Corporate governance, ownership structure and dividend smoothing : the mediating role of family ownership and board diversity in emerging markets

Purpose: The study attempts to explore the determinants of dividend smoothing behavior of firms by using firm’s specific characteristics, corporate governance and ownership structure variables as determinants of dividend smoothing in emerging markets due to their unique features from Western markets. The current study is undertaken to fill this gap in the literature. Design/methodology/approach: In order to achieve the research objectives penal data (2009-2018) of more than 1000 Asian firms were analyzed by using Statistical techniques such as pool, fixed and random models. Findings: Based on gender critical mass theory, the study finds that the presence of gender critical mass is positive and significantly associated with firm dividend smoothing behavior; whereas, presence of fewer women depicts negative or insignificant association with dividend smoothing behavior. Importantly, the study also finds moderating role of gender diversity between family ownership and firm’s dividend smoothing behavior. Furthermore, contrary to the agency theory based on explanations of dividend smoothing, firms with family ownership smooth dividend more in emerging markets. Practical implications: This paper helps out to the current as well as future potential investors to make better decision in such a changing economy as well as to help investors in selecting better investment opportunity to make their investment more profitable. Originality/value: The current study is the first of its kind to investigate dividend-smoothing behavior for more than 1000 firms of emerging Asian countries based on cross country analysis.peer-reviewe

Fiscal Policy and Its Role in Reducing Income Inequality: A CGE Analysis for Pakistan

Income inequality is one of the critical barriers to growth and development in most of the developing countries including Pakistan. Every third man in Pakistan falls below the poverty line1. Moreover, the budget deficit has also been a serious issue throughout the history of Pakistan‟s economy. The persistent budget deficit is the constant source of increasing poverty and deterioration of income distribution. Since deficit is financed by increasing indirect taxes and money supply, it causes the reduction in purchasing power and leads the masses towards poverty [Arif and Farooq (2011)]. Therefore, it is a dire need of the economy to have a good public policy such that it could reduce budget deficit, alleviate poverty and redistribute income. Malik and Saqib (1985) suggest that the resources of the economy can be distributed equally only through appropriate changes in the tax system. Fiscal policy can have a significant influence on removing the gap between haves and havenots both directly and indirectly. It directly affects the disposable income of individuals, whereas affecting their future earning capacities indirectl

Snake Bite: Clinical Profile and Evaluation of Effective Anti-Snake Venom Dose

Background: To determine the optimal dose of antisnake venom required to treat hemotoxic snake bite more effectively. Methods: In this interventional study, out of 52 patients 46 patients with the features of systemic envenomation .i.e. deranged coagulation profile, nephrotoxic or neurotoxic features were assessed clinically and through laboratory tests, while 06 patients had no feature of envenomation. Patients with systemic envenomation were given Antisnake venom. Results: Hemotoxicity was the most common clinical manifestation of snake bite i.e. 39 patients of hemotoxic envenomation, 4 with neurotoxic features while 03 patients had mixed toxicity i.e. hemotoxic, neurotoxic and nephrotoxic. 12 patients responded to single dose of 06 vials (10 ml each vial; total dose of 60 ml), 28 patients required further dose of anti snake venom after initial dose of 6 vials while 06 patients received even higher dose of anti snake venom i.e. 18 vial (180 ml) with blood transfusion. Of these 06 patients, 02 required mechanical ventilation, 02 with nephrotoxicity were referred to dialysis unit, and 02 mortalities were encountered, one with intracranial bleed and other with mixed toxicity and delayed presentation of patient. Conclusion: Most patients with envenomation require higher dose of anti snake venom . An increase in morbidity and mortality is mainly due to delayed presentation after snake bite and under dosage of ASV

Efficient Removal of Chromium and Lead from Tanneries Effluent of Korangi Industrial Area Karachi Using Rotating Disk Mesh as Anode Electrode Electrocoagulation

The aim of this study was to examine the best electrode design for the electrocoagulation process with the best removal performance, reduced passivation on the electrode surface, and lower energy consumption requirements for removing Chromium (Cr) and Lead (Pb) from leather tannery effluent. Three different electrodes were compared: non-rotating disk electrode (NRDE), rotating disk electrode (RDE) and rotating disk mesh electrode (RDME). All electrodes were used to observe a reduction in passivation on the electrode surface and its effects on the removal performance of Cr and Pb. The material used for the electrodes was iron. The maximum removal efficiency obtained was Cr = 87.9% and Pb = 97.5% under the following operating conditions: pH = 7, treatment time = 90 min, current density = 6.57 mA/cm², and RPM = 80. The results show that the electrical energy requirement for treating chromium and lead using RDME was 4.5 kWh/m³, which was found to be lower than the energy requirement observed in various other studies for treating tannery effluent. According to the results, RDME shows the highest removal performance with lower specific energy consumption compared to NRDE and RDE. RDME can be efficiently employed at a larger scale for treating leather tannery effluent

The impact of psychological distance to climate change and urban informality on adaptation planning

Climate change adaptation planning involves adjusting to the impacts of climate change and taking action to mitigate its adverse effects. Psychological distance, the separation between one's self-perception and actual events, can play a significant role in an individual's readiness to adapt to climate change impacts. This study aims to investigate the socioeconomic factors associated with psychological distance to climate change in formal and informal settlements of Lahore, Pakistan. Using a literature review, data indicators were selected and grouped into the psychological distance dimensions of spatial, temporal, social, and hypothetical. A questionnaire survey was conducted in the study area, resulting in a total of 400 responses. Descriptive statistics and sampled paired t-tests were used to measure differences between responses from formal and informal communities, and multivariate regression models were developed to identify socioeconomic factors associated with psychological distance to climate change. The results of the study indicate a significant difference between formal and informal settlements in spatial distance and hypothetical dimensions. Additionally, household size, average household income, number of children, and past experiences with extreme weather conditions were found to be significant factors. The study recommends that these factors be taken into account when engaging with the public, communicating risks, and devising relevant policies for effective adaptation planning

Formation of TiO2 nanostructures modified Eumelanin films with enhanced properties for biopolymer implementations

Thin films of hybrid melanin-TiO2 nanoparticles (eumelanin: TiO2) deposited from solution by electro-spray were accurately inspected to unveil modified structural and electronic properties for device implementations. Based on the reorganization of the melanin electronic valence orbital, among other interesting behaviors, we observed up to a two orders increase in the absorption coefficient in the visible range. Furthermore the redshifted absorption features, disclose that the extended π- stacking of oligomers is mainly responsible for the tunability of the optical gap as confirmed by photoluminescence. TiO2 nanostructures via oxidative polymerization, further improve the oligomeric character observed by means of Raman scattering. Finally, the photocatalytic activity of TiO2 nanoparticles helps the saturation of shallow trap states in melanin structure and consequently enhances the charge carrier transport

Cloreto de potássio como condicionador osmótico nutritivo de sementes para aumentar a tolerância ao sal em milho

The objective of this work was to determine if KCl could be a useful nutrient primer for safe seed germination in maize crop under salt stress conditions. Seed priming was done using 50 mmol  L-1 of muriate of potash, and germination and seedling growth were evaluated after salt stress with NaCl up to 50 mmol L-1. Another set of seeds was tested under the same salt stress conditions without priming. Under salinity stress, germination percentage, germination rate index, germination coefficient, and seedling vigor indexes were higher in primed seeds. In unprimed seeds, mean germination time increased, while the germination rate index and the fresh and dry matter mass decreased more sharply with salinity stress. The Na/K ratio was higher in unprimed seeds.O objetivo deste trabalho foi determinar se o KCl pode constituir um condicionador osmótico nutritivo, para a germinação segura da cultura do milho em condições de estresse salino. O osmocondicionamento das sementes foi feito com 50 mmol L‑1 de muriato de potássio, e a germinação e o desenvolvimento de plântulas foram avaliados após estresse salino por NaCl, até 50 mmol L‑1. Outro lote de sementes foi testado nas mesmas condições de estresse salino, sem condicionamento. Em condições de estresse salino, a percentagem de germinação, o índice da taxa de germinação, o coeficiente de germinação e os índices de vigor das plântulas foram maiores nas sementes condicionadas. Em sementes não condicionadas, o tempo médio de germinação aumentou, e o índice da taxa de germinação e as massas de matéria fresca e seca diminuíram mais acentuadamente com o estresse salino. A relação Na/K foi maior nas sementes não condicionadas

Twelve-month observational study of children with cancer in 41 countries during the COVID-19 pandemic

Introduction Childhood cancer is a leading cause of death. It is unclear whether the COVID-19 pandemic has impacted childhood cancer mortality. In this study, we aimed to establish all-cause mortality rates for childhood cancers during the COVID-19 pandemic and determine the factors associated with mortality. Methods Prospective cohort study in 109 institutions in 41 countries. Inclusion criteria: children <18 years who were newly diagnosed with or undergoing active treatment for acute lymphoblastic leukaemia, non-Hodgkin's lymphoma, Hodgkin lymphoma, retinoblastoma, Wilms tumour, glioma, osteosarcoma, Ewing sarcoma, rhabdomyosarcoma, medulloblastoma and neuroblastoma. Of 2327 cases, 2118 patients were included in the study. The primary outcome measure was all-cause mortality at 30 days, 90 days and 12 months. Results All-cause mortality was 3.4% (n=71/2084) at 30-day follow-up, 5.7% (n=113/1969) at 90-day follow-up and 13.0% (n=206/1581) at 12-month follow-up. The median time from diagnosis to multidisciplinary team (MDT) plan was longest in low-income countries (7 days, IQR 3-11). Multivariable analysis revealed several factors associated with 12-month mortality, including low-income (OR 6.99 (95% CI 2.49 to 19.68); p<0.001), lower middle income (OR 3.32 (95% CI 1.96 to 5.61); p<0.001) and upper middle income (OR 3.49 (95% CI 2.02 to 6.03); p<0.001) country status and chemotherapy (OR 0.55 (95% CI 0.36 to 0.86); p=0.008) and immunotherapy (OR 0.27 (95% CI 0.08 to 0.91); p=0.035) within 30 days from MDT plan. Multivariable analysis revealed laboratory-confirmed SARS-CoV-2 infection (OR 5.33 (95% CI 1.19 to 23.84); p=0.029) was associated with 30-day mortality. Conclusions Children with cancer are more likely to die within 30 days if infected with SARS-CoV-2. However, timely treatment reduced odds of death. This report provides crucial information to balance the benefits of providing anticancer therapy against the risks of SARS-CoV-2 infection in children with cancer

Prognostic model to predict postoperative acute kidney injury in patients undergoing major gastrointestinal surgery based on a national prospective observational cohort study.

Background: Acute illness, existing co-morbidities and surgical stress response can all contribute to postoperative acute kidney injury (AKI) in patients undergoing major gastrointestinal surgery. The aim of this study was prospectively to develop a pragmatic prognostic model to stratify patients according to risk of developing AKI after major gastrointestinal surgery. Methods: This prospective multicentre cohort study included consecutive adults undergoing elective or emergency gastrointestinal resection, liver resection or stoma reversal in 2-week blocks over a continuous 3-month period. The primary outcome was the rate of AKI within 7 days of surgery. Bootstrap stability was used to select clinically plausible risk factors into the model. Internal model validation was carried out by bootstrap validation. Results: A total of 4544 patients were included across 173 centres in the UK and Ireland. The overall rate of AKI was 14·2 per cent (646 of 4544) and the 30-day mortality rate was 1·8 per cent (84 of 4544). Stage 1 AKI was significantly associated with 30-day mortality (unadjusted odds ratio 7·61, 95 per cent c.i. 4·49 to 12·90; P < 0·001), with increasing odds of death with each AKI stage. Six variables were selected for inclusion in the prognostic model: age, sex, ASA grade, preoperative estimated glomerular filtration rate, planned open surgery and preoperative use of either an angiotensin-converting enzyme inhibitor or an angiotensin receptor blocker. Internal validation demonstrated good model discrimination (c-statistic 0·65). Discussion: Following major gastrointestinal surgery, AKI occurred in one in seven patients. This preoperative prognostic model identified patients at high risk of postoperative AKI. Validation in an independent data set is required to ensure generalizability

Global disparities in surgeons’ workloads, academic engagement and rest periods: the on-calL shIft fOr geNEral SurgeonS (LIONESS) study

: The workload of general surgeons is multifaceted, encompassing not only surgical procedures but also a myriad of other responsibilities. From April to May 2023, we conducted a CHERRIES-compliant internet-based survey analyzing clinical practice, academic engagement, and post-on-call rest. The questionnaire featured six sections with 35 questions. Statistical analysis used Chi-square tests, ANOVA, and logistic regression (SPSS® v. 28). The survey received a total of 1.046 responses (65.4%). Over 78.0% of responders came from Europe, 65.1% came from a general surgery unit; 92.8% of European and 87.5% of North American respondents were involved in research, compared to 71.7% in Africa. Europe led in publishing research studies (6.6 ± 8.6 yearly). Teaching involvement was high in North America (100%) and Africa (91.7%). Surgeons reported an average of 6.7 ± 4.9 on-call shifts per month, with European and North American surgeons experiencing 6.5 ± 4.9 and 7.8 ± 4.1 on-calls monthly, respectively. African surgeons had the highest on-call frequency (8.7 ± 6.1). Post-on-call, only 35.1% of respondents received a day off. Europeans were most likely (40%) to have a day off, while African surgeons were least likely (6.7%). On the adjusted multivariable analysis HDI (Human Development Index) (aOR 1.993) hospital capacity &gt; 400 beds (aOR 2.423), working in a specialty surgery unit (aOR 2.087), and making the on-call in-house (aOR 5.446), significantly predicted the likelihood of having a day off after an on-call shift. Our study revealed critical insights into the disparities in workload, access to research, and professional opportunities for surgeons across different continents, underscored by the HDI