{"title":"Short Term and Long Term Herding Prospects: Evidence from Pakistan Stock Exchange","authors":"S. Jabeen, S. S. Rizavi","doi":"10.34091/ajss.14.1.08","DOIUrl":"https://doi.org/10.34091/ajss.14.1.08","url":null,"abstract":"The present research intends to examine the herd behaviour of investors in the Pakistan Stock Exchange (PSX). Herd behaviour in stock market is sometimes based on fundamental information, which causes quick price adjustments to new information and leads to efficient markets. Still, sometimes it is not dependent on fundamental information and results in price instability. Herding can be a short term phenomenon, but sometimes a longer time span can provide favourable outcomes for the occurrence of herd behaviour. Considering these diverse views, intraday, daily, weekly, and monthly stock prices of 528 companies listed in the PSX have been used to calculate stock returns. Market-wide herd measure, i.e. CSAD, has been used to compute the herd behaviour. Data has been investigated for autocorrelation, heteroscedasticity, and stationarity issues. Findings revealed that herding did not exist in PSX, but some sectors showed this behaviour. Herd behaviour was more likely to exist at a daily level. The tendency of occurrence of the herding phenomenon gradually decreases at intraday and weekly levels. However, herding cannot be taken as a long term phenomenon as just a single sector was evidenced about its existence at the monthly level. Herding is an inherent phenomenon that is very difficult to eliminate from the stock market completely. However, knowledge and information sharing can guide investors to improve this behaviour\u0000Keywords: Herd Behaviour, Behavioural Finance, Return Dispersions, Pakistan Stock Exchange, CSAD","PeriodicalId":114167,"journal":{"name":"Abasyn Journal of Social Sciences","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123377454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From Younger to Older Workers: Goals, Tenure and the Psychological Contract","authors":"Abaidullah Anwar, M. Bal, M. Athar","doi":"10.34091/ajss.13.2.08","DOIUrl":"https://doi.org/10.34091/ajss.13.2.08","url":null,"abstract":"The study explains the goals’ based formation of relational PC (objective-1) differently for younger\u0000and older workers at shorter and longer tenures (objective-2). Hypotheses were developed lensing\u0000through SPF and PC theories. Moderated moderation of tenure by age on association between\u0000workers’ goals and relational contract were tested using multiple regression, on a sample of 538\u0000employees from agriculture universities of Pakistan. The study found that older workers develop\u0000relational contract in pursuance to goals of comfort, stimulation and status, while younger to\u0000achieve comfort and stimulation only (objective-1). Further, based on goals of comfort and\u0000stimulation, the relational contract of younger workers remains strongest at shorter tenure, while\u0000the older workers’ remains strongest at longer tenure (objective-2). Finally, the older workers also\u0000develop stronger relational contract at longer tenure to achieve goal of status (objective-2). Based\u0000on findings, the study suggests some practical implications for employers that can be considered\u0000while devising HR policies (objective-3).\u0000Keywords: Psychological Contract, Employee Relations, Age, Job Tenure, Goals, Social Production\u0000Function","PeriodicalId":114167,"journal":{"name":"Abasyn Journal of Social Sciences","volume":"78 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132463153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The impact of person job fit and person organization fit on employee job performance: A study among employees of services sector","authors":"Zulfiqar Ali Rajper, I. Ghumro, R. Mangi","doi":"10.34091/jass.13.1.05","DOIUrl":"https://doi.org/10.34091/jass.13.1.05","url":null,"abstract":"The right for right place can make a big difference for the growth of organization human resource playing a significant role. To further strengthen the organization, the tasks are being assigned on merit basis to those employees who possess relevant knowledge and competence. The competitive strength and effectiveness of organization is the skilled human force. The object of this study is to examine relationship person job fit, person organization fit and employee job performance. To determine efficiency and effectiveness of employees; the job performance is an important source in organization. Logically better a person ‘fit’ may take less time to adjust the way; he shall have to do (Roberts and Robins, 2004). The sample of 381 government employees, working in health sector of Sindh was selected for this study. The random sampling technique was used from known population.The data was analyzed by using AMOS v.22 software. It has been found that there is a positive relationship between PJF (Person Job Fit) POF (Person Organization Fit) and EJP (Employee Job Performance). Keywords: Person Job Fit (PJF) Person Organization Fit (POF) and Employee Job Performance (EJP)","PeriodicalId":114167,"journal":{"name":"Abasyn Journal of Social Sciences","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126592967","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The antecedents of corporate social and environmental responsibility discourse in Pakistan: Multiple theoretical perspectives","authors":"M. Basheer, Saqib Muneer, Muhammad Atif, Z. Ahmad","doi":"10.34091/ajss.13.1.01","DOIUrl":"https://doi.org/10.34091/ajss.13.1.01","url":null,"abstract":"The primary purpose of the study is to explore the antecedents of corporate social and environmental responsibilities discourse practices in Pakistan. The industry sensitivity, government shareholding, block holder ownership, print media coverage, environmental monitoring programs, and strategic posture are examined as antecedents of corporate social and environmental responsibility practices. A multidimensional theoretical perspective namely stakeholder theory (ST), institutional theory (IT), agency theory (PAT), and legitimacy theory (LT) is used to conceptualize the phenomena. All the four of perspective theories (positive accounting theory, legitimacy theory, stakeholder theory, and institutional theory) claim that there are ‘pressures’ that impact the organization. How much ‘pressures’ are recognized, managed or satisfied differs from one perspective of theory to the other. To estimate the data, this study uses three sets of panel data models, i.e., the pooled ordinary least squares model (POLS) or constant coefficients model, fixed effects (FEM or least squares dummy variable/LSDV model) and random-effects models. The final sample is comprising of 173 firms over eight years from 2011 to 2017. The firms listed in PSX are included in the sample. Overall the findings of the study have shown agreement with the proposed results. However, the study has provided more support to the institutional theory and stakeholder theory.\u0000Keywords: Corporate Social Responsibility, Stakeholders Theory, Agency Theory, Pakistan","PeriodicalId":114167,"journal":{"name":"Abasyn Journal of Social Sciences","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129767223","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Authentic Leadership, Ethical Climate & Workplace Incivility: How Authentic\u0000Leadership Prevents Deviant Work Behavior-A Case from Pakistan","authors":"M. Qureshi, M. Hassan","doi":"10.34091/AJSS.12.1.13","DOIUrl":"https://doi.org/10.34091/AJSS.12.1.13","url":null,"abstract":"Inadequacies of seasoned leadership styles and unethical leadership practices have resulted in manynegative consequences for individuals and organizations. Authentic leadership is a character-drivenleadership model equipped with morality, integrity, and authenticity but little is known whetherauthentic leadership can impact workplace incivility-a deviant work behavior. Workplace incivility,with its deteriorating consequences, is a prevalent phenomenon in organization irrespective ofcountry origin or nature of the organization. Indeed, the research community has paid littleattention to this area. This study, drawing on Social Learning Theory and Leader-Member ExchangeTheory, attempts to fill this gap. This study also attempts to identify the mediating mechanismthrough which authentic leaders translate their positive influence. Based on data collected from 127respondents from the healthcare sector in Karachi, this study employs AMOS and PROCESS todetermine the goodness of model fit and to test proposed hypotheses respectively. Findings of thisresearch suggest that authentic leaders negatively influence workplace incivility. Ethical climatepartially mediates the impact of authentic leadership on workplace incivility. This study hassignificant theoretical implications. \u0000Keywords: Authentic leadership, ethical climate, workplace incivility","PeriodicalId":114167,"journal":{"name":"Abasyn Journal of Social Sciences","volume":"82 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126244091","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}