Fifth Annual Business Research Conference on Managing Business in Pakistan
April 18, 2017
21 – 22 April, 2017
Abstracts of paper presentations:
Putting Investors First: Awareness of Investor Rights
Mr. Ashraf Bava, CFA, CEO, Nael Capital and President CFA Society Pakistan
Ashraf Bava’s career spans over 21 years with experience in broking and advisory business. He is currently working as the Chief Executive of Nael Capital (Pvt.) Limited. Before setting up Nael Capital he used to work for Elixir Securities, his last assignment at Elixir was as CEO of the firm. He has served on the boards of Karachi Stock Exchange and National Clearing Company of Pakistan Limited in the year 2011. He also chaired the Trading Affairs Committee of the KSE in the same year and is currently the member of Broker Front Office System (BFOS) committee of the Pakistan Stock Exchange and a nominee Director of SECP on the board of Institute of Financial Markets. He is also serving as a member on the Standards and Practice Council of CFA Institute at global level and also volunteering as a grader for the institute. He has also been associated with World Bank Group in the capacity of a consultant. As an active volunteer of the CFA Society Pakistan he has worked in various volunteer positions and is currently serving on its board as President and Advocacy Chair.
Mutual Funds and Capital Markets – Outlook and Challenges
Mr. Muhammad Asim, CFA, CIO, MCB-Arif Habib Savings and Investments Limited
Abstract
Mutual fund industry in Pakistan has been experiencing enormous growth for the last many years. Mutual funds have also played an important role in formalizing the capital markets and providing resilience and sustainability to it. However, due to the rapidly changing scenario of capital markets in Pakistan owing to the CPEC related impact on different industries and ownership stakes by Chinese investors in Pakistan stock exchange, it is inevitable to see the future outlook and challenges more carefully. This talk will highlight such emerging issues in detail.
Muhammad Asim, CFA serves as the Chief Investment Officer at MCB Arif Habib Savings & Investments Limited since September, 2014. He has been associated with AMC industry since 2005 and started his career as Buy Side Analyst. Also, he has been managing among the most consistent outperforming funds in Equity Funds Category. He has managed funds across various strategies in both active and passive styles in both dedicated core equity and hybrid asset class funds. Mr. Asim is an MBA with majors in Finance from Institute of Business Administration, Karachi. He also holds CFA Charter from CFA Institute, USA. He has also served as Director and Treasurer on the Board of CFA Association of Pakistan.
Collaboration Between Academic and Public Sector Managers – Possibilities within Finance Department, Government of Punjab
Mr. Abdul Rehman Warraich, Debt Management Specialist, Finance Department, Government of Punjab
Abstract
Academics and managers generally have a contemptuous relationship where the academics tend to think of managers as short sighted and lacking in theoretical and conceptual frameworks underlying their jobs and managers tend to think of academics as utopian and impractical. This must change if our society has to progress in a meaningful way. The academics and managers must begin to view each other as potential partners with complementary perspectives and skills.
Abdul Rehman Warraich, CFA, FRM, is a law graduate, CFA charter holder and certified FRM (Financial Risk Manager) with overall experience of more than 21 years including Debt Management, Financial Consulting, Investment Management and Research, Risk Management, Civil Service and Teaching. He started his career in civil service and served the Federal Board of Revenue of Pakistan (as Assistant Commissioner and Deputy Commissioner of Income Tax) for almost ten years before he resigned from civil service and moved into the private sector.As an investment professional, he has worked as Fund Manager, Head of Research, Head of Investments and Chief Investment Officer in two leading Asset Management Companies of Pakistan (NBP Fullerton Asset Management Limited and UBL Fund Managers Limited) and a public sector Pension Fund (Punjab Pension Fund).
He has also worked as Risk Management Specialist and Technical Advisor for Finance Department of Government of the Punjab and advised the government on a variety of financial matters.
He is currently working as Debt Management Specialist and head of Debt Management Unit in Finance Department, Government of the Punjab and advising the government on development of appropriate legal, policy and administrative framework for debt management and development as well as implementation of a debt management strategy which contributes to the economic growth of the province.
Islamic Mutual Funds: An emerging investment product?
Dr. Kumail Rizvi, CFA, FRM, Mr. Mueez Najam Qureshi and Dr. Bushra Naqvi, FRM, Lahore School of Economics and Lahore University of Management Sciences
Abstract
Although the literature on mutual funds considers the possibility of performance differential in Islamic vs conventional funds but some dimensions of this performance differential have largely been ignored. First, it is likely that different styles are responsible of creating performance differential between Islamic and conventional funds. Second, the perceived superior performance of Islamic funds, in terms of risk and return could possibly be driven by differences in the asset management companies and their governance structure. This study fills this void and presents empirical evidence on Islamic mutual funds across multiple asset classes and investment styles for Pakistan. We also try to explore whether the performance differential in funds can be explained by differences in asset management companies (AMCs).
Dr. Rizvi, a chartered financial analyst and certified financial risk manager, has been working as Associate Professor of Finance at Lahore School of Economics since 2012. He has over sixteen years of teaching/ research and administrative experience at several public and private sector institutes. His primary research interests lie in the areas of Strategic Corporate Finance, Investment Valuation, Portfolio Management, Risk Management and Behavioral Finance.
Mueez Najam Qureshi is an MBA from Lahore School of Economics and Manager Sales at Metro Cash and Carry.
Dr. Bushra Naqvi is the Assistant Professor and Convener Finance Group at Suleman Dawood School of Business, Lahore University of Management Sciences where she teaches in the area of Money, Banking and Finance. She is also the member of management committee at Punjab Pension Fund.
Dr. Shaheen Naseer and Dr. Inayat Ullah Mangla, Lahore School of Economics
Abstract
The aim of the study is to analyze the impact of Brexit on Pakistan’s Economy. The objective is to enhance the understanding about how Brexit will affect the functioning of EU and its consequences for developing economies like Pakistan. Using data from relevant sectors the analysis aims to conjecture some tentative implications of this global event for Pakistan’s overall economic performance. Though the full implications of Brexit will only unfold in a long run perspective, we provide an exploratory analysis in terms of speculating the multiplier and the accelerator effect of potential changes in British immigration, agriculture and trade policies on Pakistan’s economy. The bulk of this paper is devoted to assessment of potential negative/positive impact of Brexit on British economy and then a linkage is made to predict its ramifications on Pakistan’s economy. In so doing we explore the post Brexit effect on Pakistan’s economy with emphasis on trade, foreign direct investment, education, migration, and agriculture sector. We predict that Brexit can turn out to be a blessing in disguise for developing countries as Britain adopts a “free trade models’, a more open minded attitude to migration from poor countries and finally adopts “subsidy free agriculture policy” to provide competitive opportunities to developing countries farmers.
Shaheen Naseer is a PhD candidate (ADB) at Erasmus University Rotterdam,The Netherlands and teaching and research fellow at Lahore School of Economics.
Inayat Ullah Mangla is a Professor of Finance at Lahore School of Economics and Professor of Finance Emeritus Department of Finance & Commercial, Law Haworth College of Business Western Michigan University, U.S.A
Rating Methodology for Islamic Financial Instruments (SUKUK)
Mr. Shehzad Saleem, CFA, FCA, Chief Operating Officer, PACRA
Abstract
A sound financial ecosystem is critical for functioning of an economy. It is defined by interaction of providers of funds – savers, users of funds – borrowers, financial institutions, and regulators. This system ensures smooth flow of funds between savers and borrowers; wherein, financial institutions provide platform for their interaction. Regulatory oversight safeguards the sanctity of this system.
Like all systems, financial system has its own set of challenges. The most prominent being “Risk”; the risk that some participant may not be able to meet its commitments. All participants do their best to manage this risk to maximize their return. This is not possible unless we have independent information on this risk. Flow of funds is only possible when the provider of funds has confidence that user of funds will be able to return these in a timely manner and as committed. Ratings help build this confidence. A higher rating means higher likelihood of timely repayment compared to a low rating.
Sukuk is an emerging financial instrument utilized by corporates, financial institutions, and governments across the globe to meet funding requirements. The ability to break this financial instrument (Sukuk) into small pieces that can be offered to multitude of investors makes it attractive for both investors and issuers. Structures may vary. However, underlying commitment remains timely redemption or repayment of the committed amount – original investment and profits. The Rating Methodology of Sukuk firstly bifurcates the Sukuk as Asset based or Asset backed. Each structure is assessed differently. In Asset based Sukuk, major focus is on credit risk of issuer of Sukuk while in Asset backed Sukuk, asset securitization structure is evaluated.
Corporate Governance, Disclosure Quality and Cost of Capital: Evidence from Pakistan
Dr. Safia Nosheen, Mr. Naveed ul Haque, University of Management and Technology
Abstract
The link between disclosure of corporate information and cost of equity of firms is one of the most fundamental issues in finance. This paper aims to examine the relationship between corporate governance, disclosure of quality information and cost of equity of Pakistani listed firms. Using Generalized Methods of Movements (Sys-GMM) model, a sample of 167 non-financial PSX-listed firms for the period of 2011-2015 is analyzed. Sys-GMM estimation is applied to overcome the problem of endogeneity among corporate governance variables. In order to test the robustness of GMM estimations, we compare the results of pooled ordinary least squares (OLS) and fixed effect estimations and finds that OLS and fixed effect model does not overcome the problem of endogeneity and thus gives spurious results. The results of this study show that disclosure quality of financial statements, board size, CEO duality and concentrated ownership are the significant factors to reduce the cost of equity of the Pakistani listed firms as we found a negative relationship with cost of equity. Audit committee independence and audit quality of the firm’s shows positive relationship with the firms cost of equity. Our findings suggest that employing a high-quality auditor and the more independent directors in audit committee of the firm’s results in increased cost of equity for Pakistani listed firms. Furthermore, this study found no significant relationship between independency of the boards and the duration of the authorizations of financial statements by the board of directors.
Dr Safia Nosheenis an Assistant Professor in the department of Finance, School of Business and Economics, University of Management and Technology, Lahore. She is serving the UMT since August 2015. Prior to joining the faculty of UMT she was serving the Management Sciences Department of Baluchistan University of Information Technology and Engineering and Management Sciences. She started her career as academician from Kohat University of Science and Technology in 2003. Dr. Nosheen completed her Doctorate from Asian Institute of Technology Bangkok in December 2013. She obtained her Master degree in Business administration from Asian Institute of Technology Bangkok, in 2009. Her areas of interest are Corporate Governance, Corporate Finance, Islamic Finance, Risk Management and International Finance.
Naveed-Ul-Haq is currently doing MS-Finance from University of Management and Technology, Lahore, Pakistan. Before this he is serving at NADRA for two years and six months. His areas of interest include Corporate Finance, Corporate Governance, and Stock Markets.
Faisal Sajjad Mr. Faisal is currently serving as Lecturer in Department of Finance, UMT Lahore. He got his Master degree in Financial Economics from University of Leicester, United Kingdom which is CFA accredited program. Previously he has achieved Bachelors in Business Administration and opted Finance as Majors Modules. He is teaching Finance modules to Post graduate and under-graduate students. He also carries Internship experience, on his part, in some renowned organizations like Deutsche bank, Pearl Continental Hotel and National Bank of Pakistan. Mr. Faisal is also supervising the thesis of MS Finance students as co-supervisor.
Empirical Analysis of Structural Income Changes in Commercial Banks: A Case of Pakistan
Ms. Ramla Sadiq, Mr. Tahseen Mohsan Khan, Mr. Noman Arshed, University of Management and Technology
Abstract
The purpose of this study is to determine the role of structural income in performance of commercial banks in Pakistan. The sample of the study is all commercial banks operating in Pakistan from 2008 until 2015. The sample is divided into two modes: ownership mode and category mode. We use non-mark-up and mark-up income tendency preference with the change in asset, equity and gross incomeas base. In order to understand this function, this study first analyses the concept of structural income by using two sub-categories: mark-up and non-mark-up income. The study applies the nonlinear approach as measuring tool for low and high performing bank’s profitability structural preference.
Ramla Sadiq is currently an Assistant Professor at the School of Business and Economics, University of Management and Technology. Ramla holds a degree of MBA (Finance) and is currently engaged in teaching courses related to the field of finance. She also conducts research classes and supervises M.Sc. Finance research students in thesis development. Her research interests include corporate finance, investor behavior in risk management, transformations in money and banking, role of accounting policies in financial strategies, corporate innovation and financial impacts, Islamic banking and finance. Her work has been published in national HEC recognized journals, as well as on international platforms. She is currently a PhD scholar, pursuing her research interests in the current challenges and future prospects of banking and finance.
Tahseen Mohsan Khan is currently serving as Assistant Professor at the School of Business and Economics, University of Management and Technology. Tahseen has hand on twenty years financial sector experience in the area of credit management, risk management, bank operations, leasing etc. For the last two decades, has been associated with academia at university level. Specialized subjects of interest and research are Financial Risk Management, International Banking & FOREX Regulations, Credit Management, Anti Money Laundering, Banking Operations, Investments & Portfolio Analysis, Project Appraisal etc. He holds MS degree in Finance. He has research base contributory roles in national HEC recognized journals, as well as on international platforms.
Noman Arshed is currently a lecture at the School of Business and Economics, University of Management and Technology. Noman holds a degree of Master of Science in Economics and Finance from University of Edinburgh and is currently engaged in teaching wide range of courses that includes Microeconomics, Macroeconomics, Business Economics, Development Economics and Research Methodology for Economics and Finance, Econometrics, Industrial Economics, Monetary Economics and Statistics, Applied Econometrics, Impact of National Economics Policy on Business etc. He also conducts research classes and supervises MS Economics students in thesis development. His work has been published in national journals and is currently a PhD scholar with future prospects of banking and finance.
Economic Growth in Turkey: Lessons for Pakistan
Mr. Waqas Munir, FRM, Senior Manager Micro Finance and Corporate (Non-Agri), JCR-VIS Credit Rating Company Pakistan
Abstract
Republic of Turkey has emerged as a major power in the Middle East. With a population of nearly 80 million, the country is located at the junction of Europe and Asia. The country is also a member of the Group of Twenty (G20). Economic headwinds, domestic security concerns and external challenges may be viewed as constraining factors in sovereign risk assessment of the Republic of Turkey; however, country’s inherent economic resilience stems from sustained high domestic demand, ongoing economic reforms and a well-developed social infrastructure. The country’s economic growth presents a learning case study for countries such as Pakistan.
Waqas Munir, FRM, has conducted risk assessment of some of the leading conglomerates both local and international including sovereign ratings of Turkey. At JCR-VIS, Mr. Munir covers more than 50 rating assignments in a year and supervises a team of analyst at company’s Lahore office. He is also the voting member of the rating committee at JCR-VIS, a body which makes all rating decisions.
He completed his post graduate degree in Finance (With Distinction) from Manchester Business School, University of Manchester, UK where he was awarded the MSc. Finance prize by the Dean, Manchester Business School. He is a Financial Risk Manager-Certified by Global Association of Risk Professional, USA. He is also a lead assessor by Smart Campaign and a certified social auditor by CERISE. Recently, Mr. Munir has been awarded the prestigious Humphrey Fellowship by United States Education Foundation in Pakistan for conducting research in the field of credit ratings at the University of Boston.
Modern Business Intelligence
Mr. Bilal Zia, FCA
Abstract
Modern Business Intelligence platforms offer end-to-end capabilities, enabling users to take advantage of self-service to answer questions. Gartner defined modern BI in their most recent Magic Quadrant report, saying: “The evolution and sophistication of the self-service data preparation and data discovery capabilities available in the market has shifted the focus of buyers in the BI and analytics platform market — toward easy-to-use tools that support a full range of analytic workflow capabilities and do not require significant involvement from IT to predefine data models upfront as a prerequisite to analysis.” In this discussion, the impact of Modern Business Intelligence on Pakistani firms will be highlighted and evaluated.
Mr. Bilal Ziais PWC (AFF) trained Chartered Accountant with more than twelve years of diverse experience in corporate finance and financial/systems management and reporting; Specifically his experience includes Business Intelligence and Data Analysis Projects, Corporate Finance and Project Financing Advisory, Stock Exchange Listings Planning, Business Plans and Financial Modelling, IFRS/ US GAAP and Strategic Tax Planning. He has served clients from various sectors including Oil and Gas, Power Generation, Paints and Chemicals, Education, Textile, Fertilizer, IT Infrastructure, Transportation, Hospitality, Stock Exchange and Development/NGOs. Currently he is in consulting business as a practicing-member of ICAP and a professional trainer. He is providing value added services in the field of Auditing, Business Intelligence, IFRS and Corporate finance. Also, he has been part of Lahore University of Management Sciences (LUMS) as Faculty Member cum Trainer. He has also been USAID trainer and has international case study publications to his name.
Business Process Re-engineering
Mr. Zunair Zafar, FCA
Abstract
Business Process Reengineering involves the radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times and quality. In Business Process Reengineering, companies start with a blank sheet of paper and rethink existing processes to deliver more value to the customer. They typically adopt a new value system that places increased emphasis on customer needs. Companies reduce organizational layers and eliminate unproductive activities in two key areas. First, they redesign functional organizations into cross-functional teams. Second, they use technology to improve data dissemination and decision making. In this discussion the influence of business process re-engineering on firms of Pakistan will be assessed.
Zunair Zafar is Head of Finance & Accounts at LUMS. He has Articleship from A.F. FERGUSON & Co. He has Business Analysis experience in Pakistan & abroad. Also, he is process re-engineering & change management specialist. Moreover, Toastmaster; Advanced Communicator Silver - Competent leader – Mentor. He is an enthusiastic speaker, creative thinker, keen photographer and an eager networker. A lively personality with a drive for innovation
Benefits for Compliance of Taxation Laws
Mr. Nadeem Butt, FCA
Abstract
Over the period of time discrimination between tax compliant and non-compliant entity has been increasing. Sitting government is on a path of moving it to one step forward to bring more organizations into tax net by following the policy of carrot and stick. In this discussion some of the crucial benefits would be highlighted for the firms which are in compliance of taxation laws.
Nadeem Butt is a fellow member of ICAP and presently engaged in providing tax and audit consultancy services under the name and style “Nadeem & Co. Chartered Accountants” to various corporate and non-corporate clients. Besides practicing Mr. Nadeem Butt is also engaged in teaching the taxation subject to ICAP & ICMAP students. His Taxation Book “Conceptual Approach to Taxes” has been approved both by ICAP and ICMAP for all over Pakistan. He is also working as Chairman of Lahore Tax Bar Association (LTBA) Tax Academy.
Impact of Intangible Assets recognized under IAS-38 on Firms value
Ms. Ramla Sadiq and Mr. Abdul Rafay, University of Management and Technology
Abstract
An intangible asset is an asset that has no physical existence but is a part of the long-term resource of the firm. These assets are valued according to their intellectual and legal right and serve the function of value-addition to other tangible assets. Intangible assets include patents, trademarks, copyrights, business methodologies, goodwill and brand recognition. Research indicates that companies have a tendency to expense out intangible spending rather than capitalize it as an asset that builds their balance sheet. There are two primary exceptions to this expense; goodwill and software development costs (Lev, 2000). The purpose of this study is to assess the impact of intangible assets on firm value. Sample of this study consists of companies from telecommunications and services sector for a period 2011-2016. We linked market value of the firm to its various assets through systematic categorization. To understand the relative impact of intangible assets, assets are divided into three subcategories: physical assets, other assets, and IT assets. We also used proxy indicators for Research and Development (R&D) and Brand to ascertain their contribution to firm value. This study is unique in determining the impact of intangible assets on firm value in Pakistan and sets precedence for understanding this phenomenon in an emerging economy with dynamic business practices. The findings of this study have theoretical and practical implications. Theoretically, it determines how this phenomenon differs in an emerging economy and the extent of its impact. From a managerial perspective it identifies which assets managers should focus on to increase firm value.
Ramla Sadiq is currently an Assistant Professor at the School of Business and Economics, University of Management and Technology. Ramla holds a degree of MBA (Finance) and is currently engaged in teaching courses related to the field of finance. She also conducts research classes and supervises M.Sc. Finance research students in thesis development.Her research interests include corporate finance, investor behavior in risk management, transformations in money and banking, role of accounting policies in financial strategies, corporate innovation and financial impacts, Islamic banking and finance. Her work has been published in national HEC recognized journals, as well as on international platforms. She is currently a PhD scholar, pursuing her research interests in the current challenges and future prospects of banking and finance.
Abdul Rafay is a Fellow member of Institute of Chartered Accountants of Pakistan.Since 2001, he is a life time member of Lahore Tax Bar Association. He served as Co-regional Director (Founding)of Lahore/Islamabad Chapter ofProfessional Risk Managers International Association (PRMIA), Washington, USA (2011-2013). In 2012, he was nominated as Member: Education & Training Committee (ETCOM)of The Institute of Chartered Accountants of Pakistan(ICAP). He is REDCAlumniof Lahore University of Management Sciences(LUMS). Recently his name is included in the list of "Certified Directors"as per Clause (xi) of The Code of Corporate Governance 2012issued by Securities and Exchange Commission of Pakistan (SECP).
Bridging the Awareness Gap: Ideas for Forging University-Business Partnerships
Prof. Dr. M. Nauman Farooqi, Dean, Faculty of Social Sciences, Mount Allison, University, Canada
Dr. M. Nauman Farooqi is the Dean of the Faculty of Social Sciences and Professor of Finance & Entrepreneurship at Mount Allison University in Canada. Dr. Farooqi received his MBA and PhD. (major finance) from the John Cook School of Business, Saint Louis University, USA and a second MBA degree from Quaid-e-Azam University in Pakistan. He was awarded the Paul Pare Excellence Award in recognition of excellence in both teaching and research at Mount Allison University.
Dr. Farooqi has taught extensively at the MBA, Executive MBA, and BBA/BCom levels and conducted training, workshops and seminars in Canada, United States, Pakistan, South Asia and the Middle East. He has presented papers at national and international conferences and been recognized as an expert in Canada on Hawala (an informal money transfer system). He has been invited as keynote speaker at international conferences, interviewed by print and electronic media and consulted by law firms and law enforcement agencies on the topic of Hawala. For five years, he wrote a monthly article on entrepreneurship for the Globe & Mail (Canada’s largest circulation newspaper). His research interests are in the areas of Hawala and experiential learning pedagogy. Over the last seventeen years he has successfully worked on securing research grants totaling more than one million Canadian Dollars.
Dr. Farooqi is active in educational and corporate consulting and has worked with a number of national and international universities, corporations and non-profits including the United Nations Development Program and The World Bank.
Opportunity Analysis Surrounding the Entrepreneurial Behavior among University Students
Mr. Syed Ahmed Hashmi and Ms. Shamila Nabi Khan, Information Technology University and Lahore School of Economics
Abstract
This Research has the prime focus on exploring the interdependent relationships among various psychological factors that are detrimental in shaping up university students general behavior towards entrepreneurship. The real essence of this study revolves around the contingent effects and moderating effects of various factors like need for achievement, Self-Control and Relational support on entrepreneurial behavioral given the presence of variables like entrepreneurial intention, creativity, entrepreneurial self-efficacy, educational support and personal attitudes. In Pakistan, entrepreneurial behavior among university students has not been much studied to the extent of vouching planned behavior aspects that are considered the foundation basis for any prevalent behavior. The methodology for research is based on primary data collection through a questionnaire circulated among 300 respondents from two top tier universities in Pakistan followed by tests of reliability and validity both in SPSS and AMOS. The Results of the study showed a) significant behavioral tendencies of university students in terms of inclination towards entrepreneurial behavior. b) Mediation effect of need for achievement was not significant among entrepreneurial intention and behavior relationship however this effect was significant when tested directly among these two variables. c) Moderation effect of Self-Control on the underlining variables in this study was significant as a whole except for educational support d) relational support proved to moderate relationship between personal attitudes and entrepreneurial behavior e) All independent variables except personal attitude had significant direct positive relationship with entrepreneurial behavior.
Syed Ahmad Hashmi is a Research Associate at the Information Technology University of the Punjab. He did his MBA Finance & Marketing from Lahore School of Economics in 2015 and BSc. (Hons) Business from Forman Christian College Lahore in 2012. The author's key research interests are in the areas of entrepreneurship, business strategy & policy, consumer behavior and managerial control systems. Prior to joining professional academics in 2016, the author held distinctions in both his MBA and BSc Business with Dean's Honor Medal awarded by LSE and Professor's Medal awarded by Forman Christian College Lahore.
Shamila Nabi Khan is a Teaching Fellow at the Lahore School of Economics. She has a B.B.A (Hons.) in Finance & IT (Silver Medal) and a MBA in Double Majors in Marketing & Finance from Lahore School of Economics. In 2013 she graduated with an MPhil in Business Administration and currently she is enrolled in the PhD program in Lahore School of Economics. Alongside, she teaches Management, OB HRM and Research Methods and Projects to undergraduates and Professional MBAs. Her research interests include Organizational behavior, behavioral operations and behavioral finance. She has conducted several workshops in Lahore School of Economics on Advanced Statistical Analysis. She specializes in Research and is proficient in using SPSS (quantitative analysis), AMOS and LISREL (advanced quantitative analysis) and NVivo (qualitative analysis) including advanced tools in Excel.
Antecedents of Brand Equity in Relation to Product Sales Involving User Generated Content
Ms. Isra Mehboob, Dr. Mubbsher Munawar Khan and Ch. Zia ur Rehman, IBA, University of the Punjab
Abstract
In organizational environments, one of the major challenges faced by the management is retention of employees. As the workforce is the most important resource, therefore the management’s major focus should be on providing job satisfaction to the employees and thus retaining them. A satisfied employee will work in the best interest of the organization and be an asset for the organization. This study analyzes a special person known as the mentor and evaluates its effectiveness which may lead to reduced turnover intention as well as improved job satisfaction. Data was collected from 200 employees working in middle level management positions in multi-national organizations in Pakistan. A survey methodology was employed and questionnaires were administered to get responses on a Five point Likert Scale. The mentorship effectiveness scale developed by Berk R.A., Berg, Walton Moss and Yeo was used. The Job Satisfaction scale developed by MacDonald, S.,& MacIntyre and Turnover intention scale developed by Dess & Shaw has been used in the questionnaire. Data was analyzed using correlation and regression analysis. This study theoretically covers all the aspects relating to the role of mentors and different levels and types of mentorship programs. Our findings show that the employees of those organizations who have an effective mentorship program are more satisfied with their jobs and have a lower turnover rate. Furthermore the role of mentors is more effective in providing job satisfaction to the employees and development of career.
Irsa Mehboob PhD scholar at Institute of Business Administration (IBA), Punjab University, Lahore. Lecturer at Hailey college of Banking and Finance (HCBF), Punjab University and National University of Modern Languages (NUML), Lahore Campus.
Prof. Dr. Mubbsher Munawar Khan Principal Hailey college of Banking and Finance (HCBF),Punjab University and Associate Professor atInstitute of Business Administration (IBA), Punjab University, Lahore
Ch. Zia-Ur-Rehman PhD scholar and Lecturer at Hailey college of Commerce, Punjab University Lahore.
Mr. Salman Ahmed, Dr. Rizwan Ahmed, Ms. Zara Batool, University of Central Punjab and Lahore School of Economics
Abstract
Social media based promotion of products and services using internet has made possible for firms to promote products and services to global customer at low cost. Although buying behavior of consumers has been extensively studied, nonetheless web-based social media tools for promotion have caught attention of academician as well as practitioners. This study extends the social media based research of Mangold & Faulds (2009) by incorporating empirical evidence. The study collects data about French consumer buying electronic products online. Preliminary results show that social media based tools are useful to explain consumer’s online behaviour in the French online market for electronics. This study can help marketing managers to understand the importance of e-promotion-mix. Future research agenda can focus on other social media based e-marketing techniques.
Salman Ahmed works as a lecturer at University of Central Punjab. He holds an MBA from the University of Huddersfield, United Kingdom and a Master’s degree in computer sciences from University of Central Punjab. He holds more than 5 years’ experience in FMCG sales management in the UK. He’s is also holding Chartered Management Institute (CMI) UK's Level 8 Diploma in Strategic Direction and Leadership (QCF). His teaching and research interests include consumer behavior, marketing and Information Systems, Marketing and Operations management.
Rizwan Ahmed is an Assistant Professor at Lahore School of Economics, Pakistan where he teaches courses related to operations and supply chain management and digital marketing. Previously he has held academic and research positions at University of Central Punjab, Pakistan, University of Teesside, UK and University of Hertfordshire, UK. He holds a PhD in business process modelling and simulation and published peer reviewed articles in peer reviewed journals and presented at several international conferences. His research interests are in the areas of process modelling, knowledge management, and ecommerce.
Zara Batool works as a Research Associate at University of Central Punjab. She is also a graduate of University of Central Punjab (UCP). Her research interests include Leadership, Organizational Behavior, and Consumer Buying behaviors.
Sickness Presenteeism: What is “Sickness”?
Ms. Haadiah Yasir and Dr. Aamir Khan, Lahore School of Economics
Abstract
Sickness presenteeism, a form of presenteeism, is a developing field. It is about showing up at work being sick. Given the subjective nature of the phenomenon, a lack of consensus exists on its definition. We aim at defining “sickness” by using qualitative research.
We conducted a qualitative study with the help of in-depth interviews with 30 respondents (both male and female) working in corporate sector of Pakistan for more than 3 years. The sample has been selected by using a combination of convenience sampling, snowball sampling, and chain referrals.
The study identifies major themes that define sickness in case of employees showing up at work: serious illness that includes physical injury, jaundice, asthma, migraine, temperature, laziness, and mental frustration. The theme of laziness is identified as a new factor that might be causing sickness presenteeism.
Haadiah Yasiris currently working as Junior Teaching Fellow at the Lahore School of Economics, Pakistan. She has taught Management and Marketing courses. She is an M.Phil Scholar in Business Administration (Research). Her research interests are Organizational Psychology, Social Media Addiction and Consumer Behavior.
Aamir Khan is an Associate Professor of Management and Marketing at the Lahore School of Economics. He has a PhD in Marketing from Cranfield, an MSc in Management from INSEAD, an MSc in Organizational Sociology from Oxford, a BA Honors (First Class) in French from Oxford, an MBA from CEIBS, and a BSc Electrical Engineering from UET. He was a Rhodes Scholar at Oxford. He is recipient of President of Pakistan’s Gold Medal for Best Probationer at the Civil Services Academy.
Young and Single Women Entrepreneurs in Pakistan
Ms. Aqsa Sadiq and Dr. Aamir Khan, Lahore School of Economics
Abstract
There is a long history of women not enjoying the privileges conferred upon their male counterparts. In a patriarchal society, numerous factors undermine the confidence of women entrepreneurs, such as religious and socio-cultural factors, financial dependence, and societal perceptions about working women. It is important to understand the struggles and challenges that single, young women face to establish their businesses, as these businesses together can contribute enormously to GDP and higher living standards and boost the economy.
Our paper uses interpretative phenomenology to analyze the qualitative data collected via four face to face in-depth interviews of young, single and unmarried women entrepreneurs residing in Lahore. Results suggest that women are not encouraged to work and that they face societal as well as family pressures to opt for more feminine careers. Marriage becomes an issue for these women as they are supposed to take care of home and children later in life and a self-employed wife comes last on the priority list of Pakistani men and their families. Financing and government programs for women empowerment have been unable to make any real difference in their lives. Apart from all the issues these women have been able to survive and gradually establish their businesses, primarily because of their high spirit and self-confidence.
Aqsa Sadiq has a degree in Economics and Finance from Lahore school of economics, with a silver medal. She is currently an M Phil scholar and graduate teaching associate at the Lahore School. Prior to enrolling for her masters’ degree, she has worked as a Business development consultant at one of the leading IT companies of Pakistan. Her research interests are around organizational behavior, internalization of firms and entrepreneurship.
Aamir Khan is an Associate Professor of Management and Marketing at the Lahore School of Economics. He has a PhD in Marketing from Cranfield, an MSc in Management from INSEAD, an MSc in Organizational Sociology from Oxford, a BA Honors (First Class) in French from Oxford, an MBA from CEIBS, and a BSc Electrical Engineering from UET. He was a Rhodes Scholar at Oxford. He is recipient of President of Pakistan’s Gold Medal for Best Probationer at the Civil Services Academy.
Women Doctors and Specialization in Pakistan
Ms. Sehar Sohail and Dr. Aamir Khan, Lahore School of Economics
Abstract
The situation of the Pakistani medical workforce poses a persistent paradox. While the specialized practice is dominated by the presence of male doctors, the medical colleges are characterized by a large number of female students. One consequence of this phenomenon is the under-representation of female doctors in specialized medical domains in Pakistan.
This paper employs a qualitative phenomenological approach by highlighting the experiences of women doctors after basic medical graduation and during specialization program to elucidate the reasons for this persistent trend of lesser women doctors in specialized medical fields and fill the identified literature gap.
Results depict that the extent of family support, stage at which these women doctors were married (before or after enrollment in the specialization program), extent of interaction with children, time of graduation and their age at the time of enrollment in specialization degree play a vital role in completion and even the preference of the specialization degree. Moreover, as a coping strategy young women doctors prefer to get married after the first or second year of the specialization programs, while the women doctors in their late 30’s enrolled in specialization degrees are motivated to complete the program but take longer to do so.
Sehar Sohail completed her BBA-Double Majors Marketing and Finance from the Lahore School of Economics in 2013. She has 2 years Banking experience and is currently enrolled in Lahore School`s M Phil Business Research Program. Her areas of interest are Marketing, Brand Management and Consumer Behavior.
Aamir Khan is an Associate Professor of Management and Marketing at the Lahore School of Economics. He has a PhD in Marketing from Cranfield, an MSc in Management from INSEAD, an MSc in Organizational Sociology from Oxford, a BA Honors (First Class) in French from Oxford, an MBA from CEIBS, and a BSc Electrical Engineering from UET. He was a Rhodes Scholar at Oxford. He is recipient of President of Pakistan’s Gold Medal for Best Probationer at the Civil Services Academy.
Single Women at Work
Ms. Maira Habib and Dr. Aamir Khan, Lahore School of Economics
Abstract
The purpose of this study is to qualitatively explore what it means to be a single working woman in a patriarchal society such as Pakistan. Women in such societies have to deal with gender inequality both inside and outside their homes. They are constrained by gender roles, social and cultural norms, lack of financial independence, and stereotypes about working. Furthermore, most of the research so far has been focused on the challenges faced by married women or on the basis of gender. Little research focuses on the issues that women face due to being single, specifically in their work lives.
This study was guided by interpretative phenomenology based on Heidegger’s views. A phenomenological approach is appropriate as it allows the researcher to get first person point of view of the phenomenon of interest, and allows the researcher to retain the “voice of participants’’ without drowning it out through analysis. From the analysis, it became clear that single women are subjected to negative stereotypes at work. They have to deal with greater workload, harassment and social exclusion.
Maira Habib has done BSc (Hons) double majors in economics and finance from the Lahore School of Economics with a CGPA of 3.76. She is now enrolled in the MPhil in Business Administration program.
Processual Sense-making by Sexual Harassment Victims – Plea for More Qualitative Research
Dr. Aamir Khan, Lahore School of Economics
Abstract
Research on sexual harassment has proliferated from the 1970s. However, a) qualitative research is beginning to lag behind quantitative research b) most extant research is “static” – what is needed is comprehension of the processual nature of the phenomenon c) little research exists on how sexual harassment is perceived by victims; and d) this explains, and is explained by the fact that little consensus exists on an acceptable definition of the term.
My paper presents and analyses qualitative data collected from 15 respondents from a third-world country to shed light on the processual nature of sexual harassment. It fills a significant in an area which ironically has been explored intensively and extensively. Recommendations include a clear need for more qualitative research.
Metaphor: Organizations as Plants
Ms. Tooba Javaid and Ms. Rabia bashir, Virtual University and University of Management and Technology
Abstract
If we imagine organizations as plants; we see that organizations produce their populations by throwing their own seeds on the same grounds (markets), with which competition for resources and market share between organizations instigates and later become fierce. During this whole cycle, new niches are identified and created due to which again varied populations develop and organizations start competing in new markets. Some of the strengths of this metaphor could be that organizations as plants can think of flexible ways for opting and altering their functions; they may think of the ways they can minimize the intensity of the competition they face; they can analyze the importance of technology, innovation, research & development to capture new markets (niches) and remain competitive; they can design their own learning mechanisms which makes them ambidextrous and helps them to continuously observe their environment for changing their strategies accordingly. While, the limitations of this metaphor could be that the this concept is far too concrete; plants’ functional unity feature cannot be applied to organizations; besides, it does not explain that weather plants face any internal conflicts; and also that organizations cannot always compete since centralized decision making reduces the power of units to compete.
Tooba Javaid has been a faculty member of Virtual University of Pakistan since 2006. She has done her MS in Management from School of Business and Economics, University of Management and Technology of Pakistan. Her areas of interests are organizational theory, knowledge management and entrepreneurship.
Rabia Bashir is a scholar in Management. She has done her MS in Management from School of Business and Economics, University of Management and Technology of Pakistan. Her areas of interests are organizational theory and knowledge management.
Efficacious Mentorship and Its Effect on Job Satisfaction and Turnover Intention in MNCs of Pakistan
Mr. Athar Ehsan ul Haque and Dr. Sania Zahra, IBA, University of the Punjab
Abstract
In organizational environments, one of the major challenges faced by the management is retention of employees. As the workforce is the most important resource, therefore the management’s major focus should be on providing job satisfaction to the employees and thus retaining them. A satisfied employee will work in the best interest of the organization and be an asset for the organization. This study analyzes a special person known as the mentor and evaluates its effectiveness which may lead to reduced turnover intention as well as improved job satisfaction. Data was collected from 200 employees working in middle level management positions in multi-national organizations in Pakistan. A survey methodology was employed and questionnaires were administered to get responses on a Five point Likert Scale. The mentorship effectiveness scale developed by Berk, R.A.,Berg, Walton Moss, and Yeo was used. The Job Satisfaction scale developed by MacDonald,S.,& MacIntyre and Turnover intention scale developed by Dess & Shaw has been used in the questionnaire. Data was analyzed using correlation and regression analysis. This study theoretically covers all the aspects relating to the role of mentors and different levels and types of mentorship programs. Our findings show that the employees of those organizations who have an effective mentorship program are more satisfied with their jobs and have a lower turnover rate. Furthermore, the role of mentors is more effective in providing job satisfaction to the employees and development of career.
Athar Ehsan Ul Haq Research Scholar at Institute of Business Administration, University of the Punjab, Lahore. He completed his MBA with majors in Finance in 2003 from IBA, Punjab University. He is the Founder/CEO of Digital Expressions which is a company which deals with complete advertising and printing solutions for the corporate sector. He is achievement-oriented business professional with diversified experience in research, credit management, human resource management, accounting, preparation of feasibilities and financial analysis. He has strong PC/spreadsheet skills, excellent multi-tasking and organizational aptitude.
Dr Sania Zahra Malik Assistant Professor, is a PhD in Business Management from University of Glasgow, United Kingdom, which she completed under the scholarship of faculty Development Program from HEC. Previously, she obtained an MBA degree in Finance from IBA, University of the Punjab with distinction. She has presented her work in a number of international conferences and published a number of research articles in HEC recognized journals. Her PhD thesis is on the development of a new concept termed as "Vitality at Work" which is based on Positive Organizational Psychology literature. She has also introduced the subject of Positive Organizational Scholarship as a specialization course of MBA 1.5 and is supervising a number of thesis
Her areas of expertise are Quantitative Research Method, Structural Equation Modeling, Factor Analysis, Organizational behavior, Organizational Psychology, Organizational theory, Strategy and Change Management. She has also conducted workshops on SPSS and EndNote at the institute.
Team Member Familiarity and Conflict Management
Ms. Amina Talat, Lahore School of Economics
Abstract
This study explores the effect one of the contributors to group composition—team member familiarity on three outcomes: team conflict, team resilience and team situation models. The team literature suggests that team member familiarity is a predictor of a number of positive team outcomes. The proposition is empirically tested by collecting data from practitioners. The study collected data from a sample of 59 teams to test the relationship between team member familiarity and conflict management. CFA and path analysis was conducted on AMOS. The results suggest that there is no significant relationship between team member familiarity and reduced intra-team conflict. A number of plausible explanations are offered to explain the findings. Significant positive relationship were found between team member familiarity and team situation models and team resilience.
Amina Talat is an Assistant Professor at the Department of Business, Lahore School of Economics. Her research interest is in the area of organization behavior, particularly leadership styles and their impact on performance and team sensemaking and knowledge management. She is currently pursuing her PhD at Lahore School of Economics. She teaches Strategic Management, and Organizational Behavior and Leadership at both graduate and undergraduate level.
Market value of firm and CSR disclosure
Dr. Ramiz ur Rehman and Dr. Zahid Riaz, University of Lahore and Lahore School of Economics
Abstract
We examine the relationship between CSR disclosure and firm value in China. Using a sample of firms listed on the Shanghai Stock Exchange from 2008 and 2012, we find that firm value is higher among firms that disclose CSR information than among firms that do not disclose CSR information. Among firms disclosing CSR information, the market does not appear to reward more disclosure (as compared to less disclosure) unless the company has a larger number of shares held by institutions. Taken together, the results suggest that all shareholders may value CSR disclosure over non-disclosure, but only institutional investors appear to prefer more extensive CSR disclosures.
Ramiz Ur Rehman is an Associate Professor of Finance at Lahore Business School - University of Lahore. His research interests are Financial Economics and Business Ethics.
Zahid Riaz obtained his PhD and MPhil degrees from Australian School of Business, University of New South Wales, Sydney, Australia. Also, he has completed his MBA and BBA (Honours) from Institute of Business Administration (IBA), Karachi, Pakistan. He has more than 12 years of teaching, research and professional experiences in both national and international settings. Currently, he is serving as Assistant Professor at the Faculty of Business Administration, Lahore School of Economics, Pakistan. His research and teaching interests include corporate governance, corporate social responsibility and international business.
Planning to use flexible work arrangements
Ms. Sana Azar and Dr. Aamir Khan, Lahore School of Economics
Abstract
The adoption of Flexible Work Arrangements (FWAs) implies additional costs to organizations. Thus, it is imperative to inform and persuade both government and business leaders of the effectiveness of FWAs. Previous literature has explored the impact of FWAs on turnover intention. We focus on the role of moderator and mediators to explain the inconsistent results that have been found in literature. In a sample of 289 employed working adults, results of structural equation modeling revealed that job satisfaction and work-life conflict mediated the relationship between flexible work arrangements (FWAs) and turnover intention, after controlling for gender, age, marital status, number of children, number of dependents (elder care) and work experience. Thus, the use of FWAs seems to help employees experience lesser work-life conflict and more job satisfaction, both of which, in turn, are associated with lower turnover intention. Additionally, we found that planning behavior strengthened the impact of FWA on reducing Work-Life Conflict (WLC), but it did not strengthen job satisfaction as hypothesized. We discuss the implications of our findings for theory and practice.
Sana Azar is an Assistant Professor and a PhD Scholar at the Lahore School of Economics. She is a gold medalist in MPhil in Business Administration from Lahore School (2013). Sana has completed her MBA (Banking and Finance) from Lahore School of Economics in 2009. She has a B.Sc. (Hons.) in Computer Science from Kinnaird College for Women and Bachelor of Arts from Punjab University with specialization in Journalism and Economics. Sana teaches Marketing, Management and Research courses at the Lahore School of Economics at undergraduate (BBA & BSc) and graduate level (MBA & MBA for Professions). Her research interests include Time Management, Flexible Work Arrangements, Customer Relationship Management, Leadership and e-Commerce.
Aamir Khan is an Associate Professor of Management and Marketing at the Lahore School of Economics. He has a PhD in Marketing from Cranfield, an MSc in Management from INSEAD, an MSc in Organizational Sociology from Oxford, a BA Honors (First Class) in French from Oxford, an MBA from CEIBS, and a BSc Electrical Engineering from UET. He was a Rhodes Scholar at Oxford. He is recipient of President of Pakistan’s Gold Medal for Best Probationer at the Civil Services Academy.
Labels: Annual Conference, Lahore School, Managing Business in Pakistan, Research
posted by S A J Shirazi @ 4/18/2017 04:05:00 PM,
City Campus
104 - C, Gulberg III,
Lahore, Pakistan.
Phones: 92-42-35714936, 38474385
Fax: 92-42-36560905
Main Campus
Intersection Main Boulevard Phase VI
Burki Road
Lahore, Pakistan.
Phones: 36560935, 36560939
