علم الجنین و تخلیق جنین کے مختلف ادوار و مراحل قرآن کریم اور سائنس کے تناظر میں

Embryology is such an academic discipline which was based upon the Qura’nic revelation purely and its details were provided by The Holy Prophet (SAW) whereas the scientists remained totally unaware of its intricate details until twentieth century. It was the time when they discovered various stages of the creation and development of fetus inside the mother’s womb and after examination of all these stages through various scientific instruments they openly admitted that Qura’nic verses about fetal development are absolutely accurate. Their acknowledgement is a strong evidence of the authenticity and veracity of The Holy Qura’n for scientific minded people. Not only this but these embryologists also admitted that the information provided in the Holy Qura’n and the A╒adith of The Holy Prophet (SAW) helped them a great deal in formulating the basic hypotheses of their research. So, these scientific discoveries are clear proofs of the miraculous character of Holy Qura’n. The current article is an effort to elaborate the link of modern embryology with the details given in the sacred literature of Islam.

Interrelationship Among Capital Structure, Corporate Governance Measures and Firm Value : Panel Study from Pakistan

The aim of the study is to test most discussed relationship between capital structure and firm value by investigating the intervening impact of various corporate governance measures. Major objective of the study is to examine the moderating and mediating impact of selected governance measures (board size, board independence, CEO role duality, managerial ownership and ownership concentration) on the relationship between capital structure (leverage) and firm value (Tobin' Q). However, the study also investigated the impact of governance measures on firm value, and impact of leverage on these governance measures. The study used the 775 firm year observations of 155 non-financial companies listed at Karachi Stock Exchange for financial years containing 2008 to 2012. Keeping in view the nature of data (balanced panel), fixed effects regression method is employed to estimate the formulated relationships. To test the mediation and moderation impact of governance measures this research used methods suggested by Baron and Kenny (1986). For first relationship of interest (impact of leverage on firm value) the study found significant positive impact, but in case of corporate governance, only board independence and ownership concentration measures are found affecting firm value significant with positive sign. Intensity of relationship is also very high (more than 0.3 for both of the variables). For third relationship i.e., impact of leverage on governance measures, this study found no significant affects. While finding, moderation this study found significant positive moderation for board independence and ownership concentration. However for managerial ownership this study found significant negative moderating effect between leverage and firm value. Four steps of Baron and Kenny (1986) are followed to find mediation, but in second step (impact of leverage on governance measures) this study found no teneralizable effects, so as a result this research study concluded no mediation.