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| Title | Abstract | Action(s) |
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| Inventory and Operational Accruals Management for Firm Profitability | This research study is intended to explore the relationship between inventory and operational accruals management and profitability of the Pakistani Manufacturing Firms listed on the Pakistan Stock Exchange (PSX). The reason is to ascertain how efficient control of the Inventory turnover period, account collection period, account payable period, and cash conversion period impacts the profitability of firms i.e. Return on Assets, Return on Equity, and Operating Profit Margin. The methodology entails the use of a robust quantitative analysis of financial data of a sample of 100 manufacturing firms for the period between 2014 and 2023. A longer Inventory Turnover Period negatively affects ROA, ROE, and OPM. The negative impact is statistically significant for all metrics, indicating that an extended period for inventory turnover is associated with lower profitability and efficiency. The negative coefficients for the constant term suggest a baseline level of loss or deficit prior to the influence of other variables. The statistical significance of these constants across all models indicates a robust and consistent baseline impact on each financial metric. The implications of the study may help practitioners and policymakers to improve financial performance by better managing the inventory and production processes. Possible future research themes are outlined, comprising cross-sectoral studies, the impact of technological growth, and the effects of other macroeconomic factors, to expand the knowledge of this relationship. This study, therefore, contributes to the broader understanding of how inventory and operational management practices influence the financial health and performance of manufacturing firms, providing valuable insights for stakeholders in the industry. |
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| Examining the impact of Leadership communication styles on women empowerment and organizational productivity in kabul, Afghanistan: The role of gender equality and the influence of Organizational culture | This study explores how Leadership communication styles contribute to empowering women and boosting the organization's productivity with the mediating role of organizational culture and the moderating influence of gender equality in Kabul, Afghanistan. This proposed study aims to understand how leadership communication affects women's empowerment and organizational productivity organizations and the role of gender equality and organization culture in Kabul, Afghanistan. By looking at how leaders communicate and their impact, we hope to find ways to improve gender equality and organizational performance. Ultimately, we want to help organizations in Kabul be more inclusive and empower women. Data was collected from different organizations in Kabul through surveys, targeting employees and leaders at collective levels. The quantitative method used in the data collection process, the data was collected from a sample of leaders and employees in different organizations in Kabul through questionnaires to gather quantitative data regarding perceptions of Leadership communication styles, women empowerment, organization productivity, gender equality, and organizational culture. The sample size for this research is 245 leaders and employees. The questionnaires will be translated into Persian language. Using SPSS software, the current research study will employ descriptive and inferential statistics. The gathered information will be examined using descriptive statistics for the studied variables. |
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| Budgetary Allocations for Growth and poverty reductions: A comparative study of Pakistan and Bangladesh | The primary goal of this study was to analyze the impact of Budgetary Allocations on Economic Growth and Poverty Reduction in Pakistan with comparative analysis with Bangladesh. Budgetary allocations were the independent variables which includes Education, Health, Infrastructure and Agricultural spending by governments while economic growth and poverty reduction was taken as dependent variable. Economic growth included GDP growth rate while Poverty reduction included Per Capita Income. The study used annual time series data ranging from 1972 – 2023 for both Pakistan and Bangladesh. E Views software was used for data analysis. Research utilized ADF unit root test to check stationarity of data. Correlational analysis confirmed that Education, Health, Infrastructure and Agricultural spending are significantly positively correlated to Economic Growth and Poverty Reduction for both Pakistan and Bangladesh. Auto Regressive Distributive Lag (ARDL) was then applied which yielded significant impact of budgetary allocations such as Educational spending, Health spending, Infrastructural spending and Agricultural spending on Economic Growth in Bangladesh and Pakistan. In summary comparison, it is identified that Bangladesh spending is more than Pakistan which accounts for greater impact on Economic Growth and Poverty Reduction. It is proposed that Pakistan should increase its spending on these sectors for achieving rapid Economic growth and Poverty reduction. |
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| Nexus between financial intermediation, entrepreneurship and economic growth | This study examines the relationship between financial intermediation, entrepreneurship, and economic growth across countries driven by innovation, efficiency and resources, as well as in Pakistan, with a particular focus to assess which type of economy benefits the most from entrepreneurship in this relationship. While financial intermediation is recognized as a key driver of economic growth and entrepreneurship, the interconnectedness between these domains remains underexplored. Using data of eighty four countries from 1996 to 2020 extracted from World Development Indicators, World Governance Indicators and International Labor Organization, the study applies pooled OLS, Fixed Effect, Random Effect, and Generalized Method of Moments models to analyze the direct effects of financial intermediation on economic growth and entrepreneurship globally, and within specific economic settings. Structural equation modeling (SEM) is employed to examine the mediating role of entrepreneurship. For the Pakistan-specific analysis, the Auto-Regressive Distributed Lag model is used for both long-term and short-term effects, alongside SEM to validate the mediating role. Key findings indicate that financial intermediation positively influences both economic growth and entrepreneurship across all types of economies, including Pakistan. Entrepreneurship significantly mediates the relationship between financial intermediation and economic growth globally, however with varying impacts across different economic contexts. In innovation-driven and efficiency-driven economies, entrepreneurship plays a significant mediating role, while in resource-driven economies; entrepreneurship does not play any mediating role and remains largely necessity-driven, with weaker financial systems and governance structures limiting its potential. While efficiency-driven economies see a higher mediation effect, suggesting that these economies benefit the most from entrepreneurial activity in the finance-growth nexus. In the case of Pakistan, the study finds that entrepreneurship significantly mediates the effect of financial intermediation on economic growth, highlighting the need for robust financial intermediation, government effectiveness, and rule of law. The findings suggest that in innovation-driven economies, policies fostering venture capital ecosystems are critical, while in resource-driven economies, financial inclusion programs and microfinance initiatives should be prioritized to improve entrepreneurial ecosystems, and address unemployment through entrepreneurship aiming to foster sustainable economic growth. |
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| The Role of Investor’s Sentiments in Stock Returns: Evidence from Pakistan Stock Exchange Listed Firms | This study investigates the impact of investor sentiments on stock returns in the Pakistani equity market, along with the effect of stock return volatility and the lead-lag relationship between sentiment indicators and returns. This research is the first to study investor sentiment proxies rather than a joint index with some novel proxies, i.e. share mispricing, bond yield spread, and gold bullion in the context of Pakistan. Unlike prior research that commonly uses a composite sentiment index, this study employs disaggregated sentiment proxies to capture distinct dimensions of investor psychology, which enhances precision in identifying their individual effects. This study uses panel data of 49 non-financial firms, taken quarterly from 2012-2019, covering 1464 observations of the unbalanced panel. The Fully Modified Ordinary Least Square model, Granger Causality Test and Vector Autoregressive Model are used in the study for hypotheses testing. The results support seven of nine hypotheses, covering all investor sentiments’ proxies: share mispricing, bond yield spread, gold bullion, consumer confidence index, turnover, advance-decline ratio and relative strength index. However, the hypothesis related to stock return volatility is rejected. Granger causality tests indicate a mixed lead-lag relationship, with unidirectional and indecisive patterns for some proxies. The VAR model further reveals significant lagged and directional effects of sentiment indicators on stock returns, confirming a dynamic lead-lag relationship. These findings align with existing literature from both developed and emerging markets. The policy implications are threefold: investors can optimize risk-return outcomes by incorporating sentiment signals; financial institutions may enhance risk assessment and product design; and policymakers can leverage sentiment analysis to stabilize markets. Despite data and methodological constraints, this study provides a novel lens into behavioural finance in Pakistan, offering a foundation for future research on investor psychology in frontier markets. |
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