CAPITAL STRUCTURE DETERMINANTS OF ISLAMIC AND CONVENTIONAL BANKS OF PAKISTAN

Purpose- The major objective behind conducting this research is to explicate that how does the conventional as well as Islamic banks opt for their capital structures and what are the noteworthy variables that effect the decisions of the company as regard to their capital structure. Design/methodology/approach- Data for study was gathered throughthe yearly reports of the KSE indexed companies. The yearly reports from the years 2004-2014 were selected for the study. For analysis, ordinary least square (OLS) is applied in order to obtain the results. Findings- The primary outcomes of study prove that the conventional banks are more leveraged as compared to the Islamic banks. In addition, the conventional banks are bigger in size than Islamic banks and possess higher level of profitability. The fixed operating resources possessed by the Islamic banks are more in comparison to the conventional banks. The outcomes show that the profitability and tangibility are inversely associated with book leverage however the bank size has significant nexus with the book leverage of Islamic banks. On the other hand, profitability, growth and tangibility are negatively related to book leverage in whereas the bank size positivelyimpacts the decisions of the conventional banks for choosing the capital structure. Earning volatility shows no impact on capital structure decisions. Practical implications- The outcomes of the study present that the directors of bank need to develop an understanding related to the bank specific factors which would help them to decide regarding the capital structure of the bank taking into consideration that the controlling powers are vested with state bank of Pakistan. Originality/value- This study would propose that some noteworthy insights regarding the variables that impact financing decisions ofPakistani conventional and Islamic banks. This study also provides a framework to the future researchers for deeper exploration regarding capital structure of the banks.  Keywords- Conventional Banks; Islamic Banks, Ordinary Least Square, State bank of PakistanÂ

Corporate governance and cost of capital: evidence from Pakistani listed firms

This thesis investigates the effectiveness of Corporate Governance (CG) reforms in Pakistan. Using a sample of 160 Pakistani firms from 2003 to 2013 and governance data collected manually from the annual reports, this thesis investigates seven closely related and important corporate issues that are related to the compliance of governance rules. Specifically, it aims to : (i) investigate the degree of CG compliance with 2002 Pakistani Code of CG (PCCG); (ii) determine whether the introduction of 2002 PCCG has improved Pakistani CG practices; (iii) investigate the determinants of CG compliance and disclosure for Pakistani listed firms; (iv) test the nexus between CG compliance with the 2002 PCCG and firms’ cost of capital (COC); (v) investigate the impact of different individual CG mechanisms on listed firms COC; (vi) examine how different ownership structures impact on firms’ COC; and (vii) analyse relationship between CG structures and Cost of Equity (COE) as well as Cost of Debt (COD) for Pakistani listed firms. These empirical investigations report some important results. First, the reported findings suggest that Pakistani firms have responded positively to governance disclosure requirements over the eleven year period from 2003 to 2013. The results also show that the introduction of the PCCG in 2002 has improved CG standards by Pakistani listed firms. Second, the reported results related to the determinants of CG compliance demonstrate that significant and positive association between institutional, government and foreign ownership with CG compliance. However, findings relating to the determinants of CG compliance show a negative and significant association between board size and block ownership with CG compliance and disclosure. The study finds no significant relationship between director ownership, audit firm size and the presence of female board members with the constructed Pakistan Corporate Governance Index (PCGI). Third, the investigation on the relationship between CG and COC report a significantly negative nexus between PCGI and firms’ COC. The investigation on the association between ownership structures and COC report a negative and significant nexus between block ownership with firms’ COC. Further, a number of robustness analyses performed in this study suggest that the empirical results reported in this study are generally robust to the alternative CG variables, alternative COC variables and potential endogeneity problems

INVESTIGATING THE EFFECT OF PRODUCT PACKAGING CUES ON PRODUCT QUALITY PERCEPTION: DEVELOPING COUNTRY PERSPECTIVE

The study aims to investigate the effect of food packaging cues on the quality perceptions of the consumers. The data was collected from Pakistani consumer market through survey. The regions of Rawalpindi and Islamabad were selected for data collection by using self-administered questionnaires.  Mall intercept method was applied for collecting the responses and the malls were selected on the basis of popularity and high customer turn out. SPSS and PLS were used in order to carry out descriptive and inferential analysis respectively. The outcomes of the study indicate that both the image variables taken as predictors (Halal label, nutritional label) casts a worthwhile effect on perceptions of quality while consumer knowledge casted no moderating impact on the perceived product quality in Pakistani consumer market.Alike other studies, there are few research limitations to this study as well. Since the data has been collected from the regions of Rawalpindi and Islamabad only, an issue of generalizability can occur. The findings of the study reveal that cues presented on the packaging can cast a meaningful impression on the minds of consumers. The findings of the study also suggest that intelligent placement of the extrinsic cues by practitioners can help in the formation of positive quality perceptions which in turn lead to better sale outcomes. Since there are limited number of such studies in Pakistani context so it provides significant contribution to the literature as well.

Determining the impact of Job satisfaction and Organizational commitment on ITL among the Teachers of HEIs in the Developing countries

The commitment of HEI`s academicians is a core issue, widely discussed and analyzed in the contemporary world, digitally connected. The phenomenon of organizational commitment has acquired such an importance that the socio-economic researchers have to broaden the sphere of their research beyond the traditional findings. In this regard, the employee/teacher has to survive multi-dimensional problems during the pursuit of his/her professional career. The gist of this “Review Article” is not only to elaborate the traditional causes and implications of the OC regarding job satisfaction and ITL rather certain very specific and related issues have also been evaluated in the present work. Presently, in the academically charged environment, the main focus of the HEIs is to workout upon the remedial measures to make the status of the teacher job`s not only affordable but sustainable as well. From the socio-economic view, the phenomenon of OC and ITL both has a strong linkage with the job environment. How and why a teacher may survive in his /her institution, when the ITL can crop up, why the teacher is not satisfied from his/her job, under which circumstances the said teacher wants to switchover are the main heads of the present article. The main emphasis of this work commences from the reasons and implications of job dissatisfaction leading to ITL and thus hampering the commitment level. The review of the related literature provides the basis for the “theoretical framework” upon which the research model stands. This study examines the relationship of OC and job satisfaction as independent variable and the ITL as the dependent variable. Employee’s switchover incurs some very serious and lasting impact upon the social and financial credibility of the institution. Keywords: Organizational commitment, Job satisfaction, Intention to Leave, Academicians of HEI

Self-esteem: A Gender based analysis

Self-esteem refers to the amount of realistic respect that you have for yourself. It is important for a person to have an elated profile in order to lead a contented and successful life, both at the personal and professional level. People with low self-esteems often suffer from a feeling of discontentment. A person with a high profile has the realization that he/she can make achievements and can lead a successful life. On the other hand, a person with low profile possesses low desiring level with minimum achievements. In this study the topic is categorically elaborated especially that how male and female consider their self-esteem accordingly. The data was collected from the both genders; all of them were students of MBA and MPA department, Gomal University, Dera Ismail Khan. To fulfill the purpose, the independent variables were utilized to reach the conclusion. Keywords: Gender, Self-esteem, MBA`s, Gomal University, Dera Ismail Kha

Mobile Banking Service Quality and Customer Satisfaction: An Application of Carter Model

Purpose: Mobile banking is one of the modern means of handy banking services. Using the Carter model, this study aims to find the nexus between customer satisfaction and mobile banking service quality among Pakistani users. Design/methodology/approach: The structured questionnaire has been administered to 400 mobile banking users in Rawalpindi, Islamabad and Wah Cantt. Simple random sampling was used to gather the respondents for data collection.Findings: The analysis shows that there exists a positive association between the dimensions of assurance, tangibility as well as responsiveness with customer satisfaction. However, there exists no relationship between empathy and reliability with customer satisfaction.Implications: This study fills up the gap in literature by providing insights from mobile banking sector of Pakistan. Furthermore, the model of the study can be extended in different contexts with other dimensions also. It will be better if banks develop their e banking services up to date by adapting to the latest changes in industry and technology.Originality/value: This particular study has a deep importance as it provides evidence from the developing nation of Pakistan. It has spread heading endeavour to explore the consumer loyalty in the keeping money industry of Pakistan by utilizing a vast example and progress measurable systems.Limitations/Future horizons: The study has been conducted in the area of Rawalpindi and Islamabad however future researchers may expand the premises as well as add more variables to the model to gain deeper insights

INVESTIGATING THE EFFECT OF PRODUCT PACKAGING CUES ON PRODUCT QUALITY PERCEPTION: DEVELOPING COUNTRY PERSPECTIVE

The study aims to investigate the effect of food packaging cues on the quality perceptions of the consumers. The data was collected from Pakistani consumer market through survey. The regions of Rawalpindi and Islamabad were selected for data collection by using self-administered questionnaires.  Mall intercept method was applied for collecting the responses and the malls were selected on the basis of popularity and high customer turn out. SPSS and PLS were used in order to carry out descriptive and inferential analysis respectively. The outcomes of the study indicate that both the image variables taken as predictors (Halal label, nutritional label) casts a worthwhile effect on perceptions of quality while consumer knowledge casted no moderating impact on the perceived product quality in Pakistani consumer market.Alike other studies, there are few research limitations to this study as well. Since the data has been collected from the regions of Rawalpindi and Islamabad only, an issue of generalizability can occur. The findings of the study reveal that cues presented on the packaging can cast a meaningful impression on the minds of consumers. The findings of the study also suggest that intelligent placement of the extrinsic cues by practitioners can help in the formation of positive quality perceptions which in turn lead to better sale outcomes. Since there are limited number of such studies in Pakistani context so it provides significant contribution to the literature as well.Â

IMPACT OF MICROFINANCE ON POVERTY: EVIDENCE FROM RURAL PAKISTAN

This study aims at finding out the socio-economic impact of micro finance services, offered by MFIs, in one of the poorest districts of Pakistan. A sample of 344 respondents has been selected for this purpose. The study takes children's nutrition and education expenditures, savings of clients and investment of loan as explained variables. Our findings show that microfinance services have myriad influences on subsistence of the poor. Though respondents have concerns over the performance of MFIs, the overall impact goes in concord with results of previous studies. This study validates the relationship between microfinance and poverty alleviation

IMPACT OF MICROFINANCE ON POVERTY: EVIDENCE FROM RURAL PAKISTAN

This study aims at finding out the socio-economic impact of micro finance services, offered by MFIs, in one of the poorest districts of Pakistan. A sample of 344 respondents has been selected for this purpose. The study takes children's nutrition and education expenditures, savings of clients and investment of loan as explained variables. Our findings show that microfinance services have myriad influences on subsistence of the poor. Though respondents have concerns over the performance of MFIs, the overall impact goes in concord with results of previous studies. This study validates the relationship between microfinance and poverty alleviation

The impact of Demography on Intention to Leave among the Academicians in the Public and Private sector`s Universities of Khyber Pakhtunkhwa, Pakistan

The personal characteristics of an employee regarding his/her age, qualification, gender, marital status, length of service and designation is highly related to the profession he/she is pursuing. His/her job status is greatly affected positively or otherwise by the parameters mentioned above. The present study is focused upon the personal traits of an employee and its implications which may emerge in the kind of intentions further which can compel the employee to stay or leave the institution. As a prerequisite, the data was collected from 100 academicians from both public and private universities. The same data was thereby analyzed by utilizing the prescribed tools of regression and test of significance. The diversity of the result is significant enough as the demography of an employee is strongly bracketed in some respects and in certain others the professional career of the same employee is not affected