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Dr. Farhan Ahmed
NED University of Engineering and Technology, Karachi 75270, Pakistan

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Journal article
Published: 18 May 2021 in Sustainability
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COVID-19 is certainly the first sustainability crisis of the 21st century. The paper examines the impact of COVID-19 on the Indian stock and commodity markets during the different phases of lockdown. In addition, the effect of COVID-19 on the Indian stock and commodity markets during the first and second waves of the COVID-19 spread was compared. A comparative analysis of the stock market performances and sustainability of selected South Asian countries is also included in the study, which covers the lockdown period as well as the time frame of the first and second waves of COVID-19 spread. To examine the above relationship, the conventional Welch test, heteroskedastic independent t-test, and the GMM multivariate analysis is employed, on the stock return, gold prices, and oil prices. The findings conclude that during the different phases of lockdown in India, COVID-19 has a negative and significant impact on oil prices and stock market performance. However, in terms of gold prices, the effect is positive and significant. The results of the first wave of COVID-19 infection also corroborate with the above findings. However, the results are contradictory during the second wave of coronavirus infection. Furthermore, the study also substantiates that COVID-19 has significantly affected the stock market performances of selected South Asian countries. However, the impact on the stock market performances was only for a short period and it diminished in the second wave of COVID-19 spread in all the selected South Asian countries. The findings contribute to the research on the stock and commodity market impact of a pandemic by providing empirical evidence that COVID-19 has spill-over effects on stock markets and commodity market performances. This result also helps investors in assessing the trends of the stock and commodity markets during the pandemic outbreak.

ACS Style

Farhan Ahmed; Aamir Syed; Muhammad Kamal; Maria De Las Nieves López-García; Jose Ramos-Requena; Swati Gupta. Assessing the Impact of COVID-19 Pandemic on the Stock and Commodity Markets Performance and Sustainability: A Comparative Analysis of South Asian Countries. Sustainability 2021, 13, 5669 .

AMA Style

Farhan Ahmed, Aamir Syed, Muhammad Kamal, Maria De Las Nieves López-García, Jose Ramos-Requena, Swati Gupta. Assessing the Impact of COVID-19 Pandemic on the Stock and Commodity Markets Performance and Sustainability: A Comparative Analysis of South Asian Countries. Sustainability. 2021; 13 (10):5669.

Chicago/Turabian Style

Farhan Ahmed; Aamir Syed; Muhammad Kamal; Maria De Las Nieves López-García; Jose Ramos-Requena; Swati Gupta. 2021. "Assessing the Impact of COVID-19 Pandemic on the Stock and Commodity Markets Performance and Sustainability: A Comparative Analysis of South Asian Countries." Sustainability 13, no. 10: 5669.

Research article
Published: 25 April 2021 in Environmental Science and Pollution Research
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Air pollution brings uncountable serious influences on human life during the last decade. This study is an attempt to compare economic liberalism with economic federalism in examining the problem of air pollution in the Asia-Pacific region. Economic analysts have different views with one school of thought arguing that air pollution is the cause of the failure of a free economy rather than the failure of government regulations, while another supports liberal economics and vice versa. After developing a conceptual framework, the study uses the technique of fuzzy set qualitative comparative analysis (fsQCA) to examine how the rule of law, the size of government, regulatory efficiency, and the openness of the market influence air pollution in countries across the region. The analysis identifies two solutions with government size being found to be a necessary and core condition that influences air pollution. The study thus provides insights and suggests that government spending, taxation, and other financial health policies can be used as key sources to control air pollution in the Asia-Pacific region.

ACS Style

Safdar Husain Tahir; Shazia Kousar; Farhan Ahmed; Muhammad Rizwan Ullah. Impact of economic freedom on air pollution: configuration analysis of Asia-Pacific region. Environmental Science and Pollution Research 2021, 1 -10.

AMA Style

Safdar Husain Tahir, Shazia Kousar, Farhan Ahmed, Muhammad Rizwan Ullah. Impact of economic freedom on air pollution: configuration analysis of Asia-Pacific region. Environmental Science and Pollution Research. 2021; ():1-10.

Chicago/Turabian Style

Safdar Husain Tahir; Shazia Kousar; Farhan Ahmed; Muhammad Rizwan Ullah. 2021. "Impact of economic freedom on air pollution: configuration analysis of Asia-Pacific region." Environmental Science and Pollution Research , no. : 1-10.

Journal article
Published: 25 March 2021 in Borsa Istanbul Review
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Institutional quality and financial development are important pillars of sustainable economic growth; this study explains the role of institutional quality and financial development in green growth in the South Asian economies over the period 2000-2018 with data from the World Bank. This study examines long-run cointegration among the variables modeled using the cointegration techniques by Pedroni, Kao, and Westerlund. Our results of panel cointegration approaches reveal long-run cointegration between financial developments, institutional quality, and green growth. Further, the study employs fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) to examine the role of institutional quality and financial development in green growth in the long run. Our findings reveal that institutional quality and financial development are driving factors in promoting green economic growth in the long run. This paper shows the important policy implications of promoting green growth in the South Asian economies.

ACS Style

Farhan Ahmed; Shazia Kousar; Amber Pervaiz; Aiza Shabbir. Do institutional quality and financial development affect sustainable economic growth? Evidence from South Asian countries. Borsa Istanbul Review 2021, 1 .

AMA Style

Farhan Ahmed, Shazia Kousar, Amber Pervaiz, Aiza Shabbir. Do institutional quality and financial development affect sustainable economic growth? Evidence from South Asian countries. Borsa Istanbul Review. 2021; ():1.

Chicago/Turabian Style

Farhan Ahmed; Shazia Kousar; Amber Pervaiz; Aiza Shabbir. 2021. "Do institutional quality and financial development affect sustainable economic growth? Evidence from South Asian countries." Borsa Istanbul Review , no. : 1.

Journal article
Published: 10 December 2020 in Sustainability
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This study aims to investigate the relationship between renewable energy consumption, water availability, and environmental degradation with the moderating effect of governance in the South Asian region. This study collected data for renewable energy, water availability, governance, and environmental degradation for the period of 1988 to 2018 from the World Development Indicator. In panel data estimation, if cross-sectional dependence exists, it produces biased estimates. Therefore, this study applied a newly developed technique, dynamic common correlated effect, which produces efficient estimates in the presence of cross-sectional dependence. This study found that foreign direct investment positively and significantly increases environment degradation (β = 0.69 *, * indicates the significance level at less than 1%) while renewable energy and water availability cause to reduce environment degradation (β = −0.08 **, β = −0.09 **, **indicates the significance level at less than 5%). Moreover, the study also found that governance significantly strengthens the relationship of renewable energy and water availability with environment degradation (β = 0.37 **, β = 0.24 **) while governance significantly weakens the relationship of foreign direct investment and environmental degradation (β = −0.34 *). The study suggests that South Asian countries should improve political institutions, and promote renewable energy, water availability, and clean production to improve the environment quality.

ACS Style

Shazia Kousar; Farhan Ahmed; María López García; Nimra Ashraf. Renewable Energy Consumption, Water Crises, and Environmental Degradation with Moderating Role of Governance: Dynamic Panel Analysis under Cross-Sectional Dependence. Sustainability 2020, 12, 10308 .

AMA Style

Shazia Kousar, Farhan Ahmed, María López García, Nimra Ashraf. Renewable Energy Consumption, Water Crises, and Environmental Degradation with Moderating Role of Governance: Dynamic Panel Analysis under Cross-Sectional Dependence. Sustainability. 2020; 12 (24):10308.

Chicago/Turabian Style

Shazia Kousar; Farhan Ahmed; María López García; Nimra Ashraf. 2020. "Renewable Energy Consumption, Water Crises, and Environmental Degradation with Moderating Role of Governance: Dynamic Panel Analysis under Cross-Sectional Dependence." Sustainability 12, no. 24: 10308.

Journal article
Published: 25 September 2020 in Studies of Applied Economics
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The study aims to analyze the mediating role of environmental degradation in the association between energy consumption and poverty in South Asian countries. Data have been collected from the global economy and World Bank ranging from 1985-2018 on modeled variables energy consumption, poverty, environmental degradation, globalization, and population. This study utilized fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) methods for analyzing long-run relationships among the modeled variables. The study utilized the Sobel test and VAF to confirm the mediation. The results indicate a negative and significant impact of energy consumption on poverty. The findings revealed that environmental degradation partially mediates between energy consumption and poverty in the long run. The study recommends that the government of South Asian Countries ensure the availability of cheap and accessible energy for citizens to lower poverty and environmental degradation in South Asian countries.

ACS Style

Shazia Kousar; Farhan Ahmed; Amber Pervaiz; Mahwish Zafar; Sohail Abbas. A Panel Co-Integration Analysis between Energy Consumption and Poverty: New Evidence from South Asian Countries. Studies of Applied Economics 2020, 38, 1 .

AMA Style

Shazia Kousar, Farhan Ahmed, Amber Pervaiz, Mahwish Zafar, Sohail Abbas. A Panel Co-Integration Analysis between Energy Consumption and Poverty: New Evidence from South Asian Countries. Studies of Applied Economics. 2020; 38 (3):1.

Chicago/Turabian Style

Shazia Kousar; Farhan Ahmed; Amber Pervaiz; Mahwish Zafar; Sohail Abbas. 2020. "A Panel Co-Integration Analysis between Energy Consumption and Poverty: New Evidence from South Asian Countries." Studies of Applied Economics 38, no. 3: 1.

Journal article
Published: 22 September 2020 in Sustainability
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The aim of this study is threefold; first, the study investigates the symmetric impact of trade openness, financial development, and institutional quality on environmental degradation and environmental sustainability. Second, the study examines the asymmetric relationship between financial development, institutional quality, and environmental degradation. Third, the study examines the asymmetric relationship between financial development, institutional quality, and environmental sustainability. For this purpose, the study utilized the data of Pakistan from 1996 to 2018. The study applied Augmented Dickey–Fuller (ADF), Phillips Parron (PP) and Zivote, and Andrews unit root test to check the properties of stationarity of the data. This study applied the Auto Regressive Distributive Lags (ARDL) model to investigate symmetric relationships while the Non-Linear Auto Regressive Distributive Lag Model (NARDL) approach is utilized to investigate the asymmetric relationship among variables. ARDL bounds testing approach utilized to investigate long-run co-integration while short-run dynamics have been investigated by applying the error correction method (ECM). This study found the significant long-run symmetric and asymmetric association of institutional quality (IQ) and financial development (FD) with environmental degradation (ED) and environmental sustainability. However, IQ- has an insignificant association with environmental sustainability. Moreover, dynamic multiplier analysis indicates that positive shock to FD and IQ has a stronger impact on environmental degradation while a positive or negative shock to FD; both have a stronger impact on environmental sustainability. However, a positive or negative shock to IQ has a smaller impact on environmental sustainability. Moreover, the study also found a significant long-run symmetric association of trade openness with environmental degradation and environmental sustainability. This study suggests that the quality of institutions, financial development, and trade openness is necessary to enhance the quality of the environment.

ACS Style

Farhan Ahmed; Shazia Kousar; Amber Pervaiz; José Ramos-Requena. Financial Development, Institutional Quality, and Environmental Degradation Nexus: New Evidence from Asymmetric ARDL Co-Integration Approach. Sustainability 2020, 12, 7812 .

AMA Style

Farhan Ahmed, Shazia Kousar, Amber Pervaiz, José Ramos-Requena. Financial Development, Institutional Quality, and Environmental Degradation Nexus: New Evidence from Asymmetric ARDL Co-Integration Approach. Sustainability. 2020; 12 (18):7812.

Chicago/Turabian Style

Farhan Ahmed; Shazia Kousar; Amber Pervaiz; José Ramos-Requena. 2020. "Financial Development, Institutional Quality, and Environmental Degradation Nexus: New Evidence from Asymmetric ARDL Co-Integration Approach." Sustainability 12, no. 18: 7812.

Journal article
Published: 20 September 2020 in Liberal Arts and Social Sciences International Journal (LASSIJ)
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The Brain Drain (BD) is a cynosure of all the eyes because it has become a grave issue for Pakistan. Every year, thousands of students graduate from colleges and universities. Our markets cannot accommodate such a huge number of graduates so; these people prefer to migrate to other parts of the world. This paper attempts to investigate the factors affecting brain drain in Pakistan by utilizing the data for 1990 to 2018. Indices of variables are constructed in this study to measure the potential of factors causing migration from Pakistan to other developed economies. Secondary data has been taken from the World Development Indicator (WDI) and the Bureau of Emigration and Overseas Employment (BEOE). This study finds that in long run governance, financial stability, the standard of living, and infrastructure have a negative and significant impact on the dependent variable (Brain drain). Social openness does not show a significant impact on brain drain in the long run. This study concludes that brain drain in developing nations is a serious matter and it should be addressed on a priority basis. This study helps policymakers to develop policies to reduce the migration of highly skilled labour.

ACS Style

Shazia Kousar; Farhan Ahmed; Syeda Arfa Anam Bukhari. Macroeconomic Determinants of Brain Drain in the Era of Globalization: Evidence from Pakistan. Liberal Arts and Social Sciences International Journal (LASSIJ) 2020, 4, 24 -41.

AMA Style

Shazia Kousar, Farhan Ahmed, Syeda Arfa Anam Bukhari. Macroeconomic Determinants of Brain Drain in the Era of Globalization: Evidence from Pakistan. Liberal Arts and Social Sciences International Journal (LASSIJ). 2020; 4 (2):24-41.

Chicago/Turabian Style

Shazia Kousar; Farhan Ahmed; Syeda Arfa Anam Bukhari. 2020. "Macroeconomic Determinants of Brain Drain in the Era of Globalization: Evidence from Pakistan." Liberal Arts and Social Sciences International Journal (LASSIJ) 4, no. 2: 24-41.

Research article
Published: 25 August 2020 in Environmental Science and Pollution Research
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The study aims to analyze two objectives: first is to explore the non-linear relationship between tourism development, economic growth, urbanization, and environmental degradation, and also to analyze the threshold level of the contribution of tourism development on environmental degradation in top tourist arrival destinations. We applied the newly proposed econometric method panel smooth transition regression (PSTR) framework with two regimes on yearly panel data from 1995 to 2017. Findings suggest that the relationship between tourism development and environmental degradation is non-linear and regime dependent. Furthermore, the findings indicated that the relationship above the threshold level is negative and significant, while below the threshold, tourism development is positive and significant effect on environmental degradation. Tourism development and environmental degradation also exhibit the inverted U-shape relationship meaning that at a particular point, increase in tourism development increases in environmental degradation but after a particular point, increase in tourism development decreases the environmental degradation. The economic growth and urbanization also portray a non-linear and regime-dependent relationship with environmental degradation. The study assists policies and empirical information.

ACS Style

Syed Ali Raza; Muhammad Asif Qureshi; Maiyra Ahmed; Shahzad Qaiser; Ramsha Ali; Farhan Ahmed. Non-linear relationship between tourism, economic growth, urbanization, and environmental degradation: evidence from smooth transition models. Environmental Science and Pollution Research 2020, 28, 1426 -1442.

AMA Style

Syed Ali Raza, Muhammad Asif Qureshi, Maiyra Ahmed, Shahzad Qaiser, Ramsha Ali, Farhan Ahmed. Non-linear relationship between tourism, economic growth, urbanization, and environmental degradation: evidence from smooth transition models. Environmental Science and Pollution Research. 2020; 28 (2):1426-1442.

Chicago/Turabian Style

Syed Ali Raza; Muhammad Asif Qureshi; Maiyra Ahmed; Shahzad Qaiser; Ramsha Ali; Farhan Ahmed. 2020. "Non-linear relationship between tourism, economic growth, urbanization, and environmental degradation: evidence from smooth transition models." Environmental Science and Pollution Research 28, no. 2: 1426-1442.

Research article
Published: 06 June 2020 in Environmental Science and Pollution Research
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Financial development is identified as one of the significant factors that affect energy consumption and has been widely discussed in the literature. However, the association between financial development and renewable energy consumption is still at its earlier stage and is limitedly explored. Therefore, the purpose of this study is to examine the non-linear association between financial development and renewable energy consumption in the top renewable energy consumption countries. The study utilized the newly introduced econometric technique panel smooth transition regression (PSTR) model with two regimes on annual panel data consisted of years 1997–2017. The result confirmed that all the financial development indicators increase renewable energy consumption but affect renewable energy consumption differently. Moreover, the economic growth and industrial structure showed a positive and significant association in both regimes, whereas the population showed a negative relationship with renewable energy consumption in a low growth regime but the association becomes positive in high growth regimes. The study suggested several policies for the top renewable consumption countries.

ACS Style

Syed Ali Raza; Nida Shah; Muhammad Asif Qureshi; Shahzad Qaiser; Ramsha Ali; Farhan Ahmed. Non-linear threshold effect of financial development on renewable energy consumption: evidence from panel smooth transition regression approach. Environmental Science and Pollution Research 2020, 27, 32034 -32047.

AMA Style

Syed Ali Raza, Nida Shah, Muhammad Asif Qureshi, Shahzad Qaiser, Ramsha Ali, Farhan Ahmed. Non-linear threshold effect of financial development on renewable energy consumption: evidence from panel smooth transition regression approach. Environmental Science and Pollution Research. 2020; 27 (25):32034-32047.

Chicago/Turabian Style

Syed Ali Raza; Nida Shah; Muhammad Asif Qureshi; Shahzad Qaiser; Ramsha Ali; Farhan Ahmed. 2020. "Non-linear threshold effect of financial development on renewable energy consumption: evidence from panel smooth transition regression approach." Environmental Science and Pollution Research 27, no. 25: 32034-32047.

Journal article
Published: 27 May 2020 in Studies of Applied Economics
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This study aims to assess the impact of deal size, value and firm-specific factors on the performance of UK acquiring firms from 2006 to 2016 in short-run. The event window methodology was used to analyze short run effects and standard market model was used to calculate abnormal and expected returns. Short event window was made from one day before the announcement of CBM&A to the one day after the announcement date of the event and from five days before the announcement date to the five days after the date of the announcement of the deal and similarly from ten days before the event was announced for ten days after the event was announced (-1, 1), (-5, 5) and (-10, 10) respectively. The study infers that the UK acquirers do not earn statistically significant positive abnormal returns in the short run. The uni variate analysis shows that the short-run performance of UK acquirers is influenced by acquisition strategy, and the payment methods. After the fifth merger wave, international deals in merger and acquisition along with cross border deals started, which created the value for the economy as well. Since 1985, several deals have been done in the United States and the United Kingdom. This research paper is intended to provide empirical evidence on recent data of CBM&A transactions of the UK acquiring firms. The present study is a indispensable for the firms seeking cross border deals and fills the gap in the existing literature.

ACS Style

Suman Talreja; Sajid Hussain Mirani; Jawaid Ahmed Ahmed Oureshi; Farhan Ahmed. DO PRE & POST MERGER INTEGRATION MATTERS IN CROSS BORDER MERGER & ACQUISITION (CBM&A). Studies of Applied Economics 2020, 38, 1 .

AMA Style

Suman Talreja, Sajid Hussain Mirani, Jawaid Ahmed Ahmed Oureshi, Farhan Ahmed. DO PRE & POST MERGER INTEGRATION MATTERS IN CROSS BORDER MERGER & ACQUISITION (CBM&A). Studies of Applied Economics. 2020; 38 (2):1.

Chicago/Turabian Style

Suman Talreja; Sajid Hussain Mirani; Jawaid Ahmed Ahmed Oureshi; Farhan Ahmed. 2020. "DO PRE & POST MERGER INTEGRATION MATTERS IN CROSS BORDER MERGER & ACQUISITION (CBM&A)." Studies of Applied Economics 38, no. 2: 1.

Review
Published: 04 February 2020 in Studies of Applied Economics
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This paper aims to analyze the efficient stock market hypothesis as responsive to American Presidential Election, 2016. The meta-analysis has been done combining content analysis and event study methodology. The all major newspapers, news channels, public polls, literature and five important indices as Dow Jones Industrial Average (DJIA), NASDAQ Stock Market Composit Indexe (NASDAQ-COMP), Standard & Poor's 500 Index (SPX-500), New York Stock Exchange Composite Index (NYSE-COMP) and Other U.S Indexes-Russell 2000 (RUT-2000) are critically examined and empirically analyzed. The findings from content analysis reflect that stunned winning of Mr Trump from Republican Party worked as shock for American stock market. From event study, findings confirmed that all the major indices reflected a decline on winning of Trump and losing of Ms. Clinton from Democratic. The results are supported empirically and practically through the political event like BREXIT that resulted in shock to Global stock index and loss of $2 Trillion.

ACS Style

Farhan Ahmed; Salman Bahoo; Sohail Aslam; Muhammad Asif Qureshi. META-ANALYSIS ON AMERICAN PRESIDENTIAL ELECTION - 2016 AND AMERICAN STOCK MARKET. Studies of Applied Economics 2020, 38, 1 .

AMA Style

Farhan Ahmed, Salman Bahoo, Sohail Aslam, Muhammad Asif Qureshi. META-ANALYSIS ON AMERICAN PRESIDENTIAL ELECTION - 2016 AND AMERICAN STOCK MARKET. Studies of Applied Economics. 2020; 38 (1):1.

Chicago/Turabian Style

Farhan Ahmed; Salman Bahoo; Sohail Aslam; Muhammad Asif Qureshi. 2020. "META-ANALYSIS ON AMERICAN PRESIDENTIAL ELECTION - 2016 AND AMERICAN STOCK MARKET." Studies of Applied Economics 38, no. 1: 1.

Journal article
Published: 01 July 2019 in International Journal of Energy Economics and Policy
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Price determination through demand and supply forces is the most efficient pricing mechanism. But, these forces should be real rather than artificial. Speculative trade creates artificial market forces, which bounds to disturb real economy. It is argued that the demand and supply forces are primarily driven by speculation rather than fundamentals in the presence of commodity derivatives. The aim of this study is to empirically test this argument through causality analyses. Crude oil and USA has been selected as a typical case. Daily spot prices of west texas intermediate crude oil and future prices from New York Mercantile Exchange from January 2nd, 1986 to March 6th, 2017 has been analyzed. Granger causality test and vector error correction model are applied to find out the causal relationship between spot and futures prices. Results show that causality runs from runs from crude oil futures to spot prices, crude oil is just one of the numerous commodities, which are being speculatively traded through derivatives.Keywords: Causality Analysis, Crude Oil Pricing, Futures, Spot Prices, Vector Error Correction ModelJEL Classifications: D40, D49, E44, F01DOI: https://doi.org/10.32479/ijeep.7724

ACS Style

Salman Sarwat; Muhammad Kashif; Muhammad Aqil; Farhan Ahmed. DETERMINATION OF CAUSALITY IN PRICES OF CRUDE OIL. International Journal of Energy Economics and Policy 2019, 9, 298 -304.

AMA Style

Salman Sarwat, Muhammad Kashif, Muhammad Aqil, Farhan Ahmed. DETERMINATION OF CAUSALITY IN PRICES OF CRUDE OIL. International Journal of Energy Economics and Policy. 2019; 9 (4):298-304.

Chicago/Turabian Style

Salman Sarwat; Muhammad Kashif; Muhammad Aqil; Farhan Ahmed. 2019. "DETERMINATION OF CAUSALITY IN PRICES OF CRUDE OIL." International Journal of Energy Economics and Policy 9, no. 4: 298-304.

Articles
Published: 06 January 2019 in Asia Pacific Journal of Tourism Research
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The current study is intended to analyze the long-run relationship between deficit in balance of payments (BOPs) and tourism for the period of 1976–2015 using the autoregressive distributed lag (ARDL) model. The findings of the paper exposed an indirect relationship between tourism and BOP deficit in the context of Pakistan economy, while deficit balance of trade, real effective exchange rate, and deficit in fiscal balance have a positive and significant association with the deficit in the BOPs in the long run. Based on the findings, it is recommended that policies should be devised that promote the tourism industry of Pakistan as it would be helpful in reducing the deficit in the BOPs.

ACS Style

Rubina Rasheed; Muhammad Saeed Meo; Rehmat Ullah Awan; Farhan Ahmed. The impact of tourism on deficit in balance of payments of Pakistan: an application of bounds testing approach to cointegration. Asia Pacific Journal of Tourism Research 2019, 24, 1 -8.

AMA Style

Rubina Rasheed, Muhammad Saeed Meo, Rehmat Ullah Awan, Farhan Ahmed. The impact of tourism on deficit in balance of payments of Pakistan: an application of bounds testing approach to cointegration. Asia Pacific Journal of Tourism Research. 2019; 24 (4):1-8.

Chicago/Turabian Style

Rubina Rasheed; Muhammad Saeed Meo; Rehmat Ullah Awan; Farhan Ahmed. 2019. "The impact of tourism on deficit in balance of payments of Pakistan: an application of bounds testing approach to cointegration." Asia Pacific Journal of Tourism Research 24, no. 4: 1-8.

Journal article
Published: 02 June 2018 in Jurnal Perspektif Pembiayaan dan Pembangunan Daerah
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This paper aims to provide comparative information on mergers & acquisition activities in the banking sector of Pakistan. This study used accounting ratios to analyze the financial performance of banks in Pakistan after merger and acquisitions. The study utilized secondary data which were taken from Thomson Financial Services Worldwide M&A database, financial statements of bank’s corporate website and Pakistan stock exchange. In this study, financials for eleven years (2005-2016) were analyzed by using ratios. In spite of certain limitations, accounting ratios are still reflected as an easy and reliable analytical tool. Ratio analysis, being a time-tested method, is most frequently employed in all financial decision-making processes. The results show that the financial performance of banking sector of Pakistan in the capacities of profitability, and leverage, has been quite satisfactory before the merger deal. It means that merger deal fails to improve the financial performance of the bank, and banks merge with other small or equal size banks only to capture market share, to open Islamic window, for cost-cutting, to create synergy, to gain efficient resources and to unlock hidden values

ACS Style

Farhan Ahmed; Aneeta Manwani; Shafique Ahmed. Merger & acquisition strategy for growth, improved performance and survival in the financial sector. Jurnal Perspektif Pembiayaan dan Pembangunan Daerah 2018, 5, 196 -214.

AMA Style

Farhan Ahmed, Aneeta Manwani, Shafique Ahmed. Merger & acquisition strategy for growth, improved performance and survival in the financial sector. Jurnal Perspektif Pembiayaan dan Pembangunan Daerah. 2018; 5 (4):196-214.

Chicago/Turabian Style

Farhan Ahmed; Aneeta Manwani; Shafique Ahmed. 2018. "Merger & acquisition strategy for growth, improved performance and survival in the financial sector." Jurnal Perspektif Pembiayaan dan Pembangunan Daerah 5, no. 4: 196-214.

Journal article
Published: 29 March 2018 in Esensi: Jurnal Bisnis dan Manajemen
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This study aims to examine the impact of aggressive working capital factors/policies on firms’ performance to improve the financial health. Random and Fixed Effect models estimated by taking annual data of two major sectors: automobile and food sectors from 2006 to 2016. According to the findings, aggressive investment factor/policy (AIF) has a negative impact on gross operating income (GOI) in both sectors while aggressive financing factor/policy (AFF) has an adverse effect on GOI in the food sector and positive impact on GOI in the automobile sector. The results of this study should be of great importance to investors, creditors, and financial analysts, especially after the global financial crisis and the collapses of giant organizations worldwide.DOI: 10.15408/ess.v8i1.7075

ACS Style

Suman Talreja; Farhan Ahmed; Raza Ali. Nexus Between Working Capital Management and Sectoral Performance. Esensi: Jurnal Bisnis dan Manajemen 2018, 8, 1 .

AMA Style

Suman Talreja, Farhan Ahmed, Raza Ali. Nexus Between Working Capital Management and Sectoral Performance. Esensi: Jurnal Bisnis dan Manajemen. 2018; 8 (1):1.

Chicago/Turabian Style

Suman Talreja; Farhan Ahmed; Raza Ali. 2018. "Nexus Between Working Capital Management and Sectoral Performance." Esensi: Jurnal Bisnis dan Manajemen 8, no. 1: 1.

Journal article
Published: 11 February 2018 in ETIKONOMI
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Capital generation to fund everyday operations and long-term expansions is a constant concerning element in the corporate world. This study aims to investigate the optimal level of capital structure that firms can adopt to improve their financial performance given the industry dynamics and economic circumstances of the country. Using Hausman’s specification test, annual data for the period 2005 – 2014 of Karachi Stock Exchange (KSE) 100 index listed securities has been collected to analyze the impact of financial leverage on the firms’ performance. Return on assets, return on Equity, and TOBIN’s Q are the proxies of financial performance analyzed against financial leverage for the KSE 100 index listed firms. The finding of the paper indicates that capital structure, leverage, interest cover and sales growth as most significant variables impacting firms’ profitability. DOI: 10.15408/etk.v17i1.6102

ACS Style

Farhan Ahmed; Iqra Awais; Muhammad Kashif. Financial Leverage and Firms’ Performance: Empirical Investigation of KSE-100 Index. ETIKONOMI 2018, 17, 45 -56.

AMA Style

Farhan Ahmed, Iqra Awais, Muhammad Kashif. Financial Leverage and Firms’ Performance: Empirical Investigation of KSE-100 Index. ETIKONOMI. 2018; 17 (1):45-56.

Chicago/Turabian Style

Farhan Ahmed; Iqra Awais; Muhammad Kashif. 2018. "Financial Leverage and Firms’ Performance: Empirical Investigation of KSE-100 Index." ETIKONOMI 17, no. 1: 45-56.

Journal article
Published: 12 January 2018 in Signifikan: Jurnal Ilmu Ekonomi
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This paper aims to provide contemporary and comparative information on mergers and acquisition activities. The findings have shown that Vietnam is very active in mergers and acquisitions activities, for instance in Vietnam 2946 transactions were announced, and 2114 completed in the last decade. Furthermore, Vietnam has a distinctive element of merging local firms; Out of top 20 deals, in 18 transactions target firms and acquirer both were from Vietnam. On the other hand, Sri Lanka has the highest percentage of completed M&A transactions in the last decade compared to Pakistan and Vietnam. In case of Pakistan, the findings suggest that Pakistan has had the highest number of value-based Mergers and Acquisitions deals in comparison to Sri Lanka and Vietnam. Interestingly, even though the number of transactions is higher compared to Sri Lanka and Vietnam; however, mergers and acquisition have had no significant impact on the profitability of Pakistan companies.DOI: 10.15408/sjie.v7i1.6074

ACS Style

Farhan Ahmed; Afzal Ahmed; Sahabia Kanwal. Mergers and Acquisitions in Selected Frontier Markets of Asia. Signifikan: Jurnal Ilmu Ekonomi 2018, 7, 123 -136.

AMA Style

Farhan Ahmed, Afzal Ahmed, Sahabia Kanwal. Mergers and Acquisitions in Selected Frontier Markets of Asia. Signifikan: Jurnal Ilmu Ekonomi. 2018; 7 (1):123-136.

Chicago/Turabian Style

Farhan Ahmed; Afzal Ahmed; Sahabia Kanwal. 2018. "Mergers and Acquisitions in Selected Frontier Markets of Asia." Signifikan: Jurnal Ilmu Ekonomi 7, no. 1: 123-136.

Journal article
Published: 01 January 2018 in Asian Economic and Financial Review
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ACS Style

Muhammad Kashif; Sanyah Saad; Imran Umer Chhapra; Farhan Ahmed. An Empirical Evidence of Over Reaction Hypothesis on Karachi Stock Exchange (KSE). Asian Economic and Financial Review 2018, 8, 449 -465.

AMA Style

Muhammad Kashif, Sanyah Saad, Imran Umer Chhapra, Farhan Ahmed. An Empirical Evidence of Over Reaction Hypothesis on Karachi Stock Exchange (KSE). Asian Economic and Financial Review. 2018; 8 (4):449-465.

Chicago/Turabian Style

Muhammad Kashif; Sanyah Saad; Imran Umer Chhapra; Farhan Ahmed. 2018. "An Empirical Evidence of Over Reaction Hypothesis on Karachi Stock Exchange (KSE)." Asian Economic and Financial Review 8, no. 4: 449-465.

Journal article
Published: 30 June 2016 in Journal of Independent Studies and Research-Management, Social Sciences and Economics
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ACS Style

Farhan Ahmed. Modeling Volatility for Conventional and Islamic Stock Market Indices. Journal of Independent Studies and Research-Management, Social Sciences and Economics 2016, 14, 1 -12.

AMA Style

Farhan Ahmed. Modeling Volatility for Conventional and Islamic Stock Market Indices. Journal of Independent Studies and Research-Management, Social Sciences and Economics. 2016; 14 (1):1-12.

Chicago/Turabian Style

Farhan Ahmed. 2016. "Modeling Volatility for Conventional and Islamic Stock Market Indices." Journal of Independent Studies and Research-Management, Social Sciences and Economics 14, no. 1: 1-12.