Faith-based versus value-based finance: Is there any portfolio diversification benefit between responsible and Islamic finance?
INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS
Authors: Ali, Md Hakim; Uddin, Md Akther; Khan, Md Atiqur Rahman; Goud, Blake
Abstract
The aim of the study is to explore whether responsible investment and Islamic (Shari'ah-compliant) investment, which have many similarities in objectives but some differences in how they are implemented, hold any diversification benefits for investors across a variety of investment horizons. We adopt an advanced econometric estimation using MGARCH-DCC and wavelet using daily returns data between January 1, 1997, and May 22, 2017. We find indications that responsible investment strategies can offer some hedging benefit to Islamic investors and vice versa. Moreover, the returns from this hedging strategy are higher for those addressing a shorter-term rather than long-term investment horizon. One exception was that we found diversification benefits for both short- and long-term focused investors during the financial crisis, when the time-varying correlation were near their lowest point.
Development and validation of BLRI Mastitis Test Kit at Bangladesh Livestock Research Institute Regional Station, Sirajganj
JOURNAL OF ADVANCED VETERINARY AND ANIMAL RESEARCH
Authors: Kabir, Md Humayun; Ershaduzzaman, Md; Nazir, K. H. M. Nazmul Hussain; Islam, Mohammad Sirajul; Khatun, Razia; Sarker, Md Shahjahan Ali; Abu Yousuf, Md; Ali, Yousuf; Sarkar, Nathu Ram; Giasuddin, Md
Abstract
Objective: The objective of this study was to develop a low-cost kit for the detection of subclinical mastitis (SCM) and to check its validity, reproducibility, and efficacy at the field level. Materials and Methods: A total of 550 quarter milk samples from crossbred dairy cows were collected, of which 400 milk samples were used to validate the newly developed BLRI mastitis test (BMT) kit to justify its efficacy as an individual test kit in detecting SCM based on somatic cell count (SCC) by direct microscopic count (DMC). The efficacy of the newly developed BMT was compared with the California Mastitis Test (CMT) kit. Another 150 milk samples were subjected to SCC determined by DMC and DCC (De Laval cell counter (R)) categorized by CMT and BMT scores. Results: A SCM test kit, namely, BMT kit was successfully developed in this study. The percentage accuracy of CMT and BMT were 76.75% and 75.75%; sensitivity 69.36% and 67.56%; specificity 85.95% and 85.85%; positive predictive value 86.03% and 85.71%; negative predictive value 69.23% and 68%, respectively. A p value of 0.001 was found for both CMT and BMT. However, CMT and BMT had no significant difference in sensitivity (p = 0.778). Average SCCs (cells/ml) determined by DCC and DMC, respectively, were mostly corresponded to the SCC ranges of both CMT and BMT scores. Conclusion: The newly developed BMT kit is an independent, cheap, farmer-friendly, first country made, and reliable SCM diagnostic test kit that can be used at field condition.