• The Journal of Asian Finance, Economics and Business
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• 제7권9호
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• pp.31-37
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• 2020

The purpose of this research study is to examine the stock market's response to terrorist attacks. The study uses data of terrorist attacks in different parts of the country (Pakistan) from June 1, 2014 to May 31, 2017. The event window procedure applies to a 16-day window in which 5 days before and 10 days after the attack. In addition, several event windows have been built to test the response of the Pakistan Stock Exchange. KSE-100 index is taken as proxy of response. The total terrorist attacks are classified into four categories: attacks on law enforcement agencies, attacks on civilians, attacks on special places and attacks on politicians, government employees and bureaucrats. The standard market model is used to estimate the abnormal return of the Pakistan Stock Exchange, which takes 252 business days each year. Furthermore, BMP test is used to check statistical significance of cumulative abnormal rate of return (CAAR). The results of this study reveal that total number of terrorist attacks and attacks on law enforcement agencies show long-term effects on Pakistan stock exchange. However, attacks on civilians, attacks on special places and attacks on politicians, government employees and bureaucrats have little effect on the Pakistan Stock Exchange.

• The Journal of Asian Finance, Economics and Business
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• 제3권2호
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• pp.13-20
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• 2016

Firms can use working capital management which is one of the essential determinants to influence their profitability. The main theme of present study is to investigate the relationship between working capital management and profitability of Tobacco Industry of Pakistan. This study is based on secondary data collected from financial statements of selected companies of Tobacco Industry of Pakistan for the period of 2005-2014. For data analysis, both descriptive and inferential statistics were used. Correlation analysis is used to check the relationship between the variables, while multiple regression analysis is used to examine the effects of working capital management on profitability of firms. The result reveals that there is a strong negative relationship between variables of working capital management and profitability of Tobacco Industry of Pakistan. This means that as the cash conversion cycle increases, it will lead to declining of firm profitability and managers can create a positive value for shareholders by reducing the cash conversion cycle at optimal level. The study concludes that managers can create value for shareholders by managing the working capital well designed and implemented, and by keeping each components of it at optimal level.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.21-32
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• 2021

This paper aims to investigate the relationship between country-level institutional quality and public debt in the context of Pakistan. The hypotheses of this study were assessed by using the country-level institutional quality data for Pakistan throughout the years from 1996 to 2018. Data came from the World Databank, IMF and Worldwide Governance Indicators databases. For the analysis, ordinary least square, quantile regression and robust regression were employed to assess the factors influencing the public debt. The results of this study indicate that the factors of voice and accountability, regulatory quality, and control of corruption have a positive and significant relationship with public debt, while political stability, government effectiveness, and the rule of law have a negative and significant effect on public debt. Based on the findings, a weak country-level institutional quality poses a substantial market risk as it signals the existence of an unfavorable economic condition that raises public debt. It was also revealed that an improved performance of country-level institutional quality can lead to the improvement of financial market transparency, hence reduce public debt. In contrast to previous studies, the present study will be breaking ground in enhancing public insight regarding the impact of country-level institutional quality on Pakistan's public debt.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.25-39
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• 2021

This purpose of this study is to investigate the association among mutual funds (MFs) risk measures and return parameters, evaluate mutual fund performance and also explore the best appropriate mutual fund performance measure for investment in Pakistan. Therefore, thirty-five mutual funds have been selected for the period 2007-2015. The Sharpe, Treynor, Jensen Alpha, Information ratio and Fama's Net Selectivity measures has been used to analyze MF performance. Our study findings show significant positive relation exist between Sharpe and Jenson alpha & information ratio (IR); Treynor ratio is negatively correlated to Jenson alpha and Jenson alpha is positively allied with IR. Moreover, association among performance measures, Fama's net selectivity is a major driver in leading to other measures but Sharpe and IR lead to Treynor ratio as well. Furthermore, performance measures are ranked in accordance standard deviation with the arrangement of Fama's net selectivity at top, Jenson Alpha at second, Sharpe ratio at third, IR at fourth and Treynor ratio at fifth position according to risk parameters in Pakistan. Overall, Jensen Alpha measure appears to be the best suitable mutual fund performance measure in Pakistan due to its practical nature. Finally, the Pakistani stock market index KSE100 (as benchmark) performs better than MF industry of Pakistan.

• The Journal of Asian Finance, Economics and Business
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• 제1권1호
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• pp.15-21
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• 2014

This study investigates extensively the integration of various segments of financial markets (i.e. money market, lending and deposit market, exchange rate market, and capital market) both domestically and internationally. Cointegration approach is employed in the study to find out long term relationship among the variables. Data are on a monthly interval for the period spreads over 2001 to 2010. The results show no evidence of cointegration between money market and exchange rate market and between capital market and exchange rate market of Pakistan. On the other hand, international financial markets integration is also investigated and the findings revealed that domestic money market rates of Pakistan and USA are not cointegrated. Whereas, an evidence of cointegration between capital markets of Pakistan and USA is found in this study.

• KSII Transactions on Internet and Information Systems (TIIS)
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• 제7권12호
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• pp.3149-3165
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• 2013

Content based image retrieval is increasingly gaining popularity among image repository systems as images are a big source of digital communication and information sharing. Identification of image content is done through feature extraction which is the key operation for a successful content based image retrieval system. In this paper content based image retrieval system has been developed by adopting a strategy of combining multiple features of shape, color and relevance feedback. Shape is served as a primary operation to identify images whereas color and relevance feedback have been used as supporting features to make the system more efficient and accurate. Shape features are estimated through second derivative, least square polynomial and shapes coding methods. Color is estimated through max-min mean of neighborhood intensities. A new technique has been introduced for relevance feedback without bothering the user.

• 한국과 국제사회
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• 제2권2호
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• pp.157-184
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• 2018

이 연구는 파키스탄에서 9/11 테러 이후 외교정책 결정 과정을 추적하기 위해 4단계 "위기에서의 국가 행동 모델"을 적용했다. 그것은 알카에다의 미국에 대한 불길한 공격과 테러에 맞서 싸우기 위한 부시 대통령의 후속 선언이 t1 단계의 세계와 지역의 정치 안보 차원을 변화시켰다고 주장한다. 이웃 국가인 파키스탄의 지원은 테러와의 전쟁에서 불가피했고, 미국은 이슬람 바드의 협력을 얻기 위해 강압적인 외교를 취했다. 결과적으로, 미국의 요구를 수용하지 않을 경우 파키스탄은 국가의 기본 가치/목표에 대한 위협을 인식하고 동시에 시간 압박은 t2 단계에서 의사결정자들의 심리적 스트레스를 증폭시켰다. 따라서 의사결정 포럼은 t3 단계에서 시작되었고 파키스탄은 외교 정책 위기를 완화시킨 t4 단계로 미국에 합류하기로 결정했다.

• Asian Pacific Journal of Cancer Prevention
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• 제16권3호
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• pp.979-984
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• 2015

Breast cancer is the leading cause of morbidity and mortality globally but has an even more significant impact in developing countries. Pakistan has the highest prevalence among Asian countries. A general lack of public awareness regarding the disease often results in late diagnosis and poor treatment outcomes. The literacy rate of the Southern Punjab (Pakistan) is low compared to its Northern part. It is therefore vital that university students and especially medical students develop a sound knowledge about the disease so that they can spread awareness to others who may be less educated. This study therefore considers current knowledge and understanding about the early signs of breast cancer amongst a study group of medical and non-medical university students of the Southern Punjab, Pakistan. A cross-sectional descriptive analysis of the university students was carried out using a self-administered questionnaire to assess their awareness of breast cancer from March to May 2014. A total of 566 students participated in this study, out of which 326 were non-medical and 240 were from a medical discipline. Statistical analysis was carried out using Graph Pad Prism Version 5 with a significance level set at p<0.05. The mean age of the non medical and medical participants was 23 (SD 2.1) and 22 (SD 1.3) years, respectively. Less than 35% students were aware of the early warning signs of the breast cancer development. Knowledge of medical students about risk factors was significantly better than the non medical ones, but on the whole was insufficient. Our study indicated that knowledge regarding breast cancer was generally insufficient amongst the majority of the university students (75% non-medical and 55% medical) of Southern Punjab, Pakistan. This study highlights the need to formulate an awareness campaign and to organize conferences to promote breast cancer awareness among students in this region.

• 한국수자원학회:학술대회논문집
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• 한국수자원학회 2018년도 학술발표회
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• pp.486-486
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• 2018

During the post green revolution era, wheat and rice were the main crops of concern to cater the food security issues of Pakistan. The use of semi dwarf high yielding varieties along with extensive use of fertilizers and surface and ground water lead to substantial increase in crop production. However, the higher crop productivity came at the cost of over exploitation of the precious land and water resources, which ultimately has resulted in the dwindling production rates, loss of soil fertility, and qualitative and quantitative deterioration of both surface and ground water bodies. Recently, during the past two decades, severe climate changes are further pushing the Pakistan's wheat-rice system towards its limits. This necessitates a careful analysis of the current crop water requirements and water footprints (both green and blue) to project the future trends under the most likely climate change phenomenon. This was done by using the FAO developed CROPWAT model v 8.0, coupled with the statistically-downscaled climate projections from the 8 Global Circulation Models (GCMs), for the two future time slices, 2030s (2021-2050) and 2060s (2051-2080), under the two Representative Concentration Pathways (RCPs): 4.5 and 8.5. The wheat-rice production system of Punjab, Pakistan was considered as a case study in exploration of how the changing climate might influence the crop water requirements and water footprints of the two major crops. Under the worst, most likely future scenario of temperature rise and rainfall reduction, the crop water requirements and water footprints, especially blue, increased, owing to the elevated irrigation demands originating from the accelerated evapotranspiration rates. A probable increase in rainfall as envisaged by some GCMs may partly alleviate the adverse impacts of the temperature rise but the higher uncertainties associated with the predicated rainfall patterns is worth considering before reaching a final conclusion. The total water footprints were continuously increasing implying that future climate would profoundly influence the crop evapotranspiration demands. The results highlighted the significance of the irrigation water availability in order to sustain and improve the wheat-rice production system of Punjab, Pakistan.

• 한국수자원학회:학술대회논문집
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• 한국수자원학회 2019년도 학술발표회
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• pp.407-407
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• 2019

According to Asian Development Bank report Pakistan is among water scarce countries. Climate scenario on the basis IPCC fifth assessment report (AR5) revealed that annual mean temperature of Pakistan from year 2010-2019 was $17C^o$ which will rise up to $21C^o$ at the end of this century, similarly almost 10% decrease of annual rainfall is expected at the end of the century. It is a changing task in underdeveloped countries like Pakistan to meet the water demands of rapidly increasing population in a changing climate. While many studies have tackled scarcity and stream flow forecasting of the Upper Indus Basin (UIB) Pakistan, very few of them are related to socio-economic and climate change impact on sustainable water management of UIB. This study investigates the pattern of current and future surface water availability for various demand sites (e.g. domestic, agriculture and industrial) under different socio-economic and climate change scenarios in Upper Indus Basin (UIB) Pakistan for a period of 2010 to 2050. A state-of-the-art planning tool Water Evaluation and Planning (WEAP) is used to analyze the dynamics of current and future water demand. The stream flow data of five sub catchment (Astore, Gilgit, Hunza, Shigar and Shoyke) and entire UIB were calibrated and validated for the year of 2006 to 2011 using WEAP. The Nash Sutcliffe coefficient and coefficient of determination is achieved ranging from 0.63 to 0.92. The results indicate that unmet water demand is likely to increase severe threshold and the external driving forces e.g. socio-economic and climate change will create a gap between supply and demand of water.