The Response of Karachi Stock Exchange to Nuclear Detonation

Stock markets are highly reactive to internal and external developments. News of major events take no time to impact, the Stock Exchange that quite often serves as a barometer of the good and bad for the market. The importance of particular events and their effect on the stock market has been a subject of study in financial literature. Such studies attempt to assess the extent to which stock markets’ performance stray’s from the normal around the time of the occurrence of subject events. The stock market crash in the USA of October 1987 and related crash in the Far East later in January 1998 led to several studies of the event. On October 14, 1987, the US stock market began the steepest decline of its history, culminating in the crash of October 19, when the Dow Jones Industrial Average fell 508 points (22.6 percent). Certain aspects of the event of Black Monday as it is called emphasised the need for research to explore what fundamental economic factors triggered the large decline and the institutional and structural factors that were inherent in the trading strategies of investors. Michell and Netter (1989) have presented evidence that a tax bill containing anti takeover provision proposed by the U.S. House Ways and Means Committee of Oct. 13, 1987 was the economic event that triggered the October 19 crash. Other events and economic conditions during October 14–16 have been cited in the literature including higher than expected trade deficits, rising interest rate and increased worries about the government deficit and fear of inflation by many studies. Certain trading strategies such as index arbitrage and portfolio insurance has been cited by the Report of Presidential Task Force (1988). Roll (1988) has argued the crash did not begin in US since many other world markets experienced a severe decline on October 19 before US markets opened.

The Response of Karachi Stock Exchange to Nuclear Detonation

Stock markets are highly reactive to internal and external developments. News of major events take no time to impact, the Stock Exchange that quite often serves as a barometer of the good and bad for the market. The importance of particular events and their effect on the stock market has been a subject of study in financial literature. Such studies attempt to assess the extent to which stock markets’ performance stray’s from the normal around the time of the occurrence of subject events. The stock market crash in the USA of October 1987 and related crash in the Far East later in January 1998 led to several studies of the event

Factors affecting the perceived public value of social media in Queensland local government councils

The open government initiatives across the world have stimulated wide adoption and use of social media technology (SMT) platforms. SMT has become a mainstream tool in both the private and business sectors. SMT is expected to offer net benefits for public sector and governments at all levels, which can contribute the interactions between government and the citizens. Local government councils have started to exploit the potential that social media offers for citizens to communicate with their councils. These interactions might provide net benefits as public value created by government to stakeholders. Measuring the ability of SMT to interact with citizens to create public value is an issue facing local government in their adoption of SMT. Merely having a social media icon on a webpage does not demonstrate usage of SMT, nor does it necessarily create value nor improve interaction with citizens. This study aims to investigate the factors affecting on the public value of using SMT to communicate with local councils, to measure the public value of social media as perceived by citizens in local councils in Queensland Australia. In order to achieve the research aims, the study model proposed draws upon the Technology Acceptance Model (TAM), Technology Acceptance Model (TAM2), Public Value theory, and Public Value Net Benefits model. The model proposed includes seven constructs: demographic factors, perceived usefulness, and perceived ease of use, intention to use, usage behaviour, types of user participation, and public value of SM. Quantitative research was undertaken with residents across 20 urban and rural Queensland local council areas. The online survey was conducted by a third-party organisation (My Opinions Pty Ltd), obtained 313 responses from residents who use information technology and networks. This study has collected rich and original data regarding public value through social media use in Queensland local councils. A structural equation modelling tool (CO-SEM) was used to assess the online survey results. This study makes a significant contribution to both theoretical and practical perspectives in the management information systems. In the theoretical perspective, the results indicated that the model and its constructs are reliable and valid to identify the concept of SMT initiatives towards public value. Theoretically, the study offers a value-add to the fields of information system (IS), open government, and public administration research by examining the public value of social media use in local government councils. In terms of the practical contributions, this research study offers an in-depth understanding of the public value of SMT in local government. As well as, a practical contribution to local government councils and citizens by providing a framework to examine public value through social media use. Our research findings from the main survey sample indicate that social media technology offers economic and social values. Economic benefits include easy of information, convenience cost, time saving, and increased communication. Using SMT reduces the economic cost of accessing and collecting local councils’ information. Increased communication that achieves more value relating to participation with local councils. Social benefits include well-informedness, trust and participation diction making with local councils. The findings of this research could be a support for Queensland’s local governments to justify their investments in social media. The investments in social media also help local councils’ improvements of the public services effectively and efficiently, particularly who wish to interact effectively with their citizens

The perceived public value of social media in Queensland local Councils

Although many enterprises have been pursuing a digital strategy to facilitate larger and more diverse ecosystems in recent years, there are few successful examples of conglomeration of digital ecosystems through aligning or combining diverse ecosystems. Hybrid organizing is a sound guiding theory that we adopt to examine the nature of conglomeration of digital ecosystems. We construct a theoretical lens aligning hybridization approaches with forms of ecosystems through an organization design based on IT/IS capabilities. Guided by this lens, we conduct an in-depth case study of a successful company in China. This study reveals a process model towards conglomeration of digital ecosystems, which consists of dismissing, separating, and cumulating phases. Our findings contribute to existing body of literature, in the field of digital ecosystems, hybrid organizing and IT/IS capabilities. Core firms of ecosystems can use the model to design and develop digital ecosystems with rational deliberation and planning

On the applicability of numerical tools for simulating wave-ports close to the cutoff frequency

This paper focuses on a common drawback in electromagnetic numerical computer aided design computer aided design (CAD) tools: high frequency structure simulator (HFSS), computer simulation technology (CST) and FEKO, where the excitation by using a wave-port below and close to the cutoff frequency has unreliable values for the reflection coefficient. An example for such problem is presented in the design of a dual horn antenna fed by two different waveguide sections. To overcome this numerical error in the results of these CAD tools, a tapered waveguide section is used in the simulation as an excitation mechanism to the feeding waveguide. The cross section of the input port at this tapered waveguide section is designed to have a cutoff frequency smaller than the lowest frequency under investigation for the original problem. Then, by extracting the effect of the tapered section from the obtained reflection coefficient, it would be possible to obtain the reflection coefficient of the original problem

A Proposed Approach for Predicting Liver Disease

One of the main challenges is to exploit recent technologies in a way that is able to preserve human life. Liver disease is one of the most influencing and largest organs of the human body, which has a great impact on human life, according to the massive number of deaths of this disease. So, it is important to predict liver disease with the maximum possible accuracy, as the current problem is the weak accuracy of predicting liver disease and not predicting the severity of the liver disease. Thus, through this paper, the aim behind our proposed work is to enhance the performance of predicting liver disease, predicting the severity of liver disease, and then building a recommender system that recommends the appropriate medical pieces of advice according to the patients condition using machine learning algorithms and tools like a GridsearchCV tool. Indian liver patients dataset (ILPD) and the hepatitis C virus (HCV) dataset are our training datasets. Hence, the proposed solution enhanced the prediction accuracy of liver disease by 80% and 77 % for extra tree and KNN algorithms when using ILPD datasets. And when using the HCV dataset, the accuracy is achieved by the Gradient boosting algorithm and Logistic Regression by 96% for predicting liver disease, disease severity, and patient recommendation system model

The determinants of dividend policy in Pakistan

This study examines the dynamics and determinants of dividend payout policy of 320 non-financial firms listed in Karachi Stock Exchange during the period of 2001 to 2006. For the analysis we use dividend model of Lintner (1956) and its extended versions in dynamic setting. The results consistently support that Pakistani listed non-financial firms rely on both current earning per share and past dividend per share to set their dividend payments. However, the dividend tends to be more sensitive to current earnings than prior dividends. The listed non-financial firms having the high speed of adjustment and low target payout ratio show the instability in smoothing their dividend payments. To find out the determinants of dividend payout policy dynamic panel regression has been performed. It is found that the profitable firms with more stable net earnings can afford larger free cash flows and therefore pay larger dividends. Furthermore the ownership concentration and market liquidity have the positive impact on dividend payout policy. Besides, the investment opportunities and leverage have the negative impact on dividend payout policy. The market capitalization and size of the firms have the negative impact on dividend payout policy which shows that the firms prefer to invest in their assets rather than pay dividends to their shareholders

Dynamics and determinants of dividend policy in Pakistan (evidence from Karachi stock exchange non-financial listed firms)

This study examines the dynamics and determinants of dividend payout policy of 320 non-financial firms listed in Karachi Stock Exchange during the period of 2001 to 2006. It is also one of the very first examples which try to identify the potential dynamics and determinants of dividend payout in Pakistan by using the well established dividend models in context of emerging market. For dynamic equation we used the extended model of Lintner, Fama and Babiak and ‘Proposed’ model in dynamic setting. The results consistently support that Pakistani listed non-financial firms rely on both the change in dividends and change in net earnings which clearly demonstrate that the firms rely on both current earning per share and past dividend per share to set their dividend payments. However the study clearly shows that dividend tends to be more sensitive to current earnings than prior dividends. The listed non financial firms having the high speed of adjustment and low target payout ratio show the instability to smoothing their dividend payments. To find out the determinants of dividend payout policy dynamic panel regression has been performed. Firstly, profitable firms with more stable net earnings can afford larger free cash flows and therefore pay larger dividends. Furthermore the ownership concentration and market liquidity have the positive impact on dividend payout policy. Besides, the slack and leverage have the negative impact on dividend payout policy. The market capitalization and size of the firms have the negative impact on dividend payout policy which clearly shows that the firms prefer to invest in their assets rather than pay dividends to its shareholders

Dynamics and determinants of dividend policy in Pakistan (evidence from Karachi stock exchange non-financial listed firms)

This study examines the dynamics and determinants of dividend payout policy of 320 non-financial firms listed in Karachi Stock Exchange during the period of 2001 to 2006. It is also one of the very first examples which try to identify the potential dynamics and determinants of dividend payout in Pakistan by using the well established dividend models in context of emerging market. For dynamic equation we used the extended model of Lintner, Fama and Babiak and ‘Proposed’ model in dynamic setting. The results consistently support that Pakistani listed non-financial firms rely on both the change in dividends and change in net earnings which clearly demonstrate that the firms rely on both current earning per share and past dividend per share to set their dividend payments. However the study clearly shows that dividend tends to be more sensitive to current earnings than prior dividends. The listed non financial firms having the high speed of adjustment and low target payout ratio show the instability to smoothing their dividend payments. To find out the determinants of dividend payout policy dynamic panel regression has been performed. Firstly, profitable firms with more stable net earnings can afford larger free cash flows and therefore pay larger dividends. Furthermore the ownership concentration and market liquidity have the positive impact on dividend payout policy. Besides, the slack and leverage have the negative impact on dividend payout policy. The market capitalization and size of the firms have the negative impact on dividend payout policy which clearly shows that the firms prefer to invest in their assets rather than pay dividends to its shareholders