Country-Level Risk and the trade-off between real earnings management and accrual earnings management: evidence from pakistan

Abstract   The aim of this study is to understand whether real earnings management (REM) and accruals earnings management (AM) can be used as substitute of one another in the context of Pakistan. Additionally, we also examine the effect of country-level political risk on earnings management. To achieve our desire objectives, we used a panel sample of 197 Pakistani firms for a period of 13 years (2007-2019). To measure REM, we follow Roychowdhury (2006) and to measure AM, we follow Jones (1991) and modified Jones (1995) model. For data analysis, we used simultaneous equation modelling and ordinary least square (OLS) regression with time and firm fixed effects. The results indicate that when the cost associated with REM(AM) increases, the firm’s inclination towards AM(REM) decreases which suggests that managers use both REM and AM approaches as substitutes of one another. Further, the results show that country-level political risks positively affect real REM while it has insignificant effect on AM. Moreover, the adoption of IFRS as accounting standards does not have any effect on the earnings management in Pakistan. This study can be extended to firm-level risk factors to examine their role in earnings management. Moreover, how manager use to adopt REM and AM in the highly regulated industries i.e., financial and services industries, also provides a promising opportunity for future research

Study on significant changes in calcium, phosphorus and thyroid hormones level in hypothyroidism patients

Background: Thyroid hormones have a vital role in metabolism of lipids, cholesterol etc. They also have an important role in phosphorous and calcium homeostasis by their direct effect on bone turnover. The objective of present study was to find the significant differences of T3, T4, TSH, lipid profile (HDL, LDL, vLDL, TG, Cholesterol), electrolytes and minerals (sodium, potassium, chloride, phosphorus, calcium) between control group and hypothyroidism patients.Methods: Blood samples were collected from 72 patients and 12 control after their consent. Serum was used to determine biochemical parameters using standard protocol. Data obtained were statistically analyzed using “t” student test.Results: The level of TSH was significantly higher in female and male hypothyroidism patients (p < 0.01) as compared to control and it was inversely related to the level of T3 and T4. Patients with hypothyroidism have increased level of LFTs profile especially cholesterol and Triglycerides levels both in males and females. In hypothyroidism, the level of glomerulus filtrate rate decrease especially sodium level but thyroid hormonal disturbance does not affect serum electrolyte level. The serum phosphorus and calcium levels change significantly in thyroid disorder.Conclusion: Hypothyroidism is associated with increased TSH level and decreased T3 and T4 levels but does not appear to be associated with abnormalities in lipid profile. The serum phosphorus and calcium levels change significantly in thyroid disorder, Treatments of its primary causes should be given and if it is possible minerals can be added to avoid further bone complications.Keywords: Hypothyroid; T3; T4, TSH; Lipid profile; Minera

Study of diagnostic and prognostic parameters in Breast cancer patients without metastasis

Background: Carcinoma of the breast is the most prevalent cause of mortality from cancer in women aged 40-69 years. The aim of the present study was to examine any alteration in the status of lactate dehydrogenase, ferritin, gamma glutamyl transferase, Platelets, hemoglobin, alkaline phosphatase, aspartate transaminase, alanine transferase and bilirubin in the plasma of breast cancer patients without distant metastasis, to establish their diagnostic and prognostic values.Methods: Current reading describes a study conducted on 50 breast cancer patients from Institute of Nuclear Medicine and Oncology (Lahore). The patients were clinically categorized as stage II (19 patients) and stage III (29 patients) respectively. Most of the patients were diseased with infiltrative ductal carcinoma (48) of the breast. Blood samples of all patients were collected after forty days of chemotherapy course besides 10 healthy subjects.Results: There was a significant rise in LDH (221.48 ± 18.44) and Ferritin (356.46 ± 12.28) levels as compared to control groups. Concentration of GGT (34.12 ± 1.61) was also elevated but not significantly raised. There was no significant rise in ALP (279.27 ± 26.60), AST (49.44 ± 8.510), ALT (33.40 ± 2.83), bilirubin (4.87 ± 3.96), Hb (11.16 ± .299) and platelets (032.54 ± 21.68) levels in comparison to normal control subjects. An elevation of LDH and ferritin levels in cases of carcinoma breast signifies its importance as a biomarker of disease. A serial measurement of these enzymes would have diagnostic and prognostic significance and help treatment decisions.Conclusion: The ferritin along with lactate dehydrogenase can be used as a valuable biomarker for breast cancer diagnosis and prognosis.Keywords: Breast cancer; Prognostic parameters; Treatment; Metastasi

Cloning and expression of hepatitis B surface gene in E. coli

Background: Hepatitis B virus (HBV) is among the smallest DNA viruses resulting in ~800,000 deaths each year. Pakistan is considered a country affected by HBV. In Pakistan, the most dominant genotype is D. HBV is an enveloped virus of 3.2 kb. The study's goal was to express hepatitis B surface antigen in a bacterial host to produce a recombinant protein.Method: Blood samples were collected in EDTA coated vacutainer from patients after their consent. DNA was extracted from serum through the phenol-chloroform method; Hepatitis B surface gene was cloned in TA cloning vector, subclone in pET 28a expression vector. An expression vector containing the Surface gene was then transformed into a competent bacterial host BL21 and inducted with IPTG at 0.1-0.2mM concentration for expression. The expressed proteins (soluble and pellet form) were analyzed on SDS PAGE.Results: Hepatitis B Surface gene of 681bp after PCR were detected under UV light then successfully cloned and subcloned in pET 28 expression vector. The restricted fragment indicating the gene of interest was 681bp when analyzed on 1.2% Agarose gel under UV light. The required protein of 25kDa was obtained in soluble form when detected on 12% SDS PAGE after staining with Coomassie Blue dye.Conclusion: Hepatitis B surface gene was successfully expressed in both insoluble and pellet forms using E.coli. The expression of surface protein needs to maximize through optimizing conditions to be used as potent candidate for vaccine production to prevent hepatitis B infection.Keywords: Hepatitis B virus; Surface gene; Cloning vector; pET expression vector  

Circulation of Dengue Serotypes in Local Population of District Lahore, Pakistan

Infection with dengue virus (DENV) is considered as serious public health issues internationally as amounted to 2.5 billion people are at infection risk throughout the world. Dengue is now endemic in Pakistan. Till now, no licensed vaccine is available against dengue virus infection. The main purpose of this study was to find out differences in the levels of IgM and IgG on gender basis as well as distribution of dengue serotypes in the local population of district Lahore, Pakistan. Fifteen blood samples including 3 control sample were collected from dengue infected patients and statistical results showed significantly higher mean levels of IgM (1.12 + 0.09) and IgG (2.07 + 0.56) antibodies in patients as compared to control groups for IgM (0.34 + 0.05) and IgG (0.10 + 0.05) antibodies respectively. Statistical results on Gender base showed significantly higher mean levels of IgM (1.10 + 0.19) in males and of IgG (2.27 + 0.74) in females. The enveloped gene of 1.5 kb was successfully amplified through polymerase chain reaction and cloned in ?TZ57R/T. The cloned gene was then confirmed through restriction digestion. Out of 15 dengue samples, only 3 dengue samples were successfully amplified using polymerase chain reaction which all belongs to serotype 2 In future, it may contribute in development of treatment to dengue infection with dengue virus type 2 which is more prevalent in district Lahor

Actinobacteria: Potential Candidate as Plant Growth Promoters

Plant growth enhancement using plant beneficial bacteria has been viewed in the sustainable agriculture as an alternative to chemical fertilizers. Actinobacteria, among the group of important plant-associated bacteria, have been widely studied for its plant growth promotion activities. Actinobacteria are considered as a limelight among agriculturists for their beneficial aspects toward plants. They are naturally occurring spore-forming bacteria inhabiting the soil and known for their plant growth-promoting and biocontrol properties. The mechanisms behind these activities include nitrogen fixation, phosphate solubilization, siderophore production, and other attributes such as antifungal production of metabolites, phytohormones, and volatile organic compound. All these activities not only enhance the plant growth but also provide resistance in plants to withstand unfavorable conditions of the environment. Hence, this chapter emphasizes on the plant growth traits of actinobacteria and how far it was studied for enhanced growth and bio-fortification

THE IMPACT OF BANK DIVERSIFICATION ON STOCK MARKET VALUE: EVIDENCE FROM PAKISTAN

Although commercial banks have gradually followed the diversification strategy and sneaked into non-traditional activities for further income sources, studies on diversification outcomes provide diverse results. This research investigates how stock market values bank diversification using a data set of Pakistani listed banks for the period 2009-2017. Over all we find a negative relationship between bank diversification and stock market valuation. This implies investor prefer to invest in the banks who focus on traditional activities

THE IMPACT OF CORPORATE GOVERNANCE BOUNDARIES ON INVESTMENT EFFICIENCY: EVIDENCE FROM PAKISTAN

This study has made an attempt to identify the potential impact of Corporate Governance Boundaries (CGB) on the corporate Investment Efficiency (IE) among the listed companies in the Pakistan Stock Exchange (PSX) having active subsidiary firms. The objective of the research is broadening the horizon in investment efficiencies for better economic development. Pakistan is a developing economy with higher turbulence in both internal and external environments, continuously affecting the decisions of the corporate sector to extend their governance boundaries and investment efficiencies. Thus, the financial data of 22 listed companies with PSX published during the past 10 years (2010-2019) have been considered for the identification of impacts of CGB on the IE by using Panel regression test. The results have shown that CGB significantly improves the efficiency of investment, moreover, it also identifies the potential role of debt constraints. The role of debt constraints is evident as positively related to corporate governance and investment efficiency in the relevant literature. The debt constraints have correlation with CGB and IE as the financial institutions have been more confident of advancing their services to an organization. An increase in debt helps in improving investment efficiency with the expansion of CGB

Serum MicroRNAs as Predictors for HCV Progression and Response to Treatment in Pakistani Patients

Hepatitis is one of the common liver diseases, imposing a heavy health burden worldwide. Acute hepatitis may develop into chronic hepatitis, progressing to cirrhosis and hepatocellular carcinoma. In the present study, the expression of miRNAs was quantified by real-time PCR, such as miRNA-182, 122, 21, 150, 199, and 222. Along with the control group, HCV was divided into chronic, cirrhosis, and HCC groups. The treated group was also included after the successful treatment of HCV. Biochemical parameters, such as ALT, AST, ALP, bilirubin, viral load, and AFP (HCC), were also evaluated in all of the study groups. We compared the control and diseased groups; these parameters showed significant results (p = 0.000). The viral load was high in HCV but was not detected after treatment. miRNA-182 and miRNA-21 were overexpressed with disease progression, while the expression of miRNA-122 and miRNA-199 was increased compared with the control, but decreased in the cirrhosis stage compared with chronic and HCC. The expression of miRNA-150 was increased in all of the diseased groups compared with the control, but decreased compared with the chronic group. We compared the chronic and treated groups and then all of these miRNAs were down-regulated after treatment. These microRNAs could be used as potential biomarkers for diagnosing different stages of HCV

Serum MicroRNAs as Predictors for HCV Progression and Response to Treatment in Pakistani Patients

Hepatitis is one of the common liver diseases, imposing a heavy health burden worldwide. Acute hepatitis may develop into chronic hepatitis, progressing to cirrhosis and hepatocellular carcinoma. In the present study, the expression of miRNAs was quantified by real-time PCR, such as miRNA-182, 122, 21, 150, 199, and 222. Along with the control group, HCV was divided into chronic, cirrhosis, and HCC groups. The treated group was also included after the successful treatment of HCV. Biochemical parameters, such as ALT, AST, ALP, bilirubin, viral load, and AFP (HCC), were also evaluated in all of the study groups. We compared the control and diseased groups; these parameters showed significant results (p = 0.000). The viral load was high in HCV but was not detected after treatment. miRNA-182 and miRNA-21 were overexpressed with disease progression, while the expression of miRNA-122 and miRNA-199 was increased compared with the control, but decreased in the cirrhosis stage compared with chronic and HCC. The expression of miRNA-150 was increased in all of the diseased groups compared with the control, but decreased compared with the chronic group. We compared the chronic and treated groups and then all of these miRNAs were down-regulated after treatment. These microRNAs could be used as potential biomarkers for diagnosing different stages of HCV