Deficits and inflation; Are monetary and financial institutions worthy to consider or not?

AbstractInstitutions are important to analyze the relationship between deficits and inflation. This study examines whether deficits are inflationary or not in the presence of dependent central bank and fragile financial markets. A panel dataset has been used for eleven Asian countries from 1981 to 2010. Estimation results from system GMM show that deficits are inflationary for selected sample, while inflationary pressure of budget deficits is particularly stronger when financial markets are not fully developed and central banks are not free to follow their goals and objectives

Portfolio Management And Disposition Effect Empirical Evidence From Pakistan.

Kahneman and Tversky’s approach to preference under uncertainty is aversion to loss realization. This paper is an attempt to highlight this phenomenon with a unique approach. In order to beat the market fund managers are required to manage their portfolio at regular intervals. The tendency to sell the winners too early and ride the losers for long “disposition effect” can affect the Management decision of fund managers. This paper investigates the mediating role of disposition effect between mental accounting, aversion to regret, self control and portfolio Management. For this purpose we use the extended version of Shefrin and Statman framework and include Dyl’s tax consideration. In order to provide empirical evidence survey has been conducted from mutual fund managers.  CFA and Cronbach’s alpha is used to test the reliability of the instrument. AMOS tool is used to test the structure equation model for disposition effect and portfolio Management. Results confirmed that disposition effect plays significant role of mediator between mental accounting, aversion to regret, self control and portfolio Management. However tax consideration has direct loading on forward Management. It means that disposition effect plays significant role in decisions of fund managers; however investors are aware of tax consideration

Asymmetric capital structure speed of adjustment, equity mispricing and Shari\u27ah compliance of Malaysian firms

© 2020 Elsevier Inc. Traditionally, equity mispricing has been documented as an important determinant of speed of adjustment to target leverage levels. More recently, the impact of Shari\u27ah compliance has been shown to significantly affect capital structure decisions. In this paper, we explore the effect of equity mispricing in Shari\u27ah compliant (vs. non-compliant) firms. We conduct our study on a comprehensive sample of Malaysian firms from year 1998–2016. We show that established findings in the dynamic trade-off theory do not hold for Shari\u27ah compliant firms. Shari\u27ah compliant firms increase their reliance on equity financing at greater levels than non-compliant firms when they are above target levels and equities are overpriced. In contrast, for Shari\u27ah compliant firms below target levels and where equity is under-priced, the rate of adjustment is slower than non-compliant firms. Our findings suggest that managers of Shari\u27ah compliant firms are inclined to time the equity market when above target levels to capture the impact of lower costs of equity during periods of over-valuation of equity. However, those managers tend to be reluctant to resort to debt financing when below target leverage even in the presence of equity under-pricing

Theoretical Prediction of Cavitation in Radial Inflow Turbines at Design and off-Design Conditions

A theoretical method for the prediction of cavitation in hydraulic radial turbines is developed in this work. The method combines a steady, quasi-three dimensional analyses which are based on the streamline curvature technique with an approach for the prediction of cavitation based on the definition of "available" and "required" cavitation coefficients. A radial inflow turbine is selected as a test case to investigate the capability of the present method as a cavitation prediction tool at design and offdesign conditions. The effects of various operating conditions on the cavitation inception are examined at constant values of total head and turbine suction head. It has been found that cavitation is formed near the outlet when the turbine operated at the design speed. While at off-design speeds and flow rates, cavitation covers longer distances along suction and pressure surfaces

pH-Responsive Liposomes of Dioleoyl Phosphatidylethanolamine and Cholesteryl Hemisuccinate for the Enhanced Anticancer Efficacy of Cisplatin

The current study aimed to develop pH-responsive cisplatin-loaded liposomes (CDDP@PLs) via the thin film hydration method. Formulations with varied ratios of dioleoyl phosphatidylethanolamine (DOPE) to cholesteryl hemisuccinate (CHEMS) were investigated to obtain the optimal particle size, zeta potential, entrapment efficiency, in vitro release profile, and stability. The particle size of the CDDP@PLs was in the range of 153.2 ± 3.08-206.4 ± 2.26 nm, zeta potential was -17.8 ± 1.26 to -24.6 ± 1.72, and PDI displayed an acceptable size distribution. Transmission electron microscopy revealed a spherical shape with ~200 nm size. Fourier transform infrared spectroscopic analysis showed the physicochemical stability of CDDP@PLs, and differential scanning calorimetry analysis showed the loss of the crystalline nature of cisplatin in liposomes. In vitro release study of CDDP@PLs at pH 7.4 depicted the lower release rate of cisplatin (less than 40%), and at a pH of 6.5, an almost 65% release rate was achieved compared to the release rate at pH 5.5 (more than 80%) showing the tumor-specific drug release. The cytotoxicity study showed the improved cytotoxicity of CDDP@PLs compared to cisplatin solution in MDA-MB-231 and SK-OV-3 cell lines, and fluorescence microscopy also showed enhanced cellular internalization. The acute toxicity study showed the safety and biocompatibility of the developed carrier system for the potential delivery of chemotherapeutic agents. These studies suggest that CDDP@PLs could be utilized as an efficient delivery system for the enhancement of therapeutic efficacy and to minimize the side effects of chemotherapy by releasing cisplatin at the tumor site

Study the Corrosion Inhibition on the Iraqi Fuel Tanks using Cefoperazone Drug

Corrosion is one of the most important problems that face the petroleum industry, both production and refining, and cause damage to petroleum equipment, tanks, and transmission lines, and increasing maintenance costs. in this study ,  was  adding six concentrations of the drug expired Cefoperzone (Exp CEF) (50, 100, 200, 300, 400, and 500 ppm) to a Simulated Oil Well Water (SOWW), the inhibitive role of (Exp CEF)  drug was investigated to Reduce the corrosion risk of carbon steel. Four different temperatures were used to conduct electrochemical tests (303, 313, 323 and 333 K) to achieve the study. The study was then supported by an examination of the inhibited surface using field emission scanning electron microscopy with energy dispersive (FESEM) and (AFM). The results indicated occurring the inhibition by an anodic inhibitor that controls the dissolution of iron from steel gave the highest inhibition efficiency (IE%) by adding 500 ppm, while the calculation of polarization resistance (Rp) gave the highest resistance by 400 ppm through adsorption the added drug to show flakes shaped structures with decreasing surface roughness (Ra ) from 307.1 to 83.15  after inhibition. The calculation of adsorption isotherm confirmed the obeying of Langmuir adsorption isotherm by giving the coefficient of linear regression was about one in the range of 0.999 > R^2 > 0.995, with the spontaneous adsorption that estimated from the negative values of 〖∆H〗_ads^o and variation in the type of adsorption to be physically or chemically according to the added concentration because of the differential sign of 〖∆H〗_ads^o . The sign of 〖∆H〗_ads^o was positive that reflecting the increase in randomness at the metal/solution interface.

Chronic Renal Disease Prediction using Clinical Data and Different Machine Learning Techniques

Chronic Renal Disease (CRD) or Chronic Kidney Disease (CKD) is defined as the continuous loss of kidney function. It's a long-term condition in which the kidney or renal doesn't work properly, gets damaged and can't filter blood on a regular basis. Diabetes, high blood pressure, swollen feet, ankles or hands and other disorders can cause chronic renal disease. By gradual progression and lack of treatment, it can lead to kidney failure. A prior prognosis of CKD can nourish the quality of life to a higher range in such circumstances and can enhance the attribute of life to a larger province. Now a days, bioscience is playing a significant role in the aspect of diagnosing and detecting numerous health conditions. Machine Learning (ML) as well as Data Mining (DM) methods are playing the leading role in the realm of biosciences. Our objective is to predict and diagnose (CKD) with some machine learning algorithms. In this study, an attempt to diagnose chronic renal disease has been taken with four ML algorithms named XGBoost, Adaboost, Logistic Regression (LR) as well as Random Forest (RF). By using decision tree-based classifiers and analyzing the dataset with comparing their performance, we attempted to diagnose CKD in this study. The results of the model in this study showed prosperous indications of a better prognosis for the diagnosis of kidney diseases. Considering and contemplating the performance analysis, it is accomplished that Random Forest ensemble learning algorithm provides better classification performance than other classification methods.acceptedVersionPeer reviewe

Endothelial Cell-Derived TGF-β Promotes Epithelial-Mesenchymal Transition via CD133 in HBx-Infected Hepatoma Cells

Background: Hepatitis B-X Protein (HBx) encoded in Hepatitis B virus (HBV) is known to play a critical role in development and progression of HBV induced hepatocellular carcinoma (HCC). HBx interacts with and activates various cells in HCC microenvironment to promote tumor initiation, progression and invasion. In this study, we investigated how surrounding stromal cells interact with HBx-infected hepatoma cells by a series of in vitro co-culture studies.Methods: Huh7 hepatoma cells were cultured and transfected with the mammalian expression vector pGFP-HBx. Co-culture assays were performed between HBx-transfected Huh7 cells and conditioned media (CM) from stromal cells [endothelial cell lines (HUVECs) and hepatic stellate cell lines (LX2 cells)]. The effect of these interactions was studied by a series of functional assays like chemotaxis, invasion, and wound healing scratch assays. Also, quantitative real time (RT)-PCRs of the mesenchymal genes was performed in the hepatoma cells with and without the co-cultures. Hep3B cells with an integrated HBV genome were taken as positive controls.Results: HBx-transfected Huh7 cells cultured in presence of CM from HUVECs illustrated enhanced migration and tube formation as compared to HBx-transfected cells cultured alone or co-cultured with LX2 cells. HBx-transfected hepatoma cells incubated with CM from HUVECs also expressed mesenchymal genes including Thy1, CDH2, TGFβR1, VIM, and CD133. ELISAs revealed increased levels of TGF-β in CM from HUVECs. In comparison to unstimulated HBx-transfected Huh7 cells, TGF-β stimulated cells displayed increased invasive properties and mesenchymal gene expression. RT-PCR and flow cytometry analysis further demonstrated that incubation with either CM from HUVECs or TGF-β significantly increased the expression of a stemness marker, CD133 in HBx-infected hepatoma cells. Gene inhibition experiments with CD133 siRNA showed a downregulation of mesenchymal gene expression and properties in TGF-β induced HBx-infected hepatoma cells as compared to that observed in control siRNA treated cells, indicating CD133 as one of the key molecules affecting epithelial to mesenchymal transition (EMT) in HBx-infected cells.Conclusion: The study indicates that secretory factors like TGF-β from neighboring endothelial cells may enhance expression of CD133 and impart an aggressive EMT phenotype to HBx-infected hepatoma cells in HBV induced HCC

Production system and challenges of saline aquaculture in Punjab and Sindh provinces of Pakistan

IntroductionLack of data about saline aquaculture in Pakistan has curtailed informed policy and investment decision making resulting in undervaluation of and underinvestment in the sector. Therefore, saline aquaculture in Pakistan is today an underdeveloped sector despite its potential as an alternative livelihood for the country's rural farmers. This study represents one of the initial exploratory investigations into saline aquaculture systems in Pakistan, aiming to comprehend the existing sectoral landscape, production challenges, post-harvest constraints, and the associated capacity and investment needs.MethodsThe study employed purposive sampling to survey 121 low-income saline aquaculture farmers across five districts of Southern Punjab and Sindh provinces. The analysis was carried out using descriptive statistics.ResultsThe results revealed that the saline aquaculture sector is predominantly male-centric, with agricultural land utilized for both agriculture and aquaculture purposes. Ponds, which usually serve multiple functions, focus primarily on carp production, but adherence to good management practices remains limited. Farmers face various challenges, including the high costs of feed and seeds, freshwater scarcity, inadequate technical knowledge, and marketing issues.Discussion and conclusionThis study serves as a foundational assessment, addressing data and information gaps crucial for supporting the sustainable development of saline aquaculture in Pakistan. To facilitate such development, the study recommends initiating programs to strengthen technical skills in saline aquaculture, together with the establishment of hatcheries and breeding stations for saline-tolerant species, aiming to reduce dependence on freshwater species in saline pond environments

Increased Expression of RUNX1 in Liver Correlates with NASH Activity Score in Patients with Non-Alcoholic Steatohepatitis (NASH)

Given the important role of angiogenesis in liver pathology, the current study investigated the role of Runt-related transcription factor 1 (RUNX1), a regulator of developmental angiogenesis, in the pathogenesis of non-alcoholic steatohepatitis (NASH). Quantitative RT-PCRs and a transcription factor analysis of angiogenesis-associated differentially expressed genes in liver tissues of healthy controls, patients with steatosis and NASH, indicated a potential role of RUNX1 in NASH. The gene expression of RUNX1 was correlated with histopathological attributes of patients. The protein expression of RUNX1 in liver was studied by immunohistochemistry. To explore the underlying mechanisms, in vitro studies using RUNX1 siRNA and overexpression plasmids were performed in endothelial cells (ECs). RUNX1 expression was significantly correlated with inflammation, fibrosis and NASH activity score in NASH patients. Its expression was conspicuous in liver non-parenchymal cells. In vitro, factors from steatotic hepatocytes and/or VEGF or TGF-beta significantly induced the expression of RUNX1 in ECs. RUNX1 regulated the expression of angiogenic and adhesion molecules in ECs, including CCL2, PECAM1 and VCAM1, which was shown by silencing or over-expression of RUNX1. Furthermore, RUNX1 increased the angiogenic activity of ECs. This study reports that steatosis-induced RUNX1 augmented the expression of adhesion and angiogenic molecules and properties in ECs and may be involved in enhancing inflammation and disease severity in NASH