Reviews of Management Sciences (RMS)
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Foreign Direct Investment, Non-Renewable Energy and Economic Growth: An Empirical Analysis from South Africa
Full text linkPurpose
This study aims to examine the connection between foreign direct investment, non-renewable energy, and economic growth in South Africa.
Methodology
The data was collected from the World Bank’s website from 1990 to 2020. The VECM and Granger causality approaches were employed to evaluate the connection between Economic growth, FDI, and Non-renewable energy.
Findings
The findings show that a long-term equilibrium relationship exists among the variables. Further, the result of the Vector Error Correction Model (VECM), shows a coefficient value of 0.0038 indicating the short-term adjustment speed of the system towards its long-run equilibrium. The result of Granger causality shows no bidirectional Granger causality among any of the variables. There is a Unidirectional Causality between GDPC and NRENW.
Conclusion
The study concluded that non-renewable energy can enhance economic growth in these countries, but it can aggravate the degradation of the environment. Essentially, foreign direct investment (FDI) significantly and negatively affects growth, suggesting that FDI entry into African nations negatively affects the environment
Spatial Analysis of Relative Poverty: A Case Study of Slum Areas of Karachi
Full text linkPurpose
This study aims to explore the reasons for the existence of relative poverty in Karachi, a metropolitan city in Pakistan.
Methodology
A self-administered survey was conducted on 375 households in eight, major slum areas in Karachi (Orangi Town, Manghopir, New Karachi, Surjani Town, Bangali Para Gulshan, Lyari, Malir, and Korangi). Logistic regression was used for the data analysis.
Findings
The results confirm that secondary education for males, the uneducated males, the bread-winning members, and children having no education significantly impacts the dependent variable, i.e., total family income. Whereas, tertiary education of children, secondary education of children, tertiary education of male households, and house possession have no impact on total family income. The result of Andrews and Hosmer-Leme confirms that the model is a good fit.
Conclusion
The study concludes that the basic cause of relative poverty is unequal access to education, a highly dependent population, and low-earning members. Unequal access to housing facilities is another significant factor that needs to be assessed.
The Rand, Interest Rate and Intervention by the South African Reserve Bank
Full text linkPurpose
The study has a twofold aim. The first is to assess whether the interventions explain the short-term fluctuations of the exchange rate of the rand and interest rate in South Africa. The second is to confirm whether intervention shocks transmit to the exchange rate and interest rate settings.
Methodology
Data from 1975 to 2020 was collected from the World Bank\u27s website. The research used the Vector Autoregression (VAR) model to investigate the relationship between interventions, the exchange rate of the rand, and interest rates. FEVD was also employed to examine whether intervention shocks have discernible effects on both the interest rate and the exchange rate of the rand.
Findings
The evidence identifies that reserve growth positively and significantly influences the exchange rate, indicating that intervention causes the depreciation of the rand. However, the reserve growth has a negative and insignificant impact on the interest rate, indicating that intervention was unable to explain the interest rate set by SARB. The significance of the cumulative effects on the exchange rate is evidence that the interventions explain the short-run stabilization of the exchange rate.
Conclusion
In conclusion, the findings of this analysis highlight a clear impact of interventions on exchange rates, while concurrently revealing a lack of statistically significant influence on interest rates. This research offers a policy that can inform future policy decisions related to interventions and the broader monetary framework governing the rand exchange rate
Corporate Social Responsibility through Collaboration in the Supply Chain: Insights into a More Sustainable Economy
Full text linkPurpose
The purpose of this study is to explore and analyze corporate social responsibility (CSR) as a helpful tool in solving significant societal concerns in countries where there is a greater desire for social and economic growth, such as Pakistan.
Methodology
In order to examine the current issues on supply chain collaboration for sustainability, this paper used a triangulation research method. In order to determine indicators in a CSR-intensive environment, data, and literature, the energy sector publications on EUR-Lex, international and European official papers, and the online site of the European Commission data sources were analyzed in this study. The indicators were divided into groups based on their sources (sets of standards and guidelines, council frameworks, document series, tools, and comprehensive legislation), as well as their intended uses (financial, social, and environmental).
Findings
The findings state that supply chain collaboration completely fulfills CSR for a viable economy. It focuses on three leading fashion brands and assesses their impact using open-source data, past research, and their official websites. It also highlights how, in comparison to global corporations, Pakistani business satisfies their corporate social responsibility.
Conclusion
It is concluded that a supply chain can help companies minimize the environmental impact of their supply chain processes. Further, CSR is a part of the supply chain that helps businesses determine their social and economic responsibilities by focusing on environmental aspects to add to a more sustainable economy
IMPACT OF FEMALE LABOR FORCE PARTICIPATION IN ECONOMIC DEVELOPMENT OF PAKISTAN
Full text linkPurpose
This paper tries to examine whether the labor force participation of the female population affects the growth of the economy.
Methodology
The sampling data was collected from the World Bank’s website from 1971 to 2018. The Johansen co-integration test and VECM model were used to examine the relationship between female labor force participation and economic development.
Findings
The result of the Johansen and Juselius Co-integration test showed the long-term relationship between Female Labor Force Participation and Economic Development. The finding also indicated that female labor force participation had a negative impact on GDP. The CUSUM stability test was used for the short-run stability adjustments. Results of the CUSUM stability test showed that the coefficients of ECM (-1) speed of adjustment were stable at a 5 percent significance level, there were no oscillations outside the critical level, and the CUSUM curve was above the origin line, which indicated the significance of our short-run dynamics.
Conclusion
The study concludes that female labor force participation has a significant negative impact on Pakistan’s GDP, this is due to societal and cultural norms as well as the religious dignity of women
Comparative Study of Pair Trading Techniques in Pakistan’s Financial and Non-Financial Sector
Full text linkPurpose:
This study attempts to empirically investigate the pair trading performance of financial and non-financial firms in Pakistan.
Methodology:
Daily data from 2008 to 2017 was collected for nine years. Cointegration and the distance approach were the two major analytical techniques used to evaluate the profitability of pair trading. The financial and non-financial sectors of the Pakistan Stock Exchange were used to build the pairs.
Findings:
Results showed that the top 5 pairs of portfolios exhibited the highest average excess returns of 0.0698, and Jensen\u27s alpha is 0.0947 for the top 5 pairs. All pairs of firms showed significant and positive risk-adjusted performance. In the non-financial sector, the Top 10 pairs of portfolios had the highest average excess returns of 0.0789, and Jensen\u27s alpha under the co-integration method for non-financial firms for all pairs 5, 10, 15, and 20 of the portfolios is also substantial and positive for risk-adjusted performance, with 0.0046, 0.0618, 0.0577, and 0.0493, respectively. Finally, pair trading under both techniques showed profitability. However, the co-integration technique exhibited better performance than the distance method.
Conclusion:
The study concluded that both pair trading techniques, particularly the co-integration technique, exhibited profitable pair trading performance that can assist investors and fund managers to earn positive returns on their investments regardless of market direction
Diversity Management and Organizational Performance in Pakistan
Full text linkPurpose
The main purpose of research is to examine the relationships between diversity management and organizational performance along with the fostering role of leadership dimensions.
Methodology
Diversity management practices have been measured using the EPDMP scale on a sample of 514 employees from organizations across Pakistan and data were collected from employees of universities. The PLS-SEM was used as the main technique for data analysis.
Findings
Results show that higher workforce diversity does not automatically produce inclusive climate-specific diversity inclusive leadership dimensions are required to support diversity environment where employees feel valued and appreciated. Further, the results confirm that the diversity-inclusive leadership dimensions moderate the relationship between diversity management and organizational performance.
Conclusions
The study concluded that diversity management has a positive and significant direct impact on organizational performance. Therefore, policymakers need to devise human resource statutes, rules, regulations, policies, and practices that promote a heterogeneous workforce in organizations and offer equal opportunities to all employees unrestricted by individual employee identities such as gender, race, ethnicity, education, religion, function, and abilities.
Practical implications
The findings are very helpful for HR managers for effective diversity management to enhance their organizational performance.
Originality/value:
The study explains the association of diversity management practices and organizational performance and moderating role of diversity leadership dimensions
A REVIEW OF EDUCATIONAL PROBLEMS IN RURAL AREAS OF SINDH WITH ROLE OF PRIVATE NGOs
No full textPurpose:
No country can fulfill its objectives without a well-educated labor force, and that is why education is such an important part of national growth and development. Education is a strong weapon for social transformation, but depriving it of fundamental necessities shows that it has failed. This study has been carried out just to know the education concerns of rural areas of Sindh with the important role of NGOs plays in a country\u27s growth for the development of its citizens\u27 moral, social, and cultural creativity.
Methodology:
The literature review has been done in the formation of this study while the approach taken in this literature review was motivated by the work of Suikkala and Leino-Kilpi (2001) and Evans (2002). The Google search engine and the Google Scholar database were used to discover articles and books published between January 1999 and January 2022. Only works first published in English were considered.
Findings:
Physical distance to school, teacher hiring in rural area, spotty internet access, poverty and non-entrepreneurial teachers are the challenges of the education system.
Conclusion:
Problems of education in rural areas exist not only in Pakistan but throughout the world while supporting role of private NGOs is the dire need of education system in rural Sind
Analysis of Sectoral Energy Demand in Pakistan
Full text linkPurpose
This research aims to estimate the energy demand for different sectors, including commercial, industrial, residential, transportation, and agriculture. For this purpose, various factors affecting the demand for energy in each sector have been analyzed.
Methodology
The adopted methodology is box Jenkins a systematic approach of identification, estimation, diagnostic checks, and forecasting of the model. This model is appropriate for time series data of medium to long-term length.
Findings
The data analysis outcomes specified that Pakistan\u27s energy demand mainly depends on five fuel types. Within each sector, the consumption of fuel varies. Results show that 86% of energy consumption share is held by transport oil, industrial gas, industrial coal, residential gas, and residential electricity.
Conclusion
The major issue in the energy sector is the demand-supply gap primarily caused by the gas and electricity deficit. Conclusively, sectoral demand increases in each sector where commercial, residential, and industrial energy demand has higher growth. Moreover, the price effect is negative for all variables except coal, making it a Giffen goo
The Casualty Evidence for Interest Rates and SME’s Outputs Relation from A Developing Economy
Full text linkPurpose
Small and medium-scale enterprises (SMEs) play a significant role in many economies. Governments often employ various policies, especially monetary policy, to support their operations. This study aims to illustrate the interdependence between SMEs\u27 output growth and monetary policy instruments, specifically the interest rate.
Methodology
The study utilized data spanning 1980 to 2021 to investigate evidence of symmetric Granger causality and asymmetric causality between interest rates and SMEs\u27 outputs in Nigeria.
Findings
The symmetric approach reveals unidirectional causality evidence from the interest rate to SME output, without potential feedback effects. The asymmetric causality demonstrates that both positive and negative shocks in interest rates drive shocks in SMEs\u27 outputs, but not vice versa.
Conclusion
The study concludes, among other findings, that to enhance the impact of policies on SMEs\u27 outputs, authorities should establish state agencies as coordinating units to monitor policy implementation. Additionally, efforts should be directed towards putting adequate infrastructural facilities in place for the proper operation of the SMEs.
Practical Implications
The study provides insights indicating that positive (negative) shocks in the interest rate cause negative (positive) shocks in SMEs output, thus aligning with the associated economic theory