The purpose of this study is to find out the impact of political general elections of Pakistan on KSE-100 index. We employed Event study methodology on closing prices of KSE-100 index over the time period January, 1998 to May, 2013. During our sample period, 3 events of political general Elections occurred i.e., Event1 in 2002, Event2 in 2008, and recently Event3 in 2013. We construct an Event window of 11 days consisting of 5 pre-event days, 1 on-event day, and 5 post-event days. Results of this study show that Events 1 -and 2 put significant negative impact on stock returns, while Event3 demonstrates a significant positive impact on stock returns. This study also revealed the pre -and post-event comparison for all of the three events and, suggested that as soon as the political situation of the country changes, behavior of investors towards political general election also changes. Manipulation in stock index has always been remained an inconclusive phenomenon for investors and policy makers. So, further evidence on an individual country level might suggest fruitful guidelines to both investors and policy makers.

This study employs "Data Envelopment Analysis (DEA)" method to calculate the "Total Factor Productivity (TFP)" growth and its components of 19 non-financial firms from Cement and Energy sectors of Pakistan listed on ISE-100 Index during the time period 2005-2011. The research focuses on to identify the factors like, technical change and technical efficiency change tends to influence the TFP of cement -and energy sectors of Pakistan. We use hand collected data from the annual reports of these non-financial firms included in our sample. Results show that cement sector has an overall positive TFP growth of 9.7%, and energy sector has an overall TFP growth of 1.5% during the study period. The study may assist us to recognize the extent to which these components can affect the TFP of a sector, and will further help us to explore new ways to boost up the productivity of these sectors which in turn may be beneficial to move country towards a sustainable path. Key words: Data Envelopment Analysis; Malmquist Productivity index; Technical efficiency; technological efficiency; Cement Sector; Energy Sector; Pakistan.Resumo: Este estudo emprega o método "Data Envelopment Analysis (DEA)" para calcular o crescimento da "Produtividade Total dos Fatores (PTF)" e seus componentes em 19 empresas não financeiras dos setores de Cimento e Energia do Paquistão listados no ISE-100 Index durante o período de tempo 2005-2011. A pesquisa se concentra em identificar os fatores como mudança técnica e mudança de eficiência técnica que tendem a influenciar a TFP dos setores de cimento e energia do Paquistão. Usamos dados coletados manualmente dos relatórios anuais dessas empresas não financeiras incluídas em nossa amostra. Os resultados mostram que o Setor de Cimento tem um crescimento positivo geral da PTF de 9,7%, e o Setor de Energia tem um crescimento global da PTF de 1,5% durante o período do estudo. O estudo pode nos ajudar a reconhecer até que ponto esses componentes podem afetar a PTF de um setor e nos ajudará a explorar novas maneiras de aumentar a produtividade desses setores, o que, por sua vez, pode ser benéfico para mover o país rumo a um caminho sustentável.