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Developing Mechanism of Psychological Contracts of Trainees With Management: A Study of Karachi Based Public Sector Manufacturing Organization
No full textPurpose: The primary purpose of this study is to focus on developing psychological contracts between z-generation and management. This mechanism was selected explicitly from a case study in the Karachi manufacturing organisation through a trainee program.
Study design/methodology/approach: This research was conducted using qualitative research methodology, a phenomenological approach, and a focus on participants\u27 live experiences. It proposes a psychological contract development model for the induction of trainees in the Pakistani manufacturing sector.
Findings: The research findings reveal a deep exploration of the themes of supportive structure and discipline, increased self-awareness points to psychological contract, the transactional and transformational side of psychological contract development, tools for relational psychological contract, and enhanced relationships with self and organisation,
Originality/value: The research contributes to the mental models of Generation Z and its related mechanism for developing the Psychological Contract. Exploring this dynamic within the context of trainees offers a fresh perspective, as trainees often have unique needs and expectations compared to regular employees; understanding the psychological contracts of trainees with management is crucial for effective talent management and organizational development.
Research limitations/implications: The primary research conducted in Karachi and public sector organizations may challenge generalizability. Other limitations include sampling biases due to being conducted in a specific organizational population and the subjective and dynamic nature of psychological contracts, which vary from person to person. Despite these limitations, the research provides practical and policy implications and emphasizes academic contribution.
Practical implications: The proposed model will stimulate educators, training and development professionals, and practicing employee relations and human resources leaders to effectively design and implement programs to develop successful psychological contracts and retain Generation Z employees.
Social implications: The research develops the well-being of trainees, providing them with fairness and equity through professional development and generating a positive and growth mindset
Analysis Of Machine Learning and Artificial Intelligence In Finance: Growth And New Trends
No full textThe paper exhibits the application and usefulness of machine learning (ML) and artificial intelligence (AI) state of art in the field of applied finance. Using the large volume of data, bibliometric review has been done. The published articles (in number 540) within the domain of economics and finance from the year 2010 to 2022 have been extracted from the core collection of Web of Science (WOS). VOSViewer – data visualization application has been operated for extracting; the trends in machine learning and/or artificial intelligence in finance, the most influential authors, the most influential documents, the most influential sources/journals, the most influential countries, the most influential organizations based on citations and the four research streams have also been developed for future research. The trend exhibits an inclination toward scholarly publications in the domain of bankruptcy, block chain, portfolio management, and anti-money laundering (AML). The top three countries contributors to the main research are the United States, China, and the United Kingdom. Our finding provides real-world guidance for the overall financial system (financial instruments, markets, institutions and central banks) on how to use AI and ML in decision-making for managing international finance
Relevance of Asset Pricing Models in Explaining Excess Returns of Portfolios: A Comparison of Shariah-Compliant Stocks and Conventional Stocks Listed in Bursa Malaysia
No full textInvestment in the capital market is both risky and rewarding. Asset pricing models seek to find anomalies related to cross sectional variations of returns of stocks. Modern Portfolio Theory of Markowitz inspired investors of earning good returns without commensurate risk using portfolio of diverse securities that could ensure steady returns in all times. Efficient Market Hypothesis of Sharpe paved the way of understanding the working of capital markets and to the development of one factor mode, Capital Asset Pricing Model (CAPM) suggesting return of an assets only depends on its sensitivity to broad-based market. As empirical studies both in developed markets and emerging economies, documented that CAPM left much of the variations of mean returns unexplained, Fama and French initially suggested size and book-to-market equity and later profitability and investments factors to have significant explanatory power to describe variations of expected returns of stocks. We have three types of samples: All-Sample stocks, Shariah-compliant stocks and conventional stocks. We constructed equal-weighted deciles portfolios based on anomalies found in the asset pricing studies of size, book-to-market equity, profitability, investments, liquidity and momentum. For RHS factors, 2 * 3 sorting is used. We employed univariate sorting.
Our results suggest that multifactor models suggested by Fama and French (1992, 2015) are superior to one-factor model, CAPM. Our results also consistent with Fama and French (1992) that size factor subsumed the liquidity factor. We document modest incremental power of Fama and French five-factor model over other models in explaining returns of portfolio constructed on risk anomalies. HML factor is consistently priced in the sample data and factor spanning tests would not confirm its redundancy in our sample, but SMB was a redundant factor. Both conventional stocks and Shariah-compliant stocks behave similar. Bursa Malaysia is largest market of Shariah-compliant securities and provides an attractive opportunity to diversify and earn good returns using factor investing to Shariah-compliant investors and to those who wish to diversify their investment portfolio by employing factor investing.
We hope that it would facilitate Shariah-compliant investors by providing a tested and reliable framework to formulate profitable investment strategies. We aim that investment in the stock market will no longer be considered a game of luck or chance by analyzing the return patterns that are consistent and time-tested
IBA\u27s talent hunt
No full textThe Institute of Business Administration, Karachi (IBA) organized an orientation ceremony for the IBA Talent Hunt Programme students batch 2024 at the main campus. The program welcomed over 300 students from all over Pakistan
Consumed by Society: A Qualitative Investigation of Women’s Experiences with Family and Eating
No full textEating disorders (Eds) detrimentally affect a person’s physical, emotional, and social well-being. Among the major eating disorders, bulimia nervosa and anorexia nervosa are the two most significant and evident in the youth of developing countries like Pakistan. Two primary risk factors that can lead to developing a full-blown eating disorder and can help in mapping the manifestation of the said disorders include, disordered eating and negative body image perceptions. Sociocultural influences, such as family members are pivotal in the development of maladaptive body image and disordered eating behavior. This research investigated the impact of family on eating disorder symptomology in a non-clinical sample of young women in Karachi, Pakistan, offering insights into the lived experiences of women who encounter this phenomenon. This study incorporated a cross-sectional, formative research method with a qualitative approach utilizing semi structured interviews. Purposive sampling was used to recruit 8 female participants between the ages of 18 – 28 who self-identified as having unhealthy eating behaviors and negative body image perceptions. Qualitative responses from participants were thematically analyzed to produce in-depth insight on the impact that family has on disordered eating behavior and body image perceptions.
Themes from interviews highlighted that familial, especially parental influence in the form of direct and indirect comments impacted women’s eating habits and perceptions about themselves. Five subthemes were identified for family commentary including concerned commentary, teasing, critical commentary, comparison with others and gender differences in commentary. Two subthemes were identified for modeling and control and mealtimes and dawats, family modeling of disordered eating and body shaping behaviors, family exerting control and eating together vs. separately and dawats and dissonance, respectively. Two subthemes were also identified for Rishta culture and social ownership of weight, these included, externalized fear of not getting married by family, internalized fear of the individual, criticism of others’ weight outside the family and being criticized by others outside of the family, in that order. Sub themes of body image perceptions comprised of internalizing the acceptable thin ideal, debunking the thin ideal along with awareness among family. While sub themes for fat talk involved fat talk for validation, for communicating preferences of body type and disengagement in fat talk due to criticism. For disordered eating behavior the subthemes that emerged were, encouragement and discouragement by family, disordered eating behaviors as a coping mechanism (e.g., binging in response to hurtful comments), disordered eating behaviors to pacify familial comments (e.g., restricting to avoid comments), impacts of disordered eating and secrecy in eating. The study suggests future research directions to develop a deeper understanding of each subtheme and to develop interventions that support women’s wellbeing and better their experiences with eating and body image within the context of family
Such Meme, Much Engage: Exploring the Doge Meme’s Role within Participatory Culture and its Manifestation on Reddit
No full textIn the contemporary digital landscape, Internet memes have emerged as powerful tools for communication and cultural expression, profoundly shaping our interactions in both the online and offline world. Given this transformative influence, it becomes imperative for us to thoroughly investigate this phenomenon and provide it with a more solid theoretical grounding, especially within academic discourse. This research explores how Internet memes, with a specific focus on the renowned Doge meme, exemplify Henry Jenkins’ theory of participatory culture. This framework has two central dimensions: the prevalence of remix culture surrounding such cultural artifacts and the five defining characteristics of online communities that enable them to foster participatory culture. Through the qualitative research method of digital ethnography, this study demonstrates how the Doge meme’s inherent structure facilitates its widespread remixing and adaptation across various online contexts, including the realms of political communication and commercial advertising. Moreover, it also highlights the meme’s impact beyond the digital realm, notably through initiatives like Dogecoin, a Doge-themed alternative cryptocurrency known for its philanthropic endeavors. The study also investigates Reddit communities centered around the Doge meme, illustrating how the platform’s community-focused structure supports the flourishing of participatory culture. A significant contribution of this research is its analysis of the gift economy phenomenon within these online communities, which enables the incentivization of members’ contributions through mechanisms such as Dogecoin tipping. It must be noted that while the framework of participatory culture has been applied extensively to analyze fandoms, the focus on gift economies remains unexplored, making this study pivotal for expanding the theoretical understanding of online participatory dynamics. In a similar vein, this research also provides a foundation for future scholars to explore Internet memes through diverse theoretical lenses within the domain of media studies and digital humanities
Predictive Customer Segmentation in Risk Analysis
No full textThis project aims to create a customer segmentation framework for risk analysis in the banking sector. Utilizing machine learning techniques, such as K-means clustering and PCA, the project segments customers into distinct risk groups based on various factors. The goal is to enhance decision-making processes in lending, credit scoring, and risk management. The framework provides actionable insights through interactive visualizations, offering significant potential for improving financial services and risk management in the banking industry
Grad School Info Session: University of Kent Bestway Scholarship
No full textThe IBA Career Development Center hosted a GradSchool Insight Webinar with Ms. Emma Spittles(Senior International Officer at the University of Kent) regarding the University of Kent Bestway Scholarship for STEM programs. The session aimed to provide valuable insights and advice on the application process
Shariah Perspective of Islamic Credit Card in Pakistan
No full textThis research investigates the ethical dimensions of Islamic credit cards within the context of modern finance, focusing on their adherence to Shariah principles and their impact on Muslim consumers. Islam offers comprehensive guidance across all areas of life, requiring Muslims to follow its laws based on the Quran and Sunnah. This includes financial transactions, which must comply with Islamic teachings. A key aspect of Islamic finance is the prohibition of interest, or \u27riba,\u27 which is deemed unethical and contrary to Islamic principles. To address this, Islamic scholars and financial experts have created alternative financial products, including Islamic credit cards, which provide interest-free solutions for Muslims. This study delves into the core principles of Islamic finance, emphasizing the ethical guidelines derived from the Quran and Sunnah. It explores the functionality of Islamic credit cards, comparing them with conventional credit cards and assessing their compliance with Shariah law. Furthermore, the research examines the reception and adoption of Islamic credit cards among Muslim consumers, evaluating their effectiveness in fulfilling financial needs while maintaining Islamic ethical standards. It also considers the challenges and criticisms associated with Islamic credit cards, underscoring the necessity of transparency, fairness, and social responsibility in Islamic finance. This research contributes to the broader discussion on ethical finance and the role of Islamic credit cards in fostering financial integrity and ethical behavior within Muslim communities
Making Hajj Affordable for Pakistanis: Proposed Model from the Experience of Indonesia and Malaysia
No full textHajj is one of the five pillars of Islam that is mandatory for every Muslim adult who is physically and financially sound (Sahib-e-Istetaat) to undertake this ritual (Ibadah) at least once in their lifespan. In Pakistan, to facilitate Muslims in fulfilling this religious duty, Ministry of Religious Affairs & Interfaith Harmony (MoRA) has been assigned to plan for Hajj under the 1973 Constitution. Countries like Malaysia, Indonesia, Nigeria and Maldives etc. have also established separate legal entities, like Pakistan, to manage the funds of Hajj depositors and provide services to pilgrims and administering the Hajj deposits in a way that it can benefit them in the shape of Halal returns (i.e., Riba free earnings). Although these institutions have similar objective to facilitate pilgrims in carrying out the religious obligation, such as, accommodation arrangements, meal, stay at the Holy land, travel and other related tasks, but their mode of operations may be substantially different. Therefore, this paper has dual objectives; firstly, the paper aims to evaluate the Hajj fund management of two economies i.e., Indonesia and Malaysia; the study also critically analyzes the current structure of management of Hajj funds in Pakistan. Secondly, the study suggests an efficient operational structure / model for Pakistan’s Hajj fund management based on the best practices of Indonesia and Malaysia. The paper argues setting up of an independent entity within MoRA, whereby public can start saving at an early age by entering financial contract, thus efficient utilization of Hajj funds can be ensured that provides optimum facilitation to the potential pilgrims of Pakistan at a reasonable cost. Overall, this project has important policy implications for the Federal Government, i.e., MoRA, financial regulators, including both the State Bank of Pakistan (the Central Bank) and the Securities Exchange & Commission of Pakistan (SECP – Public enforcer), social implication for potential pilgrims who want to perform Hajj under the government scheme