Determinant of Inflation in Pakistan: An Econometrics Analysis, Using Johansen Co Integration Approach

The main object behind the study is to explore the long run and short run dynamics of inflation in case of Pakistan. For this purpose study used annual data 1971 to 2012. Johansen co integration approach is used to check long run equilibrium while ECM (Error Correction Model) is used to check short run dynamics. The result highlighted GDP, M2, energy crises, import and current government expenditure, output gap and adaptive expectation create inflation while development expenditure negatively corrected with inflation. The study concluded that in Pakistan demand side and supply side inflation persist. Key Word: Inflation, Long run and Short ru

Determinants of Dividend with Industry wise Effect: Evidence from KSE 100 Index.

This research have identified the industry-wise effect of dividend policy among non-financial listed companies of KSE – 100 Index. For this purpose data from 2006 to 2011 for 53 companies of different industries i.e. Fuel and Energy Sector, Chemicals Sector, Cement Sector, Engineering Sector, Textiles Sector and Transport and Communication Sector have been taken. Multiple Regression Analysis has been used to identify the prominent determinant of Dividend and Industry effect was captured through incorporating six dummy variables for said industries. Results highlighted that apart from profitability most powerful determinant of dividend there are other factors of life cycle, tangibility of assets are prominent whereas capital structure, size of firm and cash flows per share is not significant determinant of dividend. Apart from these variable, Industry-wise effect shows that all the above significant determinants remains significant within industry except textile sector

Short run and Long run Dynamics of Macroeconomic Variables and Stock prices: Case Study of Karachi Stock Exchange.

The prime object of the study is to find the long run relationship between macroeconomic variables and prices of shares in Karachi stock exchange in Pakistan context. For this purpose the study considers the monthly data of several macroeconomic variables such as real foreign exchange rate, foreign exchange reserve, industrial production index, whole sale price index, gross fixed capital formation, and broad money M2 , these variables are obtain from 1987 to 2008 period. For the purpose of finding long run relationship among the variables Johansen co-integration test is applied. The results show that after the reforms in 1991 the influence of foreign exchanges rate and foreign exchange reserve effects significantly to stock market. The result also shows that there was positive relationship between GFCF and M2 while WPI is negative relationship with stock price. The result also highlighted that interest rate is insignificant with stock prices in the long run. The results of variance decompositions revealed that out of seven macroeconomic variables inflation showed greater forecast error for KSE 100 Index

Allelopathic inhibition of germination, seedling growth and cell division of selected plant species by Calotropis procera (Ait.) Ait.

Calotropis procera (Ait.) Ait. is perennial medicinal obnoxious shrub growing in Pakistan up to 1500 m altitude. Hot and water aqueous extracts from leaves and young stems of C. procera were used against Pennisetum glaucum (Linn.) R. Br., Setaria italica (Linn.) P. Beauv., Brassica campestris Linn. and Lactuca sativa L. under laboratory condition. It was seen that germination, seedling growth, fresh and dry biomass reduced in concentration dependent manner. It was observed that the allelopathic effects depended upon the tested species, growth parameter measured, soaking duration and concentration of the donor plant material. The C. procera litter incorporated into the growth medium inhibited the test species used. The C. procera extracts from leaves were more inhibitory than stem extracts. The tendency of inhibition was radical growth > germination > plumule growth suggesting radicle growth to be a better measure of allelopathy. Leaf extracts significantly reduced division and size of cells. It is suggested that aqueous extract from C. procera can be further assessed against microbes and weed under laboratory and field condition

Determinants of Dividend with Industry-wise Effect – Evidence from KSE 100 Index

This research have identified the industry-wise effect of dividend policy among non-financial listed companies of KSE – 100 Index. For this purpose data from 2006 to 2011 for 53 companies of different industries i.e. Fuel and Energy Sector, Chemicals Sector, Cement Sector, Engineering Sector, Textiles Sector and Transport and Communication Sector have been taken. Multiple Regression Analysis has been used to identify the prominent determinant of Dividend and Industry effect was captured through incorporating six dummy variables for said industries. Results highlighted that apart from profitability most powerful determinant of dividend there are other factors of life cycle, tangibility of assets are prominent whereas capital structure, size of firm and cash flows per share is not significant determinant of dividend. Apart from these variable, Industry-wise effect shows that all the above significant determinants remains significant within industry except textile sector

Determinant of Return on Assets and Return on Equity and Its Industry Wise Effects: Evidence from KSE (Karachi Stock Exchange)

The prime purpose of this research is to find out that from the components of Dupont identity of Return on Equity which component is most consistent or volatile among profit margin, total assets turnover, and equity multiplier in Fuel and Energy Sector, Chemicals Sector, Cement Sector, Engineering Sector, Textiles Sector, and Transport and Communication Sector of KSE 100 index. The purpose of the study was served by taking data from 2004 to 2009 of 51 companies (falling under six mentioned industries) of KSE 100 as Paradigm of Panel Data. The F-Statistics of One Way ANOVA (Analysis of Variance) show that it is Assets Turnover which significantly varies from industry to industry whereas Equity Multiplier and Profit Margin are not much volatile among indifferent industries. Moreover, Adjusted R Square in Panel OLS Analysis was confirming Industry Effect on Newly established firms that they can have the benefit of profitability if they are from Fuel and Energy Sector, Cement Sector and Transport and Communication Sector whereas others Sectors such as Chemicals Sector, Engineering Sectors, and Textiles Sectors does not have that leverage.

Exchange rate Volatility and Interest rate Risk: In the case of Pakistan.

The study examines the effects of volatility of exchange rate volatility on interest rates and inflation. For this purpose the study used monthly data over the period January 1990 to December 2010. To explore the volatility of exchange rate study used the ARCH (Auto Regressive Conditional Heterosidasticity) and GARCH (Generalized Auto regressive conditional Heterosidasticity). The result shows that positive association between exchange rate risk and interest rate in the form risk premia. The result of the study fulfills the interest parity condition and purchasing power parity

Circuit Design of Programmable Logic and Interconnect Blocks using Spin Transfer Torque RAM for Non-Volatile FPGAs

Most of the Field-Programmable Gate Arrays (FPGAs) are currently SRAM based. The conventional SRAM has been the primary choice for memory storage in the Configurable Logic Blocks (CLBs) as well as for the configuration bits of the reconfigurable interconnects. However SRAM based FPGAs are volatile and needs an external non-volatile memory to store the configuration data. Also SRAM leakage currents increases as technology scales towards lower nodes. The use of non-volatile memories such as Spin-Transfer Torque (STT)-RAM helps to overcome the drawbacks of SRAM-based FPGAs without significant speed penalty. In this paper we present the design of simple non-volatile CLBs using STT-RAM technology. For verifying the design these CLBs have been programmed to implement various functions. The design has been simulated and verified using cadence tools in CMOS 40nm technology

Geographical Concentration of Rural Poverty in Bangladesh

This paper was presented at the dialogue on Mapping Poverty for Rural Bangladesh: Implications for Pro-poor Development. The dialogue was organised as part of CPD's ongoing agricultural policy research and advocacy activities with IRRI under the PETRRA project. The study reported geographical concentration of rural poverty in Bangladesh for 425 upazilas in 2000-01. The study measured and mapped incidence of poverty (using Headcount Index), intensity of poverty (using Poverty Gap Index) and severity of poverty (using Squared Poverty Gap Index). It has analyzed factors contributing to the spatial concentration of poverty. It is hoped that the findings of the study would be helpful in identifying target areas and priorities for agricultural R&D interventions and poverty reduction programmes.Poverty, Rural Poverty, Bangladesh

Observational Discoveries in Agile Methodologies and Extreme Programming

 The   In this study we have focused on various methodologies of nimble programming advancement, for example, Extreme Programming, Crystal Clear, Scrum, Lean programming improvement and some others methods related to category. As there are several methods related to agile development, but we have mainly focused on some of the important methodologies, discovered so far []. This study also reveals the criticism over some of the agile methodologies, based on some of its parameters, while in some situations favor is given to the traditional methodologies. We have adopted quantitative and qualitative approaches to carry out this work, the major audience involved were professionals, software developers who were working in the industry, and were the real practitioners of these methodologies, by taking advantage of their experiences we have considered their suggestions, ideas and experiences. Any software development project involves certain parameters: productivity, quality, cost and schedule. These project parameter are at the main theme of our study, based on it we have discovered that how agile methods may influence the software development industry