THE COVID-19 PANDEMIC AND INDIAN PHARMACEUTICAL COMPANIES: AN EVENT STUDY ANALYSIS

Although there is a plethora of studies which examine the impact of the COVID-19 pandemic on India’s financial sector, we contribute by investigating the effect of the ongoing COVID-19 pandemic on stock returns of Indian pharmaceutical companies. By employing an event study methodology, our results indicate that the average returns of the pharmaceutical sector are positive during the COVID-19 phase although mixed evidence is found at the firm level. This finding is also robust to alternative model specifications.    Although there is a plethora of studies which examine the impact of the COVID-19 pandemic on India’s financial sector, we contribute by investigating the effect of the ongoing COVID-19 pandemic on stock returns of Indian pharmaceutical companies. By employing an event study methodology, our results indicate that the average returns of the pharmaceutical sector are positive during the COVID-19 phase although mixed evidence is found at the firm level. This finding is also robust to alternative model specifications

Institutional quality and foreign direct investment inflows : evidence from cross-country data with policy implication

Purpose: The study examines the impact of institutional quality on Foreign Direct Investment (FDI) inflows for emerging economies from South Asiain the period 2002-2016. Other economic factors such as globalisation, financial development, and GDP are also considered. Design/Methodology/Approach: The study uses Im-Pesaran-Shin (IPS) panel unit root test to check stationarity property. It uses cross dependency (CD) and cross-sectional augments IPS tests to check cross-sectional dependency and heterogeneity across the group countries. Next, it uses panel ARDL-PMG tests to check the existence of long-relationship among variables. Then, we apply the panel Granger causality test to check the direction of causality. Finally, for the robustness of results, we use the Pedroni co-integration technique. Findings: The study finds the existence of a long-run relationship between institutional quality and FDI inflows. Other economic factors such as globalization and financial development show long-run and strong causality with FDI inflows. However, the short-run unidirectional causality from institutional quality to FDI inflows is not found for all the countries. Finally, institutional quality strongly causes FDI inflows provided paired with either globalisation or financial development. Practical Implications: Institutional quality increases the FDI inflows. Therefore, policymakers should focus on institutional quality along with globalization and financial development for higher inflows of FDI in emerging countries. Originality/Value: The study considers institutional quality as one of the inputs for FDI inflows in selected emerging economies from South Asia. Further, it creates an institutional quality index for the emerging countries to examine the impact on FDI inflows.peer-reviewe

Management Of Extracranial Schwannomas In Head And Neck Region - An Observational Study

ABSTRACT Background: Schwannomas, benign tumors arising from Schwann cells, often manifest as slow-growing lesions in the peripheral nerve sheath. While typically asymptomatic, they can affect cranial and peripheral nerves. Surgical excision is the primary treatment, but preserving nerve function poses challenges. Methods: This retrospective study analyzed 12 cases of benign head and neck schwannomas diagnosed at Department of ENT, SCB Medical College, Orissa, India between 2021 and 2023. Data encompassed patient demographics, tumor characteristics, diagnostic methods, surgical approaches, histopathology, and follow-up outcomes. Pre-operative investigations included Fine Needle Aspiration Cytology, Ultrasonography, and imaging. Results: Predominantly middle-aged and male patients presented with painless swelling, commonly in the cervical region, tongue, nose, and hard palate. Mean symptom duration was 8.5 months. Imaging depicted characteristic features, guiding surgical planning. Various approaches ensured complete excision, preserving nerve function. Histopathology confirmed the diagnosis, with positive S-100 staining. No cases showed malignancy or recurrence during follow-up. Conclusions: Head and neck schwannomas, though rare, present diagnostic and management challenges. Pre-operative diagnosis relies on imaging and biopsy, with surgical excision essential for treatment. Nerve preservation minimizes post-operative complications. Despite diagnostic difficulties, maintaining a high index of suspicion for schwannomas in patients with painless, slow-growing swellings is crucial

The connectedness between Twitter uncertainty index and stock return volatility in the G7 countries

Although a plethora of studies exists on economic uncertainty and stock market returns, our study contributes to the literature by examining the interconnectedness between Twitter uncertainty index and stock return volatility in the G7 countries. Using the dynamic connectedness approach, our results indicate volatility spillover among indices, where on average, 39.71% of a shock that occurs on one index spills over to all other indices. Further, we find the DAX index (Germany) to be a major transmitter of shocks, whereas the S&P 500 index (United States), Twitter market uncertainty, and G7 average returns are net receivers of shocks. Our findings will help investors select optimal portfolios, and policymakers frame stabilizing policy. Our findings are also robust in case of the alternate model. © 2021 Informa UK Limited, trading as Taylor & Francis Group

The Interconnectedness between COVID-19 Uncertainty and Stock Market Returns in Selected ASEAN Countries

This paper examines the interconnectedness between the COVID-19 uncertainty index and stock returns in selected ASEAN countries. Results from the study, which uses the dynamic connectedness approach, show that on average, 47.06% of a shock on one index spills over to all other indices. This indicates that stock market returns are highly interconnected to the COVID-19 uncertainty index in ASEAN countries. However, the COVID-19 uncertainty index is not a predictor of stock returns in the ASEAN countries chosen for the study. © 2022 Taylor & Francis Group, LLC

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A Pragmatic Study of Management of Grade 3 and Grade 4 Haemorrhoids

Introduction: The word ‘Hemorrhoids’ is derived from Greek word Haima (bleed) + Rhoos (flowering), means bleeding. Hemorrhoids consist of vascular cushions that are intimately involved in the maintenance of continence and discrimination between flatus and faeces. Material and Methods: It is a hospital based prospective observational study conducted at Department of Surgery at a Tertiary care teaching hospital over a period of 2 years from September 2018 to August 2020. Minimum 100 consecutive cases of Grade 3 and Grade 4 hemmorhoids were considered. A detailed history taking and a thorough clinical examination, which included digital rectal examination and proctoscopy was carried out after admission. Apart from routine preoperative investigations sigmoidoscopy or colonoscopy were carried out if it was indicated. Results: There was a significant difference between the 3 groups in terms of Duration of Surgery (Minutes) (χ2 = 80.776, p = <0.001), with the median Duration of 76 minutes being highest in the Stapler group, next being with harmonic scalpel and then conventional hemorrhoidectomy in our study. There was a significant difference between the various groups in terms of distribution of intra-operative bleeding (χ2 = 175.460, p = <0.001). Participants in the Stapler group had the largest proportion of mild intra-operative bleeding. Participants in the Harmonic group had the largest proportion of moderate intra-operative bleeding. Participants in the Conventional group had the largest proportion of severe intra-operative bleeding. Conclusion: Amongst the three procedures, Stapled hemorrhoidectomy was superior to others as it has shown lower postoperative pain severity, less secondary bleeding, less urinary retention and led to earlier return to work in patients with hemorrhoids, based on telephone interviews over follow-up period

Role of USG for evaluation of axillary lymph node status in carcinoma breast

Introduction: Breast cancer is the most frequent cancer detected globally and leading cause of cancer related death in women. One of the other methods which can assess the status of the axillary lymph node is USG. Methods and Materials: This is a Hospital based Observational Study, Patients who are admitted in the Department of General surgery, PBMH, Kalinga Institute of Medical Sciences, Bhubaneswar for Breast carcinoma during the period September 2018 to August 2020. A total of 70 patients will be selected after applying the following inclusion and exclusion criteria. Results It was observed that, the clinical presentation of patients with carcinoma breast in this series were breast lump, nipple discharge and nipple retraction. Most common presentation was breast lump. All cases presented with lump in the breast, 5(7.14%) cases presented with lump with nipple discharge and 6(8.57%) cases presented with lump with nipple retraction. Tumor size was less than or equal to 2 cm (T1) in 24 (34.29%) cases, tumor size greater than 2 cm but less than or equal to 5 cm were in 46 (65.71%) cases and tumor size more than 5cm were 0 (100%) cases.&nbsp