This paper attempts to examine the link between crude oil prices and industrial returns in Pakistan using daily data for the period of June-2008 to Jan-2021. Mean and volatility spillover is examined by using ARMA (1,1) GARCH (1,1)-M model. In addition, the timevarying nature of conditional correlation is determined by using DCC-GARCH models. Further, study has also investigated the impact of Covid-19 on the relationship between COP and INDR. Findings of the study provide strong evidence of volatility spillover from crude oil prices to Automobile Assemblers, Oil & Gas, Power Generation & Distribution and Refinery but only scarce evidence is found regarding mean spillover. DCC-GARCH model reveals the time-varying nature of conditional correlation between crude oil prices and all other industries. Moreover, the results also provide some evidence about asymmetric behavior in correlation among crude oil prices to Cement and Refinery.
{"title":"Crude Oil Price Shocks and Industrial Returns in Pakistan: An Examination through GARCH Based Dynamic Models","authors":"Hassan Javed, Uzma Bashir, Shoaib Hassan","doi":"10.33897/fujbe.v8i1.706","DOIUrl":"https://doi.org/10.33897/fujbe.v8i1.706","url":null,"abstract":"This paper attempts to examine the link between crude oil prices and industrial returns in Pakistan using daily data for the period of June-2008 to Jan-2021. Mean and volatility spillover is examined by using ARMA (1,1) GARCH (1,1)-M model. In addition, the timevarying nature of conditional correlation is determined by using DCC-GARCH models. Further, study has also investigated the impact of Covid-19 on the relationship between COP and INDR. Findings of the study provide strong evidence of volatility spillover from crude oil prices to Automobile Assemblers, Oil & Gas, Power Generation & Distribution and Refinery but only scarce evidence is found regarding mean spillover. DCC-GARCH model reveals the time-varying nature of conditional correlation between crude oil prices and all other industries. Moreover, the results also provide some evidence about asymmetric behavior in correlation among crude oil prices to Cement and Refinery.","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125025527","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study has been conducted to explore the role of health capital and education capital as compared to physical capital in economic growth of eight developing countries (D-8). The model is specified on the basis of Solow Growth extended model for economic growth. Data is covering twenty-one years from 1995 to 2015. GMM is used to estimate panel data models as causality test proves endogeneity problem in the specified model. This study provides empirical evidence that human capital (i.e. education capital and health capital) and physical capital positively affect economic growth of D-8 economies. However, human capital as compared to physical capital seems to be the engine of economic growth in these developing countries. Policy makers should consider investing in initiatives that improve human capital, such as providing better education opportunities, improving public health initiatives, and providing better access to healthcare. They should also seek to ensure that initiatives to increase physical capital, such as infrastructure and technological advancements, are implemented in a way that benefits communities with the greatest need. Additionally, policy makers should consider initiatives that incentivize businesses to invest in their employees, such as providing tax credits for businesses that invest in employee training and development. Finally, policy makers should make sure that any initiatives to increase human and physical capital are equitable and accessible to all citizens, regardless of their social, economic, or racial backgrounds.
{"title":"IMPACT OF HUMAN CAPITAL ON ECONOMIC GROWTH IN D-8 COUNTRIES: GMM ESTIMATION OF PANEL DATA MODELS","authors":"Muhammad Akbar, Muhammad Ali Gardezi, Zahid Iqbal","doi":"10.33897/fujbe.v8i1.702","DOIUrl":"https://doi.org/10.33897/fujbe.v8i1.702","url":null,"abstract":"This study has been conducted to explore the role of health capital and education capital as compared to physical capital in economic growth of eight developing countries (D-8). The model is specified on the basis of Solow Growth extended model for economic growth. Data is covering twenty-one years from 1995 to 2015. GMM is used to estimate panel data models as causality test proves endogeneity problem in the specified model. This study provides empirical evidence that human capital (i.e. education capital and health capital) and physical capital positively affect economic growth of D-8 economies. However, human capital as compared to physical capital seems to be the engine of economic growth in these developing countries. Policy makers should consider investing in initiatives that improve human capital, such as providing better education opportunities, improving public health initiatives, and providing better access to healthcare. They should also seek to ensure that initiatives to increase physical capital, such as infrastructure and technological advancements, are implemented in a way that benefits communities with the greatest need. Additionally, policy makers should consider initiatives that incentivize businesses to invest in their employees, such as providing tax credits for businesses that invest in employee training and development. Finally, policy makers should make sure that any initiatives to increase human and physical capital are equitable and accessible to all citizens, regardless of their social, economic, or racial backgrounds.","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125530378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Amjad Masood, S. H. Hashmi, Muhammad Imran Nazir, Basharat Khan
The BRICS economies contribute a substantial portion of global trade. However, the share of cultural export in their total exports has been declining over the past two decades. In this context, the current study examines cultural exports of BRICS compared to their aggregate exports using structural gravity model. For empirical estimation, we apply Poisson Pseudo-Maximum Likelihood High Dimensional Fixed Effects (PPMLHDFE) estimator for annual bilateral exports data. The results show that, as compared to non-cultural aggregate exports, exports of creative industries are more sensitive to geographical distance between countries. Nevertheless, positive effect of the similarity between trading partners in terms of language commonality, colonial relationship and shared border is more pronounced in case of cultural exports. Furthermore, we find that while the regional trade agreements promote exports in general, they remain inconsequential in case of cultural exports of BRICS. Additionally, the study uses cultural exports as a proxy for cultural proximity and finds that bilateral cultural exports facilitate the exports of non-cultural exports.
{"title":"Export Competence of Cultural Goods: A Structural Gravity Analysis of the BRICS Trade","authors":"Amjad Masood, S. H. Hashmi, Muhammad Imran Nazir, Basharat Khan","doi":"10.33897/fujbe.v8i1.708","DOIUrl":"https://doi.org/10.33897/fujbe.v8i1.708","url":null,"abstract":"The BRICS economies contribute a substantial portion of global trade. However, the share of cultural export in their total exports has been declining over the past two decades. In this context, the current study examines cultural exports of BRICS compared to their aggregate exports using structural gravity model. For empirical estimation, we apply Poisson Pseudo-Maximum Likelihood High Dimensional Fixed Effects (PPMLHDFE) estimator for annual bilateral exports data. The results show that, as compared to non-cultural aggregate exports, exports of creative industries are more sensitive to geographical distance between countries. Nevertheless, positive effect of the similarity between trading partners in terms of language commonality, colonial relationship and shared border is more pronounced in case of cultural exports. Furthermore, we find that while the regional trade agreements promote exports in general, they remain inconsequential in case of cultural exports of BRICS. Additionally, the study uses cultural exports as a proxy for cultural proximity and finds that bilateral cultural exports facilitate the exports of non-cultural exports.","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133092611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The study aimed to better understand how millennials' attitudes, buying intentions, and behavior related to green products with the help of the theory of planned behavior. The research also looked at the function of green purchase intentions (GPI), a subjective norm (SN), in mediating the affiliation between attitudes toward green products (AGP), perceived control behavior, and green purchasing behavior (GPB). The data was gathered from 256 millennials from Pakistan's twin cities using a well-structured questionnaire. The Smart PLS computer application was used to examine the data by means of the partial least squares (PLS) technique. Additionally, the results revealed that GPI had a notable impact on GPB. The interaction between AGP and GPB was mediated by GPI. Similarly, SN and GPB were also mediated by GPI. Promoting knowledge of the many factors influencing green purchase behavior, the study will assist policymakers and green marketers in formulating and putting into practice initiatives to stimulate green shopping.
{"title":"Examining the Theory of Planned Behaviour in Green Purchasing Behaviour – A Case of Millennial’s Consumption of Organic Food","authors":"Bakhtiar Ali, Mehreen Fatima, Qazi Mohammed Ahmed","doi":"10.33897/fujbe.v8i1.707","DOIUrl":"https://doi.org/10.33897/fujbe.v8i1.707","url":null,"abstract":"The study aimed to better understand how millennials' attitudes, buying intentions, and behavior related to green products with the help of the theory of planned behavior. The research also looked at the function of green purchase intentions (GPI), a subjective norm (SN), in mediating the affiliation between attitudes toward green products (AGP), perceived control behavior, and green purchasing behavior (GPB). The data was gathered from 256 millennials from Pakistan's twin cities using a well-structured questionnaire. The Smart PLS computer application was used to examine the data by means of the partial least squares (PLS) technique. Additionally, the results revealed that GPI had a notable impact on GPB. The interaction between AGP and GPB was mediated by GPI. Similarly, SN and GPB were also mediated by GPI. Promoting knowledge of the many factors influencing green purchase behavior, the study will assist policymakers and green marketers in formulating and putting into practice initiatives to stimulate green shopping.","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115120848","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Almost all the developing economies are confronted with three gaps which are termed as foreign exchange, savings-investment and fiscal gap. These gaps constrain the economic growth. Pakistan is also one of such developing economies and substantially facing three gaps in its economy. In order to observe the effect of these gaps on economic growth, we have used time series data ranging from 1980 to 2019. In the foreign exchange constrained growth findings show that an increase in investment opportunity, growth rate of potential GDP and a stable exchange rate will reduce the current account deficit there by increasing the growth rate of potential GDP. In the saving constrained growth findings show that an increase in tax revenue will increase the public savings reducing the saving-investment gap which will accelerate the potential GDP's growth rate. In the fiscal constrained growth finding show that public investment crowds in private investment, as private investment increases tax revenue will increase thereby reducing the fiscal gap. Higher tax revenue and public borrowing increase the growth rate of potential GDP.
{"title":"Pakistan's Economic Growth Restraints: The Three-Gap Model","authors":"Azra Khan, Saadia Safdar, Sadddam Hussain","doi":"10.33897/fujbe.v8i1.704","DOIUrl":"https://doi.org/10.33897/fujbe.v8i1.704","url":null,"abstract":"Almost all the developing economies are confronted with three gaps which are termed as foreign exchange, savings-investment and fiscal gap. These gaps constrain the economic growth. Pakistan is also one of such developing economies and substantially facing three gaps in its economy. In order to observe the effect of these gaps on economic growth, we have used time series data ranging from 1980 to 2019. In the foreign exchange constrained growth findings show that an increase in investment opportunity, growth rate of potential GDP and a stable exchange rate will reduce the current account deficit there by increasing the growth rate of potential GDP. In the saving constrained growth findings show that an increase in tax revenue will increase the public savings reducing the saving-investment gap which will accelerate the potential GDP's growth rate. In the fiscal constrained growth finding show that public investment crowds in private investment, as private investment increases tax revenue will increase thereby reducing the fiscal gap. Higher tax revenue and public borrowing increase the growth rate of potential GDP.","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"216 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133338979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Muhammad Hanif, M. Athar, Zia Ur Rehman, Abaidullah Anwar, Muhammad Qasim Ali
Purpose: The most important objective of this study is to investigate the associations of diversity management practices (DMP) and organizational performance with moderating role of functional leadership dimensions in Pakistan. Methodology: DMPs have been assessed employing EPDMP scale and functional leadership dimensions were measured with scale developed by Santos et al., 2015 on a total sample size of 499 employees serving in HEI in Pakistan. The data was collected from employees of higher education sector institutions. The PLS-SEM technique was applied for effective data analysis.Findings: Results of the study reveal that greater diversity may not necessarily generate inclusive environment-certain diversity inclusive functional leadership dimensions and are essential to encourage diversity workplace environment where personnel think respected and valued. Results also indicate that diversity-inclusive functional leadership dimensions regulate the association among workforce diversity management and the organizational performance. Conclusions: The Study concluded that the diversity management has significant direct and positive impact on the organizational performance. Therefore, leaders who creates plans, ideas and make policies especially those who carried out a business and governments institutions need to formulate such HR statutes, regulations, rules, policies, and practices that promote heterogeneous personnel in organizations and bid equal opportunities to all personnel unrestricted by their individual employee’s characteristics such as race, gender, ethnicity, religion, etc, Practical implications: The results are very supportive for HR directors for the effective workforce diversity management to boost the organizational performance. Originality/value: The study describes the relationship of the diversity management and organizational performance with the moderating role of diversity inclusive functional leadership dimensions.
{"title":"Role of Leadership for Diversity Management and Organizational Performance: Moderation Model of Diversity and Functional Leadership Dimensions in Pakistan","authors":"Muhammad Hanif, M. Athar, Zia Ur Rehman, Abaidullah Anwar, Muhammad Qasim Ali","doi":"10.33897/fujbe.v8i1.705","DOIUrl":"https://doi.org/10.33897/fujbe.v8i1.705","url":null,"abstract":"Purpose: The most important objective of this study is to investigate the associations of diversity management practices (DMP) and organizational performance with moderating role of functional leadership dimensions in Pakistan. Methodology: DMPs have been assessed employing EPDMP scale and functional leadership dimensions were measured with scale developed by Santos et al., 2015 on a total sample size of 499 employees serving in HEI in Pakistan. The data was collected from employees of higher education sector institutions. The PLS-SEM technique was applied for effective data analysis.Findings: Results of the study reveal that greater diversity may not necessarily generate inclusive environment-certain diversity inclusive functional leadership dimensions and are essential to encourage diversity workplace environment where personnel think respected and valued. Results also indicate that diversity-inclusive functional leadership dimensions regulate the association among workforce diversity management and the organizational performance. Conclusions: The Study concluded that the diversity management has significant direct and positive impact on the organizational performance. Therefore, leaders who creates plans, ideas and make policies especially those who carried out a business and governments institutions need to formulate such HR statutes, regulations, rules, policies, and practices that promote heterogeneous personnel in organizations and bid equal opportunities to all personnel unrestricted by their individual employee’s characteristics such as race, gender, ethnicity, religion, etc, Practical implications: The results are very supportive for HR directors for the effective workforce diversity management to boost the organizational performance. Originality/value: The study describes the relationship of the diversity management and organizational performance with the moderating role of diversity inclusive functional leadership dimensions.","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124919230","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Adnan Riaz, Muhammad Saeed, Ra Mazhar Hameed, Ausima Sultan Malik, Malik Muhammad Afzal
This study explores the relationship between the threat of terrorism and the job performance of police employees. It also examines the potential mediating effect of jobrelated anxiety between the threat of terrorism to job performance relationship and the moderating effect of innovative work behaviour among Punjab Police personnel. Multisource (employee and respective supervisor), time-lagged data from 425 respondents, was collected, which shows that the threat of terrorism increases jobrelated anxiety of employees which in turn reduces job performance. Personnel's innovative work behaviour buffers the negative effect of perceived threats of terrorism on job-related anxiety, resultantly the relationship is mitigated for those who are innovative in their work behaviour and practices. In an external environment where terrorism presents a credible threat, organizations can, therefore, encourage employees to exercise innovative ways to enhance security provisions at different levels. The study results showed; a direct association between the perceived Threat of Terrorism (TOT) and Job-Related Anxiety (JRA). While an inverse relationship was emerged between Job-Related Anxiety and Job Performance (JP) and Innovative Work Behaviour (IWB) mitigated the positive relationship between the Perceived Threat of Terrorism and Job-Related Anxiety. Mediation role of Job-Related Anxiety between the perceived Threat of Terrorism and Job Performance was also explored. It shows that when employees feel a threat of terrorism, causes them to feel anxiety which curtails their performance of employees. However, innovative employees diffuse stress by coming up with novel solutions. Our study is limited due to the sample size. Other psychological reservoirs may also be incorporated in the same model to see the mitigating effect. However, managers may provide training interventions to help in developing innovative behaviour.
{"title":"Impact of a Perceived Threat of Terrorism on Job Performance: A Moderated-Mediated Model","authors":"Adnan Riaz, Muhammad Saeed, Ra Mazhar Hameed, Ausima Sultan Malik, Malik Muhammad Afzal","doi":"10.33897/fujbe.v8i1.701","DOIUrl":"https://doi.org/10.33897/fujbe.v8i1.701","url":null,"abstract":"This study explores the relationship between the threat of terrorism and the job performance of police employees. It also examines the potential mediating effect of jobrelated anxiety between the threat of terrorism to job performance relationship and the moderating effect of innovative work behaviour among Punjab Police personnel. Multisource (employee and respective supervisor), time-lagged data from 425 respondents, was collected, which shows that the threat of terrorism increases jobrelated anxiety of employees which in turn reduces job performance. Personnel's innovative work behaviour buffers the negative effect of perceived threats of terrorism on job-related anxiety, resultantly the relationship is mitigated for those who are innovative in their work behaviour and practices. In an external environment where terrorism presents a credible threat, organizations can, therefore, encourage employees to exercise innovative ways to enhance security provisions at different levels. The study results showed; a direct association between the perceived Threat of Terrorism (TOT) and Job-Related Anxiety (JRA). While an inverse relationship was emerged between Job-Related Anxiety and Job Performance (JP) and Innovative Work Behaviour (IWB) mitigated the positive relationship between the Perceived Threat of Terrorism and Job-Related Anxiety. Mediation role of Job-Related Anxiety between the perceived Threat of Terrorism and Job Performance was also explored. It shows that when employees feel a threat of terrorism, causes them to feel anxiety which curtails their performance of employees. However, innovative employees diffuse stress by coming up with novel solutions. Our study is limited due to the sample size. Other psychological reservoirs may also be incorporated in the same model to see the mitigating effect. However, managers may provide training interventions to help in developing innovative behaviour.","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115941536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Hasnain Naqvi, Ghulam Moeen Ud Din, Muhammad Azhar Khan, Nadeem Iqbal
The objective of this paper is to study the effects of the Agricultural Income Tax on Welfare of the Household as well as Income Inequality in Pakistan. The analysis is performed to examine the implementation of the tax in the country. The CGE model was used to analyze the various economic effects of the proposed tax on agriculture income. It also aims to analyze its benefits at the household and macro levels. The study was conducted to determine if the implementation of the tax on agricultural income would be feasible in Pakistan. The variables that were analyzed in this study included the implementation of the tax on income from agricultural sector`s households and the reducing the rates of sales tax. The results of the study revealed that the implementation of the tax on agricultural income would have beneficial effects on the country's economy-wide welfare indicators. The paper also noted that the implementation of the tax on agricultural income could help improve the country's household utility and economic indicators at the micro level.
{"title":"Financial Effects of Expanding Tax Net to Agricultural Income in the Underdeveloped Economy","authors":"Hasnain Naqvi, Ghulam Moeen Ud Din, Muhammad Azhar Khan, Nadeem Iqbal","doi":"10.33897/fujbe.v8i1.703","DOIUrl":"https://doi.org/10.33897/fujbe.v8i1.703","url":null,"abstract":"The objective of this paper is to study the effects of the Agricultural Income Tax on Welfare of the Household as well as Income Inequality in Pakistan. The analysis is performed to examine the implementation of the tax in the country. The CGE model was used to analyze the various economic effects of the proposed tax on agriculture income. It also aims to analyze its benefits at the household and macro levels. The study was conducted to determine if the implementation of the tax on agricultural income would be feasible in Pakistan. The variables that were analyzed in this study included the implementation of the tax on income from agricultural sector`s households and the reducing the rates of sales tax. The results of the study revealed that the implementation of the tax on agricultural income would have beneficial effects on the country's economy-wide welfare indicators. The paper also noted that the implementation of the tax on agricultural income could help improve the country's household utility and economic indicators at the micro level.","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116244311","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Q. Ahmed, Anees Wajid, Muhammad Arsalan Nazir, Tehsin Ahmad
The purpose of the study is to investigate the underlying mechanism between the relationship of consumers' beliefs (in terms of credibility, invasiveness, and infotainment), behavioral intentions [in terms of electronic word of mouth (e-WOM) and purchase intentions] and resilience towards negative information (RNI). We propose that these relationships are sequentially mediated by consumers' perceived social media advertising value (PSMAV) and their attitudes towards social media advertising (CATSMA). We report the results based on two studies. For study 1 (pre- COVID-19), we draw on survey evidence from 673 active users of social media (comprising of students & professionals) in Pakistan. For study 2 (post COVID-19), we draw on a usable sample of 263 respondents of similar demographics. Data are analyzed using variance-based structural equation modeling. Results of study 1 reveal that the relationships of infotainment and credibility with behavioral intentions are positive and partially mediated by the sequence of PSMAV and CATSMA. However, the relationship between invasiveness and behavioral intentions is negative and fully mediated by the sequence of PSMAV and CATSMA. For study 2, for both infotainment and credibility; PSMAV and CATSMA sequentially mediate the relationship between these belief constructs and RNI. For invasiveness, this sequential mediation remains ineffective. Consumer attitudes also show a positive linkage with RNI. This paper extends the extant literature by showing how (in a social media advertising context) consumers' beliefs relate to consumers' behavioral intentions and how positive attitudes formulate a higher RNI. Furthermore, we advance the literature by drawing on evidence from an under-researched context of Pakistan that has experienced dynamic changes during the pandemic era.
{"title":"Consumer Behaviour towards Social Media under COVID-19: A Multi-Study Evidence from Pakistan","authors":"Q. Ahmed, Anees Wajid, Muhammad Arsalan Nazir, Tehsin Ahmad","doi":"10.33897/fujbe.v7i2.677","DOIUrl":"https://doi.org/10.33897/fujbe.v7i2.677","url":null,"abstract":"The purpose of the study is to investigate the underlying mechanism between the relationship of consumers' beliefs (in terms of credibility, invasiveness, and infotainment), behavioral intentions [in terms of electronic word of mouth (e-WOM) and purchase intentions] and resilience towards negative information (RNI). We propose that these relationships are sequentially mediated by consumers' perceived social media advertising value (PSMAV) and their attitudes towards social media advertising (CATSMA). We report the results based on two studies. For study 1 (pre- COVID-19), we draw on survey evidence from 673 active users of social media (comprising of students & professionals) in Pakistan. For study 2 (post COVID-19), we draw on a usable sample of 263 respondents of similar demographics. Data are analyzed using variance-based structural equation modeling. Results of study 1 reveal that the relationships of infotainment and credibility with behavioral intentions are positive and partially mediated by the sequence of PSMAV and CATSMA. However, the relationship between invasiveness and behavioral intentions is negative and fully mediated by the sequence of PSMAV and CATSMA. For study 2, for both infotainment and credibility; PSMAV and CATSMA sequentially mediate the relationship between these belief constructs and RNI. For invasiveness, this sequential mediation remains ineffective. Consumer attitudes also show a positive linkage with RNI. This paper extends the extant literature by showing how (in a social media advertising context) consumers' beliefs relate to consumers' behavioral intentions and how positive attitudes formulate a higher RNI. Furthermore, we advance the literature by drawing on evidence from an under-researched context of Pakistan that has experienced dynamic changes during the pandemic era.","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128060644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to discover effect of firm characteristics on the linkage of free cash flows and firm financial performance. Precisely, the current study has two main objectives: first, to setup the relationship between free cash flows and financial performance of non-financial firms; secondly, to investigate the moderating impact of firm characteristics of this relationship. The firm characteristics considered in this study are firm size and age. The study used secondary panel data which was obtained from 95 non-financial firms registered at PSX for the period of 2009-2019. Regression analysis was used in data evaluation. Results pointed out that free cash flows have substantial positive effect on financial performance, while firm' characteristics have a negative significant moderating effect on this relationship. The key academic input of the study is that free cash flows have a positive statistically significant effect on financial performance. The study suggests that firm managers, shareholders, and practitioners should focus more on the need for firms to generate more FCF.”
{"title":"The Moderating Impact of Firm Characteristics on Free Cash Flows and Financial Performance: Evidence from Pakistan Stock Exchange","authors":"Aqsa Suleman, Shahzad Butt, Tehsin Ahmad","doi":"10.33897/fujbe.v7i2.681","DOIUrl":"https://doi.org/10.33897/fujbe.v7i2.681","url":null,"abstract":"This study aims to discover effect of firm characteristics on the linkage of free cash flows and firm financial performance. Precisely, the current study has two main objectives: first, to setup the relationship between free cash flows and financial performance of non-financial firms; secondly, to investigate the moderating impact of firm characteristics of this relationship. The firm characteristics considered in this study are firm size and age. The study used secondary panel data which was obtained from 95 non-financial firms registered at PSX for the period of 2009-2019. Regression analysis was used in data evaluation. Results pointed out that free cash flows have substantial positive effect on financial performance, while firm' characteristics have a negative significant moderating effect on this relationship. The key academic input of the study is that free cash flows have a positive statistically significant effect on financial performance. The study suggests that firm managers, shareholders, and practitioners should focus more on the need for firms to generate more FCF.”","PeriodicalId":162952,"journal":{"name":"Foundation University Journal of Business & Economics","volume":"121 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124148502","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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