Simultaneous Equation Estimation in Finance and Corporate Financial Decision: Empirical Evidence from Pakistan Stock Exchange

AHMED, Wahab,KHAN, Hadi Hassan,RAUF, Abdul,ULHAQ, SM Nabeel,BANO, Safia,SARWAR, Bilal,HUDA, Shams ul,KHAN, Mirwaise,WALI, Ahmed,DURRANI, Maryam Najeeb Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.3

In the last few years, there is growing interest in the field of simultaneous equation estimation in finance due to the endogeneity problem caused by measurement errors, simultaneity, or omitted variables. This study aims to discuss the endogeneity problem in corporate financing decisions and investigate the interrelationship of financial decision-making such as investment decision, dividend decision, and external financing decision in Pakistan Stock Exchange (PSX) using two-stage least squares (2SLS) and generalized method of moment (GMM) estimation. The Bruech-Pagan test shows that the data has no heteroskedasticity issue and 2SLS is a better approach in the context of this study as compared to the GMM approach, and internal instruments are also sufficiently strong and valid. The three financial decision-making attributes are not jointly determined, and the dividend is influenced by one-sided investment. In the emerging stock market context, external financing and investment are not inter-related and did not affect each other. The question of whether the simultaneous equation estimation can be useful in the context of the emerging stock markets and newly-growing firms remains unanswered. The inclusive evidence shows that the theoretical link in the emerging stock market is difficult to prove like in developed stock markets.

Influence of Financial Literacy and Educational Skills on Entrepreneurial Intent: Empirical Evidence from Young Entrepreneurs of Pakistan

Muhammad Ahmed BILAL,Hadi Hassan KHAN,Muhammad IRFAN,S.M. Nabeel Ul HAQ,Manzoor ALI,Ali KAKAR,Wahab AHMED,Abdul RAUF 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.1

This paper attempts to study the impact of Financial Literacy on Youth Entrepreneurial Intent in Pakistan. A closed-ended self-administered structured questionnaire covering financial literacy, computer knowledge, financial attitude, and financial knowledge with Entrepreneurial Intent was collected from young entrepreneurs. The research tried to investigate the education level with computer skill to inspect the effect of financial literateness on young generation Entrepreneurial Intent in the context of Pakistan. The research model was tested using PLS-SEM and authenticating a measurement model through the advanced methodology and their association with Entrepreneurial Intent. Results revealed that financial literacy and its two parts (financial attitude and financial knowledge) have a positive impact on Entrepreneurial Intent. The size of the joint impact of financial literacy and its components on Entrepreneurial Intent was assessed to be adequate. Entrepreneurial Intent is essential for creating new firms to maintain economic development. Furthermore, it is determined in this research that if youth has better financial knowledge and financial attitude, the probability of Entrepreneurial Intent increases. This suggests that if the youth in Pakistan desire to attain a higher limit of Entrepreneurial Intent, they must implement financial literacy models for enhancing and promoting their current Entrepreneurial Intent.

Fibrin Sealant and Lipoabdominoplasty in Obese Grade 1 and 2 Patients

Amr Abdel Wahab Mabrouk,Hesham Aly Helal,Soha Fathy Al Mekkawy,Nada Abdel Sattar Mahmoud,Ahmed Mohamed Abdel-Salam 대한성형외과학회 2013 Archives of Plastic Surgery Vol.40 No.5

Background Ever since lipoabdominoplasty was first developed to achieve better aesthetic outcomes and less morbidity, the rate of seroma formation, especially in obese patients, has disturbed plastic surgeons. The aim of this study was to evaluate the effect of fibrin sealant in the prevention of seroma formation after lipoabdominoplasty in obese patients. Methods Sixty patients with a body mass index (BMI) between 30 and 39.9 were assigned randomly to 1 of 2 groups (30 patients each). Group A underwent lipoabdominoplasty with fibrin glue, while group B underwent traditional lipoabdominoplasty; both had closed suction drainage applied to the abdomen. The patients’ demographics and postoperative complications were recorded. Seroma was detected using abdominal ultrasound examinations at two postoperative periods: between postoperative days 10 and 12 and, between postoperative days 18and 21. Results The age range was 31 to 55 years (38.5±9.5 years) in group A and 25 to 58 years (37.8±9.1 years) in group B, while the mean BMI was 31.4 to 39.9 kg/m2 (32.6 kg/m2) in group A and 32.7 to 37.4 kg/m2 (31.5 kg/m2) in group B. In group A, the patients had a complication rate of 10% in group A versus 43% in group B (P<0.05). The incidence of seroma formation was 3% in the fibrin glue group but 37% in the lipoabdominoplasty-alone group (P<0.05). Conclusions Lipoabdominoplasty with the use of autologous fibrin sealant is a very effective method that significantly reduces the rate of postoperative seroma.

Chemical profile and beneficial effect of standardized extract of Stevia rebaudiana Bertoni leaves on metabolic syndrome in high fat diet streptozotocin‑induced diabetic rats

Kamal Nagham H.,Essmat Ahmed,El Askary Hesham I.,El Hefnawy Hala M.,Wahab Samia M. Abdel,Meselhy Meselhy R. 한국응용생명화학회 2022 Applied Biological Chemistry (Appl Biol Chem) Vol.65 No.4

Stevia (Stevia rebaudiana Bertoni) is a natural zero calorie sweetener with significant economic and medicinal values due to its high contents of steviosides (SVGs) in the leaves. The aqueous extract of Stevia leaves (TAqE) was standardized to contain 8.5% w/w of SVGs (HPLC), total phenolics (164.63 ± 1.39 μg Gallic acid/mg extract) and total flavonoids of 100.5 ± 0.79 μg QE/mg extract. Twenty-one compounds were tentatively identified in the leaves via UPLC-Orbitrap HRMS and stevioside, rebaudioside A, and quercetrin were isolated from TAqE by repeated column chromatography. Stevioside showed significant inhibition of pancreatic lipase, α-amylase, and α-glucosidase enzymes. The effect of a standardized TAqE on high fat diet (HFD)-streptozotocin (STZ)-induced diabetic rats was investigated. Thirty-six animals were divided into 6 groups (each of 6). Rats in group I (control) and group II (control/HFD-STZ) received distilled water, and rats in groups III and IV received TAqE for 4 weeks in two doses; 300 mg/kg b.wt., and 500 mg/kg b.wt., respectively. Rats in group V received metformin (200 mg/kg), while those in group VI received statin (1 mg/kg). Body weight, fasting blood glucose, lipid profile (total cholesterol and triglycerides), liver enzymes (alanine transaminase and aspartic transaminase), and serum kidney parameters (urea and creatinine) were decreased in rats treated with TAqE (300 mg/kg b.wt.), while insulin sensitivity was enhanced, when compared to that in group II. These findings could justify the use of Stevia as a complementary medicine for the prevention and treatment of metabolic changes associated with diabetes mellitus type 2.

Theoretical and experimental investigations of Co-Cu bimetallic alloys-incorporated carbon nanowires as an efficient bi-functional electrocatalyst for water splitting

Zafar Khan Ghouria,Ahmed Badreldin,Khaled Elsaid,Dharmesh Kumar,Karim Youssef,Ahmed Abdel-Wahab 한국공업화학회 2021 Journal of Industrial and Engineering Chemistry Vol.96 No.-

Application of noble metal-free electrocatalysts for oxygen evolution reaction (OER) and hydrogenevolution reaction (HER) during electrocatalytic water splitting is crucial for clean energy conversion andhas drawn extensive attention. However, the development of highly active and low cost electrocatalysts isa considerable challenge. Herein, Co-Cu alloy nanoparticles-incorporated carbon nanowires electrocatalystwas synthesized and evaluated for both OER and HER. The nanomaterials were fabricated byfacile electrospinning of sol-gel composed of cobalt acetate, copper acetate, and poly(vinyl alcohol)followed by calcination in an inert environment. Adjusting the composition of the metallic counterpartwas found to significantly enhance electrochemical properties of the catalyst. Furthermore, the uniquenanowire morphology and structural properties of incorporated Co-Cu alloy, the (Co0.95Cu0.05@CNWs)composition exhibits good electrocatalytic performance for both OER and HER in the alkaline medium. Physicochemical characterizations using X-ray diffraction, X-ray photoelectron spectroscope, scanningelectron microscopy, and transmission electron microscopy have confirmed the formation of alloystructure and nanowire morphology. The optimum composition (Co0.95Cu0.05@CNWs) requires smalloverpotential, ɳ10 of285 mV for oxygen evolution reaction (OER) and160 mV for hydrogen evolutionreaction (HER) with the corresponding Tafel slope of 92 mV dec 1 and 172 mV dec 1 versus the reversiblehydrogen electrode, respectively. In addition, only negligible loss in activity was observed after 1000cycles and prodeces cell voltage of 1.58 V at current of 10 mA/cm2 and 1.72 V at current density of 50 mA/cm2 in two electrode system. Density Functional Theory (DFT) calculations were employed to verifyexperimental results. Electronic density of states (DOS) results reveal an increase in electronic states nearthe Fermi level upon Co-Cu heterojunctioning with CNWs. This is indicative of improved catalytic activityand more favorable binding energies of HER and OER intermediates. Reaction coordinate diagrams forHER and OER were developed, which aided in identifying thermodynamically limiting steps. This workmay provide a feasible approach for incorporating other transition metals to design low-cost and highperformancebifunctional electrocatalysts for overall water splitting.

Fibrin Sealant and Lipoabdominoplasty in Obese Grade 1 and 2 Patients

Mabrouk, Amr Abdel Wahab,Helal, Hesham Aly,Al Mekkawy, Soha Fathy,Mahmoud, Nada Abdel Sattar,Abdel-Salam, Ahmed Mohamed Korean Society of Plastic and Reconstructive Surge 2013 Archives of Plastic Surgery Vol.40 No.5

Background Ever since lipoabdominoplasty was first developed to achieve better aesthetic outcomes and less morbidity, the rate of seroma formation, especially in obese patients, has disturbed plastic surgeons. The aim of this study was to evaluate the effect of fibrin sealant in the prevention of seroma formation after lipoabdominoplasty in obese patients. Methods Sixty patients with a body mass index (BMI) between 30 and 39.9 were assigned randomly to 1 of 2 groups (30 patients each). Group A underwent lipoabdominoplasty with fibrin glue, while group B underwent traditional lipoabdominoplasty; both had closed suction drainage applied to the abdomen. The patients' demographics and postoperative complications were recorded. Seroma was detected using abdominal ultrasound examinations at two postoperative periods: between postoperative days 10 and 12 and, between postoperative days 18 and 21. Results The age range was 31 to 55 years ($38.5{\pm}9.5$ years) in group A and 25 to 58 years ($37.8{\pm}9.1$ years) in group B, while the mean BMI was 31.4 to 39.9 $kg/m^2$ (32.6 $kg/m^2$) in group A and 32.7 to 37.4 $kg/m^2$ (31.5 $kg/m^2$) in group B. In group A, the patients had a complication rate of 10% in group A versus 43% in group B (P<0.05). The incidence of seroma formation was 3% in the fibrin glue group but 37% in the lipoabdominoplasty-alone group (P<0.05). Conclusions Lipoabdominoplasty with the use of autologous fibrin sealant is a very effective method that significantly reduces the rate of postoperative seroma.

Cone-beam computed tomography–based radiographic considerations in impacted lower third molars: Think outside the box

Fahd Ali,Temerek Ahmed Talaat,Ellabban Mohamed T,Adam Samar Ahmed Nouby,Shaheen Sarah Diaa Abd El-wahab,Refai Mervat S,Shatat Zein Abdou 대한영상치의학회 2023 Imaging Science in Dentistry Vol.53 No.2

Purpose: This study aimed to evaluate the anatomic circle around the impacted lower third molar to show, document, and correlate essential findings that should be included in the routine radiographic assessment protocol as clinically meaningful factors in overall case evaluation and treatment planning. Materials and Methods: Cone-beam computed tomographic images of impacted lower third molars were selected according to specific inclusion criteria. Impacted teeth were classified according to their position before assessment. The adjacent second molars were assessed for distal caries, distal bone loss, and root resorption. The fourth finding was the presence of a retromolar canal distal to the impaction. Communication with the dentist responsible for each case was done to determine whether these findings were detected or undetected by them before communication. Results: Statistically significant correlations were found between impaction position, distal bone loss, and detected distal caries associated with the adjacent second molar. The greatest percentage of undetected findings was found in the evaluation of distal bone status, followed by missed detection of the retromolar canal. Conclusion: The radiographic assessment protocol for impacted third molars should consider a step-by-step evaluation for second molars, and clinicians should be aware of the high prevalence of second molar affection in horizontal and mesioangular impactions. They also should search for the retromolar canal due to its associated clinical considerations.

Evaluating the Catalytic Effects of Carbon Materials on the Photocatalytic Reduction and Oxidation Reactions of TiO2

Gulzar Khan,Young Kwang Kim,최성규,한동석,Ahmed Abdel-Wahab,박현웅 대한화학회 2013 Bulletin of the Korean Chemical Society Vol.34 No.4

TiO2 composites with seven different carbon materials (activated carbons, graphite, carbon fibers, singlewalled carbon nanotubes, multi-walled carbon nanotubes, graphene oxides, and reduced graphene oxides) that are virgin or treated with nitric acid are prepared through an evaporation method. The photocatalytic activities of the as-prepared samples are evaluated in terms of H2 production from aqueous methanol solution (photocatalytic reduction: PCR) and degradation of aqueous pollutants (phenol, methylene blue, and rhodamine B) (photocatalytic oxidation: PCO) under AM 1.5-light irradiation. Despite varying effects depending on the kinds of carbon materials and their surface treatment, composites typically show enhanced PCR activity with maximum 50 times higher H2 production as compared to bare TiO2. Conversely, the carbon-induced synergy effects on PCO activities are insignificant for all three substrates. Colorimetric quantification of hydroxyl radicals supports the absence of carbon effects. However, platinum deposition on the binary composites displays the enhanced effect on both PCR and PCO reactions. These differing effects of carbon materials on PCR and PCO reactions of TiO2 are discussed in terms of physicochemical properties of carbon materials, coupling states of TiO2/carbon composites, interfacial charge transfers. Various surface characterizations of composites (UV-Vis diffuse reflectance, SEM, FTIR, surface area, electrical conductivity, and photoluminescence) are performed to gain insight on their photocatalytic redox behaviors.

Characterization and UV Protection of Cotton and Cotton/Polyester Blend Fabrics Coated With PVA/PLST/ZnO NPs Nanocomposites Under the Effect of Gamma Irradiation

Nisreen M. Ali,Saleh N. Saleh,Magdy Ahmed,Mahmoud S. Hassan,Abdel Wahab M. El‑Naggar 한국섬유공학회 2023 Fibers and polymers Vol.24 No.11

The main objective of this work is to impart UV protection properties to cotton and cotton/polyester fabrics and enhance the original chemical and physical properties. In this procedure, the fabrics were coated with nanocomposites based on poly(vinyl alcohol)/plasticized starch (PVA/PLST (80/20%)/Zn NPs. The coated fabrics were then exposed to gamma radiation to induce cross-linked layer structure covering the fibers of the fabrics. The formation of Zn NPs was confirmed by UV/Vis and XRD analysis. In addition, the coated fabrics were characterized by the measurements of water absorption, crease recovery, thermal stability, surface morphology and tensile mechanical measurements. The UV protection of the coated fabrics was determined. The results indicated that the coated fabrics showed highly reducing UV-A, UV-B and ultraviolet protection factor (UPF), particularly with increasing irradiation dose, regardless of fabric kind. It was found that cotton and cotton/PET fabrics treated with PVA/PLST/Zn NPs nanocomposites irradiated to a dose of 30 kGy displayed UPF excellent rating values of 44.31 and 58.23, respectively.

A Multi-Group Analysis of Risk Management Practices of Public and Private Commercial Banks

Khurram REHMAN,Hadi Hassan KHAN,Bilal SARWAR,Noor MUHAMMAD,Wahab AHMED,Zia Ur REHMAN 한국유통과학회 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.11

The study examines the relationship between credit risk and operational risk (understanding of risk management, risk identification, risk assessment and control, and risk monitoring) on risk management practices followed by private and public sector commercial banks. The cross-sectional data method was used to check the impact of risk management practices. Data was collected from the bank employees and a total of 284 respondents were finally selected for further analysis. Measurement Invariance of Composite Models analysis is used to test the quality of the measurement model for sub-samples, and multi-group analysis is used for path analysis in sub-sample through PLS-SEM. The findings of the study as the total sample show that both types of banks are managing adequate and significant risk management practices. On the other hand, sub-groups’ results show private sector banks are more momentous than public sector banks. Risk identification is significantly different at the sub-group level, which shows public sector banks are more concentrating on this type of risk. Understanding of risk management has no significant effect on both types of banks and risk assessment & control for public sector banks, and there is a difference in the risk management practices among private and public sector commercial banks.