This page has only limited features, please log in for full access.
Dr. Khan holds a PhD in Finance from Huazhong University of Science and Technology (HUST), Wuhan China. He is Assistant Prof./DSFA at the University of Kotli, Pakistan, and is a Guest Editor of Sustainability. He has published with JOC, PLOS ONE, Borsa Istanbul Rev., Mathematics, Amfiteatru Economic, Sustainability, RIBAF, Energies, EJIM, EMFT, MULFIN, Resources Policy, and Applied Economics Letters, among others. He is a referee of several WOS journals.
Developing countries, including Pakistan, need a considerable effort to withstand economic growth; however, these countries have to cope with greenhouse gases emission and other environmental concerns. Financial advancement gives rise to modern, sometimes even innovative and energy-efficient technologies and, thus, contributes to a decline in energy usage among market entities: organizations and households. The current study explores the nonlinear asymmetric relationship between economic growth (Y) and the selected exogenous variables in Pakistan by incorporating time series data spanning from 1971 to 2016. Economic growth was considered as a target variable, while energy consumption (EC), electric power consumption (EPC), financial development (FD), and energy imports (EM) were considered independent variables. To investigate cointegration among the given variables, a nonlinear ARDL bound testing approach was employed. BDS independence test was used to check the nonlinearity, and a structural break unit root test was used for testing data stationarity. The findings confirm the presence of co-integration in the selected variables. A symmetric unidirectional significant causality exists running from EPC to Y, while a bidirectional symmetric causality was found between FD and Y. In contrast, any negative shocks in EPC, FD, and EM were found to have a positive asymmetric effect on Y. Meanwhile, a neutral effect was found between EC and Y. The outcomes of this study can provide guidelines for future researchers and policymakers.
Imran Khan; Faheem Ur Rehman; Paula Pypłacz; Muhammad Asif Khan; Agnieszka Wiśniewska; Katarzyna Liczmańska-Kopcewicz. A Dynamic Linkage between Financial Development, Energy Consumption and Economic Growth: Evidence from an Asymmetric and Nonlinear ARDL Model. Energies 2021, 14, 5006 .
AMA StyleImran Khan, Faheem Ur Rehman, Paula Pypłacz, Muhammad Asif Khan, Agnieszka Wiśniewska, Katarzyna Liczmańska-Kopcewicz. A Dynamic Linkage between Financial Development, Energy Consumption and Economic Growth: Evidence from an Asymmetric and Nonlinear ARDL Model. Energies. 2021; 14 (16):5006.
Chicago/Turabian StyleImran Khan; Faheem Ur Rehman; Paula Pypłacz; Muhammad Asif Khan; Agnieszka Wiśniewska; Katarzyna Liczmańska-Kopcewicz. 2021. "A Dynamic Linkage between Financial Development, Energy Consumption and Economic Growth: Evidence from an Asymmetric and Nonlinear ARDL Model." Energies 14, no. 16: 5006.
Cash holding is important for Chinese manufacturing firms coping with the increasing costs of financing and tough economic conditions. This study examines the impact of cash holding on the firm value of Chinese manufacturing businesses. We found evidence that a non-linear relationship exists between cash holding and firm value in these companies. The study reveals that a higher level of cash holding in financially constrained firms negatively affects the firm value, while unconstrained firms with a less cash holding level have a better firm value. Finally, this research is enriched by implementing the novel measure of managerial optimism. Revealed is the interactive role of cash holding and optimism and how they affect firm value. The study concludes that managerial optimism influences a firm’s cash holding decisions, and this is more costly for unconstrained firms.
Ashfaq Habib; M. Bhatti; Muhammad Khan; Zafar Azam. Cash Holding and Firm Value in the Presence of Managerial Optimism. Journal of Risk and Financial Management 2021, 14, 356 .
AMA StyleAshfaq Habib, M. Bhatti, Muhammad Khan, Zafar Azam. Cash Holding and Firm Value in the Presence of Managerial Optimism. Journal of Risk and Financial Management. 2021; 14 (8):356.
Chicago/Turabian StyleAshfaq Habib; M. Bhatti; Muhammad Khan; Zafar Azam. 2021. "Cash Holding and Firm Value in the Presence of Managerial Optimism." Journal of Risk and Financial Management 14, no. 8: 356.
The purpose of this empirical study is to investigate the effects of Emotional Intelligence (EI) on learning outcomes (social, cognitive, self-growth outcomes and satisfaction with the university experience) of students in Chinese research universities. This study further examines the mediating role of student trust in teachers (emotional and cognitive learning) and learning orientation (commitment to learning) in the relationship between EI and learning outcomes. This intent of this study was to examine the direct effects of learning outcomes on students’ academic efficacy (cognitive skills and standardised tests). This study used a sample frame of 454 students from research universities in China. The relationships were tested through the partial least squares’ structural equation modelling method. The results reveal that EI has a significant impact on learning outcomes. Furthermore, an indirect relation between EI and learning outcomes is established through student trust in teachers and in the learning orientation. The direct relation between learning outcomes and student academic efficacy is also established. There is a lack of studies that investigate the relationship of EI, student trust in teachers, learning orientation, learning outcomes and student academic efficacy. This is one of the initial research studies that not only empirically examine the interface of EI and learning outcomes of students of Higher Education Institutions (HEIs) but offers insights into the existing literature by concurrent investigation of the mediating role of student trust in teachers and in the learning orientation in fundamental association, while explaining the association between learning outcomes and students’ better academic efficacy.
Zahid Shafait; Muhammad Asif Khan; Umar Farooq Sahibzada; Zdzisław Dacko-Pikiewicz; József Popp. An assessment of students’ emotional intelligence, learning outcomes, and academic efficacy: A correlational study in higher education. PLOS ONE 2021, 16, e0255428 .
AMA StyleZahid Shafait, Muhammad Asif Khan, Umar Farooq Sahibzada, Zdzisław Dacko-Pikiewicz, József Popp. An assessment of students’ emotional intelligence, learning outcomes, and academic efficacy: A correlational study in higher education. PLOS ONE. 2021; 16 (8):e0255428.
Chicago/Turabian StyleZahid Shafait; Muhammad Asif Khan; Umar Farooq Sahibzada; Zdzisław Dacko-Pikiewicz; József Popp. 2021. "An assessment of students’ emotional intelligence, learning outcomes, and academic efficacy: A correlational study in higher education." PLOS ONE 16, no. 8: e0255428.
The sustainable environment has been a desired situation around the world for the last few decades. Environmental contaminations can be a consequence of various economic activities. Different socio-economic factors influence the environment positively or negatively. Many previous studies have resulted in the efficient allocation of inputs as an environment-friendly component. This paper investigates the effects of energy efficiency on ecological footprint in the ASEAN region using balanced panel data from 2001 to 2019. First, this paper technically derives the energy efficiency, using the stochastic frontier analysis (SFA) of the translog production type of single output and multiple inputs. Findings of the SFA show that the Philippines and Singapore have the highest energy efficiency (94%) and Laos has the lowest energy efficiency (85%) in the ASEAN region. The estimated average efficiency score of the ASEAN region was around 90%, ranging from 85% to 96%, indicating that there is still 10% room for improvement in energy efficiency. Second, this study employed the panel autoregressive distributed lag (ARDL) model to explore the short run and long run impact of technically derived energy efficiency on ecological footprint in the ASEAN region. Results of the panel ARDL model show that energy efficiency is a reducing factor of ecological footprint in the long run. Moreover, energy efficiency plays a significant role to control the environmental contaminations. In addition, results of this study also explored that urbanization is an increasing factor of ecological footprint, and investment in agriculture is also beneficial for the environment. Moreover, to obtain the directional nature of the associations between the ecological footprint and its independent variables, this paper has employed the paired-panel Granger causality test. The results of the paired wise panel Granger causality test also confirm that the energy efficiency, urbanization, and investment in agriculture cause ecological footprint. Finally, this study recommends that efficient utilization of energy resources as well as investment in agriculture are necessary for sustainable environment.
Dilawar Khan; Muhammad Nouman; József Popp; Muhammad Khan; Faheem Ur Rehman; Judit Oláh. Link between Technically Derived Energy Efficiency and Ecological Footprint: Empirical Evidence from the ASEAN Region. Energies 2021, 14, 3923 .
AMA StyleDilawar Khan, Muhammad Nouman, József Popp, Muhammad Khan, Faheem Ur Rehman, Judit Oláh. Link between Technically Derived Energy Efficiency and Ecological Footprint: Empirical Evidence from the ASEAN Region. Energies. 2021; 14 (13):3923.
Chicago/Turabian StyleDilawar Khan; Muhammad Nouman; József Popp; Muhammad Khan; Faheem Ur Rehman; Judit Oláh. 2021. "Link between Technically Derived Energy Efficiency and Ecological Footprint: Empirical Evidence from the ASEAN Region." Energies 14, no. 13: 3923.
This paper aims to empirically analyze the herd behavior in the VC market in the context of China, including the existence, causes and consequences of herding among venture capitalists. For our empirical analysis, we first construct a herding measure and confirm the existence of herd behavior in the Chinese VC market. Then, we perform OLS/logit regression to examine the causes and consequences of herding among venture capitalists. Our results suggest that herd behavior in the venture capital market are driven by positive signals of essential information and a higher degree of information uncertainty. However, we find no evidence of the influence of feedback trading signals on herding among venture capitalists. Further analysis suggests that a better external information environment would help weaken the herding among venture capitalists, while their reputation concerns might amplify the herding effect. Finally, we examine the economic consequence of the herding and find that the herd behavior of venture capitalists would have an adverse effect on their exit performance. In addition to the enrichment and development of herding theory, our study also provides an essential theoretical frame and policy implications for the steady growth of the venture capital market in emerging economies.
Ruijun Zhang; Xiaotong Yang; Nian Li; Muhammad Khan. Herd Behavior in Venture Capital Market: Evidence from China. Mathematics 2021, 9, 1509 .
AMA StyleRuijun Zhang, Xiaotong Yang, Nian Li, Muhammad Khan. Herd Behavior in Venture Capital Market: Evidence from China. Mathematics. 2021; 9 (13):1509.
Chicago/Turabian StyleRuijun Zhang; Xiaotong Yang; Nian Li; Muhammad Khan. 2021. "Herd Behavior in Venture Capital Market: Evidence from China." Mathematics 9, no. 13: 1509.
Cash holding is important for Chinese manufacturing firms coping with the increasing cost of financing and stiff market conditions. This study examines the impact of cash holding on the firm value of Chinese manufacturing firms. We find evidence that a non-linear relationship exists between cash holding and firm value in manufacturing firms of China. The study reveals that financially constrained firms having a higher level of cash holding negatively affects the firm value, while the unconstrained firms having a lower level of cash holding positively influences the firm value. Finally, this research is enriched by adopting the novel measure of managerial op-timism and reveals the interactive role of cash holding and optimism on firm value. The study concludes that managerial optimism influences the firm’s cash holding decisions and this is more costly for unconstrained firms.
Ashfaq Habib; Muhammad Ishaq Bhatti; Muhammad Asif Khan; Zafar Azam. Cash Holding and Firm Value in the Presence of Managerial Optimism. 2021, 1 .
AMA StyleAshfaq Habib, Muhammad Ishaq Bhatti, Muhammad Asif Khan, Zafar Azam. Cash Holding and Firm Value in the Presence of Managerial Optimism. . 2021; ():1.
Chicago/Turabian StyleAshfaq Habib; Muhammad Ishaq Bhatti; Muhammad Asif Khan; Zafar Azam. 2021. "Cash Holding and Firm Value in the Presence of Managerial Optimism." , no. : 1.
In the construction of ecological civilization, green innovation has become an important driving force for the sustainable development of state-owned enterprises (SOEs). This paper uses panel data of state-owned listed enterprises from 2008 to 2019 to explore mixed-ownership reform’s influence on the green transformation of SOEs and its specific mechanisms. The results show that the diversity of mixed shareholders, the depth of mixed equity, and the restriction of mixed equity significantly promote the SOEs’ green innovation. Moreover, there are distinctions in the impact of the shareholding ratio of heterogeneous shareholders on green innovation. Only the increase in the shareholding ratio of foreign shareholders has a positive correlation with green innovation. The mechanism tests indicate that the mixed-ownership reform plays a governance role in the green transformation of SOEs by optimizing the reasonable allocation of environmental protection subsidies and propelling environmental social responsibility’s active performance. Our study further subdivides the significant promotion effect of mixed-ownership reform on green innovation, finding that it only exists in the SOEs in heavily polluting industries and regions with a high degree of marketization. Finally, we find that the ownership structure adjustment caused by the mixed-ownership reform has improved SOEs’ environmental management system and facilitated its sustainable development capabilities.
Runsen Yuan; Chunling Li; Nian Li; Muhammad Khan; Xiaoran Sun; Nosherwan Khaliq. Can Mixed-Ownership Reform Drive the Green Transformation of SOEs? Energies 2021, 14, 2964 .
AMA StyleRunsen Yuan, Chunling Li, Nian Li, Muhammad Khan, Xiaoran Sun, Nosherwan Khaliq. Can Mixed-Ownership Reform Drive the Green Transformation of SOEs? Energies. 2021; 14 (10):2964.
Chicago/Turabian StyleRunsen Yuan; Chunling Li; Nian Li; Muhammad Khan; Xiaoran Sun; Nosherwan Khaliq. 2021. "Can Mixed-Ownership Reform Drive the Green Transformation of SOEs?" Energies 14, no. 10: 2964.
Whether better infrastructure influences Chinese export sophistication (ES) and diversification (ED) is an important question, which surprisingly remains unaddressed. The current study contributes to the ES and ED literature by capturing the symmetric and asymmetric effect of infrastructure on ES and ED. We employ a robust dynamically simulated autoregressive distributed lag (DYS-ARDL) dynamic method, which is an extended version of NARDL and ARDL. The major aim of this new DYS-ARDL dynamic approach was to abolish the issue in orthodox ARDL model approach while examining the long-run and short-run. The new dynamic DYS-ARDL model is accomplished in estimating, stimulating, and robotically plotting predictions of counterfactual alterations in one explanatory variable and its impact on the dependent variable while holding the remaining regressors constant. Furthermore, this new method of DYS-ARDL model can estimate, stimulate, and plot to forecast graphs of positive and negative variations in the variables robotically as well as their short and long-run associations. Interestingly, the results of this study witness the presence of long-run relationship between infrastructure and ES and ED in China. The present study shows that better infrastructure will be more beneficial for Chinese ED and ES.
Faheem Ur Rehman; Ejaz Ahmad; Muhammad Khan; József Popp; Judit Oláh. Does Trade Related Sectoral Infrastructure Make Chinese Exports More Sophisticated and Diversified? Sustainability 2021, 13, 5408 .
AMA StyleFaheem Ur Rehman, Ejaz Ahmad, Muhammad Khan, József Popp, Judit Oláh. Does Trade Related Sectoral Infrastructure Make Chinese Exports More Sophisticated and Diversified? Sustainability. 2021; 13 (10):5408.
Chicago/Turabian StyleFaheem Ur Rehman; Ejaz Ahmad; Muhammad Khan; József Popp; Judit Oláh. 2021. "Does Trade Related Sectoral Infrastructure Make Chinese Exports More Sophisticated and Diversified?" Sustainability 13, no. 10: 5408.
Leveraging from the online search index of Chinese listed companies from 2012 to 2018, we empirically test the relationship between investors’ attention and corporate innovation performance for the first time. The main results are as follows: (1) investors’ attention significantly improves listed companies’ innovation performance, which is reflected in the increase of patent applications. This indicates that investors’ active information collection behaviour affects China’s economic development by promoting enterprise innovation. (2) This paper’s conclusion remains intact after a battery of robustness checks, such as alternative measures of key variables and empirical specifications and a series of endogenous treatment. (3) The mechanisms tests show that: “information asymmetry”, “financing constraint”, and “agency cost” are supported. In other words, with the increase of investors’ attention, not only the information asymmetry is reduced, which greatly improved the information environment of the capital market, but also the external financing constraints of enterprises are alleviated. The opportunistic management behaviour is effectively suppressed, thus motivating the corporate innovation incentives and improving the corporate innovation of input, output and quality. (4) Further research shows that investor attention to listed companies also improves the efficiency of capital allocation. This paper’s conclusion shows that investors’ initiative information acquisition behaviour can improve enterprises innovation performance, thus providing a driving force for China’s economic development.
Nian Li; Chunling Li; Runsen Yuan; Muhammad Khan; Xiaoran Sun; Nosherwan Khaliq. Investor Attention and Corporate Innovation Performance: Evidence from Web Search Volume Index of Chinese Listed Companies. Mathematics 2021, 9, 930 .
AMA StyleNian Li, Chunling Li, Runsen Yuan, Muhammad Khan, Xiaoran Sun, Nosherwan Khaliq. Investor Attention and Corporate Innovation Performance: Evidence from Web Search Volume Index of Chinese Listed Companies. Mathematics. 2021; 9 (9):930.
Chicago/Turabian StyleNian Li; Chunling Li; Runsen Yuan; Muhammad Khan; Xiaoran Sun; Nosherwan Khaliq. 2021. "Investor Attention and Corporate Innovation Performance: Evidence from Web Search Volume Index of Chinese Listed Companies." Mathematics 9, no. 9: 930.
The available research literature on stock performance has primarily stressed the importance of asset price theories, macroeconomic and microeconomic, and institutional differences. However, there is still an open question: Are there any other factors those influence stock performance? This research aims to answer this question by providing new insights into industry factors along with country-level and firm-specific factors in conjunction with the stock performance of the non-financial sector firms listed at the Pakistan Stock Exchange. The study provides new insights into the prevailing research literature by considering an emerging economy, Pakistan. We find that non-financial sector firms are heterogeneous, suggesting applying a fixed effect approach for reliable estimation. To investigate the issue, data from 80 companies spanning 17 years (2004–2020) were analyzed with a fixed-effect model. Our study results revealed that firm tangibility, munificence, gross domestic product, inflation and money supply have negative, while size, growth, dynamism, Herfindahl–Hirschman index, exchange rate and oil prices have a positive relationship with financial performance. The results are robust under alternative estimation approaches and offer useful policy implications.
Mirza Naseer; Muhammad Khan; József Popp; Judit Oláh. Firm, Industry and Macroeconomics Dynamics of Stock Returns: A Case of Pakistan Non-Financial Sector. Journal of Risk and Financial Management 2021, 14, 190 .
AMA StyleMirza Naseer, Muhammad Khan, József Popp, Judit Oláh. Firm, Industry and Macroeconomics Dynamics of Stock Returns: A Case of Pakistan Non-Financial Sector. Journal of Risk and Financial Management. 2021; 14 (5):190.
Chicago/Turabian StyleMirza Naseer; Muhammad Khan; József Popp; Judit Oláh. 2021. "Firm, Industry and Macroeconomics Dynamics of Stock Returns: A Case of Pakistan Non-Financial Sector." Journal of Risk and Financial Management 14, no. 5: 190.
Foreign direct investment (FDI) is seen as a prerequisite for gaining and maintaining competitiveness. Simultaneously, the relationship between FDI and financial development (FD) has important implications for the researched economy and its competitiveness. This domain has not been sufficiently investigated, with diverse and contradictory findings evident in the literature. Therefore, this study investigates the effect of FDI on FD for the selected 102 Belt and Road Initiative countries on four continents: Asia, Europe, Africa, and Latin America. Based on data from 1990 to 2017, a set of quantitative techniques, including feasible generalized least squares, and augmented mean group techniques, were used in this study. Our findings indicate that FDI, trade openness, government consumption, and inflation have a statistically significant relationship with FD. FDI, trade openness, and government consumption increased FD in Asia, Europe, and Latin America but decreased in Africa. Inflation shows a negative influence on FD in all continents. Furthermore, the Dumitrescu–Harlin panel causality test confirms a two-way causality relationship among FDI, trade openness, and FD in Asia and Europe. In contrast, a unidirectional relationship exists between FDI and FD in Latin America. The income-wise results reveal that low- and middle-income countries attract more FDI than high-income countries due to high factor costs. These empirical results provide new insights for policymakers, presenting several policy implications for FD competitiveness in the reference regions.
Abdul Majeed; Ping Jiang; Mahmood Ahmad; Muhammad Asif Khan; Judit Olah. The Impact of Foreign Direct Investment on Financial Development: New Evidence from Panel Cointegration and Causality Analysis. Journal of Competitiveness 2021, 13, 95 -112.
AMA StyleAbdul Majeed, Ping Jiang, Mahmood Ahmad, Muhammad Asif Khan, Judit Olah. The Impact of Foreign Direct Investment on Financial Development: New Evidence from Panel Cointegration and Causality Analysis. Journal of Competitiveness. 2021; 13 (1):95-112.
Chicago/Turabian StyleAbdul Majeed; Ping Jiang; Mahmood Ahmad; Muhammad Asif Khan; Judit Olah. 2021. "The Impact of Foreign Direct Investment on Financial Development: New Evidence from Panel Cointegration and Causality Analysis." Journal of Competitiveness 13, no. 1: 95-112.
China’s rapid expansion of digital financial inclusion in the last few years has dramatically augmented the accessibility and affordability of financial services, predominantly serving formerly financially excluded people, and positively contributes to higher economic growth. Despite the importance of digital financial inclusion in promoting economic growth, empirical evidence is relatively thin. Moreover, none of the studies has considered human capital in the nexus. Therefore, this study examines the impact of digital financial inclusion and human capital on China’s provincial economic growth. Unlike previous studies, this study uses the new proxy of digital financial inclusion based on breadth of coverage, depth of usage, and digitalization level. The empirical findings show that digital financial inclusion and human capital significantly affect China’s provincial economic growth. Based on this study’s findings, we recommend investment in human capital development and, at the same time, upgrading digital financial inclusion to attain higher economic growth.
Mahmood Ahmad; Abdul Majeed; Muhammad Asif Khan; Muhammad Sohaib; Khurram Shehzad. Digital financial inclusion and economic growth: provincial data analysis of China. China Economic Journal 2021, 1 -20.
AMA StyleMahmood Ahmad, Abdul Majeed, Muhammad Asif Khan, Muhammad Sohaib, Khurram Shehzad. Digital financial inclusion and economic growth: provincial data analysis of China. China Economic Journal. 2021; ():1-20.
Chicago/Turabian StyleMahmood Ahmad; Abdul Majeed; Muhammad Asif Khan; Muhammad Sohaib; Khurram Shehzad. 2021. "Digital financial inclusion and economic growth: provincial data analysis of China." China Economic Journal , no. : 1-20.
Recently, sustainable economic growth has taken the front line of the global development agenda. The common dependency on fossil fuel energy, greenhouse gas (GHG) emissions and the continuous rising demands for energy have posed challenges that put the world in a climate change trap. This work empirically analyzes the effect of innovation, oil price, oil price volatility and economic growth on GHG emissions over the period of 1991–2015. The study compares the emission level between European Union countries (EU) (26), oil-producing countries (22), China and the United States of America (USA) using the Driscoll–Kraay model. The main empirical finding points to a positive effect of innovation on GHG emission reduction initiatives in oil-importing economies. Particularly, EU countries significantly minimized emissions due to innovation, followed by China and the USA. Contrarily, the effect of innovation increases GHG emission in oil-exporting economies. The results also indicate broader significant effects of oil price and oil price volatility on GHG emission. Interestingly, the effect of oil price on GHG emission is asymmetrical between oil-exporting and -importing economies. Oil price increases in oil-importing countries decrease GHG emission; contrarily, its effect increases emissions in oil-exporting countries. Thus, oil-exporting countries lack motivation to decrease emission levels due to oil price escalation. Unlike the oil price, oil price volatility comparably decreases GHG emissions in oil-exporting and -importing economies. Thus, one might be tempted to take oil price volatility and the future uncertainty of oil price as a virtuous instance rather than oil price increment. Thus, policymakers need to pay attention to market forces and policy measures to monitor GHG emissions due to economic activities. The results are also robust under the alternative econometrics estimation model of generalized method of moments (GMM)-Differenced.
Elyas Mohamued; Masood Ahmed; Paula Pypłacz; Katarzyna Liczmańska-Kopcewicz; Muhammad Khan. Global Oil Price and Innovation for Sustainability: The Impact of R&D Spending, Oil Price and Oil Price Volatility on GHG Emissions. Energies 2021, 14, 1757 .
AMA StyleElyas Mohamued, Masood Ahmed, Paula Pypłacz, Katarzyna Liczmańska-Kopcewicz, Muhammad Khan. Global Oil Price and Innovation for Sustainability: The Impact of R&D Spending, Oil Price and Oil Price Volatility on GHG Emissions. Energies. 2021; 14 (6):1757.
Chicago/Turabian StyleElyas Mohamued; Masood Ahmed; Paula Pypłacz; Katarzyna Liczmańska-Kopcewicz; Muhammad Khan. 2021. "Global Oil Price and Innovation for Sustainability: The Impact of R&D Spending, Oil Price and Oil Price Volatility on GHG Emissions." Energies 14, no. 6: 1757.
Guided by the conviction that “Clear waters and green mountains are as good as mountains of gold and silver”, China highly values sustainable economic and social development through innovation and Internet technology. Regression analysis is performed to examine the impact of corporate information disclosure environment proxied by the Internet penetration rate on innovation. Leveraging from the city-level Internet penetration rates data in China from 2003 to 2017, this study gets the following findings: (1) Firms headquartered in cities with high Internet penetration rates tend to be more innovative, i.e. they invest more in research and development. (2) This result is supported by several robustness checks, such as alternative measures of key variables, alternative empirical specifications, and tests to mitigate identification concerns. (3) "financing constraint" and "tolerance of innovation failure" are two channels that influence firms’ innovative endeavors. (4) Additional tests show that Internet penetration rates facilitate a firm’s output efficiency of innovation input, total factor productivity, and human capital environment for innovation. The above conclusions not only enrich the relevant literature on the influencing factors of corporate innovation from the perspective of the firm information disclosure environment but also provide an important reference for further understanding the positive role of macro technology development on social and economic development.
Yukun Wang; Chunling Li; Muhammad Asif Khan; Nian Li; Runsen Yuan. Firm information disclosure environment and R&D investment: Evidence from Internet penetration. PLOS ONE 2021, 16, e0247549 .
AMA StyleYukun Wang, Chunling Li, Muhammad Asif Khan, Nian Li, Runsen Yuan. Firm information disclosure environment and R&D investment: Evidence from Internet penetration. PLOS ONE. 2021; 16 (3):e0247549.
Chicago/Turabian StyleYukun Wang; Chunling Li; Muhammad Asif Khan; Nian Li; Runsen Yuan. 2021. "Firm information disclosure environment and R&D investment: Evidence from Internet penetration." PLOS ONE 16, no. 3: e0247549.
The study empirically examines the role of foreign direct investment (FDI) to trigger financial deepening (FD) in the Southeast Asian region. More specifically, it investigates the direct and indirect roles of FDI in enhancing the level of FD. The findings of the robust FGLS and PCSE estimators suggest that FDI acts as an essential stimulator to FD in the region – directly as well as indirectly through money supply. The results are robust under alternative specifications and institutional measures. The study recommends policymakers to carefully consider the channels of money supply that substantially influence FDI to stimulate the level of FD. In addition, it is viable to understand the dynamic role of the institutional framework and other macroeconomic variables in this nexus.
Mollah Aminul Islam; Haiyun Liu; Muhammad Asif Khan; Tariqul Islam; Reza Sultanuzzaman. Does foreign direct investment deepen the financial system in Southeast Asian economies? Journal of Multinational Financial Management 2021, 100682 .
AMA StyleMollah Aminul Islam, Haiyun Liu, Muhammad Asif Khan, Tariqul Islam, Reza Sultanuzzaman. Does foreign direct investment deepen the financial system in Southeast Asian economies? Journal of Multinational Financial Management. 2021; ():100682.
Chicago/Turabian StyleMollah Aminul Islam; Haiyun Liu; Muhammad Asif Khan; Tariqul Islam; Reza Sultanuzzaman. 2021. "Does foreign direct investment deepen the financial system in Southeast Asian economies?" Journal of Multinational Financial Management , no. : 100682.
This study investigates the impact of country, corporate-level governance; and firm internationalization on the accrual quality of 120 firms listed in Pakistan, Japan, Hong Kong and India. The findings of the robust panel-corrected standard error estimator show that firm internationalization positively influences accrual quality. At the same time, country-level governance affects the business environment, like taxes, laws and regulatory settings, business-friendly and unfriendly environment. Corporate governance is insignificant to accrual quality. We also found that the capable board of directors and frequent meetings of board members signal the multinationals companies to go for internationalization.
Waleed Hussain; Muhammad Asif Khan; Abid Hussain; Muhammad Arfaq Waseem; Masood Ahmed. How Governance and Firm Internationalization Affect Accrual Quality. Studies of Applied Economics 2021, 39, 1 .
AMA StyleWaleed Hussain, Muhammad Asif Khan, Abid Hussain, Muhammad Arfaq Waseem, Masood Ahmed. How Governance and Firm Internationalization Affect Accrual Quality. Studies of Applied Economics. 2021; 39 (3):1.
Chicago/Turabian StyleWaleed Hussain; Muhammad Asif Khan; Abid Hussain; Muhammad Arfaq Waseem; Masood Ahmed. 2021. "How Governance and Firm Internationalization Affect Accrual Quality." Studies of Applied Economics 39, no. 3: 1.
The increase in domestic transportation in developing countries may adversely affect the energy efficiency of road transportation due to effective productivity and carbon dioxide emissions (CO2). When evaluating quantitatively the countries on the efficiency frontier, poor efficiency can still be seen sometimes due to the slack available in undesirable output measures. This paper uses desirable and undesirable output variables, such as passenger-kilometers (PKM), tones-kilometers (TKM), and carbon dioxide (CO2), to compute the weakly efficient decision-making units (DMUs). The data envelopment analysis (DEA) technology is used to assess the efficiencies of the decision-making units (DMUs), which are countries in our case. Then, the trade-off method with efficient binding surfaces is used to attain the optimal efficiencies of the weakly efficient DMUs. The marginal rates aid this trade-off analysis. Resultantly, such marginal trade-offs do not deteriorate the efficiency of the DMUs below the frontier line. We calculate the maximum change (margin) in a specific variable amount when another variable’s amount is changed. Thus, such a computation gives us different margins, with which each output variable can be a traded off to bring a DMU further toward the closest optimal point possible. The marginal trade-off can help the managers and policymakers in effective decision-making, and it is further recommended to address efficiency damages (by the undesired outputs).
Usman Akbar; Muhammad Asif Khan; Marryum Akmal; Éva Zsuzsanna Tóth Naárné; Judit Oláh. Trade-Offs for the Optimal Energy Efficiency of Road Transportation: Domestic Cases in Developing Countries. Energies 2020, 13, 6538 .
AMA StyleUsman Akbar, Muhammad Asif Khan, Marryum Akmal, Éva Zsuzsanna Tóth Naárné, Judit Oláh. Trade-Offs for the Optimal Energy Efficiency of Road Transportation: Domestic Cases in Developing Countries. Energies. 2020; 13 (24):6538.
Chicago/Turabian StyleUsman Akbar; Muhammad Asif Khan; Marryum Akmal; Éva Zsuzsanna Tóth Naárné; Judit Oláh. 2020. "Trade-Offs for the Optimal Energy Efficiency of Road Transportation: Domestic Cases in Developing Countries." Energies 13, no. 24: 6538.
Since the introduction of the measure of economic policy uncertainty, businesses, policymakers, and academic scholars closely monitor its momentum due to expected economic implications. The US is the world’s top-ranked equity market by size, and prior literature on policy uncertainty and stock prices for the US is conflicting. In this study, we reexamine the policy uncertainty and stock price nexus from the US perspective, using a novel dynamically simulated autoregressive distributed lag setting introduced in 2018, which appears superior to traditional models. The empirical findings document a negative response of stock prices to 10% positive/negative shock in policy uncertainty in the short-run, while in the long-run, an increase in policy uncertainty by 10% reduces the stock prices, which increases in response to a decrease with the same magnitude. Moreover, we empirically identified two significant thresholds: (1) policy score of 4.89 (original score 132.39), which negatively explain stock prices with high magnitude, and (2) policy score 4.48 (original score 87.98), which explains stock prices negatively with a relatively low magnitude, and interestingly, policy changes below the second threshold become irrelevant to explain stock prices in the United States. It is worth noting that all indices are not equally exposed to unfavorable policy changes. The overall findings are robust to the alternative measures of policy uncertainty and stock prices and offer useful policy input. The limitations of the study and future line of research are also highlighted. All in all, the policy uncertainty is an indicator that shall remain ever-important due to its nature and implication on the various sectors of the economy (the equity market in particular).
Muhammad Asif Khan; Masood Ahmed; József Popp; Judit Oláh. US Policy Uncertainty and Stock Market Nexus Revisited through Dynamic ARDL Simulation and Threshold Modelling. Mathematics 2020, 8, 2073 .
AMA StyleMuhammad Asif Khan, Masood Ahmed, József Popp, Judit Oláh. US Policy Uncertainty and Stock Market Nexus Revisited through Dynamic ARDL Simulation and Threshold Modelling. Mathematics. 2020; 8 (11):2073.
Chicago/Turabian StyleMuhammad Asif Khan; Masood Ahmed; József Popp; Judit Oláh. 2020. "US Policy Uncertainty and Stock Market Nexus Revisited through Dynamic ARDL Simulation and Threshold Modelling." Mathematics 8, no. 11: 2073.
PAKISTAN SOCIAL SCIENCES REVIEW (PSSR) struggles for a future where human development is based on informed decision making process.
Muhammad Asif Khan. Corruption, Crime, Credit Rating, and Stock Market Development in Pakistan: An Analysis through ARDL Bounds Testing. Pakistan Social Sciences Review 2020, 4, 639 -655.
AMA StyleMuhammad Asif Khan. Corruption, Crime, Credit Rating, and Stock Market Development in Pakistan: An Analysis through ARDL Bounds Testing. Pakistan Social Sciences Review. 2020; 4 (III):639-655.
Chicago/Turabian StyleMuhammad Asif Khan. 2020. "Corruption, Crime, Credit Rating, and Stock Market Development in Pakistan: An Analysis through ARDL Bounds Testing." Pakistan Social Sciences Review 4, no. III: 639-655.
Miklós Pakurár; Muhammad Asif Khan; Attila Benedek; Judit Oláh. The impact of green practices, cooperation and innovation on the performance of supply chains using statistical method of meta-analysis. Journal of International Studies 2020, 13, 111 -128.
AMA StyleMiklós Pakurár, Muhammad Asif Khan, Attila Benedek, Judit Oláh. The impact of green practices, cooperation and innovation on the performance of supply chains using statistical method of meta-analysis. Journal of International Studies. 2020; 13 (3):111-128.
Chicago/Turabian StyleMiklós Pakurár; Muhammad Asif Khan; Attila Benedek; Judit Oláh. 2020. "The impact of green practices, cooperation and innovation on the performance of supply chains using statistical method of meta-analysis." Journal of International Studies 13, no. 3: 111-128.