This study contributes to the literature by exploring the relationship between board financial expertise and cash holding policy and further showing how this relation is moderated by multiple large shareholders (MLS). This research is based on agency theory, resource dependence, trade-off, and pecking order theory to confirm how resourceful directors screen cash holding practices. This study selects the 100 listed family firms from the emerging economy of Pakistan for the period of 2006–2017. With the use of static (random and fixed effect estimator) and dynamic (GMM) estimation techniques, this study reveals that the financial expertise of the board members has a significant negative impact on the firms’ cash holding level. Further, moderating effect of MLS between board financial expertise and cash holding is significantly positive due to weak corporate governance mechanisms in family firms. Moreover, the research has implications for developing corporate governance mechanism and the management of liquid assets that corporate management might use for their benefits.

In this study, a low-cost, efficient, and environmentally friendly anaerobic sludge process for the treatment of industrial beverage wastewater was investigated to analyze the effect of bacteria growth on the degradation of organic matter (chemical oxygen demand). Additionally, the mechanism, interactions between the microbe’s growth, and operating conditions of an anaerobic batch reactor along with the wastewater treatment efficiency were evaluated via microbial kinetics. The kinetic coefficients based on chemical oxygen demand (COD) by conventional techniques such as kinetic coefficients growth yield (0.46 mg VSS/mg COD), saturation coefficient (3500 mg/L COD), the maximum rate of substrate utilization per unit mass of biomass (0.0066 mg/L COD), growth rate by Monod equation, M (0.03833 L/h), and maximum growth rate, μm (0.03672 L/h) were calculated. The results show a higher rate of substrate degradation (0.54 day−1) due to the high COD removal efficiency (CRE) of 99.31% during 13 days that was achieved, which can be attributed to the active involvement of anaerobic microbes in the process of degradation. Based on these results, it can be concluded that the current study can be used as an effective way to analyze the industrial beverage wastewater at commercial levels.

In this review article the synthesis of iron chalcogenides using single source precursors is discussed. The effect on morphology and phase of iron chalcogenides formed is studied by varying single source precursors, reaction temperature, reaction time, surfactants and their concentration. Copyright © 2016 John Wiley & Sons, Ltd.

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