Impact of Corporate Governance on Performance of a Firm: A Comparison between Commercial Banks and Financial Services Companies of Pakistan

There is vital role of corporate governance in the establishment of a competitive market; this is also suggested by the empirical studies that nations having good corporate governance practices tend to have strong growth in their corporate sectors. This study examines the impact of corporate governance on the performance of firm. The impact of Board attributes, Audit committee attributes and Ownership attributes was check on Return on Equity and Return on Assets of the Firms. The data related to the study was for Six years from 2009 to 2011 from 9 commercial banks and 9 financial service companies, listed in Karachi Stock Exchange based on convenience sampling. There were total 108 panel observations. Multiple regression (Panel least square) was used to analyze the data.The results show that Board Independence has significant impact on Return on Equity of the firm while Board size and Audit Committee Independence have significant impact on Return on Assets. Keywords:Board size, Audit Committee Independence, Board independence, Ownership Structure, Ownership concentration, Corporate governanc

Complete mechanical model of a very large submerged membrane bioreactor

Membrane bioreactors (MBRs) are successfully being adopted in super-large-scale (>100,000 m3 .d-1 ) applications due to several advantages, mainly superior and consistent effluent quality. Moreover, the significant reduction in the membrane and operating costs has contributed to its wider acceptance. Despite their considerable evolution in the recent past and large-scale applications in municipal wastewater treatment, fouling and the cost associated with its mitigation are still hot topics and need the attention of researchers and academia to optimize and reduce the expense of MBR in the range of the conventional activated sludge process (CASP). Mathematical modeling is a great tool to explore the model-based optimization of operating costs associated with fouling mitigation strategies. For this, a comprehensive and integrated process model must be adapted, calibrated, and validated at a super-large-scale facility. MBR involves complex interactions between biology and filtration, and its modeling is challenging without considering these interactions. In the recent past, integrated models have been developed and applied to MBRs, ranging from bench to pilot scales and rarely for full-scale facilities of capacity up to 15,000 m3 .d-1 . In this work, a superlarge-scale MBR plant with a design capacity of 348,000 m3 .d-1 is dynamically modeled to simulate the depollution and filtration-fouling processes. The integrated model combines biochemical (ASM3-SMP-EPS-Bio-P, aeration, chemical precipitation), resistance in series (RIS) fouling, and energy sub-models. The comprehensive, integrated model is capable of simulating a) biological processes to describe the stoichio-kinetic activity of the biomass for carbon oxidation and nutrient removal (i.e., Nitrogen and Phosphorus) coupled with EPS-SMP production and degradation processes; b) the role of biological process aeration in carbon oxidation and nitrification under the influence of MLSS; c) the numerical balance of the volumes of the influent, effluent, sludge and all internal and external recirculation; d) coagulant addition inducing chemically enhanced phosphorus removal (CEPR) in addition to enhanced biological phosphorus removal (EBPR); e) fouling dynamics associated with synchronized filtration-relaxation, intermittent air-scouring and backwashing under the influence of transmembrane pressure (TMP), temperature, MLSS, and bound EPSs concentration, and f) specific energy consumption. The model was calibrated using one-week data collected during the first experimental campaign and was validated against 92 days of data from the plant with and without the addition of FeCl3. The calibrated integrated model provided an acceptable correspondence for pollutants (COD, NOx, NH4, PO4 3- , MLSS, EPSs, and SMPs) removal and prediction of the TMP, a direct indicator for fouling development. The model also successfully produced acceptable datasets not available from routine measurements, e.g., the evolution of the biomass and transformation of the pollutants in each reactor in series. Moreover, the model can provide detailed insights into reversible and irreversible fouling dynamics under the synchronized influence of multiple fouling abatement controls, including filtration-relaxation, intermittent air-scouring, and backwashing. In order to be used to develop model-based controls and intelligent decision-making tools to optimize the functioning of the full-scale MBRs, particularly the air-scouring and activation and de-activation of the chemical washes to save energy and chemicals, this model would have to be validated in fouling conditions. Since it was not possible to test the limits of the model, the sensitivity analysis approach was investigated

Factors influencing intention to create new venture among young graduates

The purpose of this paper is to investigate the factors that are influencing the young graduates for intention to create new venture. The study further highlights how the attraction, networking support, entrepreneurial capabilities, self-independence and self-reliance influence the young students to initiate their new businesses. The sample size of this study was 255 final semester students of various disciplines in different universities from Islamabad and Rawalpindi. The survey based questionnaire was used for data collection. Based on findings this study concludes that all variables, included in the study, play a vital role in new venture creation. Therefore, on the basis of findings this study concludes that young students are more motivated towards new venture creation and start their own businesses.Influencing factors, new venture creation, different disciplines, young graduates, motivation

DETERMINANTS OF REMITTANCE: PAKISTANI MIGRANTS IN YIWU, CHINA

Remittances are the transformation of payment send by international migrants to be used in their home country. This study explains the remitting behavior of Pakistani migrants in Yiwu. For this study, the primary data were used for analysis which collected. Of these, 116 Pakistani migrants participated in the interview. Snowball sampling technique used to collect data. Linear regression model used to estimate the likelihood and determinants of remittance of migrants. The results show that Pakistani migrants remit 50,290 Yuan per year on average. More than 91% Pakistani migrants are sending remittance to their home country. This research shows that Pakistani migrants are sending money to their families and parents that are purely altruistic. The main contribution of this research is to explore the relationship between various factors and remittances.  Article visualizations

Quinine Induced DIC

There are only a handful of case reports of Disseminated Intravascular Coagulopathy (DIC) as a result of quinine use however it is important to recognise this early especially when quinine has not been prescribed for managing malaria. Off licence use of any medicine may result in serious complications, quinine induced DIC is one of them.

Energy Consumption and Economic Growth in Pakistan: A Sectoral Analysis

The study aimed at investigating the relationship between energy consumption at aggregate and disaggregate levels i.e., oil, coal, gas and electricity in different sectors (commercial, agriculture, industry, power and transport) of the economy with the economic growth in Pakistan. Annual time series data for the time period ranging from 1972 to 2014 has been used in this study. Autoregressive distributed lag bound testing approach for cointegration and to find the relationship between variables Granger causality test is applied. The results of the study showed that there exists a long run relationship between the dependent variable (economic growth) and independent variables (aggregate and disaggregate oil, coal, gas and electricity consumption in different sectors). It is also found that there exists a Neutrality Hypothesis between aggregate and disaggregate oil consumption and Conservation Hypothesis is found in aggregate and disaggregate coal, gas and electricity consumption. This study recommends that government should increase job opportunities in industrial sector where oil is used for production, shift their burden to cheap available resource from coal and transfer the units of electricity to industrial sector so that economic growth of Pakistan can be enhanced

Energy Consumption and Economic Growth in Pakistan: A Sectoral Analysis

The study aimed at investigating the relationship between energy consumption at aggregate and disaggregate levels i.e., oil, coal, gas and electricity in different sectors (commercial, agriculture, industry, power and transport) of the economy with the economic growth in Pakistan. Annual time series data for the time period ranging from 1972 to 2014 has been used in this study. Autoregressive distributed lag bound testing approach for cointegration and to find the relationship between variables Granger causality test is applied. The results of the study showed that there exists a long run relationship between the dependent variable (economic growth) and independent variables (aggregate and disaggregate oil, coal, gas and electricity consumption in different sectors). It is also found that there exists a Neutrality Hypothesis between aggregate and disaggregate oil consumption and Conservation Hypothesis is found in aggregate and disaggregate coal, gas and electricity consumption. This study recommends that government should increase job opportunities in industrial sector where oil is used for production, shift their burden to cheap available resource from coal and transfer the units of electricity to industrial sector so that economic growth of Pakistan can be enhanced

Turnover Intention and Perceived Organizational Support; Mediating Role of Work Engagement and Organizational Commitment

The purpose of this research is to address practical issues regarding the prediction and prevention of turnover intentions of highly skilled employees by focusing on Perceived Organizational Support and two of its outcomes i.e. Organizational Commitment and Work Engagement. Data was collected from different banks of Lahore i.e; Bank of Punjab, Habib Bank Ltd., Meezan Bank, Alfalah Bank, Standard Chartered, UBL, and MCB were visited. This cross-sectional study has used a quantitative technique in order to collect data from a sample size of 300 respondents. In this study, item response theory is used to select the sample size. To collect the data, the questionnaires were distributed among bankers. The response rate was 93% (i.e. 280 out of 300). Results show that Perceived Organizational support has a high impact on turnover intention whereas the organizational commitment and work engagement both can support the Perceived organizational support. Whereas if Perceived organizational support is increased with the help of Organizational Commitment and Work Engagement there will be less turn over intentions in the Organization

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

Cerebral deep venous thrombosis: case report and literature review

The case of a 28 years old woman presenting with headache, drowsiness and vomiting of a short duration, is presented. She was diagnosed as deep cerebral venous thrombosis on the basis of MRI findings. Treatment with heparin gave completed recovery