This study examines the influence of corporate governance (Board Size, Board Independence and Board Meetings) and dividend policies of the Pakistani firms. The study covers four important sectors i.e. Cement, Textile, Banks and Sugar of the economy for the time span of 2009 to 2015. By employing the regression analysis, we found that Board size and Board independence does matters significantly for the divided policies of the firm. We also observed that CEO ownership has significant negative influence on the dividend payout ratio of the firm due to entrepreneurial effect. Furthermore in the ownership effect, we found that foreign ownership of the firm has positive influence on the dividend payout ratio of the firms.
This study examines the relationship between accounting numbers and market prices for the Pakistani cement industry. The study covers a time span of nine years from 2005-2014. We study the influence of book value of share, breakup value of share, earning per share, gearing ratio and dividend to equity ratio on market value of share. After applying different econometric techniques we found that book value of share and earnings per share have statistically significant influence on the market price of share.Keywords: Market price per share, book value of share, gearing ratio and earnings per share
Technology commands our life in a substantial manner. It has totally altered the way we communicate and process the information. Day by day improvements in technology have totally removed the borders that kept people of different areas apart as actually these boundaries don’t occur on the worldwide web. In this period of technology, Internet plays an active part in almost every field of life. Through advanced technology, users can interconnect with each other by using diverse platforms. When technology is solution of one problem it is also on the other hand causes of other problems. The corona virus quarantine, which compelled millions of people to work from home, has also accelerated the use of online communication technologies, resulting in even less human interaction than previously. Cyber bullying is now possible because of technological advancements, and youngsters are especially vulnerable to online harassment. There is a strong bond between organizational culture and technology. Organizational cultural can be defined as the common perception held by the organization’s members in a system of shared meaning. The dominant culture in an organization being the core values that are shared by a majority of the organization’s members. Culture is so essential for a technology organization as it defines the clear-cut boundaries present between one organization and others. In this paper we would like to compare the cultural values of the technology industry to culture values of another industry and we will observe the comparison, the effect of cultural values and the amount of users of different technologies in Pakistan.
This study scrutinizes the day-of-the-week effect anomaly in the context of market and industry analysis of the Pakistan stock exchange. For this purpose, daily closing prices of KSE-100, KSE-30, and KSE-All Share Index from January 01, 2009 to December 31, 2018, have been used. Similarly, sector returns are also calculated, taking average log-returns of selected sample firms. To analyze the data ordinary least squares (OLS) regression, general generalized autoregressive conditional heteroscedasticity (GARCH) (1,1) as well as asymmetric threshold GARCH (TGARCH) and exponential GARCH (EGARCH) models have been employed to model the leverage effect of good and bad news on market volatility. The results indicate the evidence of daily seasonality, with significant Monday and Wednesday effect in PSX indices returns as well as in most of the industry returns. Monday is found to be the day with the highest average returns with the highest return volatility. The findings of the study reveal that there exists a weak form of inefficiency in the Pakistan Stock Market, which implies the possibility of earning abnormal returns by investors using timing strategies. In terms of return predictability, this study is essential for international and domestic investors and it may affect their investment strategy and return management. The results might be interesting to the financial experts as they ponder the available conditions in the capital market for financial decision-making. This study is one of its first kind that includes both indices as well as industry returns for analysis of manufacturing industries in Pakistan stock exchange.
This study unfolds the CEO attributes, stock liquidity, and firms' performance nexus, drawing from an individual's personality attributes who hold the highest managerial positions. The fixed‐effect panel regression method is employed using nonfinancial firms listed at Pakistan Stock Exchange from 2011 to 2020. Significantly, CEOs' age, tenure, and ownership are positively associated with stock liquidity and firms' performance. Additionally, stock liquidity partially mediates the said nexus. This study provides new insights which confirm the theoretical implications of upper echelons theory which means specific attributes of an individual i.e., CEO can cause better performance of a firm.
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