Final Year Projects (FYPs) - Undergraduates
Permanent URI for this collectionhttps://repository.cuilahore.edu.pk/handle/123456789/49
This collection archives the complete set of theses produced by students of the COMSATS University Islamabad, Lahore Campus.
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Item Impact of Shareholders’ Activism on Governance Practices and Firm Performance in Pakistan: A Response for Family Controlled Firms(Library Informtion services, CUI Lahore, 2019) Ayesha Amjad; CIIT/FA17-RMS-008/LHR; Dr. Sajid Nazir; LHR TP 5696This study has set out to empirically examine the impact of one of the monitoring mechanism of corporate governance on the overall performance of the firm. Call of previous researches stimulate this study to respond by taking sample of 150 nonfinancial firms listed on PSX to investigate impact of ownership structure on performance of the firms while taking into account multiple dimensions. The study has taken firm performance as it dependent variable which is measured through two proxies: Return on Assets and Tobin’s Q. The independent variable of the study is Ownership Structure of corporate governance measured through five proxies: Institutional Ownership, Family Ownership, Family Control, Group Affiliation and Institutional Activism. The study has employed System GMM econometric technique to investigate the relationship. According to computed results, Family Ownership puts positive and highly significant impact on market performance of the firm. Similarly, there exists strong and significant relation among Family Control and market value of firm. There is highly significant association among Group Affiliation (GA) and market performance of the firm but in negative direction. Similarly, Institutional Ownership (IOS) is significantly related to accounting and market performance of the firm. Moreover, joint impact of Institutional and Family Ownership (IOSxFOS) is positively and significantly related to accounting performance of the firm. Finally, Institutional Activism (Inst_Act)is positively and significantly related to accounting performance of firm.Item Impact of Risk Management Practices on Project Success: A Comparative study of Conventional and BOT Projects in Pakistan(Library Informtion Services, CUI Lahore, 2018) Muhammad Ahsan; CIIT/FA15-RPM-005/LHR; Dr. Sajid Nazir; LHR TP 5210With the growing demand of public infrastructure projects, it is necessary to clearly identify, evaluate and manage the risk associated with the project. The study of this thesis aims to identify and compare the best practices of risk management in build operate transfer projects and conventional projects. This approach also combines aspects of soft and hard skills. This methodological approach involves a literature review to underpin the conceptual framework and a survey to identify the best practices of risk management in build operate transfer projects and conventional projects in Pakistan by using structural survey form. It is a quantitative research. A self-administrated questionnaire comprising of two parts: closed ended questions were asked about gender, age, organization, service, employment type and project. Other variables taken and used within study are linked with 5 points likert scale so that the respondents could select them according to their experiences and attitude towards the variables. The data was analyzed based on sample survey forms collected from reputed companies of Pakistan such as NHA, FWO and NESPAK. The fieldwork involved interviews with project managers and the professionals working on build operate transfer and conventional projects. The total sample size comprises of 70 respondents and the sampling technique that is used is simple random sampling. Further-more data is analyzed by using independent sample t-test. The structural model presented herein provides a means for correlating the hard and soft sides of risk management understanding the best practices of risk management in build operate transfer and conventional projects in Pakistan. The results of the study reveal the best practices of risk management in conventional and BOT projects and its impact on the project success. CommentItem Impact of Corporate Governance on Capital Structure: Mediating Role of Cost of Capital(Library Informtion Services, CUI Lahore, 2017) Aisha Javaid; CIIT/FA15-RMS-014/LHR; Dr. Sajid Nazir; LHR TP 4759ix ABSTRACT Impact of Corporate Governance on Capital Structure: Mediating Role of Cost of Capital This study contributes to the existing literature of capital structure by extending the empirical work on the established relationship between the corporate governance and capital structure by analyzing the mediating role of cost of capital. Using five major attributes of corporate governance i.e. board size, board composition, CEO/Chairman duality, managerial ownership and institutional ownership as explanatory variables and weighted average cost of capital as mediator, we attempt to analyze the implication of good governance practices on the effectiveness and value relevance of capital structure decisions. However, debt to asset ratio was used to measure the leverage ratio of the firm considered as the dependent variable of the present study. The sample for this study is 76 non-financial firms listed on the Pakistan Stock Exchange (formerly Karachi Stock Exchange) for the period of 2004-2015. The analysis of present study has been disintegrated at four levels. Firstly, we have studied the relationship between corporate governance and capital structure, secondly, the relationship between corporate governance and cost of capital, thirdly, the relationship between cost of capital and capital structure and lastly, the indirect effect of cost of capital in the existing relationship between corporate governance and capital structure as the mediator. As the data is cross- sectional-time series, pooled and panel data analysis techniques (i.e. fixed effect and random effect) are used for inferential purposes, after performing regression diagnostics tests such as linearity, normality and heteroskedasticity. In order to choose between fixed and random effect model results, Hausman test was performed which is the indication of appropriateness of obtained results for interpretation. Our findings provide evidence for the explanatory power of corporate governance and the partial mediating role of cost of capital in determining the optimal capital structure. Additionally, we concluded that board composition, CEO/Chair duality and managerial ownership are significant in determining the capital structure decisions of the firm while, institutional ownership and board size are not significant in the financing decisions of the firm. Moreover, somex conventional determinants of capital structure including tangibility and return on assets are also significant in deciding the optimal financial mix of the non-financial firms of Pakistan stock exchange.Item Impact of Political and Terrorist Events on Stock Market Returns: A Comparative Study of South Asian Countries(Library Informtion Services, CUI Lhr, 2017) Adeel Akram; CIIT/FA15/RMS/002; Dr. Sajid Nazir; LHR TP 4871Efficient Market Hypothesis (EMH) suggests that markets are rational and reflect all information. So, no investor can beat the market by generating abnormal returns. But it is found that stock markets deviate (anomalies) and contradicts the rule of EMH. To investigate this issue in this event study political and terrorist events are considered as the external information. Political and terrorist events create uncertainty and risk for the investors in the capital markets. These events have been increasing dramatically in the last decade by which investors face hesitation and fear while investing in a politically unstable and unsafe country. The stock markets in our study includes Pakistan Stock Exchange (Pakistan), Bombay Stock Exchange (India), Chittagong Stock Exchange (Bangladesh) and Colombo Stock Exchange (Sri Lanka). This comparative study is the effort to find the answer of whether political and terrorist events have any impact on the Stock Market returns on the financial markets of South Asian countries. Event study methodology is used in the study. By using Market Model, we analyzed 47 terrorists and 45 political events in all four countries of our study during 2005-2016. The empirical result shows that the political and terrorist events have significant impact on stock market returns. Moreover, the results shows that the stock markets of South Asian countries are inefficient on 15-day event window. While the results on 2 day event windows are insignificant. The noisy information does not absorb by the markets shows the contradiction to the assumptions of efficient market hypothesis (EMH). Key words: Efficient market hypothesis, Market Anomalies, Event Study MethodologyItem Impact of Empowering Leadership on Project Success: Mediating Effect of Knowledge Acquisition and Knowledge Sharing in Software Industry of Pakistan(Library Informtion Services, CUI Lahore, 2017) Qaisar Hafeez; CIIT/FA15/RMS/010; Dr. Sajid Nazir; LHR TP 4866Foreign Direct Investment (FDI) is to be considered very important factor for economic growth of any country. FDI brings with it employment, managerial skills, superior technology and economic development & growth. Most developing countries take FDI as an important tool to bridge the gap between their capitals and development programs. It also helps to acquire skills, new technology, organizational and managerial practices. However Multinational Enterprises considered many factors before investing in any country and corporate tax rate is one of them. The literature has provided many evidences that the MNEs invest in the lower corporate tax rate countries. The other considerable factors are availability of natural resources, infrastructure, skilled labor, political stability and business easiness etc. These are all location specific advantages. We examined the impact of corporate tax rate on attracting FDI in Pakistan In addition we also check the impact of terrorism, energy shortfall, skilled labor, infrastructure, degree of openness, corruption and political stability on FDI. The time series data of 28 years from 1989 to 2016 is considered for the study and a dummy representing three political regimes i.e. 1989 to 1999, 2000 to 2008 and 2009 to 2016 is also included. Johansen cointegration test, error correction model, granger causality and vector error correction model is used to evaluate the data. The result of the study shows that there is significant negative relationship between FDI and corporate tax rate, terrorism, energy shortfall, labor, infrastructure & degree of openness. In ganger causality test energy shortfall and FDI both have positive and significant relationship.Item Formation of Resilience to Mitigate Risk and Moderating Effect of Supply Chain and Supply Base Complexity(Library Informtion Services, CUI Lahore, 2019) Maheen Abdul Sattar; CIIT/FA17-RBA-004/LHR; Dr. Sajid Nazir; LHR TP 5678Introduction: In the past few decades supply chains have become vulnerable to risks which are causing numerous losses both physical and financial to organizations. Resilience is considered as a strategy to deal with risks. It is the ability of an organization to mitigate risks and in case of exposure return to original performance in shortest span of time. Resilience building is dependent on development of capabilities which are termed as Resilience Enablers and Integration in this study. Resilience Enablers and Integration form Resilience which in turn helps in mitigation of risk. This process might get affected by the complexity of supply chains which is increasing day by day. Complexity can affect the performance of resilience as more complex supply chains are difficult to handle and may bring more risks.This study takes Supply Chain Complexity and Supply Base Complexity as moderators to analyze their effect on the performance of Resilience Enablers in building Resilience and that of Resilience in mitigating Risks. Method: This study is quantitative in nature and data was collected using questionnaire for testing hypotheses. Data was collected from supply chain/logistics/procurement managers and assistant managers of FMCG firms. Five hypotheses were tested based on the conceptual model. For testing and analyzing hypothesis various statistical tests were performed like descriptive, correlation, Confirmatory Factor analysis, and were conducted in SPSS and Warp PLS software’s. Conclusion: The results of the analysis showed that specified set of Enablers do not play role in formation of Resilience but Integration plays a positive role in formation of Resilience. Resilience role in mitigation of risk is also supported by results. Moreover SBC negatively moderates the relation between Enablers and Resilience but SCC does not moderate the relation between Resilience and Risk. Key words: Resilience Enablers, Supply Chain Resilience, Supply Chain Risks, Integration, Supply Base Complexity (SBC), Supply Chain Complexity (SCC