PENGARUH PROFITABILITAS DAN LEVERAGE TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DEVIDEN SEBAGAI VARIABEL MODERASI

Penelitian ini bertujuan untuk menguji Pengaruh Profitabilitas dan Leverage terhadap Nilai Perusahaan dengan Kebijakan Deviden sebagai Variabel Moderasi pada Perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) selama periode tahun 2016-2020. Profitabilitas diukur menggunakan proksi Return on Equity (ROE), leverage diukur menggunakan proksi Debt to Equity Ratio (DER), nilai perusahaan diukur menggunakan proksi Price to Book Value Ratio (PBV) serta kebijakan deviden diukur menggunakan proksi Dividend Payout Ratio (DPR). Jenis penelitian ini adalah penelitian kuantitatif. Pengumpulan data pada penelitian ini menggunakan data sekunder yaitu laporan keuangan perusahaan. Sampel dalam penelitian ini menggunakan metode purposive sampling sehingga mendapatkan 8 perusahaan yang sesuai kriteria dan diperoleh 40 data unit analisis dengan 1 data outlier sehingga menjadi 39 data unit analisis. Metode analisis yang digunakan adalah Moderated Regretion Analysis (MRA). Hasil penelitian menunjukkan bahwa profitabilitas berpengaruh positif dan signifikan terhadap nilai perusahaan, leverage berpengaruh negatif dan signifikan terhadap nilai perusahaan. Sedangkan kebijakan deviden tidak dapat memoderasi hubungan pengaruh profitabilitas dan leverage terhadap nilai perusahaa

The Determinants of Corporate Dividend Policy: An Investigation of Pakistani Banking Industry

The paper investigates the impact of different firm specific factors on the dividend policy of companies by selecting a sample of 18 banks listed in KSE for the period 2006-2011. The dependent variable is dividend policy where as explanatory variables include, firm size and risk, profitability, firm’s growth and leverage. It was found that out of 18 banks 11 banks pay dividends whereas seven banks do not. The results have shown that the independent variables growth, profitability and firm size have positive coefficient of correlation when the dependent variable is dividend yield and Dividend Payout Ratio. However there is strong linear association between profitability and firm size with dividend policy but the variable growth rate has weak positive correlation with dividend policy. In contrast, the variables leverage and firm risk has inverse linear relationship with dividend policy. Banks that pay dividends were found, when we use method of correlation coefficient more profitable, stable and less risky as compare to banks that do not pay dividends. Keywords: Dividend Policy, Listed Banks, Pakista

Leadership Styles, Turnover Intentions and the Mediating Role of Organizational Commitment

The aim of this research article is to investigate the association between leadership styles, organizational commitment and turnover intentions. In particular, this study focuses on the mediation effect of organizational commitment on the association between styles of leadership and turnover intentions. One hundred and seventy (170) questionnaires were distributed and one hundred and twenty one (121) questionnaires were returned, indicating a response rate of 71.2%. A non-probability convenience sampling technique was used to collect data. The population of this study consists of the insurance sector of Pakistan. Employees working at different hierarchal level were targeted, comprising non-managerial and managerial levels including upper, middle, and lower level management. The data were analyzed by using statistical package of SPSS 20th version. It was found that there is negative insignificant association between turnover intentions and transactional and transformational leadership styles. Also, organizational commitment mediated the association between styles of leadership and turnover intentions. Managers should be aware of the advantages and disadvantages of different leadership styles as these may affect organizational commitment of subordinates and eventually, positive or negative effect on turnover intentions. Keywords: Styles of Leadership, Employee Turnover Intentions, Organizational Commitment, Insurance Companies, Pakistan

The association between obesity, mortality and filling pressures in pulmonary hypertension patients; the “obesity paradox”

SummaryBackgroundThe term “obesity paradox”, refers to lower mortality rates in obese patients, and is evident in various chronic cardiovascular disorders. There is however, only scarce data regarding the clinical implication of obesity and pulmonary hypertension (PH). Therefore, in the current study, we evaluated the possible prognostic implications of obesity in PH patients.MethodsWe assessed 105 consecutive PH patients for clinical and hemodynamic parameters, focusing on the possible association between Body Mass Index (BMI) and mortality. Follow-up period was 19 ± 13 months.ResultsSixty-one patients (58%) had pre-capillary PH and 39 patients (37%) out-of-proportion post-capillary PH. During follow-up period, 30 patients (29%) died. Death was associated with reduced functional-class, inverse-relation with BMI, higher pulmonary artery and right atrial pressures, pulmonary vascular resistance and signs of right ventricular failure. In multivariate analysis, obesity (BMI ≥ 30 kg/m²), was the variable most significantly correlated with improved survival [H.R 0.2, 95% C.I 0.1–0.6; p = 0.004], even after adjustment for baseline characteristics. Obese and very-obese (BMI ≥ 35 kg/m²) patients had significantly less mortality rates during follow-up (12% and 8%, respectively) than non-obese patients (41%), p = 0.01. The tendency of survival benefit for the obese vs. non-obese patients was maintained both in the pre-capillary (10% vs. 46% mortality, p = 0.008) and disproportional post-capillary PH patients (11% vs. 40% mortality, p = 0.04).ConclusionsObesity was significantly associated with lower mortality in both pre-capillary and disproportional post-capillary PH patients. It seems that in PH, similarly to other chronic clinical cardiovascular disease states, there may be a protective effect of obesity, compatible with the “obesity paradox”

Geopolitics of Silk Road

This paper will investigate the history of Silk Road in changing patterns of Geopolitics. Historically, it remained only a road or a route but a fragment of history that connects East and West. It consists of network of routes, trails and trading posts starting from China, scattered across Central Asia, penetrating South Asia and reaching across Europe. The term Silk Road was used for this route as Silk, which was before 7th century exclusively produced in China was the main product being exported to European lands. Empires like Persian, Roman as well as regions of Middle East, Central Asia, and Subcontinent and as far as Russia were involved in the exchange which reveals an earlier version of globalization. Knowledge, inventions and religions were the commodities which travelled through this route. In the contemporary world i.e 21st century China is treading through similar paths to ensure its sustainability and development.“One Belt, One Road” (OBOR) Initiative announced in 2013, is the name of a plan to revive and better the spirit of the old silk road and a step towards realizing the prediction of the Asian century. The OBOR consists of various mega-projects, but the main two programs are “the Maritime Silk Road” (MSR) and the “Silk Road Economic Belt” (SREB)

The relationship between Personality Traits, Learning Styles and Academic Performance of E-Learners

The rapid growth of e-learning has greatly influenced the educational system across the globe. Personality traits and learning styles are both likely to play considerable roles in influencing academic achievement of e-learners. Based on this foundation, a study was designed that attempts to establish the missing links between personality traits, learning styles, and academic performance of students enrolled in various e-learning courses. University students (N=144) completed the Big Five Inventory (BFI), Index of Learning Style (ILS) and reported their grade point average (GPA). One of the Big Five traits i.e. extraversion was positively related with all four learning styles whereas neuroticism was negatively related with all four learning styles. It has also been revealed that GPA was positively correlated with three personality traits and was negatively correlated with neuroticism. Similarly GPA was positively correlated with three learning styles. Finally, there were no significant differences in learning styles and personality traits of e-learners in terms of gender. Implications of these results are expected to help academics, managers, and policy makers for implementation of future e-learning strategies in Pakistan

Effect of Creatine Monohydrate Supplementation on Various Hematological and Serum Biochemical Parameters of Male Albino Mice following Neonatal Hypoxia-Ischemia Encephalopathy

Background. Present study was designed to report the effect of 2% creatine monohydrate supplementation for 8, 12 and 15 weeks on hematology and serum biochemical profile of male albino mouse following hypoxic ischemic insult on postnatal day 10. Methods. 66 Blood samples (2% creatine monohydrate supplemented (N=34) and unsupplemented (N=32)) were analyzed for various hematological (blood glucose, packed cell volume, total WBC count, total RBC count) and serum biochemical parameters (cholesterol, AST, ALT, HDL, LDL, total protein, triglycerides). Results. ALT had higher concentrations in mice feeding on normal diet for 8 (P>0.01) and 12 weeks (P>0.01) following asphyxia and in 12 weeks treatment without asphyxia (P=0.006) when compared with the creatine supplemented mice. LDL (P=0.011) and cholesterol (P>0.01) had higher concentrations in mice on normal diet for 12 weeks following hypoxia ischemia. Cholesterol (P>0.01) in 12 and glucose (P=0.006) in 15 week treatment group had significantly lower concentrations in creatine supplemented male albino mice when compared with untreated group following hxpoic-ischemic insult. Conclusion. We concluded that creatine supplementation following hypoxic ischemic insult helps in maintain the normal blood chemistry