Investors from the whole world are looking for those stock markets that are less affected by interest rates. Pakistan is a good place to invest and the investors from the whole world are considering Pakistan for future ventures. The current study, therefore, aims to analyze the factors affecting investors’ decision making in Pakistan with the interaction effect of locus of control. The primary data are gathered from 300 respondents. Structural equation modelling (SEM-PLS) is used to analyze the interactions among variables. The study finds positive impact of availability and representative biases on investment decision making. The study could not find any moderating role of locus of control. The results imply that decisions made by Pakistani investors are driven by the most easily or currently available information and they trust on the information obtained from family and friends without any authentication and verification. One possible description of insignificant moderation effect of locus of control can be the sample traits used in the study, e.g., personal characteristics, that change from culture to culture. Another description of these findings may be the association between heuristic biases, including availability, representative and psychological biases and decision-making regarding investment is not personality specific.

The aim of this work to investigate the distribution of mercury in the gas phase, bottom ash and fly ash during the combustion of coal and solid waste such as dried sludge and solid refuse fuel (SRF) because the solid waste can be used as alternative fuel. In our study, we used two types of continuous combustors including vertical and horizontal combustor at the same conditions. In vertical combustor, we can get only the bottom ash while in horizontal combustor we get both fly ash and bottom ash. For both combustors, the gaseous mercury was measured by using the Ontario Hydro Method. The results showed that a significant amount of emission of gas phase mercury occurs during the combustion of coal, dried sludge, and SRF. Among the fuels, SRF showed high mercury oxidation while dried sludge showed a high level of gaseous mercury emission in the flue gas.

Experimental studies were carried out on surface area of char during pyrolysis of sewage sludge. To evaluate surface area of resultant char we use iodine number. Increase of iodine number shows that the surface area of char increases. The process parameters, temperature and holding time have significant effect on surface area of char. Increasing temperature above 400℃ surface area of char decreases while slightly increasing when holding time increases. In this study, the optimum conditions for high surface area of resultant char were found 400℃ and 30minutes, respectively.