Contrarian and Momentum Investment Strategies in Pakistan Stock Exchange

This study examines several aspects of the momentum strategies, such as profitability, risk-based explanation, and decomposition of the momentum profits. For this purpose, we use weekly and monthly data of 581 firms listed at the Pakistan Stock Exchange (PSX) for the period 2004-2014. We found the presence of momentum profits over short and long-horizons, while majority of the contrarian profits were observed only in the presence of penny stocks that have share prices of PKR 10 or less. As a robustness check, we computed returns through the weighted relative strength scheme (WRSS) procedure and average cumulative abnormal returns (ACARs). Interestingly, the results reported through WRSS have shown a similar pattern to that obtained through average cumulative abnormal returns (ACARs). Further, to know which factor contributes more to momentum and contrarian profits, we used the model proposed by Lo and MacKinlay (1990). Our findings show that the overreaction effect is the largest contributing factor of contrarian profits in PSX, while cross-sectional risk is the second largest factor and negatively affects the contrarian profits. Moreover, the lead-lag effect contributes positively to the contrarian profits. Similarly, the largest contributing factor for momentum profits is the underreaction effect, whereas cross-sectional risk is the second largest factor that positively affects momentum profits. Unlike contrarian profits, lead-lag effect reduces the momentum profits in the PSX

The effect of cost of credit on money demand: empirical evidence from Malaysia

This paper investigates the dynamic of long-run relationship between cost of credit and real money balances in Malaysia. The Johansen-Juselius (1990) likelihood ratio tests support the importance of the cost of credit in the real broad money demand function. The sample period spans from 1978:q1 through 1997:q4. The results provide empirical evidence for the long-run relationship between cost of credit and broad money balances in Malaysia

MICROFINANCE-ECONOMIC GROWTH NEXUS: A CASE STUDY ON GRAMEEN BANK IN BANGLADESH

Microfinance is one of the fastest growing sectors in Bangladesh and in many parts of the world. Over the last few decades, this sector has been supportive in achieving various socio-economic goals in Bangladesh. The country has made remarkable progress in sectors like education and health, and most importantly it has contributed significantly in poverty alleviation. Although the microfinance mostly concentrates at the micro level, it has direct effect on the macro economy.  A forefront Microfinance provider like Grameen Bank has been playing a key role for the socio-economic wellbeing of the people living in the rural areas as well as for the economic development of rural economy. This study aims to investigate the long run dynamic relationship among its loan financing and clients’ deposit and economic growth in Bangladesh. By considering annual time-series data of these variables, a widely used cointegration test and Granger’s causality test have been applied to examine the long run relationship among these variables. The result shows that both financing and depositing aspects of Grameen Bank have positive effect on economic growth of Bangladesh in the long run. It is recommended that Grameen Bank should allow its operations without any external pressure for the sake of sound economic growth of the country.

Historical Analysis of Rationalizing South-West Coastal Polders of Bangladesh

Source: ICHE Conference Archive - https://mdi-de.baw.de/icheArchiv

Cross-sectional exploration of the impact of the Dr Bawa-Garba case on doctors’ professional behaviours and attitudes towards the regulator

OBJECTIVE: This paper examines the impact on doctors’ attitudes towards the General Medical Council (GMC) and on professional behaviours (reflective practice and raising concerns) following the Dr Bawa-Garba case. DESIGN: A cross-sectional survey designed using the theoretical lens of the theory of planned behaviour (TPB) was administered from September 2017 to February 2019. By chance, this coincided with critical events in the Dr Bawa-Garba case. SETTING: Primary and secondary care settings across a broad geographical spread in England. PARTICIPANTS: 474 doctors. OUTCOME MEASURES: Attitudes towards the GMC and two professional behaviours in TPB dimensions. RESULTS: Attitudes towards the GMC became more negative during the period that the Medical Practitioners Tribunal Service and GMC suspended and subsequently erased Dr Bawa-Garba from the medical register. Specifically, confidence that doctors are well regulated by the GMC and that the GMC’s disciplinary procedures produce fair outcomes was rated more negatively. After this period, overall attitudes start to recover and soon returned close to baseline; however, confidence in how the GMC regulates doctors and their disciplinary procedures improved but still remained below baseline. There was no change in doctors’ attitudes or intention to reflect or raise concerns. CONCLUSIONS: The lack of change in doctors’ attitudes towards the GMC’s guidance, the approachability of the regulator, defensive practice and professional behaviours as a response to the Dr Bawa-Garba case demonstrates the resilient and indelible nature of medical professionalism. At the time, professional bodies reported that repairing doctors’ trust and confidence would take time and a significant effort to restore. However, this study suggests that attitudes are more fluid. Despite the high-profile nature of this case and concerns articulated by medical bodies regarding its impact on trust, the actual decline in doctors’ overall attitudes towards the GMC was relatively short lived and had no measurable impact on professionalism

Colorimetric based sensing of dopamine using ionic liquid functionalized drug mediated silver nanostructures

© 2020 Elsevier B.V. The present work reports the drug mediated synthesis of silver nanoparticles (AgNPs) for sensing of dopamine (biomarker Parkinson\u27s disease and others). Augmentin drug was chosen because of functionalities and aromaticity in its structure which will not only work in the synthesis of AgNPs but also enhance the electron density on nanoparticles (NPs) for better sensing properties. 1-H-3-methylimidazolium acetate ionic liquid (IL) having characteristic properties of aromaticity and conductivity were coated on to the surface of NPs to further enhance the mentioned properties. The FTIR, Raman spectroscopy and XRD analysis demonstrate the characteristic peaks assigned to AgNPs. SEM analysis shows round shaped morphology and EDX showed strong band for AgNPs. TGA analysis showed maximum degradation at 340 °C for the prepared AgNPs. The functionalized AgNPs/IL was used in sensing of dopamine. Different reaction conditions have been optimized to find the optimal performance of AgNPs/IL such as; (a) pH (b) amount of Ag/IL (c) time of incubation; (d) temperature. The response time of the proposed sensor for dopamine detection was only 4 min with a visible colorimetric change from light grey to brown color. The proposed sensor showed a wide linear range (1 × 10−8–3.6 × 10−6 M), low limit of detection 1.18 × 10−7 M, and limit of quantification 3.92 × 10−7 M with an R2 value of 0.9997. The IL capped Ag nano assembly exhibited no reactivity towards folic acid, urea, ascorbic acid, Ca+2, K+ and was successfully used to quantify dopamine in physiological sample

BETWEEN THE BIOACTIVE EXTRACTS OF EDIBLE MUSHROOMS AND PHARMACOLOGICALLY IMPORTANT NANOPARTICLES: NEED FOR THE INVESTIGATION OF A SYNERGISTIC COMBINATION - A MINI REVIEW

ABSTRACTThe pharmacological potential of bioactive compounds extracted from mushrooms has been studied to a reasonable level. In the same vein, thebioactivity of nanoparticles has also been investigated and reported to be of potential pharmacological benefit. No doubt, there is a reasonableamount of claims regarding the vast activity of the mushroom extracts and nanoparticles on the tested cell lines and microorganisms. In this paper,a review of the recent application of bioactive compounds extracted from two edible mushrooms (Coprinus comatus and Lactarius deliciosus), aswell as some of the recently reported studies on some nanoparticles of pharmacological potentials, was carried out. In order to check for synergy inthe bioactivity of the mushroom extracts when co-administered with nanoparticles, an investigation on the synergistic application of the materialsthrough the encapsulation of the bioactive extracts from the mushroom onto the nanoparticle was proposed. The supposed synergy in the activity ofthe extract-nanoparticle complex could hold the key to improved activity of nutraceuticals against resistant microorganisms and tumor cells.Keywords: Coprinus comatus, Lactarius deliciosus, Nanoparticles, Synergy, Bioactive extracts