Journals of Forman Christian College
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Detecting Mean-Variance Shifts in a Financial Time Series: A Firm Level Case Analysis of Karachi Stock Exchange: Muhammad Ali Bhatti, Eatzaz Ahmad and Marium Iqbal
No full textThis study aims at detecting the number, locations and size of deterministic shifts in a financial time series, using Inclan and Tiao (1994)’s algorithm. The algorithm, developed to address the violation of the assumption of constant unconditional variance of GARCH model in order to reduce the persistence of volatility over time, uses the cumulative sums of squares of partitioned series, and is iteratively applied to detect both mean- and variance-changes in the series, hence named Iterated Cumulative Sums of Squares (ICSS) algorithm. A properly normalized version of the maximum of CSS-statistic asymptotically follows normal distribution, the quantiles of which are used in the algorithm. Firm-level data from Karachi Stock Exchange is used to demonstrate the application of the algorithm. An improved form of the algorithm, by Bos and Hoontrakul (2002), is also applied as a sensitivity check to evaluate and rectify the cases where ICSS algorithm might have detected a mean-shift in the series as a variance-shift
Determinants of Textile Firms’ Profitability in Pakistan
No full textTextile sector is the most important sector in the economy of Pakistan especially in terms of employment generation and exports. Any improvement in the growth and profitability of textile sector is likely to have significant impact on income generation, foreign exchange earnings, reducing poverty and improving the standard of living of people. The objective of the present study is to examine the profitability of the textile sector in Pakistan, concentrating mainly on the microeconomic factors. Several studies have undertaken the task of studying the relationship between firm’s profitability and its determinants i.e. size, growth,liquidity, leverage etc. The analysis of present study is based on unbalanced panel data of 111 textile firm for the period of 2006 to 2011. The data pertain to short term, long term debts, total sales, earnings before interest and taxes, current assets, total assets, current liabilities, non-current liabilities etc. The present study shows that sales of the firm has positive and leverage has negative impact on the profitability of the firm. The private sector can engage itself on the basis of this study by concentrating on factors which have significant positive impact onits profitability. Any improvement in the growth of firms is likely to benefit many segments of society like traders and workers through more employment and income
Poverty and the Quality of the Housing: Construction of Index Using FFDP Approach: Jawaria Rashid, Ijaz Hussain and Shabib Haider Syed
No full textPoverty is multidimensional and more complex concept. The researchers have sufficiently explored the causes of poverty, but still have to be explored in the context of effects of poverty. There is increasing consensus that the income and/or consumption measures do not fully capture the qualitative dimension of poverty such as the lack of comfort, education, health, housing, personal safety, and social inclusion etc. Usually the poor has inadequate health and education facilities, low housing facilities and the other similar ills. This paper explores the housing condition of the poor by constructing the quality of the housing index (QHI). This QHI is very detailed and comprehensive incorporating the various dimensions in depth including housing facilities, distance of the facilities available to the house, frequency of the use of these facilities and perception about the services available to the households. This paper will use the recently available country-wide micro -level data collected by Pakistan Bureau of Statistics under the title of Pakistan Social and Living Standards Measurement Survey (PSLM): Round VI (2010-11). It is concluded that urban non-poor residents who live in ketcha houses have the highest quality of housing, on average. Second, the urban non-poor households come who have both the land line and mobile facilities. The third rank is observed in the rural non-poor households who use gas as a source of cooking food. The worst quality of housing is found in rural poor households who have almost no regular source of lighting in their houses
Does Structural Social Capital Enhance Health Status? An Empirical Analysis of 60 Countries: Tahseen Ajaz and Shamsa Kanwal
Full text linkStructural social capital (SSC) is the extent to which people take part in social networks. Higher degree of social networks among people improve health of individuals, as social networks lower health care utilization, support self[1]management behaviour and become strong predictors of health. Social participation offers both material as well as moral support to individuals and makes it possible to fight against worries that reduces stress and emergence of chronic diseases. This study analyses the health consequences of social capital using the data of 60 countries over the period 1980-2014. We have used social participation as a proxy of SSC. The empirical studies largely focus on three measures of health outcomes that is physical health, mental health and social well[1]being of individuals separately while we are using these three measures of health in this analysis. Higher degree of social participation gives longevity, lowers mortality rate, improves mental health and enhances well-being. We conclude that social participation reduces distress and mental illness mainly in individuals and acts like a buffer. We also find that social participation in high income countries has beneficial impact on health status as extensive participation in social involvements is linked with a low incidence of health problems. This further reinforces the need for programs to facilitate individuals to improve their health that not only target the policies fostering economic activities but also improve policies which have beneficial impact in increasing social capital
Institutional Determinants of Tax Morale in Pakistan: Ghulam Rasool Madni, Mohammad Aslam Chaudhary and Nawaz Ahmad
No full textDeterrence policy is a prevalent strategy in developing countries to collect tax revenues, but this approach is problematic due to inconsistent evidence. Tax morale is emerging as one of the most influential variables affecting the level of compliance in most countries. Given the extremely low tax to GDP ratio in Pakistan, the foundational intent of this study is to examine the impact of formal and informal institutions affecting the level of tax morale and to fill the space by considering tax morale as endogenous variable by acquiring the data from the World Values Survey for the wave of 2010-2014. Weighted ordered probit model is applied, the estimated results demonstrate that confidence in parliament, confidence in civil services, confidence in government, religiosity, marital status and person’s age play significant roles in building higher tax morale in the country. It has also been observed that Pakistani women have higher level of tax morale as compared to men. Married people turn out to have higher tax morale as compared to singles and financial satisfaction has also significant positive impact for tax morale while the impact of education was not found significant. From policy perspectives, the improvement of institutional quality has dire need to improve the level of tax moral
Determinants of Objective and Subjective Wellbeing of Working and Non-Working Women: A Case Study of Rawalpindi, Punjab, Pakistan
No full textThe study endeavors to measure the objective and subjective well-being of women and analyze its determinants using primary data collected through a questionnaire from 500 working and non-working women from Rawalpindi, Punjab. The subjective well-being is measured through ten-point scale on life-satisfaction and through an index based on happy pulse indicators. While, the objective wellbeing is based on quantifiable measures including income, assets, residence, education, health, safety and security, and social networking. The analysis is done with the help of descriptive, distributional and inferential statistics. The determinants ofwomen’s well-being are estimated using the Ordinary Least Squares and Ordered Probit estimation techniques. Overall, results show higher women empowerment of working women than non-working women. Regarding wellbeing indices, women are slightly better in terms of subjective wellbeing than objective ones. The married and aged working women with good health conditions and financially sound family background are more satisfied from their lives. The results call for improving women’s wellbeing and their empowerment through making them financially resilient and providing them with good health facilities.
Experiences and Perceptions of Special School Personnel Regarding Inclusive Education: A Qualitative Study.: Farwa Chaudhary, Bareera Shahid, Nazia Bashir
Full text linkThe present study explored the experiences and perceptions of psychologists with regards to the benefits of inclusive education for special needs children. The phenomenological approach was used, and data was collected from four psychologists in the form of semi-structured interviews. Thematic analysis was used to interpret the data. The following themes emerged in favor of inclusive education: (i) Providing Support to Special Need Students; (ii) Requiring Qualifications and Experienced Teachers; (iii) Offering Training to School Staff; (iv) Identifying Barriers that Interfere with Inclusion: Stigma and Integration; and (v) The Positive Effects of Inclusive Education: Empathy, Social Skills, and Academic Achievement. The importance of training teachers and staff in inclusive education was also highlighted. The present study indicates that awareness programs are required to remove the social stigma against children with special needs in advancing inclusive education in Pakistan
Weight-Based Teasing, Internalizing and Externalizing Behavioral Problems in Adolescents.: Kainaat Yousaf, Afsheen Masood, Aqsa Abdual Gaffar, and Aiza Javaid
Full text linkThis research aimed to investigate the relationship between weight-based teasing and internalizing and externalizing behavioral problems in adolescents. This is a cross-sectional study, using a non-probability purposive sampling strategy. A total of 200 educated adolescents were sampled, with ages ranging from 11-19 years. Weight-based teasing was positively correlated with internalizing behavioral problems (r = .80**, p < .01), and weight-based teasing was positively predicting internalizing behavioral problems (β = .84**, p < .01). Gender and institute affiliation differences were also found (p < .01). The findings suggest that an increase in weight-based teasing is associated with increased internalizing behavioral problems in adolescents. Females exhibited more internalizing and externalizing behavioral problems as compared to males, whereas private institutes have more internalizing and externalizing behavioral problems as compared to government institutes. This study highlights the need for gender and context-specific interventions to mitigate the negative impact of weight-based teasing on adolescents\u27 mental health
Trait Emotional Intelligence, Secondary Trauma Self-Efficacy, and Compassion Fatigue among Doctors
Full text linkDoctors working in the emergency departments of hospitals are persistently exposed to high levels of secondary trauma, which can lead to compassion fatigue. This research aimed to identify the relationship between emotional intelligence, secondary trauma self-efficacy, and compassion fatigue among physicians working in emergency departments of Pakistani hospitals. The research design was correlational, and a purposive sampling strategy was employed to collect online data. The results indicate a positive relationship between trait emotional intelligence and secondary traumatic self-efficacy while the relationship between trait emotional intelligence and compassion fatigue is negative. Secondary trauma self-efficacy tends to partially mediate the relationship between emotional intelligence and compassion fatigue in doctors, with women showing more compassion fatigue. The study recommends that healthcare leadership and policymakers conduct educational programs and counseling for emergency department doctors, especially women doctors, to enhance their emotional intelligence and self-efficacy and combat compassion fatigue
Media Influence and Eating Problems: The Mediating Role of Body Appreciation in Young Adults: Rehana Mushtaq PhD, Manahil Asif, Hafiza Maryam Rafique
Full text linkMedia plays a significant role in the lives of young adults in terms of shaping social and cultural standards for physical appearance, which may lead to eating problems. The current study aims to explore the relationship between media influence, body appreciation, and eating problems in young adults. The sample consists of 200 university students, with an age range of 18-24 years who were sampled purposively. Participants completed the Multidimensional Media Influence Scale, Body Appreciation Scale, and Binging Eating Scale. The data was analyzed through Pearson Product Moment correlation and mediation analysis using SPSS and AMOS. The findings of the study showed that there is a significant negative relationship between media influence and body appreciation and a significant positive relationship between media influence and eating problems. Body appreciation partially mediates the relationship between media influence and eating problems. We conclude that media influence and body appreciation are important factors influencing eating problems and we need counseling services for youth enrolled at universities to prevent eating and related health and social problems from rising in the country