Journals of UMT (University of Management and Technology, Lahore)
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Unraveling the Mystery of Default Prediction: A Study on the Textile Industry in Pakistan
No full textDefault events are inevitable in any economy and can have a considerable impact on economic stability. However, predicting defaults before occurrence has always been a challenging task for researchers around the world. In Pakistan, the textile industry experiences a high rate of default, which motivated us to conduct a study on predicting default in this sector. We analyzed data from 134 listed companies in the textile industry between 2000 and 2020, and segregated the industry into three sub-sectors (Composite, Spinning and Weaving with Textile Associated Products) for better analysis. After reviewing the literature, we identified five widely-used default prediction models which led us to perform a comparative study to validate their performance. Findings revealed that Grover’s G-Score Model was the best predictor of default, followed by Springate’s S-Score Model based on both model accuracy and model validation. However, it is important to note that our study is limited to the textile sector and future studies could include other sectors and more advanced methods to improve accuracy. This study can be useful for investors and financial analysts in assessing the risk of default in the textile industry and making informed investment decisions
Characterizing Circular Supply Chain Practices in Industry 5.0 With Respect to Sustainable Manufacturing Operations
Full text linkThe current research investigated the significance of circular supply chain practices in Industry 5.0 with respect to their sustainable manufacturing operations. Through a comprehensive review of the literature, the current study identified key circular supply chain practices and their potential benefits for Industry 5.0. The findings indicated that closed-loop supply chains, sustainable sourcing, product design for circularity, and waste reduction may assist Industry 5.0 firms to achieve their sustainability objectives while enhancing the operational efficiency. Moreover, the study also highlighted the challenges associated with the implementation of circular supply chain practices including the necessity for collaboration among supply chain partners, investment in new technologies and infrastructure, and the development of new skills and capabilities. From a practical and managerial perspective, the implications suggest that firms aiming to adopt circular supply chain practices in Industry 5.0 should prioritize collaboration and coordination, make investments in new technologies and infrastructure, and foster the acquisition of new skills and capabilities. To complement this research, future studies could employ empirical research methods in order to validate the findings and recommendations as well as explore potential barriers to the implementation of circular supply chain practices in Industry 5.0
Evaluating the effectiveness of foreign capital flows in mitigation of gender inequality in Developing countries
Full text linkOver the decades, foreign capital inflows (FCIs) have been contributing to the economic growth and development of underdeveloped and developing economies. However, it is imperative to inspect the effect of FCIs on gender inequality (GI). The latter includes SDG 5 which addresses the elimination of GI in all its forms. The existing empirical literature on the relationship between FCI-GI nexus shows mixed results. The current study scrutinized the effects of FCIs on GI in a panel of 71 developing economies for the time period 2001-2019. The study used the system generalized methods of moments (GMM) for model estimation. The positive and significant impact of remittances on G I was explored. It was found that official development assistance (ODA) caused an increase in GI in developing economies. The results showed that gross domestic product (GDP) and trade openness (TOP) increased GI. However, good governance was found to reduce GI in developing economies. The outcomes provide a guideline for the role of FCIs in reducing GI in developing economies
Role of Financial Remittances in Promoting Financial Development: Evidence from Nigeria
Full text linkThis research aims to investigate whether financial remittances contributed to financial development in Nigeria during the years 1981-2021. The study utilized a combination of descriptive and inferential statistical techniques to analyze the data. It employed Augmented-Dickey–Fuller unit root test, the ARDL bounds test, and subsequent post-estimation examinations. To evaluate the effect of financial remittances on financial development, the current research embraced both bank-related and capital market-oriented indices as indicators of financial development. Descriptive statistics revealed that Nigeria's economic structure leans towards a bank-centred model. Further, in comparison to Foreign Direct Investment (FDI), financial remittances take precedence. The empirical findings confirmed that financial remittances exert a significant influence on financial development over both short- and long-term
The Impact of Globalization and its Components on Health Outcomes: A Global Panel Data Analysis
Full text linkThis study investigated the impact of globalization and its three dimensions (economic, political, and social) on health by using a global panel data of 193 countries for the period 1971-2018. Health indicators incorporated into this study were life expectancy and infant mortality rate, while KOF index was taken as the indicator for globalization. Empirical analyses were performed by using ordinary least squares (OLS) and fixed-effects and random-effects models. Moreover, sensitivity analysis was used to check the robustness of the results. The results indicated that globalization, together with its three dimensions, has a positive impact on health, even if the analysis is controlled for population growth, physicians’ availability, and age dependency
Performance of Modality Tests on Existence of Bimodality
No full textIn this paper, the Robertson’s and Fryer’s (1969) conditions are applied for the existence of bimodality in the mixture of normals. Best modality test is the pre-requisite to evaluate whether the existing data is a unimodal or bimodal. On the same data the researchers also assessed the bimodality through modality tests. For this purpose the modality tests are compared on size and power properties designed by Monte Carlo simulation. After using the simulated critical values, the results showed that the entire modality tests have stable sizes. In power assesment, mostly the Silverman Bandwidth test was found the best test
Impact of Supply Chain Integration on Supply Chain Performance: Moderating Role of Supply Chain Flexibility.
Full text linkModern world is more uncertain than ever before. Organizations need to identify the capabilities needed to gain competitive advantage under these uncertain conditions. Supply chain integration is such a capability that may help a firm achieve competitive advantage under uncertain market conditions. The current study evaluated the multidimensional role of supply chain integration in supply chain performance. The moderating role of supply chain flexibility between different dimensions of supply chain integration and supply chain performance was also considered. Based on the data gathered from Pakistani manufacturing firms, structural equation modeling (SEM) was used to test the hypothesized model. The results showed that internal integration and supplier integration represented a positive impact on supply chain performance. However, the moderating role of supply chain flexibility was determined to be significant only in the case of customer integration – supply chain performance relationship.  
Measuring Human Capital Development (HCD) Return on Investment (ROI), Risk, and Knowledge Gaps across selected Occupations in South Africa
Full text linkBusiness challenges are experienced while measuring the economic value of Human Capital Development (HCD) as compared to their overall business performance and profitability. The HCD measurement challenge may be attributed to the knowledge gap on HCD measurement among employees and managers. A quantitative survey (n = 210) measured and compared management and employee knowledge on HCD Return on Investment (ROI), HCD risks, and HCD risk solutions in South Africa. Respondents ranged across occupational categories from various organizations. The findings indicated an awareness of HCD ROI measurement, risk, and risk remedies. However, there were deviations in that knowledge across occupational categories. General managers and entrepreneurs have better knowledge of HCD ROI measurement, risk identification, and risk remedies as compared to other occupations. HR, financial, hospitality, and learning and development professionals showed the lowest mean scores. The current study contributed to measure HCD ROI, risk, and occupational HCD knowledge gaps. The practical implication and contribution of the study was that managers and employees were made aware of the significance of measuring HCD ROI, risk, and remedies across all occupations. Moreover, further research is recommended to expand the research instrument and measure HCD knowledge across occupations in other countries in Africa and across the globe
Uncertainty in Fiscal and Monetary Policy and its Impact on Economic Growth: An Analysis from Pakistan
Full text linkUncertainty or shocks in macroeconomic policies have been a debated issue all over the world because these shocks severely influence the growth of economies. To analyze the impacts of these shocks in the context of Pakistan, the current study determined the role of fiscal and monetary policy uncertainty by taking the time series data for the period 1971-2020. In this regard, GARCH and ARDL cointegration model were applied. Empirical evidence revealed that in the long-run, fiscal uncertainty in terms of government expenditure positively affects the economy and monetary uncertainty in terms of money supply negatively affects the economy. While, in the short-run, uncertainty of both policies has a negative influence on the economic growth of Pakistan. The study also gauged other factors, such as, exchange rate, interest rate, and inflation with respect to their impact on economic growth. It was found that these factors positively and significantly sway growth in the long-run
Pakistan’s Trade Policies, Non-Tariff Measures and Concerns Of Stakeholders
Full text linkPakistan can increase its exports by 12 billion dollars till 2024 if integration with international market is improved, and strong linkages are developed among value chains (ITC, 2020). But this potential development is facing impediments due to transparency issues, imposition of non-tariff measures, ambiguous regulations at home and lack of information among both importers and exporters. This paper is dedicated to the discussion of Pakistan’s trade policies, tariff structure, rules governing non-tariff measures, and discussion about the concerns of business community and other stakeholders on NTMs. Application of NTMs in Pakistan, and their shortcomings are also discussed in detail. Then based on these discussions some recommendations are forwarded. Study shows that most of the hurdles faced by traders are home borne. If regulations are made easier at home and mutual recognition of standards is acquired with partner countries, then across the border trade can become much easier