• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.237-246
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• 2021

This paper explores the relationship between price mechanism and flipping activity of initial public offerings (IPOs) in Pakistan's emerging economy. This study uses a cross-sectional data set of 95 firms listed on Pakistan Stock Exchange from 2000 to 2019. This study employs the ordinary least square and quantile regression techniques to capture the relationship between price mechanism and flipping activity. The results show that book-built IPOs flip substantially less than fixed-price IPOs. This is consistent with the signaling theory assertion that roadshows are arranged by underwriters to capture investors' demand and set the offer prices of IPOs. If investors learn the fair values of quality IPOs, then the offer prices will be close to the intrinsic values, thus reducing flipping. The findings also provide conclusive evidence for understanding the usefulness of and the more relevant information regarding the pricing mechanism. In particular, it provides a better understanding of how companies actually use the pricing mechanism information in the flipping of IPO shares. The results of this study are also valuable to underwriters, and regulators, for instance, provides underwriters with the discretion to allocate the IPO shares and the SECP, in revising regulation on the disclosure of IPO pricing methods.

• Advances in environmental research
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• 제10권1호
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• pp.43-57
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• 2021

Evaluation of groundwater quality is vital due to its diverse use for several purposes. In the present study, groundwater quality and suitability from the Peshawar basin, Pakistan, were evaluated for drinking and irrigation purposes. The water samples were analysed for major cations (Ca, Mg, Na and K) and anions (chloride, bicarbonate and sulphate) along with other physicochemical parameters (pH, electrical conductivity, total dissolved solids, and total hardness). About 95% of the water samples were found to be within the WHO, US-EPA and Pak-EPA permissible levels for drinking purposes. Seventy percent (70%) of the water samples belonged to the hard water category. Irrigation water quality parameters, such as, chloride, residual sodium bicarbonate, sodium adsorption ratio, percent sodium, magnesium adsorption ratio, Kelly's ration and permeability index were evaluated which demonstrated that the groundwater was highly to moderately suitable for irrigation. A correlation study was conducted to find out the mutual associations among the variables. Piper diagram indicated the overall chemical nature of the study area was calcium-magnesium bicarbonate type. Cluster analysis revealed mutual apportionment of various parameters in the groundwater of the Peshawar basin, Pakistan.

• The Journal of Asian Finance, Economics and Business
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• 제9권4호
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• pp.39-52
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• 2022

This study examines whether accounting conservatism can support real earnings management by reducing accrual earnings management techniques. The net impact of conservative reporting on earnings management is also analyzed. It is assumed that moderating the role of conservative financial reporting during uncertainty can mitigate earnings management practices. For our analysis, 5354 firm-year observations for the period 2007-2020 of nonfinancial companies listed on the Pakistan Stock Exchange are applied. To measure conservatism in the non-financial sector of Pakistan, Khan and Watts' (2009) model is used to provide evidence that conservatism is a way to restrict earnings management during uncertainty. "Prospector" and "Defender" Business strategy is applied for measuring firm-level uncertainty. To measure accrual earnings management Modified Jones (1995) model and Dechow and Dichev (2002) approach and Kasznik (1999) model are applied, and for real earnings management Roychowdhury model is applied which follows three approaches to measure real earnings management i.e. cash flow manipulation, Overproduction, and discretionary expenses. The estimations support our hypothesis by providing statistically significant proof that conservative financial reporting in a developing economy like Pakistan may be used to overcome the net impact of earnings management during uncertainty. Our results provide critical and practical implications for investors, researchers, and standard setters.

• International Journal of Computer Science & Network Security
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• 제22권3호
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• pp.344-354
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• 2022

Ombudsmanship is the framework to provide the speedy administrative justice to poor man which is originated in Sweden in the 19^th Century and the modus operandi with modernized arrangement of public grievance redressal. Pakistan has thirteen different Ombudsman Institutions at both Federal and Provincial level with limited public accessibility. This paper presents a collaboration framework for extending the outreach of Ombudsmanship at proverbial doorstep of complainants. This framework has three main components as collaborative arrangements, Proceedings and Resolution of the complaints that increased the public trust. A pilot project titles Swift Complaint Resolution (SCR) was constructed and executed by Federal Ombudsman Secretariat to materialize the concept of speedy redressal of complaints. The SCR project first affirmed the strength of the components of the framework. The concept of SCR was first presented in the Federal Advisory committee for Administrative Justice, which comprised of highest level of the Parliamentarians, Public Officials, NGOs and Civil Society where presented guidelines to be adopted for the free and speedy redressal of grievances at proverbial doorsteps in tehsils and district headquarters ultimately to the extended to the union councils. In SCR, the complaints were decided within 25 days even though the Law permitted 60 days that is itself a record in any judicial /quasi-judicial forum.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.11-18
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• 2022

Current research intended to measure the spillovers of education and on-the-job training to enhance sustainable economic development. Consideration of research and development expenditures for on-the-job training expands the impact of education and, thus, may provide spillovers for Pakistan's economic growth. The primary focus of this research is to look at the combined impact of education and research and development spending as value-added variables for sustainable growth. The econometric study uses data from a variety of sources, including the Pakistan Bureau of Statistics, the Pakistan Economic Survey, and world development indices. The secondary annual time series data from 1976 to 2019 are analyzed. To adequately estimate the empirical model, ARDL has been used while the presence of the unit root has been tested using the ADF test. The findings show that education, research, and development all contribute to all-inclusive, sustainable economic growth. Labor and capital, among other traditional components, continue to be the backbone of the development process. Still, the spillover effect is much enhanced with the expansion in education and the on-job training in the form of research and development expenditures. Consequently, the introduction of research and development in education will lead to a sustainable and inclusive economy.

• The Journal of Asian Finance, Economics and Business
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• 제9권1호
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• pp.167-176
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• 2022

By analyzing the impact of oil prices on economic growth, this study has shown a new insight into the link between oil price inflation and economic growth. The primary goal of this study is to determine if oil prices are pro-growth or anti-growth. To provide empirical proof, the series data for both the core and control variables from 1972 to 2020 was used to justify the association on empirical grounds. To account for the presence of a unit root, the Augmented Dickey-Fuller Test was used, and after making the series compatible for co-integration, the Autoregressive distributed lag model was used to determine the empirical estimate. Additionally, the empirical models were used to diagnose heteroscedasticity and autocorrelation. The reference point model reveals that in developing nations like Pakistan, economic growth is anti-growth with an increase in prices, and it responds negatively to economic growth in the long and short run. As a result, oil price inflation in Pakistan fails to have a significant beneficial impact on economic growth in both the long and short run, but it does raise the general price level in the economy.

• 한국축산식품학회지
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• 제37권3호
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• pp.329-341
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• 2017

Livestock is considered central component in agricultural sector of Pakistan, provides employment to more than 8 million families. Meat and meat products holds pivotal significance in meeting dietary requirements serving as major protein source and provide essential vitamins and minerals. Globally, consumer demand is increasing for healthy, hygienic and safe meat and meat products due to growing population, income level and food choices. As, food choices are mainly influenced by region, religion and economic level. However, religion is one of the major factor to influence the food choices. In this context, halal foods a growing trend, trade estimated to cross USD $ 3 trillion and among this, meat sector contribute about US$ 600 billion. Halal meat and allied products is requirement from Muslims but it is also accepted by non-Muslims due to safe and hygienic nature, nutritious value and superior quality. Pakistan meat industry is vibrant and has seen rigorous developments during last decade as government also showed interest to boost livestock production and processing facilities to meet increasing local and global demand. The industry has potential to grow owing to its natural animal rearing capability, muslim majority country (96% of total population), improvisation of market and consumer preference towards halal meat. Current review debates Pakistan meat industry scenario, production trend, global trade as well as future potential with respect to modernization, processing, distribution and trade. The data presented here is useful for meat producers, processors and people involved in export of Pakistani meat and meat based products.

• Asian Pacific Journal of Cancer Prevention
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• 제16권15호
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• pp.6347-6352
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• 2015

Background: Breast malignancies are one of the leading causes of deaths in females worldwide. There are a number of risk factors associated with breast cancer but in Karachi Pakistan there are insufficient data available. Materials and Methods: A case control study was conducted on females in age group between 30-80 years. This study was accomplished by retrospective data collection in Aga Khan University Hospital Karachi, Pakistan. A total of 108 females with primary malignancy of breast were included along with 108 matched controls. Relationship of various factors with disease was studied using logistic regression to calculate odds ratios with 95 % confidence intervals. Results: A total of 14 variables were analyzed and based on and 7 were found to be risk factors: old age, family history of breast cancer, family history of other carcinomas, personal history of breast carcinoma, early age of menarche, older age of mother at first delivery and lower number of children. Five factors, parity, breast feeding, history of oral contraceptive pills intake, past history of oophorectomy and hysterectomy showed protective associations. One variable, use of hormonal replacement therapy, showed a controversial link and one other, marital status, was not significant in this study. Conclusions: It is concluded that most of the well-known risk factors for breast cancer are also associated with the disease in the female population of Karachi, Pakistan. High risk patients should be the focus with the help of this study so that screening can be more effective for early diagnosis before clinically evident breast malignancy.

• Parasites, Hosts and Diseases
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• 제58권2호
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• pp.121-127
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• 2020

Pakistan is at intersection of hyperendemic regions for hydatidosis. Current study aimed to determine the prevalence of hydatid cysts and cyst characteristics in different intermediate hosts (sheep, goats, cattle and buffaloes) across the 4 provinces of Pakistan. A total of 991 sheep, 1,478 goats, 1,602 cattle and 1,343 buffaloes were examined for presence of hydatid cysts during 2 years (January 2016-December 2018). Differences in frequency of hydatidosis were observed with highest overall prevalence in buffaloes (11.9%) and sheep (11.5%). Highest prevalence and burden of infection were observed in older age animals (23.8%, 9.78±0.49) and females (26.5%, 12.53±0.67). Data for seasonal prevalence alluded to year-round presence of disease with non-significant statistical difference. Organ predilection indicated liver as the most preferred site of cyst localization followed mainly by lungs. An over-dispersion pattern was observed in all infected animals as majority of cysts belonged <10 cysts per infected host category. Highest percentage of fertile cysts was observed in liver of sheep. Interestingly, solitary form of cysts had higher fertility rate than multiple form. Amid lack of data and wide gap of knowledge, this study would try to fill up the lacunae regarding this neglected tropical disease. Extensive rearing of livestock, unregulated official slaughter and home slaughtering have played role in adaptability of E. granulosus in Pakistan.

• Clinical and Experimental Vaccine Research
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• 제12권3호
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• pp.209-215
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• 2023

Purpose: The delay in acceptance or refusal to get vaccinated despite the availability of services is called vaccine hesitancy. The Global Polio Eradication Initiative in Pakistan faced consistent barriers preventing the eradication of the disease in the country. Similarly with the advent of the coronavirus disease 2019 (COVID-19) pandemic mass vaccination drives were initiated to a vaccine hesitant population. The aim of this study is to explore the prevalence and reasons for COVID-19 vaccine hesitancy in the Pakistani population. Materials and Methods: Cross-sectional study conducted during July to September 2021 using a snowball sampling technique targeting the adult population of Pakistan. The modified version of the vaccine hesitancy questionnaire related to the Strategic Advisory Group of Experts on Immunization Vaccine Hesitancy matrix was distributed online. Results: Out of 973 participants, 52.4% were immediately willing to take the vaccine and constituted the acceptance group whereas the remaining 47.6% who were still not sure formed the hesitant group. Support from leaders was found to be statistically significant for the difference between the hesitant and acceptance groups (p-value=0.027). Hesitant people were concerned about the effectiveness of the vaccine (60.9%) and potential side effects (57.9%) as it was not sufficiently tested prior to launch (44.7%). Age and education were significant factors affecting the acceptance of vaccination. The most trusted source of information regarding vaccination was health care workers (43.8%). Conclusion: A moderately high prevalence of vaccine hesitancy was reported in Pakistan. To overcome it, policymakers need to address the reasons for it. Leaders, celebrities, and healthcare workers can play an instrumental role in dispelling conspiracy theories regarding vaccines and making the vaccination drive a success.