The Effect of Corporate Governance Practices on Firm Performance: Evidence from Pakistan

Hussain Muhammad,Ashfaq U. Rehman,Muhammad Waqas 한국유통과학회 2016 Asian Journal of Business Environment (AJBE) Vol.6 No.1

Purpose – The purpose of this study is to investigate the effect of corporate governance practices such as (board size, board composition, CEO duality and audit committee) on the performance of selected Pakistani firms. Research design, data, and methodology – This study examines corporate governance structure by using the data of 80 non-financial firms listed on Karachi Stock Exchange Pakistan during 2010-2014. Hypotheses of the study were tested by using both descriptive and inferential statistics. Result – The findings indicate that board size and audit committee is positively related to the firm performance (ROA & ROE). In contrast, board composition and CEO duality are negatively related to the firm performance (ROA & ROE). As far as controlling variables is concerned, leverage is negative, whereas firm size is positively related to all measures of performance. Conclusions – Empirical findings concluded that corporate governance practices affect the firm performance. Therefore, it is suggested that managers should understand the governance mechanisms to work more efficiently in the firm

Adiponectin homolog novel osmotin protects obesity/diabetes-induced NAFLD by upregulating AdipoRs/PPARα signaling in <i>ob/ob</i> and <i>db/db</i> transgenic mouse models

Ahmad, Ashfaq,Ali, Tahir,Kim, Min Woo,Khan, Amjad,Jo, Myeung Hoon,Rehman, Shafiq Ur,Khan, Muhammad Sohail,Abid, Noman Bin,Khan, Mehtab,Ullah, Rahat,Jo, Min Gi,Kim, Myeong Ok Elsevier 2019 clinical and experimental Vol.90 No.-

<P><B>Abstract</B></P> <P><B>Background</B></P> <P>In metabolic disorders, adiponectin and adiponectin receptors (AdipoR1/R2) signaling has a key role in improving nonalcoholic fatty liver disease (NAFLD) in obesity-associated diabetes.</P> <P><B>Objective</B></P> <P>To the best of our knowledge, here, we reported for the first time the underlying mechanistic therapeutic efficacy of the novel osmotin, a homolog of mammalian adiponectin, against NAFLD in leptin-deficient <I>ob/ob</I> and <I>db/db</I> mice.</P> <P><B>Methods</B></P> <P>The <I>ob/ob</I> and <I>db/db</I> mice were treated with osmotin at a dose of 5 μg/g three times a week for two weeks. To co-relate the <I>in vivo</I> results we used the human liver carcinoma HepG2 cells, subjected to knockdown with small siRNAs of AdipoR1/R2 and PPARα genes and treated with osmotin and palmitic acid (P.A.). MTT assay, Western blotting, immunohistofluorescence assays, and plasma biochemical analyses were applied.</P> <P><B>Results</B></P> <P>Osmotin stimulated AdipoR1/R2 and its downstream APPL1/PPAR-α/AMPK/SIRT1 pathways in <I>ob/ob</I> and <I>db/db</I> mice, and HepG2 cells exposed to P.A. Mechanistically, we confirmed that knockdown of AdipoR1/R2 and PPARα by their respective siRNAs abolished the osmotin activity in HepG2 cells exposed to P.A. Overall, the <I>in vivo</I> and <I>in vitro</I> results suggested that osmotin protected against NAFLD through activation of AdipoR1/R2 and its downstream APPL1/PPAR-α/AMPK/SIRT1 pathways as shown by the reduced body weight, blood glucose level and glycated hemoglobin, improved glucose tolerance, attenuated insulin resistance and hepatic glucogenesis, regulated serum lipid parameters, and increased fatty acid oxidation and mitochondrial functions.</P> <P><B>Conclusion</B></P> <P>Our findings strongly suggest that novel osmotin might be a potential novel therapeutic tool against obesity/diabetes-induced NAFLD and other metabolic disorders.</P> <P><B>Highlights</B></P> <P> <UL> <LI> Osmotin <I>via</I> AdipoRs dependently reduced palmitic acid-induced toxicity <I>in vitro</I>. </LI> <LI> Osmotin regulated AdipoRs/APPL1/PPAR-α/AMPK/SIRT1 pathways in <I>ob/ob</I> and <I>db/db</I> mice. </LI> <LI> Osmotin regulated AdipoRs/APPL1/PPAR-α/AMPK/SIRT1 pathways in HepG2 cells. </LI> <LI> Osmotin regulated the impaired insulin signaling both <I>in vivo</I> and <I>in vitro</I> studies. </LI> <LI> Osmotin treatment regulated plasma chemistry associated with metabolic disorders. </LI> </UL> </P>

Neuroprotection by vitamin C against ethanol -induced neuroinflammation associated neurodegeneration in developing rat brain

Ahmad, Ashfaq,A. Shah, Shahid,Badshah, Haroon,J. Kim, Min,Ali, Tahir,H. Yoon, Gwang,H. Kim, Tae,B. Abid, Nouman,Ur Rehman, Shafiq,Khan, Sohail,O. Kim, Myeong Bentham Science 2016 CNS & Neurological Disorders Vol.15 No.3

The Relationship between Working Capital Management and Profitability: A Case Study of Tobacco Industry of Pakistan

Hussain Muhammad,Ashfaq U Rehman,Muhammad Waqas 한국유통과학회 2016 KODISA ICBE (International Conference on Business Vol.2016 No.-

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 Relationship between Working Capital Management and Profitability: A Case Study of Tobacco Industry of Pakistan

Hussain Muhammad,Ashfaq U. Rehman,Muhammad Waqas 한국유통과학회 2016 The Journal of Asian Finance, Economics and Busine Vol.3 No.2

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.

Anthocyanin-Loaded PEG-Gold Nanoparticles Enhanced the Neuroprotection of Anthocyanins in an Aβ1–42 Mouse Model of Alzheimer’s Disease

Ali, Tahir,Kim, Min Ju,Rehman, Shafiq Ur,Ahmad, Ashfaq,Kim, Myeong Ok Springer-Verlag 2017 Molecular Neurobiology Vol.54 No.8

<P>Nanomedicine is an emerging research area. In this study, we investigated the neuroprotective efficacy of anthocyanin-loaded polyethylene glycol-gold nanoparticles (PEG-AuNPs) for enhancing the neuroprotective efficacy of anthocyanins in an amyloid beta (A beta)(1-42) mouse model of Alzheimer's disease. We observed that both anthocyaninloaded PEG-AuNPs and anthocyanins treatment (12 mu g/g/day for 14 days) ameliorated memory impairments in the A beta(1-42)-injected mice. However, the anthocyanin-loaded PEG-AuNPs were more effective than free anthocyanins. Anthocyanin-loaded PEG-AuNPs protected pre-and post-synaptic proteins from A beta(1-42)-induced synaptic dysfunction. Interestingly, the anthocyanin-loaded PEG-AuNPs also regulated the p-PI3K/p-Akt/p-GSK3 beta pathway and, as a result, prevented the hyperphosphorylation of tau protein at serines 413 and 404 in the A beta(1-42)-injected mice. Western blot results of cytochrome c, Bax/Bcl2, caspases and poly (ADP-ribose) polymerase-1 expression levels, and immunohistochemical Nissl and Fluoro-Jade B staining also indicated that the anthocyanin-loaded PEG-AuNPs inhibited apoptosis and neurodegeneration in the A beta(1-42)-injected mice. Our results suggest that the conjugation of dietary polyphenolic compounds with gold nanoparticles, such as anthocyanin-loaded PEG-AuNPs, is a novel approach that may represent an important and promising nanomedicine strategy to prevent age-associated neurodegenerative diseases.</P>

Integrated adsorptive and photocatalytic degradation of pharmaceutical micropollutant, ciprofloxacin employing biochar-ZnO composite photocatalysts

Muhammad Amir,Tahir Fazal,Javed Iqbal,Aamir Alaud Din,Ashfaq Ahmed,Asim Ali,Abdul Razzaq,Zulfiqar Ali,Muhammad Saif Ur Rehman,박영권 한국공업화학회 2022 Journal of Industrial and Engineering Chemistry Vol.115 No.-

The expensive carbonaceous substrates including graphene, reduced graphene oxide, carbon nanotubeshave been coupled with ZnO to improve the properties and photocatalytic performance of carbon basedZnO photocatalysts. To replace these expensive materials, biochar offers as a low-cost alternative to preparebiochar-based photocatalysts. In this study, Calotropis gigantea leaves derived biochar-ZnO (BC-ZnO)composites were synthesized to overcome the ZnO related problems (charge recombination, wider bandgap, and poor visible light absorption). Different BC-ZnO (BCZ-1–3) composites were characterized toevaluate their intrinsic properties and composites were employed to degrade ciprofloxacin (CIP). BCZ-3composite exhibited slower recombination of electron-hole pairs, lower band gap (2.97 eV), and betterlight absorption in visible region than ZnO. The enhanced adsorptive-photocatalytic degradation efficiencywas attained up to 98.5% using BCZ-3 than BC (46.2%) and ZnO (41.4%). The O2 and OH radicalswithin BCZ-3 are dominant reactive species indulged in CIP photocatalytic degradation. BCZ-3 photocatalystexhibits 80% degradation of CIP after four regeneration cycles. The maximum adsorption capacitywas achieved 54.18 mg g1 for BCZ-3 than BC (46.20 mg g1) and ZnO (15.55 mg g1). The results showthat BCZ-X composites can be used as stable, efficient, economical, and sustainable composite for therecovery of pharmaceutical wastewater.

Montmorillonite-Supported BiVO4 nanocomposite: Synthesis, interface characteristics and enhanced photocatalytic activity for Dye-contaminated wastewater

Parveen Akhter,Iqrash Shafiq,Faisal Ali,Faiza Hassan,Roeya Rehman,Nasir Shezad,Ashfaq Ahmed,Farrukh Jamil,Murid Hussain,Young-Kwon Park 한국공업화학회 2023 Journal of Industrial and Engineering Chemistry Vol.123 No.-

Textile effluents may harm the human body as well as cause environmental pollution. For several decadesresearchers have been attempting to overcome this issue by introducing environmentally friendly technologiesthat degrade bulk dyes to mitigate hazards. Synthetic dyes are carcinogenic for humans as wellas for other living organisms. Various techniques have been developed for the removal of these toxiccompounds, advanced oxidation processes (AOPs) being the most used processes. In this study,Montmorillonite (MMT) supported BiVO4 nanocomposite was prepared by the sol–gel method to degradeBrilliant Red 80 dye using photocatalysis. The BiVO4/MMT composite was comprehensively characterizedby several characterization techniques including X-ray diffraction (XRD), Fourier-transform infraredspectroscopy (FTIR), Scanning electron microscopy (SEM), Raman, Photoluminescence spectroscopy(PL), and UV–Vis diffuse reflectance spectroscopy (UV–Vis-DRS). Interestingly, the composite materialshowed a narrow bandgap of 2.26 eV with strong light absorption in the visible range. A 1000-wattXenon Lamp was used for activity performance measurement. The photocatalytic Brilliant Red 80 degradationactivity was observed to be 99% degraded within 120 min of illumination compared to conventionalBiVO4 which showed around 80% degradation. Moreover, in this work, an acidic media wasfound to favor the degradation of Brilliant Red 80 dye.