CSRC Publishing: Open Journal Systems (Center for Sustainability Research and Consultancy)
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Deciphering the Global Private Financial Flows
No full textCross border and inter country financial recourse is like a civilization hold. It is fundamentally important phenomenon to study. Purpose of this study is to investigate inter country global private financial flows in context of current financial regimes. Design of the study is quantitative based on a secondary data taken from website of World Development Indicators (WDI) 2020. A literature review of relevant studies extracted from renowned research databases is also integral part of the overall design of the study. For the purpose of analysis and investigation the study uses Grey Relational Analysis (GRA). GRA is a mathematical technique capable of handling a multitude of alternatives with plenty of criteria simultaneously. It is a ranking technique that generates the reference series, normalizes the data and compares the weighted average grey coefficients with reference series. GRA is a popular methodology espoused in grey systems theory. It is the study of eighty-three countries on the basis of five different criteria. The countries have been ranked according to Grey relational grades by using rank function of excel and are divided into seven different categories on the basis of intensity of financial flows. The categories have been made on the basis of ordinal scale e.g. exceptionally high level of private global financial flows, excellent, very good, good, fair, poor and very poor. Results show that China, Niger, Brazil, Mozambique, Mongolia, St. Vincent and the Grenadines, Cambodia, Grenada, Thailand, Indonesia, Argentina and Maldives have exceptionally high private financial flows, whereas, countries namely Lesotho, Kazakhstan, Uzbekistan, Botswana, Guatemala, Solomon Islands, Afghanistan, Bolivia, Bhutan, Angola and Russian Federation have poor financial flows. Majorly, Arabian Countries (AC), Organization for Economic Co-operation and Development (OECD) and Union of South American Nations (UNASUR) countries fall under exceptionally high ensign, whereas, member countries of Economic Cooperation Organization (ECO) and Southern Africa Development Community (SADC) countries fall under very poor ensign. This study is useful for political governments, international agencies, researchers and academia (students and teachers of international finance). It also provides new information and deeper insights by way of assigning grey relational grades to countries and classifies them into seven groups. It also extends discussion to enlighten upon bloc level position.
 
The Impact of Behavioral Finance Factors and the Mediating Effect of Investment Behavior on Individual’s Financial Well-being: Empirical Evidence from Pakistan
No full textIndividual financial well-being is recognized as a major concern for the general welfare and social welfare of society. In this context, it is very important to understand how people can ensure good financial well-being. This article aims to explore the effects of financial literacy, risk tolerance, and risk perception on the financial well-being of individuals, with an emphasis on behavioral investment interventions. Quantitative research methods are used to measure the factors that affect financial well-being. A questionnaire was developed on Google Forms to collect data from people who have bank accounts. The sample of 318 Pakistanis supports the proposed hypothesis. Structural equation modeling (SEM) was used to evaluate the results. The results show that risk tolerance, risk perception and financial literacy influence people's investment behavior and ultimately their financial well-being. Individual financial behavior needs to be improved. In this context, there is an urgent need for financial education programs in the education system and centers of employment, behavioral development and financial literacy.
Future research on this topic could benefit from collecting longitudinal data which could provide more relevant information for Pakistanis seeking to achieve better financial well-being. All measures used are reported separately and individually, measuring the risk that respondents will misinterpret questions and even interpret their behavior
Corporate Tax Operating Cash flow and Sales Growth and their Impact on Dividend Payout Ratio in Oil and Gas Companies Listed in Karachi Stock Exchange (KSE)
No full textPurpose: The purpose of this study is to comprehend the dynamics of dividend payout in Pakistan’s oil and gas sector. This study is an attempt to differentiate that what are factors force firms to distribute dividends instead of enhancing retained earnings. To draw the required results 13 listed oil and gas companies have been incorporated in this study and their 5 years’ data has been studied.
Design/Methodology/Approach: This study is quantitative and secondary data has been used to extract results. The sources of the data are financial statements of the companies under study. Fixed and random effects of regression were used for data analysis.
Findings: Based on this study, it can be concluded that the independent variables selected in this model have the power to explain the dependent variable by 45%, which means the results generated through this study can be given importance accordingly in the oil and gas sector of Pakistan. The explanatory variables were identified from the prior literature and then their impact on dividend payout ratio was studied.
Implications/Originality/Value: It is evident from the results of the study that management can take necessary steps to formulate a mutually beneficial dividend policy that can enhance the strength and effectiveness of these explanatory variables to enforce a dividend policy that fulfils the expectations of both the investors and the company. The investors can also evaluate different factors that might have an impact on dividend distribution and they can also get the ability to determine dividend payout ratio which made the basis for decision making for investment in the given sector
A Comparative Study of Southern Punjab and Balochistan SMEs Success vs Failure Factors
No full textPurpose: SME’s in Pakistan like developed economies play crucial role in the economic development and sustainability as long as entrepreneurs should be mindful about SME’s success and failure factors. In the extant literature, particularly in Pakistan, there is a lack of studies that have been empirically examined the comparative factors of Southern Punjab and Balochistan this setting particularly in Pakistan. The current study has focused on the comparative analysis of success or failure of Southern Punjab and Balochistan SME’s. The purpose of paper is to examine the aspects of SMEs that are central to their success/failure functioning in both areas of Pakistan.
Design/Methodology/Approach: Data was collected through a questionnaire using the Lussier’s Model of success or failure factors among the owners of successful and unsuccessful SMEs. The researchers collected 200 questionnaires from SMEs. Data was analyzed by using the logistic regression technique. Findings: Results of the current study showed that management experience, planning, professional advice, staff, product and services, marketing, and age are important for the viability and success of SME’s operating in Southern Punjab. In Balochistan, management experience, planning, professional advice, education, marketing are significant for the success/failure of SME’s.
Implications/Originality/Value: Thus, this study adds value to the knowledge to enhance understanding in “why some businesses succeed and others fail” by using Lussier’s Model. The results of the study assist policymakers in developing the programs that enhance the SME’s promotion, establishment, and development. 
Evaluating the Impact of Behavioral Factors on Purchase Intention of Green Products in Pakistan
No full textPurpose: Today, global warming is one of the most pressing issues facing the world, and it is primarily caused by greenhouse gases. Thus, the development of green products is one of the industrial endeavors to address this dilemma by permitting at least partial proportionate decrease in global-gas-emissions. Determinants of customer purchasing intention for green products are examined in this study.
Design/Methodology/Approach: For conducting this research, the data is gathered from 304 respondents. SPSS is used for descriptive analysis and inferential analysis using the software Smart PLS 3. The provided hypothesis was analyzed in two-step approach using partial least squares structural equation modeling (Smart-PLS 3).
Findings: The findings revealed that ATGP and SN do not significantly influence purchase intention but have an indirect impact on it. WTP has a significant mediation between ATGP, SN and GPI, while EC are seen to predict directly and indirectly GPI.
Implications/Originality/Value: To explain the effect of behavioral factors on green purchasing intention, this study uses willingness to pay as a mediator to add environmental concern as a predictor to the standard TPB behavioral model. The novelty of the study is evaluating the mediating impact of willingness to pay more
Fiscal Decentralization and Gender Parity in Education: Empirical Evidence from Pakistan
No full textPurpose: Fiscal decentralization is an emerging phenomenon in Pakistan from the last few decades. A large number of studies have been investigated the socio-economic and political effects of fiscal decentralization in Pakistan. But none of the study has examined that how fiscal decentralization has affected gender parity in education in Pakistan.
Design/Methodology/Approach: This study empirically investigated the dynamic relationship between fiscal decentralization and gender equality in education by employing different measures of fiscal decentralization and used autoregressive distributed lag model (ARDL) bounds test approach for cointegration testing for the period of 1975 to 2020. The bounds tests suggest that the variables of interest are bound together in the long run when gender parity in education is dependent variable.
Findings: The long run relationship is also confirmed by the significance of associated equilibrium correction. The robust analysis of this study suggest that fiscal decentralization is improving gender equality in education particularly education expenditure decentralization and revenue decentralization.
Implications/Originality/Value: The results are important for fiscal policy formulation in public and social sector in Pakistan. Further, these results might be helpful for other developing countries that share a common experience in applying fiscal decentralization reforms and struggling to reduce gender disparity in education sector
China’s Development of Gwadar as a Regional Maritime Hub
No full textPurpose: This article aims at analyzing China’s development of Gwadar as a maritime hub in the region. Gwadar, after Karachi and Bin Qasim Port is the third seaport of Pakistan, which has a greater impact not only on Pakistan but also on regions, especially China. Moreover, the paper through light on the features of CPEC which connects Gwadar with China. Challenges which Gwadar has to face in the near future are also analyzed.
Methodology: Qualitative and analytical method is used to conduct this research.
Findings: The paper concludes that Gwadar is a potential maritime economic hub in the region.
Implications: Hence, the joint venture will not only bring multiple benefits to China-Pakistan but also bring opportunities to the adjacent regions: Central Asia, Middle East and Persian Gulf
Analysis of Livelihoods and Food Security among Rural Households of Khyber Pakhtunkhwa, Pakistan
No full textPurpose: This study was an effort with the aim to study livelihoods and food security status in rural areas of Khyber Pakhtunkhwa province, Pakistan.
Design/Methodology/Approach: Three districts of the province were confined and research data from randomly selected 336 households were collected. Livelihoods was analyzed by investigating livelihood strategies pursued by the households while food security status was measured through calorie intake method.
Findings: The study examined that diversified livelihood strategies were pursued by the households; and noticed that farm was the prime strategy of 34.52% households while non-farm was the strategy of 65.48% households The incidence of food secure and insecure households was 57.44% and 42.56%, respectively; and FSI of the food secure households averaged 1.26 and food insecure households averaged 0.79.
Implications/Originality/Value: There is dire need to provide opportunities for a sustainable livelihood strategy at household level that could ultimately move them from worse to better food security status
Pressure Groups and Free Press: Downsizing in News Organizations and Future of Traditional Media in Pakistan
No full textPurpose: News media in third world countries remained under social, religious, political and military pressure. Developing countries in presence of pressure groups cannot enjoy the fruits of a democratic setup. So, the purpose of study is to explore factors of downsizing in traditional media organizations and their future in wake of pressure groups, which create hindrance in freedom of expression.
Design/ Methodology/ Approach: Qualitative approach was employed to explore the causes behind the undesired downsizing. Researchers chosen 15 respondents working on senior positions in different traditional media organization from different stations of Pakistan including Islamabad, Lahore, Multan, Bahawalpur and Karachi based on purposive sampling.
Findings: Results revealed the incumbent government changed its stance on freedom of expression and adopted each modus operandi to silence the voices from journalistic corners. The government promoted selective part of freedom of expression by highlighting the anchors speaking in favor of the party.
Implications/ Originality/ Value: So, the study concluded traditional media organizations should be reorganized and government should extend its democratic support for protecting freedom of expression. The study recommended the government should remain impartial and provide space to traditional news organizations so that the citizens should be provided with right to know
Analyzing the Financial Trends of Islamic and Non Islamic Emerging Markets of South Asia
No full textThe aim of the study is to explore the trends of organizations performance of Islamic and Non-Islamic South Asian countries. Out of 8 south Asian countries, 4 were selected those play a vital role in economic development of south Asia. Pakistan and Bangladesh were taken as Islamic ruling countries, whereas, India and Sri Lanka were taken as non-Islamic countries. 10 years of data before COVID-19 pandemic from organizations listed in stock markets were gathered on annual basis. Efficiency and profitability ratios were taken as variables. Augmented dickey fuller unit root test was used to interpret the stationary in data. Data was found volatile in South Asian countries organization in terms of efficiency and profitability ratios. Results revealed that purchasing power among people of South Asia increased in terms of buying commodities as the stationarity in stock inventory did not investigate and it inclined with consistent growth gradually. Future studies are possible with a different methodology (graphical representation and other associations) and contexts (other than South Asia) with induction of sample size