This study aims to examine the impact of product involvement, subjective norm and perceived behavioral control on investment intentions of individual investors in Pakistan. The data were collected from 548 individual investors in Pakistan using systematic random sampling. The data analysis was done using descriptive and inferential statistics. The results of the analysis showed that product involvement and subjective norm have a significant impact on investment intention of individual investors in Pakistan. On the other hand, the perceived behavioral control appears as insignificant in influencing the investment intentions of individual investors. The results of the analysis can be helpful for the investment advisors in efforts to increase the level of involvement. They need to develop and promote customized investment portfolios for their customers that suit their risk profile, investment objectives and financial constraints.

Risk serves as an important aspect that can change the decision making of individuals, especially if it is related to investment decision making. The effects of risk on investment decision making have been extensively discussed in the literature but little of it assessed the dominance of various risk-related factors in investment decision making by individuals. In order to make up for this lack,  this research studies the impact of risk avoidance,  uncertainty avoidance and perceived risk on the investment intentions of individual investors in Pakistan and relate it to Hofstede’s cultural dimension. The data was collected from individual investors and after screening, a sample of 548 was found useable for further analysis. Using SEM-PLS, it was found that risk avoidance and uncertainty avoidance significantly influence the investment intention of individual investors. On the other hand perceived risk does not influence the investment intentions of individual investors. In the evaluation of dominating factors, it was found that   risk avoidance is the most significant and the strongest factor that influences the individual investors’ investment intentions. This paper suggests that investment managers should work on strategies to change the risk avoidance behaviour of investors. Moreover, findings suggest that the cultural aspect is more important, and the level of risk avoidance should be kept in mind while offering stocks in the market. The Security Exchange Commission of Pakistan can prepare risk-adjusted products to enhance the level of intentions among the individual investors in Pakistan.

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Microfinance institutions (MFIs) proved to be a powerful tool for financial inclusion through developing entrepreneurial activities in rural areas. MFIs provide small-scale loans to the poor who have no access to traditional banking and financial system. However, in the pursuit to meet their social obligation, MFIs need to be financially sustainable and this sustainability largely depends on the institution's characteristics. This study investigates the influence of MFIs' characteristics on their financial performance, using the panel dataset of 57 microfinance institutions from the member countries of the Organisation of Islamic Cooperation (OIC). The empirical results show that, as expected, the interest rate charged and the period of existence in the market have a significant positive relationship with the financial performance of MFIs. The results also indicate that credit union and cooperatives, non-bank financial institutions and non-governmental organisations outperformed their counterparts financially. Therefore, the study concludes that charging a high rate of interest may improve institutions' financial self-sufficiency; however, it is unable to secure MFIs' profit maximization strategy. Conversely, not-for-profit MFIs can ensure their financial viability while serving the poorest clients which is the prime goal of any microfinance program. Hence, MFIs can earn profits, but within limits, complying with their social promise at the same time.