{"title":"CROSS LOC TRADE BETWEEN INDIA AND PAKISTAN- CONTOURS AND DYNAMICS","authors":"Khalid Mir, Muneeb Hussain Gattoo","doi":"10.22555/PBR.V19I4.1885","DOIUrl":"https://doi.org/10.22555/PBR.V19I4.1885","url":null,"abstract":"The once economically prosperous region of Kashmir has ended up being decelerated in trade and trade relations as a fallout of the Indo-Pak conflict post partition. This phenomenon has had costs transcending the economy and the society at large. The partition has led to the division of families, local culture has been affected and the economy has suffered a great deal. The paper is an attempt to put cross-LoC trade in the larger framework of the conflict between India and Pakistan. While historicizing the conflict-ravaged economy of erstwhile united J&K, the paper discusses complementariness of patrilineage and trust, which constitutes a very important aspect of cross-LoC trade since 2008. The paper attempts to highlight the common bottle necks which have been placed in conducting trade between the two divided parts of Kashmir. Besides, the paper also points out that the policy of banning trade between patrilinear families is bound to have an adverse effect on the economic future of the region and cross LoC trade itself.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128247782","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":"CORPORATE CASH HOLDINGS AND SHAREHOLDER WEALTH: EVIDENCE FROM PAKISTANI MARKET","authors":"Sabeeh Ullah, Y. Kamal","doi":"10.22555/PBR.V19I4.1876","DOIUrl":"https://doi.org/10.22555/PBR.V19I4.1876","url":null,"abstract":"The purpose of this study is to understand the influence of cash holdings on shareholder wealth in Pakistan. After probing panel data ranging from 2006 to 2014, the study provides evidence that the size of the firm (RSIZE) shows noteworthy positive correlation with cash holding, whereas Leverage and Close Cash Substitute (CCS) are negatively related to cash holding. The negative correlation of leverage with cash holding provides support to the “pecking-order theory” in that companies use cash funds to pay back obligations when they turn out to be outstanding. These results also contribute some backing to the trade off theory, especially to (Keynes, 1936) “precautionary motive” where companies stockpile more cash. This study also funds that excess cash holding has a positive relation with market capitalization, which means that excess cash holdings increase shareholder wealth. These results are contrary to the earlier studies and reflect that excess cash holding has an effect on shareholder wealth in Pakistan.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134229956","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":"DEVELOPMENT AND VALIDATION OF JOB DEMANDS AND RESOURCES INDIGENOUS SCALE: A DEVELOPING COUNTRY PERSPECTIVE","authors":"Ume Laila, Rubina Hanif","doi":"10.22555/PBR.V19I4.1880","DOIUrl":"https://doi.org/10.22555/PBR.V19I4.1880","url":null,"abstract":"In this study we have looked at the development and validation of job demands and resources indigenous scale in the context of Pakistan. The purpose of scale development was to explore the indigenous job factors for a developing country like Pakistan. The interplay of job demands and resources with indigenous realities may cause performance outcomes differently in comparison with developed countries. The study is a combination of exploratory and confirmatory approaches. The study was conducted on a sample of 324 human services professionals for EFA, hence 264 professionals were approached for CFA. Psychometric properties of scale were established where the range of alpha reliabilities are .70 to .92 of subscales. Implications for counselors, administration and policy makers are discussed.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127264167","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 EFFECT OF CELEBRITY ENDORSEMENT ON CONSUMER PURCHASE INTENTION – EVIDENCE FROM Q MOBILE LINQ ADVERTISEMENT","authors":"Marium Mateen Khan","doi":"10.22555/pbr.v19i4.1882","DOIUrl":"https://doi.org/10.22555/pbr.v19i4.1882","url":null,"abstract":"Celebrity endorsement is a common practice adopted by companies throughout the world. This practice is increasing more and more now even for the technology industry. Companies use celebrity endorsement to influence consumer purchase intention by improving their brand image in the minds of the consumers. This research study gives a detailed and comprehensive account of the effect of celebrity endorsement on consumers’ purchase intention in the case of Qmobile (Linq) endorsed by Priyanka Chopra. Three hundred and fifteen questionnaires were distributed in various malls in Karachi. Two hundred and eighty five useable questionnaires were returned. Analysis was done using multiple regression analysis. The independent variables include; celebrity attractiveness, trustworthiness, expertise and match-up. Consumer purchase intention is the dependent variable. A firm should carefully select the celebrity to endorse its brand for effective communication of the message and positive response from the consumers.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117051051","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":"SPILLOVER EFFECTS OF DEMUTUALIZATION ON STOCK EXCHANGES: A REGIONAL COMPARISON","authors":"Abdul Wahid, Kamran Azam, Iftikhar Hussain Adil, Syed Asghar Abass Naqvi","doi":"10.22555/PBR.V19I4.1872","DOIUrl":"https://doi.org/10.22555/PBR.V19I4.1872","url":null,"abstract":"Demutualization is the process whereby a shareholder enjoys proprietary rights and it is well taken wherever it has been practiced. This study empirically investigates the impact of demutualization on stock market growth. A stratified sample of thirteen stock exchanges comprising five stock exchanges from Asian, five from European, and three from American region were analyzed. Results indicated strategic change in stock exchanges in Asian and European region appears to be more fruitful than American in terms of financial performance, but American stock exchanges seem to be more progressive in terms of stock market performance than Asian and European stock exchanges.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129113139","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":"MODELLING EMPIRICAL REGULARITIES FOR BANKING STOCKS IN PAKISTAN","authors":"M. A. Siddiqui","doi":"10.22555/pbr.v19i4.1874","DOIUrl":"https://doi.org/10.22555/pbr.v19i4.1874","url":null,"abstract":"This paper examines empirical regularities in terms of dayof- the-week anomalies for the banking stocks at the Karachi Stock Exchange for the period 1996 to 2008. Non normality of the data with excess kurtosis suggested application of ARCH and GARCH models which proved uncertainty of returns from banking stocks. Nonparametric analysis of the data reveals evidence of day-of-theweek effect in Pakistan as contrary to the findings of some of the previous studies on Asia-Pacific markets. The evidence of the dayof- the-week anomaly might be attributed to the strength of the nonparametric estimation methods which are more robust when the data does not meet assumptions of normal distribution. The study also finds relatively higher risk associated with returns on the last day of the working week in general. Negative skewness for most of the return series indicates probability of yielding loss for investors in the banking stocks. Volatility test proves asymmetric results for various banking stocks. Results of the nonparametric tests also reveal significantly different median returns on various days of the week for these stocks. The study finds out relatively greater risk associated with Faysal Bank, Jahangeer Siddiqui Bank, Meezan Bank, National Bank and Prime Commercial Bank on Mondays. For the days in the middle of the week the risks associated with the banking stocks are not asymmetric. For Friday, the closing day of the week, risk in respect of Bank of Punjab, Faysal Bank, Muslim Commercial Bank and National Bank is significantly large.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129865316","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}
L. Askari, Fahad Kamran, Ammar Baig, Mohammadreza Askari, A. Baig
{"title":"EFFECTIVE MENTORING ENHANCES EMPLOYEE PERSONAL RESILIENCE: A COMPARATIVE STUDY ON TELECOM COMPANIES","authors":"L. Askari, Fahad Kamran, Ammar Baig, Mohammadreza Askari, A. Baig","doi":"10.22555/PBR.V17I3.350","DOIUrl":"https://doi.org/10.22555/PBR.V17I3.350","url":null,"abstract":"Mentoring relationship between an experienced and young professional contributes to the development of resilience in personality of the young professional. This article focuses on comparison between two large telecom organizations, along-with their departmental comparisons on effective mentoring and resilience. The use of mentoring as a tool in organizations has significantly grown over the past fifteen years. The empirical results indicated positive correlation between effective mentorship of an experienced personnel and personal resilience in the personality of subordinate employee, r = 0.924**. Furthermore, the Engineering Department revealed a highest correlation, r = 0.960** as compared to HR and IT Departments, and correlation was greater for Russian Telecom Group, r = 0.912** as compared to Abu Dhabi Group. The implications of this research paper would enhance mentoring programs within telecom companies; enable HR personnel to understand their employee’s current level of resilience, and cultivate resilience within the personality of new employees for their performance augmentation.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126414710","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. Réhman, Mushtaq ur Rehman, Ali Muhammad, Syed Imad Shah
{"title":"DETERMINANTS OF CAPITAL STRUCTURE DURING THE CRISIS PERIOD: EVIDENCE FROM THE RECENT FINANCIAL CRISIS (2007-2009)","authors":"S. Réhman, Mushtaq ur Rehman, Ali Muhammad, Syed Imad Shah","doi":"10.22555/PBR.V17I3.308","DOIUrl":"https://doi.org/10.22555/PBR.V17I3.308","url":null,"abstract":"This study examines the factors that affect the capital structure decisions of private firms in normal and during credit crunch period. The fixed effects model is used to investigate this issue. The final sample of the study includes 4,973 private firms. The results of the study show that sales growth and tangible assets are significant determinants of firms’ capital structure both in the pre-crisis and during the credit contraction period. It further highlights that profitability is significant in normal time period only. It does not play an important role in firm financing decisions in the credit drought period. The crisis dummy is significant which means that credit supply condition is also one of the important factors that need to be considered while determining the financing mix in the crisis period. Hence, the results suggest that demand side and credit supply friction are significant factors to be considered in the firm financial decisions especially in the credit contraction period.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126548737","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":"SELF-ESTEEM IN MALE AND FEMALE PATIENTS OF FACIAL BURN INJURIES IN KARACHI","authors":"Asima Zahid, N. Hussain, Humeira Jawed","doi":"10.22555/PBR.V17I3.351","DOIUrl":"https://doi.org/10.22555/PBR.V17I3.351","url":null,"abstract":"Facial burn injury becomes a mental, physical and social stigma of our society which affects the victim’s self-esteem. A cross-sectional study was conducted to assess self-esteem in female victims of facial burns. Around 100 male and female burn patients were selected from two burn unit hospitals of Karachi. The survey employed the State Self-Esteem Scale (SSES) (Heatherton & Polivy, 1991) At a significance of p=0.0001, the data shows that there was a difference between the means of self esteem of male and female burn patients of Karachi. Males had statistically significant slightly higher score of self esteem 79±6 than female burn patients 70±7.8. Regression analysis on age and self-esteem revealed that age did not influence self-esteem of respondents. The factors which contribute to self esteem are gender, occupational status, number of dependant members, total no. of family members and marital status . Health care professionals, doctors and nurses working with such patients need to encourage them in coping with their lifestyle and normal settings. Social and moral support is an important factor to generate positivity in improving self-esteem of burn patients, family, friends; relatives need to be adequately guided in reducing the level of anxiety and depression related to low-self esteem.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133841973","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":"RELATED PARTY TRANSACTIONS AND CORPORATE GOVERNANCE MECHANISMS EVIDENCE FROM LISTED FIRMS OF KARACHI STOCK EXCHANGE, PAKISTAN","authors":"H. Ullah, A. Ullah","doi":"10.22555/pbr.v17i3.352","DOIUrl":"https://doi.org/10.22555/pbr.v17i3.352","url":null,"abstract":"This study has investigated the impact of corporate governance mechanisms on the related party transactions of Pakistani firms. A sample of 160 such non-financial firms are used for the analysis that has reported related party transactions in their annual reports for the sample period of 2006 to 2012. The empirical results of different regression models suggested that board independence, blockholdings and institutional ownership play a vital role in the internal governance mechanism. While associated firm ownership, CEO-duality and managerial ownership act as an agents that expropriates minor shareholder’s wealth through related party transactions. Moreover, banking loan, multiple banks in relation and audit quality act as external governance agents and can mitigate the conflict of interest between the minor and major shareholders. These agents may lessen the expropriation through related party transactions by the major shareholders, there by securing the interest of minor shareholders.","PeriodicalId":255789,"journal":{"name":"Pakistan Business Review","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133123721","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}