Islamic Versus Conventional Mutual Funds Performance in Pakistan; Comparative Analysis Through Performance Measures and DEA Approach

Islamic mutual funds are different from conventional mutual funds because both have different characteristics. Islamic mutual funds act upon the Shariah guidelines and rules. This study investigates the performance of Islamic and conventional mutual funds for the period of 8 years from January 01, 2010 to December 2017. For the purpose of analysis 30 Islamic mutual funds and 30 conventional mutual funds are selected as sample of the study. Study evaluates the performance of Islamic and conventional mutual funds based on different ratios like Sharpe ratio, Treynor ratio and Jensen Alphen along with data envelopment analysis technique. Sharpe and Teynor ratios of Islamic mutual funds are higher than the conventional mutual funds which shows the better performance of Islamic mutual fund as compared to conventional mutual funds. Whereas the results of Jenson Alpha showed opposing results with Treynor and Sharpe ratios in which the value of Jenson Alpha of Islamic mutual fund is lower than conventional mutual funds. Results of data envelopment analysis showed higher efficiency of Islamic mutual funds as compared to conventional mutual funds. Ultimately, it is concluded that financial performance of Islamic mutual funds is superior as compared to conventional mutual funds in Pakistani mutual fund market for the period of 2010 to 2017

Islamic Versus Conventional Mutual Funds Performance in Pakistan; Comparative Analysis Through Performance Measures and DEA Approach

Islamic mutual funds are different from conventional mutual funds because both have different characteristics. Islamic mutual funds act upon the Shariah guidelines and rules. This study investigates the performance of Islamic and conventional mutual funds for the period of 8 years from January 01, 2010 to December 2017. For the purpose of analysis 30 Islamic mutual funds and 30 conventional mutual funds are selected as sample of the study. Study evaluates the performance of Islamic and conventional mutual funds based on different ratios like Sharpe ratio, Treynor ratio and Jensen Alphen along with data envelopment analysis technique. Sharpe and Teynor ratios of Islamic mutual funds are higher than the conventional mutual funds which shows the better performance of Islamic mutual fund as compared to conventional mutual funds. Whereas the results of Jenson Alpha showed opposing results with Treynor and Sharpe ratios in which the value of Jenson Alpha of Islamic mutual fund is lower than conventional mutual funds. Results of data envelopment analysis showed higher efficiency of Islamic mutual funds as compared to conventional mutual funds. Ultimately, it is concluded that financial performance of Islamic mutual funds is superior as compared to conventional mutual funds in Pakistani mutual fund market for the period of 2010 to 2017

An Investigation of the Relationship between Thematic Thinking and Innovative Work Behavior among Managers: The Mediating Role of Open-mindedness

There exists empirical evidence that thematic thinking through the mediation of innovativeness impacts employee performance. We, in an explorative manner, went further to understand the underlying mechanism which promotes innovative work-related behavior. We collected data from individuals at R&D assignments of various organizations where new ideas and products are developed. A total of 295 survey forms were collected, and the analysis was done using the PROCESS Macro for SPSS in order to test the mediation model. The results revealed that thematic thinking was positively linked to open-mindedness and innovative work behavior; also open-mindedness mediated the relationship between thematic thinking and innovative work behavior. This study has explored, tested, and empirically proved a novel relation in the local context of R&D related individuals (managers) working in diverse fields. The current research extends thematic thinking in the domain of cognition, innovation, and workplace behavior. It concludes that managerial decision making is elemental in performing innovatively. Practical and managerial implications, limitations, and future research directions are discussed to enrich the domain of thematic similarity further

Mimetic Representation of Female Characters in ‘Their Language of Love’ by Bapsi Sidhwa

Females always have been the topic of discussion under different aspects discussed in literature. From some last decades there have been some debatable titles in writing especially postcolonial literature. There are many female writers in this period of postcolonial. In Pakistan, the persons who have a name on the conversation of feminism; Bapsi Sidwa is a good name in them. Feminism is a broad topic to mentioning but it would be interested when telling about particular comparative analysis with the male author representing the society. It is very perceptible when the relation between them is like a master-slave relationship as Hegel believes, or having a balance between them. It depends upon many factors like the cultural effect of the society. Pakistani society has a patriarchal building block in it so its criteria of debate and the way the others take it, are different. This study helps to enhance the space for a female in a society described by Bapsi Sidwa.  Life depends on the thought of society and it varies the representative style of the authors. Key Words: Feminism, Societal effect, Relationships, Memetic representation DOI: 10.7176/JLLL/66-10 Publication date:March 31st 202

An Investigation of the Relationship between Thematic Thinking and Innovative Work Behavior among Managers: The Mediating Role of Open-mindedness

There exists empirical evidence that thematic thinking through the mediation of innovativeness impacts employee performance. We, in an explorative manner, went further to understand the underlying mechanism which promotes innovative work-related behavior. We collected data from individuals at R&D assignments of various organizations where new ideas and products are developed. A total of 295 survey forms were collected, and the analysis was done using the PROCESS Macro for SPSS in order to test the mediation model. The results revealed that thematic thinking was positively linked to open-mindedness and innovative work behavior; also open-mindedness mediated the relationship between thematic thinking and innovative work behavior. This study has explored, tested, and empirically proved a novel relation in the local context of R&D related individuals (managers) working in diverse fields. The current research extends thematic thinking in the domain of cognition, innovation, and workplace behavior. It concludes that managerial decision making is elemental in performing innovatively. Practical and managerial implications, limitations, and future research directions are discussed to enrich the domain of thematic similarity further

Screening for drought tolerance: comparison of maize hybrids under water deficit condition

Background: Maize is an important cereal crop, grown throughout the globe for human food and livestock feed, but biotic and abiotic factors had shown adverse effects on biomass and grain yield. Changing climatic conditions have imposed drought (water scarcity) as a major problem to combat with yield losses and biomass in maize and other cereals. Methods: The prescribed study was conducted to evaluate F1 hybrids at seedling subject to 45% moisture level. The data was recorded and subjected to multivariate analysis to find the significant variation attributed by various traits under stress conditions for efficient root/shoot development.Results: Significant differences were found in F1 hybrids for all studied traits. Higher heritability was found for root length, shoot length and fresh shoot weight, while fresh shoot weight, dry shoot weight and dry root weight showed higher genetic advance. Significant correlation was found for dry root weight to fresh shoot length and fresh root length, fresh root weight to fresh root/shoot weight ratio and fresh shoot weight. The hybrids Sh-139×B-316, Raka-poshi×B-316, B-327×B-316, Sh-139×EV-340, EV-1097Q×EV-347, EV-1097Q×EV-340, EV-1097Q×Pop/209 and B-327×EV-340 showed higher and positive heterosis and heterobeltiosis for most of the studied traits. To assess the overall variation on dependent structure, we used multivariate analysis, an important tool in breeding program, for efficient selection.Conclusions: EV-1097Q×Pop/209 and Sh-139×EV-340 showed significant results for root and shoot development under various water stress regimes at seedling stage, thus further studies should be carried out to find out the known and un-known loci regarding root and shoot development traits in high yielding maize cultivars under arid/semi-arid regions

Factors Effecting Investment Decision Making Behavior: The Mediating Role of Information Searches

This study investigates the factors effecting the investment decision making behavior through the mediation role of information searches. Two factors i.e. overconfidence bias and economic expectations are used as independent variables while investment decision making behavior is taken as dependent variable. Information search is used as mediating variable. For this purpose, a survey questionnaire was used to test the hypotheses. The population in this survey was investors of Lahore Stock Exchange of Pakistan and Faisalabad Trading Floor. Total 270 questionnaires were distributed; only 245 of them were received back 11 were not included in the analyses as they were incomplete. Hence, 229 questionnaires were used in the analyses. Simple and multiple regression analysis were used as statistical tool. The results showed positive and significant relationship between economic expectations and investment decision making behavior but when information search was included as mediator the relationship became insignificant and negative; which suggests full mediation in case of economic expectations. Overconfidence bias was also found to have positive and significant relationship with investment decision making behavior which remained significant when information search was added as mediator; suggesting a partial mediation in case of overconfidence

Factors Effecting Investment Decision Making Behavior: The Mediating Role of Information Searches

This study investigates the factors effecting the investment decision making behavior through the mediation role of information searches. Two factors i.e. overconfidence bias and economic expectations are used as independent variables while investment decision making behavior is taken as dependent variable. Information search is used as mediating variable. For this purpose, a survey questionnaire was used to test the hypotheses. The population in this survey was investors of Lahore Stock Exchange of Pakistan and Faisalabad Trading Floor. Total 270 questionnaires were distributed; only 245 of them were received back 11 were not included in the analyses as they were incomplete. Hence, 229 questionnaires were used in the analyses. Simple and multiple regression analysis were used as statistical tool. The results showed positive and significant relationship between economic expectations and investment decision making behavior but when information search was included as mediator the relationship became insignificant and negative; which suggests full mediation in case of economic expectations. Overconfidence bias was also found to have positive and significant relationship with investment decision making behavior which remained significant when information search was added as mediator; suggesting a partial mediation in case of overconfidence

Line × Tester analysis for morpho-physiological traits of Zea mays L seedlings

Background:  Zea mays L. is one of the most imperative cereal crop in world after wheat and rice. It is a used as food for human and feed for livestock. To meet the ever increasing demand, maize production can be increased by application of improved agronomic techniques to get varieties with higher qualitative and quantitative traits and resilience to abiotic stresses.Methods: The genetic material was comprised of 8 parents and 12 F1 hybrids. The genotypes were sown in the iron treys filled with sand in three replications following completely randomized design. The data was recorded for fresh root length (FRL), fresh shoot length (FSL), fresh root-to-shoot length ratio (FRSLR), fresh root weight (FRW), fresh shoot weight (FSW), total fresh weight (TFW), fresh root-to-shoot weight ratio (FRSWR), dry root weight (DRW), dry shoot weight (DSW) and total dry weight (TDW), dry root-to-shoot weight ratio (DRSWR), chlorophyll contents (Ch.C), leaf temperature (LT), transpiration rate (E), photosynthetic rate (A), stomata conductance (gs), water use efficiency (WUS) and sub-stomata CO2 concentration (Ci). GCA (general combining ability) and SCA (specific combining ability) were calculated by using Kepmthorn, (1957) technique.  Results: Higher GCA of B-336 variety was recorded for FRL, FRW, FSW, TFW, A and Ci. Higher SCA of EV-1097Q × Pop/209, Sh-139 × Pop/209, EV-1097Q × B-316 and Sh-139 × B-316 varieties was recorded for FRL, FSL, FRW, FSW, TFW, A, Ci, WUE, LT, E and gs.Conclusion: Higher heritability, genetic advance, GCA and SCA had decisive role in selection of drought tolerant maize varieties. F1 hybrids EV-1097Q × Pop/209, Sh-139 × Pop/209, EV-1097Q × B-316 and Sh-139 × B-316 showed higher SCA for all traits that persuaded that these hybrids may be used for higher grain and fodder yield under drought conditions.