An Empirical Study of Illusion of Control and Self-Serving Attribution Bias, Impact on Investor’s Decision Making: Moderating Role of Financial Literacy

According to traditional financial theory investors are supposed to be rational and make decisions that reflect all available information but prospect theory explained a number of biases which affect the investor’s behavior and investors lead to irrational decision making. This study aims to investigate the influence of behavioral biases (self-attribution, illusion of control) on investment decisions with the moderating role of financial literacy in context of Pakistan. The relationship was examined by administering a questionnaire and by collecting empirical data from investors about their own perception of these biases. Questionnaire was distributed among the sample of 220 investors and two statistical tools correlation analysis and regression analysis were used to analyze the collected data. The study was found that the Illusion of control bias has significant positive impact on individual investor investment decision and no support were found for the positive impact of self-serving attribution bias on investment decision. It is also found that financial literacy moderates the relationship between illusion of control bias and investment decision so that it weaken the relationship. The findings of this study will helpful for investors to identify these biases which interrupted his decision making level and then formulate different strategies to overcome these biases and reduce irrational behavior. Other implications and limitations of the study are also discussed. Keywords: Illusion of Control Bias, Self-Serving Attribution Bias, Financial Literacy, Investment Decision, Pakistan

Inter-bank cooperation between Islamic and conventional banks in Pakistan

Thesis(Master) --KDI School:Master of Business Administration,2007Outstandingmasterpublishedby Shakir Ullah

Lifestyle Change of Female Farmers through CPEC’s Coal Power Plant Project Initiative

This paper focuses on the impact to women engaged in agriculture specific to the construction of Sahiwal Coal Power Plant project in Qadirabad, Punjab, Pakistan. The power plant was developed in relation to the China-Pakistan Economic Corridor (CPEC) initiative. This plant was built on private [agricultural] lands. This study, relies on data collected via a field survey, judgmental sampling, and case study methods. Observations and data collected surface the changing occupational roles of women, who prior to the development of the coal plant had been employed primarily as agricultural workers. A noted adjustment of female labor to domestic service and tailoring surface not only the occupational impact of the development of the coal powered plant, but also the relationship between the plant’s construction and occupational opportunity, life style, status, and social power dynamics as it relates to women

Analyzing Global and Local Media Representations of Malala Yousafzai

During the War on Terror, when high rates of violence were occurring and schools were being forcefully torn down in Swat Valley of Pakistan, Malala Yousafzai fought for girls’ education rights. At just 17 years old, Malala Yousafzai has inspired people around the world with her passion and determination to make sure girls everywhere can get an education. When the Taliban tried to silence her, Malala answered their brutality with strength and resolve. Soon in the international media, she was acclaimed as a brave hero and later honored with a Nobel Prize. She received a mixed response for her efforts in Pakistan. While some praised her, others thought her as an opportunist or believed that there was a Western conspiracy behind her promotion on an international level. This article explores the disparities in media representation of Malala Yousafzai on global and local levels. Employing ethnographic research methods, we bring to light the perceptions of people from her hometown and juxtapose it with those of international media outlets. The article will help understand the complex controversies surrounding Yousafzai’s struggle and legacy

Community-Oriented Policing: Political, Institutional and Technical Reforms in Khyber Pakhtunkhwa (KP) Police

Community-police relations in Pakistan are often intricate, as are their reforms. Mistrust, political intervention, meager financial resources, lack of educated/trained human resources, over-expectations and miscommunication are some of the factors contributing to weak policing and poor community-police relations. The police as a service-oriented public institution has been a demand of the public and the dream of consecutive governments. In this study, we explore the political, institutional and technical reforms taken by the government of Khyber Pakhtunkhwa (KP) and the police department to improve their police and policing. The Police Act 2017 and Community-Oriented Policing, Dispute Resolution Councils (DRCs), and Information and Communications Technology (ICT) initiatives are critically analyzed in terms of their intentions and contribution to improved police-community relations. Politicians, police, civil society organizations and community members from KP were interviewed for their perceptions of police reforms and community-police relations. The study finds strong political will to empower and depoliticize police, and to shift its focus from purely crime fighting into community service provision, including pro-active engagement of police with the community. The study also finds that most of the new initiatives of the government of KP are in the spirit of community--oriented policing, and community members see visible improvement in policing and community-police relations

Improvement in the Gain of UWB Antenna for GPR Applications by Using Frequency-Selective Surface

In this article, high-gain ultra-wideband (UWB) monopole antenna is presented. e UWB monopole antenna is a semicircular- shaped antenna with a semicircular slot at the top side. e bottom plane consists of partial ground with triangular and rectangular slotted structures to improve the impedance bandwidth of the proposed antenna. In order to enhance gain, a 6 × 6 metallic reector (FSS) is placed below the antenna. e performance of the oered design is validated experimentally. e simulated results show resemblance with the measured results. e antenna resonates for the UWB ranging from 3 to 11 GHz. Moreover, the integration of FSS improves the average gain by 4 dB, where peak gain obtained is 8.3 dB across the UWB. In addition, the reported unit cell having dimension of 0.11lambda × 0.11lambda gives wide bandwidth (7.2 GHz) from 3.3 GHz to 10.5 GHz. e performance of the proposed antenna determines its suitability for the modern day wireless UWB and GPR applications.Dr. Mohammad Alibakhshikenari acknowledges support from the CONEX-Plus programme funded by Universidad Carlos III de Madrid and the European Union's Horizon 2020 research and innovation programme under the Marie Sklodowska-Curie grant agreement No. 801538

The Epidemiological Characteristics of Epilepsy in the Province of Khyber Pakhtunkhwa, Pakistan

Previous studies have shown that Khyber Pakhtunkhwa, Pakistan has a high incidence of epilepsy and a high proportion of low socioeconomic background and high treatment gap. Considering the changes over the past 20 years little is known about the current epidemiological characteristics of epilepsy in Khyber Pakhtunkhwa, Pakistan. The current study was focused to find the impact of various contributing factors on the clinical response to anti-epileptic drugs in the KP population, Pakistan. A total of 315 participants aged 19.1 ± 8.6 years were examined. Mean age of the patients was 18 ± 8.1 year. Epilepsy was high in male patients (64.39%) and urban areas (60.1%). Mostly, 88.6% of patients were belonging to low socioeconomic status background. 42.4% patients have positive family history for epilepsy and 42.8% patients had consanguineous marriages. Middle SES class patients (OR, 2.22 [CI, 0.54–9.1]) were slightly associated with controlled response to CBZ and VPA therapy. Absence seizure (OR, 1.16 [CI, 0.59–2.3]), and Complex partial seizure (OR, 1.29 [CI, 0.58–6.3]) showed good response to CBZ therapy while, Myoclonic seizure (OR, 2.23 [CI, 0.05–8.8]) was responsive to VPA therapy. However, non-compliance (R2 0.82, P < 0.0001) and nature of seizures (R2 0.83, P < 0.0001) were associated with the high risk for poor response to both CBZ and VPA therapy. Epilepsy was high in male patients and in urban areas. Most patients were belonging to low socioeconomic status. Non-compliance, low socioeconomic and nature of seizures strongly predict poor clinical response of anti-epileptic drugs therapy

A compact flexible circularly polarized implantable antenna for biotelemetry applications

With the help of in-body antennas, the wireless communication among the implantable medical devices (IMDs) and exterior monitoring equipment, the telemetry system has brought us many benefits. Thus, a very thin-profile circularly polarized (CP) in-body antenna, functioning in ISM band at 2.45 GHz, is proposed. A tapered coplanar waveguide (CPW) method is used to excite the antenna. The radiator contains a pentagonal shape with five horizontal slits inside to obtain a circular polarization behavior. A bendable Roger Duroid RT5880 material (εr = 2.2, tanδ = 0.0009) with a typical 0.25 mm-thickness is used as a substrate. The proposed antenna has a total volume of 21 × 13 × 0.25 mm3. The antenna covers up a bandwidth of 2.38 to 2.53 GHz (150 MHz) in vacuum, while in skin tissue it covers 1.56 to 2.72 GHz (1.16 GHz) and in the muscle tissue covers 2.16 to 3.17 GHz (1.01 GHz). GHz). The flexion analysis in the x and y axes was also performed in simulation as the proposed antenna works with a wider bandwidth in the skin and muscle tissue. The simulation and the curved antenna measurements turned out to be in good agreement. The impedance bandwidth of −10 dB and the axis ratio bandwidth of 3 dB (AR) are measured on the skin and imitative gel of the pig at 27.78% and 35.5%, 13.5% and 4.9%, respectively, at a frequency of 2.45 GHz. The simulations revealed that the specific absorption rate (SAR) in the skin is 0.634 and 0.914 W/kg in muscle on 1g-tissue. The recommended SAR values are below the limits set by the federal communications commission (FCC). Finally, the proposed low-profile implantable antenna has achieved very compact size, flexibility, lower SAR values, high gain, higher impedance and axis ratio bandwidths in the skin and muscle tissues of the human body. This antenna is smaller in size and a good applicant for application in medical implants

Environmental-induced work extraction

A local measurement extracts work as a backaction, e.g., in a system of two entangled cavities: first cavity, $a$, comprises a piston and the measurement is carried out on the second cavity, $b$. When no one makes a measurement on the cavity $b$, i.e., it is simply placed in vacuum; environmental monitoring results in the coherent states as the einselected pointer states (the measurement basis) [PRL 70, 1187 (1993)]. This makes the measurement, that nature itself performs, a Gaussian one with a fixed strength $\lambda=1$. We show that this makes nature assign a \textit{fixed} amount of work to a particular entanglement degree $0\leq \xi(r) \leq 1$, i.e., $W=\xi(r)\times(\bar{n}\hbar\omega_a)$, nothing that the term in parenthesis is the entire thermal energy. Afterwards, we show that this phenomenon applies quite generally, i.e, not restricted to a two-cavities system. We also touch on the influence of inherited symmterization entanglement in this context. We can arrive an additional phenomenon by considering that work is simply the process of converting randomly moving microscopic ingredients~(vanishing mean-velocity) into a directional one, i.e, with a nonzero mean-velocity. We show that such a change in the character of the motion introduces curvature in spacetime according to general relativity. This phenomenon is the first demonstration of a quantitative relation between entanglement and curvature using solely the quantum optics arguments.Comment: 7 pages with 3 pages references, 2 figure