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Purpose The purpose of this paper is to explore the contending role of important external inflows on the economic growth of Pakistan economy. The main purpose behind focusing on Pakistan is that it is receiving significant inflows from different international sources such as International Monetary Fund, World Bank and Asian Development Bank. Design/methodology/approach The study adopted the autoregressive distributed lag cointegration approach for the purpose of exploring the long-run cointegrating relationship among the variables. As Pakistan Government had been implementing some major liberalization policies during 1990s, data from 1976 to 2018 is used to estimate the specified models to reflect the impact of the surge of foreign inflows occurring from that time. In addition, error correction model is estimated for examining the short-run relationships. Findings The findings revealed the significant role played by different inflows in accelerating the economic growth. According to results, in the long run, all inflows, for example, Foreign direct investment (FDI), debt, official developdment assistance and remittances, have influenced significantly and positively the economic growth. The two control variables such as inflation and employment level included in the model have also played their expected role in the growth process. In the short run, some of the variables such as remittances, FDI and inflation rate have lost their significance level while for debt, aid and employment level, the signs of their coefficients become reversed. Practical implications Based on the findings, the study suggests the policymakers of Pakistan economy to liberalize the economy and attract more inflows from the external sources to accelerate economic growth. Originality/value To the best of the authors’ knowledge, this is the first comprehensive empirical study on the role of foreign inflows in the process of economic growth in the context of Pakistan economy.

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Green governance is an emerging concept that has received considerable attention from academics and industry over the last decade. Nevertheless, limited evidence is available on how green governance can affect the overall performance of firms. Accordingly, the study develops a green governance framework and establishes its relationship with the firm performance measured through shareholder value-added. While developing a new framework, this study integrated enterprise risk management, sustainability indicators, and green board committees to provide a holistic view of green governance. A contentious examination of the extant literature indicates the efficacy of these factors in mitigating economic, social, environmental, and governance risks. Firms, coping with these risks through the execution of a green governance framework, ensure shareholders’ interest by enhancing their financial returns and stakeholders through promoting sustainability. The study provides theoretical and practical insights to the policymakers, regulators, and practitioners of the oil and gas industry in promoting sustainable and cleaner operations by executing a green governance framework. To the best of the authors’ knowledge, this is the first study to propose an integrated green governance framework for the performance enhancement of oil and gas companies.