The Spillover Effect of Global Uncertainty on BRICS Stock Markets

Using monthly data spanning from 1993 to 2021 and employingthe DCC-GARCH model, this study examines the role ofEconomic Policy Uncertainty (EPU) as a potential exogenousfactor impacting the correlation of Brazil, Russia, India, andChina (BRIC) economies’ stock markets, which is new to theliterature. Further, this dynamic correlation series is used as adependent variable while EPU of BRIC and USA is used as anindependent variable by utilizing the autoregressive distributedlag (ARDL) model. The study finds a positive and significantshort-run as well as the long-run impact of Russia’s and theUS’s EPU on their stock markets. In other words, as the EPUof the USA increases, the correlation of BRIC with the USAStock Market and the World Stock Market increases, suggestingminimum diversification opportunities for the investors. Thestudy also recommends that investors diversify their portfoliosby considering cross borders assets avenues to gain maximumreturns and reduce portfolio risk.JEL Classification: E44, C32, E52, E60, E62, C58How to Cite:Nawaz, A. D., Bhutto, N. A., & Khan, S. (2023). The Spillover Effect of Global Uncertainty on BRICS Stock Markets. Etikonomi, 22(1), 45–64. https://doi.org/10.15408/etk.v22i1.24617

Role of diversion ileostomy in low rectal cancer: A randomized controlled trial

AbstractIntroduction: Rectal cancer continues to be devastating malignancy worldwide. Sphincter preservation is the need of the hour. Distal anastomosis is more prone to leaks. Proximal diversion in form of ileostomy may be used to protect distal anastomosis. Aim: To compare two groups of low anterior resection with and without diversion ileostomy in rectal cancer patients. Material and methods: A prospective, hospital based study of 78 rectal carcinoma patients were taken for the study. Inclusion criteria was operable rectal cancer 4–12 cm from anal verge. Patients were randomized into two groups. Group – A (34 patient) patients with low anterior resection with ileostomy (LAR with ileostomy); Group – B (44 patients) patients with low anterior resection without ileostomy (LAR without ileostomy). Quality of life was assessed by scoring done by self designed method. A total score of 0–20 given for various parameters. Results: Skin excoriation was the commonest complication. Stomal retraction and stomal obstruction was seen in 1 patient each (3%). Hypokalemia was the commonest electrolyte imbalance present in ileostomy group. Anastomotic leak was present in 6% of Group A and 11% of Group B patients. Mean time of closure of ileostomy was 16 ± 4.3 weeks. Conclusion: LAR with ileostomy has certain advantages over LAR without ileostomy in terms of anastomotic leak, postoperative ileus, resumption of diet, wound infection, small bowel obstruction and in terms mortality and recurrence. However stoma related complications were main disadvantage in LAR with ileostomy

Impact of Russia–Ukraine conflict on Russian financial market: Evidence from TVP-VAR and quantile-VAR analysis

This study aims to analyze the repercussions of the Russia–Ukraine conflict on the Russian financial market, focusing on the main stock market and sectorial stock indices. High-frequency hourly data from September 12, 2021, to April 29, 2022, covering the period before and after the outbreak of conflict, is utilized for analysis. The empirical investigation employs the TVP-VAR and Quantile-VAR connectedness approaches. Our findings indicate a significant impact of the conflict on the Russian stock market, leading to increased market risk during the event period. Notably, certain sectors, including oil and gas, utilities, metals & mining, financials, consumer goods, and services exerted more influence on other sectors, while chemicals, transport, and telecoms were influenced by other sectors. These insights are crucial for comprehending the financial implications of the ongoing conflict on the local economy, providing valuable guidance to portfolio managers, investors, and policymakers in devising effective financial strategies

Evaluation of Gas Potential in Early Cretaceous Shale Lower Indus Basin, Pakistan

The shale gas potential of the early Cretaceous Talhar shale member of the lower Goru Formation in lower Indus basin of Sanghar district, Sindh province, has been evaluated using 2D seismic and well logs data. Graphical and empirical techniques were applied to calculate various geochemical parameters for the evaluation of shale plays. Total Organic Carbon (TOC) is calculated by Passey's (∆LogR) Overlay technique and its values are about 2.44 wt.%. Vitrinite Reflectance (Ro) is estimated by graphical and empirical relation and the value lies between 0.95-1.0 which implies that the Talhar shale member is in peak oil and initial gas generation phase. Log-derived Maturity Index (LMI) is calculated by NPHI, RHOB or density log and uranium logs. The average value is about 0.55 which reflects that the formation is probably in the initial maturation phase. Kerogen Volume (Vk) is estimated by empirical relation using RHOB log as input and it is about 13 wt. % which reflects that the formation has enough potential of oil/gas expulsion. The results are compared and validated with a study of the adjacent field of the same basin. This study reveals that Talhar member of lower Goru Formation could be the future probable potential unconventional reservoir for exploration in lower Indus basin of Pakistan

Comparative Efficiency of Soil and Foliar Applied Zinc in Improving Yield and Yield Components of Wheat (Triticum aestivum L.) Variety Kiran-95

A field study was undertaken to evaluate the comparative efficacy of zinc application through soil and foliar spray on growth and yield of wheat variety Kiran-95 at Soil Chemistry Section, Agriculture Research Institute, Tandojam during Rabi 2013-14. The experiment was laid out in three replicated randomized complete block design. The treatments comprised Control (No Zinc), Soil applied Zinc 5.0 kg ha-1 at tillering stage, Soil applied Zinc 10.0 kg ha-1 at tillering stage, Soil applied Zinc 5.0 kg ha-1 at tillering + 5.0 kg ha-1 at booting stage, Foliar applied Zinc 0.2% at tillering stage, Foliar applied Zinc 0.4% at tillering and Foliar applied Zinc 0.2% at tillering stage + 0.2% at booting stage. The statistical analysis of data suggested that soil and foliar applied zinc affected significantly (P<0.05) growth and yield traits of wheat variety Kiran-95. The results illustrated that Soil applied Zinc 5.0 kg ha-1 at tillering + 5.0 kg ha-1 at booting stage produced maximum plant height (99.0 cm), tillers (410.7 m-2), spike length (13.1 cm), spikelets per spike (23.0), grains per  spike (45.1), seed index (43.4 g), biological yield (9354.4 kg ha-1) and grain yield (5123.4 kg ha-1), closely followed by Foliar applied Zinc 0.2% at tillering stage + 0.2% at booting stage with 97.6 cm plant height, 408.8 tillers m-2, 13.0 cm spike length, 22.8 spikelets per spike, 45.0 grains per spike, 43.2 g seed index, 9273.4 kg ha-1 biological yield and 5080.7 kg ha-1 grain yield. The performance of wheat variety Kiran-95 ranked 3rd, 4th, 5th and 6th almost in all the growth and yield parameters particularly grain yield (kg ha-1) when fertilized with Soil applied Zinc 10.0 kg ha-1 at tillering stage, Foliar applied Zinc 0.4% at tillering, Soil applied Zinc 5.0 kg ha-1 at tillering stage and Foliar applied Zinc 0.2% at tillering stage.  However, minimum growth and yield traits were registered in Control (No Zinc). Furthermore, the results concluded that although numerically maximum growth and yield values were recorded in Soil applied Zinc 5.0 kg ha-1 at tillering + 5.0 kg ha-1 at booting stage but statistically the differences between Soil applied Zinc 5.0 kg ha-1 at tillering + 5.0 kg ha-1 at booting stage and Foliar applied Zinc 0.2% at tillering stage + 0.2% at booting stage were non-significant. Hence, Foliar applied Zinc 0.2% at tillering stage + 0.2% at booting stage were found the most economical treatment for obtaining optimum yield of wheat variety Kiran-95. Keywords: Wheat, Comparative Efficiency, Soil, Foliar, Zinc, Improving Yield and Yield Component

Burnout among surgeons before and during the SARS-CoV-2 pandemic: an international survey

Background: SARS-CoV-2 pandemic has had many significant impacts within the surgical realm, and surgeons have been obligated to reconsider almost every aspect of daily clinical practice. Methods: This is a cross-sectional study reported in compliance with the CHERRIES guidelines and conducted through an online platform from June 14th to July 15th, 2020. The primary outcome was the burden of burnout during the pandemic indicated by the validated Shirom-Melamed Burnout Measure. Results: Nine hundred fifty-four surgeons completed the survey. The median length of practice was 10 years; 78.2% included were male with a median age of 37 years old, 39.5% were consultants, 68.9% were general surgeons, and 55.7% were affiliated with an academic institution. Overall, there was a significant increase in the mean burnout score during the pandemic; longer years of practice and older age were significantly associated with less burnout. There were significant reductions in the median number of outpatient visits, operated cases, on-call hours, emergency visits, and research work, so, 48.2% of respondents felt that the training resources were insufficient. The majority (81.3%) of respondents reported that their hospitals were included in the management of COVID-19, 66.5% felt their roles had been minimized; 41% were asked to assist in non-surgical medical practices, and 37.6% of respondents were included in COVID-19 management. Conclusions: There was a significant burnout among trainees. Almost all aspects of clinical and research activities were affected with a significant reduction in the volume of research, outpatient clinic visits, surgical procedures, on-call hours, and emergency cases hindering the training. Trial registration: The study was registered on clicaltrials.gov "NCT04433286" on 16/06/2020

Islamic and Conventional Banks Stability in Indonesia

Research Originality: The stability of banking institutions is crucial for the overall financial health of a country. The originality of this paper lies in its innovative use of quantile regression analysis to provide a nuanced understanding of the factors influencing bank stability, particularly in the Indonesian context.Research Objectives: This research identifies factors influencing bank stability in Islamic and conventional banks in Indonesia.Research Methods: Utilizing quantile regression analysis to measure the impact of various factors at different quantiles, addressing the existing mixed findings in the literature. This study utilizes 15 years of data, encompassing 61 observations for Islamic banks and 779 observations for conventional banks in Indonesia.Empirical Results: The study identifies impaired loans as the primary determinant of bank stability in Indonesia, with a notably greater impact on conventional banks compared to Islamic banks. Notably, the upper quantile of Islamic banks indicates a decline or a lesser impact on bank stability.  The paper additionally concludes that the stability of Islamic banks in Indonesia is comparatively lower than conventional banks.Implications: By offering insights into the different levels of factors affecting bank stability, the study contributes to the existing literature, sheds light on unique dynamics, and highlights potential recommendations for enhancing bank stability, especially in the context of non-performing loans.JEL Classification: C21, C23, G21How to Cite:Khan, S., Aziza, N. A., & Nawaz, A. D. (2024). Islamic and Conventional Banks Stability in Indonesia. Etikonomi, 23(1), 167 – 182. https://doi.org/10.15408/etk.v23i1.33879

The Adhesion Mechanism of Marine Mussel Foot Protein: Adsorption of L-Dopa on α- and β-Cristobalite Silica Using Density Functional Theory

Marine mussels strongly adhere to various surfaces and endure their attachment under a variety of conditions. In order to understand the basic mechanism involved, we study the adsorption of L-dopa molecule on hydrophilic geminal and terminal isolated silanols of silica (001) surface. High content of modified amino acid L-dopa is found in the glue-like material secreted by the mussels through which it sticks to various surfaces under water. To understand the adsorption behavior, we have made use of periodic Density Functional Theory (DFT) study. The L-dopa molecule adheres to silica surfaces terminated with geminal and terminal silanols via its catechol part. In both cases, the adhesion is achieved through the formation of 4 H-bonds. A binding energy of 29.48 and 31.67 kcal/mol has been estimated, after the inclusion of dispersion energy, for geminal and terminal silanols of silica, respectively. These results suggest a relatively stronger adhesion of dopa molecule for surface with terminal isolated silanols

Waste Bank-Socio-Economic Empowerment Nexus in Indonesia: The Stance of Maqasid al-Shariʻah

With the rapid increase of waste throughout the country, the government of Indonesia has enacted regulations targeting waste reduction using religious sentiment. This is employed in Malang City’s “Waste Bank of Malang” (WBM). This study aims to analyze the impact of waste banks on socio-economic progress, and to assess their efficacy in accomplishing this objective from the Maqasid al-Shariʻah perspective. The research employs a descriptive qualitative approach and uses both primary and secondary data sources. This study found that the operation of WBM contributes considerably to the community’s economic and social well-being. Likewise, the WBM has successfully managed waste by reducing, reusing, and recycling it as it is collected from customers. The customers receive financial incentives from the waste bank in return for providing recycled waste to a specialized firm under a profit-sharing (PLS) contract. As per the findings of the study, the rationale of the waste bank aligns with the Maqasid al-Shariʻah and the Islamic finance contract of PLS arrangements

Does the tax undermine the effect of remittances on shadow economy?

There are considerable studies regarding the contribution of international migrants’ remittances to economic growth while there is a lack of studies which investigate the effect of remittances on shadow economy. The authors explore empirically the effect of remittances and its interaction effect with tax on shadow economy by using panel data covering the period 2004–2015 and applying the GMM method for 141 countries. Their empirical model, in which a remittance-recipient government, operating in tax environment of some regimes (imposition of different levels and kinds of taxes), predicts a negative effect of remittances on shadow economy, is mitigated by a higher tax regime. In other words, the paper argues that a well-established negative correlation between remittances and shadow economy has been weakened by tax rule. The study contributes to the current literature on public policy that gives importance to know the causes of shadow economy and boost remittances effect. The authors´ baseline results are robust to various computations of macroeconomics variables, institutions variables and freedom variables