Lahore School of Economics

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Lahore Journal of Economics (January - June 2015)

In the first article published in this issue of the Lahore Journal of Economics, titled “Private School Participation in Pakistan, Quynh T. Nguyen and Dhushyanth Raju of the World Bank look at the extent and nature of private school participation at the primary and secondary levels in Pakistan. The authors find that private school students tend to come from urban, wealthier, and better-educated households than government school students. They also find that the characteristics of private school students relative to their government school peers and the former’s composition differ in important ways across Pakistan’s four provinces. Also, private school participation among children varies largely from one household to another rather than within households, and to a greater extent than government school participation. Private schooling is spatially concentrated, with a few districts (situated mainly in northern Punjab) accounting for most private school students. The spatial distributions of private school supply and participation are strongly correlated. In the 2000s, private school participation rates grew in Punjab, Sindh, and Khyber Pakhtunkhwa and across socioeconomic subgroups, contributing in particular to the growth in overall school participation rates for boys, urban children, and rich children. Nevertheless, the composition of private school students has become more equitable, driven mainly by Punjab, where the shares of private school students from rural and nonrich households have risen.

In the second article, “Migration, Remittances, and Household Welfare: Evidence from Pakistan,” Masood Sarwar Awan, Mohsin Javed, and Muhammad Waqas conducted a survey to examine the transaction costs and household-level benefits of overseas remittances in Toba Tek Singh, Pakistan. The authors find that overseas migration has substantial benefits as measured by migrants’ consumption levels, their expenditures on health, education, and vehicles, and the level of household savings.

In the third article by Sadia Shabbir and Hafiz M. Yasin, title “ Implications of Public External Debt for Social Spending: A Case Study of Selected Asian Developing Countries," the authors his examine the behavior of seven developing Asian countries and analyze the impact of public external debt on social sector spending. Their analysis includes data on Pakistan, India, Bangladesh, Sri Lanka, Nepal, the Philippines, and Indonesia, and spans the period 1980–2010. The authors confirm the common wisdom that outstanding external debt and its servicing liability have an adverse impact on public spending, particularly on social sector spending.

In the fourth article, titled “Relative Factor Abundance and Relative Factor Price Equality in Punjab,” Resham Naveed tests whether there is relative factor price equality across districts in Punjab using data from the Census of Manufacturing Industries for 2000/01 and 2005/06. The paper finds that an absence of relative factor price equalization due to the uneven distribution of factors in the province. The author finds that non-production (white-collar) workers) are relatively scarce in Punjab, which results in a wage premium for this type of labor. The author also adjusts her analysis for worker quality and finds similar results, implying that factors are distributed unevenly across the districts of Punjab.

In the fifth article by Aysha S. Latif and Fahad Abdullah, titled “The Effectiveness of Corporate Governance in Constraining Earnings Management in Pakistan,” the authors investigate the effectiveness of three attributes of corporate governance in constraining earnings management practices. The authors include board characteristics, audit committee characteristics, and ownership structure in their analysis. Using a sample of 120 nonfinancial firms listed on the Karachi Stock Exchange during 2003–12m the authors find that audit committee independence is negatively associated with earnings management, while CEO duality and institutional shareholding is positively associated with earnings management. The authors also find that the effectiveness of governance mechanisms in constraining earnings management practices differs across high and low growth firms.

In the final article of the January-June 2015 issue of the Lahore Journal of Economics, Khurram Shahzad looks at the Pakistani textile sector. In his paper, titled “An RCA Analysis of Textiles and Clothing in Pakistan, India, and Bangladesh,” the author performs a revealed comparative advantage analysis for Clothing and Textile sectors of Pakistan, India and Bangladesh. The author’s results show Pakistan’s highest revealed comparative advantage for textiles over both India and Bangladesh. The author also finds that India has a revealed a comparative disadvantage in textile in competition of Pakistan and Bangladesh. Furthermore, for clothing, Bangladesh has very dominant revealed comparative advantage when competing with Pakistan and India. The author’s results also show that Pakistan has been gaining a comparative advantage in textiles since 1980 but with a declining percentage of textile exports and that Bangladesh has significantly gained a comparative advantage in clothing since the 1980s.

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posted by S A J Shirazi @ 7/29/2015 09:56:00 AM,

Lahore School of Economics Quality Enhancement Cell

The Lahore School of Economics reconstituted its Quality Enhancement Cell (QEC) on June 04, 2015. The following are the members of the reconstituted QEC:
  1. Dr. Azam Chaudhry, Professor and Dean, Department of Economics and Head QEC
  2. Ms. Amberin Tanveer, Deputy Registrar and Director, QEC
  3. Ms. Mamoona Nazeer, Senior Assistant Registrar and Deputy Director, QEC
  4. Ms. Sehrish Khan, Assistant Registrar and Assistant Director, QEC
  5. Ms. Rabia Rauf, Assistant Registrar and Assistant Director, QEC
Membership of International Bodies:
The Lahore School of Economics has acquired memberships of the following International Bodies:
  1. Asia Pacific Quality Network
  2. International Network for Quality Assurance Agencies in Higher Education
  3. Association of Quality Assurance Agencies of the Islamic World
Events, Seminars and Conferences attended and participated:
  1. Director QEC attended a workshop organized by QAA, HEC in Islamabad, on “ Role of QECs in Quality Assurance”, January 22-23, 2015
  2. Director QEC attended the Asia Pacific Quality Network conference and Annual General Meeting at Kunming, China, April 17-19, 2015
  3. IOBM, Karachi hosted a seminar on “Sharing Practices on Student Support and Advising”, Criterion of the HEC SAR on June 10, 2015, which was attended and participated by Director, QEC.
The Lahore School’s Self Assessment Process during 2014-15 was as follows:
  1. BBA (Hons.) with Major in Marketing and Minor in Media Studies
  2. BSc. (Hons.) with Major in Economics and Minor in Mathematics and Statistics
  3. BBA (Hons.) with Double Major in Finance and Marketing

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posted by S A J Shirazi @ 6/29/2015 02:31:00 PM,

Pre-requisites for corporate careers

Mr. Adeel Anwar, Director Organizational Excellence, Warid Telecom, was in Lahore School of Economics on June 18, 2015 to deliver a lecture to the graduating MBA class.

The speaker enlightened the students on the pre-requisites for corporate careers. He said that in order to achieve a good career one should have soft skills such as integrity, fair mindedness, a persuasive and congenial personality, ability to cope with conflicting point of view, function under pressure and demonstrate discretion. While talking about hard skills he said basic skills such as core computer proficiency, high impact written and oral communication skills, and incisive analytical skills were very important.
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posted by S A J Shirazi @ 6/29/2015 10:57:00 AM,

Dare to dream

Mr. Adeel Hashmi, CEO of Lightstorm communications came to Lahore School of Economics on June 23, 2015 to deliver a lecture to the students of the undergraduate programme on taking risks in life and plunging into whatever you are passionate about.

In his talk Hashmi emphasized how youth can be ones biggest asset.“Dare to dream”, he stressed should be your ally. He also talked about the Hollywood film, ‘The Firm’ and believed that is how one’s life is (if he/she does whatever the world expects of him/her). After a certain age you are stuck doing what you started and don’t like. Therefore, he concluded meaningfulness in career choices in life is very important.
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posted by S A J Shirazi @ 6/29/2015 09:08:00 AM,

How to operate and build brands

Mr. Usman Shahid, Brand Head, Pepsico, visited the Lahore School of Economics on June08, 2015 to deliver a lecture to the graduating MBA class. The topic of discussion was how to operate and build brands. After his past experiences and explaining the techniques used by PepsiCo and other FMCGs, Mr. Shahid shared the story of Mountain Dew.

Mountain Dew had a unique positioning, one which differed from all the other brands in Pakistan. How it linked all its consumer touch points and its positioning. Mr. Usman stated that it was Mountain Dew’s effective brand building that had enabled it to compete with products that were over 50 years old.


posted by S A J Shirazi @ 6/24/2015 12:38:00 PM,

Career prospects

Mr. Haroon Waheed, HR Head Fatima Group, was in Lahore School on June 11, 2015 to to deliver a lecture on career prospects to the graduating MBA class.

In his lecture Mr. Waheed discussed in detail how a graduate should market himself for a job. He asked the students whether they would want to work for personal satisfaction or money. According to the speaker the first step to success is the hunger for growth and learning. One should always be eager for success and should not look for short cuts.
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posted by S A J Shirazi @ 6/24/2015 12:37:00 PM,

Career choices and expectations of the corporate sector from fresh graduates

Mr. Wasif Waseem Ashraf, CEO and founder of 360d Consulting, was invited to the Lahore School of Economics on June 12, 2015 to deliver a talk on career choices and expectations of the corporate sector from fresh graduates, to the graduating MBA class.

In his presentation Mr. Ashraf gave the students some very useful tips as to how a candidate could fetch an interview call and how a resume he said opened the door to opportunities and was used as a marketing tool by painting a positive and factual picture of a person.
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posted by S A J Shirazi @ 6/24/2015 12:37:00 PM,

Supply Chain

Mr. Sohail Butt, Head of Supply Chain at Nestle visited the Lahore School of Economics on June 15, 2015 to give a lecture on “Supply Chain” to the graduating MBA class. In his lecture Mr. Butt explained the importance of supply chain for an organization.

He said that procurement was very important in supply chain. He then explained inventory and its role in the supply chain. Explaining more in dept he gave examples of the supply chain of some big names like iPhone, Zara Clothing and different milk brands that were available in Pakistan.


posted by S A J Shirazi @ 6/24/2015 12:37:00 PM,


Mr. Bilal Khalid Khan, Director Advisory – Frants and Co. Chartered Accountants was invited to give a talk to the graduating MBA class on budgeting on June 17, 2015.

What budget meant? He said that budgeting was a phase of planning for shorter period of time. Budget he said was very important for all firms as well as for the government as it helped control expenses and maximize the wealth of shareholders. It also helped monitor the inflows and outflows of cash.
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posted by S A J Shirazi @ 6/24/2015 12:36:00 PM,

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