The objective of this study is to examine the impact of financial decisions on the ownership structure. This study adopted two themes of ownership structure (e.g., 25% & 50%) that categorized the family-owned firms (FOF) and non-family firms (NFOF). The data was collected from 286 firms listed at GCC stock exchanges annual reports, stock exchange database, and Data Stream that range from 2010-2016 periods. The findings of this study showed that the FOFs have lesser investment-internal fund sensitivity than NFOFs. Though, there is an insignificant effect of the block holder on investment funds sensitivity. However, the little implication of dividend payout in FOFs as compare to NFOFs was disclosed in the results. Moreover, it wrapped up that there are less agency problems and information asymmetry in FOFs comparatively.
This paper examines the factors that lead to success or failure of Small Medium Enterprises (SMEs) operating in South Punjab and Baluchistan. There is lack of studies that have conducted in this setting particularly in Pakistan.. Using quantitative approach the data was collected through questionnaire adapted from Lussier Model to measure the success and failure factors of SME's. The data was analyzed by using e-views to examine the reasons for the success or failure using logistic regression statistical analysis. The result of this study showed that proper business planning, employee staffing, adequate capital inflow and partnerships are important for the viability, management experience, and planning play important role for the success of SMEs. The findings of this study help the SMEs owner, managers, policy makers, practitioners and other professional advisor to improve the success of SME's by focusing on proper planning, professional advice, relevant industry experience, education, staffing, age, and to avoid failure by maintaining and improving proper record keeping and financial control.
Does personality matter when entrepreneurship endeavors are driven by Islamic values and religious practices? To understand this, the study reviewed the research on the relationship between personality and practicing Islamic Entrepreneurship. More specifically, the study proposed a conceptual model after reviewing the literature to show what personality traits and characteristics become important when Islamic religious values and practices guide entrepreneurial activities, therefore, appear as critical contextual factors. The study identified traits and characteristics such as initiative, excellence, honesty, patience, knowledge, ethics, social responsibility, and customer orientation having a robust relationship with the manifestation of opportunity exploration and opportunity exploitation when individuals adhere to Islamic values system during the business venturing. Though, personality research in the field of Entrepreneurship is criticized, however, religion as a contextual variable shapes personality towards the way how Entrepreneurship is practiced. The study is concluded with the limitation and future lines of inquiry.
The objectives of this study are to examine; the direct effect of entrepreneurial orientation, firm innovativeness on firm performance; the indirect effect of firm innovativeness between entrepreneurial orientation and firm performance; and the moderating role of market turbulence between firm innovativeness and firm performance. Using a quantitative approach, this study has collected data through a survey questionnaire from a sample of 300 Pakistani IT-based SMEs operating in South Punjab, Pakistan. The data was analyzed in SPSS and PLS-SEM software. The results revealed a significant direct positive impact of entrepreneurial orientation and firm innovativeness on business performance. The result also confirmed the partial mediation of firm innovativeness between entrepreneurial orientation and business performance. The moderating role of environmental turbulence indicated that SMEs owners’ market and technological environment decrease the firm performance. Overall, these findings highlighted the importance of entrepreneurial orientation, firm innovativeness, market turbulence and technological competition jointly influence the direction and strength of the SMEs performance. This study enhanced firm performance and innovation-based research by identifying the configurationally market conditions that augment or limit the value of firm innovativeness. Besides, the study has highlighted the role of environmental turbulence on firm performance as the studies on this issue is scarce.
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