia etc., and carry on to carry out the current conditions study with the virtuous method of Policy Delphi, the expects to inquire into my country the office-holder the election expenses the subsidy the system more three of an improvements according to. This research finds, my country the office-holder elects to campaign the expenses the subsidy the system, were very few inquired into on the academic theories; But carry out since 15 years, the government subsidized NT$3600875085 to the political party, part of then subsidize in the candidate about NT$7459799500, altogether the subsidy invites NT$11060674585.This text with virtuous Policy Delphi method the one who collect scholar's expert, office-holder and choose the opinion detection of the administrative personnel of worker , think the proper reasonable for the subsidy the one who have 16.11%, think the 77.78% in occupancy of the trend that the subsidy did not purify the social election custom, to each ticket in candidate subsidy NT$30 partial, think to change the necessity the one who have 58.82%, but then have no the obvious consensus in changing how much amount of money, besides, in the aspects of political party subsidizing, ticket subsidy NT$50 is partial each time, think to change the necessity has 66.67%, and in various alteration projects then with 0 dollars( cancel subsidy) stand 40.91% is most consensus. Then the research suggests up, research method aspect can adopt again the depth interview method of the quality, aim at the background and financial power analysises of the candidate, to repair the shortage that the virtuous amount of method of Policy Delphi turns the data; The next in order, fix the method aspect suggestion the emendation office-holder's election to recall five of method Article 45ses provisionses to subsidize the amount of money and cancel the political party subsidy concerning the candidate; Finally, suggest the data that the camera pass integrity keeps to campaign the expenses subsidy, the is then to make the basis that the policy examines the hour in the future. Finally, suggest the data that the camera pass integrity keeps to campaign the expenses subsidy, the is then to make the basis that the policy examines the hour in the future.

none

None