The Impact of Firm Size on Dividend Behaviour: A Study With Reference to Corporate Firms across Industries in India

The objective of this paper is to examine the association between the Corporate Leverage (CL) and the Dividend Policy (DP) of firms across industries in India in respect of Size of Corporate Firms. The investigation is conducted on a panel sample of 73 firms across industries [Cement, Chemical and Fertilizer, it, Oil and Gas, Pharmaceutical, Shipping, and Textiles], which listed their shares in National Stock Exchange (NSE) in India for the period 1996–2007. The impacts of Capital Structure (CS) variables (leverage) on DP measures – dividend payout (Net dividend paid/net income) in the presence of some basic fundamental variables are considered to be the determinants of DP, using the Multiple Regression Technique (OLS method). The results of the cross-sectional ols Model for the selected sample firms under various sectors show that there is a significant effect of selected independent variables. Therefore, this study proves that the DP of Small Size, Medium Size, Large Size, and Overall Corporate Firms across industries in India is dependent on the level of debt in CS.capital structure, dividend policy, corporate leverage, long term debt, short term debt, total debt

Potential of Microalgal Biodiesel: Challenges and Applications

In the present scenario, rapid industrialization and urbanization have led to a dramatic increase in the levels of various hazardous pollutants in the environment, and this creates a serious threat to humankind. Today, most of the energy production comes from fossil fuel combustion, which is the key source of CO2 emissions. Research studies show that the utilization of microalgae could be the best option for the production of renewable and sustainable energy and for the mitigation of CO2 emission. Production of biofuels from microalgae can be classified as solid (biochar), liquid (bioethanol, biodiesel, bio-kerosene), and gaseous (biogas, bio-syngas, biohydrogen) fuels. Among these biofuels, biodiesel garners a lot of interest and attention because of its high accumulation of lipids (20–75%), which could be a potential alternative fuel for diesel engines. Algal lipids usually have a higher viscosity than petro-diesel; therefore, the transesterification process is required to decrease the viscosity of microalgal lipids before they can be combusted in the engines. However, microalgae are considered as a potential resource in the current biofuel industries; still, it fails at the commercial level. Thus, in this book chapter, we have discussed the microalgal biofuel production and the challenges behind and the future prospects

Antimicrobial activity of some ethnomedicinal plants used by Paliyar tribe from Tamil Nadu, India

BACKGROUND: Antimicrobial activity of 18 ethnomedicinal plant extracts were evaluated against nine bacterial strains (Bacillus subtilis, Staphylococcus aureus, Staphylococcus epidermidis, Enterococcus faecalis, Escherichia coli, Klebsiella pneumonia, Pseudomonas aeruginosa, Ervinia sp, Proteus vulgaris) and one fungal strain (Candida albicans). The collected ethnomedicinal plants were used in folk medicine in the treatment of skin diseases, venereal diseases, respiratory problems and nervous disorders. METHODS: Plants were collected from Palni hills of Southern Western Ghats and the ethnobotanical data were gathered from traditional healers who inhabit the study area. The hexane and methanol extracts were obtained by cold percolation method and the antimicrobial activity was found using paper disc diffusion method. All microorganisms were obtained from Christian Medical College, Vellore, Tamil Nadu, India. RESULTS: The results indicated that out of 18 plants, 10 plants exhibited antimicrobial activity against one or more of the tested microorganisms at three different concentrations of 1.25, 2.5 and 5 mg/disc. Among the plants tested, Acalypha fruticosa, Peltophorum pterocarpum, Toddalia asiatica,Cassia auriculata, Punica granatum and Syzygium lineare were most active. The highest antifungal activity was exhibited by methanol extract of Peltophorum pterocarpum and Punica granatum against Candida albicans. CONCLUSION: This study evaluated the antimicrobial activity of the some ethnomedicinal plants used in folkloric medicine. Compared to hexane extract, methanol extract showed significant activity against tested organisms. This study also showed that Toddalia asiatica, Syzygium lineare, Acalypha fruticosa and Peltophorum pterocarpum could be potential sources of new antimicrobial agents

Impact of Retirement on Mental Health.

INTRODUCTION: One of the most significant events in the life of the aging man is retirement. Even though retirement brings about some expected disruptions in the life of a person, it is obvious that some are more affected than others are (Atchley, 1976). Retirement is clearly listed as one of the stressful life events where a person feels discriminated from society and has to undergo numerous readjustments. It is then but natural to experience symptoms of anxiety, depression, frustration, diminished sense of worth, shattered self-esteem and morale. Studies done by Dhillon and Milbander (1992) showed that retired men were more tense, anxious and psychologically demoralized than working men. As Cox (1984) states that on one hand, retirement is viewed as a well deserved right earned by long years of hard work in a particular occupation and on the other hand there is a tacit feeling that one is being forced out of a chosen career and the opportunity for gainful employment. These views are held mostly for mandatory retirement. The dictionary meaning of the term to retire is "to retreat, to recede, to withdraw from society, office, public or active life" and retirement as "an act of retiring". Since the term retirement implies withdrawal from society, active life, work and career, there are paradoxical views on it in the minds of people. It is felt that chronological age is a poor indicator of the ability to determine between work and mandatory retirement. Retirement is viewed as a period of crisis and adjustment where a number of problems confront the individual. Cox (1984) states that some of the problems are lowering of income, loss of status, loss of privilege, reorganization of daily activities, changing perception of self, social isolation and a sense of meaninglessness. However Streib and Schneider (1971) obtained contrary research findings. They found that although retirees experienced a sharp drop in income, they did not feel a decline in status of class. There are various types of retirement such as normal retirement or superannuation, early retirement and voluntary retirement. In the Indian industrial sector, the word voluntary retirement received legislative recognition in 1953 when the definition of retirement was engrafted in the Industrial Disputes Act, 1947. In India the age of retirement is 58 - 60 years. Voluntary Retirement Scheme (VRS) or "Golden handshake" has become one of the ways of dealing with redundant human resources in an organization. Thus VRS is a situation where the employee discontinues from job before stipulated age. People accept VRS because of an uncertain future, financial needs, ill health, and dissatisfaction with the Jobs or allurement by management. Various studies done by Atchley (1976) and Indian studies by Gupte, Kumar et al (1994) show that majority faced repentance, unemployment because of lack of specialized skills, frustration, economic hardship and a bleak long term future. In India where per capita income is low and unemployment levels are high, VRS further aggravates the situation by adding to the unemployed population. The people most severely affected are the semiskilled or unskilled workers of middle income group as they are the target population. This population faces more psychiatric morbidity than normal retired population because of the suddenness of the situation and more fruitful years of their life wasted in unemployment and inability to get jobs at the same salary level (Walker, 1985). Simpson (1966) states that work is one of most important avenues for integrating the individual into the social system by giving him or her an identity, style of life and social participation pattern. Work places the individual and his family in the hierarchy of the social structure. Thus retirement is viewed as being forced out of a chosen career and gainful employment (Cox 1984). At this phase of life, various stressful life events and readjustments occur. People in general and retirees in particular are emotionally, socially and sometimes financially and physically dependent on others. At the twilight of life, individuals from all occupations face Various stressors. These stressors can be dealt with in an astute manner by the retired and working populations greater than the age of 60 years due to the supportive family system in India. But the resolutions of these stressors and the contentment of life that a working population achieves will be slightly higher because they are involved in productive tasks, are occupied and thus active, both physically and mentally. This makes them feel more independent, confident and capable of solving their personal and social problems. As mentioned earlier, at the time of retirement, a person faces sudden changes in one's lifestyle. The changes are seen from the daily routine to active interests. Retirement also leads to change in the feeling of confidence and personal worth as they are cut off from participating in the most important interests and activities of society (Aldrich and Lipman, 1976). Therefore it was felt necessary to analyze self esteem and life satisfaction of the individuals in the present research. It is believed that due to our philosophical attitudes and family structure, the aged in India are able to bear the losses in life without suffering from depression. Contrary to this common belief, various community surveys have revealed that depression is the most common psychiatric disorder in late life. Ramchandran and Palaniappan (1983) in a geropsychiatric community survey in Chennai found 24% of subjects Aged 60 years and above suffering from depression. Retirement is taken as one of the stressful life events leading to psychiatric morbidity. This study further explores the extent of psychiatric morbidity (depression) between types of retirement and working population. In gerontology, adjustment means a bad effect to internal as well as external equilibrium of the humans (Rosow, 1963). The retired population is more susceptible to adjustment problems as compared to working elderly populations, especially in the areas of health, home, self, emotional and social life (Bose, 1982). Therefore the need was felt to explore the level of adjustment in the various areas mentioned above. India being a developing country, the status of aged women has not been equal with the status of aged men in the familial, sociological and psychological spheres. Despite the increasing inroads in education and technology, the familial status doesn't seem to have undergone any radical changes (Jamuna, 1989). In the past few years, women have crossed the threshold of their homes and have started working. Studying gender differences in the aspects of adjustment, life satisfaction, depression and self-esteem was essential to the study

Taxonomical Keys for Morphological Identification of Coral-Associated Polychaetes from Great Nicobar Islands

The present study illustrates the insufficient taxonomy records and highlights the use of microscopic diagnostic tool in polychaete taxonomy. It leads to a better understanding of coral-associated polychaete taxonomy in Great Nicobar Islands, India. A total of 24 species under 14 genera, 7 orders, and 11 families were identified, in spite of 3 species of Phyllocidae, 8 species of Nereidae, 5 species of Eunicidae, 2 species of Spionidae, and 1 species of Opheliidae, Sabellariidae, Terebellidae, Polynoidae, Amphinomidae, and Sabellidae. The current status of taxonomic information varies greatly among taxa and among geographic areas within taxa. The problems encountered included nomenclature, diagnoses, and determination of taxonomic relationships. We provide examples of a variety of these problems. Each species has distinct features of the particular families, and taxonomic section to assist the polychaete identification that is necessary to assess the biodiversity and taxonomy at any level. This chapter considers the importance of monitoring biological diversity, current morphological taxonomy of polychaetes and describes the approach developed for protected areas in Great Nicobar Islands

Investigating and improving classroom activities to enhance Japanese language learning

The importance of foreign languages is evident particularly as nation building is highly dependent on the transfer of foreign technology. Japanese Language is considered to be a difficult foreign language to learn among the foreign languages because of its complicated writing system. Teaching the writing system within a constant time period is a challenge in the institute of higher education. In order to inform my teaching and to improvise my teaching of Hiragana, an action research has been carried out to explore how I made the participants learn Hiragana. Reflection on the lessons has been done critically on my teaching styles. Students learning style has been examined to inform the teaching style. Consequently, using Japanese input to enforce the reading and writing of Hiragana has been taken as an action to address the problem. Results showed that majority of the participants have demonstrated a significant improvement. However, there were a few students who were unable to improve their Hiragana ability. Reflection need to been done to address the problem in the next cycle

Molecular Docking of Flindersine with some targets related to β-cells Protection

Diabetes mellitus (DM) is the most widespread metabolic disorder affecting millions worldwide. Molecular docking studies are useful in identifying some useful ligands which could be used to target proteins related to β-cell protection.  Flindersine isolated from the plant Toddalia asiatica (L.) Lam. (Rutaceae) has been shown by us to possess antidiabetic property. With a view to identify in silico the possible mode of docking with different target proteins like PPARγ and GLUT4 which play important roles in protecting β-cells from damage. Chemical characteristics of Flindersine were retrieved from pubchem database http://pubchem.ncbi.nlm.nih.gov. The docking analysis in the active sites of 2PRG and Homology modeled protein structure of GLUT4 were performed by the Auto dock program. The docking results showed good binding interactions of the ligand with both the targets at very low energy level. In our in silico analysis, flindersine isolated from Toddalia asiatica clearly demonstrated that it could improve  diabetic condition by increasing insulin secretion from remnant or regenerated pancreatic beta cells and could promote insulin sensitization and glucose uptake activities. When compared with standard drug Rosiglitazone that is commercially available flindersine can further diminish the degree of shrinkage and necrosis of beta cells of pancreas. Thus flindersine can be considered for developing into a potent antidiabetic drug

Flavonoids: Anticancer Properties

Flavonoids are plant secondary metabolites. They are mainly classified into four major groups, such as flavanols, flavones, anthocyanidins, and isoflavonoids. Furthermore, they are divided into some subclasses. They are available in dietary foods and they cure various diseases. Certain plants and spices contain flavonoids, which have been commonly used for thousands of years in traditional medicine. Some of the flavonoids have been clinically used in many countries. Baicalein and its glycosides are one among them to have been experimented clinically. Flavonoids have the capability to regulate cell division and proliferation in an important pathway. They have medicinal activities including anticancer properties. The isoflavone analog rotenone is one of the flavonoid compounds, which has been revealed to be actual anticancer agent. Scutellaria species having flavones retain cytotoxic activities against many human cancer cell lines. At the same time, they do not harm the myeloid cells, normal peripheral and normal epithelial blood cells. Epidemiological studies also confirmed that the intake of dietary flavonoids reduces a risk condition in cancer