Islamic Beliefs in Compulsory Islamic Studies (Islamiyat) and Cognitive Development: an investigation

Research Article

Islamic Studies or Islamiyat is offered as compulsory subject following the recommendation of Objectives resolution 1949, and constitution of 1973 of Islamic Republic of Pakistan. Therefore, all successive governments of Islamic Republic of Pakistan took measures to introduce Islamic learning programs and courses in academics. Apart from other measures of introducing Islam both as a religion and as a way of life, in academia, the teaching of Islamiyat was made compulsory at all three tiers of education aligned with the educational policies 1959, 1972, 1978, 1992, 1998, and 2009. The current study is focused on analyzing the topics of Islamic [...]

An Analysis of Achievement in Science, Piagetian Conceptual Frameworks and Attitude towards Learning Science among Elementary and Secondary School Children in Pakistan

Research Article

This study analyzed the 8th and 10th graders' attitude towards learning science (ATLS), required cognitive skills for science examination questions (SEQ), and patterns of actual cognitive skills (ACS), in accordance with the Revised Bloom's Taxonomy (RBT) and the Piagetian Conceptual Frameworks (PCFs). The sample of the study consisted of 564 (boys and girls) 8th and 10th graders of government elementary and high schools in Sindh province of Pakistan. The RBT applied to break down the 8th graders General Science examination questions in terms of Piagetian conceptual frameworks. A Cognitive Science Achievement Test (CSAT) based on the RBT administered to measure [...]

School Council Policy in Punjab: Policy Formulation without Participation of Stakeholders

Research Article

Quality and equitable access to education largely remain mere aspirations for the populace. Despite the earnest efforts and commitment on the part of Government of the Punjab as well as support of international educational organizations, the goals continue to elude all efforts. This research has been conducted with the assumption that involvement of community in the major stages of policy-making in Pakistan is minimal. The study has highlighted the lack of effective community participation both at policy formulation and implementation stages in the Punjab Province. It has attempted to point out the irritants that discourage community participation. The researcher seeks [...]

ESL Learners' Writing Skills: Problems, Factors and Suggestions

Research Article

Writing is an important skill for language production. However, it is considered a difficult skill, particularly in English as a second language (ESL) contexts where students face many challenges in writing. Therefore, the present study was conducted with an aim to investigate problems in Pakistani undergraduate ESL learners' writing and factors that hinder their writing skills. It also aimed at obtaining suggestions on how to improve Pakistani ESL learners' writing skills. For this purpose, focus groups of Pakistani English language teachers'and undergraduate ESL learners were conducted. Writing samples were also collected from 30 ESL undergraduate learners to find the major [...]

Teachers' Intention towards the Usage of Technology: An Investigation Using UTAUT Model

Research Article

The purpose of this study is to explore the vital factors that influence teacher’s intention to use technology in higher education. PLS-SEM has been used to analyze the data collected from 201 business university teachers. The study strives to examine the impact of eight variables i.e. Performance expectancy, Effort Expectancy, Social influence, facilitating conditions, individual self-efficacy, human assisted self-efficacy, Computer Anxiety and attitude on teacher’s intention to use technology using the technology acceptance model of Unified Theory of Acceptance and Usage of Technology. The empirical findings revealed that the social influence, facilitating conditions, individual self- efficacy and attitude have [...]

Empirical Assessment of the Constructs: Workplace Engagement, Job Burnout and Turnover Intention

Research Article

There is a growing interest found in the study of workplace engagement and it has become a buzzword in the recent years. It is considered HRM's new best friend which is characterized by vigor, dedication, and absorption. However, its paucity results in job burnout which is characterized by exhaustion, depersonalization and a diminished sense of professional accomplishment. Job burnout usually takes place due to erosion of engagement. Moreover, if the burnout issue remains unaddressed, it will ultimately lead the employees to quit and will make creating a congenial working environment an even bigger a challenge for today's managers. The objectives [...]

The level of Financial Literacy in Pakistan

Research Article

This study examines the level of financial literacy in Pakistan. Financial literacy (or financial knowledge) is characteristically an input to assess the requirement for financial education and explain changes in financial outcomes. The study reveals that the individuals, who have the more financial knowledge, usually save more. It is inevitable for investors and the general public that they possess sufficient knowledge and awareness about how financial institutions and markets work; types of risks and expected return, that subsequently is fruitful for the growth of the economy. The results show that 1) middle-aged and older people are careful in spending their [...]

A Study of Solid Waste Management in Karachi City

Research Article

There is a growing problem of waste management faced by developing countries. Karachi is the biggest city of Pakistan having a population of approximately 24 million. Statistics indicate that on a daily basis, about 12,000 tons of solid waste is generated in Karachi alone, of which forty percent can be found on the city streets. Improper management of solid waste is causing the spread of infectious diseases and environmental pollution. This study examines how the solid waste management process is implemented in Karachi and the challenges faced by the responsible authorities. Solid waste management combines all activities performed in [...]

English Language Teachers' Code-switching in Class: ESL Learners' Perceptions

Research Article

Code-Switching is generally defined as a shift from one language to another by the speaker during the speech. It is a common linguistic phenomenon in Pakistani classrooms. It is considered to have both positive and negative impact. This exploratory study investigated the perceptions of Pakistani students towards teachers' code-switching during English lectures at tertiary level. Students have different attitudes towards code-switching of teachers in classroom. There is a need to investigate whether it is beneficial or malevolent to switch between two codes in an English classroom and how the students view this alternation between codes. The researchers employed 5-point Likert [...]

Machiavellianism and Counterproductive Behaviors at Workplace

Research Article

The purpose of this research is to study the preference towards getting involved in counterproductive behaviors at workplace in relation to the Machiavellianism personality attribute. One hundred and seventy six executive men/women working at supervisory/managerial level having a minimum of three years working experience were selected randomly. The tests administered were: Mach IV Scale and Counterproductive Work Behavior Checklist along with demographic sheet. Individuals who have reported high scores on Machiavellianism were found to be positively correlated with a preference for counterproductive work behaviors. Correlation values are found significant at 0.01 level. The data analysis of sub-scales of Counterproductive [...]

Education in Pakistan: Perspective, Failures and Prospects

Essay

The basic assumption of this paper is that education, though the most enduring strand of the social fabric, must for clarity of understanding, be seen in the relevant political and economic contextual framework. The political and economic life in a country fosters and sustains education, but these forces are far too strong in impact and can very well work at cross purposes. The story of education in Pakistan that unfolded itself in a span of sixty years had its genesis in India and was a branching out from the same system which came as a legacy from the British. In [...]

Impact of HR Policies on Employee Motivation in Private Schools of Karachi, Pakistan

Research Article

This study investigated the influence of HR policies and practices on the motivation of employees in private schools. Relevant information was gathered from school teachers in Karachi through a questionnaire while the sample size includes 512 responses. The statistical tool applied in this study was partial least square structural equation model (PLS- SEM). Findings showed that compensation, employee empowerment, fair job appraisal, employee recognition and job satisfaction have a positive and significant relationship with the employee motivation concluding that these factors of HR policies motivate employees. This study provided management with the ways to incorporate strategies in order to motivate [...]

Starting an English Writing Center in a Private University

Research Article

Writing centers have long been identified as a supplementary component in process based writing skill development. While writing centers are a common constituent at higher education institutes in the developed world, these facilities are rarely available within the developing academic contexts. This paper revolves around the introduction of writing center facilities at a graduate business school in Pakistan. The study is framed as action research with phases of implementation followed by a feedback mechanism leading to the next phase. Feedback was collected with the help of observation and semi structured interviews conducted with instructors, tutors, as well as writing center [...]

Trust in Internet Banking in Malaysia and the Moderating Influence of Perceived Effectiveness of Biometrics Technology on Perceived Privacy and Security

Research Article

Internet banking is gaining popularity in Malaysia due to its convenience which is achieved by unique business interactions between banking institutions and customers via websites and mobile applications. However, the incredible escalation of internet fraud cases has caused increased privacy and security risks for internet banking customers. Based on a review of literature, this paper developed a research framework to gauge the impact of customer perception about the effectiveness of biometrics technology on perceived privacy and security and its influence on trust and intention to continue internet banking. In light of the growing viability of biometrics technology as a solution [...]

GSP Plus Status and Income Distribution: A CGE Model for Pakistan

Research Article

The purpose of the study is to investigate the impact of the Generalised System of Preferences (GSP) plus on a household income of Pakistan. The European Union, the largest trading partner of Pakistan, granted the status of GSP plus to Pakistan in December 2013. The study has used MyGTAP, developed by \citeA{minor2013mygtap} to calculate the impact at household level. This MyGTAP model uses the data of the latest available Social Accounting Matrix (SAM) to make changes in the standard GTAP by including multiple types of household and labor. The main findings of the simulations, run under MyGTAP model show a [...]

RETRACTED ARTICLE: Linkage between international trade, financial development and economic growth in Saudi Arabia: An application of the combined cointegration approach

Research Article

This article has been retracted : ........... The purpose of this study is to analyze the linkage between economic growth, financial development, and international trade for Saudi Arabia over the period of 1968-2015. The integration order among the series was analyzed by using structural break unit root tests. The long-run relationship was examined by using the ARDL bounds testing approach. The robustness of the ARDL bounds testing approach was confirmed by using the Bayer-Hanck combined cointegration method. The results confirm the long-run relationship among the variables. International trade appears to be the driver of economic growth, while financial development affects economic [...]

Uncertainty and Risk Analysis of Pakistan's Regional Trade: Fan Chart Approach

Research Article

Economic forecasting, both specific and general, is a crucial part of economic planning for a country. It is required to effectively deal with uncertainity as well as possible negative impact of proposed policies in future. Therefore, correct predictions will improve the effectiveness of the decision-making process. This study is a pioneering attempt to forecast aggregate and regional trade of Pakistan by using annual time series data from 1974 to 2014. With the help of fan chart, aggregate and regional trade of Pakistan have been forecast from 2015 to 2020. Fan chart provides ranges of forecast at different levels of significance [...]

Impact of Individual Feelings of Energy on Creative Work Involvement: A Mediating Role of Leader-Member Exchange

Research Article

Individual feelings of energy (IFE), creative work involvement (CWI) and leader-member exchange (LMX) are understudied areas in Pakistan. The purposes of this study are: a) to analyze the mediating role of LMX on the relationship between IFE and CWI; and b) to evaluate whether the LMX relationship mediates differently for non-managerial staff, supervisors, middle and senior managers. A sample of 300 responses is drawn from the manufacturing companies of Karachi using a questionnaire administered to them. Exploratory factor analysis is used to extract three orthogonal constructs (namely, IFE, CWI, and LMX) and their convergent and discriminant validity are established through [...]

Co-integration of Sukuk and Bond Yields - Evidence from Globally Placed Sukuk

Research Article

The study addresses the question ``How do the financial markets perceive and price internationally issued Islamic bonds?'' It is examined by empirically testing for the evidence of co-integration of sukuk yields with the US Treasury yields using Vector Error Correction (VEC) models. Our results indicate that the sukuk yields are highly co-integrated with the US Treasury yields in long-term relationships. The short-term dynamics of the sukuk yields with the interest rate series is, however, complex showing bi-directional influences. We infer that the international financial markets are viewing and pricing sukuk in a manner similar to that for the conventional [...]

Does International Financial Integration Spur Economic Growth? Evidence from Pakistan

Research Article

The degree of international financial integration has seen a drastic change recently, especially during the last two decades. This study attempts to explore the relationship between international financial integration and economic growth in the context of Pakistan through a sample of data from 1975 to 2013 using time series analysis. International financial integration is used as an index that comprises foreign direct investment, remittances, and external debts. The results indicate that international financial integration has a significant and negative effect on economic growth. Cointegration results have found a significant and long run relationship, whereas variance decomposition method shows bidirectional causal [...]

The Reliability of Alliances on Korean Peninsula in Post-Cold War Period: Democracies vs. Non-democracies

Research Article

Alliance building has been an important feature of international relations in all the interna- tional systems. During Cold War in international system alliances were formed on ideological basis. Some of them came to an end in post-Cold War, while others exist even today. The US-ROK alliance and PRC- DPRK alliance can be taken as good examples of these alliances. Although these alliances were formed to balance each other, yet the commitments are dependent upon the form of government in each of the ally state, in the wake of post cold war. This article examines the alliance formation through theoretical prism [...]

The Writing Needs of Business Students: A Teacher's Perception in an EFL Context

Research Article

The proficiency in writing skills is the most basic and important skill to achieve success in academics. Therefore, not only to ace the exams but also to perform better the students need to develop and improve their writing skills, especially in an EFL environment. Here the perception of teachers regarding the writing needs of business students’ matter a lot, as they design their course and teaching materials according to the specific writing needs of the students. Hence, to improve the writing skills of students, it is imperative to determine their writing needs and then employ various strategies, which cater to [...]

Syntactic Errors in Pakistani Undergraduate Students' Written English

Research Article

This paper investigated the syntactic errors prevalent in Pakistani undergraduate students’ written English. It also sought to outline the possible causes of these errors. The study employed content analysis by basing it on Corder’s error analysis methodology to accomplish the research objectives. The study was conducted at a renowned private university. Participants for the study were those BS first year students who had obtained their higher secondary school certificate from Karachi Intermediate Examinations Board. The writing samples of eighty eight o students from this group were obtained. The corpus was then analyzed to discover the syntactic errors, and determine their [...]

Should We Use JCR Impact Factor or We Can Have Our Own Relative Importance Metrics?

Editorial

Higher Education Commission (HEC) of Pakistan has been endeavoring to raise the quality of research in Pakistan and they have selected research journals as a tool to enhance research capabilities. Every year a team of HEC's eminent scholars evaluate and approve list of research journals which meet the HEC criteria for recognition. One criterion for the evaluation of journal is bibliometric indicators. Though different bibliometric indicators are available but HEC uses Institute for Scientific Information (ISI)Impact Factor, to evaluate Higher Education Institute (HEI), scientific research, entire journals, and individual articles.

Understanding the ISI Impact Factor and the [...]

High Performance Management Practices and Sustainability of SMEs. Evidence from Manufacturing and Services-based Industries in Pakistan

Research Article

Prior research on high performance management practices (HPMP) has primarily examined the relationship between HPMP and firm performance in the context of large organisations. However, this study examines the relationship between HPMP and Sustainability outcomes (firm performance) in small and medium-size enterprises (SMEs) and also within a specific cultural background which is under researched. This research study is related to both theory and practice. The main relevance lies in analyzing the relationship between HPMP and sustainability outcomes in SMEs. This research study relates to theory by applying the resource-based view and configurational approaches used in this study. The study employed [...]

Indirect Impact of Hedonic Consumption and Emotions on Impulse Purchase Behavior: A Double Mediation Model

Research Article

Impulse purchasing is a universal yet seldom discussed phenomenon. This research study was oriented with the objective to identify the double-mediated relationship between impulse purchasing behavior and fashion orientation through hedonic consumption and emotions. To achieve this objective, survey research method was deployed and data had been collected from 231 general fashion consumers of Karachi. Process macro developed by Hayes (2012) was used as a statistical tool in order to study the relationship between the studied variable. The results suggest that hedonic consumption and positive emotions fully mediates the relationship between fashion orientation and impulse purchasing. The implications portrayed that [...]

The Governance and Management of Child Care Centres

Research Article

This study explores the management and governance interaction in a child care setting. Globally the importance of women in the workforce and the education of young children has shone the spotlight on child care. Most child care research focuses on the education of the child. However, the management and governance of the centres can influence the staffing, resources and culture of the centre, which in turn can affect the care of the children. Further, limited government funding in the sector also heightens the need to understand the impact of management and governance. The findings, from a participant-observer research approach, highlight [...]

Developing Normative Commitment as a Consequence of Receiving Help - The Moderated Mediating Roles of Team-Member Exchange and Individualism/Collectivism: A Multi-level Model

Research Article

With increased market competition, organizations have devoted much effort to retaining talented employees. As a consequence, a considerable amount of research attention has been paid to investigating an employee's willingness to remain within a particular working environment through the lens of the three-dimensional organizational commitment framework (i.e. affective, continuance, and normative commitment). Unfortunately, little is known about factors contributing to the formation of employee normative commitment. Thus, we seek to develop a theoretical model describing how employees' normative commitment may be affected by receipt of helping behavior, the norm of reciprocity, team-member exchange, and individualism/collectivism. In particular, we propose [...]

Navigating Cyclicality of Fiscal Policy in Vietnam: An Empirical Investigation

Research Article

While fiscal policy has been operated counter-cyclically in most of the developed countries (DCs), the reverse trend has been found in most of the low income developing countries (LDCs). This conclusion has been drawn in the literature during the past decades based on the correlation between fiscal and business cycle indicators. This phenomenon of LDCs is more pronounced during recessions due to the limitations in the credit markets as well as other social political distortions. This paper is the first effort to introduce an empirical investigation on the cyclical behavior of fiscal instruments in Vietnam using Autoregressive Distributed Lag (ARDL) [...]

Teachers' Perceptions Regarding the Factors Affecting English Essay Writing of O'level Students

Research Article

The aim of this empirical study is to explore O level English language teachers’ perceptions regarding teaching practices and methods used in teaching English essay writing. The population of study comprised O Level English language teachers (N=131) schools of Karachi. Through simple random sampling technique, data were collected from (n=58) participant schools which forms approximately 44% of the targeted population. Total sample size was n=73 (n=22 male and n=51 female) teachers. To carry out the cross sectional survey of the chosen sample, two instruments i.e., Factors Affecting English Essay Writing for Teachers (FAEWT) and teachers’ structured interviews were developed [...]

Feminist Assumptions and False Promises of Peace: A case study of India and Pakistan

Research Article

Current paper elucidates about War and peace the two basic elements of international politics. Starting with the debates among scholars of the subject, the paper argue critically the shortcomings of feminist school of thought over their assumption of peace and prevention of war through gendered politics. The theme of the paper is that, the gender either feminity in particular or masculinity in general have no impact on politics, both the domestic and international one. The international politics is driven by the national interest and regulatory force is beyond gender’s control. This argument is applied and testified in two south Asian [...]

Principals' Leadership and Human Resource Development in Schools of Pakistan: An Exploratory Study

Research Article

This study strives to explore a Private Schools’ System (PSS) leadership beliefs and practices in foregrounding human resource development in the fields of professional development and performance management at its six dimensions of the human, the professional,the organizational, the political, the moral and the managerial in schools. The study begins by providing a multi-disciplinary review of school leadership and human resource development, based on a framework for understanding how school leadership can help organizations accomplish their goals. Using a quantitative study paradigm, the paper aims to provide a detailed description of the beliefs and practices of leadership personnel in [...]

The Editorial Team of Journal of Management Sciences

Editorial

It is an immense pleasure and honour for us to announce that the Journal of Management Sciences (JMS) has been added to Institute for Scientific Information (ISI) Master Journal List with indexing in Emerging Source Citation Index (ESCI). This makes JMS, the only research journal of Pakistani Business School (IQRA University) available on the Web of Science. Our next aim is to take JMS to ISI Social Science Citation Index (SSCI) and later to Journal Citation Record (JCR) with a good ISI impact Factor. As editors we also value the feedback which shows that both authors and reviewers are pleased with the way the journal [...]

Dynamic Relationship between Urbanization, Energy Consumption and Environmental Degradation in Pakistan: Evidence from Structure Break Testing

Research Article

This study investigates the Carbon dioxide emission-urbanization-growth nexus in Pakistan by taking time series data from the period of 1972 to 2013. The study applied three approaches of co-integration (ARDL bounds test, Johansen and Juselius and Gregory and Hansen structural break test) to confirm the valid long-run positive interaction between carbon dioxide emission and urbanization. The robustness of cointegrating vectors are further checked using FMOLS and DOLS tests and the results validate the long-run coefficients. The results of VDM exhibit the uni-directional causality between carbon dioxide emission and urbanization running from urbanization to carbon dioxide emission. It was therefore noted [...]

Comparison of Islamic Banks with Conventional Banks: Evidence from an Emerging Market

Research Article

This paper evaluates and compares the performance of Sharia-compliant banks with their conventional counterparts operating in Pakistan. Data of five full-fledged Islamic Banks(IBs) and fifteen Conventional Banks (CBs), all from Pakistan, have been used for the study. Study period comprises of six years from year 2008 to year 2013. Bank's orientation, efficiency, quality of assets and stability are the measures used to compare the performance of Shariah-compliant and conventional banks. The Islamic Banks in Pakistan are younger in age and smaller in size compared to the Conventional Banks. Based on the financial ratios of two types of banks, we find [...]

Disaggregated Energy Consumption and Sectoral Outputs in Thailand: ARDL Bound Testing Approach

Research Article

From an economic perspective, energy-output relationship studies have become increasingly popular in recent times, partly fuelled by a need to understand the effect of energy on production outputs rather than overall GDP. This study dealt with disaggregated energy consumption and outputs of some major economic sectors in Thailand. ARDL bound testing approach was employed to examine the co-integration relationship. The Granger causality test of the aforementioned ARDL framework was done to investigate the corresponding causality effect. Results showed that, from year 1980 to 2010, productivity of most scrutinized industries was highly reliant on crude oil and natural gas. However, coal [...]

Electricity Generation and Its Impact on Real GDP and RealExports of Pakistan: A Co-integration Analysis

Research Article

The objective of the study is to present the influence of Electricity Generation on Real GDP and Real Exports of Pakistan using time series data from 1972 to 2014. The results of Johansen Co-integration test revealed that Electricity Generation, Employed Labour Force, Gross Fixed Capital Formation and Terms of Trade have a positive influence on while Exchange Rate is having negative relationship with Real GDP. In other model, Electricity Generation, Employed La- bor Force, Gross Fixed Capital Formation, Relative Prices are evidence of increasing real Exports. On the other side, Exchange Rate is negatively associated with real Exports of Pakistan. [...]

Attitudes and Behaviors of the Mobile Phones Users towards SMS Advertising: A Study in an Emerging Economy

Research Article

Advertisement through SMS is a commonly used medium in the era of technology. Companies are utilizing this medium of advertisement quite frequently. Rapid increase of the usage of mobile phones has developed an innovative way of utilizing this marketing tool. Due to the exponential growth in telecommunication industry after introduction of SMS and MMS, this study has been conducted to investigate the consumer attitude towards SMS advertisement and its relationship with behavior. Entertainment, irritation, product involvement and appeal were used in order to investigate the attitude of the consumer. A questionnaire was used to examine the relationships among variables of [...]

Determinants of Teacher's Job Satisfaction: Evidence from the Primary and Secondary Schools of Karachi

Research Article

Teacher’s job satisfaction has been considered a very important element in the training and development of pupils in their early academic years. This study investigates the impact of five determinants of the teacher’s job satisfaction in the context of primary and secondary schools when controlling for their age, gender, experience, marital status and education. These five determinants include occupational stress, empowerment, interpersonal relationships, working conditions and self-efficacy. A sample of 280 respondents is drawn from school teachers of Karachi. Principal component and hierarchical multiple regression analyses with ‘forward’ method are used to analyze the data. With exception of self-efficacy, the [...]

Investigating the relationship among Organizational Commitment, Job Satisfaction and Emotional Intelligence - Evidence from Teachers at Secondary Level in Pakistan

Research Article

The subject study is aimed to investigate relationship among three different factors associated with secondary level teachers including organizational commitment, job satisfaction and emotional intelligence in Pakistan. Additionally the subject study is aimed to investigate role of age and gender in determining these aspects among selected audience. In order to achieve said objectives, sample of 150 teachers at secondary level is selected by using stratified random sampling with proportionate allocation to each stratum. Field survey has been conducted during course of subject study, and results are based on research type of ex post facto in which structured questionnaire is used [...]

Oral Communication Apprehension Among Undergraduate Engineering Students in Pakistan

Research Article

This paper investigates the levels of oral communication anxiety of undergraduate engineering students in Pakistan. The data was collected from four departments of the university. McCroskey’s (1978) Oral Communication Apprehension (OCA) Survey Instrument was adopted for this study. The questionnaire was translated into Urdu (National Language of Pakistan) to make it clear to respondents. The data analysis revealed 18% of the sample had high level of oral communication apprehension, 66% faced average level of oral communication apprehension and 16% were in low level of oral communication apprehension. This study also discloses that there is no significant difference in levels of [...]

Impact of Teachers' Subject Matter Knowledge and Behaviour on Students' Performance

Research Article

This study investigated the impact of teacher’s subject matter knowledge and their behavior on the student’s performance. Qualified and well behaved teachers help to boost learner’s confidence and involvement in learning activities. In Pakistan, the quality of school level education is continuously deteriorating. It may be because of the reason that most of the private schools, due to their financial constraints, hire less qualified and untrained teachers. The data was collected through a 5 points Likert scale questionnaire. Responses were obtained from the students of secondary and matric classes of three different schools. Data was analyzed using various statistical techniques, [...]

China's Foreign Policy Choices and Domestic Constrains: Maneuvering for Peaceful Rise

Research Article

The paper explains how the People’s Republic of China has developed its strategy on three different levels: domestic, regional and global to manage its interests, focusing on the objectives and choices available at the end of China. The purpose to conduct this research is to critically analyze how the objective of peaceful rise is gradually, but coherently in the right direction, by the application of ideological, economic and defense means in well-articulated way. The crux of utilization of these foreign policy instruments, reflects that Confucius-ism and tributary system’s legacy is applied in dealing with smaller neighboring states and four regional [...]

Effect of Offline Parent Brand Dimension on Online Trust, Satisfaction and Loyalty: In Context of Newspaper Industry

Research Article

The shift towards technological era has caused services to adopt technology to increase customer satisfaction. Although much work has been done on offline brand dimension of newspapers and its effect towards website satisfaction, website trust and website loyalty; this paper focuses on how offline brand dimension of newspaper effects website satisfaction, website trust and website loyalty in Pakistani context. The mediating effect of Offline Brand Dimension of newspaper on Website Trust and Website Satisfaction has also been studied in this paper. Offline Brand Dimensions has been studied as a result of four factors which include: Brand Trust, Brand Satisfaction, Attitudinal [...]

Impact of Role Model on Behavioral and Purchase Intentions among Youngsters: Empirical Evidence from Karachi, Pakistan

Research Article

Concept of celebrity endorsement evolved in last few decades and it has strengthened its roots. Companies spend millions of dollar on celebrity endorsement. Marketers are trying to identify the impact of celebrity endorsement on companies’ profitability and advertising objectives. The purpose of this research was to investigate the impact of vicarious role model such as showbiz celebrity or sports celebrity on purchase intentions, brand loyalty and positive word of mouth among young adults of Karachi. Structured questionnaire was used to collect data through survey research method and data was collected from 252 students by using convenience sampling technique. Factor analysis [...]

Banking on Corporate Social Responsibility

Research Article

This exploratory study set out to understand the true value of Corporate Social Responsibility (CSR) in the banking sector. Businesses, including banks, actively participate in CSR but the question of value still persists. What does the bank receive in return for participating in CSR? Do banks get more customers as a result of their CSR programmes? Do banks have a better customer retention rate because of their CSR programme? Will customers change banks purely because they disagree with their banks CSR programme? These were some of the issues addressed but due to the small sample size, the findings cannot be [...]

The Impact of Structural Empowerment on Organizational Citizenship Behavior-Organization and Job Performance: A Mediating Role of Burnout

Research Article

The banking sector employees are usually exposed to potential job burnout which impacts their employee performance. This study examined the impact of structural empowerment on organizational citizenship behavior-organization (henceforth, OCBO) and job performance and further examined the mediating effect of job burnout in the relationships of structural empowerment, OCBO and job performance. In this study, data from 282 employees was taken from four banks: both public and private sectors. Two stage sampling technique was carried out to collect data. In the first stage probability cluster sampling and in the second stage convenience sampling was used. Different data analysis techniques like [...]

Content Analysis of the Provincial Pakistan Studies Textbook for Secondary Class

Research Article

The paper presents the results of the content analysis of the Pakistan Studies textbooks, of grade IX and X, published by the Sindh Textbook Board (STBB). The content was evaluated against the objectives set by the Federal Ministry of Education. The analysis includes the connections between the selected content and the set framework with additional focus on the quality of the textbook with respect to its printing and publishing styles. An adapted content analysis check-list by March (2009) was used for the study. Results show quite a few similarities between the national objectives and the selected content, however, some differences [...]

Motivation in English Language Learning: A Study of English Language Centers in Hyderabad

Research Article

This study analyzes and determines the socio-psychological aspect of EL learners studying English language overtly in addition to their college/ university education in various language centers in Hyderabad. The study focuses on motivation a contributing factor in second language acquisition, particularly on Gardener’s concept of instrumental and integrative motivations of students. In order to determine the students’ tendency towards the L2 acquisition 60 subjects of population of 2 renowned English Language Centers were selected randomly and were given them a questionnaire based on Gardner's (1974) Attitude/Motivation Test Battery (AMTB). The results revealed existing phenomena of learners’ motivation in L2 learning. [...]

Perspectives of Primary School Teachers Regarding Effectiveness of Cooperative Learning: A Descriptive Study

Research Article

This paper attempts to analyze the perceptions and practices of primary school teachers regarding the effectiveness of cooperative learning (CL) method and to identify the challenges that are encountered while implementing CL in schools. Sample was constituted by 65 teachers from a private sector school system with the help of stratified sampling technique. Questionnaire was used to collect data. Descriptive statistics was used to analyze the data. Data analysis reveals that lecture method is highly used teaching method at primary level whereas teachers use other teaching methods as well, such as lecture demonstration (LD), CL, project based learning (PBL) and [...]

Does Balance of Payments Constrained Growth Model Hold in Saudi Arabia?

Research Article

The paper aims to examine whether or not the balance of payments constrained growth model holds in Saudi Arabia. Also, the paper seeks to examine whether the balance of payments constrained growth model can predict Saudi Arabia's real GDP growth rate. In the long-run, the estimation results show that Saudi Arabia has an elastic income elasticity of demand for imports and an inelastic price elasticity of demand for imports. The McCombie test shows that the hypothetical income elasticity of demand for imports, which assumes balance of payments is in equilibrium, is not significantly different from the estimated income elasticity of [...]

Impact of Capital Structure on Firms? Financial Performance: Evidence from United Kingdom

Research Article

The purpose of this paper is to examine empirically the impact of capital structure on financial performance of United Kingdom (UK) firms' during the period from 2006 to 2015. The investigation is performed using data of 739 UK very large and large listed companies on London Stock Exchange. The study uses four performance measures, including return on equity - ROE, return on assets - ROA, Tobin's Q and earnings per share EPS as dependent variables. The two capital structure ratios, namely long-term liabilities and short-term liabilities as well as growth rate of total assets are applied as independent variables. Size [...]

Relationship between Trade Openness and Energy Consumption in Oil Importing Asian Countries

Research Article

The present study intended to examine the impact of trade on energy con- sumption using data of four oil importing, heavily populated, and developing economies of Asia namely Pakistan, India, China and Bangladesh. The study covers the period of 1972 to 2011. The data was checked for the Cross-sectional Dependency using CD-test, then CIPS panel unit root test, Panel cointegration, and Pooled Mean Group estimates approaches were used. Empirical results confirmed the Long-run relationship between energy consumption and trade openness. This study confirms the influence of trade on energy consumption and that they are positively related. International trade increases the [...]

Remittances, Foreign Direct Investment and Growth in SADC: A Panel Co-integration Approach

Research Article

The current growth in per capita gross domestic product for countries within Southern Africa Development Community (SADC) has been below the target of 7% as provided by the sustainable development goals. This study uses panel co-integration techniques to establish the presence of non-linearity between long term growth and remittances, the substitutability or complementarity between foreign direct investment (FDI) and remittances as sources of long term growth. Annual data for 12 SADC member states for the period 1970 to 2014 was employed. Findings show that remittances promote long term growth and the connection between the two is nonlinear. Remittances positively affect [...]

Herding Behaviour among Credit Rating Agencies

Research Article

The aim of this paper is to identify the influence degree among the main rating agencies and the other variables that affect rating changes for sub-sovereign entities in Germany, Austria, Belgium, France, Italy and Spain, using a total of 32 territorial entities between 1996 and 2012. Due to the shortage of European sub-sovereigns with more than 2 ratings, we estimated six binary probit regressions as a combination of 3 rating agencies two to two. We conclude that Fitch is the most influential agency on the other two rating agencies, but Standard and Poor's is the leader. There are other relevant [...]

The Impact of Sectoral Foreign Direct Investment on Industrial Economic Growth of Pakistan

Research Article

This study examines the impact of sectoral foreign direct investment on industrial economic growth of Pakistan, by means of Cobb-Douglas production function. Three sectors were used namely manufacturing, construction, mining & quarrying for panel data during period of 1997 to 2011. This study used three standard panel unit root tests; PP statistics panel unit root, ADF statistic, IPS panel unit root test. Moreover, to test the co integration between the variables , three different types of test were used for the panel co integration test based on Johansen fisher, Kao residual cointegration, Pedroni residual cointegration tests to find the long run [...]

An Empirical Investigation on the Effect of Brand Loyalty

Research Article

This paper examines how satisfaction, brand image, price, packaging and perceived quality influence brand loyalty. A self-administered questionnaire through mall intercept method was used for survey purpose. Valid sample size was 300 comprising all adults and both genders. The constructs used in this study had established reliabilities. After ascertaining the normality of data a typical multiple step procedure was adopted which is inclusive of identifying outliers, ascertaining normality of the data, reliability analysis, validity analyses, CFA for all the constructs through structural equation modeling (SEM), and testing the overall model through SEM. Derived hypotheses results were assessed on SEM’s output [...]

Impacts Of Globalization on Economic Growth - Evidence From Selected South Asian Countries

Research Article

The study uses overall index of globalization developed by Dreher (2006) in which all three types of integration were utilized such as political, economic and social integration. The data of three south Asian countries like Pakistan, India and Bangladesh were taken for the period from 1981 to 2011. Initially, stationary properties of selected variables were checked through conventional unit root tests such as Augmented Dickey Fuller (ADF) and Phillip Perron (PP) test followed by ordinary least square (OLS), granger causality is applied and finally long-run relationship among variables were confirm by employing Johansen test of cointegration i.e. trace test [...]

Lessons From The 2008 Global Financial Crisis: Imprudent Risk Management And Miss Calculated Regulation

Research Article

Of the major shortcomings exposed during the 2008 global financial crisis, there are two aspects that have attracted much interest among academics: the under-appreciation of the complexity of new operations at large financial institutions and the inadequate oversight of basic prudential supervision by regulatory agencies. To provide a brief focus on elements of these aspects, this paper presents corresponding case studies involve the fall of two of the largest finance companies ever existed: American International Group and Lehman Brothers Holdings. A survey of related historical arguments shows that while AIG fails due largely to its extended involvement in the new [...]

Impact of Human Resource Management Practices on Teacher's Performance: A Mediating Role of Monitoring Practices

Research Article

The purpose of this paper is to measure the impact of HRM on teachers’ performance in the context of Pakistan. Impact of HRM practices on teacher's performance has been an under-researched area in Pakistan. For the human development of any society the major share of responsibility lies with the teachers of that society, so in this study, we had investigated how HR practices affect the teachers’ performance. We proposed a mediation model in which monitoring act as mediating mechanisms that transmits the positive effects of HR practices to teachers’ performance. Therefore teacher's performance is an issue that if addressed adequately, [...]

Determinants of consumer's behavioral intention for pirated music in Pakistan

Research Article

This research is conducted with the objective to identify the determinants of customer's purchase intention for pirated music in Pakistan. The research contains Fair Price, Perceived Harm and Ethics as an independent variable to analyze the impact on Purchase Intention which is a dependent variable. The sample size of this study is 350 respondents (including Graduate Students and lay man) who regularly buy pirated music CDs/DVDs in Karachi. Likert scale technique is used in this study. Data has been analyzed through the reliability statistical technique, factor analysis and linear regression analysis. The result indicates that Fair Price and Perceived Harm [...]

Do Liquidity and Financial Leverage Constrain the Impact of Firm Size and Dividend Payouts on Share Price in Emerging Economy

Research Article

This study investigates the influence of liquidity position and financial leverage on the relationship of share price with firm size and dividend payouts in Pakistan by using the annual panel data of 356 non-financial firms listed on Karachi stock exchange from the period of 1999 to 2013. Pedroni panel cointegration approach confirms the valid long run relationship between considered variables. Results indicate that firm size and dividend payout have significant positive relationship with the firms' stock prices in long run. Results of causality test show the bidirectional causal relationship of firm size and dividend payout with stock prices in non-financial [...]

Does Profitability affect Debt Ratio? Evidence from Vietnam Listed Firms

Research Article

The main objective of this study is to examine the relationship between profitability and leverage of Vietnam listed corporations in the aftermath of the Global Financial Crisis (GFC). The study finds strong evidence that this relationship is negative. This conclusion is not affected by control variables as well as firm and year fixed effects. Particularly, it is found that the smaller the firms are, the more profound the relationship is. In line with many previous researches, this result is in favor of the Pecking order theory. In the Vietnamese context, small and profitable firms tend to have higher incentive to [...]

Tourism Development and Real Effective Exchange Rate Revisited by Wavelet based Analysis: Evidence from France

Research Article

This research scrutinizes the empirical association of tourism development (TD) and real effective exchange rate (ER) in the high tourist arrival economy; France by wavelet transform context. This innovative technique allows the decomposition of time-sequence at diverse time frequencies. We applied continuous wavelet, wavelet coherence power spectrum and wavelet based Granger causality analysis to explore the connection between TD and ER, by using the monthly data from 1996 (1) -2015 (8). Outcomes show that there is a unidirectional causal impact from TD to ER in short run and also a bidirectional causal influence of TD on ER in medium and [...]

How does Interest rate effect Exchange rate of Pakistan. Evidence of ARDL Bound Testing Approach.

Research Article

The purpose of this paper is to examine the long run as well as the short run relationship between exchange rate and interest rate in the context of Pakistan. Annual time series data have been used over the period of 1980 to 2015. Augmented Dickey-Fuller (ADF) unit root test, Johansen and Jeuuselius?s cointegration technique, auto regressive distributed lag (ARDL) bound testing model, error correction model (ECM), CUSUM and CUSUM of square tests for stability of model and, causality analysis in supporting variance decomposition and impulse response function are used to meet the research purpose. The study concluded the existence [...]

Impact of Monetary Policy on Private Investment: Evidence from Pakistan

Research Article

This study analyzes the impact of real discount rate, government investment and foreign direct investment on private investment in Pakistan by using annual time series data over the period of 1975-2015. The research used Augmented Dickey Fuller (ADF) unit root test, Johansen and Juuselieus's co-integration technique, Auto Regressive Distributed Lag (ARDL) bound testing model, Error Correction Model (ECM) and Causality Analysis to analyze the relationship. Results of ECM and cointegration analysis suggest that a significant negative short and long run relationship exists between private investment and real discounted rate of return. Whereas, causality analysis confirms the unidirectional causality exists between [...]

Index Future Trading, Spot Volatility And Market Efficiency

Research Article

This paper examines the impact of the listing of index futures trading on spot market volatility, market efficiency and volatility asymmetric responses. In order to model the effects of the introduction of index futures contracts, a modified GJR-GARCH model has been applied to examine the structural change of conditional variances before and after the introduction of index futures trading in S&P500, Nikkei 225, ASX all Ordinaries, and an equally weighted international portfolio. Additionally, this study adopts the coefficient dynamic tests to examine whether the identified impacts of index futures are consistent over time in both the individual indices and the [...]

Impact of Leader's Change-Promoting Behavior on Readiness for Change: A Mediating Role of Organizational Culture

Research Article

The purpose of this study is to investigate the impact of the leader’s change-promoting behavior on employee’s readiness for change and whether the organizational culture mediates this relationship. A sample of 205 responses is drawn from employees having junior or senior level of managerial responsibilities in Karachi. The method of both exploratory and confirmatory factor analyses is employed to evaluate the reliability and validity of the measurement model. The structural equation modeling method was then applied to examine the theoretical framework with the help of seven frequently reported goodness-of-fit indices. The results indicate that leader’s change-promoting behavior has a significant [...]

Impact of Rewards System on Teacher's Motivation: Evidence from the Private Schools of Karachi

Research Article

This study investigates the impact of five determinants of the rewards system on employee motivation in the context of private schools. A sample of 310 respondents is drawn from the private school teachers of Karachi. The rewards system was measured through five independent variables including salary offered, recognition, promotion, working content, and working conditions. By using exploratory factor and regression analyses, the results show that except salary offer, rests of the four variables have been found statistically significant to predict teacher's motivation. However, the recognition of efforts followed by working conditions have revealed the greatest impact on teacher's motivation. Thus, [...]

Job Satisfaction among the Primary Public and Private School Teachers of Karachi

Research Article

This research set out to explore the relationship between teacher job satisfaction and institutional undertakings within the context of schools located in Karachi Pakistan. 345 questionnaire were completed by teachers from both public as well as private schools. The data collected was analyzed through factor and regression analysis. The variables examined include working conditions, principle's leadership style, workload, collegial support, monetary rewards and career advancement and teacher autonomy. It was identified that all variables except for work load and autonomy were deems significantly as well as positively related to teacher's job satisfaction. [...]

Introduction to the First Issue of “Journal of Finance & Economic Research”

Editorial

It is with great pleasure that we introduce the first issue of Journal of Finance and Economic Research (JFER). Five papers have been selected for the first issue of the journal. The issue covers a diverse range of topics in the fields of finance and economics. The first article, titled “Bank Profitability and its Determinants in Pakistan: A Panel Data Analysis after Financial Crisis” by Muhammad Ali, discusses the internal and external determinants of the Pakistan banking sector, specifically after the recent financial crisis of 2008. The second article, titled “Critical review of Yasheng Huang’s - Rethingking the Bejing Consensus” [...]

Bank Profitability and its Determinants in Pakistan: A Panel Data Analysis after Financial Crisis

Research Article

This study seeks to investigate the internal and external determinants of the Pakistan banking sector, specifically after the recent financial crisis of 2008. The sample data comprises of total 26 banks, which include 17 conventional, 5 Islamic and 4 public banks. The selected sample covers the period of five years from 2009 to 2013. A balanced panel data regression model has been used and considered return on assets (ROA) and return on equity (ROE) as an alternative of bank's profitability. The results of the study suggest that bank's profitability is significantly affected by its internal determinants while external determinants are [...]

Critical review of Yasheng Huang's "Rethingking the Bejing Consensus"

Research Article

The unprecedented economic growth enjoyed by the People's Republic of China over the last few decades has attracted the attention of academics and policy-makers all over the world. The developing countries are not an exception and, in fact, many in Asia, Africa and Latin America may see the China model as an example of new development formula more effective than free markets. However, MIT professor Yasheng Huang pointed out that these countries, as well as China itself, should reconsider their future decision. His paper examining the nature of China model with regards to the principles of the Beijing Consensus, though [...]

Resistance to Adopt Mobile Banking in a Developing Country: Evidence from Modified TAM

Research Article

Mobile banking is an emerging concept with great potential but it is facing lower rate of diffusion. This study examines the perception and intention aspects of mobile banking adoption in Pakistan. Modified Technology Acceptance Model is used with the integration of four perceived risk dimensions (financial, privacy, time and security). A sample of valid 389 responses was drawn from the mobile subscribers of Karachi. The techniques of both exploratory and confirmatory factor analyses were employed to assess the reliability and validity of the measurement model. The structural equation modeling method was also applied to investigate the hypothetical framework with the [...]

Determinants of Inflation in Pakistan: Demand and Supply Side Analysis

Research Article

In order to achieve the objective, time series data is collected over a period of 1972 to 2014. Auto-regressive and distributed lag model is utilized for long run and short run results. The demand side factors of inflation are population, roads and government expenditure while supply side factors are imports, government revenue, electricity generation and external debt. In the long run, inflation is caused by roads, government expenditure, imports, government revenue and external debt. There is decline in price level due to foreign direct investment, electricity generation and population in long run. [...]

The Impact of Working Capital Management on Firms Profitability in Different Business Cycles: Evidence from Pakistan

Research Article

This study investigates the influence of working capital management on firms' profitability under different business cycles in 65 non-financial firms listed on Karachi stock exchange of Pakistan by using the annual panel data for 10 years from the period of 2004 to 2013. We use Pedroni panel co-integration and Kao residual panel co-integration approaches to confirm the valid long run relationship between considered variables. The result of regression analysis indicates that the significant negative relationship exists between cash conversion cycle and its components with firms’ profitability. Moreover, the business cycle affects the working capital management and firms' profitability relationship. It [...]

Application of Kalman Filter on modelling interest rates

Research Article

This study aims to test the feasibility of using a data set of 90-day bank bill forward rates from the Australian market to predict spot interest rates. To achieve this goal I utilized the application of Kalman Filter in a state space model with time-varying state variable. It is documented that in the case of short-term interest rates,the state space model yields robust predictive power. In addition, this predictive power of implied forward rate is heavily impacted by the existence of a time-varying risk premium in the term structure. [...]

Body Image of Pakistani Consumers

Research Article

This paper examines how media exposure, self esteem, and religiosity influence body image of Pakistan consumers. The underpinning of this study is based on Social Comparison Theory with two additional variables (religiosity and self esteem) for understanding understand consumer attitude towards body image. A self administered questionnaire was used. 193 persons responded at mall intercepts. The Conceptual framework was empirically tested through SEM. A positive relationship between exposure to media and body image was found while negative influence was found between self esteem and body image. No relationship was found between religiosity and body image. The results showed mixed outcomes [...]

Impact of Macroeconomic Factors on Non-financial firms' Stock Returns: Evidence from Sectorial Study of KSE-100 Index

Research Article

This paper attempts to study the impact of pre-specified set of macroeconomic factors on firm's stock returns for nine nonfinancial sectors listed in Karachi Stock Exchange. The macroeconomic factors included are consumer price index, industrial production index, market returns, risk free return and money supply. The studied sample covers data from 2001 to 2011. Panel analysis using pooled OLS shows that all studied sectors firm's stock returns have negative relationship with consumer price index, money supply and risk free rate, whereas industrial production index and market returns indicates a positive relationship. The results of this study have important implications for [...]

Determinants of Brand Equity of QMobile: A case study of Pakistan

Research Article

The purpose of this paper is to examine the determinants of brand equity of QMobile users. A random survey was taken using a systematic sampling of colleges and universities in a metropolitan city, Karachi, Pakistan. The questionnaire was used to collect data. The impact of each determinant was explored by using factor analysis and multiple regression analysis. The results suggested that all the determinants have a signicant impact on brand equity whereas brand response has no impact on brand equity dimension. [...]

Consumer perception of brand trust online of clothing in Karachi: A case study of Gul Ahmed

Research Article

Online purchase, in the clothing industry of Pakistan, is on a historical high. There are various factors that affect the brand trust of online consumers. This research is aimed to find the correlation between security and privacy of personal information, name of the brand, word-of-mouth, prior online experience and information quality on the one hand and the online brand trust of consumers on the other. The study is conducted in relation to a single brand, named Gul Ahmed. The sample for this study contained 387 respondents. The results of the study show that all these factors have a significant relationship [...]

The Relationship between Protean Career Orientation and Perceived Employability: A Study of Private Sector Academics of Pakistan

Research Article

This study investigated the effect of protean career orientation on individual's perceived employability. This is the first study of its nature which tried to establish the relationship between protean career orientation and perceived employability. We used protean career theory to develop our conceptual framework. Data were collected from the academic staff of private sector universities by using the stratified sampling technique. Theoretical model was tested using the data obtained from 192 respondents. Measurement model is tested by using the confirmatory factor analysis. To test our hypothesized model, we employed structural equation modelling technique in AMOS 21. The researcher found a [...]