Journal of Management Research (JMR)
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DETERMINANTS OF CAPITAL STRUCTURE OF FINANCIAL FIRMS IN PAKISTAN
No full textThe study was designed to examine the determinants of capital structure of financial firms in Pakistan. Tangibility, non-debt tax shield, profitability, firm size, earning volatility and growth were used as the determinants of the study. The study used the financial firms as a population of the study and took 27 banks out of 128 via random sampling technique over the period of 2005-2015.The study used panel data regression model for the data analysis (Fixed Effect Model and Random Effect Model). According to the Fixed Effect Model; Non debt tax shield, profitability have significant effect while tangibility, firm size, growth and earnings volatility have insignificant effect on the capital structure. The empirical result shows that non debt tax shield have significant relationship and positive correlation with leverage of the firm confirmed Trade Off Theory. Size of the firms has negative relationship and statistical insignificant correlation with leverage. Earning volatility having positive correlation with leverage of the firm, this relationship is insignificant while supporting Trade Off Theory. Tangibility positive relationship and growth has negative but insignificant correlation with leverage, profitability is significant while negative relationship with the capital structure thus which confirm Pecking Order Theory.Keywords: Tangibility, Firm Size, Profitability, Financial Firms, PS
THE IMPACT OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH IN PAKISTAN.
No full textForeign direct investment has been one of the important sources of economic growth. It will increase not only the level of incomes in host countries but also the productive base of these countries. This study has followed to identify any Granger-Causality among the economic growth and its determinants in terms of causality among Gross Domestic Product, Foreign Investment, Labour Force, Capital formation and infrastructure in a developing country context for Pakistan. The literature has abundant research work on causality analysis of FDI and economic growth. This study also adds by identifying the causal relationship among GDP and its determinants including FDI for Pakistan in time spanning from 1980 to 2008. The Error correction mechanism is adopted and Engle-Granger Causality tests has been applied to identify causal relationship among the included variables. The results indicate that FDI is not granger causing GDP for Pakistan while other important determinants Granger-causing GDP are inflation, infrastructure and trade openness, while FDI is Granger-caused by inflation, trade openness and capital formation.Keywords: Gross Domestic Product, Foreign Direct Investment, Labor Force
DETERMINANTS OF AGRICULTURAL ASSETS LOSSES: EVIDENCE FROM SWAT ARMED CONFICT
No full textConflict has been a common feature throughout the world in its long history. Pakistan is no exception to such undesirable incidences and has faced conflicts in one form or the other since its independence. In 2009 Pakistan Army launched an operation against the rebellions in Swat and about 2.5 million of people became refugees and migrated to the neighboring safe places. The study was undertaken with the objective to determinants of assets losses during conflict and the rehabilitation strategies of the people in Swat area. Stratified random sampling method was used to collect the data. Data was collected from two different types of conflict affected areas through structure questionnaire. The study revealed that conflict reduced the average number of livestock by 26 percent in the fully affected sample areas and 19 percent in the partially affected sample areas. Monthly income from the sale of livestock products decreased by 54% in the fully affected sample areas and 16.5% in the partially affected areas whereas the average annual income from the sale of live animals decreased by 62% in the fully affected and 5.5% in the partially affected tehsils. The number of horticultural trees declined by 34% and 3.3% on the average in the fully and partially affected sample areas due to unavailability of inputs and lack of proper care. Operational land holdings decreased by 5.5% and farm employment decreased by 6.45%. There was a significant difference in assets losses during conflict subject to education level, farming experience and number of adult male family members. As a rehabilitation strategy male migration to work abroad was increased by 50 and 100 percent in the fully and partially affected tehsils respectively.Key words: Conflict, Swat, household assets, livestock losses, trees losses
Effect of Employees Training, Employees Motivation, Employees Development on Employees Retention
No full textThis research is conducted on the basis of studying the effect of employee’s retention in private universities of Peshawar, Pakistan taking the focus on the case of iqra national university as center point the word retention stands for the ability of an organization to retain their employees and to safe their good quality employees so in order to study why employees working in the organization leave the organization after small period of time which is the basic problem that is face by many organizations in Pakistan and seeing why employees are leaving the organization after specific period of time is our basic concern. For studying the problem first it was decided to create a questionnaire after reading different articles about effect of employees retention and finally the questionnaire consist of closed ended question is designed and circulated among the employee’s the results are studied and run on the software spss20 that is statistical packages for social sciences, Eview8 and STATA through which following results are calculate shows that Employees Retention has significant results with Employees Training and has inverse relation and it shows insignificant result with Employees Motivation and insignificant with Employees Development. Shows that the problem can be overcome by increasing the Motivation and Development factor of employees so that the good quality employees will retain their in the organization and perform well
Emotional Intelligence: A Driving Force towards Organizational Development
No full textThe review was aimed to extract the findings of studies on emotional intelligence specifically in context of personnel performance in the organizations. The review consist of citing over fifty published articles (available online) covering the studies on emotional intelligence and connected it with the significance of EI on overall performance of individuals in organizations specifically. The review provides substantial support to the work of several researchers who have argued that EI is a significant predictor of work-related outcomes including motivation, creativity, managing stress and work-life balance. Moreover it is found in the review that emotionally intelligent teams can build social capital while emotionally intelligent leaders can strengthen the teams and cultivate a conducive work environment to achieve any milestone. The review strongly recommends to the leadership and the workforce of the modern organizations to acquire benefits of emotional intelligence in individual as well as social life through a dynamic learning attitude towards its components.Key Words: Emotional Intelligence, Organizational performance, Leadershi
Impact of Privatization on the Financial Performance of UBL (United Banks Limited)
No full textThe study of impact of privatization on the financial performance of United Bank Limited (UBL) the authors studied the ten year data before the privatization and ten years data after the privatization. The secondary data was used and the data taken from the Financial Statements of UBL from 1992 to 2002 pre privatization and 2003 to 2012 post privatization. The method was used in research to evaluate the data “ratio analysis and trend analysis”. After the complete analysis of data the researcher are in the favor of after privatization which mean that the performance after privatization is better as compare to the before privatization of UBL
Impact of Social and Human Factor on Knowledge Creation
No full textThe human and social factors have a positive impact on the creation of knowledge specifically in the knowledge-based organizations. The human and social factors are both are those which is playing a very important role in the process of knowledge creation within an organization. The study found that one of the most important aspects of knowledge creation is the social computing and knowledge socialization within an organization, due to this the people share professional interests, which shows the area of interest where those can create the knowledge.Key Words: Social Factors, Human Capital, Knowledge Creation, and knowledge socializatio
LEAD-LAG RELATIONSHIP BETWEEN COMMODITY SPOT AND FUTURES MARKETS IN PAKISTAN
No full textThis study was conducted to determine the lead-lag relationship between commodities spot and futures prices in Pakistan. Five commodities i.e. gold, silver, wheat, rice and sugar were selected keeping in mind the availability of the data. It was found that in few cases the spot prices lead futures prices while in other instances futures prices are lead by spot prices. The direction of relationship between commodity spot and futures prices was observed to change by changing futures contracts maturity period.
Key words: lead-lag relationship, futures market, stationarit