This study aims to examine the upshot of human resource practices on work engagement with mediation of procedural justice among faculty members of public sector universities in Pakistan. The target population of study is faculty member of 13 universities Pakistan. The research undertakes a cross-sectional and causal research design. The quantitative data is being analyzed with the help of inferential tool, structural equation modelling (SEM). Results documented that HR Practices have positive and significant effect on work engagement. Outcomes have additionally recognized that HR Practices do have positive and significant influence on procedural justice and in turn procedural justice has positive and significant impact on work engagement. Lastly study outcomes observe that procedural justice fully intervenes the association between human resource practices and work engagement. Study is domineering and important because it has observed a least observed area in research. Top management and policy makers can use findings of this research to better imply human resource practices to enhance work engagement level with the help of procedural justice in public sector universities.
Emotions are considered as the real inner perception of a person. Emotions can never be ignored or completely eliminated from one’s life. The point of emotion like nostalgia has immense importance in our social life and the concept of nostalgia has a great shift from organizational environment to expanding marketing world. This research aimed to determine the purchase intention as outcome of nostalgic emotions of customers. This study finds the mediating effect of attachment and attitude in between nostalgic emotions and purchase intention. The data for this research was collected from the customers of Toyota and Honda motors located in two metropolitan cities of Pakistan (i.e Karachi and Lahore). The research has used non-probability sampling technique and cross-sectional research design was adopted. Furthermore, the adopted and modified questionnaire was used as survey instrument. The statistical outcomes were drawn from robust statistical technique, covariance-based structural equation modelling (CB-SEM). The results show that nostalgic emotion has positive and significant effect on purchase intention of customers. Moreover, mediating effect of attitude and attachment was confirmed in between nostalgic emotion and purchase intention. Consequently, this study confirmed that organizations should work on customer attitude and attachment which are the possible causes of nostalgic emotion, it may sufficiently increases customers’ purchase intention.
The paper investigates the Shariah compliant and conventional portfolios in financial settings of Pakistan during the period 2009-2019 by using Markowitz Minimum-Variance (MMV) framework. Using daily excess returns, we first investigate the impact of Shariah screening criteria on stock returns then we evaluate the overall risk of Shariah compliant and conventional portfolios. The results reveal negative impact of Shariah screening criteria on stock returns’ cross-section. Further, unconstrained portfolio investment strategy outperforms faithbased investing. Finally, the findings of the study suggest that induction guidelines employed in PSX for companies to be listed in Shariah compliant index needs to be reviewed to practically attain the objectives of Islamic moral economy such as avoiding Gharar (uncertainty) and Maysir (speculation). More importantly formulate a criterion that truly reflects Islamic principles of investing. In addition, more could also be done to educate investors about Shariah compliant stocks and enhance the projection of Shariah compliant index. Secondly, our study also indicates that investors that prefer faith-based investing should be aware of the costs of faith investment in PSX. Investors can encounter additional costs while investing in Shariah compliant stocks. Moreover, these additional costs are driven high risk and low performance of faith portfolios.
This paper evaluates capital structure under risk-based capital regime from the perspective of insurance firms and its performance. It also evaluates the moderating effect of insurer’s risk profile on capital-performance relationship. The authors aim to reveal ambiguities, gaps and omissions in the literature and to sketch avenues for future research. A conceptual framework for capital structure under risk-based capital era and its application is suggested focusing on equity, technical provision and required risk propensity for maximizing profit and wealth for all stakeholders. The research reviews that capital structure of insurers differs from non-insurance firms as such risk-based capital regulation must not only focus on the various types of risk but also recognized these differences. It is shown that insurers’ capital structure contains equity and technical provisions which comprises accruals and creditors, payable claims and insurance funds as an alternative of equity and financial debt as it is with conventional non insurance firms. This study thus stressed that for capital structure to best explain performance of insurers, it must be measured by equity ratio and technical provision ratio in place of debt ratio and corporate risk profile (quantitative and qualitative) must enter its sequence of performance relational analysis and effectiveness equations. We stressed further that only with the proposed conceptual framework would a holistic understanding of insurer’s capital structure be achieved while the observed contradictory and inconclusive empirical findings on capital structure and firm performance could be resolved.
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