International Journal of Management Research and Emerging Sciences
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Sequential Mediation Between Night Shift and Job Performance in The Context of Pakistan
Full text linkThe objective behind this empirical research is to investigate the sequential mediation of work-life balance and insomnia on the relationship between night shift and job performance in the call centers of telecommunication industry of Pakistan. The data was collected with the help of structured questionnaires from the night shift workers of call center. The results were complied with the Preacher and Hayes process to analyze the sequential mediation between the relationship of night shift and Job Performance. The findings reveal that there is a sequential mediation between night shift and job performance with mediating role of work-life balance and insomnia. The mediating role of insomnia is significant but the mediating role of work-life balance was found to be insignificant between the relationship of night shift and job performance. The study is the great addition to the existing literature as well as for managerial implications by highlighting the negative impacts of continuous nightshift on the work life balance and sleep quality of employees that ultimately impact their job performance
Misalignment of Actor’s Resources Leading to Value Co-destruction: A Systematic Literature Review for Future Research Frontier
Full text linkThe research frontier of Service-Dominant logic has elicited the etymological debate on the phenomenological nature of value. To date, the literature has shown a biased and myopic view of value co-creation as an outcome of service interaction. Leading journals have given prominent space to value co-creation. Still, value co-destruction is yet least explored though it is also a realistic view of a service interaction. Value co-creation manifests the wellness of actors, but not all service interactions result in positive outcomes causing value co-destruction. The researchers have started the debate on value co-destruction relating to its conceptual description; still, the literature is fragmented. This article is a systematic literature review that explores the epistemological, theoretical, and contextual understanding of value co-destruction to synthesize fragmented literature from 2010 to date. This article provides an overview of value co-destruction seminal work, theoretical underpinnings, leading antecedents, and coping strategies in particular contexts. The systematic selection of literature affirms value co-destruction as a decline in the wellbeing of actors during service exchange due to the misalignment of actors’ resources and a mirror image of value co-creation. This article offers co-existence, the role of context, contextual antecedents, the temporal nature of co-destruction, and exclusively the ISPAR model as theoretical support for value co-destruction as future research directions
IMPACT OF BOARD AND AUDIT COMMITTEE CHARACTERISTICS ON ACCRUALS AND REAL EARNINGS MANAGEMENT IN PAKISTAN
Full text linkPurpose: Despite a large number of regulations and standards governing the financial reporting process, earnings management is increasing at an alarming rate in organizations today. The aim of this study is to investigate the impact of board and audit committee characteristics on accruals and real earnings management practices in Pakistan.
Design/Methodology/Approach: Earnings management as dependent variable is measured by using two model: Kothari et al., (2005) and Roy chowdhury (2006). Whereas, board size, board independence, CEO duality, audit committee size, audit committee independence and audit committee activity are the independent variables. This study was based on data collected from 235 non-financial firms listed on Pakistan Stock Exchange (PSX) from 2008 to 2015. The relationship was investigated by means of panel data estimation.
Findings: The result revealed CEO duality is positively related with accruals earnings management. Whereas, board independence is negatively related and CEO duality, board activity and audit committee independence are positively related with real earnings management.
Implications/Originality/Value: The findings of the study are important for investors, regulators, and legislators in their attempt to constrain the incidence of earnings management and improve financial reporting quality
Selectivity and Market-Timing Performance of Mutual Funds Using Human-Capital Augmented Various Asset-Pricing Models: Evidence from Pakistan
Full text linkThis study demonstrates the selectivity skills and market-timing ability performance of funds mangers through various sophisticated augmented asset pricing models. The results indicate better performance for selectivity and market-timing ability of fund managers but unexpectedly after adjusting size and value factors into the specifications, both demonstrate insignificant findings. It also investigates the nexus between various risk-adjusted factors including market, size, value, momentum and human-capital sixth-factor, with the excess portfolio mutual funds returns using sample of 120 open-ended mutual funds monthly data for the time span of 16 years 2005-2020. The simple and multivariate time-series OLS regression approaches are employed to investigate the nexus between various factors and mutual funds returns. The findings of the study evidenced statistically significant nexus of market, size and value factors with mutual funds returns while insignificant results for human-capital and momentum factors. Moreover, based on GRS test, the average absolute alpha of Income-Growth augmented CAPM is closer to zero therefore, assumed to be the best model among the risk-adjusted completing asset pricing models in mutual funds
Corporate Governance and Firm Financial Performance: Empirical Evidence from Pakistan Stock Exchange
Full text linkThe aim of this article is to investigate the effect of companies act 2017 on governance parameter in Pakistan, especially in non-financial companies measures the qualities of a firm\u27s financial performance (FFP). This article analysis the secondary data from the company’s annual reports of a sample of 120 non-financial companies from 11 different sectors. The non-financial companies are listed in Pakistan Stock Exchange (PSX), and time frame are selected from 2013 to 2018. The findings showed that Board Independence (BI), Audit Committee Independence (ACI), and the Women Directors (WD) on the board has a substantial and beneficial influence on FFP. However, interestingly, the Separate Leadership Structure (SLS) exerted a significant and negative effect on FFP. The study enriches the literature, policy, and practice especially after the introduction of the recent CG code 2017 in Pakistan. The findings suggest that the nomination of independent directors to the board and audit committee along with increasing the number of women directors on the board augment the independence of the board that has positive impacts on FFP
Medicine Affordability and Accessibility: A Case of Low and Middle-Income Group of Gujranwala District
Full text linkIn Pakistan, around two-thirds population is away from essential medicines because of the higher prices prevalent in the private sector and the low availability of medicines in the public sector (WHO, Health profile of Pakistan). High out-of-pocket payments on medicines increase the burden on poor households. Using the World Health Organization and Health Action International methods, a survey of 50 medications was undertaken in District Gujranwala of the Punjab, Pakistan, to assess drug availability and affordability status. The findings reveal that medicine availability is deficient in public sector hospitals, which are the primary source of free medicines for the public, while the availability is high in the private sector. Poor households have to face serious financial issues because of the higher prices. Therefore, the government needs to ensure the availability of medicines in the public sector through efficient procurement. To reduce the prices of medicines in the private sector, the government must promote low-price generic medicines and set a price cap for essential medicines
Testing the Role of Vertical Intra-Industry Trade and Bilateral FDI on CO2 Emissions in Pakistan
Full text linkEnvironmental pollution is the key concern of today’s world. Being a developing country, Pakistan is not exempted from world pollution as carbon dioxide emissions are increasing continuously. This study empirically investigates the factors effecting CO2 emissions focusing on the role of vertical intra-industry trade and Bilateral FDI of USA, UK and China with Pakistan from 1981 to 2018. ARDL bounds testing method is used to investigate long run relationship among the variables of interest. The vertical intra-industry trade is calculated by using the threshold method. The stationary properties of the variables are examined by applying the Augmented Dicky-Fuller and Phillip Peron unit root test. Robust OLS regression is analyzed for the model of USA and Pakistan. Results indicate a positive impact of bilateral FDI with USA but it is insignificant for UK and China. Energy use and Real GDP are significantly positive. Conversely, vertical intra-industry trade is negative for USA and positive for China. These overall findings validate the pollution haven hypothesis in Pakistan and also confirm the Environment Kuznets Curve (EKC) hypothesis. The government should impose adequate environmental policy for all the multinational corporation (MNC’s) on equivalent basis
The Impact of Information, Communication Technology and Innovation on SMEs in Pakistan
Full text linkInformation and communication technology plays an important role in developing innovation at the organization level, not only for big companies but also for micro, small and medium enterprises while also facilitating the growth and advancement of organizations. The aim of this study is to examine the impact of innovation on SMEs between information and communication technologies with a sample of 364 SMEs in Pakistan. The findings indicate that information and communication technology have a positive and significant effect on the innovation activities of small and medium-sized enterprises (SMEs) in Pakistan
How Does Institutional Quality Moderates the Impact of Public Debt on Economic Growth? Startling Evidence from OIC Countries
Full text linkUtilizing the data for forty-three member countries of the Organization of Islamic Cooperation (OIC), this study delves into the impact of public debt on economic growth and evaluates how institutional quality moderates this effect. The outcomes of the study disclose a nonlinear relationship between public debt and economic growth in OIC countries. The results disclose threshold value of public debt is 63.43 as a percent of GDP in OIC economies after this it thwarts economic growth. The quantitative outcomes unveil that the quality of political and economic institutions boosts economic growth. The findings from the various models demonstrate that political institutions influence the growth impact of the economic institutions, these findings are acknowledging the "hierarchy of institutions hypothesis." The results of the interaction term reveal that, even as public debt hurts economic growth, better political and economic institutional quality measures alleviate this negative impact. Institutional infrastructure reforms are critical for public debt accumulation policy to mitigate the undesirable consequence of debt on economic growth in OIC member countries. Countries should considerably lessen their dependence on public debt and keep it below the threshold level that harms economic growth. OIC countries should mobilize their internally produced revenue collection mechanisms in order to increase revenue generation and close the gap between available resources and spending while incurring the least amount of public debt. Our findings can be pragmatic to design a germane fiscal policy to maximize economic growth
Corporate Governance and Corporate Financial Failures: Evidence From Pakistan Stock Exchange (PSX)
Full text linkThe purpose of this study is to look into the impact of corporate governance on corporate business failure among Pakistan\u27s publicly traded companies. The study utilized the publicly available corporate governance characteristics data representing explanatory variables along with the three-year negative position in earning per share for the determinant of the business success and failure representing an explained variable. Paired sampling based on 55 successful companies and 55 business failed companies has been used and empirically tested through logistic regression for the period 2010 to 2020. The results reveal that corporate governance mechanisms based on CEO duality and outsider ownership significantly explain the likeliness of business failures of firms. The designed study provides more likeliness of the business failures for the presence of the firms which have the evidence of larger board size and CEO duality. The business failed firms also lack board independence and become a more dispensable activity in the context of agency and stewardship theory. The results of the study support the recent modifications on account of renowned corporate failures to strengthen the adequacy of corporate boards, and their neglected committees. This research lessens the possibility of corporate failures and highlights the proposal of policymakers to enhance board and committee effectiveness. The earlier studies skip the incorporation of a categorical variable to project the corporate failures through logit modelling. This study is the first in its contextual settings to predict financial failures by logit modelling across various industrial sectors that insinuates corporate decision-makers to avoid practices exposing firms to failures