DETERMINANTS OF TRADE CREDIT FINANCING: CASE OF MANUFACTURING FIRMS LISTED IN PAKISTAN

AbstractThis paper investigates the determinants of trade credit financing used by listed manufacturing firms in Pakistan. For this purpose, balanced panel data are used that consist of 327 manufacturing firms listed on KSE Pakistan and time period from 2005 to 2013. Results of system GMM estimator applied on dynamic panel data set reveal that trade credit financing used by listed manufacturing firms is significantly affected by its first lag, trade credit extended to customers, availability of short term bank credit, their sales growth, profitability, creditworthiness, collateral and financial leverage. Positive coefficient for first lag of trade credit financing shows that firms’ trade credit financing is dynamic. The speed of making adjustment in trade credit financing is found relatively high due to low cost of making adjustment. Findings of this study has managerial implication for trade credit financing decision of listed manufacturing firms. For future research, investigation of the effect of financial development on trade credit financing behavior of firms is proposed

Geochemistry of mafic dykes in part of Chotanagpur gneissic complex: petrogenetic and tectonic implications

Chotanagpur Gneissic Complex basement rocks of the Eastern Indian shield has been dissected by numerous mafic dykes, now occurring as amphibolitic dykes and gneissic amphibolites. These dykes are subalkaline, ranging in composition from basalt through basaltic-andesite to andesite. These rocks have enriched incompatible trace element patterns. These are particularly enriched in light rare earth elements (LREE) and large ion lithophile elements (LILE) with depleted high field strength elements (HFSE; Nb, P, Ti) characterisitcs (i). Negative Sr anomaly is conspicuous. Nb/La and Nb/Ce ratios of the dykes are lower compared to the primitive mantle but these values are closer to average crustal values. Incompatible trace element data suggest enriched source characteristics and influence of crustal contamination in their genesis. Trace element ratios such as Gd/Yb of these dykes indicate at least two different sources. They probably represent Precambrian continental rifting in this region

Where does India end and Eurasia begin?

The Indus Suture Zone is defined as the plate boundary between India and Eurasia. Here we document geochronological data that suggest that Indian rocks outcrop to the north of this suture zone. The inherited age spectrum of zircons from mylonitic gneiss collected in the southern part of the Karakorum Batholith is similar to those obtained from the Himalayan Terrane, the Pamir and is apparently Gondwanan in its affinity. These data are taken to indicate that the Karakorum Terrane was once a component of Gondwana, or at least derived from the erosion of Gondwanan material. Several continental ribbons (including the Karakorum Terrane) were rifted from the northern margin of Gondwana and accreted to Eurasia prior to India-Eurasia collision. Many therefore consider the Karakorum Terrane is the southern margin of Eurasia. However, we do not know if rifting led to the creation of a new microplate(s) or simply attenuated crust between Gondwana and these continental ribbons. Thus there is a problem using inherited and detrital age data to distinguish what is "Indian" and what is "Eurasian" crust. These findings have implications for other detrital/inherited zircon studies where these data are used to draw inferences about the tectonic history of various terranes around the world

Role of Psychological Sense of Community in Enhancing Employee’s Well-Being

Yearning for sense of community is in part fostered by decline of traditional place of community due to which people feel less satisfied at workplace. Thus drawing on psychological sense of community theory, this paper is going to focus on relationship between employee’s sense of community and life satisfaction; a critical, yet under research relationship. Using regression analysis, it was found that if employees are provided with sense of community at workplace, then they are satisfied with their life

Where does India end and Eurasia begin?

The Indus Suture Zone is defined as the plate boundary between India and Eurasia. Here we document geochronological data that suggest that Indian rocks outcrop to the north of this suture zone. The inherited age spectrum of zircons from mylonitic gneiss collected in the southern part of the Karakorum Batholith is similar to those obtained from the Himalayan Terrane, the Pamir and is apparently Gondwanan in its affinity. These data are taken to indicate that the Karakorum Terrane was once a component of Gondwana, or at least derived from the erosion of Gondwanan material. Several continental ribbons (including the Karakorum Terrane) were rifted from the northern margin of Gondwana and accreted to Eurasia prior to India-Eurasia collision. Many therefore consider the Karakorum Terrane is the southern margin of Eurasia. However, we do not know if rifting led to the creation of a new microplate(s) or simply attenuated crust between Gondwana and these continental ribbons. Thus there is a problem using inherited and detrital age data to distinguish what is Indian and what is Eurasian crust. These findings have implications for other detrital/inherited zircon studies where these data are used to draw inferences about the tectonic history of various terranes around the world

A systematic review of observational studies, demonstrating smoking among school going adolescents

Objective: To characterize the methods of design and analysis currently adopted in survey research of school-based observational studies for smoking, and to identify the common pitfalls made by researchers.Methods: The systematic review was conducted in 2009 and consisted of observational studies in school settings published between January 2005 and January 2009. Smoking status was the main outcome of interest. Following Cochrane style, five steps were followed: setting selection criteria for studies and conducting a literature search; review of abstracts; review of complete articles; data extraction and quality assessment of included studies; and, finally, synthesis of studies.Results: Of the 292 abstracts retrieved, 45 (15.4%) articles were selected for the final review. Inconsistencies were found in the definition of smoking behaviour which impeded generalisability. Individual-level factors had importance, but environmental level factors were also important in studying the aetiology of smoking. Results showed that studies inappropriately reported sample size estimation and important confounding factors. Hierarchical linear modelling, random effects modelling and structural equation modelling were employed in comparatively few studies.Conclusions: There were concerns regarding data analysis of complex surveys. Fifty five percent of reviewed studies ignored environmental effects which may have produced unreliable inferences. Multi-level analysis assisted in understanding school-level effects

Neodymium Isotope Constraints on the Origin of TTGs and High-K Granitoids in the Bundelkhand Craton, Central India : Implications for Archaean Crustal Evolution

The Bundelkhand craton in central India consists mainly of abundant high-K granitoids formed at the Archaean-Proterozoic boundary and several enclosed rafts of TTGs (tonalite-trondhjemite-granodiorites) up to 3.5 Ga. Therefore, the Bundelkhand craton is a key locality for studies on Archaean crustal growth and the emergence of multisource granitoid batholiths that stabilised a supercontinent at 2.5 Ga. Based on their geochemical characteristics, the high-K granitoids are divided into low silica-high Mg (sanukitoids and hybrids) and high silica-low Mg (anatectic) groups. We aim to provide new insights into the role of juvenile versus crustal sources in the evolution of the TTG, sanukitoid, hybrid, and anatectic granitoids of the Bundelkhand craton by comparing their key geochemical signatures with new Nd isotope evidence on crustal contributions and residence times. The ages and geochemical signatures as well as epsilon Nd(t) values and Nd model ages of TTGs point towards partial melting of a juvenile or short-lived mafic crust at different depths. Paleoarchaean TTGs show short crustal residence times and contributions from the newly formed crust, whereas Neoarchaean TTGs have long crustal residence times and contributions from the Paleoarchaean crust. This may reflect the transition from melting in a primitive oceanic plateau (3.4-3.2 Ga) in plume settings, resulting in a Paleoarchaean protocontinent, to 2.7 Ga subduction and island arc accretion along the protocontinent. The 2.5 Ga high-K granitoids formed at convergent subduction settings by partial melting of the mantle wedge and preexisting crust. Sanukitoids and hybrid granitoids originated in the mantle, the latter showing stronger crustal contributions, whereas abundant anatectic granitoids were products of pure crustal melting. Our Nd data and geochemical signatures support a change from early mafic sources to strong crust-mantle interactions towards the A-P boundary, probably reflecting the onset of supercontinent cycles.Peer reviewe

Effectiveness of tranexamic acid in preventing postpartum

Background: Caesarean section delivery is associated with severe maternal morbidity, including obstetric haemorrhage, hysterectomy, anaemia, blood transfusion, and infection. Among these operative morbidities associated with CS, obstetric haemorrhage is the leading cause of maternal mortality worldwide.Objective: The aim of this work was to achieve the minimal blood loss during elective cesarean section (CS) in order to decrease patients' morbidity by using tranexamic acid (TXA) injection before operation time.Patients and Methods: The current study was randomized-controlled clinical trial that was conducted at Department of Obstetrics and Gynecology, Zagazig University Hospitals through the period from April 2021 to September 2022.Results: The mean of blood loss during CS in tranexamic acid intervention group was 484.87 cc and mean of blood loss during CS in control group was 705 cc. The difference was highly statistically significant p=0.0001. Per cent of blood loss was 37% more among control group.Conclusions. Tranexamic acid is a good option to reduce the amount of blood loss during CS on high risk pregnancy

Early Cretaceous radiolarians from the Indus suture zone, Ladakh, northern India

The Nidar ophiolitic complex in estern Ladakh, northem India, consists of u1tramafic rocks, gabbro and sedimentary-volcanic member, in ascending order. The sedimentary-volcanic member in thee Nidar area is about 370 m in thickness, and is composed of altemating chert, japerite, volcanic rocks, red shale, volcanic conglomerate, sandstone and shale. Among these rocks, chert and shale yields well-preserved radiolarian fossils, which range in age, at least, from Hauterivian to Aptian (Early Cretaceous). These ages are consistent with the Sm-Nd mineral-whole rock isochron age of the underlying gabbro. The lithology, ages and geochemical characteristics of the Nidar ophiolitic complex indicate that the complex formed in an intra-oceanic volcanic arc setting. A chert block from the Shergol ophiolitic melange in westem Ladakh yields Albian radiolarians

Role of Psychological Sense of Community in Enhancing Employee’s Well-Being

Yearning for sense of community is in part fostered by decline of traditional place of community due to which people feel less satisfied at workplace. Thus drawing on psychological sense of community theory, this paper is going to focus on relationship between employee’s sense of community and life satisfaction; a critical, yet under research relationship. Using regression analysis, it was found that if employees are provided with sense of community at workplace, then they are satisfied with their life