{"title":"The Casualty Evidence for Interest Rates and SME’s Outputs Relation from A Developing Economy","authors":"Adedeji Daniel Gbadebo","doi":"10.53909/rms.05.02.0232","DOIUrl":"https://doi.org/10.53909/rms.05.02.0232","url":null,"abstract":"Purpose Small and medium-scale enterprises (SMEs) play a significant role in many economies. Governments often employ various policies, especially monetary policy, to support their operations. This study aims to illustrate the interdependence between SMEs' output growth and monetary policy instruments, specifically the interest rate. Methodology The study utilized data spanning 1980 to 2021 to investigate evidence of symmetric Granger causality and asymmetric causality between interest rates and SMEs' outputs in Nigeria. Findings The symmetric approach reveals unidirectional causality evidence from the interest rate to SME output, without potential feedback effects. The asymmetric causality demonstrates that both positive and negative shocks in interest rates drive shocks in SMEs' outputs, but not vice versa. Conclusion The study concludes, among other findings, that to enhance the impact of policies on SMEs' outputs, authorities should establish state agencies as coordinating units to monitor policy implementation. Additionally, efforts should be directed towards putting adequate infrastructural facilities in place for the proper operation of the SMEs. Practical Implications The study provides insights indicating that positive (negative) shocks in the interest rate cause negative (positive) shocks in SMEs output, thus aligning with the associated economic theory.","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":" July","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139137078","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":"Foreign Direct Investment, Non-Renewable Energy and Economic Growth: An Empirical Analysis from South Africa","authors":"Ahmed Adekunle","doi":"10.53909/rms.05.02.0233","DOIUrl":"https://doi.org/10.53909/rms.05.02.0233","url":null,"abstract":"Purpose This study aims to examine the connection between foreign direct investment, non-renewable energy, and economic growth in South Africa. Methodology The data was collected from the World Bank’s website from 1990 to 2020. The VECM and Granger causality approaches were employed to evaluate the connection between Economic growth, FDI, and Non-renewable energy. Findings The findings show that a long-term equilibrium relationship exists among the variables. Further, the result of the Vector Error Correction Model (VECM), shows a coefficient value of 0.0038 indicating the short-term adjustment speed of the system towards its long-run equilibrium. The result of Granger causality shows no bidirectional Granger causality among any of the variables. There is a Unidirectional Causality between GDPC and NRENW. Conclusion The study concluded that non-renewable energy can enhance economic growth in these countries, but it can aggravate the degradation of the environment. Essentially, foreign direct investment (FDI) significantly and negatively affects growth, suggesting that FDI entry into African nations negatively affects the environment.","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":"21 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139130078","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":"Spatial Analysis of Relative Poverty: A Case Study of Slum Areas of Karachi","authors":"Amber Hasan, Nooreen Mujahid","doi":"10.53909/rms.05.01.0214","DOIUrl":"https://doi.org/10.53909/rms.05.01.0214","url":null,"abstract":"Purpose\u0000This study aims to explore the reasons for the existence of relative poverty in Karachi, a metropolitan city in Pakistan.\u0000Methodology\u0000A self-administered survey was conducted on 375 households in eight, major slum areas in Karachi (Orangi Town, Manghopir, New Karachi, Surjani Town, Bangali Para Gulshan, Lyari, Malir, and Korangi). Logistic regression was used for the data analysis.\u0000Findings\u0000 The results confirm that secondary education for males, the uneducated males, the bread-winning members, and children having no education significantly impacts the dependent variable, i.e., total family income. Whereas, tertiary education of children, secondary education of children, tertiary education of male households, and house possession have no impact on total family income. The result of Andrews and Hosmer-Leme confirms that the model is a good fit.\u0000Conclusion\u0000The study concludes that the basic cause of relative poverty is unequal access to education, a highly dependent population, and low-earning members. Unequal access to housing facilities is another significant factor that needs to be assessed.\u0000 ","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114774469","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":"IMPACT OF FEMALE LABOR FORCE PARTICIPATION IN ECONOMIC DEVELOPMENT OF PAKISTAN","authors":"Amber Hasan","doi":"10.53909/rms.05.01.0213","DOIUrl":"https://doi.org/10.53909/rms.05.01.0213","url":null,"abstract":"Purpose\u0000This paper tries to examine whether the labor force participation of the female population affects the growth of the economy.\u0000Methodology\u0000The sampling data was collected from the World Bank’s website from 1971 to 2018. The Johansen co-integration test and VECM model were used to examine the relationship between female labor force participation and economic development.\u0000Findings\u0000The result of the Johansen and Juselius Co-integration test showed the long-term relationship between Female Labor Force Participation and Economic Development. The finding also indicated that female labor force participation had a negative impact on GDP. The CUSUM stability test was used for the short-run stability adjustments. Results of the CUSUM stability test showed that the coefficients of ECM (-1) speed of adjustment were stable at a 5 percent significance level, there were no oscillations outside the critical level, and the CUSUM curve was above the origin line, which indicated the significance of our short-run dynamics.\u0000Conclusion\u0000The study concludes that female labor force participation has a significant negative impact on Pakistan’s GDP, this is due to societal and cultural norms as well as the religious dignity of women.","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116677762","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}
Dr. Raza Ali Khan Raza, Mirza Faizan Ahmed Faizan, Jaweriya Naz
{"title":"Analysis of Sectoral Energy Demand in Pakistan","authors":"Dr. Raza Ali Khan Raza, Mirza Faizan Ahmed Faizan, Jaweriya Naz","doi":"10.53909/rms.05.01.0215","DOIUrl":"https://doi.org/10.53909/rms.05.01.0215","url":null,"abstract":"Purpose\u0000This research aims to estimate the energy demand for different sectors, including commercial, industrial, residential, transportation, and agriculture. For this purpose, various factors affecting the demand for energy in each sector have been analyzed.\u0000Methodology\u0000The adopted methodology is box Jenkins a systematic approach of identification, estimation, diagnostic checks, and forecasting of the model. This model is appropriate for time series data of medium to long-term length.\u0000Findings\u0000The data analysis outcomes specified that Pakistan's energy demand mainly depends on five fuel types. Within each sector, the consumption of fuel varies. Results show that 86% of energy consumption share is held by transport oil, industrial gas, industrial coal, residential gas, and residential electricity.\u0000Conclusion\u0000The major issue in the energy sector is the demand-supply gap primarily caused by the gas and electricity deficit. Conclusively, sectoral demand increases in each sector where commercial, residential, and industrial energy demand has higher growth. Moreover, the price effect is negative for all variables except coal, making it a Giffen good","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":"261 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123966633","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}
F. Khaskhelly, Ali Raza, Hemal Azhar, Nida Zehra, Muhammad Hassan Safdar, M. Khokhar
{"title":"Corporate Social Responsibility through Collaboration in the Supply Chain: Insights into a More Sustainable Economy","authors":"F. Khaskhelly, Ali Raza, Hemal Azhar, Nida Zehra, Muhammad Hassan Safdar, M. Khokhar","doi":"10.53909/rms.05.01.0196","DOIUrl":"https://doi.org/10.53909/rms.05.01.0196","url":null,"abstract":"Purpose\u0000The purpose of this study is to explore and analyze corporate social responsibility (CSR) as a helpful tool in solving significant societal concerns in countries where there is a greater desire for social and economic growth, such as Pakistan.\u0000Methodology\u0000In order to examine the current issues on supply chain collaboration for sustainability, this paper used a triangulation research method. In order to determine indicators in a CSR-intensive environment, data, and literature, the energy sector publications on EUR-Lex, international and European official papers, and the online site of the European Commission data sources were analyzed in this study. The indicators were divided into groups based on their sources (sets of standards and guidelines, council frameworks, document series, tools, and comprehensive legislation), as well as their intended uses (financial, social, and environmental).\u0000Findings\u0000The findings state that supply chain collaboration completely fulfills CSR for a viable economy. It focuses on three leading fashion brands and assesses their impact using open-source data, past research, and their official websites. It also highlights how, in comparison to global corporations, Pakistani business satisfies their corporate social responsibility. \u0000Conclusion\u0000It is concluded that a supply chain can help companies minimize the environmental impact of their supply chain processes. Further, CSR is a part of the supply chain that helps businesses determine their social and economic responsibilities by focusing on environmental aspects to add to a more sustainable economy.","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122843056","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":"Comparative Study of Pair Trading Techniques in Pakistan’s Financial and Non-Financial Sector","authors":"M. Afzal, M. Usman, A. Raheman","doi":"10.53909/rms.05.01.0185","DOIUrl":"https://doi.org/10.53909/rms.05.01.0185","url":null,"abstract":"Purpose: \u0000This study attempts to empirically investigate the pair trading performance of financial and non-financial firms in Pakistan.\u0000Methodology: \u0000Daily data from 2008 to 2017 was collected for nine years. Cointegration and the distance approach were the two major analytical techniques used to evaluate the profitability of pair trading. The financial and non-financial sectors of the Pakistan Stock Exchange were used to build the pairs. \u0000Findings: \u0000Results showed that the top 5 pairs of portfolios exhibited the highest average excess returns of 0.0698, and Jensen's alpha is 0.0947 for the top 5 pairs. All pairs of firms showed significant and positive risk-adjusted performance. In the non-financial sector, the Top 10 pairs of portfolios had the highest average excess returns of 0.0789, and Jensen's alpha under the co-integration method for non-financial firms for all pairs 5, 10, 15, and 20 of the portfolios is also substantial and positive for risk-adjusted performance, with 0.0046, 0.0618, 0.0577, and 0.0493, respectively. Finally, pair trading under both techniques showed profitability. However, the co-integration technique exhibited better performance than the distance method.\u0000Conclusion: \u0000The study concluded that both pair trading techniques, particularly the co-integration technique, exhibited profitable pair trading performance that can assist investors and fund managers to earn positive returns on their investments regardless of market direction.","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127813248","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}
S. Khan, Muhammad Irfan Khan, Madiha Rais, Tooba Aziz
{"title":"Organizational Productivity: A Critical Analysis of the Impact of Employee Motivation","authors":"S. Khan, Muhammad Irfan Khan, Madiha Rais, Tooba Aziz","doi":"10.53909/rms.05.01.0192","DOIUrl":"https://doi.org/10.53909/rms.05.01.0192","url":null,"abstract":"Purpose: \u0000The main objective of this research was to examine the importance of training and development in the workplace.\u0000Methodology:\u0000Several dimensions of employee performance were analyzed, including productivity, job satisfaction, employee satisfaction, employee commitment, and decision-making. An adopted five Likert scale questionnaire was adopted for the online data collection from 100 respondents from the telecommunication industry. Convenience sampling was used for sampling and the\u0000PLS-SEM was the main technique for data analysis using smart PLS software.\u0000Findings:\u0000The results suggest that organizational performance and employee performance in the telecommunication sector in Pakistan increase if there is a significant relationship between employees and decision-making. Similarly, employees with a high level of job satisfaction and affective commitment will ultimately have a higher potential for productivity and career satisfaction.\u0000Conclusions:\u0000The study concluded that employee performance improves as teamwork increases. Teamwork within the company is very valuable; it directly affects the performance of employees. When an employee gets enough teamwork possibilities, his performance will automatically develop.","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126318834","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}
Shoib Hassan, Muhammad Aksar, Suleman Khan, T. Ahmed, M. Zahoor
{"title":"Impact of Audit Quality on Real Earnings Management: Moderating Role of Corporate Governance","authors":"Shoib Hassan, Muhammad Aksar, Suleman Khan, T. Ahmed, M. Zahoor","doi":"10.53909/rms.05.01.0191","DOIUrl":"https://doi.org/10.53909/rms.05.01.0191","url":null,"abstract":"Purpose:\u0000This study aims to examine the effectiveness of audit quality in restricting earnings management in the presence of country’s governance system.\u0000Methodology:\u0000The data was collected from 195 Pakistani-based and 150 UK based non-financial companies. The sampling period is ten years from 2010 to 2019. To test the hypotheses, the Generalized Method of Moments was applied.\u0000Findings:\u0000The results showed that firms switch from accrual earnings management to real earnings management in developed economies which are characterized by strong governance mechanism. Moreover, the negative association between governance mechanism and earnings management is increased in the presence of Big-4 auditor.\u0000Conclusion:\u0000It is concluded that audit quality restricts the firms to use real earnings management especially in those countries where governance mechanism is strong.","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126965800","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":"A REVIEW OF EDUCATIONAL PROBLEMS IN RURAL AREAS OF SINDH WITH ROLE OF PRIVATE NGOs","authors":"M. Hassan, M. S. Ramish, Waqas Bin Dilshad","doi":"10.53909/rms.04.02.0207","DOIUrl":"https://doi.org/10.53909/rms.04.02.0207","url":null,"abstract":"Purpose:\u0000No country can fulfill its objectives without a well-educated labor force, and that is why education is such an important part of national growth and development. Education is a strong weapon for social transformation, but depriving it of fundamental necessities shows that it has failed. This study has been carried out just to know the education concerns of rural areas of Sindh with the important role of NGOs plays in a country's growth for the development of its citizens' moral, social, and cultural creativity.\u0000Methodology:\u0000The literature review has been done in the formation of this study while the approach taken in this literature review was motivated by the work of Suikkala and Leino-Kilpi (2001) and Evans (2002). The Google search engine and the Google Scholar database were used to discover articles and books published between January 1999 and January 2022. Only works first published in English were considered.\u0000Findings:\u0000Physical distance to school, teacher hiring in rural area, spotty internet access, poverty and non-entrepreneurial teachers are the challenges of the education system.\u0000Conclusion:\u0000Problems of education in rural areas exist not only in Pakistan but throughout the world while supporting role of private NGOs is the dire need of education system in rural Sindh","PeriodicalId":171260,"journal":{"name":"Reviews of Management Sciences","volume":"124 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128082423","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}