Financial liberalization and macroeconomic performance, empirical evidence from selected Asian countries

Financially repressed economy cannot grow with an increasing growth rate. That’s why most of the developing countries move toward liberalized financial system. The basic objective of this paper is to provide a comparative analysis of Pakistan, China, and India financial sector liberalization and its impact on macroeconomic performance. This study uses Johansen co integration to provide cross country evidence of long run relationship between macroeconomic variables and financial openness. Results show that there is long run relation among financial openness and macro economic performance in all three countries. Financial liberalization has positive and significant effect on Pakistan macroeconomic performance while negative and significant effect on china economy. The relationship in India is positive but not significantFinancial liberalization, financial depth. Economic growth

MAXIMIZING THE ELECTROCATALYTIC ACTIVITIES OF NON-NOBLE TRANSITION METAL???S COMPOUNDS FOR WATER ELECTROLYSIS

Department of Chemical EngineeringThe rapid growth in population and advancement in heavy industry, has badly influenced world economy due to sharp rise in cost of oil prices. Currently, about 80% of energy is produced from fossil fuels, which adds greenhouse gases (CO2, SOx & NOx) to the environment by increasing global temperature and environmental pollution. Therefore, development of sustainable, environmentally friendly and alternatives energy sources to fossil fuels attracts much attentions in recent decades. Among the various alternative advanced clean energy technologies, the fuel cells, CO and CO2 to liquid fuel conversions, water electrolysis, solar, wind, marine energy, electrochemical energy storage (EES) devices including various types of batteries and supercapacitors (SCs) have been attracted much attention in recent years. Although, many efforts have been exercised to improve these technologies but they are still facing many challenges like high cost, durability, reliability, efficiency and maintenance to commercialize at public sectors. The hydrogen (H2) is the only alternative clean fuel which can mitigate energy and environmental related issues. Among the various alternative energy technologies, for example fuel cells, CO2 conversions and water electrolysis uses hydrogen as the primary energy carrier. Currently, about 95% of total hydrogen is produced by using conventional technologies like steam methane reforming (SMR) and coal gasification (CG). Evidently, these methods are adding more greenhouse gases to the environment and the quality of hydrogen is also poor. The pure hydrogen is generated by water electrolysis which is usually conducted either photochemically and photoelectrochemically or electrochemically. Amongst all water electrolysis processes, the electrochemical water splitting is the only available greener, sustainable and rapid route of generating highly pure H2 at commercial scale. Transition metal compounds (TMCs) such as phosphides, carbides and chalcogenides have attracted massive attention as alternatives of noble metals (Pt, Ru or Ir) since last few years due to their superior electrical conductivity, mechanical strength, and chemical stability. In spite of the success, there are still many challenges like poor performance, stability in wide pH range, expensive and poisonous starting precursors, environmentally unsafe synthetic procedures, lack of in-depth mechanistic knowledge and so on which are creating hurdles for sustainable hydrogen production with both economic and environmental advantage. Here, simple, economical, ecofriendly and commercially adoptable synthesis procedures are developed to increase the number of active sites and intrinsic catalytic activity of transition metals carbides, phosphides and sulfides through heteroatom doping. Moreover, these nanostructures are grafted on conductive substrates (like doped-graphene, carbon cloth, nickel foam etc.) for electrochemical water splitting applications. The electrochemical properties of molybdenum carbides are tuned either by encapsulating or imbedding them in boron (B) and nitrogen (N) co-doped carbon network (BCN) via a unique organometallic complex-assisted approach. Due to the synergic effect of BCN network, the molybdenum carbides show a remarkable electrocatalytic hydrogen evolution (HER), oxygen evolution (OER) and oxygen reduction (ORR) performances and excellent durability in both acidic and basic aqueous defeating the most of earlier reported molybdenum carbides based electrocatalyst in the literature. The mechanistic study for water electrolysis and the synergic effect BCN network at electrochemical performance of molybdenum carbides is also discussed in detail. The intrinsic catalytic activity stability of molybdenum phosphides nanocrystallite (MoP) are modulated by dual-doping of S and N into its structure via a unique, inexpensive and environmental-friendly thiourea-phosphate-assisted rout. The number of active sites are also increased by controlling the shape of nanoparticles and loading them on S, N self-doped graphene. The obtained MoP/SNG catalysts displays extraordinary hydrogen evolution (HER) performance in both acidic and alkaline media. Similarly, the sulfur-doped CoP (S:CoP) and Co2P (S:Co2P) nanoparticles are also synthesized as a noble metal-free electrocatalyst via above indigenously developed thiourea-phosphate-assisted route. The S-doped Co-phosphide based electrode exhibits excellent activity and stability for overall water splitting defeating noble mental-based Pt/C, IrO2, and reported non-noble metal-based electrocatalysts. Density functional theory calculations reveal that the excellent activity is attributable to the modified electronic structures of Co-phosphides which favor the overall water splitting at both S:CoP and S:Co2P electrodes. The S-doping also increases the number of exposed active sites especially on the conductive substrates which works as the excellent alkaline electrolyzers for overall water splitting. The electroctalytic hydrogen evolution reaction (HER) activity of MoS2 increases when it possesses multifunctional active sites including structural defects, Mo-exposed edges, S-vacancies, 1T-phase and expanded interlayer distances. Previous reports on MoS2-based catalysts targeted only a single or few of these active sites, the all-in-one MoS2 electrocatalyst synthesized herein contains all of the above characteristics by using a supramolecular structure of melamine-phosphomolybdate (MA-PMo12) and a weakly reducing thiourea. During preparation, the in-situ produced NH3 gas acts as interculants between MoS2 sheets and makes expanded interlayers spacing ammoniated 1-T MoS2 (A-MoS2). After reduction of guest NH3 into interlayer-expanded MoS2 in hydrogen leads to form an MoS2 with multiple active sites described above (R-MoS2) which exhibits surprisingly high hydrogen evolution reaction (HER) activity in alkaline media outperforms to all earlier reported MoS2-based electrocatalysts.ope

Deterministic scheduling for energy efficient and reliable communication in heterogeneous sensing environments in industrial wireless sensor networks

The present-day industries incorporate many applications, and complex processes, hence, a large number of sensors with dissimilar process deadlines and sensor update frequencies will be in place. This paper presents a scheduling algorithm, which takes into account the varying deadlines of the sensors connected to the cluster-head, and formulates a static schedule for Time Division Multiple Access (TDMA) based communication. The scheme uses IEEE802.15.4e superframe as a baseline and proposes a new superframe structure. For evaluation purposes the update frequencies of different industrial processes are considered. The scheduling algorithm is evaluated under varying network loads by increasing the number of nodes affiliated to a cluster-head. The static schedule generated by the scheduling algorithm offers reduced energy consumption, improved reliability, efficient network load management and improved information to control bits ratio

The challenges to women's entrepreneurial involvement in the hospitality industry

Entrepreneurship is one of the growing trends, and studies are focusing on it generally. However, this study is mainly focused on women’s entrepreneurship. This study intends to measure the impact of work-family interference, socio-cultural support, access to finance entrepreneurial skills, and legal constraints on women’s entrepreneurial involvement through the mediation of self-leadership in the hospitality and tourism sector. This study has chosen a quantitative approach, collecting data through surveys. The snowball sampling method was used for data collection from women of Pakistan, and data was analyzed through the PLS-SEM method. The result of the present study affirms that work-family interference, social and cultural support, and entrepreneurial skills are significantly associated with women’s entrepreneurial involvement other than access to finance and legal constraints. Moreover, self-leadership significantly mediates between (work-family interference, socio-cultural support, and access to finance) and women’s entrepreneurial involvement except for entrepreneurial skills and legal constraints. The present study’s findings affirm that formal or informal institutions influence women’s entrepreneurial involvement. This study may help women entrepreneurs understand the factors and policymakers to make policies for women entrepreneurs in the hospitality sector

The challenges to women's entrepreneurial involvement in the hospitality industry

Entrepreneurship is one of the growing trends, and studies are focusing on it generally. However, this study is mainly focused on women’s entrepreneurship. This study intends to measure the impact of work-family interference, socio-cultural support, access to finance entrepreneurial skills, and legal constraints on women’s entrepreneurial involvement through the mediation of self-leadership in the hospitality and tourism sector. This study has chosen a quantitative approach, collecting data through surveys. The snowball sampling method was used for data collection from women of Pakistan, and data was analyzed through the PLS-SEM method. The result of the present study affirms that work-family interference, social and cultural support, and entrepreneurial skills are significantly associated with women’s entrepreneurial involvement other than access to finance and legal constraints. Moreover, self-leadership significantly mediates between (work-family interference, socio-cultural support, and access to finance) and women’s entrepreneurial involvement except for entrepreneurial skills and legal constraints. The present study’s findings affirm that formal or informal institutions influence women’s entrepreneurial involvement. This study may help women entrepreneurs understand the factors and policymakers to make policies for women entrepreneurs in the hospitality sector

Determinants of customer citizenship behaviour in Pakistan aviation sector of Pakistan

There is a rising interest in aviation sector branding strategies to gain customers’ supportive behaviour and loyalty towards a brand. It is important to know how branding strategies influence customers’ loyalty, and how to appeal to them to adopt citizenship behaviour. Therefore, the aim of the study was to investigate the relationship between brand experience (BE), brand image (BI), and brand awareness with customer citizenship behaviour (CCB) with the mediation effect of brand loyalty (BL). This study assumed that brand experience (BE), brand image (BI), brand awareness and brand loyalty contribute towards the adoption of CCB. The study was based on the stimulus organism response theory (SOR) to fill the gap between branding strategies and customer citizenship behaviour. For this purpose, data was collected from 377 respondents through the systematic intercept survey at the major airports of Pakistan. The data was analysed by using the Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings of the study reveal a significant relationship between brand experience towards brand loyalty and CCB with the mediation effect of brand loyalty. Brand image also has a significant relationship between brand loyalty and CCB with the mediation effect of loyalty. Brand awareness is insignificant with brand loyalty and also with CCB with the mediation effect of loyalty. The study concludes with a discussion on its contributions, and recommendations, and provides limitations as well as suggestions for future studies

Recurrent Unresectable Aggressive Fibromatosis of Neck

Aggressive fibromatosis or desmoid tumors are classified as low grade, locally aggressive sarcomas with high propensity to recur and are lacking a clear census on management of recurrent-surgically in excisable tumors. We report here the case of a 27yrs old male with aggressive fibromatosis that recurred following a surgical excision, and resulted in hampering the quality of life. The disease was managed using cytotoxic chemotherapy with doxorubicin, resulting in significant clinical and radiological response. It was followed by maintenance regimen using a less aggressive approach with non-steroidal anti-inflammatory drugs such as celecoxib that resulted in further clinical response at 2 months follow up. Therefore, the therapy was further continued

Explorando las Barreras al Aprendizaje en Línea durante la Pandemia de COVID-19. Un Caso de Estudiantes Pakistaníes de IES [Instituciones de Educación Superior]

The main objective of this study is to explore various barriers that are preventing Pakistani HEIs (universities) students from learning online in this COVID-19 pandemic. Applying a qualitative research design, twelve (12) in-depth interviews were conducted with individual business school participants (students), selected at undergraduate and graduate levels to participate. Data were collected from six (06) universities in Islamabad, Pakistan. After collecting the data using a self-developed questionnaire, a thematic analysis method within the qualitative research was applied to uncover several barriers relating to the objective of this study. Eight themes emerged from the interview data: internet technology access, the content of digital slides, student’s perception towards online learning, power outages during COVID-19 pandemic, students’ fear of losing marks and impact on employment, faculty skills in using technology to teach online, student’s stress and health in the COVID-19 pandemic and student skills to use distance learning tools. Based on the findings, students who live in rural areas are more affected by online learning during the COVID-19 pandemic than students in urban areas due to identified barriers and, most importantly, lack of technology infrastructure. Opportunities and future recommendations have been provided to the relevant authorities to conduct and deliver smooth online education in the country during pandemic.El principal objetivo de este estudio es de explorar varias barreras que previenen a los estudiantes de educación superior (universidades) de Paquistán de aprender en línea en esta pandemia de Covid-19. Al aplicar un diseño de investigación cualitativa, doce (12) entrevistas en profundidad se llevaron a cabo con participantes de la escuela de negocios, seleccionados en niveles de pregrado y posgrado. Los datos se recolectaron de seis universidades en Islamabad, Paquistán. Luego de recolectar los datos usando un cuestionario de desarrollo propio, se aplicó un método de análisis temático dentro de la investigación cualitativa para descubrir varias barreras relacionadas con el objetivo de este estudio. Ocho temas emergieron de los datos de las entrevistas, tales como: acceso a internet, el contenido de diapositivas digitales, la percepción de los estudiantes hacia el aprendizaje en línea, cortes de energía durante la pandemia, miedo de los estudiantes a perder notas y su impacto en el empleo, habilidades del profesorado en el uso de la tecnología para enseñar en línea, el estrés de los estudiantes y la salud, y las habilidades para usar herramientas de aprendizaje a distancia. Basado en los hallazgos, los estudiantes que viven en zonas rurales son los más afectados debido a las barreras identificadas y lo más importante a la falta de infraestructura tecnológica. Se han proporcionado oportunidades y recomendación a las autoridades pertinentes para desarrollar y entregar educación en línea fluida en el país durante la pandemia

Portfolio Management And Disposition Effect Empirical Evidence From Pakistan.

Kahneman and Tversky’s approach to preference under uncertainty is aversion to loss realization. This paper is an attempt to highlight this phenomenon with a unique approach. In order to beat the market fund managers are required to manage their portfolio at regular intervals. The tendency to sell the winners too early and ride the losers for long “disposition effect” can affect the Management decision of fund managers. This paper investigates the mediating role of disposition effect between mental accounting, aversion to regret, self control and portfolio Management. For this purpose we use the extended version of Shefrin and Statman framework and include Dyl’s tax consideration. In order to provide empirical evidence survey has been conducted from mutual fund managers.  CFA and Cronbach’s alpha is used to test the reliability of the instrument. AMOS tool is used to test the structure equation model for disposition effect and portfolio Management. Results confirmed that disposition effect plays significant role of mediator between mental accounting, aversion to regret, self control and portfolio Management. However tax consideration has direct loading on forward Management. It means that disposition effect plays significant role in decisions of fund managers; however investors are aware of tax consideration

The challenging factors affecting women entrepreneurial activities

The purpose of this study is to investigate the factors such as access to finance, legal constraints, and entrepreneurial skill on women's participation in business activities. The mediating effects of self-leadership were also established as an influence on women's participation in business activities. Moreover, the study examined the moderating effect of education among self-leadership and participation of women in entrepreneurial activities. The study selected a quantitative method and structured questionnaire for the data collection. The study found a significant relationship of the effect of access to finance, legal constraints, and entrepreneurial skill with women's participation in entrepreneurial activities. Moreover, the study found a significant mediating effect of self-leadership between factors and women's participation in entrepreneurial activities as well as a significant moderating effect of education between self-leadership and participation of women in entrepreneurial activities. The study suggests that the government and other institutions should take the initiative in women's entrepreneurship that affects women's self-leadership skills. The policymakers should pay attention to the financial concerns of women in business activities