PhD

Permanent URI for this collectionhttps://repository.cuilahore.edu.pk/handle/123456789/47

This collection archives the complete set of theses produced by students of the COMSATS University Islamabad, Lahore Campus.

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Efficiency Analysis of Financial Institutions in Pakistan
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2013) Muhammad Jam-e-Kausar Ali Asghar; SP10-PMS-002; Talat Afza
The study applied parametric Stochastic Frontier Approach (SFA) and non-parametric Data Envelopment Analysis (DEA) to estimate the efficiency of financial institutions in Pakistan over the period 2005 to 2010. The financial institutions include; commercial banks, insurance companies, mutual funds, leasing companies, modarabas and investment banks which are operating in Pakistan. Present study followed the value added approach for the selection of input and output variables. The study computed technical efficiency, cost efficiency and profit efficiency with the SFA technique whereas, DEA was used to compute the technical efficiency, pure technical efficiency, scale efficiency, allocative efficiency and cost efficiency of the financial institutions in Pakistan. The highest level of efficiency is reported by the mutual funds whereas, lowest level of efficiency is found in the investment banks of Pakistan. Moreover, current study also investigated the scale economies in different financial institutions of Pakistan. The results suggested that the number of financial institutions with Decreasing Return to Scale (DRS) are increased whereas, the number of financial institutions with Increasing Return to Scale (IRS) are dropped over the study period. Furthermore, present study also undertook the Tobit analysis to find the association of various firm characteristics, financial reforms and financial uncertainty with various efficiencies computed with the SFA and DEA techniques. Firstly, the overall results indicated that the firm characteristics have mixed relationship with various efficiencies for each type of financial institution which is due to the fact that these financial institutions are dissimilar from each other. Secondly, financial reforms are found positively related with various types of efficiencies which suggest that the financial reforms have proven fruitful for the financial institutions of Pakistan. Finally, the financial uncertainty is found negatively related with the efficiency of financial institutions which implies that the financial uncertainty has adversely affected the overall performance of financial institutions in Pakistan.
Perceptions of Organizational Politics and Employees’ Performance; An Integrative Model of Pakistani Worksites
(Library Information Services COMSATS University Islamaabad Lahore Campus, 2014) Rizwan Qaiser Danish; SP09-PMS-002; Prof. Dr. Mahmood A. Bodla; LHR TP 5288
Organizational Politics is an integral part of every organization whether small or large, public or private. This phenomenon varies in the degrees of its use from person to person and context to context. Thus perceptions of reality are more important than reality itself. The study in hand is an effort to investigate what affects do these perceptions have on different employees’ outcomes in Pakistani organizations. This is prime effort to investigate the relationship of perceived organizational politics with various outcomes through mixed method design and focusing on mechanisms or processes rather than bivariate relationships. The data was collected from nationwide sample through self administered questionnaires in quantitative phase and semi structured interviews in qualitative phase concurrently. Self administered questionnaires were distributed to part time management students who were working in different organizations of Pakistan during their day schedule and take their classes in evening. Overall 1360 questionnaires were distributed from which 1163 working surveys were received which make about response rate equals to 85.51%. Qualitative data were collected through semi structured interviews from six executives working in different industries. Participation in survey and interview was voluntary while confidentiality and anonymity were ensured. For analysis purpose, quantitative data were coded and entered into SPSS 20 and interviews were transcribed in NVivo 10. Structural Equation Modeling was applied for measurement model and structural model for the purpose of hypotheses testing in AMOS 18. Supplemental tests for mediation and interactions were run for cross validation in SPSS 20 through regression analysis. The results strongly supported the proposed model and hypotheses thus establishing evidence from comparatively very large national level sample. There were also some exploratory findings which have been discussed in details. Guidelines for future research are also provided.
Antecedents and Consequences of Sales Force Intrinsic Motivation: An Integrated Model
(Library Information Services COMSATS University Islamaabad Lahore Campus, 2015) Basharat Naeem; SP09-PMS-001; LHR TP 5291; Dr. Mahmood Ahmad Bodla
How can sales force be motivated for superior sales productivity? This question has consistently been asked by sales management since long. While sales quota based compensation are frequently used to improve performance, critics highlight potential dark side of such schemes resulting into extrinsic motivation of poor quality as it would not be sustainable and bring counter-productive work behaviors. Numerous practicing managers and academics recite now-familiar motivational mantra that motivation comes from the self, not from desire for money. Although intrinsic motivation has long been theorized as strong predictor of performance particularly for the jobs requiring creativity, yet empirical evidence does not seem to converge. Moreover, knowledge is strikingly limited of how informal controls intrinsically motivate sales force to perform their job in creative fashion to be star performers. It provides strong stimulus to address the research question of how sales force intrinsic motivation is influenced by largely ignored informal sales force controls (antecedents) such as optimistic sub cultural control (workgroup level context) and spirit at work based control (job level context) which, in turn, drive sales performance directly and indirectly by sales force creativity (consequences). Moreover, it is advocated that if indeed different selling situations exist, then there will be high likelihood that each type of sales force, for example trade (Fast Moving Consumer Goods; hereinafter FMCG) and missionary (Pharmaceutical) sales force of this study, may respond differently to contextual factors, such as informal sales force controls of this study, resulting into differential influence on motivation, behavior and performance. Surprisingly, knowledge regarding the effect of the type of sales force selling situations for critical sales force outcomes is limited at best. This issue provided thrust for this study to address important research question of whether or not effectiveness of newly introduced informal sales force controls is contingent upon selling situations of trade (FMCG) and missionary (Pharmaceutical) sales force. An integrated conceptual model is proposed by uniquely merging complementary insights from conceptual logic of informal controls, componential theory of creativity and self-determination theory. Mixed method sequential explanatory research design is used to empirically test the proposed model by employing structural equation model. In focal quantitative phase, data is collected by structured survey questionnaire from 1065 frontline field sales force, both sales persons and sales managers, of 60 sales organizations of FMCG and Pharmaceutical industries in Pakistan. In follow-up qualitative phase, eleven semi-structured interviews of the survey respondents are used to interpret and corroborate key quantitative findings. Findings indicate that intrinsic motivation does not automatically translate into improved sales performance. Actually, sales force intrinsic motivation first stimulates their creative performance of selling job which, in turn, improves their sales performance. Analysis clarifies the role of intrinsic motivation that it is contextually influenced attitudinal state cultivated by both informal sales force controls. Spirit at work based control has important role in nurturing sales force creativity, which consequently improves their sales performance, over and above that is mediated by intrinsic motivation. Whereas optimistic sub cultural control stimulates sales force creativity, by cultivating intrinsic motivation, which results into their improved sales performance. Interestingly, these relationships do not differ significantly across selling situations of trade and missionary sales force disconfirming the assumption of heterogeneity of such selling situations. This thesis provides potential aid to theoreticians and practitioners to appreciate and understand complex mechanism of effectively designing informal sales force control levers by highlighting the importance of intermediary markers of sales force intrinsic motivation and creativity for developing high performing sales force operative in highly competitive FMCG and Pharmaceutical industries, characterized by cut-throat competition, challenging sales quotas and escalating customer demands, in the context of developing country of Pakistan. From practical stand point, this thesis enriches sales management understanding that trade and missionary selling situations are not sufficiently diverse to cause differential perceptions of informal sales force controls.
The Relationship Between Corporate Governance and Firm Value: Role of Discretionary Earnings Management
(Library Information Services COMSATS University Islamaabad Lahore Campus, 2015) Sajid Nazir; FA10-PMS-001; Dr. Talat Afza; LHR TP 5287
Corporate governance practices help in enhancing firm value by effectively monitoring the managerial decisions as well as reducing the level of information asymmetry and agency problem between empowered managers and dispersed minority shareholders. The present study investigates the relationship between corporate governance and firm value for the developing economy of Pakistan. The study has also taken into consideration the moderating role of discretionary earnings management in corporate governance-firm value relationship, which is considered to be a relatively ignored research issue in corporate finance literature. In addition to focusing on individual mechanisms of corporate governance (i.e. audit, board, compensation, ownership), the present study has also constructed a composite corporate governance index to investigate the role of effective corporate governance in mitigating earnings management and enhancing firm value. The data of 208 firms listed at Karachi Stock Exchange for a time period of 2004 2011 has been used for analysis and accounting, market and economic measures of performance have been used as firm value. The study finds that corporate governance plays a vital role in enhancing firm value in long as well as short run. Constitution of internal audit committees as an effective internal audit system is essential for the enriched progress of a firm. The monetary incentives and compensation paid to the top executives motivates them to work in the best interests of the company which increases not only short term accounting value of firm but also long term market and economic value. The findings reveal that discretionary earnings management practices by corporate managers damage the firm value in long term and it could be mitigated by effective corporate governance mechanisms. Moreover, this value damaging role of discretionary earnings management negatively moderates between effective corporate governance and firm value. Firms with earnings manipulation weakens the impact of effectiveness of governance system and leads to lower firm value. Finally, the study suggests some practical implications based upon the findings for investors, policy makers and manager.
Impact of Subordinate’s Perception of Leader Member Exchange on performance: Moderating role of Social Powers
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2016) Jawaria Fatima; FA11-MSMS-017; Dr. Asma Imran; LHR TP 4713
The current study intends to clarify the role of Leader-member exchange at work place. The study aims on two objectives. Firstly, the study focused on impact of perceived quality relationship of subordinate’s leader member exchange with their supervisor/manager on performance proxies such as affective commitment, organizational citizenship behavior, intention to leave and mastery orientation. Secondly, it examines the moderating role of perceived social powers (Positives and negatives) in LMX and performance proxies’ relationship. The study has opted quantitative approach, by collecting questionnaires from cellular Mobile companies licensed under Pakistan Telecommunication Authority and different Textile companies listed on All Pakistan Textile Mills Association. The data of 295 was collected from middle managers. The paper provides empirical insight on how positive and negative social powers moderates the relationship between LMX and Performance proxies. Social powers have shown to moderate the relationship between LMX and performance proxies. Firstly, as it was a cross sectional study, the biasness could have cause to change some of the relationships. Secondly, the study has focused on two of the sectors. Therefore, the proposed hypotheses are encouraged to be tested in different sectors. The current has concluded implications for the manager, who needs to focus on LMX to improve employee performance at work place. Leaders/Managers/supervisors need to understand which social powers have positive impact on LMX and performance. This would help them to improve their satisfaction level and keep them more motivated at workplace, thus they will less likely to leave the organizations.
Antecedents and Consequences of Cost of Quality in Human Resource Practices of Small and Medium Enterprises in Punjab, Pakistan
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2017) Hafiza Sadia Mansoor; FA11-MSMS-014; Dr. Faisal Tehseen Shah; LHR TP 4722
The study is focused on the analysis of the impact of the Human Resource practices (HR Planning, Communication, training and development and performance evaluation and feedback) in the Small and Medium Enterprises of Pakistan on the Costs of Quality like lack of commitment, cynicism, intention to quit and absenteeism, considering it as an expense. The study will also evaluate the ultimate impact of these costs on the performance of the organization. The mediating role of the Costs of Quality on the relationship of the HR Practices and the Organizational Performance is also evaluated during the study. The salary based employees of the organizations having 5 – 250 employees have been selected on the basis of stratified sampling technique for the data collection purposes. Out of 600 questionnaires distributed, 290 were returned and 278 were used for the study. The relationship of HR Practices and organization performance has been found to be significantly mediated by the Costs of Quality. The study will be highly significant for the practitioners in the SMEs, shifting their focus towards the increased quality HR practices.
Mediating Role of Workplace Spirituality and Protean Career in Modeling the Employee Career Success through Spiritual Leadership
(Library Information Services COMSATS University Islamaabad Lahore Campus, 2017) Huma Ali; SP11-PMS-001; Dr. Mahmood Ahmad Bodla; LHR TP 5292
Career success, though a subjective construct, has always been the most cherished goal of all employees. The present study focuses on the role of spiritual leadership in attaining the career success while workplace spirituality and protean career acts as catalyst to enhance the underlying psychological processes. Subjective evaluation of career success may include life, career and job satisfaction which can be enhanced through spiritual leadership. Workplace spirituality is the very essence for prevalence of spiritual leaders which can boost up the morale of employees and help meet their personal as well as organizational objectives by nourishing different streams of their careers. A protean career employee generally focuses on personal development of his skills and competencies at his own in order to attain career success instead of being dependent on organizational career arrangements. However, enabling work environment in the presence of work place spirituality and spiritual leaders will augment this process. There exists significant literature how workplace spirituality affects the performance of employees in the organization, but this study is a prime effort to investigate how workplace spirituality and protean career can be used to explain the relationship between spiritual leadership and subjective career success of employees. Current stream of research that calls for pragmatism philosophy, which is being used in present research, dwells the need for testing framework through qualitative as well as quantitative perspectives which is known as mix-method research design. This design helps to overcome the weaknesses/shortcomings of quantitative and qualitative studies. Using structured questionnaire and interview guide, data were collected from x faculty members of universities, doctors of hospitals and officer grade employees of banking industry from five major cities of Punjab, Pakistan. Service sector industries have been chosen because of its major contribution to the national GDP (more than 60%). Respondents were selected through convenience sampling and sample size was 1920. Different statistical tools such as correlation analysis, confirmatory factor analy sis, structural equation modeling and hierarchical regression analysis have been applied for analyzing the data which provided significant support for the hypothesized relation ships. Results showed that spiritual leadership positively impact subjective career suc cess of employees. Similarly, workplace spirituality and protean career act as the cata lysts between spiritual leadership and subjective career success of employees. This study open new horizons for future research. The study in hand will provide guidelines and applications for researchers as well as practitioners.
Role of Job Satisfaction, Organizational Commitment and Leader Member Exchange on Innovative Work Behavior
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2017) Talha Hussaian; SP15-MSPM-009; Dr Faisal Tehseen Shah; LHR TP 4761
Role of job Satisfaction and organizational commitment and Innovation is their impact on leader member exchange and innovative work behavior have been a subject of discussion among the top management of software industry. The existing structure still hasn’t been able to formulate a working environment which promotes innovative work behavior for the employees. The objective of this research is ascertain if the Role of LMX, Job satisfaction and Organizational commitment on Innovative work behavior. A survey was conducted in IT industry of Lahore from software engineers where 220 completed questionnaires were received and analyzed. Demographic analysis was done using SPSS version 2.0 and for empirical analysis Regression, Pearson Correlation, Reliability and linear regression was carried out. The findings proved that LMX and Organizational Commitment have positive relation with Innovative work behavior and the job satisfaction is not significant with innovative work behavior. Information technology is the backbone of Pakistan’s economy, therefore the top management should devise polices in the same direction to employee motivation to increase customer satisfaction. It will consequently promote innovative work behavior among the employees of software industry.
Determinants of Corporate Dividend Payout Policy: Evidence from Emerging Economies of South Asia
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2017) Hammad Hassan Mirza; SP10-PMS-001; Dr. Talat Afza; LHR TP 4788
The present study analyzes the effect of firm and country level factors on corporate dividend payout in emerging economies of South Asia. Existing studies mainly investigate the determinants of dividend payout in developed economies with little focus on country level economic, legal and cultural factors especially in emerging economies. The results of previous studies are mixed and inconclusive regarding the relationship of firm level factors and dividend payout. This study contributes to the existing literature by providing evidence on moderating role of country level factors in determining the relationship between firm level factors and dividend payout policy in South Asia. The study uses the data of listed non-financial companies of Bangladesh, India, Pakistan and Sri Lanka, from 2006 to 2010. Firm and country level models are estimated using lest square, Tobit, Logit and TSLS techniques. The analysis is conducted in two parts, first the effect of firm level factors with dividend payout in each of four South Asian countries is compared, and second the impact of country level factors on the relationship of firm level factors and dividend payout is investigated. At firm level estimation the results show that dividend payout increases with increase in managerial ownership in Bangladesh and India but decreases in Pakistan and Sri Lanka. Institutional ownership positively affects payout in Bangladesh and India but not in Pakistan and Sri Lanka. Operating cash flow and lagged dividend are important determinants of payout in South Asian countries but cash flow sensitivity does not affect payouts. Regarding country level factors, in high investors’ protection regime, the shareholders enforce managers to pay dividend, which is in line with dividend outcome model. This shows that investors’ protection does not substitute dividend payouts in South Asia. Furthermore, legal rights protection of creditors and employees does not adversely affect dividend payout. Regarding cultural attributes, the study finds that the uncertainty avoidance negatively moderates the relationship between cash flow and dividend payout
Corporate Governance, Financial Constraints and Dividend Policy: Evidence from Pakistan
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2018) Muhammad Azeem; FA11-PMS-002; Dr. Talat Afza; LHR TP 5327
Information asymmetry between insiders and outsiders creates various issues for a firm, such as the agency problem where managers pursue their own interests even at the cost of the wellbeing of the firm’s shareholders and probable external financial constraints where external investors discount risk by causing a surge in the cost of financing. Normally, a firm manages the issues of the agency problem and external financing constraints by omitting or initiating dividend payments. In most existing studies, scholars have focused on the direct relationship between corporate governance and dividend policies and, thus far, they have produced inconclusive and contradictory results. Most probably, these studies have not considered the role of financial constraints in dividend payment decisions. Moreover, the substantial emergence of corporate scams, along with weak regulatory environments coupled with the underdevelopment of the financial sector of Pakistan, has encouraged the study of the aforesaid tradeoff. Therefore, this study investigated the impact of corporate governance on dividend policies in the presence of financial constraints using a sample of 139 non-financial firms listed in the KSE in Pakistan, where a weak regulatory framework generates agency problems and the underdevelopment of financial sector causes financing constraints for businesses. The results reveal that, in Pakistan, dividends are an Outcome of governance practices. As the quality of firm-level governance improves, shareholders are provided with the legal strength to ultimately force firm managersto pay dividends.Along with the agency problem, the availability of external financing is an important factor related to dividend payment decisions in Pakistan. When a company is confronted with the agency problem and financial constraints simultaneously, managers try to avoid costly external financing rather than reducing agency problem. The corporate regulatory machinery of Pakistan completely inherits the characteristics of low efficiency, and as a result, the issue of unsymmetrical firm-level governance practices has emerged. Eventually, the influence of financial constraints on dividend policies also varies across different corporate governance regimes.
Investigating the Relationship between Change Order Determinants and Project Performance: An evidence from educational building projects in KPK province, Pakistan
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2018) Sami Ur Rehman; FA16-RPM-011; Dr. Summaira Malik; LHR TP 5213
Construction projects are difficult to complete without having changes to the original scope. Change orders are very common in modern construction projects and are often generated from different sources which can create complications for the project performance. Good educational infrastructure has a great impact on the achievement of better education. However, many research studies have identified the critical role of project complexity between change orders and project performance but there is hardly any study which has empirically tested these relationships on educational building projects in case of Pakistan. Thus this study aims to identify the main factors causing change orders and to analyze their potential effects on project performance, and to develop recommendations for the effective control of these change orders specifically in the context of educational building projects in KPK Province, Pakistan where variation orders are considered more common due to lack of research and development in this region of the country. This study also explores the mediating role of project complexity between change order and project performance. Primary data collected through a standardized questionnaire from the construction professionals involved in 25 completed educational building projects in KPK. Results of this study reveal that there exists a significant relationship between change orders and project performance and project complexity significantly mediates the relationship between change orders and project performance. Hence it is concluded that change orders have directly an adverse impact on project performance as well as the determinants of change orders create complexity in project which leads undesirable results in project performance. To improve project performance, the construction professionals must pay attention to minimize the adverse effects of change orders by handling the project complexity in an effective manner.
Corporate Derivatives as a Tool for Risk Management: A Comparative Analysis of Pakistan and Malaysia
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2018) Atia Alam; FA10-PMS-003; Dr. Talat Afza; LHR TP 5290
The growing usage of derivatives since the last few decades has increased academic concerns regarding the value relevance of derivatives. Hedging theorists state that considering market imperfections, use of derivatives enhances firm value by minimizing risk. The existing literature has mostly examined the direct effect of derivative usage on firm risk and value, but empirical evidence on ‘how’ and ‘when’ use of derivatives enhances firm value is still missing. Present study primarily adds to the existing literature by identifying ‘how’ and ‘when’ derivative usage increases firm value by using moderated mediation techniques through a bootstrap technique of Hayes (2015). In addition, the current study explores the empirical literature by comparatively analyzing the countries where derivative markets are still in development phase like Pakistan and Malaysia. The sample consists of 167 Pakistani and 266 Malaysian firms for the period of 2004-2010. Findings demonstrate that derivatives play a significant risk management role in both Pakistan and Malaysia, though the effectiveness of the moderating role of derivative usage on the relationship between risk and value is limited in Pakistani non-financial firms. Results on the basis of firm’s types of derivative instruments show no moderating mediating role of a firm’s risk on the relationship of derivative usage and Malaysian firm’s value as they are mostly involved in operational hedging. Whereas, Pakistani firms have high value enhancing benefits of foreign currency derivative usage in case of no ER exposure as firms might have exposed due to imports and other commodity prices. In case of interest rate derivative usage, Malaysian firms use fewer interest rate derivatives in times of low IR exposure as they have more access to external financing at lower costs because of developed capital market.
Antecedents and Consequences of Sales Force Intrinsic Motivation: An Integrated Model
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2018) Basharat Naeem; SP09-PMS-001; Dr. Mahmood Ahmad Bodla; LHR TP 5291
How can sales force be motivated for superior sales productivity? This question has consistently been asked by sales management since long. While sales quota based compensation are frequently used to improve performance, critics highlight potential dark side of such schemes resulting into extrinsic motivation of poor quality as it would not be sustainable and bring counter-productive work behaviors. Numerous practicing managers and academics recite now-familiar motivational mantra that motivation comes from the self, not from desire for money. Although intrinsic motivation has long been theorized as strong predictor of performance particularly for the jobs requiring creativity, yet empirical evidence does not seem to converge. Moreover, knowledge is strikingly limited of how informal controls intrinsically motivate sales force to perform their job in creative fashion to be star performers. It provides strong stimulus to address the research question of how sales force intrinsic motivation is influenced by largely ignored informal sales force controls (antecedents) such as optimistic sub cultural control (workgroup level context) and spirit at work based control (job level context) which, in turn, drive sales performance directly and indirectly by sales force creativity (consequences). Moreover, it is advocated that if indeed different selling situations exist, then there will be high likelihood that each type of sales force, for example trade (Fast Moving Consumer Goods; hereinafter FMCG) and missionary (Pharmaceutical) sales force of this study, may respond differently to contextual factors, such as informal sales force controls of this study, resulting into differential influence on motivation, behavior and performance. Surprisingly, knowledge regarding the effect of the type of sales force selling situations for critical sales force outcomes is limited at best. This issue provided thrust for this study to address important research question of whether or not effectiveness of newly introduced informal sales force controls is contingent upon selling situations of trade (FMCG) and missionary (Pharmaceutical) sales force. An integrated conceptual model is proposed by uniquely merging complementary insights from conceptual logic of informal controls, componential theory of creativity and self-determination theory. Mixed method sequential explanatory research design is used to empirically test the proposed model by employing structural equation model. In focal quantitative phase, data is collected by structured survey questionnaire from 1065 frontline field sales force, both sales persons and sales managers, of 60 sales organizations of FMCG and Pharmaceutical industries in Pakistan. In follow-up qualitative phase, eleven semi-structured interviews of the survey respondents are used to interpret and corroborate key quantitative findings. Findings indicate that intrinsic motivation does not automatically translate into improved sales performance. Actually, sales force intrinsic motivation first stimulates their creative performance of selling job which, in turn, improves their sales performance. Analysis clarifies the role of intrinsic motivation that it is contextually influenced attitudinal state cultivated by both informal sales force controls. Spirit at work based control has important role in nurturing sales force creativity, which consequently improves their sales performance, over and above that is mediated by intrinsic motivation. Whereas optimistic sub cultural control stimulates sales force creativity, by cultivating intrinsic motivation, which results into their improved sales performance. Interestingly, these relationships do not differ significantly across selling situations of trade and missionary sales force disconfirming the assumption of heterogeneity of such selling situations. This thesis provides potential aid to theoreticians and practitioners to appreciate and understand complex mechanism of effectively designing informal sales force control levers by highlighting the importance of intermediary markers of sales force intrinsic motivation and creativity for developing high performing sales force operative in highly competitive FMCG and Pharmaceutical industries, characterized by cut-throat competition, challenging sales quotas and escalating customer demands, in the context of developing country of Pakistan. From practical stand point, this thesis enriches sales management understanding that trade and missionary selling situations are not sufficiently diverse to cause differential perceptions of informal sales force controls.
The Relationship Between Corporate Governance and Firm Value: Role of Discretionary Earnings Management
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2018) Sajid Nazir; FA10-PMS-001; Dr. Talat Afza; LHR TP 5287
Corporate governance practices help in enhancing firm value by effectively monitoring the managerial decisions as well as reducing the level of information asymmetry and agency problem between empowered managers and dispersed minority shareholders. The present study investigates the relationship between corporate governance and firm value for the developing economy of Pakistan. The study has also taken into consideration the moderating role of discretionary earnings management in corporate governance-firm value relationship, which is considered to be a relatively ignored research issue in corporate finance literature. In addition to focusing on individual mechanisms of corporate governance (i.e. audit, board, compensation, ownership), the present study has also constructed a composite corporate governance index to investigate the role of effective corporate governance in mitigating earnings management and enhancing firm value. The data of 208 firms listed at Karachi Stock Exchange for a time period of 2004 2011 has been used for analysis and accounting, market and economic measures of performance have been used as firm value. The study finds that corporate governance plays a vital role in enhancing firm value in long as well as short run. Constitution of internal audit committees as an effective internal audit system is essential for the enriched progress of a firm. The monetary incentives and compensation paid to the top executives motivates them to work in the best interests of the company which increases not only short term accounting value of firm but also long term market and economic value. The findings reveal that discretionary earnings management practices by corporate managers damage the firm value in long term and it could be mitigated by effective corporate governance mechanisms. Moreover, this value damaging role of discretionary earnings management negatively moderates between effective corporate governance and firm value. Firms with earnings manipulation weakens the impact of effectiveness of governance system and leads to lower firm value. Finally, the study suggests some practical implications based upon the findings for investors, policy makers and manager.
Mediating Role of Workplace Spirituality and Protean Career in Modeling the Employee Career Success through Spiritual Leadership
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2018) Huma Ali; SP11-PMS-001; Dr. Mahmood Ahmad Bodla; LHR TP 5292
Career success, though a subjective construct, has always been the most cherished goal of all employees. The present study focuses on the role of spiritual leadership in attaining the career success while workplace spirituality and protean career acts as catalyst to enhance the underlying psychological processes. Subjective evaluation of career success may include life, career and job satisfaction which can be enhanced through spiritual leadership. Workplace spirituality is the very essence for prevalence of spiritual leaders which can boost up the morale of employees and help meet their personal as well as organizational objectives by nourishing different streams of their careers. A protean career employee generally focuses on personal development of his skills and competencies at his own in order to attain career success instead of being dependent on organizational career arrangements. However, enabling work environment in the presence of work place spirituality and spiritual leaders will augment this process. There exists significant literature how workplace spirituality affects the performance of employees in the organization, but this study is a prime effort to investigate how workplace spirituality and protean career can be used to explain the relationship between spiritual leadership and subjective career success of employees. Current stream of research that calls for pragmatism philosophy, which is being used in present research, dwells the need for testing framework through qualitative as well as quantitative perspectives which is known as mix-method research design. This design helps to overcome the weaknesses/shortcomings of quantitative and qualitative studies. Using structured questionnaire and interview guide, data were collected from x faculty members of universities, doctors of hospitals and officer grade employees of banking industry from five major cities of Punjab, Pakistan. Service sector industries have been chosen because of its major contribution to the national GDP (more than 60%). Respondents were selected through convenience sampling and sample size was 1920. Different statistical tools such as correlation analysis, confirmatory factor analy sis, structural equation modeling and hierarchical regression analysis have been applied for analyzing the data which provided significant support for the hypothesized relation ships. Results showed that spiritual leadership positively impact subjective career suc cess of employees. Similarly, workplace spirituality and protean career act as the cata lysts between spiritual leadership and subjective career success of employees. This study open new horizons for future research. The study in hand will provide guidelines and applications for researchers as well as practitioners.
Perceptions of Organizational Politics and Employees’ Performance; An Integrative Model of Pakistani Worksites
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2018) Rizwan Qaiser Danish; SP09-PMS-002; Prof. Dr. Mahmood A. Bodla; LHR TP 5288
Organizational Politics is an integral part of every organization whether small or large, public or private. This phenomenon varies in the degrees of its use from person to person and context to context. Thus perceptions of reality are more important than reality itself. The study in hand is an effort to investigate what affects do these perceptions have on different employees’ outcomes in Pakistani organizations. This is prime effort to investigate the relationship of perceived organizational politics with various outcomes through mixed method design and focusing on mechanisms or processes rather than bivariate relationships. The data was collected from nationwide sample through self administered questionnaires in quantitative phase and semi structured interviews in qualitative phase concurrently. Self administered questionnaires were distributed to part time management students who were working in different organizations of Pakistan during their day schedule and take their classes in evening. Overall 1360 questionnaires were distributed from which 1163 working surveys were received which make about response rate equals to 85.51%. Qualitative data were collected through semi structured interviews from six executives working in different industries. Participation in survey and interview was voluntary while confidentiality and anonymity were ensured. For analysis purpose, quantitative data were coded and entered into SPSS 20 and interviews were transcribed in NVivo 10. Structural Equation Modeling was applied for measurement model and structural model for the purpose of hypotheses testing in AMOS 18. Supplemental tests for mediation and interactions were run for cross validation in SPSS 20 through regression analysis. The results strongly supported the proposed model and hypotheses thus establishing evidence from comparatively very large national level sample. There were also some exploratory findings which have been discussed in details. Guidelines for future research are also provided.
Linking Personal Demands and Personal Resources with Job Performance: Mediating Role of Basic Need Satisfaction and Work Engagement and Burnout
(Library Information Services COMSATS University Islamaabad Lahore Campus, 2019) Muhammad Waqas; FA12-PMS-005; Dr. Zafar-Uz-Zaman Anjum; LHR TP 5938
Purpose- This study aims to examine the function of personal demands and personal resources on job performance through the mediating effects of basic need satisfaction (BNS), work engagement, and burnout by integrating the self determination theory. This study postulates that personal demands and personal resources impact work engagement and burnout through basic need satisfaction (BNS) which further help to impact employee performance. Design/methodology/approach – By using judgmental sampling data was collected from sales employees and their supervisors of 8 insurance companies operating in Pakistan. These companies are listed on the security and exchange commission of Pakistan (SECP). Structural equation modeling technique was used to test the model of this study. Investigator used the phantom modeling technique to test the mediating effects. Findings – This study explains the indirect effects in two steps in order to handle the issues of parsimony. In the first step study reveals that personal demands and personal resources have an indirect effect on work engagement and burnout. Personal demands-resources have positive effect on the work engagement through basic need satisfaction but negative on the burnout through basic need satisfaction. In the second step serial mediation analysis suggests that BNS, and work engagement fully mediated the relationship of personal demands- resources and employees in-role performance. However, no mediation exists between personal demands-resources and employees’ in-role performance via BNS and burnout. Originality/value – This research is unique in a way that it has explored the effect of personal demands and personal resources on employees’ work engagement and burnout through BNS. Moreover, this research has found the serial mediation between personal demands-resources and employees’ in-role performance through BNS and work engagement and burnout.
The relationship between Ethical Leadership and Organizational Politics: Constructive and Destructive Politics
(LHR TP 7032, 2019) Shoaib Alam; FA16-RMS-001; Dr. Hafiz Muhammad Usman; LHR TP 5687
The purpose of this study is to explore links between ethical leadership and organizational politics (politics henceforth), both destructive and constructive. Past research has made invaluable contributions by studying and bringing to the fore the effects destructive politics on several employees’ work-related behaviours and outcomes, such as job satisfaction, well-being, job performance, and learning. Likewise, although limited in numbers, previous studies have also theorized and provided empirical evidence of the links between constructive politics on employees and organizations, such as learning, productivity, creativity, and innovation. However, studies on how leadership, specifically ethical leadership can discourage destructive politics and enhance constructive politics by empowering employees and providing them opportunities for participation in decision making are scarce. To address this gap, we draw on social learning theory to propose that ethical leadership discourages destructive politics and encourages constructive politics. By using a single case study of Alpha Petroleum (pseudonym of the case study company to ensure anonymity) as the basis of this research, and collecting data from ten (10) employees, and analysing data using thematic method, we brought to the fore how ethical leadership is linked with organizational politics, both constructive and destructive. In doing so, we provided a framework that links different facets of ethical leadership (e.g., fairness, accountability, and honesty), employee empowerment, and employees’ participation in decision making, and constructive and destructive politics. The framework can serve as a guideline for managers to counter destructive politics and encourage constructive politics. The findings of this study suggest that managers can discourage destructive politics and enhance constructive politics by demonstrating ethical behaviors, empowering employees, and allowing them to participate in decision making.
Impact of supportive work Environment on Employee Retention: Moderation Effect of Perceived Organizational Politics
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2019) Saba Munir; FA16-RMS-008; Dr. Ahmad Qamar; LHR TP 5690
The purpose of this research is to study the impact of Supportive Work Environment on Employee Retention. Supportive Work Environment is presented through three of its components; Perceived Organizational support, Supervisory Support and Perceived Climate. Furthermore, the effect is tested through moderation of Perceived Organizational Politics in banks, specifically in Lahore. This study is based on quantitate data approach. Survey questionnaires were used to collect data from 250 banks in Lahore. Using SPSS and PLS, this research elaborated the relationship between Supportive Work Environment and Employee Retention. Cronbach's alpha was used to test the reliability of the questionnaire. The current study makes a valuable addition by examining the moderating effects of organizational politics in a relationship between supportive work environment and employee retention. The results show that there is positive relationshiopo between some variables i.e. relationship of Perceived Climate anad Supervisory Relationship with Retention. The results also revealed that moderation exists between Perceived Organizational Support and Retention. The findings of this study have theoretical implications of Supportive Work environment in relation with Employee Retention as it covers the scope of different retention factors. It is supposed that this research will contribute towards literature positively, extending scope to banking sector, and will provide ways for further studies on this topic. Thus, findings of this research will be helpful for the organizations and policy makers.
Role of Emotional Intelligence on Project Success along with the mediating role of Job satisfaction and Trust
(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2019) Syed Sajjad Ahmad Bilgrami; FA17-RPM-001; Dr. Muhammad Usman; LHR TP 5704
Number of projects are increasing exponentially every year. Although organizations put a lot of effort in making the project a successful in order to gain financial, economic and organizational growth. So a successful project can boost morale within organization along with the substantial financial growth and customer’s satisfaction. But often the execution of project faces failure. There are lot of factors involved in the failure of projects which includes the hard skill i.e. technical and the soft skill i.e. emotional intelligence, leadership etc. But recent researchers are pointing to the importance of soft skill to make a project successful. This research used a quantitative approach to comprehend how soft skill i.e. emotional intelligence (EI) of manager plays part in project success. In this study a model associating emotional intelligence to project success was tested and the mediating effects of two work attitudes i.e. job satisfaction and trust was examined on this association. The quantitative facts were gather from 286 managerial persons involved in construction firms of Lahore. Statistical tests shows that there is a positive association between EI and project success. Also this relationship is partially mediated by Job Satisfaction and Trust variables. This study will help the organizations to select a suitable candidate having high emotional intelligence in order to make the project successful. Also this study shows organizations that having high job satisfaction and trust among the team members will significantly affect the success of the project. As far as theoretical aspect, it fulfill the need of testing and validating the relationship of EI and project success along with the mediating effect of work attitudes i.e. Job Satisfaction and Trust.