The Flow - Performance Relationship: Evidence from Pakistani Mutual Funds

we use the novel sample of Pakistani mutual funds to examine the flow performance relationship.  We apply linear regression model with fixed effect on unbalanced panel data for the period of 2012 to 2018. Consistence with the existence literature  using sample of US and other developed countries ,we find positive flow- performance relationship , but the prior performance do not have larger impact on subsequent fund flows.  Our results also exhibit that the shape of the relationship is not linear; it’s convex like other developed countries. In other words, the past high performing funds attracts larger inflow in the next periods whereas the past low performing fund suffer from minimal out flow in the next period

The effects of cutting interval on agro-qualitative traits of different millet (Pennisetum americanum L.) cultivars

AbstractA field experiment was conducted to study the forage yield and qualitative traits of different varieties of millet with different days of harvest during the summer, 2014 at Agronomic Research Area, University of Agriculture Faisalabad. Experiment was laid out in randomized complete block design (RCBD) under factorial arrangement having three replications. Pearl millet seeds of three varieties viz. BS-2011, Ghana White and MB-87 were grown in 30cm apart rows. Net plot size was 3.6m×8.0m. Three different harvesting times were adopted i.e. 55, 65 and 75days after sowing (DAS). Maximum plant height of pearl millet was recorded for cultivar BS-2011 at harvest time of 75DAS. Maximum leaf area per plant was observed for the cultivar BS-2011 when it was harvested 75DAS. Maximum dry matter percentage was also attained in cultivar BS-2011 where plots were harvested at 75DAS. The highest forage yield was obtained where variety BS-2011 was grown and harvested at 75DAS. Similarly, maximum dry matter production of BS-2011 was recorded in plots harvested at 75DAS followed by Ghana White and MB-87 harvested at 55DAS. Higher crude protein content was recorded where plots were harvested at 55DAS and cultivar BS-2011 was sown. Higher crude fiber and total ash percentage was also seen in BS-2011. Finally, cultivar BS-2011 proved best for cultivation with harvest time of 75 DAS under Faisalabad conditions to obtain higher forage yield and better quality

On a new class of analytic functions associated with conic domain

AbstractThe aim of this paper is to generalize the conic domain defined by Kanas and Wisniowska, and define the class of functions which map the open unit disk E onto this generalized conic domain. A brief comparison between these conic domains is the main motivation of this paper. A correction is made in selecting the range interval of order of conic domain

Corporate Social Responsibility and its Nexus with Firm Performance and Institutional Ownership: An Emerging Market Context

Either corporate social responsibility (CSR) is paramount for the firms or not, is a matter of  question since long. The present study analyzes this relationship in the context of moderating  role of Institutional ownership (IO). Firm performance is measured through accounting and  market value measures. Leverage, firm age, firm size, and log of sales revenue used as a control  variables. Through applying panel data techniques, findings demonstrate insignificant positive  association between CSR and firm performance. It shows that stakeholder could not assign value  to firms spending as a CSR. This could be the reason that customers are not much aware about  firms CSR activities hence, firms fail to capitalize their spending as an investment. Institutional  Ownership (IO) reveals negative insignificant association with all profitability measures except  Tobin’s Q where this relationship is significant. This significant negative relationship supports  the agency theory and presence of strategic alliance hypotheses between influential institutional  owners and internal management that leads to lower firm performance. The interaction variable  of CSR and IO show positive but insignificant relationship with firm performance by all means.&nbsp

Isolation and screening lactic acid bacteria for riboflavin production and their use for bioenrichment of curd

As many as 47 lactic acid bacteria were isolated from various vegetables and fruits and raita collected from local households and characterized. All of them were Gram positive and catalase negative. The isolates were screened for riboflavin production. The riboflavin production varied from 0.86 to 10.90 mg L-1. The isolate Ra1 produced the highest riboflavin (10.90 ppm). Incidentally, it also produced 5.6 per cent lactic acid and 21.4 ppm exopolysaccharide (EPS). Similarly, N2 and F2 isolates produced 10.90 and 10.20 ppm riboflavin and 21.17 and 21.24 ppm EPS, respectively. These three selected isolates were used for preparing a functional curd andevaluated. The curd produced by inoculating N2 and Ra1 were of very good quality with excellent flavor, taste and texture and smooth cutting quality. Ra1 produced a functional curd with the highest riboflavin content (13.97 ppm). N2 and RA1 resulted in very high acceptability index of 95.37 and 94.44 per cent, respectively. The betterorganoleptic parameters of the functional curd may also be due to high lactic acid and exopolysaccharide production by these isolates. Thus, by inoculating riboflavin synthesizing LAB isolates to curd, riboflavin-enriched functional curd with enhanced consumer appeal, can be produced

A knowledge based decision support system for tool changeover in CNCs

This paper describes an application of an adaptive planning system for automatic tool changers in flexible manufacturing systems. The conventional models of predictive control usually cannot adapt to a real time dynamic environment. The proposed adaptive control model is capable of self adjusting to changing environments. The algorithm is based on a decision logic, which is constructed by breaking up knowledge and converting them into mathematical form in order to cover all possible conditions that can exist during the implementation phase. Expert thoughts and knowledge from decision logic are stored in the decision tree, which consists of circular nodes, arcs and decision nodes. The suggested system is capable of accepting further rules, new nodes and branches to the tree when additional attributes are needed. This whole knowledge is encoded in the form of production rules and each rule represents a small chunk of knowledge relating to the given domain of tool replacement. A number of related rules collectively respond to highly useful conclusions.The system uses VP Expert development shell, contains an inference engine and, a user interface. The originality of the proposed strategy lies in that a knowledge-based expert system is developed to identify and analyze the current conditions and then readjust the output that reflects the real-time environment. Compared with the various classical models, the approach can synthesize and analyze as many variables as possible to adequately and reliably identify the real-time conditions. Simulation results demonstrate the effectiveness and practicality of this tool-change planning and control strategy

Competitive Advantage of Broiler Production in District Mansehra

Poultry is an important sub sector of livestock and is ahead of all other sub sectors in economic growth. Broilers production is a specialized branch of poultry farming. This research was conducted in Mansehra is the region where considerable amount of commercial broiler production takes place. The region of the study has a high concentration of commercial activities, infrastructural facilities like veterinary care as well as climate that favor the production and marketing of poultry meat products. This research was conducted in nine villages of district Mansehra namely Kotli Pain, KotliBala, Kheil, Tanda, Bafa, Chatar Plain, Ahl, Batal and Mongandawraha. The purpose of the research was to analyze the competitive advantage of broiler farming. There were 276 broiler farms in District Mansehra. Simple Random Sampling Technique was used for data collection from 70 respondents. Average total cost of production was found Rs. 738238.11 having average farm size of 3605 broilers. Feed and one day old chick costs constitute 90.01% of the total cost. Average expenditure on production per broiler was Rs. 220.20 having net profit per broiler of Rs. 24.11.Based on Porter study (1990), average variable cost (C) was used as a proxy for competitive advantage. Results of regression analysis show that the main factors that significantly affect competitive advantage of broiler farming in the study area was feed cost, day old chick cost, labor and medication cost while capacity utilization and extension service contacts negatively and significantly affect cost. It means that reducing the above mentioned costs and using installed capacity and extension service contacts will reduce production cost and will promote competitive advantage of broiler production. Broiler production should be encouraged through better feed management practices and also by feeding broilers with nutritious feed. Broiler farmers should be encouraged to fully use their installed capacity of their farm

Post-Operative Complications of Surgery for Chronic Subdural Hematoma (SDH) and Prevention

Objective:  The study aimed to determine the rate and type of complications during surgery for treatment of chronic subdural hematoma and assess ways for their prevention. Material and Methods:  A total of 50 patients of chronic SDH were selected from the Neurosurgery Department of Bahawal Victoria Hospital. Patients were treated surgically with a single burr hole evacuation under local anesthesia, introduced a subdural drain, nursed in a head-down position for 24 hours, and given plenty of fluids orally and intravenous route. The surgical technique involved a formation of a single burr hole at the point of maximum density. Results:  Out of 50, 43 patients recovered smoothly postoperatively and discharged on the 7th postoperative day. Two patients were re-operated due to inadequate evacuation or reaccumulation. One patient developed subdural empyema post-operatively and expired in spite of good antibiotic cover. In one patient subdural drain penetrated the brain parenchyma resulting in dysphasia. Another patient formed an intracerebral hematoma due to irrigation of the cavity with pressure. One patient with GCS 4/15 developed seizures postoperatively and expired after one hour. One patient developed gross subdural tension pneumocephalus after removing the subdural drain was re-operated and recovered. Conclusion:  Single burr hole evacuation of chronic SDH under local anesthesia is the most accepted surgical treatment. Using proper aseptic surgical techniques, the introduction of the minimum necessary length of the subdural catheter to avoid penetration into the brain parenchyma, followed by careful irrigation of the subdural cavity can help prevent complications

Nexus of Block Chain Alignment, Supply Chain Agility, Supply Chain Performance and their Impact on Firm’s Environmental Performance: A Developing Country Perspective

Blockchain technology has significant potential for improving the environmental performance of businesses and supply chains. One of the key benefits of blockchain is its ability to provide greater transparency and traceability in supply chains. This can enable companies to better monitor and manage their environmental impacts, such as carbon emissions and waste production, throughout their supply chain. Therefore, the purpose of this study was to investigate the use of blockchain technology in improving supply chain alignment (SCA), supply chain agility (SCAG), and supply chain performance (SCP), and their influence on the environmental performance (EP) of firms. Additionally, the study aimed to identify the moderating effect of innovative climate (IC) on the relationship between SCA, SCAG, SCP, and EP. The researchers employed a quantitative research paradigm and collected data through a survey questionnaire. The sample was collected using the probability cluster sampling method and consisted of 350 personnel in executive and middle management positions. The results indicated that SCA, SCAG, and SCP positively impact the EP of businesses, and this relationship is moderated by IC. The study's findings have several theoretical and practical implications, including the potential for blockchain technology to improve supply chain sustainability and the importance of fostering an innovative climate to enhance the positive effects of SCA, SCAG, and SCP on EP