Journal of Management Research (JMR)
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Triangulation of Psychological Capital, Organizational Citizenship Behavior and Job Embeddedness: An Empirical Study
No full textThe study focuses on Positive Psychological Capital (PsyCap) which is one of the personal resources closely linked to employee performance. The psychological mechanisms which might explain this link have not yet been thoroughly investigated. This study aims to see whether employee Job Embeddedness performs any role between PsyCap and employee Organizational Citizenship Behavior (OCB) relationships in public limited companies of Pakistan. In the current research study, 477 employees from four Pakistani public firms completed a survey about PsyCap, Job Embeddedness and OCB. We utilized the "PROCESS" Macro in SPSS and the bootstrapping technique to assess the indirect effects. Findings of the study revealed that PsyCap effected OCB through Job Embeddedness. The work adds to the current literature in the Pakistani context, both theoretically and empirically, by providing external validity to the results of the association between PsyCap and OCB in Western contexts and analyzing the intervening mechanism between the two
IMPORTANCE OF BIM IMPLEMENTATION AND WORKING FLOW FOR CONSTRUCTION PROJECT LIFECYCLE
No full textThe latest technological development of the Building Information Modelling (BIM) method is promising and dramatically changes the way project management in architecture, engineering and construction. By offering a three-dimensional model as essential component of construction projects, BIM offers the construction industry with the tools it needed to better accomplish. The presented results of an examining case study specific to a BIM project and the discussed that professional opinion about his practice and the BIM collaboration processes is discussed in this study. It shows that the roles of BIM experts are different from one discipline to another, and they have not just technical roles. Furthermore, the information sub process seems to become clearer around the BIM mangers, which inclines to create leadership in the BIM manager and project manager.
Keywords: Building Information Modelling; Project management; 3D Mode
Green R&D, Green Investment and its Effect on Firm Financial Performance, in the Context of Pakistan
No full textThe significance of worldwide corporate green R&D investment is getting momentum in the context of Pakistan. This research investigates the enhancing economic observations that stock market and green financial system findings delicate corporate hypermetropia so enhance long run and upcoming R&D relation with green investment. It is documented on the resulting review of the 12 manufacturing listed firms in Pakistan stock exchange index for the period 2010-2019. The research initiates these firms’ firm performance display a positive relationship. It is also explained to enhance green R&D action among big listed firms in the country and they are extremely possible to keep their level of similar investment for the coming years. The research findings, therefore, enhance the body of literature on firm hypermetropy in the nexus to company greening creativities
DETERMINANTS OF FOREIGN EXCHANGE RISK MANAGEMENT USAGE: EVIDENCE FROM NON-FINANCIAL FIRMS IN PAKISTAN
No full textThe current study aims to investigate the factors affecting firm’s decision to use foreign exchange derivatives. Sample of the study was taken from non-financial companies of Pakistan Stock Exchange, out of which 90 firms (which uses the Foreign exchange derivative (FX) were considered as sample for the study. The data was secondary in nature and was collected from annual reports of listed companies of Pakistan stock exchange, while the stock prices were collected from business recorder website. For the data analysis this study has used Logit model. The empirical outcomes shows that the financial distress costs have positive and significant effect on Foreign Exchange derivatives whereas Interest coverage ratio and size have significant effect on derivative. Assets growth over cash flow has insignificant effect of Foreign Exchange derivatives. Those firms who have higher foreign sale are more likely to use the instruments of Foreign Exchange derivative. The firms that are on larger magnitude restrict over financial distress are more likely to use Foreign Exchange. Future research could be focused on determining the factors influencing the usage of interest rate derivative instruments and extent of such derivative usage.
Keywords: Financial distress cost (FDC), Foreign exchange derivatives, Interest coverage ratio
RELATIONSHIP BETWEEN FREE CASH FLOW AND DIVIDEND A STUDY OF THE CEMENT SECTOR OF PAKISTAN
No full textThis study investigates the relationship between free cash flow and dividend policy. The current study uses EBIT, Tax, Dividend, Working capital, Depreciation, Capital expenditure, and FA as an independent variable and Free Cash Flows as a dependent variable to investigate the relationship between free cash flow and dividend. Study based on the cement sector, five companies were selected actively trading in Karachi Stock Exchange, during the period 2011 to 2015. Secondary data was collected through financial statements of companies and stock prices were collected from Karachi Stock Exchange. Descriptive statistics, simple and multiple regression analysis is applied to find out the relationship of the firm. However, we found that there is a negative relationship between capital structure and stock price. The present study is a unique contribution to the existing literature of finance in the context of emerging markets like Pakistan. The study found that free cash flow and earnings per share have positive effects on the dividend policy while a negative significant relationship is found between leverage and dividend policy of listed cement companies in KSE. Companies in which a high proportion of shares are held by managers are more reluctant in paying a higher dividend. Hence, the study recommends that companies in the Cement sector should endeavor to improve the level of free cash and profitability while reducing the level of leverage thereby paying a higher dividend payout policy.
Keywords: Cash Flow, Dividend Policy, Payout, Cement Secto
FACTORS INFLUENCING STAKEHOLDERS’ ENGAGEMENT PROCESS IN CONSTRUCTION PROJECTS: KP REGION PAKISTAN
No full textOne of the major concerns coming forth in the management of construction projects is the engagement and management of project stakeholders in the region of KP. The successful construction project management can be carried out only, when the stakeholders are communicated and informed in well manner, and to shrink down and control potential influence of the project's stakeholders. The research aim is to find out the role of proper communication, exploring needs of the project and providing full information about the project, on stakeholders’ engagement process. Literature, related to the topic has been conducted and reviewed. A questionnaire has been developed and then distributed among professionals to get their view point about the subjected topic. Total 82 questionnaires were distributed among Govt. agencies, NGO’s and private sectors, targeting general managers, project managers, supervisors and engineering staff. It has been proved with numerical evidences from the respondent’s point of view that all three elements i-e proper communication, exploring needs of the project and providing full information about the project, is like a key to successful engagement process for any construction project in KP. One of the main recommendations of this research is that it is the responsibility of every team member to communicate positively to stakeholders for the best result of the project.
Keywords: construction projects, stakeholder’s engagement, communication, factors
Nexus between Packaging Strategies and Consumer’s Buying Behavior: Evidence from Peshawar
No full textThe study aims to find out the effect of different packaging strategies on consumer buying behavior in Peshawar and how the strategies of different brands are having an impact on consumer buying behavior in Peshawar. In 150 students we distributed the questioners and they choose the random sampling method. Each questionnaire contains 14 questions for the research analysis. The questions were coded using statistical software (SPSS) regression, Correlation, and frequency distribution approaches were applied to the data. The regression results suggested that only packaging color has a positive and statistically significant connection with consumer buying behavior while other variables were having no significant association with consumer buying behavior. Also, has a value of 0.49 which indicates that the independent variables we used in the analysis induced a 49 percent shift in customer purchasing behavior or dependent variable. Besides, F-statistics has a value of 1.23 which below 0.05 and it shows that the whole model ishighly significant. Likewise, the findings of individuals’ correlation indicated Pearson correlation showed that customer's behavior purchasing and packaging color has a poor and negative association. This also shows a robust association between consumers purchasing behavior and packaging content at level 0.05. Market behavior purchasing and font style has an adverse correlation. While wrapper design and user purchasing have an adverse correlation. Correlation tables also revealed that there is a poor correlation between print knowledge and purchasing behavior and a strong correlation between customer purchasing behavior and innovation.Key Words: Packaging Strategies and Consumer’s Buying Behavior, Peshawa
RISK TOLERANCE AND RISKY INVESTMENT INTENTION MEDIATED BY FINANCIAL LITERACY
No full textThe purpose of the study is to identify the effect of individual factors such as risk tolerance i.e. risk taker & risk averse on risk related investments. At the same time the study also intends to examine the effect of financial literacy i.e. whether this variable mediate the relationship between risk tolerances in general and risky investment intention. The methodology composed of positivist philosophical stance, deductive approach and quantitative method with primary data through adopted questionnaires. Descriptive statistics, correlation and Baron and Kenny model has been used for analysis. Accordingly, results conclude that taking risk in general has impact on risky investment intention while averseness of risk has no impact on risky investment intention. Similarly, the study also provides an evidence that financial literacy plays a mediating role, because financial literacy changed the behavior/relationship between risk tolerance (risk taker & risk averse) in general and risky investment intention. There for this consideration should boost the financial education and literacy for better investment decision of investors
Keywords: Risk tolerance, financial literacy and risky investment intention
Green Banking: A Conceptual Study on its Definition, Complexities, and Opportunities in Pakistan
No full textBanks directly generating environmental pollution during their banking operations and banks are the main source for funding of such businesses and projects that can pollute the environment. The purpose of this study is to analyze the bankers’ perceptions on different aspects of Green Banking in Pakistan, it includes the concept of Green Banking, its benefits, complexities, relationship with the Islamic banking, strategies, problems facing in Green Banking Guidelines issued by SBP in 2017, opportunities and suggestions for implementation. The main objective of the banks is to maximize the profit of the banks but the role and approach of GB are different. This study used interpretive research philosophy, inductive research approach, and exploratory research strategy, qualitative research choice, and cross-sectional as time horizon. Primary data have been collected and used for analysis. All bank managers in the Peshawar division taken as population and 14interviews of respondents of the executive level bankers were taken as sample size. Face to face interviews through open-ended questions was conducted. Data analysis was carried out by designing and showing responses to the MS excel table. For each question, data is coded and descriptive analysis techniques i.e. percentage is used for the processing of collected data. The outcomes of the study revealed that bankers perceived that Green Banking is environment-friendly banking which can help in the protection of the environment even with high adoption costs and other related complexities. Green Banking will reduce resource wastages to raise profit and can easily access. The major complexity of Green Banking is the lack of awareness and education.
Key Words: Green Banking, Opportunities and Challenges, Qualitative Content Analysis (QCA
IMPACT OF INTERNATIONAL MONETARY FUND BAILOUTS ON PAKISTAN STOCK EXCHANGE: AN EVENT STUDY
No full textThis study is to light the impact of the International Monetary Fund bailouts/ lending packages on Pakistan stock exchange because Pakistan's economy is having under influence of the International Monetary Fund by various packages with its terms and conditions. Therefore, it is essential to study the behavior of indices of Pakistan stock exchange upon the announcement of lending packages. To find the stock market behavior author uses five recent lending package in the last 20 years i.e. from 2000 to 2019 on all indices of Pakistan stock exchange. The event study methodology is employed through the mean adjusted model for the conduction of the study. Results suggested that there is a significant behavior of the stock market indices of Pakistan stock exchange. The positively significant impact of bailouts is recorded on event day, whereas, entire event windows were found to be negatively significant because there are positive and negative impacts recorded before and after the event date. Moreover, the post-event windows were found to be negatively significant for all of the events and indices. As results show that investor behaves abnormally upon announcement of the International Monetary Fund lending package.
Key Words: IMF bailout, Stock Exchange, Event Stud