Bahria University Journal Of Management & Technology

Investigating profitability of Technical Trading Rules around COVID pandemic: Evidence from PSX

Hammad Hassan Mirza — 2024-06-30

This paper investigates the role of technical analysis in predicting the stock prices of listed companies on the Pakistan Stock Exchange (PSX). Technical indicators such as Moving Average Convergence/Divergence (MACD), Relative Strength Index (RSI), Bollinger Bands (BB), and Money Flow Index (MFI) are evaluated to explore their significance for stock gains in the Pakistan Stock Exchange. For this purpose, daily price data from 29 companies listed on the PSX was collected during the period from 2018 to 2022. This sample period provides a unique opportunity to analyze the impact of Covid-19 on the accuracy of technical trading signals. MACD, RSI, BB, and MFI are calculated, and the accuracy of the results is then assessed. Evidence from the PSX highlights that these indicators perform differently across various sectors. The t-test outcomes indicate significant differences in results before and after Covid-19, emphasizing the impact of the pandemic on stock movements. Based on these results an index has been developed and proposed to aid future decision-making processes.

Revitalizing Pakistan's Telecommunication Sector: Analyzing the Impact of Transformational Leadership Styles and Job Autonomy on Employee Vitality, with the Moderating Role of Self-Efficacy

Javeria Aftab — 2024-06-30

This research study investigates the relationship between transformational leadership (TL), job autonomy (JA), self-efficacy (SE), and employee vitality (EV) in organizational contexts. This study, based on Self-Determination Theory, examines how these elements interact to impact employees' perception of vitality, excitement, and motivation at work. Data was acquired from telecom industry employees using a survey method and was analyzed through SPSS and Smart PLS. The findings show that transformational leadership is crucial in increasing employee vitality, underlining the relevance of inspiring leadership approaches in cultivating a vibrant workforce. Furthermore, job autonomy has been revealed as a strong predictor of employee vitality, emphasizing the importance of job design in influencing individuals' motivation and well-being. However, the study fills a significant research gap and adds a vital dimension by investigating the moderating influence of self-efficacy, or a person's conviction in their ability to do tasks. The findings show that self-efficacy moderates the links between transformational leadership and employee vitality considerably. Employees with higher degrees of self-efficacy gain even more from transformational leadership in terms of vitality. These findings have far-reaching consequences for both organizational practice and future study. They emphasize the need of leadership development, job design, and self-efficacy cultivation inside enterprises to enhance employee vitality. The study also encourages additional research into the dynamics of these relationships and the environmental and individual variables that may impact the reported effects

Determinants of Socially Responsible Investment (SRI) Intention

sidra Gazali — 2024-06-30

There has been a recent surge of interest in socially responsible investment, attracting attention from all industries, including investors. Nevertheless, the factors that impact one's attitude and attention towards SRI remain relatively unexplored. Hence, this study aims to identify important factors that shape the attitude and attention of consumers when making investment decisions in the stock market. The data is obtained from investors who are making investments in the Pakistani stock exchange. The data analysis employs the technique of partial least squares structural equation modelling (PLS-SEM). The study findings indicate a substantial relationship between collectivism, knowledge, and SRI bias, and the attitude towards SRI. However, there is no significant association between perceived danger and attitude towards SRI. Attitude exhibits a robust and meaningful correlation with SRI.

Impact of Personal Networks of Ethnic Minority Female Entrepreneurs on Growth Construct: Blend of Egocentric and Narrative Analysis

Asma Basit — 2024-06-30

The paper aims to explore and explain the content and structure of personal networks of immigrant and British-born Pakistani female entrepreneurs for business growth. Pakistani female entrepreneurs represent a distinct segment of ethnic minority entrepreneurs as they represent an interesting blend of socio-economic, religious and socio-cultural traits. This research study underscores the interactional dimension of personal networks and its impact on the growth of their business. It is mainly the contents and interactions within a network that determines the quality of a network and its influence on relevant aspects of network members. In order to explore the meaning and perceptions attached to relationships and their use for entrepreneurial ventures’ growth, an egocentric network analysis is applied to narratives of Pakistani female entrepreneurs (the ego). Narratives were collected through in-depth interviews with ‘name generator’ questions. Egocentric network analysis was carried out using sociograms to explore the formation and nature of network ties. By generating an in depth understanding of the distinctive use of personal networks for growth of business by Pakistani female entrepreneurs the paper provides in depth knowledge and understanding of a particular ethnic minority group that will be of use to business owners (Pakistani female entrepreneurs), academic researchers and policy makers.

Corporate Diversification and Divided Policy: Evidence from Pakistan Stock Exchange

Hafiza Wajeeha Nisar — 2024-06-30

The aim of this study is to analyze how corporate diversification influences dividend policy. The sample of the study is 162 non-financial sector firms in Pakistan, with the sample from 2012 to 2021. The present study is carried out based on secondary data. OLS regression analysis is used for the analysis. Overall analysis reveal that industrial diversified firms have significant impact on dividend payout ratio. The results show that companies in diversified industries have more stable and varied income streams, allowing them to routinely distribute a bigger amount of their earnings as dividends to shareholders. In contrast geographical diversified firms show significant impact on dividend yield. It indicates that enterprises with a diverse customer base and lower risk exposure have more stable cash flows and greater dividend yields. The fact is geographic diversification gives operational flexibility, risk reduction, and a competitive advantage, allowing enterprises to make consistent dividend payments. The study's findings are useful for Pakistani businesses, investors, and politicians. They emphasize the impact of dividend policy on diversification and sector-specific dynamics. These findings can be used to drive strategic decisions and policy activities targeted at improving dividend attractiveness, managing investor relations, and fostering long-term financial practices in Pakistan's business environment. This study contributes to our understanding of the impact of diversification types on firm-level dividend policy.

Illusion of One-Size-Fits-All: “A Qualitative Exploration of Work-Life Balance Among Young Professionals in Pakistan"

Tayyaba Kiran — 2024-06-30

This study explores the complex dynamics of work-life balance among young professionals in Pakistan, questioning the conventional idea of a universally applicable, one-size-fits-all strategy for balancing professional duties and personal life. Employing a qualitative research methodology, the study aims to unveil the intricate experiences, diverse perceptions, and adaptive coping mechanisms employed by young professionals (aged between 22 to 30) working in different industries of Pakistan with experience of 1 to 5 years, as they confront the intricate web of their burgeoning careers and personal lives. The findings not only provide insights into the unique contextual factors influencing work-life equilibrium but also contribute to a broader understanding of the individualized strategies adopted by young professionals in navigating the complexities inherent in their professional and personal spheres.

Determinants of Bank’s Financial Stability in Pakistan

Ahmed Hassan Jamal — 2024-06-30

The purpose of this study is to investigate the role of both internal and external factors in achieving better stability in context of Pakistani banking industry. The internal determinants that this research study have used are bank size, funding risk, liquidity risk, credit risk and return on assets while external variables utilized includes money supply and unemployment rate. The study contains 10 years secondary data over the period 2013-2022 of 24 commercial banks of Pakistan. This study conducted correlation analysis and GMM model estimation for analysis. The findings show that liquidity risk, bank profitability, funding risk and bank size have positive and significant impact on bank stability. On the other hand, credit risk effects negatively bank stability. The result showed that money supply positively affects the stability of banks in Pakistan. On the contrary, unemployment is negatively affecting banks stability. The findings of this study have important implications for policymakers, regulators, banks, investors, and other stakeholders in the Pakistani banking sector. By enhancing the understanding of the factors influencing bank stability, the research contributes to identifying the importance of development of evidence-based policies, risk management strategies, and regulatory reforms aimed at development of a stable and resilient banking system in Pakistan.

Navigating Socio-Economic Forces: Understanding FDI Patterns in OECD Economies

Mushtaq Ur Rehman — 2024-06-30

This study investigates the FDI patterns’ ecosystem within the OECD regions. The goal is to understand the multifaceted interaction of socio-economic mechanisms driving such patterns. Using a quantitative survey that incorporates patterns of the past and dynamics of the present, the research paper discusses the role that FDI flows in OECD countries have played throughout history. The way study employs OECD data, national data, as well as relevant international institutions such as the UNCTAD and the World Bank is the methodological framework. The analysis of both qualitative and quantitative data underpins the study through the methodology which pays particular attention to the correlation analysis, linear regression, and multiple regression within its framework. The research paper was based on a sample of 38 economically diverse OECD member states and looks into what factors promote foreign direct investment inflows and outflows, and what these could be, for instance, the economic size, level of industrialization, and how the trade is shared across regions. Besides, the study also points out some areas that would be worthy of adding to the list of questions to explore, for example, digital transformation, its impact on the trends of FDI, and the significance of FDI in regional economic integration. These results point to the fact that study should pay more attention to emerging socio-economic conditions and research have to adapt them when designing the policies and future strategies within the framework of international economic relations.

Fear of COVID-19 and Financial Sector of Tadawul Stock Exchange

Dr Ahmed Fraz — 2024-06-30

The objective of this study is to analyse the effect of the COVID-19 outbreak on the financial sector's equity returns, specifically focusing on Sukuk & Bonds (TSBI), Diversified Financials (TDFI), Banks (TBNI), Insurance (TISII), and the Tadawul All Share (TASI) Index. This will be done through the utilisation of t-test and event study technique. The event will take place from December 2018 to March 2020. The estimation period covers the time frame from December 2018 to December 2019. The pre-announcement phase of the WHO notice spans the month of January 2020, while the post-announcement phase encompasses February 2020 to March 2020. The study suggests that, prior to the alarm given by the WHO, the majority of the financial sector exhibits positive returns, with the exception of Banks. The results validate the substantial and adverse influence of the COVID-19 epidemic on Diversified Financials (TDFI), Banks (TBNI), and Insurance (TISII) following the global alert notice by the World Health Organisation (WHO). The study indicates that the Sukuk & Bonds (TSBI) sector has remained unaffected by the epidemic and has shown a favourable influence on returns. This industry provides a fixed interest rate and does not influence the expectations of investors. Saudi Arabia's government announced a stimulus package of $18.7 billion on March 20, 2020. The adverse consequences suggest that the policymakers failed to foresee this issue and did not take timely action. This study recommends that effective policies must be designed by the policymakers in anticipation of such pandemic outbreak that may help the investors to devise diversification strategies.

Preference or Eligibility? A Qualitative Inquiry into Agency and Communality in Gender, Employment Status and Hierarchical Levels in the Public and Private Banking Service Sector

Ayesha Ali — 2024-06-30

This study inquired into the concept that men and women are labeled with qualities associated to their gender, employment, and hierarchical levels. The objective is to study the communal/ agentic traits by each gender in the banks in service sector of Lahore, Pakistan. The paper employed qualitative strategy with semi-structured interview to gather information and themes from purposively chosen higher management personnel in the banks in the service industry of Lahore, Pakistan. The results showed that the gender, employment statuses and various hierarchical levels have a mixture of agency and communality. However, some new insights were also found regarding organizational structure, gender and spirituality in the qualitative information which proved beneficial for the organizational structure and employment.