Market Forces (Journal of Management, Business and Economics, College of Management Science, PAF-KIET)
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The Test of Synergy in a Policy Induced Consolidation of Selected Nigerian Banks
Get PDFThe 2005 banking sector reforms in Nigeria induced by the Central Bank of Nigeria (CBN) have resulted in merger waves in the banking sector. In order to increase their capital base to the required N25 million, many banks in Nigeria have witnessed significant merger and acquisition activities. It is often argued that merger of companies creates synergy. This study was conducted to test whether there was synergy in a policy induced consolidation of banks in Nigeria. It also examined the impact of strategic similarities in bank mergers on post-merger financial performance. The study used secondary data collected over a period of 2001 and 2010 from the published annual reports and the merger schemes of the sampled banks. As dependent variable, we measured change of performance as the difference between the merged banks' five-year average return on equity (ROE) and the weighted average of the ROE of the merging banks four years before the merger. Regression analysis, using pooled panel fixed effects and random effects estimation methods were executed to analyze the data. The results indicated that not all banks that have undergone deals of mergers or acquisitions have shown significant improvements in performance. That is the merger did not create the expected synergy. We therefore recommended that the regulatory authorities should in future weigh carefully the effects of a particular reforms policy before imposing it on banksKeywords: Mergers, Acquisitions, Consolidation, Synergy, Return on Equity
The Impact of Financial Sector Development on Agricultural Growth: Empirical Evidence from Pakistan
Get PDFThe paper examines the impact of financial sector development on agricultural growth in Pakistan. A Cobb-Douglas production function was used with two proxies for financial sector development, i.e. broad money M3 as proportion of GDP and agricultural loan disbursement. The study utilized annual data for the period 1981-2015. A VAR model was applied to explore the relationship between the performance of agricultural sector and improvement in financial services in the country. The results of the Johansen co integration test and VECM model reveals a significant positive relationship between agricultural growth and capital formation, farm credit disbursement and liquid liability in the financial sector. The relationship with rural labor force was mixed which may be attributed to the over employment of labor in the agricultural sector. The study is unique as it uses farm credit disbursement as an important dimension of financial services. The study recommends that for improving agricultural productivity, financial services have to be made more efficient.Keywords: Financial Sector Development, Agricultural Growth, Farm Credit Disbursement
International Research Conference on Business Management (IRCBM) 2017
Get PDFConference Theme“Fostering and Nurturing a Research Spirit in Students and Academiciansâ€The College of Management Sciences of the Pakistan Air Force-Karachi Institute of Economics and Technology (PAF-KIET) hosted its first International Research Conference on Business Management (IRCBM) 2017 on 18th and 19th July at the PAF-KIET Main Campus, Korangi Creek, Karachi.The Conference was attended by more than 60 participants, including three international keynote speakers from China and Nigeria. Dr. Yao Liming from Sichuan University, China, Dr. Chen Xudong from Chengdu University of Technology, China and Dr. Lookman Kolawole Subair from Lagos University, Nigeria, delivered their speeches on a range of topics. Five national keynote speakers from leading business schools of Karachi shared their views on the theme of the conference.President PAF-KIET, Air Vice Marshal (Retd) Tubrez Asif warmly welcomed all the participants and emphasized the importance of conferences for promoting research and development; a prerequisite for a progressive, prosperous and healthy society. The President also observed that these conferences provide ample opportunities to industry practitioners and academicians for developing sustained relationships necessary for addressing future challenges.In the end, the panelists appreciated the efforts of the organizing team and emphasized that such conferences should be held regularly for bridging the gap between academia and the industry
Colonization of Concept of Capitalistic Development in Post Colonial Societies
Get PDFThis paper examines the capitalistic concept of development that has been taken for granted, without any prior examination and critical investigation by post-colonial societies. Capitalism is not just an economic system rather it is an encompassing system that encompasses all aspect of life. It subsumes all other orders, remold all orders and aspects of life according to its own order i.e. capitalistic order. In addition, this paper will also argues that capitalism as an encompassing and subsuming all other systems is not a-historical or natural rather it is historical and has been injected in the colonial social fabric by the western settlers. This concept of development has been developed in modern west based on a particular conception of self i.e. capitalistic self hence the article at hand will inquire the metaphysical conceptions working behind this concept of development. In due process, the article will excavate this concept of development using Gustavo Esteva and Gilles Deluze to elaborate how capitalistic conception of development de-territorialize the social space and values where it emerges and than re-territorialize them through its own prism, resulting in a dilemma of freedom and a identity crises among the individuals of the Post Colonial World.Keywords: Capitalistic Self, Development, Colonization, De-territorialization / Re-territorializatio
Transformational Leadership and Employee Attributes
Get PDFIn the present age of innovation and technology diffusion, many organizations employ a diversified workforce. Past research suggests that a transformational leadership style is needed for managing a diversified workforce. This study examines the impact of transformational leadership on employee engagement, employee performance, self-efficacy, organizational commitment, job satisfaction and employee creativity in the banking sector of Pakistan. The valid sample size for the study was 92, with a response rate of 92%. The questionnaire was adopted from earlier studies. The results indicate that transformational leadership does not have a statistically significant influence on self-efficacy and organizational commitment. On the contrary, transformational leadership has a strong effect on employee engagement (R2 = .61), employee performance (R2 = .57), employee creativity (R2 = .52) and job satisfaction (R2 = .52).Keywords: Transformational Leadership, Employee Performance, Job Satisfaction, Employee Engagement, Organizational Commitment, Employee Creativity, Self-Efficacy
Supply Chain Management: Reducing the Bullwhip Effect in SME’s
Get PDFEffective supply chain management is critical for mitigating the Bullwhip Ejfect (BWE) in SME’s. Thus, this study examines how order batching, lead time, rationing, demand forecasting errors, information sharing and sale promotions aï¬ect the Bullwhip ejfect. Primary data was collected through questionnaires from 150 respondents belonging to business organizations operating in Karachi. The study ï¬nds that demand forecasting, order batching, rationing, lead-time, sales promotions and information sharing are major factors aï¬ecting the bullwhip ejfect. ln view of these findings, organizations should seek to manage the bullwhip effect through sharing real time information and maintaining a centralized supply chain network.Keywords: Bull Whip Ejfect, Supply Chain Management
Factors Affecting Teachers Job Satisfaction
Get PDFTeachers in Pakistan and across the world are generally not satisfied with their jobs. This leads towards high turnover and adverse performance. This study has measured the effects of work goals, self-efficacy, positive effect, working conditions, and goal support on teacher’s job satisfaction. The scope of the study was restricted to the school teachers of Karachi. A selfadministered questionnaire from the literature was adapted for the study. The developed model was tested through SEM. Prior to estimating the hypothesized model, the normality, reliability, and validity of the constructs on the present data set was checked. The results suggest that selfefficacy has a strong effect on job satisfaction followed by positive effect and working conditions.Keywords: Job satisfaction, work goals, self-efficacy, goal support, positive effect, working conditions
Event Roundup: Global Conference on Business and Social Sciences Series (GCBSS) 2016
Get PDFGlobal Conference on Business and Social Sciences Series (GCBSS) 201
Antecedents to Brand Image
Get PDFSince Brand Image positions a product in the mind of consumers, it is important that the firm takes this into consideration. Physical and tangible differentiation is not sustainable as the competitors come up with the same or better tangible features with the passage of time. Comparatively, brand image being intangible cannot be copied. In view of its significance, the companies are now focusing on building and maintaining brand image. The aim of this study is to measure the effect of brand association, brand loyalty, perceived quality, brand awareness and brand satisfaction on the brand image. The sample size for this study was 180 with a respondent rate of 98%. The questionnaire adopted for this study has six constructs i.e. brand association, brand loyalty, perceived quality, brand awareness and brand satisfaction of the brand image. Each of the constructs has four items and is based on seven-point likert scale. After establishing the validity and reliability of the constructs, the developed model was tested through multiple regressions and was found relevant in explaining attitude towards brand image. It was also found that brand loyalty was the strongest predictor of brand image followed by brand association and perceived quality. These finding validates most of the earlier studies. As found in this study the earlier research also suggests strong brand association and brand awareness as a prerequisite for the formation of brand image, this must be backed up with high level of customer satisfaction for creating competitive advantage, profitability and high market share.Keywords: Brand image, Brand awareness, Brand Loyalty, Brand Association, Brand satisfaction, Perceived qualit
