Impact of Investment Efficiency on Cost of Equity: An Empirical Study on Shariah and Non Shariah Compliance Firms Listed on Pakistan Stock Exchange

The primary purpose of the study is to investigate the impact of investment efficiency on cost of the equity of firm. This study further explores whether the relationship of investment efficiency and cost of equity is different for the shariah and non shariah compliance firms. Using sample of 235 non financial firms listed at Pakistan stock exchange (PSX) for the period of 2005-2015, the results revealed that there is a negative significant influence of investment efficiency on the cost of equity. This signifies that investors required rate of return increases with the increase in the level of investment inefficiency. We also found out that the negative association of investment efficiency and cost of equity is weaker for the shariah compliance firms than for non shariah compliance firms. The results of our study also provided evidences that overinvestment is positively associated with the cost of equity. But we are unable to find significant impact of under investment on the cost of equity, this pointed that over investment is considered more serious problem for investors as compared to the underinvestment. The results furnished empirical support to our argument that shariah acts as a mechanism to lower bankruptcy and leverage cost hence reduce the cost of equity. The findings are helpful for academicians, regulators, investors and Shariah board. Further research may be conducted in different economies in order to generalize the findings

Identification and characterization of potential NBS-encoding resistance genes and induction kinetics of a putative candidate gene associated with downy mildew resistance in Cucumis

<p>Abstract</p> <p>Background</p> <p>Due to the variation and mutation of the races of <it>Pseudoperonospora cubensis</it>, downy mildew has in recent years become the most devastating leaf disease of cucumber worldwide. Novel resistance to downy mildew has been identified in the wild <it>Cucumis </it>species, <it>C. hystrix </it>Chakr. After the successful hybridization between <it>C. hystrix </it>and cultivated cucumber (<it>C. sativus </it>L.), an introgression line (IL5211S) was identified as highly resistant to downy mildew. Nucleotide-binding site and leucine-rich repeat (NBS-LRR) genes are the largest class of disease resistance genes cloned from plant with highly conserved domains, which can be used to facilitate the isolation of candidate genes associated with downy mildew resistance in IL5211S.</p> <p>Results</p> <p>Degenerate primers that were designed based on the conserved motifs in the NBS domain of resistance (R) proteins were used to isolate NBS-type sequences from IL5211S. A total of 28 sequences were identified and named as cucumber (<it>C. sativus </it>= CS) resistance gene analogs as CSRGAs. Polygenetic analyses separated these sequences into four different classes. Quantitative real-time polymerase chain reaction (qRT-PCR) analysis showed that these CSRGAs expressed at different levels in leaves, roots, and stems. In addition, introgression from <it>C. hystrix </it>induced expression of the partial CSRGAs in cultivated cucumber, especially CSRGA23, increased four-fold when compared to the backcross parent CC3. Furthermore, the expression of CSRGA23 under <it>P. cubensis </it>infection and abiotic stresses was also analyzed at different time points. Results showed that the <it>P. cubensis </it>treatment and four tested abiotic stimuli, MeJA, SA, ABA, and H₂O_2,triggered a significant induction of CSRGA23 within 72 h of inoculation. The results indicate that CSRGA23 may play a critical role in protecting cucumber against <it>P. cubensis </it>through a signaling the pathway triggered by these molecules.</p> <p>Conclusions</p> <p>Four classes of NBS-type RGAs were successfully isolated from IL5211S, and the possible involvement of CSRGA23 in the active defense response to <it>P. cubensis </it>was demonstrated. These results will contribute to develop analog-based markers related to downy mildew resistance gene and elucidate the molecular mechanisms causing resistance in IL5211S in the future.</p

Evaluation of the effects of highly saline and warm seawaters on corrosivity of marine assets

In marine environment, the corrosion rate of metallic structures vary remarkably with the change in climatic conditions and seawater composition across geographical locations. The corrosion in brackish and polluted seawaters is even more complicated due to the presence of different chemical species and untreated effluents. The complex correlation between the above average temperature and salinity with the high nutrient content in polluted seawater tends to accelerate the rate of biological activities and microbiological induced corrosion (MIC). This research paper has investigated the short-term corrosion of cupronickel (Cu-Ni) 90/10 alloy, and mild steel in the highly saline and warm seawaters. Field experiments for general corrosion under fully immersed condition were conducted at two site locations, represented as site 1 for pollutantrich seawaters and site 2 for natural seawaters in the North Indian Ocean. The experiments were conducted for a period of up to two months and coupons for each metal alloy were recovered from both sites after an exposure period of 15, 30, 45, and 60 days, respectively. In both environmental conditions, significantly high mass loss and corrosion rates were recorded for each metal alloys. Despite the same temperature of seawater and immersion depth at both sites, average corrosion losses at site 1 were found to be 5 and 3 times higher than that of site 2 for Cu-Ni alloy 90/10, and mild steel coupons, respectively

Frequency of Gγ-globin promoter −158 (C>T) XmnI polymorphism in patients with homozygous/compound heterozygous beta thalassaemia

BackgroundResponse to hydroxyurea therapy in homozygous or compound heterozygous beta thalassaemia (BT) has been reported as more favourable in the presence of XmnI polymorphism. The prevalence of XmnI polymorphism may vary with BT phenotypes and genotypes, and differs geographically in distribution. Prevalence of XmnI polymorphism is not known in northern Pakistan.ObjectiveTo determine the frequency of Gγ-globin promoter −158 (C>T) XmnI polymorphism (XmnI polymorphism) in patients with homozygous or compound heterozygous beta thalassaemia.MaterialsPolymerase chain reaction (PCR) for common beta thalassaemia mutations and Gγ-globin promoter −158 (C>T) XmnI polymorphism was performed on 107 blood samples of transfusion dependent beta thalassaemia (BT) patients in Pakistan. One hundred samples of unrelated BT traits and 94 samples of healthy subjects as controls were also analysed for BT mutations and XmnI polymorphism.ResultsOut of 301 DNA samples, XmnI polymorphism was detected in 71(24%); in normal controls, XmnI polymorphism was detected in 34/94 (36%) subjects; while in homozygous/compound heterozygous BT, it was detected in 14/107(13%) patients (Fisher’s exact test, p=.0002). In heterozygous BT group, XmnI polymorphism was detected in 23/100 subjects (Fisher’s exact test, p=.03 with normal controls, and p=.049 with homozygous/compound heterozygous BT). The most common BT genotype was Frame Shift (Fr) 8–9/Fr 8–9, and none of the patients with this genotype had XmnI polymorphism. The second most common genotype was IVSI-5/IVSI-5; 4/26 (15%). Cases with this genotype had XmnI polymorphism.ConclusionXmnI polymorphism in homozygous/compound heterozygous BT group is 13%. The most common genotype associated with XmnI polymorphism was IVSI-5/IVSI-5

Diversified Traditional Wooden Implements Used in Agriculture and Animal Husbandry Practices in Ladakh

The traditional wooden tools are the necessities of the daily life of the people of Ladakh region and are linked directly with geographical conditions of the region. A lot of diversity in the wooden tools used by the tribal farmers of Ladakh since ancient times is observed. The tools are made up of different, locally available materials in a unique fashion by the localites. These wooden implements are preferred over modern one’s because of their multipurpose uses. Secondly these traditional implements find wide applicability in the region because of steep terrain, where the scope of mechanized farm implements is very limited. In the present study few important traditional tools of Ladakh have been presented. The important tools viz; chepo, shak, zungba, rzgeem, saddle, khem, khaczhay, thougk, gourgur, butter churner, plough, smeing, rbhat, grookook etc. have been described in detail in this paper

Formulation and Evaluation of Glucosamine Sulphate Potassuim Chloride 1500 Mg and Methyl Sulphonyl Methene 200 Mg Film Coated Tablet

Methyl Sulphonyl methane (MSM) is an organ sulfur compound with the formula (CH3)2SO2. Glucosamine is naturally hygroscopic is nature when exposed to air and moisture and degradable whether in the form of tablet or raw material.&nbsp; To overcome this problem Glucosamine needs to bond with suitable stabilizer.&nbsp; Glucosamine Sulphate in the form of Salt i.e. Sodium chloride and potassium chloride are stable. The normal dose of Glucosamine is 500-1500 mg TID.&nbsp; It is very difficult to compress the tablet at the label claim 1500 mg because some additives are also required in the formulation and the average weight is 1800 mg.&nbsp; As per the pre formulation studies it is concluded that tablet average weight less than 70 mg are very difficult to compress and more than 1500 mg are difficult to swallow in adult patient.&nbsp; Glucosamine stimulates the formation or manufacture of collagen, the protein portion of the fibrous substance that holds joints together and provides a shock-absorbing cushion, as a person ages, the cartilage that cushions the joints often loses its ability to support healthy cellular growth. This condition, called osteoarthritis, often leads to rough bones that rub together and cause distress with every twist or bend.&nbsp; In this condition patient regularly required the Glucosamine tablet in 1500 mg three times a day. But it’s very difficult to compress the tablet at huge weight because D tooling compression machine have maximum limit is 1500 mg. For such critical formulation weight cam is adjusted in lower direction to increase the weight and feeding of granules in feed frame through force feeder resolve the dissolution problem. This tablet is prepared by wet granulation method by using Non Aqueous binding showed good results physical evaluation parameters and chemical parameters such as Assay, and Dissolution values. The granules are lubricated using suitable lubricants / Glidant / Antiadhrants were good in their flow properties. Assay and dissolution studies were conducted by the HPLC method. &nbsp

Comparison of Garden Soil with Nitrogen and Potassium for Growing Lettuce (Lactuca sativa L.) in Glass House.

The experiment was conducted during the year 2019-20 by Vegetable Section, Agriculture Research Station (ARS) Baffa Mansehra to compare garden soil with nitrogen (Urea) and potassium (Murate of Potash) for lettuce production in glass house. Lettuce is an important summer off-season and high valued crop cultivated at District Mansehra in the months of July-August. The produce is transported to other metropolises with handsome earning,  but excessive use of minerals and synthetic fertilizers may render the produce less profitable in one or another way. Hence this experiment was designed to compare garden soil with  nitrogen and potassium doses.  It is evident from the statistical analysis that garden soil has a significant effect on  number of leaves, leaf area, seed per plant, yield per plant and yield per acre. Seed production is noticeable for garden soil when the prevailing temperature during seed formation was 250C.  In terms of leaf area maximum leaf area 576.10 cm2was recorded for garden soil while minimum leaf area 303.43 cm2 was recorded with nitrogen applied @ 200 kg ha-1 and potassium applied @ 100 kg ha-1 respectively. Maximum number of leaves 28.03 was recorded for garden soil while the minimum number 21.96 was recorded for nitrogen applied @ 200 kg ha-1 and potassium applied @ 100 kg ha-1. Seed formation was successful with mean temperature 250C in glass house for 30 days, here again garden soil surpassed nitrogen and potassium with 4.03gm plant-1. Yield per plot 3.69 kg was recorded for garden soil and the minimum value 1.1843 kg was recorded for nitrogen and potassium applied @ 200 kg ha-1 nitrogen while potassium applied @ 100 kg ha-1. Garden soil gives maximum yield of 13600 kg acre-1 compared with the lowest production 6070.5 kg acre-1 of nitrogen and potassium applied @ 200 kg ha-1 nitrogen while potassium applied @ 150 kg ha-1.  Keywords:, Lettuce, garden soil, leaf area, seed production, glass house DOI: 10.7176/CEIS/14-2-06 Publication date:May 31st 202