CSRC Publishing: Open Journal Systems (Center for Sustainability Research and Consultancy)
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1354 research outputs found
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Value Risk Premium and Stock Returns in Kenya: Exploring the Moderating Effect of Investor Sentiment
No full textPurpose:Prior literature has focused on the direct effect of firm level fundamental characteristics on stock returns while ignoring the likely effect of investor irrationality on asset pricing decisions. The purpose of this study is to investigate the role of investor sentiment in the relationship between value risk premium and stock returns in Kenya.
Design/methodology/approach:
The study utilized monthly time series data for 60 companies listed at the NSE over the recent 9 years from 2011-2019. The study employed time series regression using ARDL and VEC estimation techniques to examine whether the effect of value risk on stock returns will vary with level of investor sentiment.
Findings: Results show weak evidence for existence of value risk premium at the NSE using the main effects model. The pricing effect of value risk premium is however enhanced in the interaction model. The interaction though not significant implying that there is no moderating effect of sentiment.
Research limitations: The shorter nine-year period considered by the study could be a source of small sample bias in the estimation. Sample periods for studies in mature markets span for over decades. In this light, making comparison of the findings in this thesis with those of other related studies may not be feasible.
Originality/Value: This study is first of its kind to analyze the moderating effect of investor behavior on asset pricing for an emerging market. The paper contributes to portfolio management and asset pricing literature for emerging markets
Endogeneity Quagmire Empirical Evidence from Telecommunication Industry of Pakistan
No full textPurpose: The research aims to analyze the particular quagmire of endogeneity by u panel data with the renowned challenge of limited periods.
Design/Methodology/Approach: This study employed panel data generalized method of moments (GMM) approach.
Findings: Results show a presence of a significant and a negative relationship between operational risk and management performance and returns, thereby emphasizing the importance of operational risk management for enhanced performance in light of the theory of performance frontiers introduced by Schmenner and Swink in 1998.
Implications/Originality/Value: The results suggest that the focus on operational risk management should be revitalized if the firms seeks an improved performance and a sustainable competitive advantage
What Factors Drive the Banks Systemic Risk among South Asian Countries?
No full textPurpose: This study designs to examine the determinants (size, liquidity ratio, leverage ratio, deposit ratio, asset growth, net interest income ratio and return on asset ratio) of bank’s systemic risk. We use the data of listed commercial banks of the South Asian countries (Pakistan, Bangladesh, and India).
Design/Methodology/Approach: The sample consists 30 banks from Bangladesh, 87 banks from India and 22 banks from Pakistan. This study covers the period from 2006 to 2018. The data is collected from the published annual reports of banks and stock exchanges of respective country. The panel data analysis is performed for the estimation of research models.
Findings: The findings demonstrate that larger banks contribute lower in the systemic risk of banks. Additionally, highly liquid banks enhance the systemic risk of the banking system. Moreover, the banks with greater reliance on the deposits, net interest income and with high return on asset reduce the systemic risk contribution of the banks.
Implications/Originality/Value: This study provides the justification to devise the banking policies like enhance the proportion of liquidity among assets, reliance on net interest income and promote the financing needs through deposits to limit the systemic risk contribution of the banking system.  
Impact of Tourism Receipts, FDI and Energy Usage on Economic Growth in South Asia
No full textPurpose: The study examines the significant and direct influence of FDI and tourism income on economic growth in selected South Asian countries. . Design/Methodology/Approach: The study has made use of ARDL regression methodology to analyze the influence of tourism receipts, FDI and energy usage on economic growth.Findings: This study shows a strong long-term FDI, tourist receipts, and energy links, whereas the effects of these variables are less valuable in the short term.Implications/Originality/Value: It is generally recognized that FDI accompanies general economic expansion, the development of tourism, and the use of energy around the globe. However, several empirical outcomes have been disclosed in a long-standing discussion. 
Expectations of PhDs Working in a Challenging School Environment: Results from a Qualitative Study
No full textPurpose: It is fortunate or unfortunate that PhDs are working as school teachers at different levels. It may be predicted that many PhD degree holders will be ready to join the School Education Department in near future while many candidates are completing their PhDs. The present study purports to explore expectations of PhDs working as school teachers and exploring the challenges they face while teaching in various schools of Sahiwal Division, Pakistan.
Design/Methodology/Approach: Participants’ lived experiences of working in schools were examined through the phenomenological approach of qualitative research. For this purpose, eleven PhDs were approached through a snowball sampling to gather data on the phenomenon employing the interviews.
Findings: The results emerged in the form of themes and sub-themes that include relationships with the school community, PhD teachers’ expectations (sub-themes: expectations from students and colleagues, expectations from education authorities, and expectations for professional development), and challenging school environment.
Implications/Originality/Value: The study implies the recognition of PhDs working as school teachers, their professional satisfaction, service structure and appropriate placement in the education syste
The Statistical Analysis of Factors Explaining the Intention of Public for Blood Donation in Jamshoro, Sindh
No full textPurpose: The purpose of this research is to determine different factors explaining the intention of public in context of blood donation in the district of Jamshoro, Sindh.
Methodology: The data were collected of 400 samples from four different tehsils of Jamshoro. The data was collected through well-structured questionnaire. The survey was conducted in 2019 and cluster sampling technique was used. The internal consistency of the questionnaire was examined, and Chi-Square test was applied for final analysis.
Findings: The public's willingness to donate blood is limited, according to this study (χ2 (1) = 0.88, p=0.39). The media does not perform any significant role in awareness generating and educating the general public about the importance of donating blood (χ2 (1) = 24.35, p=0.001). Women make up a small percentage of blood donors in society (χ2 (1) = 0.05, p=0.82). This research also compares blood donors and non-donors based on gender and age. The contribution of blood donors in younger age was higher (χ2 (3) = 19.31, p=0.01) in males (χ2 (1) = 27.98, p=0.001).
Conclusion: The awareness of blood donation was higher in males, higher education, and young age peoples (18-28) years. Furthermore, the awareness about blood donation should be made known through electronic and print media along with the educational programs at educational institutions.
Blood bank lab assistants should be given training to keep up to date with the latest information on blood donation, samples, and screening tests
Financial Health and Exports Sales: Evidence from Pakistan’s Manufacturing Sector
No full textPurpose: Many developing countries are espousing export promotion strategies for accelerating growth. All the firms in a country are not exporting due to various factors and characteristics. One of the factors is finance or balance sheet that affects the investment decisions and export tendencies and intensities of the firms. This study aims to explain the link between financial health and exports sales.
Design/Methodology/Approach: We have applied the fixed-effect model and Granger Causality test to find the results. We have taken the data of 190 firms related to the manufacturing sector of Pakistan from 2005 to 2016.
Findings: We have taken four financial ratios to measure the financial health of the manufacturing sector of Pakistan. Debt to equity ratio and financial leverage ratio has shown negative sign with the exports sales while coverage ratio and liquidity ratio have appeared with a positive sign with exports sales. Moreover, the effect of total assets, concentration ratio, capital-output ratio and exchange rate have also been probed.
Implications/Originality/Value: The study suggests that the financial health of the firm is an important factor in determining export sales so the financial health of the firm should be good and sound so that export sales may be enhance
Impact of Multimedia on Teaching – Learning Process at Public Sector Primary Schools (grade 5th) in Quetta, Balochistan
No full textPurpose: This era is the era of technology, rapid increase in the knowledge needs technology for its effective communication. This research focused on the use of multimedia and its impact on teaching-learning process.
Methodology: The pre-test and post-test experimental design was used in this study. The results of the screening tests and the test scores of the assessed and investigated class were verified to determine the learning outcomes reached between the two groups. Sample of the study was 200. 100 male and 100 female students from 5th grade were selected as sample of this study. Multimedia was used in Pakistan Studies’ teaching. Different difficult topics e.g. map, rivers and their locations, land and its types, etc. were taught by the use of multimedia, which supports the videos and graphical colorful images. The data was analyzed by using statistical package, paired sample t-test.
Findings: The results highlights the use of multimedia as powerful agent in enhancing the teaching-learning process and motivating the students towards learning.
Implication: Policy makers should emphsized on usage of multimedia in Govt. primary schools. Its a technology should be used as essential part of the teaching as It make the learning not only joyful but also provide in-depth understandings of the difficult concepts
From Bowls to Arms: The Almajiri School System and the Challenges of Internal Security in Niger State, Nigeria.
No full textBackground: insecurity has become a watchword in humanities; social sciences and a societal problem that has led to the destruction of human lives and acquired property worth millions of dollars. Historically, periarticular in pre-colonial Nigeria, practical modalities were put in place and monitored the welfare of the Almajiri children. Unfortunately, this beautiful system was later shortened by western colonialism. The paper x-rayed the nexus between Almajiri and internal security in Niger State, Nigeria.
Objective: The paper x-rayed the nexus between Almajiri and internal security in Niger State, Nigeria.
Method: The paper used a survey design in which data were gathered through personal observations by the authors and also the use of an in-depth interview of selected respondents.
Findings: The study discovered that the cultural practice in which parents especially from the countryside send their children at a very tender age to the cities under the Almajiri school system paves way for the concentration of a large youth cohort with a strong sense of identity in those cities, in which factors such as unfavorable economic, poverty and political atmosphere combines with the prevailing cultural resistance against western education and value system to facilitate the process of radicalizing these youths.
Implications/Originality/Value: the study argued that it is important for the Nigerian state to come up with a policy for compulsory and free primary and secondary school for all the Almajirai and not in separate schools as it is at present being practiced but in an inclusive one
Madaris in Pakistan: Religious and Social Challenges
No full textPurpose: The nature and extent of religious and social challenges posed by the madaris have been studied by scholars on a micro level, but there is a need of methodologically investigating of the problems on a macro and global levels by using a multi-disciplinary and collaborative approach to readdress these issues. The purpose of this research paper is to find out the role of for causing militancy in Pakistan and to recommend measures/strategies for de-radicalization in Pakistan.
Design/Methodology/Approach: Agenda setting, priming and farming theories were used in this study. Qualitative content analysis method was used in this study to analyze the editorial policy of these three newspapers.
Findings: The results revealed that all these three newspapers gave significant coverage to the peace talks issue but Nation gave more coverage to the issue. Findings also revealed that Dawn and The News, most of the time showed neutral behavior but tilted towards unfavorable position regarding peace talks. Nation showed strongly unfavorable behavior regarding peace talks.
Implications/Originality/Value: So it is concluded that the government should take steps to take madaris in main stream education system in Pakistan. The funding should be checked and audited