Personnel executives would be wise to track the worth of Added productivity and how they affect venture success in order to garner management's attention and establish credibility. In order to highlight the impact of HR practices, Maike Andresen and Christian Nowak respond to two crucial queries: What additional benefit does investment in HR processes and functions provide? How can the worth added produced by HR practices and functions be measured? An impression of the ORMM- four stage methodologies that organizes the process of establishing the supplementary assessment of Human Resource Management is provided in order to address three key questions: It is necessary to model the explanatory association (R) among theoretical underpinnings and response determinants based on a specification of the response determinants (O). Furthermore, the worth added must be monitored and evaluated using appropriate measurements (M). In addition, a summary of the articles in this edited book demonstrates how this edited book aid both practitioners as well as academics in textual writings in light of the well acknowledged theory-practice gap.
{"title":"Human Resource Management Practices: Assessing Value Added: Book Review","authors":"Gemechu Tufa, S. Kant","doi":"10.56556/jssms.v2i1.450","DOIUrl":"https://doi.org/10.56556/jssms.v2i1.450","url":null,"abstract":"Personnel executives would be wise to track the worth of Added productivity and how they affect venture success in order to garner management's attention and establish credibility. In order to highlight the impact of HR practices, Maike Andresen and Christian Nowak respond to two crucial queries: What additional benefit does investment in HR processes and functions provide? How can the worth added produced by HR practices and functions be measured? An impression of the ORMM- four stage methodologies that organizes the process of establishing the supplementary assessment of Human Resource Management is provided in order to address three key questions: It is necessary to model the explanatory association (R) among theoretical underpinnings and response determinants based on a specification of the response determinants (O). Furthermore, the worth added must be monitored and evaluated using appropriate measurements (M). In addition, a summary of the articles in this edited book demonstrates how this edited book aid both practitioners as well as academics in textual writings in light of the well acknowledged theory-practice gap.","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"102 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75848051","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}
Dr.Mohammad Azam, Dr. Ghlama Haddad, Dr. Naveed Naveed, A. Iqbal
The risk-free rates are widely used as benchmark to measure excess stocks returns or excess market returns and contribute a significant role in Asset Pricing Models. The purpose of this study is to scrutinize the risk and real excess portfolio returns using inflation adjusted risk-free rates, a unique measuring technique with a primary focus on the momentum augmented Fama-French five-factor model, utilising monthly data for 1994-2022 from the Pakistan Stock Exchange. Using OLS regression technique, the findings reveal that except profitability, the market, size, value, momentum and investment move largely correlated with excess portfolio stocks returns. The Gibbons, Ross & Shanken test confirms that the momentum augmented Fama-French five-factor model outperforms in the market.
{"title":"Unveiling the black swan of the Inflation-Adjusted Real Excess Returns-Risk Nexus: Evidence from Pakistan","authors":"Dr.Mohammad Azam, Dr. Ghlama Haddad, Dr. Naveed Naveed, A. Iqbal","doi":"10.56556/jssms.v1i4.399","DOIUrl":"https://doi.org/10.56556/jssms.v1i4.399","url":null,"abstract":"The risk-free rates are widely used as benchmark to measure excess stocks returns or excess market returns and contribute a significant role in Asset Pricing Models. The purpose of this study is to scrutinize the risk and real excess portfolio returns using inflation adjusted risk-free rates, a unique measuring technique with a primary focus on the momentum augmented Fama-French five-factor model, utilising monthly data for 1994-2022 from the Pakistan Stock Exchange. Using OLS regression technique, the findings reveal that except profitability, the market, size, value, momentum and investment move largely correlated with excess portfolio stocks returns. The Gibbons, Ross & Shanken test confirms that the momentum augmented Fama-French five-factor model outperforms in the market.","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"31 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75109901","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 investor’s behaviour had always raised eyebrows on the behaviour towards the trading activities within the stock market exchange. As the major secondary market of the trading activities of the stock investments, it is understood that it is importance to understand the behaviour of the investors as higher trading activities in the stock market exchange will promote better stability of the stock market. The study is aimed to explore the potential reach of the investors in trading behaviour in Bursa Malaysia with reference to the performance of the KLSE market index. The previous study had suggested that the better stock market performance will provide the investors with higher confidence in the stock performance which will motivate the higher trading volume in the market. With this, the methodology of the quantitative research had studied the historical data for the past 20 years to understand the behaviour and pattern between the movement of the KLSE market index growth against the trading volume growth within the Bursa Malaysia. The outcome of the study provides ethe evidence that suggest there is no relevance of the correlation observed between the KLSE market index growth and the trading volume growth as well as there is no significant relationship detected between the two variables. This had been a significant contribution based on the outcome of the study which put forward further suggestion on the future research area for the benefits of academic.
{"title":"To Study the Reaction of the Investors in Trading Behaviour in Bursa Malaysia Based on KLSE Market Index Performance","authors":"Wee Win Yeoh","doi":"10.56556/jssms.v1i4.368","DOIUrl":"https://doi.org/10.56556/jssms.v1i4.368","url":null,"abstract":"The investor’s behaviour had always raised eyebrows on the behaviour towards the trading activities within the stock market exchange. As the major secondary market of the trading activities of the stock investments, it is understood that it is importance to understand the behaviour of the investors as higher trading activities in the stock market exchange will promote better stability of the stock market. The study is aimed to explore the potential reach of the investors in trading behaviour in Bursa Malaysia with reference to the performance of the KLSE market index. The previous study had suggested that the better stock market performance will provide the investors with higher confidence in the stock performance which will motivate the higher trading volume in the market. With this, the methodology of the quantitative research had studied the historical data for the past 20 years to understand the behaviour and pattern between the movement of the KLSE market index growth against the trading volume growth within the Bursa Malaysia. The outcome of the study provides ethe evidence that suggest there is no relevance of the correlation observed between the KLSE market index growth and the trading volume growth as well as there is no significant relationship detected between the two variables. This had been a significant contribution based on the outcome of the study which put forward further suggestion on the future research area for the benefits of academic.","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89528087","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 focuses on the empirical study on the acceptance in the working from home in the post pandemic in the new normal of working environment in Malaysia. The impact from the pandemic had observe the rise of the new trend in the working from home arrangement which had become the new norm in the corporate employees working approach. However, there is still lack of evidence to point out that the working from home is widely acceptance by the employees in Malaysia, especially with the lifted up on the restriction on the on the lockdown where returning to office become an option for the employees. The previous suggestion suggested that the work from home approach will become the new trend for the new normal where majority of the previous study did provide the suggestion indicating there will be significant relationship from the perceived usefulness and perceived ease of use derived from the technology acceptance model (TAM) framework. This study will focus in the application of the quantitative research method which observe the data analysis using the sample size of 150 respondents selected from the target population among the working employees in Malaysia. The result from the findings of the study had shown only the perceived usefulness had been identified with supporting evidence to point out the significant in the relationship towards the employee’s acceptance in working from home but the perceived ease of use failed to show any existence of the evidence which suggest otherwise. The outcome of the study had provided significant contribution towards the corporate and academic where the research limitations and suggestion for the future research had been drawn to conclude the overall research study.
{"title":"The Empirical Study on TAM Framework towards the Shift into the Working from Home Culture in Malaysia","authors":"Wee Win Yeoh","doi":"10.56556/jssms.v2i1.338","DOIUrl":"https://doi.org/10.56556/jssms.v2i1.338","url":null,"abstract":"This study focuses on the empirical study on the acceptance in the working from home in the post pandemic in the new normal of working environment in Malaysia. The impact from the pandemic had observe the rise of the new trend in the working from home arrangement which had become the new norm in the corporate employees working approach. However, there is still lack of evidence to point out that the working from home is widely acceptance by the employees in Malaysia, especially with the lifted up on the restriction on the on the lockdown where returning to office become an option for the employees. The previous suggestion suggested that the work from home approach will become the new trend for the new normal where majority of the previous study did provide the suggestion indicating there will be significant relationship from the perceived usefulness and perceived ease of use derived from the technology acceptance model (TAM) framework. This study will focus in the application of the quantitative research method which observe the data analysis using the sample size of 150 respondents selected from the target population among the working employees in Malaysia. The result from the findings of the study had shown only the perceived usefulness had been identified with supporting evidence to point out the significant in the relationship towards the employee’s acceptance in working from home but the perceived ease of use failed to show any existence of the evidence which suggest otherwise. The outcome of the study had provided significant contribution towards the corporate and academic where the research limitations and suggestion for the future research had been drawn to conclude the overall research study.","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"16 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78979562","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}
A. Raihan, Liton Chandra Voumik, S. M. Nafi, Bapon Chandra Kuri
Based on data collected from 32 Asian countries between the years 1996 and 2020, this study investigated the effect that tourism has on women's participation in the workforce. This research makes use of a panel data model, one-step difference and system GMMs, and quantile regression. Trade, child mortality, FDI, and government spending are all taken into account in addition to GDP. The findings demonstrate that an increase in tourism led to a greater level of female participation in the employment sector. Additionally, exports and FDI both contributed to a rise in the number of women in the labor force. However, both remittances and government spending reduce women's participation in the labor force. Out of the three subsectors, the increase in tourism led to more women working in the industry and service sectors. However, a rise in tourism tends to lead to a decline in the number of agricultural jobs held by women. Women's employment opportunities in the industrial and service sectors grow as a result of tourism but shrink in the agricultural sectors. To analyze labor dynamics, this study is crucial for policymakers. It's useful for promoting tourism in Asia and formulating policy related to it. Employment-related policies in the agricultural, industrial, and service sectors of Asian economies would also benefit greatly from this.
{"title":"How Tourism Affects Women's Employment in Asian Countries: An Application of GMM and Quantile Regression","authors":"A. Raihan, Liton Chandra Voumik, S. M. Nafi, Bapon Chandra Kuri","doi":"10.56556/jssms.v1i4.335","DOIUrl":"https://doi.org/10.56556/jssms.v1i4.335","url":null,"abstract":"Based on data collected from 32 Asian countries between the years 1996 and 2020, this study investigated the effect that tourism has on women's participation in the workforce. This research makes use of a panel data model, one-step difference and system GMMs, and quantile regression. Trade, child mortality, FDI, and government spending are all taken into account in addition to GDP. The findings demonstrate that an increase in tourism led to a greater level of female participation in the employment sector. Additionally, exports and FDI both contributed to a rise in the number of women in the labor force. However, both remittances and government spending reduce women's participation in the labor force. Out of the three subsectors, the increase in tourism led to more women working in the industry and service sectors. However, a rise in tourism tends to lead to a decline in the number of agricultural jobs held by women. Women's employment opportunities in the industrial and service sectors grow as a result of tourism but shrink in the agricultural sectors. To analyze labor dynamics, this study is crucial for policymakers. It's useful for promoting tourism in Asia and formulating policy related to it. Employment-related policies in the agricultural, industrial, and service sectors of Asian economies would also benefit greatly from this.","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"76 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76552408","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 main purpose of this study is to evaluate the relationship between capital adequacy, liquidity management, credit risk management, and financial performance with moderating role of bank ownership. This study used secondary data approach and collect 10 years panel data from 2012-2021 from the financial statements of the 15 Pakistani commercial banks. State software is used to analyze the data. Results show that there is a positive relationship between capital adequacy, liquidity management, credit risk management, and financial performance. But, on the other hand, there is not a strong moderating effect of bank ownership. The outcomes have been nearly the equal in all samples indicating that foreign ownership is not an important component of profitability in the quarter and as such a public coverage to encourage the presence of foreign banks might also, therefore, no longer yield any advantage in terms of financial institution profitability. This result is robust to the use of regulate- local measures whilst endogeneity concerns are controlled for. Furthermore, the findings imply that the stock liquidity issue of profits management is undoubtedly associated with future stock returns in Chinese corporations. Our outcomes reveal that the inventory liquidity thing of quick- termism in managerial choices performs a crucial role in figuring out destiny inventory returns.
{"title":"Impact of capital adequacy, liquidity management and credit risk management on economic performance: Evidence from Pakistan.","authors":"S. Hussain, Abdul Rasheed","doi":"10.56556/jssms.v1i4.346","DOIUrl":"https://doi.org/10.56556/jssms.v1i4.346","url":null,"abstract":"The main purpose of this study is to evaluate the relationship between capital adequacy, liquidity management, credit risk management, and financial performance with moderating role of bank ownership. This study used secondary data approach and collect 10 years panel data from 2012-2021 from the financial statements of the 15 Pakistani commercial banks. State software is used to analyze the data. Results show that there is a positive relationship between capital adequacy, liquidity management, credit risk management, and financial performance. But, on the other hand, there is not a strong moderating effect of bank ownership. The outcomes have been nearly the equal in all samples indicating that foreign ownership is not an important component of profitability in the quarter and as such a public coverage to encourage the presence of foreign banks might also, therefore, no longer yield any advantage in terms of financial institution profitability. This result is robust to the use of regulate- local measures whilst endogeneity concerns are controlled for. Furthermore, the findings imply that the stock liquidity issue of profits management is undoubtedly associated with future stock returns in Chinese corporations. Our outcomes reveal that the inventory liquidity thing of quick- termism in managerial choices performs a crucial role in figuring out destiny inventory returns.","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"73 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80533755","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 research investigates the discourse and practice of Agency Theory (AT) in the selected public-sectors of Ethiopia. The Agency Theory is assumed to bring about efficiency and accountability of the public-sector by adopting a contract and Pay-for-Performance (PFP) scheme; however, performance and citizens-cum-customers satiety was not improved as envisioned. Thus, to investigate this problem, the researcher has employed the mixed methods approach and, hence the cross-sectional design, where data has been collected at a point in time from selected public-sector employees to respond to the research problem and questions. To gather data, measurement scales like Binary and Likert Scales and research instruments like Self-Completion Questionnaires (SCQ), Semi-Structured Interviews (SSI), and Secondary Sources (SS) have been carried out at different tiers of government. The results indicated that the complex contexts like “Diverse Objectives, Public Values, and Diffuse Power” in the selected public-sectors required the co-existence of different initiatives and approaches based on what works and what does not work standard. Therefore, this study recommended adopting the home-grown reform system: The needed competencies that include the Traditional Public Administration (TPA), New Public Management (NPM), or Public Service Motivation (PSM) in the selected public-sectors based on the fitting contexts could increase the likelihood of performance enhancement.
{"title":"Agency Theory: Its Discourse and Practice in the Selected Public-Sectors","authors":"Benegrew Walie Mengiste","doi":"10.56556/jssms.v1i4.342","DOIUrl":"https://doi.org/10.56556/jssms.v1i4.342","url":null,"abstract":"This research investigates the discourse and practice of Agency Theory (AT) in the selected public-sectors of Ethiopia. The Agency Theory is assumed to bring about efficiency and accountability of the public-sector by adopting a contract and Pay-for-Performance (PFP) scheme; however, performance and citizens-cum-customers satiety was not improved as envisioned. Thus, to investigate this problem, the researcher has employed the mixed methods approach and, hence the cross-sectional design, where data has been collected at a point in time from selected public-sector employees to respond to the research problem and questions. To gather data, measurement scales like Binary and Likert Scales and research instruments like Self-Completion Questionnaires (SCQ), Semi-Structured Interviews (SSI), and Secondary Sources (SS) have been carried out at different tiers of government. The results indicated that the complex contexts like “Diverse Objectives, Public Values, and Diffuse Power” in the selected public-sectors required the co-existence of different initiatives and approaches based on what works and what does not work standard. Therefore, this study recommended adopting the home-grown reform system: The needed competencies that include the Traditional Public Administration (TPA), New Public Management (NPM), or Public Service Motivation (PSM) in the selected public-sectors based on the fitting contexts could increase the likelihood of performance enhancement. ","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"28 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81332622","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}
Faheem Khan, M. J. Siraji, Q. Zaman, Zafrullah Khan Khattak, Qaisar Anwar, Asif Minhas
The current study was aimed to investigate the relationship between principals’ human skills and job satisfaction of secondary school teachers with mediating role of school climate. A sample of 271 Secondary School Teachers (SSTs) was selected through stratified sampling method. A questionnaire was developed for data collection purpose. Pearson-Product Correlation and mediation analysis was used. The results of the study indicated that school climate partially mediated in the relationship between principals’ human skills and teacher’ job satisfaction. The study recommended that school principals may emphasis and develop their human skills.
{"title":"Relationship Between Principals’ Human Skills and Job Satisfaction of Secondary School Teachers with Mediating role of School Climate","authors":"Faheem Khan, M. J. Siraji, Q. Zaman, Zafrullah Khan Khattak, Qaisar Anwar, Asif Minhas","doi":"10.56556/jssms.v2i1.326","DOIUrl":"https://doi.org/10.56556/jssms.v2i1.326","url":null,"abstract":"The current study was aimed to investigate the relationship between principals’ human skills and job satisfaction of secondary school teachers with mediating role of school climate. A sample of 271 Secondary School Teachers (SSTs) was selected through stratified sampling method. A questionnaire was developed for data collection purpose. Pearson-Product Correlation and mediation analysis was used. The results of the study indicated that school climate partially mediated in the relationship between principals’ human skills and teacher’ job satisfaction. The study recommended that school principals may emphasis and develop their human skills.","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78312941","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}
Despite the strong growing popularity of Asset Pricing Models, it is difficult to estimate which factor contributes significantly in explaining average excess portfolio returns particularly in emerging equity market. Using an extensive sample over Jan-1994-Dec-2020 period, this paper aims to extend the literature by augmenting Tobin-Q adjusted risk premium with various unconditional standard asset pricing models which seeks to postulate the nexus between expected portfolios stock returns and risk-factors using monthly data of 521 enlisted financial and non-financial firms from Pakistan Stock Exchange. The multiple time-series OLS regression analysis models are employed to analyze Tobin-q risk-factor augmented with various factors models. Fama and French (2015) five-factor model excessively explains average equity returns however, our results reveal that size, value, profitability and particularly Tobin-q factor are significant while market and investment factor are redundant in Pakistan Stock Exchange. The momentum factor shows weak results in describing average equity returns in the market. Based on Gibbons, Ross and Shanken (1989) test, our findings support Tobin-Q augmented Fama and French (2015) five-factor model as appropriate for pricing stocks returns in emerging market of Pakistan. The investors, portfolio managers and policy-makers should assume the Tobin-q factor while constructing diversified portfolios for investments in Pakistan Stock Exchange
{"title":"An empirical investigation of Tobin’s-Q augmented various Asset Pricing Models: Evidence from Pakistan","authors":"M. Azam","doi":"10.56556/jssms.v1i4.293","DOIUrl":"https://doi.org/10.56556/jssms.v1i4.293","url":null,"abstract":"Despite the strong growing popularity of Asset Pricing Models, it is difficult to estimate which factor contributes significantly in explaining average excess portfolio returns particularly in emerging equity market. Using an extensive sample over Jan-1994-Dec-2020 period, this paper aims to extend the literature by augmenting Tobin-Q adjusted risk premium with various unconditional standard asset pricing models which seeks to postulate the nexus between expected portfolios stock returns and risk-factors using monthly data of 521 enlisted financial and non-financial firms from Pakistan Stock Exchange. The multiple time-series OLS regression analysis models are employed to analyze Tobin-q risk-factor augmented with various factors models. Fama and French (2015) five-factor model excessively explains average equity returns however, our results reveal that size, value, profitability and particularly Tobin-q factor are significant while market and investment factor are redundant in Pakistan Stock Exchange. The momentum factor shows weak results in describing average equity returns in the market. Based on Gibbons, Ross and Shanken (1989) test, our findings support Tobin-Q augmented Fama and French (2015) five-factor model as appropriate for pricing stocks returns in emerging market of Pakistan. The investors, portfolio managers and policy-makers should assume the Tobin-q factor while constructing diversified portfolios for investments in Pakistan Stock Exchange","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89310751","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 paper focuses on the effect of terrorism on stock returns in Pakistan by taking into account major incidents, mainly the Peshawar School Massacre. Structured approach of Grounded Theory by (Corbin and Strauss 1990) and (Strauss and Corbin 1998) has been used as Grounded Theory is based on data and its constructs do not face the problem of accuracy that plagued the other Qualitative Data Analysis methods. Data have been collected primarily through interviews. The theory developed around the central category or the central phenomenon: feelings of insecurity among investors. The strategies developed for coping with the overarching phenomena are past experience, financial soundness of organizations, previous worth of the company, asset holding for a longer period and togetherness among nation. Overall, there was stability in stock prices, improved confidence of investors and outperforming of shares. This study is distinctive in examining the coping strategies from the perspective of investors who experienced the impact on stock prices of the occurrence of terrorist attacks.
本文通过考虑重大事件，主要是白沙瓦学校大屠杀，重点研究恐怖主义对巴基斯坦股票收益的影响。(Corbin and Strauss 1990)和(Strauss and Corbin 1998)的扎根理论的结构化方法已被使用，因为扎根理论是基于数据的，其结构不面临困扰其他定性数据分析方法的准确性问题。数据主要是通过访谈收集的。这个理论是围绕着一个中心范畴或中心现象发展起来的:投资者的不安全感。为应对首要现象而制定的策略是过去的经验、组织的财务健全性、公司的以前价值、长期资产持有以及国家之间的团结。总体而言，股价稳定，投资者信心增强，股票表现优异。本研究的独特之处在于从经历过恐怖袭击对股价影响的投资者的角度来考察应对策略。
{"title":"Terrorism and Uncertainty among Investors: the case of Peshawar School Massacre","authors":"Seema Rehman, Zaki Rashidi","doi":"10.56556/jssms.v1i4.257","DOIUrl":"https://doi.org/10.56556/jssms.v1i4.257","url":null,"abstract":"This paper focuses on the effect of terrorism on stock returns in Pakistan by taking into account major incidents, mainly the Peshawar School Massacre. Structured approach of Grounded Theory by (Corbin and Strauss 1990) and (Strauss and Corbin 1998) has been used as Grounded Theory is based on data and its constructs do not face the problem of accuracy that plagued the other Qualitative Data Analysis methods. Data have been collected primarily through interviews. The theory developed around the central category or the central phenomenon: feelings of insecurity among investors. The strategies developed for coping with the overarching phenomena are past experience, financial soundness of organizations, previous worth of the company, asset holding for a longer period and togetherness among nation. Overall, there was stability in stock prices, improved confidence of investors and outperforming of shares. This study is distinctive in examining the coping strategies from the perspective of investors who experienced the impact on stock prices of the occurrence of terrorist attacks. ","PeriodicalId":29810,"journal":{"name":"Journal of Social Sciences and Management Studies","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86722803","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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