The Wadi Sharis orogenic gold deposit in northwestern Yemen is related to the fault and shear zones vein at medium depth in the crust in the Neoprotcrozoic meta-sedimentary and meta-volcanosedimentary succes- sion of ...The Wadi Sharis orogenic gold deposit in northwestern Yemen is related to the fault and shear zones vein at medium depth in the crust in the Neoprotcrozoic meta-sedimentary and meta-volcanosedimentary succes- sion of greenschist to amphibolite facies metamorphism. Three distinct fluid inclusion types have been identified in the gold-bearing quartz sulphide veins of the deposit： （1） type I： vapour-liquid two-phase （VH2O-LH2O ）, （2） type II ： three-phase CO2 （ VCO2 - LH2O - LCO2 ） and （3） type III： vapour-rich （LCO2 - VCO2 ） inclusions. Six analysis of individual fluid inclusion indicate the fluid inclusions comprise mainly of H2O and CO2. Forma- tion P-T conditions recorded by fluid inclusions in quartz crystals correspond to 180℃-380℃ and up to 130 MPa, as indicated by high-density CO2 bubbles （up to 0. 98 g/cm3 ） observed in some inclusions. The esti- mated crystallization pressures correspond to approximately 4-10 km of overburden, assuming a lithostatic load. The salinity ranges from 0 to 22 wt%. The deposit holds at 0.2-5 g/t Au and contains low-moderate salinity.展开更多
The underpricing of initial public offerings （IPOs） is generally explained with asymmetric information and risk. We complement these traditional explanations with a new theory proposed by Ellul and Pagano （2006） w...The underpricing of initial public offerings （IPOs） is generally explained with asymmetric information and risk. We complement these traditional explanations with a new theory proposed by Ellul and Pagano （2006） where investors worry also about the after-market illiquidity that may result from asymmetric information after the IPO. The less liquid the after-market is expected to be, the larger will be the IPO underpricing. The samples are the 41 IPOs carried out between 2001-2005. The samples are 7 Shari＇ah-based firms and 34 non Shariah-based firms. Shariah-based firms are those included in Jakarta Islamic Index （JII）, at least one period （one semester）. Regression results show that the relationship between after-market liquidity and underpricing is insignificant unless we use trading frequency as proxy for liquidity for non Shariah-based firms.展开更多
Background:This study aims to investigate the extent to which the conditional volatilities of both Shari’ah compliant stock and conventional stock are related to those of interest rate and exchange rate in the emergi...Background:This study aims to investigate the extent to which the conditional volatilities of both Shari’ah compliant stock and conventional stock are related to those of interest rate and exchange rate in the emerging economy of Pakistan.Methods:We used KMI 30 and KSE 100 indices for Islamic and conventional stock for the period of July 2008 to November 2013.We employed Generalized Autoregressive Conditional Heteroskedastic in the mean(GARCH-M)model.This framework relaxes constancy assumption of classical linear regression(CLRM)model and allows exchange rate and interest rate volatility to evolve over time.The GARCHM framework also reveals results about risk-return trade-off in the context of both Islamic and conventional stock indices.Results:The findings show positive and statistically significant effect of interest rate volatility on KSE-100,whereas KMI-30 remains unaffected by the same.Exchange rate volatility is found to be significant for both conventional and Islamic indices.The relationship of risk coefficient(γ)and stocks returns,as expected,is positive and statistically significant for both KMI-30 and KSE-100.This result is consistent with the theory of risk-return trade-off.The results of parametric t-test show significant difference between returns of both indices.This implies that Shari’ah compliant stock index(KMI-30)of Pakistan underperforms its conventional counterpart.Conclusion:By using different performance measures(Sharp ratio,Jensen alpha,Treynor ratio),this study also investigates the hypothesis that Islamic stock index has inferior performance compared with unscreened conventional counterparts due to availability of a smaller investment universe,increased monitoring costs,and limited diversification.展开更多
This paper examines the organizational forms of Islamic banks, corporate governance mechanism, and their effects on organizational behavior, specifically related to managerial expense preferences. The paper opted for ...This paper examines the organizational forms of Islamic banks, corporate governance mechanism, and their effects on organizational behavior, specifically related to managerial expense preferences. The paper opted for an ordinary least square （OLS） cluster regression and followed by a stochastic frontier approach test as a robustness test. Findings of this study indicate that organizational forms of Islamic banks influence managerial expense preferences. A stochastic frontier approach test supports the initial findings and reveals that the average noninterest cost inefficiency of Islamic banks without Shari＇ah Boards is 23% compared to commercial banks. Islamic banks with Shari＇ah Boards are, on average, 28% less noninterest cost inefficient compared to Islamic banks without Shari＇ah Boards, and are on average, 16% less noninterest cost inefficient compared to commercial banks. Shari＇ah Supervisory Boards＇ positive implications for Islamic banks are independent of the expectations of the governing structure or ownership. Specifically when looking at Islamic banks with Shari＇ah Supervisory Boards, managerial propensity to engage in self-serving behavior is reduced. This paper fulfils an identified need to understand how the distinct nature of Islamic banks organizational forms and governance impact managerial behaviour.展开更多
The exponential growth of bioinformatics tools in recent years has posed challenges for scientists in selecting the most suitable one for their data analysis assignments.Therefore,to aid scientists in making informed ...The exponential growth of bioinformatics tools in recent years has posed challenges for scientists in selecting the most suitable one for their data analysis assignments.Therefore,to aid scientists in making informed choices,a community-based platform that indexes and rates bioinformatics tools is urgently needed.In this study,we introduce Bio Treasury(http://biotreasury.rjmart.cn),an integrated communitybased repository that provides an interactive platform for users and developers to share their experiences in various bioinformatics tools.Bio Treasury offers a comprehensive collection of well-indexed bioinformatics software,tools,and databases,totaling over 10,000 entries.In the past two years,we have continuously improved and maintained Bio Treasury,adding several exciting features,including creating structured homepages for every tool and user,a hierarchical category of bioinformatics tools and classifying tools using large language model(LLM).Bio Treasury streamlines the tool submission process with intelligent auto-completion.Additionally,Bio Treasury provides a wide range of social features,for example,enabling users to participate in interactive discussions,rate tools,build and share tool collections for the public.We believe Bio Treasury can be a valuable resource and knowledge-sharing platform for the biomedical community.It empowers researchers to effectively discover and evaluate bioinformatics tools,fostering collaboration and advancing bioinformatics research.展开更多
Saudi land has always been considered as sacred by Muslims,since the emergence and the cradle of Islam is Mecca to which all Muslims in the globe turn in their daily obligatory prayers.Millions of Muslims from all con...Saudi land has always been considered as sacred by Muslims,since the emergence and the cradle of Islam is Mecca to which all Muslims in the globe turn in their daily obligatory prayers.Millions of Muslims from all continents go to perform their annual pilgrimage function‘haj’in this Holy Shrine.Moreover,Saudi’s legal system and practices in respect to human rights has an impressive effect on the other members of the GCC.This paper probes constitutional human rights of Saudi Arabia.展开更多
Shari ng a pot of tea with frie nds or family creates a sense of intimacy and a shared experience."Watching those little curled-up leaves open up in the hot water is like magic,n Hana smiled.uThe moment that beau...Shari ng a pot of tea with frie nds or family creates a sense of intimacy and a shared experience."Watching those little curled-up leaves open up in the hot water is like magic,n Hana smiled.uThe moment that beautiful aroma hits me,ifs like I'm being whisked away to a peaceful place,right in the heart of the Chinese tea tradition."展开更多
文摘The Wadi Sharis orogenic gold deposit in northwestern Yemen is related to the fault and shear zones vein at medium depth in the crust in the Neoprotcrozoic meta-sedimentary and meta-volcanosedimentary succes- sion of greenschist to amphibolite facies metamorphism. Three distinct fluid inclusion types have been identified in the gold-bearing quartz sulphide veins of the deposit： （1） type I： vapour-liquid two-phase （VH2O-LH2O ）, （2） type II ： three-phase CO2 （ VCO2 - LH2O - LCO2 ） and （3） type III： vapour-rich （LCO2 - VCO2 ） inclusions. Six analysis of individual fluid inclusion indicate the fluid inclusions comprise mainly of H2O and CO2. Forma- tion P-T conditions recorded by fluid inclusions in quartz crystals correspond to 180℃-380℃ and up to 130 MPa, as indicated by high-density CO2 bubbles （up to 0. 98 g/cm3 ） observed in some inclusions. The esti- mated crystallization pressures correspond to approximately 4-10 km of overburden, assuming a lithostatic load. The salinity ranges from 0 to 22 wt%. The deposit holds at 0.2-5 g/t Au and contains low-moderate salinity.
文摘The underpricing of initial public offerings （IPOs） is generally explained with asymmetric information and risk. We complement these traditional explanations with a new theory proposed by Ellul and Pagano （2006） where investors worry also about the after-market illiquidity that may result from asymmetric information after the IPO. The less liquid the after-market is expected to be, the larger will be the IPO underpricing. The samples are the 41 IPOs carried out between 2001-2005. The samples are 7 Shari＇ah-based firms and 34 non Shariah-based firms. Shariah-based firms are those included in Jakarta Islamic Index （JII）, at least one period （one semester）. Regression results show that the relationship between after-market liquidity and underpricing is insignificant unless we use trading frequency as proxy for liquidity for non Shariah-based firms.
文摘Background:This study aims to investigate the extent to which the conditional volatilities of both Shari’ah compliant stock and conventional stock are related to those of interest rate and exchange rate in the emerging economy of Pakistan.Methods:We used KMI 30 and KSE 100 indices for Islamic and conventional stock for the period of July 2008 to November 2013.We employed Generalized Autoregressive Conditional Heteroskedastic in the mean(GARCH-M)model.This framework relaxes constancy assumption of classical linear regression(CLRM)model and allows exchange rate and interest rate volatility to evolve over time.The GARCHM framework also reveals results about risk-return trade-off in the context of both Islamic and conventional stock indices.Results:The findings show positive and statistically significant effect of interest rate volatility on KSE-100,whereas KMI-30 remains unaffected by the same.Exchange rate volatility is found to be significant for both conventional and Islamic indices.The relationship of risk coefficient(γ)and stocks returns,as expected,is positive and statistically significant for both KMI-30 and KSE-100.This result is consistent with the theory of risk-return trade-off.The results of parametric t-test show significant difference between returns of both indices.This implies that Shari’ah compliant stock index(KMI-30)of Pakistan underperforms its conventional counterpart.Conclusion:By using different performance measures(Sharp ratio,Jensen alpha,Treynor ratio),this study also investigates the hypothesis that Islamic stock index has inferior performance compared with unscreened conventional counterparts due to availability of a smaller investment universe,increased monitoring costs,and limited diversification.
文摘This paper examines the organizational forms of Islamic banks, corporate governance mechanism, and their effects on organizational behavior, specifically related to managerial expense preferences. The paper opted for an ordinary least square （OLS） cluster regression and followed by a stochastic frontier approach test as a robustness test. Findings of this study indicate that organizational forms of Islamic banks influence managerial expense preferences. A stochastic frontier approach test supports the initial findings and reveals that the average noninterest cost inefficiency of Islamic banks without Shari＇ah Boards is 23% compared to commercial banks. Islamic banks with Shari＇ah Boards are, on average, 28% less noninterest cost inefficient compared to Islamic banks without Shari＇ah Boards, and are on average, 16% less noninterest cost inefficient compared to commercial banks. Shari＇ah Supervisory Boards＇ positive implications for Islamic banks are independent of the expectations of the governing structure or ownership. Specifically when looking at Islamic banks with Shari＇ah Supervisory Boards, managerial propensity to engage in self-serving behavior is reduced. This paper fulfils an identified need to understand how the distinct nature of Islamic banks organizational forms and governance impact managerial behaviour.
基金supported by the National Key Research and Development Program of China(2021YFA1302100)the National Natural Science Foundation of China(82172861,32200542)+2 种基金the Young Elite Scientists Sponsorship Program by Guangzhou Association for Science and Technology(QT-2023-045)the Youth Talent Support Program of Guangdong Provincial Association for Science and Technology(SKXRC202313)the Young Talents Program of Sun Yat-sen University Cancer Center(YTP-SYSUCC-0033)。
文摘The exponential growth of bioinformatics tools in recent years has posed challenges for scientists in selecting the most suitable one for their data analysis assignments.Therefore,to aid scientists in making informed choices,a community-based platform that indexes and rates bioinformatics tools is urgently needed.In this study,we introduce Bio Treasury(http://biotreasury.rjmart.cn),an integrated communitybased repository that provides an interactive platform for users and developers to share their experiences in various bioinformatics tools.Bio Treasury offers a comprehensive collection of well-indexed bioinformatics software,tools,and databases,totaling over 10,000 entries.In the past two years,we have continuously improved and maintained Bio Treasury,adding several exciting features,including creating structured homepages for every tool and user,a hierarchical category of bioinformatics tools and classifying tools using large language model(LLM).Bio Treasury streamlines the tool submission process with intelligent auto-completion.Additionally,Bio Treasury provides a wide range of social features,for example,enabling users to participate in interactive discussions,rate tools,build and share tool collections for the public.We believe Bio Treasury can be a valuable resource and knowledge-sharing platform for the biomedical community.It empowers researchers to effectively discover and evaluate bioinformatics tools,fostering collaboration and advancing bioinformatics research.
文摘Saudi land has always been considered as sacred by Muslims,since the emergence and the cradle of Islam is Mecca to which all Muslims in the globe turn in their daily obligatory prayers.Millions of Muslims from all continents go to perform their annual pilgrimage function‘haj’in this Holy Shrine.Moreover,Saudi’s legal system and practices in respect to human rights has an impressive effect on the other members of the GCC.This paper probes constitutional human rights of Saudi Arabia.
文摘Shari ng a pot of tea with frie nds or family creates a sense of intimacy and a shared experience."Watching those little curled-up leaves open up in the hot water is like magic,n Hana smiled.uThe moment that beautiful aroma hits me,ifs like I'm being whisked away to a peaceful place,right in the heart of the Chinese tea tradition."
