Background
A modifiable risk factor for many diseases is physical inactivity. In this modern era, physical activity is acknowledged as a vital strategy to promote good health. According to the WHO, regular physical activity has various benefits for psycho-physical health. Decreased physical inactivity is happening in China due to the increased participation of the Chinese population in physical activity. The human body needs a specific level of physical activity to maintain good health.
Objective
The main aim of the present study was to assess the Chinese people’s understanding of physical activity and participation in physical activity as a preventive measure against different diseases.
Methods
The present study was exploratory and conducted in the Kunshan county-level city in Jiangsu Province, China. A well-designed questionnaire was used to collect the data from the survey participants. A total of 3390 residents were selected from 1300 households through a simple random sampling technique. The collected data were analyzed through SPSS software. Both univariate and bivariate analysis were performed.
Results
The survey results showed that the majority of women are participating in physical activity. Most of the Kunshan people participate in physical activity one time or more than one time per week. They perform 30–60 minutes of moderate-intensity physical activity to improve physical fitness, recreation, and disease prevention. Fitness walking is the most common type of physical activity among Kunshan people, and most of them participate in physical activity at night. Wilcoxon signed-rank test indicated that post-test ranks are statistically higher than pre-test ranks (P<0.0039, 0.0039, 0.0039, 0.0020, 0.0001, 0.0156, 0.0313).
Conclusion
The study results showed that physical activity plays a catalyst role in improving human health on a natural path. It reduces the risk factor of non-communicable diseases and promotes general wellbeing. These findings show that physical activity level increases in Chinese society as more people participate in physical activity for health-being.
This paper aims to analyse the impact of behavioural biases on asset pricing by hypothesising that sentiment and momentum are relevant risk factors in Pakistan equity market. The paper also examines the influence of sentiment and momentum factors on market risk, size, and value premiums by estimating the interacted asset-pricing model. To carry out the empirical analysis, monthly stock returns of firms listed on Pakistan Stock Exchange are used for the period 2000-2013. The empirical results indicate that both investor sentiment and momentum factors have a significant impact on the required rate of returns. Specifically, it is found that the premium for both factors is positive and statistically significant. Further, the estimated results provide evidence that the inclusion of these two factors in the Fama-French three-factor model considerably increases the prediction power of the model. The results also reveal that the inclusion of sentiment factor in the Carhart four-factor model significantly increases the prediction power of the model. Yet, the estimation results indicate that the prediction power of the model further increases when the interaction terms are added to the model in order to examine the indirect effects of sentiment and momentum. The results of the interacted model provide evidence of a significant impact of investor sentiment and momentum factors on market risk, size, and value premiums. Although investor sentiment negatively affects all the three premiums, the effect of momentum is positive for both market risk and size premium, whereas, it is negative for value premium. The findings are helpful in explaining and understanding the effects of behavioural biases on stock returns in Pakistan. The findings of the indirect effects suggest that investor sentiment and momentum factors significantly increase the chance of mispricing in Pakistan equity market.
This paper examines how equity liquidity affects firms’ investment decisions. We use an unbalanced panel data for a sample of 360 non-financial firms of Pakistan for the period 2001-2016. We apply the Hausman specification test to identify whether fixed or random effects model is appropriate. Using two alternative measures of equity liquidity, we find that equity liquidity has a significant positive impact on firms’ investment decisions. We also show that several firm-specific factors are significant in determining firms’ investment policy. The findings of the paper have significant implications for both policymakers and firm managers. Our results support the liquidity premium hypothesis.
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