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Impact of Organizational Learning on Perceived Small & Medium Enterprises (SMES) Performance with Moderation of Leadership Role The concept of organizational learning is area of attention for academicians and practitioners because of its potential to sustain the organization performance while the SMEs are an emerging business structures in Pakistan. The organizational learning contributes significantly in the value of performance of corporate and as well to small business structures. The empirical purpose of this study was to investigate impact of organizational learning on perceived SMEs performance and further with moderation of leadership role. The theoretical consideration was empirically tested through research design of cross-sectional, non-contrived and IT base industry of SMEs. The survey was conducted for collection of inductive data and 129 respondents were valid and considered for analysis. The statistical tests were applied for empirical investigation and results reveal that; there is significant contribution of organizational learning in perceived SMEs performance and each dimension of organizational learning is also significant predictor of perceived SMEs performance while shared vision has higher rank among system thinking, personal mastery, mental model and team learning. The further results depict that leadership role is not significant moderator in relationship of organizational learning and perceived SMEs performance however team leadership may moderate this relationship which is also recommended for future research in IT base SMEs which configuring the organizational learning and performance.
Effect of Family Control on Firm Value and Financial Performance (Evidence From Non-Financial Sector of Pakistan) This study is conducted to analyze the relationship of Ownership Structure with Firm Performance in non-financial companies listed at Karachi Stock Exchange during the period 2008 to 2013. The basic focus in this study was related to the performance of family firms as compared to non-family firms. The distinction between both types have been explained in literature review with the help of definitions given by different authors and scholars. Keeping in view the research aims and objectives the researcher has taken non-financial sector of Pakistan as population/ unit of analysis. Afterward, the researcher has adopted simple random sampling technique in accordance to research requirements and extracted a sample of 120 firms for analysis purpose. All these firms are listed on Karachi Stock Exchange (KSE). Tobin's Q, ROA and ROE have been used as a proxy variable to explore the firm value and firm's financial performance. The researcher has incorporated 8 independent variables i.e. firm type (family/ non-family), ownership concentration, founder/ descendent firm, age, size, growth, leverage, and interest coverage ratio. Sophisticated data analysis techniques such as descriptive, correlational, panel data regression analysis have been used. Panel Data technique has also been employed to identify the significant relationships among the variables. Results showed that Family firms are negatively correlated and Non-Family firms gives better performance. Whereas Concentrated Ownership has shown significant relationship but negative correlation with proxy variables (ROA = -0.1627; ROE = -0.0381; Tobin's Q = -0.0938). On the basis of results obtained through data analysis it is concluded that Firm Performance critically depends on Managerial Ownership. Panel data analysis has shown that firm leverage and size has no relationship with proxy variables while remaining independent variables have significant relationship with performance variables. Agency problems arise due to increase in Managerial Shareholdings in Pakistani context, which ultimately affects the performance of the firms.
Impact of Social Media on Customer Satisfaction in Selected FMCG Items: Moderation Role of Customer Trust The present study had been designed to explore impact of social media marketing on customer's satisfaction and moderating role of the trust of customer's on FMCG products. Companies are currently utilizing social networks to advance data about their brands. Online social networking sites such as Facebook, Twitter and My Space etc. have a significant impact on customer's life. This social media has a direct effect on how the clients impart, offer data, keep up their profiles and secure connections with their friends. The rapid use of social media marketing, organizations have to change their way to respond consumer's needs and wants and changing the way they respond to their competitors. The growth of social media marketing and electronic word of mouth has allowed consumers to interact with each other in the virtual world and to share their perceptions and feelings towards FMCG items which are available on social media sites. Because of commitment of individual's social networking particularly Facebook have part more commitment in social activism in Pakistan. Numerous social changes has been perceived and reported by the traditional media. The major objective of study is to explore the impact of social media in terms of satisfying customer needs for purchase decisions of FMCG items. The present study was conducted in the Faisalabad and Lahore cities. 5 shopping malls were selected from each city as population and the sample of 204 respondents was selected conveniently from the customers of these shopping malls. Moreover, data was collected by using mall-intercept technique with the help of questionnaire and analyzed by using SPSS. Frequency, percentage and simple linear regression were used to check the central tendency. When regression was applied the value of R2 was 0.201 which depicts that 20.10 % customer satisfaction was due to social media. Interaction term was created to check the role of customer trust as moderation effect. Change in R2 was 0.239 which depicts that the relationship of social media and customer satisfaction was increased up to 23.90 % in the presence of customer trust. Customer trust played significant role as moderator in the relationship of social media and customer satisfaction. It was found on the basis of statistical techniques majority of the respondents were satisfied with the social media marketing. This study will help to the companies to target their customers via social media according to their needs and wants. This study will also help those companies who did not yet start to use social media for marketing purpose.
Impact of Macroeconomic Variables and Their Fluctuation on Emerging Asian Stock Prices The present research tries to examine the impact of macroeconomic indicators and their fluctuation on the Asian emerging stock prices. Over the last three decades these variables affect the stock prices of emerging stock markets. The Asian emerging stock markets are most attractive, active and fast growing stock markets in all over the world and these stock markets played an important role for the economic growth of Asian countries. The Asian emerging stock markets consists of eight Southeast Asian countries named as Shanghai stock exchange (China), Bombay stock exchange (India), Bursa Malaysia stock exchange (Malaysia), Korea stock exchange (Korea), Taiwan stock exchange (Taiwan), Jakarta stock exchange (Indonesia), Philippines stock exchange (Philippines) and stock exchange of Thailand (Thailand). To examine the macroeconomic impact this study used six macroeconomic variables i.e. inflation rate, interest rate, exchange rate, crude oil prices, money supply 2 and foreign exchange reserves and for analysis used twenty three semiannually panel time series data for the periods of 1992 to 2014. In this study various statistical techniques applied for analysis like descriptive statistics, Hausman test, fixed effects model and ARCH-GARCH technique. Basically descriptive statistics performed for temporal properties of data and results showed that the data are not normally distributed. While the findings of fixed effect models showed that all the six macroeconomic variables have significantly positive impact but interest• rate and exchange rate these two have negative impact on the eight Asian emerging stock prices. The last findings of ARCH-GARCH test indicate that the exchange rate and interest rate negatively affect the stock prices of most of the stock markets. The foreign exchange reserves have greater impact but positively affects the stock prices of most of the countries stock market. While the implication is that the local and foreign investors should to thoughtfully judge the macroeconomic forces to make rational investment decisions. The government and the policy maker should keep in mind the effect of these macroeconomic variables during a monetary policy construction process. It is also useful for investors to determine either by these six macroeconomic variables the risk is diversified in these eight Asian emerging stock markets.
Antecedents of Customer Retention in Telecom Industry of Pakistan: Mediating Role of Customer Satisfaction Telecom industry of Pakistan has been grown up in recent years despite facing many competitive challenges similar to other industries across the globe. It is still enchanting new entrants to come into play. The purpose of this research is to propose and test a model of customer retention in the Telecom industry of Pakistan. Moreover, the study aims to identify the key determinants of customer retention related to telecom service providers. It investigates the effects of perceived service quality and brand image towards customer retention. This study also shows how mediating variable like customer satisfaction influences the relationship between perceived service quality and brand image towards customer retention. Successful organizations know that the key to triumph lies in their customers. Hence in today's world, the companies who do not provide value to their customers offer an opportunity for the competitors to jump inside and pilfer these customers. Customer satisfaction with company's offerings is often seen as crucial for victory and long-term competitiveness. In the context of relationship marketing, customer satisfaction is often viewed as one of the central determinants of customer retention. Hence, this study was executed with the sample of three hundred and ten customers in the third largest city of Pakistan, Faisalabad. Customers were the network users from both public and private sectors such as universities, banks and shopping malls. Questionnaires were utilized as the research instrument for collecting data. Data were collected through non-probability sampling technique. Regression analysis and Sobel test technique were practiced to test the hypothesized relationship amongst independent, mediating and dependent variables using SPSS. The findings of the result suggest that operators from Telecom Industry must consider that they should focus on the vital and core point of customer retention. This study helps to have deep insights for the managers of telecom industry to check, where do they lack and what are their urgent need for the growth in longer run. As customers are the essential asset for any organization and looking for new customers is relatively difficult task with respect to monetary and time cost associated with it. As, service quality will be ultimate battle field for all operators to retain their subscribers for longer time. As customer retention relies on brand image and service quality of network provider strongly, such reliance is further strengthened with mediating role of customer satisfaction. Thus, every successful organization earns brand image when it satisfies and retains customers through better services. This overall work on retention is going to reinforce the acute signification of customer retention in telecom industry.
Dynamic Relationship Between Exchange Rate and Stock Return: Evidence From SAARC Countries The Purpose of this study is to explore the relationship between stock returns and exchange rates while interest rate and inflation used as control variables in SAARC economies; namely India, Bangladesh, Pakistan, Sri Lanka, Bhutan, Maldives, Afghanistan. Panel unit root applied to check the stationary between exchange rate and stock return ADF technique has been applied for this purpose and Error Correction Model used to check the short run relationship between exchange rate and stock return while panel ARDL applied to check the long run relationship between exchange rate and stock return and among all other variables. Unit root results indicated that exchange rate and inflation on level while interest rate and stock return on 1st difference and VECM results indicated that short relationship exist among all dependent and independent variables. Results of Panel ARDL showed that interest rate and inflation have significant long run relationship while exchange rate have insignificant long run relationship with stock return. The descriptive statistics performed for temporal properties of data and showed that the data not normally distributed. The findings of fixed effect models showed that all the three macroeconomic variables like exchange rate, interest rate and CPI have significantly positive impact on the SAARC stock markets. While the implication is that the local and foreign investors should to thoughtfully judge the macroeconomic forces to make rational investment decisions and the government and the policy maker should keep in mind the effect of these macroeconomic variables during a monetary policy structure process and also useful to determine either by these three macroeconomic variables the risk is diversified in these SAARC stock markets. The similar research can be repeated by adding new variables and by changing the nature of study into exploratory research.
Investigation Study of U-Commerce, Reliance and Privacy to Improve the Performance of Online Shopping in Pakistan As Internet has been introduced in the developed countries and in progress captured the big markets. With the passage of time, people discovered it's potential and made access easier. The industries and companies started focusing on the internet marketing. U-Commerce is what people dreamt about as a service that had the prospective which renovated. It referred to mostly the applications which were being provided on internet. This study focused on the concerns which the customers were fronting while buying online in Pakistan. Reliance, privacy and U-Commerce were the factors that affected the online buying. For this perseverance, a survey of 233 respondents was conducted using a questionnaire. SPSS 21 registered version was used and correlation and regression analyses were run. The results identified that there is a positive correlation of independent variables (reliance, privacy and U-Commerce) with dependent variable (online shopping).The significant impact was find out by regression test. It was proved that there is a positive impact of independent variables on dependent variable. There were scarcely any researches conducted on this topic in Pakistani setting and the study was theoretically restricted due to unavailability of secondary data. This study focused urban cities in Pakistan so results could not be generalized. Another aspect of the future research is enclosure of other independent variables subsidizing towards the online shopping so that the real obstacles in online spending should be acknowledged and reduced in future.
Mediating effect of Store Image in Relationship with Service Quality and Purchase Intention of Private Label Brands Purpose of this study was to assess the effects of service quality on private label brands moreover this research is also focused on studying the mediating effects of store image on service quality and private label brands in Faisalabad retail grocery sector. As service quality of a store also helps to build the image of a store and consumers make confidence and trust on retail outlet as well as towards the retailer's products. To achieve the said purpose following objectives were developed. Investigate the impact of service quality on purchase intention of private label brands. Investigate the relationship between the service quality and store image. Identify the impact of store image on purchase intention of private label brands. Estimate the mediating effect of store image between service quality and the purchase intention of Private label brands. This research study is focused on the target population of Faisalabad territory. Data is primarily collected through the questionnaire from the consumers of retail super stores of Faisalabad. The research results are checked through SPSS. Correlation, Regression, Multiple Regression, Test were applied. For the reliability check Cronbach's alpha test has been used. It is test which measures the internal consistency that how much the items are related each other. Normally the value ranges 0 to 1. The acceptable value for alpha is > .6 and value of Cronbach's Alpha for variables of this study is not less than the acceptable standard value. A multiple hierarchal regression test revealed a statistically positive and significant relationship between Store Image and Purchase Intention. To analyse the service quality provided by the retailer on intention to buy private labelled products, again regression analysis was used. Finding point out that service quality is influencing the intention to purchase private labelled products. Then to check the mediating effect of store image between service quality and purchase intention of Private Label Brands Barron and Kenny 1986 test has run and came up with the results that store image mediates the relationship between service quality and purchase intention of Private Label Brands. Implications of research study suggests that good quality of private label brands can influence the purchase intention of the customer. More over Pleasant decoration of the store also has the impact on the image of the store. Interaction between staff and consumers by aggressively introducing the Private Brands in the store should strong. The managers can reduce customer wait time in order to give them convenience for their overall shopping experience and making the image of the store positive. Findings of this study suggest that marketing managers can influence intentions of purchase by offering the Private lebel products in the price worthy of value. Improve the service environment quality by installing terminals to allow consumers to get information about Private Label Brands of the store as well as music, layouts.
Impact of HR Outsourcing on Organizational Performance: A Multi Mediating Variables study The rationale of this research study was to investigate the impact of HR Outsourcing on perceived organizational performance, also determining the mediating role of job satisfaction and organizational commitment in beverage industry of Pakistan. Literature guided about the direction of research, studying job satisfaction, organizational commitment, and perceived organizational performance, in context of human resource outsourcing assist to identify the research gap. Front level, middle level managers of beverage industry were taken as the total population for this study from Faisalabad region. Data was collected through structured questionnaire and were distributed by using convenient sampling technique. Questionnaires were distributed to 250 individuals. The statistical techniques used in this study to analyze the data are frequency distribution, descriptive statistics, the Pearson's correlation and regression analysis. Data was analyzed with the help of SPSS software version 20. Results conclude that there is a positive and significance relationship between human resource outsourcing and organizational performance, findings also shows that mediators (Job satisfaction and organizational commitment) is influencing between dependent and independent variable. Managerial implications suggest that organizations should establish effective communication across all level of the organization and involve employees in the phase of outsourcing HR process
The Influence of Store Environment and Shopping Enjoyment Tendency on Impulse Buying Behavior: Mediating Role of Urge This research investigated the effect of four components of retail store environment (light, employees, layout and music) and shopping enjoyment tendency on impulse buying behavior. The data were obtained using convenient sampling technique from 214 customers. Mall intercept survey was used to collect data from different retail stores in the city of Faisalabad. SPSS 20.0 software version was used for data analysis. Different statistical methods such as Frequency Distribution, Correlation, Regression analysis and Cronbach alpha were used for analyzing the data in this research. The mediation analysis was conducted by Baron and Kenny (1986). Findings revealed that store environment drove impulse buying through urge. Results also showed that individual variable shopping enjoyment tendency influenced impulse buying through urge. Moreover, this research has some limitation as list of antecedents of impulse buying, and to the outcomes of store environment. From a managerial viewpoint, retail managers should invest in improving the store environment to increase the level of impulse buying in their stores. Specifically, they need to focus on enhancing friendliness of store employees, playing appropriate music, designing proper layouts and having well-lit stores to encourage impulse buying.
Relationship Between Investment and Cash Flow Under High and Low Investment Opportunities: Evidence From Pakistani Manufacturing Firms This research is related to the examination of the relationship of cash flow and level of investment under high and low investment opportunities of 167 Pakistani non-financial manufacturing firms listed in the Karachi Stock Exchange (KSE) during the period 2004-2013. It includes two definite objectives 1) to investigate the relationship between investment and cash flow under high investment opportunities manufacturing firms listed on KSE for the period 2004 to 2013. 2) to investigate the relationship between investment and cash flow under low investment opportunities manufacturing firms listed on KSE for the period 2004 to 2013.Tobin's Q is employed to capture the investment opportunities and sales are taken as control variable. A panel data regression model is used to investigate the relationship of cash flow, Tobin's Q and sales on the level of investment. In case of high investment opportunities firms, the relationship of investment and cash flow is positive and significant while under low investment opportunities firms, this relationship is also positive but insignificant. These results indicate that the high opportunities firms rely mostly on internally generated cash flow where as the low investment opportunities firms prefer to distribute its earning as dividend.
Customers Personality Traits and Brand Loyalty: Mediating Role of Brand Personality Purpose: The main objective is to check the importance of customer's personality traits in female apparel brands sector and its effect on brand personality that ultimately effect brand loyalty. Study also investigates the mediating role of brand personality. Methodology: A conceptual model explaining the relationship among customer's personality traits, brand personality and brand loyalty is developed. Brand personality plays the role of mediating variable in the model. Target population is the female customers of 11 selected female apparel brands of Faisalabad, Pakistan. Convenience sampling technique is used and sample size is 210. Questionnaire is used for the collection of data via using store intercept technique. Correlation and regression techniques are used for the analysis of data. Baron and Kenny 1986 approach is used to check the mediating effect of brand personality and for the analysis of data SPSS.19 software is used. Findings: Results found positive relationships of extroversion, agreeableness, conscientiousness and openness to experience customer's personality traits with brand personality and brand loyalty. Negative relationship of neuroticism customer personality trait is found with brand personality and brand loyalty. Brand personality fully mediates the relationship between extroversion customer's personality trait and brand loyalty. Brand personality partially mediates the relationship between agreeableness customer's personality trait and brand loyalty. Brand personality fully mediates the relationship between conscientiousness customer's personality trait and brand loyalty. Brand personality partially mediates the relationship between neuroticism customer's personality trait and brand loyalty. Brand personality also partially mediates the relationship between openness to experience customer's personality trait and brand loyalty. Research Limitations: Further investigation should be done by increasing sample size, including male respondents also and selecting brand of different industry. More dependent variables like brand satisfaction, repatronage intentions and word of mouth can be included in the model. Managerial Implications: Research highlights the importance of customer's personality traits and brand personality for female apparel brand managers and how brand managers can develop the personality of their brands for developing brand loyalty.
The Impact of Developmental Human Resource Practices on Employee Work Engagement: A Case Study of Shaukat Khanum Cancer Hospital and Research Center Lahore The developmental human resource practices (DHRPs) which include training, job rotation and job enrichment contribute significantly to the accomplishment of an organization's objectives. DHRPs are important in term of strategic interventions designed to develop resourceful employees and to elicit their work engagement to the organizational goal. Sceptics have conceptualized DHRPs as the 'iron fist in the velvet glove'. The study hypothesized that there exist a relationship between DHRPs and work engagement. The study further hypothesized that the relationship between DHRPs and work engagement is moderated by the factors like commitment, job satisfaction, health and safety and burnout. The main focus is on the impact of DHRPs practices on work engagement. Empirically, study Shaukat Khanum Memorial Cancer Hospital and Research Center Lahore (SKCH) for exploring the link between DHRPs and employee's work engagement. A sample of 359 employees of SKCH was questioned through a survey. The Pearson correlation results reveal a significant positive correlation between training, job rotation, work engagement, commitment, job satisfaction and health and safety but burnout is negatively correlated. The multiple regression technique is used to test hypothesis. The results demonstrated that the training, job rotation and job enrichment have positive impact on work engagement. Moderation analysis show that that commitment, job satisfaction health and safety have significant positive role as a moderator, but burnout is found as a negative moderator. This study reinforces that the DHRPs have a potential impact on work engagement and concluded that developmental human resource practices should be delineated after analyzing the moderating factors present in the specific work environment. The element of burnout is needed to be addressed properly. In practice, this study points to a number of aspects that are amenable to the intervention of developmental human resource practices in order to promote work engagement. Moreover, future policies and recommendations are also presented for strategic DHRPs implementation.
Investment Behavior of Generation Y: A study Based on Experience of Employees Working in Financial Institutions of Pakistan Investment behaviour comes under the field of behavioural finance. It is a process of investors' decision making at micro level. The process based on some specific features of investment products and services. This study was subjective in nature and cleared the scope of quantitative research in this regard to understand the investment behavior of generation Y investors while they are investing in the stock markets. A purposive sampling technique was used to collect data from the 325 respondents representing generation Y working in financial institutions. A structured questionnaire technique was used for data collection so the analysis could reflect true results. Multiple regression analysis technique was used to test the study hypotheses. The findings of this study indicates that investment choices, level of risk and behavioural biasness have direct influence on the portfolio selection of the generation Y investors and they are not behaving according to traditional theories of finance. The results also demonstrate that the generation Y investors of financial institutions understand the stock selection criteria and perceived risk attitudes toward the investment decisions. Theoretically, this study provides a possible solution to understand the behaviour of generation Y investors. Practically, this study is helpful for financial institutions to suggest best financial securities according to the behaviour of generation Y investors. At the end, this study also contributing in the existing literature on the behaviour of generation Y investors.