The aim of the study is to find out the determinants of profitability of Pakistan Banking System under democratic and dictatorship regime, i.e. 2006-2008 and 2009-2011 respectively. The authors were taken macroeconomic variables, i.e. GDP, Inflation and Interest Rate and bank-specific variables, i.e. Liquidity, size and capital adequacy as independent variables whereas Return on Asset as the dependent variable. By employing panel regression, the authors found that size has a significant negative relationship with profitability under both regimes. Interest and Liquidity had a positive significant relationship during democratic tenure. However, liquidity had significantly negative relationship between dictatorship duration. The findings will be helpful for the banking sector to make their policies accordingly.
The recent movement of social-investment state encouraged national educational initiatives taken by the policy makers of developed countries to enhance individual's social inclusion for national economic gains. Benefiting from human capital theory, the author has reexamined the indirect effect of nation expenditure of technical and vocational education and training (TVET) on economic growth through social inclusion by isolating the effective key social inclusion dimensions (employment, earnings, and multidimensional poverty) from each other. A 15-year data set, ranging from 2000 to 2014, collected from Organisation for Economic Co-operation and Development (OECD) database of 21 OECD member European countries was used for hypotheses testing. The statistical results obtained through the quadratic indirect effects demonstrate clear support for the entire hypotheses. However, the results demonstrate that the indirect effects decrease as the values of TVET expenditure increases, particularly, when the indirect effect is investigated through the wages or when the overall index value of social inclusion indicators is introduced as a mediator. The study offers some implications for the researchers and the policy makers who are interested in determining the overall effectiveness of human capital development initiatives in the welfare-state/social-investment states.
Purpose The purpose of this study is to examine the accuracy of combined models with the individual models in terms of forecasting Euro against US dollar during COVID-19 era. During COVID, the euro shows sharp fluctuation in upward and downward trend; therefore, this study is keen to find out the best-fitted model which forecasts more accurately during the pandemic.
Design/methodology/approach The descriptive design has been adopted in this research. The three univariate models, i.e. autoregressive integrated moving averages (ARIMA), Naïve, exponential smoothing (ES) model, and one multivariate model, i.e. nonlinear autoregressive distributive lags (NARDL), are selected to forecast the exchange rate of Euro against the US dollar during the COVID. The above models are combined via equal weights and var-cor methods to find out the accuracy of forecasting as Poon and Granger (2003) showed that combined models can forecast better than individual models.
Findings NARDL outperforms all remaining individual models, i.e. ARIMA, Naïve and ES. By applying a combination of different models via different techniques, the combination of NARDL and Naïve models outperforms all combination of models by scoring the least mean absolute percentage error value, i.e. 1.588. The combined forecasting of NARDL and Naïve techniques under var-cor method also outperforms the forecasting accuracy of individual models other than NARDL. It means the euro exchange rate against the US dollar which is dependent upon the macroeconomic fundamentals and recent observations of the time series.
Practical implications The findings could help the FOREX market, hedgers, traders, businessmen, policymakers, economists, financial managers, etc., to minimize the risk indulged in global trade. It also helps to produce more accurate results in different financial models, i.e. capital asset pricing model and arbitrage pricing theory, because their findings may not be useful if exchange rate fluctuations do not trace effectively.
Originality/value The NARDL models have been applied previously in different time series and only limited to the asymmetric or symmetric relationships. This study is using it for the forecasting exchange rate which is almost abandoned in earlier literature. Furthermore, this study combined the NARDL with univariate models to produce the accuracy which itself is a novelty. Moreover, the findings help to enhance the effectiveness of different financial theories as well.
The Kashmir issue, a principal reason for rivalry between India and Pakistan, has become the atomic flashpoint and a constant threat to the security of South Asia. The aim of this paper is to highlight the root causes of Kashmir disputes and the major events that contributed towards the Indo-Pak rivalry with respect to Kashmir. The paper highlights present political conditions in the Indian-held Kashmir also shows the role of India, Pakistan, and the United Nations in Kashmir Dispute. In the end, a conclusion is presented for the devalued relations of India and Pakistan in the setting of Kashmir and its effects are analyzed. ; La cuestión de Cachemira, una de las principales razones de la rivalidad entre la India y el Pakistán, se ha convertido en el punto álgido atómico y en una amenaza constante para la seguridad del Asia meridional. El objetivo de este documento es poner de relieve las causas fundamentales de las disputas de Cachemira y los principales acontecimientos que contribuyeron a la rivalidad indo-pakistaní con respecto a Cachemira. El documento pone de relieve las condiciones políticas actuales en la Cachemira controlada por la India y muestra también el papel de la India, el Pakistán y las Naciones Unidas en la controversia sobre Cachemira. Al final, se presenta una conclusión para las relaciones devaluadas de la India y el Pakistán en el escenario de Cachemira y se analizan sus efectos.
Purpose No study examines the role of human resources management (HRM) and information technology (IT) in stimulating supply chain learning (SCL) and operational performance. The purpose of this study is to empirically examine the impact of HRM and IT on SCL (i.e. internal, supplier and customer learning) and operational performance using socio-technical systems theory.
Design/methodology/approach On the basis of data obtained from 213 Chinese manufacturing firms, the authors apply structural equation modeling to test the conceptual model.
Findings This study finds that HRM improves all three dimensions of SCL, whereas IT improves internal and supplier learning only. The authors also observe that internal and customer learning improves operational performance. Supplier learning, on the other hand, has no influence on operational performance.
Practical implications This study offers new guidelines that help managers to better understand how to design sociotechnical systems to improve SCL and operational performance.
Originality/value The results of this study provide a novel framework to recognize linkages between socio-technical systems, SCL and operational performance.
The main aim of this paper is to forecast the future values of the exchange rate of the USD. Dollar (USD) and Pakistani Rupee (PR). For this purpose was used the ARIMA model to forecast the future exchange rates, because the time series was stationary at first difference. Data reported to five years ranging from the first day of April 2014 to 31st March 2019. The results proved that ARIMA (1,1,9) is the most suitable model to forecast the exchange rate. The difference between the forecasted values and actual values are less than 1%; therefore, it was found that the ARIMA is robust and this model will be helpful for the government functionaries, monetary policymakers, economists and other stakeholders to identify and forecast the future trend of the exchange rate and make their policies accordingly. ; info:eu-repo/semantics/publishedVersion
Policymakers use privatization to transform a drowning public sector firm into a profitable institution while ignoring its effects on different organizational members. This study advances HR research on ownership transformation and its human resource implications by exploring potential effects of privatization on changes in perceptions of key HR service providers and service receives (i.e., HR and Non‐HR line managers) about the quality of HR business partnership role. This qualitative investigation is based on in‐depth semi‐structured interviews with eight Non‐HR and three HR line managers of a privatized fertilizer company in Pakistan. We proposed that the transformation of ownership positively affects the line manager's perceptions about strategic partner and change agent role of the HR Function. The line managers' perceptions about the expert administrative role remained almost unaffected, while their perceptions about employee champion role of HR Function are negatively affected after privatization. This study has contributed to the existing knowledge by highlighting the role of ownership transformation, particularly privatization in employees' perceptions about the business partner role of HR Function in a fertilizer firm.
This study examined a moderated mediation model to explain how the indirect effect of transformational leadership (TL) on employees' organizational commitment (OC) via procedural justice (PJ) is moderated by career growth opportunities (CGOs) in organizations. Data were gathered from 265 college faculty members. The results indicate that PJ serves as mediator between TL and OC, and this mediation process is affected by career growth. This research contributes to the leadership, human resource management, and organizational psychology literature by explaining how CGOs may affect the mediating process of PJ through which the relationship between TL and OC is determined. Organizational leaders can take insights from the findings of this study to increase their employees' OC. Theoretical implications and future research directions have been discussed.
