Sustainable Core Earnings & Stock Performance: An Evidence of the Pharmaceutical Sector of Pakistan

  This study furnishes a new measure of earnings quality that pertains to the sustainability of core-component & non-core components of earnings measured through firms’ and industry profitability benchmark and finds its impact on the stock performance in the context of the pharmaceutical sector of Pakistan. The study identifies twelve major determinants of sustainable earnings in the firms of the pharmaceutical sector of Pakistan that are mainly classified into core and non-core earnings and sub-classified into the firms’ and industry profitability benchmark and all three profitability measures (Gross Profit, Operating Profit & Net Profit). Based upon the core and non-core earnings components, the intensity of core earnings is measured and its impact on the stock performance is analyzed. For this purpose, a balanced panel data of 09 firms of the pharmaceutical sector that are listed in Pakistan stock exchange for 10 years i.e. 2010 to 2019 is used. The study employs two estimators: one, Random Effects Model for finding the determinants of sustainable earnings and its ability of sustainability and predictability, second, dynamic GMM model for measuring the impact of sustainable earnings on stock performance. This study affirms that the earnings of the firms operating in the pharmaceutical sector are sustainable; firms’ intensity of core earnings is a significant determinant of its profitability and industry intensity of core earnings is an insignificant determinant of firms’ profitability for the firms operating in the pharmaceutical sector of Pakistan. Lastly, the study did not find any significant impact of unexpected earnings on the stock’s performance on the firms. This study is of vital interest to investors, auditors, analysts, educational institutes, researchers and regulators

Nexus between Economy, Agriculture, Population, Renewable Energy and CO2 Emissions: Evidence from Asia-Pacific Countries

This study uses panel co-integration methods and Granger causality examines to scrutinize the dynamic causal relationship between carbon dioxide (CO2) emissions, gross domestic product (GDP), renewable energy (RE), agriculture value added (AVA) and population for the thirteen developed and developing Asia Pacific countries (APCs) covering the period 2005-2017. The results evaluate in two ways: in the short-run, Granger causality test (GCT) is operating from AVA to GDP and express bidirectional causation among GDP and agriculture. In the distant future, there is causality from RE and Population to CO2emissions. The short-run causality is important due to the agriculture sector which causes in boosting GDP while economic development, population and clean energy (including waste and combustible) raise CO2 emissions causes in the reduction of production and services. The research finds out that reduction in AVA, GDP increase, uncontrolled population and lack of attention on clean energy are interrelated in creating emissions. Policy recommendation insights that Asian Pacific establishments should control the population, less use of fossil fuel, encourage clean energy technologies such as solar and wind to fight with global warming

Stock Price Synchronicity and Voluntary Disclosure in Perspective of Pakistan

This study investigates the relationship between stock price synchronicity and voluntary disclosure in perspective of Pakistan. The degree of co-movement of stock price depends on the relative amount of firm-level and the wide market information. The aim of this study is to investigate the relationship between the degrees of firm’s information which is measured by voluntary disclosure levels and how much this firm-specific information is incorporated in the stock price, measured by synchronicity. We use 5-year data from Pakistan Stock Exchange for the period of 2010 to 2014 for KSE 100 index. We use SD-SCORE to measure the level of voluntary disclosure. SD-SCORE is calculated based on the information provided in firm’s annual reports. We assign points to each company based on five broad criteria. Additional points were given if firm provides quantitative data of some specific item used in the calculation of SD-SCORE. Further, R2 is used as a proxy of synchronicity which shows the level of information impounded into share prices. We regress synchronicity on voluntary disclosure level to find out whether it incorporates in share price or not. We conclude that in Pakistan, voluntary disclosure has a significant positive relation with stock price synchronicity. Our results suggest that not only public but also the private information incorporate in the stock price and provide inversely U-shape relationship between synchronicity and voluntary disclosure. The results of this study are based on multi-variant analysis, there is a significant positive relation between stock price synchronicity and firm’s voluntary disclosure levels

CHALLANGES AND PROSPECTS FOR TOMATO PRODUCTIVITY IN RESPONSE TO CLIMATIC VARIATIONS: EVIDNECES FROM KHYBER PAKHTUNKHWA-PAKISTAN

Climate change is the momentous and persisting change in the world’s temperature, precipitation, humidity, and other climatic variables. This study, therefore estimated the impact of climatic variations on tomato productivity across agro ecological zones of Khyber Pakhtunkhwa, Pakistan. Panel data for 28 years (1991-2018) across the six districts of the agro ecological was used due to availability of data on tomato productivity and climatic variables. Yield of tomato, area, maximum temperature and rainfall were included in the final estimated model. The results indicate that the average maximum temperature and average maximum temperature square have a significant impact on tomato yield. Average maximum temperature has positive coefficient while the average maximum temperature square has a negative coefficient. This demonstrates that, at first, the tomato yield increases as the temperature rises. It reaches the maximum at the critical temperature (34.95ºC) but shows a decline once the temperature rises from the critical value

Self-medication amongst university students of Karachi: prevalence, knowledge and attitudes

OBJECTIVE: To determine the prevalence, attitude and knowledge of self-medication amongst university students of Karachi, Pakistan. METHODS: This cross-sectional, study was conducted from Jan-Feb 2007. A convenience sample was taken from 2 medical and 2 non-medical universities of the city of Karachi, Pakistan. Data was analyzed using SPSS v 14 and associations were tested using the Chi square test. RESULTS: Of the 572 participants (mean age=21 +/- 1.8 years, Male: Female ratio=1:1.5), 295 were medical and 277 were non-medical students. The prevalence of self-medication was 76%. Forty three percent students stated that they alter the regimen of prescribed medicines while 61.9% stated that they stop taking a prescribed medicine without consulting a doctor. The most common reason for self-medication was previous experience (50.1%) and the most common symptoms were headache (72.4%), flu (65.5%), and fever (55.2%). Commonly used medicines were analgesics (88.3%), antipyretics (65.1%) and antibiotics (35.2%). Eighty seven percent of students thought self-medication could be harmful and 82.5% students thought that it was necessary to consult a doctor before taking a new medicine. There was no significant difference between the self medication practices of medical and non medical students (p=0.8) CONCLUSION: Prevalence of self-medication is high in the educated youth, despite majority being aware of its harmful effects. There is a need to educate the youth to ensure safe practices. Strict policies need to be implemented on the advertising and selling of medications to prevent this problem from escalating

Sonographic Association of Uterine Artery Pulsatility Index with Hypertension During Third Trimester of Pregnancy

Background: Hypertension (HTN) in pregnancy is the second most basic reason for maternal death and cause obstetric complications in 5-10% of all pregnancies. HTN directly affects the blood flow of uterine artery.  Doppler screening test is a valuable method to do safe and non-invasive detection and has high reliability in the detection of uterine artery blood flow characteristics. Objective: The purpose of the present study is to find association between predictive value of uterine artery pulsatility index in normal and hypertensive pregnancy during third trimester. Methods: A descriptive cross-sectional study was conducted with the sample size of 138 patients by selecting the convenient sampling from Ghurki Trust Teaching Hospital, Lahore. The pulsatility index of uterine artery of all the women with normal singleton pregnancy and hypertensive during third trimester of pregnancy were obtained using Doppler ultrasound. Data was analyzed with the help of Anova .The results were derived by mean, frequency and standard deviation . Results: The significance between groups was 0.002. The mean values of right and left uterine artery pulsatility index of 36 hypertensive patients were 1.40 and 1.41 and standard deviation 0.4 and 0.5 respectively whereas the mean values of right and left uterine artery pulsatility index of 102 normal patients were 0.739 and 0.77 and standard deviation 0.23 and 0.5 respectively Conclusion: Our study concluded that there was an association between uterine atery pulsatility index and hypertension during pregnancy. The uterine artery pulsatiltiy index has increased with hypertension in third trimester of pregnancy. Keywords: Hypertension, Pulsatility Index, Doppler Ultrasound DOI: 10.7176/JHMN/72-07 Publication date:March 31st 202

Stimulating appearance comparison dynamics and their effects on psychological dysfunctions: The moderating role of self-compassion

In recent decades, attitudes towards appearance comparison, and self-disapproval have rapidly increased, and these are attitudes strongly associated with psychological disorders. The present study aims to investigate the underlying patterns of depression, appearance-based stress, dietary constraints, and social and celebrity appearance comparison among young adults. It also examines the role of self-compassion in moderating the relationship between psychological dysfunctions and appearance comparison as well as the criteria and influences contributing to appearance comparison. Data on BMI, the measures of depression, appearance-based stress, eating restraints, appearance comparison, self-compassion, and predictors of peers and celebrity appearance comparison were collected from 434 college students (Age: Mean = 22; SD = 2.36; Male = Female = 217) in Sialkot, Pakistan. The data was analyzed by using the Hierarchical Regression Model. The results revealed that respondents who compared their appearances to peers and celebrities had increased depression and appearance-based stress while eating constraints didn’t affect the appearance-based comparison, stress, and depression. Moreover, self-compassion significantly moderated the relationship between depression, appearance-based stress, and appearance comparison whereas an insignificant moderation effect is observed between eating restraints and self-compassion. Despite psychological distresses such as depression, appearance-based stress, and eating restraints, appearance comparisons are connected to appearance-based victimization, media appearance pressure, social-cultural appearance pressure, appearance conversation, and self-consciousness

Frequency and Anatomical Distribution of Pulmonary Embolism on CT Pulmonary Angiography

Background: Pulmonary embolism, with its growing prevalence, has become a potentially life-threatening medical condition with crucial symptoms. However, prognosis is good if timely diagnosis is made and to the level of segmental and sub segmental arteries as well. Standard computed tomography pulmonary angiography (CTPA) is thus used to diagnose acute pulmonary embolism. Objective: The primary objective of the current study was to determine and investigate the anatomical distribution frequency of pulmonary emboli, where segmental, sub segmental, and lobar arteries on CT pulmonary angiography are included. Methodology: In a descriptive cross-sectional study, single-centered studies and CTPA scans of 98 patients were included. Data was obtained from Shalimar Hospital and University of Lahore – Teaching Hospital, Lahore, Pakistan. Sample size included patients of all age groups with suspected pulmonary embolism, with no differentiation of male or female samples. Results: According to statistics and analysis, the current study results indicated the presence of pulmonary embolism in 36 patients and its absence in 62 patients. Results indicated that amongst the 98 patients scanned, the highest frequency of pulmonary emboli was found in the pulmonary trunk and lobar artery in 8 patients (8.2%). Furthermore, CTPA of the participants detected pulmonary emboli in segmental and sub-segmental arteries of 5 patients (5.1%), with another 2 patients showing pulmonary emboli in only the sub-segmental artery (2.0%). Another 2-2 patients showed pulmonary emboli in lobar and segmental artery and lobar, segmental and sub-segmental artery respectively (2.0%, 2.0%). Conclusion: The largest number of pulmonary emboli were found in the pulmonary trunk, followed by emboli of segmental and lobar arteries in patients. It is concluded that CTPA evaluates pulmonary embolism with great precision and anatomical distribution localized main trunk, and pulmonary artery emboli along with lobar, segmental and sub-segmental artery emboli. Keywords: Computed Tomography Pulmonary Angiography (CTPA), pulmonary emboli, segmental artery, sub segmental artery, lobar arteries DOI: 10.7176/JHMN/100-02 Publication date:May 31st 202