Business Commons^™

Impact Of Psychological Factors On Investment Decision Making Mediating By Risk Perception: A Conceptual Study, Lubna Riaz, Ahmed Imran Hunjra, Rauf I. Azam

Ahmed Imran Hunjra (PhD)

Every individual is different from others due to various factors which include demographic factors, age, race and sex, education level, social and economic background; same is the situation with the investors. The most critical challenge faced by them is the investment decision; they act in a rational manner and usually follow their instincts and emotional biases while making investment decisions. The investigation of previous studies reveals the importance of various psychological factors which affect their investment decision. Keeping this in view, a study model has been developed to describe the impact of risk propensity, asymmetric information and problem framing on …

Urgensi Penghematan Energi Dalam Mewujudkan Kestabilan Perekonomian Indonesia, Zulkifli Rangkuti Dr.

Zulkifli Rangkuti

No abstract provided.

Negotiating Executive Compensation In Lieu Of Regulation, Urska Velikonja

Urska Velikonja

No abstract provided.

Factors Affecting Investment Decision Making Of Equity Fund Managers, Salman Ali Qureshi, Kashif Ur Rehman, Ahmed Imran Hunjra

Ahmed Imran Hunjra (PhD)

Traditional theories of finance assume that investors use all available information and make rational investment decision but in reality the scenario is different. Based upon the growing importance of behavioral finance the present study is an attempt to investigate the effect of behavioral factors such as heuristics, risk aversion, use of financial tools and firm level corporate governance on the decision making of equity fund managers of Pakistan. The study collected response from 327 equity fund managers of insurance companies, commercial banks, and equity investment companies applying stratified random sampling technique. The results of the study demonstrate that a positive …

The Effect Of Corporate Governance Variables On Share Price: A Comparison Of “A Class” And “B Class” Shares In The People's Republic Of China, Kevin Jih, Simone Kelly, Ray Mcnamara

Ray McNamara

This paper examines the interaction between corporate governance and earnings as they affect market performance. The research focuses on Chinese capital markets because of their unique characteristics with respect to elements of corporate governance. Specifically, Chinese companies may issue A-shares to Chinese citizens or B-shares to foreign investors and overseas Chinese or Chinese citizens with foreign currency. B-shares produce reports based on International Accounting Standards, have an independent board structure, and use international recognised auditor. Companies with A-shares only use Chinese Accounting Standards, do not have independent boards of directors and use Chinese auditors operating under Chinese audit standards.The differences …

The Effect Of Corporate Governance Variables On Share Price: A Comparison Of “A Class” And “B Class” Shares In The People's Republic Of China, Kevin Jih, Simone Kelly, Ray Mcnamara

Simone Kelly

This paper examines the interaction between corporate governance and earnings as they affect market performance. The research focuses on Chinese capital markets because of their unique characteristics with respect to elements of corporate governance. Specifically, Chinese companies may issue A-shares to Chinese citizens or B-shares to foreign investors and overseas Chinese or Chinese citizens with foreign currency. B-shares produce reports based on International Accounting Standards, have an independent board structure, and use international recognised auditor. Companies with A-shares only use Chinese Accounting Standards, do not have independent boards of directors and use Chinese auditors operating under Chinese audit standards.The differences …

Governance And Corporate Control: Compliments Or Substitutes, Atreya Chakraborty

Atreya Chakraborty

In this paper we test for the motives for adopting golden parachutes and Anti Takeover Amendments (ATAs). Firms that exhibited financial characteristics that were associated with a greater probability of hostile raids were also more likely to adopt golden parachutes or ATAs. We also find evidence to support the hypothesis that the adoption of golden parachutes and poison pills may in fact be complement each other.

Effectiveness Of Event Risk Covenants In High Yield Bonds: Evidence From Long-Run Stock Performance, Manish Tewari

Manish Tewari

We examine the post-issue long-run performance of the common stock of the firms issuing nonconvertible high yield bonds with event risk covenants (ERCs) over the period five years after the issue date. Using Fama French (1993) four factor regression model to analyze a sample of 217 issues issued between 1986 and 2004, we find statistically and economically significant monthly average abnormal returns between 0.36% and 0.55%, which compounds to 24% to 39% over the five year period. The evidence suggests strong long-run overperformance after the issuance. This result is in contrast to the evidence of underperformance after the straight debt …

Cause Related Marketing And Its Impact On Sales: Mediating By Brand Loyalty And Customer Purchase Intention, Ahmed Imran Hunjra, Rauf I. Azam, Asad Afzal Humayoun

Ahmed Imran Hunjra (PhD)

The objective of this study is to test CRM and sales in their direct relation and examine the impact of CRM campaigns on brand loyalty, consumer purchase intention and ultimately on sales. The questionnaire was distributed among students and employees at different universities and organizations. This study concludes that cause related marketing campaigns have positive influence on sales activities of companies. This link is also mediated by brand loyalty and consumer purchase intention that eventually have positive effect on sales.

The Impact Of Trust And Cabin Crew Performance On Customers’ Satisfaction, Nadeem Safwan, Ahmed Imran Hunjra, Mohammad Ashfaq, Syed Qasim Haroon Naqvi

Ahmed Imran Hunjra (PhD)

In this research, the case of AIRBLUE has been taken to examine what people think about its performance, whether they trust this airline or not, and are they satisfied or not? Further, this study measures the impacet of cabin crew performance and trust on customer satisfaction. The data was collected by distributing questionnaires to the domestic travelers of AIRBLUE. The sample size of the research was of 180 people. The result shows that majority of people are satisfied with the performance of AIRBLUE and they trust on its service, but at the same time they have positive expectation that AIRBLUE …

Marketing Ethics And Pharmaceutical Industry, Khurram Mirza, Majed Rashid, Ahmed Imran Hunjra

Ahmed Imran Hunjra (PhD)

Does marketing practices of pharmaceutical companies in developed and third world countries are same? This book gives a perspective of Unethical Marketing and Promotional activities done by Pharmaceutical Companies.Pharmaceuticals internationally are under scrutiny, for conducting their business on high ethical grounds but this would seem to be a wild goose chased, when we actually evaluate the business conduct of those organizations in developing countries. There is a substantial difference of ethical conduct in doing business in third world countries like Pakistan. In this book the author tries to elaborate these differences for understanding the Unethical Marketing and Promotion of Pharmaceutical …

Investment Appraisal Techniques And Constraints On Capital Investment, Ahmed Imran Hunjra, Iram Batool, Ghulam Shabbir Khan Niazi, Ijaz Ur Rehman

Ahmed Imran Hunjra (PhD)

The objective of this study is to determine the level of application and perception of finance executives and analysts regarding the investment appraisal techniques in Pakistani corporate sector in the light of theory. This study also investigates the major constraints on capital investment. Total 63 questionnaires were distributed in different cities of Pakistan (Islamabad, Rawalpindi, Lahore, Multan and Faisalabad) but only 37 properly filled questionnaires were processed; the potential respondents were the finance executives and Chief Financial Officers (CFOs) of the companies. The companies listed at KSE related to ten leading sectors were the population of this study. It is …

Individual Investors Perception Of Dividends: Pakistan's Perspective, Muhammad Naeem Akhtar, Ahmed Imran Hunjra, Arifa Andleeb, Babar Zaheer Butt

Ahmed Imran Hunjra (PhD)

This research paper argue that there exists a strong preference for dividends among investors. The main purpose is to find the factors that lead individual investors to reveal their preference for either cash or stock dividends. The most important dividend theories are employed to test the behavior of Pakistani individual investors towards dividends. The results reveal strong evidence that individual investors in Pakistan want dividends either in the form of cash or stocks. They also have a strong preference for dividend even if a company has to pay it by borrowing.

Long Run Relationship Between Poverty And Macro-Economic Variables In Pakistan, Muhammad Naeem Akhtar, Ahmed Imran Hunjra, Nadeem Safwan, Abrar Ahmad

Ahmed Imran Hunjra (PhD)

This research study examines the long run relationship between poverty and economic indicators in Pakistan. Data from 1972 to 2010 is used to analyze the relationship between various economic variables and poverty. The economic indicators include; consumer price index, literacy rate and population growth. Head count rate is used to measure poverty. The statistical techniques used include unit root Augmented Dickey Fuller test (for checking the stationary data) & Johansen’s co-integration test for long run relationship. The study found co-integration between all the economic factors and poverty, which means that economic performance indicators are pertinent predictors of poverty. This can …

Determinants Of Financial Management Practices: A Conceptual Study, Ahmed Imran Hunjra, Jamshed Iqbal

Ahmed Imran Hunjra (PhD)

The purpose of this study is to investigate various factors (uncertainty, corporate social disclosure and stakeholder) that impact the selection of financial management practices. Further, this study attempts to explore the impact of financial management practices and earnings management on firm performance. In order to achieve the objective, a conceptual model has been developed based on previous theories and empirical literature. The findings of the study would be quite beneficial for capital providers – lenders and shareholders – who would like to use their funds for financial practices. On the other hand, capital providers will be hesitant to provide capital …

Relationship Between Decision Making Styles And Consumer Behavior, Ahmed Imran Hunjra, Ghulam Shabbir Khan Niazi

Ahmed Imran Hunjra (PhD)

The objective of this study is to identify different factors that impact consumer behavior on the basis of a decision making style. The sample size of this study was 250 questionnaires. Correlation and multiple regression were performed to measure the relationship between independent and dependent variables. This study concludes there is a significant relationship between male and female decision making style and female respondents are more likely to assert that decision making styles influence consumer behavior. All the independent variables have significant positive relationship with consumer behavior.

Service Quality, Customer Satisfaction And Loyalty: An Empirical Analysis Of Banking Sector In Pakistan, Mohsin Zafar, Sana Zafar, Aasia Asif, Ahmed Imran Hunjra, H. Mushtaq Ahmad

Ahmed Imran Hunjra (PhD)

Effective Advertising And Its Influence On Consumer Buying Behavior, Ghulam Shabbir Khan Niazi, Javaria Siddiqui, Burhan Ali Shah, Ahmed Imran Hunjra

Ahmed Imran Hunjra (PhD)

Advertising is a way of communication to convince an audience for taking purchase decision about a product or service and delivering information to viewers. This paper examines the relationship between environmental response and emotional response which are independent variables with dependent variable i.e. consumer buying behavior. This research investigates the relationship between the variables involved, by taking the 200 responses in twins’ cities of Pakistan. Findings of this study show the moderate relationship between independent variables and dependent variable. It shows that consumer purchase those brands from which they are emotionally attached. This study reports new results in the field …

Singapore Airlines: Price Effects Of Restriction On Foreign Ownership, Swee Sum Lam, Francis Koh, Yuen Kin Chia

Francis Koh

No abstract provided.

The Risk And Price Performance Of New Equity Issues In Singapore, Francis Koh, Simon Tee

Francis Koh

No abstract provided.

The Growth Of Singapore Companies, Francis Koh, W. Kwok

Francis Koh

No abstract provided.

Synergistic Gains From Corporate Acquisitions And The Impact On Shareholders' Wealth, Francis Koh, Kok Fai Phoon

Francis Koh

No abstract provided.

Capital Structure Behaviour Of Firms In Singapore: An Empirical Analysis, Francis Koh, Kok Fai Phoon

Francis Koh

No abstract provided.

An Empirical Study Of Abnormal Dollar Returns From Corporate Takeovers, Francis Koh, Soo-Hoon Lee

Francis Koh

No abstract provided.

The Enlightenment And The Financial Crisis Of 2008: An Intellectual History Of Corporate Finance Theory, James R. Hackney Jr.

James R. Hackney Jr.

This article examines the financial crisis of 2008 and connections to corporate finance theory. The financial products and deregulation that led to the crisis were informed by corporate finance theories. These theories include diversification, the capital asset pricing model, and options theory. The theories have a scientific basis but can get deployed (in the form of financial product presentation or policy justification) in ways that deviate from the scientific articulation. The article provides an intellectual history of mainstream corporate finance theory and argues that it, despite the consequences of its misuse, is a valuable scientific achievement and even arguments for …

A Vision And Method In Studying Abdul-Wahab El-Bayyati Poetry, Philadelphia University

Philadelphia University, Jordan

No abstract provided.

Corporate Strategy, Analyst Coverage, And The Uniqueness Discount, Lubomir Litov, Todd Zenger, Patrick Moreton

Lubomir P. Litov

No abstract provided.

The Impact Of Internet-Based Services On Credit Unions: A Propensity Score Matching Approach, Elisabeta Pana, Sascha Vitzthum, David Willis

Elisabeta Pana

Credit unions focus their profit and capital management on the tradeoff between providing immediate financial benefits to members and augmenting their institutional well-being through capital accumulation. In this study, we investigate the changes in benefits to credit union members via the interest-rate spread around the adoptions of internet-based services for the period of 2000–2009. Using the propensity score matching method, we show that adopters offer a less favorable interest-rate spread to their members than non-adopters. However, we find evidence that early adopters have a lower degree of market power in dealing with their members than late adopters and offer interest-rate …

Governance-Default Risk Relationship And The Demand For Intermediated And Non-Intermediated Debt, Safdar Khan

Safdar Khan

No abstract provided.

Fundamentals Of Investments: Valuation And Management, Steven Dolvin, Bradford Jordan, Thomas Miller

Steven D. Dolvin