Impact of a Non-Dedicated U-Turn on Traffic

Non-dedicated U turn has a direct effect on road safety, capacity and congestion during the traffic flow. U turn can have significant supremacy on traffic flow and headway. Therefore to study the impact of non-dedicated u turns on traffic is the ultimate requirement of the current time. This is a microscopic traffic study in which the data from a U turn (33°59’48.2"N 71°27’30.2"E) on road leading to Hayatabad and Karkhano in Peshawar is evaluated in terms of headway, speed and flow rate of traffic. Factual data is presented which shows that the average time headway surges when the traffic is interfered by the U turning vehicles. The probability density functions and cumulative density functions fit to the datasets of headway are then evaluated by the techniques of anova analysis to determine which distribution is the most suitable one for the data. Distribution data specific with the interfering U turn was taken in a separate set and evaluated. The result obtained show that the Burr Distribution and Generalized Extreme Value Distribution are the optimum to illustrate the headway data of traffic being interfered by U turning vehicles. This ligitimize the utilization of various time headway distributions of vehicles being interfered by U turning for traffic modeling.

Corporate Governance, Firm Value and Financial Performance: An Empirical Study on Manufacturing Companies Listed on Pakistan Stock Exchange

This study aimed to contribute to the existing literature in the field by determining a combined influence of corporate governance measures on both financial performance and firm value in the context of Pakistan. The proxies used for corporate governance measures (independent variables) were as follows: presence of executive, non-executive and independent directors; board size; presence of audit committee and presence of human resource and remuneration committee. On the other hand, the proxies for firm performance and firm value (dependent variables) were as follows respectively: ROA, ROE, MVA and EVA. A sample of 125 manufacturing firms listed on Pakistan Stock Exchange (PSX) was selected based on their market capitalization and availability of data. Data was obtained for the period 2011-2017 from audited financial reports of selected firms published on PSX and relevant companies? websites. Multiple regression analysis was performed to obtain the results. The regression results revealed that the EPS is positively related with governance measures whereas ROE is positively related with all other governance measures except audit committee and board size. This study supports the fact that EVA can be a dependable measure in terms of value maximization goal. Firms can escalate this figure by employing the CCG mechanism.Moreover, this study developed a strong association among the CCG variables and MVA as per the findings.