CSRC Publishing: Open Journal Systems (Center for Sustainability Research and Consultancy)
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Impact of Demographic Variables on Economic Growth in South Asian Countries: A Panel Data Analysis
No full textThis study find the impact of demographic variables on economic growth in selected South Asian countries; Pakistan, India, Bangladesh and Sri-Lanka using panel data from 1976 to 2017. Fertility rate and life expectancy are used as demographic variables and GDP is used to indicate the economic growth. Panel unit root tests including Levin-Lin & Chu, Im-Pesaran & Shin, ADF-Fisher χ2, PP-Fisher χ2 are applied to check the stationary of variables. Pedroni and Kao Panel Co-integration are employed to test the co-integration among variables. Fully Modified Ordinary Least Squares (FMOLS) estimators are obtained for long run relationship. Results show that total fertility rate and life expectancy have significant impact on economic growth in these four South Asian countries. For example, one unit increase in total fertility rate depresses the economic growth by 0.106 units. However, economic growth is accelerated by 0.196 units due to one year increase in life expectancy
The Effect of Leverage and Debt Maturity on the Corporate Financial Performance: Evidence from Non Financial Firms Listed at Pakistan Stock Exchange
No full textPurpose This study examined the effect of leverage, debt maturity on corporate financial performance of non-financial firms listed at the Pakistan Stock Exchange. Targeted population of this study was 100 firm listed at PSX as KSE-100 index out of which 74 non-financial firms were selected from 28 different sectors for the period of 5 years 2013 to 2017.
Design/Methodology/Approach: Financial performance measured by ROA, ROE, while leverage, short term leverage, long term leverage taken as independent variables, four variables were taken as control which are size, current ratio, sale growth, tangibility. On the basis of Hausman test, results of random effect model were found appropriate.
Findings: ST and LT Leverage have a negative significant and insignificant effect on financial performance (ROA) respectively, moreover long term leverage has a positive and significant but short has a negative and insignificant effect on ROE. The results of the control variables showed that size has a negative and significant effect on ROA and ROE, whereas current ratio has insignificant and negative effect on ROA, ROE. Sale growth has a positive and insignificant effect on firms ROA and ROE. Tangibility has insignificant and negative effect on financial performance.
Implications/Originality/Value: This study is consistent with traditional trade-off theory and recommended that management of the non-financial firms listed at the PSX should employ minimal debt level or use an optimal level of capital structure and also to attract good management thus to improve their financial performance
The Relationship between Employee Attitude Toward Change and Organizational Commitment: The Moderating Role of Psychological Defense Mechanisms
No full textPurpose: The purpose of this research was to determine which defense mechanisms can help to regulate the link between attitude toward change and organizational commitment. Psychological defenses are characterized as protective processes that help individuals maintain their integrity in the face of threat and danger. Previously, extant research has mainly emphasized organizational issues while individual psychological factors have remained largely ignored. Therefore, this paper seeks to investigate the moderating effects of psychological defense mechanisms on the relationship between employee attitude toward change and organizational commitment.
Design/Methodology/Approach: A total of 499 employees were chosen from the banks of the Southern Punjab, Pakistan, using a purposive sampling methodology. The information was gathered using validated questionnaires. The data was analyzed for descriptive statistics, correlation, and hierarchical multiple regression analysis.
Findings: The findings showed a positive correlation between employee positive attitude toward change and organizational commitment and a negative relationship between employee negative attitude toward change and organizational commitment. The results of the moderation analysis revealed that the association between employee attitude toward change and organizational commitment is negatively moderated by all three defense mechanisms.
Implications/Originality/Value: The findings highlight the significance of psychological factors during the organizational change process and suggests recruiting employees with positive attitudes
Work Engagement as a Consequence of Work Overload and Intimidation: The Moderating role of Spiritual Leadership and Organizational Climate
No full textPurpose The purpose of the study seeks to proposed and test a research model that investigates impact of work-overload on employee engagement and employee psychological wellbeing via mediating role of intimidation and moderating role of spiritual leadership and organizational climate by employing moderation-mediation- moderation model
Design/Methodology/Approach: The data was collected from 351 pharmaceutical employees working as sales force. The study issuing convenient sampling technique. Smart PLS-SEM was used for data analysis.
Findings: The result of SEM findings revealed that spiritual leadership fails to moderate the relationship in the perspective of existing framework whereas organization climate moderates the relationship between intimidation and employee engagement, which indicates that even the intimidated employees got engaged in their work in the presence of supportive organization climate.
Implications/Originality/Value: The study framework and methodology contribute in the existing literature and creates future horizons for the scholars. Longitudinal data might be valuable in future studies for establishing causal extrapolations between study variables. Future studies could benefit from incorporating cross-cultural study. Our insights can even be extended to employees in plenty of other workplaces wherein everyday organizational interactions are necessar
Influence of Capital Structure on Corporate Performance of Listed Firm in PSX: Role of External Factors
No full textPurpose: A company’s capital structure is a blend of its equity and debt financing and is considered a significant factor in the valuation of any firm. The decisions related to capital structure formation play an integral role for the firms, therefore; this research tends to explore the factors of capital structure and their impact on firm performance. For this purpose, financial data for different listed companies in PSX has been gathered, and dividends and taxes are used as firm external factors.
Design/Methodology/Approach: To examine the impact, the panel data has been used for the period 2016-2020 and panel least square has been applied.
Findings: The findings suggest that among the variables current ratio, dividends, taxation, total debt to total equity ratio, and the firm size are statistically significant to profitability. The study also concludes that dividends and tax have a greater impact on capital structure and firm performance.
Implications/Originality/Value: Managers and owners of the firms must make sure that their profits are used for future investments rather than payment of debts to avoid bankruptcy.  
Relationship between Public Debt Burden and Health Expenditure in Sub-Saharan African Countries: The Role of Institutional Quality
Get PDFThe historically lower level of public health expenditure of sub-Saharan African (SSA) countries could be partly explained by the mounting debt burden of this region. This consumes a sizable proportion of their domestic resources to debt servicing and potentially decreases their overall budgetary allocations to various sectors in the economy and health expenditure in particular. Using the Generalized Method of Moments (GMM) approach on a sample of 43 sub-Saharan African countries, we examined the relationship between the public debt burden and health expenditure highlighting the role of institutional quality for the period 2000 – 2014. The empirical result confirms that the relationship between public debt burden and health expenditure in sub-Saharan Africa is negative. Interestingly, however, the marginal effect of the relationship between the public debt burden and health expenditure has shown that such a negative relationship turns out to be positive when the quality of the institutions is at maximum. This suggests that the relationship between the public debt burden and health expenditure in sub-Saharan Africa is a function of institutional quality. Therefore, to minimize the negative impact of public debt on health expenditure in sub-Saharan Africa, governments should take determine stand to minimize its debt accumulation and intensify efforts toward the improvement of institutional quality in the region comprehensively
The Curve Of Cross Border Cartel Enforcement (Challenges and Remedies in Global Business Environment)
Get PDFThe purpose of this article stated that the global economic arena has taken new insights across the shore of nations. THE new economic challenges are waiting for the anti-trust enforcers to make sure strict compliance with the antitrust laws and in addition this dissertational work highlights the incipient violations across the borders and suggests its possible legel outcoms in the near future in order to make the economic market a level playing field for any business entrants. It particularly shed light on the cross border cartels and their effects on the relevant market, additionally we have taken the global view of the legislative aspects along with their de jure appliances and improvements for the proper economic growth under the auspices of legal framework. The ramification of cross border cartel enforcement has surfaced astoundingly between 1998 to 2015, underlining the earnest and prompt action to strengthen and revisit the competition law enforcement tools and proficiency. The technological advancements and liberalization of trade has risen significant challenges which includes the enforcement of cross border cartels and mergers. The globalization of corporate activities and deregulation of business markets and numerous industrial sectors has endangered the theoretical foundation of domestic and international competition enforcement regime. The transnational anticompetitive practices like monopolization of markets, collusive price fixing, vertical restraints of trade and international cartels currently challenged the jurisdiction and policies of OECD, WTO, UNCTAD, and ICN. This frightening situation necessarily be regularized by establishing worldwide competition policy and globally admirable enforcement standard. The weaknesses of unilateral, bilateral, and multilateral compacts be re-examined in order to cope with the cross- border competition challenges efficaciously. The extraterritorial, jurisdictional, and investigative mechanisms could be enclosed with binding nature of legal structures to deter cross border antitrust violations for smooth economic growth. The EU and US actively pursuing to establish the unanimous international antitrust regime instead of discrepancies to integrate WTO and ICN being multilateral cooperation forum. Currently, US, CANADA, EU, JAPAN and CHINA across the globe become more engaged in international cartels evidence gathering and investigations. The developments in information sharing, private enforcement, follow on civil litigation, dawn raids, extraterritorial reach of enforcement watchdog is yet to be established
Role of Banks in Money Laundering through Fake Bank Accounts and Writing off Loan in Pakistan: An Analytical Study
Get PDFPurpose: Recent media reports of money laundering through fake bank accounts implicate the involvement of banks in money laundering through "managed bank accounts". Further the waivers of loan of apparently sound institutions also give rise to specific questions and reservations on the role of banks. This paper attempts to explore the answer to those fundamental questions.
Design/Methodology/Approach: The research follows qualitative content analysis methods to critically analyze the role of banks in money laundering and loan waiver policies.
Findings: The research finds that despite of heavy banking regulations and laws the banking accounts are being used for money laundering. Further, the research concludes that the act of waiving off loans allegedly has provided a channel to misuse the public earned money, resulting in gross loss to the public exchequer.
Implications/Originality/Value: The research concludes that the role of bank in maintaining the fake/idle accounts and the loan waiver policy and its malafide usage in the banking sector resulted in financial frauds and money laundering in Pakista
Shariah Governance Characteristics and Risk-Taking of Local and Foreign Islamic Banks in Malaysia: A Conceptual Model
Get PDFPurpose: In Malaysia, since the global financial crisis in 2007 and 2008, the low level of stability, excessive risk-taking and weak governance structure in the dual banking system has become essential for deliberation. The purpose of this research is to develop a conceptual model on the effect of Shariah governance characteristics on risk-taking between local and foreign of Islamic banks in Malaysia.
Design/Methodology/Approach: Based on prior review of indicators and findings, this research proposes a conceptual model of effective Shariah governance characteristics and its effect on risk-taking of Islamic banks. A self-develop of Shariah board index (SB-Index) based on SB size, education background, membership with IFSB and attendance in meeting. Insolvency risk, credit risk and liquidity risk are the proxy used for risk-taking measurement. The theory of stewardship and resource dependency theory are used as examples of the theories of corporate governance to support the conceptual framework suggested.
Findings: The Islamic banks in Malaysia are assumed to have effective Shariah governance and there will be low impact on risk-taking.
Implications/Originality/Value: The regulators of Islamic banks must prepare for the need to improve the current standards for corporate governance in Malaysia
Interrogating the Nexus between Party Politics and Party Institutionalization in Nigeria
Get PDFThis article critically examines the nature of party politics in Nigeria since the inception of the Fourth Republic. It contends that party politics in Nigeria's Fourth Republic is characterised by dysfunctional evolution of political parties, lack of unity and focus, electoral fraud, lack of internal party democracy, intergovernmental disharmony, political violence, ideological deficit, gross indiscipline and elite antagonism. The article is methodologically conceptual. Relevant secondary data comprising of journal articles, textbooks, workshop papers, and national dailies were consulted. The article discovered that party politics in Nigeria's Fourth Republic is highly defective and volatile, thus forestalling party institutionalization and, by extension, democratic stability. The article concludes with recommendations on how Nigeria's party politics could be redefined to facilitate party institutionalization and improve the quality of democratic governanc