Mergers and Acquisitions as Vital Instruments of Corporate Strategy: Current and Historical Perspective

M. Jibran Sheikh,Mah-a-Mobeen Ahmed,Qudsia Arshad,Wajid Shakeel 한국유통과학회 2015 The Journal of Asian Finance, Economics and Busine Vol.2 No.1

In this paper our main focus is to provide insight into the history of M&A’s for this purpose we have analysed the different waves of M&A. We have analysed these waves in context of available literature and fact and figures. During the study we realised that almost all of the waves of M&A’s ended because of financial crises, although impact and severity of that crises may differ. We analysed the impact of current crises on M&A in global context and in order to establish how companies have and in post crises era i.e. after crises of 2007 onwards how the companies have changed their corporate strategies to accommodate M&A’s. We have also analysed which factors fuelled M&A’s in past and were these factors present in post crises era M&A activities. By first quarter of 2011 the many firms saw new growth opportunities in M&A activities seemed to rebound as large companies used M&A’s as part of their corporate strategy but this was cut short by events like US debt ceiling, down grade of USA’s credit ratings along with fears about Eurozone’s financial health and their impact on future prospects of M&A’s would they continue to prosper or would they be weighed down by these events.

Effect of body weight at photostimulation on productive performance and welfare aspects of commercial layers

Raziq Fazal,Hussain Jibran,Ahmad Sohail,Asif Hussain Muhammad,Khan Muhammad Tahir,Ullah Assad,Qumar Muhammad,Wadood Fazal,Gull-e-Faran 아세아·태평양축산학회 2024 Animal Bioscience Vol.37 No.3

Objective: Due to current selection practices for increased egg production and peak persistency, the production profile, age at maturity, and body weight criteria for commercial layers are constantly changing. Body weight and age at the time of photostimulation will thus always be the factors that need to be adequately addressed among various production systems. The current study was carried out to determine the effects of pullets' body weight (low, medium, and heavy) on their performance, welfare, physiological response, and hormonal profile. Methods: With regard to live weight, 150 16-week-old pullets were divided into three groups using a completely randomized design (CRD) and held until the 50th week. One-way analysis of variance was used to evaluate the data under the CRD, and the least significant difference test was used to distinguish between treatment means. Results: In comparison to the medium and light birds, the heavy birds had higher body weight at maturity, an earlier age at maturity, and higher egg weight, eggshell weight, eggshell thickness, egg yolk index, breaking strength, egg surface area, egg shape index, egg volume, and hormonal profile except corticosterone. However, the medium and light birds had lower feed consumption rates per dozen eggs and per kilogram of egg mass than the heavy birds. Light birds showed greater body weight gain, egg production, and egg specific gravity than the other categories. At 20 weeks of age, physiological response, welfare aspects, and catalase were non-significant; however, at 50 weeks of age, all these factors—aside from catalase—were extremely significant. Conclusion: The findings of this study indicate that layers can function at lower body weights during photostimulation; hence, dietary regimens that result in lighter pullets may be preferable. Additionally, the welfare of the birds was not compromised by the lighter weight group.

Earnings Management, Uncertainty and the Role of Conservative Financial Reporting: Empirical Evidence from Pakistan

Huma FATIMA,Abdul HAQUE,Muhammad Ali Jibran QAMMAR 한국유통과학회 2022 The Journal of Asian Finance, Economics and Busine Vol.9 No.4

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.

Inter-Factor Determinants of Return Reversal Effect with Dynamic Bayesian Network Analysis: Empirical Evidence from Pakistan

Abdul HAQUE,Marriam RAO,Muhammad Ali Jibran QAMAR 한국유통과학회 2022 The Journal of Asian Finance, Economics and Busine Vol.9 No.3

Bayesian Networks are multivariate probabilistic factor graphs that are used to assess underlying factor relationships. From January 2005 to December 2018, the study examines how Dynamic Bayesian Networks can be utilized to estimate portfolio risk and return as well as determine inter-factor relationships among reversal profit-generating components in Pakistan’s emerging market (PSX). The goal of this article is to uncover the factors that cause reversal profits in the Pakistani stock market. In visual form, Bayesian networks can generate causal and inferential probabilistic relationships. Investors might update their stock return values in the network simultaneously with fresh market information, resulting in a dynamic shift in portfolio risk distribution across the networks. The findings show that investments in low net profit margin, low investment, and high volatility-based designed portfolios yield the biggest dynamical reversal profits. The main triggering aspects related to generation reversal profits in the Pakistan market, in the long run, are net profit margin, market risk premium, investment, size, and volatility factor. Investors should invest in and build portfolios with small companies that have a low price-to-earnings ratio, small earnings per share, and minimal volatility, according to the most likely explanation.

Hydrometallurgical recovery of critical metals from spent Li-ion batteries using simple leaching-precipitation techniques

Rajak Dilip Kumar,Guria Chandan,Gope Laldeep,Jibran Jahir Ahamad 한국자원공학회 2023 Geosystem engineering Vol.26 No.5

The rising demands for critical metals and the environmental impact of solid waste disposal have increased interest in recycling of spent lithium-ion batteries (LiBs). This study was focused on hydrometallurgical recycling of LCMO type cathode batteries for the recovery of critical metals (lithium, cobalt, and manganese). The process involves sulfuric acid leaching in the presence of a reducing agent (H2O2) followed by the precipitation recovery of critical metals. The influential parameters like pulp density, H2SO4 concentration, H2O2 addition, agitation time, and temperature were optimized, yielding >98% leaching in 2.0 M H2SO4 with 4 vol.% of H2O2 at a moderate temperature of 50°C. Reaction kinetics revealed that the leaching was governed by the mixedcontrol process. Furthermore, the separation and recovery of metals from leach liquor was conducted by simple precipitation techniques, where KMnO4, C2H2O4, and Na2CO3 were used as precipitating reagents to recover MnO2, CoC2O4, and Li2CO3, respectively.

An approach for vehicle position estimation in Soft-Defined Internet of Vehicles

Muhammad Tahir Abbas(아바스 무하마드 타히르),Muhammad Ali Jibran(무함드 알리 지브란),SONG Wang-Cheol(송왕철) 한국통신학회 2018 한국통신학회 학술대회논문집 Vol.2018 No.11