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This empirical research investigates whether investment decisions of cryptocurrency investors in Pakistan are influenced by a set of cognitive biases, as propagated by the theories in behavioural finance. To fill a dearth in the existing literature, this study evaluates the psychological and social sources of the cognitive biases that in turn affect investment decisions in cryptocurrency, therefore, this research essentially examines the mediating role of cognitive biases (Herding, Overconfidence, Representativeness, and Self-serving biases) between the linkages of socio-psychological factors (Money Anxiety, Social Interactions, Stress and Internal Locus of Control) and investment decisions in cryptocurrencies. Sample size of 313 respondents has been used, employing snowball sampling method, to analyze the data using Partial Least Square Structural Equation Modeling. The results reveal that herding bias, overconfidence bias and representativeness bias partially mediate the relationship between money anxiety, social interactions, stress and investment decisions in cryptocurrencies whereas self-serving bias fails to exert any mediation effect between internal locus of control and investment decisions. The results reveal that money anxiety causes herding bias which, in turn, affects the investment decisions in cryptocurrency positively; Stress leads to representativeness bias which, in turn, undermines investment decisions in cryptocurrency and social interactions generate overconfidence bias which, in turn, affects the investment decisions negatively.

This study makes significant payment to our beliefs about issues and solution of ethical climate and turnover intention. This research is not only discusses how ethical climate creates trust in supervisor, emotional exhaustion, and organizational commitment but also explains how these parameters affect job satisfaction, which relates to turnover intention. All the parameter, we use in our research is well tested and exercised. To explain our point of view in well understandable manner, a structured model is derived from the literature on the subject. More over this research brings the issue of ethical climate to the discussion table and provides a well-established path to other researchers. The research will make the managers able to lessen the turnover intention in the organization. As the study linking various variables and theories, it suggests the main affects and causes of their interdependences. It also helps managers to maintain such an ethical climate, which leads to job satisfaction and less turnover rate.

The corporate governance measures emphasize on presence of independence of the board of directors to bring objectivity and reducing the agency cost; whereas the institutions have the ability, skills and time to supervise the activities of the management and channelize it to better financial performance. The objective of this study is to explore the effect of independence of the board of directors on the financial performance of the firms. The independence was gauged by number of independent directors and non-executive directors, chairing of board committees by independent directors, institutional holding in the firm, and presence of institutional directors on the board. The financial performance of the firm is gauged using the return on equity (ROE) and return on assets (ROA). The corporate governance and financial performance data comprising of 75 firm years from 2014 to 2018 of the firms listed in the cement sector of the Pakistan Stock Exchange (PSX) were selected. GLM regression was performed to study the relationship between the variables. The results suggest that the majority of independence on the board of directors do not affect the financial performance of the firm; the independence in the board committees negatively affects the financial performance, whereas the presence of institutional holding and director in the firm does not have any effect on the performance of the firm. The study will provide a basis for future studies to find the association that independence can bring objectivity, reduce agency cost, and affect the performance of the firm.

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