Department of Management Science
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Item DETERMINENTS OF CAPITAL STRUCTURE DECISION Case of Pakistani Government Owned and Private Firms(Library Information Services COMSATS University Islamaabad Lahore Campus, 2007) Ayesha Mazhar; FA05-RMS-008; Dr. Muhammad Nasir; LHR TP 4792Capital structure decisions are among the most important and crucial decisions for any business because of their effect on value and cost of the company. The objective of every company is to maximize its value with the minimum costs, and that is possible only when a company makes a judicious mixture of debt and equity. For that reason, any company has to consider the important factors of capital structure decision which helps in determining how much leverage a company should employ. In this dissertation we have discussed the determinants of capital structure of Pakistani firms and divided our sample in to two sub-samples of private and government owned companies in order to make comparison between two sectors. In this regard we selected a sample of 91 Pakistani companies out of which 80 companies are private and 11 are government owned. We collected data of those firms during the period of 1999 – 2006. We used Tangibility, Size, Growth rate, Tax Provision, ROA and Profitability as independent variables and Leverage as our dependent variable. For analysis purpose we have used descriptive statistics, Spearman’s correlation and Regression analysis. The results show that Tangibility, Size, Profitability and ROA have negative relationship with Leverage where Tax provision and Growth rate has positive relation with leverage. There seems to be a positive coefficient of tax rate of Tax provision, Growth rate, and negative coefficient for ROA in private companies and government owned companies. On the other hand, in government owned companies Tangibility is positively correlated with debt, where in private companies it is negatively correlated. Size is positively correlated with debt in private companies and negatively correlated in government owned companies. Similarly in government owned companies Profitability is positively correlated and conversely in private companies it is negatively correlated. This may imply that government owned and private companies of Pakistan use different patterns of financing, and that government owned companies employ more leverage than private companies.Item DETERMINENTS OF CAPITAL STRUCTURE DECISION Case of Pakistani Government Owned and Private Firms(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2007) Ayesha Mazhar; FA05-RMS-008; Dr. Muhammad NasrCapital structure decisions are among the most important and crucial decisions for any business because of their effect on value and cost of the company. The objective of every company is to maximize its value with the minimum costs, and that is possible only when a company makes a judicious mixture of debt and equity. For that reason, any company has to consider the important factors of capital structure decision which helps in determining how much leverage a company should employ. In this dissertation we have discussed the determinants of capital structure of Pakistani firms and divided our sample in to two sub-samples of private and government owned companies in order to make comparison between two sectors. In this regard we selected a sample of 91 Pakistani companies out of which 80 companies are private and 11 are government owned. We collected data of those firms during the period of 1999 – 2006. We used Tangibility, Size, Growth rate, Tax Provision, ROA and Profitability as independent variables and Leverage as our dependent variable. For analysis purpose we have used descriptive statistics, Spearman’s correlation and Regression analysis. The results show that Tangibility, Size, Profitability and ROA have negative relationship with Leverage where Tax provision and Growth rate has positive relation with leverage. There seems to be a positive coefficient of tax rate of Tax provision, Growth rate, and negative coefficient for ROA in private companies and government owned companies. On the other hand, in government owned companies Tangibility is positively correlated with debt, where in private companies it is negatively correlated. Size is positively correlated with debt in private companies and negatively correlated in government owned companies. Similarly in government owned companies Profitability is positively correlated and conversely in private companies it is negatively correlated. This may imply that government owned and private companies of Pakistan use different patterns of financing, and that government owned companies employ more leverage than private companiesItem Intership on US Group(Library Information Services, CUI Lahore, 2010) Muhammad Farooq; FA20-BAF-082; Dr. Samya TahirPakistan's textile industry is exporting 67% of its output, I wanted to gain more knowledge about the textile industry sector and the export sector of Pakistan. That is why I chose to work for a textile company to learn more about it. Although this industry is currently falling, exports are still playing a vital role in the betterment of the economy of the country. I decided to begin my internship at US GROUP, an export manufacturer with a focus on ready-to-wear garments. USA, UK, EUROPE, and CANADA are the main markets that US GROUP concentrates on. I went to the Finance department there and learned how the Finance department works and how all the departments of corporate were coordinated throughout the process. I have most of the time worked in the Department of Finance. US GROUP has been a fantastic place for me to work because it has shown me how well my formal qualifications and everything, I have studied for my degree so far are applied in the workplace. The first chapter is an introduction, where I go over the background information on US GROUP, its purpose or vision statement, and its Organizational goal. The Organization operations section of the second chapter includes the organizational structure, marketing strategy, competitive strategy, and during the examination of Organization (business) processes. The third chapter includes my personal experience. learning while working as an intern at The US GROUP, which indicates that the formal tasks I carried out there operated in several departments, via achievements, in addition to the additional information gained. This segment furthermore highlights issues that personally ran with throughout my internship and provides personal views regarding experience from an internship that may impact my career.Item Efficiency Of Mutual Funds In Pakistan(Library Information Services COMSATS University Islamabad Lahore Campus, 2012-01-30) Amer Sohail; FA09-MSMS-003; LHR TP 4432Efficiency Of Mutual Funds In PakistanItem DETERMINANTS OF FOREIGN EXCHANGE RATE EXPOSURE: EVIDENCE FROM PAKISTAN(Library Information Services COMSATS University Islamabad Lahore Campus, 2012-02-02) MEHNOOR IFTIKHAR; MSMS-FA10-09; Assitant Prof. Dr. Waqar Akram; LHR TP 4425The study investigates foreign exchange rate exposure of 59 non financial firms listed in Karachi stock exchange (KSE). The time period of the study is 2006- 2010 and three industries have been included. The foreign exchange rate exposure of firms has been measured by multi currency rate model the exchange rates includes rupees to US dollar, Rupees to yen, rupees to UK pound and rupees to Euro . Firms found positively exposed to US dollar and negatively exposed to Euro. Different time horizon such as weekly, monthly and quarterly is used in linear and non linear model. Further in the study important determinants of foreign exchange rate exposure have been identified such as Export ratio, firm’s size, Growth opportunity, Leverage, Liquidity, firms’ age, competitiveness and industry effect. The research reveals that firm’s exposure to foreign exchange rate significantly increased as time horizon increases. Euro resulted to be most important exchange rate and more negatively exposed to foreign risk. As far as determinants have been concerned export ratio is positive and significantly related to foreign exposure and growth found to be least important in providing impact on foreign exchange rate exposure. The firm’s size showed mix and significant relationship with exposureItem Impact of Capital Structure Determinants on Paper and Board Sector in Pakistan(Libary Information Services, CUI Lahore, 2013) ZeeshanAslam; SP12-MBO-013Lhr; Muhammad ShahzadGhafoor; LHR TP 4737This study makes an attempt to observe the capital structure of paper and board sector’s listed companies in Pakistan. Study discloses that capital structure determinants of particular industry has unique features or characteristics which are usually not cleared by combined analysis of various industries, because capital structure determinants are firm-specific and vary industry to industry. This study has used sample data for the period of 2006-2011 of paper and board sector and panel regression is used for panel data analysis, and results shows that five explanatory variables profitability, tangibility, size, non-debt tax-shield and growth level explains 76% variations in leverage level which is dependent variable, further profitability, growth and firms size have positive relation and also have significant impact on leverage, while tangibility and non-debt tax shield has negative relation and their impact is insignificant on dependent variable.Item Impact of Leverage, Dividend Payouts and Ownership Concentration on Firm Value Creation in Presence and Absence of Growth Opportunities(Library Informtion Services, CUI Lahore, 2013) Marriam Rao; CIIT/FA11-MSMS-037/LHR; Prof. Dr. Ahmad Kaleem; LHR TP 4444study examines the impact of firm’s financial decisions i.e. leverage, dividend payouts and corporate ownership concentration on firm market value, while dependent on absence or presence of growth opportunities. Ownership concentration is analyzed to be an important determinant of shareholder’s wealth under agency cost of theory. Theoretical background supports a dual impact of leverage, dividend payout and ownership concentration on firm value based on availability and non-availability of growth opportunities. The study would benefit firms to build optimal financial policy based on tradeoff between underinvestment and overinvestment costs under firm value maximization goal in Pakistan. A sample of 164 non-financial firms listed on Karachi stock exchange of Pakistan for the period of 2004 to 2011 is studied. Using Panel data methodology, Generalized system of Estimating Equations is attempted to be applied for results demonstrating dual impact of leverage, cash dividends and ownership concentration in presence and absence of growth opportunities. Leverage indicates a negative relationship in presence of growth opportunities while sign turn to be positive in absence of growth opportunities. Furthermore, leverage effect is checked based on subdivision with short term debt and long term debt. Cash dividends and bonus shares are found to have uncertain relation in presence of growth opportunities and positive relation in absence of growth opportunities. The results also demonstrate corporate ownership concentration relevancy in alteration of firm financial decision policies indicating presence of agency costs in Pakistan.Item Efficiency Analysis of Financial Institutions in Pakistan(Library Informtion Services, CUI Lahore, 2013) Muhammad Jam-e-Kausar Ali Asghar; CIIT/SP10-PMS-002/LHR; Dr.Talat Afza; LHR TP 5301The 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.Item Impact of Transformational Leadership on Team Efficacy: An Empirical Study in Telecommunication Sector of Pakistan(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2013) Asma Altaf; FA10-MSMS-003; LHR TP 4389The criterion of success has been shifted from ―how hard organizations work‖ to ―how innovatively organizations work to be succeeded‖. In this current era, innovation has considered the lifeblood of competitive organizations. Employees have well thought-out to be the most valuable asset of organization. In order to profitably exploit that talent their commitment intensity should be increased; and leadership style has one of the most important determinants that have an effect on commitment of personnel. The current study intended to explore the correlation between transformational leadership and team efficacy. The second required rationale incorporated in the scope of this study has to figure out that how employee commitment mediated the relationship between transformational leadership and team efficacy. The nature of this study required probability sampling in which Stratified Random Sampling was employed. The research was carried out on selected sample of 65 teams functioning in the Telecommunication Sector of Lahore (Pakistan). A 5-point Likert scale questionnaire, containing 20 items, divided into three components has been developed to measure the responses of the employees. Overall, 350 questionnaires were disseminated, out of which 325 returned back were indicating response rate of 91%. SPSS was used for analyzing data. Results of the study depicted that a significant and positive relationship exists between transformational leadership and team efficacy. Results also revealed that transformational leadership is a strong dimension of employee commitment. Furthermore, the current study suggested that organizations ought to exercise transformational leadership style in order to enhance the effectiveness of teams working in Telecom Sector and provides realistic implications for researchers interested in investigation the team efficacy with regard to transformational leadership in broader contexItem INTERNSHIP REPORT FOR PAISMO (PRIVATE) LIMITED(Library Information Services, CUI Lahore, 2013) Taha Khan; CIIT/SP20-BBA-007/LHR; Ma’am Sadia UmarEstablished in 2022 by Rebecka Zavaleta and Usama Mahmud, both UPenn alumni, Paismo is a global provider of payroll, benefits, and HR services, with a specific focus on Pakistan. Operating in the US, Mexico, Ethiopia, and Pakistan, Paismo secured $1.5 million in funding. The SaaS platform integrates payroll, timesheets, and attendance, emphasizing a local impact with global solutions. The goal is to position itself as the leading HR technology provider in Pakistan and expand into Southeast Asia, the Middle East, and North Africa (MENA). Paismo follows a business-to-business (B2B) model, employing a Red Ocean competitive strategy and a Below the Line (BTL) marketing approach. Opportunities in neighbouring markets and potential challenges related to Pakistan's geopolitical and economic conditions are identified through a SWOT analysis. Internship responsibilities encompassed lead generation, client meetings, tax mapping, aItem INTERNSHIP REPORT on ATLAS HONDA(Library Information Services, CUI Lahore, 2013) SOHAIB KHATTAK; CIIT/FA20-BAF-087/LHR; Dr. SAMIYA TAHIRThis report offers an overview of Atlas Honda Ltd., a player, in the automotive industry. We will begin by introducing the company’s range of products and services as delving into its rich history and notable developments. The report will highlight the company’s long term objectives shedding light on its structure and internal management policies. Moving forward we will delve into the heart of the report exploring Atlas Honda Ltd.’s business operations. This will include an analysis of the company’s departments and activities. we will examine their human resources policies to gain insights into their management approach. Furthermore, we will investigate the marketing strategies employed by Atlas Honda Ltd. providing insights, into how they position their products in this market.Item Al Fadila Group of Companies Office#109, Al Barsha Business Center Al Barsha 1, Dubai- UAE(Library Information Services, CUI Lahore, 2013) Hammad Suleman; FA20-BBA-104; Ms. Shumyla AnwarAl Fadila Group of company was founded in 2010 as a service provider company which facilitates clients’ different services such as cleaning services, facility management services, a commercial broker services, security services, event staff services, man power supply and construction Labor services. Al Fadila has established itself as a dynamic and versatile service provider with a commitment to excellence across a wide range of services. The company’s extensive service portfolio reflects its dedication to meeting the diverse needs of customers across industries.Item 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 AfzaThe 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.Item Impact Of Debt And Diversification Of Earnings Man…(Library Information Services COMSATS University Islamabad Lahore Campus, 2013-01-30) Shumaila Asghar; FA11-MSPM-009; LHR TP 4416; Dr.Talat AfzaImpact Of Debt And Diversification Of , Man…Item Impact of Team Member Resources and Team Structure on Emergency Response Performance: An Empirical Evidence from Pakistan(Library Information Services COMSATS University Islamabad Lahore Campus, 2013-01-30) Faheem Ather Haqqani; FA10-MSMS-006; Prof. Dr. Hafiz Zahid Mahmood; LHR TP 4387The role of emergency response is vital for any nation due to their sensitive nature of work. These teams are supposed to help the needy persons who trapped in any accidental or medical emergency. This study has been devised to investigate various factors affecting performance of emergency response rescue teams. Amongs the pyramids of a few 8 elements were selected including team structure (leadership, role clarity, norms, age) and team member resources (personality, training), critical incident stressors, and chronic stressors. The Impact of critical incident stressors and chronic stressors were also investigated as moderator between the link of independent variables and dependent variable. For empirical evidence data was collected from Rescue 1122, an emergency response organization working in 36 districts of Punjab province, in Pakistan. Three cities Fasialabad, Sargodha and Khushab were selected by employing Stratified Sampling Techniques based on common characteristics. Self administered questionnaire was used to collect the data from rescue workers. Various data analytical tools including descriptive and inferential statistics were employed. Exploratory factor analysis (EFA) carries out as data analytical tool for data reduction. Afterword, regression analysis using Preacher & Hayes regression method of moderation was employed. Moreover, one way ANOVA test and Post hoc test were also conducted to judge the city wise comparisons of performances. The results of these analyses proved that there was significant and positive relationship between emergency response performance and leadership, role clarity, norms, age, personality. Critical incident stressors and chronic stressors had significant but negative relationship, as independent variable, with emergency performance. But no relationship was found when these 2 factors were investigated as moderators. Moreover, no relationship was found between training and emergency performance. Therefore, it is concluded that Performance of the rescue workers can improve with the improvements in factors of team member resources & team structures, and by reducing the critical and chronic stresses.Item Personality Development and Career Progression of Madrassa Protégé within Provincial Capital of Punjab, Pakistan(Library Information Services COMSATS University Islamabad Lahore Campus, 2013-02-02) Arsala Marium Khan; FA11-MSMS-006; Dr. Imran Haider Naqvi; LHR TP 4417Madrassas have large number of students and take up practices of personality development and career progression. Career Progression solely treated as a business terminology has failed to address this sector of society with huge HRD potential. This study intended to fill the gap by researching the role of Madrassa and its teachers in helping the students in personality development and achieve their career aspirations. The Madrassas of four major sects of Muslims in the provincial capital, Lahore were surveyed i.e. Deobandi, Shia, Barelvi and Ahl-e-Hadees. The study has evaluated how protégés within a madrassa learn and work up on the concept of IWE to build a significant and productive career. Based on the concepts of OST as metaphor of biased treatment and symbol of stressor and suppression the study sought to examine the impact on PD as well as CP of the protégés. The study further analyzed that how inclusion of GEE helped protégés in better careers. The nature of this study required probability sampling in which Stratified Random Sampling was employed. The research was carried out on selected sample of 280 madrassa protégés within Lahore (Pakistan). A 5-point Likert scale questionnaire, containing 103 items has been developed to measure the responses of the protégés. Overall, 280 questionnaires were disseminated, out of which 269 returned back were indicating response rate of 96%. SPSS and Amos were used for analyzing data. Results of the study depicted that a significant positive relationships exist between Ostracism, General Education, Personality Development and Career Progression. Results also revealed that Loyalty with Country is a strong dimension of Personality Development.Item Job Insecurity and Counterproductive Behavior of Call Centers: The Mediating Role of Affective Commitment and Moderating Role of Supervisor Support(Library Information Services COMSATS University Islamabad Lahore Campus, 2013-02-02) Sundus Iqbal; FA13-MSPM-011; LHR TP 6830; Dr. Rafi Amir-ud-DinThough one can find various studies that have been driven on different aspects of job satisfaction and job insecurity in Pakistan however, call center is flourishing industry of the country that has long way to go in future. It has been observed that job insecurity due to different aspects results in counterproductive work behavior. Our studies can help identify how supervisor support plays a moderating role and effective commitment can play a mediating role in dealing with job insecurity and CWB of employees of telecom call center industry in Pakistan.Item The Effects of Perceptions of Organizational Politics (POP) on Employee Attitudes and Behaviors: The Moderating Role of Emotional Intelligence.(Library Information Services COMSATS University Islamabad Lahore Campus, 2013-02-02) Muhammad Kashif Luqman; FA11-MSMS-041; Dr. Faisal Tehseen Shah; LHR TP 4420The current study is an inquiry into perceptions of telecom sector employee of Pakistan towards organizational politics and its impact on their attitudes and behaviors. The effects of three dimensions of Perceived Organizational Politics (POP), named as General Political Behavior (GPB), Go Along to Get Ahead (GAGA) and Pay and Promotion Policies (PPP), on attitudinal and behavioral outcomes of employees was assessed in detail. The moderating role of Emotional Intelligence will be evaluated in afore-mentioned relationship. A well-structured questionnaire was employed to collect data from 190 employees of five large multi-nationals currently operating in Pakistan. Several statistical tools such as one-way ANOVA, Hierarchical Moderated Regression, Correlations, Confirmatory Factor Analysis, Graphical presentation of Interaction terms and simple slope tests were performed to analyze the data. The moderating role of Emotional Intelligence is proved between two of the POP dimensions (GPB and GAGA). The study findings also provide detailed understanding regarding distinguishing roles of three dimensions of organizational politics on employee attitudes and behaviors. The study provides clear guidelines for policy makers in telecom sector to devise such policies that may curb the negative impacts of politics and provide emotional training to employees in this regard. The study has also identified its limitations and prospects for future researchers are also discussed at length.Item Dr. Abdus Sattar Abbasi(Library Information Services COMSATS University Islamabad Lahore Campus, 2013-02-03) Tariq Hameed Alvi; FA10-MSMS-022; LHR TP 4441Purpose – The basic purpose of the study is to understand the ethical judgment, moral identity, love of money, spirituality, and religiosity as predictors of ethical intention and to investigate how ethical work climate moderates these relationships. Rationale – Ethical decision making literature doesn’t shed much light on love of money, religiosity, and spirituality impact on ethical intention especially under configurations of ethical work climate. Design/methodology/approach – A significant literature gap was identified through a de-tailed literature review. Mail survey was employed to solicit responses from members of Marketing Association of Pakistan (MAP), Lahore chapter. Findings – Pearson correlation results showed that: ethical judgment is highly significant-ly correlated with ethical intention; love of money (LoM) has significant negative corre-lation with ethical intention; religiosity, spirituality, and moral identity are positively re-lated to ethical intention but this correlation is not significant. Pair wise simple regression largely confirmed the correlation results in that ethical judg-ment was highly significant positive predictor of ethical intention; LoM negative but sig-nificant predictor of ethical intention; spirituality was a positive marginally significant predictor of ethical intention; and religiosity and moral identity, though having positive relationship, were not found to be significant predictors of ethical intention. In pair wise hierarchal regression, the only significant predictors of ethical intention were ethical judgment and love of money (positive and negative predictor respectively); in-strumental work climate was a significant negative predictor of ethical intention in all iterations of hierarchal regression and caring work climate moderates the religiosity-ethical intention link. There also have been supplementary findings that instrumental and caring work climate deters ethical intention though former being more detrimental that later. Implications – Our study has important practical implications especially configuring ethi-cal work climate in a way so as to foster ethical decision. The study also had important research implications. Originality/value – Very few studies have tested the relationship between moral identity, love of money, spirituality, and religiosity on ethical intentionItem DETERMINANTS OF FOREIGN EXCHANGE RATE EXPOSURE: EVIDENCE FROM PAKISTAN(Library Information Services COMSATS University Islamabad Lahore Campus, 2013-02-03) MEHNOOR IFTIKHAR; FA10-MSMS-009; LHR TP 4425; Prof. Dr. Waqar AkramThe study investigates foreign exchange rate exposure of 59 non financial firms listed in Karachi stock exchange (KSE). The time period of the study is 2006- 2010 and three industries have been included. The foreign exchange rate exposure of firms has been measured by multi currency rate model the exchange rates includes rupees to US dollar, Rupees to yen, rupees to UK pound and rupees to Euro . Firms found positively exposed to US dollar and negatively exposed to Euro. Different time horizon such as weekly, monthly and quarterly is used in linear and non linear model. Further in the study important determinants of foreign exchange rate exposure have been identified such as Export ratio, firm’s size, Growth opportunity, Leverage, Liquidity, firms’ age, competitiveness and industry effect. The research reveals that firm’s exposure to foreign exchange rate significantly increased as time horizon increases. Euro resulted to be most important exchange rate and more negatively exposed to foreign risk. As far as determinants have been concerned export ratio is positive and significantly related to foreign exposure and growth found to be least important in providing impact on foreign exchange rate exposure. The firm’s size showed mix and significant relationship with exposure.