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Mian Sajid Nazir
HEC Montreal, Université de Montréal, Montreal, Canada

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Earlycite article
Published: 17 June 2021 in Journal of Economic and Administrative Sciences
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Purpose In the last few decades, the frequency and intensity of extreme weather events have increased in most parts of the world including Canada because of global warming. The global warming in Canada is about double the magnitude of global warming; therefore, policymakers are concerned about the potential significant impact of the weather catastrophes on the economy and financial sector. The purpose of this study is to explore the impact of weather catastrophes on the Canadian banking sector. Design/methodology/approach Using a sample of banking firms from Canada over the period 1988–2019, the present study estimates different econometric techniques to investigate the impact of weather catastrophes on the risk and performance of Canadian banks. Findings Analyses of the study do not find a significant impact of the weather catastrophes on the performance of the Canadian banks; however, it has helped banks to lower their risk level and improve stability due to proactive risk management. The findings of this study are not consistent with concerns of the policymakers about climate risk to the Canadian bank sector. More sector-specific research and policy initiatives are recommended to minimize the future financial risk of the increased frequency and intensity of natural disasters. Originality/value The study contributes to support the notion that the climate risk of banks is protected with insurance and reconstruction activities provide more banking opportunities.

ACS Style

Salah U-Din; Mian Sajid Nazir; Aamer Shahzad. Money at risk: climate change and performance of Canadian banking sector. Journal of Economic and Administrative Sciences 2021, ahead-of-p, 1 .

AMA Style

Salah U-Din, Mian Sajid Nazir, Aamer Shahzad. Money at risk: climate change and performance of Canadian banking sector. Journal of Economic and Administrative Sciences. 2021; ahead-of-p (ahead-of-p):1.

Chicago/Turabian Style

Salah U-Din; Mian Sajid Nazir; Aamer Shahzad. 2021. "Money at risk: climate change and performance of Canadian banking sector." Journal of Economic and Administrative Sciences ahead-of-p, no. ahead-of-p: 1.

Earlycite article
Published: 29 April 2021 in International Journal of Emerging Markets
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Purpose In this paper the authors examine evidence on exchange rate predictability through commodity prices for a set of countries categorized as commodity import- and export-dependent developed and emerging countries. Design/methodology/approach The authors perform in-sample and out-of-sample forecasting analysis. The commodity prices are modeled to predict the exchange rate and to analyze whether this commodity price model can perform better than the random walk model (RWM) or not. These two models are compared and evaluated in terms of exchange rate forecasting abilities based on mean squared forecast error and Theil inequality coefficient. Findings The authors find that primary commodity prices better predict exchange rates in almost two-thirds of export-dependent developed countries. In contrast, the RWM shows superior performance in the majority of export-dependent emerging, import-dependent emerging and developed countries. Originality/value Previous studies examined the exchange rate of commodity export-dependent developed countries mainly. This study examines both developed and emerging countries and finds for which one the changes in prices of export commodities (in case of commodity export-dependent country) or prices of major importing commodities (in case of import-dependent countries) can significantly predict the exchange rate.

ACS Style

Saba Haider; Mian Sajid Nazir; Alfredo Jiménez; Muhammad Ali Jibran Qamar. Commodity prices and exchange rates: evidence from commodity-dependent developed and emerging economies. International Journal of Emerging Markets 2021, ahead-of-p, 1 .

AMA Style

Saba Haider, Mian Sajid Nazir, Alfredo Jiménez, Muhammad Ali Jibran Qamar. Commodity prices and exchange rates: evidence from commodity-dependent developed and emerging economies. International Journal of Emerging Markets. 2021; ahead-of-p (ahead-of-p):1.

Chicago/Turabian Style

Saba Haider; Mian Sajid Nazir; Alfredo Jiménez; Muhammad Ali Jibran Qamar. 2021. "Commodity prices and exchange rates: evidence from commodity-dependent developed and emerging economies." International Journal of Emerging Markets ahead-of-p, no. ahead-of-p: 1.

Original research article
Published: 22 October 2020 in Frontiers in Psychology
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The purpose of this study is to investigate how investor’s money attitudes shape their stock market participation (SMP) decisions. This study followed the theory of planned behavior (TPB), and a survey was conducted to collect the responses from active investors. Structural equation modeling (SEM) was used for the analysis of proposed relationships among the constructs, and a confirmatory factor analysis (CFA) was conducted to check the interrelation of the variables and validity of the constructs. This research has concluded that investor’s money attitudes are significant to affect their stock market participation decisions. Further, it was found that risk attitudes partially mediate the relationship between money attitudes and stock market participation. Moreover, financial knowledge and financial self-efficacy positively moderated the relationship between money attitudes and stock market participation. This research is one of the early attempts at studying the money attitudes of investors and introduces financial self-efficacy as a moderating construct between money attitudes and stock market participation. The sample size for this study was 250 respondents which can be increased in future research, and the same relationships can be tested by using a larger sample. Moreover, this study has used money attitudes as predictors of stock market participation. Still, many other variables, like personal value, can also be taken to investigate their influence on stock market participation.

ACS Style

Muhammad Asif Nadeem; Muhammad Ali Jibran Qamar; Mian Sajid Nazir; Israr Ahmad; Anton Timoshin; Khurram Shehzad. How Investors Attitudes Shape Stock Market Participation in the Presence of Financial Self-Efficacy. Frontiers in Psychology 2020, 11, 553351 .

AMA Style

Muhammad Asif Nadeem, Muhammad Ali Jibran Qamar, Mian Sajid Nazir, Israr Ahmad, Anton Timoshin, Khurram Shehzad. How Investors Attitudes Shape Stock Market Participation in the Presence of Financial Self-Efficacy. Frontiers in Psychology. 2020; 11 ():553351.

Chicago/Turabian Style

Muhammad Asif Nadeem; Muhammad Ali Jibran Qamar; Mian Sajid Nazir; Israr Ahmad; Anton Timoshin; Khurram Shehzad. 2020. "How Investors Attitudes Shape Stock Market Participation in the Presence of Financial Self-Efficacy." Frontiers in Psychology 11, no. : 553351.

Research article
Published: 19 October 2020 in International Journal of Finance & Economics
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Foreign direct investment (FDI) is a very important factor for economic growth because of its associated benefits such as advanced technology, employment, and economic development for the developing host countries. The factors of lower corporate tax rate, social peace, consistent energy supply, better infrastructure, skilled labor, political stability and business openness are very important for foreign investors. Therefore, this study investigates the impact of corporate tax reduction, terrorism, energy shortfall, availability of labor, infrastructure and degree of business openness on the FDI in Pakistan. Further, it compares democratic and autocratic regimes to evaluate their impact on attracting FDI in Pakistan. A vector error correction (VEC) model is used on the secondary data of the period 1989–2016. The results of the study show that corporate tax rate, terrorism, and energy shortfall have significant negative impact on FDI. The study results also confirm that autocratic period was more favorable to attract FDI providing openness to the economy when compared to democratic period. The findings of this study could be used by policy makers for future FDI policy of Pakistan.

ACS Style

Mian Sajid Nazir; Qaisar Hafeez; Salah U‐Din. Did reduction in corporate tax rate attract FDI in Pakistan? International Journal of Finance & Economics 2020, 1 .

AMA Style

Mian Sajid Nazir, Qaisar Hafeez, Salah U‐Din. Did reduction in corporate tax rate attract FDI in Pakistan? International Journal of Finance & Economics. 2020; ():1.

Chicago/Turabian Style

Mian Sajid Nazir; Qaisar Hafeez; Salah U‐Din. 2020. "Did reduction in corporate tax rate attract FDI in Pakistan?" International Journal of Finance & Economics , no. : 1.

Original research article
Published: 15 October 2020 in Frontiers in Psychology
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The paper examines the direct and indirect effects (via investors’ risk perception) of heuristic biases on investors’ irrational behavior in decision-making. The study also investigates the moderating effect of investors’ extraversion on both the direct and the indirect associations between heuristic biases and irrational decision-making. Based on survey data collected from 247 investors registered in various brokerage houses in Pakistan and the analyses (mediation and moderation) performed using the Process Macro technique (proposed by Hayes, 2017) in SPSS, the results of this study reveal that heuristic biases positively affect investors’ irrational decision-making both directly and indirectly via risk perception. The results reveal that extraversion moderates both direct and indirect associations between heuristic biases and investors’ irrational behavior in decision-making. Our findings carry useful practical implications for organizations’ policymakers.

ACS Style

Muhammad Ishfaq; Mian Sajid Nazir; Muhammad Ali Jibran Qamar; Muhammad Usman. Cognitive Bias and the Extraversion Personality Shaping the Behavior of Investors. Frontiers in Psychology 2020, 11, 556506 .

AMA Style

Muhammad Ishfaq, Mian Sajid Nazir, Muhammad Ali Jibran Qamar, Muhammad Usman. Cognitive Bias and the Extraversion Personality Shaping the Behavior of Investors. Frontiers in Psychology. 2020; 11 ():556506.

Chicago/Turabian Style

Muhammad Ishfaq; Mian Sajid Nazir; Muhammad Ali Jibran Qamar; Muhammad Usman. 2020. "Cognitive Bias and the Extraversion Personality Shaping the Behavior of Investors." Frontiers in Psychology 11, no. : 556506.

Original research article
Published: 28 April 2020 in Frontiers in Psychology
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Corporate social responsibility (CSR) is envisaged to offer several outcomes and while customer-specific consequences are unclear or have not obtained due attention, there is a dearth of literature that focuses on perceptual, attitudinal and behavioral outcomes in tandem. Against this backdrop, this study entails the investigation of perceptual (service quality), attitudinal (affective commitment) and behavioral (customer citizenship behavior) outcomes of CSR through a serial mediation mechanism. A total of 994 responses obtained from fast-food restaurants, highlight the fact that CSR influences service quality, affective commitment, and customer citizenship behavior. Moreover, it is witnessed that CSR influences customer citizenship behavior indirectly as well, as the serial mediation mechanism is also proved. The practical and theoretical usefulness of the study is also provided at the end.

ACS Style

Ishfaq Ahmed; Mian Sajid Nazir; Imran Ali; Arooj Khalid; Muhammad Zeeshan Shaukat; Farooq Anwar. “Do Good, Have Good”: A Serial Mediation Analysis of CSR with Customers’ Outcomes. Frontiers in Psychology 2020, 11, 1 .

AMA Style

Ishfaq Ahmed, Mian Sajid Nazir, Imran Ali, Arooj Khalid, Muhammad Zeeshan Shaukat, Farooq Anwar. “Do Good, Have Good”: A Serial Mediation Analysis of CSR with Customers’ Outcomes. Frontiers in Psychology. 2020; 11 ():1.

Chicago/Turabian Style

Ishfaq Ahmed; Mian Sajid Nazir; Imran Ali; Arooj Khalid; Muhammad Zeeshan Shaukat; Farooq Anwar. 2020. "“Do Good, Have Good”: A Serial Mediation Analysis of CSR with Customers’ Outcomes." Frontiers in Psychology 11, no. : 1.

Journal article
Published: 06 February 2020 in Sustainability
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Researchers and scholars have widely attributed corporate social responsibility (CSR) to enormous outcomes. However, the customer-specific outcomes are either less investigated or lack clarity. By focusing on perceptual, attitudinal and behavioral outcomes of CSR, this study entails that CSR influences customers’ citizenship behavior (behavioral outcome) both directly and indirectly (through service quality and affective commitment—perceptual and attitudinal outcomes). Survey data collected from 669 fast-food restaurant customers were analyzed through the structural equation modeling technique. The results revealed a positive and significant relationship between restaurants’ CSR efforts and customers’ behavioral responses in terms of citizenship behavior. Findings also highlight that CSR does not only have a direct relation but the sequential mediation mechanism also exists. The study extends the existing literature by focusing on the ignored causal link of CSR and customer citizenship behavior (CCB) by considering the service quality and affective commitment as an explanatory mechanism, and provides certain practical implications which could also be useful for managers of the restaurant industry to devise their socially responsible practices.

ACS Style

Ishfaq Ahmed; Mian Sajid Nazir; Imran Ali; Mohammad Nurunnabi; Arooj Khalid; Muhammad Zeeshan Shaukat. Investing In CSR Pays You Back in Many Ways! The Case of Perceptual, Attitudinal and Behavioral Outcomes of Customers. Sustainability 2020, 12, 1158 .

AMA Style

Ishfaq Ahmed, Mian Sajid Nazir, Imran Ali, Mohammad Nurunnabi, Arooj Khalid, Muhammad Zeeshan Shaukat. Investing In CSR Pays You Back in Many Ways! The Case of Perceptual, Attitudinal and Behavioral Outcomes of Customers. Sustainability. 2020; 12 (3):1158.

Chicago/Turabian Style

Ishfaq Ahmed; Mian Sajid Nazir; Imran Ali; Mohammad Nurunnabi; Arooj Khalid; Muhammad Zeeshan Shaukat. 2020. "Investing In CSR Pays You Back in Many Ways! The Case of Perceptual, Attitudinal and Behavioral Outcomes of Customers." Sustainability 12, no. 3: 1158.

Journal article
Published: 01 January 2020 in Middle East J. of Management
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This study shows temperature-based indicator impact on trading decision and stock returns to financial investors. By using disaggregated data, we showed that stock markets deviate (anomalies) from fundamentals and contradicts the rule of efficient market hypothesis. Among other anomalies, temperature anomaly is said to be driven through psychological factor of investors' moods which can influence their trading decisions. We find a statistically significant but negative relationship between Karachi temperature and KSE-100 index returns for the period of 2 January 2006 to 31 December 2015. However, Mumbai temperature seems to have no impact on BSE-100 index for the period of our research. Using GARCH methodology, the study incorporates daily temperature data from two South Asian financial hubs and their respective impact on stock returns. The findings of this paper can be further extended to analyse whether other economic sectors are influenced by the temperature-based stock market anomalies.

ACS Style

Mian Sajid Nazir; Hammad Hassan Mirza; Arslan Shaukat; Ayesha Liaqat. Testing for temperature anomaly in capital markets of Pakistan and India. Middle East J. of Management 2020, 7, 1 .

AMA Style

Mian Sajid Nazir, Hammad Hassan Mirza, Arslan Shaukat, Ayesha Liaqat. Testing for temperature anomaly in capital markets of Pakistan and India. Middle East J. of Management. 2020; 7 (1):1.

Chicago/Turabian Style

Mian Sajid Nazir; Hammad Hassan Mirza; Arslan Shaukat; Ayesha Liaqat. 2020. "Testing for temperature anomaly in capital markets of Pakistan and India." Middle East J. of Management 7, no. 1: 1.

Journal article
Published: 01 January 2020 in Cogent Economics & Finance
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ACS Style

Muqaddas Khalid; Qaisar Abbas; Mian Sajid Nazir. Efficiently monitoring the ship of financially distressed companies sinking in Iron law of earnings management: Evidence from Pakistan. Cogent Economics & Finance 2020, 8, 1 .

AMA Style

Muqaddas Khalid, Qaisar Abbas, Mian Sajid Nazir. Efficiently monitoring the ship of financially distressed companies sinking in Iron law of earnings management: Evidence from Pakistan. Cogent Economics & Finance. 2020; 8 (1):1.

Chicago/Turabian Style

Muqaddas Khalid; Qaisar Abbas; Mian Sajid Nazir. 2020. "Efficiently monitoring the ship of financially distressed companies sinking in Iron law of earnings management: Evidence from Pakistan." Cogent Economics & Finance 8, no. 1: 1.

Research article
Published: 04 December 2019 in International Journal of Finance & Economics
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This paper examines the existence and coincidence of pre‐ and‐post stock price multiple bubbles in Chines and Pakistani capital markets under China Pakistan Economic Corridor regime using generalized supremum augmented Dickey–Fuller (GSADF) test with weekly closing prices for the period 2013–2018 for different market indices of Pakistan Stock Exchange (PSX), Shanghai Stock Exchange, and Shenzhen Stock Exchange. Empirical results depict that multiple stock bubbles exist in PSX at the end of 2016 and as well as in Chinese stock markets in the mid of 2014–2015 and these stock price bubbles are correlated between Pakistan and China. The present study is expected to be pioneer in its nature to apply GSADF for the identification of multiple stock bubbles in emerging stock markets of Pakistan and China which can be further used for comparison of stock bubbles in other regional markets such as BRICS or SAARC regions.

ACS Style

Ayesha Liaqat; Mian Sajid Nazir; Iftikhar Ahmad; Hammad Hassan Mirza; Farooq Anwar. Do stock price bubbles correlate between China and Pakistan? An inquiry of pre‐ and post‐Chinese investment in Pakistani capital market under China‐Pakistan Economic Corridor regime. International Journal of Finance & Economics 2019, 25, 323 -335.

AMA Style

Ayesha Liaqat, Mian Sajid Nazir, Iftikhar Ahmad, Hammad Hassan Mirza, Farooq Anwar. Do stock price bubbles correlate between China and Pakistan? An inquiry of pre‐ and post‐Chinese investment in Pakistani capital market under China‐Pakistan Economic Corridor regime. International Journal of Finance & Economics. 2019; 25 (3):323-335.

Chicago/Turabian Style

Ayesha Liaqat; Mian Sajid Nazir; Iftikhar Ahmad; Hammad Hassan Mirza; Farooq Anwar. 2019. "Do stock price bubbles correlate between China and Pakistan? An inquiry of pre‐ and post‐Chinese investment in Pakistani capital market under China‐Pakistan Economic Corridor regime." International Journal of Finance & Economics 25, no. 3: 323-335.

Journal article
Published: 24 June 2019 in Journal of Economic and Administrative Sciences
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Purpose The upsurge of globalization has made investors cautious toward investing decisions, and, resultantly, sophisticated techniques of forecasting and analyzing the stock markets have emerged. Particularly, this trend has gained momentum in emerging economies. One such trend is to overcome the investing risks associated with formation of rational bubbles. Bubbles are formed when asset prices inflate to a very high level temporarily, and they ultimately burst. Investors may take advantage of this short-lived phenomenon and gain high returns, but may also suffer as the entire investing value declines when the bubble bursts. The purpose of this paper is to identify rational bubbles in the emerging capital markets of South Asian region. Design/methodology/approach The monthly data have been obtained from June 1997 to February 2018 for Pakistan, Bombay, Dhaka and Colombo stock markets, and supremum-Augmented Dicky Fuller test developed by Phillips and Yu (2011) has been utilized to identify the rational bubbles. Findings The results revealed the presence of rational bubbles in South Asian equity markets. The current study is of significant nature for the facilitation of investors in future-making investing decisions concerning with the formation of rational bubbles. Originality/value Several studies have been conducted on stock markets of developed regions. Specific bubble episodes, which occurred previously, have helped the researchers and investors in gaining plenty of insights. A lot of studies have been conducted on the SAARC region as well. But they have used the conventional unit root test for bubble identification and not used as extensive data as, in this study, have been taken. This research is aimed to study equity prices of the four stock markets to establish the fact that if rational bubbles exist in the index, they are reflected in the returns or not.

ACS Style

Mian Sajid Nazir; Javeria Mahmood; Fizza Abbas; Ayesha Liaqat. Do rational bubbles exist in emerging markets of SAARC? Journal of Economic and Administrative Sciences 2019, 36, 163 -182.

AMA Style

Mian Sajid Nazir, Javeria Mahmood, Fizza Abbas, Ayesha Liaqat. Do rational bubbles exist in emerging markets of SAARC? Journal of Economic and Administrative Sciences. 2019; 36 (2):163-182.

Chicago/Turabian Style

Mian Sajid Nazir; Javeria Mahmood; Fizza Abbas; Ayesha Liaqat. 2019. "Do rational bubbles exist in emerging markets of SAARC?" Journal of Economic and Administrative Sciences 36, no. 2: 163-182.

Journal article
Published: 01 January 2019 in Middle East J. of Management
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The present study sheds light on the potential dominance of family ownership and its control on CEO compensation in Pakistani family and non-family firms by using data of 132 firms during 2009 to 2015. This study contributes toward new milestone in prior research regarding to developing eastern economies with family dominance in businesses, with respect to impact of family control on CEO compensation. The literature in corporate finance points out that the family firms scrub the level of compensation, which reveals that larger family shareholders play active monitoring role as well as regulate the pay structures of top management. The current study establishes a support for alignment hypothesis of agency theory and does not support the corroboration of managerial rent extracting behaviour in family firms. Moreover, the financial institutions have positive effect on CEO compensation; however, the role of institutions in deciding CEO perks becomes negative in case of family firms as compared to non-family firms.

ACS Style

Anam Tasawar; Mian Sajid Nazir; Farooq Anwar. Do family firms pay more to their CEOs. Middle East J. of Management 2019, 6, 657 .

AMA Style

Anam Tasawar, Mian Sajid Nazir, Farooq Anwar. Do family firms pay more to their CEOs. Middle East J. of Management. 2019; 6 (6):657.

Chicago/Turabian Style

Anam Tasawar; Mian Sajid Nazir; Farooq Anwar. 2019. "Do family firms pay more to their CEOs." Middle East J. of Management 6, no. 6: 657.

Journal article
Published: 01 October 2018 in International Journal of Applied Behavioral Economics
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Role of institutional owners is becoming vital regarding strategic decision making in modern day business corporations. Financial institutions are capable to monitor the empowered company insiders and to regulate the capital market positioning of firms due to their specialized expertise and low cost of monitoring the managers. This article is an attempt to investigate the role of institutional owners on firms' risk-taking behavior in an emerging market. By using the sample of 58 non-financial firms listed at Karachi Stock Exchane-100 (KSE-100) index for a period of 2010 to 2017, these results revealed that institutional ownership can influence firms risk taking decisions. This influence depends on type of institutional ownership; passive owners play negative role in risk taking while active owners play a positive role in risk taking. Size of institutional ownership does not matter in risk taking.

ACS Style

Mian Sajid Nazir; Sadaf Nazir; Aisha Javaid. Role of Institutional Owners in Devising Firms' Risk-Taking Behavior. International Journal of Applied Behavioral Economics 2018, 7, 21 -36.

AMA Style

Mian Sajid Nazir, Sadaf Nazir, Aisha Javaid. Role of Institutional Owners in Devising Firms' Risk-Taking Behavior. International Journal of Applied Behavioral Economics. 2018; 7 (4):21-36.

Chicago/Turabian Style

Mian Sajid Nazir; Sadaf Nazir; Aisha Javaid. 2018. "Role of Institutional Owners in Devising Firms' Risk-Taking Behavior." International Journal of Applied Behavioral Economics 7, no. 4: 21-36.

Journal article
Published: 20 August 2018 in Sustainability
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Disclosures on Corporate Social Responsibility (CSR) practices of business organizations have heightened over the past few decades due to increased awareness. Major contributions in the literature on CSR practices and their disclosures come from the studies conducted in the developed world, while many developing economies like Pakistan remain under-researched and fewer revelations have been made about their CSR practices. Therefore, the present study aims to explore various aspects of CSR practices of Pakistani firms and their reporting trends. A multimethod approach has been adopted to measure CSR practices with respect to both approaches, quantitative and qualitative, for 170 listed firms from 2008 to 2015. First, content analysis is employed to develop a CSR Disclosure Index (CSRD Index) as well as five sub indices, i.e., community welfare, health and education, environment and energy, product, and customer and workforce. Second, a multidimensional financial approach is used to calculate firm’s CSR monetary spending ratio (CSR-MSR) using the monetary data of CSR activities. Results suggested that most Pakistani firms disclose more information about their product-, customer-, and stakeholder-related CSR activities and put less emphasis on health and education responsibilities. Moreover, there is a strong impact of government reforms on both the firm’s CSR disclosures and monetary giving.

ACS Style

Sadaf Ehsan; Mian Sajid Nazir; Mohammad Nurunnabi; Qasim Raza Khan; Samya Tahir; Ishfaq Ahmed. A Multimethod Approach to Assess and Measure Corporate Social Responsibility Disclosure and Practices in a Developing Economy. Sustainability 2018, 10, 2955 .

AMA Style

Sadaf Ehsan, Mian Sajid Nazir, Mohammad Nurunnabi, Qasim Raza Khan, Samya Tahir, Ishfaq Ahmed. A Multimethod Approach to Assess and Measure Corporate Social Responsibility Disclosure and Practices in a Developing Economy. Sustainability. 2018; 10 (8):2955.

Chicago/Turabian Style

Sadaf Ehsan; Mian Sajid Nazir; Mohammad Nurunnabi; Qasim Raza Khan; Samya Tahir; Ishfaq Ahmed. 2018. "A Multimethod Approach to Assess and Measure Corporate Social Responsibility Disclosure and Practices in a Developing Economy." Sustainability 10, no. 8: 2955.

Journal article
Published: 06 August 2018 in Safety Science
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This research endeavor is aimed at investigating the current status of health and safety (HS) practices in informal organizations. Data was collected from 35 small manufacturing firms and 156 construction sites, operating in small towns, using systematic observation and unstructured interviews of both employers and employees. Survey results showed that the working environment in Pakistani informal organizations is poor, as both employers and employees are either not familiar or not performing their due roles towards safety practices. Results also showed that noise, presence of perilous chemical and ergonomic hazards were widely present at work settings. It was also noticed that most of the incidents went unreported due to informal industrial settings. The outcomes of the study offer a direction for policy makers, i.e. to focus on largest employing sector where employees are prone to high level of risks. This study, if implemented, will also help employees indirectly by creating a pressure on employers to offer conduce and thriving environment.

ACS Style

Ishfaq Ahmed; Ahmad Usman; Mian Sajid Nazir; Muhammad Zeeshan Shaukat. Safety practices in informal industrial segment of Pakistan. Safety Science 2018, 110, 83 -91.

AMA Style

Ishfaq Ahmed, Ahmad Usman, Mian Sajid Nazir, Muhammad Zeeshan Shaukat. Safety practices in informal industrial segment of Pakistan. Safety Science. 2018; 110 ():83-91.

Chicago/Turabian Style

Ishfaq Ahmed; Ahmad Usman; Mian Sajid Nazir; Muhammad Zeeshan Shaukat. 2018. "Safety practices in informal industrial segment of Pakistan." Safety Science 110, no. : 83-91.

Journal article
Published: 27 June 2018 in Journal of Risk and Financial Management
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Risk management has been gaining tremendous fame for the last couple of years. Firms in developed and developing countries are facing a variety of risks, i.e., foreign exchange risk, interest rate risk, commodity price risk, and equity risk. It calls for such hedging techniques that mitigate this risk level, thus, allowing corporations to enjoy a solid return. This paper draws attention to a new determinant of hedging, i.e., the role of ownership concentration in risk management using derivative instruments. For this purpose, a sample data of 101 non-financial firms listed on the Pakistan Stock Exchange (PSX) for six years, ranging from 2010–2016, is used. The Mann-Whitney test for difference in users and no-users is applied along with logistic regression to check the effect of ownership concentration on derivative usage. The finding of this study reveals that concentrated owners are less likely to use derivatives for hedging purposes due to concentrated owners’ interests (top five shareholders & largest shareholder, family owners). Whereas, executives are more likely to engage in the use of derivatives to increase the value of their stocks. However, associated companies are significantly less involved in hedging activities. These results are extremely advantageous for policymakers in corporations to create a more stable corporate environment.

ACS Style

Affaf Asghar Butt; Main Sajid Nazir; Hamera Arshad; Aamer Shahzad. Corporate Derivatives and Ownership Concentration: Empirical Evidence of Non-Financial Firms Listed on Pakistan Stock Exchange. Journal of Risk and Financial Management 2018, 11, 33 .

AMA Style

Affaf Asghar Butt, Main Sajid Nazir, Hamera Arshad, Aamer Shahzad. Corporate Derivatives and Ownership Concentration: Empirical Evidence of Non-Financial Firms Listed on Pakistan Stock Exchange. Journal of Risk and Financial Management. 2018; 11 (3):33.

Chicago/Turabian Style

Affaf Asghar Butt; Main Sajid Nazir; Hamera Arshad; Aamer Shahzad. 2018. "Corporate Derivatives and Ownership Concentration: Empirical Evidence of Non-Financial Firms Listed on Pakistan Stock Exchange." Journal of Risk and Financial Management 11, no. 3: 33.

Journal article
Published: 01 June 2018 in Future Business Journal
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ACS Style

Mian Sajid Nazir; Talat Afza. Does managerial behavior of managing earnings mitigate the relationship between corporate governance and firm value? Evidence from an emerging market. Future Business Journal 2018, 4, 139 -156.

AMA Style

Mian Sajid Nazir, Talat Afza. Does managerial behavior of managing earnings mitigate the relationship between corporate governance and firm value? Evidence from an emerging market. Future Business Journal. 2018; 4 (1):139-156.

Chicago/Turabian Style

Mian Sajid Nazir; Talat Afza. 2018. "Does managerial behavior of managing earnings mitigate the relationship between corporate governance and firm value? Evidence from an emerging market." Future Business Journal 4, no. 1: 139-156.

Article
Published: 28 May 2018 in Economic Change and Restructuring
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This paper aims at to investigate the existence of multiple bubbles and specific corresponding events in Pakistan Stock Exchange across different industrial sectors using Generalized Sup Augmented Dickey Fuller (GSADF) test of right-tailed ADF as proposed by Philips et al. (Int Econ Rev 56:1043–1078, 2015a, Int Econ Rev 56:1079–1134, 2015b) by using monthly data for the period of 2007–2016. Findings of study confirm the existence of multiple bubbles in KSE-100 Index along with different industrial sectors. Empirical results depict that Investments, Chemicals and Textile Spinning were the only few sectors where no stock price bubbles were identified. The present study is expected to be pioneer in its nature to apply GSADF for the identification of multiple stock bubbles in emerging stock market of Pakistan which can be further used for comparison of stock bubbles in other regional markets such as BRICS or SAARC regions in order to find out the similarities and dissimilarities in the events causing stock market bubbles.

ACS Style

Ayesha Liaqat; Mian Sajid Nazir; Iftikhar Ahmad. Identification of multiple stock bubbles in an emerging market: application of GSADF approach. Economic Change and Restructuring 2018, 52, 301 -326.

AMA Style

Ayesha Liaqat, Mian Sajid Nazir, Iftikhar Ahmad. Identification of multiple stock bubbles in an emerging market: application of GSADF approach. Economic Change and Restructuring. 2018; 52 (3):301-326.

Chicago/Turabian Style

Ayesha Liaqat; Mian Sajid Nazir; Iftikhar Ahmad. 2018. "Identification of multiple stock bubbles in an emerging market: application of GSADF approach." Economic Change and Restructuring 52, no. 3: 301-326.

Research article
Published: 01 January 2018 in Cogent Economics & Finance
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Pakistan is an emerging economy and characterized by a less developed financial system where trade credit is extensively used by listed manufacturing firms (LMFs). This study is focused to investigate the effect of financial development (FD) and credit information sharing (CIS) on the trade credit used by LMFs. For this purpose, dynamic panel model is estimated by applying system GMM (two-step) estimator on the financial data of 327 manufacturing firms listed in PSX Pakistan for the period 2005–2015. Results of the study reveal that FD and CIS have significant effect on the use of trade credit by LMFs in Pakistan. It is found that increase in financial depth increases the supply of funds to the private sector, and resultantly suppliers provide more trade credit to LMFs. While in response to increase in the lending rate, suppliers reduce the transfer of costly funds to LMFs through trade credit. Furthermore, negative relationship between CIS and the use of trade credit is in accordance with the substitution hypothesis. Results of the study have practical implications for the managers of firms and policy makers alike.

ACS Style

Nisar Ahmad; Mian Sajid Nazir; Bilal Nafees. Impact of financial development and credit information sharing on the use of trade credit: Empirical evidence from Pakistan. Cogent Economics & Finance 2018, 6, 1 .

AMA Style

Nisar Ahmad, Mian Sajid Nazir, Bilal Nafees. Impact of financial development and credit information sharing on the use of trade credit: Empirical evidence from Pakistan. Cogent Economics & Finance. 2018; 6 (1):1.

Chicago/Turabian Style

Nisar Ahmad; Mian Sajid Nazir; Bilal Nafees. 2018. "Impact of financial development and credit information sharing on the use of trade credit: Empirical evidence from Pakistan." Cogent Economics & Finance 6, no. 1: 1.

Articles
Published: 07 September 2017 in International Journal of Occupational Safety and Ergonomics
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This research covers the current status of occupational health and safety (OHS)-related practices in the informal construction segment of Pakistan. Data were collected, through interviews, from 316 construction sites employing 3577 workers. The results of the study reveal that both employers and workers lack knowledge of OHS laws/standards and no practices of this nature are enacted at these construction sites. Alarmingly, work-related accidents, whenever they happen, are not given due attention and there is no formal injury-report system. The informal construction industry employs a huge portion of the informal workforce, and lack of OHS happens at tremendous human cost. These research findings may thus play their role in strengthening the case for reforms in the sector. This study, if properly utilized, may also enable employers of the sector by increasing their knowledge about OHS practices and, as a result, trying to offer safer environments for their workers.

ACS Style

Ishfaq Ahmed; Muhammad Zeeshan Shaukat; Ahmad Usman; Muhammad Musarrat Nawaz; Mian Sajid Nazir. Occupational health and safety issues in the informal economic segment of Pakistan: a survey of construction sites. International Journal of Occupational Safety and Ergonomics 2017, 24, 240 -250.

AMA Style

Ishfaq Ahmed, Muhammad Zeeshan Shaukat, Ahmad Usman, Muhammad Musarrat Nawaz, Mian Sajid Nazir. Occupational health and safety issues in the informal economic segment of Pakistan: a survey of construction sites. International Journal of Occupational Safety and Ergonomics. 2017; 24 (2):240-250.

Chicago/Turabian Style

Ishfaq Ahmed; Muhammad Zeeshan Shaukat; Ahmad Usman; Muhammad Musarrat Nawaz; Mian Sajid Nazir. 2017. "Occupational health and safety issues in the informal economic segment of Pakistan: a survey of construction sites." International Journal of Occupational Safety and Ergonomics 24, no. 2: 240-250.