Stock price reaction to earnings announcement: the case of an emerging market

In an efficient stock market stock prices instantaneously and accurately adjust to new information. This paper conducts an event study analysis on an emerging market namely the Karachi Stock Exchange (KSE) by investigating the stock price reaction to public announcement of quarterly after tax profit by listed firms. By employing 5 year data on stock prices from January 2004 to August 2008 for 114 non financial firms we found that there is no abnormal return post earnings announcement. Moreover the study provides evidence that there is a bigger element of surprise in bad news than in good news as the market reaction to bad news is stronger.Event Study, Earnings Announcement, Emerging Markets

Effect of monosodium glutamate additive on the performance of dialysis membrane

A novel dialysis membrane with monosodium glutamate (MSG) as an additive has been fabricated and its performance evaluated in terms of urea clearance. Nine formulations of casting solutions had been designed with 20% cellulose acetate, and different ratio of formic acid/MSG. The result shows that MSG based membrane with the 6 wt% of MSG, achieved the best urea clearance, 53.20%. SEM images illustrated that the increment of MSG in casting solution tend to promote macrovoids formation and finally transit to finger like structure. However, when the amount of MSG is further increased beyond 6 wt%, the urea clearance reduced and the macrovoids structure disappeared. Thus, enlarged finger like structure favors the dialysis process

ETS (Efficient, Transparent, and Secured) Self-healing Service for Pervasive Computing Applications

To ensure smooth functioning of numerous handheld devices anywhere anytime, the importance of self-healing mechanism cannot be overlooked. Incorporation of efficient fault detection and recovery in device itself is the quest for long but there is no existing self-healing scheme for devices running in pervasive computing environments that can be claimed as the ultimate solution. Moreover, the highest degree of transparency, security and privacy attainability should also be maintained. ETS Self-healing service, an integral part of our developing middleware named MARKS (Middleware Adaptability for Resource discovery, Knowledge usability, and Self-healing), holds promise for offering all of those functionalities

Technology organization environment framework in cloud computing

Cloud Computing is a rapidly emerging technology over the last few years, that has abolished the burden of purchasing heavy hardware and software. Cloud computing has been advantageous to Small and Medium-sized Enterprises (SMEs), though many SMEs have not adopted to delve into its appealing benefits. To increase the cloud adoption rate in these Enterprises, the most important thing is to understand the aspects which influence the cloud adoption. The article focuses on these factors, which influence the use of cloud services by establishing the three layer hierarchical framework based on the grounded on the Technology Oriented Environmental (TOE) framework through systematic literature review. Because cloud-based solutions offer numerous benefits for companies, they have precious cloud determinants. This paper therefore took into account the Technology Organization Environment TOE model for Cloud Computing adoption. In addition, the questionaries designed at the end also indicate the significant connection in the decision of adoption between three context of TOE. Moreover, the designed questionaries has been used for the analysis of cloud computing adoption in Bangladeshi SMEs

A brief review: security issues in cloud computing and their solutions

Cloud computing is an Internet-based, emerging technology, tends to be prevailing in our environment especially in the field of computer sciences and information technologies which require network computing on large scale. Cloud Computing is a shared pool of services which is gaining popularity due to its cost, effectiveness, avilability and great production. Along with its numerous benefits, cloud computing brings much more challenging situation regarding data privacy, data protection, authenticated access, Intellectual property rights etc. Due to these issues, adoption of cloud computing is becoming difficult in today’s world. In this review paper, various security issues regarding data privacy and reliability, key factors which are affecting cloud computing, have been addressed and also suggestions on particular areas have been discussed

Systematic review on evaluating planning process in agile development methods

Agile development methods have been catering the need of faster delivery of theever-demanding domain of software engineering. These methods are able to deliver value to users and businesses via fast, reliable, and repeatable process.  Planning requirements and processes takes the driving seat in a dynamic environment because the value proposition rapidly changes. This paper exhibits asystematic literature review of planning processes implementedby various agile methods in order to find the best suited agile method in terms of robust planning. Keywords: It was found that Scrum is the best suited agile method for planning processes

High performance blended membranes using a novel preparation technique

The possibility of applying novel microwave (MW) technique in the dissolution of polyethersulfone (PES) and lithium halides in aprotic solvent is studied. The lithium halides additives used are lithium fluoride (LiF), lithium bromide (LiBr) and lithium chloride (LiCl) and a comparison is made with conventional method. PES was dissolved in dimethylformamide (DMF) in the single solvent whilst for the double solvent (DS); PES was dissolved in a mixture of two different solvents DMF and acetone. The concentrations of lithium halide in both solvents were varied from 1 to 5 wt%. In order to illuminate the mechanism through which lithium halide influences the kinetic membrane performance in both techniques, rheological, FTIR, contact angle and water uptake analysis were performed. The performances of the membranes were evaluated in terms of pure water permeation (PWP), permeation rate (PR) and separation rates of various polyethylene glycols. Result revealed that the hollow fiber MW membrane with the 3 wt% LiBr additive exhibits both high permeation rates of 222.16 Lm-2hr-1 and separation rates of 99% and molecular weight cutoff (MWCO) of 2.6 kDa. In general, the MW membranes exhibited higher permeation and separation rates compared to conventional electrothermal heating (CEH) membranes. The FTIR, contact angle and water uptake measurement revealed that the LiCl and LiBr have enhanced the hydrophilic properties of the PES membranes thus producing membrane with high permeation and separation rates

The role of Islamic finance in enhancing financial inclusion in organization of Islamic cooperation (OIC) countries

The core principles of Islam lay great emphasis on social justice, inclusion, and sharing of resources between the haves and the have nots. Islamic finance addresses the issue of"financial inclusion"or"access to finance"from two directions -- one through promoting risk-sharing contracts that provide a viable alternative to conventional debt-based financing, and the other through specific instruments of redistribution of the wealth among the society. Use of risk-sharing financing instruments can offer Shariah-compliant microfinance, financing for small and medium enterprises, and micro-insurance to enhance access to finance. And redistributive instruments such as Zakah, Sadaqat, Waqf, and Qard-al-hassan complement risk-sharing instruments to target the poor sector of society to offer a comprehensive approach to eradicating poverty and to build a healthy and vibrant economy. Instruments offered by Islam have strong historical roots and have been applied throughout history in various Muslim communities. The paper identifies gaps currently existing in Organisation of Islamic Cooperation (OIC) countries on each front, that is, Shariah-compliant micro-finance and financing for small and medium enterprises and the state of traditional redistributive instruments. The paper concludes that Islam offers a rich set of instruments and unconventional approaches, which, if implemented in true spirit, can lead to reduced poverty and inequality in Muslim countries plagued by massive poverty. Therefore, policy makers in Muslim countries who are serious about enhancing access to finance or"financial inclusion"should exploit the potential of Islamic instruments to achieve this goal and focus on improving the regulatory and financial infrastructure to promote an enabling environment.Access to Finance,Debt Markets,Banks&Banking Reform,Emerging Markets,Islamic Finance

Facts behind the Façade: Is There More to Dieting Than Meets the Eye?

This paper extends a previous qualitative research on female yo-yo dieters/weight cyclers in the UK. Out of nine participants in the previous study, this investigation has made use of feminist perspectives to further analyze the data of four participants that was previously derived via thematic analysis. Feminist analysis revealed that initiation of frequent dieting episodes is not merely to lose weight; rather complex control and identity issues as well as negative emotions play a role in triggering yo-yo dieting in some women. Furthermore, the similarity of these manifestations to eating disorders is discussed