A deficit in IL-4 production has been previously reported in both diabetic human patients and nonobese diabetic (NOD) mice. In addition, re-introducing IL-4 into NOD mice systemically, or as a transgene, led to a beneficial outcome in most studies. Here, we show that prediabetic, 12-wk old female NOD mice have a deficit in IL-4 expression in the pancreatic lymph nodes (PLN) compared to age-matched diabetes-resistant NOD.B10 mice. By bioluminescence imaging, we demonstrated that the PLN was preferentially targeted by bone marrow-derived dendritic cells (DCs) following intravenous (IV) administration. Following IV injection of DCs transduced to express IL-4 (DC/ IL-4) into 12-wk old NOD mice, it was possible to significantly delay or prevent the onset of hyperglycemia. We then focused on the PLN to monitor, by microarray analysis, changes in gene expression induced by DC/IL-4 and observed a rapid normalization of the expression of many genes, that were otherwise under-expressed compared to NOD.B10 PLN. The protective effect of DC/IL-4 required both MHC and IL-4 expression by the DCs. Thus, adoptive cellular therapy, using DCs modified to express IL-4, offers an effective, tissue-targeted cellular therapy to prevent diabetes in NOD mice at an advanced stage of pre-diabetes, and may offer a safe approach to consider for treatment of high risk human pre-diabetic patients.

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<p>Previous studies on foreign exchange (forex) risk management have tended to focus on multinational enterprises; while how SMEs manage their forex risk is still largely unexplored. As small and medium sized enterprises (SMEs) are increasingly involved in international markets, they have become a new research setting on forex risk management. Given that SMEs have limited access to resources, skills and capabilities, internal hedging techniques could be favoured by SMEs. There is limited research on this matter, and the extant literature on forex management generally considers derivatives as major hedging techniques for large firms. This thesis primarily investigates how exporting SMEs manage forex risk. In addition, approaches to forex management could be changed as a firm becomes more experienced internationally. Following the basic principles of internationalisation theory, the thesis also examines the impact of the internationalisation degree of the firm on forex management decisions.   This thesis sheds new light on SMEs’ hedging practices by providing a better understanding of SMEs’ choices of forex risk management. Three research questions have been raised: (1) what determinants influence SMEs’ choice to hedge as a way of managing forex risk; (2) what strategies do SMEs use when they choose hedging to manage forex exposure; and (3) how does the degree of internationalisation impact the choice of forex management.  The thesis draws on two theoretical perspectives to help address these overarching questions. It extends the use of the resource-based view (RBV), and combines this with internationalisation theory. The setting of SMEs is a context for using the RBV. New Zealand and Australian exporting SMEs provide the sample for testing the hypotheses.   The contributions of this thesis are twofold. Firstly, the thesis identifies four determinants of forex risk strategy by exporting SMEs, i.e. degree of internationalisation (specifically, export ratio), forex exposure, perceived forex risk, and resources. Secondly, it extends the use of the RBV and the internationalisation theory in forex risk management of SMEs. In addition, the thesis uses a research approach combining an exploratory qualitative study and a main quantitative study.</p>

Foreign exchange risk management is well researched in the context of multinational enterprises, but how small and medium sized exporting firms manage their forex risk is still largely unexplored, especially through an international business lens. This study investigates how New Zealand and Australian exporting small and medium-sized enterprises (SMEs) manage foreign exchange (forex) risk, and the impact of increasing internationalisation on this. The study draws on two theoretical perspectives to assist the investigation: the resource-based view and internationalisation theory. The surveys were distributed to New Zealand and Australian exporting firms across a full range of industry sectors represented in the business database provided by Kompass. Statistical analyses, including exploratory factor analysis, and confirmatory factor analysis were conducted to test the measurement model, structural model and research hypotheses. The study identifies four determinants of forex risk strategy of exporting SMEs: degree of internationalisation, forex exposure, perceived forex risk and resources. Organisational and human resources are shown to have a key mediation role in the model. The study provides insights into key determinants of forex risk management and their interrelationships in the little examined context of exporting SMEs.