Sustainable economic growth and development of stock market plays an important role in diversifying the investment opportunities that can be assessed accordingly. However, a true diversification in portfolio is impossible without inclusion of higher-order moments, skewness and kurtosis. However, the risk-taking behavior of investors is modelled with the help of higher-order moments of risk. Therefore, this study is intended to construct optimal portfolios and efficient frontiers with the inclusion of higher-order moments of risk. The findings show that optimized portfolios with inclusion of skewness and kurtosis are sustainable and significantly different than those from mean-variance optimized portfolios which show asymmetric and fat-tail risk. Results further confirm its significance in balancing the additional risk dimensions and returns in Asian emerging stock markets for sustainable returns. The results also endorse that induction of skewness and kurtosis affects portfolio allocation weights and expected returns. Therefore, this study strongly recommends the inclusion of higher moments of risk for optimization to curtail their effect and sub-optimal decisions.

This study highlights the differences in performance of commercial banks operating in Pakistan in the context of credit portfolio management. Specifically, we look at their credit allocation policies and outcomes in the shape of nonperforming loans (NPLs). We categorize a sample of 34 banks into four major groups: public, private, Islamic and foreign banks. The study tests several hypotheses related to the overall efficiency of banks’ credit portfolio management over time as well as the drivers of NPLs and priority sectors for lending across these four categories. The findings broadly suggest that public banks tend to suffer most from NPLs, whereas Islamic and foreign banks manage their portfolios more efficiently. NPLs are highest in the priority lending sectors across all types of banks, which underscores the inefficiency of managerial decision-making when managing credit portfolios. Over time, at an aggregate level, all four types of banks have become less efficient, as reflected by the increase in NPLs as a percentage of gross credit and assets.

Innovative work behaviour (IWB) of employees is considered substantial for the organizational development to achieve competitive edge. That is why organizations are continuously working to improve their mechanism of enhancing IWB of the employees. Previous studies are evident that a good reward system can play an effective role in achieving the desired results because when employees are rewarded, they become more committed and produce innovative ideas for the companies’ proficiency. Therefore, present study is aimed to find out the effect of reward system on IWB of the employees through temporary organizational commitment (TOC), temporary organizational proficiency (TOP). It further explores the moderating role of multiculturalism between TOC, TOP and IWB. Data is collected from 362 contractual employees of the multinational companies of Pakistan through questionnaire survey. The findings of the study depicted that TOC and TOP mediates the relationship between reward system and IWB. The moderating role of multiculturalism is well explained in the relationship of TOP and IWB. Multiculturalism decreases the positive effect of TOP on IWB. These results will be helpful for the organizations to achieve the project success

The debt structure remains an area of indispensable concern for businesses across the globe. The organizations are facing difficulty to achieve an optimal capital structure due to inconsistent debt policy. This study investigates the firm's debt policy consistency over a period of twenty-two years after its establishment by observing leverage, debt maturity, debt granularity, and debt specialization as important measures. It has employed a unique dataset covering all the non-financial Pakistani firms listing from 1997 to 2018. The results depict that a firm's debt policy remains remarkably consistent over time, confirming that the initially adopted debt policy is a significant determinant of its future debt policies. However, it is noteworthy that the consistency of the debt policy has shown a declining trend due to the firm's age and size. Additionally, we have examined the effect of business group affiliation on the consistency of debt policy, with further segregation in terms of the financial firm's presence in a group or not. The findings show that a group affiliated firm has more access to the debt market than an unaffiliated firm. Further, the existence of a financial firm in a group serves as an extended financial market that help them to survive in a distress situation. This study will assist the managers in understanding the significance of initial debt policy on the continuity of future policies that help them in financial decision-making.