Investment Behavior and Stock Preference of an Individual Investor: Evidence from Karachi Stock Exchange

The purpose of the research is to study the individual investor’s behavior in Karachi Stock Exchange. In this study data was collected from individual clients at Karachi Stock Exchange. Type of the study is descriptive and deductive approach was used.  The data was collected from 389 respondents at Karachi Stock Exchange with the help of designed questionnaire. The individual behavior is tested with the help of regression analysis. There are three regression models developed to study the relationship and impact of Independent variables (Accounting information & financial literacy, overconfidence, irrationality and biasness in decision making) on three different dependent variables (Preference of capital gain, preference of dividend and gambling). Results explain no relationship toward preference of capital gain but the significant relationships found toward preference of dividend and gambling. So it can be easily concluded that the investors at Karachi Stock Exchange do not prefer capital gain but they want better payout and speculation in the market. There were also studied that the accounting information & financial literacy increase the behavior toward preference of dividend and decrease toward gambling. There have been the evidences found that the investors at Karachi Stock Exchange have irrational behavior and this behavior influences the preference of dividend and gambling. Keywords:Investment behavior, Capital gain, Dividend, Gambling, Financial Literacy, Overconfidence, Irrationality and Biasness in Decision Making

Clinical radiology research in Pakistan: from evidence to practice

OBJECTIVE: To assess the clinical radiology research productivity in Pakistan by type of publication, sources of funding and name of journals. METHODS: A systematic search strategy using key words related to techniques and type of clinical radiology was carried out to identify various studies published in Indexed (Medline) and non-indexed (Pakmedinet) medical journals. RESULTS: Total of 397 studies were identified out of which 173(43%) from Medline (indexed database) and 220 (57%) from pakmedinet (Indexed and non- indexed database of Pakistan Medical journals). Original articles were 294 (74%) but most of them (68%) were published in non-indexed journals and significantly different from other articles types (case reports, short reports, review articles and letter to editors) (p-value \u3c 0.001). No Randomized Controlled Trial was identified. No research was funded by any formal financial agency. As high as 78% of indexed studies were published by radiology centers of Sind province. Private hospitals having radiology department contributed significantly in indexed journals compared to government hospitals (p-value \u3c 0.001). Majority (74%) of the studies were done by radiologists as compared to other non-radiology clinical colleagues (p-value \u3c 0.001). The most preferred journal for publication was the Journal of Pakistan Medical Association (JPMA; N = 43) followed by Annals of King Edward medical college (Ann KEMC; N = 20). Australasian journal of radiology was the most preferred international journal for publication (Australas Radiol N = 3). No significant difference was found in radiology research production in terms of number of publication from and before the year 2000 (p-value 0.51). CONCLUSION: Clinical radiology research production from Pakistan is low in terms of quality and number. Only few studies reach the standard of publication in international medical journals. There is an urgent need of building the foundation of research programmes in radiology and strengthen research capacity building at facility and health policy level

Interventions for improving research productivity in clinical radiology

The purpose of this study was to evaluate the effects of research promotion activities on overall quality and quantity of research output in a clinical department of a teaching tertiary care hospital. Simple research enhancing strategies including regular journal club, research hour, basic research skills training, hiring of research faculty, research awards, and annual research retreat and research board to increase research production were implemented in the Department of Radiology of a teaching hospital in Pakistan. A total of 77 papers were produced by the Department of Radiology before the intervention, which increased to 92 after the introduction of research initiatives. There was a significant increase in the overall proportion of publications in the international journals after the intervention (p \u3c 0.001) with an increasing trend towards indexed journals (p \u3c 0.001). The research enhancing interventions had a positive effect on increasing clinical research output by the Department of Radiology. Such interventions can also be replicated in other clinical departments to increase their research productivity

Film Retakes in Digital and Conventional Radiography

Objective: To determine the film-retake rates and causes in digital radiography comparison to conventional X-rays method. Study Design: Comparative study. Place and Duration of Study: Radiology Department, Aga Khan University Hospital, Karachi, from January 2004 to December 2006. Patients and Methods: X-rays of different body parts, conducted during the year 2004, with conventional radiography (n=170300), and in 2006 with digital radiography (n=174550), were included in this study. Measurements were done for number of X-rays re-take due to different quality control reasons for both the conventional and digital radiography. Quality control reasons included underexposure, overexposure, positioning errors, patient movements, portable X-rays, grid cutoff, and others (i.e. equipment related) due to which X-ray quality was questionable. Results were expressed in percentages. Results: A total of 9423 X-rays (5.5%) were repeated in conventional radiography (n=170300) due to underexposure (38%), overexposure (28.5%), positioning errors (25%), portable procedures (4%), patient movement (2%), grid cut-off (0.5%), and others (2%). Underexposure was the most frequently responsible factor for the X-ray repetition as compared to other factors (p\u3c0.001). In digital radiography (n=174550), 1464 X-rays (1%) needed to be repeated, which was significantly less in comparison to X-ray repetition in conventional method of radiography (5.5%) [p\u3c0.001]. In digital radiography, the most frequent factor for X-ray re-take was positioning error (435, 30%). Conclusion: Digital radiography is associated with significantly lesser number of re-take X-rays as compared to conventional radiography, hence minimizes the exposure of the patients to unnecessary radiations due to re-take X-rays. Positioning error remains a problem even in digital radiography, emphasizing training need for technologists

Carotid artery disease in patients undergoing elective coronary artery bypass surgery

OBJECTIVE: To determine frequency of carotid artery disease in patients undergoing elective coronary artery bypass grafting (CABG) using Doppler sonography.STUDY DESIGN: Observational study. PLACE AND DURATION OF STUDY: Radiology Department, The Aga Khan University Hospital, Karachi, from January 2005 to September 2008. METHODOLOGY: Patients with known cardiovascular disease waiting for CABG surgery were enrolled for carotid artery Doppler sonography. A predefined data entry form was used for data collection. Coronary angiography findings, carotid artery findings and other associated factors were noted from medical and radiological records. Frequency and pattern of carotid artery disease along with associated risk factors were evaluated. Data was entered and analyzed in SPSS version 15. Pearson chi-square for categorical and independent t test was applied for continuous variables at 95% confidence level. P-value of less than 0.05 were considered significant. RESULTS: A total of 176 patients (85% male, mean age=65 years) undergoing elective coronary artery bypass grafting were evaluated preoperatively for carotid artery disease by neck color Doppler sonography. Twenty percent of patients were found to have advanced carotid artery disease (\u3e 50% stenosis), 6% had critical stenosis (\u3e 75% stenosis) and 3% had complete stenosis. Frequency of atherosclerotic plaques was 50%, more common on right side and more prevalent in common carotid artery. Family background of carotid or coronary artery disease and history of smoking were significantly associated with presence of carotid artery disease (p \u3c 0.05). CONCLUSION: A sizeable proportion of patients undergoing elective coronary artery bypass grafting surgery for coronary artery disease were found to have coexistant carotid artery disease

Magnetic resonance imaging findings in patients with schizophrenia

OBJECTIVE: To determine structural abnormalities in the brain of patients with schizophrenia by Magnetic Resonance Imaging (MRI). STUDY DESIGN: Comparative study. PLACE AND DURATION OF STUDY: The Departments of Radiology and Psychiatry, the Aga Khan University Hospital, Karachi, from January 2007 to June 2008. METHODOLOGY: Thirty-three cases of schizophrenia (n=33) and thirty-three age-matched controls, (n=33) were enrolled for this study. Screening Magnetic Resonance Imaging (MRI) of brain was done in order to see structural changes in brain matter. Findings were compared among groups using chi-square and Fisher\u27s exact test with significance at p \u3c 0.05. RESULTS: Among the total of 66 (n=66) MRI films studied for brain abnormalities, brain atrophy, presence of septum pellucidum and enlarged Virchow-Robins spaces were significantly associated with schizophrenia (p \u3c 0.001). There was no significant difference between cases and controls for ventricular dilatation (p=0.5). Sinusitis was mostly associated with controls and well correlated with their symptoms (p \u3c 0.001). CONCLUSION: Brain atrophy was the most commonly seen brain change in the studied sample of patients with schizophrenia. MRI brain can be used to identify structural abnormalities in patients with schizophrenia

Birth weight estimation--a sonographic model for Pakistani population

OBJECTIVE: To develop a sonographic birth weight estimation model for Pakistani population and to validate the published models in the same population. METHODS: Data was collected for pregnant women who presented to Radiology Department of Aga Khan University Hospital Karachi from January 2007 to July 2008 and had undergone ultrasound estimation of foetal weight within 4 days prior to a term delivery (37-42 weeks gestation). The neonate\u27s actual birth weight was used to validate the published foetal weight estimation models and modified sonographic birth weight estimation model was derived for our population by using linear regression. RESULTS: Modified sonographic birth weight estimation model for our population was derived by using foetal parameters. No significant difference (p-value \u3e 0.05) of actual and predicted birth weight derived from Our regression model, Campbell and Woo models was noted, however least difference (p = 0.7) was identified between our predicted model (Mean difference 14 +/- 37.7 g). CONCLUSION: Our sonographic modified regression model of foetal weight estimation gave the least difference with actual neonatal birth weight and can be reliably used in our population. Hadlock1, Hadlock2 and Woo2 models are not appropriate in our setting or should be used carefully while predicting foetal weight in our population

Non-Fatal limb injuries in motorbike accidents.

OBJECTIVE: To determine frequency and pattern of non-fatal limb injuries in motorbike accidents victims.STUDY DESIGN: Cross-sectional observational study.PLACE AND DURATION OF STUDY: Study was conducted at Jinnah Postgraduate Medical Centre (JPMC), Karachi, from October 2006 to March 2007.METHODOLOGY: Trained data collectors prospectively collected data from the emergency department of JPMC, Karachi using structured pre-tested questionnaires. All motorbike accident victims presented to Emergency department with single or multiple bone injury in body extremities were included. Head injury patients who had first presented to neuro-surgery department were excluded. Motorbike accident victims with soft tissue injuries were also excluded from this study. Chisquare test was applied to find out statistical significance at 95% confidence level. P-value \u3c 0.05 was considered as significant.RESULTS: A total of 137 (39%) patients presented with tibial injury among the study sample of 348 patients, which was significantly higher than the bone injuries of the body part (p60 years. Those with less than 15 years accounted for 12% of cases.CONCLUSION: Tibial bone is at the greatest risk in motorbike accidents probably due to its superficiality and exposed position while riding motorbike. Protective measures need to be taken for the prevention of disability associated with lower limb involvement in motorbike accidents

Non-Parametric Test for Ordered Medians: The Jonckheere Terpstra Test

In clinical trials, sample size is usually lesser as compared to other epidemiological studies to make it more feasible and cost effective. Small sizes of such trials discourage the use of parametric test due to violation of the assumption under which they are applicable. Therefore, the use of nonparametric test is substantial in clinical trials to test two or more independent samples. The Kruskal-Wallis h test is an alternative to one-way ANOVA and can be used to identify significant differences among different populations. When we have several independent samples and assumed to be arranged orderly, Jonckheere Terpstra test is a best choice to compare population medians instead of means. For the application of Jonckheere Terpstra test the data from the study of cleaning methods for ultrasound probes are used. The Jonckheere Terpstra test is recommended over Kruskal-Wallis h test as it compares and provides significant difference between more than two population medians when they arranged in order. Therefore, the aim of this research paper was to explore the use and significance of Jonckheere-Terpstra test with the use of practical example

Band Ligation VersusGlue Injection for Bleeding Gastric Varices

Background : To compare endoscopic variceal sclerotherapy with N-butyl-2-cyanoacrylate- Histoacryl (EVS) and endoscopic variceal band ligation (EBL) for treatment of bleeding gastric varices (GV).Methods: In this  randomized control trial 140 patients  with bleeding gastric varices were included.Bleeding GV patients diagnosed endoscoically were treated with EVS or EBL in two equal groups after randomization. Bleeding control or otherwise was confirmed during the procedure. Patients were followed for 1 month for re-bleeding. Comparison of the patients undergoing EVS or EBL was done in terms of bleeding control and re-bleeding during follow up period. Chi2 test was used to seek statistically significant association in this regard. Results: Endoscopic bleeding control was confirmed in all except 1 of EBL patients who expired. 4 (5.7%) of EVS 10 (14.28%) EBL patients had re-bleeding (P >0.05).Conclusion: EVS and EBL are comparative procedures for treatment ofbleeding GV for control of active bleeding and re-bleeding over one month follow up