56 research outputs found
Do the FAMA and FRENCH Five-Factor model forecast well using ANN?
Get PDFForecasting the stock returns in the emerging markets is challenging due to their peculiar characteristics. These markets exhibit linear as well as nonlinear features and Conventional forecasting methods partially succeed in dealing with the nonlinear nature of stock returns. Contrarily, Artificial Neural Networks (ANN) is a flexible machine learning tool which caters both the linear and nonlinear markets. This paper investigates the forecasting ability of ANN by using Fama and French five-factor model. We construct ANN’s based on the composite factors of the FF5F model to predict portfolio returns in two stages; in stage one, the study identifies the best-fit combination of training, testing, and validation along with the number of neurons full sample period. In stage two, the study uses this best combination to forecast the model under 48-months rolling window analysis. In-sample and out-sample comparisons, regression, and goodness of fit test and actual and predicted values of the stock returns of our ANN model reveal that the proposed model accurately predicts the one-month ahead returns. Our findings reinforce the investment concept that the markets compensate the high-risk portfolios more than mid and low beta portfolios and the methodology will significantly improve the return on investment of the investors
Contested and Contextual Identities: Ethnicity, Religion and Identity among the Pakhtuns of Malakand, Pakistan.
Get PDFThis study reflects on Pakhtun sense of belonging and suggests a complex and dynamic process of identification that involves multiple aspects. The multilayered, contextual and contested identification process among Pakhtuns indicates segmentary ethnicity that has intra ethnic, inter ethnic and national aspects. It argues that the literature on Pakhtun identity highlights the internal stratification and ecological variation amongst Pakhtuns but stop short of establishing any relationship between this internal stratification and the process of identification. The literature also fails to see the significance of the continuous and progressive identification of Pakhtuns with Pakistan and Islam. Focusing on generative processes (internal and external identification) in time of flux this thesis remains contemporary in its approach to ethnicity and identity. It also contributes to the debate in Social Anthropology about the relative emphasis on ‘boundary’ or the ‘cultural stuff’. The research focuses on Malakand in Khyber Pakhtunkhwa (Pakistan), which in its changing administrative status has hybridity of the ‘autonomous’ Tribal Areas and ‘governed’ Settled Districts. Such transforming status has a greater significance to investigate identity processes in time of flux and in the context of Pakhtun ecological variation. I have argued in this study that Pakhtuns in Malakand categorize each other as Khanan and Ghariban in times of socio economic change. These categories in reciprocal opposition maintain categorical boundary through a meaning system that is informed by particular patterns of social conduct. The two categories are also involved in contextual contestation over the ethnic identity i.e who is Pakhtun? The contestation involves alternative emphasis on ascribed and performing aspects of Pakhtunness in local and non local contexts. Pakhtuns also reflect on their Pakistani and Muslim identities in a progressive way. Although Pakhtun identity remains primary in relation to Pakistani identity, they do perceive themselves as belonging to a multi ethnic Pakistani identity. The non ideological and non sectarian Muslim identity remains significant to Pakhtuns. However, the current religious unrest in the region has generated a discourse that reconsiders the relationship between Pakhtun cultural code and Islam. The thesis thus concludes that dynamic identification processes among Pakhtuns of Pakistan indicate multilayered, contested and contextual Pakhtunness. This also alludes to the segmentary nature of ethnicity and the complexity of relationship between ethnicity and Islam in Pakistan
The Emergence and Transformation of Batkhela Bazaar (Pakistan)
No full textThis article examines the emergence and transformation of a vibrant bazaar (marketplace) in an underdeveloped area of Pakistan. I first investigate the rise of the bazaar in Batkhela (Malakand) in the face of historical conditions characterized by social stratification and political exclusivity, and proceed to probe the bazaar’s transformation and consequent role in generating economic growth and political reforms. These inquiries are undertaken against the backdrop of the extraordinary efforts of bazaar entrepreneurs to keep the bazaar functioning. Using ethnographic methods, the study finds that entrepreneurs use social networks of family and friends at different stages of their business trajectories. Whereas family networks were particularly useful during the initial stages of business development, friendship networks become more important later on. Contrary to the literature on ethnic entrepreneurship, friendship networks in Batkhela are more diverse and include members from similar and dissimilar ethnic groups. Collectively, family networks and ever-diffusing friendship networks help consolidate successful businesses in Batkhela. The study concludes that Batkhela bazaar is a monumental regional marketplace that has engendered political reforms in areas of domicile, private property and political representation for different sections of society.</jats:p
The emergence and transformation of Batkhela (Malakand) Bazaar: Ethnic entrepreneurship, social networks, and change in disadvantageous societies
No full textThis study is an inquiry into the emergence and transformation of Batkhela bazaar in the North West of Pakistan. It investigates the emergence of the bazaar in the face of historical conditions that were characterized by social stratification and political exclusivity. It then probes the transformation of Batkhela bazaar and it’s functioning in the current socio-political conditions. We investigate the above processes with a focus on entrepreneurs of the bazaar. Particularly we examine their efforts in challenging historical conditions during the emergence of the Batkhela bazaar and their continuous endeavor to keep the bazaar functioning. The study also reflects on the social and political embeddedness of the entrepreneurial activities of the bazaar
The emergence and transformation of Batkhela (Malakand) Bazaar: Ethnic entrepreneurship, social networks, and change in disadvantageous societies
No full textThis study is an inquiry into the emergence and transformation of Batkhela bazaar in the North West of Pakistan. It investigates the emergence of the bazaar in the face of historical conditions that were characterized by social stratification and political exclusivity. It then probes the transformation of Batkhela bazaar and it’s functioning in the current socio-political conditions. We investigate the above processes with a focus on entrepreneurs of the bazaar. Particularly we examine their efforts in challenging historical conditions during the emergence of the Batkhela bazaar and their continuous endeavor to keep the bazaar functioning. The study also reflects on the social and political embeddedness of the entrepreneurial activities of the bazaar.Non-PRIFPRI1; CRP2; PSSPDSGD; PIMCGIAR Research Program on Policies, Institutions, and Markets (PIM
Are we moving towards a managerial model of e-governance? building a case for citizen centric e-participation in Khyber Pakhtunkhwa, Pakistan
Get PDFExploring the various information and communication technology measures adopted by the Government of Khyber Pakhtunkhwa to ensure ‘good and effective governance’ of the province, this paper aims to understand how far such e-governance initiatives endorse citizen’s participation in governance and what limitations are problematizing the quest for citizen engagement through such measures. The paper primarily explores and examines the service provider’s perspective through in-depth interviews with officials from KP Government’s IT focused departments. Applying the theoretical framework developed by Chadwick and May (2003), the paper argues that the KP government’s more than 140 plus IT based applications are mostly electronic versions of paper-based information posted on the websites, which makes it an information dissemination system rather than a fully interactive technology. There is little comprehension about ‘citizen engagement’ through e-government initiatives among bureaucrats and e-governance is largely seen as a one-sided provision of official information; citizen access to government services; or their access to the online complaint mechanisms. Officials also recognize that shortfall of essential infrastructure; public awareness deficits; accessibility issues; a lack of public trust in online service delivery mechanisms, and doubts over timely official response; all confound meaningful citizen participation in governance through the ICTs
Political apprenticeship and women leadership in a patriarchal society: Nasim Wali Khan’s political struggle through acquired skills
Get PDFThis paper addresses the critical aspects of women’s political leadership in Pashtun society. The primary questions under investigation are; whether Nasim Wali Khan acquired political leadership skills and if she did, how she utilized these skills to accomplish her political objectives? We intend to see how familial political apprenticeship as well as career progression, enabled Nasim Wali to attain and retain leadership positions successfully? We do so mostly with the help of analyzing primary data collected through in-depth interviews of Nasim Wali Khan, her family members, political workers, journalists, and academicians to comprehend to support our argument. This study highlights the qualities bestowed with and acquired by Nasim Wali Khan to attain a leadership position within a political party. The study argues that by developing her political skills, such as political acumen, eloquence, political astuteness, efficient decision making, confidence, and social astuteness, etc., Nasim Wali auspiciously engraved a political constituency in an otherwise patriarchal Pukhtun population. In such a way the paper explains the critical odyssey of Nasim Wali Khan in the uncertain sphere of politics
Exploring the Relationship Between Obesity and Depression: A Cross-Sectional Study at Jinnah Postgraduate Medical Center (JPMC), Karachi
Get PDFObjective: Obesity and depression are highly prevalent and have a significant effect on morbidity and mortality worldwide. This study aimed to evaluate the relationship between obesity and depression at Jinnah Postgraduate Medical Center (JPMC), Karachi, from January 23 to June 23.
Materials and Methods: A cross-sectional study was conducted with 157 obese and 157 non-obese participants, aged 18 to 70, selected using non-probability consecutive sampling. Data collection included demographic variables and the Beck Depression Inventory-II questionnaire. Data was analyzed using the SPSS version 20, employing the Chi-square test to examine associations with depressive episodes. Statistical significance was established with a p-value of < 0.05.
Results: The study found that 43.31% of obese participants suffered from depression, with varying frequencies of depression, compared to 5.73% of non-obese individuals. A significant association was found among obese and non-obese individuals and their BIDS scores with p-values < 0.005 and < 0.001, respectively. BIDS score indicated a high prevalence of borderline clinical depression among obese individuals compared to non-obese. Age, gender, education, marital status, occupation, and socioeconomic status were also assessed, revealing a significant association with obesity status except for marital status (p-value = 0.249) with p-values 0.001, 0.041, 0.002, 0.249, and 0.049, respectively. In addition, obesity was more prevalent among alcohol consumers 11 (07.01%) compared to smokers 28 (18.47%).
Conclusion: A significant association was found between obesity and depression. This association persisted even after considering factors like age, gender, education, marital status, occupation, and socioeconomic status. Furthermore, alcohol consumers were more prone to obesity
Albani’s Methodology in Textual Analysis of Hadith: An Analysis of Sheikh Shoaib Al-Arnaoot’s Criticism on Albani
Get PDFDebate is that, Allama Shoaib (R.A) criticism (that Allama Albani not focus on three Hadith) is wrong. Because the translation of Hadith he presented as logic is basically called “Husn”. Not only Allama Albani (R.A) even other number of Scholars are agree on this. Allama Shoaib (R.A) completely denies the compliance of Tarjih-o-Tatbig that is incorrect. So to don’t any Sahih Hadith that oppose other Sahih Hadith is not good it. Tatbig-o-taufeeq possible on both Side. This is the rule of Scholars. Try to Tatbig-o-tuafiq in oppose Ahadith due to this rule Hafiz ibn-qasoem (R,A) narrate more 8 “Mulk” So the point of Allama Shoaib three (3) Ahadith is incorrect. Review comments on criticism (Made By Allama Shoaib on Albani R,A) in 3 Ahadith.
- …
