32 research outputs found
The Impact of Corporate Social Responsibility on Firm’s Financial Performance
Corporate Social Responsibility (CSR) is now an integral part of business model of most of the modern organizations. Companies are making efforts to play their role in improving society in one or other ways. The scope of efforts ranges from donating money to nonprofit organizations to employing environmental-friendly policies in their workplace. As per the general global perception the corporate sector of Pakistan has been lacking behind in respect of CSR implementation. It has largely concentrated on profit minting rather than taking care of the welfare aspects of employees and other stakeholders. This attitude has affected the business and as a result industry has failed to keep pace with the modern industry. The objective of this study is to analyze the impact of CSR on firm’s financial performance. The research therefore predicates that increase in CSR activities of poor CSR firms shall have a negative effect on the company’s financial performance. Whereas, Middle CSR firms having a positive relationship with Excess Value (EV) will enhance the project performance, financial stature and future prospect of the firms. However, the firms with the best CSR will always have a positive relationship with the firm’s financial performance but its impact will not be observed significantly on the firm’s financial condition. 
A Multifactor Model of Banking Industry Stock Returns: An Emerging Market Perspective
The purpose of this study is to examine the stock returns variation to specific macroeconomic and industry variables by applying multi-factor model. The firms of banking industry were selected for this study on the basis of data availability, profitability and performance on the Karachi Stock Exchange. The data for the selected firms and economic variables obtained for the period of 10 years. Descriptive statistics performed for the temporal properties and GARCH model was used to analyze the risk and return relationship. The tests were applied on the stock returns of each firm and on the data set of the entire industry to generalize the results. The results reveal that market return is largely accounts variation in stock returns, however the inclusion of other economic variables has added to the explanatory power of the model. It is also found that industry stock returns are more responsive to changes in economic conditions than firm level stock returns
Post Draw Effects of Prize Bonds’ Investment on Bullion Returns
The study was conducted with the view to test the impact of cash out flow from the Pakistan Prize Bond market to Gold and Silver markets as a result of the bonds’ draw. The data from July 2007 to June 2019 was selected, which included Returns of Gold and Silver Markets. The data was tested with Event Study and AR, AAR & CAR were calculated. The results of AR & CAR did not endorse both the hypotheses on the basis that significant readings were found both in pre and post draw dates, to rule out any impact of cash flow from Prize Bond market into Gold and Silver markets. Whereas, AAR results were insignificant as such, hence fortifying the inference of rejection of both the hypotheses. So, both the hypotheses of having different returns on prize bond draw dates in Gold and Silver markets were not supported. Though the results were incongruent with the hypotheses, yet study outcomes as such are significant enough to propose regulators to contemplate legislations to fetch more funds from this comparatively cheaper source through enhanced documentation, which ultimately would make the economy more compliant
A szerencsejáték-kötvénybefektetések sorsolás utáni hatása a nemesfémhozamokra
A tanulmány cĂ©lja, hogy tesztelje, milyen hatással van a pakisztáni szerencsejátĂ©k-kötvĂ©nyek piacárĂłl az arany- Ă©s ezĂĽstpiacra irányulĂł pĂ©nzáramlás az ilyen kötvĂ©nyek sorsolásakor. Az elemzĂ©shez kiválasztott adatok 2007 jĂşliusa Ă©s 2019 jĂşniusa közöttiek, Ă©s magukban foglalják az arany- Ă©s ezĂĽstpiacok hozamait. Az adatokat esemĂ©nytanulmánnyal teszteltĂĽk, Ă©s AR-, AAR- Ă©s CAR-számĂtások is kĂ©szĂĽltek. Az AR- Ă©s a CAR-számĂtások nem támasztották alá azt a kĂ©t hipotĂ©zist, amelyek azon alapultak, hogy jelentĹ‘s Ă©rtĂ©keket találtak mind a sorsolás elĹ‘tti, mind a sorsolás utáni adatokban, annak Ă©rdekĂ©ben, hogy ki lehessen zárni a szerencsejátĂ©k-kötvĂ©nyek piacárĂłl az arany Ă©s az ezĂĽst piacára törtĂ©nĹ‘ pĂ©nzáramlás hatását. Az AAR-eredmĂ©nyek pedig ekkĂ©nt jelentĂ©ktelenek voltak, Ăgy megerĹ‘sĂtve mindkĂ©t hipotĂ©zis elvetĂ©sĂ©t. ĂŤgy, a kutatás eredmĂ©nyei egyik hipotĂ©zist sem igazolták, melyek szerint a szerencsejátĂ©k-kötvĂ©nyek sorsolási napjain kĂĽlönböznek a hozamok az arany- Ă©s az ezĂĽstpiacon. Bár az eredmĂ©nyek nem igazolták a hipotĂ©ziseket, a megállapĂtások alapján a jogalkotĂłk számára javasolhatĂł, hogy megfelelĹ‘ Ă©s átláthatĂł dokumentáciĂłval több pĂ©nzre lehetne szert tenni ebbĹ‘l a viszonylag olcsĂł forrásbĂłl, ami tisztábbá tennĂ© a gazdaságot
A study measuring the effect of pay, promotion and training on job satisfaction in pakistani service industry
Job satisfaction has long been an important and interesting area in organizational research.
More recently, considerable attention has been focused on the concept of job satisfaction
and factors that affect it. A major reason for the tremendous interest in this work attitude is
that it has been consistently found to be related to important employee behaviors, such as
turnover, absenteeism, and job performance. The objective of this study is to analyze the
effect of human resource practices such as pay, promotion and training on job satisfaction.
The sample of this study consisted of 150 employees of both private and public sector
service organizations in the vicinity of twin cities of Rawalpindi and Islamabad. A
questionnaire was used to gather data regarding above mentioned variables and
demographic characteristics of the respondents. Data then analyzed with the help of SPSS
using regression analysis and Independent Sample T Test. A positive and significant
relationship was found between job satisfaction and factors like compensation, training and
promotion. The study can be helpful for the employers to design their human resource
strategies according to the changing socio-economic environment in the country
A study measuring the effect of pay, promotion and training on job satisfaction in pakistani service industry
Job satisfaction has long been an important and interesting area in organizational research.
More recently, considerable attention has been focused on the concept of job satisfaction
and factors that affect it. A major reason for the tremendous interest in this work attitude is
that it has been consistently found to be related to important employee behaviors, such as
turnover, absenteeism, and job performance. The objective of this study is to analyze the
effect of human resource practices such as pay, promotion and training on job satisfaction.
The sample of this study consisted of 150 employees of both private and public sector
service organizations in the vicinity of twin cities of Rawalpindi and Islamabad. A
questionnaire was used to gather data regarding above mentioned variables and
demographic characteristics of the respondents. Data then analyzed with the help of SPSS
using regression analysis and Independent Sample T Test. A positive and significant
relationship was found between job satisfaction and factors like compensation, training and
promotion. The study can be helpful for the employers to design their human resource
strategies according to the changing socio-economic environment in the country
Accounting Discretion, Loan Loss Provision in Financial Distress: Evidence from Commercial Banks
This study explores the association between earning management practices and financial distress in commercial banks. Earning management is measured through discretionary loan loss provisions and non-discretionary loan loss provisions. Modified Altman’s Z-score has been used as a proxy for financial distress. Panel regression with fixed and random effect has been employed for empirical analysis. The study finds a significant positive association between DLLP, NDLLP and financial distress in terms of the Altman Z-score. In the case of NDLLP, liquidity reduces the probability of financial distress. Whereas, a bank’s SIZE, LEVG and AQ enhance the likelihood of financial distress. The robustness tests were applied to find the association between NDLLP and FD using logistic regression to validate baseline estimates results of the random effect model. The findings of this study have implications for the policymakers, regulators and internal stakeholders to devise effective regulatory measures for well-informed investment decisions
Financial management practices and their impact on organizational performance
This study measures the relationship between organizational performance and financial management practices like capital structure decision, dividend policy, investment appraisal techniques, working capital management and financial performance assessment in Pakistani corporate sector. Sample of the study consisted of forty companies operating in Pakistan, related to different sectors and listed at Karachi Stock Exchange. The finance executives and financial analysts of the companies responded to questionnaire that identified through company profiles and references. The questionnaires were self administered to collect the data from respondents. The results show a positive and significant relationship between financial management practices and organizational performance in Pakistani corporate sector
Financial management practices and their impact on organizational performance
This study measures the relationship between organizational performance and financial management practices like capital structure decision, dividend policy, investment appraisal techniques, working capital management and financial performance assessment in Pakistani corporate sector. Sample of the study consisted of forty companies operating in Pakistan, related to different sectors and listed at Karachi Stock Exchange. The finance executives and financial analysts of the companies responded to questionnaire that identified through company profiles and references. The questionnaires were self administered to collect the data from respondents. The results show a positive and significant relationship between financial management practices and organizational performance in Pakistani corporate sector
Individual investors perception of dividends: Pakistan’s percpective
This research paper argue that there exists a strong preference for dividends among investors. The main purpose is to find the factors that lead individual investors to reveal their preference for either cash or stock dividends. The most important dividend theories are employed to test the behavior of Pakistani individual investors towards dividends. The results reveal strong evidence that individual investors in Pakistan want dividends either in the form of cash or stocks. They also have a strong preference for dividend even if a company has to pay it by borrowing