Market Forces (Journal of Management, Business and Economics, College of Management Science, PAF-KIET)
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Keynes Is Back: Global Economic Depression Monetary Policy Operations Fy-08 & Fy-09 Pakistan's Economic Scenario
No full text"[The financial crises] are caused by excesses frequently monetary excesses—which lead to a boom and an inevitable bust". Taylor (2009)The paper presents economic explanation of recessionary shocks and convergence mechanism within the context of Keynesian and Classical Economic Theory. The paper also discuses the global counter-cyclical measures to avert the recent 2008s economic depression which started from US sub prime mortgage and spread all over the European and, then the Emerging market economies especially through trade channels.In the context of Pakistan's economy, the major focus of the paper is on the inflationary stance which is not confined to the monetary growth, rather it is a related to a number of internal and external factors. The paper while reviewing the monetary policy measures of the State Bank of Pakistan over the period of 2007-08 & 2008-09, emphasizes the fact that monetary policy measures cannot show fruitful results to arrest inflationary pressures without effective management of supply side improvements and strict administrative price controls in the economy. Moreover, inflation up to the single digit can not be declined through the use of higher discount rate in the presence of higher cost of living, low pass through of decline in international oil prices to end consumers, higher wheat support price, and depreciation of rupee against basket of competitors' currencies in the economy
Total Quality Management/ Total Quality Leadership in Sales
No full textIntroductionThe main idea of Total Quality Management (TQL) and Total Quality Leadership (TQL) revolves around continuous improvement. The processes require that informed and enlightened management and leadership apply measurement standards to assess the business areas that are operating outside the expected levels. Once identified, then the next step is to introduce modifications that are targeted at improving results
Innovators Vs Laggards: Do they differ in the product adoption behavior? - An investigation in the Indian context
No full textAbstractPersonal computer market is a undergoing a boom in the Indian sector. The burgeoning market potential for personal computers particularly in the household segment is attracting the increased attention amongglobal players. However not all household customers adopt personal computers at the same point of time. Against this context, this paper attempts to investigate the difference in the adoption behavior of innovators and laggards. The study assumes the nature of explorative research design and is based on primary data collected through interviews scheduled from 108 respondents who have adopted personal computers at different periods of the time scale. The study findings highlight the need for adopter centered strategies in framing marketing strategies so as to enhance the diffusion of personal computers in the Indian context
English Language Testing in Higher Education of Pakistan
Get PDFINTRODUCTIONIn the past testing and teaching were deemed as two separate entities. This is the reason that efforts to set directions and foci required for making them productive remained unsuccessful until the emergence of English as an International Language (EIL). It was this development that pushed the concept of language testing forward to the re-conceptualization and upholding their inseparable relationship. This correlation becomes a core issue when it comes to English language learners and is impossible to analyze either of them without referring to the other (Heaton, 1988). The aim of this paper is to help English language coordinators understand the concomitant role of decentralized testing and to create positive effects on classroom teaching. To squeeze all that goes under centralized language testing within the confines of the present paper would be neither possible nor desirable
Mutual Fund Growth Analysis And Risk Minimization
No full textAbstractMutual fund is the most popular mode of investment at the stock market and its performance evaluation is a topic of immense interest for both investors and academics. This paper provides an overview of the Pakistani Mutual Fund industry and investigates the mutual funds risk adjusted performance using pertinent performance evaluation models. The focus of the study is on open end mutual funds consisting of equity, income, balanced, Islamic equity, asset allocation and money market funds.Mutual fund industry in Pakistan is still in developing phase. The investors adopt a conservative approach as is evident from the beta derived in the research paper. This paper examines the performance of mutual funds over the span of five years using Sharpe and Treynor models to analyze portfolio performance and investigates the relationship between the mutual funds and market portfolio (KSE 100 Index). The paper further focuses on the critical ratios relevant to mutual funds namely net asset value, number of shares outstanding, return per unit of risk, standard deviation and beta as risks measure.The paper proceeds as follows: Section 1 gives Introduction, Section 2 indicates the Objective, Section 3 provides Theoretical background information. Section 4 presents Literature review on empirical studies, Section 5 contains Research Statement, Section 6 states the Research Methodology used in the analysis while Section 7 pertains to computational Analysis of the Models. Section 8 summarizes the Result, Section 9 contains Limitation of the study and Section 10 concludes the research.On an overall basis funds industry has outperformed the market proxy by 0.86 percent, indicating defensive investment by the investors. Pakistan's Mutual Fund industry has a Sharpe ratio of 0.475 as compared to market risk premium of 0.27 per one percent of standard deviation and Treynor ratio is 0.471. The result also identifies some of the funds that have underperformed.Hence overall results suggest that mutual funds industry has growth potentials even though some of the funds have underperformed due to inherent problem of non-diversification.Key words: Sharpe ratio, Treynor ratio, Risk measurement, Bench mark, Beta.Â
Telecommunication Trends in Pakistan
No full textPakistan's telecommunication market is one of the world's fastest growing industry. The Telecom sector is growing at a pace of 170% yearly. Pakistan has a population of more than 160 million and the number of mobile phone subscribers are 78.73 million as of January 2008. According to Pakistan Telecommunication Authority (PTA), 2.7 million subscribers are added monthly (ntcpk n.d.), The PTA expects the number to cross 100 million users by 2010 (Johnson n.d.).This paper presents Telecommunication trends in Pakistan with a focus on: one, the economic development, and development trends of Pakistan telecommunication industry, two, Communication Infrastructure, three, Mobile phone adoption, four market survey and analysis, and five the teledensity comparison of Pakistan with other South Asian countries
A STAR THAT COLLAPSED INTO A BLACKHOLE: CASE STUDY ON PAKLAND CEMENT LIMITED
No full textPakland Cement is a rag-to-riches chronicle a leading Pakistani cement company. Due to imbalanced financial structure, imprudent leadership and speculative decision-making it became a candidate for a takeover in 2004. Companies ran by CEO's who are able to shift gears quickly in the face of rapid succession of events are able to survive economic downturn and continue as a going concern. Family owned businesses which are ran by owner managers are generally in cumbered by their management philosophy which is based on tried and tested methods that have served them well in the past. They are therefore unable to meet the challenges of today's rapidly changing market conditions which leads to either the closure of their business or its takeover by more efficient companies. One was controlling the separation of ownership and control and the induction of professionals in the top management.The Code of Corporate Governance which has been institutionalked the world over also provides a ray of hope forprivate concerns which have turned public. The need for the hour is the enforcement of this Code in letter and spirit not only to safeguard the public interest but also to ensure good health of the company.Keywords: Cement Industry; Strategies: Managerial deficiencie
An Empirical Analysis Of Impulsive Buying Behavior In Pakistan
No full textThe purpose of this research was to identify the variables related to impulsive buying, identify the relationships of these variables, ascertain their validity in Pakistan and empirically test the derived hypotheses. The dependent and independent variables of this study are impulsive buying behavior, individualism, collectivism, moods and proximity. Based on the above variables a close ended questionnaire was developed containing two to three sub-variables. The questionnaire was administered to the pre-selected affluent areas of Karachi which were Defence, Clifton, PECHS, North Nazimabad, Bhadrabad and Bath Island. The sample size for this study was 180. Quota sampling was used for drawing the samples. The developed hypotheses were tested through techniques such as regression, Z-test two sample, F-test two samples, and t-test two samples, of which three were accepted and two were rejected.Keywords: Impulsive buying, individualism, collectivism, mood, proximity, gender, age group, marital status
Why Did I Become An Entrepreneur: Case Study on S. M. Asad ul Haq
Get PDFIntroduction:Research papers on entrepreneurship generally discuss the characteristics and the psychological profile of entrepreneurs with the intent that people having certain qualities and personality traits are more likely to succeed as an entrepreneur. This is also the basis of psychometric tests that have been developed to evaluate one's potential to become an entrepreneur. These tests have been developed on the basis of research studies conducted to evaluate the psychometric profile of successful entrepreneurs. Such research however does not answer the question why some people with similar characteristics and similar psychological profile become entrepreneurs while others do not. It was with this intent that I have made an attempt to investigate into the events and the circumstances in the life of people who have become entrepreneurs. The basic premise is that it is not simply the characteristics and psychological profile of the person but more importantly the circumstances in the life of the person and that of his/her family that creates a situation which provides the thrust for one to take the initiative and the concomitant risk to start a business venture rather than to seek work as an employee in an organization
Qualitative Case Study Research in Africa and Asia: Challenges and Prospects
No full textMuch of the literature on research design has focused on research conducted in developed, uni-cultural or primarily English .speaking countries. Studies of qualitative case study research, the challenges and prospects, have been embedded in Western/Euro-centric society and social theories. Although there have been some theoretical studies, few empirical studies have been conducted to explore the nature of the challenges of qualitative case study in Africa and Asia. These challenges include: access to the organizations; conducting interviews in developing countries; accessing documents and observation of official meetings; language and cultural challenges in the local context; and gaining consent for the human research ethics committee from participants in different countries. Each of these five issues will be explored in the context of conducting qualitative case study research in Libya and Malaysia in order to make a contribution toward the literature in this area