Finance and Financial Management Commons^™

Islamic Banks' Decomposed Financing And Industrial Output Growth In Pakistan, Sadia Yasmin, Mohammad Ayaz Dr

Business Review

Abstract

Finance is considered as "the lifeblood of an economy" and imperative to a country's growth and stability. However, this perception has been called into two propositions, "More finance more growth "and "Does too much finance harm economic growth”? Existing literature considered only a single indicator i.e. total financing, assuming all financing has the same effect on growth. Furthermore, these studies also overlooked the nonlinear dynamics of Islamic decomposed financing and sectoral growth. As the composition of every economic sector is different, therefore financing can impact differently. This gap is covered in this study by decomposing Islamic financing into Islamic …

A Better Model? Testing Of Fama And French Six-Factor Model In Pakistan, Mehak Younus

Business Review

This study examines the performance of the Fama and French six factor model and the alternative six-factor model in explaining anomalous return patterns using a broad sample of the Pakistani stock market from 2000 to 2017. This study is the first to test the applicability of these models in Pakistan and their performance in explaining anomalous returns. There are 11 anomalies taken, which proved to be significant in the Pakistani market. The GRS test is used with other time-series measures to check the power of the given models in explaining one-way sorted quintile portfolios. The results reveal that both models …

Wealth Effect Of Mergers & Acquisitions In Emerging Market: A Case Of Pakistan’S Banking Sector, Sana Tauseef, Mohammad Nishat

Business Review

This study investigates the short-term market response associated with the announcement of seven merger and acquisition deals in the banking sector of Pakistan during the period 2003 to 2008 using the event study methodology. The results indicate statistically significant investor reactions around the merger announcements. For individual target and bidder banks, the cumulative abnormal returns (CARs) range from significant positive to significant negative. The combined mean CAR for the bidder group is significant positive and for target group, the mean CAR is significant negative. The mean CAR for the combined banks in the domestic mergers is also positive but is …

Panel Data Models: An Appraisal Of Lead-Lag Relation In The Kse-30, Muhammad Ayub Siddiqui

Business Review

The lead-lag relation between index futures and the underlying index has been at the core of discussion of the researchers in the developing and the developed world. This study examines the lead-lag relationship between spot and future prices of 21 companies from the KSE-30 Index for the monthly data of the period from October 2004 to February 2008. It applies panel data estimation techniques of common constants, fixed effects and random effects. These estimations are considered to be the most recent and efficient analytical methods in handling econometric data. The data is balanced; therefore, no additional assumption has been employed. …